Dear friends of i3 Forum
As the Title goes : TSH At Rm1.07 Versus Dlady at Rm27.10 (Compare & Contrast Their Future Potential
We are forward looking and as such we take a peak into their present status to forecast their coming future
Not long ago we also posted IjmPlant versus Hartalega
See
SUMMARY OF KEY FINANCIAL INFORMATION31 Dec 2022 |
INDIVIDUAL PERIOD | CUMULATIVE PERIOD | ||||
CURRENT YEAR QUARTER | PRECEDING YEAR CORRESPONDING QUARTER | CURRENT YEAR TO DATE | PRECEDING YEAR CORRESPONDING PERIOD | ||
31 Dec 2022 | 31 Dec 2021 | 31 Dec 2022 | 31 Dec 2021 | ||
$$'000 | $$'000 | $$'000 | $$'000 | ||
1 | Revenue | 283,384 | 328,350 | 1,307,798 | 1,188,919 |
2 | Profit/(loss) before tax | 66,280 | 84,703 | 557,036 | 254,084 |
3 | Profit/(loss) for the period | 51,962 | 73,591 | 526,271 | 202,013 |
4 | Profit/(loss) attributable to ordinary equity holders of the parent | 45,257 | 63,839 | 457,497 | 169,415 |
5 | Basic earnings/(loss) per share (Subunit) | 3.28 | 4.63 | 33.15 | 12.27 |
6 | Proposed/Declared dividend per share (Subunit) | 2.50 | 3.00 | 10.50 | 3.00 |
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 ($$) | 1.3780 | 1.1892 |
At Rm1.07 TSH is selling at below its NAv of Rm1.378
Now go deeper
Cash and bank balances Rm375,582,000
Cash is Rm375.582 Millions
Loans and Borrowings Rm394,251,000 (current)
Loans and Borrowings 164,860,000 (non current)
Trade and other receivables Rm42,569,000
Inventories Rm132,921,000
Trade and other payables Rm138,905,000
(Inventories and receivables more than payables)
Cash less total loan = Rm375.5 Millions less Rm559 million
= leaving a debt of Rm183 Millions
The accounts were until 31 Dec 2022
Now look at Jan 2023 entry (refer Bursa please)
TSH RESOURCES BERHAD |
Type | Announcement |
Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
Description | TSH RESOURCES BERHAD ("TSH" OR THE "COMPANY") |
Unless otherwise defined, all terms used in this announcement shall have the same meanings as defined in the announcements dated 10 December 2021, 7 February 2022, 8 March 2022, 4 April 2022, 7 June 2022, 29 June 2022 and 9 August 2022 in relation to the Proposed Disposal.
On behalf of the Board of Directors of TSH, RHB Investment Bank wishes to announce that all the conditions precedent in relation to the CSPA in respect of 574.56 hectares of the Uncertified Land have been fulfilled or waived as at 18 January 2023.
In addition, we wish to announce that the disposal for the 574.56 hectares of the Uncertified Land has also been completed on even date following the receipt of the total compensation in respect of the 574.56 hectares of the Uncertified Land from the Buyers.
The announcement is dated 18 January 2023. |
Read again
In addition, we wish to announce that the disposal for the 574.56 hectares of the Uncertified Land has also been completed on even date following the receipt of the total compensation in respect of the 574.56 hectares of the Uncertified Land from the Buyers.
The announcement is dated 18 January 2023.
Read one more time
on even date following the receipt of the total compensation in respect of the 574.56 hectares of the Uncertified Land from the Buyers.
In other words the balance sum of Rm302 Milions Cash has come in by Jan 18 2023
Now Cash Rm302 million less residual debt left over of year 2022 Rm183 million
= RM119 MILLIONS (NET CASH)
No wonder TSH is sanguine and lately started to pay out better dividends
See
23-Nov-2022 | 07-Dec-2022 | DIVIDEND | First Interim Dividend | RM 0.0800 | |
24-Feb-2022 | 30-Mar-2022 | DIVIDEND | Interim Dividend | RM 0.0300 | |
25-Feb-2021 | 12-Mar-2021 | DIVIDEND | Interim Dividend | RM 0.0150 | |
02-Jul-2020 | 03-Aug-2020 | DIVIDEND | First and Final Dividend | RM 0.0100 | |
06-May-2019 | 28-May-2019 | DIVIDEND | First and Final Dividend | RM 0.01 | |
29-Apr-2019 | 28-May-2019 | DIVIDEND | First and Final Dividend | RM 0.01 | |
24-Apr-2018 | 23-May-2018 | DIVIDEND | First and Final Dividend | RM 0.02 | |
27-Apr-2017 | 24-May-2017 | DIVIDEND | First and Final Dividend | RM 0.02 |
DIVIDEND HAS RISEN TO 8 SEN CASH PER SHARE
Now look at Dlady (Refer Bursa Website)
SUMMARY OF KEY FINANCIAL INFORMATION31 Dec 2022 |
INDIVIDUAL PERIOD | CUMULATIVE PERIOD | ||||
CURRENT YEAR QUARTER | PRECEDING YEAR CORRESPONDING QUARTER | CURRENT YEAR TO DATE | PRECEDING YEAR CORRESPONDING PERIOD | ||
31 Dec 2022 | 31 Dec 2021 | 31 Dec 2022 | 31 Dec 2021 | ||
$$'000 | $$'000 | $$'000 | $$'000 | ||
1 | Revenue | 361,687 | 300,396 | 1,339,410 | 1,133,733 |
2 | Profit/(loss) before tax | -32,769 | 197,851 | 54,559 | 284,525 |
3 | Profit/(loss) for the period | -20,233 | 183,458 | 46,271 | 248,000 |
4 | Profit/(loss) attributable to ordinary equity holders of the parent | -20,233 | 183,458 | 46,271 | 248,000 |
5 | Basic earnings/(loss) per share (Subunit) | -31.60 | 286.70 | 72.30 | 387.50 |
6 | Proposed/Declared dividend per share (Subunit) | 0.00 | 0.00 | 0.00 | 0.00 |
AS AT END OF CURRENT QUARTER | AS AT PRECEDING FINANCIAL YEAR END | ||||
7 | Net assets per share attributable to ordinary equity holders of the parent ($$) | 6.2000 | 5.9800 |
At Rm27.10 with NAV only Rm6.20 Dlady is selling far above its Book Value
And this qtr made a loss of 31.60 sen
Now go see its balance sheet
Cash and cash equivalents Cash and cash equivalents Rm104,941,000
Cash about Rm104.9 Milions
Trade and other payables Trade and other payables Rm413,688,000 (Was Rm 282,795,000)
de and other receivables Trade and other receivables Rm97,708,000
Trade debt to pay
Rm413,688,000 less trade cash to be received Rm97,708,000
= Rm315.9 Millions to Pay
Now after less cash of Rm104.9 Millions
There is a Shortfall of Rm211 Milions
Dlady is now facing Cash Crunch
No wonder it has been cutting and cutting its dividends
See
15-Nov-2022 | 29-Nov-2022 | DIVIDEND | Second Interim Dividend | RM 0.2500 | |
24-May-2022 | 08-Jun-2022 | DIVIDEND | First Interim Dividend | RM 0.2500 | |
25-Nov-2021 | 09-Dec-2021 | DIVIDEND | Second Interim Dividend | RM 0.2500 | |
24-May-2021 | 10-Jun-2021 | DIVIDEND | First Interim Dividend | RM 0.2500 | |
26-Nov-2020 | 11-Dec-2020 | DIVIDEND | Second Interim Dividend | RM 0.4000 | |
26-Jun-2020 | 10-Jul-2020 | DIVIDEND | First Interim Dividend | RM 0.4000 | |
28-Nov-2019 | 12-Dec-2019 | DIVIDEND | Interim Dividend | RM 0.5 | |
29-Apr-2019 | 10-May-2019 | DIVIDEND | Interim Dividend | RM 0.5 | |
27-Nov-2018 | 10-Dec-2018 | DIVIDEND | Interim Dividend | RM 0.9 | |
27-Feb-2018 | 02-May-2018 | DIVIDEND | Interim Dividend | RM 1.1 | |
28-Nov-2017 | 13-Dec-2017 | DIVIDEND | Interim Dividend | RM 1.1 | |
27-Apr-2017 | 11-May-2017 | DIVIDEND | Special Dividend | RM 0.6 | |
28-Feb-2017 | 29-Mar-2017 | DIVIDEND | Interim Dividend | RM 1.1 | |
29-Nov-2016 | 13-Dec-2016 | DIVIDEND | Interim Dividend | RM 1.1 | |
23-Feb-2016 | 26-Apr-2016 | DIVIDEND | Interim Dividend | RM 1.1000 | |
17-Nov-2015 | 01-Dec-2015 | DIVIDEND | Interim Dividend | RM 1.1000 | |
24-Feb-2015 | 24-Apr-2015 | DIVIDEND | Interim Dividend | RM 1.1 | |
25-Nov-2014 | 10-Dec-2014 | DIVIDEND | Interim Dividend | RM 1.1 | |
25-Feb-2014 | 25-Apr-2014 | DIVIDEND | Interim Dividend | RM 1.1 |
In Good Years of 2014 & 2015 Dlady gave out Rm2.20 dividend
After that it was downhill all the way to
Rm1.00 in 2019
Then dropped to only 80 sen in year 2020
Latest its dividend again cut to only 50 sen (year 2021 & 2022)
Year 2023???
No more money left
A possible scenario
Either give PP or Rights Issue to ask for Help
Will Its Lofty Share Price be Justified?
Please do your own due Investigation And Shut your ears to all the noise
Look at the facts soberly
Warm regards
Calvin Tan
Please buy/sell after doing your own due diligence or in doubt consult your Remisier/Fund Manager
​
I STUDY THE NUMBERS
-----John Neff
​
Created by calvintaneng | Apr 07, 2023
Created by calvintaneng | Mar 31, 2023
Created by calvintaneng | Mar 25, 2023
Created by calvintaneng | Mar 11, 2023
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Dutch Lady
Year Price range (LPr - HPr)
2002 3.85 - 8.35
2007 10.00 - 13.30
2012 23.40 - 37.80
2017 54.00 - 62.00
2022 30.00 - 34.60
2023 25.80 - 30.30
Year Dividends (sens)
2002 5.8
2003 12.8
2004 56
2005 63.2
2006 63.2
2007 63.2
2008 42.1
2009 65.6
2010 72.5
2011 72.5
2012 260
2013 260
2014 220
2015 220
2016 220
2017 280
2018 200
2019 100
2020 80
2021 50
2022 50
Total Dividends paid out from 2002 to 2022 = 2456.9 sen = RM 24.569
3 weeks ago
I think u cannot get it wrong if u accumulate TSH at Rm 1.07 & below mah!
There is alot of value at this price to justify investment mah!
3 weeks ago
calvintaneng
IJMPLANT (2216) Rm1.86 Versus HARTALEGA GLOVE (5186) Rm9.98 COMPARE & CONTRAST THEIR PROSPECTS, Calvin Tan Research
https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2021-05-05-story-h1564289753-IJMPLANT_2216_Rm1_86_Versus_HARTALEGA_GLOVE_5186_Rm99_80_COMPARE_CONTRA
2 months ago