On wave counts perspective, Higher Degree of Correction Waves could be completed with ABC structure formation as seen. Therefore, we would expect a new Higher Degree of 5 Waves Bull Run be started from now. Currently, Wave 1 could be realized and qualified at 1541.14 as it had met the minimum criteria with 5 sub minutte waves formed and Wave 2 correction is underway with abc waves formation expected. From observation, wave c has just started and could be ended at possible target of 1500 (FIBO 61.8%) or even beyond of 1490 (FIBO 76.4%) without breaching the low of wave C (1474.23). Once abc correction waves realized inconjunction with Wave 2 end simultinously, Wave 3 would be started implusively.
On the other hand, the prior Higher Degree of Correction Waves will be revised If 1474.23 breached. Therefore, the entire wave structure will still be monitored closely as complexity wave formations could be emerged such as WXY correction waves may take place which would lead to a bigger consolidation range stage before Higher Degree of 5 Waves Bull Run.
All waves' count and projected target are generated based on past/current price level and it may be subjected to vary if degree of momentum movement change.
Prevailing trend could be emerged if levels listed below was broken:
Resistance - 1610 Immediate resistance - 1515, 1531 Immediate support - 1490 (DT line) Support - 1475 (UT line)
MikecycAnalysts neutral on plantation sector after jump in palm oil supply TheEdge Fri, Sep 11, 2020 10:42am - 1 week ago
KUALA LUMPUR (Sept 11): Hong Leong Investment Bank (HLIB) Research has reiterated its "neutral" rating of the plantation sector after palm oil inventory closed marginally higher at 1.7 million tonnes in August as higher output and lower exports were partly offset by lower imports and higher domestic consumption.
Following this, the research house named TSH Resources Bhd as its top pick with a "buy" call and target price (TP) of RM1.14. At the time of writing, shares in TSH Resources were 1.5 sen or 1.62% higher at 94 sen, bringing its market value to RM1.3 billion. It saw some 679,900 shares change hands.
On forecasts, HLIB Research analyst Chye Wen Fei said the research house believes the stockpile will remain on an uptrend in the near term due to seasonally stronger output and lower exports to key importing countries, in particular India as its edible oil inventory had normalised since July and China in absence of seasonal demand.
“YTD (year to date), CPO (crude palm oil) prices averaged at RM2,526/tonne. While we are still holding the view that [the] current high CPO prices will unlikely be sustained into the remaining months of 2020, the full-year average price will likely come in higher than our assumption of RM2,350/tonne, possibly averaging RM2,450-RM2,500/tonne.
“Pending a further review of the sector, we keep our assumptions for now at RM2,350- RM2,400/tonne for 2020-2021,” said the analyst in a note.
Meanwhile, PublicInvest Research noted that CPO prices had gone above the RM2,800/metric tonnes (MT) level since last week, led by increasing concerns over worker shortages and demand recovery from the reopening of economies.
Nevertheless, the research house thinks the current CPO prices may not be sustainable in the final quarter given the surge in palm oil supply during the peak production season.
Thus, it maintained "neutral" on the sector as it sees limited upside from prevailing levels.
22/09/2020 12:45 AM
Mikecyc“CPO production rose 3.1% m-o-m (month-on-month) to 1.86 million MT after seeing a drop of 4.2% in the previous month. The stronger production was mainly contributed by Peninsular Malaysia (+1% m-o-m) and East Malaysia (+5.8%).
“We expect to see continuous growth in production in the next three months before hitting a peak in October/November. However, the main concern is about worker shortages with a majority of plantation players short by 5%-10% following the Malaysian government’s barring of foreign worker hiring till year end,” said PublicInvest Research analyst Chong Hoe Leong in a note.
22/09/2020 12:45 AM
MikecycTDM undergone exhaustion of fund raising methods, will face with cash insolvency sooner or later :
1) asset disposals for sale of Indonesia Plantations, got court case in proceedings against Indonesia local regulators.
Update: court case is lost to Indonesia local regulators. Asset Disposals deal is withdrawn by the bank .
2) Supply 60 % of output agreement to get upfront cash but is delayed since July2019 as BAnk Guarantees is still cannot provide to Buyer company.
3) PP shares of 168.3 million proposed on March2020 ...1st tranche is fixed price at 0.217 but no quantity indicated , is signs of lack of confidence of subscribers. Only 40 million PP shares is subscribed , balance 128.3 million is no corporate investors to buy ...
Avoid TDM .. Tak Da Mangkin ..
22/09/2020 12:49 AM
MikecycHaha PP fund raising is sufficiently or not ? Cash RM 7 million plus RM 62 million debt to be in settlement agreement . Currently total liabilities is ard RM830 million . Is a bailout??
>> Update : Deal is done on 1/8/2020 . More 62 million Debt and a bail out ..
KUALA LUMPUR: TH Plantations Bhd
(THP) has entered into a share purchase agreement with TDM Bhd
to dispose of a 70% equity interest in THP-YT Plantation Sdn Bhd (THP-YT) for RM7mil in cash. As part of the proposed sale, THP said its wholly-owned subsidiary, THP Suria Mekar Sdn Bhd (THPSM), THP-YT and TDM had also executed a settlement agreement whereby the parties agreed that a part of the inter-company advances of RM78.68mil owed by THP-YT to THPSM amounting to RM62mil will be settled.
Yayasan Terengganu (YT) owns the remaining 30% stake in THP-YT.
note : Depreciation n amortisation is ( 20,836,000)
#Refer to FY20 QR1 ended March 2020 :
Revenue Profit/ ( Loss)
Plantations 57,120,000 ( 6,502,000)
Healthcare 61,915,000 3,008,000
#FY19 QR4 ended December 2019 :
Revenue Profit/ ( Loss)
Plantations 58,754,000 5,426,000
Healthcare 65,101,000 5,770,000
Note : Profit is reduced and become in Loss , and a lots of court cases , one court case is instructed to deposit RM 1.0 million as to winding up case.
>>EMPHASIS OF MATTER We draw your attention to Note 42 to the financial statements where various significant and material misstatements have been adjusted retrospectively in the 2018 financial statements. These errors have affected the financial position, results and the relevant disclosures of the prior years. Our opinion is not modified with respect to this matter.
22/09/2020 12:52 AM
Mikecyc>> Loans and Borrowings to be Maturity in year 2020 , total = RM 80,632,000
MabelOn stocks selection, we believe pure plantation players to benefit more from the recent surge in FCPO prices (+9.57% WoW) and 13.6% MoM) and could attract active trading interests in the near term. To recap, recent surge in FCPO was mainly driven by a confluence of positives such as playing catch-up with a rally in soybean prices due to robust demand from China (as major crops were destroyed by typhoons), renewed buying interests from India, a weak USD, expectations of the development of a La Niña climate pattern potentially leading to lower production etc.
Based on the monthly chart, FCPO could break the formidable LT neckline resistance near RM3200, supported by the bullish indicators. A decisive breakout above this hurdle could spur prices higher at RM3400-3600 zones. Key supports are situated at RM2700-2900 levels. "
TheSecretThe year was 1996. The Asian Stock Markets Were in the Hottest Euphoria. Amost every one was enjoying increasing profits. Many have resigned from their jobs to do full time trading in the stock market. Stock market tips and conversations were the order of the day. Everywhere in offices, homes, coffee shops, markets, eating places people talked only about the next “Limit Up” stocks.
In every trading Hall or Room there is no available seats. In RHB Bank HQ there isn’t even standing room. Cramped, jammed and packed with traders and specualtors from all walks of life. It Was The GoGo Years Before The Asian Financial Crisis!
One man stood out. Peter Lim of Singapore. He sold all his shares near the very peak and bought into just one counter – WILMAR the Plantation Stock.
On hindsight it was an uncanny but very accurate move. Next year in July 2nd 1997 George Soros attacked the Thai bath. The Thai bath collapsed and then contagion spread to Malaysia, Singapore, Hk, Korea, Indonesia – One by One Their Stock Markets Collapsed like tent pins.
At the height KLSE was 1332 and at the bottom it was only 262 points – A Crash of 81%
Nobody fully invested could have escaped such a carnage. It was a disaster for many. Tens of thousands went bankrupt. Many Banks & Financial Institutions were insolvent. Before the Asian Financial Crisis there were 49 Banks and Credit Companies in Malaysia. With the devastating carnage less than 10 Banks now standing. The rest became history.
Tycoon Peter Lim invested $10 millions into Wilmar – the plantation stock owned by Robert Kuok.
How come Peter was so “chun chun”? All $10 millions into one single stock. And he was right on target. Four years later in 2,000 Peter Lim “THE REMISIER KING” of Singapore sold his Wilmar shares for a cool $1.5 Billions!
So plantation stock investment if timed well can make you a billionaire!
As for Robert Kuok he became the Richest Man No. One in All of Malaysia with over Rm40 Billions.
Ha! Are we now entering another phase of market doom? Maybe yes or maybe no.
But This Is For Sure:
A POWERFUL EL NINO IS NOW ONGOING
Hmmm?
Let’s SEE if Plantation Stocks will create more millionaires and billionaires this round.
22/09/2020 6:45 PM
bulldogFlushing the weak holder and the naysayers 3 stooges chicken out chicken chop chicken soup donkey monkey MHC promoter tp18 Mickey mouse already shy away and hiding in the plantation jungle
