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发表于 24-11-2016 12:43 AM
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本帖最后由 icy97 于 28-11-2016 01:42 AM 编辑
HeveaBoard Bhd - Climb aboard now!
22 Nov 2016
- We deem 9M16 core net profit in line as we expect a strong 4Q.
- 2nd interim DPS of 1.3 sen slightly ahead of expectations.
- Strong dollar and and rising PB prices a perfect scenario for Hevea.
- We raise our FY17-18F EPS by 5-15%.
- As we roll over our valuation to end-17, our SOP-based target price rises by 17% to RM2.37.
We deem results in line
9M16 core net profit of RM52.7m was at 58% of our full-year forecast but we deem this in line as 4Q should be very strong given that 1) both its divisions will be in peak season, 2) the increase in particleboard (PB) prices in Sep should start to filter through, and 3) the ringgit is weak.
Operations review
In 9M16, Hevea sold more E0/super E0 boards (58% of board sales) compared with only about 48% in the same period last year. On a qoq basis, earnings recovered sharply (+100% qoq increase in pretax profit and doubling of pretax margins from 10% to 20%) in 3Q from the plant shutdown in 2Q. The furniture (RTA) division saw a 24% yoy and 30% qoq drop in pretax profit due to rise in labour cost post minimum wage implementation in Jul 16.
Net cash at 13% of market cap
Net cash per share stood at 20 sen at end-3Q. We forecast that figure to rise to 32 sen by end-FY17. The second interim DPS of 1.3 sen brought 9M16 DPS to 2.6 sen. With two more interims to be declared, this is slightly ahead of our 5 sen full-year estimate.
Shortage of raw material in China drives up PB prices
Due to curbs on logging nationwide since 2015, China has been facing an acute raw material supply shortage for domestic PB production, resulting in soaring demand for imported PB. As a result, PB prices rose 5-8% qoq in 3Q, led by Thai producers. Hevea has also started raising prices. A prolonged shortage could see more price hikes for Hevea's exports to China (c.50% of its PB exports).
FY17F-18F EPS raised by 5-15%
We raise our FY17F-18F EPS by 5-7% to factor in 1) weaker RM/US$ assumptions and 2) higher E0-Super E0 selling prices (+10%); but mitigated by 1) higher raw material prices (up 10-15%), and 2) slightly higher effective tax rate of 12% (vs. 10%) due to higher tax rate in the furniture division. Hevea is one of the biggest beneficiaries in our coverage of a strong US$ (every 1% appreciation in the US$ will boost FY17F EPS by 5%).
It does not get better than this
We maintain our Add rating on Hevea with a higher SOP-based target price of RM2.37 as we roll over our valuation to end-2017 and include net cash/share to our SOP estimate. At FY18F ROE of 21%, Hevea is still trading at only 1x FY18F P/BV. The environment for Hevea could not be better given the strong dollar and higher PB selling prices. Downside risks to our forecast is higher-than-expected raw material price increase.
Source: CIMB Research - 22 Nov 2016
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发表于 28-11-2016 12:27 AM
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发表于 30-11-2016 05:07 AM
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EX-date | 05 Dec 2016 | Entitlement date | 07 Dec 2016 | Entitlement time | 04:00 PM | Entitlement subject | Interim Dividend | Entitlement description | Single-Tier Second Interim Dividend of 1.30 sen per ordinary share of RM0.25 each (post-split) in respect of the financial year ending 31 December 2016. | Period of interest payment | to | Financial Year End | 31 Dec 2016 | Share transfer book & register of members will be | to closed from (both dates inclusive) for the purpose of determining the entitlement | Registrar or Service Provider name, address, telephone no | BINA MANAGEMENT (M) SDN. BHD.Lot 10, The Highway CentreJalan 51/20546050 Petaling JayaSelangor Darul EhsanTel:03-77843922Fax:03-77841988 | Payment date | 21 Dec 2016 | a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers | 07 Dec 2016 | b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit |
| | c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange. | Number of new shares/securities issued (units) (If applicable) |
| | Entitlement indicator | Currency | Currency | Malaysian Ringgit (MYR) | Entitlement in Currency | 0.013 | Par Value | Malaysian Ringgit (MYR) 0.250 |
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发表于 11-1-2017 11:52 PM
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本帖最后由 icy97 于 12-1-2017 06:29 AM 编辑
億維雅斥1346萬向董事購地
2017年1月11日
http://www.chinapress.com.my/20170111/億維雅斥1346萬向董事購地/
（吉隆坡11日訊）億維雅（HEVEA，5095，主要板工業）宣布，旗下獨資子公司HeveaPac私人有限公司將以總值1346萬3350.40令吉，購入一塊佔地約3.127公頃的租賃地契工業地。
據億維雅向馬證交所報備文告指出，HeveaPac是一家組裝傢具生產及貿易公司，該公司從執行董事余江贏（人名譯音）手中購入上述位于森美蘭州雙溪牙律地段，該地段契約將在2046年3月7日屆滿。
雙方已在今日簽署買賣協議，余江贏在是項交易中是關聯方。
文告指出，上述地段也只限用于木板廠用途，也不可轉讓，除非獲得州政府同意，若不上述地段是被禁止充作抵押用途。
億維雅指出，上述地段將用于額外興建生產廠房，以應付新項目及生產需求，而上述地段就在HeveaPac現有生產廠房隔鄰，因此兩家廠房將可達至資源共享及達至協同效益。
Type | Announcement | Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS | Description | ACQUISITION OF LAND BY HEVEAPAC SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF HEVEABOARD BERHAD | Pursuant to Paragraph 10.08(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of HeveaBoard Berhad (“HeveaBoard” or “the Company") wishes to announce that HeveaPac Sdn. Bhd., a wholly-owned subsidiary of the Company, has on even date entered into a Sale and Purchase Agreement with Mr Yee Kong Yin, who is a related party, for the acquisition of a leasehold vacant land for a cash consideration of RM13,463,350.40.
Please refer to the attachment for further details.
This announcement is dated 11 January 2017. |
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5311349
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发表于 14-1-2017 04:06 AM
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Type | Announcement | Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS | Description | ACQUISITION OF LAND BY HEVEAPAC SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF HEVEABOARD BERHAD | Further to HeveaBoard Berhad’s (“HeveaBoard” or “the Company”) announcement made on 11 January 2017 (Reference No. GA1-04012017-00004) pertaining to the above matter, the Board of Directors' of the Company wishes to announce the additional information.
Please refer to the attachment for further details.
This announcement is dated 13 January 2017. |
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5314053
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发表于 20-1-2017 05:55 AM
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| 1. Details of Corporate Proposal | Involve issuance of new type/class of securities ? | No | Types of corporate proposal | Exercise of Warrants | Details of corporate proposal | Conversion of Warrants (HEVEA-WB) | No. of shares issued under this corporate proposal | 6,000,000 | Issue price per share ($$) | Malaysian Ringgit (MYR) 0.2500 | Par Value ($$) | Malaysian Ringgit (MYR) 0.250 | | Latest issued and paid up share capital after the above corporate proposal in the following | Units | 507,151,890 | Currency | Malaysian Ringgit (MYR) 126,787,972.500 | Listing Date | 20 Jan 2017 |
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发表于 9-2-2017 03:46 PM
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发表于 24-2-2017 07:54 PM
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本帖最后由 icy97 于 28-2-2017 04:26 AM 编辑
亿维雅全年净利扬10%
2017年2月25日
http://www.enanyang.my/news/20170225/亿维雅全年净利扬10/
（吉隆坡24日讯）基于刨花板与现成组装业务表现良好，亿维雅（HEVEA，5095，主板工业产品股）2016财年全年净利起9.65%，报8066万9000令吉。
同时，该公司也宣布派息每股2仙。
亿维雅今日向马交所报备，截至去年12月杪末季，净利也起9%，录得2800万6000令吉，上财年同季为2569万3000令吉高。
当季营业额则下跌3.84%，报1亿4522万令吉，低于上财年同期的1亿5101万9000令吉。
累计全年，营业额也增加7.3%，报5亿4004万5000令吉。
亿维雅董事部指出，全球营商环境充满不稳定及挑战。
不过，刨花板业务会专注在开发高价值产品，而现成组装业务将进一步自动化，生产更多高价值产品。相信，未来有能力应对挑战。
5095 HEVEA HEVEABOARD BHD
| | Quarterly rpt on consolidated results for the financial period ended 31/12/2016 | | Quarter: | 4th Quarter | | Financial Year End: | 31/12/2016 | | Report Status: | Unaudited | | Submitted By: |
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| Current Year Quarter | Preceding Year Corresponding Quarter | Current Year to Date | Preceding Year Corresponding Period |
| 31/12/2016 | 31/12/2015 | 31/12/2016 | 31/12/2015 |
| RM '000 | RM '000 | RM '000 | RM '000 | | 1 | Revenue | 145,220 | 151,019 | 540,045 | 503,309 | | 2 | Profit/Loss Before Tax | 29,562 | 30,295 | 90,295 | 82,834 | | 3 | Profit/Loss After Tax and Minority Interest | 28,006 | 25,693 | 80,669 | 73,571 | | 4 | Net Profit/Loss For The Period | 28,006 | 25,693 | 80,669 | 73,571 | | 5 | Basic Earnings/Loss Per Shares (sen) | 5.99 | 6.27 | 17.27 | 17.94 | | 6 | Dividend Per Share (sen) | 2.00 | 0.75 | 4.60 | 1.75 |
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| As At End of Current Quarter | As At Preceding Financial Year End | | 7 | Net Assets Per Share (RM) |
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| 0.9000 | 0.8400 |
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发表于 24-2-2017 07:54 PM
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本帖最后由 icy97 于 25-2-2017 02:17 AM 编辑
EX-date | 15 Mar 2017 | Entitlement date | 17 Mar 2017 | Entitlement time | 04:00 PM | Entitlement subject | Interim Dividend | Entitlement description | Single-Tier Third Interim Dividend of 2.0 sen per ordinary share in respect of the financial year ended 31 December 2016. | Period of interest payment | to | Financial Year End | 31 Dec 2016 | Share transfer book & register of members will be | to closed from (both dates inclusive) for the purpose of determining the entitlement | Registrar or Service Provider name, address, telephone no | BINA MANAGEMENT (M) SDN. BHD.Lot 10, The Highway CentreJalan 51/20546050 Petaling JayaSelangor Darul EhsanTel:03-77843922Fax:03-77841988 | Payment date | 31 Mar 2017 | a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers | 17 Mar 2017 | b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit |
| | c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange. | Number of new shares/securities issued (units) (If applicable) |
| | Entitlement indicator | Currency | Currency | Malaysian Ringgit (MYR) | Entitlement in Currency | 0.02 | Par Value | Malaysian Ringgit (MYR) 0.000 |
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发表于 26-2-2017 04:00 AM
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| 1. Details of Corporate Proposal | Involve issuance of new type/class of securities ? | No | Types of corporate proposal | Exercise of Warrants | Details of corporate proposal | Conversion of Warrants (HEVEA-WB) | No. of shares issued under this corporate proposal | 6,327,000 | Issue price per share ($$) | Malaysian Ringgit (MYR) 0.2500 | Par Value ($$) | Malaysian Ringgit (MYR) 0.000 | | Latest issued and paid up share capital after the above corporate proposal in the following | Units | 515,173,390 | Currency | Malaysian Ringgit (MYR) 0.000 | Listing Date | 24 Feb 2017 |
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发表于 26-2-2017 12:34 PM
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快速带过heveaboard berhad 最新的财务状况和发展
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发表于 2-3-2017 08:36 PM
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本帖最后由 icy97 于 2-3-2017 11:55 PM 编辑
产量增10%．推电子商务．亿维雅盈利看俏
http://www.sinchew.com.my/node/1619637/
（吉隆坡2日讯）亿维雅刨花板（HEVEA，5095，主板工业产品组）第三条生产线将在今年4月投入生产（产量增加10%）、逐渐转向生产较高价值刨花板及利基产品、旗下准备组装（RTA）领域推出电子商务行销管道等利好挹注，分析员看好未来2年盈利成长。
肯纳格研究指出，目前该公司刨花板产品占总营业额的41.7%、其余58.3%来自准备组装领域，海外市场占逾90%的销售额，主要以美元为主。所以，美元汇率走势与其营收及盈利表现息息相关。
净现金1.14亿
该行对马币兑美元汇率假设定在4.35水平，加上更好的经济规模效益及营运效率，该行预期2017及2018财政年的营运盈利赚幅，将从2016年的16.48%增加61/47个基点。
维持30%股息政策
该公司在2015财政年开始成为净现金公司，至今手握净现金1亿1400万令吉。该行维持股息派发30%政策，不过，随着强劲的现金流、2017、2018年的资本开始低至2000万令吉及1500万令吉，相信它有进一步增加派发率的能力。
该行预期2017、2018财政年的每股股息为6.7仙及7.6仙，或等于周息率4.4%及5.0%。营业额成长料为14.9%及11.0%。由于存在外汇风险，该行依然保守预测估值。
肯纳格研究指出，该行预测2017及2018年净利将分别增长16.0%及13.9%，至9300万令吉及1亿零660万令吉，合理目标价1令吉50仙，或等于整体行业平均本益比8倍。
文章来源：
星洲日报‧财经‧报道：李文龙‧2017.03.02 |
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发表于 7-3-2017 07:11 AM
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Type | Announcement | Subject | OTHERS | Description | INCORPORATION OF A NEW WHOLLY-OWNED SUBSIDIARY - HEVEAGRO SDN. BHD. | The Board of Directors of HeveaBoard Berhad (“HeveaBoard” or “the Company”) wishes to announce that HeveaBoard has on 1 March 2017 incorporated a new wholly-owned subsidiary namely, HEVEAGRO SDN. BHD.
Please refer to the attachment for further details.
This announcement is dated 1 March 2017. |
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5354825
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发表于 9-3-2017 06:24 AM
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| 1. Details of Corporate Proposal | Involve issuance of new type/class of securities ? | No | Types of corporate proposal | Exercise of Warrants | Details of corporate proposal | Conversion of Warrants (HEVEA-WB) | No. of shares issued under this corporate proposal | 11,868,200 | Issue price per share ($$) | Malaysian Ringgit (MYR) 0.2500 | Par Value ($$) | Malaysian Ringgit (MYR) 0.000 | | Latest issued and paid up share capital after the above corporate proposal in the following | Units | 528,973,590 | Currency | Malaysian Ringgit (MYR) 0.000 | Listing Date | 09 Mar 2017 |
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发表于 11-3-2017 06:22 AM
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Name | TENSON HOLDINGS SDN. BHD. | Address | Lot 683, Batu 5
Jalan Kuala Pilah
Seremban
70400 Negeri Sembilan
Malaysia. | Company No. | 34126-V | Nationality/Country of incorporation | Malaysia | Descriptions (Class & nominal value) | Ordinary shares | Name & address of registered holder | Tenson Holdings Sdn. Bhd.Lot 683, Batu 5Jalan Kuala Pilah70400 SerembanNegeri Sembilan Darul Khusus |
Details of changesCurrency: Malaysian Ringgit (MYR) | Type of transaction | Description of Others | Date of change | No of securities
| Price Transacted ($$)
| | Others | Exercise of warrants | 07 Mar 2017 | 9,000,000
| 0.250
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Circumstances by reason of which change has occurred | Conversion of 9,000,000 Hevea Warrants B by Tenson Holdings Sdn. Bhd. | Nature of interest | Direct | Direct (units) | 15,300,000 | Direct (%) | 2.896 | Indirect/deemed interest (units) | 154,491,890 | Indirect/deemed interest (%) | 29.238 | Total no of securities after change | 169,791,890 | Date of notice | 10 Mar 2017 |
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发表于 15-3-2017 03:53 AM
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| 1. Details of Corporate Proposal | Involve issuance of new type/class of securities ? | No | Types of corporate proposal | Exercise of Warrants | Details of corporate proposal | Conversion of Warrants (HEVEA-WB) | No. of shares issued under this corporate proposal | 6,263,000 | Issue price per share ($$) | Malaysian Ringgit (MYR) 0.2500 | Par Value ($$) | Malaysian Ringgit (MYR) 0.000 | | Latest issued and paid up share capital after the above corporate proposal in the following | Units | 535,236,590 | Currency | Malaysian Ringgit (MYR) 0.000 | Listing Date | 15 Mar 2017 |
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发表于 23-3-2017 04:53 AM
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Type | Announcement | Subject | OTHERS | Description | HEVEABOARD BERHAD ("HEVEABOARD")RECOMMENDATION FOR DECLARATION OF A FINAL DIVIDEND IN RESPECT OF THE FINANCIAL YEAR ENDED 31 DECEMBER 2016 | The Board of Directors of HeveaBoard is pleased to announce the recommendation for the declaration and payment of a single-tier final dividend of 2.5 sen per ordinary share in respect of the financial year ended 31 December 2016, which is subject to the approval of the shareholders of HeveaBoard at its forthcoming Annual General Meeting. The date of entitlement and date of payment in respect of the aforesaid dividend will be announced in due course.
This announcement is dated 22 March 2017. |
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发表于 30-3-2017 11:53 PM
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发表于 28-4-2017 02:49 PM
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发表于 1-5-2017 05:13 AM
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EX-date | 13 Jun 2017 | Entitlement date | 15 Jun 2017 | Entitlement time | 04:00 PM | Entitlement subject | Final Dividend | Entitlement description | Single-Tier Final Dividend of 2.5 sen per ordinary share in respect of the financial year ended 31 December 2016 | Period of interest payment | to | Financial Year End | 31 Dec 2016 | Share transfer book & register of members will be | 15 Jun 2017 to 15 Jun 2017 closed from (both dates inclusive) for the purpose of determining the entitlement | Registrar or Service Provider name, address, telephone no | BINA MANAGEMENT (M) SDN. BHD.Lot 10, The Highway CentreJalan 51/20546050 Petaling JayaSelangor Darul EhsanTel:03-77843922Fax:03-77841988 | Payment date | 29 Jun 2017 | a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers | 15 Jun 2017 | b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit |
| | c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange. | Number of new shares/securities issued (units) (If applicable) |
| | Entitlement indicator | Currency | Currency | Malaysian Ringgit (MYR) | Entitlement in Currency | 0.025 | Par Value | Malaysian Ringgit (MYR) 0.000 |
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