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227 comment(s). Last comment by sheldon at May 27, 2020 10:02 AM
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sheldon
936 posts

Posted by sheldon > Feb 4, 2018 10:59 PM | Report Abuse

I think the underlying motive is partly money. One research said that they should ban butter because the cows that produce the milk which is churned into butter, collectively has a fart that causes massive increases in greenhouse gases.

Would they take such a drastic step to stop consumption and put a lot of farmers into the poor house? No way!!!


sheldon
936 posts

Posted by sheldon > Feb 7, 2018 5:15 PM | Report Abuse

Anyone going to the AGM?


mf
17396 posts

Posted by mf > Feb 8, 2018 11:16 PM | Report Abuse

No


sheldon
936 posts

Posted by sheldon > Feb 19, 2018 10:52 PM | Report Abuse

I attended the AGM and came out feeling good about the co. According to the chairman, the Europe ban on palm oil in 2021 is only for the diesel content. They would require all members to vote (uncertain as to whether a unanimous or majority consent required).

Any way there's a lot of vested interest at individual country level including Malaysia buying their goods and countries involved in the production of palm diesel. The following report explains the dynamics and reveal some relevant data. Read em..

https://www.transportenvironment.org/sites/te/files/publications/2016_11_Briefing_Palm_oil_use_continues_to_grow.pdf


enigmatic ¯\_(ツ)_/¯
762 posts

Posted by enigmatic ¯\_(ツ)_/¯ > Jul 24, 2018 12:59 AM | Report Abuse

why isn't anyone interested in this stock? price is at its lowest this year. it has been consistently paying dividends too, in fact sometimes more than KLK.


sheldon
936 posts

Posted by sheldon > Aug 15, 2018 3:44 PM | Report Abuse

KLK is trading at 24++.
Batu Kawan, trading at 17++, enjoyed current quarter profits, YTD profits, PE and dividend yield far better than KLK.


sheldon
936 posts

Posted by sheldon > Oct 23, 2018 2:50 PM | Report Abuse

Good to see a lot of share buybacks


sheldon
936 posts

Posted by sheldon > Nov 16, 2018 10:21 AM | Report Abuse

How come no dividend announcement?


sheldon
936 posts

Posted by sheldon > Nov 16, 2018 10:38 AM | Report Abuse

ok - just checked with the Co - dividend announcement in Dec due to changes in cos act


sheldon
936 posts

Posted by sheldon > Nov 16, 2018 11:21 AM | Report Abuse

Looks like shareholders of B Kawan are the strong & silent type. I seem to be the only one raising issues here. I feel like I'm talking to a wall. haha


David
108 posts

Posted by David > Nov 16, 2018 1:02 PM | Report Abuse

*sheldon*, Thanks for checking the dividends with the company. KLK too did not announce the dividends yet.


Cipta
286 posts

Posted by Cipta > Nov 16, 2018 6:25 PM | Report Abuse

treasury share close to 10%, perhaps BOD can consider distribute it as dividen?


sheldon
936 posts

Posted by sheldon > Nov 17, 2018 3:02 PM | Report Abuse

Welcome dnlt.

Cipta - I prefer that the Co cancels the treasury share & go for a capital reduction. Less shares, the better the ROE & EPS.


Cipta
286 posts

Posted by Cipta > Nov 17, 2018 9:26 PM | Report Abuse

canceling treasury share may not push up the share price since liquidity becomes lower.
Cancelling treasury share won't create cash to co and shareholders. But distribute it to shareholders will create cash flow to small holders like me. If BKawan distribute 1 treasure for 10 shares, it will be a fat dividends to me. :)


sheldon
936 posts

Posted by sheldon > Nov 17, 2018 10:44 PM | Report Abuse

Distribution of treasury shares = bonus shares - it just cuts the cake into smaller pieces. Hence there'll be a drop in share price. Even dividends per share will be much smaller because there'll be too many shares to pay feed dividends.

Share price trades at a relatively fixed multiple to it's earnings. EPS will be diluted and share price will also fall on that basis.

B. Kawan shares after all the painstaking accumulation over the years will be wasted if redistributed.


Cipta
286 posts

Posted by Cipta > Nov 19, 2018 9:57 AM | Report Abuse

distribution of treasury share is not bonus issue. The total of share issued is not increase nor diluted EPS.


sheldon
936 posts

Posted by sheldon > Nov 19, 2018 4:50 PM | Report Abuse

Actually the effect is like a bonus issue because what was once taken out of circulation is re-issued back to shareholders. The resultant earnings diluted because it is divided by a wider share base.


Cipta
286 posts

Posted by Cipta > Nov 21, 2018 6:35 PM | Report Abuse

According to EMH, liquidity will increase the market efficiency. As we can see recently delisted few companies which has low P/E and share price below NAV.
Increase of EPS by cancelling treasury share may not transform to share price close to its actual value. However, distribute it as dividen (if 1 to 10 ratio) will increase its DIY and liquidity. It will create cash flow to shareholders as well.


LouiseS
212 posts

Posted by LouiseS > Dec 4, 2018 3:36 PM | Report Abuse

The EPS increased 19.7% compared to 2013.


sheldon
936 posts

Posted by sheldon > Dec 10, 2018 11:03 PM | Report Abuse

A lot of share buybacks - that's a v good move!


Cipta
286 posts

Posted by Cipta > Dec 11, 2018 2:10 PM | Report Abuse

positive way to think: the management view the current price is underestimate the co value.


sheldon
936 posts

Posted by sheldon > Dec 11, 2018 4:31 PM | Report Abuse

Also if the co which we own are buying, it's something like we're buying the shares ourselves.


Choivo Capital
3434 posts

Posted by Choivo Capital > Dec 13, 2018 6:47 PM | Report Abuse

if you value KLK at market value, than yes, it is undervalued.

but i think KLK is way too expensive to begin with. I'll only buy it if it was 50% cheaper.

in which case, not that cheap anymore.


sheldon
936 posts

Posted by sheldon > Dec 13, 2018 10:43 PM | Report Abuse

Choivo Capital if you value KLK at market value, than yes, it is undervalued.
but i think KLK is way too expensive to begin with. I'll only buy it if it was 50% cheaper.
in which case, not that cheap anymore.

If you're interested in KLK, then buy Batu Kawan - better value for the earnings


Rwkl
130 posts

Posted by Rwkl > Jan 10, 2019 7:28 PM | Report Abuse

Sheldon, Choivo is saying KLK is way overpriced and Bkawan is not too far behind.
Anyone going to the AGM.


NaasifBaik
45 posts

Posted by NaasifBaik > Jan 18, 2019 5:06 PM | Report Abuse

worth buy in bkawan?


neverlose
57 posts

Posted by neverlose > Jan 18, 2019 5:38 PM | Report Abuse

how long can i hold bkawan for?


Weeah Wang
1 post

Posted by Weeah Wang > Jan 24, 2019 3:39 PM | Report Abuse

worth to buy in bkawan?


matg
880 posts

Posted by matg > Jan 24, 2019 3:45 PM |

Post removed. Why?


LouiseS
212 posts

Posted by LouiseS > Jan 26, 2019 12:49 PM | Report Abuse

The EPS fluctuated considerably in last five years, from 115 to 203 sen per share, PE around 15, ROE around 6.5% and dividend yield 3.29%

https://louisesinvesting.blogspot.com/2019/01/preliminary-screening-of-counters-with_25.html


sheldon
936 posts

Posted by sheldon > Feb 19, 2019 11:35 AM | Report Abuse

There was a RM696m drop in AFS investment. It was clarified to me that the drop was due to decline in price of shares of a company listed on London Stock Exchange, invested by KLK.


Cipta
286 posts

Posted by Cipta > Feb 19, 2019 5:28 PM | Report Abuse

Anyone here attend AGM? any story from there?


James Ng
1686 posts

Posted by James Ng > Apr 6, 2019 2:11 PM | Report Abuse

https://klse.i3investor.com/blogs/general/201242.jsp
[转贴] [BATU KAWAN BHD:如果毛棕榈油价格能够持续恢复,那么2019财政年度集团种植园的利润前景将会令人满意,预计巴都加湾的油脂化学业务将通过提高产能利用率和提高利润率来维持其业绩] - James的股票投资James Share Investing


VSOLAR Sailang Margin All In
2671 posts

Posted by VSOLAR Sailang Margin All In > Apr 7, 2019 12:45 PM | Report Abuse

This company looks very interesting too me... But gearing seems a bit on the high side..


Sami_Value
235 posts

Posted by Sami_Value > Apr 8, 2019 8:21 AM | Report Abuse

palm oil, if recovering will have a very broad +ve impact to our public pockets....last weekend, the FFB price was only at RM280/ton.


casion911
3 posts

Posted by casion911 > Apr 17, 2019 5:14 PM | Report Abuse

wqeawk


sheldon
936 posts

Posted by sheldon > May 14, 2019 3:42 PM | Report Abuse

Interim dividend announcement around the corner


sheldon
936 posts

Posted by sheldon > Oct 26, 2019 10:47 PM | Report Abuse

Wow! A great achievement! The company has reached almost the statutory limit of 10% in share repurchase.

I love this management!


Rwkl
130 posts

Posted by Rwkl > Nov 14, 2019 10:48 PM | Report Abuse

They were buying from $20 till all the way down to the current price.
With no more bullets, it will be interesting to see.......


sheldon
936 posts

Posted by sheldon > Nov 19, 2019 7:37 AM | Report Abuse

Positive on EPS, all things being equal.

They are not permitted to buy any more.


sheldon
936 posts

Posted by sheldon > Nov 19, 2019 3:40 PM | Report Abuse

I fear that this Co has all the ingredients to be taken private namely:

1) 10% of shares taken off the market making it cheaper
2) hardly any trading liquidity
3) under appreciated by the investors (i.e. cheap) - resulting that the major shareholder could acquire the Co for a song

We, the non-controlling interest would then have to give up this prized possession with little compensation


Fabien "The Efficient Capital Allocater"
1442 posts

Posted by Fabien "The Efficient Capital Allocater" > Nov 19, 2019 4:18 PM | Report Abuse

too illiquid to my liking

in situation like this, shareholders interest tend to be not taken care of. in other words, ignored


Rwkl
130 posts

Posted by Rwkl > Nov 19, 2019 8:54 PM | Report Abuse

I have always wondered how KLK are so richly valued compared to them. Well I suppose one can view insas and Imari in the same light


sheldon
936 posts

Posted by sheldon > Nov 20, 2019 10:57 AM | Report Abuse

Rwkl - I see your point on KLK especially on PE basis but not so much on net asset/share basis relative to other plantation cos.

Despite that B. Kawan with its industrial chemical business & Oleochemical via KLK is quite attractive at today's prices.


sheldon
936 posts

Posted by sheldon > Nov 20, 2019 3:19 PM | Report Abuse

Looks like someone's taking my advise really seriously. There's a bump in trading volume.


smallfishyu
62 posts

Posted by smallfishyu > Nov 21, 2019 3:05 PM | Report Abuse

Batu Kawan Bhd’s net profit for the financial year ended September 30, 2019 fell to RM363.49 million from RM365.68 million a year ago.

Revenue declined 15.3 per cent to RM16.05 billion from RM18.95 billion previously, due to weaker performance from the plantation, manufacturing and industrial chemical division, it said in a filing with Bursa Malaysia today.


The group said the plantation segment posted a 19.3 per cent lower revenue of RM6.39 million impacted by weaker crude palm oil (CPO) and palm kernel (PK) prices, while manufacturing reported a 13.2 per cent lower revenue of RM9.19 million.


sheldon
936 posts

Posted by sheldon > Nov 24, 2019 9:30 AM | Report Abuse

CPO prices have since increased by a big jump, which should augur well for cash levels and dividends.


sheldon
936 posts

Posted by sheldon > Nov 27, 2019 5:43 PM | Report Abuse

My open letter, emailed to the senior management....

Dear Management,

Share Buyback
As a shareholder, I am very very happy with the Batu Kawan (BK) Management for removing 10% of issued shares. A lot of money, time & effort have been put in this endeavor. As you may be aware, the PE ratio is a relative constant for given company which in the case of BK is 13++.

Going forward, if the total earnings can be maintained, BK share price can be expected to rise which is good news for shareholders. It also means better ROE and dividends per share.

DRP - New Capital for what purpose?
The share buyback implies that BK has returned excess capital. Now with DRP the entire process will be reversed. There'll be a surplus capital coming out of the pockets of shareholders. Does BK need this extra money? What will this new capital be for? BK after all has over the years of existence been conservatively reinvesting a big chunk of yearly profits back into the business.

Perhaps there an intention to privatise BK?

Let's enjoy life
I certainly need the cash from dividends and I'm sure most of the shareholders also want this twice a year cash for enjoyment & settlement of bills. I'm aware I've a choice but I do not want it at the expense of diluting my stake. Dear major shareholders, please let's enjoy life and not plough-back every excess penny that you get.

Getting Richer Without DRP
At this current state of affairs without DRP, I can reasonably infer that going forward, the share price will appreciate for this well-run company by simply maintaining the earnings. Shareholders will get to spend the entire dividend money (or diversify and invest it another company) and without the concern of dilution.

Please do take note. If you have valid reasons for this, I'd like to hear it.

TQ


Cipta
286 posts

Posted by Cipta > Nov 29, 2019 4:04 PM | Report Abuse

hi Sheldon, even senior management see your plea here they will pretend don't know unless you bring it up in the coming AGM for them to answer.


sheldon
936 posts

Posted by sheldon > Nov 29, 2019 10:53 PM | Report Abuse

AGM not announced yet i understand

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