【LIIHEN 7089 交流专区】利兴工业

哭哭鸟

SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2016

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2016	30 Jun 2015	30 Jun 2016	30 Jun 2015
		$$'000	$$'000	$$'000	$$'000

1	Revenue	144,510	138,275	309,903	250,357
2	Profit/(loss) before tax	22,248	17,456	50,103	31,327
3	Profit/(loss) for the period	17,019	12,661	38,111	23,405
4	Profit/(loss) attributable to ordinary equity holders of the parent	17,019	12,661	38,111	23,405
5	Basic earnings/(loss) per share (Subunit)	9.46	7.03	21.17	13.00
6	Proposed/Declared dividend per share (Subunit)	4.00	2.33	8.00	4.33
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.3499		1.2770

Remarks :

The preceding year's EPS and Declared dividend per share were restated to reflect the retrospective adjustments arising from the bonus issue and share split.

哭哭鸟

EX-date	06 Sep 2016
Entitlement date	08 Sep 2016
Entitlement time	04:00 PM
Entitlement subject	Second interim dividend
Entitlement description	Second Interim single tier dividend of 4 sen per ordinary share of RM0.50 each in respect of the financial year ending 31 December 2016
Period of interest payment	to
Financial Year End	31 Dec 2016
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	PLANTATION AGENCIES SDN BERHAD3rd Floor, Standard Chartered Bank Chambers2, Leboh Pantai10300Tel:042625333Fax:042622018
Payment date	23 Sep 2016
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	08 Sep 2016
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.04
Par Value	Malaysian Ringgit (MYR) 0.500

哭哭鸟

LIIHEN(7089)盈利YOY进步34%，手持95.774 mil净现金，派息4仙！
Sunday, August 21, 2016
http://harryteo.blogspot.my/2016/08/1327-liihen7089yoy3495774-mil4.html

LIIHEN(7089)在星期五公布了不错的业绩，YOY进步了34%。不过QOQ连续进步的Trend已经停了下来，毕竟没有一家公司可以永远保持盈利只上不跌。公司派发了4仙的股息，加上Q1就已经有8仙的股息了。以LIIHEN现在手上的现金来看，FY2016的派息要超过FY2015并不是什么难事。

以下是LIIHEN的一些数据供大家参考.

• LIIHEN的营业额额以及税前盈利分别下跌了12.6%以及20%，主要是因为美金按季下跌了4.76%。
• 不过跟去年同期相比的话，美金汇率从去年Q2的3.66上涨到这个季度的4.00，涨幅大约有9%。所以公司的Net profit YOY还是上涨了34%，保持着不错的成长。
• 此外，外汇方面LIIHEN在Q2有2.874 mil的盈利，相比上个季度的外汇亏损5.68 mil好上不少。
• 不过大家要仔细留意的话，假设扣除2.874 mil的外汇盈利，Liihen的Operating profit其实比之前两个季低了不少。
• 因此管理层必须从其他方面下手以及抵消外汇的因素，比如出产新的产品或者获得更多的的新客户。
• 此外，公司手握的现金从113.774 mil增加到125.829 mil，而总借贷也从31.845下滑到30.055 mil。因此公司手握的净现金高达98.774 mil，相当于每股53仙。
• 而且LIIHEN还吃保持着良好的收账记录，trade receivable还是比trade payable多。也意味着公司收账的速度良好，而supplier也肯让他欠账，因此公司现金流非常良好。
  

• 以上是公司过往10年的派息记录，可以看到公司每年都会派发股息。
• 过去5年的派息记录平均都保持在45%以上，而今年公司的EPS是21.14，派发出的股息已经有8仙。相信接下来要保持每个季度4仙的派息应该不难。
• 而且公司已经连续3年保持派发特别股息，不知道今年会不会继续这个传统呢？？
  

LIIHEN无疑是一家很好的高股息股，不过在缺乏美金光环以及趋势的加持下。LIIHEN今年已经很难保持FY2015高速的成长，因此公司必须在其它方面下苦工以保持盈利增长。公司现在手持大笔现金，他们其实有很多选择。

比如开发新的市场，增加产线，多元化自己的产品，增加R&D开销等等。有钱又大方派股息的公司，基本面是不会差到哪里的。

以上纯属分享，

Harryt30
15.55p.m.
2016.08.21

哭哭鸟

Why Lii Hen share price can go higher
ByAaron HeePosted on June 5, 2016
http://koonyewyin.com/2016/06/05/why-lii-hen-share-price-can-go-higher/

As you know most of the exporting company shares reported reduced profit in their recent quarter due to the strengthening of our Ringgit. As a result the share prices of Focus Lumber, Latitude etc fell more than 20%. But Lii Hen share price is shooting up like a rocket and I wanted to know how they managed to report historical high revenue and profit.

I attended Lii Hen AGM on 1st June 2016 and I found out how they could overcome US$/ Ringgit exchange rate and managed to earn historical profit. They have more than 50 American distributors and they limited the quantity of their products to each of their customers. In this way, they always wanted more to buy.

Moreover, they based on the exchange rate of Rm 4.10 to one US$ to fix their selling prices for their products. They have been increasing their production every year in the last 10 years.

In the last quarter, they reported historical high profit and revenue. Its revenue was 50% more than last year but its profit is 100% more than last year.

Recently a big buyer from China visited their factory and obviously interested to buy. This is a new big market. They will be sending their 1st shipment in August.

I also asked how they could overcome the current labour shortage unlike other manufacturers. Besides their own factories, they have about 30 small subcontractors nearby. Most of them are making furniture parts which will be assembled, polished and painted by their own factories. Using subcontractors is the most efficient way to save cost and time. Lii Hen does not need to provide and maintain factory space. The subcontractors just extended their garages and work from there.

All these are reassuring us that they will continue to make increasing profit. Profit growth prospect is very good and it complies with my share selection golden rule.

At the AGM, I suggested to issue free warrants which is like giving aung pow to all the shareholders. I think the news is out as shown by the recent increase in volume and share price.

Basing on the its 1st quarter EPS of 11.4 sen and bonus warrant issues, I believe the last closing price of Rm 3.30 is still cheap, selling P/E below 10.

Most of those people who have sold to take profit earlier would not admit their mistake and buy back at a higher price than the price they sold. To be a super investor, you need to change your small trader mentality. You must forget the past. Examine the facts in front of you carefully and make decision. Would you buy Focus Lumber because it also reported 30 sen eps for last year and its 4th quarter eps was 10 sen. It share price has fallen more than 29%. Lii Hen also reported the same result.

The advantage of subcontracting

You must remember, when you employ a worker, you are actually paying for his time which is not link to his production. A subcontractor can closely supervise and see that his workers’ hands are moving all the time.

We use a lot of subcontractors in our construction works. We always sub contract out work where ever possible. Now I remember a good lesson I learned when I first started as a contractor more than 50 years ago. I used to wonder how my competitors could always submit a cheaper tender than me. Their prices were even cheaper than my cost.

At that time, there were a lot of tenders for building Government quarters. For example my competitors subcontract the laying of roof tiles. The subcontractors included labour and breakages.

I would normally allow 5% for breakages to submit my tender. In my case when my lorry load of tiles arrived on site, one man would climb up the truck and throw the tiles to another man at the roof top to catch. Of course, he missed his catches quite often which increased my cost.

But, my clever competitor would sub contract his title laying work which included the cost of labour and breakages. In his case, the workers carried and walked up a temporary staircase with a few tiles at a time and guaranteed minimum breakages.

哭哭鸟

SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2016

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2016	30 Sep 2015	30 Sep 2016	30 Sep 2015
		$$'000	$$'000	$$'000	$$'000

1	Revenue	145,050	144,249	454,953	394,606
2	Profit/(loss) before tax	21,221	18,923	71,355	50,250
3	Profit/(loss) for the period	16,178	15,462	54,320	38,867
4	Profit/(loss) attributable to ordinary equity holders of the parent	16,178	15,462	54,320	38,867
5	Basic earnings/(loss) per share (Subunit)	8.99	8.59	30.18	21.59
6	Proposed/Declared dividend per share (Subunit)	4.00	3.00	12.00	7.33
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.3999		1.2771

icy97

EX-date	13 Dec 2016
Entitlement date	15 Dec 2016
Entitlement time	04:00 PM
Entitlement subject	Interim Dividend
Entitlement description	Third interim single tier dividend of 4 sen per ordinary share of RM0.50 each in respect of the financial year ending 31 December 2016
Period of interest payment	to
Financial Year End	31 Dec 2016
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	PLANTATION AGENCIES SDN BERHAD3rd Floor, Standard Chartered Bank Chambers2, Leboh Pantai10300Tel:042625333Fax:042622018
Payment date	28 Dec 2016
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	15 Dec 2016
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.04
Par Value	Malaysian Ringgit (MYR) 0.500

哭哭鸟

【奶牛家私股】- LIIHEN(7089)全年盈利进步31%, 派发10仙SPECIAL DIVIDEND!
Wednesday, February 22, 2017
http://harryteo.blogspot.my/2017/02/1389-liihen708931-10special-dividend.html

LIIHEN(7089)虽然没有交出历史新高的盈利，不过EPS = 11.4 cent也算是历史第二高，YOY进步12%。相比FY2015, LIIHEN全年的营业额以及净利分别进步了 14%以及31%。最让人惊喜的是LIIHEN竟然派发了10仙的Special Dividend，比去年足足多了4分。而且根据以往的管理，4月/5月应该会再公布4仙的FINAL Dividend，FY16全年的派息有望达到26仙，

以下是LIIHEN从2012 -17年的股价涨幅：

2012 = 55.69%
2013 = 23.85%
2014 = 73.91%
2015 = 185%
2016 = 19.92%
2017 = 10.34%

LIIHEN的股价连涨6年，今天股价收在RM3.52的历史新高，长期持有LIIHEN这家奶牛股的投资者一定是【笑】了。

最新一个季度的Net Profit Margin = 12.17%,主要是因为Q4的美金汇率 = 4.32， 比去年同去的4.27高了不少。此外，公司营业额RM168.506 mil也是历史新高，主要是因为销售的volume上升了10%。

以全年的盈利来看，LIIHEN的盈利短短的两年从RM28.776 mil不停上涨到现在的RM74.736 mil，全年盈利站在历史新高。而股价也在今天突破历史新高RM3.52.

**笔者包括了未来可能会派发的4仙Final Dividend，如有错误请多多见谅。

上图是LIIHEN过往10年的EPS以及DPS对比，假设未来会公布4仙的Final Dividend，全年的派息率 = 62.61%。

16Q4的美金汇率是近5年的高峰，照理说盈利应该是历史新高。笔者在上图找到了答案，公司最新季度蒙受了RM2.536 mil的外汇亏损以及RM2.436 mil的Hedging losses。而去年的外汇盈利以Hedging Profit则是RM2.613 mil以及RM2.609 mil。同样的情况也发生在HARTA的身上，营业额新高却被Hedging loss给拉低了盈利。

笔者估计是因为管理层没有想到USD/MYR会暴涨到4.45以上，他们的Forward Contract Rate可能是4.20 - 4.25之间，因此才会有Hedging losses。

因此以OPERATING PROFIT 计算的话，这个季度盈利是非常可观，甚至可以说是历史新高。

总结:

• LIIHEN现在RM96.782 mil的Net Cash position处于退可守，进可攻的有利位置。公司可以继续扩张或者派发股息回馈股东，就像最新季度派发10仙特别股息一样。
• 现在最重要的挑战就是劳工短缺以及原料价格上涨，不过公司会透过成本控制以及研发新产品来增加营业额。
• 管理层相信FY17可以交出不错的业绩，而且美金现在保持在4.4以上的水平，这对家私领域是非常有利的。
  

icy97

利兴工业末季多赚12%
特别派息10仙

2017年2月23日
（吉隆坡22日讯）营业额增加，带动木制家具生产商——利兴工业（LIIHEN，7089，主板消费产品股）截至去年12月底末季净利按年增11.86%，并宣布派发每股10仙特别股息。

该公司末季净赚2052万令吉或每股11.4仙，上财年同季为1834万令吉。

不过，成本提高，特别是劳工成本，侵蚀了盈利赚幅。

根据利兴工业，末季营业额按年增加11%，达1.69亿令吉，主要是因为销量增加10%，而卧室家具占了增幅中的8%。

合计全年净利按年提高28%，录得7330万令吉，而营业额则攀升14%，报6.23亿令吉。

同时，该公司每股10仙特别股息，除权日落在3月8日。【e南洋】

SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2016

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Dec 2016	31 Dec 2015	31 Dec 2016	31 Dec 2015
		$$'000	$$'000	$$'000	$$'000

1	Revenue	168,506	152,216	623,460	546,866
2	Profit/(loss) before tax	22,355	21,833	93,723	72,083
3	Profit/(loss) for the period	20,515	18,340	73,299	57,207
4	Profit/(loss) attributable to ordinary equity holders of the parent	20,515	18,340	73,299	57,207
5	Basic earnings/(loss) per share (Subunit)	11.40	10.19	40.72	31.78
6	Proposed/Declared dividend per share (Subunit)	10.00	6.00	22.00	13.33
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.4683		1.2770

icy97

EX-date	08 Mar 2017
Entitlement date	10 Mar 2017
Entitlement time	04:00 PM
Entitlement subject	Special Dividend
Entitlement description	Special interim single tier dividend of 10 sen per ordinary share of RM0.50 each in respect of the financial year ended 31 December 2016
Period of interest payment	to
Financial Year End	31 Dec 2016
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	PLANTATION AGENCIES SDN BERHAD3rd Floor, Standard Chartered Bank Chambers2, Leboh Pantai10300Tel:042625333Fax:042622018
Payment date	24 Mar 2017
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	10 Mar 2017
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.1
Par Value	Malaysian Ringgit (MYR) 0.500

icy97

Type	Announcement
Subject	OTHERS
Description	PROPOSED FINAL SINGLE TIER DIVIDEND
The Board of Directors of Lii Hen Industries Bhd. has proposed a final single-tier dividend of 4 cent per share for the financial year ended 31 December 2016. The proposed final dividend is subject to the approval by the shareholders at the forthcoming Annual General Meeting. The date of entitlement and date of payment in respect of the aforesaid proposed final dividend will be determined and announced in due course.

icy97

LII HEN INDUSTRIES BHD.

EX-date	07 Jul 2017
Entitlement date	11 Jul 2017
Entitlement time	04:00 PM
Entitlement subject	Final Dividend
Entitlement description	Final single tier dividend of 4 cent per ordinary share in respect of the financial year ended 31 December 2016.
Period of interest payment	to
Financial Year End	31 Dec 2016
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	PLANTATION AGENCIES SDN BERHAD3rd Floor, Standard Chartered Bank Chambers2, Leboh Pantai10300Tel:042625333Fax:042622018
Payment date	27 Jul 2017
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	11 Jul 2017
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.04
Par Value	Malaysian Ringgit (MYR) 0.000

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2017	31 Mar 2016	31 Mar 2017	31 Mar 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	173,022	165,394	173,022	165,394
2	Profit/(loss) before tax	28,929	27,787	28,929	27,787
3	Profit/(loss) for the period	22,119	21,024	22,119	21,024
4	Profit/(loss) attributable to ordinary equity holders of the parent	22,119	21,024	22,119	21,024
5	Basic earnings/(loss) per share (Subunit)	12.29	11.68	12.29	11.68
6	Proposed/Declared dividend per share (Subunit)	4.00	4.00	4.00	4.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.4903		1.4674

icy97

EX-date	13 Jun 2017
Entitlement date	15 Jun 2017
Entitlement time	04:00 PM
Entitlement subject	First Interim Dividend
Entitlement description	First interim single tier dividend of 4 cent per ordinary share in respect of the financial year ending 31 December 2017
Period of interest payment	to
Financial Year End	31 Dec 2017
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	PLANTATION AGENCIES SDN BERHAD3rd Floor, Standard Chartered Bank Chambers2, Leboh Pantai10300Tel:042625333Fax:042622018
Payment date	29 Jun 2017
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	15 Jun 2017
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.04
Par Value (if applicable)	Malaysian Ringgit (MYR) 0.000

Tony-Pua

六月专题：高股息系列#3-LIIHEN(7089) 家具股之股息王中王
2017年6月3日星期六
http://wesharenwetrade.blogspot.my/2017/06/3-liihen7089.html

业务简介
LIIHEN这家公司，相信有投资马股几年经验的你们一定认识它。因为过去4年LIIHEN的股价是成长10倍++，且派息又丰厚。LIIHEN的主要业务为家具制造，是国内领先制造商之一，90%营业额来自出口至国外，其中美国就占了75%左右。

行业分类：木材工业/家私

管理层/大股东
Chua Yong Haup – Managing Director – 0.08%
Koon Yew Yin – 9.45%
以下三人的股份包括透过Asset Muar Sdn Bhd 间接持有股份(deemedinterest)
Chua Lee Seng – Executive Director – 43.02%
Tok Heng Leong – Executive Director – 42.83%
Tan Bee Eng – Executive Director – 42.99%

五年财政表现(RM'000)

**DPS and EPS data is extracted from annual report, which was adjusted to reflect bonus issue and share split activity in 2015.

买高股息公司一定要知道的数据
Dividend yield: 26sen/RM3.2 = 8.1%
Dividend policy: N/A
Dividend payout %:请看图
一年派息次数：5次（一次为特别股息）
派息风格：自2012年业绩突飞猛进后，公司派的股息更高。2013年起开始每个季度派息一次+一年特别股息一次。派特别股息的用意通常都是钱太多想派给股东而又不想给公司沉重的负担说一定要每年派指定的数额。即使扣除特别股息10仙后，今年股息也有16仙，dividendyield也有将近5%。

公司特点
1. 曾是官有缘老先生的最爱之一
LIIHEN曾经是官有缘老先生(大马出名投资家，不认识的朋友可以google)的至爱，在2014-2015年期间开始累积LIIHEN的股份，他在LIIHEN的投资利润应该达到600%。2016年的年报显示他还是第二大股东，持有9.45%。2017年官有缘老先生则逐渐要和LIIHEN说分手，最新公告显示他目前只持有5.08%而已。或许未来几个月他还是会有卖票的举动。

2. 连续14个季度的成长
连续14个季度净利的成长，这也让LIIHEN的股价在过去几年翻了几倍。为什么过去家具业会成长的这么厉害？除了需求成长，美金升值也是带动因素之一。

3. 行业的前景
14个季度的成长的确是骄人的成绩，但是这些都是过去式了，家具行业的未来前景又是如何？去年笔者曾写过一篇家具股的前景，而现在劳工荒仍然是拖慢家具业成长的最大元凶，而且近期的家具公司都不约而同提到劳工短缺和劳工成本影响赚幅！LIIHEN也在最新年报中直言劳工荒是最主要的风险。
不过，笔者认为家具业还是有成长的，只是会因为劳工荒的问题而比起过往成长缓慢得多。

4. 低P/E
LIIHEN会有这么高的dividend yield，并不是因为管理层很大方的派股。事实上，LIIHEN只拿一半的净利派发给股东，一半的净利都拿来再投资。LIIHEN目前的P/E才7.57。即使2015年家具业受追捧的高峰期，LIIHEN的P/E也没有突破10。所以也别指望LIIHEN的P/E可以升得太高，只能寄望净利的成长继续带动股价上升。

其实这也不是公司的特点，而是大马家具业的P/E通常都不会超过10，被市场标签为低P/E行业。

5. 暴涨的现金
购买高股息公司肯定少不了监视公司的现金流。伴随着净利的爆发，LIIHEN的净现金从2012年的RM7.8million升至2016年的RM94million。目前的净现金：市值比例为16.7%。其实UCHITEC也有相似的高净现金：市值比例。不过不同的是LIIHEN比UCHITEC更会再投资，保留一半的净利充作现金以再投资。如果未来公司没有方案再投资，公司有空间提高dividendpayout ratio以派发多余的资金给股东们。

适合收股息的指数（满分为5）：5分
给及满分！需注意的是满分不代表完美，零风险，稳赢哦！虽然LIIHEN的过去成绩相当辉煌，股价也飙涨到很高，可是笔者相信家具业还是不错的行业，未来应该还会有所成长，只是成长速度会缓慢下来。即使LIIHEN的业绩只是保持平平，股东们至少也有8%的dividendyield，这真的很难叫股息爱好者不有所心动。

至于官有缘老先生抛售LIIHEN的股，这点除了会让LIIHEN短期的股价受到卖压之外，根本对LIIHEN的基本面毫无影响。为何他要卖股？笔者不是他心里的虫，不知道原因。不过，笔者认为官有缘老先生在LIIHEN赚了很非常多，只是开始套利把资金转去成长潜能更大的公司，这也是在投资组合管理中很正常的事。

笔者不敢论定LIIHEN是家私股最好的选择。但是如果你的投资动向是以股息为主，LIIHEN绝对是家私股之股息王！

icy97

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS
Description	Lii Hen Industries Berhad ("LHIB" or Company)Proposed Acquisition of DPSB
On behalf of the board of directors of LHIB, KAF Investment Bank Berhad wishes to announce that Favourite Design Sdn Bhd, a wholly owned subsidiary company of LHIB had, on 26 May 2017, entered into a conditional share sale agreement dated 26 May 2017 with Chua Lee Seng, Tok Heng Leong, Neoh Cher Leong, Chua Yong Haup, Chua Yong Hock, Soo Tee Heng, Tan Bee Eng and Tok Soon Hing for the proposed acquisition of 500,000 ordinary shares of Domain Partners Sdn Bhd (“DPSB”) representing the entire share capital of DPSB. Please refer to the attachment for the full text of this announcement. This announcement is dated 29 May 2017

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5442445

Attachments LHIB-Proposed Acquisition of DPSB-Announcement-v6-290517.pdf

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2017	30 Jun 2016	30 Jun 2017	30 Jun 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	169,608	144,510	342,631	309,903
2	Profit/(loss) before tax	22,046	22,248	50,975	50,103
3	Profit/(loss) for the period	16,620	17,019	38,740	38,111
4	Profit/(loss) attributable to ordinary equity holders of the parent	16,620	17,019	38,740	38,111
5	Basic earnings/(loss) per share (Subunit)	9.23	9.46	21.52	21.17
6	Proposed/Declared dividend per share (Subunit)	4.00	4.00	8.00	8.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.5426		1.4674

icy97

EX-date	08 Sep 2017
Entitlement date	12 Sep 2017
Entitlement time	04:00 PM
Entitlement subject	Second interim dividend
Entitlement description	Second interim single tier dividend of 4 cent per ordinary share in respect of the financial year ending 31 December 2017.
Period of interest payment	to
Financial Year End	31 Dec 2017
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	PLANTATION AGENCIES SDN BERHAD3rd Floor, Standard Chartered Bank Chambers2, Leboh Pantai10300Tel:042625333Fax:042622018
Payment date	26 Sep 2017
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	12 Sep 2017
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.04

icy97

美国飓风后重建激励家具股
利兴工业盘中飙6%

2017年9月19日
（吉隆坡19日讯）经历“哈维”与“艾尔玛”飓风后，美国灾民即将重建家园，激励家具制造商利兴工业（LIIHEN，7089，主板消费产品股）股价盘中大涨6%。

今日利兴工业以3.39令吉跳空高开，随后节节攀升至3.51令吉高位，即将突破52周最高价。

闭市时，该股报3.49令吉，全日涨18仙或5.43%，为全场第7大上升股，成交量有230万1200股。

其他家具股如堡发资源（POHUAT，7088，主板消费产品股）、成业资源（SYF，7082，主板消费产品股）和家丽资机构（HOMERIZ，5160，主板消费产品股），股价虽呈扬势，但涨幅不大。

美国出口占77%

丰隆投行分析员在报告中说，美国市场占利兴工业出口77%，因此，重建家园的活动可能激励家具需求和出口。

分析员援引历史数据，在2005年“卡特里娜”飓风后数月，我国木制家具出口攀升25%。

此外，原料短缺导致全球最大的家具出口国——中国，去年的出口首次下跌。分析员认为，其他主要家具出口国会从中获益，包括大马。

除了外部因素，分析员也青睐利兴工业的稳健财务、回酬、股息和前景。

与同行相比，该公司的财务较为强劲，核心净利的5年年均复增为22.6%。

“利兴工业在盈利、回酬和派息方面的记录良好，归功于积极改善营运效率和通过差异化，扩展至高赚幅产品。”



周息率料达7.9%

目前，利兴工业每股净现金高达53.8仙，加上盈利前景佳，分析员预计会持续派发每股26仙股息，代表着7.9%周息率。

该公司的主要收入来自木制家具，近期更多元化产品种类至制造与设计面料沙发套。

分析员预计，利兴工业今明后财年净利，会趋扬3%至11%，分别达到8010万令吉、8250万令吉与8440万令吉。

这是因为新生产线带来收获，以及美国市场需求持续增长。

分析员给予“买入”评级，并根据11倍本益比计算出5.04令吉目标价。【e南洋】

哭哭鸟

利兴工业麻坡厂房失火
家具产能恐受影响
2017年10月29日
http://www.enanyang.my/news/20171029/利兴工业麻坡厂房失火-br-家具产能恐受影响/

（吉隆坡28日讯）利兴工业（LIIHEN，7089，主板消费产品股）柔佛麻坡武吉巴西厂房发生火灾，将影响卧房家具套的生产。

该公司昨天向交易所报备，遭祝融光顾的厂房属于独资子公司Favourite设计私人有限公司，于下午3时20分起火，一小时后火势才受控制。

该厂房共有八座单层家具厂（生产线）和一座三层办公楼，火灾烧毁了其中四条生产线、传送系统、造木机械和库存。

因此，这将影响卧房家具套的生产。管理层正评估火灾对财务的影响。

不过，利兴工业称，遭烧毁的资产、厂房、器材和库存皆充足受保，管理层会与保险公司及承包商合作确认损失范围。

此外，为了弥补产能损失，该公司会增加麻坡主要厂房的值班数量或工时，抵消火灾带来的冲击。

Type	Announcement
Subject	OTHERS
Description	FIRE INCIDENT
The Board of Directors of Lii Hen Industries Bhd. ("the Company") wishes to announce that a fire occured at about 3.20 p.m. today (27 October 2017) at the second premises of Favourite Design Sdn. Bhd. ("FDSB"), a major wholly-owned subsidiary of the Company in Kawasan Perindustrian Bukit Pasir, 84300 Bukit Pasir, Muar, Johor Darul Takzim. The said premises housed in eights (8) blocks of single-storey furniture factory building together with a three-storey office block situated at Plo 29 & 47, Jalan Rami 3, Kawasan Perindustrian Bukit Pasir, 84300 Bukit Pasir, Muar, Johor Darul Takzim. The fire was under control at about 4.45 p.m.. The incident has caused 4 out of 8 blocks of production lines, the conveyor system, spraying and wood making machines as well as inventories (mainly of white parts) destroyed by the fire. The property, plant and equipment and inventories destroyed are adequately insured. The management of the Company and FDSB will in collaboration with insurers and contractors to ascertain the actual extent and quantum of the losses caused by the incident. This incident will have operational impact on bed-room sets operations of the Group. The financial impact of this incident is being assessed and the announcement will be made once its has been determined. The management will mitigate the impact of above incident by increasing production hours/shifts at the main premises situated at GM 347, Lot 1915 Mukim Sg. Raya, Muar to compensate for the loss in capacity.

哭哭鸟