Bursa Malaysia - 5159
Bloomberg - YOCB:MK
Yahoo - 5159 .kl
Webpage - http://www.yoongonn.com/#
Yahoo - 5159 .kl
Webpage - http://www.yoongonn.com/#
Sector : Consumer Product and Services
Sub Sector : Household Goods
Company Profile
YOCB is a leading integrated designer, manufacture, distributor
and retailer of home linen and bedding accessories in the region. YOCB
has more than 10 main brands of home linen such as Novelle, Jean Perry,
Loius Casa, Genova, Niki Cains, Diana and Cotonsoft. YOCB has it own
retail outlets which are twenty two fully owned outlets of “Home’s
Harmony”.
YOCB export to more than seventeen counties namely Australia,
Brunei, Cambodia, Dubai, Fiji, Indonesia, Japan, Mozambique, New
Caledonia, Nigeria, Papua New Guinea, Philippines, Singapore, Taiwan,
Thailand, Turkey and Vietnam.
1) Operating Segment
YOCB consists of 3 main reporting segments as follow:
|
Segment
|
% 2019 Revenue
|
Asset Turnover
|
Return on Asset (%)
|
% 2019 CAPEX
|
|
Manufacturing
|
19.95
|
0.92
|
7.84
|
0.35
|
|
Distribution and Trading
|
56.67
|
1.57
|
16.53
|
90.84
|
|
Retailing
|
23.38
|
1.39
|
17.52
|
8.81
|
Manufacturing
Design and manufacturing of home linen and bedding accessories
Distribution and trading
Distribution and trading of home linen and homeware
Retailing
Retailing home linen and homeware
|
PROS:
|
|
è YOCB place large amount of CAPEX on Distribution and Trading
segment which has a good asset turnover and return on asset.
|
Financial Statement
YOCB had increased it Property, plant and equipment (PPE) from RM
49,158,000 in 2018 to RM 60,311,000 in 2019. In 27 November 2018 and 7
December 2018 YOCB had brought 2 level of office suite in EkoCheras
Office Suites which cost RM 6,790,8000 and RM 6,300,000 respectively.
YOCB had decrease it inventory from RM 103,468,000 in 2018 to RM
77,590,000 in 2019 while the trade receivable maintain which mean YOCB
able to sell more inventory in cash for 2019. Trade receivable past due
had decrease from RM 15,189,000 in 2018 to RM 12,890,000 in 2019.
YOCB short term investment, deposits with financial institutions
and cash and bank balances had increase from RM 39,120,000 in 2018 to RM
59,421,000 in 2019.
|
PROS:
|
|
è Selling more inventory in cash instead of account receivable in 2019 compared to 2018.
è Trade receivable past due had decrease by 15%.
è Increase of short term investment, deposits with financial institutions and cash and bank balances by 51.89 %
|
YOCB long term borrowing had increase from RM 333,000 in 2018 to
RM 8,258,000 in 2019 however YOCB total borrowing had reduce from RM
13,072,000 in 2018 to RM RM 9,276,000 in 2019.
|
PROS:
|
|
è Total borrowing had reduce by 29.04 %
|
Financial Ratio
|
Description
|
2019
|
2018
|
Different
|
|
Gross Profit Margin
|
39 %
|
47 %
|
-8 %
|
|
Net Profit Margin
|
9 %
|
12 %
|
-3 %
|
|
Interest Coverage Ratio
|
54.73
|
42.20
|
+12.53
|
|
Effective Tax
|
25 %
|
24 %
|
+1%
|
Warrant
No Warrant issue
Dividend and Bonus Issued for the past five year
YOCB had constant dividend for the past five year from 2015 – 2019
with the average of RM 0.044 with the dividend yield of 4.51 % base on
YOCB stock price of RM 0.975 on 17/1/2020
|
PROS:
|
|
è YOCB had dividend yield of 4.51 % for the past five year which is higher than fixed deposit of 2.9%
|
|
|
Market Research
No recent research
Estimated Price
IVKLS Price : RM 1.41
Peers
1) ENGKAH (7149)
2) LEESK (8079)
http://ivkls.blogspot.com/2020/01/stock-review-yocb-5159-yoong-onn.html
