sold $$$

run...

overreaction. good time to collect some :)

johotin should change its name into johomilk or something related to dairy product...hmmm

wah..drop almost rm1, time to buy again? :)

add more..kikikiki

strong fundamental yet valuation still attractive. low pe and high divident yield. Good stock to hold for long term.

KUALA LUMPUR: Malaysia’s furniture exports are expected to grow by 8% exceeding RM10 billion this year, a stronger pace compared with 4.1% to RM9.5 billion last year, thanks to the recent ban on rubberwood exports, according to Malaysian Furniture Council (MFC) president Chua Chun Chai.

The exports of RM10 billion are nearly two-thirds of the RM16 billion target of the Malaysian Timber Industry Board’s National Timber Industry Policy (Natip) 2009-2020.

“Given the rise in furniture exports from January to April 2017 at 6% or RM3.3 billion, exports are likely to expand with the US being the largest market,” he said.

In comparison with the corresponding four-month period last year, exports were at RM3.1 billion, said Chua, adding that the US contributed RM1 billion or 32.4% of the exports in the first four months in 2016, and the amount has grown to RM1.1 billion, accounting for 34.9% of Malaysia’s total furniture exports.

According to the statistics from the international trade and industry ministry, furniture exports charted a compound annual growth rate of about 3.5% between 2012 and 2016.

“The world economy is growing. World Bank growth forecast is at 4% to 5% after the 2008 downturn. The US has become the engine of growth [again], taking over China.

“At the same time, our traditional markets such as Australia, Japan, Singapore, the UK and Middle East can expand from 3% to 5%. We expect the emerging markets to grow about 20% year-on-year,” he said.

India grew at 24.2% with a value of RM123.8 million between January and April this year, a huge leap from 3.2% growth with RM99.6 million in value in the corresponding period last year, as it saw a boost in demand from the middle-income group that is expanding there now.

“Exports to the Philippines also jumped by 16.6% to RM58.2 million in the first four months this year from a 1.6% growth a year ago,” he said.



Labour shortage remains a concern

The rubberwood export ban was quite a big relief among furniture makers.

Earlier this year, the shortage in rubberwood pushed up the price of rubberwood by 45% to RM2,100 per tonne compared with RM1,450 a year ago, which was a major worry to the sector, Chua said.

On July 2, the government banned the export of rubberwood, which is expected to lift a cap on local furniture makers’ earnings growth.

“The government’s ban on rubberwood export was timely and effective to ensure the sustainability of raw materials for the furniture industry.

“The ban on rubberwood export would ensure sustainable supply to the furniture industry to achieve Natip’s RM16 billion target,” Chua said.

However, Chua said the growth in furniture exports could be strong at a double-digit rate if there is no labour shortage, among other challenges.

“If we are allowed to employ five foreign workers for one local employee (5:1), we can expand faster but the home ministry wants to stick to the 3:1 ratio,” he added.

Chua said prior to the export ban, China-based companies imported plenty of rubberwood, which was considerably cheap to them due to a weak ringgit, leaving Malaysian furniture makers with little supply.

“Malaysia wants to have a balanced policy by keeping the upstream players including the rubberwood sawn timber mills happy instead of helping the downstream value-added furniture industry.

“But Malaysia can export a quota of 100,000 cubic metres of rubberwood which would generate a total revenue of RM200 million to RM300 million. However, we hope the government would consider reducing the quota to 40,000 cubic metres,” he said.



Investing more in automation

Chua acknowledges that automating the furniture sector is slow as it involves high cost but Malaysian manufacturers are starting to raise their capital expenditure for technology investment.

Beginning last year, he said, MFC members have claimed they would spend about 5% of their profit to automate operations gradually.

“That would help grow the business and reduce labour but we still have to depend on foreign labour. If the government stops the intake of foreign labour, then the local furniture industry will go downhill. We don’t have a way to make furniture with only machines as some jobs need to be done by human beings like sanding and painting,” he said.

He explained most of the furniture is non-wood-based, therefore it would require a set to be put together physically.

“Wood is less than 30% of a piece of furniture; the other components are fabric, leather, the design, metal parts and lamination.

“Furniture is a lifestyle now, so elements of design and personality come from different materials, not just wood only,” Chua added.

Despite the challenging operating environment, Chua stressed that the furniture sector is not a sunset business as long as labour and raw materials are secured. However, the cost of doing business in Malaysia is rising, which could result in manufacturers moving to elsewhere for cheaper costs.

-The Edge Financial Daily, July 17, 2017

sold all..reach my own tp. good luck guys, will come back again when the price is within my MOS

Loss until your mom also cannot recognise u...scary :(

pls drop more :)

:)

pushhhhh :)

pump2

q at 0.005 :)

aiyoo...tak sempat collect...sad.

chartist picks. stock with strong momentum

eat ikan bilis only...kikiki

profit taking a bit...for today's lunch..kikiki

pump2!!

I-Berhad recorded a net profit of RM19.6m (+33.7% YoY, +5.6% QoQ) for 2QFY17, bringing cumulative 1HFY17 net profit to RM38.2m (+27.3% YoY). Making up 44.2% of our full-year estimates, we continue to deem the results in line as we see stronger earnings recognitions in subsequent quarters on the back of its RM334.7mn in unbilled sales. We like I-Berhad’s value proposition and attractive location in benefitting from the urbanization of the outer Klang Valley region (Klang and Shah Alam). We reckon I-Berhad is under appreciated owing to its predominant single-location focus, but which we believe very much unwarranted given its steadily growing earnings (Figure 1) and encouraging sales numbers. Our Outperform call is affirmed with an unchanged target price of RM0.91 based on a c. 50% discount to RNAV.

Earnings overview. In the absence of meaningful property investment and leisure-related contributions, property development continues to drive earnings growth in the interim. Divisional pretax profit of RM49.2m for 1HFY17 is 20.9% higher than the previous corresponding period’s RM40.7m, underpinned by steady construction progress of its on-going developments. The i-SOHO project was completed and handed over to purchasers in early 2Q 2017, allowing the Group to realize a portion of its unbilled sales, which in turn has ballooned its current cash-holdings to RM243.3m (c.18.5sen per share on fully-diluted basis).
Business overview. The i-Suite development will be handed over to purchasers by Q4 2017 while the Liberty, Parisien and Hyde Towers are on track for delivery in late-2018/early-2019. The four towers have achieved combined average sales of 86%. While unbilled sales have fallen to RM334.7m as at mid-2017 from RM447.9m in the previous quarter, this does not include the recently-launched Hill10 Residences (RM120m gross development value) which saw a healthy 70% take-up rate. Marketed as one of the most luxurious properties of its kind in Shah Alam, we are encouraged by the successful sales numbers as it marks a watershed moment for property development in the area given its benchmark pricing amid reportedly lackluster operating conditions, and strongly reinforces our belief in the eventual realization of the Group’s remaining c.RM7bn GDV.
Other developments. Structural works on the 1m sq-ft mall have reached about 70% completion and remains very much on track for a 2018 opening, providing a boost to property investment-related earnings. Works on the DoubleTree by Hilton hotel is also underway, with completion in 2019. Slated for launch this year-end or early next year, depending on certain regulatory approvals, are another 2 residential towers with estimated combined GDVs of RM520m
Source: PublicInvest Research - 18 Jul 2017

Go go Petron!

copper price up!

another day of foreign funds selling..

aiyoo...still got people like that arr... spread bad rumor without solid evidence... haiss

slow and steady...kikiki

strong fundamentals

Aiyooo..drop lerr..kikiki..sapuu

collect more..kikiki

tp: rm9.75 until next quarter...kikiki

sell some more pls..kikiki