【LCL 交流专区】LCL 集中分析区。

teewengchen

原帖由 lmf_hau 于 4-9-2009 12:19 AM 发表



如果还没有信心，
附加一则新 ...

另外，基于在中东的工程成本支出高于预期，


因此，分析员下调其2009财年至2010财年的盈利预测，分别为58%和14%，


并且维持其“卖出”评级，而目标价格则从0.80令吉，下调至0.69令吉。

scsiang82

LCL in talks for strategic partnership        
Written by Joy Lee     
Monday, 14 September 2009 11:03  
  
KUALA LUMPUR: Interior fit-out services provider LCL CORPORATION BHD could see shareholding changes ahead as it finalises discussion for a strategic partnership with a listed Malaysian CONSTRUCTION company to help fund its Abu Dhabi projects.

Although group managing director Datuk Low Chin Meng did not elaborate on the nature of the partnership, he did not rule out the possibility of its partner taking up a stake in LCL. “All these are possible. We won’t deny it. Put it this way, it will go in stages,” he said in a media briefing recently.

Due to the fact that its partner’s role was to contribute  financially, Low acknowledged that the partnership could be tilted to its partner’s favour.

“Either party has to take a control and we have to be very clear-cut on each partner’s role. Because of the financial strength (of our partner), the partnership may be in their favour,” he said. Asked how much control of the loss-making company could be relinquished, Low said: “As long as it is a workable plan and it does not sacrifice shareholders’ benefit, I am open to any idea.”

According to filings with Bursa Malaysia, Low is LCL’s largest shareholder with about 44 million shares through a 29.21% direct stake and 1.55% indirect stake in the company. Other notable shareholders are group executive director Mohd Akib Abd Rashid and executive chairman Datuk Syed Ariff Fadzillah Syed Awalluddin. Both have recently pared down their shareholdings to 1.4% each.

The strategic partnership could be with a white knight amid a soft property market in Dubai, where most of its projects are based. The discussion, which is expected to be concluded by the end of this month, would enable the highly-geared LCL to tap into its partner’s coffers to finance its contracts in Abu Dhabi.

Low said the company had spent the past year marketing itself in Abu Dhabi and had been aggresively bidding for government-funded projects there. He added that it was close to securing projects there.

“With our high gearing of more than three times, we do not plan to further borrow to fund projects. We are very stretched at our current financial position, so we have to find other business models to continue in the UAE, especially in Abu Dhabi.

“Now, we are close to securing projects, so we need a strategic partner immediately. Once we have firmed up this strategic partnership, we will be working on our Abu Dhabi projects with them,” he said. The company’s shift in focus to the still cash-rich Abu Dhabi is its best bet for future earnings as the property market in Dubai is expected to take another year to recover.

LCL has seen three consecutive quarters of losses. For the second quarter ended June 30, 2009, it posted a net loss of RM18.1 million on higher year-on-year revenue of RM105.6 million. Low said it was looking at a better second half and hopefully a stronger fourth quarter to stay in the black this year.

However, a company official said it may be tough to be profitable this year. “But we will see narrowing losses towards the end of the year,” he said.

The company is also currently in the midst of recovering its claims and entitlements from property developers in Dubai estimated at more than RM200 million, which could take another eight to 10 months to materialise.

“We are also looking at projects in Doha. We have invitations for projects from Saudi and Bahrain. But we are more focused on moving into Abu Dhabi.

LCL will continue to position itself in Dubai unless the property sector becomes worse than it is now, then we may withdraw,” Low said.


This article appeared in The Edge Financial Daily, September 14, 2009.

scsiang82

業績欠佳董事售股　LCL機構前景蒙灰

（吉隆坡15日訊）LCL機構（LCL，7177，主板貿服股）09財政年次季的業績表現並不理想，再加上最近該公司董事在公開市場出售股權，讓人揣測該公司的基本面受損程度或許比現象中來得嚴重，讓該公司的發展前景蒙灰。


回顧LCL機構09財政年上半年的表現，該公司獲得3490萬令吉淨虧損。

這主要是因為中東工程出現成本超支的問題。

同一時間，該公司的執行主席及兩名董事分別在7月9日及9月9日，於公開市場拋售430萬股票。雖然這只是佔公司總股本的3%，但擔任要職的主席和董事的舉動，似乎顯示該公司的財務狀況或在危險的邊緣。

達證券認為，或許還有大家未知及低估的潛在問題，讓中東工程的超支問題更加嚴重。該公司已經因為這個問題，而連續三個季度出現虧損。雖然該公司聲稱，額外的成本是由訂單的差額所造成，會在較後逐漸恢復。不過，達證券認為該公司確認額外成本的基本原則已經有所偏差。

在資產負債表的素質方面，該公司的淨負債水平已經從一年前的1.8倍，增加至09財政年次季的3.6倍。這是因為中東工程的付款有所延遲。

據管理層表示，欠款及付款的狀況並無改善，至今已經拖延了2個月。雖然大筆的貸款是通過工程的融資，但公司還是必須承擔利息付款。

該公司的利息開銷已經從一年前的520萬令吉，增加至09財政年次季的660萬令吉。

由於公司董事的股權銷售反映出該公司的不穩定。因此，達證券將合理價下調至55仙，並給予「賣出」的評級。

khokhokho

原帖由 cchleong 于 18-9-2009 05:41 PM 发表
公司宣布买出价值5百多万的产业，
公司董事今天又发布公告卖票，
显示公司最近财政可能陷困。。。

這証明了，不斷貨款的上市公司，還一直不斷有外地合約，這當中就是有問題了，因為它一直和銀行借錢，所以一但出現了問題，帳目就會暴出來。

所以明顯，合約太多也是有問題，因為可以制造假合約，讓別人以為它的公司夠強大，之後就會有新合約，不過一但沒有真正的合約，就要不斷從自已資金拿出來幫補貼。

scsiang82

财务状况差劣　应尽快脱售LCL机构
二零零九年九月二十六日 晚上六时三十四分

（吉隆坡26日讯）LCL机构有限公司（LCL）宣布，在6月至9月之间该公司已脱售数项产业，即是（1）在加影的4单位工厂售价110万令吉；（2）在甲洞工业区的4层楼店铺售价90万令吉；以及（3）在Beranang马阁达工业区的工厂售价331万5000令吉。脱售产业筹集总共531万5000令吉资金。

达证券行在公司短笺中说，它获悉在加影以及Beranang的产业账面值分别是118万令吉及375万令吉。换句话说，脱售产业将蒙受亏损大约51万6000令吉。常年报告中没有列明在甲洞的产业账面值。

虽然小额亏损，达证券行认同管理层决定脱售一些不属核心的资产，以纾缓现金流量紧绌。筹集的资金预期可将该集团截至2009年6月止净负率3.55倍减低至3.5倍。但是，将不足以应付短期借贷3亿1800万令吉。

达证券行也获悉，该公司仍然有一些空置或是出租地段以及产业是在斯里肯邦岸、蒲种、双溪毛糯、绿野胜地市镇、白莎罗以及关丹。这些产业账面值超过500万令吉，如果脱售可将净负债率再减低至3.46倍。但是，由于成本超支以及延迟鸠收账款，导致相当高负债率仍然令人忧虑。

由于筹集的资金全部用作营运资金，达证券行对LCL机构的2009至2011财政年盈利预估保持不变。

这只股保持合理估值55仙不变，是基于2010历年每股盈利6倍。这是达证券行估计的建筑行业本益比15倍折扣60％，以反映该公司的差劣财务状况以及董事脱售持股，并维持<脱售>评级。

scsiang82

General Announcement

Reference No LC-090924-44734

Company Name	:	LCL CORPORATION BERHAD
Stock Name	:	LCL
Date Announced	:	28/09/2009

Type	:	Announcement
Subject	:	DEALING BY DIRECTORS AND PRINCIPAL OFFICER IN THE SECURITIES OF THE COMPANY OUTSIDE CLOSED PERIOD
Contents	:	We wish to inform that pursuant to Paragraph 14.09(a) of the Listing Requirements of Bursa Malaysia Securities Berhad, the Group Managing Director of the Company, Dato' Low Chin Meng, had notified the Company of the changes to his indirect interest of 2,214,000 shares held via Vyll Holdings Sdn Bhd ( formerly known as LCL Holdings Sdn Bhd ) as per Table below.
Announcement Details : DATE OF TRANSACTION NO. OF ORDINARY SHARES OF RM0.50 EACH PERCENTAGE OF SHARES AFFECTED TOTAL NO. OF SHARES HELD AFTER CHANGE CONSIDERATION (RM) 24.09.2009 2,214,000 1.55 41,805,000 (Direct) 2,214,000 (Indirectly held via Vyll Holdings Sdn Bhd ) Nil (Transferred to daughter)

scsiang82

Monday October 5, 2009
LCL to bid for more jobs in Abu Dhabi
By HANIM ADNAN


It shifts focus after slowdown in Dubai construction sector

DUBAI: LCL Corp Bhd will shift its focus to bid for more interior fit-out (IFO) contracts in cash-rich Abu Dhabi, after the completion of IFO jobs in major projects like Atlantis The Palm Hotel, Dubai Metro System, Dubai Mall and Dubai Marina Hotel in Dubai, said group managing director Datuk Low Chin Meng.

Given the current slowdown in the construction sector in Dubai, he said: “LCL does not want to miss out on the opportunities in Abu Dhabi’s bustling construction sector.”

“LCL will aggressively bid for IFO projects in Abu Dhabi particularly in government-funded projects such as hospitals, universities and clinics,” Low told a group of Malaysian journalists visiting LCL’s existing projects in Dubai and potential projects in Abu Dhabi as well as some top Malaysian government officials based in the United Arab Emirates (UAE).

The group will also be looking at setting up strategic partnerships with Malaysian construction and property companies as well as Middle Eastern groups with investments in UAE and other countries in the Gulf region.

Unlike the tight liquidity situation in Dubai following the global economic downturn, Abu Dhabi is actively forging ahead with mega projects such as commercial and residential buildings, roads, airport and rail systems estimated to be worth a whopping US$208bil.

The top 10 construction projects in Abu Dhabi include the US$40bil Khalifa City, which is similar to Malaysia’s Putrajaya, the US$39bil Yas Island tourist development, Burooj Properties’ US$24bil real estate community project and Saadiyat Island’s offshore development worth US$28bil.

There is also the US$22bil Masdar City, the world’s first zero-carbon, zero-waste city, the US$18.5bil mixed hospitality development Al-Raha Beach Complex, the US$7.5bil Al Reem Island mixed development and US$3bil Abu Dhabi Light Rail Project and a MGM Grand Hotel.

On the status of LCL’s IFO projects in Dubai, Low said: “We hope to complete most of our existing projects before year-end and are also in the process of recovering our claims and entitlements from property developers in Dubai estimated at not less than RM200mil.

“We have a strong case to make these claims and expect these claims to materialise in the next eight to 10 months. This will lead to a substantial reduction in our high borrowings currently.”

LCL has seen three consecutive quarters of losses.

For the second quarter ended June 30, it posted a net loss of RM18.1mil on revenue of RM105.6mil.

Low believes LCL will be looking at a better second half and hopefully a stronger fourth quarter to stay in the black this fiscal year.

Although LCL is consolidating its business in Dubai, he is confident that recovery in the emirate’s construction sector will likely take place next year.

According to the latest data by Dubai-based Real Estate Regulatory Agency, almost three-quarter of property development in Dubai have made construction progress despite the slowdown.

Of 552 projects, more than 72% showed some construction progress, while 17% were “stalled” and 11% “delayed.”

Jones Lang LaSalle, the world’s leading real estate investment and advisory firm, late last month said Dubai and Abu Dhabi were among the best positioned to attract long-term investment to their real estate markets over the next two to three years, noting that Dubai had made “considerable progress” towards recovery since last year.

The positive views on Dubai and Abu Dhabi are shared by Malaysian Ambassador to UAE Datuk Yahaya Abdul Jabar, Dubai-based Matrade senior trade commissioner Dzulkifli Mahmud and Export-Import Bank of Malaysia Bhd (Exim Bank) managing director Mohd Fauzi Rahmat.

Dzulkifli said UAE was Malaysia’s largest export market in the Middle East with exports worth RM12.4bil posted in 2009 from RM2.93bil in 2008.

Malaysia’s major exports to UAE include jewellery, electronic and electrical products and palm oil.

“Malaysian companies are well regarded in Dubai as having good reputation in terms of their on-track delivery and good quality products,” he said.

Fauzi said Exim Bank had been assisting Malaysian companies seeking facilities to undertake investments in the Middle East and African countries.

“To date, 10% of Exim Bank’s business is in the Middle East. So far, the bank has approved some RM365mil facility for this market,” he said.

Yahaya commended LCL’s performance in Dubai amid the tight credit situation there.

He said the company had set the benchmark for Malaysian companies operating in Dubai.

ecoung

原帖由 cchleong 于 6-10-2009 01:56 发表
LCL总营运长辞职 无关财务表现差
2009/10/04 6:04:47 PM
●南洋商报
（吉隆坡4日讯）陈进顺（译音）辞去LCL机构（LCL，7177，主板贸服股）总营运长职务，主要是因为个人原因，与该集团过去3个季度的较弱财务表 ...

读过这篇新闻，其实一向来不看好LCL，稍微翻查过这间公司的底子，大概可以发现她的债务挺高的，潜在风险相当高。
以前把手上的票亏本卖掉以后，就在也不敢买了...哈哈~

的钱

原帖由 cchleong 于 7-10-2009 10:18 发表
今天又有动静鸟

嘻嘻！跑风的股。。。驾船那个可能是从海南岛游泳过来滴。

ecoung

原帖由 cchleong 于 7-10-2009 10:18 发表
今天又有动静鸟

觉得有点不太对劲。
今天好像是二、三线股往上冲的趋势，难道，今年第二波的牛又来了？
也许是Budget前的来潮....
LCL，还是不可碰...哈哈哈~

feilong

今天好像一片歌舞升平。。。。没有赚到好伤心。

Darld

我觉得LCL机构董事经理拿督刘增明的野心太过大了，一下子进军迪拜，后来又丢烂摊子在迪拜，现在又想进军别的国家。他野心大，可是能力却不对称。

ler8807

:@ :@ LCL 是真的是老千工司。。我們去年在迪拜的工錢到現在還沒拿你們知道嗎。。。他拖欠我們幾百人的工資這是真的事情。。。

ler8807

去年中在迪拜就已經不好了。工都不跑。報紙的股評好說賣進，報紙也是老千

EOD

小弟纯粹就技术分析，根据 AdvanceGet chart 的走势根大家分享

scsiang82

更新: October 22, 2009 02:33

雙威LCL聯營
爭取室內裝潢合約


（吉隆坡21日訊）雙威控股（SUNWAY，4308，主要板建築）將和LCL機構（LCL，7177，主要板貿易）聯營，在阿布達比爭取室內裝潢（IFO）合約。

該公司向馬證交所報備說，獨資子公司雙威建築（Sunway Construction）與LCL機構達成協議，收購名為Best Expertise公司，並改名為雙威LCL室內（Sunway-LCL Interior）。

雙威LCL室內將在阿布達比開設分公司，以競標和展開室內裝潢工作。

雙威建築目前透過子公司，參與阿布達比兩項建築聯營工程；LCL機構則擁有豐富經驗，最近也在迪拜完成一些重大的室內裝潢工程。

“有著兩家公司的寶貴經驗，雙威LCL室內可發掘阿布達比的室內裝潢潛在商機。”

雙威控股和LCL機構將透過內部基金，資助雙威LCL室內的投資。

暗黑之神

今天为什么跌得那么厉害？》？？？？？亏惨了

小河

呜。。。！呜。。。。！
没得剩了........
没人懂吗？？？？yyyyyyyyyy????

scsiang82

更新: November 17, 2009 00:18

下不為例
迪拜營運艱難
LCL或虧5110萬


（吉隆坡16日訊）LCL機構（LCL，7177，主要板貿易）旗下迪拜（Dubai）業務受挫，背負大筆債務，券商提高虧損預估至5110萬令吉，公司明年料難以註消。

聯昌證券研究分析報告指出，LCL機構本月底將公佈09財年第三季業績，若情況無惡化，虧損料接近1800萬令吉。

“迪拜業務仍舊疲軟，收款面對挑戰，我們因此調高09財年虧損預測，由1310萬令吉擴大至5110萬令吉。”

分析員認為，LCL機構2010財年或持續虧損，加上迪拜營運狀況艱難，因此以建築業1.8倍的賬面值，折扣股價評估60%。

債務將再擴大

“按此計算，我們下修LCL機構的目標價格，由68仙下調至54仙，維持‘落后大市’（Underperform）投資評級。”

聯昌研究指出，LCL機構在迪拜的營運狀況甚棘手，致使公司截至今年6月底的凈負債率達3.6倍，共欠下3億8400萬令吉債務。

“預測LCL機構于2010財年次季的債務將再度擴大，料再虧約4000萬令吉。”

經濟前景尚未穩定，不認為該公司可註消債務，除非迪拜的房地產業能在明年強勁復甦。

凈負債率若未能改善，將影響公司未來的營運開銷。

LCL機構的營運開銷多是透過銀行融資，未來或不再獲得融資支援。

董事局換血拖累股價

LCL機構董事局大換血，加上股東大舉脫售股權，衝擊今日股價全天走低。

本月初，公司主席拿督賽阿里夫和執行董事彭友豐宣佈辭職，主席一職由董事經理劉增銘取而代之。

上週五（13日），又有5名非執行董事離職，聯昌研究對LCL機構董事局大換血一事深感意外，並預計將影響股價走勢。

劉增銘近期頻頻脫售股權，本月10日至12日短短3天，共脫售1715萬股，持股權從30.7%減至18.8%，嚴重影響LCL機構股價走勢。

LCL機構今日繼續跌跌不休，以62仙報開，跌0.5仙后，跌幅逐步擴大，交易1分鐘后即滑落至60.5仙。

休市時，報60仙跌2.5仙，共有424萬9400股易手。

午盤時一度下探至56.5仙，閉市時收57仙，跌5.5仙，成交量達933萬4500股。

scsiang82

更新: November 17, 2009 00:18

下不為例
迪拜營運艱難
LCL或虧5110萬


（吉隆坡16日訊）LCL機構（LCL，7177，主要板貿易）旗下迪拜（Dubai）業務受挫，背負大筆債務，券商提高虧損預估至5110萬令吉，公司明年料難以註消。

聯昌證券研究分析報告指出，LCL機構本月底將公佈09財年第三季業績，若情況無惡化，虧損料接近1800萬令吉。

“迪拜業務仍舊疲軟，收款面對挑戰，我們因此調高09財年虧損預測，由1310萬令吉擴大至5110萬令吉。”

分析員認為，LCL機構2010財年或持續虧損，加上迪拜營運狀況艱難，因此以建築業1.8倍的賬面值，折扣股價評估60%。

債務將再擴大

“按此計算，我們下修LCL機構的目標價格，由68仙下調至54仙，維持‘落后大市’（Underperform）投資評級。”

聯昌研究指出，LCL機構在迪拜的營運狀況甚棘手，致使公司截至今年6月底的凈負債率達3.6倍，共欠下3億8400萬令吉債務。

“預測LCL機構于2010財年次季的債務將再度擴大，料再虧約4000萬令吉。”

經濟前景尚未穩定，不認為該公司可註消債務，除非迪拜的房地產業能在明年強勁復甦。

凈負債率若未能改善，將影響公司未來的營運開銷。

LCL機構的營運開銷多是透過銀行融資，未來或不再獲得融資支援。

董事局換血拖累股價

LCL機構董事局大換血，加上股東大舉脫售股權，衝擊今日股價全天走低。

本月初，公司主席拿督賽阿里夫和執行董事彭友豐宣佈辭職，主席一職由董事經理劉增銘取而代之。

上週五（13日），又有5名非執行董事離職，聯昌研究對LCL機構董事局大換血一事深感意外，並預計將影響股價走勢。

劉增銘近期頻頻脫售股權，本月10日至12日短短3天，共脫售1715萬股，持股權從30.7%減至18.8%，嚴重影響LCL機構股價走勢。

LCL機構今日繼續跌跌不休，以62仙報開，跌0.5仙后，跌幅逐步擴大，交易1分鐘后即滑落至60.5仙。

休市時，報60仙跌2.5仙，共有424萬9400股易手。

午盤時一度下探至56.5仙，閉市時收57仙，跌5.5仙，成交量達933萬4500股。