Highlights

THE INVESTMENT APPROACH OF CALVIN TAN

Author: calvintaneng   |   Latest post: Sun, 28 Nov 2021, 12:38 PM

 

moneySIFU: Hi Mr Calvin, look like you are almost in every palm oil plantation counters. If can only choose 3, which 3 you will put money at? 18/10/2

Author:   |    Publish date:


Dear friends of i3 Forum, 

While checking up on Tsh Resources I saw these questions by moneySIFU:

 

 

moneySIFU Hi Mr Calvin, look like you are almost in every palm oil plantation counters.

If can only choose 3, which 3 you will put money at?
18/10/2021 11:13 PM

 

 

moneySIFU Mind to share? Thanks Mr Calvin
18/10/2021 11:13 PM

 

An this was my response

 

 

calvintaneng moneySIFU Hi Mr Calvin, look like you are almost in every palm oil plantation counters.

If can only choose 3, which 3 you will put money at?
18/10/2021 11:13 PM

MoneySIFU,

This is a Million Dollar Question?

Wish I know which of these will be the Best

1) TSH RESOURCES

Three Companies in One

i) EKOWOOD is in TSH (At that time TSH was Rm1.94 when EKWOOD was taken Private
ii) TSH is Top 2nd Owner of InnoPrise Plant
iii) TSH has its own Plantation Assets in Palm Oil & Forest Concessions (Rm400 Millions in Biological Assets alone)


2) THPLANT

This small Cap has over 240,000 Acres of Plantation Lands book value only Rm4K to Rm10K

3) TAANN
Very Honest Company
Can sleep soundly every night as most people here are Honest, Upright Christians.
19/10/2021 8:04 PM

 

Ok now we shall explain more:

FIRST IS TSH RESOURCES

TSH HAS THREE TREASURES (Or 3 COMPANIES IN ONE

1) IT HAS TAKEN EKOWOOD PRIVATE

2) TSH IS TOP 2ND HOLDER OF INNOPRISE PLANT

3) TSH HAS ITS OWN BUSINESSES OF PALM OIL, TIMBER CONCESSSION, OWNS RM400 MILLIONS WORTH OF BIOLOGICAL ASSETS, COCOA, PALM OIL MILLING & REFINERY & BIOENERGY GENERATION PLUS LAND BANKING

 

1) TSH TOOK EKOWOOD PRIVATE At 40 SEN A SHARE

For this let us see the final remaining posts in Ekowood Forum

KLSE: EKOWOOD (5091)       EKOWOOD INTERNATIONAL BHD Main : Consumer
Last Price Today's Change   Day's Range   Trading Volume
0.00   0.00 (0.00%)  0.00 - 0.00

 

 

Sebastian Power what a shock privatization!!!

After keep this counter more than a year then 100% profits!!!!! Better than nothing (although I feel the offer price should be almost comparable with its NTA 60cents++)
30/11/2016 2:08 PM
Sebastian Power This counter business already back on track and will continue generate profits for coming QR. That's why TSH makan this golden eggs at 40cents (based on record, IPO is at RM1.05)
30/11/2016 2:12 PM
dompeilee dompeilee Bought 25,000 at 20.5c
22/03/2016 15:29

SOLD 13,000 @ 33.5c :D :D !!!
30/11/2016 3:01 PM
zhangliang Privatisation 40 sens, now only 33 sens can buy?
30/11/2016 3:04 PM
Ultrainvestor It's not confirmed yet right? Still require certain processes i.e. EGM, voting et cetera.
30/11/2016 3:17 PM
Sebastian Power this type of privatization offer price will only go higher. Ok if they rejected 40cents offer
30/11/2016 4:49 PM
dompeilee Sold balance 12,000 Ekowood @ 32c :D Bye bye Ekowood & thank you!
30/11/2016 4:57 PM
Matthieu Seven Sifu Sebastian you so power! As predicted, Ekowood start to generate profits. No wonder TSH so kan cheong announced the privatisation before QR released. The way you talk just like hold a lot. You got how many biji?
30/11/2016 6:07 PM
Sebastian Power what so difficult to predict, suddenly privatization after so many -ve QR.

Of course I hope higher offer price. How many biji? if 40cents offer price then just enough buy myvi only.
01/12/2016 8:39 AM
Choivo Capital I dont see how the acquisition wont go through, only question is, do you want TSH shares.
01/12/2016 9:46 AM
Choivo Capital This thing will go through, 100%. Ekowood office is within TSH office already. The directors every day say hello, no way it wont go through. Only question here is, what is the break even point.

At 0.33, TSH price must drop below the all time low to 1.59 before you even lose money. I think this is impossible. Its a plantation company, high debts, but 3 positive quarter in a row. Considering how high CPO prices is for sept to dec, im sure the 4th is a positive as well.

Im all in.
01/12/2016 10:22 AM
Choivo Capital bought 200k at 3.43, couldve sapu the 335 queue but i was being penny wise, pound foolish.
01/12/2016 12:54 PM
Choivo Capital Given
1.92/0.4*0.33=1.584
1.92/0.4*0.34=1.632
1.92/0.4*0.35=1.680
1.92/0.4*0.36=1.728
1.92/0.4*0.37=1.776
1.92/0.4*0.38=1.824.

I think the fv is 0.38
01/12/2016 2:27 PM
firehawk Jon, thks for yr calculation :-)
16/12/2016 10:34 AM
firehawk approachs to fv 0.38, @0.38 equivalent to TSH=1.82 ... now TSH is 1.92 ....
06/01/2017 10:47 AM
NAHNEW Do anyone knows that TSH pay ECOWOOD shareholder 0.40 per share or convert the share to TSH share of 0.4/1.96 ?
13/02/2017 10:53 AM
X
calvintaneng Hi guys

In year 2017 when Cpo was below Rm3500 per ton TSH Was Rm1.92

Now Cpo over Rm5000 Tsh only Rm1.20?

And Wood also Multi year high as well

TSH Now at Rm1.20 is an outright buy!

Just buy up TSH as much as you can afford and hold till it goes back to Rm1.92 & more

Regards

Calvin
14/10/2021 9:07 PM

 

From above we know Ekowood was taken private by TSH at 40 sen & at that time TSH was Rm1.96

Current price of TSH is only Rm1.18

So from Rm1.96 TSH is now cheaper by 40%

This is the Gross Mispricing of TSH by Mr. Market willing to pay Rm1.96 for TSH when Cpo was Rm3,500 & now not interested at Rm1.18 when Cpo over Rm5,000?

 

2) TSH is Top 2nd Holder of Innoprise Plant

 

1. Innoprise Corporation Sdn. Bhd. 240,469,407 

2. TSH Resources Berhad 105,060,592 

3. UOB Kay Hian Nominees (Asing) Sdn. Bhd.

Exempt AN for UOB Kay Hian Pte Ltd (A/C Clients) 28,827,050 

4. Embun Yakin Sdn. Bhd. 11,223,250 

5. Alliance Group Nominees (Tempatan) Sdn. Bhd.

Pledged Securities Account for Mutual Corridor Sdn. Bhd. (7005036) 10,104,000 

6. Tunas Lestari Sdn. Bhd. 10,000,000 

7. RHB Capital Nominees (Tempatan) Sdn. Bhd.

Pledged Securities Account for Fong Siling (CEB) 4,300,000 

8. RHB Capital Nominees (Tempatan) Sdn. Bhd.

Pledged Securities Account for Salbiah Binti Shuib (CEB) 4,150,000

 

 

Note: 

TSH is Top 2 holder with 105 Million shares of Innoplant

Fong siling or Cold Eye is in Top nember 7

 

3) TSH HAS LOTS OF ITS OWN CORE BUSINESSES

 

TSH RESOURCES: ONE COMPANY WITH 9 BUSINESSES; The Most Overlooked, Undemanding, Undervalue Palm Oil Stocks with Far Reaching Now & Future Potential

Author:    |    Publish date: 

 


 

Dear Investors 

TSH Resources is One Company with 9 Business:

See

1. Tsh palm oil business

2. Ekowood. Taken private. Now inside Tsh

3. Innoprise. Tsh is top 2nd Holder of Inno. Directors of Tsh sits on the board and manage Inno

4. Cocoa Manufacturing. This is even before palm oil business.

5. 200,000 acres forest concession with biological assets worth Rm400 millions

6. Biomass to produce clean green renewable energy

7. Paper Pulp from Palm oil trunk waste. Ecommerce needs paper packaging

8) Palm Oil Refinery for Downstream. Tsh got 50/50 Jv with Wilmar in Sabah. Wilmar markets its finished products to China, India & others

9) Land Banking. Tsh Kalimantan Lands are located near Balikpapan the upcoming New Capital of Indonesia. Even Walton Land Banking is in Top 30 holders of Tsh

All these 9 are great businesses
So when you buy Tsh

You get 9 for one

 

1) TSH HAS PALM OIL ESTATES IN SABAH, KALIMANTAN, SUMATRA

IT ALSO GOT 6 PALM OIL MILLS>

 

2. EKOWOOD. Taken private now inside TSH

Ekowood

EkowoodOur 67%-owned subsidiary, Ekowood International Berhad (Company No. 301735-D) is involved in the manufacturing, designing, promotion and marketing of engineered hardwood flooring (EHF) under the brand name Ekowood, a registered trademark in Malaysia and in many other countries.

The 2 million sq. ft. manufacturing plant is located in Gopeng, Perak and is capable of producing up to 27 million sq. ft. of EHF per annum. Each day, over 700 devoted employees deliver world class quality products to our global distribution network which has earned us strings of accolades and accreditations.

Ekowood is truly a home-grown global brand which is synonymous with quality, uniqueness, durability and care for the environment. For more information, click www.ekowood.com

ekowood

 

3. INNOPRISE. Tsh Directors also Directors of Innoprise as Tsh is Top 2nd holder of Innoprise

See

1. Innoprise Corporation Sdn. Bhd. 240,469,407 50.22%
2. TSH Resources Berhad 105,060,592........ 21.94%
3. UOB Kay Hian Nominees (Asing) Sdn. Bhd.
Exempt AN for UOB Kay Hian Pte Ltd (A/C Clients) 28,827,050 6.02
4. Embun Yakin Sdn. Bhd. 11,223,250 2.34
5. Alliance Group Nominees (Tempatan) Sdn. Bhd.
Pledged Securities Account for Mutual Corridor Sdn. Bhd. (7005036) 10,104,000 2.11
6. Tunas Lestari Sdn. Bhd. 10,000,000 2.09
7. RHB Capital Nominees (Tempatan) Sdn. Bhd.
Pledged Securities Account for Fong Siling (CEB) 4,300,000 0.90
 
From above we SEE Tsh is Top 2nd holder of INNO holding 21.94% Innoprise shares

 

4. COCOA.

Cocoa

The principal activity of CocoaHouse Sdn Bhd (Company no. 220221-A) is to manufacture and sell cocoa products.

Our products have gained international acceptance and are exported to the USA, Europe and Asia.

img_cocoa

 

5. FOREST CONCESSIONS (Over 300,000 Acres) with Rm400 MILLIONS BIOLOGICAL ASSETS NOW.

 

Sustainable Forestry

In 1997, we were awarded with a 100-year concession to carry out forest rehabilitation, environmental conservation and industrial tree planting on 123,385 ha of forestry land in Ulu Tungud, Sabah, also known as Forest Management Unit 4 (FMU 4). The Group is committed to safeguarding the environment as part of our way of doing business.

Policy

Natural Forest Management Plan

Activities at FMU

forestry

How many acres are 123,385 ha of forestry land ?

To get acres multiply by 2.471 

= 304,884 Acres

About 1.69 Times the Size of Singapore (180,000 acres) & that for 100 Years

 

6. Biomass to produce clean green renewable energy

Biomass & Biogas Power

 

Biomass Power

Apart from creating value for TSH and its shareholders, we are also contributing towards our environment. Our palm bio-integration approach taps the huge commercial potential of bio waste of the palm oil industry through a fully integrated complex in Kunak, Sabah, complete with biomass and biogas power plants as well as a pulp and paper plant.

img_synergistic2img_synergistic3

The integrated complex is powered by renewable green energy from a 14MW biomass cogeneration plant and is the first biomass power plant in the country that is connected to the grid. The biomass power plant has a renewable energy power purchase agreement (REPPA) with Sabah Electricity Sdn Bhd to supply up to 10MW of green electricity. The co-generation plant generates electricity and industrial steam from solid by-product of the mill.

Biogas Power

Biogas power is another eco-friendly project by TSH to tap sustainable energy from wastewater generated from the palm oil milling process or more commonly known as Palm Oil Mill Effluent (POME). The aerobic activated sludge process involved during the harvesting of energy from POME not only results in regulatory compliance but also more environmentally friendly POME discharge. Its key processes of methane gas recovery and utilization for electricity generation results in a reduction in the emission of greenhouse gases. Most notably, all five of TSH’s renewable energy projects are registered as Clean Development Mechanism projects under the United Nations Framework Convention for Climate Change (UNFCCC).

 

7. Paper Pulp from Palm oil trunk waste. Ecommerce needs paper packaging

Read again between the lines

the huge commercial potential of bio waste of the palm oil industry through a fully integrated complex in Kunak, Sabah, complete with biomass and biogas power plants as well as a pulp and paper plant.

Read one more time

a pulp and paper plant.

So for TSH like Tmakmur (taken private at Rm1.90) nothing goes to waste as we have an energetic, dynamic leadership.

 

9) LAND BANKING: LANDS OF TSH NEAR BALIKPAPAN ARE FUTURE GOLD MINES AS INDONESIA WILL BUILD ITS NEW CAPITAL THERE (Just like Sepang Land Prices Shot up when Sepang Airport & Putrajaya Govt & Cyberjaya shifted there

Our Plantation Locations

 

 

 

8. Palm Oil Refinery for Downstream. Tsh got 50/50 Jv with Wilmar in Sabah. Wilmar markets its finished products to China, India & others

 

Milling 

 

 

 

 

and Refinery

We have 3 mills in Sabah and 3 mills in Indonesia located in West Sumatra, Central Kalimantan and East Kalimantan with a combined processing capacity of approximately 2.0 mil tonnes of Fresh Fruit Bunches per annum. Our Sabah based palm oil mills are located along Tawau – Lahad Datu – Sandakan highway or Sabah Oil Palm Belt processing 1 million tonnes per annum to sustain our throughput demand. Our 4th palm oil mill is located in Padang, West Sumatra, Indonesia. Our fifth palm oil mill is located in Palangkaraya and has been in operation since May 2010. This mill is to cater for FFB crop from our plantation in Kalimantan Tengah. Finally, we have yet another 60 tonne palm oil mill in progress in East Kalimantan with an expected completion by mid 2012 to support the milling requirement of FFB production for that expansion.

We have also ventured further downstream to refining crude palm oil and kernel crushing through a 50-50 joint venture with Wilmar International Ltd., a revered player in global vegetable fat industry listed on Singapore Stock Exchange. Strategically located at Kunak Jaya, Sabah, the refinery and kernel crushing plant have through put capacities of 2,600 tonnes per day and 600 tonnes respectively.

milling

 

 

moneySIFU Hi Mr Calvin, look like you are almost in every palm oil plantation counters.

If can only choose 3, which 3 you will put money at?
18/10/2021 11:13 PM

 

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calvintaneng EKOWOOD INTERNATIONAL BHD

https://klse.i3investor.com/servlets/stk/5091.jsp
20/10/2021 12:41 AM
supersaiyan3 I would choose efficiency. HSPLANT, IOI and QL.

Average oil palm companies are just too naive.

HSPLANT has very high margin, I would think they have less problems with labour and expensive fertilizer.

IOI always most efficient, just that their performance depends on price of cooking oil more than CPO.

QL's estates in Kalimantan, I guess they have less problems with labour.
20/10/2021 12:55 AM
calvintaneng Hsplant ok

I sold and took profit in HS plant already

Ioi good

it is raising Rm2.4 Billions fresh Cash hoard most probably follow Klk

Klk took over Ijmplant to be major shareholders from Ijm corp at Rm3.10 when Ijmplant was Rm2.20

Ioi might do the same in acquisition

in time past these were taken private

Golden hope plant
Trade wind plant
Austral Enterprize
Tmakmur
Kulim
Kwantas

So this is best time for Ioi to buy a other palm oil co

as for Ql it is not pure palm oil. Better buy those with more direct exposure to palm oil
20/10/2021 1:04 AM
Bizfuneng Plantations not going any where soon due to ESG concerns.
20/10/2021 8:39 AM
calvintaneng No need go anywhere

Lots and lots of cash flow in the coffers of palm oil companies like never before

That is top reason why palm oil company bosses are buying up their own company shares with their own personal hard earned monies

Just two more week is Nov 2021 results reporting time

Can we expect

1. More higher dividends

2. Special dividends

3. Free bonus issues

4. Free warrants

5. Special takeover move by more palm oil companies following the steps of Klk taking over the shares of ijmplant from ijm corp?

6. Assets disposal with Huge Cash windfall for happy palm oil holders ?

7. Other happy surprises
20/10/2021 8:54 AM
stockraider Listen u should be bullish about plantation mah!

Now already Rm 5000 record high mah!

If u look at the CPO future, it will be above Rm 4000 until Sept 2022 loh!

That means very strong mah! Super Profit coming loh!

Anything above Rm 2500 plantation already make good reasonable profit mah!

Very strong buy loh!
20/10/2021 11:44 AM
calvintaneng Excellent then Exceptional

going from strength to strength

Nov 2021 results will report July , Aug and Sept 2021 Cpo average pricing of Rm4,417 per ton

From now till Dec 2021 results will be out by Feb 2022

Since Cpo now over Rm5000 at world record

Profits will explode up
20/10/2021 1:21 PM
SALAM MKH,though not pure OP has sizeable area of prime op in E Kalimantan with high margin....Potential ???
20/10/2021 4:27 PM
calvintaneng Mkh I took profit already

it is both palm oil and Kajang property

I will give it 60 marks
20/10/2021 6:26 PM
moneySIFU Thanks so much for sharing, Mr Calvin, it is truly informative & save my time
20/10/2021 8:55 PM
calvintaneng You are welcome moneySIFU

Watch Fcpo prices as it will be the thermometer of the palm oil bull market

Cpo above Rm3,000 is already good

Cpo from Rm3500 to Rm4000 is excellent

Cpo Rm4,000 to Rm5,000 is fantastic

Above Rm5000 if can sustain means a world record palm oil bull run time

So don't bother what Naysayers say

Just watch carefully how Cpo prices perform
20/10/2021 9:10 PM
calvintaneng As long as Cpo above Rm2800 per ton palm oil companies are healthy and can hold

Now it is in very bullish zone
20/10/2021 9:12 PM
moneySIFU For those who familiar with palm oil industries, they will tell you that price is almost everything

Secondly is yield per hectare/acre. This represents how efficient & effective on the management ability to get the best out of the land & manage its people/workers.

Finally, the ages of trees & land sizes

Not so particular on fertilizers & other costs, as these are pretty fixed & standard

Technically, this industry is extremely transparent, nothing special.
21/10/2021 8:07 PM
calvintaneng Exactly

Palm oil is the most visible products grown and transported

It's age profile and monthly yield

Also the daily prices quoted

Only thing we need to call Managements is about their forward sale, the availability of enough workers

Above all the integrity and vision of each company

As a whole it is very very basic and simple

1. Every oil palm is subjected to rain, sunshine and weather

if one is good all should be good
Conversely, if one face difficulty the rest will face the same

2. Prices of Ffb. They fall in bad times and rises up in good time. So it is a uniform industry where every one enjoy same boom bust cycles

3. Only thing now is the integrity and honesty of each Leadership

Those that are hardworking and honest will excel and do better
21/10/2021 8:20 PM


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