Dear Friends,
Recently Research Houses have been bearish due to the Low Harvest of FFB (Fresh Fruit Bunches) and thought earnings of Palm oil Shares might be just so so
The Surprisingly good results of Simedarby Plant & SwkPlant have proven them to be wrong
Both reported reduced FFB but the Rise of CPO prices from RM4,417 (Last Qtr of 2021) to Rm6,015 (1st Qtr of 2022) up 36% has Over rided & boosted both their Profits to new levels
This evening we will look at these three:
BPLANT, THPLANT & JAYA TIASA & see how they might perform
Please note: This is an estimate only as the Actual Results should be out very soon by just next week
1) BPLANT (Rm1.03)
See last Qtr Results
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 Dec 2021
|
31 Dec 2020
|
31 Dec 2021
|
31 Dec 2020
|
||
$$'000
|
$$'000
|
$$'000
|
$$'000
|
||
1 | Revenue |
341,495
|
227,622
|
1,049,984
|
763,048
|
2 | Profit/(loss) before tax |
137,213
|
49,682
|
344,799
|
83,281
|
3 | Profit/(loss) for the period |
86,478
|
26,549
|
242,455
|
34,382
|
4 | Profit/(loss) attributable to ordinary equity holders of the parent |
85,135
|
27,455
|
241,293
|
42,952
|
5 | Basic earnings/(loss) per share (Subunit) |
3.80
|
1.23
|
10.77
|
1.92
|
6 | Proposed/Declared dividend per share (Subunit) |
4.00
|
0.50
|
8.35
|
1.00
|
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 ($$) |
1.2100
|
1.1500
|
With Rm341 Millions in Revenue Bplant managed to post a profit of 3.80 sen
That was based on Cpo at Rm4,417
This Qtr results will see Cpo prices at Rm6,015 (Up 36%)
Now let's see Bplant Crop production
Total FFB (Oct to Dec 2021) 248,300 tonnes
Total FFB (Jan to March 2022) 195,900 tonnes
So there is a drop of 52,400 tonnes or 21%
Since Cpo price jumped by 36% the overall performance should still be good
More than that
Bplant in Jan 2022 received full payment (Cash) Rm428 Millions from Kulai Young Estate land sale
About 19 sen
So the bottom line of Bplant will show a very good qtr
No wonder that Market has priced Bplant above Thplant & Jaya Tiasa
Plus: Bplant has a dividend policy of paying out 60% from profit
In this case Investors in Bplant can certainly look forward to another generous dividend. Hopefuilly to be announced just next week
2) THPLANT (86.5 sen)
SUMMARY OF KEY FINANCIAL INFORMATION
|
INDIVIDUAL PERIOD
|
CUMULATIVE PERIOD
|
||||
CURRENT YEAR QUARTER
|
PRECEDING YEAR
CORRESPONDING QUARTER |
CURRENT YEAR TO DATE
|
PRECEDING YEAR
CORRESPONDING PERIOD |
||
31 Dec 2021
|
31 Dec 2020
|
31 Dec 2021
|
31 Dec 2020
|
||
$$'000
|
$$'000
|
$$'000
|
$$'000
|
||
1 | Revenue |
247,547
|
144,546
|
760,804
|
555,097
|
2 | Profit/(loss) before tax |
11,235
|
5,743
|
137,869
|
54,462
|
3 | Profit/(loss) for the period |
9,641
|
3,195
|
101,569
|
27,460
|
4 | Profit/(loss) attributable to ordinary equity holders of the parent |
1,828
|
1,593
|
70,166
|
13,991
|
5 | Basic earnings/(loss) per share (Subunit) |
0.21
|
0.18
|
7.94
|
1.58
|
6 | Proposed/Declared dividend per share (Subunit) |
0.00
|
0.00
|
0.00
|
0.00
|
AS AT END OF CURRENT QUARTER
|
AS AT PRECEDING FINANCIAL YEAR END
|
||||
7 | Net assets per share attributable to ordinary equity holders of the parent ($$) |
0.7300
|
0.6600
|
Revenue has improved to Rm247.5 Millions
Profit is a mere 0.21 sen?
No wonder Thplant is priced far lower than both Bplant & Jtiasa
What is wrong with the figures?
Thplant stated biological assets write back or impairrment
Now we already stated that if we take out biological asset mark down Thplant should have reported 7 sen profit
Market can only see apparent figures and so our voice has been negated and Thplant share price trailed Bplant & Jtiasa
Oct to Dec 2021 FFB totalled 181,600 tonnes
Jan to March 2022 FFB totalled 130,330 tonnes
So there is a further drop of 28% QoQ
This caused more dismay to careless reader
Now we think this Qtr without biological impairment Thplant should at least show a 4 to 5 sen profit
Yet to be seen.
3) JAYA TIASA (95 sen)
This is the most popular among all with high beta (In boom years Jtiasa overshot on the upside & in gloom yars Jtiasa overshot on the downside
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 Dec 2021
|
31 Dec 2020
|
31 Dec 2021
|
31 Dec 2020
|
||
$$'000
|
$$'000
|
$$'000
|
$$'000
|
||
1 | Revenue |
239,238
|
151,486
|
385,235
|
372,581
|
2 | Profit/(loss) before tax |
73,899
|
8,578
|
111,022
|
55,574
|
3 | Profit/(loss) for the period |
51,042
|
4,589
|
75,573
|
39,530
|
4 | Profit/(loss) attributable to ordinary equity holders of the parent |
51,074
|
4,633
|
75,644
|
39,477
|
5 | Basic earnings/(loss) per share (Subunit) |
5.28
|
0.48
|
7.81
|
4.08
|
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 ($$) |
1.2500
|
1.1800
|
Revenue was Rm239.2 Millions
Profit is 5.28 sen
This shows Jtiasa has the lowest revenue but the highest profit
This is due to Jtiasa Ms Ngu the Secretary telling us they stopped forward sale
Well done!
Oct to Dec 2021 FFB 202,500 tonnes
Jan to March 2022 FFB 151,100 tonnes
A drop of 25.3%
Again Cpo has gone up by 36%
So if Jaya Tiasa keep still to SPOT Sale then we will see another 5 sen profit (more or less) We think more.
We think Bplant (220,000 Acres oil palms), Thplant (240,000 Acres) & Jtiasa (206,000 Acres) will do extremely well in this Current Palm oil Superbull which will last for several years (don't believe the incessant guessing of IB Banks & the idiotic Media)
They have both been totally wrong since year 2020 to 2021 telling us that Cpo prices cannot sustain above Rm3500 & will fall to Rm2600. And Cpo prices will fall by 2nd half of 2022 (How come being proven wrong time after time still harp on a lie?)
Let us forget them & look forward to THE ONCE A CENTURY PALM OIL SUPER BULL YET UNFOLDING BEFORE OUR EYES
Stay Invested
Our Target Prices for all 3
Rm1.50
Rm2.00
Rm2.50
And higher!
In Bull run Years when Cpo was Rm4,000 Jtiasa crossed Rm3.50, Thplant reached Rm2.45 & Bplant near Rm2.00
Now that Cpo prices are at New World Record of Rm5,000 to Rm7,000
WE EXPECT ALL THREE TO OUTPERFORM!
Best regards
Calvin Tan
Please buy or sell after doing your own due diligence or Consult your Remisier/ Fund Manager
Note:
Current P/E of most Palm oil stocks are between 5 to 9
In boom years of 2006/7 they assigned P/E 25 to Palm oil
See if Market will upgrade Palm oil and rerate them upward just like Research Houses in Singapore have upgraded Wilmar & Bumitama from single digit P/E to double Digit
Created by calvintaneng | Aug 30, 2024
Created by calvintaneng | Aug 30, 2024
Created by calvintaneng | Aug 29, 2024
Created by calvintaneng | Aug 28, 2024
Created by calvintaneng | Aug 23, 2024
Created by calvintaneng | Aug 22, 2024
Correctloh....very good points mah!
Posted by calvintaneng > 10 hours ago | Report Abuse
Note:
Malaysia newspapers and Investment papers should go interview all 42 listed palm oil companies and update their readers as Malaysia is world number two exporter of palm oil
in stead they shout Cpo prices going up next week. Or shout Cpo prices going to go down next week and such other useless information which are totally irrelevant to palm oil investors.
Ffb was Rm300 per ton in bleak times and now Ffb (fresh fruit bunches) have skyrocketed to Rm1500 a ton (up 500%)
so it is just nonsense to say it will drop by few ringgit this week and up a few ringgit next week
As long as Ffb is above Rm1,000 per ton all palm oil co enters Superbull
2022-05-22 08:39
Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥
>>>>>
BPlant
THPlant
Jaya Tiasa
Let us forget them & look forward to THE ONCE A CENTURY PALM OIL SUPER BULL YET UNFOLDING BEFORE OUR EYES
Stay Invested
Our Target Prices for all 3
Rm1.50
Rm2.00
Rm2.50
And higher!
In Bull run Years when Cpo was Rm4,000 Jtiasa crossed Rm3.50, Thplant reached Rm2.45 & Bplant near Rm2.00
Now that Cpo prices are at New World Record of Rm5,000 to Rm7,000
WE EXPECT ALL THREE TO OUTPERFORM!
Best regards
Calvin Tan
>>>>
Was Calvin again too exuberant? Perhaps.
2022-07-06 23:28
calvintaneng
Post removed.Why?
2022-05-21 21:41