LY Corporation

LY Corp sinks to 1Q losses of $0.9 mil on one-off IPO expenses

SINGAPORE (May 11): LY Corporation, the Malaysian-based manufacturer and exporter of wooden bedroom furniture, has posted losses of 2.8 million ringgit ($0.9 million) for the 1Q ended March, compared to earnings of 10.4 million ringgit a year ago.

This was mainly due to one-off initial public offering (IPO) expenses of 6.8 million ringgit.

1Q18 revenue edged up by 1.8% to 85.1 million ringgit, from 83.6 million ringgit a year ago.

Flashback: LY Corp to be listed on Catalist; promises special dividend, China expansion

This article first appeared in Issue 815 (Jan 29) of The Edge Singapore

SINGAPORE (Jan 29): Tan Yong Chuan, CEO of Malaysia-based furniture maker LY Corp, says his company has deliberately chosen to focus on making bedroom furniture for more than three decades. “In every home, you have maybe one living room and one dining room, but you have at least two, if not more, bedrooms,” he tells The Edge Singapore in an interview. “And that’s where humans spend one-third of their lives.”

Promise of higher dividends mitigate currency risk for LY Corp, says NRA Capital

SINGAPORE (Jan 30): NRA Capital likes LY Corporation, the original design manufacturer of wooden bedroom furniture, for what it sees as a positive mix of growth and dividend plans to come.

While potential appreciation of the Malaysian Ringgit presents a key risk to the group’s profitability, NRA believes this will be mitigated by the promise of a higher 40% payout of PATMI for FY18-20, up 25% from 25% for FY17.

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