??? idixt does not even know what he is asking... pls ask some valid questiosn... do u know the nature of Pansar business? it is split into 5 major segments:
1) Marine and industrial
2) Building products
3) Wood engineering and supplies
4) Electrical & office automations
5) Mechanical and electrical

and this is stated in their "prospect":

Certain large projects implemented post 2016 Sarawak election
like the Pan-Borneo highway and other large projects will have a positive impact on our operating divisions especially building
products, M&E and industrial engineering

see the linkage? dxmbaxx

wtf, i have responded to each of your stupid and false/manipulated so-called statements/facts... in fact, you have returned a single response to my anwers.. ppl here are not blind.. they can see how i answered your farked up and stupid questions.. whereas u havent even done so for my clarification..


loser remains loser... keeps falsifying things and accusing ppl without using brain....

idiot remains idiot... loser remains loser... no-ball sissy remains no-ball sissy... false accusation remains false accusation...

loser, let's see if Evergreen Q4 result is better or worse.. it will farking shut your bloxdy mouth up...

loser, if u farking chicken out on your false accusation, pls get the fark off or else God will punish u for making false accusation on me...
if you have balls, just take up my challenge.. else, get the fark off...

wtf is this loser talking about?
I have dared him to swear that I modified my average price on Evergreen but he has no cxck to take up the challenge...

now still wanna accuse me of being stuck? wtf, he is really a loser cum joker while i am having great paper profit now...

actually Melati Ehsan secured quite a number of contracts but the problem is they did not announce these on Bursa so investors were not aware... perhaps the boss should go a bit high profile instead of being too low profile....

The development plans for the remaining parcels of land
in Taman Ehsan Jaya, Pandamaran, Klang are currently
subject to further refinement to suit market demands and
needs. The balance of the yet-to-be developed land bank
shall help to sustain the Group’s medium to long-term
activity and profitability.

The Group also secured a piling contract for construction
and completion of 2 blocks of 25 and 35 storey
condominiums with an 8 storey car park podium (Residensi
Bayu Andaman) in Bandar Sentul Utama, Sentul, Kuala
Lumpur. The project consists of 400 units of condominium
and 200 units of Perumahan Penjawat Awam 1Malaysia
(PPA1M). PPA1M is an affordable housing scheme for
government employees which emphasises on comfort in
aspects of size, design, quality and location. Melati Ehsan is
on target to procure the contract for the building and other
associated works in 2017.

The Group also secured a contract for construction and
completion of the proposed development of a 22-storey
block of 240 unit apartments encompassing 1 storey of
common facilities, a 6-storey car park podium and other
facilities such as guard house, multipurpose hall, Surau,
children’s playground, gymnasium and Tadika. This project
is for Tenaga Nasional Berhad’s workers’ quarters (“TNB
Quarters”) situated on TNB’s land at Kelana Jaya, Petaling
Jaya, Selangor Darul Ehsan. The TNB Quarters is targeted
to achieve the Green Building Index (GBI) Certification with
Certified rating which complies with industrial standards of
Energy Efficiency, Indoor Environment Quality, Sustainable
Site Planning & Management, Materials & Resources,
Water Efficiency and Innovation. The Group will ensure
the compliance with these GBI requirements, submittals,
products and the execution of the works shall accordingly
be in line with the Group’s commitment to support and
contribute to the national policy of sustainable development
for a greener world.
The construction contract known as “the Central Spine
Road, Pakej 3: Gua Musang, Kelantan Ke Kg. Relong,
Pahang (Seksyen 3H Skop Tambahan: Kg. Kechur to Kg.
Seberang Jelai)” in the East Coast Economic Region
(ECER) was completed during the year with the issuance of
the Certificate of Practical Completion on 7 October 2016.
Based on the Group’s exemplary project delivery, Jabatan
Kerja Raya had, on 29 August 2016, awarded another road
works contract at ECER, Seksyen 3E1 : Mentara to Merapoh
at the construction value of RM99 million. The construction
period for this contract is 36 months. The scope of works
include earthwork, drainage, road pavement, geotechnical,
slope protection and bridge construction.

yeah... i saw that in their latest annual report:

Business Overview
Bayu Melati Sdn Bhd, a wholly-owned subsidiary of the
Group, had on 15 April 2016 entered into a conditional
sale and purchase agreement (“SPA”) with Aturan Utama
Sdn Bhd for the acquisition of 3 parcels of leasehold
land held under H.S.(D) 54886, 54887 and 54888 for
PT No. 4505, 4506 and 4507, Mukim Bandar Selayang,
District Gombak, Selangor Darul Ehsan (“Lands”) for
an aggregate cash consideration of RM77,735,849
(“Proposed Acquisition”). The Lands are situated within
Bandar Baru Selayang, Selangor and the purchase is in
line with the Group’s intention to build up its land bank
in strategic locations with high development value. The
Proposed Acquisition demonstrates the Board’s initiative
in pursuing growth and sustainability in its business. The
Board believes the Proposed Acquisition will expand the
Group’s development activities in the future and the Lands
are expected to enhance the future earning potential of
the Group.

希望不是等待春袋 :P

high NTA which means attractive P/BV too...

after all, Melati is a rare construction company who has almost no debt (just a marginal 1.8M total non-current + current borrowings), as compared to other construction companies who have tonnes of debts...

bro er may have his points... read this from the latest quarterly report which justifies why the revenue and profit was lower...

Construction
The group recorded revenue of RM14.189 million and profit before tax of RM0.408 million as compared to the preceding year corresponding period of RM17.224 million and RM1.459 million respectively. The lower revenue of this operation was due mainly to the new road work in East Coast Economic Region (“ECER”) project at an initial stage. The revenue recorded in the current quarter was mainly attributed from the “Program Perumahan Rakyat” (“PPR”) Project.

And prospect looks promising for the next few quarters...

Commentary on prospects
The on-going construction works such as ECER and PPR, will continue to contribute positively to the Group’s revenue and profitability despite moderation economic outlook due to low crude oil prices and weaker Ringgit.
The Federal Budget 2017 presented on 21 October 2016 has introduced various measures and focused on the strengthening of our economic and financial fundamental to better global uncertainties. The proactive spending and pump priming of the economy are capable of driving domestic demand thereby supporting economic growth. The Government quoted 2017 as “Delivery Year”. Therefore, it is foreseeable that business and construction activities to be increased and benefited the Group in line with this direction.
Based upon this, the outlook of the local construction sector is good and will benefit the industry players. Ongoing projects and those scheduled to commence in the near term such as road works and affordable housing schemes will ensure the sector continues to grow in the next few years.
The Board of Directors is optimistic about the Group’s ability to continue to achieve satisfactory performance for the financial year ending 31 August 2017.

Berry, i believe Tony had learned his lesson in the past and now come back with his strategic planning... i would not believe TOny is dumb enough to repeat his mistake.. lets see.. i see this as a positive move for AAX

stupxd axs will only look at short term performance on share price.. we have a bigger picture to project into 9-month to one year time... where evergreen will likely see much improved revenue and net profit (in terms of growth) in comparison with Hevea...

that is what we wanted to debate about...

and sxckperformer is indeed a shallow and naive fellow....

see... this loser cum idixt has not responded to any one of the statements i raised above... typical loser

1) Debt of Evergreen (which is manageable and reasonable for the industry it is involved in) - he keeps saying that Hevea has zero debt but Evergreen has debt.. I have told him that Hevea is more like a furniture company as its 60% sales are from RTA (ready to assemble furniture) which are less capex intensive. Where as currently Evergreen manufactures 80% of raw MDF so it is more capex intensive in terms of the machineries and maintenance. They are not in the exact industries so you just can't compare directly.. he has not even answered my question on this one.. Yes, evergreen will target to build more RTA (current 5% of total revenue), but their main focus is still MDF at current stage. So, until one day when Evergreen has its RTA sales reach 50-60% of total revenue, then only it is fair to directly compare with Hevea on the debt/net cash...

2) Debt of Evergreen - again, let's discuss if the debt is bad or actually good for evergreen. We know that many business raise loans to expand. We have to examine whether their profit margin is higher than the interest they need to pay for the loan. Last year (2015 full year), evergreen net profit margin is 9.1%. This year (up to 9 months), due to forex loss, the net profit margin dropped to 7.3%. But this is still higher than the bank interest rate that they are paying for... example, if you earn RM10 additional but you pay RM5 for interest, u still get additional (net RM5) for the expansion... so why not to expand if you have net profit from there?

3) Dividend - he is again very biased and misleading here.. 2013-14 were bad years for Evergreen, we all know and admit that. This was due to the intense competition of MDF makers within ASEAN (as 2006-08 were good years and many new MDF makers ventured into this business can caused over-supply) However, as mentioned by Evergreen management, many small and incompetitive MDF players have been washed out (go bankrupt) during the bad years of 2012-2014 due to losses.. but evergreen as the biggest MDF player in ASEAN with strong footing and experience has weathered thru the storm and grow bigger now.. in fact, they ate up the market shares of those closed-shop small factories,.. so from 2013-14, we cannot expect evergreen to pay dividends during tough years.. why I said he is biased? When Hevea was in deep financial woes during 2009-2010, why did sxckperformer not question: why Hevea did not pay out dividend during tat time? see? he is manipulating his words...

4) Dividend - in latest AGM, Evergreen management has approved to give out at least 40% of net profit to shareholders... so, with the expansion plan almost done (will require less capex, and have more cash)... we can expect more dividend to come.. we invest in the future of Evergreem.. but this joker keeps talking about the past.. and he totally kept quiet about Hevea's past on the bad years.. and when raider said Hevea almost went bankrupt.. what did this sxckperformer say? Trump went bankrupt 3 times but now is a US president.. haha.. funny right? we know it is not end of day for bankruptcy, but we dislike his biased view on evergreen.. Hevea's past was bad, but it is ok.. Evergreen's past was bad, but it is not OK.. see it?

sxckperformer is a typical loser, yet accused others to be losers.. haha...

he has not responded to any of my explanation (on his biased statements) yet, not even one of my many statements...

stupxd asx always talk cxck....

I had mentioned in the past the Evergreen's net profit margin is even higher than the cost of paying loan interest... and in this case, it is WORTH to borrow money to make more profit...

see... again, he is caught red-handed to being biased... and he dares not even answer to any of my explanation... never mind, i will repost below...

i am okay with constructive debates, if the statements were backed by facts, but not manipulated half-facts...

from day 1 we can see that this sxckperformer has been tweaking and manipulating his words to give others a wrong impression on Evergreen.. most of his accusations are baseless, biased and dishonest...

yes, he did provide some real figures especially on the debt of evergreen, but he covered up other facts which i then revealed such as the healthy net debt/equity ratio, good free cash flow yield, growth prospect etc...

he hid all these positives and magnified the debt of evergreen which i think is very unethical...

perhaps i am a bit vulgar in my words so i have to apologize to others who read it and felt uncomfortable...

but i indeed despise ppl like him who manipulated statements just for his own agendas... (God knows what his agenda is)...

raider... good accumulation there.. honestly speaking, evergreen has constituted a rather big portion of my overall portfolio so i am not adding more... i believe you did the right thing.. we will laugh all the way to the bank in one year time, i am pretty sure...

loser is always loser.. wise investors here can see who have real, unbiased factual points and who manipulated his statements... very clear cut and obvious...

haha... raider, u see how idiotic this sxckperformer is... he has no valid points to nullify my statements so he simply said that my post is empty and without any content... much fact was shared in my post yet he pretended to be blind,... how pathetic he is...

but for the magic formula of EY and ROIC, Prlexus wins by a huge mile:

Prlexus:
ROIC = 30.07%
EY = 21.47%

Hexza:
ROIC: 17.9%
EY = 19.6%

Super_SKL, i agree than in terms of DY, Hexza is better... but be careful with its TTM PE.. it has included the one-time-off asset sales that boosted up the EPS...

so, to more accurately reflect the correct PE, lets assume this year recurring net profit is similar to last year's which is EPS = 8sen... the PE is already around 12... whereas Prolexus has a lower TTM PE at 9.36...

yes, in terms of P/BV, Hexza is better...

rocky doesnt talk rock, he talks cock...

from earning power wise, Pansar has been profitable for many years... from dividend wise, the dividend yield is as high as 5%... much better than FD... what else can u ask for?

haha... stick cock talking without a single fact... come on la.. we were discussing above on facts, not cock...

anyway, i do agree that Homeriz is a great company, just that i think it is fairly priced in now... if it does not go down more to allow some margin of safety, i would not buy it...

Gabriel and Js Goh, i have to admit that you have your points too... but for me, best if the P/BV is not too high as in case (no one knows) the company goes into financial crisis and has to liquidate its business... net tangible asset is very important as it determines how much the investors can get back....

see... this loser cum idixt has not responded to any one of the statements i raised above... typical loser

1) Debt of Evergreen (which is manageable and reasonable for the industry it is involved in) - he keeps saying that Hevea has zero debt but Evergreen has debt.. I have told him that Hevea is more like a furniture company as its 60% sales are from RTA (ready to assemble furniture) which are less capex intensive. Where as currently Evergreen manufactures 80% of raw MDF so it is more capex intensive in terms of the machineries and maintenance. They are not in the exact industries so you just can't compare directly.. he has not even answered my question on this one.. Yes, evergreen will target to build more RTA (current 5% of total revenue), but their main focus is still MDF at current stage. So, until one day when Evergreen has its RTA sales reach 50-60% of total revenue, then only it is fair to directly compare with Hevea on the debt/net cash...

2) Debt of Evergreen - again, let's discuss if the debt is bad or actually good for evergreen. We know that many business raise loans to expand. We have to examine whether their profit margin is higher than the interest they need to pay for the loan. Last year (2015 full year), evergreen net profit margin is 9.1%. This year (up to 9 months), due to forex loss, the net profit margin dropped to 7.3%. But this is still higher than the bank interest rate that they are paying for... example, if you earn RM10 additional but you pay RM5 for interest, u still get additional (net RM5) for the expansion... so why not to expand if you have net profit from there?

3) Dividend - he is again very biased and misleading here.. 2013-14 were bad years for Evergreen, we all know and admit that. This was due to the intense competition of MDF makers within ASEAN (as 2006-08 were good years and many new MDF makers ventured into this business can caused over-supply) However, as mentioned by Evergreen management, many small and incompetitive MDF players have been washed out (go bankrupt) during the bad years of 2012-2014 due to losses.. but evergreen as the biggest MDF player in ASEAN with strong footing and experience has weathered thru the storm and grow bigger now.. in fact, they ate up the market shares of those closed-shop small factories,.. so from 2013-14, we cannot expect evergreen to pay dividends during tough years.. why I said he is biased? When Hevea was in deep financial woes during 2009-2010, why did sxckperformer not question: why Hevea did not pay out dividend during tat time? see? he is manipulating his words...

4) Dividend - in latest AGM, Evergreen management has approved to give out at least 40% of net profit to shareholders... so, with the expansion plan almost done (will require less capex, and have more cash)... we can expect more dividend to come.. we invest in the future of Evergreem.. but this joker keeps talking about the past.. and he totally kept quiet about Hevea's past on the bad years.. and when raider said Hevea almost went bankrupt.. what did this sxckperformer say? Trump went bankrupt 3 times but now is a US president.. haha.. funny right? we know it is not end of day for bankruptcy, but we dislike his biased view on evergreen.. Hevea's past was bad, but it is ok.. Evergreen's past was bad, but it is not OK.. see it?

sxckperformer is a typical loser, yet accused others to be losers.. haha...

he has not responded to any of my explanation (on his biased statements) yet, not even one of my many statements...

stupxd asx always talk cxck....

I had mentioned in the past the Evergreen's net profit margin is even higher than the cost of paying loan interest... and in this case, it is WORTH to borrow money to make more profit...

see... again, he is caught red-handed to being biased... and he dares not even answer to any of my explanation... never mind, i will repost below...

airasia is always the target for foreign funds to manipulate its share price... pressed it down to collect and then push it up again and dump... so if you fall into their trap by selling... they are laughing all the way to the bank...

so hold now and dun ever sell!!!

agree with stockman this time... airasia is always the target for foreign funds to manipulate its share price... pressed it down to collect and then push it up again and dump... so if you fall into their trap by selling... they are laughing all the way to the bank...

so hold now and dun ever sell!!!

haha... chompks, i am okay with constructive debates, if the statements were backed by facts, but not manipulated half-facts...

from day 1 we can see that this sxckperformer has been tweaking and manipulating his words to give others a wrong impression on Evergreen.. most of his accusations are baseless, biased and dishonest...

yes, he did provide some real figures especially on the debt of evergreen, but he covered up other facts which i then revealed such as the healthy net debt/equity ratio, good free cash flow yield, growth prospect etc...

he hid all these positives and magnified the debt of evergreen which i think is very unethical...

perhaps i am a bit vulgar in my words so i have to apologize to others who read it and felt uncomfortable...

but i indeed despise ppl like him who manipulated statements just for his own agendas... (God knows what his agenda is)...

Invest_168, you are right... after the acquisition of DOSB & final 25% of Polyplas, we can see that the net profit is growing tremendously...

sxckperformer is talking cxck again... keep comparing evergreen with company like hevea and pohuat which are furniture companies... i have explained why we can't compare that way but he pretend he is blind and could not see it...

this useless sxckperformer is repeating all the same nonsense which i had explained in detail...
really hopeless idixt...

Evergreen5101, all you mentioned is correct... we are looking at Evergreen's future...

haha... see, i had asked you guys to buy earlier... for those who listened to me, they are now laughing all the way to the bank d... haha...

another concern i am seeing with Homeriz on why it is fairly price in now is the P/BV = 1.02/0.39 = 2.62! (much greater than 1.5)

even though EBIT/EV shows it is still not too expensive for now... but P/BV is killing me..

another concern i am seeing with Homeriz on why it is fairly price in now is the P/BV = 1.02/0.39 = 2.62! (much greater than 1.5)

SKL, yes, i can easily tell one: Prlexus...

go check its fundamentals :EBIT/EV, CY, ROIC, ROE, P/BV, PE, etc...

mr00183, you are right, i agree 100% with what you say... that is why we need to investigate if the growth is positive or negative...

Evergreen has stated that their are investing in advanced MDF & particleboard machines that are able to churn out thinner, premium grade boards that serve niche market, which commands higher profit margin...

they are also expanding their VA (value add) MDF such as veneer and laminated MDF, etc to command better margin...

they are also building more RTA lines which will command better margin...

they also did some internal restructure to cut cost and improve efficiency...

after all, all this points to positive side of the growth so i am very optimistic of its future

i wish to be a civil forumer, unfortunate this idixt sxckperformer started all this nonsense and i have to fight back...

Hi Evergreen5101, thanks for your kind advice...
maybe you right, there angrier I get, the happier this idixt is...
So i will totally ignore him for now...

Until today, I have explained and pointed out (with facts) that all his accusations/manipulated statements on Evergreen are false. And he has not responded yet on my explanation. It is obvious that he knew I am right with my explanation and he just has no face to take it.

Secondly, he has not even answered my simple question whether it is fair to compare Evergreen's debt with other furniture companies who require much less CAPEX in business nature... why furniture companies require less CAPEX? Ricky Yeo had explained that in his post and I am not going to repeat (the link can be found above)... here, again, this sissy coward continues to pretend he did not see my question... no answer until today...

Lastly, he accused me of modifying my average price. And I was so furious that I challenge him to swear... again, no-balls sissy like him continues to hide his balls and run away from answering it...

All this has proven that he is such a coward who is not responsible for what he said.
Worse is he always wants to win despite that fact that he knew he was wrong...

So i start to pity him a bunch now.....

if these concerns are cleared, i may consider buying Hexza... so someone pls help....

guys, i hope someone can help enlighten me with some insights on my doubts:

1) Hexza will suffer from weak MYR, as most of its raw material costs are denominated in USD, while most of its revenue is denominated in MYR. A net importer will suffer from weak MYR.
2) Many are very optimistic of the buy and lease back of the 8MW power generation system with Tembusu.. however, please take out your calculator to count : how many % is this revenue compared to their overall revenue? I assume USD/MYR at 4.20 (for full year), it is USD130205x12x4.2=RM6.5623million annual Revenue.. 2016 annual revenue is RM142million... that is only 4.6% of the total revenue... anything to be so excited about?
3) related to item 2, i dun understand why some ppl just use this power generation system "revenue" divided by total share to count how many additional EPS.. remember, this is REVENUE, not net profit... no need operating cost? no depreciation, etc?
4) the company has been very conservative in the past 10-15 years with almost no growth.. yes, in the latest annual report, the chairman said they will be more aggressive with growth but we do not know yet how they are going to achieve that
5) last one - resin business is very competitive... many MDF, particleboard, plywood manufacturers are already making their own resin to save cost, and some of them even sell excessive resin to open market... according to report by The Edge, resin business comprises about 61% of their overall sales.. which is a lot.. and they recently sold of a loss-making resin subsidiary.. that can imply something - resin business is really not good... ok, ethanol business is good.. but it has been dragged down by resin (with higher revenue portion)...