LEE SWEE KIAT GROUP BHD
KLSE (MYR): LEESK (8079)
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Last Price
0.75
Today's Change
0.00 (0.00%)
Day's Change
0.75 - 0.755
Trading Volume
5,800
Overview
Market Cap
126 Million
NOSH
168 Million
Avg Volume (4 weeks)
96,073
4 Weeks Range
0.75 - 0.81
4 Weeks Price Volatility (%)
0.00%
52 Weeks Range
0.60 - 0.89
52 Weeks Price Volatility (%)
51.72%
Previous Close
0.75
Open
0.755
Bid
0.755 x 1,400
Ask
0.80 x 119,300
Day's Range
0.75 - 0.755
Trading Volume
5,800
Financial Highlight
Latest Quarter | Ann. Date
30-Jun-2023 [#2] | 21-Aug-2023
Next QR | Est. Ann. Date
30-Sep-2023 | 21-Nov-2023
T4Q P/E | EY
10.23 | 9.78%
T4Q DY | Payout %
4.49% | 45.91%
T4Q NAPS | P/NAPS
0.41 | 1.81
T4Q NP Margin | ROE
9.62% | 17.73%
Market Buzz
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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 1,975 comments
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
correction before the next push, wait US market recover more :) collected more today.
2021-03-01 13:44
any news on the cuckoo mattress collaboration? when will they launch the product?
2021-03-12 17:10
From the cover of the AR, is the subject on the mattress comes along with the lease?
2021-04-25 00:03
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
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
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
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
2022-02-17 11:15
Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥
P/E Ratio (TTM)
16.20(04/07/22)
EPS (TTM)
RM0.05
Market Cap
RM129.40 M
Shares Outstanding
N/A
Public Float
155.91 M
Revenues and profits have been up and down during the last 5 years. Given this lack-lustre consistent growth, it is not a company that for holding for the long term.
The share price has traded over a range and this might be of interest for short term players.
2022-04-07 16:42
Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$â¬Â£Â¥
Security LastPr PE DY% Divcts ROE ttm-marg
LEESK (Household) 0.76 9.79 4.6 3.5 17.64 10.1
2023-03-30 16:15
Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$â¬Â£Â¥
Ratios & Margins Lee Swee Kiat Group Bhd
All values updated annually at fiscal year end
Valuation
P/E Ratio (TTM) 9.31
P/E Ratio (including extraordinary items) -
Price to Sales Ratio 0.91
Price to Book Ratio -
Price to Cash Flow Ratio 7.00
Enterprise Value to EBITDA 6.14
Enterprise Value to Sales 0.85
Total Debt to Enterprise Value 0.12
Total Debt to EBITDA 0.69
EPS (recurring) 0.08
EPS (basic) 0.08
EPS (diluted) 0.08
Efficiency
Revenue/Employee -
Income Per Employee -
Receivables Turnover 8.08
Total Asset Turnover 1.19
Liquidity
Current Ratio 1.77
Quick Ratio 1.31
Cash Ratio 0.69
Profitability
Gross Margin -
Operating Margin +9.12
Pretax Margin +11.95
Net Margin +10.10
Return on Assets 12.02
Return on Equity 19.67
Return on Total Capital 14.73
Return on Invested Capital 17.67
Capital Structure
Total Debt to Total Equity 17.50
Total Debt to Total Capital 14.89
Total Debt to Total Assets 10.80
Interest Coverage 21.83
Long-Term Debt to Equity 9.33
Long-Term Debt to Total Capital 7.94
Long-Term Debt to Assets 0.06
Dec 2022
Cash & Short-Term Investment 23.43 M
Total Debt 12.36 M
Total Liabilities 43.65 M
Total Shareholder's Equity 70.61 M
KEY STOCK DATA
P/E Ratio (TTM)
9.31(04/20/23)
EPS (TTM)
RM0.08
Market Cap
RM121.32 M
Shares Outstanding
N/A
Public Float
155.91 M
2023-04-23 18:33
Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$â¬Â£Â¥
LEESK Financial Information
Market Capital (RM) : 125.86m
EPS (cent) : 7.76
Business+ : Member Only
Number of Share : 167.82m
P/E Ratio : 9.66
YoY Score : Member Only
TTM Revenue : 129.02M
ROE : 17.64%
QoQ Score : Member Only
TTM Profit : 13.03M
Dividend (cent) : 3.500 ^
Debt/Asset Ratio : Member Only
TTM Profit Margin : 10.1%
Dividend Yield : 4.67%
Net Cash (RM) : Member Only
CAGR - Revenue : 11.5%
Dividend Policy : Member Only
Net Cash/Share (RM) : Member Only
CAGR - PAT : 16.7%
Dividend Payout : Member Only
Equity Growth : Member Only
NTA (RM) : 0.440
P/B Ratio : 1.70
2023-04-23 18:38
Price 75-78(buy on weaknesses)
Tp rm 1-rm 1.10(Medium term 6 month below)
17/6/23 11.30pm
****I come then it will up😀😀😀
2023-06-17 23:30
I carried out an analysis of the performance of the Bursa furniture sector over the past 13 years and this company was one screened for further investigation. If you want to see the details of the sector or the analysis of LEESK go to my blog.
2 months ago
Check out this YouTube analysis of the furniture sector https://www.youtube.com/watch?v=J--jjPbrc6I
1 month ago
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