Posted by keithchan > 2013-09-13 12:06 | Report Abuse

green colour one :)

Posted by ismailkarin > 2013-09-13 12:13 | Report Abuse

Malaysian Police HQ zooms in on Lii Hen

http://www.reddit.com/r/malaysia/comments/1lb4k7/malaysian_police_hq_zooms_in_on_lii_hen/

Posted by ismailkarin > 2013-09-13 12:20 | Report Abuse

was told SC was interested with the police investigation! They are in touch

Posted by simonfoo0123 > 2013-09-13 12:23 | Report Abuse

are U sure?

Posted by wahidpenang > 2013-09-13 12:28 | Report Abuse

yakah? Will cal my buddy in BA

Posted by unclekoo9900 > 2013-09-13 14:13 | Report Abuse

?

Posted by keithchan > 2013-09-13 14:58 | Report Abuse

wavering with few buyers

Posted by keithchan > 2013-09-13 15:00 | Report Abuse

want to sell big also cannot. Sigh

Posted by simonfoo0123 > 2013-09-13 15:03 | Report Abuse

ya ka?

Posted by sulaimanab1955 > 2013-09-13 15:05 | Report Abuse

dull stock. Volume 572 only

Posted by kkanagasg > 2013-09-13 15:14 | Report Abuse

http://klse.i3investor.com/blogs/liihen.blogspot.com/36936.jsp

New evidences revealed!

Posted by janetooi001 > 2013-09-13 15:21 | Report Abuse

大亊不妙啦! 聼說警察縂部已接手調查森州立案的Lii Hen䅁件. 那森州警察有关的調查官也已被調走. Bukit Aman非常重视此案, 並己設立一個特別調查小组于於跟进.

Posted by mfcheong1960 > 2013-09-13 15:24 | Report Abuse

why ppl keep writing on the stock?

Posted by janetooi001 > 2013-09-13 15:25 | Report Abuse

bcos the fraud may be $150m

Posted by simonfoo0123 > 2013-09-13 15:27 | Report Abuse

$150m? must sell how many furniture?

Posted by janetooi001 > 2013-09-13 15:29 | Report Abuse

more than upgrade all the government hospitals beds!

Posted by janetooi001 > 2013-09-13 15:30 | Report Abuse

hahaha

Posted by alwong1111 > 2013-09-13 16:19 | Report Abuse

from www.liihen.bolgspot.com .......By virtue of the foregoing, Tan Bee Eng is now caught red-handed under the same Section 84(1) in the sale and purchase of Lii Hen shares that did not involved any change of beneficial ownership because part of his sale proceed of RM 361,371.42 was used to purchase his Lii Hen shares by Dato' Goh

Posted by alwong1111 > 2013-09-13 16:23 | Report Abuse

from www.liihen.blogspot.com ........ Together with his false trading price which caused a misleading appearance of active trading of Lii Hen shares, Tan Bee Eng should have been charged under the same Act together with Dato' Goh and Siow Chung Peng by now. The legal chain of criminal liabilities would also shackles all those who sold the Lii Hen shares from Avenue Securities under the same modus operandi.

Hey Securities Commission, are you going to do anything now that the evidences are out in the open???

Posted by kkanagasg > 2013-09-13 16:26 | Report Abuse

To SC : do something to protect the small investors like us. Please don't just sit there

Posted by sulaimanab1955 > 2013-09-13 16:30 | Report Abuse

Relaxlah bro, they are looking at it. One of these days they will drop a bombshell to this stock when they haul up someone, or two, from Muar :D

Posted by ismailkarin > 2013-09-13 16:33 | Report Abuse

kasi kena kau kau then can buy at 50 or 60 sen! Better still macam Silver Bird tu punya harga gek gek gek

Posted by wahidpenang > 2013-09-13 16:35 | Report Abuse

aduh, sakit

Posted by alwong1111 > 2013-09-13 17:25 | Report Abuse

erkongseng : 老兄, 公司基本面只是门面, 现在连九年前的東西小股东也有本事挖出来, 里面到底有多少问题, 你我肯定不得而知. 现今摆在大家眼前的事实是有董事戥穿钱柜, 不只是伩心的问题, 而是诚信的问题.

不錯公司是慷慨派息, 但別忘了若是董事们挖銭, 他们挣大錢而我们只是拿到餅碎. 再者, 天曉得他们是否正在暗渡陳倉搞个马来西亜版的Bernard Madoff, 吸引着我们上釣?

第3季业绩应该不会太理想, 不然幹嘛董事先把本期的股息先減一半? 我想咱应该先观望一下, 反正最近利兴的坏消息層出不窮, 當今策略应该是先行迴避, 保本为上!

Posted by iafx > 2013-09-13 17:28 | Report Abuse

@wong, well said!!!

Posted by mfcheong1960 > 2013-09-15 00:11 | Report Abuse

Posted by xingxian > Jun 14, 2013 05:56 PM

While it is good, one thing to think about Lii Hen is its corporate governance. With so much related party transaction going on... for example this one...

Paragon Progress, Favourite Design, LH Furniture to purchase RM21.6 million Monthly from (1) Chua Lee Seng the lacquer, thinner and (2) Tan Bee Eng - principally involved furniture parts and (3) Tok Heng Leong in manufacturing (4) to award finishing works to Chua Yong Haup of coating, polyurethane, furniture parts and this one... Double Soon Huat FD to award sub-contract RM2.0 million Monthly to Chua Yong Haup's companies work for furniture parts and components sub-contractor,

why do we need a subcontracter in the family???!!!!

End result : (1) churning Lii Hen's annual turnover from A to B
(2) pocketing some profits of Lii Hen privately, in the process of churning
(3) what we see in the balance sheet may not be what it is!

Just IN : the way the board handled the 2012 AGM raises many red alert on its transparency and truthfulness.

Question : Is the high dividend payout a smoke screen to entice investors into its game?

Posted by wahidpenang > 2013-09-15 11:21 | Report Abuse

very good n valid points :D
Posted by xingxian > Jun 14, 2013 05:56 PM

While it is good, one thing to think about Lii Hen is its corporate governance. With so much related party transaction going on... for example this one...

Paragon Progress, Favourite Design, LH Furniture to purchase RM21.6 million Monthly from (1) Chua Lee Seng the lacquer, thinner and (2) Tan Bee Eng - principally involved furniture parts and (3) Tok Heng Leong in manufacturing (4) to award finishing works to Chua Yong Haup of coating, polyurethane, furniture parts and this one... Double Soon Huat FD to award sub-contract RM2.0 million Monthly to Chua Yong Haup's companies work for furniture parts and components sub-contractor,

why do we need a subcontracter in the family???!!!!

End result : (1) churning Lii Hen's annual turnover from A to B
(2) pocketing some profits of Lii Hen privately, in the process of churning
(3) what we see in the balance sheet may not be what it is!

Just IN : the way the board handled the 2012 AGM raises many red alert on its transparency and truthfulness.

Question : Is the high dividend payout a smoke screen to entice investors into its game?

Posted by sense maker > 2013-09-15 15:34 | Report Abuse

As I clarified before, RM21.6m and RM2m is annual sum. The frequency of these types of transactions is monthly. So, this is not a valid point as RM24m is small compared to annual turnover.

Posted by kashinglim50 > 2013-09-15 16:18 | Report Abuse

Excuse me Sense maker, RM 24m is almost 8.2% of Lii Hen's cost of sales of RM 293m in 2012. or 112% of its profit after tax of RM 21.36m. You will allow looting like this?

Posted by sense maker > 2013-09-15 21:01 | Report Abuse

I am not sure if 8% for lacquer, thinner, etc is reasonable as a component of production cost of furniture. I can live with it though. I was just rectifying the statement up there that states it is RM21.6m+RM2m every month whihc is grossly misleading.

Recurrent related party transactions exist in some companies and those who are not comfortable with the amounts should not hold the shares of that company.

It is an open market. We just have to make our own decisions.

Posted by mahli > 2013-09-16 19:34 | Report Abuse

Valid point, agreed 100%!

Posted by kkanagasg > 2013-09-17 10:47 | Report Abuse

Part 14, the cats are out in www.liihen.com or www.liihen.blogspot.com

Posted by wahidpenang > 2013-09-17 10:52 | Report Abuse

that Tan Bee Eng is toasted!

Posted by sulaimanab1955 > 2013-09-17 11:11 | Report Abuse

Aduh, everything is out. Possible multi violations oh

Posted by sulaimanab1955 > 2013-09-17 12:04 | Report Abuse

look like a few directors will be caught as well after reading the article in liihen.com

Posted by simonfoo0123 > 2013-09-17 12:07 | Report Abuse

Furniture stock? Account can be too good to be true. Look at Len Cheong last time. they can easily play with the inventories and material cost, like garment stock. This also partly explained the yo-yo results over the years

Posted by janetooi001 > 2013-09-17 12:34 | Report Abuse

證据確鐅

Posted by kkanagasg > 2013-09-17 15:21 | Report Abuse

Part 14, the cats are out in http://klse.i3investor.com/blogs/liihen.blogspot.com/37050.jsp

Posted by jordanravindran > 2013-09-17 15:28 | Report Abuse

First Tan Bee Eng, now Chua Lee Seng also looks precarious!

Posted by simonfoo0123 > 2013-09-17 15:35 | Report Abuse

.....Both Tan Bee Eng and Chua Lee Seng are caught with their pants down in this false and misleading UMA announcement to Bursa Malaysia......looks like more shxt is coming out from this muar company...

Posted by sulaimanab1955 > 2013-09-17 15:40 | Report Abuse

8% as the cost of a bedroom sets is very high, that is only vanishing oil a few ringgit can buy you a bottle. RM 21.6m spent on thinner or lacquer can buy you a decent size swimming pool in Jalan Duta!

Posted by sulaimanab1955 > 2013-09-17 15:42 | Report Abuse

8% as the cost of a bedroom sets in thinner or lacquer is very high, that is only vanishing oil, a few ringgit can buy you a bottle. RM 21.6m spent on thinner or lacquer can buy you a decent size swimming pool in Jalan Duta!

Posted by ismailkarin > 2013-09-17 15:45 | Report Abuse

pls call me when the thinner pool is ready in Jalan Duta, bang! :D

Posted by wahidpenang > 2013-09-17 15:47 | Report Abuse

Retweet : The Q2 result may be down by 20.55%, but hey look the board is also taking a precautionary action by slashing the dividend to 1.5%, half of what it used to be at previous announcement of results. Obviously future results will also not up to par going forward the way they are conserving cash now. Anyway, they are already 2 months into the physical Q3, only they know how bad it will be. Today's sell-down maybe the doing of insiders!

Posted by applejamestan > 2013-09-17 15:56 | Report Abuse

Worrying sign ---

Note to Q2 Financial Report : Revenue for the current quarter dipped 16.02%, caused by the reduction in export sales mainly due to the sluggish demand for the bedroom sets products in Lii Hen Furniture Sdn Bhd and Favourite Design Sdn Bhd.

Lower sales generated and higher direct manufacturing expenses in the current quarter resultant the profit before tax to decrease 55.20%. The higher direct manufacturing expenses in the current quarter were mainly due to increase in the wage rate, more overtime incurred due to shortage of workers and payment and provision of bonus and incentive amounted to RM636,000 and RM375,000 respectively.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1384829

Posted by janetooi001 > 2013-09-17 15:58 | Report Abuse

不祥的预兆 : Revenue for the current quarter dipped 16.02%, caused by the reduction in export sales mainly due to the sluggish demand for the bedroom sets products in Lii Hen Furniture Sdn Bhd and Favourite Design Sdn Bhd.

Lower sales generated and higher direct manufacturing expenses in the current quarter resultant the profit before tax to decrease 55.20%. The higher direct manufacturing expenses in the current quarter were mainly due to increase in the wage rate, more overtime incurred due to shortage of workers and payment and provision of bonus and incentive amounted to RM636,000 and RM375,000 respectively.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1384829

Posted by janetooi001 > 2013-09-17 16:02 | Report Abuse

收入少16.02%, 税前浄利減少55.02%, 但是马幣対美元一直減弱, 対利兴应该是好事的呀? 怎么会开倒车的呢? 當中定有蹺蹊.....

Posted by simonfoo0123 > 2013-09-17 16:06 | Report Abuse

现在利兴面对太多负面的消息, 内传马来亜銀行取消部份的银行透支便利, 不知真有此事?

Posted by keithchan > 2013-09-17 16:09 | Report Abuse

Possible, furniture industry is Sector Negative in many banks

Posted by kkanagasg > 2013-09-17 16:15 | Report Abuse

keith, quite true after all the furniture stocks fiasco....