THE INVESTMENT APPROACH OF CALVIN TAN
WTK THE OVERLOOKED TIMBER STOCK IN THE SUDDEN INTEREST IN FURNITURE STOCKS, Calvin Tan Research
calvintaneng
Publish date: Mon, 23 Jul 2018, 10:42 PM
calvintaneng
0 1,802
Hi Guys,
I have An Investment Approach I which I would like to all.
I have An Investment Approach I which I would like to all.
Dear Friends of i3 Forum,
Today wiith News of Trump raising Tariff against China USD50 Billions Furniture Exports - Stocks like Latitute, Lihen Hevea & Pohuat have surged.
One stock did not but dropped in stead. That stock is WTK
SO CALVIN IS VERY INTERESTED
Why should Calvin be interested in a Stock that dropped and not chase those that have surged?
Good question
The answers now many
1) At 60 sen with NTA of Rm2.15 WTK is selling at a Huge Discount of 73% Discount to NTA.
This is more than twice the Margin of Safety required by Ben Graham (Note: Calvin follows the Columbia School of Thoughts in Investment. SAFETY FIRST. Then only expect a profit. In other words, "Not to lose money" as propounded by Ben's Best Student called Warren Buffet
See chart
Currency: Malaysian Ringgit (MYR)
SUMMARY OF KEY FINANCIAL INFORMATION
|
|
INDIVIDUAL PERIOD
|
CUMULATIVE PERIOD
|
||||
|
CURRENT YEAR QUARTER
|
PRECEDING YEAR
CORRESPONDING QUARTER |
CURRENT YEAR TO DATE
|
PRECEDING YEAR
CORRESPONDING PERIOD |
||
|
31 Mar 2018
|
31 Mar 2017
|
31 Mar 2018
|
31 Mar 2017
|
||
|
$$'000
|
$$'000
|
$$'000
|
$$'000
|
||
| 1 | Revenue |
183,229
|
209,516
|
183,229
|
209,516
|
| 2 | Profit/(loss) before tax |
64,348
|
7,534
|
64,348
|
7,534
|
| 3 | Profit/(loss) for the period |
63,180
|
-4,276
|
63,180
|
-4,276
|
| 4 | Profit/(loss) attributable to ordinary equity holders of the parent |
63,935
|
-3,580
|
63,935
|
-3,580
|
| 5 | Basic earnings/(loss) per share (Subunit) |
13.39
|
-0.75
|
13.39
|
-0.75
|
| 6 | Proposed/Declared dividend per share (Subunit) |
0.00
|
0.00
|
0.00
|
0.00
|
|
AS AT END OF CURRENT QUARTER
|
AS AT PRECEDING FINANCIAL YEAR END
|
||||
| 7 | Net assets per share attributable to ordinary equity holders of the parent ($$) |
2.1500
|
2.0200
|
||
2) ASSETS OF WTK ARE OF REAL VALUE. SOME OF IMMENSE VALUE
WTK Assets are Rock Solid.
2 ASSETS IN SINGAPORE PIQUED MY INTEREST ESPECIALLY AS I LIVE IN SINGAPORE
No. 86 * Tagore Lane Industrial Estate 11,354 sq.ft. Freehold
Land with office & warehouse 30 September 1983 ( 34 years) Rm4,080,000
A search in Singapore Propertyguru reveals 9 factories for sale in Tagore Lane
Of the 9 this is the biggest in land scarce Singapore
See
It is 4,176 sq ft with asking price of S$2,980,000 or S$713.60
Current Conversion Rate from Sg to Rm is S$1.00 to Rm2.97
So S$2,980,000 x 2.97 = That's Rm8,850,600
Now Look At WTK assets again
It is 11,354 sq ft Book Value is only Rm4,080,000
Now this was 34 year ago prices when WTK bought this factory?
What is the exact Value Now
So
11,354 x 713.60 x 2.97 = Rm24,063,576
So WTK Assets in Singapore Current Value is 6 X more
That is the IMMENSE HIDDEN VALUE OF WTK ASSETS
What about Its Business?
3) WTK IS MORE TIMBER THAN PALM OIL
SO THE CURRENT FURNITURE CRAZE WILL ALSIO LIFT UP WTK IN A MATTER OF TIME
FURNITURE COMES FROM TIMBER OR LOGS. OF WHICH WTK HAS MANY MANY & MANY MORE
ONE OF THE LARGEST TIMBER PLAYER IN SARAWAK
4) ANOTHER GOOD NEWS IS SARAWAK GOVT FOLLOWS SABAH TO BAN NEW LOGGING LICENSES FOR LOG EXTRACTS
THIS IS VERY GOOD FOR WTK PLYWOOD INDUSTRY JUST LIKE WHAT SABAH DID FOR EKSONS
S’wak govt to stop issuing new timber licenses – CM
The Sarawak government will continue to stop the issuance of new timber licences in all out efforts to protect and retain the remaining indigenous virgin jungle in the state.
Chief Minister Datuk Patinggi Abang Johari Tun Openg stressed that the vast tracts of the forest have already been logged and it was very difficult to restore them.
“Worse still is the stripping of the forests of all their vegetation by plywood factories operating deep in the forests, ostensibly to clear the land for the planting of oil palm,” he told the august House in his winding up speech at the State Assembly Sitting today
“As such, therefore, there will be no more new palm oil plantation licences except for NCR (Native Customary Rights) land,” he pointed out.
The state government, he added, will continue to fight illegal logging.
“Not only are they just stealing timber in areas which are not licensed to them, but they are also intruding into forest reserve areas,” he said.
“If unchecked, we may have no more forest reserves of any kind, fully protected or otherwise. We must protect our protected forests if we want to retain any of our indigenous virgin jungle,” he added
WTK HAS BEEN GIVEN SOLE RIGHTS FOR MANY TIMBER CONCESSIONS. IT IS ALMOST A MONOPOLY WITH TAANN & IN SMALL MEASURE JTIASA
CALVIN FIRST CALLED FOR A BUY ON WTK (WAH TELAH KAYA) AT ABOVE RM1.10
PRICE HAS NOW FALLEN BY A HUGE 45% DISCOUNT
ITS LOSSES FROM OIL & GAS MISADVENTURE NOW OVER
JUST LIKE CALVIN ISSUED BUY CALL ON MEDIA AT RM1.00
THEN CALVIN ISSUED EVEN STRONGER BUY CALL ON MEDIA AT 28 SEN (NOW ALMOST REBOUNDED TO 60 SEN UP BY MORE THAN 100% FRIOM ITS LOWS)
NOW CALVIN ISSUES A SCREAMING BUY FOR WTK
Please buy/sell after doing your own due diligence
WARM REGARDS
Calvin Tan Research
Singapore
Currency: Malaysian Ringgit (MYR)
SUMMARY OF KEY FINANCIAL INFORMATION
|
|
INDIVIDUAL PERIOD
|
CUMULATIVE PERIOD
|
||||
|
CURRENT YEAR QUARTER
|
PRECEDING YEAR
CORRESPONDING QUARTER |
CURRENT YEAR TO DATE
|
PRECEDING YEAR
CORRESPONDING PERIOD |
||
|
31 Mar 2018
|
31 Mar 2017
|
31 Mar 2018
|
31 Mar 2017
|
||
|
$$'000
|
$$'000
|
$$'000
|
$$'000
|
||
| 1 | Revenue |
183,229
|
209,516
|
183,229
|
209,516
|
| 2 | Profit/(loss) before tax |
64,348
|
7,534
|
64,348
|
7,534
|
| 3 | Profit/(loss) for the period |
63,180
|
-4,276
|
63,180
|
-4,276
|
| 4 | Profit/(loss) attributable to ordinary equity holders of the parent |
63,935
|
-3,580
|
63,935
|
-3,580
|
| 5 | Basic earnings/(loss) per share (Subunit) |
13.39
|
-0.75
|
13.39
|
-0.75
|
| 6 | Proposed/Declared dividend per share (Subunit) |
0.00
|
0.00
|
0.00
|
0.00
|
|
AS AT END OF CURRENT QUARTER
|
AS AT PRECEDING FINANCIAL YEAR END
|
||||
| 7 | Net assets per share attributable to ordinary equity holders of the parent ($$) |
2.1500
|
2.0200
|
||
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| Chart | Stock Name | Last | Change | Volume |
|---|
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Discussions
Be the first to like this. Showing 21 of 21 comments
many property stocks also surge uem,ideal,ewein and many more except ken.so wtk is ken's fren ar? hehe
2018-07-23 22:47
ahh,i also forgot tambun from 70cts++ now 1.00,ken no surge pass 1.00 yet?
2018-07-23 22:49
but bro apolloang, did u read mata buta calvintaneng's mnrb post????
lol...........
2018-07-23 22:59
i don't care one,just the price and timing that matters.i will invest in mnrb when the time comes,but in the meanwhile i will bet on others 1st
2018-07-23 23:05
https://klse.i3investor.com/m/blog/www.eaglevisioninvest.com/95435.jsp
Whao TanEnd research house issued a buy call 2 years ago when Price was at Rm1.2! If you follow his Holland call you will lose 50% of your investment !
2018-07-23 23:12
Yes ah?
At Rm1.20 nibble
At 60 sen then SAILANG!!!
WUHUHU
JUST LIKE I SAILANG MEDIA AT 28 SEN
AND PM CORP AT 9 SEN
AND JAKS AT 40 SEN
OPCOM AT 35 SEN
GSB AT 9 SEN
YAHOOOOOOO!!!!
2018-07-23 23:34
but mata buta calvintaneng, how abt mnrb????
can i still buy the stock since u alleged that it is in serious financial troubles????
so how????
2018-07-23 23:35
apolloang i don't care one,just the price and timing that matters.i will invest in mnrb when the time comes,but in the meanwhile i will bet on others 1st
23/07/2018 23:05
WAH!
SO CLEVER!!!
PRICE & TIMING THAT MATTERS?
YESSSS!!!
PRICE OF WTK IS VERY CHEAP PRICE TO BOOK VALUE
TIMING IS CHUN CHUN AS TRUMP IMPOSED USD50 BILLION TARIFF ON CHINA FURNITURE EXPORT
2018-07-23 23:36
but mata buta calvintaneng, u said that mnrb is in serious financial troubles, so how????
is it true????
maybe i shld call mnrb ir for clarification tom am first thing????
2018-07-23 23:38
apolloang no lah i better buy dutaland 1st,wtk not in my list yet.....hehe
23/07/2018 23:38
dutaland first?
ALSO CLEVER
Duta Yap been loading up
August result out price will explode up
2018-07-23 23:39
but mata buta calvintaneng, is mnrb in serious financial troubles as alleged in ur posting????
i really worried whether mnrb will go bankrupt, so how???
tomorrow i call mnrb for clarification????
will mnrb ir be able to give a clarification?????
2018-07-23 23:41
when price at 1.2 you asked ppl to all in. after 2 years when the price at 0.6 you still asking people to all in. what a con artist.
2018-07-24 15:51
thanks Calvin for alerting and sharing with us your valuable and timely insights.
2018-07-24 16:39
I think this is a speculation after glove counters overbought. Use trade war as an excuse to push up wood stocks as USD is getting stronger each day after US Fed promised to increase two more times interest rate this year.
This is also based on a speculation that trade war will force Americans to buy from Malaysia only. Other countries are dead.
2018-07-24 16:49
Kyosan
Gpharos has nta
but WTK has these:
1) NTA OF DEEP VALUE ASSETS. WTK BOUGHT REAL ESTATE LONG AGO FOR
ITS MASKING TAPE BUSINESS IN PENANG AND SINGAPORE
2) THESE ASSETS HAVE NOW APPRECIATED IN VALUE BY 5X TO 6X OVER THE YEARS. IF REVALUED WTK NTA SHOUD RISE ABOVE RM3.00
3) AFTER O&G WRITE OFF THE BALANCE SHEET OF WTK STILL REGISTER ABOVE 30 SEN NET CASH
SO WTK NOW HAS BIG MARGIN OF SAFETY AND LITTLE DOWNSIDE
ITS UPSIDE WILL BE SPURRED BY PLYWOOD DEMAND FROM JAPAN OLYMPIC
AND LOGS DEMAND FROM INDIA
ALSO IN WAITING IS THE FIRST HARVEST OF OWN GROWN FOREST PRODUCTS BY YEAR 2020 WHEN THEY MATURE
2018-07-26 08:35
AND STRONG WINDFALL IS THE TARIFF OF USD50 BILLIONS RAISED AGAINST CHINA FURNITURE EXPORT TO THE US WHICH WILL TURN BUYING TO MALAYSIAN TIMBER EXPORT WHICH WILL BE CHEAPER BY COMPARISON
ALL THESE ARE NEW POSITIVE TURN OF EVENT FOR WTK
2018-07-26 08:38
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but mata buta calvintaneng, pls answer ur allegation that mnrb is in financial troubles.
its quite a serious allegation, u know????
lol...........
2018-07-23 22:46