MomentumInvesting

冷眼心水股: 常成控股

MomentumInvesting
Publish date: Sun, 22 Jan 2017, 11:03 PM
16. 常成控股(JTIASA,4383,主板工業股)
-17萬英畝的棕油園,大概每畝1萬2000令吉至1萬3000令吉。
-用企業價值(EV)來計算更好。
-砂拉越最大的木商,擁有170萬畝的森林,木柴資產占全部資產的42%。
-如果將木柴業務售出,棕油園每畝只需要7000令吉。
-反向——從3令吉跌至1令吉,之前私下募股以3令吉售出。
-下跌風險小,上漲空間則不清楚。
-公司大部分棕油園到了第7年的黃金時期。
(注:棕油3年開始結果,第5年開始收支平衡,第7年開始賺錢,第17年以後產量走下坡。)
-4 個棕油提煉廠,最大的其中一個開始投入生產,今年比去年產量將大增。
-雖然欠債高,但是現金流強勁,棕油肯定賣的出。
-但是缺乏股息,所以股價才如此低。
http://klse.i3investor.com/blogs/the_cold_eyed/108100.jsp
 




JTIASA简介

业务
- 种植
- 伐木与木材贸易
- 锯木

JTIASA(常成控股,4383,工业产品股),成立于1960年,并于1969年10月30日上市大马交易所主板。

JTIASA的创办人为丹斯里张晓卿,涉足三个主要业务:
- 伐木与圆木(Log)贸易
- 棕油业务、
- 生产与经销锯木

该集团原本只是一家伐木与木材贸易公司,而且也是砂拉越最大的木商,拥有伐木特许经营权,可供砍伐的森林面积达到170万英亩。同时,该公司也重新造林(reforestation),以便能够有续经营伐木业。

JTIASA也是近年来才开始将业务多元化至油棕种植,而且积极扩展着一个业务,目前拥有6万9000公顷(约17万英亩)的油棕园,而且大部分的油棕树都已经到了7年的黄金收割期。(注:油棕树的常量高峰期介于7至16年)

冷眼前辈之所以看要JTIASA的理由,是因为该集团的木材资产占了所有资产的42%。假设将木材业务全部脱手,那么该集团的油棕园每英亩才不过7000令吉。

再加上JTIASA的股价从高峰时期的3令吉下跌到目前1令吉左右,因此下跌风险小。

以目前的情形来看的确如此,再加上当前棕油价格已经开始回升,相信在未来的两个季度,JTIASA的业绩有望持续走高。

 

http://bblifediary.blogspot.my/2016/11/jtiasa.html

 

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Discussions
1 person likes this. Showing 6 of 6 comments

John Lu

Good stock but hard to move...not so fast yet...need to wait

If u follow Calvin call buy at above 1.50...u go holland with him again.

This Calvin sochai always give buy call at wrong timing

2017-01-22 23:17

calvintaneng

Calvin stock picks are not for goreng but for investing longer term.

Calvin invests like this

If Calvin sees a share is undervalue Calvin will start buying. And if prices dip after buying Calvin will average down & buy more.

But to do this Calvin has to study very carefully the TRUE VALUE of a Stock. If the Stock is good, even though it might not perform for months, eventually the price will rise up because of its fundamental intrinsic value later.

See how Calvin made these chun chun calls over 3 years in i3 forum:

GO CHECK THESE OUT CAREFULLY:

1) Super Enterprize made 200%
2) Pohuat made 200% (All furniture stocks bull run Calvin called to buy)
3) Silk made 200%
4) JAKS (Jaks jump, jump, JUMPED from 40 cts to Rm1.20 (UP A NICE 200%)
5) MyEG made 100%
6) AJIYA made 100%
7) Supermax made 100%
8) JERASIA made 100%
9) IPMUDA made more than 100% & LIMIT UP!
10) Pm CORP made 100% (3 Times in 3 years)
11) PRESTAR (Pre Star buy it before it turns into a Star) Made 70%
12) ASB (Up 50%)
13) KHEESAN Made 80%
14) PADINI made 90%
15) TAWIN (Big win) Up 80%
16) Kimlun - The Golden Dragon made 60%
17) THE STORE (Up 25%)
18) NTPM - (King of Tissue) Up 40%
19) WANGZNG - King of Fortress (Up 40%)
20) MAHSING - The Singing Horse (Up 25%)
21) MAYBULK - The rebound of Baltic Dry Index (Up 90%)
22) CEPATWAWASAN - Cepat cepat beli (Up 40%)
23) NYLEX - Up 20%
24) Southern Steel (Up 30%)
25) KULIM (Taken private) Up 60%
26) TMakmur (Land of Prosperity. Taken private) Up 37%
27) KPSCB (Kaboom Power Surging) Up 45%
28) MASTEEL (Master of Long Steel) Made 60%
29) THPLANT (Up 15%)
30) BPLANT (Up 12%)
31) JTIASA (Giant Treasure) (Up 40%)
32) MHC PLANT (Up 15%)
33) CPO FUTURE (Up 15%)
34) INSAS (Up 11%)
35) WASEONG (Up 20%)
36) MFCB (My Father Comes Back) Made 40%
37) Cyclical 11MP Election stocks KKB (Kaboom Kaboom Booming) Up 35%
38) Cyclical 11MP Election stocks CMSB (Up15%)
39) RceCapital (The Best of Banking: Legalised Ah Long) Made 60%

LATEST ANNOUNCEMENTS:

THE STORE GOING TO BE TAKEN PRIVATE FOR 50% PROFIT OR MORE THAN 18% FOR EACH YEAR OF 3 YEARS!!

AND PRESTAR WILL BE ANOTHER 100% JACKPOT SOON!!

SO 4 STOCKS MADE 200% (Super Enterprize, Jaks, Silk & Pohuat)

6 STOCKS MADE 100% (Ipmuda, Supermax, Ajiya, Jerasia, Pm Corp & My EG)

4 STOCKS TAKEN PRIVATE FROM 37% to 200% GAIN
KULIM, TMAKMUR, THE STORE & SUPER ENTERPRIZE!


John Lu

Calvin invests in real fundamental shares. Cheers!

2017-01-22 23:21

manji

i followed calvin buy call when jtiasa below 1.2

2017-01-22 23:22

calvintaneng

Posted by manji > Jan 22, 2017 11:22 PM | Report Abuse

i followed calvin buy call when jtiasa below 1.2

Manji is Clever!!

Sorry for John Lu,

He sailang into Melewar at 60 cts. Now still stuck there!!

2017-01-22 23:25

noah

calvin what is your view on the declining price of plywood on JTIASA?

2017-01-25 18:07

Darren

WOW, who bought on Jan 2017 bought at 1.2; Current price also at 1.19; very stable & defensive stock

2017-06-14 13:34

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