Better dun bet with your marriage money leh... later if luck no good, have to do reception dinner at 'tai pai tong'..

sure boh.. let me give u huge hint..

USD

get it?

yah yah.. pics or GTFO.. hahaha

yes.. but u know WHY usd is relevant to furniture industry?

cement is currently over supply in malaysia, saw the report and uptake from analyst report

most cement makers now starting to give rebate..

Free dividend for 1Q...

wah this i not high level enough to judge..

you big sifu.. you give FV lar...

fuyoh... inari can really smash through the roof today...

Not bad for ONE analyst report.

Just telling what i think mah...

Yes Malaysia furniture industry is 90+% exported and sold in USD terms.. But all profits reported will be RM...

The sector will be hot as long as USD/RM exchange stays high...

even war also.. in ukraine only mah... americans still buys furniture right?

Except recession at US, ppl no money buy furniture then this sector can close shop.

lets do the maths..me no professor

wood - paid in rm
salary - paid in rm
other expenses - paid in rm

sales - received in USD

Furniture is very very competitive industry, most of the time they survive on <5% margin hence when USD drop many get stuck and most lose money with factory equipment underutilized. Coupled with the bad housing market (hence less demand) in us since the financial crisis in 2008.

From 2008-2013 many malaysian saw mills & furniture manufacturer closed, even in cheap labor company in Indonesia was not spared, >50% close shop. No one want to do this kind of business and capacity drop by half. This created a product vacuum where only the fittest and lowest cost survived.

Now is reversal. As USD appreciate, product cost in RM and IDR is now much more competitive against other country and suddenly margin increase to >10% based on exchange rate differences. This enable them to lower price, make higher margin and have higher sales at the same time.

Now, this WILL not last forever, as now the exciting margins will prompt previous companies which is closed down to restart operation or new entrants will come in again. once reach saturation OR USD drop OR other competitor comes in then this sector will start to cool down due to overcapacity (just like recent gloves was so over capacity, glove makers slash 10-15% off selling price to move product, especially nitrile)

I recommended him INTP as a cement stock.. he scold me............


*runs away....*

sure got lar.. i am already in since 1X,500....

NO stock is buy and forget.. ALL stocks need to be monitored.. only difference less or more only..

This post has been edited by gark: Mar 19 2014, 05:24 PM

write off only ler...

No hard sell lah.. just explain the facts. Did tell in there this phenomenon will not last forever one.. so not golden ticket. All listed down all the significant risks...

Yeah.. i saw the reply.. i always skeptical on TP. Anyway was right wat.. PE still at ~10x...if based on last Q report.

And lucky amerton did perform well..

This post has been edited by gark: Mar 19 2014, 08:13 PM

BTW i am now reading financial fraud reports foreign listed china companies...

Very nice read , they write better than detective novel. The lengths some of these analyst goes to check on these companies put the auditors to shame (the current one i am reading is audited by PwC since 2011... )

NQ Mobile... http://www.muddywatersresearch.com/wp-cont...NQ_10242013.pdf

If got time highly suggest to read other companies (some of them even funnier) at ...

http://www.muddywatersresearch.com/research/

This post has been edited by gark: Mar 19 2014, 08:16 PM

Normal for them change tp like changing clothes... that is why never believe their tp....

Wah so clear your charts... seems like homer is still the laggard despite having the best fundamentals vs all 4..

Wah so bullish on furniture stock.. i thought you play divvy stocks?

Then horse one.. is 'cacat' horse issit? run slower than others..