Well u r unable back up ur prediction therefore it cannot be taken seriously, in tht case thn why bother posting it

can u be more specific? give specific measures pls

"Will show strong rebound to at least 70c soon" how do u know? based on what u say so?

Hotrod,

It dosnt make sense, if the report is going to be saying good stuff, they should dispose AFTER the report is published and not before

■ FY15 core net profit of RM96m was in line at 96% of our full-year estimate.
■ Final DPS of 1 sen declared, as expected. It announced a dividend policy of at least
25% payout from FY16.
■ Excellent buying opportunity, as concerns over impairment loss are overdone.
■ Potential special dividend if the sale of non-core assets materialises this year.
■ Maintain Add rating. A potential catalyst is continued ringgit weakness.
Operationally no surprises
Revenue and core net profit tracked expectations on a stronger dollar, and lower log and
glue costs. In addition, the internal restructuring efforts also resulted in cost savings.
This resulted in gross margin improving from 25% to 36% in FY15 vs. FY14. For 4Q, its
power plant in Thailand was shut down for two months for refurbishment of the boilers,
which resulted in RM2m in “loss profits” from the sale of steam and electricity to the
Thailand MDF plant.
Exceptional items
An impairment loss of RM3m was taken against its Masai plant and PB plants. We deem
this as non-core. Thus, FY15 core net profit to RM96m was in line at 96% of our full-year
estimate.
Balance sheet and dividends
EVF’s balance sheet remains healthy as net gearing fell from 26% to 8% after the
private placement exercise. EVF has resumed its 25% dividend payout policy from
FY16. Recall that it had suspended its dividend policy during the difficult years. The
resumption of the dividend policy provides positive signal value to shareholders, in our
view.
Concerns about impairment loss are overdone
EVF lost about RM170m in market capitalisation (c.20sen/share) in the few days before
the results announcement on concerns about the size of the impairment losses. We view
the market’s reaction as overdone and unjustified. At only RM3m (multiplied by 12.5x
P/E), these impairment loss should only have had a RM38m impact (c.4 sen/share).
EPS and target price tweaked
We cut our FY16-17F EPS by 2% for housekeeping and update of balance sheet. Our
target is lowered accordingly, still based on FY17 P/E of 12.5x (sector average). We
maintain Add rating.
Excellent buying opportunity
We believe that the recent share price weakness was driven by the strengthening of the
ringgit and concerns about the impairment losses. The current weakness is an excellent
buying opportunity as 1) our forecasts are based on RM/US$ exchange rate of 4.00 vs.
4.20 currently. Every 1% depreciation increases FY16 EPS by 10%; and 2) the
impairment loss was very small and we deem it non-core.

380 mil shares is bonus issue but did u notice the share price adjusted? tht means their total number of shares may have increased but their value is still the same. Ok!?

ryong, that stop of foreign worker implies future workers. the foreign workers needed by the company are already in the country and are working daily. use brain pls

Well thanks for the advise, fortunately ive been in the market long enough to see that sort of 'advise' as doing the opposite of what ur encouraging.