Saturday, June 18, 2022

YOCB (Yoong Onn Corporation Berhad)

 

-integrated designer, manufacturer, distributor and retailer of home linen and bedding accessories in the region

 

 

Own brand

Ann Taylor,Genova, Jean Perry, Louiss Case, Niki Cains, Novelle, Red Danielle

Own retail outlet

twenty-three (23) fully-owned Home’s Harmony retail outlets and six (6) Niki Cains Home Fashion Concept Store in Malaysia

 

Stock information

Number of share :160mil

Share price :RM1.04

Market capital :166.4 mil

Net cash company

-borrowing :7.5mil (short term plus long term)

-cash and equivalent :123 mil

 

 

2018

2019

2020

2021

2022 (YTD)

Revenue(mil)

205

238

201

205

158

PAT(mil)

25

23

15

23

21

Profit margin

12

10

7

11

14

 

Breakdown

(PBT/ million)

2018

2019

2020

2021

2022

(YTD)

Design and manufacturing

7.5

5.1

2.7

2.6

5.1

Distributing

17.3

15.6

9.4

17.0

14.5

Retail

6.8

8.3

5.6

10.2

9.3

 

 

Sale geography distribution

Mainly dosmestic.

-Export to countries including Australia, Brunei, Cambodia, Dubai, Fiji, Indonesia, Japan, Mozambique, Myanmar, New Caledonia, Nigeria, Papua New Guinea, Philippine, Singapore, Taiwan, Thailand, Turkey and Vietnam.

*export mainly contributed by Singapore and Vietnam.

 

Latest capital commitment based on QR on 31/3/2022:

Warehouse extension : 0.4 mil

Solar photovoltaic module system : 1.32 mil

 

Dividen policy

-, around 30% based on past record

Risks to business

1. Increase in raw material cost

https://tradingeconomics.com/commodity/cotton

2. Increase in labour cost

https://www.thestar.com.my/news/nation/2022/03/19/rm1500-minimum-wage-policy-comes-into-effect-may-1-says-pm

 

Strength

1. Intergrated business structure

2. Huge cash reserve

 


 

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