【EVERGRN 5101 交流专区】长青纤维板

mjchua

Year	1H2007	2006	2005
Revenue	359306	528102	457858
Gross Profit	78967	68601	54240
Net Profit	70324	65262	54022
Inventories	69549	63195	50361
Current Asset	319815	264081	172905
Non Current Asset	443164	403063	340339
Total Asset	762979	667144	513244
Current Liability	79947	68493	53479
Non Current Liability	172002	147237	61831
Total Liability	251949	215730	115310
Trade Receivables	52934	46086	48733
Other Receivables	38653	8046	10084
Total Receivables	91587	54132	58817
Trade Payables	36884	29768	24372
Other Payables	24677	20585	18052
Total Payables	61561	50353	42424
Cash and Bank Balances	120223	89051	63724
Shareholders's Equity	511029	451414	377877
EPS	0.146508	0.135963	0.112546
NTA	1.064646	0.940446	0.829029

[ 本帖最后由 mjchua 于 24-8-2007 10:54 AM 编辑 ]

mjchua

Wednesday November 1, 2006
Evergreen to buy plant, properties
KUALA LUMPUR: Evergreen Fibreboard Bhd said its wholly-owned unit Evergreen Fibreboard (JB) Sdn Bhd plans to
acquire a fibreboard plant and other properties for RM107mil from Takeuchi MDF Sdn Bhd.

The company said it would acquire all plant, equipment, machinery, tools, furniture, fittings, vehicles and inventories
owned by Takeuchi MDF.

The company would also acquire Takeuchi's contracts with its customers and suppliers, it said. The proposed acquisition would allow the company to broaden its product range and expand its business to include the manufacture and sale of “extra thin” medium density fibreboards, it said. – AFX-Asia

mjchua

Monday December 18, 2006

Evergreen looks to oil palm for new source of raw material MALAYSIAN fibreboard companies have to be innovative
and creative to maintain their leading edge in the international market. One of Asia’s top five fibreboard companies, Evergreen Fibreboard Bhd is strong in research and development (R&D) to keep Malaysia ahead of its rivals and to remain among the top three exporters of fibreboards globally. Executive director Kuo Jen Chiu speaks with StarBiz journalist ZAZALI MUSA.

STARBIZ: What is Evergreen’s focus in terms of R&D?
Kuo Jen Chiu: Our team is constantly doing research works on new wood species which could be turned into raw materials for fibreboard making. It is important for the company or even the industry to be able to use other than the existing wood species such as rubberwood and acacia.

This will not only lessen our dependency on any particular wood species but also help the company to widen its range of
fibreboards.

Finished fibreboard ready for export.

There are many tree species in the Malaysian jungles which could be cultivated in farms dedicated to supplying wood for the
industry. What needs to be done is to turn the jungle species into fast-growing trees – maybe less than five years – for the industry usage rather than waiting for 50 years.

Most plantation species can be used in fibreboard making and we need strong R&D activities by the industry to develop such
species.

Evergreen is currently working with the Malaysian Palm Oil Board to use oil palm as the main raw material for fibreboards.
It would be nice if the industry could use oil palm, as the country has an abundant supply of the trees.

Until today, there is no technology that can process oil palm, as the species is very special, with less fibre, and it is quite
challenging to extract the fibre.

Special equipment is needed to do that and right now, there are many ongoing R&D activities on oil palm. Hopefully, there will
be a breakthrough in three to five years.

A few mills in Malaysia are already producing fibreboard using 75% and 25% of rubberwood and oil palm respectively; the
challenge now is to use 100% oil palm.

The company does not rule out the possibility of exporting oil palm-based fibreboards in the future and the challenge is to find
the market for such product.

StarBiz: What is the prospect for the fibreboard-making industry?
Kuo: The industry’s prospect is expected to be bright in years to come, considering the upward trend of the price of fibreboard and the increase in demand globally.

The price of fibreboard has been going up almost 20% in the past three months and the uptrend is likely to continue in 2007.

The increase is attributed to the shortage of natural woods for furniture industry, which has to look at substitutes, and fibreboard is the answer.

It is also cheaper for furniture makers to use fibreboard in their products instead of using woods obtained from trees growing in the jungles.

Pressure from non-governmental organisations in developed countries to boycott tropical hardwood furniture also helps to
push up demand for fibreboards.

The industry must work together with research bodies in Malaysia and overseas to come out with new wood species as new sources of raw materials.

I believe that in years to come, there will be a technology breakthrough in the industry and users worldwide can expect new
fibreboard products from Malaysia.

StarBiz: What are the challenges in the industry?
Kuo: Malaysia should maintain its competitive edge in the international fibreboard-making industry by controlling its
production cost.

The country, together with Indonesia and Thailand, still enjoys lower costs due to the constant supply of woodchips from
domestic resources.

Producing a substitute product for natural woods, the industry must be able to produce fibreboard at lower costs and sell them
cheap.

Uncertainties in fuel oil prices do not have much impact on the industry as most fibreboard plants are already using biomass as a source of energy for production.

The only impact is from the glue resin because its raw material is petroleum by-products and glue resin makes up about 25% of the total production cost.

It will be good if the company can produce its own glue resin for internal consumption and at the same time, sell them to other
users.

The price of glue resin is likely to go up in the coming years as demand for the product has grown steadily in recent years.
The increase in the price of industrial glue is largely attributed to the strong demand by the wood and paper-based industries.

mjchua

Saturday May 12, 2007
Evergreen moves into Indonesia
By ZAZALI MUSA

SENAI: Evergreen Fibreboard Bhd is expanding into Indonesia to further strengthen its position as one of Asia's top five fibreboard makers, chief operating officer Kuo Jen Chiu said.

The company would start operations in Indonesia this year via new subsidiary PT Hijau Lestari Jaya. He said Evergreen had in March this year signed a memorandum of understanding (MoU) on a joint venture with PT Hutrindo Jaya Fibreboard Mfg Co and PT Uforin Prajen Adhesive Industry.

Under the agreement, Evergreen took up 51% equity in the new subsidiary while the Indonesian companies held 49%.

“There are only five fibreboard makers in Indonesia now and the prospect for the industry is bright,” he told
StarBiz after the company's AGM yesterday.

Kuo said three of the producers were in Sumatra, including Hijau Lestari Jaya in Palembang and one each in Java and Kalimantan.

He said although Hutrindo Jaya had a licence to produce fibreboard, it did not specialise in the product because it was more into supplying electrical and electronic items.

Kuo said the acquisition of land and buildings, plant and equipment by the two Indonesian firms was valued at US$21mil.
The Palembang plant would start operations in October this year with an annual production of 110,000 cu m of fibreboard in the first year and 300,000 cu m in the third year.

“We are looking at 50:50 for the domestic and export markets, especially to the Middle East,'' Kuo said.

He said rubberwood, the main raw material for fibreboards, was abundant in Sumatra and was 40% cheaper than local rubberwood.

Kuo said the company had a total production of 700,000 cu m a year – 280,000 cu m at its Batu Pahat plant, 320,000 in Hatyai, Thailand and 100,000 at its Permas Jaya facility.

He said the Indonesia plant and a third line installed at the Hatyai plant would boost the company's total annual production to 1.06 million cu m of fibreboard by the third quarter 2008.

For the financial year ended Dec 31, 2006, Evergreen's revenue rose to RM528.1mil from RM457.5mil in 2005. Its pre-tax profit jumped to RM67.73mil from RM54.25mil.

mjchua

Wednesday August 22, 2007
Evergreen seeks more efficiencies
Its profit margin widens despite price drop
By C. S. TAN

PETALING JAYA: Regional manufacturer Evergreen Fibreboard Bhd seeks more of the kind of production
efficiencies that has enabled it to widen its profit margins.

Evergreen announced a 49% increase in revenue to RM192.6mil for its second quarter ended June 30, while
its net profit rose by 128% to RM32.1mil compared with the same
quarter last year.

This was achieved in spite of a slight dip in fibreboard prices in the second quarter following a surge in prices
last year, executive director Kuo Jen Chiu told StarBiz yesterday.

The second-quarter net profit was a 13% improvement over the preceding quarter's earnings. “There were
production efficiencies. Plant utilisation was higher in the second quarter than in the first,” Kuo said.

The higher revenue was also partly due to the purchase of the assets of Takeuchi MDF for RM107mil cash in December last
year. The assets include a plant in Johor that makes extra-thin medium-density fibreboard (MDF) for the Japanese and Middle
Eastern markets.

In recent years, Evergreen expanded into Thailand, where it also operates an MDF plant.

In spite of this major expansion, the group was virtually debtfree. It held cash and financial assets of RM159mil against
borrowings that totalled RM162mil at end-June. This is partly due to its strong operating cashflow, which amounted to
RM88mil in the first half this year.

Evergreen is in the process of acquiring the assets of an MDF company in Indonesia for US$21mil (RM73mil). Kuo pointed
out that these assets included a glue plant.

The group's plant in Thailand had glue manufacturing facilities and a similar glue plant would be built in Malaysia too, he
added.

“Glue is one of our major costs. Glue accounts for about 30% of our total costs, about the same as wood, which also accounts for 30%.

“We're integrating upstream into our major costs,” he added. Hence, the company plans to acquire concession
leases for either rubber or acacia tree plantations so that about 20% of its wood requirements would be within
its control.

“We're also constantly reducing our overhead costs, which form 40% of our total costs,” he said.

Citigroup initiated coverage of Evergreen last week, forecasting that it would earn a net profit of RM125mil or earnings per
share of 26 sen this year. The investment bank, which set a target price of RM3.40 for the stock, said the group was the
biggest MDF maker in the country and it could become the biggest in Asia-Pacific when it expanded its Thai plant by the
end of next year.

Credit Suisse said in a note yesterday that Evergreen could post a net profit of RM109.5mil this year and its target price was
RM2.65. The stock closed at RM1.42 yesterday.

fernando_torres

哈哈，evergreen是我家乡的公司来的，里面做工的员工薪水很少下，老板吝啬下。就喜欢把我们的木材砍完才高兴。哈哈哈

8years

Revenue        359306        528102        457858

这么夸张？？第一季已经是去年的60%？？这样讲今年不就会成长120%？？

mjchua

原帖由 8years 于 24-8-2007 11:52 AM 发表
Revenue        359306        528102        457858

这么夸张？？第一季已经是去年的60%？？这样讲今年不就会成长120%？？

嘿嘿... 是啊... 是不是千里馬中的千里馬 ? Inventory, TR, TP 都在努力的控制中.

四伯爽

做什么没有人讲另外一间的 ？？？



M字头的
以前好像很多人讨厌这间公司的

[ 本帖最后由 四伯爽 于 24-8-2007 12:01 PM 编辑 ]

mjchua

原帖由 8years 于 24-8-2007 11:52 AM 发表
Revenue        359306        528102        457858

这么夸张？？第一季已经是去年的60%？？这样讲今年不就会成长120%？？

Revenue 沒有成長 120% 啦
倒是 net profit 會成長 100%

mjchua

原帖由 四伯爽 于 24-8-2007 11:59 AM 发表
做什么没有人讲另外一间的 ？？？



M字头的

Mieco ? 還在虧錢喔

khliew7

有空的话，去看看它的corp video,蛮好看下

mjchua

有自己的 Glue 廠 (收購回來的)
有自己的木材
有自己的發電廠 (借錢起的)

Cost :
Wood 30-35%
Glue / Resin 25-28%
Energy / Electricity 30%
Labour 10-15%

mjchua

在一系列的收購和 expand 下, 長青會成為東南亞最大的 MDF 生產廠

mjchua

在泰國的新生產線可以生產 1.5mm HDF

[ 本帖最后由 mjchua 于 24-8-2007 12:15 PM 编辑 ]

四伯爽

原帖由 mjchua 于 24-8-2007 12:00 PM 发表


Mieco ? 還在虧錢喔

赚钱的没兴趣

亏钱的比较有兴趣



亏钱 ？？？
去年他开始分股息了

四伯爽

原帖由 mjchua 于 24-8-2007 12:04 PM 发表
在一系列的收購和 expand 下, 長青會成為東南亞最大的 MDF 生產廠

不过要小心泰国的vanachai group
这条水去年乱丢货 搞坏市场价格

mjchua

原帖由 四伯爽 于 24-8-2007 12:06 PM 发表


赚钱的没兴趣

亏钱的比较有兴趣



亏钱 ？？？
去年他开始分股息了

你講的是不是 MIECO CHIPBOARD BERHAD ?
真的還在虧錢喔

四伯爽

是啦 就是MIECO咯

mjchua

原帖由 四伯爽 于 24-8-2007 12:08 PM 发表


不过要小心泰国的vanachai group
这条水去年乱丢货 搞坏市场价格

長青進入印尼市場... 是因為那是很大的市場
印尼是純 MDF importer
最大的問題... 2008 年之後, 中國還需要不需要大量的 MDF ?
因為長青出口很多到中國
目前中國是最大的生產國 但對 MDF 卻是淨進口國
若中國沒有那麼大的需求的話
這堆 MDF 會往哪裡推 ? 相信大家都知道答案了吧 ?

[ 本帖最后由 mjchua 于 24-8-2007 12:15 PM 编辑 ]