THE INVESTMENT APPROACH OF CALVIN TAN
SOP (5126) at Rm3.50 Versus BLD Plant (5069) at Rm9.10 or Versus United Plant (2089) Rm13.60: Compare & Contrast their EPS, Dividend & NTA, Calvin Tan
calvintaneng
Publish date: Tue, 28 Sep 2021, 03:01 PM
calvintaneng
0 1,667
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 (Please read to the end as we type
It is by searching, digging through research & deep study that we find value. Especially hidden Gen of Value. One such Gem is SOP (Sarawak Oil Palm) Why SOP?
The answers are startling
Just see their results below
SOP
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 |
949,046
|
626,060
|
1,737,368
|
1,144,144
|
| 2 | Profit/(loss) before tax |
146,620
|
51,513
|
259,653
|
147,823
|
| 3 | Profit/(loss) for the period |
107,918
|
41,028
|
194,528
|
115,337
|
| 4 | Profit/(loss) attributable to ordinary equity holders of the parent |
98,320
|
38,342
|
177,377
|
109,545
|
| 5 | Basic earnings/(loss) per share (Subunit) |
17.20
|
6.72
|
31.04
|
19.19
|
| 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 ($$) |
4.4800
|
4.1600
|
||
SOP latest result is 17.20 sen
Annualised is 4 X 17.20
= 68.80
At Rm3.50 the Forward P/E is
Rm3.50 divides by 68.80
= 5.08
That means you can double your investment in 5.08 years if earnings are sustained
68.80/Rm3.50 gives a yield of 19.65
More than 10 X (Times) Bank FD at Rm1.75% per year
Its NAV is Rm4.48
So SOP is selling at Discount of 22% to Book Value
It gave a dividend of 6 sen
2) BLD Plant
SUMMARY OF KEY FINANCIAL INFORMATION
|
|
INDIVIDUAL PERIOD
|
CUMULATIVE PERIOD
|
||||
|
CURRENT YEAR QUARTER
|
PRECEDING YEAR
CORRESPONDING QUARTER |
CURRENT YEAR TO DATE
|
PRECEDING YEAR
CORRESPONDING PERIOD |
||
|
30 Jun 2021
|
30 Jun 2020
|
30 Jun 2021
|
30 Jun 2020
|
||
|
$$'000
|
$$'000
|
$$'000
|
$$'000
|
||
| 1 | Revenue |
540,488
|
396,518
|
540,488
|
396,518
|
| 2 | Profit/(loss) before tax |
23,644
|
6,252
|
23,644
|
6,252
|
| 3 | Profit/(loss) for the period |
16,802
|
4,538
|
16,802
|
4,538
|
| 4 | Profit/(loss) attributable to ordinary equity holders of the parent |
16,212
|
4,415
|
16,212
|
4,415
|
| 5 | Basic earnings/(loss) per share (Subunit) |
17.34
|
4.72
|
17.34
|
4.72
|
| 6 | Proposed/Declared dividend per share (Subunit) |
0.00
|
0.00
|
0.00
|
0.00
|
|
AS AT END OF CURRENT QUARTER
|
AS AT PRECEDING FINANCIAL YEAR END
|
||||
| 7 | Net assets per share attributable to ordinary equity holders of the parent ($$) |
6.9500
|
6.7800
|
||
At Rm17.34 this Qtr
Annualised 4 X 17.34 = 69.36 sen
Current price is Rm9.10
P/E is Rm9.10 divides by 69.36
= 13.1
Yield is 69.36/Rm9.10
= 7.6%
NAV is Rm6.95
At Rm9.10 BLD is selling at 1.3 X (Times) Book Value
Dividend
No dividend for years 2019, 2020 & 2021
Last dividend was 3 sen in year 2018
BLD Plant? BLD stands for Breakfast, Lunch & Dinner? Why no dividends for 3 years?
This shows that SOP beats BLD Plant hands down
SOP 19.65% yield versus BLD 13.1 sen
SOP sells at Discount to Book Value While BLD sells above Book Value
3) UNITED PLANT
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 |
481,869
|
294,317
|
881,523
|
613,226
|
| 2 | Profit/(loss) before tax |
186,673
|
149,661
|
278,585
|
267,305
|
| 3 | Profit/(loss) for the period |
136,707
|
124,060
|
212,417
|
205,588
|
| 4 | Profit/(loss) attributable to ordinary equity holders of the parent |
135,785
|
123,586
|
210,610
|
204,776
|
| 5 | Basic earnings/(loss) per share (Subunit) |
32.74
|
29.80
|
50.78
|
49.37
|
| 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 ($$) |
6.1800
|
6.3200
|
||
UPlant this Qtr 32.74
Annualised 4 X 32.74
= Rm1.30
Price Rm13.60
P/E is Rm13.60 divides by Rm1.30
= 10.5
Yield is 9.5%
Of this Uplant gave out 15 sen dividend & 50 sen Special Dividend
Total given out is 4.7%
NAV is Rm6.18
At Rm13.60 Uplant is selling at 2.2 X (Times) Book Value
Now the only thing between SOP is SOP won in earnings & Net Assets Value
But UPlant won in Dividend Payout
SOP Could raise its Dividend Payout & Price should rise Above its NAV
From here we SEE Earnings of SOP are Superior and It is selling at Discount to Net Assets while BLD Plant & UPlant are selling above Book Value
AND WE CAN SEE VERY CLEARLY SOP IS AN OUTRIGHT BUY AS IT IS NOW SELLING BELOW INTRINSIC VALUE.
Best regards
Calvin Tan
Please buy or sell after doing your own due diligence or consult your remisier/fund manager
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calvintaneng
Coming Up Part 2 on SOP Versus Bld Plant & Uplant
Their OIl Palm Size & Its Growth Potential
2021-09-28 15:41