【LAYHONG 9385 交流专区】丽鸿

icy97

短期盈利料放缓．丽鸿拓展业务放眼长期

（吉隆坡7日讯）丽鸿（LAYHONG，9385，主板消费品组）旗下业务拓展计划如火如荼进行，分析员认为短期内盈利料放缓，惟长期表现依然可期，加上有意脱售零售臂膀，有望降低净负债比。

丰隆研究在会晤丽鸿管理层后，发表报告指出，正面看待该公司的发展前景。

巴氏杀菌液体蛋产能倍增

丰隆指出，为了迎合需求潜在日渐增加的巴氏杀菌液体蛋，丽鸿计划拓展相关业务的产能，料在今年9月完成后，新产能将倍增至每月1000公吨。

拓展食品加工和鲜蛋业务

丰隆探悉，丽鸿将陆续进行更多的拓展计划，包括下游的食品加工和鲜蛋业务。

该行指出，预计鲜蛋业务拓展计划于2018财政年杪完成，产能将增加至每日300万颗蛋，下游的食品加工拓展计划料在2019财政年上半年完成，产能将增加至每月3200公吨。

丰隆指出，至于丽鸿的鸡肉块，因为延迟获得相关单位的批准，而导致拓展计划落后预期。

丰隆指出，丽鸿的鸡蛋和巴氏杀菌蛋出口尽管仅带来较低的营业额，惟却可以从更低的饲料成本中获得舒缓。

丰隆认为，丽鸿鸡肉块业务拓展计划逊于预期，因此下调该公司2018财政年财测7%至3790万令吉，不过，在拓展计划推动下，看好该公司长期前景，因此，维持2019和2020财政年财测。

丰隆相信，该行对于丽鸿的净利尚未反映出马币强势和巴氏杀菌蛋液新设备建设的利好。

丰隆指出，丽鸿有意进一步脱售手持的70%零售业务臂膀，此举料将拉低净负债比。

有意出清G-Mart股权

丽鸿在去年5月，脱售G-Mart 30%股权予PanPages，丰隆表示，丽鸿管理层有意出清剩余的70%股权，以专注在现有业务上。

截至2017年9月30日止，丽鸿的净负债和净负债比分别为1亿8600万令吉和0.64倍。

丰隆预计，在2018财政年和2019财政年资本开支分别为1亿和5000万令吉的情况下，该公司的净负债比在2018财政年料维持在0.65倍，不过，2019财政年有望降至少于0.5倍。

丰隆也认为，丽鸿将能从马币强势中获益，预计马币每走高10仙，将能提振丽鸿2018至2019财政年核心净利3.9%至4.3%。

该行预计，马币兑美元在2018至2019财政年，料维持在4.20令吉水平。

丰隆维持丽鸿“买入”评级和1令吉24仙目标价。

文章来源：
星洲日报‧财经‧报道：刘玉萍‧2018.02.07

icy97

令吉走强利丽鸿业绩
每增值10仙净利升4%

2018年2月9日
（吉隆坡9日讯）分析员认为，令吉走强有助提振丽鸿（LAYHONG，9385，主板消费产品股）业绩，并预计令吉每走高10仙，将推高2018和2019财年核心净利4.3%和3.9%。

丰隆投行研究分析员在报告中指出，推动丽鸿营业额增长的主要功臣，来自鸡蛋和巴氏杀菌蛋的出口，虽然令吉走强会拉低公司营业额，但饲料成本也会因此降低，因此整体上对公司净利正面。

分析员依然维持令吉兑美元增幅预测，即2018和2019财年为4.20令吉，并预计令吉每增值10仙，将能推动丽鸿2018和2019财年核心净利，分别提升4.3%和3.9%。

分析员点出，自去年11月17日以来，令吉已经升值了7.6%。

丽鸿管理层指出，该公司的巴氏杀菌液体鸡蛋工厂，自2018财年初面临生产瓶颈，这是因为韩国“污染鸡蛋”影响，加上餐厅和烘焙店提高对食品卫生的意识，促进亚洲地区对巴氏杀菌液体鸡蛋的需求。

为了迎合巴氏杀菌液体鸡蛋的需求不断增长潜力，该公司正在计划扩大巴氏杀菌液体鸡蛋领域的产能，预计今年9月完成。

该公司称，一旦完成，位于柔佛新生产设施的产能，将倍增至每月1000公吨。

分析员也说，丽鸿正在如期完成扩大下游食品加工和分层饲养（layer）领域的产能，一旦完成，分层领域的产能将增加三分之二，达每天300万个鸡蛋；截至2017财年，为每天180个鸡蛋。

而新下游食品加工厂的产能，为每月2000公吨，将推动丽鸿的目前产能劲扬167%，达到每月3200公吨。

至于肉鸡拓展计划，略微落后于分析员的预测，因为毫无预警延迟获得有关监管部门的批准。

拟沽清G-MART股权

另一方面，继在去年5月脱售G-MART的30%股权给PANPAGES后，管理层打算进一步脱售剩余的70%，以专注在面包和黄油业务，这占该公司税前盈利的99%。

“这项脱售活动，将能减轻丽鸿的净负债水平。”

分析员点出，截至去年9月30日，丽鸿的净债务和净负债率，分别为1亿8600万令吉和0.64倍。

鉴于该公司正在进行中的未来资本开销计划，即2018财年和2019财年分别为1亿令吉和5000万令吉，

分析员预计，该公司的净负债在2018财年维持在0.65倍，但2019财年会降低至少于0.5倍。

考虑到肉鸡产能拓展计划缓慢，分析员下调2018财年核心净利预测7%。

无论如何，受到扩展计划支撑，以及与日本NH Foods集团联营，分析员维持正面看待丽鸿的长期净利增长前景，并维持2019和2020财年预测。



【e南洋】

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2017

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

1	Revenue	228,189	171,680	615,779	501,612
2	Profit/(loss) before tax	13,880	7,859	37,760	14,233
3	Profit/(loss) for the period	11,287	10,108	29,885	14,792
4	Profit/(loss) attributable to ordinary equity holders of the parent	10,111	8,612	26,704	12,572
5	Basic earnings/(loss) per share (Subunit)	1.66	1.42	4.39	2.08
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		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 ($$)	0.4900		0.4500

icy97

Type	Announcement
Subject	OTHERS
Description	LAY HONG BERHAD ("LHB" OR THE "COMPANY")PROPOSED INVESTMENT IN A NEW PASTEURIZED LIQUID EGGS PROCESSING FACILITY IN ISKANDAR HALAL PARK, PASIR GUDANG, JOHOR
The Board of Directors (“Board”) of LHB wishes to announce that the Board has approved the investment of a new pasteurized liquid eggs processing facility in a semi detached factory in Iskandar Halal Park, Pasir Gudang, Johor by Lay Hong Liquid Egg Sdn Bhd (“LHLE”) a wholly-owned subsidiary of the Company (“the Investment” or “the Project”). Please refer to the attachment for the full text of the announcement. This announcement is dated 23 March 2018.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5734361

Attachments Iskandar Halal Park 23.03.2018.pdf

icy97

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2018	31 Mar 2017	31 Mar 2018	31 Mar 2017
		$$'000	$$'000	$$'000	$$'000

1	Revenue	224,623	174,349	840,402	675,961
2	Profit/(loss) before tax	15,467	7,710	53,227	21,943
3	Profit/(loss) for the period	10,968	4,614	40,853	19,406
4	Profit/(loss) attributable to ordinary equity holders of the parent	10,993	5,684	37,697	18,256
5	Basic earnings/(loss) per share (Subunit)	1.76	0.93	6.15	3.02
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		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 ($$)	0.5100		0.4500

icy97

LAY HONG BERHAD

1. Details of Corporate Proposal
Involve issuance of new type/class of securities ?	No
Types of corporate proposal	Exercise of Warrants
Details of corporate proposal	Exercise of Warrants 2016/2021
No. of shares issued under this corporate proposal	10,087,000
Issue price per share ($$)	Malaysian Ringgit (MYR)   0.4000
Par Value($$) (if applicable)	Malaysian Ringgit (MYR)   0.000
Latest issued share capital after the above corporate proposal in the following
Units	639,744,100
Issued Share Capital ($$)	Malaysian Ringgit (MYR) 134,147,640.000
Listing Date	01 Jun 2018

icy97

LAY HONG BERHAD

1. Details of Corporate Proposal
Involve issuance of new type/class of securities ?	No
Types of corporate proposal	Exercise of Warrants
Details of corporate proposal	Exercise of Warrants 2016/2021
No. of shares issued under this corporate proposal	12,595,000
Issue price per share ($$)	Malaysian Ringgit (MYR)   0.4000
Par Value($$) (if applicable)	Malaysian Ringgit (MYR)   0.000
Latest issued share capital after the above corporate proposal in the following
Units	652,339,100
Issued Share Capital ($$)	Malaysian Ringgit (MYR) 139,185,640.000
Listing Date	06 Jun 2018

icy97

icy97

Type	Announcement
Subject	OTHERS
Description	LAY HONG BERHAD ("Lay Hong" or the "Company") Final Single Tier Dividend
Lay Hong is pleased to announce that the Board of Directors of the Company has declared a Final Single Tier Dividend of 0.5 sen per ordinary share for the financial year ended 31 March 2018. The dates of entitlement and payment will be announced later. This announcement is dated 25 June 2018.

icy97

LAY HONG BERHAD

EX-date	18 Oct 2018
Entitlement date	22 Oct 2018
Entitlement time	05:00 PM
Entitlement subject	Final Dividend
Entitlement description	Final Single Tier Dividend of 0.5 sen per ordinary share
Period of interest payment	to
Financial Year End	31 Mar 2018
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	SECURITIES SERVICES (HOLDINGS) SDN BHDLevel 7, Menara MileniumJalan Damanlela, Pusat Bandar DamansaraDamansara Heights50490 Kuala LumpurTel:03-20849000Fax:03-20949940
Payment date	15 Nov 2018
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	22 Oct 2018
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	0.005
Par Value (if applicable)	Malaysian Ringgit (MYR) 0.000

icy97

Type	Announcement
Subject	MEMORANDUM OF UNDERSTANDING
Description	LAY HONG BERHAD ("LHB" or the "Company")Memorandum of Understanding between LHB and JERNIH KEJORA SDN BHD ("JKSB")
The Board of Directors of LHB wishes to announce that the Company had on 30 July 2018 entered into a Memorandum of Understanding with JKSB for the proposed disposal of 34 Acres property at Lot 559, Ijok, Kuala Selangor. The details of the announcement are set out in the attached file. This announcement is dated 1 August 2018.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5873581

Attachments Announcement - MOU JKSB.pdf

icy97

Type	Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID	IQL-02082018-00001
Subject	MEMORANDUM OF UNDERSTANDING ("MOU") ENTERED INTO BETWEEN LAY HONG BERHAD ("LAYHONG") AND JERNIH KEJORA SDN BHD ("JKSB") (PROPOSED DISPOSAL)
Description	LAY HONG BERHAD REPLY TO QUERY
Query Letter Contents	We refer to your Company’s announcement dated 1 August 2018, in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:- Detailed information of the Property as required under item (1)(a) to (h) of Part C of Appendix 10A of the Main Market Listing Requirements (“MMLR”) (where relevant); It is noted that the net book value of the Property as at 31 March 2016 is RM31,156,000 (“NBV”). In this regard, please state the following additional information: detailed basis and justification in arriving at the disposal consideration of RM27,600,000; original cost of investment and date of investment in the Property; and further justification on the rationale for disposing the Property at a price below its NBV. The expected gains or losses to the group as well as the financial effects of the Proposed Disposal on its earnings per share, net assets per share and gearing; Further clarity as to whether the entire proceeds from the disposal consideration will be used to reduce the Group’s borrowings. If yes, to disclose also the Group’s total borrowings as at the latest date and net interest saving per annum.  If it is not, please provide the breakdown of the intended application of the disposal consideration including the timeframe for full utilisation of proceeds; Full details of the condition precedent to be fulfilled prior to the execution of the sale and purchase agreement (“SPA”); Whether the MOU is legally binding and the rationale for your company to enter into the MOU first instead of the SPA; Name of directors and substantial shareholders of JKSB together with their shareholdings; Whether the Proposed Disposal involves the interest, direct or indirect, of the directors and/or major shareholders and/or persons connected with the director or major shareholder; The highest percentage ratio applicable to the Proposed Disposal pursuant to paragraph 10.02(g) of the MMLR; and Whether the Proposed Disposal is subject to the shareholder approval and the relevant government authorities’ approval.
We refer to the letter dated 2 August 2018 from Bursa Securities Berhad with regard to the above, requesting with the following additional information for public release. The details of the announcement are set out in the attached file. This announcement is dated 3 August 2018.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5876257

Attachments LHB - MOU JKSB.pdf Appendix 1.pdf

icy97

Type	Announcement
Subject	MEMORANDUM OF UNDERSTANDING
Description	LAY HONG BERHAD ("LHB" or the "Company")Memorandum of Understanding between LHB and JERNIH KEJORA SDN BHD ("JKSB")
Reference is made to the announcements of the Company dated 1 August 2018 and 3 August 2018 in respect of the Memorandum of Understanding (“MOU”) entered into between the Company and JKSB. The Company would like to clarify that there are no condition precedents in respect of the MOU. However, JKSB is accorded four months from the date of the signing of the MOU by LHB (or such extended period as may be agreed upon between LHB and JKSB) to execute the Sale and Purchase Agreement (“SPA”) and to do the necessary actions as follows:- a due diligence exercise on the infrastructure needs; funding arrangements; and securing the necessary approvals from the Board of Directors of JKSB. The Company would like to further inform that the condition precedents of the SPA are currently pending finalization. This announcement is dated 7 August 2018.

icy97

icy97

成本上升 丽鸿首季净利挫48%
Syahirah Syed Jaafar/theedgemarkets.com
August 27, 2018 20:21 pm +08

（吉隆坡27日讯）由于汇率上涨导致饲料成本上升，综合畜牧公司丽鸿（Lay Hong Bhd）首季净利按年下挫48%。

该集团今日向大马交易所报备，截至6月杪2019财政年首季净利为228万令吉，或每股0.36仙，低于上财年同期的442万令吉，或每股0.73仙。

季度营业额则从1亿8304万令吉，增9%至1亿9925万令吉，归功于新农场提高蛋产量，使到销量增加，以及冷冻产品和巴氏杀菌液体蛋的销量和价格上升。

丽鸿预计，在业者决定减产以调整供过于求的情况后，未来一季度的平均蛋价将会正常化。

“对于液体蛋业务，柔佛新厂的设备调试正按计划逐步进行，且与日本NH Food Ltd联营公司的制造厂房建设也按时进行，并预计第四季投运。”

至于汇率，该集团指出，最近美元兑令吉走强，导致所有进口原料和包装材料，尤其是饲料成本上涨，这将影响未来的获利。

（编译：陈慧珊）

SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2018	30 Jun 2017	30 Jun 2018	30 Jun 2017
		$$'000	$$'000	$$'000	$$'000

1	Revenue	199,253	183,035	199,253	183,035
2	Profit/(loss) before tax	2,005	8,201	2,005	8,201
3	Profit/(loss) for the period	2,273	6,183	2,273	6,183
4	Profit/(loss) attributable to ordinary equity holders of the parent	2,283	4,421	2,283	4,421
5	Basic earnings/(loss) per share (Subunit)	0.36	0.73	0.36	0.73
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		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 ($$)	0.5000		0.5000

dare2join

公司自己已经先跑路了，一遍放货一遍散布一些好到分析报告吸引散户贪心去趁低吸纳
今天最少跌至0.5
暂时还是不太敢接这把刀。。。

icy97

icy97

icy97

联营日企新厂投产-丽鸿冀贡献2100万净利
http://www.enanyang.my/news/20181113/联营日企新厂投产-丽鸿冀贡献2100万净利/