Sold just now. Sad, total loss few thousands, this company really can't perform. If the directors really capable, salted fish also can survive now but the result not good and the share price keep pushing down non-stop. Goodbye Luster.

Project must realize to be profit, otherwise just talk no use. I am so sad that the management not really aggressive like Penta.

@kingoreng, not lost money, but waiting is the critical problem during bull market when u see other tech stocks shoot to sky but this comp still sleeping or even drop further by this bad result

AT already start running operation, but this company still has not sign S&P for the land acquisition, how long it still want to drag ? After sign S&P, build factory and set-up machines, does it still can sell gloves at a good price? or during that time glove makers starting price competition or price war?

This company really make me disappointed, no wonder i feel uncomfortable whenever the price up, some ppl will throw the share down, it just want to make all the small shareholders die

The Mexico plants has been delaying quite long, why still no shareholders screw the management? why still accept the management keep giving many excuses on this ?
Imagine if you continue delay your works at company, continue give many excuses, what will your manager look at you? Is your manager still smile to you or screw you ?

This company make me sad when Nice and Muiprop fly to sky last week, this Bahvest just up little. However, when market drop, Bahvest drop a lot... will sell it when it rebound, really disappointed... Last week if I choose Nice not Bahvest, I earn at least 300%....

dividend lower maybe due to two scenario: first is PAT lower than 10 million, another scenario is Johotin keep more cash to buy land. First scenario may be due to higher raw materials price so lower PAT. If second scenario, Johotin want to keep more cash for next expansion (buy land and build a new plant), so temporary won't be high dividend payout company.

Japan Olympics is a short term effect, in long run, Hevea must expand its business to other countries as much as possible, can not heavily depend on Japan and China markets. For mushroom side, i don't think we can see the profit soon.

we should not wait for mushroom, the main contributors is RTA and particleboard, especially RTA sector. If RTA's sales increase, it can boost particleboard sector too.

why no people talk about local F&B capacity expansion (30%)? is the new capacity already operated or still in progress?

since US increase tariff of China's furniture and RTA products, why Hevea not try to sell their RTA products to US? Anyone know what happen?

what happen to RTA segment ? Q1 earn PBT 6.467 million but Q2 loss 537k, sales drop from Q1 78.6 million to Q2 55.68 million, is it really low season in Japan? The explanation too short, lack of information to further analyze.
Luckily Particleboard recover from loss 2.25 million to earn 2.03 million in this quarter.
YHC must improve RTA sales, otherwise only depend on 1 segment profit will not get good result.

@VincentTang, why OTB not mention about Q3? Base on quarterly report, Q3 gain of disposal PPE only 242k, Forex gain is 148k but net profit is 4.55 million. Let's see Q4 result in May.

Yes, @Torreira, i believe as long as Hevea get more business orders from Japan, RTA segment can digest the capacity of Particleboard segment. Then both RTA and particleboard can contribute profit to Hevea. Don't hope mushroom, it is not realistic to contribute profit in this year.

Mushroom not so fast, i don't expect it can contribute until 2020 or even further because too many issues need to be solved like build up brand name, market distribution, low volume and high depreciation, start-up cost, improve quality, improve yield, improve efficiency, cost efficiency and etc.

mushroom business won't give any surprise, may be break-even or still loss a bit. Particleboard segment may be slightly impacted by price war. Labour issue solved should improve RTA segment, hope it can provide good result.

Mexico plant delay 3 months, a bit disappointed. Good news is local plant increase capacity, looks like even though free up ~20% local orders to Mexico plant, management still think that they can capture more sales. Hehe... Let's see whether the management can make it or not.

New Foreign workers joined Hevea at end of June, if training 2~3 months, Q3 didn't see the improvement of RTA is within my expectation. However, if Q4 RTA result still not improve, then we should question management whether they give misleading information. So, Q4 result is critical because it will shows whether foreign workers' issue has been solve or not and whether it can improve RTA result or not.

@stock_invstor, Johotin is selling its own brand milk powder, so need more time to promote to customers because still less people know their products.

Don't forget this quarter selling and distribution cost is lower about 2.2 million, next quarter this cost may back to normal.

What is the higher margin products? is it milk powder or condense milk?

Looks like new plant confirm operate in Dec 2018, need to wait for another 6 months to enjoy the fruits of expansion.

Anyone know latest info of the 2 new plants status? Thanks.

Thanks, @CY1214. Do you know when the Mexico plant can start operation? Do they have any plan to increases the utilization rate from 30% to even higher for the milk powder plant because 30% may not contribute profit to company? Thanks again.

i agree with @nellsonspicy, the PE not high. However, I think the management hide too many information about the expansion, the new plant, the operation issues, so, better go to their AGM to ask for explanation before invest or top up.

Looks like quite many people have the same concern, why SCGM capacity increase so much but sales didn't improve. If lunch box's sales is increasing, but overall sales maintain, is it means that other products sales volume drop or market share drop?
if look at the past few months share price collapse, it means that some funds already know the problems of SCGM so sold out but the management still not tell the truth to retails shareholders?

Not really, the management said some products selling price has been adjusted, this may help to maintain profit margin.

In addition, pls help to question management, if new plant still not contribute, why still spend 14 million to build new plant which expect to complete in Q4'2018? It is ridiculous.
Last question is Mexico JV, what is the status?
I also not able to attend the coming AGM.

Base on the result, the worst condition is over, the profit back to normal. However, i still want to ask the management, how long we still need to wait the expansion's fruits? Is the new plant (milk powder) still not contribute profit?

@mlim, do you plan to attend this coming AGM?
For accounting problem, i also want to know what happen.
In my opinion, i don't think expansion is fail but the expansion is slower than my expectation at least half year, need the management to explain.
In addition, phase 1 still not running full capacity and phase 2 commercial run in Q3, is the management able to get more customer orders? Otherwise the depreciation charges, overheads and start-up cost will be very high. This is my concern too.

it is tax incentives help, i still prefer operation can make profit. Moreover, Q4 sales drop is not a good sign. I hope the management can boost the sales since new plant phase 1 is full commercial run now.

too far for me to attend, yes, someone pls bring the questions to the board and record down their answers.

@sapurakencana, can you represent us to attend AGM? we really need some shareholders to bring the questions to the management, otherwise they will continue ignore us.
The main concern is why Johotin keep expand (build another new plant but existing new plant still not contribute) but no improvement of the net profit? Can management retain the cash or payout as dividend instead of keep build new plant which may not utilize or contribute to net profit?
Anyone will attend the coming AGM?

@Fabien Extraordinaire, SCGM local contribution is 61%, which mean strong RM will help during purchase resin. The problem is oil price (resin) continue increase and start-up cost of new plants are the problems.

AWARD OF CONTRACT FOR THE CONSTRUCTION OF 1 UNIT OF 1 STOREY FACTORY

why build another factory when existing new factory still not fully utilize and not contribute?

If drop back to 90 cents, for those long term investors who bought in since Sept 2016, it just become a dream, not earning a single cent from capital gain. Please go to AGM questions the management what they did for past 1 and half year. I propose reject their directors fee in AGM.

5 years spend 82 million still can not contribute revenue and profit, it is too long. Normally other company's expansion just need 2~3 years to contribute sales & profit.
Next quarter, lower raw materials price, doubtful deb have been settled, no more reversal of disposal gain, local sales of dairy products start contribute. The revenue & profit should up.

Risks: new plant overheads, new plant & equipment depreciation charges, selling & distribution cost increase, salary increase. (hopefully these factors won't impact much to profit)

IF the profit still not improve, it does not consider growth company anymore. Who know we still need to wait how many years to see the growth.

@sapurakencana, i agree with you, if the doubtful debts come back in next quarter, it will impact the net profit again. I notice that the management always give this kind of unexpected and unacceptable reasons (reverse of disposal gain & doubtful debt & products quality issue) when the result is bad.
I will continue monitor one more quarter, if the management still give unacceptable reasons, i will cut it.

@sapurakencana, may be company used Q3 or Q2 high price raw materials to make their end products, so the margin drop. Q4 low raw materials price may be reflected in Q1/Q2 2018. So, let's see the May result.

The worst case is we need to wait until Feb 2018. So, we need holding power to keep for few months.

anyone know when is the commencement date of the 8 new product lines? Thanks.

Agree with ChrisYF. In my opinion, the sales should be continue to increase but the fact is the sales has stagnant at 52~53 million now. SCGM does not realise what the management mention before. Disappointed with the management capability now and running out of patience too

If no more provision of doubtful debts in Q4 then the profit will be 8 million + 3~5 million. Moreover, Johotin has started it local sales in Q3, this is another interesting part. Hopefully it will be colourful result. This morning the share price really attractive.

thank you so much, @singh1

Is it due to earnings not sustainable so investors don't like? foreign exchange gain, investment securities, less trading volume in Malaysia (broking segment), one-off gain on land disposal, all these may not continue in next year, so, next year profit may not as good as this year. Thus, investors may avoid to invest in this type of company.

@LuckyG the report does not mention the exact amount of allowance for doubtful debt, so you should not simply add in back to net profit. Anyway, my main concern is will this allowance for doubtful debt continue to happen in Q4?

The capacity installed in April'17 "may be" reflected in Q4 2017, additional capacity to be completed in Q1 2018, it looks like FY2018 result would be impressive.

we should aim for this "Nestle launches global procurement hub" . Hope Tomypak can get some orders from Nestle global procurement hub
https://www.thestar.com.my/business/business-news/2017/11/23/nestle-launches-global-procurement-hub/

a gently remind, if your buy warrant u have to convert it immediately because it is going to expire. If you not plan to convert the warrant, pls don't buy because the warrant will burn after expire.