今天继续向上，收市作RM1.38 ,这个是有关系的，其他出口股也看到上升情况，homeriz有更好的因素进入和持有,
7月Q3业绩我相信超过700万的净利和派息,这使更多人愿意守住,并等到9月份的红股与WARRANT后,
然后等WARRANT上市,再次高歌,10月Q4业绩将是喜悦的并再次享受股息,因此到今年底可以守着此股,看股开心,
哈哈,只供参考,进出自负.
Ringgit opens lower versus US dollar
Publish date: Wed, 20 May 2015, 10:30 AM
KUALA LUMPUR: The ringgit extended its losses to open lower against the US dollar on continued profit taking activities as investors remained on the sidelines ahead of the release of inflation data on Friday, dealers said.
At 9.05 am, the local unit declined against the US dollar to 3.6080/6120 from 3.5900/5930 on Tuesday.
However, against other currencies, the ringgit opened mixed.
It weakened against the Singapore dollar to 2.7010/7046 from 2.6956/6991 yesterday but appreciated against the yen to 2.9843/9883 from 2.9912/9942 previously.
The local currency eased against the British pound to 5.5935/6011 from 5.5814/5882 on Tuesday but strengthened against the euro to 4.0164/0220 from 4.0186/0227 yesterday. - BERNAMA
Homeritz - Visit to Homeritz’s 5 existing plants
Date: 20/05/2015
Source : HLG
Stock : HOMERIZ Price Target : 1.54 | Price Call : BUY
Last Price : 1.38 | Upside/Downside : +0.16 (11.59%)
Back
Highlights
We recently organised a plant visit to Homeritz’s 5 manufacturing factories in Muar, Johor and left feeling positive about its business model, manufacturing capabilities and prospects.
On average, Homeritz exports 158 containers of furniture product/month or utilisation of 80-85%. However, the group has experienced peak production of more than 172 containers. Presently, Homeritz’s production is still running on 1 shift per day of 8 hours for 6 working days per week.
Homeritz is currently running a total of 5 plants with total built-up area of 455,000 square feet. The 5 plants are located within close proximity, leading to quicker time-tomarket, more efficiency and greater economies of scale. Hence, the Group is able to have better control over production costs as well as quality of their products.
Factory A and B commissioned operation in Jan 05 and Nov 06 respectively. Factory A’s main functions include administrative office, storage of raw materials, drawing & cutting sections as well as studio & showroom while plant B is running sewing section.
Besides, factory D and E deals with woodworking section (dining chair frames and dining tables) and stainless steelworking section respectively.
After the wooden base frames, leather and other upholstery materials are received, fully treated and inspected by the quality control personnel, they will be sent to factory C for assembly work.
Homeritz owns a vacant land of about 84,507 square foot close to its 5 existing factories. Based on management’s guidance, RM3m is needed to set up a new factory. We expect this new landbank to be a re-rating catalyst for Homeritz in coming years.
Forecasts
Unchanged.
Rating
BUY
Positives
(1) the group could benefit from strong USD; (2) its revenue and PATAMI are expected to grow at CAGR of 8% and 14% respectively from FY14 to FYE16; (3) it has net cash per share of 23 sen; and (4) Still attractive FY15E DY of 3.8%, based on 40% payout ratio.
Negatives
Depreciation of USD vs. MYR; high raw material prices; high labour costs; unexpected economic downturn; and production or operational risks.
Valuation
Maintain BUY with unchanged TP of RM1.54 based on 10x P/E given increasing consumer demand in global market, stronger USD, margin expansion and solid earnings base.
Source: Hong Leong Investment Bank Research - 20 May 2015
7月Q3业绩我相信超过700万的净利和派息,这使更多人愿意守住,并等到9月份的红股与WARRANT后,
然后等WARRANT上市,再次高歌,10月Q4业绩将是喜悦的并再次享受股息,因此到今年底可以守着此股,看股开心,
哈哈,只供参考,进出自负.
Ringgit opens lower versus US dollarPublish date: Wed, 20 May 2015, 10:30 AM
KUALA LUMPUR: The ringgit extended its losses to open lower against the US dollar on continued profit taking activities as investors remained on the sidelines ahead of the release of inflation data on Friday, dealers said.
At 9.05 am, the local unit declined against the US dollar to 3.6080/6120 from 3.5900/5930 on Tuesday.
However, against other currencies, the ringgit opened mixed.
It weakened against the Singapore dollar to 2.7010/7046 from 2.6956/6991 yesterday but appreciated against the yen to 2.9843/9883 from 2.9912/9942 previously.
The local currency eased against the British pound to 5.5935/6011 from 5.5814/5882 on Tuesday but strengthened against the euro to 4.0164/0220 from 4.0186/0227 yesterday. - BERNAMA
Homeritz - Visit to Homeritz’s 5 existing plantsDate: 20/05/2015
Source : HLG
Stock : HOMERIZ Price Target : 1.54 | Price Call : BUY
Last Price : 1.38 | Upside/Downside : +0.16 (11.59%)
Back
Highlights
We recently organised a plant visit to Homeritz’s 5 manufacturing factories in Muar, Johor and left feeling positive about its business model, manufacturing capabilities and prospects.
On average, Homeritz exports 158 containers of furniture product/month or utilisation of 80-85%. However, the group has experienced peak production of more than 172 containers. Presently, Homeritz’s production is still running on 1 shift per day of 8 hours for 6 working days per week.
Homeritz is currently running a total of 5 plants with total built-up area of 455,000 square feet. The 5 plants are located within close proximity, leading to quicker time-tomarket, more efficiency and greater economies of scale. Hence, the Group is able to have better control over production costs as well as quality of their products.
Factory A and B commissioned operation in Jan 05 and Nov 06 respectively. Factory A’s main functions include administrative office, storage of raw materials, drawing & cutting sections as well as studio & showroom while plant B is running sewing section.
Besides, factory D and E deals with woodworking section (dining chair frames and dining tables) and stainless steelworking section respectively.
After the wooden base frames, leather and other upholstery materials are received, fully treated and inspected by the quality control personnel, they will be sent to factory C for assembly work.
Homeritz owns a vacant land of about 84,507 square foot close to its 5 existing factories. Based on management’s guidance, RM3m is needed to set up a new factory. We expect this new landbank to be a re-rating catalyst for Homeritz in coming years.
Forecasts
Unchanged.
Rating
BUY
Positives
(1) the group could benefit from strong USD; (2) its revenue and PATAMI are expected to grow at CAGR of 8% and 14% respectively from FY14 to FYE16; (3) it has net cash per share of 23 sen; and (4) Still attractive FY15E DY of 3.8%, based on 40% payout ratio.
Negatives
Depreciation of USD vs. MYR; high raw material prices; high labour costs; unexpected economic downturn; and production or operational risks.
Valuation
Maintain BUY with unchanged TP of RM1.54 based on 10x P/E given increasing consumer demand in global market, stronger USD, margin expansion and solid earnings base.
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