Hevea, Time to Alight 亿维雅，是时候下车了！
HEVEA will have a hard time explaining this accounting beautification
"........Shortly after Hevea was listed, it went on a borrowing spree of some RM200 plus million. And only to find itself engulfed right in the eye of the US Subprime storm in 2008, saddling with a huge debts to the tune of hundreds of million. And the shares price of Hevea tanked to as low as 7 sen a share. Almost all of the substantial shareholders' Hevea shares were forced sold by OSK Securities.
In order to endure through this hardship, besides selling their personal properties and assets to meet the bankers and stockbrokers' demand for payment on a personal level, Hevea is also cash-strapped. And there are hundreds of mouth to be fed in the idling and redundant factories.
The shareholders of Heveawood Industries Sdn. Bhd. (as it is only an ultimate shareholdings entity to Hevea and still remained relatively clean in balance sheet) decided to gear itself up, in order to secure the much needed cash flow to sustain Hevea.........."
Pending the completion of my investigative article about several accounting 'Beautifications" by Heveaboard, one of which is as above, to be released today the earliest.
Watch out for a series of articles in my blog entitled HEVEA : The Ingenuity Accounting "完美"会计
More articles on Hevea, Time to Alight 亿维雅，是时候下车了！
HEVEA - Potential Act of Criminal Breach of Trust (Series Two) 失信疑案（二）
Created by robertl | Jan 27, 2016
HEVEA - Potential Act of Criminal Breach of Trust (Series One) 失信疑案（一）
Created by robertl | Jan 25, 2016
Discussions
1 person likes this. Showing 50 of 65 comments
if there is a reason to sell these barrage of reports could be the one....no stock is worth its salt. time to move over to the next. im sure there are plenty of other beauties around bursa or elsewhere in the world.
2016-01-08 10:09
Maybe...now use to cash div to support the prices...limited earning potential...unless they expanded their production capacity...
2016-01-08 10:10
btw, I am now a hevea shareholder, bought 10,000 WB yesterday at 1.35 for KFC purpose LOL
2016-01-08 10:10
yeah ... hevea is moving on to new phase ... that's why the directors is selling like no tomolo. HAHAHAHAHAHAH ... HAHAHAHAHAHAHAH ...
2016-01-08 10:11
Icon8888, because hevea PE ratio is still healthy, and most ppl believe USD will be strengthening further
2016-01-08 10:12
no icon...u r not yet...warrant holders does not eligible for voting rights or attendance of their meetings if im not wrong..
2016-01-08 10:13
PE ratio of last year earning ? Try use PE ratio for coming next 12 month lar ... will give totally different reading lor.
2016-01-08 10:14
"A friend of mine who works for Heveapac Sdn. Bhd., one of the main subsidiaries of Hevea Board Berhad, sent me the above civil suit cases which are still ongoing. He knows that I bought {{a lot of Hevea}} shares since early 2014 and was concerned for my investment as a friend because of these suits."
http://klse.i3investor.com/blogs/heveatimetoalight/89220.jsp
Hahaha,
Robertl, you last say you buy a lot of Hevea 2014, now you said "HEVEA will have a hard time explaining this accounting beautification" hahahaha, funny!!
2016-01-08 10:26
careful .... TOtal Liablities veri veri high, current asset veli veli low ... NA less than 82 sen ... selling at 1.60 ? u still need to think ? Keep thinking ... keep thinking ....
2016-01-08 10:35
Good debt or bad debt it doesn't matter as Hevea only has all the good debt
2016-01-08 10:38
BTW it is the quality of the part 3 insider news?
I has disappointed the price didn't tank much...
2016-01-08 10:39
We should buy more of Hevea as the forces of good will prevail over the forces of evil. Look at Lii Hen. The present syndicate is big and strong and with the catalyst of excellent 4th quarter profits,potential bonus and free warrant i can tell you confidently for Hevea to reach RM2 is no problem.
The management through OTB has given a convincing reply on the the court case of dividend (so small a matter) and the Korean containers which was not detained but reported as if so serious and the losses so much.
Please note the sales of Hevea at present is so overwhelming that they cannot handle and have to redirect to Mieco.
2016-01-08 10:42
700 containers and 700m3 is world of difference.
Reliability of information is questionable.
2016-01-08 10:43
Too bad the guy who do not read number carefully want to talk about accounting, I'm surprise he could get a correct number this time.
2016-01-08 10:49
We don't see any surge in Inventories, Debtors, Plant & Mahinery or Borrowings. It's very unlikely Hevea management has beautified the accounts.
2016-01-08 10:49
May be he will get the wrong currency this time, instead of USD 100,000 he will end up with MYR or SGD or JPY or CNY or whatever he can get a joke out of it
2016-01-08 10:51
May be the author need to go for a class before proceed to the part 4?
2016-01-08 10:52
700m3 is wrongly quoted by Ooi or Hevea, because each 20' container is about 39 m3. https://en.wikipedia.org/wiki/Twenty-foot_equivalent_unit . 700m3 is only 18 containers.
It has to be 700 containers lah, otherwise why fly to Korea secretly and urgently?
2016-01-08 10:58
If the turnover is not real then where the cash come for repayment of loan 44 million for the last 9 months. It could be a baseless allegation. Haha.
2016-01-08 11:02
Author your pay cut 50% by now, the next time you did it again, another 50% discount, how much money left to pay you? Can it guarantee your CNY bonus in coming month?
I make tons of money from your bad news, I treat you eat ok, dun be so angry
2016-01-08 11:03
i dare not to touch xingquan! but i m collecting hevea...2.50 in 6-9 months..
2016-01-08 11:56
may b i should thanks robertl..otherwise may b i wont have chance to reload at 1.61 today:)
2016-01-08 12:00
Hey robertl， you know when we do consolidation and show the group amount, of course the amount wont show in the Heaveboard Berhad account la. It is related party amount. When they doing consolidation, they will eliminated the related party amount la. Wtf you talking about "Beautifications".
What is group amount? It is like a family. Subsidiary is like brother and sister. When u wan show as a family amount, surely wont show the amount owe between brother and sister la. Noob.
You dont have any accounting knowledge please dun talk cock.
I did not hold Hevea but however i feel angry when you spreading brainless news
2016-01-08 13:13
In the last blog he wrote he would start looking into another counter. Why spend time writing so much on hevea it is contradicting. Lost interest but not yet lose all interest. Among some of the bloggers i have seen once they conclude no more future for that company they would just stop there and they would recommend new stock and write good thing about the new stock
2016-01-08 14:11
because she is enjoying revealing the truth. Yes ... we all know ... THE TRUTH really really HURT. BOOH CHOOOOW CCCCCCCCCCCCC AAAAAAAAAAAAAAAAAAAA !!!
2016-01-08 15:26
funny thing is ... why u sound so unhappy when the price is comin down ? err ... err ..... HAHAHAHAHAHAHAHAHAHAHAHAH !!
2016-01-08 16:26
Normally ppl collect when there is a big fall like >10%. Why ppl wana collect when it is down few cents.
2016-01-08 17:23
Hi Robert.
Thank you for your information,true or false ? can you show us the proof copy of
the legal documents & the export permits to Korea.I am interested to know further.
2016-01-08 17:32
pingdan, hold your anger lah. You also never check the fact. Heveawood is NOT even a subsidiary of Hevea lah. So your accounting comment is like barking at the wrong tree, Lol
2016-01-08 17:44
Robert, you wrong aim on the stock lah. You should aim some stock with less faudemental 1. In this case, you just like throw a small stone to the tanker, nothing will happen. Some more more investor like us to prepare a big basket waiting durian fall down, haha.
2016-01-08 17:45
Hevea : Amount due to related partY as Item 19, clearly indicate that Hevea owed ONE outsider company which is related to them but not in shareholdings (i.e. subsidiaries or associate company). This can be a company where the shareholders can be the COMMON SHAREHOLDERS in both companies, that is why they are RELATED.
In this case, Yong Hau Choon is a common shareholder of both Hevea and Heveawood. The same go for Dato Loo because he too, is a common shareholder of both Hevea and Heveawood.
ok?
2016-01-08 17:51
Icon8888 RM2.3 mil ? LOL
08/01/2016 09:50
You seem to take it that unless the loot destroy entirely the shareholders value, then it is only a seriou ones. No doubt, RM 2.3m to you may be loose change, but a crime is a crime and the quantum was never a consideration.
Our PM can robbed RM2.6b from us, does not mean if the court convicts him, he will be punished a lot longer than a man who robbed only RM2.3m. That is the law.
2016-01-08 17:57
Robert, if you got proof just report to Bursa or SC. I am waiting for it. Don't talk nonsense here.
2016-01-08 18:33
OTB, can you please repeat the reply from Hevea management on the court case and Korean consignment. Many of them have not read because you only post in one Hevea forum and the writer has it removed, i think. For the benefit of all those who has not read the reply and to counter false rumours, please repeat them in all Hevea forum, which i think there are at least 3 of them. We must not allow lies to prevail. Thanks
2016-01-08 19:12
Blog comment on HEVEA, Internal Cracks Emerging 亿维雅，股东内鬨
Author: robertl | Publish date: Wed, 6 Jan 2016, 02:38 PM
Ooi Teik Bee
Dear valued readers in I3,
I understand many of you are so worried about your investment in Hevea. In order to help you all, I take the initiative to write to Hevea management to clarify 2 items here.
1 - Court case
2 - 700 containers of reject (Actual is 700 m3 not containers).
Below are the answers to both items.
1 - Court case.
The court case is involving our minor shareholders in HeveaWood claiming no dividends after many years despite HB gave limited dividends. We are unable to pay as we have a loan governance to pay borrowers first. The case was won twice but the plaintiffs still brought it to appeal court. This is non issue if we pay up all loans in June this year.
2 - 700 containers of reject (Actual is 700 m3 not containers).
We had an issue that 700m3 of our PB to Korea were held up in Korean port over quality problem last October due to wrong testing method. This is resolved after our protest, our test, local labs, and Korean labs subsequently prove us right. The results are better that requirements. Thus all cargo cleared.
Dear valued readers, I am not siding any party here. I just get the explanation from Hevea management so that all my subscribers are happy with my explanation.
Since I have the answer, I hope to share with all readers here. If you do not believe, please ignore it.
I am not asking you to buy or hold the shares, final decision is yours.
Thank you.
Ooi
07/01/2016 22:03
2016-01-08 19:32
despite all the bad reporting and local/global stock market weakness, Hv price remain resilient...less than 10% off its all time high...still no sign of selling by many of its big shareholders...we shall see whether this support would continue or not...short term shareholders would of course want 'em to push the counter to another new all time high before CNY
Good luck...and whether Hv shareholder or not, wishing all a prosperous new year ahead!
2016-01-08 19:50
i believe OTB and other big stock investment sifu isnt going to waste anymore of thier time reading this squealers article let alone replying to it. Heveaboard mgt has issued official clarification and file with Bursa. they wont be entertaining this rat here anymore.
this rat just need a stage and audience. outside this page, he is just a squealing rodent
2016-01-13 19:39
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Icon8888
whoever is chasing might not be wrong
Hevea is moving into a new phase
the existing phase is based on earnings growth, which the story has more or less become stale (as pointed out by you)
they are now on the verge of moving into the next phase. With borrowings pared down, they will start paying out dividend. This will allow valuation to be moved from that of PER to dividend yield. People will accept the story when the dividend money flows into their pockets. The upcycle continues...
murali But frankly, I dont know why people are still promoting Hevea at current level..Rm1.62 X4 + RM6.48...about 300% up from RM1.60 last Jan (RM0.40 after split)...crazy
08/01/2016 10:01
2016-01-08 10:08