Last 0.86 MYR
Change Today +0.03 / 3.61%
Volume 1.9M
As of 4:54 AM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

furniweb industrial products (FURN) Snapshot

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08/25/14 - 0.94
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10/4/13 - 0.54
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furniweb industrial products (FURN) Details

Furniweb Industrial Products Berhad, an investment holding company, manufactures and sells upholstery webbings, covered elastic yarns, rigid webbings, safety webbings, and metal components for use in the furniture industry. Its products include covered elastic yarn, which is used in stretch fabrics, narrow elastic fabrics, socks, gloves, bandages, and other apparel; industrial and safety webbing that is used in lifting, lashing, and safety applications, such as cargo slings, tie downs, industrial safety harnesses, and helmet straps; and rubber strips and sheets for use primarily in sportswear, underwear, and swimwear. The company’s products also comprise meat netting for packing of meat, rootball netting for use in the transplant of trees and shrubs, and chicken loop; furniture webbing used primarily in the furniture industry as support for seats and the back of sofas; seat belt webbing used as safety device in automobiles; narrow elastic fabrics for intimate apparels; and recliners. In addition, it is involved in property holding and property development activities; and the trade of machinery and accessories, as well as the operation as a commission agent. The company sells its products primarily in Malaysia, the Asia Pacific, Europe, and North America. Furniweb Industrial Products Berhad was founded in 1983 and is headquartered in Seri Kembangan, Malaysia.

Founded in 1983

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furniweb industrial products (FURN) Key Developments

Furniweb Industrial Products Berhad Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Furniweb Industrial Products Berhad reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenue of MYR 20,544,000 against MYR 19,145,000 a year ago. Loss before tax was MYR 645,000 against profit before tax of MYR 2,079,000 a year ago. of 2013. This was mainly due to an increase in administrative expenses which was attributable to the expenses incurred pursuant to the Proposed Joint Venture and Proposed Diversification and costs for setting up the property development division of the Group during the quarter under review. Loss attributable to owners of the parent was MYR 769,000 or 0.85 sen per basic share against profit attributable to owners of the parent of MYR 1,567,000 or 1.73 sen per basic share a year ago. For the six months, the company reported revenue of MYR 39,589,000 against MYR 38,327,000 a year ago. Loss before tax was MYR 913,000 against profit before tax of MYR 2,819,000 a year ago. Loss attributable to owners of the parent was MYR 1,220,000 or 1.35 sen per basic share against profit attributable to owners of the parent of MYR 2,007,000 or 2.22 sen per basic share a year ago. Net cash used in operating activities was MYR 6,620,000 against net cash from operating activities of MYR 3,866,000 a year ago. Acquisition of property, plant and equipment was MYR 725,000 against MYR 181,000 a year ago.

Furniweb Industrial Products Berhad Appoints Hooi Kok Hoe as Chief Executive Officer of Property and Construction Division

The Board of Directors of Furniweb Industrial Products Berhad announced the appointment of Mr. Hooi Kok Hoe as the Chief Executive Officer of Property and Construction Division of the FIPB Group. Mr. Hooi, is responsible for spearheading the property development and construction projects of the FIPB Group.

Furniweb Industrial Products Berhad Proposes Joint Venture with Almaharta Sdn Bhd

Furniweb Industrial Products Berhad proposed joint venture with Almaharta Sdn Bhd (‘ASB’) in connection with the development of a parcel of leasehold land held under PN 45266, LOT 141, Section 88, town and district of Kuala Lumpur and state of Wilayah Persekutuan Kuala Lumpur, measuring approximately 15,033 square metres into a residential development; and proposed diversification of the principal activities of FIPB and its subsidiaries to include property development.


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Valuation FURN Industry Range
Price/Earnings 49.4x
Price/Sales 0.9x
Price/Book 1.0x
Price/Cash Flow 79.1x
TEV/Sales 1.0x

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