New Risk • May 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Significant insider selling over the past 3 months (HK$1.0m sold). Market cap is less than US$100m (HK$221.6m market cap, or US$28.3m). Announcement • Apr 21
Furniweb Holdings Limited, Annual General Meeting, May 14, 2026 Furniweb Holdings Limited, Annual General Meeting, May 14, 2026, at 10:00 Singapore Standard Time. Location: unit 4.02, level 4, plaza damansara block a, bukit damansara, 50490 kuala lumpur, Malaysia Reported Earnings • Apr 04
Full year 2025 earnings released: EPS: RM0.031 (vs RM0.015 in FY 2024) Full year 2025 results: EPS: RM0.031 (up from RM0.015 in FY 2024). Revenue: RM234.3m (up 23% from FY 2024). Net income: RM27.1m (up 201% from FY 2024). Profit margin: 12% (up from 4.7% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Mar 17
Upcoming dividend of HK$0.015 per share Eligible shareholders must have bought the stock before 24 March 2026. Payment date: 23 April 2026. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 6.2%. Lower than top quartile of Hong Kong dividend payers (6.8%). Higher than average of industry peers (4.2%). Announcement • Mar 16
Furniweb Holdings Limited to Report Fiscal Year 2025 Results on Mar 30, 2026 Furniweb Holdings Limited announced that they will report fiscal year 2025 results at 4:00 PM, China Standard Time on Mar 30, 2026 New Risk • Mar 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (HK$123.7m market cap, or US$15.8m). Reported Earnings • Aug 20
First half 2025 earnings released: EPS: RM0.014 (vs RM0.007 in 1H 2024) First half 2025 results: EPS: RM0.014 (up from RM0.007 in 1H 2024). Revenue: RM113.1m (up 32% from 1H 2024). Net income: RM11.7m (up 169% from 1H 2024). Profit margin: 10% (up from 5.1% in 1H 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Aug 04
Furniweb Holdings Limited to Report Q2, 2025 Results on Aug 14, 2025 Furniweb Holdings Limited announced that they will report Q2, 2025 results on Aug 14, 2025 Announcement • Jul 03
Furniweb Holdings Limited Announces Resignation of Au Yeung Yiu Chung as Joint Company Secretaries, Effective June 30, 3035 The board of directors of Furniweb Holdings Limited announced that Mr. Au Yeung Yiu Chung ("Mr. Au Yeung"), has resigned as a Joint Company Secretary with effect from 30 June 2025. Ms. Cheng Lucy will act as the sole company secretary of the Company with effect from 30 June 2025. Announcement • May 15
Furniweb Holdings Limited Approves Final Dividend for the Year Ended 31 December 2024 Furniweb Holdings Limited at its AGM held on May 15, 2025 approved final dividend of HKD 0.01 per share of the Company for the year ended 31 December 2024. Announcement • Apr 17
Furniweb Holdings Limited Proposes Final Dividend for the Year Ended 31 December 2024 Furniweb Holdings Limited at its AGM held on 15 May 2025 proposed final dividend of HKD 0.01 per share of the Company for the year ended 31 December 2024. New Risk • Mar 30
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 4.3% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Market cap is less than US$100m (HK$212.4m market cap, or US$27.3m). Announcement • Mar 28
Furniweb Holdings Limited announces Annual dividend, payable on June 20, 2025 Furniweb Holdings Limited announced Annual dividend of HKD 0.0100 per share payable on June 20, 2025, ex-date on May 26, 2025 and record date on May 27, 2025. Announcement • Mar 27
Furniweb Holdings Limited, Annual General Meeting, May 15, 2025 Furniweb Holdings Limited, Annual General Meeting, May 15, 2025. Reported Earnings • Mar 27
Full year 2024 earnings released: EPS: RM0.015 (vs RM0.021 in FY 2023) Full year 2024 results: EPS: RM0.015 (down from RM0.021 in FY 2023). Revenue: RM191.1m (down 12% from FY 2023). Net income: RM9.03m (down 28% from FY 2023). Profit margin: 4.7% (down from 5.7% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Mar 12
Furniweb Holdings Limited to Report Fiscal Year 2024 Results on Mar 26, 2025 Furniweb Holdings Limited announced that they will report fiscal year 2024 results on Mar 26, 2025 New Risk • Mar 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (21% accrual ratio). Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (HK$127.4m market cap, or US$16.4m). New Risk • Feb 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (21% accrual ratio). Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (HK$124.6m market cap, or US$16.0m). New Risk • Feb 18
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 53% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (21% accrual ratio). Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Minor Risk Market cap is less than US$100m (HK$94.2m market cap, or US$12.1m). Announcement • Dec 20
Furniweb Holdings Limited Appoints Tai Lung Hsing as Independent Non- Executive Director and Member of Each of the Audit Committee, Remuneration Committee, Nomination Committee and Risk Management Committee The board of directors of Furniweb Holdings Limited announced the appointment of Ms. Tai Lung Hsing ("Ms. Tai"), otherwise known as in Chinese, as an independent non- executive Director with effect from 20 December 2024. Ms. Tai, aged 54, holds a master's degree in Business Administration from University of South Australia, which she obtained in 2001. Ms. Tai has an extensive experience in managing human resources across various multinational corporations and industries. During the period from February 2006 to December 2009, she was the Human Resource Director of Volkswagen Group Malaysia. She subsequently joined Audi China as Regional Human Resources Director until February 2013. She was the Vice President of Human Resources, Global Operations, of Beijing Automotive International Corporation, a subsidiary of BAIC Motor Corporation Limited (stock code: 1958) from June 2013 to March 2015, where she led a larger human resources team, further honing her leadership skills in a different organisational context. She was the Vice President of Human Resources, Greater China and Director of Human Resources Business Partners, Asia-Pacific of Faraday Future Electric Vehicles and FCA Fiat Chrysler Automobiles, from April 2015 to January 2016 and from February 2016 to June 2018, respectively. During the period from July 2018 to December 2020, Ms. Tai was the Head of Human Resources, Greater China, and Diversity & Inclusion Officer, Mainland China of National Basketball Association (NBA) China. Ms. Tai is currently a consulting advisor of Lee Hecht Harrison and Hello Ezra through the engagement with LHH DBM Management Consulting (Shanghai) Co. Ltd. She is also the founder of Xinmoer (Shanghai) Technology Co. Ltd. (), Furong (Shanghai) Enterprise Management Consulting Co. Ltd. () and 5M Technology Sdn. Bhd. Ms. Tai's appointment as an independent non-executive Director commenced from 20 December 2024 with one year term and shall continue yearly thereafter until being terminated by not less than two months' written notice served by either party on the other. Her office as an independent non- executive Director is subject to retirement by rotation and re-election at the Company's annual general meeting in accordance with the provisions of the Company's articles of association. With effect from 20 December 2024, Ms. Tai has been appointed as a member of each of the audit committee, remuneration committee, nomination committee and risk management committee of the Company. In accordance with the Company's articles of association, Ms. Tai, who was appointed as a Director by the Board, will hold office until the conclusion of the next general meeting of the Company. At that time, being eligible, she will offer herself for re-election at such general meeting of the Company. New Risk • Nov 25
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: HK$77.6m (US$9.97m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (21% accrual ratio). Market cap is less than US$10m (HK$77.6m market cap, or US$9.97m). Announcement • Sep 30
Furniweb Holdings Limited Announces Management Changes Furniweb Holdings Limited announced the following changes: Dato' Lua Choon Hann (Dato' Lua) resigned as (i) an executive Director, (ii) compliance officer, (iii) authorized representative under the GEM Listing Rules and (iv) a member of each of the risk management committee, nomination committee and remuneration committee of the company with effect from 30 September 2024 due to personal reason. With effect from 30 September 2024, Mr. Andrew Chan Lim-Fai was appointed as a compliance officer under the GEM Listing Rules and a member of each of the risk management committee, nomination committee and remuneration committee of the company. As at the date of this announcement, Mr. Andrew Chan Lim-Fai: (a) was the executive Director of the Company; (b) was Group Managing Director of PRG Holdings Berhad; (c) is the brother-in-law of Mr. Ng Tzee Penn, a non-executive Director, and the son-in-law of Mr. Ng Yan Cheng, a substantial shareholder of the Company; and (d) was the authorized representative of the Company under the GEM Listing Rules. With effect from 30 September 2024, Mr. Tan Chuan Dyi was appointed as an authorized representative under the GEM Listing Rules. As at the date of this announcement, Mr. Tan Chuan Dyi: (a) was the executive Director of the Company; (b) was the Managing Director of Manufacturing Division of the Company; and(c) had been appointed as an independent non-executive director of Naim Holdings Berhad since February 2017. New Risk • Aug 09
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (HK$84.8m market cap, or US$10.9m). Reported Earnings • Aug 09
First half 2024 earnings released: EPS: RM0.007 (vs RM0.004 in 1H 2023) First half 2024 results: EPS: RM0.007 (up from RM0.004 in 1H 2023). Revenue: RM85.4m (down 20% from 1H 2023). Net income: RM4.35m (up 75% from 1H 2023). Profit margin: 5.1% (up from 2.3% in 1H 2023). Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • Jul 29
Furniweb Holdings Limited to Report First Half, 2024 Results on Aug 08, 2024 Furniweb Holdings Limited announced that they will report first half, 2024 results on Aug 08, 2024 New Risk • May 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (20% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.7% net profit margin). Market cap is less than US$100m (HK$120.3m market cap, or US$15.4m). Announcement • Apr 16
Furniweb Holdings Limited, Annual General Meeting, May 08, 2024 Furniweb Holdings Limited, Annual General Meeting, May 08, 2024, at 10:00 China Standard Time. Location: Lot 1883, Jalan KPB9, Kg. Bharu Balakong, Seri Kembangan Selangor Malaysia Agenda: To receive and approve the audited consolidated financial statements of the Company and its subsidiaries and the reports of the directors and the auditors of the Company for the year ended 31 December 2023; to re-elect the Directors, each as a separate resolution; to re-appoint ZHONGHUI ANDA CPA Limited as the Auditors for the year ending 31 December 2024 and to authorise the Board to fix the remuneration of the Auditors; and to consider other matters. Reported Earnings • Mar 27
Full year 2023 earnings released: EPS: RM0.021 (vs RM0.032 in FY 2022) Full year 2023 results: EPS: RM0.021 (down from RM0.032 in FY 2022). Revenue: RM216.8m (up 34% from FY 2022). Net income: RM12.5m (down 31% from FY 2022). Profit margin: 5.7% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Mar 26
Furniweb Holdings Limited Announces the Appointment of Mr. Andrew Chan Lim-Fai as an Executive Director The board of directors of Furniweb Holdings Limited announced the appointment of Mr. Andrew Chan Lim-Fai ("Mr. Chan") as an executive Director with effect from 25 March 2024. Mr. Chan, aged 44, is a seasoned business leader with experience in consulting. Mr. Chan graduated with a Bachelor of Science degree from the Leonard N. Stern School of Business at the New York University in 2001. Mr. Chan has held positions at multinational corporations. He was a manager in Accenture Pte. Ltd.'s management consulting and integrated markets growth platform in 2008. He was also the managing director of Transport - Singapore at Grab Holdings Inc. in 2021. Announcement • Mar 14
Furniweb Holdings Limited to Report Fiscal Year 2023 Results on Mar 25, 2024 Furniweb Holdings Limited announced that they will report fiscal year 2023 results on Mar 25, 2024 New Risk • Jan 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (HK$168.4m market cap, or US$21.6m). Reported Earnings • Nov 09
Third quarter 2023 earnings released: EPS: RM0.004 (vs RM0.006 in 3Q 2022) Third quarter 2023 results: EPS: RM0.004 (down from RM0.006 in 3Q 2022). Revenue: RM47.0m (up 45% from 3Q 2022). Net income: RM2.62m (down 30% from 3Q 2022). Profit margin: 5.6% (down from 12% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • Oct 28
Furniweb Holdings Limited to Report Q3, 2023 Results on Nov 08, 2023 Furniweb Holdings Limited announced that they will report Q3, 2023 results on Nov 08, 2023 Announcement • Sep 20
Omen Wealth Limited entered into the agreement to acquire Meinaide Holdings Group Limited from Furniweb Holdings Limited (SEHK:8480) for HKD 15 million. Omen Wealth Limited entered into the agreement to acquire Meinaide Holdings Group Limited from Furniweb Holdings Limited (SEHK:8480) for HKD 15 million on September 19, 2023. As at 30 June 2023, the net asset value of Meinaide was HKD 16.764 million. The transaction is conditional on Omen being reasonably satisfied with the results of the due diligence exercise, the receipt from Furniweb of all such waivers, consents or other documents as Omen may require in relation to the completion of the deal, no material adverse change or prospective material adverse change in the business of Meinaide and Omen being satisfied that, from the date of the agreement and at any time before the completion, that the Furniweb’s warranties remain true, accurate and not misleading and that no events have occurred that would result in any breach. The transaction is expected to close six months from the signing of the agreement. Reported Earnings • Aug 09
Second quarter 2023 earnings released: RM0.002 loss per share (vs RM0.004 profit in 2Q 2022) Second quarter 2023 results: RM0.002 loss per share (down from RM0.004 profit in 2Q 2022). Revenue: RM46.7m (up 68% from 2Q 2022). Net loss: RM1.26m (down 158% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Jul 29
Furniweb Holdings Limited to Report First Half, 2023 Results on Aug 08, 2023 Furniweb Holdings Limited announced that they will report first half, 2023 results on Aug 08, 2023 Announcement • Jul 04
Furniweb Holdings Limited Appoints Er. Kang Boon Lian as an Executive Director The board of directors of Furniweb Holdings Limited announced the appointment of Er. Kang Boon Lian ("Er. Kang") as an executive Director with effect from 1 July 2023. Er. Kang, aged 53, graduated from the National University of Singapore with a Degree of Bachelor of Engineering (Mechanical) in July 1994. Er. Kang has over 25 years of international management experience in the Heating, Ventilation and Air-conditioning ("HVAC") industry ranging from business development to engineering applications and training. In October 2013, Er. Kang joined Measurement & Verification Pte Ltd, a subsidiary of the Group's energy efficiency division and currently titled as Managing Director to help design and implement high efficiency HVAC systems. In June 2009, Er. Kang was appointed as a Business Development and Sales Director, Asia Energy Services in Trane and in January 2013, he was appointed as a Regional Manager, Business Development Retrofit Solutions, Service Asia in Johnson Controls (S) Pte Ltd. Er. Kang was appointed in July 2012 as an Ambassador for the Singapore's Building and Construction Authority (BCA) and as a committee member of BCA Energy Auditor Registration Committee in between July 2016 and June 2019. Er. Kang has also been a member of the Working Group appointed by the Technical Committee on Building Maintenance and Management for the Singapore Standard on Chiller Plant Measurement and Verification in November 2013 and the Singapore Standard on Air-conditioning and Mechanical Ventilation in Buildings in April 2016. Er. Kang has entered into a letter of appointment with the Company with a term of three years commencing from 1 July 2023 and renewable subject to review by the Board upon expiry of the then current term of his appointment, unless terminated in accordance with the terms of his letter of appointment. Er. Kang is also subject to retirement by rotation and re-election in accordance with the provisions of the articles of association of the Company. Pursuant to the letter of appointment, Er. Kang will receive a salary of approximately HK$1.46 million per annum and such other emoluments and/or discretionary management bonus as may be determined by, and at the absolute discretion of, the Board from time to time. Such other emolument of Er. Kang and his discretionary management bonus would be determined with reference to various factors such as duties and level of responsibilities of Er. Kang, the performance of Er. Kang and the Group's performance for the financial year concerned and the prevailing market conditions and based on the recommendation from the remuneration committee of the Board. No director's fee will be paid to Er. Kang in respect of his appointment as an executive Director of the Company other than the salary and such other emoluments mentioned above. Reported Earnings • May 10
First quarter 2023 earnings released: EPS: RM0.006 (vs RM0.005 in 1Q 2022) First quarter 2023 results: EPS: RM0.006 (up from RM0.005 in 1Q 2022). Revenue: RM60.2m (up 100% from 1Q 2022). Net income: RM3.75m (up 29% from 1Q 2022). Profit margin: 6.2% (down from 9.7% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: RM0.032 (vs RM0.001 loss in FY 2021) Full year 2022 results: EPS: RM0.032 (up from RM0.001 loss in FY 2021). Revenue: RM162.2m (up 22% from FY 2021). Net income: RM18.2m (up RM18.9m from FY 2021). Profit margin: 11% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Chee Lee was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 02
Furniweb Holdings Limited to Report Nine Months, 2022 Results on Nov 10, 2022 Furniweb Holdings Limited announced that they will report nine months, 2022 results on Nov 10, 2022 Announcement • Aug 30
Furniweb Holdings Limited (SEHK:8480) completed the acquisition of the remaining 62.8% stake in Energy Solution Global Limited from Dato’ Ng Yan Cheng for MYR 31.4 million. Furniweb Holdings Limited (SEHK:8480) entered into the sale and purchase agreement to acquire the remaining 62.8% stake in Energy Solution Global Limited from Dato’ Ng Yan Cheng for MYR 31.4 million on June 8, 2022. As per the terms, 6,275 ordinary shares will be acquired. 25% of the Consideration in the sum of MYR 7.9 million, shall be satisfied by the allotment and issuance of the consideration Shares of 41,565,600 upon Completion, 25% of the consideration of MYR 7.9 millions shall be paid by cash on the date falling six (6) months from the completion date and the remaining 50% of the Consideration in the sum of MYR 15.7 million shall be paid in cash if and only if Energy Solution achieves the guaranteed profit. The cash consideration will be funded by internal resources of the Group. As of December 31, 2021, Energy Solution Global reported revenue of MYR 39.1 million, profit after taxation of MYR 3.2 million and net assets of MYR 17.2 million. The transaction is subject to due diligence, approval of shareholder of Furniweb Holdings Limited, the GEM Listing Committee granting the listing of, and permission to, deal in the Consideration Shares and the Additional Consideration Shares and obtaining by PRG of the approvals from Bursa Securities and its shareholders. Lego Corporate Finance Limited and Octal Capital Limited acted as financial advisors for Furniweb Holdings Limited in the transaction. As of June 30, 2022, the deal has been approved by shareholders of Furniweb.
Furniweb Holdings Limited (SEHK:8480) completed the acquisition of the remaining 62.8% stake in Energy Solution Global Limited from Dato’ Ng Yan Cheng on August 29, 2022. Reported Earnings • Aug 10
Second quarter 2022 earnings released: EPS: RM0.004 (vs RM0.025 in 2Q 2021) Second quarter 2022 results: EPS: RM0.004 (down from RM0.025 in 2Q 2021). Revenue: RM27.8m (down 6.0% from 2Q 2021). Net income: RM2.16m (down 85% from 2Q 2021). Profit margin: 7.8% (down from 47% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 53% per year, which means it is significantly lagging earnings. Announcement • Jul 28
Furniweb Holdings Limited to Report First Half, 2022 Results on Aug 08, 2022 Furniweb Holdings Limited announced that they will report first half, 2022 results on Aug 08, 2022 Announcement • Jun 10
Furniweb Holdings Limited (SEHK:8480) entered into the sale and purchase agreement to acquire the remaining 62.8% stake in Energy Solution Global Limited from Dato’ Ng Yan Cheng for MYR 31.4 million. Furniweb Holdings Limited (SEHK:8480) entered into the sale and purchase agreement to acquire the remaining 62.8% stake in Energy Solution Global Limited from Dato’ Ng Yan Cheng for MYR 31.4 million on June 8, 2022. As per the terms, 6,275 ordinary shares will be acquired. 25% of the Consideration in the sum of MYR 7.9 million, shall be satisfied by the allotment and issuance of the consideration Shares of 41,565,600 upon Completion, 25% of the consideration of MYR 7.9 millions shall be paid by cash on the date falling six (6) months from the completion date and the remaining 50% of the Consideration in the sum of MYR 15.7 million shall be paid in cash if and only if Energy Solution achieves the guaranteed profit. The cash consideration will be funded by internal resources of the Group. As of December 31, 2021, Energy Solution Global reported revenue of MYR 39.1 million, profit after taxation of MYR 3.2 million and net assets of MYR 17.2 million. The transaction is subject to due diligence, approval of shareholder of Furniweb Holdings Limited, the GEM Listing Committee granting the listing of, and permission to, deal in the Consideration Shares and the Additional Consideration Shares and obtaining by PRG of the approvals from Bursa Securities and its shareholders. Lego Corporate Finance Limited and Octal Capital Limited acted as financial advisors for Furniweb Holdings Limited in the transaction. Reported Earnings • May 08
First quarter 2022 earnings released: EPS: RM0.005 (vs RM0.004 in 1Q 2021) First quarter 2022 results: EPS: RM0.005 (up from RM0.004 in 1Q 2021). Revenue: RM30.1m (down 39% from 1Q 2021). Net income: RM2.91m (up 36% from 1Q 2021). Profit margin: 9.7% (up from 4.3% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 58% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Chee Lee was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 31
Furniweb Holdings Limited, Annual General Meeting, Jun 30, 2022 Furniweb Holdings Limited, Annual General Meeting, Jun 30, 2022, at 02:00 Coordinated Universal Time. Location: To re-appoint ZHONGHUI ANDA CPA Limited as the Auditors for the year ending 31 43300 Seri Kembangan, Selangor, Malaysia Selengor Malaysia Agenda: To receive and approve the audited consolidated financial statements of the Company and its subsidiaries and the reports of the directors and the auditors of the Company for the year ended 31 December 2021; To re-appoint ZHONGHUI ANDA CPA Limited as the Auditors for the year ending 31 December 2022 and to authorise the Board to fix the remuneration of the Auditors. Announcement • Dec 15
Furniweb Holdings Limited (SEHK:8480) completed the acquisition of a 37.25% stake in Energy Solution Global Limited from Pua Lay Cheng and Lee Eng Lock. Furniweb Holdings Limited (SEHK:8480) entered into a sale and purchase agreement to acquire 37.25% stake in Energy Solution Global Limited from Pua Lay Cheng and Lee Eng Lock for HKD 9.6 million on November 1, 2021. Under the terms of the transaction, approximately 30% shall be satisfied by cash and approximately 70% shall be satisfied by the shares. Consideration will be funded by internal resources. The consideration shall be paid 14 days after the date of fulfilment of all the conditions precedent. As of November 17, 20201, terms of the transaction were revised, and 100% consideration will be paid in cash. Pursuant to the transaction, Lee Eng Lock will continue to hold 11.75% and DNYC will hold 51% in Energy Solution Global Limited. Energy Solution Global reported revenue of CNY 54.477 million (HKD 65.52657 million), net income of CNY 0.911 million (HKD 1.095778 million). The Board of Directors of Energy Solution Global shall consist of five Directors, two of whom shall be appointed by Furniweb Holdings, two of whom shall be appointed by DNYC and the remaining one of whom shall be appointed by Lee Eng Lock. Completion is subject to the satisfaction of due diligence investigation and approval governmental and/or regulatory authorities. The transaction is expected to be completed before December 31, 2021. The transaction, will not have any material effect on the earnings and EPS of PRG Holdings Berhad (parent of Furniweb) and its subsidiaries.
Furniweb Holdings Limited (SEHK:8480) completed the acquisition of a 37.25% stake in Energy Solution Global Limited from Pua Lay Cheng and Lee Eng Lock on December 13, 2021. The transaction has been completed following the fulfillment of the conditions precedent. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS RM0.002 (vs RM0.003 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: RM22.6m (down 15% from 3Q 2020). Net income: RM911.0k (down 49% from 3Q 2020). Profit margin: 4.0% (down from 6.7% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 47% per year, which means it has not declined as severely as earnings. Board Change • Nov 09
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Chee Lee was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Aug 09
Furniweb Holdings Limited to Close Retail Division Furniweb Holdings Limited had opened a retail store in Singapore and a 49%-owned store in Thailand in year 2019. The retail business was severely impacted by the COVID-19 since the beginning of year 2020 when the borders of countries were closed which led to a decrease in tourists arrival and resulted in deterioration of overall consumers' spending. The efforts of sales promotion, cost saving as well as rental concessions from landlords did not achieve the expected results. In view of the prolonged COVID-19 pandemic and closure of borders, the retail business had experienced unprecedented difficulties in their operations and is unlikely to have major recovery in the short run. Therefore, the Board has decided to close the retail stores. The Group has reached an agreement with landlord of the retail store in Singapore on early termination and to waive the contractual liabilities on remaining lease payments and reinstatement of store. Therefore, the corresponding lease liabilities and provision for restoration costs were reversed during the Period. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS RM0.025 (vs RM0.001 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: RM29.6m (up 56% from 2Q 2020). Net income: RM14.0m (up RM14.7m from 2Q 2020). Profit margin: 47% (up from net loss in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Jun 12
Executive Director recently bought HK$71k worth of stock On the 9th of June, Choon Lua bought around 260k shares on-market at roughly HK$0.27 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Executive Departure • May 13
Non Executive Director has left the company On the 7th of May, Guang Yang's tenure as Non Executive Director ended after 2.5 years in the role. We don't have any record of a personal shareholding under Guang's name. A total of 2 executives have left over the last 12 months. Reported Earnings • May 09
First quarter 2021 earnings released: EPS RM0.004 (vs RM0.005 in 1Q 2020) The company reported a mediocre first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: RM49.3m (up 94% from 1Q 2020). Net income: RM2.14m (down 20% from 1Q 2020). Profit margin: 4.3% (down from 11% in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Announcement • Mar 12
Furniweb Holdings Limited to Report Fiscal Year 2020 Results on Mar 23, 2021 Furniweb Holdings Limited announced that they will report fiscal year 2020 results on Mar 23, 2021 Announcement • Dec 29
Furniweb Holdings Limited Appoints Ng Tzee Penn as A Non-Executive Director The board of directors of Furniweb Holdings Limited announced the appointment of Mr. Ng Tzee Penn as a non-executive Director with effect from 28 December 2020. Mr. Ng has joined Tessa Therapeutics Ltd. since March 2016. He currently serves as a chief operating officer and an executive director of Tessa, overseeing the product sciences, manufacturing, supply chain, quality and technical operations. Is New 90 Day High Low • Dec 16
New 90-day low: HK$0.44 The company is down 14% from its price of HK$0.51 on 16 September 2020. The Hong Kong market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 27% over the same period. Announcement • Nov 07
Furniweb Holdings Limited Announces Management Changes Furniweb Holdings Limited has engaged Boardroom Corporate Services (HK) Limited ("Boardroom") to provide certain corporate secretarial services and Sir Kwok Siu Man KR ("Sir Seaman Kwok"), an executive director and the head of corporate secretarial department, has been nominated by Boardroom to assume the office of a joint company secretary of the Company (the "Joint Company Secretary") and the process agent for the acceptance of service of process and notices on behalf of the Company in Hong Kong under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (the "Process Agent"). The board of directors of the Company hereby announced that Sir Seaman Kwok has resigned as a Joint Company Secretary and the Process Agent with effect from 6 November 2020. Mr. Au Yeung Yiu Chung remains to serve as the other Joint Company Secretary. The Board announced that Ms. Cheng Lucy ("Ms. Cheng") has been appointed as a Joint Company Secretary and the Process Agent with effect from 6 November 2020. Ms. Cheng is a senior corporate secretarial manager of Boardroom. She is a Chartered Secretary, a Chartered Governance Professional and an associate member of both The Hong Kong Institute of Chartered Secretaries and The Chartered Governance Institute in the United Kingdom. Ms. Cheng has over 15 years of experience in the corporate secretarial field. Announcement • Oct 28
Furniweb Holdings Limited to Report Nine Months, 2020 Results on Nov 06, 2020 Furniweb Holdings Limited announced that they will report nine months, 2020 results on Nov 06, 2020 
