haiz.. no wonder why loser is still loser today.. bcoz he does not want to admit he is loser and go on and learn new things... he thinks he is the best.. and stand at the same place... pity him...

all very lame fake and manipulated info.. i pity his IQ... and he really think investors' IQ is as low as him?

haha... how manipulated this info is:

1) Falling profit margins to currently only 2.39%
- this is due to one-off things that i said before
2) Swelled up debts (RM 209.861 millions) highest among all competitors
- nonsense, why purposely ignore the cash? what is the net gearing ratio? if dunno dun simply say
3) Its key export market Middle East (>40% of annual revenues) is in crisis
- nonsense again, Middle east in crisis? go over there and see... Middle east condition has been there for years...
4) Now the latest effective ban of rubberwood from Malaysia will pose a threat of production to its overseas plants in Thailand and Indonesia
- stupid comment again.. i told him many times... indonesia and thailand has much more rubberwoord supply than Malaysia (check the global data).. they need to import from Malaysia?

i also noted the change of "prospect".... the old saying has been there so many years... good to see the growth going forward...

haha... hor seh liao...

well said Chong Jiunn Hau... you made a lot of sense too... idixt with such lousy analysis, I over-estimated him.... he must be a very broke fellow with such silly analysis...

~~~~~~~~~~~~

Chong Jiunn Hau Dolly, sont sai hei with the childish loser. I disagreed with you regarding his intention to sabotage. I think he sabotage not because of he wants to get cheap price, but to seek for attention and get ppl to acknowledge him to boost up his very low self esteem. I dont think he has much capital to invest, even he has, with the lousy analysis and business sense, he could have already lost most of it in the stock market.
I dont think anyone can bring down the share price just by talking in i3 forum since he has no proven record like KYY or coldeye. Just ignore him so that he wont get what he wants. U and me know that the this share will goes back to above RM1.00 in 3-6 months time n he will soon disappear like in serba n hengyuan forum.
I pity him actually, he missed the boat for both serba n hengyuan, and history repeats itself for him in Evergreen.
Imagine what is a person's feeling when he saw a bag of money on the floor and keep warning other ppl is fake money until he saw other ppl took it and go happy shopping with it.

Don't argue with an idiot, he will drags yoy down to his level and beats you by experience.

We just share our view, take it or leave it, earn our money, and move on.

why CKCS disappeared from Serbadk and Hengyuan forums?
haha..
after failing to sabotage and bring down the share price of these 2 shares.. he straight away clamped his tail between 2 legs and ran away....

shameless CKCS is not only idixtic... also very childish.. haha

some idixt does not know how idixtic he is but still acts like an expert... he only looks at an overall number without dissecting/ interpreting why the profit dropped...

for evergreen, the profit was impacted by one-off things but he keeps making hoo-haa shamelessly.. whereas all of us (those who do enough homework) already kind of expected the results will not be great due to their foreseen one-off thing (flood, disrupted supply -> caused higher log price, scheduled shut down, etc)...

See how biased he is.. and how he spent so much time to sabotage shares (trying to collect cheap?? I guess so... else why waste so much time here if he earns nothing?) he never mentioned about the positive sides of Evergreen

Example: Evergreen particleboard operation has come alive in Q2 2017 (now starting up so the results not significant yet.. expect significant contribution in 2018).. same thing for new RTA line... going to contribute significantly in 2018...

why he skipped all this info ar??????
why ar??????????/

haha.. very obvious.... gunner to bring down price and then collect...

haha... Skliew, i like ur sarcasm... some idixt does not know how idixtic he is but still acts like an expert... he only looks at an overall number without dissecting/ interpreting why the profit dropped...

same in Evergreen forum, the profit was impacted by one-off things but he keeps making hoo-haa shamelessly.. whereas all of us (those who do enough homework) already kind of expected the results will not be great due to their foreseen one-off thing (flood, disrupted supply -> caused higher log price, scheduled shut down, etc)...

See how biased he is.. and how he spent so much time to sabotage shares (trying to collect cheap?? I guess so... else why waste so much time here if he earns nothing?) he never mentioned about the positive sides of Evergreen or Prlexus...

Example: Evergreen particleboard operation has come alive in Q2 2017 (now starting up so the results not significant yet.. expect significant contribution in 2018).. same thing for new RTA line... going to contriibute significantly in 2018...

why he skipped all this info ar??????
why ar??????????/

haha.. very obvious.... gunner to bring down price and then collect...

stupid idixt keeps talking about the margin as we all know that it was impacted by "one-off" things...
u know what is "one-off"? stop manipulating info here again...

CKCS must be very frustrated now as the price does not drop but go up.... haha...

why today's price didn't drop? I didn't buy enough yesterday as I expected today to drop more... sigh... please drop more ya...

haha... childish manipulator CKCS came out from the cave again!!!

Hi KC.

Can you share with us your calculation of intrinsic value for Zhulian & OKA?

Thanks.

Skliew.. i suspect the 7,500 shares that were transacted at RM1.21 was also done/manipulated by these fund managers... trying to pull down and lure ppl to sell down to them, all the way to RM1.20... haha

he wanted to spread fake rumour to sabotage a share and then wanted to collect when it is cheap...

but there are still many value investors who know how to digest the report and know what are the one-off things that caused the profit to drop...

where is the manipulator CKCS today?
When Evergreen's price went down, he came out of the cage and shout...
when the price goes up, he hides into the cave again...

sometimes i really pity "gunner/manipulator" like him...

well done Yong Ji.. i did add more yesterday too around 0.77....

value investors look at the core/operating fundamentals and ignore the one-off things...

so the core/operating fundamental remains intact but it was driven down by one-off thing (that are not related to operating fundamentals) like forex loss, increase of rubberwood log and glue price (due to shortage) and scheduled shut down..

as the government now bans the export of rubberwood log to overseas, this situation will enable more supply in Malaysia and drive down costs...

this is a very good analysis:

http://klse.i3investor.com/blogs/kianweiaritcles/130519.jsp

the key point to note:
以Pure Operating Profit来看，Q2以及Q1其实相差不远。

No point to talk more nonsense with loser like CKCS... others here can see his own agenda/motive/intention... that's all i wanted to say... done...

U all now see how manipulator/ sabotager plays his trick?

spread rumour again...

let me ask this loser CKCS... u know Henry S Kuo? u live in the USA with him together?
dun simply spread rumour that you dont know... shame on you!!!!!!!!


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
CKCS The Kuo family controlled this company and this organization has become more and more less competitive due to the third generation Henry S Kuo is living his life in USA and no hands on managing the company. Recently he was kicked out of the audit committee. Just dig out his FB pages and he recently changed and removed many of his postings but luckily I saved them up for future records.

Nikicheong is finally right on one thing : I agree with this one...
That is why I am now collecting it...

~~~~~~~~~~~~~~~
nikicheong @lloydlim, that's a faulty logic. You should be buying cyclicals when the P/E ratio is high and selling them when the P/E ratio is low.

Hi Snoopy仔:
Let me ask you:
1) How do you prepare for shortage due to flood? You conduct a ceremony and ask the GOD before flood?
2) As mentioned, Hari Raya shut down is "scheduled", why you said it is not planned or arranged properly? Same to maintenance, that is "scheduled". Machines all need maintenance.

3) I dont know who else promoted Evergreen on blog or FB live.. but let me ask u: ColdEye (Fong Siling) asked investors a question: can you hold a good and undervalued share for 3 years until it finally realizes its value? So you are saying ColdEye is stupid? Your way of "investing" sounds more like speculating to me... nothing wrong with speculation if you bet it right... that is your choice... I am fine to hold on to 1-2 years for >200 to 300% return..

~~~~~~~~~~~~~~~~~


Snoopy仔 Agreed with Nikicheong, as view from management side, if you are the management, you should arrange it carefully during shortage of materials, hari raya session & extended plant shutdowns for scheduled maintenance.

They have to look for other solutions to maintain revenue and planning ahead to overcome it. It seem like management not aggressive to their company.

On the blogger + FB live to give the explanation, it seem to its side to evergreen than provide natural advise (maybe he is buying a lot, who knows). It is dangerous when listen to someone to buy a stock and wait 1-2 years.

Downtrend stock should be avoid. If you wait another 1-2 years, for me better look for other potential stock and keep.

Good Luck to Evergreen shareholders.

well said Yong Ji:

Yong Ji Yong Ji Ken Lim 别那么悲观，居然看好公司前景，就分批买进量力而为，做生意有起有落，居然看好这公司有机会赚更多的钱就把它看成生意慢慢累积股份，千万不要和它赌业绩（必死无疑）我进价在880持了大概5个月左右，这中间来回买进了2轮在0.815 价位，昨天业绩曝光觉得有点小失望但是以长远来看还是可以再继续守着加上今天我再一次买进一些价位在0.765……加上0.02 的dividend 其实没什么好担心，买股把它看成一门生意就对了！纯粹分享一些小经验希望能帮到你:)

I salute popo92 for his view on the inventory... good observation!!!


popo92 Inventories are equivalent to one quarter revenue, not too much problems if you ask me. Furthermore, increasing inventories most likely included recent particleboard lines (completed in q2), but these particleboards are not sold yet. New particleboard line will contribute probably q3 if not q4. Everyone will have different views, my perception with low production volume is correlated with economic scale which can affect their cost and margin.

why doesnt he spend more time on other shares that he think are good and can make him money?

will he earn a cent if he keeps sabotaging evergreen (with manipulated info)?

Yes, only if he is aiming to shoot down the price then collect cheap.... that is too obvious

CKCS keeps saying there are "salesman" who proposed this share becoz they are stuck....

then let me ask a question:
why is he even here if he is not interested in buying evergreen (now sabotaging the price so that later he can collect cheap... he is really very "cheap")...

why he wasted so much time here if he earns nothing?

he has nothing better to do?

U guys think about this... what is his personal agenda? what is his motive?

haha.. this loser talks like an expert... but from the way he talked, he is worse than a newbie:


CKCS My best advice to newbies or those who dun understand Evergreen.....dun listen to those salesman promoters trying to sell u DogShit shares like Evergreen because they themselves are purely stuck and nothing more. Just look at all the recent results since last year which I've warned.
22/08/2017 07:50

nikicheong seems have not really understood what I wanted to say about inventories...

buy when others are fearful (of course, cannot simply buy.. u must do enough homework).. that is the best time / price to buy

cjcj... do u think by 2018 (at the time when you want to collect), the price will still be undervalued like now?
ppl are not stupid... by that time, the price should have gone up much

nikicheong, again, u r trying to act smart which to me is very silly.
You are not comparing between apple and apple.

Hevea's inventory are mostly RTA and particleboard that can be sold to market quick enough (quick turn time) so inventory is lower.

You dun simply derive a conclusion that Evergreen management is cheating. If yes, why dont you lodge a report to SC and ask them to investigate?

Based on my experience with the management, they have been very honest and never over-commit... (i did talk to them since 2012)... when time was bad, they said it was bad... in 2013, they even told me they would incur loss. So i dont think they are dishonest ppl..

imagine, RTA is those you can buy from Tesco, Giant... those can be delivered to these hypermarkets quickly and inventory sure will be lower. this is more like retail or semi-wholesales that can be shipped in smaller junk. So it can ship out faster

while MDF is mainly shipped in bulk volume in contenna and exported in wholesales... u need to arrange for large shipment...

you dont get to buy small quantity of MDF in any tesco or Giant...

that is why Evergreen now ventures into better turnaround time, better margin products like RTA and particleboard now.. like Hevea... they are transforming...

and the result will be seen (not very significant) by end 2017... but significant improvement by end of 2018...

question: can u wait till end of 2018? if yes , you are a true value investor.

haha.. loser + joker CKCS comes out to shout again when everyone already expected the results will not be good for Q2... it had been stated even in Q1 report that although the flood subsided, the log supply will improve gradually.

Just common sense for you all to think:
When Q1 report was out (end of May), it said flood has subsided. But Q2 includes April May & June. So April and May sure will be impacted as well.

Having said that, you will only see improvement in Q3.

We all expected Q2 to be not good already. CKCS is making what noise here?
I am glad that if it drops more, i will collect more.. i aim for 2018.

I suggest more shareholders to email them so that they know we are not satisfied with their reporting format/lack of info.

RainT & R40s, I have emailed their management to request them to provide more clarity/explanation in their quarterly report. So far their reports are not informative enough... let's see if they will improve on this one.

dolly's old stock (and still holding): OCNCASH.... lol

well said Chong Jiunn Hau & onlyinvestment.

I agree that forex is a not a core issue. In a few years back, when USD was trading around 1USD/RM3.3, evergreen was still making good money (except for 2013 that the above article had explained why it lost money). It is more on how they control cost and improve margin.

As a value investor, we should actually take out the effect of forex (regardless of forex gain or loss) and focus on the core operating business itself

Evergreen is one of the most profitable MDF producer in this region (if you do enough homework, u will know).. this is partly due to the economies of scale / their high production volumes that can lower the overall cost... besides that, the management is good at controlling cost with internal rationalization plan....

that is why I said u guys better do more research....

James, how do you define low profitability? Which company / industry are you benchmarking against?

If you are benchmarking against a direct sales company like Zhulian, then yes, it has lower profit margin compared to this industry.
But if you are benchmarking against industry like newspaper, etc, then Evergreen has much higher margin..

you should compare a MDF company (currently still major in MDF) profit margin with Evergreen... go check out thailand biggest MDF player (Vanachai Group) (actually Vanachai is still smaller than Evergreen, Evergreen is the largest in ASEAN).. u will know Evergreen profit margin is much better than Vanachai...

compare apple with apple, not apple with orange...

dun forget the RTA & particleboard business that will raise the overall margin later.

财务状况

长青目前的净负债只有7019万令吉，处舒服范畴，若未来资本开销真能如董事部预计般正常化至5000万令吉，那么在强大营运现金流影响下，长青应会在1年里成为净现金公司。

I have said this many times about how Evergreen can turn into net cash company soon after the much lower capex... but this is what the analyst said (again):

guys... read this:

其中，重启和提升PB产线，会为长青带来25万立方米的PB产能，这是崭新也是短期业绩的最大催化剂；前述产能，相当于目前专攻PB市场的亿维雅刨花板（Hevea）总产能的48%。

so you know why CKCS (who currently owns HEVEA) is so afraid of the rise of Evergreen and the motive/agenda behind him of creating fake rumour/manipulated info to sabotage Evergreen...

Let me translate in brief:
In terms of production capacity of the new particleboard line (around 250,000 meter cube), it is about 48% of total capacity of Hevea (Hevea is mainly on particleboard sales).

that is why Evergreen is in the right direction now... expanding into higher margin particleboard and RTA business... one very good point up there:

其中，长青纤维板要在PB市场取得成功相信毫无悬念，这是该公司庞大销售网和领导地位带来的立即优势

With its existing huge customer network (>40 countries, >600 customers), they have available sources to sell these particleboard and RTA to... they already have established supply chain management, sales and marketing in this field... so they are just tapping onto it... they do not need to start from scratch like those start-up companies... so they need much less time to get into this business (do not have to explore blindly which market/customers they should target, which one to approach, etc)... they are already familiar with.

鉴于价格因素，市面上如今反而是PB供不应求，除中国PB短缺，大马市场也得靠进口填补对PB的需求，使PB享有高于MDF的赚幅。

为了提升赚幅，长青纤维板两年前启动了一项大型投资计划，斥资2亿9000万令吉调整业务运作，相关投资活动包括集中生产线，优化产线效率，重启并提升PB产能，增加自组家具产能等，以强化中长期竞争力和赚幅。

透过壮大PB和RTA业务，长青纤维板不但能攫取额外市占率，也能进一步巩固该公司在纤维板市场的龙头地位。其中，长青纤维板要在PB市场取得成功相信毫无悬念，这是该公司庞大销售网和领导地位带来的立即优势，赚幅更高的RTA则是另一出路，不但能推高整体赚幅，还能助该公司进一步开拓欧美市场，是中长期业绩的推进器。

this is a very fair and good article.. it also explains the difference between MDF and particleboard (that Evergreen is producing both MDF and particleboard)... and the different application between MDF and particleboard for furniture...

http://klse.i3investor.com/blogs/novelcapital/129810.jsp

until today he is still shouting: high/massive debt whereas the net gearing ratio (after deducting the cash) is only around 4%.... wow... he calls this as "massive debt"...

and we all know that for mid to long term, Evergreen's business is going to improve, from gradually to substantially (as we did our homework and know what the company is doing, planning, etc)....

let this loser bark... while we happily collect when the price is still undervalued...
cheers... the one who laughs last, laughs best....

haha... guys... dun waste ur time to encourage this idixt CKCS to eat medicine.... he is too sick until no medicine can cure him...