miketyu,,please refer to my earlier postings. The report did point out the positive contributions of the strengthening US$ towards the revenue and profit in the 4thQ fye2013. The report however did not report the quantum. Bye.

KCChongnz have done a good job of trying to value the share of the company using financial tools and the latest available financial statistics of the company. Basically based on his calculations,,Homeritz is worth 68 sen per share (using fye 2013 financial results) based on the
conservative assumption of no growth for the rest of the company's economic life.

For what it is worth, I think the company is in the initial stage of expansion/recovery stage in her
business cycle based on the pickup in the western economies. Being focused in business (upholstery) with a very clean balance sheet, it is easier to form an opinion if the above assumption of expansion holds true. If one can use use the 4thQ fye2013 results as a guide and
extrapolate it,then fye2014 results will be much better than the fye2013 results with the accompanying increase in her cash position and a higher dividend payout. The above opinion is
also based on the assumption that the cost of production is handled well.

Hopefully I am right with a vested interest of seeing the company perform well.

The 4thQ fye2013 improved revenue and profit were due to the convergence of three factors namely 1) the increase in volume sold, 2) the strengthening of the US$ and 3) the lowering of the unit cost of production. This is an extract of the 4thQ fye2013 report by the company.

"The Group's revenue and PBT for the Q4FY2013 improved by about 26.7% and 111.3% respectively compared with the preceding quarter Q3FY2013. The increase in revenue was attributed in the volume of product sold and strengthening of US Dollar in Q4FY2013.
As of the improved in revenue, the Group achieve a better economic of scale which have resulted in a better profit margin."

The above statement presents the essentials .

I like this counter Homeriz based on her fundamentals/policies and prospects.
She has good fundamentals/policies which among others are 1)low P/E 2)negligible borrowings (less than RM3 million based on 3thQ,fye2013) 3)high cash position (approximately RM32 million based on 3thQ,fye2013) 4)good earnings sharing policy (minimum payout of at least 40% of earnings as dividends and 5)reputable auditors of Crowe Horwath.
As regards her prospects,I think Homeriz should perform well these coming
two or three years based on the following reasons among others.1)The western
economies are picking up.As an export-orientated company exporting to these economies,Homeriz should perform well if the pickup continues, all things remaining the same. 2)The weakening ringgit is a plus for Homeriz as her exports are largely quoted in U.S$.The weakening ringgit is like being able
to sell your products at higher prices with your costs largely remaining the same.3)The Malaysian government may implement policies favorable to export-orientated companies to improve her current account/foreign exchange position.
I think the company should perform fairly well for fye2013 with a substantial increase in her cash position (as there are no new capital expenditures,I think)as well as a decent dividend payout of at least 3.25 sen per share.
Hopefully I am right since I have money riding on this horse and intend to
commit more money provided our Malaysian economy don't go down the drain(ha.ha....).

I have abandoned this counter as there are announcements by the directors
that I do not looked at favourably.

Thanks for the feedbacks. Hello Hq if I may address you as such. Firstly do you mean the last two words "good luck"? Secondly,I must agree with you that the directors should not have rewarded themselves with the "increase in emolument" until they have shown positive results. I generally do not buy ACE counters. Frankly speaking I am buying HHH at current prices as she looks to have fundamentals and potentials as well as the fact that the counter is speculative in nature. Based on the nature of the business ,I expect the company to make profit every coming quarters since her business is not cyclical unless there are unforeseen circumstances. The industry the company is in is a growing one and with her added production capacity, she should do fine if the directors are doing their jobs and are able to maintain or improve the company's profit margins.I see no reason why the company is unable to declare a small dividend in the near future to instil confidence. Infact I would prefer if the company has a dividend policy.HHH is a counter that was and would likely be speculative in nature. Its small capitalization and low prices allows private syndicates, broker firms and directors to control( or manipulate if you prefer) the counter. Moreover the low price allows one to make a profit or loss based on one bid difference depending on the positions one takes. As such one should be cautious and comfortable when taking a particular position especially with respect to an ACE counter. As regards to the Pulau Indah plant, I hope the plant wlll be running by June 2013. Otherwise it reflects poorly on the directors, sponsor and
analyst concerned. Hopefully I am right since alot depends on the intentions and actions of the directors. Good luck. Be kind in your words if you want to comment since I know most of you would lost money based on the past and present prices of the counter.