【POHUAT 7088 交流专区】堡发资源

icy97

堡发越南子公司
获839万火险赔偿

2016年10月11日
（吉隆坡10日讯）堡发资源（POHUAT，7088，主板消费产品股）子公司堡发家具工业越南联股公司（简称PHFIV），已接获Bao Minh保险公司最后一笔火险理赔，连同早前的理赔金共达451亿3000万越南盾或约839.47万令吉。

火灾事故发生后，Bao Minh保险公司陆续在2015年12月11日、2015年12月23日和今年4月19日，释出三笔110亿越南盾（204.6万令吉）的中期赔偿金予PHFIV。

最后一笔保险理赔金在今天接获，达121亿3000万越南盾（225.63万令吉）。

今天接获的赔偿金，将纳入2016年10月杪财年的“其他收入”，并且将2016财年全年的赔偿金提高至231亿2000万越南盾。

子公司PHFIV在平阳省（Binh Duong）的工厂，是在2015年8月23日发生火灾，当时的亏损估计达900万令吉。

这座工厂拥有一条加工生产线，还有一座面积达1万530平方米的仓库，当中储藏即将交付给美国客户的货物。【e南洋】

Type	Announcement
Subject	OTHERS
Description	POH HUAT FURNITURE INDUSTRIES VIETNAM JOINT-STOCK COMPANY ("POH HUAT VIETNAM")- FIRE INCIDENT AT BINH DUONG FACILITIES IN VIETNAM 23 AUGUST 2015
We refer to the announcements made on 24 August 2015, 01 September 2015, 28 December 2015 and 20 April 2016 in relation to the above matter. Poh Huat Vietnam had received a first interim payment of VND11 billion on 11 December 2015, a second interim payment of VND11 billion on 23 December 2015 and a third interim payment of VND11 billion on 19 April 2016. The Company wishes to announce that Poh Huat Vietnam had agreed to a full and final settlement totalling VND45.13 billion from Bao Minh Insurance Corporation, Vietnam for the above incident. Poh Huat Vietnam received the final insurance compensation of VND12.13 billion on 10 October 2016 and recognised the compensation as "Other Income" in the final quarter ending 31 October 2016. The total fire insurance compensation (Other Income) recognised for the financial year ending 31 October 2016 is VND23.12 billion. This announcement is dated 10 October 2016.

icy97

Type	Announcement
Subject	OTHERS
Description	Poh Huat Resources Holdings Berhad ("Poh Huat" or "the Company")Additional investment of 2,700,000 new ordinary shares of RM1-00 each in the share capital of Poh Huat International Sdn. Bhd. ("PHI") by Poh Huat ("Investment").
The Board of Directors of Poh Huat wishes to announce that Poh Huat has on 13 October 2016 invested an additional 2,700,000 new ordinary shares of RM1-00 each ("Shares") at par as fully paid-up in the share capital of its wholly-owned subsidiary, PHI by way of cash of RM880,800-00 and agreed discharge of amount of indebtedness by PHI to the Company of RM1,819,200-00. Upon completion of the Investment, the issued and paid-up share capital of PHI shall increase from RM100,000-00 comprising 100,000 Shares to RM2,800,000-00 comprising 2,800,000 Shares. The Investment is not expected to have any material effect on the share capital, major shareholding, earnings, net assets and gearing of the Company for the financial year ending 31 October 2016. This announcement is dated 13 October 2016.

icy97

icy97 发表于 20-9-2016 03:29 AM
堡发资源扩展至澳洲
By Gho Chee Yuan / theedgemarkets.com   | September 19, 2016 : 7:41 PM MYT

（吉隆坡19日讯）家具制造商堡发资源（Poh Huat Resources Bhd）以425万澳元（1327万令吉）现金，收购一座位 ...

Type	Announcement
Subject	OTHERS
Description	Poh Huat Resources Holdings BerhadIncorporation of New Subsidiary in Australia
Further to Poh Huat Resources Holdings Berhad's ("Company") announcement on 19 September 2016 on the purchase of a warehouse cum office building in Dandenong, Victoria, Australia, the Company is pleased to announce that it has on 17 October 2016 incorporated a new wholly-owned subsidiary in Australia, namely Poh Huat (Australia) Pte Ltd ("Poh Huat Australia") as the investment holding company for the aforementioned warehouse. Poh Huat Australia will have an initial paid-up capital of AUS$100,000. It is anticipated that the funding for the purchase of the warehouse shall be a combination of equity and shareholders' advances. The incorporation of Poh Huat Australia does not have a material impact on the earnings of the Group for the financial year ending 31 October 2016 and the net assets of the Group based on the audited consolidated statement of financial position as at 31 October 2016. This announcement is dated 17 October 2016.

哭哭鸟

冷眼推荐股（十三）：POHUAT
Friday, November 25, 2016
http://bblifediary.blogspot.my/2016/11/pohuat.html

业务
- 家私制造

POHUAT（堡发资源，7088，主板消费品组），于2000年3月29日上市大马交易所第二板，之后于2003年11月11日转至主板。

POHUAT主要涉及制造及销售木质傢俬，以“AT办公室系统”及“AT家居系统”的品牌推出其办公室家私及家居家私。

POHUAT目前在越南拥有两座厂房，分别座落在Binh Duong和Dong Nai，目前已70%至80%的产能来运作。越南业务的客户包括 Standard 家具、Ashley家具工业和Pulaski家具。

POHUAT这支股可说是很多投资者心中的痛，主要因为今年初其股价因美元快速走低而从顶峰暴跌，而且其业绩也开始走低。

然而，POHUAT的业绩在第二季触底（387万令吉）后，目前已经开始回弹至999万令吉。

在公司最新的季报里头，该公司有解释自该公司推出新款办公司家具后，其需求开始回升。此外，北美的需求也增加，而且预料在美国经济改善下，需求将会持续走高。

以目前的情况来看，虽然业绩要超越2015年财政年已经没有可能，但未来在其业绩逐步改善下，股价将有望逐步走高。   

个人预测，POHUAT来临的业绩里其每股净利将会恢复到每股6仙，而家具业领域的整体本益比大约在8倍左右。如果真如我所料，那么其合理价将有望重估至RM2.02。

免责声明：
以上投资分析，纯属本人个人意见和观点。


文章所提做出的数据与价格仅供参考，建议大家在买进一家公司的股份前，请先做功课并了解该公司，并衡量应何时进场和离场，任何人因看此文章而造成任何投资损失，本人恕不负责。切记，买卖自负！

哭哭鸟

資匯 The busy weekly

哭哭鸟

堡发资源末季净利跳涨20% 赚幅提升和美元走挺
By Ahmad Naqib Idris  / theedgemarkets.com   | December 22, 2016 : 7:18 PM MYT
http://www.theedgemarkets.com/my/article/堡发资源末季净利跳涨20-赚幅提升和美元走挺

（吉隆坡22日讯）堡发资源（Poh Huat Resources Holdings Bhd）2016财政年末季净利按年增长20%至1906万令吉，或每股8.93仙；同期净赚1585万令吉，或每股7.43仙，归因于较高的盈利赚幅，以及美元兑令吉走挺。

该集团今日向大马交易所报备，2016财年末季（截至10月31日止）营业额年增8%至1亿5205万令吉，同期报1亿4017万9000令吉。

堡发资源将营业额增加归功于美国和加拿大市场的产品需求持续不断，以及越南厂房在8月完成新喷雾线设施后的效率提高。

与此同时，堡发资源表示，大马厂房在合理化产品及新产品过渡期的情况下，营业额水平有所缓和。

由于生产率较高，加上从越南出口的产品赚幅提高，该集团的总盈利赚幅也水涨船高。同时，美元兑令吉走挺也推高盈利水平。

总结2016财年的业绩表现，堡发资源净利年增20%至4706万令吉，相比同期的3919万令吉；全年营业额共计5亿3522万令吉，同期录得4亿5393万令吉，涨幅为18%。

展望未来，随着美国房屋市场有所改善，该集团预计，家庭产品的需求未来几年料将持续不断。

“家具和家居用品店过去两年的表现优于其他零售贸易业务，如百货公司和服饰店。家俱领域本身的表现大约是整体经济的两倍，主要因为卧室和饭厅家俱销售表现强劲。”

然而，堡发资源补充道，美国升息可能冲击房屋市场，因房屋市场放缓将影响美国的家具领域。

“在稳健基本面方面，本集团下一财年的产品需求料将持续不断，尤其来自北美市场的产品需求。

“然而，我们注意到，全球环境持续波动，因欧洲经济持续衰退及原产品价格走足底。Donald Trump在近期美国总统选举中获胜，也为政策及监管方面带来不确定因素。”

（编译：倪嫣鴽）

SUMMARY OF KEY FINANCIAL INFORMATION 31 Oct 2016

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Oct 2016	31 Oct 2015	31 Oct 2016	31 Oct 2015
		$$'000	$$'000	$$'000	$$'000

1	Revenue	152,049	140,179	535,219	453,932
2	Profit/(loss) before tax	24,698	19,887	58,614	47,373
3	Profit/(loss) for the period	19,002	15,584	46,763	38,579
4	Profit/(loss) attributable to ordinary equity holders of the parent	19,058	15,851	47,064	39,185
5	Basic earnings/(loss) per share (Subunit)	8.93	7.43	22.05	18.36
6	Proposed/Declared dividend per share (Subunit)	2.00	2.00	8.00	5.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.1397		1.0013

icy97

Type	Announcement
Subject	OTHERS
Description	PROPOSED FINAL SINGLE-TIER DIVIDEND FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2016
The Board of Directors of Poh Huat Resources Holdings Berhad ("Poh Huat" or "the Company") wishes to announce that the Directors has on 22 December 2016 proposed a final single-tier dividend of 4% equivalent to 2 sen per share for the financial year ended 31 October 2016 ("Proposed Final Dividend"), subject to the approval of shareholders of the Company at the forthcoming Annual General Meeting. The total dividends paid and proposed by Poh Huat in respect of the financial year ended 31 October 2016 is 16% equivalent to 8 sen per share. The entitlement date and payment date is respect of the Proposed Final Dividend will be determined and announced by Poh Huat in due course. This announcement is dated 22 December 2016.

icy97

堡发资源
出口美国带动业绩

2016年12月24日

分析：达证券
目标价：2.08令吉

最新进展

堡发资源（POHUAT，7088，主板消费产品股）截至10月杪末季，净利按年上涨20.23%，报1905万8000万令吉；末季营业额按年上涨8.47%，报1亿5204万9000令吉。

业绩由公司产品需求持续，及与美国及加拿大市场需求支撑。

该公司也建议派发每股2仙的最终单层股息。

累计全年，净利按年上涨20.11%，录得4706万4000令吉；营业额涨17.91%，录得5亿3521万9000令吉。

行家建议

堡发资源2016本财年核心净利4480万令吉表现稍微低于我们全年预测，仅录得93.4%，因为越南的营运赚幅略低于预期。

美国新总统特朗普将实施经济政策，其中包括大规模重建基础设施、减税，及创造就业就会，以利于未来美国经济。

由于美国房市呈上升趋势，且是堡发资源家具的主要出口国，我们因而维持该公司净利预测，看好未来将保持强劲。

综合上述因素，堡发资源未来财政状况稳定，因此给予“买入”评级，并将目标价从1.68令吉，提升至2.08令吉。



【e南洋】

哭哭鸟

7088    POHUAT    POH HUAT RESOURCES HOLDINGS

Quarterly rpt on consolidated results for the financial period ended 31/10/2016

Quarter: 4th Quarter Financial Year End: 31/10/2016 Report Status: Unaudited Submitted By: Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period 31/10/2016 31/10/2015 31/10/2016 31/10/2015 RM '000 RM '000 RM '000 RM '000 1 Revenue 152,049 140,179 535,219 453,932 2 Profit/Loss Before Tax 24,698 19,887 58,614 47,373 3 Profit/(loss) attributable to ordinary equity holders of the parent 19,058 15,851 47,064 39,185 4 Net Profit/Loss For The Period 19,002 15,584 46,763 38,579 5 Basic Earnings/Loss Per Shares (sen) 8.93 7.43 22.05 18.36 6 Dividend Per Share (sen) 2.00 2.00 8.00 5.00 As At End of Current Quarter As At Preceding Financial Year End 7 Net Assets Per Share (RM) 1.1397 1.0013

icy97

POH HUAT RESOURCES HOLDINGS BERHAD

EX-date	05 Apr 2017
Entitlement date	07 Apr 2017
Entitlement time	04:00 PM
Entitlement subject	Final Dividend
Entitlement description	Final single tier dividend of 4% equivalent to 2 sen per share in respect of the financial year ended 31 October 2016.
Period of interest payment	to
Financial Year End	31 Oct 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	SYMPHONY SHARE REGISTRARS SDN BHDLevel 6, Symphony HousePusat Dagangan Dana 1Jalan PJU 1A/4647301Petaling JayaTel:0378490777Fax:0378418151
Payment date	21 Apr 2017
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	07 Apr 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

雷克斯R

爆發了

哭哭鸟

堡发资源首季赚1767万
2017年3月23日
http://www.enanyang.my/news/20170323/堡发资源首季赚1767万/

（吉隆坡22日讯）堡发资源（POHUAT，7088，主板消费产品股）截至1月杪首季，净赚1767万令吉或每股8.28仙，按年扬25%，上财年同季为1413万6000令吉。

堡发资源今日向交易所报备，同期营业额按年增8.21%，从1亿5105万8000令吉，走高至1亿6345万9000令吉。

派息2仙

同时，该公司也建议，派发每股2仙的第一期中期股息。

该公司指出，营业额增长，归功于越南和我国货物销售价格提升。

其中，越南工厂的出货量改善，可应付美国的持续订单。至于我国业务的营业额，则因在上季度推介新产品而获改善。

此外，美国的就业、家庭收入，及利率趋稳，将有利于住宅业务，进而支撑对堡发资源的需求。

市场情绪正面，产品需求也将在现财年保持强劲，尤其是南美市场。

SUMMARY OF KEY FINANCIAL INFORMATION 31 Jan 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Jan 2017	31 Jan 2016	31 Jan 2017	31 Jan 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	163,459	151,058	163,459	151,058
2	Profit/(loss) before tax	19,502	16,219	19,502	16,219
3	Profit/(loss) for the period	17,520	14,031	17,520	14,031
4	Profit/(loss) attributable to ordinary equity holders of the parent	17,670	14,136	17,670	14,136
5	Basic earnings/(loss) per share (Subunit)	8.28	6.62	8.28	6.62
6	Proposed/Declared dividend per share (Subunit)	2.00	2.00	2.00	2.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.2443		1.1397

icy97

EX-date	30 Jun 2017
Entitlement date	04 Jul 2017
Entitlement time	04:00 PM
Entitlement subject	First Interim Dividend
Entitlement description	First interim single-tier dividend of 4% equivalent to 2 sen per share in respect of the financial year ending 31 October 2017.
Period of interest payment	to
Financial Year End	31 Oct 2017
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	SYMPHONY SHARE REGISTRARS SDN BHDLevel 6, Symphony HousePusat Dagangan Dana 1Jalan PJU 1A/4647301Petaling JayaTel:0378490777Fax:0378418151
Payment date	21 Jul 2017
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	04 Jul 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

哭哭鸟

icy97

Date of change	31 May 2017
Name	DATUK SERI ZULKIPLI BIN MAT NOOR
Age	68
Gender	Male
Nationality	Malaysia
Designation	Chairman
Directorate	Independent and Non Executive
Type of change	Resignation
Reason	Due to health condition.
Details of any disagreement that he/she has with the Board of Directors	No
Whether there are any matters that need to be brought to the attention of shareholders	No
Qualifications	Diploma in Public Administration, UTMBachelor Degree in Political Science, B.A (Hons.) Kansas University, USADegree in Strategic Studies & International Relations, (M.A), Lancaster University, England
Working experience and occupation	Datuk Seri Zulkipli Bin Mat Noor was appointed as Police Inspector (Probationary Inspector) on 16.06.1969 and confirmed as Police Inspector on 16.06.1972. On 01.01.1976 he was promoted as Acting Assistant Superintendent of Police and confirmed as Assistant Superintendent of Police on 13.11.1980. On 01.12.1980, he was promoted as Deputy Superintendent of Police and Superintendent of Police on 12.10.1984. On 22.09.1986, he was promoted as Assistant Commissioner of Police and as Senior Assistant Commissioner II of Police on 15.01.1992. On 30.04.1993, he was promoted as Senior Assistant Commissioner I of Police and on 31.10.1996 as Deputy Commissioner of Police. He was then promoted as Commissioner of Police and seconded to Anti Corruption Agency Malaysia as Director General on 01.04.2001 until his retirement on 31 March 2007.

icy97

堡发资源
美署假推动销售

2017年6月10日

分析：达证券
目标价：2.51令吉

最新进展:

堡发资源（POHUAT，7088，主板消费产品股）将会在本月底公布截至5月杪的次季财报。

行家建议:

我们预测，堡发资源次季净利介于400万至600万令吉，占我们全年预估的7.5%至11.2%，意味着跌幅介于65.8%至77.2%，这是因为季节因素会冲击销售额。

通常，该公司销售会在第二季因农历新年、圣诞后和新年假期而下跌，而主要市场美国的暑假则会是推动力。

过去3年，第二季的净利占全年预估的8.5%至10.7%。

另外，美国新屋开工和美成屋销售正面，代表公司盈利展望利好。

由于大部分销售是以外汇交易，尤其是美元。虽然令吉近月走强，但上半年整体的汇率实则从前一年的4.18，贬值至4.43，还是可带动净利。

对于今年，我们的汇率预估是4.25。

此外，预计堡发资源产房使用率以及销售额提高，持续推动未来发展。

我们并维持“买入”投资评级，目标价则从2.74令吉下调至2.51令吉，以反映平淡的稀释反应。



【e南洋】

icy97

堡发资源次季净利翻近两倍 家具出口上扬
Adela Megan Willy/theedgemarkets.com
June 14, 2017 19:36 pm MYT

（吉隆坡14日讯）堡发资源（Poh Huat Resources Holdings Bhd）截至2017年4月30日止的财政年次季（2017财年次季）净利按年飙涨1.7倍至1060万令吉，同期仅净赚388万令吉，归因于越南及大马业务的家具出口量增加，从而推高营收。

该集团的每股盈利也从上财年次季的1.82仙，扬升至4.97仙。

根据大马交易所今日的文告，堡发资源2017财年次季营业额按年增长20%至1亿2765万令吉，同期报1亿646万令吉。

该集团指出，由于新产品（譬如上一季推出的面板卧室样板）投产，大马厂房的家具出口也大幅上涨，而出口至美国市场的面板卧室样板所占的比重也从5%扩增至20%。

“随着美国经济有所改善，加上集团致力于出口更高价值的订单到美国，越南业务的家具出口也随之走高。”

此外，该集团表示，大马和越南业务的“盈利大幅走高”，并补充指新产品出货量增加带动大马业务的盈利增长逾3倍，这些新产品包括出口至美国的面板式卧室样本。

同时，美元兑令吉走挺也推高该集团的盈利水平。

“我们的越南业务也呈亮眼表现，因我们着重于高端产品，以及提高生产效率和厂房使用率。”

总结累计首6个月（2017财年上半年）的业绩表现，堡发资源净利按年调涨57%至2828万令吉，上财年同期仅净赚1801万令吉。

合共两季营业额累计2亿9111万令吉，同期报2亿5752万令吉，涨幅为13%。

2017财年上半年的每股盈利共计13.24仙，相比同期的8.44仙。

展望未来，堡发资源表示，随着出口至美国的面板式产品出货量大幅上升，加上越南厂房的家具出口依然稳健，近几个月的产品需求量持续上涨。

“堡发资源陆续接获订单，预计此情况将在下半年持续。此外，本集团也留意到全球家具行业的竞争力和全球波动局势。”

“本集团致力于祭出资本开销，以加强和扩展业务。”

（编译：倪嫣鴽）

SUMMARY OF KEY FINANCIAL INFORMATION 30 Apr 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Apr 2017	30 Apr 2016	30 Apr 2017	30 Apr 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	127,647	106,464	291,106	257,523
2	Profit/(loss) before tax	14,212	5,458	33,714	21,676
3	Profit/(loss) for the period	10,487	3,774	28,007	17,805
4	Profit/(loss) attributable to ordinary equity holders of the parent	10,604	3,877	28,275	18,012
5	Basic earnings/(loss) per share (Subunit)	4.97	1.82	13.24	8.44
6	Proposed/Declared dividend per share (Subunit)	0.00	2.00	2.00	4.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.2429		1.1397

icy97

Date of change	14 Jun 2017
Name	MR TAY KIM HUAT
Age	62
Gender	Male
Nationality	Malaysia
Type of change	Redesignation
Previous Position	Managing Director
New Position	Group Chief Executive Officer
Directorate	Executive
Qualifications	Nil
Working experience and occupation	M Tay Kim Huat is the co-founder of Poh Huat Furniture Industries (M) Sdn. Bhd., the main operating subsidiary of the Group. With more than 40 years of experience in the furniture manufacturing industry, Mr Tay Kim Huat now leads the Group in areas of strategic planning, business development, new ventures and investment. He is also actively involved in key operational aspects of the business of the Group, particularly in areas of purchasing and market development. He has been the main driving force behind the continuous introduction of new products and was instrumental in the rapid expansion of the operations of the Group, particularly in the overseas ventures and investments undertaken by the Group.
Family relationship with any director and/or major shareholder of the listed issuer	He is the brother of Mr Tay Kim Hau, an Executive Director and shareholder of the Company and Mr Tay Khim Seng, a Non-Executive Director and shareholder of the Company.
Any conflict of interests that he/she has with the listed issuer	Nil
Details of any interest in the securities of the listed issuer or its subsidiaries	Direct interest:- 51,469,376 ordinary shares- 5,113,268 warrantsIndirect interest:- Yeo Gek Cheng (2,330,028 ordinary shares and 262,507 warrants)- Tay Li Chin (2,134,448 ordinary shares and 271,612 warrants)- Tay Li Ping (2,320,500 ordinary shares and 320,125 warrants)- Tay Lee Thing (2,129,988 ordinary shares and 262,497 warrants)- Tay Yuan Sen (2,877,108 ordinary shares and 326,027 warrants)

icy97

堡发资源3年财测上调

2017年6月16日

分析：达证券
目标价：2.50令吉

最新进展：

堡发资源（POHUAT，7088，主板消费产品股）2017财年首半年净利，录得2830万令吉，按年扬57%，归功于营业额上涨13%，以及营运赚幅增加3.1个百分点，至11.9%。

其中，大马和越南的家具销售皆报捷，分别攀升8.8%和22.2%，除了汇率利好，在2016下半年新推出的卧室家具也是一大功臣。

行家建议：

堡发资源首半年净利超越预期，占全年预估的53%，且财年下半年遇上圣诞节和新年，需求通常将大涨，激励业绩表现，因此将2017财年净利预估上调9.4%。

同时，2018和2019财年财测，也跟着上调8.5%和8.4%。

不过，首半年未派出任何股息，因此将现财年股息预估，从8仙调低至6仙。同时，本益比从12倍，下修至11倍。进而导致目标价从2.51令吉，微降至2.50令吉。

随着美国经济稳健复苏、就业情况健康，加上房市回温，我们相信公司对美国出口将受惠，盈利前景持续明朗。

未来数月，面板产品需求将继续增加，我们认为公司将保留现金，以加强营运和扩充业务。



【e南洋】

icy97

堡发资源第三季净利跌3.4% 归咎外汇损失
Adela Megan Willy/theedgemarkets.com
September 25, 2017 19:58 pm MYT

（吉隆坡25日讯）堡发资源（Poh Huat Resources Holdings Bhd）第三季净利按年下滑3.4%至966万令吉，或每股4.52仙，同期净赚999万令吉，或每股4.68仙，归咎于外汇损失。

该集团今日向大马交易所报备，截至2017年7月31日止蒙受合共8万令吉的外汇损失，相比同期录得高达150万令吉的外汇收益。

由于堡发资源的大马和越南业务的运送量增加，第三季营业额报1亿5148万令吉，同期录得1亿2565万令吉，涨幅达20.6%。

本财年累计9个月的净利达3793万令吉，或每股17.76仙，同期报2800万令吉，或每股13.12仙，涨幅达35.4%。

合共3季营业额按年增长15.5%至4亿4258万令吉，同期累计3亿8317万令吉。

堡发资源表示，由于美国市场对家具的需求不断，该集团依然接获大批办公室和家庭用户的订单。

随着效率提高，该集团过去9个月出口至美国的新系列面板家庭产品有所增长。

在越南市场方面，堡发资源也开始装运几套新系列的卧室套件，预计未来数月的生产工作将会顺利进行。整体而言，该集团预计，本财年余下季度将延续这股趋势。

该集团表示，尽管产品需求依然强稳，但集团仍面临营运和市场方面的挑战。

“由于全球通胀成本压力，我们一直面临原料和劳工成本上涨的问题。虽然我们致力于提高厂房制造销量，但我们在控制外部供应和成本压力的力量有限。”

“随着消费者对时尚和更廉价产品的需求，市场竞争也变得更加剧烈。”

堡发资源也指出，由于其他厂商的竞争，产品价格也随之下降。

“家具业也必须满足不断变化的人口特性，特别是对于那些消费能力较低的年轻家庭，以及更偏好在网络购买商品和待组装家具的消费者。”

（编译：倪嫣鴽）

SUMMARY OF KEY FINANCIAL INFORMATION 31 Jul 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Jul 2017	31 Jul 2016	31 Jul 2017	31 Jul 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	151,479	125,647	442,584	383,170
2	Profit/(loss) before tax	11,673	12,239	45,387	33,916
3	Profit/(loss) for the period	9,479	9,956	37,486	27,761
4	Profit/(loss) attributable to ordinary equity holders of the parent	9,656	9,993	37,931	28,006
5	Basic earnings/(loss) per share (Subunit)	4.52	4.68	17.76	13.12
6	Proposed/Declared dividend per share (Subunit)	3.00	2.00	5.00	6.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.2810		1.1397