Friday, April 28, 2017
Posted by BIG BOY at 8:32 PM
Posted by BIG BOY at 8:28 PM
Thursday, April 27, 2017
Posted by BIG BOY at 5:53 PM
求，本是一件好事。求学，求财，求事业，求姻缘，求……求的事情越多，说明人的欲望也就越大。但我们无论求什 么，都要有一个度，不要超过这个度，超过了就会与预想的结果背道而驰。求得越多，人会变得渐渐不满足，总是不满足，人便会有贪念，贪得无厌便为大祸。其实 每个人都有对生活的需求，只是大小和多少不同而已。那些淡泊名利地位和金钱的人，他们不是无所求，只是不贪婪，不虚妄，活得自然而潇洒，隐隐透露出侠者 风，雄筋傲骨，处世泰然。这样的人是最值得敬重的人。
Posted by BIG BOY at 5:46 PM
Wednesday, April 26, 2017
Tuesday, April 25, 2017
Posted by BIG BOY at 10:53 PM
Monday, April 24, 2017
恒毅。。。出了闻名大骗子。。。。去年还搞到。。。一些人说学校好， 教KAJANG 育华中学学这间学校实施“军装头”。。。。有了军头，陆军头， 学校教育就会好。出人才。。去年育华家长妈妈声， 什么年代。。还来陆军头。。如今真相来了。。。全球轰动。。http://www.enanyang.my/news/20170424/%E4%BA%BA%E7%B1%BB%E8%B4%AA%E5%A9%AA%E6%88%90%E5%B0%B1%E4%BB%96%E4%BB%AC%E9%BB%8E%E6%B7%BB%E5%8D%8E/
一些人说， 要学恒毅， 搞陆军头。。。
一些人说， 要学恒毅， 搞陆军头。。。
Posted by BIG BOY at 8:45 PM
Thursday, April 20, 2017
Maruti Suzuki has launched new VXI+ variant for its one of the most selling hatchback WagonR. The latest VXI+ variant is loaded with features like alloy wheels, dual airbags, projector headlamps, side skirts, anti-lock braking system with electronic brake - force distribution system, as an option.
Posted by BIG BOY at 11:44 PM
Honda WRV comes with a 1.2-litre i-VTEC petrol and 1.5-litre i-DTEC diesel engine. The car offers best in class fuel efficiency of 17.5kmpl for petrol, while the diesel engine offers 25.5kmpl. For safety, the manufacturer is offering dual-front airbags along with ABS and EBD as standard.
Honda Cars India has launched its compact crossover, the WRV. The crossover is available in two trims -S and the top spec 'VX'. The car is designed on Jazz platform and is expected to compete against the Ford EcoSport and the Maruti Suzuki Vitara Brezza.
Posted by BIG BOY at 11:34 PM
It is involved in the development, manufacturing and distribution of tyre retreading materials and tyre retreading operations, operating across the value chain.
Commanding c.22% market share for tyre retreading materials in Malaysia, the Group’s growth going forward will focus on i) increasing its export sales to overseas markets, ii) enhancing its product range through new offerings, value-adding and focus on premium products, and iii) improving efficiencies.
Streets are therefore valuing Eversafe Rubber with a fair value of RM0.40 pegged to a 10.0x PE multiple, based on FY17F EPS of 4.0sen.
The IPO is expected to raise approximately RM17.3m from the issuance of 48m new shares, with c.73% of its proceeds to be utilised for capacity expansion and enhancing automation of its operations.
Eversafe Rubber’s growth will focus on i) increasing its export sales to overseas markets, ii) enhancing its product range through new offerings, value-adding and focus on premium products, and iii) improving efficiencies. The Group has been able to grow its overseas revenue to contribute c.57.1% for 9MFY16 from c. 54.8% in FY15.
As one of the prominent manufacturers of tyre retreading materials in Malaysia, Eversafe Rubber is able to compete against its competitors in securing new customers as well as retaining existing ones, coupled with establishing a wide global outreach with exports to at least 23 countries for FY15 onwards. Its tyre retreading solutions with customisation capabilities furthermore creates value enhancements to reinforce its competitiveness in the market.
Its catalysts include i) increase in commercial vehicles in Malaysia, which is expected to generate higher demand for retreaded tyres, ii) continued growth in China and Brazil for rubber compounds, iii) higher rubber prices which can translate to higher ASP with effective management of costs.
Downside risks among others include (i) volatility in prices of raw materials, (ii) fluctuation in foreign exchange rates and (iii) competition from existing and new market entrants locally and overseas.
Posted by BIG BOY at 8:01 PM
Tuesday, April 18, 2017
Monday, April 17, 2017
Posted by BIG BOY at 10:40 PM
Friday, April 14, 2017
Wednesday, April 12, 2017
Given the weakening of Ringgit, Padini is taking a passive approach in its stores expansion plan for FY17 and FY18 as compared to FY16 when the group opened five new Padini Concept stores and nine new Brands Outlet stores in Malaysia.
Management guided that for FY17, the group will open 3 new stores in Malaysia, i.e.: Vincci and Padini Concept stores in MyTown Mall as well as a Padini Concept Store in Melawati Mall in Kuala Lumpur, and these new stores would make full-year contributions from FY18 onwards.
For FY18, Padini is expected to open one Brands Outlet store in Genting Premium Outlet and currently in negotiation to open one store in Aeon Kempas, which is expected to open by end-2017.
Other than that, given Padini’s price sensitive target market, management guided that the group will continue adopting its competitive pricing strategy for FY17 to stimulate sales. Therefore, observers can expect no increase in selling price and the topline revenue growth would all be driven by volume and contribution from new stores.
Furthermore, in order to keep up with the fashion trend, new clothing lines would be released almost every week. Note that, end of 2016 Padini launched an active wear collection to cater to the active and health cautious market. Streets are positive as this would enable the company to fend off competition from rivals like Cotton On and H&M.
Management guided that the gross profit margin is expected to be below 43% level (vs. 41.7% for FY16) for FY17. This is a tad lower than the average gross margin of 45.2% over the past five years.
The increase in cost can be attributed to unfavourable ringgit movement in recent years which has inflated the cost of sales. Currently (April 2017), it is estimated that 90% of the group’s cost of sales are transacted in Chinese Yuan.
As such, management explained that the group is always on the look-out for suppliers from other countries to diversify the risk. Padini has tested production from Bangladesh, which is believed to be cheaper than China. However, due to lack in support industry i.e. infrastructure and logistics, the turnaround time from Bangladesh is slower. Therefore, Padini is currently still heavily reliant on production from China.
To mitigate the cost pressure, the company would continue closing down underperformed consignment stores and open more Padini Concept and Brands Outlet stores. In 2016, the company had closed down 79 consignment stores in Malaysia.
In terms of e-commerce channel, Padini launched the group’s first e-commerce platform in 2015. Currently (April 2017), the turnover from the platform accounts for less than 1% of the group’s total revenue as sales are only limited to within Malaysia. However, sales volume did show exponential growth i.e. more than 1000% YoY for FY16.
Observers view the online ecommerce platform as a requirement to prepare Padini to compete effectively within the retail market in the future. Although the Malaysia ecommerce market is a relatively young market as compared to the rest of the world, the future growth potential is enormous.
Padini is also exploring possible ventures in other South East Asian countries through franchising of Vincci brand stores. Other than that, after closing 12 stores in Saudi Arabia in FY16, Padini is still interested in continuing the business in the country subject to finding a suitable franchisee. This is to ensure the best service quality to customers and to enhance brand awareness.
Potential downside risks to our call are i) weakening of Ringgit to Chinese Yuan, ii) unexpected opening of new stores and iii) recovery in consumer sentiment.
It's easy to know if the economy is doing badly. It has nothing to do with Facebook sharing. The banks should report lower profits or even losses. In Malaysia, I have not yet read about any bank reporting a loss thus far. Looking at the top three, Maybank announced that net profit for its latest quarter grew by 16 percent. Report here. CIMB announced its latest quarter with 27 percent up in net profits. and Public Bank grew their annual net profits by 3 percent. Well, perhaps only these three are growing while the rest are not? Let's look at the smaller ones; Affin Bank, MBSB and even Bank Islam. Affix Bank showed that it had a great quarter recently. Net profits grew 76 percent compared to a year ago. The latest quarter for MBSB compared to a year ago? One year ago, it suffered a loss and this quarter, it has fully reversed that. What about a niche bank called Bank Islam? It's yearly net profit fell by 13.8 percent but is still considered healthy, at RM139 million. In conclusion, the banks whether the biggest few or the smaller ones are generally going okay. Would this trend be continuing?
Posted by BIG BOY at 8:38 PM