Last Price Today's Change   Day's Range   Trading Volume
0.76   -0.01 (1.30%)  0.75 - 0.77  16,200
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Market Cap: 128 Million
NOSH: 168 Million
Avg Volume (4 weeks):201,742
4 Weeks Range:0.75 - 0.89
4 Weeks Price Volatility (%):
52 Weeks Range:0.60 - 0.89
52 Weeks Price Volatility (%):
Average Price Target: 0.94
Price Target Upside/Downside: +0.18

Financial Highlight

Latest Quarter | Ann. Date 31-Dec-2022 [#4]  |  21-Feb-2023
Next QR | Est. Ann. Date: 31-Mar-2023  |  23-May-2023
T4Q P/E | EY: 9.79  |  10.22%
T4Q DY | Payout %: 4.43%  |  43.36%
T4Q NAPS | P/NAPS: 0.4232  |  1.80
T4Q NP Margin | ROE: 10.07%  |  18.35%


Date Subject
22-Mar-2023 烤问LSK/海外市场需求疲软 天然乳胶床垫是否还有竞争能力?
12-Mar-2023 Lee Swee Kiat Group | 非常 “低调” 的家具股
10-Mar-2023 MQ Market Updates - 10 March 2023
08-Mar-2023 Lee Swee Kiat Group - Better FY23F ahead
22-Feb-2023 Lee Swee Kiat Group - Robust Sales from Domestic Division
22-Feb-2023 Daily Market Report - 22 February 2023
22-Feb-2023 Lee Swee Kiat Group - Robust Sales from Domestic Division
22-Feb-2023 Lee Swee Kiat Group - Record revenue and profit in FY22
16-Feb-2023 Lee Swee Kiat Group - Manageable impact from recent spike in latex prices
22-Dec-2022 【行家论股】李水吉集团 打算提高派息
22-Dec-2022 Lee Swee Kiat Group Bhd - Stronger Outlook in 2023
22-Nov-2022 Lee Swee Kiat Group - Strong Sales from Domestic Division
22-Nov-2022 Lee Swee Kiat Group - Expect stronger profit margin ahead
22-Nov-2022 Lee Swee Kiat Group - Strong Sales from Domestic Division
31-Oct-2022 MQ Market Updates - 31 October 2022
31-Oct-2022 Lee Swee Kiat Group - Supported by domestic sales
15-Sep-2022 Lee Swee Kiat Group - Largest domestic natural latex bedding manufacturer
09-Sep-2022 My Portfolio Aug22 - Bursa Dummy
23-Aug-2022 Lee Swee Kiat Group - Domestic Sales Division to Remain Strong
23-Aug-2022 Lee Swee Kiat Group - Domestic Sales Division to Remain Strong

Business Background

Lee Swee Kiat Group Bhd operates in the Mattresses and bedsprings sector in Malaysia. The company is engaged in the manufacturing, trading, and distribution of mattresses, bedding accessories, laminated foam, polyurethane foam, natural latex foam and other related products. LSK operates a retail chain store under Brand IBG that promotes Ergonomic beddings and furniture. It also engages in investment holding activity.
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  7 people like this.
limsingpoh9497 Tp for tomorrow : RM.1.16
14/12/2020 10:30 PM
StockHunters Target at least RM 1.20 in 1 week.
By next QR target RM 1.90
14/12/2020 11:26 PM
thesteward Tomolo I might tp some swap (fm 50 sen ) n add tambun n lionposim . Comgrars and all the best !
15/12/2020 5:04 AM
StockHunters Tomorrow gap up and close high green.
15/12/2020 6:54 PM
StockHunters TP by end of dec this year - RM 1.5 above.
15/12/2020 6:55 PM
thundery If bank told you target is 1.9 means actual target is half of that, means need to sell now.
17/12/2020 9:41 AM
StockHunters lame statement by thundery. no such thing.

So CIMB target 1.6, now already 95 sen, double wor?
17/12/2020 7:34 PM
StockHunters TP RM 1.5 in 2 weeks. simple.
17/12/2020 7:35 PM
limsingpoh9497 TP for tomorrow:RM1.10
17/12/2020 10:09 PM
Author: Chongkh888
Publish date: Thu, 17 Dec 2020, 10:35 PM

Lee Swee Kiat is one of the top 3 small cap picks with the highest upside (+106%), according to CGS-CIMB Research
latest strategy report.


LSK is Malaysia’s largest manufacturer of natural bedding products, with annual production capacity of 6,000 tonnes.

LSK should record stronger quarters ahead, driven by higher semi-foam demand from export markets and maiden contribution from JV with Cuckoo.

LSK is targeting at least RM100m (LSK’s portion) from the JV in the next 3 years. Do note LSK existing business recorded RM100m sales
last year.

Reiterate ADD with TP of RM1.60 (12.9x CY22F P/E, a 30% discount to our consumer discretionary sector CY22F target P/E of 18.4x

- CGS-CIMB Research
18/12/2020 4:26 AM
5877max Post removed. Why?
20/12/2020 12:27 AM
thesteward Such nice FA hope can at least perform like cymao
13/01/2021 4:13 PM
investingnewbie There's some nice activity today, will it continue to increase?
02/02/2021 12:43 PM
investingnewbie I'm on the boat :(
08/02/2021 8:54 PM
investingnewbie I'm stuck at 0.92 hahaha
11/02/2021 9:58 AM
22/02/2021 12:08 PM
22/02/2021 3:21 PM
Silentreader88 almost LU 1.28
watch out other furniture homeritz
22/02/2021 3:46 PM
Battleman Highest RM 1. 27, now rewind
24/02/2021 6:18 PM
mooninvestor168 correction before the next push, wait US market recover more :) collected more today.
01/03/2021 1:44 PM
Begineer any news on the cuckoo mattress collaboration? when will they launch the product?
12/03/2021 5:10 PM
Superb99 this counter like very slow, too little volume
21/04/2021 9:37 AM
Superb99 0.975...gg.com
21/04/2021 2:22 PM
Superb99 snail counter, same like SAPIND...little volume every day
22/04/2021 3:20 PM
Rwkl From the cover of the AR, is the subject on the mattress comes along with the lease?
25/04/2021 12:03 AM
Superb99 Can tabao liao
26/04/2021 6:05 PM
Superb99 Lesson learned, stay away from low volume counter like this leesk...pui
27/04/2021 9:26 AM
ANYU 该让时间告诉我们。
09/05/2021 9:42 AM
Superb99 1 day only 100 over lots are traded and price is so flat
18/05/2021 2:52 PM
Shadow Fiend AGM highlights:
1) domestic sales are very encouraging but cannot confirm the effect of MCO 3.0 which may affect it temporarily,
2) export sales are also good but due to rising of ocean freight cost, some customers may delay the import for awhile,
3) sales derived from Cuckoo just started at end of March 2021 and target sale is 10k-14k mattresses in 2021,
4) even with rising of raw material costs, leesk able to pass it to customers,
5) acquired automation machines in 2020 which can increase capacity but pending foreign technician to fly over for commissioning,
6) bought 8 units of dormitories for foreign workers to comply ESG,
7) production is running at full capacity but MCO 3.0 limited 60% of workers may affect it in short term.
24/05/2021 10:56 AM
Superb99 Up a bit then go again
25/05/2021 11:30 AM
Superb99 thus rubbish counter can tabao liao, positive result but longkang price
25/05/2021 5:39 PM
Superb99 686 lots and price below 90 cents again...this BOD is sleeping
27/05/2021 2:54 PM
Superb99 This lc counter sure gap down again next week
29/05/2021 8:35 PM
Begineer will it continue to drop?
03/06/2021 4:49 PM
Superb99 Most likely yes, keep breaking support and so far no sigh of rebound...this counter is very quiet, not many people playing
04/06/2021 9:40 PM
Superb99 this is really a LC company
08/06/2021 5:12 PM
Begineer wao... will drop till???
16/06/2021 4:54 PM
Superb99 i cut half d, so far the price is still not supported plus poor market sentiment...most likely it will drop further....just my personal view
16/06/2021 5:23 PM
KL_82 Time to top up :)
03/07/2021 10:49 AM
risktoreward enter @ 0.94
15/09/2021 9:03 AM
risktoreward add @ 0.92
15/09/2021 9:33 PM
thesteward Leesk Cimb high target
13/01/2022 4:17 PM
thesteward If can close at 84/85 then looks bullish
13/01/2022 4:18 PM
rikki On track for record earnings in 2022F - Target Price RM1.84

■ We view LSK as a proxy to the recovery in consumer spending, backed by: i)
higher mattress sales, ii) price hikes, and iii) higher economies of scale.
■ We expect LSK’s collaboration with Cuckoo Malaysia to propel its profitability
to new heights going forward, with more marketing activities expected.
■ LSK’s valuation is undemanding at 5.5x CY23 P/E, an 81.6% discount to our
discretionary consumer sector’s mean CY23 P/E. Reiterate Add.

Witnessing a rebound in local sales since 4Q21

Since the gradual lifting of lockdown measures starting Oct 21, LSK has been witnessing
a strong rebound in sales in the local market. This is in tandem with the reopening of its
retail outlets, as well as more large-scale furniture fairs and exhibitions being held. On top
of that, we gather that LSK has seen a surge in mattress sales in areas affected by the
recent floods. Supported by the price increases effective 1H21, we expect the higher sales
to translate into margin expansion for the company from 4Q21 onwards.

Sales of A-series mattress in 2021 affected by lockdowns

While LSK aimed to sell 12,000 A-series mattresses (sold under LSK‘s collaboration with
Cuckoo) in 2021F, sales likely fell short (estimated to reach only 7,000, which is in line with
our estimates) due to the impact of various lockdowns throughout 2021. Nevertheless, we
take comfort that sales in May 21 (prior to the implementation of a full movement control
order [FMCO] in Jun-Sep 2021) was an encouraging 1.5k units.

Still optimistic on prospects of collaboration with Cuckoo

We remain optimistic about LSK’s collaboration with Cuckoo International. With the lifting
of lockdown measures and supported by better consumer sentiment and more marketing
activities, LSK is confident of achieving sales of 20,000 units (+185% yoy) in FY22F. In our
view, the rental model (with low initial purchase cost) offered by Cuckoo-LSK when
purchasing A-series mattresses could also be an attractive proposition to buyers amid the
current subdued consumer sentiment. Note that LSK expects contributions from its
collaboration with Cuckoo to contribute at least 20% of its turnover from FY22F onwards.

Net cash position will support attractive dividend yields in FY23-24F

As at end-3Q21, LSK has a net cash position of RM5.6m. With no major capex planned in
FY22-23F (flat at RM3.5m for FY21-23F), we expect its robust balance sheet to support its
dividend payouts (45% for FY21-23F). With an expected rebound in earnings, mainly in
FY22-23F, this could translate into solid dividend yields of 2.9-8.3% for FY21-23F.

Reiterate our Add call

We make no changes to our FY22-24F EPS forecasts. We also keep our Add call and TP
of RM1.84, based on 13x CY23 P/E, in line with its 5-year mean. We continue to like LSK
for its: i) defensive business (resilient demand for beds); ii) attractive valuation (5.5x CY23F
P/E); and iii) strong fundamentals (high ROE and net cash position). Re-rating catalyst: a
spike in sales volume and higher-than-expected sales from its collaboration with Cuckoo.

CGSCIMB Research January 12, 2022
17/02/2022 11:15 AM
hom3boy Anyone comment ..
07/04/2022 4:09 PM
Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ P/E Ratio (TTM)
Market Cap
RM129.40 M
Shares Outstanding
Public Float
155.91 M

Revenues and profits have been up and down during the last 5 years. Given this lack-lustre consistent growth, it is not a company that for holding for the long term.

The share price has traded over a range and this might be of interest for short term players.
07/04/2022 4:42 PM
investortrader88 My average price RM0.74.will continue to hold.good luck guys.
24/05/2022 9:44 AM
investortrader88 https://www.theedgemarkets.com/node/656186
22/02/2023 7:55 AM
Battleman Come back after a year, seems some improvement in company performance
24/03/2023 11:22 PM

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