imagine if without the panic selling from investors when AA was trading at below RM1, where did we get the chance to buy at such low price? that time many research house mentioned that AA will do badly due to their philipines and indon associates.. but after I did my research, i disagreed and think that these associates will turnaround in 2016.. and it has proven that my assumption was correct..

i started to accumulate AirAsia when it was around 80-90sen.. and I have not sold a single share yet.. i think RM4.00 is achieavable by year end...

same thing happens to AirAsia and AAX.. when Q2 (normally the weakest quarter in one year) was announced, many kontra kaki and speculators sold off like no tomorrow... but they forgot about Q3 & Q4 which will definitely see much better results... see what happens today... strong rebound and these sellers must be crying at home for cutting loss over last 2 days...

steven20, i agree, price will not shoot up in short term... this is for middle to long term investment... afterall, you still get decent at least 25% dividend payout...

dun forget that Q2 was impacted by scheduled plant shutdown for maintenance.. so i would expect Q3 & Q4 to improve.. let's just wait and see... it is great that when ppl are frightened, I got the good chance to make huge profit...

evergreen is a fundamentally strong company and rebound is for sure... just a matter of time..

moneykj, i am not sure who you are referring to as "expert"... btw, if you happen to mean me, sorry, i only started to accumulate when the share price was below 1.00, not 1.79... and yes, i am happy to average down from current price... let's see who will be right down a few months or a year.. i dun mind holding it a year to make 50-70% gain or even more....

i dun see any fundamental change so i will still buy if the share price drops more... it is a game of averaging down and when it rebounds, you gain big... i experienced that in 2013... and when i sold off the shares in 2015.. i earned >200%... and now i bought back due to the same reason... i dun expect a quick rebound of price in 2016 but i look forward to 2017...
as long as you have holding power, i dun think u are gonna lose anything in this share...

Goodluck888, thanks for your sharing.. i am just curious if you are comparing your company's performance (alone) to conclude that the whole furniture industry is doomed, i think that is just not right... please read what is written in the prospect column of Q2 report... u may say that the management can simply write anything... but based on my experience (via calls and email exchanges with the top management), i can tell that they are ppl with integrity and if things are bad, they won't promise you flowery prospect.. (scroll up and see my previous posts on how the COO explained the bad situation honestly when the overall demand was poor in 2012-2013)...

Read the prospect here (in Q2 report):
The Group has seen price pressures from our Middle-East market for MDF due to weak oil prices. Nonetheless, recent gains in oil prices have lessen pricing pressure and demand for MDF remains stable. The overall Malaysian furniture industry remains positive, benefiting from the weak Ringgit and competitive cost structure although general volatility in several major South East Asian currencies remains a risk factor.
Amid such volatile economic environment, the Group remains diligent in its efficiency enhancement efforts and expects a satisfactory performance for the year

please also note that trade receivables have almost doubled from 9mil to 18mil (compared to 2015) but the revenue has dropped from 39 mil to 33 mil... that sounds very fishy... normally receivables will increase with the increase of revenue... other receivables increased by 7 times!!! (from 0.8mil to 5.8mil)... see the cash flow now... operating cash flow is -3.4mil now compared to +12.5mil last year due to the extremely high receivables... sounds very fishy for me as there is a chance for fake report... and u can see that the cash has then dropped from 9.2mil to 1.9 mil now... many only look at the EPS which can be manipulated but forgot about the cash flow... good luck if you have not sold your shares...

as expected, the growth is not as good as what the speculators have thought... and the net profit margin has dropped in Q2 2016...

haha... for those who sold two days ago at a loss must be crying at home now... and those who bought from these sellers at much discounted price must be laughing all the way to bank now... as i said, Q2 is normally the weakest quarter seasonally (as indicated by AAX in the report) and Q3 and Q4 will see a rebound for sure, as the group management already said that the pre-booking for Q3 that they have received so far is very promising and they are seeing improvement in load factor... i sometimes have to pity those contra kaki / speculators for not being mature enough in the share market... an "expected" favourable result is causing them to tremble and sell like there is no tomorrow...

it should be trading around 26-28sen at most... the growth is there but has been over-exaggerated... i expect slow growth as banks normally don't change the machines unless they are totally not repairable... afterall, they may be getting complaints from ATM users as well as they will need to wait for those who deposit money (even worse if the amount to deposit is large)... we all had the same bad experience doing cash deposit... it is time consuming and reject rate for cash is high!...

it will unlikely drop until 60-70... full year EPS will be at least 10sen (Q2 should be the worst quarter due to scheduled plant shut down for maintenance and I expect Q3 and Q4 to be better)... at current price, PE is around 8.5 only and do you think it will go down to 6-7? very unlikely.. i am buying more shares at current price... for better results by year end / 2017... if you read their annual report 2015, you know they are going to improve their capacity and profit margin (new RTA / value-added production lines) in 2016-2017... never be so concerned on a single quarter result (Q2) as fundamentals remain strong and intact...

amanah saham keeps buying HSL..recently added about 2,000,000 shares..
http://www.bursamalaysia.com/market/listed-companies/company-announcements/#/?category=all&sub_category=all&alphabetical=All&company=6238

those who are selling now will regret a great bunch when Q3 and Q4 results are released... stock market is indeed a place for zero-sum game.... i have been wondering why there are some ppl making huge profits from stock market... and now i got the answer... coz there are a lot of speculators making huge losses to neutralize the game... thanks to these speculators to allow good profits for the rest...

moneykj, sounds like you are the management, otherwise why would you comment on behalf if they can turnaround the situation or not? afterall, I don't see it as a bad quarterly result as the lower ASP is expected and the lower net profit was also due to the one-off scheduled plant shut down for maintenance... do you know that the management is undergoing a lot of cost reduction measures to improve the margin? and also expansion until 2017 for higher margin RTA furniture, value-added MDF, new particleboards machines which could churn out thinner particleboards with higher margin, relocation of certain production lines to save cost, etc... you seem knowing nothing other that what u just saw form Bursa and you do not have a long enough vision to see what would happen next...

the share price is plunging recently... R40s, any insights for such fall?

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5183605

yes, company is doing share buy back which means the company thinks that the current price is undervalued... and there is a high chance for improvement in next few quarters especially when it goes into 2017... don't forget that in Q2, the plant scheduled shut-down and maintenance was one-off thing and will not repeat in subsequent quarters... so i expect coming quarters will improve... that is why company is doing share buy back... let's wait and see...

good analysis... TP RM2.64

http://rhb.ap.bdvision.ipreo.com/NSightWeb_v2.00/Handlers/Document.ashx?i=1ebff3e9ba344e4a8f6b8e3c93baae25

as expected, profit for Q2 was impacted by lower ASP... and due to scheduled shut-down/maintenance (which is one-off)... but the good things is log price is getting lower now, and their sales/revenues remain strong (actually they sell more in quantity, just that average selling price is lower).. and the prospect says that Middle East market is recovering and furniture industry in Malaysia is still doing good....).. you can look at latest Liihen revenue and profit report... sales for furniture remains strong... and capacity expansion into higher profit margin products in 2017 for evergreen is a catalyst... just need to wait till 2017 i guess... nvm, i will still collect and hold...

again, another round of share buy back just before the release of Q2 results.... that sounds promising right?

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5181629

well said geary.. and in this case, Opensys PE ratio is too high... which I think recent hike was manipulated... it should trade at below 30sen which correlates well with its PE...

kwongliang... see my post above, with best ROE in construction sector, do you still think HSL is a lousy company? think twice...

“HSL has continued to be profitable every quarter since our listing and we have proven that we are a
sound investment,” said Dato Paul Yu.

At the Edge Billion Ringgit Club Awards held earlier this week, HSL snared the award for Best Return
on Equity (Construction Sector) over three consecutive years, an accolade that is testimony to the
performance of the Board and the quality of project execution achieved by the company.

in their prospect, they said that the group is still bidding for more projects... so there is a chance to add more to their order book...

that means more revenue will be recognized in subsequent phases.. u will see surprise hike in their revenue due to the 2.7billion order books on hand... after all, i expect 2016 revenue to be higher than 2015 by end of Q4... just need a bit of patience guys.... and 2017 will be even better as these mega projects will get into more matured phases in 2017... that means more revenue recognition in 2017... buy on weakness now before it is too late...

Current Year Prospects
The Group is now kept busy with project execution having successfully secured 2 major projects towards the end
of first quarter 2016. Nevertheless, the Group will continue to focus its procurement effort related to its core
business in infrastructure related projects which are under the Government agendas that generates opportunities
for the Group. The Sarawak Corridor of Renewable Energy (SCORE) initiative as well as the forces of
industralisation and urbanization provides further contract opportunities for HSL in the key SCORE growth node
towns of Tanjung Manis, Mukah, Samalaju and the major cities of Sarawak. HSL foresees the property
development segment with a variety of products will make greater impact on the business of HSL Group and is
preparing for new launches in 2016 and beyond.

i think it can easily hit 4.00... but i hope it can go beyond 4.50.. after all, the prospects are very bright and certain to add more revenue and profits to AA... AA Philipines and Indon will be turning into profitable very soon... last quarter still see operating loss (net profit just because of forex gain)... but with Tony's corrective actions, these 2 associates will turnaround late this year... and MAS rationalization also helps give more revenue to AA... expansion plans are also there... fuel hedged at low price... USD/MYR remain stable at 4.00.... so dun think we see any negative surprise in these 2 years...

hi everise, i am fine. thanks... yeah, i accumulated more when it was around 0.90-0.91... may buy some more today if the price goes down more... after all, the fundamentals remain intact, dividend payout will be at least 25% (and potentially 3sen dividends this year)... and low P/BV... balance sheet is healthy, very low gearing... will likely become net cash soon... even if the share price drops more, i will still collect more... in 2017, that is the year we will see a lot of improvement... i like it when ppl panic and sell, that is why we get to buy cheaper...

let's wait for next QR and see then.. haha...

Kang Yang Lai.. i am aware of what you mentioned above... unfortunately in Malaysia's culture, if you dont see the machine break down and totally cannot be repaired, you won;t see replacement of new machines... but dun forget one thing... more ppl use ATM than cash deposit machine.. having said so, more cash is taken out and less cash deposited.. so 2in1 machine will still run out of cash... (maybe only in shopping malls, many shop owners deposit the money into the machines, then we can see these places will need this 2-in1 machine).. other bank branches.. it will only cause much longer queue (due to cash deposit activities - a lot of rejects of notes)

kwongliang, if you dunno the nature of finance and revenue recognition, you better just keep quiet... the management indicated in the latest report that they chose to only recognize the revenue in later quarters as currently these new mega projects are just at start-up phase... please read the report before you comment... HSL is not a lousy company.. they have never made a loss even once in their business... and their revenue and profit has been growing for >10 years...

future EPS growth is not in-line with the adjusted PE ratio in future... even if the EPS double in future, PE is still more than 10... but do you think their EPS will double in these few years? 2015 was their best year (because many customers bought before GST implementation)... and EPS was only 2.61... you think they can achive more than 4 sen EPS in these few years? think twice...

we all acknowledge that the growth is there.. but may have been over-exaggerated by analysts... moreover, at current share price, PE is too high and P/BV is too high...

at first glance (like many of you), i thought opensys was a good buy when it was around 25sen.. unfortunately after i did more research, i still think that there are too many uncertainties... example.. do you think many banks will change their current deposit machine and ATM if they are stil working fine? second, if change from 2 lines to 1 line, the queue will be damn long..

bavos, in this case, why would Q1 EPS is so low? (I know they said Q1 2015 was high because the customers wanted to buy before the GST was in place).. but after GST, no more software maintenance & service?

that is why i always view the "prospects" given by management with a pinch of salt.. not to say cannot trust what they say.. but we have to analyse... sometimes the prospect is something we can be more than 90% sure it will happen, sometimes it is just "prospects"... for example, AirAsia, we can tell from their load factor and other financial forecast (from their sales of tickets in advance)... and their cost of fuel (hedged at a certain low level)... these are certain.. and we know these good earning prospects are very likely...

Drago, yes, its worth is only around 26-28 sen...

the price is now manipulated by big sharks, but fundamentals remain strong...

moneykj, if upcoming quarter net profit is only 5-10m, i will treat you eat abalone... i think the net profit will be quite flat at around 20million.. let's see...

btw, sifu sebastian, u may also look at HSL... recently the price dropped because the management decided not to recognize the revenue from mega projects they won recently (PAN BORNEO & water treatment project).. and this means they will only recognize these revenues in next few quarters when there is more progress of the construction.. this is just a matter of financial recognition but many investors already sold the shares as they just looked at current quarter result... the chance of the share price to bounce back to >2.50 is high after the inclusion of these mega projects revenues...

guys, today's falling is just a matter of time. If you look into the fundamentals of this share:
Q1 EPS: 0.3 sen... i try to be more optimistic that Q2-Q4 will earn more... let's say 0.5 sen.. then total EPS for full year will still be below 2sen... previous price of 41 sen is already more than PE20...
next, look at the net asset.. it is 18sen.. at 41 sen of share price, P/BV is 2.28!!! much higher than 1.5 ratio... not cheap! no margin of safety... any price above 1.5x 18sen= 27sen is considered expensive...

ok, they said they received many orders... but do you know that the customers (banks) can defer/delay the orders anytime? if you understand their contract terms (a friend of mine in this industry told me), they can on-hold the delivery of the CRM machines if need to... so their growth may not be as promising as many have thought... just my 2 cents... let's wait and see for next few quarter results before we buy... if the results are still poor, it will go back to around 20+sen, trust me..

yeah, i like this kind of "cold" counter and accumulate when ppl have not realized it yet...
no worry, when every QR turns out to be better and better, more ppl will buy and share price will go up... after all, its fundamental is quite strong.. u see its past year records u will know that PANSAR makes good profits every year... you are flattering me, haha.. i am just a small potato who can be the pillar to promote this share.. i am just sharing info and facts i know about PANSAR.. investors have their own intelligence to decide whether to buy or not.. right?

based on all this, that is why i said 50sen is too low a target price to set... i would aim at least at >70sen... invest or not, decision is yours...

per latest report, cash on hand is RM36.277million, bank borrowing is only 8million... net cash of 28million on hand... Net asset is 60sen, now price is only 46sen... P/BV is 0.76... margin of safety is 24% assuming P/BV=1... what if P/BV becomes 1.5? you calculate yourself... dividend yield is nice... every year pay out 2 to 2.5sen dividend, dividend yield is around 4.8% (assume 2.25sen dividend)... fundamental wise... no complaint at all....

more to come, definitely... as more PAN BORNEO projects have been announced recently...

key words from the prospect section in Q1 2017 report:
we expect positive contributing results
from our new thrust and strategies implemented over the past year. 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