PNB now holds 4.4 B shrs or 53% of total 8.32 B shrs...

If the oil price hits $75/bbl, it may be good for Gov't to take UMWOG private and park it is an integral biz of Petronas ... all these oil services companies are just stressing up our banks....

Do not to be concerned whether PNB convert 1.2 B shrs of i-RPS to Ordinary Shares to sell down or not... as if they want to sell, PNB could sell from the 3 B shrs that they hold.

In Oct 2017, the additional Rights Issue of 1.2B shrs were beyond the 65% of PNB-ASB can hold as not to trigger a MGO (mandatory general offer) that were converted to I-RPS (non-voting shrs) (as PNB agreed to subcribed to all excess Rights shrs not taken up).

What's important here is UMWOG has achieved its cash call of RM 1.8B to reduce its gearing. UMWOG is now out of ICU & HDU (high dependency unit) like in a hospital and recuperating with all 7 rigs utilised and with the oil price firming to support hire rates, it can recover very fast.....

...Judging from the upbeat outlooks from Halliburton and Schlumberger, this year could finally mark the end of the downturn for the oilfield services business.

Oilprice.com

Blackrock started buy in 4Jan 2018...
BlackRock Fund Advisors
AS OF 04 JAN 2018
6.57m 0.09%
BlackRock Advisors (UK) Ltd.
AS OF 04 JAN 2018
5.59m 0.08%

Sometimes, I wonder whether the PNB Fund Mgrs have it all figured out?....
from Jan 8-11 they sold off 180M shrs at 46 sen to gain some 10 sen (46-36 sen) or RM 20M from the sale...from this they trigger a big sell-off to 36 sen and if they are holding 3.19B shrs, PNB would have reduced their capitalisation in UMWOG by RM 319M (3.19B shr x 10sen)....
... it's just like the slow cat biting its tail...

Hammer or no hammer, Fajar has already gain RM 8M from its PA investment...
Fajar Directors should sell all PA-W shrs next week to give out another 1.5 sen dividend to shareholders for Chinese NY...besides helping old friends, maybe time to give to shareholders

Every 1 sen increase in PA Resources, Fajar's profits increase by 1.5M (152.5M shr x 1sen).
Add the free PA-W of 78.3M shrs, already got free RM 3.5M, so new investment in PA is astounding for just 2 weeks work, much better than rail or paragon projects .... suggest share investment as another core business if got so much funds, else give dividends every qtr to shareholders...

no need for so many subcontractors for rail works, maybe CCCC just take a 20% stake in Fajar... to get the job done.... Everyone happy... BN got Chinese votes, CCCC got local partner that you can trust (overseas Chinese)...Jib got Pahang developed... China gets goods faster via Kuantan-Klang rail link to Europe. All other ports can close... just keep Klang and Kuantan ports.

@Ming, maybe Fajar got good inside info on PA biz, afterall both got same director Wong. Fajar main shareholder and PA main shareholder were both main shareholders of Hirotako before. You know, old boys club. I've got old boys club too but we only do coffee.
Fajar invest in RIghts issue in PA in 2012 not wise as solar biz in PA eventually folds... Fajar invest in Rights in Dec 2017 is much better... as PA is now back to basic core biz... aluminium smelting

Fajar's investment in PA Resources in the money today. Net gain about RM 3.3M.

what CNY got to do with timber production? Not many Malaysian Chinese left can operate the chainsaws and bulldozers, only equipment they use now is their handphone...

if you rename it 'SAPura No eneRGy' or SAPNRG, what can you expect ?

The ESOS for Directors & Executives is a 'downer'. This is not consistent with creating long-term shareholder value and employees' loyalty as it was meant to be, rather it has been a means for executives to cash out in its first year. BOD should set a minimum exercise period of 1.5-2 yrs after granting ESOS. As in current scheme, it does not retain employee nor develop talent for succession. It is just a one-sided, risk-encouraging and a short-term incentive plan.

The BOD needs to be thoughtful and come up with a long term incentive plan for both employees and shareholders. If cannot think, pls do not request for re-election. This is just miserable !

There should also be a 'closed window' of 3 wks before financial result or other major announcement where ESOS are not allowed to be traded. Do we have a Compliance Officer in Fajar? It is again miserable for Directors to trade during 'closed window', taking advantage of Bursa's Exemptions rules.

Fajar-Beulah JV's Paragon development has been exceptionally well-received with 90% of the project’s 277 apartments being snapped up during the pre-launch campaign. Launched in April 2017.

Negating oversupply concerns in Melbourne’s CBD, Paragon pre-launch sales totaled $175 million showing the phenomenal interest in this unique development at a heritage site.

Featuring Australia’s first indoor high-rise forest, purchasers were keen to swiftly buy within this exclusive enclave located in the heart of Melbourne.

I wonder which qtr would Fajar credit its share of the 10% downpayment on Paragon apartments?

A need to convince Directors & Mgrs not to dispose off their ESOS share options and diluting total shares. They need to exude confidence & loyalty to stay invested as options do not expire until 2019. To trade and to take small, short-termed profits is simply miserable for Directors.
The AGM is on 30 Nov... if not interested in growing company, pls don't ask to be re-elected...

If there is negligence identified in any fire incident, the Insurance Adjuster will reduce claim accordingly. If doesn't mean a full compensation if a fire destroyed an asset unless a fire is started by someone's else building next door. If a fire started in your building, that means there is negligence or arson because Mgt is supposed to prevent a fire from happening. This is the second fire incident in Liihen.

today CPO (Jan) price is RM2815. Selling ahead estates' Q4 production at these prices should wrap up FY17 results bounteously...

Immigrant labour working in plantations are generally piece-rated and based on CPO price.|
As CPO price rises, harvesters earnings will increase accordingly..

one of the main objectives of ESOS is to align employees' (& directors) interests with that of shareholders... it does not seem to be the case ... or is it that its Directors & Senior Mgrs are just not loyal and are just too greedy to continue disposing their share options?
ESOS is supposed to be a long term proposition, and not within 6 mths!

For this year, it should be much better as FFB production and CPO prices almost similar for Q3 & Q2... PK prices are better in Q3, so gross profit from estates maybe about 10M. Mill should make more profit with only 10% processing margin this year. Power plants now only in working order.
By Q3 results, net profits for 9 mths should exceed the 12 mths of year 2016.
If not, Mah's horse cannot run...lah!

Last year in 2016, Cepat was disastrous.... had impairments from Indon venture, oil mill and biogas plant just struggling....
I wonder whether Cepat has replaced those responsible for the Indon fiasco and those who are unable to fix the mill....
The plantation and oil mill business is is a very simple business and the the Malaysians are already World's Best.After more than 17 years, the plantation should be a cash generating machine... so what gives?

If this year Q3 & Q4 results can net 13M & 14M profits, then total for year net profit 44M.
This will match the Cepat's best year in 2011 when CPO price was RM3200 pmt.
Mill & Power plants can continue to increase its profits of 3M each per qtr with efficiency and capacity utilisation... Good prospects for Cepat! December dividends coming...

As in MRT project, Fajar usually get to contruct the station buildings... so after they have done the LRT3 rail structure... the buildings will be completed last in 2019-2020

1st half 2017 profits already 75% of previous full year 2016
2nd half 2017 profits with higher production & prices expected to be 20- 25% more than 2016
Overall, 2017 may exceed 2016 net profits by 40-50%
...whatever, it's exceedingly good for this plantation stock

Significant increase in US wooden furniture imports....
https://www.globalwoodmarketsinfo.com/significant-increase-in-us-wooden-furniture-imports/

Q1 EPS was 12.3 sen/ shr. At factory site visit after AGM, Mr Chua said Q2 earnings more than Q1... that was the confidence...

Expect 6 sen/shr for 2nd Interim dividend (19 Aug earnings call) as EPS for Q2 is more than 12 sen, else will vote against prt sale of factories sites fr directors...

What's getting interesting here is that the volume of daily trade is improving after Ty-Koon and owner Chua have sold down their shrs. When foreign ownership of shrs increases, the local fund mgrs will follow later.

Liihen & Air NZ were on par 3 wks ago at 3.22, now AirNZ has moved to 3.55 as foreign ownership of shrs increases... http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11890005

The best part is Liihen have better metrics than AirNZ on EPS n Dividends...so just wait until our investors wake up soon to export counters improved earnings...

No Good News for these stocks (of soft investor interest in general ) :

1. Lotte Chemical Titan IPO public issue underscribed (35% not taken up) even after IPO price reduce by RM 1.50
2. Edra Energy IPO has a call to public by PKR MP not to take its new share issue
3. Kumpulan Jetson RM919M construction job revoked on misrepresentation allegation
4. Spring Gallery Bhd RM176M contract in Perling,Johore called off
5. Petronas Dag selling off LPG gas business in Philippines for USD124M
6. Texhem (of Sushi King) shuts down Tim Ho Wan (One Michelin star) outlets
6. IWC & IWH merger extended deadline to Sept (need more time for talks)...
Who talk2 Who? Hoo n Hoo?

Good News in Defensive stocks like Liihen :

1. Malaysia's exports for May growing est at 20+% yoy - double digits growth for 6 mths since Dec 2016...
http://www.marketwatch.com/story/malaysia-exports-likely-rose-22-in-may-poll-2017-07-05?mg=prod/accounts-mw
2. Malaysia's ban of rubberwood exports wef 1 July2017 will benefit wood furniture manufacturers to improve raw material availability and reduce cost of production
3. Ringgit losing strength as crude oil price retraced below USD50/barrel. USDMYR may head lower to 4.40
http://www.theedgemarkets.com/article/ringgit-seen-sliding-440-against-us-dollar-3q
4. US Economy still growing at moderate pace and this bodes well for Malaysia's export sales

My calc guess is that by Fri, Mr Koon will be done with Liihen shrs.
Next he will start selling Sendai... or is it someone has already started the big sale of Sendai on Mon.
Tomorrow, the seige n squeeze of Qatar starts as deadline for negotiation is over....or maybe gulf war redux

19 June 2017: Ong Ka Chuan: “The availability of raw materials in Malaysia, especially with the emergence of rubber wood, has been instrumental in the development of the Malaysian furniture industry.”

http://www.thestar.com.my/metro/community/2017/06/20/strengthening-the-furniture-industry-threeday-fair-serves-as-platform-to-promote-products-for-export/

To the Chairman BOD,
At the recent AGM in June, you mentioned that Directors fees have increased because of an additional Director. As Mr Koon is no longer a major Shareholder, wouldn't it be appropriate to reduce one director, namely Mr Chan, who was appointed because he is Mr Koon's bro-in-law.
Also, we the shareholders do not agree to any investment in JAKS as such Mr Chan (a consultant for Power Generation in Myanmar), this appointment is a now irrelevant....

On Malaysia's ban on rubberwood exports, this will benefit Liihen & Hevea as rubberwood is their main raw material for manufacturing.
Latitude & PoHuat have 80% & 60% respectively of their revenue from their Vietnam subsidiaries and their business may be affected... so, wood furniture exports from Vietnam & China will continue to decline

KYY probably has about 2.5M shrs +-10%. I guess he has sold some 3M on June 15...as someone bot 3M at 3.23

http://www.thestar.com.my/news/nation/2017/06/29/government-to-ban-export-of-rubber-wood-from-july-1/

Good reason now for BOD to abort planting of rubber trees project, after all it is a silly plan. Ever hear of a Lobster restaurant going into lobster farming to ensure regular supply of lobsters?

The MTIB is encouraging the Malaysian furniture industry to venture into more Original Design Manufacturing...
https://www.globalwoodmarketsinfo.com/malaysia-original-furniture-designs-generate-higher-returns/

oil is collapsing, tony will wish that he had left room to hedge fuel for the rest of 2017...

Ringgit at 4.295 n WTI Crude at 43.27 n DiCaprio returned all the 1MDB gifts.... soon it is crunch time. Hold on to your Liihen as it is Ringgit-proof, Oil-proof & 1MDB-proof... Ty-Koon has less than 3 M to dispose off then he's done...

A copy of Trump's 'Art of the Deal' book that was given to Kim Jong-un of North Korea recently.

Here's the 11-step formula that can apply to everything n everyone..
1. Think Big,
2. Protect the downside and the upside can take care of itself,
3. Maximise your options,
4. Know your market,
5. Use your leverage,
6. Enhance your location or position,
7. Get the word out,
8. Fight back,
9. Deliver the goods,
10. Contain the costs,
11. Have fun doing it all...

I don't have an acc in NZ, my son has...

The value of US wooden furniture imports declined for the second consecutive month in March to US$1.24 billion. Year-to-date imports were still 7% higher than in March 2016. As in February, the month-on-month decline was mainly in imports from China (-17%) and Vietnam (-15%). Yearto-date imports from Vietnam however, were 15% higher than in March last year..... https://www.globalwoodmarketsinfo.com/us-wooden-furniture-imports-from-china-down/

Nakata
One way is to open an acc with https://www.asb.co.nz/ then you can trade NZ & Aussie counters n transfer funds online wherever you are anywhere in the world

Very steady like Liihen? The closest I can recommend is Air New Zealand (AIR), an airline that is much better than AirAsia or SIA. Air NZ shr price $3.20, EPS 40 cts, Div 20 cts... Lii Hen Shr price RM3.22, EPS 42 sen, Div 26 sen... quite similar metrics as one in NZ$ and the other in RM. Why NZ? At least you got one foot there and one foot here... also your children can use the profits for tuition fees.. or just a holiday to Marlborough vineyards for the best Sauvignon blanc...

At the AGM, he did mentioned he did some off-market trade (1-2M shrs) recently and could only get 3.10 at best price. Normally, some Ty-Koons like to take care of the cents, as they know the dollar will take care of itself...

This is getting interesting, at today's volume rate Ty-Koon will be completely free from the radar of Lhen in 3 days

On Pohuat's comparison of Qtr2 vs Qtr1, revenue in Vietnam has declined 27% and in Malaysia 9%. Read the qtrly report of Pohuat on their improving sales in Malaysia on bedroom sets that they recently introduced. Those having operations in Vietnam will continue to have reduced sales because of local labour and rubberwood issues... this makes Liihen different

Patrick13
Management of production units, facilities and logistics are all up to mark and in order. Customers (US distributors) all come to Lii Hen factories to make orders (5ft, 6ft or 7 ft beds) so no need for marketing except in Furniture Fairs. Lii Hen use sub-contractors for the volume business. Most of their products are of rubber wood furniture for the middle & lower class of American families. This is a low cost, high margin brick-n-mortar business using immigrant labour. Malaysia will eventually supersede China & Vietnam in wood furniture exports because of cheaper rubberwood raw material and cheaper immigrant labour. In any country, immigrant labour always work harder than local labour... like the Malaysia's plantation industry in the 90s' where eventually the local labour get displaced.
Business is encouragingly good and labour shortage is less an issue as mentioned by factory manager when I asked. Chairman is quite blurred on issues on rubber planting business, RPT of factory land and labour shortage.

Ty-Koon didn't say wood furniture exports is a sunset industry... he requested for more volume n excitement n higher price as he could not sell much. He suggested to Liihen to use cashpile to invest into JAKS but was shot down by Hays of Pangolin Fund. Another shareholder (the long-haired guy wearing sandals) identifying himself as a fund mgr said furniture is a sunset industry and related it like the palm oil industry that is able to turn it around if they can do something about it. A sunset could mean to me as sitting on my patio enjoying beer or tea when the Sun is setting knowing everything runs like clockwork n dividends n cash is growing, albeit not so rapidly (that is, not as rapid like Priceworth that can forecast a 100M gain in 2018).
After the visit to the HQ n factory sites n seeing the Evergreen containers, I asked MD Chua quietly how is Q2 & Q3 biz volume compared to Q1. He said better than Q1... he should know as his orders are made 120 days ahead....

If after two years, this airline cannot turnaround for consistent performance and share price languishing at 41 sen, it is about time that Tony look for another 'Peter Bellew' to run AAX...

For accountability of the Safitex bad debts since FY15, all Board members including the Chairman & CEO have to be replaced as soon as possible... else shareholders confidence will deteriorate further