 | Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Jan 18, 2021 5:26 PM | Report Abuse a) Financial assets
Trade and other receivables 39,269,000
Cash and bank balances 40,264,000
total = 79,533,000
b) Financial liabilities
Loans and borrowings 751,211,000
Trade and other payables 181,896,000
total = 933,107,000
I 'm not 100% sure, just trying to elaborate why such huge gap in trade:
from their segment reporting, it shows that there's a huge inter-segment revenue
eg. from Oil Palm > Oil Mill , Logs > Manufacturing
The balance sheet shows company receivables is actually much higher compare to group.
So it could be the company is actually taking longer period to pay it's subsidiaries, compare to receive payment from customers.
Hopefully someone with accounting knowledge can elaborate further on this. when the companies do pay its subsidiaries, how will this be recorded in cash flow and income statement?
As for the huge debt low cash, the gap is actually shrinking y-o-y, 2016 they have 59cash vs 1b debt. which means they are capable of payig off the debt from generated free cash flow. |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Jan 18, 2021 2:33 PM | Report Abuse Jtiasa Cash Flow Statement from FY12 > 20
Operating: 204 199 187 102 160 162 157 67.2 184.6
Investing: (255.4) (413.4) (188.4) (165) (217) (127) (66) (46.0) (19.9)
Finance: 34.8 233.9 (70.1) 24 80 (30) (99) (71.1) (143.3)
FreeCashFlow: 204 199 187 102 160 162 157 67 185
It shows the company is actually generating very healthy free cash flow every year. The losses are due to depreciation and non cash item.
The good thing is you will notice its already over the phase of heavy capex, and they have strong cash to pay down their debt.
With 975mm shares issued, the Return of Free Cash Flow per share is 18% for FY20 based on share price of RM1
If benchmark against FY14 which generate similiar free cash flow, the share price on FY14 is around RM2 range. Total debt in FY14 is slightly higher than FY20 though.
One more point i found amazing is the company working capital is mostly in negative territory, it means they are able to generate free cash flow using other peoples money.
While the share price performance looks crappish, the numbers looks amazing .... but never see the company aggresive do share buys back ....hmmmm
Anyone sees a different picture? maybe I miss something... |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Jan 18, 2021 10:13 AM | Report Abuse Correction on my previous calculation. should have taken the CPO production instead of FFB.
Anyway, coming qtr result should be better according to previous quarter data and result
20'Jun Qtr : CPO 39,618MT & PK 7,587MT - CPO avg $2245 - EBIT 53mm
20'Sep Qtr : CPO 58,808MT & PK 13,903MT - CPO avg $2692 - EBIT 96mm
20'Dec Qtr : CPO 37,546MT & PK 7,900MT - CPO avg $3286 - EBIT ???
if the cost of production is $1800-2000, benchmark against Jun qtr, the production MT is around the same, but the avg price difference is $1000. so EBIT should be above 2x - 4x of Jun Qtr. |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Jan 15, 2021 3:01 PM | Report Abuse Assume palm oil cost is 2000. from figure share by Sam.
Jul-Sep revenue should be around 900mm, profit should be should be240mm, but last qtr report only shows palm oil division revenue ony 310mm, result of 90mm if add back the depreciation, while company operating cash flow is merely 75mm.
Do anyone know if they hold inventory or sell on that same month of production?
if jtiasa do hold inventory and unload them in Sep-Dec qtr, then the coming qtr result will be crazy high. |
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| Stock: [PECCA]: PECCA GROUP BHD Dec 31, 2020 9:09 AM | Report Abuse congrats, further automotive tax exemption. |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Dec 23, 2020 10:04 PM | Report Abuse when will their log and wood business turns black? |
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| Stock: [AAX]: AIRASIA X BHD Dec 21, 2020 9:37 AM | Report Abuse vaccine arrival here doesn't means vaccine arrives in all other countries.
How many % of people will go to take the non-mandatory jab with such short clinical trial?
How many % of passengers are willing to fork out the money to pay for quarantines for travelling?
How many quarters AAX would able to survives before full vaccine roll out? |
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| Stock: [AAX]: AIRASIA X BHD Dec 20, 2020 5:48 PM | Report Abuse View A: suppliers/creditors wont let AAX get bankrupt, as many of them would eventually get bankrupt if AAX get bankrupt.
View B: foreign capital will come to deal with creditors to onslaught AAX, and eventually take over AAX at a bargain. Who wouldn’t have appetite for those developed routes.
What do you think? |
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| Stock: [BOILERM]: BOILERMECH HOLDINGS BHD Dec 18, 2020 9:21 PM | Report Abuse why would they want to offer this when they can buy quitely on market? my guess is they just want to pull a break on the running share price. but after this, the price can continue its momentum. |
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| Stock: [PECCA]: PECCA GROUP BHD Dec 18, 2020 9:11 PM | Report Abuse shit, i forgot its 18th!!! anyone attended? |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Dec 17, 2020 9:27 AM | Report Abuse 船运调查机构SGS周二公布的数据显示，马来西亚12月1-15日棕榈油出口量为725380吨，较11月1-15日出口的662376吨增加9.5%。
据Amspec，马来西亚12月1-15日棕榈油出口量为732,780吨，环比上升8.72%。ITS给出的前15日的出口数据同样显示出了上涨的态势。马来棕榈油出口的好转以及印尼增加出口税，对马来出口有所利好的消息，继续支撑马来棕榈油的走势，对国内棕榈油形成支撑。国内方面双节包装油备货旺季已启动，豆油商业库存连续下降，且菜油库存仍保持低位，油脂下方支撑良好，市场对后市仍抱有期待，但鉴于近阶段期货波动剧烈，继续以震荡市对待。目前棕榈油移仓换月，主力切换至2105合约，关注下方6400元/吨的支撑以及上方6800元/吨的压力情况 |
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| Stock: [CAB]: CAB CAKARAN CORP BHD Dec 10, 2020 4:38 PM | Report Abuse the stock is working towards golden cross....watch out if it spikes above rm0.50. |
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| Stock: [SKPRES]: SKP RESOURCES BHD Dec 3, 2020 3:49 PM | Report Abuse https://www.malaymail.com/news/money/2020/11/27/dyson-to-invest-us3.7b-to-double-product-range-by-2025/1926534
invest £2.75 billion in R&D, would translate to at least £275b in product retail i assumed. |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Dec 1, 2020 4:19 PM | Report Abuse will it ever hit rm2 ? last time the oil price hovering at all time high. |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Dec 1, 2020 9:35 AM | Report Abuse i read on china commodity trading site that india lower palm oil import tax. even at such high price, they lower the tax? what does that means? they are desperate to stock!
demand up supply down, price will fly! |
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| Stock: [SKPRES]: SKP RESOURCES BHD Dec 1, 2020 6:54 AM | Report Abuse If you want momentum you keep buying. Kekeke |
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| Stock: [HEVEA]: HEVEABOARD BHD Nov 30, 2020 2:26 PM | Report Abuse external board sales is down due to higher internal sales to RTA division. and RTA division has higher margin than board.
thats great!
Most interesting is the mushroom, Last year qtr loss is -1.12mm, this qtr only -270k. the trend looks like will turn +ve in coming two qtr. |
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| Stock: [PECCA]: PECCA GROUP BHD Nov 30, 2020 2:20 PM | Report Abuse if their production line is running at 100%, its considered good qtr, else its not a good qtr. As I expect previous qtr backlog will fall into this qtr, but the malaysia revenue on leather seats only ~5% y-o-y qtr.
havent study its cash flow statement detail yet, anyone dig into it? just saw trade receivables have a sudden spike, |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Nov 26, 2020 7:06 PM | Report Abuse Group’s Prospects
We expect the oil palm division to perform well in view of the current uptrend in CPO prices due to low inventory level and higher demand from major consuming countries such as China and India in replenishing their dwindling stock.
For timber segment, the average prices for timber products remain stable due to global supplies constraint and we foresee gradual improvement in this division as economic activities start to normalise. |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Nov 26, 2020 6:19 PM | Report Abuse Lower revenue but stronger profit and cash flow.
Debt down cash up.
If next qtr timber turns black then will really fly loh. |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Nov 24, 2020 8:43 PM | Report Abuse comparing previous qtr > current qtr
RSAWIT revenue : 82mm > 111mm ; operating cashflow -15mm > 10mm
SWKPLANT revenue : 97 mm > 137mm ; OCF 28mm > 37mm
BPLANT revenue : 167 mm > 205mm ; OCF 58mm > 119mm
MHC revenue : 86mm > 95mm ; OCF 12.5MM > 18.4mm
everything looks promising,
Jtiasa previous qtr OCF is 30mm, last year qtr is 70mm, lets pray coming qtr hit 100mm. |
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| Stock: [BOILERM]: BOILERMECH HOLDINGS BHD Nov 24, 2020 8:06 PM | Report Abuse Great, revenue back to normal, and operating margin improves. slow and steady counter, requires lots of patience |
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| Stock: [TOPGLOV]: TOP GLOVE CORP BHD Nov 24, 2020 9:13 AM | Report Abuse stay put first, expect top glove cluster will grow continuously for 3-4 days. |
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| Stock: [PECCA]: PECCA GROUP BHD Nov 21, 2020 7:23 PM | Report Abuse if you get TP1.75 based on own calculation, then its okay., I have bad experience with HLE TP. |
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| Stock: [SKPRES]: SKP RESOURCES BHD Nov 20, 2020 9:26 AM | Report Abuse TP 2.80 for 2021
* assuming current revenue is maintained and new contract negotiation with Dyson should be on the desk.
* operation margin maintained
* production capacity increased |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Nov 19, 2020 8:41 PM | Report Abuse thank god export of timber down in 1st 3 months, coz they can keep the inventory and unload now at a much much higher price. |
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| Stock: [SKPRES]: SKP RESOURCES BHD Nov 19, 2020 8:38 PM | Report Abuse is the record qtr revenue due to flowover from backlog of previous qtr delay in fulfilment due to MCO?
if not. SKP can fly leh |
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| Stock: [PECCA]: PECCA GROUP BHD Nov 19, 2020 8:10 PM | Report Abuse am surprise they only make announcement today, and allows insider to trade it down. |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Nov 17, 2020 10:13 AM | Report Abuse Anyone knows about that association between Rimbunan and Jtiasa? |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Nov 17, 2020 10:11 AM | Report Abuse ///Driver///
Soy production affected in Argentina, Brazil
Vaccine news > activity back to normal > meat, oil consumption increase
Europe come out of lockdown > biodiesel need goes up
CPO going into low output season
Indonesia President announce vaccine deploy before year end, boost local consumption
As today, CPO in Dalian exchange break 6800 (2012Q4 level)
///Pull back///
Vaccine failed to be deploy, goes into major lock down |
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| Stock: [PECCA]: PECCA GROUP BHD Nov 17, 2020 10:04 AM | Report Abuse why? i bet door gift will be face mask and PPE set. lol |
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| Stock: [PECCA]: PECCA GROUP BHD Nov 13, 2020 12:06 PM | Report Abuse of course, in agm you can ask director lots of stuff that wont get publish if analyst dont cover it. |
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| Stock: [PECCA]: PECCA GROUP BHD Nov 13, 2020 10:33 AM | Report Abuse congrats to those who hold on. anyone attending their upcoming agm? |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Nov 11, 2020 9:25 AM | Report Abuse if vaccine deployed, its super good news, consumer activities going to pick up. |
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| Stock: [SOLUTN]: SOLUTION ENGINEERING HOLDINGS BHD Nov 11, 2020 9:17 AM | Report Abuse if solution offers free jab of the vaccine for all shareholders, would you take it? |
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| Stock: [PECCA]: PECCA GROUP BHD Nov 9, 2020 3:18 PM | Report Abuse waiting for Biden to announce mandatory face mask usage. |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Nov 6, 2020 3:15 PM | Report Abuse Mikecyc , Just look at their cash flow statement of FY2020
Operating Cash Flow after paying interest:181mm
capex: -13mm
Financing: -143mm
Nett: still got 25mm (thought 2019 is a bad year)
I think most plantation company are in huge debt as its a milk cow for 15-18 years. Their cash flow will be able to cover in long term. If Jtiasa is net cash company, the share price would be multiple now.... |
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| Stock: [PECCA]: PECCA GROUP BHD Nov 5, 2020 2:36 PM | Report Abuse good to hear they already establish distribution channel. |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Nov 3, 2020 11:28 AM | Report Abuse If FY21 Q1 is short of 99,592 tons Fruit Bunches compared to FY20 Q1 , ( 23.4 % ).
But FY21 Q1 CPO average price is RM 2753 ...FY20 Q1 is RM 2014 .. Difference of 26.8 %
If we take CPO cost price is around 1800,
2014-1800 = 214 ; 2753-1800 =953
the generated profit from the sector could be 4x of FY20Q1 even the harvest drops 23%. |
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| Stock: [PECCA]: PECCA GROUP BHD Nov 2, 2020 9:58 AM | Report Abuse good news, EU ce also obtained.
https://klse.i3investor.com/servlets/ptres/57354.jsp |
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| Stock: [PECCA]: PECCA GROUP BHD Oct 30, 2020 12:09 PM | Report Abuse I think supermax price has already factors in orderbook ahead. but pecca, no one knows what's their orderbook on PPE for now. |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Oct 28, 2020 4:39 PM | Report Abuse The average price of CPO for past 2020Q2,Q3 is higher than second half of 2019. |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Oct 28, 2020 4:38 PM | Report Abuse mikecyc are you sure its output per acre for MHC? are they not buying from other estates? |
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| Stock: [BOILERM]: BOILERMECH HOLDINGS BHD Oct 28, 2020 9:29 AM | Report Abuse https://klse.i3investor.com/servlets/ptres/50078.jsp
From this write up, indonesia plant should be ready working
http://boilermech.com/oil-recovery-technology.html
And this technology seems promising, just not sure if its propiertary technology or competitive. |
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| Stock: [BOILERM]: BOILERMECH HOLDINGS BHD Oct 27, 2020 4:31 PM | Report Abuse Correct me if I'm wrong, i remember the board says in 2021 indonesia revenue contribution will be meaningful. Is this what trigger the run? I didnt attend their recent agm.... |
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| Stock: [PECCA]: PECCA GROUP BHD Oct 23, 2020 11:22 AM | Report Abuse what kind of good news soon? |
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| Stock: [PECCA]: PECCA GROUP BHD Oct 14, 2020 3:19 PM | Report Abuse Just receive Rentas Health mask from online order, will test it later and see what's the difference between this and those rm7-15 per box mask from China. |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Oct 14, 2020 9:25 AM | Report Abuse how's the yield and plant maturity of SOP, TAANN, SWKPLT compare to JTIASA, RSAWIT |
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| Stock: [PECCA]: PECCA GROUP BHD Oct 13, 2020 10:47 AM | Report Abuse if you have confident, when it plummet, just buy more. The plummeting volume is very low. if you need confident, drive to their kepong factory and count how many truck load go in and out.
Maybe they are waiting for the N95 approval to announce together. |
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| Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD Oct 12, 2020 11:23 AM | Report Abuse are you able to hang on for it to hit rm2.... thats a big test towards patience..... |
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