THE INVESTMENT APPROACH OF CALVIN TAN
JAYA TIASA (ALWAYS SUCCESSFUL) VERSUS SUBUR TIASA (ALWAYS FERTILE) , Calvin Tan
calvintaneng
Publish date: Mon, 27 Sep 2021, 01:53 PM
calvintaneng
0 1,795
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
Both Jtiasa & Subur Tiasa got the Same Top Owners. Both got Oil Palms & Timber
And both are Turnarounds after years of losses
Now let's look deeper
After long time without news Subur Tiasa was offered at 65 sen for takeover
See
| SUBUR TIASA HOLDINGS BERHAD |
| Type | Announcement |
| Subject | TAKE-OVERS & MERGERS (PARAGRAPH/RULE 9.19 (47A)) |
| Description |
SUBUR TIASA HOLDINGS BERHAD ("STHB" OR "COMPANY")
RECEIPT OF NOTICE OF UNCONDITIONAL MANDATORY TAKE-OVER OFFER FROM KENANGA INVESTMENT BANK BERHAD ON BEHALF OF TIONG TOH SIONG ENTERPRISES SDN BHD ("TTSE" OR "THE OFFEROR") ("OFFER")
|
|
The Board of Directors of STHB (“Board”) wishes to announce that the Board has today received a notice of unconditional mandatory take-over offer (“Notice”) from Kenanga Investment Bank Berhad on behalf of the Offeror to acquire all the remaining ordinary shares in the Company not already held by the Offeror (“Offer Shares”) at a cash consideration of RM0.65 per Offer Share (“Offer Price”).
In addition, the Offeror will also undertake a cash compensation scheme to the shareholders of STHB as at 20 February 2020 who have sold their STHB Shares between 9.00 am on 20 February 2020 and 5.00 pm on 27 August 2021 (“Compensation Period”) with cash compensation equivalent to the differential amount between the Offer Price of RM0.65 per Offer Share and at the price at which their STHB Shares were sold below the Offer Price during the Compensation Period.
The Board other than the interested directors namely Mr. Tiong Kiong King and Dato’ Tiong Ing (“Interested Directors”) who will abstain from deliberating on the Offer, will appoint an independent adviser to advise the Board (other than the Interested Directors) and the holders of the Offer Shares on the Offer. The announcement on the appointment of the independent adviser will be made in due course. |
|
At 65 sen per share when Market open trades were done above 70 sen?
See the comments from Subur Tiasa i3 forum
yip_net Subur boss just offer 65 cts who want to buy?
03/09/2021 10:19 PM
dompeilee dompeilee Bought Subur just now
06/05/2021 3:37 PM
SOLD 70% of my Subur 86-88c just now =D
06/05/2021 3:37 PM
SOLD 70% of my Subur 86-88c just now =D
17/09/2021 9:05 AM
cktay With a total land bank of 13,000 hectares (ha), Subur Tiasa Holdings oil palm plantations are a major part of our strategic business development plans. A breakdown of the current development of our oil palm plantations located in East Malaysia’s Mukah and Kapit is as follows:
1,300ha of Mature Area, 3,100ha of Immature Area, 250ha of Young Palm Area.
Our oil palm estates are located in Sibu, Mukah, Samarahan and Kapit regions with a total land bank of over 44,000 hectares. The weighted average palm age is 8.4 years old. Our oil palm segment is expected to boost its share of contribution to the Group in line with the expansion of matured planted areas and the growth of matured crops from young mature to prime age
As the oil palm continues to mature, its yield increases and reaches peak production in years seven to 18 before gradually decreasing thereafter. The typical commercial lifespan of an oil palm is approximately 25 years.
1,300ha of Mature Area, 3,100ha of Immature Area, 250ha of Young Palm Area.
Our oil palm estates are located in Sibu, Mukah, Samarahan and Kapit regions with a total land bank of over 44,000 hectares. The weighted average palm age is 8.4 years old. Our oil palm segment is expected to boost its share of contribution to the Group in line with the expansion of matured planted areas and the growth of matured crops from young mature to prime age
As the oil palm continues to mature, its yield increases and reaches peak production in years seven to 18 before gradually decreasing thereafter. The typical commercial lifespan of an oil palm is approximately 25 years.
17/09/2021 3:20 PM
Invest_888 short term investors also like this counter.
SUBUR(6904) is the best furniture stock with oil palm estate, it is only 83.5cent. Latest financial quarterly result, EPS= 10.29 cent, NAV= RM3.07.
SUBUR(6904) is the best furniture stock with oil palm estate, it is only 83.5cent. Latest financial quarterly result, EPS= 10.29 cent, NAV= RM3.07.
21/09/2021 9:00 PM
yip_net Subur boss just offer 65 cts who want to buy?
03/09/2021 10:19 PM
dompeilee dompeilee Bought Subur just now
06/05/2021 3:37 PM
SOLD 70% of my Subur 86-88c just now =D
06/05/2021 3:37 PM
SOLD 70% of my Subur 86-88c just now =D
17/09/2021 9:05 AM
cktay With a total land bank of 13,000 hectares (ha), Subur Tiasa Holdings oil palm plantations are a major part of our strategic business development plans. A breakdown of the current development of our oil palm plantations located in East Malaysia’s Mukah and Kapit is as follows:
1,300ha of Mature Area, 3,100ha of Immature Area, 250ha of Young Palm Area.
Our oil palm estates are located in Sibu, Mukah, Samarahan and Kapit regions with a total land bank of over 44,000 hectares. The weighted average palm age is 8.4 years old. Our oil palm segment is expected to boost its share of contribution to the Group in line with the expansion of matured planted areas and the growth of matured crops from young mature to prime age
As the oil palm continues to mature, its yield increases and reaches peak production in years seven to 18 before gradually decreasing thereafter. The typical commercial lifespan of an oil palm is approximately 25 years.
1,300ha of Mature Area, 3,100ha of Immature Area, 250ha of Young Palm Area.
Our oil palm estates are located in Sibu, Mukah, Samarahan and Kapit regions with a total land bank of over 44,000 hectares. The weighted average palm age is 8.4 years old. Our oil palm segment is expected to boost its share of contribution to the Group in line with the expansion of matured planted areas and the growth of matured crops from young mature to prime age
As the oil palm continues to mature, its yield increases and reaches peak production in years seven to 18 before gradually decreasing thereafter. The typical commercial lifespan of an oil palm is approximately 25 years.
17/09/2021 3:20 PM
Invest_888 short term investors also like this counter.
SUBUR(6904) is the best furniture stock with oil palm estate, it is only 83.5cent. Latest financial quarterly result, EPS= 10.29 cent, NAV= RM3.07.
SUBUR(6904) is the best furniture stock with oil palm estate, it is only 83.5cent. Latest financial quarterly result, EPS= 10.29 cent, NAV= RM3.07.
21/09/2021 9:00 PM
Ok let's see this comment
cktay With a total land bank of 13,000 hectares (ha), Subur Tiasa Holdings oil palm plantations are a major part of our strategic business development plans. A breakdown of the current development of our oil palm plantations located in East Malaysia’s Mukah and Kapit is as follows:
1,300ha of Mature Area, 3,100ha of Immature Area, 250ha of Young Palm Area.
Our oil palm estates are located in Sibu, Mukah, Samarahan and Kapit regions with a total land bank of over 44,000 hectares. The weighted average palm age is 8.4 years old. Our oil palm segment is expected to boost its share of contribution to the Group in line with the expansion of matured planted areas and the growth of matured crops from young mature to prime age
As the oil palm continues to mature, its yield increases and reaches peak production in years seven to 18 before gradually decreasing thereafter. The typical commercial lifespan of an oil palm is approximately 25 years.
1,300ha of Mature Area, 3,100ha of Immature Area, 250ha of Young Palm Area.
Our oil palm estates are located in Sibu, Mukah, Samarahan and Kapit regions with a total land bank of over 44,000 hectares. The weighted average palm age is 8.4 years old. Our oil palm segment is expected to boost its share of contribution to the Group in line with the expansion of matured planted areas and the growth of matured crops from young mature to prime age
As the oil palm continues to mature, its yield increases and reaches peak production in years seven to 18 before gradually decreasing thereafter. The typical commercial lifespan of an oil palm is approximately 25 years.
17/09/2021 3:20 PM
From above we know Subur Tiasa has 13,000 hectares of oil palm lands
how many acres?
Multiply 13,000 hectares by 2.471 = 32,123 acres
And from Stock Performance Guide by Dynaquest Writeup Subur Tiasa also got more than 1 Million of Timer Concession lands
But this quarter the result was good solely due to high CPO prices
See
SUMMARY OF KEY FINANCIAL INFORMATION
|
|
INDIVIDUAL PERIOD
|
CUMULATIVE PERIOD
|
||||
|
CURRENT YEAR QUARTER
|
PRECEDING YEAR
CORRESPONDING QUARTER |
CURRENT YEAR TO DATE
|
PRECEDING YEAR
CORRESPONDING PERIOD |
||
|
Three Months
|
Three Months
|
Nine Months
|
Nine Months
|
||
|
01 May 2021
To |
01 May 2020
To |
01 Nov 2020
To |
01 Nov 2019
To |
||
|
31 Jul 2021
|
31 Jul 2020
|
31 Jul 2021
|
31 Jul 2020
|
||
|
$$'000
|
$$'000
|
$$'000
|
$$'000
|
||
| 1 | Revenue |
106,459
|
72,247
|
376,251
|
329,946
|
| 2 | Profit/(loss) before tax |
22,035
|
-11,926
|
40,029
|
-10,784
|
| 3 | Profit/(loss) for the period |
19,237
|
-27,532
|
29,283
|
-25,635
|
| 4 | Profit/(loss) attributable to ordinary equity holders of the parent |
19,368
|
-26,751
|
29,701
|
-25,067
|
| 5 | Basic earnings/(loss) per share (Subunit) |
10.29
|
-14.22
|
15.77
|
-13.33
|
| 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 ($$) |
3.0700
|
2.8700
|
||
A very nice 10.29 sen profit
Next day when market opened Subur was bidded up to the high of 99 sen before resting now at 84.5 sen (far above the take over offer price of 65 sen
Why?
Could be due to two reasons
1) People start to realise that Subur is undervalue
2) Those Earlier Owners are buying up to PREVENT unjust take over at too low a price as they might have bought Subur as high as Rm1.50 in time past
For whatever reason we see Subur won't fall to 65 sen just as it is hard for FGV to fall below Rm1.30 (Felda take over offer)
Now if Subur could do so well what happened to Jaya Tiasa?
It was the premature lock-in sale at low prices that did the damage. You see, most palm oil companies do forward sale They sell from 20% to 30% (up to 50% possible). Jtiasa sold too early & too low early not knowing CPO could cross Rm4,000 to reach the high of Rm4700 a ton
Now in the latest qtr result forward sales have been squared off & no longer will Jtiasa suffer from forward sale impairment
See the turnaround
Jtiasa result
SUMMARY OF KEY FINANCIAL INFORMATION
|
|
INDIVIDUAL PERIOD
|
CUMULATIVE PERIOD
|
||||
|
CURRENT YEAR QUARTER
|
PRECEDING YEAR
CORRESPONDING QUARTER |
CURRENT YEAR TO DATE
|
PRECEDING YEAR
CORRESPONDING PERIOD |
||
|
30 Jun 2021
|
30 Jun 2020
|
30 Jun 2021
|
30 Jun 2020
|
||
|
$$'000
|
$$'000
|
$$'000
|
$$'000
|
||
| 1 | Revenue |
198,900
|
137,863
|
723,405
|
701,883
|
| 2 | Profit/(loss) before tax |
44,948
|
-107,386
|
77,076
|
-129,572
|
| 3 | Profit/(loss) for the period |
18,748
|
-35,071
|
31,329
|
71,950
|
| 4 | Profit/(loss) attributable to ordinary equity holders of the parent |
18,797
|
-34,672
|
31,399
|
-72,092
|
| 5 | Basic earnings/(loss) per share (Subunit) |
1.94
|
-3.58
|
3.24
|
-7.45
|
| 6 | Proposed/Declared dividend per share (Subunit) |
0.00
|
0.00
|
0.00
|
0.00
|
|
AS AT END OF CURRENT QUARTER
|
AS AT PRECEDING FINANCIAL YEAR END
|
||||
| 7 | Net assets per share attributable to ordinary equity holders of the parent ($$) |
1.1800
|
1.1500
|
||
See announcement detail
The current quarter and year-to-date results were affected by the fair value loss on commodity futures
contracts as disclosed in Note 13 of the explanatory notes. The Group had squared off all commodity
futures contracts during the financial year.
The loss was Rm45 millions (About 4.64 sen )
If not latest qtr profit should be 1.94 + 4.64 = 6.58 sen
IF AT 6.58 sen annualised will be
26.32
P/E is only 2.41
IS JTIASA GOING TO SELL AT ONLY 2.4 TIMES EARNING?
YET TO BE SEEN.
NOW FROM HERE WITH COMMODITY FUTURES SQUARED OFF THIS TIME THERE WON'T BE LOSSES LIKE BEFORE
AND JAYA TIASA HAS 206,000 OIL PALM LANDS (MORE THAN 6 TIMES SUBUR TIASA"S)
JTIASA ALSO GOT 1.9 MILLION ACRES OF FOREST CONCESSION LANDS AS WELL
THIS TURNAROUND IS ONLY THE BEGINNING AS WE WILL SEE OIL PALMS AT SUCH LOFTY PRICES WILL SHOW UP GOOD PROFITS JUST LIKE IN SUBUR TIASA WITH COMMODITIES' FUTURE IMPAIRMENT OUT OF THE WAY
THAT IS WHY WE ARE BULLISH ON JAYA TIASA
JAYA TIASA = GIANT TREASURE
Now 63.5 sen
Target prices are 80 sen. Rm1.00 & Rm1.30 in 3, 6 & 9 months time
On condition Cpo prices sustain above Rm3.30 per ton
BEST REGARDS
Calvin Tan
Please buy or sell after doing your own due diligence or consult your remisier/fund manager
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