Posted by Dolly_Chai > 2016-12-05 10:39 | Report Abuse

Hi FreeAsABird, i agree with your statement. For different size of business and different type of business, we can't compare the debt directly as it is apple to orange comparison... Evergreen business scale is much larger and their MDF business is more capital intensive compared to Hevea's. It is just like you can't compare with Homeritz as well as Homeritz's furniture business does not require a lot of advanced & expensive machineries (Homeritz requires mainly skilled workers to assemble the sofa, dining chairs, bed frames etc)... so it is not fair to compare just like that... Evergreen has a lot of imported machines that are efficient (very much automated and require less direct labors), that are able to churn out high quality MDF/particleboards... furthermore, I feel that Evergreen's debt level is acceptable after considering all these factors...

Posted by Kingsley Looi > 2016-12-05 10:52 | Report Abuse

i dont see any point to argue with wahahaha. u all dun bully him please. i feel shame if i replying him.

Posted by Dolly_Chai > 2016-12-05 10:52 | Report Abuse

stockraider... yes, that is the current balance sheet of Evergreen... looks very healthy.. in fact, cash has grown from 116M to 141M...

Posted by Dolly_Chai > 2016-12-05 10:56 | Report Abuse

net cash flow generated from operation has doubled from 80M to 151M...

Posted by stockraider > 2016-12-05 12:24 | Report Abuse

TALKING RUBBISH...RAIDER ALREADY CONFIRMED NOT SO MUCH DEBT MAH..!1

Posted by moneykj > 2016-12-05 13:53 | Report Abuse

Ya. Below 0.80 only consider...

Posted by Jenas Tan > 2016-12-05 13:55 | Report Abuse

Hold on good stock

Posted by Dolly_Chai > 2016-12-05 15:13 | Report Abuse

wahahaha.. thanks for playing the role of the joker/clown here with your statement:

hevea is dominating in MDF segment which is more resilient and MDF price is less volatile.

~~~~~~~~~~~~

I am now 100% sure that you do not even know the nature of business for Evergreen and Heveaboard...

who is the 1st MDF exporter in ASEAN? You dunno
Is Hevea selling MDF or particleboards - you dunno...

I feel very sad for your ignorance (yet pretended like expert)...

And on the debt: per what Raider said (that is fact from quarterly report):

Shareholder funds Rm 1 billion
Got cash Rm 141 million
Borrowing Rm 215 million

go read Evergreen Q3 report before you make a fool of yourself here... that is very funny and silly

Posted by Dolly_Chai > 2016-12-05 15:19 | Report Abuse

the way this wahahaha wrote reminds me of abcb, who had been banned by i3.
I think this is his second identity (as abcb also thought that Hevea is the leading MDF player.. that is very funny)...
come on, wahahaha (abcb multiple), pls dun create more joke with your ignorance... thanks.

Posted by Dolly_Chai > 2016-12-05 15:24 | Report Abuse

wahahaha.. thanks for posting the above analysis.. in fact, it says that 2017 will be a better year for evergreen and that is why we are investing in it... it seems like you were trying to sabotage evergreen but actually help to promote it.. haha...

Posted by Dolly_Chai > 2016-12-05 15:26 | Report Abuse

btw, i dunno from where you got that analysis... i showed u one from RHB:

29 November 2016
Looking Forward To 2017

We expect Evergreen to fare better in 2017 as its new capacity expansion,
coupled with our revised USD/MYR assumption of 4.15 (from 3.80), would
help to boost earnings visibility over the medium term. Maintain BUY with
our TP tweaked to MYR1.24 (from MYR1.30, 23% upside, 10x 2017F P/E)
following our earnings revision. This is as we factor in lower ASPs going
forward to take into account the current stiffening pricing competition.

Victimised by low oil prices. In our view, the current low oil price environment
has caused some of Evergreen Fibreboard’s (Evergreen) Middle East clients
(which makes up close to 50% of total group sales) to defer/cancel their orders
for its medium-density fibreboard (MDF) products in 2016. To mitigate this, we
gathered that management has been channelling its products to other markets,
such as the developing South-East Asia region. We see this as an interim
measure to help offset the negative impact to its bottomline. As we anticipate
crude oil to trade at a higher average of USD60/bbl in 2017, we believe demand
for MDFs would pick up accordingly.

2017 to benefit from capacity expansion. Housed under its Batu Pahat plant,
the group’s maiden ready-to-assemble (RTA) furniture line is currently in rampup
mode after being commissioned in June. We expect delivery and installation
of the proposed second RTA line in due course, with official commissioning by
mid-2017. On top of that, we gather that the installation of its new integrated
particleboard/MDF production line is currently ongoing at its Segamat plant. We
expect commercial production to kick-start come 2Q17. Upon commissioning,
Evergreen would be able to produce premium particleboards at quality grades
of E1, E0 and Super E0.

Forecast revisions. We cut our FY16F-18F EPS by 3-15% as we revamp our
model to take into account several key assumptions, including:
i. Revised USD/MYR of 4.15 going forward (from 3.80);
ii. Lower ASPs of USD170-180/cu m (from USD180-190);
iii. Higher effective tax rate of 24% for 2016 (from 20%).

Maintain BUY. Our TP dips slightly to MYR1.24 (from MYR1.30, 23% upside)
following our earnings revisions, which are based on an unchanged 10x 2017F
target P/E. We expect earnings to rebound in 2017, as its ongoing capacity
expansion would likely propel earnings to break the MYR100m threshold.
Valuations are undemanding. Maintain BUY.

Posted by Dolly_Chai > 2016-12-05 15:32 | Report Abuse

2017 net profit is expected to break RM100m (more than its peak in 2015 of RM93m)...

is this possible?
let's review:

in 2015, USD/MYR is around 4.2-4.4
in 1st half of 2016, USD/MYR dropped significantly to around 3.8-3.9.
in 2017, USD/MYR is expected to return to 4.4-4.5 or even higher... with this, plus the new expansion of RTA, MDF & particleboard (premium grade)... i think net profit of RM100m is achievable... this 100m has taken into account of lower average selling price (ASP).. else it will be more... and in 2015, the adjusted share price hit as high as RM1.70 (after adjustment from bonus issue of 2:1)... so by end of 2017, it is not hard to see the price to go back to this value or higher if the performance catches up... can you hold for one year? no, then pls skip this share...

Posted by Goodluck888 > 2016-12-05 16:03 | Report Abuse

Bank Negara has applied a new policy where it's impact to export business companies now. Pls check for more details.

Posted by myportfolio > 2016-12-05 16:11 | Report Abuse

Right - but exporters are currently appealing to BNM that 75% of all new export proceeds to be in the form of MYR is too much. Export players are currently negotiating @ 50% - stay tune for news

Posted by air01557 > 2016-12-05 16:18 | Report Abuse

I agree with Dolly - this is a good buy but must hold for mid term.

Posted by air01557 > 2016-12-05 16:22 | Report Abuse

Just ignore wahahaha - he is a CLOWN

Posted by Sephy > 2016-12-05 17:45 | Report Abuse

Did you all know that fund managers in Malaysia cant change MYR to foreign currency to trade foreign stocks as of today?

Posted by Jenas Tan > 2016-12-06 10:20 | Report Abuse

any sign of rebound? hahaha

Posted by USApg > 2016-12-06 10:53 | Report Abuse

Rubber plantation and indusrial land to be sold estimeted worth 100 million

Posted by Dolly_Chai > 2016-12-06 11:00 | Report Abuse

haha... confirmed this wahahaha is the abcb who had been banned, based on what he wrote... simply stupid...

harloooooo wahahaha a.k.a abcb a.k.a. clown:

Evergreen is NOT a furniture maker... if u dunno anything, pls just shut up... it is very stupid of you to compare Evergreen with furniture makers like Liihen, Pohuat, Latitud or Homeritz...

You know nothing about Evergreen but act like an expert.. that makes us here really sick of you...

Admin of i3, can you please ban this clown again... we strongly demand for banning this joker who posted wrong and misleading info...

Posted by Dolly_Chai > 2016-12-06 11:02 | Report Abuse

as furniture makers are not as capital-intensive as MDF maker, so you are comparing an apple to an orange... It is not fair to say that Evergreen is bad as it requires more capital, it is just because of the nature of their business... so Mr Clown wahahaha, can you grow up and widen your knowledge before you comment? please....

Posted by Tom Leem > 2016-12-06 11:31 | Report Abuse

just run.....haha

Posted by patrickngoa > 2016-12-06 12:07 | Report Abuse

time to buy at 89, lol

Posted by king36 > 2016-12-06 15:14 | Report Abuse

Should look at AHB - zero debt!
Very Cheap too.

Posted by myportfolio > 2016-12-06 21:31 | Report Abuse

damm - miss out to buy below 0.89 :((

Posted by Jenas Tan > 2016-12-06 23:59 | Report Abuse

shit...shares buy back... Miss the gold

Posted by alexwest > 2016-12-07 11:51 | Report Abuse

got any good news?

Posted by idiotbuster > 2016-12-07 17:02 | Report Abuse

hevea down 2 cents, already in downtrend hahaha...sell hevea lah

Posted by Jenas Tan > 2016-12-07 17:37 | Report Abuse

lol... idiot...

Posted by CUTLOST > 2016-12-08 08:41 | Report Abuse

Ikea coming 2017 in JB..do not miss the boat next 2017

Posted by chernhung > 2016-12-08 09:43 | Report Abuse

i sold evergreen at 0.99. What i think is even the production capacity is expanded, there could be the risk that the market would not absorb all its products. Anyway, the price now is quite attractive for me.

Posted by Sephy > 2016-12-08 09:45 | Report Abuse

evergreen is a poorly run company with Singaporean executive only thinking about placement to increase his own salary.

Posted by stockraider > 2016-12-08 09:48 | Report Abuse

Evergreen badly run meh ?
Ok mah....the business are making monies, despite board price came down mah......!!
also most of the corp plans, had been on course mah.....!!
where got badly run leh ?

Posted by CUTLOST > 2016-12-08 11:25 | Report Abuse

Go go Evegreen.

Posted by air01557 > 2016-12-08 11:44 | Report Abuse

looks like the price has stabilised.

Posted by air01557 > 2016-12-08 12:26 | Report Abuse

and now for a rebound

Posted by chernhung > 2016-12-08 13:08 | Report Abuse

Evergreen not running that bad la, it just depends how we value its share price based on personal judgment and we decide our best entry point.

Posted by air01557 > 2016-12-08 13:27 | Report Abuse

well put chernhung - this stock is for mid term not short term.

Posted by chernhung > 2016-12-08 14:09 | Report Abuse

I was frighten by the big shark manipulating the price from RM1.x to RM0.7x, then suddenly went up to RM1.x again, and now goes back to RM0.90. unless it reach my best entry price otherwise i would rather give up to step in again.

Posted by air01557 > 2016-12-08 15:08 | Report Abuse

strong buying at 91.5

Posted by HupSengBiscuit > 2016-12-09 07:26 | Report Abuse

Hopefully today suddenly boost up till RM 1.10...HAHA

Posted by Jenas Tan > 2016-12-09 11:48 | Report Abuse

Fly fly fly

Posted by air01557 > 2016-12-09 12:16 | Report Abuse

yes as I said the rebound is happening

Posted by stockraider > 2016-12-09 14:36 |

Post removed.Why?

Posted by idiotbuster > 2016-12-09 15:10 | Report Abuse

hevea is better than evergreen lah.why ? because wahahaha say so.
hevea look like heaven also sound like but........

Posted by stockraider > 2016-12-09 15:46 | Report Abuse

Evergreen...Mari...mari.....!!
Sudah mari $$$$$$$$$$$.....loh....!!

Posted by Investor5711 > 2016-12-09 15:48 | Report Abuse

based on chart evergreen is going uptrend, buy now as price still low. this few days also oversold

Posted by Jenas Tan > 2016-12-09 15:51 | Report Abuse

Fly evergreen and don't come back hahah

Posted by air01557 > 2016-12-09 16:19 | Report Abuse

red is the colour of TMS and green is the colour of Evergreen

Posted by patrickngoa > 2016-12-09 16:29 | Report Abuse

sold 96, lol