Posted by abang_misai > 2019-03-03 12:07 | Report Abuse

Its earning is nothing compared to Dayang. To move like a rocket, you will need a "wow" result.

Posted by newbie911 > 2019-03-03 12:15 | Report Abuse

Is dayang business as stable as yocb?

Posted by (S = Qr) Philip > 2019-03-03 12:32 | Report Abuse

Can yocb compete with taobao and Lazada? If Chinese textiles and fabric start to come in and fight your market, do you think yocb can survive?

Posted by qqq3 > 2019-03-03 12:36 | Report Abuse

(S = Qr) Philip Can yocb compete with taobao and Lazada? If Chinese textiles and fabric start to come in and fight your market, do you think yocb can survive?
======

u put it like that everybody also die la, no need to do business.

Posted by abang_misai > 2019-03-03 12:53 | Report Abuse

Very sharp observation.

Posted by (S = Qr) Philip > Mar 3, 2019 12:32 PM | Report Abuse

Can yocb compete with taobao and Lazada? If Chinese textiles and fabric start to come in and fight your market, do you think yocb can survive?

Posted by newbie911 > 2019-03-03 13:09 | Report Abuse

Abang misai, u think kwap stupid annd u much more clever?

Posted by (S = Qr) Philip > 2019-03-03 13:15 | Report Abuse

Its a basic fact, that's why Amazon is priced so high.

Why do you think all the shares I buy are in industries which cannot be disrupted easily by online business trading models?

Tabao doesn't sell fresh chicken, petrochemicals, and you won't want to buy medical gloves and condoms online.

But bedding products and bedsheets anyone with time and money can source out from China and sell it locally.

Just ask Parkson.

Or your wife. When they say it comes from China, really in the future no need to do business if can but direct from factory.

If you tell me yocb weaves it's own cotton and silk and design and produce it's own products which can compete with cons imports then obviously different story.


>>>>>


u put it like that everybody also die la, no need to do business

Posted by Heavenly PUNTER > 2019-03-03 13:16 | Report Abuse

Philip, I for one would buy condom online, if it's Durex why not? No more the hassle of getting embarassed paying for it at the counter.

Posted by qqq3 > 2019-03-03 13:29 | Report Abuse

philips.............I don't want to argue with u but taobao /alibaba is not going to monopolise this business any time soon...........
Its not an easy business.........but this company is doing very well with high margins , I think they can be congratulated, not necessary I buy the shares.

Posted by moolala > 2019-03-03 13:32 | Report Abuse

Lazada and taobao have been around for quite some time now, if there are superior products at better price I'm sure YOCB would have closed shop long time ago, moreover if you look into their annual reports, their main revenue generator is supplying to hotels, army, cruise ships and other hospitality industries. Their home harmony shops generating good revenue too.

Posted by qqq3 > 2019-03-03 13:40 | Report Abuse

2018 very bad year for small caps..last 2 months small caps doing well.

Posted by Choivo Capital > 2019-03-03 14:12 | Report Abuse

I own a little.

Phillip, let me ask you. How does one go about buying a mattress, pillow, bolster, bedsheets etc in Malaysia, or even globally.

If you understand this, you will like it more. Im thinking of expanding it from the current 1% to 3%.

Posted by Choivo Capital > 2019-03-03 14:13 | Report Abuse

Do note, i dont really care about next q, im looking at the next 5 years etc.

Posted by Icon8888 > 2019-03-03 14:14 | Report Abuse

he has been saying that from success transformer, pantech and now to YOCB... that is why I found his comments becoming meaningless....


Posted by qqq3 > Mar 3, 2019 12:36 PM | Report Abuse

(S = Qr) Philip Can yocb compete with taobao and Lazada? If Chinese textiles and fabric start to come in and fight your market, do you think yocb can survive?
======

u put it like that everybody also die la, no need to do business.

Posted by Icon8888 > 2019-03-03 14:17 | Report Abuse

you have to bear in mind that tabao , lazada etc has been in operation for long time already. they are not something new.

whatever negative impact they have, the Malaysian companies have been surviving and thriving.

so it is meaningless to keep referring to them every time we talk about Malaysian producers

Posted by Icon8888 > 2019-03-03 14:22 | Report Abuse

the problem with Philips is that he thinks he knows about the businesses when indeed he knows very little

when come to investing , it is very important TO KNOW WHAT YOU KNOW AND WHAT YOU DON'T KNOW

when I don't know about something, I tell myself I don't know and leave it to time and chances to sort things out

philips is the opposite. When he doesn't know, he thinks he knows, and he jumps into conclusion

too judgmental, too un-open minded

Posted by sense maker > 2019-03-03 14:46 | Report Abuse

Dividend doesn’t rise with earnings. Thus, it is accorded a low pe multiple.

Posted by (S = Qr) Philip > 2019-03-03 14:49 | Report Abuse

The problem with icon is you think I am saying yocb is a bad business, same like your favorite success transformer and your PANTECH.
I did not say they are bad BUSINESSES. I say they are average companies. Investing in it will bring you no big success long term.

If you don't believe me, just answer me a few questions.

When was yocb founded? (1966).

What was it's growth soccer 2014 until 2019. Had it made any big headway into the market? What has its incremental growth been so slow? From 2009 to 2019, in ten YEARS it has only been about to double it's incremental growth.

Does that appear to be a wonderful business to invest in for you?

In 2014, Yong onn did 197 million with 20 million net profit
And now it is doing 204 million with 25 million net profit.

Contrast that to a company with a good moat like hong long industries
In 2014 it did 2 billion with 167 million net profit.
Last year it did 2.5 billion with 335 million net profit

In that time what has the share price range been?

Yongonn has been range bound at rm0.8-1.4.
HLIND has gone from rm 4.2 - 11.2 in that period.

Why? Think carefully.

How big is the prospective market that they are in?

What is the possibility of yongonn doing 1 billion in revenue and 12% net profit? ( Any wild ideas where this will be even possible in the next 10 years?)

What is the possibility of Hong leong industries doing 3-5 billion is revenue in the next 10 years? Highly possible.

If you want to buy average companies for average results be my guess.

Do you have to bring others down to make yourself look smart?

Posted by (S = Qr) Philip > 2019-03-03 15:03 | Report Abuse

Only fools who are not in the industry think that the internet retail is not killing the average businesses in Malaysia. Everyone everywhere is being affected, especially when it is getting easier and easier to buy directly from China manufacturers and bypassing local retailers.

Parkson is dying.
Phone shops and accessories are suffering.
Shoe shops and retail are increasingly being bought online.
Lazada sold 100 million in one day, on 11/11. Do you think that is new sales or sales that come at the cost of average companies?

Still don't believe me? Go on Lazada and type bedsheets. What makes you think it won't be difficult for some enterprising fellow with connections to army and some capital, getting their specifications and entering tender with china products fulfilled and "designed" in Malaysia?

In the long run, the 64 billion dollar question is how retail companies can compete directly with manufacturers, as the internet increasingly makes it easier to deal direct with the source.

But go ahead.

Put a big networth into yocb stock. Hold it for 5 years.

Prove me wrong.
>>>>>>

you have to bear in mind that tabao , lazada etc has been in operation for long time already. they are not something new.

whatever negative impact they have, the Malaysian companies have been surviving and thriving.

Posted by (S = Qr) Philip > 2019-03-03 15:18 | Report Abuse

Choivo, I have a good friend who is one of the biggest textiles and fabric traders here in Sabah, vunfa. I have been with the son to China before when they do product sourcing. They go to Guangzhou fabric exhibition every year, meet the new players and connect with the old. Back then it was much more difficult to do sourcing as you needed to know fluent Chinese, have the luck to avoid the fraud companies, and deal with only the reliable ones.

These days the pillows and bedsheets that his local suppliers and hotels owners that buy from him become much less.

The hotel owners just go directly to Alibaba and deal with online manufacturers, protected by the Alibaba guarantee of quality. They sell at very low prices, even for small purchases.

30 years ago vunfa used to enjoy 50% margins on trading. These days he has to sell selling 10% margins, because that is what the market would accept as the cost of acceptable transaction.

He had closed 2 warehouses, and has concentrated his business out of city areas like KK and went into the smaller towns and rural areas, where buyers are still afraid to use the internet to buy stuff.

Ask around. You will find the same story repeated in many retail industries.

>>>>>>
I own a little.

Phillip, let me ask you. How does one go about buying a mattress, pillow, bolster, bedsheets etc in Malaysia, or even globally.

If you understand this, you will like it more. Im thinking of expanding it from the current 1% to 3%.

Posted by lazycat > 2019-03-03 15:32 | Report Abuse

yocb sell their products online too, search their brand '' jean perry '' u'll see how many people bought their products

long num.. china textiles is not that good in quality and not that cheap too , and also if u bought online from oversea seller , you can't return the products if you not satisfied with the quality while you can return if the purchases is in local

but having said this , i din't buy or having any yocb products , in fact i think their products is just so so , affordable is their selling point in my view

Posted by (S = Qr) Philip > 2019-03-03 15:33 | Report Abuse

Come in icon, be serious here. If you want to buy a single digit pe share, would you rather buy Hong Leong industries or buy yocb.

I know you will agree with me, because you are smart and I am right.

Do YOU know what business future yocb has?

Posted by lazycat > 2019-03-03 15:39 | Report Abuse

products so so , company also gonna so so loh..!!
if u invest in the company , return also gonna be...?

Posted by (S = Qr) Philip > 2019-03-03 15:39 | Report Abuse

Shopee has escrow according to my wife and daughter. If you buy there only if you are happy with the product will shoppee release money to the buyer.

The moment they decided to play the Lazada game you know yocb has already lost. Their products becomes a commodity that is lost in the sea of Lazada selection. The main selection for bedsheets is thread count. Can anyone compare quality online? No? They start with prices first. How does yocb compete if not on price then?

Lazycat, you are wrong the. The best textiles that I have ever bought come from China. Just depends if you know what you are looking at.

>>>>
long num.. china textiles is not that good in quality and not that cheap too , and also if u bought online from oversea seller , you can't return the products if you not satisfied with the quality while you can return if the purchases is in local

Posted by lazycat > 2019-03-03 15:48 | Report Abuse

good quality does not come with low price , china yuan is strengthen against ringgit in last few years , their textiles products is not that competitive anymore , plus they have extra shipping cost etc etc , yocb din't lose to china products based on my observation

Posted by soojinhou > 2019-03-03 16:00 | Report Abuse

With regards to apparel and to a certain extent bedsheet, pillow cases etc, most people would still like to see, try and feel the product before they buy. U may buy from taobao, but if the quality is unsatisfactory, it is difficult and troublesome to send back and get a refund. As much as e-commerce is a threat to brick and mortar shops, it's still difficult to replicate the experience of feeling and trying a textile product. Yocb's profit has been consistent, albeit boring throughout all these years, and recently exhibited growth, even with the onslaught of e-commerce. In my opinion, the threat of e-commerce to yocb is exaggerated. I don't have any friends who would rather buy bedsheets from the internet than going to the shop and feeling the product.

Posted by (S = Qr) Philip > 2019-03-03 16:01 | Report Abuse

Ok lazycat, you are probably right. I wonder where yocb buys it's textiles from? Or they process their own silk and cotton into textiles based on your observation?

I was thinking that yocb uses China products which they form into their own end products. Maybe I am wrong then.

But where they get their products lazycat? Do you know?

Posted by Rwkl > 2019-03-03 16:02 | Report Abuse

I can hazard a guess the omly topic Philip is deficient in must be market timing.

I suppose to be able to pick the best, one must know all the rest....

Posted by lazycat > 2019-03-03 16:11 | Report Abuse

they manufacturing their own products from raw materials la , u really think china that powerful , malaysia so pariah meh?

Posted by (S = Qr) Philip > 2019-03-03 16:12 | Report Abuse

I wouldn't know how many friends your have, or if any are married and moving into a new home.

But that is besides the point. What are the possible growth triggers/events in your opinion that would allow yocb to triple their revenue/earnings in the next 5 years. If you can't name one source (or multiples) that can add 200 million extra revenue and 20 million earnings other than population growth or inflation?

If you can't imagine one possible future with those kind of results, I suggest moving on.

>>>>
I don't have any friends who would rather buy bedsheets from the internet than going to the shop and feeling the product.

Posted by untong > 2019-03-03 16:14 | Report Abuse

I try to relate the growth of this industry to the new housing development and hotel industry; obviously these two industries has been slowing down; my worries is that the growth of this company will be affected unless they can grab market share from others; just look at whitehorse; i can feel the similar future

Posted by soojinhou > 2019-03-03 16:14 | Report Abuse

And sorry threadcount is not the be all end all to a good bedsheet. I've bought shitty high threadcount bedsheet like feels like sandpaper. If yocb is so easily disruptable u would have seen some major parkson like shit years ago, but so far it's been holding steady.

Posted by soojinhou > 2019-03-03 16:18 | Report Abuse

Oh ic. U r looking for super high growth companies. Sorry then u won't find it in yocb. But I think most of us who don't have your gift of precise multi year forecasting do just fine with short-medium term switching among cheap ass stocks. I'm happy with my cagr and I do not aspire to be like you. In the meantime, what's your long term cagr? Mind sharing?

Posted by Perakian > 2019-03-03 16:18 | Report Abuse

Dayang TP >RM 3.

Posted by (S = Qr) Philip > 2019-03-03 16:22 | Report Abuse

Again I say yocb is not a bad business. Otherwise I will be saying it it. I am saying yocb is an average business, with average future prospects. Terminal growth is a concept many investors have yet to understand. They only see either up or down and share price.

Lazycat: I don't say Malaysia is pariah or not. I'm wondering where the raw materials come from? ( China is the biggest source for raw materials).
Unless you can give me a cotton plantation or farm and silk growing farm in Malaysia, I am saying they buy their raw materials from China and Vietnam. And sews and processes it locally. They are selling their designs and logistics and process control capability. Which is worth 10% margins.

Posted by lazycat > 2019-03-03 16:27 | Report Abuse

'' I'm wondering where the raw materials come from? ''

u think 99% cotton grow in china?

Posted by (S = Qr) Philip > 2019-03-03 16:39 | Report Abuse

If you live in South East Asia it is the cheapest source. Or can you name me a Malaysian cotton farm that produces it?

Posted by tan81 > 2019-03-03 18:08 | Report Abuse

Since market gives so low pe to yocb even though consistent growth, why nt yocb boss just privatise it?

Posted by GLNT > 2019-03-03 18:26 | Report Abuse

tan81, there are many undervalued companies in KLSE, why not privatize all? This is a question you need to find out for yourself. Look at Insas, BJCorp, Oriental, WTK, MediaC etc. Can be many reasons: Can get more money from shareholders, can get cheaper funding, lazy to bother with privatization, reputation, fame etc....

Posted by ramada > 2019-03-03 18:28 | Report Abuse

Just walk-walk here, nothing special.

Posted by tan81 > 2019-03-03 18:30 | Report Abuse

Insas...bjcorp...wtk...mediac
All eps not consistent and eps downtrending.
How to compare with yocb?

Posted by GLNT > 2019-03-03 19:04 | Report Abuse

Chin Well, RCE Capital, MBM Resources, Takaful, FLBhd then. YOCB might privatize though. We can rush in to buy to capture future privatization benefit loh. If no privatization, we can enjoy the capital appreciation loh. Risk reward is good lah.

Posted by Heavenly PUNTER > 2019-03-03 19:07 | Report Abuse

name not very nice, yocb like Yo CB!

Posted by arv18 > 2019-03-03 19:16 |

Post removed.Why?

Posted by arv18 > 2019-03-03 19:22 | Report Abuse

The truth hurts, there is no point flagging posts if you are butthurt about someone calling your ignorance out.

How about this - Instead of wasting time on this forum parading your ignorance, how about you do some learning - baca buku instead? Can or not?

Posted by newbie911 > 2019-03-03 19:58 | Report Abuse

Abang misai brainwashed by uncle alr....
he crazy with dayang only.

Posted by khuen > 2019-03-03 20:49 | Report Abuse

Consumer need to experience the touch and feel the mattress product's quality before buying, so consumer will not buy it via online aggressively. Just take a look at Uniqlo & other business which depends on consumer experience is still doing well and cannot be substituted by online purchasing.

Posted by birkincollector > 2019-03-03 21:25 | Report Abuse

hmmm....how often one change the bed?

Posted by tm9999 > 2019-03-03 23:45 | Report Abuse

Actually...online help yocb as well.
U just type yocb related brand online...available in shoppe.com, lazada etc.

Posted by (S = Qr) Philip > 2019-03-04 08:25 | Report Abuse

Online helps yocb not at all, if within 5 minutes ago of yocb competitors and prices are shown on in the same page immediately. And the selection goes on for pages and pages.

I don't know about you, but I believe pricing power can be achieved if the prospective buyer goes to a retail mall like harmony and find only 1 store like that in the entire shipping mall. They would be willing to pay higher prices, impulse buys and stuff.

Imagine if you opened a computer trading shop in imbi, where it is floor after floor after floor of computer parts. Probably more sales, but profits will get lower and lower and lower as everyone starts to get hungrier. I forget if imbi still exists though. I had great memories building my own 386 pc with VGA graphics and a 14.4kb internal modem.

This is exactly what is happening with online retail. Floor upon floor upon floor of retail space. If you think yocb will be able to differentiate itself among the sea of sellers, you'd be wrong. Pineapple used to be the big dog. Now look what happen.

And for icon who seems to think I know nothing about what I am criticizing, be aware that I read a lot of annual reports. I compared with yocb with many many other companies when I do my reading. The biggest of which if you don't know and doing similar business but in much bigger scale is BBBY, nasdaq(bed, bath and beyond). Note the year 2014 when internet retail and consumer e-commerce confidence exploded and their business gradually lost share as customers finally realized the thick margins it was sitting behind. They moved their business online to internet shops and cheap warehousing.

Note how yocb business was steadily growing from 2009 up till 2014, when the earnings and revenues ( further about share price for a minute) of the business started to stagnate and growth story became very much slower.

Very simple question: do you check prices online first before you go buying your products in retail shops? If you are one of the millennials who do ( my daughter taught me this trick), you would balk at paying high prices for retail shops, who have a valid excuse in paying high rental, physical workers and ex stock in site.