THE INVESTMENT APPROACH OF CALVIN TAN

AFTER GLOVE BULL NOW FCPO RM3,505 WILL FGV BE LIKE TOPGLOVE & JTIASA BE SUPERMAX? Calvin Tan Research

calvintaneng
Publish date: Sun, 29 Nov 2020, 09:02 PM
calvintaneng
0 1,801
Hi Guys,

I have An Investment Approach I which I would like to all.
Following Message

Hi guys, Please read to the end while we type now 

As one who has lived through the Medical Glove Superbull of seeing Supermax rose from my purchase price of Rm1.73 to the high of Rm24.44 now I "SEE" Palm Oil Bull at its beginning

Let Calvin refresh your happy memories

 

See my post

A TALE OF 3 GLOVES IN PICTURES : COMFORT GLOVE, TOPGLOVE & SUPERMAX, Calvin Tan Research

Author:    |    Publish date: 

 

 

 

Hi guys'

Now all 3 Results are out

Comfort Glove, Topglove & Supermax

Let's see their figures

1) COMFORT GLOVE

SUMMARY OF KEY FINANCIAL INFORMATION
30 Apr 2020
 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Apr 2020
30 Apr 2019
30 Apr 2020
30 Apr 2019
$$'000
$$'000
$$'000
$$'000
1 Revenue
152,907
119,956
152,907
119,956
2 Profit/(loss) before tax
22,242
10,555
22,242
10,555
3 Profit/(loss) for the period
16,339
8,411
16,339
8,411
4 Profit/(loss) attributable to ordinary equity holders of the parent
16,339
8,411
16,339
8,411
5 Basic earnings/(loss) per share (Subunit)
2.80
1.50
2.80
1.50
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 ($$)
0.5600
0.5500
 

 

It earns 2.8 sen (Annualised 2.8 sen x 4)

= 11.2 sen

If we give it a 30 P/E then

11.2 x 30 = Rm3,360

So price should trade at Rm3.36 (if P/E is 30)

 

2) TOP GLOVE

SUMMARY OF KEY FINANCIAL INFORMATION
31 May 2020
 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31 May 2020
31 May 2019
31 May 2020
31 May 2019
$$'000
$$'000
$$'000
$$'000
1 Revenue
1,688,324
1,190,235
4,127,201
3,612,165
2 Profit/(loss) before tax
422,020
82,239
677,846
349,588
3 Profit/(loss) for the period
350,033
75,188
577,802
293,536
4 Profit/(loss) attributable to ordinary equity holders of the parent
347,895
74,665
575,004
290,512
5 Basic earnings/(loss) per share (Subunit)
13.59
2.92
22.46
11.37
6 Proposed/Declared dividend per share (Subunit)
10.00
3.50
10.00
3.50
   
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 ($$)
1.2900
0.9900
 

1) Profit this quarter 13.59 (Annualized 13.59x4 )

= 54.36 sen

If PE 30 then 54.36 x 30 = Rm16,308

Or Rm16.30 (P/E 30)

 

3) SUPERMAX

SUMMARY OF KEY FINANCIAL INFORMATION
31 Mar 2020
 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31 Mar 2020
31 Mar 2019
31 Mar 2020
31 Mar 2019
$$'000
$$'000
$$'000
$$'000
1 Revenue
447,247
361,199
1,202,685
1,113,352
2 Profit/(loss) before tax
95,277
49,416
169,549
156,409
3 Profit/(loss) for the period
72,349
34,963
127,331
109,653
4 Profit/(loss) attributable to ordinary equity holders of the parent
71,056
34,617
125,968
108,695
5 Basic earnings/(loss) per share (Subunit)
5.42
2.64
9.62
8.29
6 Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
1.50
   
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 ($$)
0.9200
0.8300
 

 

Profit 5.42 sen (If annualized 5.42 x 4 )

= 21.68

If P/E 30 then 21.68 x30 = Rm6,504

Rm6.50 (If P/E 30)

Currently Comfort is Rm2.93 (If P/E 30 should be Rm3.36)

So is Comfort trading below P/E 30 value?

 

2) TopGlove is Rm16.90 (If P/E 30 should be Rm16.30)

Is Topglove trading above its 30 P/E?

 

3) SUPERMAX is Rm7.91 (If P/E 30 then Rm6.50)

Is SuperMax trading at a premium above its P/E 30 value of Rm6.50)

 

ON FACE VALUE WE SEE COMFORT GLOVE IS TRADING BELOW IS 30 P/E

WHILE SUPERMAX IS TRADING HIGHER ABOVE ITS 30 P/E

 

THERE MUST BE A REASON WHY THE MARKET UNDERVALUES COMFORT & OVER BULLISH ON SUPERMAX

How?

So we dig deeper

See

1) COMFORT GLOVE IS LIKE A YOUNG CARE FREE BOY WALKING

See little boy running in the meadow

Little boy running in meadow, side view

This is the attitude of Comfort Glove Bosses

See

They happily merrily sell shares.

 

2) TOPGLOVE

Adult Entrepreneur Portrait Wearing Tie Walking On Sidewalk Stock ...

Top Glove is a serious grown adult walking confidently

See

They are gathering Wealth & Accumulating it (Esos) No selling yet because still seriously expecting more to life

 

3) SUPERMAX

Stock Photo - Young man running with briefcase. Stock Photos ...

SuperMax is like A Young Business Man Running to Get More Business

3 New Factories being built concurrently

Just bought another land to build glove factory number 4

Instead of doing easy OEM SuperMax go all out doing OBM to get more Value

See

IN STEAD OF SELLING THEY ARE BUYING MORE FROM OPEN MARKET FROM RM7.50 TO RM7.73

 

WHICH ONE WILL YOU CHOOSE?

 

Best regards

Calvin Tan Research

Singapore

 

Please buy/sell after doing your own due diligence

 

The above was a chun chun post on Supermax in June see below

Author:    |    Publish date: 

 

 

Fri, 12 Jun 2020, 11:04 PM

 

On 12th June 2020 Supermax opened at Rm7.50

BY AUGUST 7TH 2020 SUPERMAX ZOOOOOMED TO ITS PEAK PRICE OF RM24.44 (after that split by bonus issues)

Those were exhilarating times of the MEDICAL GLOVE SUPERBULL

Are we going into the Palm Oil Bull Now?

As far back as April 2020 Supermax result was still mediocre

See

 

. SUPERMAX

SUMMARY OF KEY FINANCIAL INFORMATION
31 Dec 2019
 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31 Dec 2019
31 Dec 2018
31 Dec 2019
31 Dec 2018
$$'000
$$'000
$$'000
$$'000
1 Revenue
385,497
385,101
755,438
752,153
2 Profit/(loss) before tax
41,829
54,317
74,272
106,993
3 Profit/(loss) for the period
30,022
38,721
54,982
74,690
4 Profit/(loss) attributable to ordinary equity holders of the parent
30,165
38,136
54,912
74,078
5 Basic earnings/(loss) per share (Subunit)
2.31
2.91
4.21
5.65
6 Proposed/Declared dividend per share (Subunit)
0.00
1.50
0.00
1.50
   
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 ($$)
0.8600
  

Supermax result for last quarter of 2020 was only a mere 2.31 sen

Supermax highest price in December was only Rm1.47 & Wuhan Virus just started on same month in China.

By March 2020 Supermax like all others fell to the low of Rm1.30 because people were still skeptical how Covid 19 will play out

But that was the lowest at Rm1.30. No more after that as Covid 19 news spread and spread and Supermax worked overtime to get sales. The rest is history & Calvin made 1,000% from Supermax

Now just like Supermax in early days Jtiasa is the next potential Stock like Supermax

See Jtiasa latest quarter result

1) JAYA TIASA (4383) (OR GIANT TREASURE) 

SUMMARY OF KEY FINANCIAL INFORMATION
30 Sep 2020
 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Sep 2020
30 Sep 2019
30 Sep 2020
30 Sep 2019
$$'000
$$'000
$$'000
$$'000
1 Revenue
221,095
232,526
221,095
232,526
2 Profit/(loss) before tax
46,996
31,026
46,996
31,026
3 Profit/(loss) for the period
34,941
16,165
34,941
16,165
4 Profit/(loss) attributable to ordinary equity holders of the parent
34,844
15,774
34,844
15,774
5 Basic earnings/(loss) per share (Subunit)
3.60
1.63
3.60
1.63
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 ($$)
1.1800
1.1500
 

 

See Topglove past result

 TOP GLOVE

SUMMARY OF KEY FINANCIAL INFORMATION
30 Nov 2019
 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Nov 2019
30 Nov 2018
30 Nov 2019
30 Nov 2018
$$'000
$$'000
$$'000
$$'000
1 Revenue
1,209,100
1,261,965
1,209,100
1,261,965
2 Profit/(loss) before tax
125,452
141,879
125,452
141,879
3 Profit/(loss) for the period
111,757
111,671
111,757
111,671
4 Profit/(loss) attributable to ordinary equity holders of the parent
111,426
110,055
111,426
110,055
5 Basic earnings/(loss) per share (Subunit)
4.36
4.31
4.36
4.31
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 ($$)
1.0100
1.0000

 

 

 

And see FGV result

SUMMARY OF KEY FINANCIAL INFORMATION
30 Sep 2020
 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Sep 2020
30 Sep 2019
30 Sep 2020
30 Sep 2019
$$'000
$$'000
$$'000
$$'000
1 Revenue
3,989,459
3,549,245
10,066,906
10,104,663
2 Profit/(loss) before tax
172,272
-361,553
22,038
-396,449
3 Profit/(loss) for the period
112,533
-363,071
-49,288
-420,298
4 Profit/(loss) attributable to ordinary equity holders of the parent
136,893
-262,410
15,093
-317,980
5 Basic earnings/(loss) per share (Subunit)
3.80
-7.20
0.40
-8.70
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 ($$)
1.1300
1.1400

Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:
 

Country Base Unit Subunit
Malaysia Ringgit Sen
United States Dollar Cent
United Kingdom Pound Pence

 

 

Best Regards

Calvin Tan Research

Singapore

 

Disclaimer

All information provided here should be treated for informational purposes only. It is solely reflecting author's personal views and the author should not be held liable for any actions taken in reliance on information contained herein

 

More articles on THE INVESTMENT APPROACH OF CALVIN TAN
DATA CENTER SPURS NEED FOR HDD

Created by calvintaneng | May 10, 2024

CALVIN TAN SAY, THANK YOU 9 MILLION TIMES FOR 9 MILLION PAGE VIEWS IN i3 INVESTORS' FORUM!

Created by calvintaneng | May 10, 2024

TSH RESOURCES VERSUS UEMS, KSL & CRESCENDO, Compare & Contrast Their ASSETS VALUE & Potential, Calvin Tan

Created by calvintaneng | May 06, 2024

CALVIN'S SUNDAY SHARING FROM BIBLE: (REPOSTING: BUSINESSES THAT WILL LAST TILL END OF TIME, Calvin Tan

Created by calvintaneng | May 05, 2024

TSH RESOURCES (9059) The Events Yet Ahead. And They are Extremely Exciting, Calvin Tan

Created by calvintaneng | May 04, 2024

RSAWIT MD {Managing Director) Walks His Talks (HE HAS BOUGHT ENOUGH RSAWIT SHARES TO BE IN TOP 30 HOLDERS, Calvin Tan

Created by calvintaneng | May 04, 2024

PALM OIL COMPANIES GOT 2 INCOMES: THE ACTIVE INCOME & PASSIVE INCOME OF A PALM OIL COMPANY, Calvin Tan

Created by calvintaneng | May 03, 2024

MKHOP (5139) What Is Its Current Forward P/E and Intrinsic Value, Calvin Tan

Created by calvintaneng | May 02, 2024

EPF & i FAST Funds (Singapore) Are Now in Top 30 Holders of TSH Resources, Calvin Tan

Created by calvintaneng | Apr 29, 2024

AFTER BPLANT TAKEN PRIVATE BY LTAT WE FINALLY SEE ITS REAL VALUE, Calvin Tan

Created by calvintaneng | Apr 27, 2024

Discussions
3 people like this. Showing 18 of 18 comments

greedy44444

Plantation companies needed to pay hefty windfall tax...glove companies only needed to contribute one lump sum to the backdoor gomen.

2020-11-29 21:06

KAQ4468

Bplant & TDM can

2020-11-29 21:08

gemfinder

Sop

2020-11-29 21:10

calvintaneng

Bplant, TDM, WTK, MHC plant, SOP, Chinteck Plant, Rsawit, Cepat, Thplant all are good as well

Th plant already passed the Gold Rule of 2 quarter increasing profits

2020-11-29 21:25

calvintaneng

Windfall tax is 3% for West Malaysia & 1.3% for East Malaysia

Cost of production for CPO varies from Rm1,600 to Rm1,800 a metric tonne

Efficient planters can bring down cost below Rm1,600 to as low as Rm1,200 to Rm1,400

So CPO at Rm3,505 is up a Whopping 94% to 190%

And what is 1.5% to 3% windfall tax in comparison?

2020-11-29 21:29

calvintaneng

SUCH HIGH AND INCREMENTAL PRICES OF CPO BELOW RM2,000 TO RM3,505 MIRRORS GLOVE ASP IN APRIL TO JUNE 2020 WHEN GLOVE BULL JUST STARTED

BUT PALM OIL BULL HAS MERELY DONE WARM - UP ONLY

WHEN SUPERBULL ARRIVES

ALL WHO DOUBT OR HESITATE WILL MISS IT DEARLY

2020-11-29 21:32

GreenTrade

Yeap.
Fgv and Jtiasa is severely undervalued

2020-11-30 10:55

calvintaneng

Very good

Slowly steadily Fgv, Jtiasa and all other palm oil stocks will come into focus

Affin gave Jtiasa target price of Rm1.32

So Jtiasa still has great potential to move higher

2020-11-30 14:08

MF0001

KONFIRM UNDERVALUED~

CALVIN GOR GOR IS THE BEST!

2020-11-30 19:42

calvintaneng

Tyvm Mf0001

You are one of the wise ones

2020-11-30 21:37

calvintaneng

4 stages of a bull market

1. bull market is born during pessimism

2. grows in skepticism

3. matures in optimism

4. dies in euphoria

Medical gloves now at stage 3 to 4
upside now limited to 20% or 30% more only

Palm oil still at stage one or two
Upside will be immense at 100% to 200%

For this reason Calvin is selling gloves into strength and buying palm oil stocks on weakness

2020-12-01 09:49

simon

sifu Calvin, what you mean all 8 nos. gloves stocks are to be sell? no good to keep/hold it ? TQ

2020-12-01 10:38

calvintaneng

Top 8 gloves are ok

Calvin still got glove stocks in Spore

Riverstone
Ug healthcare
Sri Trang Thai

Good stocks should be kept as long as they perform

Only reasons to sell stocks are

1. If the fundamental deteriorates. In this case Top 8 gloves still ok

2. Or you need money. Like buy a property or car. Or need money for children education.

3. The 3rd reason is if you can find another investment giving better returns

2020-12-01 12:44

BATFLY

Calvin...right on the dot on why we sell stock.. A lot of people sell without any basis or direction..

2020-12-01 13:13

calvintaneng

December 1st begins with Fcpo Dec 2020 at new high of Rm3,510

A VERY GOOD START FOR FINAL MONTH OF 2020

CROWNING A PALM OIL BULL RUN

https://www.bursamalaysia.com/market_information/derivatives_prices

2020-12-01 23:22

godhand

hahaha no. nice try

2020-12-01 23:23

calvintaneng

Another day another bull run up for cpo shares

Stay strong in palm oil like buying medical gloves early

Buy and hold tight

Don't trade or do contra

2020-12-02 08:03

calvintaneng

In bull market the best thing to do is buy early

Then sit still and do nothing

Let the power of the bull run

2020-12-02 08:04

Post a Comment