Ha ha! someone using another ID to defend & promote. Save ur 2 cents loh because someone shouted he bought a lot before and today so I mark it down first loh. If not later like that coward Dolly removed own comments like last time. LOL:


stockraider No need to argue....General raider quietly collecting at Rm 0.935 loh...!!
General Raider believe evergreen great prospect mah...!!
24/01/2017 10:09


stockraider RAIDER COLLECTED 40K OF EVERGREEN AT RM 0.935....STILL COLLECTING LOH...!!

EVERGREEN IS THE BEST INVESTMENT LOH.....!!
24/01/2017 15:53


stockraider Collected another 30k at Rm 0.93 loh.....!!
Now all the Rm 0.935 all taken out loh...!!
24/01/2017 16:18

Ha Ha!! Hevea's capex since 2012 has produced increasing profit margins and amassed enormous cash-pile at RM 109,790,000 now. What about Evergreen spent on capex for years also have unstable profit margins. That shows inefficient management loh. I think Dolly needs to borrow balls from stockraider loh. Valentine's day coming & u both can hug until Evergreen collapse while Hevea climbing ever higher.

If u don't understand then it is hard to even talk to u. It does not matter how high the shareholders fund is. If the balance sheet is not well managed in business terms then the company's share price is going to descend non-stop. Just look at the share price trend.

If the Evergreen company not able to pare down it's giant debts which stood at RM 216.585m then it is no good to invest in it. Obviously it has to have good earnings in Net Profit just to pare down debts and increase cash holdings. If it cannot earn more money then the cash balance will always not enough to service long-term debts and other expenses and trade expenses.

U can see that the company is actually borrowing from banks just to fund it's operations and capital spending on expansion. That expansion is not done well because u can see it from the profit margins perspective and falling Net profits for 5 consecutive quarters. It borrowed heavily in previous few quarters and now amassed a huge debts.

I believe Hevea is going to reward shareholders through the "internally generated funds" exercise to fund the new land purchase while re-adjust the share price consequently. A rewarding exercise to be announced soon.

New land acquisition purchase price: RM 13,463,350.40 (#This is peanuts for Hevea)

The new acquisition will be funded through...
Internally Generated Funds : RM 4,442,905.63 (33%)
Borrowings : RM 9,020,444.77 (67%)

Hevea's latest quarter report announced on 22 Nov 2016.
CASH AND BANK BALANCES 109,790,000
LONG TERM BORROWINGS 6,947,000
SHORT-TERM BORROWINGS 8,164,000
Total debts: 15,111,000
Cash - Total Borrowings = 94,679,000 (*NET CASH POSITION)


RM 15,111,000 + RM 9,020,444 = RM RM 24,131,444 (New total borrowings soon)

RM 109,790,000 (TOTAL CASH) - RM 24,131,444 (NEW TOTAL DEBTS SOON) = RM 85,658,556 (NEW CASH BALANCE after new land acquisition)

For the "Internally generated funds" portion of funding, u take:

RM 4,442,905 / 507,151,890 (Hevea shares in circulation) = RM 0.0088
WOW! Not even reaching RM 0.01 per share to fund it? It's peanuts for Hevea's financial might! LOL

WOW. HEVEA STILL IN NET CASH POSITION & NO GEARING AGAIN. This land acquisition & expansion is really peanuts for Hevea. Still have lots of cash on hand.

Paid a premium just to have the ease of doing business and expansion at the exact same location which is just next to the current factory location. Pavilion's Desmond Lim paid even a whooping premiums for a land adjacent to the Pavilion BB for future expansion. I see high synergistic potentials out of this land purchase while it's balance sheet still remain solid.

REAL FACTS:

EVERGREEN
Financial quarter 30 Sep 2015: Net Profit 27,586,000
Financial quarter 31 Dec 2015: Net Profit 21,029,000
Financial quarter 31 Mar 2016: Net Profit 20,619,000
Financial quarter 30 Jun 2016: Net Profit 16,459,000
Financial quarter 30 Sep 2016: Net Profit 16,880,000

27.586m + 21.029m + 20.619m + 16.459m + 16.88m = 102.573m

102.573m / 5 = 20.5146m median average of NP for latest 5 quarters

RM 216,585,000 (Total debts) / RM 20,514,600 (NP: Median average) = 10.5x times

That means Evergreen needs at least 10-11 quarters or more just to break-even with the total debts while most competitors are already in net cash position! I have not taken into consideration of the interest charges of the giant debts over RM 216.585m so it will definitely take longer than 12 quarters just to break-even with that mountains of debts.

12 QUARTERS = 3 YEARS needed to break-even with giants of debts. That's if they do everything right & net profit does not fall further per quarter. Remember that it's NP has been falling for 5 consecutive quarters!

*Long-term borrowings interest: If based on 6.85% interest rate. RM 108,952,000 x 6.85% p.a. = RM 7,463,212 p.a.

(RM 7,463,212 p.a. / 12) x 3 months = RM 1,865,803 interest payment to banks per quarter. This will add up to the NP be reduced further hence longer period or more quarters just to break-even with the giant debts!

Accounting? U better open ur eyes bigger and look exactly just the figures in the quarterly reports whether the balance sheet is not debt-laden. How much Evergreen needs to earn per quarter just to pare down and offset the giant debts? When most other competitors or related companies pare down gearing and reducing debts, most conserve cash during bad economic climate while Evergreen had been embarking the expansion capex stories for years already. So what is it the company not getting it right until profit margins become unstable? If CAPEX is done right, profit margins should be steady going up and not going negative.

Post removed.Why?

Post removed.Why?

Short-term borrowings MUST be settled by next quarter release. Be careful and remember I've warned u loh.

The coming quarter is NO JOKE. Check their balance sheet.

Evergreen's latest quarter report announced on "28 Nov 2016":
CASH AND BANK BALANCES 141,018,000
LONG TERM BORROWINGS 108,952,000
SHORT-TERM BORROWINGS 107,633,000

RM 141,018,000 - RM 107,633,000 - (*RM 1,865,803) = RM 31,519,197

*Long-term borrowings interest: If based on 6.85% interest rate. RM 108,952,000 x 6.85% p.a. = RM 7,463,212 p.a.

(RM 7,463,212 p.a. / 12) x 3 months = RM 1,865,803 interest payment to banks.

Have not taken other expenses into calculation yet.

CASH AND BANK BALANCES: 31,519,197
LONG TERM BORROWINGS 108,952,000
SHORT-TERM BORROWINGS: 0.00

Very high chance it will borrow more money to fund capex and to sustain high borrowings and operations. Net profits falling with unstable profit margins.

WOW so much less cash soon! This is alarming because only Evergreen has the highest totals debts and more importantly it has the highest SHORT-TERM DEBTS. SYF and LATITUDE both have RM 64,543,000 and RM 67,797,000 short-term debts respectively ranked 3rd and 2nd.

Dolly zai, why u so worry? Evergreen is weak & soft, u either get stuck for a long time or u can jump to Hevea loh. Do the smart move. LOL

Dolly zai, why u so worry? Evergreen is weak & soft, u either get stuck for a long time or u can jump to Hevea loh. Do the smart move. LOL

Dolly zai, u want to know why Evergreen is going down? U just have to ask me nicely.

Quarter_4 result will be released soon in 4-5 weeks time. U should start to worry because it's balance sheet will definitely have more cash balance reduction and most probably borrowings will increase. The need of more borrowings is for further capital-intensive agenda and to service the long-term debts which stood at RM 100m+. I've spotted the sudden jump in borrowings last quarter which added up the cash balance so that is not organically grown cash-pile. Check back and u will know!

When these losers stuck, they will just do the self-comforting meditation LOL

Evergreen is collapsing. Pity those who stuck with it.

Dolly zai, have u responded to my questions as well? That serves u right! Ha ha !

WOW loser coming out & speak empty. What is the content of ur post? It's empty nothing useful. Evergreen is becoming a Rubbish stock. Look at how it falling lower each day. Reaching new low soon.

WOW Hevea so strong climbing. How is Evergreen? LOL

Told u it follows downtrend. Now that it falls lower each day and none of u dare to talk good about Evergeen anymore. Typical losers:
Evergreen5101
Dolly_chai
Stockraider

Running out of cash and business sales not good so it will borrow more money again. Be careful!

It's finished! Will go lower tomorrow

Stockmanmy, that ignorant stockraider is just cheating himself everyday. The obvious facts also he choose to deny and talk nonsense everywhere. He must have some mental issues.

Evergreen's latest quarter report announced on "28 Nov 2016":
CASH AND BANK BALANCES 141,018,000
LONG TERM BORROWINGS 108,952,000
SHORT-TERM BORROWINGS 107,633,000

RM 141,018,000 - RM 107,633,000 - (*RM 1,865,803) = RM 31,519,197

*Long-term borrowings interest: If based on 6.85% interest rate. RM 108,952,000 x 6.85% p.a. = RM 7,463,212 p.a.

(RM 7,463,212 p.a. / 12) x 3 months = RM 1,865,803 interest payment to banks.

Have not taken other expenses into calculation yet.

CASH AND BANK BALANCES: 31,519,197
LONG TERM BORROWINGS 108,952,000
SHORT-TERM BORROWINGS: 0.00

Very high chance it will borrow more money to fund capex and to sustain high borrowings and operations. Net profits falling with unstable profit margins.

WOW so much less cash soon! This is alarming because only Evergreen has the highest totals debts and more importantly it has the highest SHORT-TERM DEBTS. SYF and LATITUDE both have RM 64,543,000 and RM 67,797,000 short-term debts respectively ranked 3rd and 2nd.

I hid what? Maybe u should see what is coming real soon. The short-term debts MUST BE SETTLED in the next quarter report release. No other ways. Stupid Dolly still argue. LOL

Thanks chompks and u are correct!

For financial year 2016, there is ONE quarter left (Q4) and plz see in the latest report that Evergreen has SHORT-TERM BORROWINGS amount of RM 107,633,000 which MUST BE SETTLED by latest quarter so the CASH will be draw down substantially.

141,018,000 (CASH) - 107,633,000 (SHORT-TERM DEBTS) = RM 33,385,000 (CASH amount soon by end of next quarter release)

So when cash amount is down so much next quarter release then logically it will raise more borrowings because it still has LONG-TERM DEBTS of RM 108,952,000 and less cash on hand. Bad times ahead.

Read...

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=77286&name=EA_GA_ATTACHMENTS

3. RATIONALE
The Land will be utilised for building of additional factory premises and production facilities to cater for new projects and increasing production demand. The strategic location of the Land which is next to HeveaPac’s existing manufacturing plants will facilitate resources sharing and synergise production capacity.
The acquisition of the Land will enable the Company, through its subsidiary HeveaPac, to progressively expand its production capacities for meeting the current and future growing demand for its products.


#That saves a lot of logistic costs and boost capacity at "ONE LOCATION" because the land is right next to current factory! WOW! Pay premium price also nevermind loh since we get to expand just next door. Stockraider, u better collect Hevea's shares to recoup ur losses in debt-laden Evergreen loh.

WOW

New acquisition purchase price: RM 13,463,350.40

The new acquisition will be funded through...
Internally Generated Funds : RM 4,442,905.63 (33%)
Borrowings : RM 9,020,444.77 (67%)

Hevea's latest quarter report announced on 22 Nov 2016.
CASH AND BANK BALANCES 109,790,000
LONG TERM BORROWINGS 6,947,000
SHORT-TERM BORROWINGS 8,164,000
Total debts: 15,111,000
Cash - Total Borrowings = 94,679,000 (*NET CASH POSITION)


RM 15,111,000 + RM 9,020,444 = RM RM 24,131,444 (New total borrowings soon)

RM 109,790,000 (TOTAL CASH) - RM 24,131,444 (NEW TOTAL DEBTS SOON) = RM 85,658,556 (NEW CASH BALANCE after new land acquisition)

For the "Internally generated funds" portion of funding, u take:

RM 4,442,905 / 507,151,890 (Hevea shares in circulation) = RM 0.0088
WOW! Not even reaching RM 0.01 per share to fund it? It's peanuts for Hevea's financial might! LOL

WOW. HEVEA STILL IN NET CASH POSITION & NO GEARING AGAIN.

Evergreen earns RM 16.88m net profit (NP) in latest quarter. The highest NP per quarter recorded at RM 27.586m but that is a one-time.

EVERGREEN
Financial quarter 30 Sep 2015: Net Profit 27,586,000
Financial quarter 31 Dec 2015: Net Profit 21,029,000
Financial quarter 31 Mar 2016: Net Profit 20,619,000
Financial quarter 30 Jun 2016: Net Profit 16,459,000
Financial quarter 30 Sep 2016: Net Profit 16,880,000

27.586m + 21.029m + 20.619m + 16.459m + 16.88m = 102.573m

102.573m / 5 = 20.5146m median average of NP for latest 5 quarters

RM 216,585,000 (Total debts) / RM 20,514,600 (NP: Median average) = 10.5x times

That means Evergreen needs at least 10-11 quarters or more just to break-even with the total debts while most competitors are already in net cash position! I have not taken into consideration of the interest charges of the giant debts over RM 216.585m so it will definitely take longer than 12 quarters just to break-even with that mountains of debts.

12 QUARTERS = 3 YEARS needed to break-even with giants of debts. That's if they do everything right & net profit does not fall further. Remember that it's NP has been falling for 5 consecutive quarters!

How much is the interest charges of the giant 216.585m debts? WOW Go figure.

So if Evergreen needs to de-gear & achieve net cash position, it needs 10 to 14 quarters! That is 2-3 years just barely achieve net cash like Hevea & many other competitors. Also interest charges of the borrowings are eating Evergreen's cash-pile so this might push it to 3-4 years just to achieve net cash position. WOW

Evergreen's latest quarter report announced on "28 Nov 2016":
LONG TERM BORROWINGS 108,952,000
SHORT-TERM BORROWINGS 107,633,000
Total debts: 216,585,000 (*NET DEBTS POSITION)

Don't play-play oh, Evergreen has giant of debts is real problem (committed & obliged). U better tell Evergreen management to focus & reduce debts oh if not they will take more debts. Fix their five consecutive quarters of falling profits & unstale profit margins. Oh wait, I forgot Evergreen doesn't have enough money to give dividends. This is a norm culture of Evergreen, right? Halted dividends since year 2012.

Hevea expanding while having lots of cash & no gearing. WOW Hevea's share price moving upwards on uptrend. How is Evergreen doing?

This stockraider is stuck in Evergreen bah that's why he make unreal assumptions everyday. Should learn from me to use factual evidence to back-up any claims. Told him to buy Hevea loh. LOL

Many companies done so. IOIPG, HIL, etc. Important is be transparent which is what HEVEA has done so because nothing dodgy in the deal mah. Don't do things like certain politicians/bankers until public found out. Clean and transparent mah.

Why talk like that leh? Be gentleman mah. Did u see me scold like that ever? I talk about the companies only. Focus mind. Why is there dog shit comes out from u? I frowned upon ur behaviour this Evergreen5101. LOL

Strategy talks can be overwhelmingly wonderful but it is the EXECUTION that is CRUCIAL. All other competitors have done very well in executing strategies. Just answer this urself & u don't have to reply me.

WHY FOR YEARS EVERGREEN SPENDING ON CAPEX BUT PROFIT MARGINS ARE SUBDUED & UNSTABLE OVER THE YEARS???

Below as indicated are the round-up of EVERGREEN and HEVEA profit margin:

EVERGREEN
2012: 3.2%
2013: -4.5%
2014: 0%
2015: 9.1%
2016: 7.3%

HEVEA
2012: 4.1% (Hevea's RTA segment started operation in early of 2012)
2013: 5.7% (Continuation of CAPEX throughout the year for more automation for RTA)
2014: 7.2%
2015: 14.7%
2016: 13.3%

Strategy talks can be overwhelmingly wonderful but it is the EXECUTION that is CRUCIAL. All other competitors have done very well in executing strategies. Just answer this urself & u don't have to reply me.

WHY FOR YEARS EVERGREEN SPENDING ON CAPEX BUT PROFIT MARGINS ARE SUBDUED & UNSTABLE OVER THE YEARS???

EVERGREEN's Profit Margins:
2012: 3.2%
2013: -4.5%
2014: 0%
2015: 9.1%
2016: 7.3%

Quarterly profits have been sliding down and so does the share price. That is obvious. Not to mention last dividend payout was in 2012 and halted for years then in beginning of 2016 just gave out RM 0.01 sen? Big joke! No more dividends will be given out for years to come because it has giant debts of RM 216,585,000.

Evergreen's latest quarter report announced on "28 Nov 2016":
LONG TERM BORROWINGS 108,952,000
SHORT-TERM BORROWINGS 107,633,000
Total debts: 216,585,000 (*NET DEBTS POSITION)

So much losses??? U should expect bad quarters eating into current cash balance and most likely will have to borrow more debts. Check properly before u shoot me.

EVERGREEN's Annual Report 2015, Page 20:
3) Relocation / refurbishment of Medium Density Fibreboard Plant in Masai, Johor which is currently having losses on the depreciation cost of its assets, will be refurbished and relocated to Segamat, Johor and this will contribute to the Group’s revenue and profits towards the tail end of 2016.

EVERGREEN's Annual Report 2015, Page 20:
4) Upgrade of our Particle Board Plant in Segamat is on-going. Currently the plant is in an idle state and incurred losses on the depreciation cost. Once upgrading works are completed, this plant will contribute positively to the Group’s revenue and profits in 2017.

EVERGREEN's Annual Report 2015, Page 20:
".....disruptive demand for our products due to political turmoil in particular the Middle East and possible financial disruption...."

Tell u a "secret point" & u should be awaken after u read. Since Evergreen's 80% revenues are from MDF segment so THAT IS THE REAL REASON WHY EVERGREEN's PROFIT MARGINS ARE SUBDUED & NOT STABLE OVER THE YEARS. Due to MDF not able to give the company higher profit margins, Evergreen has to embark & venture into other product segments especially RTA and particleboard again.

Plz note that Evergreen is "RESTARTING" the particleboard segment after years of suspension. Why is that so? The story dates back to years ago when it decided to focus mainly on MDF segment and chose to suspend particleboard segment. Little did they know that they have became "OVER-RELIANT" over the years mainly on ONE product segment and this is RISKY and not diversified hence it is susceptible to price fluctuations of MDF in the world market bids pricing.

EVERGREEN's Annual Report 2015, Page 17:
".....Our Particle Board plant remained idle since 2013..."

EVERGREEN's Annual Report 2015, Page 19:
".....The upgrading of the Particle Board Press will enable us to produce premium particleboards for specific markets of higher profit margin...."


That naturally killed Evergreen's competitive edge against it's well-rounded competitors because of non-diversified product segments.

1) NO DIVIDENDS SINCE 2012 so not good to hold long-term. Evergreen is already STINGY and NOT GENEROUS. WOW 3/4 years also so stingy. Don't think they will give out dividends with giant of DEBTS right now, check:

Evergreen's latest quarter report announced on "28 Nov 2016":
CASH AND BANK BALANCES 141,018,000
LONG TERM BORROWINGS 108,952,000
SHORT-TERM BORROWINGS 107,633,000
Total debts: 216,585,000
Cash - Total Borrowings = -75,567,000 (*NET DEBTS POSITION)
No. of shares in circulation: 846,423,985 shares
-75,567,000(Net debts) / 846,423,985 shares = *Worth approx. RM (-0.089) per share


2) FIVE CONSECUTIVE QUARTERS OF FALLING NET PROFITS, check:

Hevea
http://www.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=5095
Evergreen
http://www.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=5101


3) PROFIT MARGINS ARE HALF OF HEVEA, check the above links.

4) WHY EVERGREEN's PROFIT MARGINS FLUCTUATE SO MUCH AFTER YEARS OF CAPITAL EXPENDITURES (CAPEX)??? Below as indicated are the round-up of EVERGREEN and HEVEA profit margin:

EVERGREEN
2012: 3.2%
2013: -4.5%
2014: 0%
2015: 9.1%
2016: 7.3%

HEVEA
2012: 4.1% (Hevea's RTA segment started operation in early of 2012)
2013: 5.7% (Continuation of CAPEX throughout the year for more automation for RTA)
2014: 7.2%
2015: 14.7%
2016: 13.3%

5) OVER-RELIANT ON ONE PRODUCT SEGMENT THAT IS MDF. WRONG TIME TO DO EXPANSION. INTEREST RATES WILL INCREASE SOON AND IT'S HEFTY DEBTS ARE EXPENSIVE TO SERVICE. Latest recorded revenues by segments of both companies:

EVERGREEN
Medium density fibreboard (MDF): 80% of revenues contribution
Value-added MDF: 15% of revenues contribution
Ready-to-Assemble (RTA): 5% of revenues contribution

HEVEA
Particleboard: 40% of revenues contribution
Ready-to-Assemble (RTA): 60% of revenues contribution

No made-up stories but all factual data taken out from quarterly & annual reports and newspiece. Plz interpret any reports correctly before u shoot ur guns, Dolly zai.

Look at the above figures, that is a good indication of whether the management or company as a whole are "effective" or "efficient" during CAPEX period. How come other companies like Hevea, Mieco and Pohuat also have CAPEX for years and profit margins keep climbing? What about Evergreen? Answer is obvious!

WHY EVERGREEN's PROFIT MARGINS FLUCTUATE SO MUCH AFTER YEARS OF CAPITAL EXPENDITURES (CAPEX)??? Below as indicated are the round-up of EVERGREEN and HEVEA profit margin:

EVERGREEN
2012: 3.2%
2013: -4.5%
2014: 0%
2015: 9.1%
2016: 7.3%

HEVEA
2012: 4.1% (Hevea's RTA segment started operation in early of 2012)
2013: 5.7% (Continuation of CAPEX throughout the year for more automation for RTA)
2014: 7.2%
2015: 14.7%
2016: 13.3%

U stressed out that u are "optimistic" is not enough in the investment world. I can be optimistic with over 500 companies in Bursa....that does not mean or translate into a sure win situation.

Hevea's Annual Report 2015, page 3:
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5079141

Our Ready-To-Assemble (“RTA”) furniture sector had also contributed significantly to the Group. With the additional capital expenditure (“CAPEX”) towards upgrading, we were able to further achieve higher automation and a wider range of higher value product diversifications. With that strategic move, we expect to be able to mitigate the labour cost increase and continue to contribute additionally to the Group. The RTA sector had registered a 15.5% revenue growth to RM293.0 million in
FY 2015, up from RM253.6 million in FY 2014 and a PBT of RM40.3 million in FY 2015, as compared with RM19.9 million in FY 2014, an increase of 102.5%

Evergreen's Annual Report 2015, page 17:
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5070781

On a longer term Strategy, the Group will be focusing on increasing its production volume for its Ready To Assemble (RTA) Furniture Products as this will enable us to have a wider range of premium products that is able to fetch a higher profit margin on its designs and quality.

Eh....Dolly lastly wrote this line:

"they are also building more RTA lines which will command better margin... "
19/01/2017 15:12

Dolly zai, let me refresh ur memories with these again which u denied in the past and sadly currently: