【EVERGRN 5101 交流专区】长青纤维板

hc.goh

不跌代表了没有买进的价值。
马股已经没有买进的价值了。
( 引用 8years 语录 )

8years

这股有点特殊，不能这样说。

hdcyng

Hume Industries Bhd

It struck a deal to sell its fibreboard manufacturing business, held via Hume Fibreboard Snd BHd, to Evergreen Fibreboard Bhd for RM213.3 million. The divestment is indeed typical of Quek’s tyle as he opted for the disposal even though the fibreboard business is key to Hume’s business. But more importantly, the deal is cash enriching for Hume.

The cariceeds of Rm170 million received from the sale will boost Hume’s cash board to RM301 million from Rm131 million currently. This translates into cash per share of Rm1.57 based on its share capital.

In addition, Hume would receive a 6.43% stake via an issue of new shares in Evergreen as part of the settlement. Evergreen is the country’s biggest medium density fibreboard manufacturer.
Hume said the proposed disposal would result in a gain of RM114 million, which will raise earnings per share by 64 sen. The sale expected to be completed in the fourth quarter 2008.

Going Forward …
Considering Hume is now flush with cash, what would its plans be for the pile? Will be on the lookout for new income-generation assets, now that it proposes to divest its fibreboard businesses?
Fibreboard manufacturing is one of the major earners for Hume. The division is categorized under the building board segment, which contributed 56% of Hume’s revenue for FY2007 ended June 30, 2008.
The other core business is manufacturing of concrete products. Besides, Hume has a furniture-making arm – 61.6% owned subsidiary Nara Industries Bhd. It also owns a 40.5% stake in Southern Steel Bhd, which is currently contributing good profit to Hume due to high steel prices.
The disposal of Hume Fibreboard will create a vacuum in the group.
The cash pile may come in handy for Hume to acquire some income generating assets to drive future earnings growth. When announcing the sale, Hume said proceeds from the proposed disposal would be utilized for working capital and future investments for the group.
But given the tough operating environment in the building materials industry, it is highly unlikely that Quek would want to poor in more money to expand the business unless there is a distressed sale that comes up. The group’s furniture manufacturing is no better either. It is facing fierce competition.
Not all Hume’s businesses are heading downhill though. Thanks to the escalating steel prices, Southern Steel is becoming a more significant investment for HIMB now. The steel maker has turned around and is faring well.

Looking at such impressive earnings figures, would Hume raise its stake in Southern Steel to boost revenue? Hume is the largest shareholder in Southern Steel, followed by Natsteel Asia Pte Ltd with 28% and Southern Amalgamated Cor Snd Bhd with 8%.
However, considering that price of Southern Steel has climbed up a lot, it may not be the ideal time for Hume to raise its stake. Instead it would be a good opportunity to divest at a premium.
Hume’s cash pile and its stake in Southern Steel puts the company in an interesting position. If it does not go on an asset acquisition, what would it do with the cash?
The prospects of the company being privatized are unlikely as it would be a costly affair. A privatization target is normally a company that is profitable and has steady strong cash flow. Hume does not fit the bill.
Perhaps an option is for Hume to be generous with divided payments to reward shareholders.

[ 本帖最后由 hdcyng 于 24-11-2008 07:38 PM 编辑 ]

hdcyng

RM759,106,000 x 56% = RM425,100,000
HUME MDF SALES JUNE07 to JUNE08 = RM425,100,000

goodluck88

王子哥哥。。。这篇文章哪里看到的。。。

hdcyng

原帖由 goodluck88 于 24-11-2008 08:18 PM 发表
王子哥哥。。。这篇文章哪里看到的。。。

"厉卖着"email来的

老散一名

哈哈，王子。那篇文講 d 什東東呀，老散我雞腸好唔掂 ge 啵。

8years

这些资料实在是完全性的误导大众的，有推高股价的嫌疑。

为什么，很简单，片面拿些隐藏性而不实际的数据来误导大众。真正的事实是：

08年hume的board 生意如下：
revenue: 420,813,000
盈利：26,078,000

大家看到了吗？这是在情况最优良的出现的业绩。evergreen管理层用大越10倍PE来收购。Humeind一年的盈利还不如evergreen07年一季的一半。所以最优秀的情况是帮助evergreen增加12。5%的盈利而已（以最优秀的情况计算）。

所以期望humeind下季帮忙evergreen带来好业绩的人实在是。。。。我也不知道讲什么，你们自己保重啦。

老散一名

原帖由 8years 于 24-11-2008 09:15 PM 发表
这些资料实在是完全性的误导大众的，有推高股价的嫌疑。

为什么，很简单，片面拿些隐藏性而不实际的数据来误导大众。真正的事实是：

08年hume的board 生意如下：
revenue: 420,813,000
盈 ...

有沒有救生衣出租醬話。

弹煮

整篇文章的精华就是：郭老板如何运用手上大笔现金。作者认为比较有可能的是“逐步”派发股息给股东。

还不快买HLIND？   

老散一名

原帖由 弹煮 于 24-11-2008 09:19 PM 发表
整篇文章的精华就是：郭老板如何运用手上大笔现金。作者认为比较有可能的是“逐步”派发股息给股东。

还不快买HLIND？   

唔好，老散我要留 d 老本取新抱仔。

弹煮

原帖由 老散一名 于 24-11-2008 09:28 PM 发表

唔好，老散我要留 d 老本取新抱仔。

那么我要运用ESOS来买了

老散一名

原帖由 弹煮 于 24-11-2008 09:29 PM 发表

那么我要运用ESOS来买了

唔......醬不如你買多 d 後嫁俾我 zhehui 啦！

弹煮

原帖由 老散一名 于 24-11-2008 09:34 PM 发表

唔......醬不如你買多 d 後嫁俾我 zhehui 啦！

不，那些钱我要拿来开脚底按摩院

老散一名

原帖由 弹煮 于 24-11-2008 09:37 PM 发表

不，那些钱我要拿来开脚底按摩院

到時家公我來幫襯下你又點話 j 。

8years

我也有兴趣“脚底按摩院”，要开记得通知我，让我一起投资。

老散一名

原帖由 8years 于 24-11-2008 09:43 PM 发表
我也有兴趣“脚底按摩院”，要开记得通知我，让我一起投资。

到時你唔係賺到老散我 d 銀兩囉。

弹煮

原帖由 8years 于 24-11-2008 09:43 PM 发表
我也有兴趣“脚底按摩院”，要开记得通知我，让我一起投资。

好。时机成熟了我再找你谈。

8years

那当然。

8years

好的。等你消息。 （我是认真的，我也想开一间这样的生意）