I have been trying to come out with a target price for OCN, see what is a good price to go back in. The Affin Hwang target price seems to be very much on the lower side.

Non-Woven seems to be in play now. Say their non-woven demand increases. But production will be limited as number of employees allowed to work is subject to 50% under MCO. With overtime, they can have higher capacity. And non-woven margins would have improved. Do they have sufficient raw-materials? Any supply disruption? Unfortunately, manufacturing activity for felt has more or less halted. Zero revenue with overheads.

These are my thoughts, anyone can share their in-sights.

Princenato, thank you for sharing the analysis.

AffinHwang target price of RM0.14 seems very low. I don't believe they took into account the non-woven part of the business. Even if we double that to RM0.28, seems on the low side, but acceptable as a worst possible case situation.

If it ever goes to RM0.14, I will refinance my house and invest all in OCN. Hahaha. Time will tell.

Let us not forget their insulation business. Demand will be reduced, factory probably shut-down during MCO. Will the non-woven business be able to cover the insulation business?

Their non-woven is used in diapers manufacturing. Not used in face mask. Please read their annual report and quarterly reports. Unless they have modified their factory to make non-woven for masks, this I don't know.

Website just says, non-woven is used in..... Does not mean their non-woven is used for all of it. They specialize in breathable non-woven for diapers. These are higher end better margin diapers as more comfortable for the user.

I had sold all of my share-holding when the price went up. Would consider going back in once this Covid stabilizes.

I understand the process to move Shah Alam production to Tg Malim has started. The Shah Alam land it worth hundreds of million with direct access to Kesas. Share price does not reflect this. Buy on dips.

4th Qtr 2019 EPS 0.58 almost 35% lower than in 2nd and 3rd Qtr 2019. Any thoughts?

Expecting Big Profit, from disposal of Alam Flora. The issue is that market sentiment is bad, our political situation and the covid-19. Based on long term prospects, I believe DRB is under-valued.

To buy back or not?

Gone case.

What would the impact of supply chain interuption caused by covid-19 be? 1 part late, a whole car delayed.

I still won't buy DLADY. For the following reasons:
1) P/E Ratio very high @ 24.92 times. (based on last 4 quarters)
2) NTA per share (RM2.34) very low compared to share price.
3) Dividends has been dropping.

Previous dividends per share:
2016: RM2.20
2017: RM2.80
2018: RM2.00
2019: RM1.00

Now let us look at cash per share.
@ Dec 31st 2016: RM3.34
@ Dec 31st 2017: RM0.95
@ Dec 31st 2018: RM0.50

@ Sept 30th 2019: RM0.74. Please note that DLADY paid out RM0.50 as dividends in Dec. Will cause the cash per share to drop. I am waiting for the next report.

As long as cash per share is low, I do not foresee dividends going back to normal. For 2020, excluding any extra-ordinary items, dividends at best will be the same as 2019.

Other factors to keep an eye out for:
1) Banks reducing interest rates, this will lend some support to the share price by investors accepting lower yields.
2) If ringgit strengthens, this could improve margins by reducing cost of sales.

At this point in time, I feel the share will go lower, as I do not believe dividends will go up in 2020. This is my opinion. Do own research to decide to buy or not..

I think CKD launch will be after CNY.

X70 CKD launch has been postponed. Originally was suppose to launch in Sept '19, than postponed to Nov '19, than read coming out in Dec '19, now hearing coming out after CNY. Hope the X50 is not delayed like the CKD X70.

If last year report was before 1 for 10 bonus. Have to discount the TP a bit.

Agree with Hornbill. X70 CKD will.be launched in Jan 2020. Proton vendors will start supplying now. Qtr 3 results will be good and Qtr 4 will be even better. Looking forward to 2020, X50 production will start in Qtr 2 for Qtr launch. Next 9 months looks good for the felt division. Hope.the hygiene will be doing better with the new customers. Awaiting for the next Qtr results and notes.

EPS & NTA per share keep going down. Without government help to fund new franchise pharmacies, This sector also gone case. Not a good sign.

Keep issue shares, talk got this opportunity, that opportunity but nothing materialize. By now the herbal plants should start contributing to the bottom line. Or is this also talk only?

Yes, Good results. I expect Qtr 3 results will be better than Qtr 2 and Q4 will be even better. Can accumulate below 0.455 and possibly look forward to a 10~15% return in 9 months.

I think the market is looking in the future. New customer in the Hygiene division. Felt sales expected to go up with improved National Car Sales. X70 going to start local production, followed with X50, this will be good for the Felt division. Things will look more promising with Qtr 3 results.

If he wanted to buy bad biz, long time he did already. Your argument is like a 7 year old kid. No point debating with you.

Csan, sit in your mummy lap and don't play the stock market. Because you have zero control in any counter. You understand? Which counter you have control as a minority? Tell me NOW

And mr cry baby, please let me add, already stated in the forum the share price will go down once SCR is rejected. Someone even said go down to 0.60. Again not paying attention izzit?

csan, since you heard my ceramah, I guess you were there at the EGM. Were you not paying attention? Let me recap.

Board asked for higher price from TY and TY refused to go beyond RM1.10.

To include people in the board, we don't have the numbers. Simple. You need 50% + 1 vote. We don't. You understand or not? Simple maths. Even if we have 49%, which we don't, we cannot. You understand simple maths or not?

As for my "ceramah", all I said was our company has 1.31 in cash, repeat 1.31 CASH + business, they offer is 1.10. I said not fair and not reasonable.
Nobody will give 1.31 to get 1.10...you? I would love to do this kind of deal personally with you.
And you think my "ceramah" can persuade the whole hall. Wake up la. Why didn't you speak to support the SCR, if you think so good? No confidence to talk openly? Hiding behind your key board. Go and cry to your mummy.

EGM finish. SCR gone. What is the point of sulking like cry babies....like a small kid crying to their mummy complaining so and so voted against the SCR....if you cannot take it, put money in FD, don't play the stock market. Like you didn't know the SCR was going to fail. We already said we have the numbers and you guys still around and now crying. No body feel sorry for you. Understand?

For me this is a good company, I am still invested. I am glad the SCR didn't go thru so I can participate in the long term returns. Long term prospect is good. Go study Altech Chemicals, look at their business in Phillipines. They are in PN17, because no core biz and BOD explained very well the challenges they face at Bursa.

If you disagree, sell your shares and cut your losses. Simple.....stop being cry babies!

Dividend payout ratio very high. I like the yields. Management returning profits to shareholders. I will hang on to my shares

Shit!!!...I bought at 1.94. Now 1.91!!!

Yes, RM1.27 is the lower end of my discounted cash flow analysis. If get higher, I will not complain. :)

Linda77, don't worry. No need recommend anyone to be Chairman. Based on my calculations, a fair value is RM1.27 per share. Hope we can get this, all will be happy.

DRB owns 53.5% of POS Malaysia. So the share of loss after minority interest is about 300 million. So actual reduction is 700 million. I think can start accumulating.

Proton used to be a drag on DRB shares. Now it is POS Malaysia. Losses at Proton was about 1 billion a year. Now it looks like POS Malaysia will be running at a 600 million loss a year. Proton has turned around, so it is like a reduction in loss of about 400 million. If drops a bit more, I will start collecting.

Linda77, or is it my comments of the vultures coming in late in the game got you upset? You were never active in this forum and only started commenting regularly after the SCR was announced. Did your group accumulate bulk of the shares, based on your advice, late in the game and now suffering losses that cause you to get emotional and upset? I am so sorry.

Linda77, Linda77 stop being immature with your comments. I have my opinion, you have yours. I have a right to my opinion as you have yours. And I don't think 2.00 is a fair offer and I am not interested to be chairman. Never assume. At 1.30 I would be happy. We make a good return and the proposer walks away with a decent amount. A win-win situation. Not at 1.10. Are you some how related or a friendly party to.the proposer? You seem to get very defensive. Or is it your immaturity?

We only want what is fair. You should be screaming at TY and the BOD for making and accepting the low offer. I have no pity for those vultures who came in late in the game and expect to make a 10% return.

Counter at 1.15 also TY will shake. Remove him as chairman and his 2+ million yearly salary gone!!!

They should be more scared than us. They have much more at stake than us.

If share price drop, we buy like mad, make Melewar worried of hostile takeover. We need to stand together.

Vote against issuing shares. So cannot sell shares to friendly party cheaply & indirectly increase their shareholding.

Vote against share buy back at AGM. Than they cannot increase their % shareholding using company funds.

Looks like offer at 1.10 goint to be rejected. Many of us have been here for a few years, what is a few more years to get a fairer offer.

All get together and vote down all proposals at the AGM. Do not let them buy back or.issue shares, they will use this to their advantage. All independent directors must be removed for accepting the proposal!

With US China trade war, will US importers buy from other countries like Malaysia benifitting export countrrs like FL?

Qtr 1, 2018 was really bad, where revenue was slightly less than RM30 million. I expect Qtr 1 2019 to be much better. This will improve the rolling 4 qtr results. Will show the stock is undervalued.

Independent advisor said reasonable....what are they smoking???

Last year was 5th of June. I expect it to be around that time.

Nope, also invest elsewhere. With most of my funds in MAA. People who invested in MAA, I feel have the same investing strategy, looking for good dividend yield, under value etc. So was hoping we could use this platform to look for the next MAA. Where returns of a couple hundred % in a few years.

After SCR, where shall we put our funds? Maybe we can use this thread to discuss potential stocks.

For now won't drop. Price will be 'maintained' at current levels. If drop, no one will buy the PP. Go back and look at the last PP at 0.24. After PP shares fully subscribed, than no more support and the share price drop. Unless in the mean time KNN can show that business has turned around and can generate profits.

To do PP means no money la. Bank also don't want to.lend anymore. Company bleeding cash. General & family members salary millions a year. So need PP la....if not how to makan. You think he & family want to reduce his salary?

Last time PP at 0.24 after that drop below 0.10. Now PP at 0.155....will drop or go up?

I long time invest in this counter. Price up and down I add only. I like because:
1) Good dividend yield.
2) Selling below NTA.
3) Cash rich.
4) Trading at low P/E Ratio.

I still feel that this share should be way over RM2

USD up against RM. Will be good for FLB.