how about your Daiman? as i recalled, they own a hotel in JB run by Doubletree Hilton.

Not all hotels losing money.

TA hotels are not.

Even local ones like Landmark is not. They contribute healthy cashflows to complement the property development business.

but really need to watch out the oil price. rising dollar is a double whammy.

i think the return will only gets better in end 2019 to 2020 onwards when the extra capacity from their expansion in Indonesia and the shale gas project takes place

last quarter EBIDTA margin drop below 20% for the first time

Amanahraya keep mopping up the shares.

something brewing?

hopefully the potential margin erosion impacted by the increase feedstock cost can be mitigated by higher selling price.

i have some reservations regarding Q2 given the increase in oil price coupled with rising USD translating to higher feedstock cost and lower margin.

Good confidence.

I don't think i'll lose money with OSK. It's just a matter of TIME, and time is the only advantage i have.

Unless situation like TA happens and impacted my CAGR which make me unhappy. haha.


Posted by Jon Choivo > Jul 26, 2018 12:27 PM | Report Abuse

The moment i buy, im in the money! Haha

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=88482&name=EA_GA_ATTACHMENTS

We refer to the above unfortunate incident that happened on 23 July 2018.

Following the incident, the Company has received queries from various stakeholders on the risk of a similar situation happening to the Company’s Don Sahong Hydroelectric Power Project (“Don Sahong Project”) and its implications thereof.

The Board of the Company has made the necessary enquiries with the management of Don Sahong Power Company (“DSPC”) and the Project consultants. Having reviewed the circumstances surrounding the incident and the specific and unique characteristics of the Don Sahong Project, the Board is satisfied that present and future dam safety risks remain low and are being (and will continue to be) appropriately monitored and managed in accordance with the industry and international best practices.

At this juncture, the Board concurs with the management of DSPC and its consultants that the incident is unlikely to result in any delay in the completion of the Don Sahong Project or a material change in the overall cost of the Project.

no advice from me because im not in the money. lol

anyone checking with the IR for clarity?

i lazy to do a SOP valuation for their 3 separate businesses.

just based on highway valuation already more than market cap.

i see.

then our common stocks should read as Insas, Eksons, Trop, Ekovest and OSK. Haha..

@TheContrarian what other shares u holding?

i see we have some common stocks, e.g. Insas, Eksons, Trop, TA?

where got 4.07? lol

oh actually i havent update the DCF valuation for LiiHen.

mine was computed based on FY2016 numbers.

my shiok sendiri assumptions:
average FCF past 5 years
growth rate 10% for next 10 years
thereafter terminal rate at 3% similar to inflation rate
WACC 9.68%



Posted by Larrytrader > Jul 23, 2018 01:35 PM | Report Abuse

Can you share your calculator?

i hope it goes up soon. other prop stocks Tambun and Mahsing had went up.

http://www.theedgemarkets.com/article/shares-furniture-players-gain-potential-increase-demand-amid-uschina-trade-war

Pohuat has factories in Vietnam.

bought at 88sen too. good number.

TheContrarian Bought at 0.88 today.
20/07/2018 12:15

5.92% CAGR over 5 years acceptable la...few years ago FD is nowhere near 4%.

my cost is 3.25 still long way to go. lol

i'm still queuing to buy.

my cost is at 57sen. bought in 2013. holding for 5 years now.

i have sold off 40% of my holdings at 0.655 with total profit of 33% and CAGR of 5.92% over the 5 years holding period. consider decent la...though its far from my 15% requirement.

anyway keeping 60% while waiting to see how this MGO pans out.


Posted by TheContrarian > Jul 22, 2018 12:22 PM | Report Abuse

Most people stuck with TA for years at higher cost.

Padini is one regret to me. Bcoz for whatever reasons, this stock was not appreciated by the market for its fundamentals and have been undervalued for many many years. And out of nowhere mr.market falls in love with Padini, re-rate its multiples higher and higher. And i sold early thinking its probably fairly valued basing on its historical multiples.

i also bought Padini then at 1.59 but unfortunately sold it 2 years later at 3.

wah TA forum still so active. let's wait for the events to unfold itself.

in the meantime, just HOLD only

What is your analysis, James? I don't see anything other than copy paste from the quarterly report.


James Ng https://klse.i3investor.com/blogs/general/166273.jsp
[转贴] [LII HEN INDUSTRIES BHD，生产成本提高及员工短缺] - James的股票投资James Share Investing

Profit on downtrend. Profit Margin below 2%. Low ROE.

My DCF calculation shows LiiHen is worth RM5.10.

rising crude oil and weakening of ringgit does not bode well for them

you do a simple DCF la on its FCF...then roughly u can gauge its IV

with or without trade war, outlook for furniture industry is promising given the strength of US economy and the hurricanes. this trade war is a bonus.

Within the furniture space, Lii Hen Industries and Latitude Tree Holdings are two stocks which caught the research house’s attention considering 70%-90% of their sales are directed to the US.

Furthermore, both have solid balance sheets with a net cash position, making up 10%-20% of their corresponding market capitalisation. Valuation wise, they are trading at less than 10 times price-to-earnings (PE) while offering commendable dividend yields of more than 3%.
Read more at https://www.thestar.com.my/business/business-news/2018/07/20/furniture-and-glove-makers-winners-in-us-china-trade-war/#OxyvzxybL3qwyQ21.99

Calvin, what did u find out about OSK assets? mind to share?

Meaning DT selling spree would continue?

I keyed in 86sen. Hopefully gets done.

@TheContrarian

U also got buy Tropicana shares?

share price back to normalise. Immediate TP remains at 1.50

I bought Ekovest at few tranches
0.965
0.93
0.65 (unfortunately is the lowest amount of the 3 tranches)

Liihen's ROE and ROIC has always above 20%, generating high returns to the shareholders

trade war will benefit local furniture companies

demand is increasing
exchange rate is favourable

management main worries is to manage the labour issues

time to relook at furniture counters.

if Calvin thesis is right. the only way for Eksons is upwards.

the share price has reached its bottom.

for a company to trade below its cash value. any raider can come in and just buy over the company and recorded a handsome gain upon acquisition!

quick check at their AR shows that the company generates healthy operating cashflows in FY2016 and FY2017. their dividend payments are supported by FCF generation.

FY2018 recorded a minor negative OCF. The company incurred low CAPEX. I believe the FCF trend is intact with improving profitability.



shpg22 Company is losing money thus expect no dividend..that is enough to overwrite all the pros above. Recent dividend is consider an one off after almost 5 years of drought.

Cash per share at RM0.96 compare to current price of 0.75. Unless the major shareholder is willing to sell the whole company or distribute it as dividend otherwise its meaningless to retail investor.

any idea when the independent advisor will release its report?

where do you get the news on the bonus issue?

Eksons, a classic case of stock trading below its net cash

cash per share (excluding liquid investments) = 93sen
Share price = 75sen

I hope management can consider distributing the "differential" 18sen as dividends to us shareholders.