the Gross Profit already included the forex gain as their revenue were converted at current forex rate of 4.20. Higher GP mainly contributed by the forex gain in revenue. Revenue in term of USD had decreased by about 9% to 11%.
the realized/unrealized forex gains are gains on those assets the group hold in USD such as USD cash and deposits, receivables, investments and etc.
LTH has the lowest in PE among furniture stocks even though LTH is the largest among all. low PE may be because of - KYY and his speculator cronies are selling - low dividend as major shareholders are cash rich - major shareholders did not push up the share price where others did
Mr Koon already sell low...u think he now only sell? don't be so stupid... he will said regretting not to see... he will start collecting back, then aster collect, he will ask why u should buy it Latitud... anywhere...ur loss will be donated by him...is a win win situation as well...don't scare to take ur loss...
wow long time didnt see i3vestor since i clear my stock during Jan 2016 after i realised that USA economy is not doing well. Currently i am in the pure cash position.
After i saw the comment here for the this few months, i realised im quite famous here.
Thank you for your compliment from muscle and JT Yeo.
Anyway, i sold all my latitude during Jan 2016 between RM7.4 to RM7.6.
But who cares you all attacking me? Am I recommending on January 2016? In fact, I did not see the i3vestor at all until today when the result came out.
Attacking me is useless now. My article written during Oct 2015.
JT Yeo can attack me and say anything he wan but the facts is there is alot of changes in this world. You need to update yourself and stop blaming.
Liihen came out with good QR and special dividend 6 cent. Liihen has been giving consistent dividend every quarter. Liihen can do it, why not latitude? Anyway i do not hold any latitude at the moment. (I hold Liihen). No doubt Latitude is the largest furniture company with excellent revenue and net profit (Better than Liihen). Net cash position also better than any other export counter but dividend yield is the lowest among them.
Didnt attack you, just stating the fact it is 'more undervalued' now based on your previous PE. You have the right to tell me if you think it is overvalued. Never blame you.
Undervalued or overvalued is not the issue. As shareholders we expect the directors to manage the company well and also be generous to the shareholders. Look at all the furniture stocks when profits are made they share with the minority shareholders by generously distributing the profits in the form of div or bonuses. No point in earning EPS 90+sen, PE=6.88 and NAPS=5.10, but directors not being generous. They hoard the cash for whom or what? Very very selfish Look at Karex they reward the shareholders generously by giving bonus in 2014 1:2, 2015= 1:2 and now 2/2016 propose again 1:2. Their NTA only 60sen. Now buying up another furniture factory where one of their directors has an interest. Expanding expected but look after shareholders too. This company is just like SPB & Oriental big cash reserves but shareholders hang their tongues out waiting like beggars for crumbs.
Big shark unload after Latitud posted another good earning results. Who is the big shark...I think everybody know. He make it drop, then for sure will make it up again later in order to unload all his shares. Thus, we need to grap this opportunity to buy at low ;)
let's be clear here. There are many ways for a company to reward shareholder, dividend is just one way.
Latitude doesn't give special dividend or whatever surprise reward doesn't mean they are not generous. Berkshire Hathaway never have dividend since 1979, but look at the share price. Same theory, profit that are not distribute to you in dividend will be retained in the business. If the mgt use it for more productive investment i.e. expansion, acquisition etc to grow the value, that is a good thing. The only difference is that, one, you have the money in your bank acc, another, is in the form of increase in share price.
And if you ask me, all these bonus issue, split share, they are all just BS 'gimmick'. The more a company do all these, the more you have to be careful.
The ultimate question you need to ask is this - Does it increase the value of the business? Does it make more money?
Bonus issue - Yes they give you more shares, but does the company make more money because of bonus issue? NO
Split share - Does holding 100 shares become 200 shares make's you richer? NO
You have to know Karex is a condom maker while Latitude is a timber/furniture manufacturer, very different thing. And you are correct Karex NTA is only 60 cents and people are pricing it like Hartalega. Those people that enter at a high price banking on their future growth is going to get killed. Ansell, one of the famous condom brand is only selling at 1.7x NTA, and you have Karex going at 5.7x, crazy valuation
JTYeo, Good morning. All your explanation accepted and taken. About bonus & split shares which leads to dilution accepted too. My only bone of contention here is that the directors tend to horde too much cash. They have tons of cash for expansion and building the company. Surely there is a limit to it too. While the shareholders wait, crumbs are thrown to them annually around 10 sen. Surely the big profits made needs to be shared by the shareholders too. Question is why are the directors hording soo much cash....have they a sinister motive.(Remember the case of Protosco) Even Bat, Dutch Lady & Nestle reward their shareholders handsomely every quarterly/yearly. We are only asking for profits to be shared generously, nothing more nothing less. Thank you & have a good day
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Jim Tan
255 posts
Posted by Jim Tan > 2016-02-23 19:34 | Report Abuse
Net Cash Company
Annualized EPS (Assuming EPS 100) At Current price of 6.83, PE would be 6.83
If USD/RM do remain, i think at current price it is very worth compare to other Peers