LEE SWEE KIAT GROUP BHD

KLSE (MYR): LEESK (8079)

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Last Price

0.695

Today's Change

+0.005 (0.72%)

Day's Change

0.695 - 0.70

Trading Volume

21,000

Overview

Market Cap

117 Million

NOSH

168 Million

Avg Volume (4 weeks)

65,873

4 Weeks Range

0.665 - 0.795

4 Weeks Price Volatility (%)

23.08%

52 Weeks Range

0.665 - 1.03

52 Weeks Price Volatility (%)

8.22%

Previous Close

0.695

Open

0.70

Bid

0.695 x 49,100

Ask

0.70 x 20,000

Day's Range

0.695 - 0.70

Trading Volume

21,000

Financial Highlight

Latest Quarter | Ann. Date

31-Dec-2021 [#4] | 21-Feb-2022

Next QR | Est. Ann. Date

31-Mar-2022 | 24-May-2022

T4Q P/E | EY

15.38 | 6.50%

T4Q DY | Payout %

3.47% | 53.33%

T4Q NAPS | P/NAPS

0.37 | 1.90

T4Q NP Margin | ROE

7.19% | 12.34%

Market Buzz
Company Profile

Sector: CONSUMER PRODUCTS & SERVICES

Sector: CONSUMER PRODUCTS & SERVICES

Subsector: HOUSEHOLD GOODS

Subsector: HOUSEHOLD GOODS

Description:

Lee Swee Kiat Group Bhd operates in the Mattresses and bedsprings sector in Malaysia. The company is engaged in the manufacturing, trading, and distribution of mattresses, bedding accessories, laminated foam, polyurethane foam, natural latex foam and other related products. LSK operates a retail chain store under Brand IBG that promotes Ergonomic beddings and furniture. It also engages in investment holding activity.

Discussions
7 people like this. Showing 50 of 1,965 comments

thesteward

Chun chun

2020-12-14 13:57

thesteward

First highlighted ard 50 sen . Don’t chase stocks

2020-12-14 15:08

Fundamentalist91

Good job guys, those who had stayed with me since the start, I suggest taking profit now, I did too. RM1. I still have half of my original position for long term.

When things are too good, don't be too greedy

2020-12-14 16:59

limsingpoh9497

Tp for tomorrow : RM.1.16

2020-12-14 22:30

StockHunters

Target at least RM 1.20 in 1 week.
By next QR target RM 1.90

2020-12-14 23:26

thesteward

Tomolo I might tp some swap (fm 50 sen ) n add tambun n lionposim . Comgrars and all the best !

2020-12-15 05:04

StockHunters

Tomorrow gap up and close high green.

2020-12-15 18:54

StockHunters

TP by end of dec this year - RM 1.5 above.

2020-12-15 18:55

thundery

If bank told you target is 1.9 means actual target is half of that, means need to sell now.

2020-12-17 09:41

StockHunters

lame statement by thundery. no such thing.

So CIMB target 1.6, now already 95 sen, double wor?

2020-12-17 19:34

StockHunters

TP RM 1.5 in 2 weeks. simple.

2020-12-17 19:35

limsingpoh9497

TP for tomorrow:RM1.10

2020-12-17 22:09

SEE_Research

THIS STOCK IS TOP SMALL CAP PICK FOR 2021 (106% POTENTIAL UPSIDE)
Author: Chongkh888
Publish date: Thu, 17 Dec 2020, 10:35 PM

Lee Swee Kiat is one of the top 3 small cap picks with the highest upside (+106%), according to CGS-CIMB Research
latest strategy report.





Summary



LSK is Malaysia’s largest manufacturer of natural bedding products, with annual production capacity of 6,000 tonnes.



LSK should record stronger quarters ahead, driven by higher semi-foam demand from export markets and maiden contribution from JV with Cuckoo.



LSK is targeting at least RM100m (LSK’s portion) from the JV in the next 3 years. Do note LSK existing business recorded RM100m sales
last year.



Reiterate ADD with TP of RM1.60 (12.9x CY22F P/E, a 30% discount to our consumer discretionary sector CY22F target P/E of 18.4x


- CGS-CIMB Research

2020-12-18 04:26

5877max

Post removed.Why?

2020-12-20 00:27

thesteward

Such nice FA hope can at least perform like cymao

2021-01-13 16:13

investingnewbie

There's some nice activity today, will it continue to increase?

2021-02-02 12:43

investingnewbie

I'm on the boat :(

2021-02-08 20:54

investingnewbie

I'm stuck at 0.92 hahaha

2021-02-11 09:58

SpicyMcDeluxe

kekw

2021-02-22 12:08

swagger855

Lel

2021-02-22 15:21

Silentreader88

almost LU 1.28
watch out other furniture homeritz

2021-02-22 15:46

Battleman

Highest RM 1. 27, now rewind

2021-02-24 18:18

mooninvestor168

correction before the next push, wait US market recover more :) collected more today.

2021-03-01 13:44

Begineer

any news on the cuckoo mattress collaboration? when will they launch the product?

2021-03-12 17:10

Superb99

this counter like very slow, too little volume

2021-04-21 09:37

Superb99

0.975...gg.com

2021-04-21 14:22

Superb99

snail counter, same like SAPIND...little volume every day

2021-04-22 15:20

Rwkl

From the cover of the AR, is the subject on the mattress comes along with the lease?

2021-04-25 00:03

Superb99

Can tabao liao

2021-04-26 18:05

Superb99

Lesson learned, stay away from low volume counter like this leesk...pui

2021-04-27 09:26

ANYU

该让时间告诉我们。

2021-05-09 09:42

Superb99

1 day only 100 over lots are traded and price is so flat

2021-05-18 14:52

Shadow Fiend

AGM highlights:
1) domestic sales are very encouraging but cannot confirm the effect of MCO 3.0 which may affect it temporarily,
2) export sales are also good but due to rising of ocean freight cost, some customers may delay the import for awhile,
3) sales derived from Cuckoo just started at end of March 2021 and target sale is 10k-14k mattresses in 2021,
4) even with rising of raw material costs, leesk able to pass it to customers,
5) acquired automation machines in 2020 which can increase capacity but pending foreign technician to fly over for commissioning,
6) bought 8 units of dormitories for foreign workers to comply ESG,
7) production is running at full capacity but MCO 3.0 limited 60% of workers may affect it in short term.

2021-05-24 10:56

Superb99

Up a bit then go again

2021-05-25 11:30

Superb99

thus rubbish counter can tabao liao, positive result but longkang price

2021-05-25 17:39

Superb99

686 lots and price below 90 cents again...this BOD is sleeping

2021-05-27 14:54

Superb99

This lc counter sure gap down again next week

2021-05-29 20:35

Begineer

will it continue to drop?

2021-06-03 16:49

Superb99

Most likely yes, keep breaking support and so far no sigh of rebound...this counter is very quiet, not many people playing

2021-06-04 21:40

Superb99

this is really a LC company

2021-06-08 17:12

Begineer

wao... will drop till???

2021-06-16 16:54

Superb99

i cut half d, so far the price is still not supported plus poor market sentiment...most likely it will drop further....just my personal view

2021-06-16 17:23

KL_82

Time to top up :)

2021-07-03 10:49

risktoreward

enter @ 0.94

2021-09-15 09:03

risktoreward

add @ 0.92

2021-09-15 21:33

thesteward

Leesk Cimb high target

2022-01-13 16:17

thesteward

If can close at 84/85 then looks bullish

2022-01-13 16:18

rikki

On track for record earnings in 2022F - Target Price RM1.84

■ We view LSK as a proxy to the recovery in consumer spending, backed by: i)
higher mattress sales, ii) price hikes, and iii) higher economies of scale.
■ We expect LSK’s collaboration with Cuckoo Malaysia to propel its profitability
to new heights going forward, with more marketing activities expected.
■ LSK’s valuation is undemanding at 5.5x CY23 P/E, an 81.6% discount to our
discretionary consumer sector’s mean CY23 P/E. Reiterate Add.

Witnessing a rebound in local sales since 4Q21

Since the gradual lifting of lockdown measures starting Oct 21, LSK has been witnessing
a strong rebound in sales in the local market. This is in tandem with the reopening of its
retail outlets, as well as more large-scale furniture fairs and exhibitions being held. On top
of that, we gather that LSK has seen a surge in mattress sales in areas affected by the
recent floods. Supported by the price increases effective 1H21, we expect the higher sales
to translate into margin expansion for the company from 4Q21 onwards.

Sales of A-series mattress in 2021 affected by lockdowns

While LSK aimed to sell 12,000 A-series mattresses (sold under LSK‘s collaboration with
Cuckoo) in 2021F, sales likely fell short (estimated to reach only 7,000, which is in line with
our estimates) due to the impact of various lockdowns throughout 2021. Nevertheless, we
take comfort that sales in May 21 (prior to the implementation of a full movement control
order [FMCO] in Jun-Sep 2021) was an encouraging 1.5k units.

Still optimistic on prospects of collaboration with Cuckoo

We remain optimistic about LSK’s collaboration with Cuckoo International. With the lifting
of lockdown measures and supported by better consumer sentiment and more marketing
activities, LSK is confident of achieving sales of 20,000 units (+185% yoy) in FY22F. In our
view, the rental model (with low initial purchase cost) offered by Cuckoo-LSK when
purchasing A-series mattresses could also be an attractive proposition to buyers amid the
current subdued consumer sentiment. Note that LSK expects contributions from its
collaboration with Cuckoo to contribute at least 20% of its turnover from FY22F onwards.

Net cash position will support attractive dividend yields in FY23-24F

As at end-3Q21, LSK has a net cash position of RM5.6m. With no major capex planned in
FY22-23F (flat at RM3.5m for FY21-23F), we expect its robust balance sheet to support its
dividend payouts (45% for FY21-23F). With an expected rebound in earnings, mainly in
FY22-23F, this could translate into solid dividend yields of 2.9-8.3% for FY21-23F.

Reiterate our Add call

We make no changes to our FY22-24F EPS forecasts. We also keep our Add call and TP
of RM1.84, based on 13x CY23 P/E, in line with its 5-year mean. We continue to like LSK
for its: i) defensive business (resilient demand for beds); ii) attractive valuation (5.5x CY23F
P/E); and iii) strong fundamentals (high ROE and net cash position). Re-rating catalyst: a
spike in sales volume and higher-than-expected sales from its collaboration with Cuckoo.

CGSCIMB Research January 12, 2022

2 months ago

hom3boy

Anyone comment ..

1 month ago

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

P/E Ratio (TTM)
16.20(04/07/22)
EPS (TTM)
RM0.05
Market Cap
RM129.40 M
Shares Outstanding
N/A
Public Float
155.91 M


Revenues and profits have been up and down during the last 5 years. Given this lack-lustre consistent growth, it is not a company that for holding for the long term.

The share price has traded over a range and this might be of interest for short term players.

1 month ago

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