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Thursday, December 31, 2015

周顯:江湖大佬 就是兜生意的人

周顯:江湖大佬 就是兜生意的人
2015年12月31日

【明報專訊】近日某名江湖人物成為了新聞人物,其實,江湖大佬是如何搵食的呢?


首先,必須要有很多細佬,才能夠做江湖大佬,換言之,有很多細佬跟他搵食,所以,身為江湖大佬,必須要找很多job回來,才能夠養活大批的手下。問題在於,誰人有這麼多的job做呢?

大家以為,做江湖大佬,開黃賭毒生意咪得囉!不過話時話,做生意賺梗㗎咩?如果做生意咁叻,都唔使做黑社會啦!所以,簡單點說,做江湖大佬就是「solicitor」(字面解釋是﹕兜生意的人),專門找生意,他們的client,就是富豪。這也即是說,江湖大佬,不過是富豪的手下,認識愈多富豪的江湖人,就是愈成功的大佬,這也是一個定律。

主要客戶是富豪

所以我常常說,要年輕人捨棄黑社會的最佳方法,就是使他們知道,黑社會不過是富豪們的擦鞋仔,如果要做黑社會,不如直接努力賺錢,做富豪。我少年時就是因為嫌棄黑社會太窮,成日去茶餐廳,所以死都唔肯加入。

話說好多年前,有一名江湖人想搞公司上市,但交易所質疑他的江湖人身分,不肯讓這家公司上,直至他找了一名高人做保薦人。這名高人同交易所講﹕「他有無案底,你哋仲發咗個經紀牌畀佢𠻹,唔通江湖人唔做得上市公司老闆,但卻可以做經紀?」

結果這家公司成功上了市,而且愈做愈大𠻹,又無玩那些供供合合的花臣嘢,算是頗為正派。高人事後對此事的評語是﹕「江湖人物講口齒,做上市公司,可能仲好過飽讀詩書的大賊!」

[周顯 投資二三事]

http://www.mpfinance.com/htm/finance/20151231/columnist/en30_en30.htm

Pavilion REIT makes another acquisition after three months

This article first appeared ini on December 31, 2015.

Pavilion Real Estate Investment Trust
(Dec 30, RM1.54)
Maintain buy with a higher target price of RM1.75:
Pavilion Real Estate Investment Trust (Pavilion REIT) has announced a proposal to acquire the Intermark Mall along Jalan Tun Razak for a purchase consideration of RM160 million.
The Intermark Mall has a total net lettable area of 255,014 sq ft. We believe that the net yield of 6.1% for the three-year-old mall is fair, given its prime location along Jalan Tun Razak, and direct access to the Integra and Vista office towers.
We note that the 74% occupancy rate is lower than its other portfolio assets, although we see this as an opportunity for the REIT to bring in high-yielding tenants.
The purchase would be fully funded by debt. Coupled with the RM488 million of debt for the purchase of da:mén in USJ, it could see its gearing breach the 25% mark (financial year 2015 [FY15]: 15%).
However, this still sits comfortably below the 50% gearing cap set by the Securities Commission Malaysia. The management expects the acquisition to be completed by the first quarter of 2016.
The deal has caught us by surprise as it comes not too long after its proposed acquisition of da:mén in USJ in September. We note that the acquisition would be earnings- and distribution-per-unit (DPU)-accretive upon completion, given that the mall already has a relatively stable tenancy mix.
The mall has a decent catchment from the surrounding offices and also accessibility to the nearby Ampang Park LRT station, which should lift future prospects. That said, the mall only makes up about 3% of Pavilion REIT’s estimated RM5.1 billion investment asset value.
Our FY16 forecast (FY16F) to FY17F earnings are lifted by less than 5% after adjusting for higher revenue and interest expenses going forward.
Despite the current weak consumer sentiment, Pavilion REIT is likely to still be able to sustain its DPU growth over the next 12 months, due to its inorganic growth potential. Key risks to our call include prolonged weak consumer sentiment and competition from newer malls. — RHB Research Institute, Dec 30
Pavilion_fd_311215

Signature expected to get jobs for five projects

This article first appeared in The Edge Financial Daily, on December 31, 2015.

Signature International Bhd
(Dec 30, RM1.84) 

Reiterate buy but cut target price to RM2.55 (from RM3.16 previously): Management has a complete change of view about the market outlook for kitchen manufacturers for 2016.

Instead of a steady 2016 growth and possible slowdown in 2017 as previously guided, management foresees more challenges in 2016 and expects a strong recovery in 2017 now.

Note that Signature has predicted earlier that the slowdown in the property market in 2015 will affect its 2017 revenue, assuming a two-year time lag between project launch and award of kitchen contracts.

The change in predictions can be partly attributed to change in developers’ behaviour. Given the uncertain property market outlook, management indicated that developers are cautious about managing their profit growth trends. Instead of following the original work schedules, which may see a sharp contraction in 2017 profits, developers intend to smooth out the impact by recognising their current unbilled sales evenly between 2016 and 2017.

This will lead to job delays, which include kitchen works. However, we agree with management that the job delays could not persist or developers would fail to complete projects on time.

More importantly, long-term market dynamics are still intact as upmarket development will continue flourishing with increasing affluence of population and improvement in transportation infrastructure. This is expected to translate into higher demand for premium lifestyle products, ie designer homes, gated and guarded development, and bodes well for Signature.

Signature is expected to receive letters of awards for five projects worth RM30 million in the next few months. This will prop up its order book from RM138 million back to RM168 million. For Danga Bay Country Garden, we expect the decision-making for the project award to come in the first quarter of 2016 and this three-to six-month delay would potentially push some of the earnings to financial year 2017 (FY17).

As far as Battersea Phase 2 development is concerned, Signature has a good head start in clinching the kitchen works after submitting its proposal to the developer. The company has proposed the imported German-brand kitchen system for Battersea. According to our property analyst, there are 255 luxury apartments in the Battersea Phase 2 development. Assuming each kitchen system would cost RM100,000, we estimate Battersea’s kitchen contract could be worth RM25.5 million.

Signature had a healthy net gearing of 4.4% as at September. It also had investment properties worth RM36.6 million, which could strengthen its net debt position to net cash if it is able to sell all the investment properties. According to management, 70% of the investment properties have already completed and the company has appointed sales agents to sell these properties.

We believe the management would retain most of the disposal proceeds as cash than paying it out as special dividend to weather this challenging period. However, we reckon it would utilise some money for share buy-back after obtaining approval from shareholders recently. Note that the most recent share buy-back transaction occurred on Dec 15, when the company bought back 97,300 shares at prices ranging from RM1.89 to RM1.91.

We downgrade our FY16/FY17/FY18 earnings by 35.2%, 4.1% and 2.5% respectively after reducing FY16/FY17/FY18 total job wins by 23.8%, 0.3% and 6.5% respectively. We now assume Signature to secure new jobs worth RM108 million, RM206 million and RM205 million for FY16, FY17 and FY18 respectively. — TA Securities, Dec 30

Signature_fd_311215

Wednesday, December 30, 2015

(Icon8888) Thong Guan (Part 6) - Upward Revision of Target Price From RM3.58 to RM3.96

I last wrote about Thong Guan when it was trading at RM2.25 (19 November 2015). The stock has since gone up by 39% to RM3.13.

In that article, I set a Target Price of RM3.58.

Now that share price is inching towards that level, is it time to take profit ?
Just hold on to your horses.....


Consistent with practice by many analysts, Icon8888 decides to revise upward Target Price to better reflect investors sentiment toward this stock. The decision to set a higher Target Price also took into consideration the super profit announced by Scientex recently. Both Thong Guan and Scientex are in more less the same industry. 

Revising upward the Target Price is not difficult. This is because in my previous article, I have deliberately understated the prospective earnings (just to be conservative) by ignoring the adverse impact of forex losses on Thong Guan's September 2015 results :-


We are now approaching end December. During Q4, Ringgit actually strengthened slightly by approximately 3% from 4.4265 to 4.2958.


As Thong Guan has net exposure to USD liabilities, weakening of Ringgit will result in forex loss, while the opposite will result in forex gain.

To be conservative, I did not assume any forex gain in coming quarter. I will still assume forex losses. However, the amount will be only half of those in the September 2015 quarter.

By making that adjustment, prospective earnings has gone up from the previous RM56.6 mil to RM62.6 mil. EPS also increased from 35.8 sen to 39.6 sen.  

(latest financial model)

(previous financial model)

Accordingly, based on 10 times PER (unchanged), Target Price has been revised upwards toRM3.96.


Concluding Remarks

The decision to revise upward the Target Price is not purely based on mathematics. Among all the export counters, I have the most bullish expectation for Thong Guan. The fortune of companies like Lii Hen and Poh Huat are to a large extent dependent upon the weak Ringgit.

However, Thong Guan is in a different league. Its recent capex program has boosted its technological competitivenss tremendously (please refer to my previous articles). Even with Ringgit strengthening to RM3.90, I am confident that it still can outperform many other companies to deliver super strong profit. 

Contrary to other export counters, Thong Guan's re-rating will be a multiple year theme. I believe there is still plenty of upside, especially if it evolves into a dividend play, as per Part 4 of my articles :-



Thanks for reading. I would like to wish everybody a happy, safe and prosperous 2016. 

(SuperMan 99) Cycle & Carriage Bintang (CCB) - The Forgotten Star with 73% potential upside!!!

I have been following Cycle & Carriage Bintang Bhd (CCB: 2925.kl) & decided to accumulate this stock quietly... :)

The reasons I invested in this company were as follows:

1. Revenue increased 86%
2. Profit increased 493%
3. PE will be below 6 with 2015 EPS projected at RM0.55
4. Net profit margin improved
5. Newly launched models are warmly welcome by market
6. New models are now produced locally in Malaysia & are complied with National Automotive Policy, so now can sell at lower prices (see press release @ 8/10/2015 below)
7. Hybrid version selling like hot cake due to tax exempted status (New hybrid S-400 is selling RM588k only, previous normal S-Class is about RM750k-850k with tax & C-Class is selling RM248,888 while previous year was RM300k++, please correct if wrong)
8. History of declaring special dividends.
(All profits in accounts were genuine operating profits, no gain on forex or fair value in investment properties, OR disposal of something)
Based on my own calculation, my price target for Cycle & Carriage is RM5.50 (refer to Table 1 below), representing potential upside of 73% (To be conservative, I discounted the IV).
Reminder: My calculation & assumptions may be wrong & I have to confess that I am not professional analyst, you are freely to disagree my projection. My presentation here are merely for sharing, educational & reference purposes only.

History of Declaring Special Dividends

The Company is in the mutured retailing business & do not require much capital expenditure/reinvestment except for normal refurbishment/upgrade of existing 3S centres. As such, the Company had declared special dividends in 2008 & 2009 when they were in good cash positions & performing years. (Refer to Table 3: declaring 108m in 2008 & 98m in 2009)
The company had only declared normal dividends other years & the company had stopped paying dividends in 2013 & 2014 due to weak operating results. (Note: there were times when BMW all models were selling like nobody & MBenz models were badly designed)
Entitlement Date = 29/8/2008
Special Dividend of 
RM1.35 per share (2007: nil) less income tax of 26% (http://www.bursamalaysia.com/market/listed-companies/company-announcements/3569753)
Entitlement Date = 28/8/2009
Special Dividend of RM1.20 per share less income tax of 25% (2008: RM1.35 per share less income tax of 26%) (http://www.bursamalaysia.com/market/listed-companies/company-announcements/3608249)
Note: Some said the above special dividends were results of restructuring exercises, these statements were baseless & totally wrong. If read 2008 & 2009 Annual Reports carefully, the dividends were in fact results of good financial performances by the Company.
 

Table 1: 6 years average & Price Target 

Rolling PE ratios for other cars distributors:
UMW Holdings (Toyota) : 26.59
Tan Chong Motor (Nissan) : 21.82
Berjaya Auto (Mazda) : 9.88
MBMR (Produa) : 8.82


Table 2: Comparison on 3Q2015 & 3Q2014

Brief Analysis:
1. Stocks level went up in tandem with the increase of revenue, correspondingly the trade payable increased & the company utilised bankers' acceptances to finance the purchase of new stocks.
2. Whole year projected profit = 41.931m + 13.461m (assuming Q4 same result as Q3) = 55.392m.
3. Earning per share = 55.392m / 100.745m = 0.5498
 

Table 3: Financial information based past 8 years' audited accounts

 

Recommended Links:

1. Press release (8/10/2015): Mercedes-Benz Malaysia enjoy 70% growth up to September 2015
In the prese release dated 8 October 2015, Mercedes-Benz Malaysia announced the achievement of 70 per cent growth in year-to-date passenger car sales, selling 8,196 units in 2015.
Mercedes-Benz Malaysia, President and CEO, Dr Claus Weidner said, “We have had a string of successes and achieved several milestones in 2015. With what we have achieved so far, Mercedes-Benz Malaysia is certainly headed towards another top year for the brand. With a constant evaluation of the market, our existing line of passenger cars, and upcoming products, 2016 is shaping up to be an exciting year ahead.”  
2. Press release (23/4/2015):  Successful launch of locally assembled all-new C-Class
"With the introduction of C-Class as locally assembled models, we believe that we have firmly cemented our position as the leading premium luxury brand for passenger cars in Malaysia"...


Declaration & Disclaimers:

I have interest & own shares in this company.
All the above are merely presented & written for sharing, educational & reference purposes and does not constitute as recommendation to purchase/buy or sell. You should make your investing decision based on your own judgement & at your own risk. I will not be responsible nor liable for your action.

Global growth will be disappointing in 2016 says IMF's Lagarde

BERLIN (Dec 30): Global economic growth will be "disappointing" next year, the head of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday.

IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide.

In addition, growth in global trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in many countries still has weaknesses and financial risks are rising in emerging markets, Lagarde added.

"All of that means global growth will be disappointing and uneven in 2016," Lagarde said, adding that low productivity, ageing populations and the effects of the global financial crisis were putting the brakes on growth.

She said the start of normalisation of U.S. monetary policy and China's shift towards consumption-led growth were "necessary and healthy" changes, but needed to be carried out as efficiently and smoothly as possible.

The U.S. Federal Reserve hiked interest rates for the first time in nearly a decade earlier this month and made clear that was a tentative beginning to a "gradual" tightening cycle.

There are "potential spillover effects", with the prospect of increasing interest rates there already having contributed to higher financing costs for some borrowers, including in emerging and developing markets, Lagarde said.

She added that while countries other than highly developed economies were generally better prepared for higher interest rates than they had been in the past, she was concerned about their ability to absorb shocks.

"Most highly developed economies except the USA and possibly Britain will continue to need loose monetary policy but all countries in this category should comprehensively factor spillover effects into their decision-making," Lagarde said.

She warned that rising U.S. interest rates and a stronger dollar could lead to firms defaulting on their payments, and that this could then "infect" banks and states.

OWG shareholders approve bonus issue

KUALA LUMPUR: Shareholders of Only World Group Holdings Bhd (OWG) approved the proposed bonus issue of 37 million new shares among other resolutions. 

The bonus issue of 37 million new shares of 50 sen each is on the basis of one bonus share for every five existing shares held. 

Shareholders had also passed six other resolutions.

“As our expansion projects are nearing completion, we are on track to gain a solid and stable footing in attaining sustainable revenue growth,” said managing director and group chief executive officer Datuk Seri Koh Cheng Keong in a statement.

OWG is involved in operating and managing F&B and leisure related brands, found in popular resorts and shopping malls.

In October 2015 it completed the acquisition of Escaperoom Holdings Sdn Bhd, a  company mainly engaged in the real life physical adventure games/puzzle concept. 

The acquisition aims to contribute RM4mil to the group’s profit within the next two financial years. 

Escaperoom has seven existing outlets in Malaysia as well as presence in seven countries abroad, which allows OWG to diversify its product offerings in both local and international markets.

The group posted RM86.89mil in revenue, up 4.6% compared to the preceding year. Revenue for the financial year ending 2015 from Food Services Operations and Amusement and Recreation Operations increased by 8.3% and 3.7% to RM64.2mil and RM14.1mil, respectively.

Revenue from Other Services declined partially due to the temporarily closure of the Theme Park in Genting Highlands. 

湯文亮:銀主盤並不是樓市警報器

湯文亮:銀主盤並不是樓市警報器
2015年12月30日

【明報專訊】在2015年初,在我發表「細價樓爆煲論」之後,有不少人不同意我的見解,有人話銀主盤是樓市轉弱的警報器,當時,就算用物業抵押借錢的人冇錢還,只要他們申請加按,甚至轉按物業,以貸冚債,又可以支持一段時間,所以在那時候,基本上很少銀主盤出現,所以他們認為,當樓市出現銀主盤,才需要留意樓市是否轉勢,他們雖然說得頭頭是道,可惜是錯的,當銀主盤出現,表示已經有物業不能夠以貸冚債,而且會愈來愈多,樓市下跌之勢已成,銀主盤變成一個沒有作用的警報器。

轉按加按增 已經是警號

一個物業在變成銀主盤之前,必定經過客戶供款脫期,以至停止供款,財務機構屢追不果,再採取法律行動,最後,物業才會變成銀主盤,在期間,財務機構,律師行職員均接觸到那些個案,如果個案增加,而欠債人又採取放任態度,就算物業未變成銀主盤,他們都應該知道樓市正在轉弱,到銀主盤大量出現,轉弱之勢正式形成,如果以銀主盤作為警報器,信息可能來得太遲。

而且,現在的銀主盤比過往來得急速,因為有很多公屋,居屋業主將物業向財務機構舉債之時,並沒有一個還款計劃,根本是愈借愈多,利息負擔愈來愈重,最初的時候,因債務不太重,與物業價值還有一段距離,借貸兩方都掉以輕心,就算在年初,我話3年內會出現過1萬個銀主盤,都被人笑到面黃,但當樓市下跌,欠債人的債務又大了很多,銀主盤就會加速出現,到今日,已經沒有質疑我所說的話,因為他們了解到,那些沒有能力還款業主,他們的物業基本上已經是銀主盤,所以我認為,轉按加按的個案增多,已經是樓市警報器,毋須等待銀主盤出現。

紀惠集團行政總裁

[湯文亮 敢說亮話]

http://www.mpfinance.com/htm/finance/20151230/columnist/en79_en79.htm

Tuesday, December 29, 2015

Keinhin (You In Already?)

Keinhin (You In Already?)

Author: Gary Poh   |   Publish date: Mon, 28 Dec 2015, 10:07 PM 
http://klse.i3investor.com/blogs/KEINHIN/88766.jsp

Recently, my followers ask me what kang tou (“Lubang”) can buy recently? But mostly already gone up like FFHB, TECFAST, and RGB. Then, I told them,” I still collect Keinhin as their price still cheap to me”. Then question start coming. (“All time high still can chase? Buy high can sell higher keh?”)

Let me answer few questions here:

1. Have Keinhin financial result keeps improving? Got growth or not?

2. Have Keinhin successful in their expansion in Vietnam?

3. How high Keinhin can go? Or another words, what is your TP?

Kein Hing International Berhad, one of the growth stocks that I think that will shine in Year 2016. Year of 2016 will be a new chapter of life for Malaysia as our ringgit still remains weak. Plenty supply of crude oil will cause uncertainty in global oil price. Therefore, stock selection must be wisely indeed.

This stock again triggers my watch list when posted well for the financial year ending 30 April 2016. Keinhin has operations in Malaysia, Vietnam, Japan, Europe, Hong Kong, Thailand, and internationally. Keinhin applied organic growth strategy whereby the process of business expansion by increased output, customer base expansion.

The company engages in sheet metal forming, precision machining, components assembly, and designing and fabricating tools for automotive, electronic components, home appliances, and audio-visual equipment industries. The company is also involved in the precision machining of electronics and electrical industries components. In addition, it manufactures, distributes, trades in, and sells gas appliances under the ZENNE brand name (Adopted from “Bursa Market Place”).

Why Keinhin? (Adopted from 2nd Quarterly Financial Report 2015)

1. Improvement demand domestically and internationally



2. Benefit from weaker Ringgit (Adopted from Annual Report Keinhin 2015)



3. Future prospect



Management has been collecting the stocks and they never dispose any share as to current year to date. This represents the confidence level of their management.

Let’s us forecast Keinhin the coming next quarter with the real earning per share with 3.5 cents in Q3 and Q4.



This means that you are buying a future of Keinhin with current share price RM0.80 with PE as low of 6.5 provided Keinhin continuously performed well in coming, not to mentioned, dividend as well.



Net Tangible Asset of Keinhin of 2nd quarter worth more than RM1. Therefore, should Keinhin deserve a share price by just having RM0.80 only? You decide…

TP RM1 (Invest on your own risk)

SYF RESOURCES BHD, the next VS Industries ??

Source: http://klse.i3investor.com/blogs/NiNa/88768.jsp
In this first blog posting, I take the liberty to cover SYF Resources Bhd.

INTRO

SYF is a furniture manufacturer, whose furniture products are exported to 88 countries globally, sees more than 50% of its revenue from the furniture business. SYF also has a property development unit, which it started in 2012, contributes 25% to 30% of revenue.





Rationale Behind Venturing into Property

Furniture business hasn’t been always rosy.

Since the liberalization of RM at 2005, the currency strengthen. Coupled with general economic slowdown of 2008/09, these have affected SYF’s core furniture business. As a result, the company suffers five consecutive loss (albeit at a reducing loss trend) from 2007 to 2011 financial year. The property boom from following years makes this venture to be only logical.

Venturing into properties at that time proofs to be a wise move. The company has made a remarkable turnaround at 2012, and things has been rosy again since. Furthermore now, even their core furniture business has turnaround and made a handsome profit.

As mentioned in their annual report on its earning:

Although the property market was weaker, there was satisfactory response to the two new projects started during the year: the mixed commercial/residential Kiara Plaza project in Semenyih and the residential semi-detached houses of Wira Heights 3 in Sungai Long. The income recognition from these new projects and the completion of the fully-sold Semenyih Hi-Tech 6 industrial project improved the division’s results and contributed to the overall increase in Group revenue.





SYF did not gamble in property venture

The way SYF approach its property business, it seems that the management is aware that they are venturing out from their forte, in contrary to the way Mah Sing has approach property as an industrialist (in plastic molding). I did not mean to belittle Mah Sing as their success are formidable, but simply to point out that SYF is more conservative and really weight in the risk at hand.

To illustrate this, SYF itself is a manufacturer that owns and operates in a factories. They are very familiar and fully understands what a factories buyer would look for and need, the way they would themselves demand (or the way their business partners, vendors or even neighbor would). They have been very successful in developing factories, not a very easy feat even big players having trouble selling this class of properties.

SYF is more cautious on the property segment, preferring to undertake a property development project on a joint venture basis. The reason for that, as explained by its management, is to avoid a huge holding cost on the land acquisition, which could burden the balance sheet.

Wise indeed. Better be safe than sorry.



SYF’s Core Business: The force Awaken

The corebusiness has turnover remarkably well from a loss making one half a decade ago, to now contribute back >50% of revenue, exporting to over 88 countries. its executive director Datuk Seri Chee Hong Leong, has estimated that the furniture industry will register double-digit growth in 2015.

SYF second manufacturing plant in Simpang Pertang is set to commence operation in January 2016. Due to this, the boards division contributed marginally to Group earnings as pre-operating expenses of the second plant in Simpang Pertang had to be absorbed whilst pending commencement of its commercial operations. Machinery installation and site works of the new plant were carried out during the year and would be completed by end of calendar year 2015. As a result, cash flow will expectedly be poor. VS Industries. Ring a bell??



So, will this still be a buy call, even when SYF at its year high ??!!

Yes indeed. Taking a one year performance comparison of both stocks, SYF and Mieco, for comparison purpose (Mieco was arbitrarily picked as being in similar industry). Mieco has increased by 200%. On the same period, SYF has only improved by 5%. An analysis of at least 20 furniture-related stocks shows that at worst an investor would be enjoying a paper gain of 19%, while at best it would be 183% (focusmalaysia.com). It should be deemed that there is still much room for upside. Investors just beginning to acknowledge SYF, hence this could be the beginning of the growth.

Disclosure: I am currently holding SYF. I do not currently hold Mieco. The above is just my opinion. All comments and discussion are welcomed.

[转贴] 回報率比黃金還高 樂高成投資新寵

2015-12-29 10:32
(倫敦訊)樂高積木風靡多年,不僅小孩喜歡,大人也愛。但對於識貨者來說,樂高積木並不只是玩具,更是一件投資工具,比黃金更加值得投資。若保存良好,其價值可每年上漲12%。

《每日電訊報》一項分析發現,如果你投資樂高組合,過去15年你的報酬會比股市、黃金或銀行儲蓄都要更好。

每年可增值12%

報導指,黃金價格每年增長9.6%,樂高的升值速度及幅度卻高達12%,比黃金高,而未拆包裝的樂高價值又更高,如2007年出版的《星球大戰》終極收藏版千年鷹號,當時售價是342.49英鎊(約2196令吉),如今已漲到2712英鎊(約1.7萬令吉),價格差了近7倍之多。

其中,價值升幅最大的據稱是“轉角咖啡廳”(Cafe Corner ),2007年時的售價是89英鎊(約571令吉),現在已飆漲至2096英鎊(約1.3萬令吉),漲幅高達22倍。

積木投資公司BrickPicker.com的始創人馬喬羅斯基說,只有完美狀態的樂高,才能賣到好價錢。用過的樂高價值較低,但還是比原本售價高出幾百英鎊。

這些樂高多數都透過eBay交易,馬喬羅斯基說,現在全世界有好幾萬投資人在炒高罕見樂高的價格,相信價格還會再漲。

7個投資樂高積木貼士
1.一盒玩,一盒儲。二手市場有價,大盒裝或獨家套裝隔數年後賣出,會有不錯的進賬。
2.二手限量版及節日特別版很受歡迎,越稀有越好價。
3.投資2000年或以後出版的樂高積木。2000年之前的款式比較普通,只剩一些經典款式,它們的價值已趨平穩,亦保存不佳。
4.盡量不要損壞包裝盒、積木及說明書,更不要遺失其中一些積木。可以將積木保存在乾暗位置,避免陽光直接照到。保存得好較能保值。
5.將樂高積木的包裝盒直立,如書般擺放。堆疊式放置會令紙盒被壓皺。
6.不論積木款式大小,都能有效升值。
7.迷你人型樂高積木回報率甚高。
 
(光明日報
http://www.guangming.com.my/node/279192?tid=84

[转贴] Top Glove - 短短14年,给了投资者56倍的回酬 | 郭大侠的投资与美食分享之旅

回顾顶级手套上市至今的回酬,可以说非常惊人
短短14年,给了投资者56倍的回酬
能够长期拥有这么惊人回酬的上市公司,说真的在大马并不是很多,手套股基本上都拥有这么强大的复利能力(可以看看Harta上市至今的回酬也是非常惊人)

顶级手套于2001年3月27号在大马交易所主板挂牌
IPO价格每股RM 2.70
如果当时购入1000股的话,收取红股现在会有10,192股

顶级手套红股纪录如下
02年3月20号-10股送3股=1300股
03年3月20号-5股送2股=1820股
05年1月31号-1拆细成2=3640股
07年1月29号-5股送2股=5096股
10年7月10号-1股送1股=10192股
16年1月 -1股送1股=20384股(还未确定发放日起)

14年来的收取的股息也不少哦,总数达RM 11,982.75(还未加入第四季度业绩的15仙股息)
顶级手套的股息纪录如下

2001/5/15-中期息5 sen(RM 50)
2002/1/31-终期息3 sen(RM 30)
2003/2/11-第一和终期股息6 sen须扣税28%(RM 78)
2003/8/21-中期息4 sen(RM72.80)
2004/2/16-终期息6 sen须扣税28%(RM109.20)
2004/2/16-特别股息2 sen(RM36.40)
2004/8/23-中期息5 sen(RM91)
2005/2/16-终期息3 sen和1.5 sen须扣税28%(RM163.80)
2005/8/23-中期息3 sen(RM109.20)
2006/2/15-终期息3 sen和2 sen须扣税28%(RM182)
2006/8/23-中期息3.5 sen(RM127.40)
2007/2/14-终期息3 sen和2.5 sen须扣税28%(RM280.28)
2007/8/21-中期息4 sen(RM203.84)
2008/2/13-终期息3 sen和3 sen须扣税26%(RM305.76)
2008/8/22-中期息5 sen(RM254.80)
2009/2/13-终期息6 sen(RM305.76)
2009/8/21-中期息7 sen(RM356.72)
2010/2/11-终期息9 sen(RM458.64)
2010/2/11-特别股息6 sen(RM305.76)
2010/7/2-中期息14 sen(RM713.44)
2010/12/24-终期息9 sen(RM917.28)
2011/7/1-中期息5 sen(RM509.60)
2012/1/9-终期息6 sen(RM611.52)
2012/6/28-中期息7 sen(RM713.44)
2013/1/9-终期股息 9 sen(RM 917.28)
2013/6/27-中期股息 7 sen(RM 713.44)
2014/1/8-终期股息 9 sen(RM 917.28)
2014/7/1-中期股息 7 sen(RM 713.44)
2015/1/12-终期股息 9 sen(RM 917.28)
2015/6/30-中期股息 8 sen(RM 815.36)
2016/1 -终期股息 15 sen(RM 1,528.80)<---(还未发放)

这些都是当初购入1,000股持有至今没有卖出任何一股的回酬
我们来计算一下
10,192*13.7=RM 139,630.4
股息收入RM 11,982.75
总合RM 151,613.15
股息+红股持有至今56倍的回酬
这只是当初购入1,000股的回酬

如果拿来股息再投入进去,或者这14年来不断加码,相信有些投资者已经可以财务自由,退休去了
所以说一步一脚印的累积财富,不要有一步登天的想法

也是可以达成财务自由的,只是看自己有没有本身去坚持,直到自己财务自由为止

我相信愿意坚持的人很少,所以要好好努力,不能够轻言放弃

完成梦想到达成功的道路所要付出的绝对不少

郭大侠的投资与美食分享之旅 | 29 Dec 2015

100句超級實用的句子

每次用英文開口聊天,
是不是常常詞窮、話在心裡口難開?
或是你講的話,對老外來說根本是「文言文」?

這次小編搜集了100句超級實用的句子
保證學成之後,溝通不再有障礙,讓你擺脫菜英文!

學英文最致命的錯誤就是聽、寫、讀都很厲害,但是永遠開不了口!在了解超級實用的100句英文口語之前,讓我們來跟著 Emma 老師來學地表最強口說技巧!

1. I see. 我明白

2. I quit. 我不幹了

3. Hold on. 等一下

4. Allow me. 讓我來

5. My treat. 我請客

這句話很常用!在餐廳裡面如果想要大方請客,便可以說 My treat!
或是 It’s on me! 也可以。
Have fun and enjoy yourself! It’s on me tonight!
盡情享受吧!今晚我請客!

6. This way. 這邊請

7. After you. 您先請

這句話並不是按照中文字面翻譯“在你後面”的意思。而是有禮貌地請對方先走。

8. Bless you. 保佑你

當朋友或旁邊的人打噴嚏時,也可以用 Bless you 來表達你的關心!

9. Forget it! 別說了、算了吧、休想

A: How’s your term paper going?
你的報告做得怎麼樣了?
B: Oh, forget it! I haven’t even started yet!
哎!別說了!我根本還沒開始呢!

10. Good luck! 祝好運

11. I promise. 我保證

除了 I promise 之外,也可以用 You have my word 來表達同樣意思!
I’ll take care of him. You have my word.
我會好好照顧他,我答應你的

12. Watch out! 小心!

13. What’s up? 怎麼啦?

What’s up 同時也是打招呼用語哦!
A: Hey, Mike! What’s up?
嘿!麥克!最近怎麼樣呀?
Mike: Not much.
麥克:沒什麼囉!

14. Bottoms up! 乾杯!

cheers 以及 toast 也都有乾杯的意思。通常 cheers 屬於比較輕鬆的場合,而 toast 則是比較正式的敬酒。
*補充* make a toast 敬酒

15. I doubt it. 我懷疑

16. Never mind. 沒關係

*補充* It’s no big deal, Not at all 都具有同樣意思

17. That’s all. 就這樣

點餐時,如果講完自己要的東西,後面可以加 that’s all 服務生就知道你的意思了!
A: I’d like to have a roasted chicken sandwich and iced tea.
我想要一份烤雞三民治以及冰茶
Waiter: Anything else?
還需要其他的嗎
A: No. That’s all.
不,這樣就好

18. Count me in. 算我一份

朋友揪團的時候,可以講 count me in 代表你也想參加!如果沒興趣的話,則可以講 count me out
A: Do you want to go shopping for shoes tonight?
今晚要不要去逛街買鞋子呀?
B: Sure! Count me in!
好啊!算我一份!

19. He’s my age. 他跟我同歲

20. Take it easy. 放輕鬆

21. What a pity!太可惜了

22. Help yourself! 自己來吧!

這邊指的是自己動手、當自己家的意思!
A: Can I have some tea?
我可以來一點茶嗎?
B: Help yourself!
自己拿吧!

23. I’m on a diet. 我正在節食

24. Keep in touch. 保持聯絡

25. Who’s calling? 是哪位?

接電話時,如果不知道對方是何方神聖,就可以說 Excuse me, Who’s calling?

26. You set me up! 你出賣我!

27. You don’t say! 真的嗎?(表示驚訝)、可不是嗎?

這句話可不是叫你不要說話哦!依據不同語氣會衍伸出不同的意思。
情境1
A
: I saw my ex boyfriend dating with my best friend last night!
A: 我昨晚遇見我前男友跟我的好朋友在約會!
B: You don’t say!
B: 真的假的!
情境2
A
: My basketball sucks.
A: 我的籃球真是爛透了!
B: You don’t say!
B: 可不是嗎?

28. You can say that again! 我完全同意!

千萬別誤會,這句話不是在叫你重複一遍剛剛說的話,而是表達同意的意思!
A: David Beckham is the sexiest celebrity I’ve ever known.
貝克漢是我認識最性感的明星
B: You can say that again!
我完全同意啊!

29. Tell me about it! 就是說嘛!

字面上翻譯是「告訴我吧」,但配上不同語氣,會衍伸出「就是說嘛」、「這還用說嗎?」的意思
A: The economy is getting really bad. I can hardly afford my mortgage.
景氣越來越差了!我幾乎付不出我的房貸了
B: Tell me about it!
就是說嘛!

30. It’s up to you! 看你方便

31. You owe me one. 你欠我一次人情

32. I can’t help it. 我情不自禁

33. It depends. 看狀況

A: Would you like to have children in the future?
你未來想要生小孩嗎?
B: Well, it depends.
不知道耶,再看看吧

34. You ask for it! 你自討苦吃!

35. Don’t fall for it! 別上當

36. Don’t let me down 別讓我失望

其實就是 disappointed 的意思。也可以說 Don’t disappoint me.

37. I beg your pardon? 請你再說一遍

當對方講話講太快、聽不懂的時候,就可以說這句,請對方再重複一次!
*延伸* 【超實用】聽不清楚、聽不懂對方英文時該怎麼說?掌握菜英文也能和老外溝通順利的秘訣!

38. It’s a long story. 說來話長

A: Why did she end up breaking up with Tim? I though they’re going to get married in the near future!
A: 她怎麼會跟提姆分手?我以為他們就快要結婚了!
B: Well, it’s a long story.
B: 說來話長。

39. The walls have ears. 隔牆有耳

40. Don’t give me that! 少來這套

41. Go for it! 加油

也可以說 Try your best 或是 Give it a try

42. I’m flattered 過獎了

當有人稱讚你時,為了表示禮貌,可以回說 I’m flattered! 或是 I appreciate that 我感謝你這麼說
A: You’re the best leader I’ve ever met.
A: 你是我見過最厲害的領導人
B: Thank you. I’m flattered.
B: 謝謝!您過獎了

43. So far, so good 目前為止,一切都好

44. Be my guest 請便、別客氣

45. Let’s get to the point 我們講重點吧

46. That was close. 好險!

意思等同差點就做了某件事。
Did you see that? I was almost hit by the car! That was really close!
你有看到嗎?我差點就被那台車撞到了!好險!

47. Don’t play dumb. 別裝傻

48. Don’t give me that! 少給我來這套!

49. I’m stuffed. 我好飽

*補充*如果想要表達很餓的話,可以說 I’m starving! 或是 I can eat a horse.

50. I’m behind my work. 我的工作進度落後

51. It’s pain in the neck. 那真是件麻煩事、真的很討厭

Son, I don’t want to be a pain in the neck, but you really need to clean your room up!
兒子,我實在不是要讓你討厭,但你真的該把房間清理乾淨了!

52. You lucky bastard! 你真是狗屎運!

53. Wise up. 別傻了

Don’t be silly 也有同樣的意思
A: The boss promised to give us the bonus this year, didn’t he?
A: 老闆答應今年會給我們分紅獎金,對吧?
B: Don’t be silly! He is not being serious.
B: 別傻了!他只是說說而已!

54. I’m sitting on the fence. 保持中立

55. I’m dead meat! 我死定了

I have just failed my final exam. I’m dead meat now.
我剛搞砸了期末考,我真的死定了

56. Let’s go dutch. 我們平分吧

去餐廳吃完飯要結帳時,如果是要跟朋友平分費用,就可以使用 go dutch 哦!

57. Sort of. 大概吧、算是吧

這句話在國外已經被用到爛! sort of 主要可以表達三種語氣
第一種是沒有十足把握的時候,可以用來緩和語氣
A: Are there many people going to Mary’s birthday party?
A: 很多人要去瑪麗的生日趴嗎?
B: Well, sort of.
B: 不知道,我不清楚耶
第二種是不好意思當面直接拒絕,可以用來表示「不贊同」
*延伸*【實用英文】拒絕別人不要再只會說 “NO”!10句超實用英文拒絕短句!
A: Are you interested in playing football?
A: 你喜歡美式足球嗎?
B: Sort of. I’m more into baseball.
B: 還好。我比較喜歡棒球
第三種是不想正面回應對方的問題,表達某種程度上的認可
A: Is everything right in school?
A: 學校的一切都好嗎?
B: Well, sort of. I’ve made some friends.
B: 還可以,我交了一些朋友

58. Suit yourself. 隨便你

Suit yourself 屬於比較不耐煩的口氣,像是“隨你開心”這種感覺

59. Told you. 早就跟你說了吧!

60. That’s rubbish. 胡說!

跟 bullsh*t一樣意思 不過比較委婉!

61. Why bother? 何苦呢?不必麻煩了

62. He’s a night owl! 他是個夜貓子

雖然中文翻譯成「貓」,但是英文是用貓頭鷹哦!
*補充*
early bird 早鳥

63. You’re photogenic. 你很上相

64. You’ve got some nerves! 你真大膽

意同於 How dare you!
How dare you lecture us? Who do you think you are?
你好的膽子,居然敢教訓我們?你以為你是誰啊?

65. Believe it or not. 信不信由你

66. What’s in it for me? 我有什麼好處?

67. Great minds think alike. 英雄所見略同

A: I would like to learn French in the future.
A: 我未來想要學法文
B: Really? Great minds do think alike!
B: 真的嗎?果然是英雄所見略同

68. Can you spot me? 可以先幫我墊錢嗎?

常常在外面忘記帶錢包很尷尬?這句話就派上用場啦!
Excuse me, I forgot to bring my purse with me. Can you spot me?
不好意思,我忘記帶錢包了。可以先幫我墊錢嗎?

69. My fingers are all thumbs. 我笨手笨腳

這邊不是手指全部都是大拇指喔!是指一個人手拙、笨手笨腳

70. You’re so lame! 你真遜!

71. We’re in the same boat. 處境相同、同舟共濟

The unemployment rate is so high right now and everyone’s in the same boat. No one could find a job!
現今失業率實在是太高了,而大家處境相同,沒有人找得到工作!

72. I’m fed up with it! 我受夠了

也可以用 That’s enough 來表達

73. Don’t beat around the bush. 別拐彎抹角

74. It’s up in the air. 尚未決定

A: Hey! What are you going to do on Christmas?
A: 嘿!你聖誕節有要幹嘛嗎?
B: I’ll hang out with my girlfriend or stay home watching Netflix. It’s up in the air.
B: 我會跟女友出去玩,或是在家看影集。還沒決定!

75. It slipped my mind. 我忘記了

76. I’m working on it. 我正在努力了

77. You bet! 當然!

這句話是“百分之百確定”的意思,也是很常出現的口語之一。
A: He’s going to get the champion this year.
A: 他今年一定會得冠軍的。
B: You bet! He’s the superstar!
B: 那當然!他可是超級明星!

78. I’m going out on a limb. 我將要冒風險做某事

limb 原本是樹枝的意思。這邊指的是做這件事可能會有風險。要注意 limbb 不發音哦!

79. What’s your pet peeve? 你有什麼怪毛病嗎?

80. It’s all Greek to me. 我完全不懂

Greek 指的是希臘文的意思。希臘文一向被認為艱澀難學,所以引申為「難懂的事」

81. That’s a good gimmick. 這是一個好方法

意同於 It’s a good idea.

82. Gag me! 好噁!

gag 原意是把嘴巴塞住。通常我們看到一個很噁心的東西就會想吐,所以才要把嘴巴堵住,以免吐出來!
A: Did you see that old lady in the halter dress?
A: 你有看到那位穿著露背洋裝的老女士嗎?
B: Gosh! Gag me!
B: 天阿!好噁!

83. What’s eating you? 你有什麼煩惱?

84. She’s drop-dead gorgeous! 她真是美翻了!

drop dead 指的就是 extremelyvery 的意思。
與他相反的便是 plain-jane 樸實無華

85. I’m beat. 我累死了

86. Knock it off! 不要鬧了!

Kids, knock it off! It’s already 11 o’clock p.m.!
孩子們,別吵了!已經晚上十一點鐘了!

87. Stop pulling my leg! 別開我玩笑了!

pull my leg 可不是扯後腿的意思哦!扯後腿是 drag my feet
雖然都是腳,但是意思大不同呢!

88. No dice. 不行

89. Don’t panic! 別慌張!

90. He’s down and out. 他不行了

down and out 有窮途末路、窮困潦倒之意

91. What’s the fuss? 在吵什麼?

92. It’s a flash in the pan. 曇花一現

93. Not for my money. 我可不這麼認為

千萬別誤會,這句絕對不是字面上的意思!
A: I think that restaurant was really nice!
我覺得那間餐廳滿不錯的!
B: Not for my money. I felt so so.
我可不這麼認為,我覺得還好而已。

94. Put up or shut up. 要嘛你去做,要嘛就閉嘴。

常常遇到人只出一張嘴,卻不做事,這時候就可以叫他 Put up or shut up!

95. I got goose bumps! 我起雞皮疙瘩了!

Every time I heard that professor’s name; I got goose bumps!
每次只要我聽到那個教授的名字,我都會起雞皮疙瘩!

96. It’s a catch-22! 這真是進退兩難!

Catch 22 來自美國的作家約瑟夫海勒 (Joseph Heller) 的代表作 -第22條軍規 (Catch 22)。這條軍規規定,執行任務的飛行員們只有在精神失常的情況下才能由本人提出申請要求停止飛行。但是,如果一旦申請由本人提出,便是他沒發瘋的最好證據,因為「能意識到自身將發生安全上的立即危險,就證明這個人仍具有理智」。
現在衍伸為自相矛盾的規定,或是兩難的情況。

97. I beg to differ. 我不贊同

這句話在表達不同意的時候非常好用。當你想表達不同看法,但又不想造成尷尬的情況時,就可以使用這句。

98. He took the bait. 他上鉤了

bait 就是餌的意思。 take the bait 便是上當、受騙之意。

99. No hard feelings. 別見怪、別傷了和氣

當兩人不小心爭吵時,就可以使出這句來緩和氣氛!

100. Let’s call it a day! 今天就到此為止吧!

通常我們工作到一個段落,想要休息的時候,就會說 Let’s call it a day! 來結束這一天。

學了100句片語,是時候該 call it a day了!不過,學了這麼多實用的語句到底該怎麼應用?
別擔心!VoiceTube 幫你安排好每日口說練習句!搭配主持人發音、語調等詳細解說,一點一滴累積往 native speaker 程度邁進!

上游业者盈利下跌 下游油气股逆市站稳



(吉隆坡28日讯)由于油气领域不景,打击油气上游领域公司的盈利,不过,分析员却看好油气下游领域的公司,仍可在逆境中站稳脚步,交出亮眼的表现。
MIDF投资研究分析员在报告中指出,油气领域在今年弥漫着利空因素,美国原油和布兰特原油自今年初开始,各别下挫33.8%和34.9%。
除了原油价格低迷,我国的油气领域同样面对合约削减的窘境。
回顾2013年,共有404亿令吉的合约颁发予国内的服务供应商,而去年下半年油价开始走斜坡时,颁发的合约则减至约247亿令吉。
鉴于削减开销显著,今年的合约颁发总值约100亿至120亿令吉,已属称心的数额。
另外,在分析员所追踪的油气公司,饱受资产减值和岸外活动减少的冲击。今年首季的总业绩平均按年走跌11.9%,次季和第三季则各别按年下跌13.7%和14%。
不过分析员察觉到,大部分的盈利下跌的,皆是上游业者。
反观下游业者,如国油贸易(PETDAG,5681,主板贸服股)、国油石化(PCHEM,5183,主板工业产品股)、国油气体(PETGAS,6033,主板工业产品股)、大马天然气(GASMSIA,5209,主板贸服股)和科恩马(KNM,7164,主板工业产品股)的表现相对较好,但无可否认大型股的基本面估值仍过高。
分析员说,油价在今年的表现疲弱,迈入2016年,估计布兰特原油有望在明年下半年,以每桶50美元的价位交易。
分析员认为,油价低迷将会影响石油输出国组织(OPEC)成员减少产量,加上不利于勘探企业和生产项目,而未来的产量恐会面对下跌风险。
虽然油气领域的上游子业务价值链仍低迷不振,归咎于勘探和生产(E&P)的资本开销削减,不过,我国的下游子业务仍有望表现亮眼。
RAPID发酵带旺下游
在进入2016和2017年,边佳兰炼油与石油化工综合发展(RAPID)计划估计会发酵至极致,而受益的将是下游专长的油气公司,如科恩马和睦兴旺(MUHIBAH,5703,主板建筑股)。
再者,根据探听的消息显示,国油或会调动员工至下游行业,以准备在2019年为RAPID的动工准好准备。
鉴于利空因素笼罩油气领域,该分析员建议投资者选择油气领域的下游业者。
在边佳兰工程方面,分析员建议科恩马,因国油通过国油石化宣布3项在边佳兰石油综合中心(PIPC)的国油石化项目,而作为专属设施供应的科恩马有望受惠。
至于欲寻找盈利稳健下游公司的投资者,分析员则建议大马天然气,主要是实施的“奖掖式管理”(IBR)架构,有望交出更加亮眼的盈利表现。
油轮需求不敌低油价
尽管美国解禁原油出口,有望带动阿芙拉型油轮(Aframax Tanker)的需求,不过,似乎难抵油价和产量的残酷事实。
美国国会日前解除长达40年的石油出口禁令,理论上有利于油槽船的需求,因美国或会出口轻质和低硫原油至其他的市场,并持续进口重质和高硫原油。
联昌国际投行研究分析员指出,双向的贸易有助推动货运,若成事,阿芙拉型油轮将是首选。
该分析员说,美国能源署(EIA)在今年9月预估,若美国原油产量充足,出口或会上涨。不过,在油价低迷和美国原油产量的走跌下,出口量或维持不变。
分析员维持油槽船运输领域“中和”的评级,同时,重申油槽船的租金率恐会在明年下半年走软,并在后年探底。
虽然维持马国际船务(MISC,3816,主板贸服股)“增持”的投资评级和10.03的目标价,不过,建议投资者在明年上半年适时套利。




完成收购Johan 瓷砖 金兴工业半岛产能将增75%

完成收购Johan 瓷砖 金兴工业半岛产能将增75%

(吉隆坡28日讯)瓷砖制造商金兴工业(KIMHIN,5371,主板工业产品股)称,一旦完成收购Johan瓷砖后,其在半岛的产能将增加75%,每年达700万平方米。
早前,位于古晋的金兴工业,以2800万令吉收购Johan瓷砖在芙蓉的制造设备及资产,包括商标转让,且已在本月17日签署买卖协议。
值得注意的是,由武装部队基金局(LTAT)持有的莫实得(BSTEAD,2771,主板贸服股),是Johan瓷砖的母公司。
Johan瓷砖旗下有两座厂房,涉及制造及销售陶瓷釉面的墙、地砖,每年产能达300万平方米。
不过,厂房已在3个月前停止运作。
金兴工业在芙蓉的厂房,产能达400百万平方米。去年,该公司投资了3000万令吉在第二精良生产线,进而推高了产能。
收购Johan瓷砖之举,是金兴工业在近两年内,第二大的收购活动。
三个月内完成收购
早前,金兴工业也以2270万令吉,收购英国的Norcros工业私人有限公司。后者是澳洲Johnson砖瓦的主要进口商及经销商。
《星报》引述金兴工业执行主席蔡胜发(译音)报道,收购Johan瓷砖的活动在三个月内完成。
“随后,我们会分配员工重启厂房运作,估计厂房会在明年7月重新开跑。我们需要升级厂房,目前计划在2017年购买及添置新机械。”
收购Johan瓷砖可让公司提升在芙蓉的产能,并在半岛取得更好的市场地位,同时,加强供应不同产品的灵活度。
蔡胜发说,芙蓉厂房预计会在明年投资第三条新的生产线,以逐步建立产能,迎合古晋主要厂房任何的产能短缺。
古晋厂房目前产能达800万平方米,未来三年将逐渐减至500万平方米,主要是因为液化天然气价格高涨,而半岛厂房使用的是有补贴的管道天然气。