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)
