Dear friends of i3 Forum

Very happy times returning to all Shareholders of Bplant as Rm1.00 has been breached finally with Huge Buying Volumes

See

With 49.3 Million shares done and all taken at Rm1.01 on closing bell is a new found bullishness 

Ok we have heard rumours of YTL, Wilmar, Ioi Corp & KLK being shortlisted to give Offers for Buy over of Boustead's 57% shares of Bplant

Take a look at Bplant Top holders (Refer Bursa Website)

30 LARGEST SHAREHOLDERS

Name of shareholders No. of shares %

1 BOUSTEAD HOLDINGS BERHAD

ACCOUNT NON-TRADING

1,286,135,900........................ 57.42%

2 LEMBAGA TABUNG ANGKATAN TENTERA 237,206,100 

...............................................10.59%

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3 ALLIANCEGROUP NOMINEES (TEMPATAN) SDN BHD

PLEDGED SECURITIES ACCOUNT FOR CHONG YIEW ON (6000006)

20,003,800 0.89

4 LEMBAGA KEMAJUAN TANAH PERSEKUTUAN 12,348,000 0.55

5 AFFIN HWANG NOMINEES (ASING) SDN BHD

EXEMPT AN FOR LEI SHING HONG SECURITIES LIMITED (CLIENT A/C)

11,733,000 0.52

6 LTG DEVELOPMENT SDN BHD 7,700,000 0.34

7 UOB KAY HIAN NOMINEES (TEMPATAN) SDN BHD

EXEMPT AN FOR UOB KAY HIAN PTE LTD (A/C CLIENTS)

7,016,640 0.31

8 CIMSEC NOMINEES (TEMPATAN) SDN BHD

CIMB FOR CHE LODIN BIN WOK KAMARUDDIN (PB)

6,695,000 0.30

To be exact LTAT & BOUSTEAD Hold a Total of 68.01% of Bplant shares

See Total Paid up shares of Bplant

 2,239,999,895 

Yes over 2.239 Billion Bplant shares listed

Now at Rm1.01 today the Actual Cost will be

Rm1.01 X  2,239,999,895 

Rm2.262 Billions Ringgit

Who has Rm2.26 Billions currently?

Of course all 4 YTL, WILMAR, KLK & IOI CORP are Heavy Weights!

YTL just sold its assets in Australia & raised Billions in Cash. Robert Kuok's Wilmar certainly got enough "Fire Power"

KLK Last took over IjmPlant & certainly would love to buy over Bplant assets. IOI Corp?

Aha!

IOI CORP has RAISED CASH HOARD UP TO BILLIONS RM - Standby Ready for Some Acquisition

After all it failed twice. Failed once to Kretam who grabbed Palm oil lands from NPC Corp. Failed again by losing IjmPlant to KLK!

Will IOI CORP failed again? Better not

Bplant is vastly more valuable than all others& IOI CORP has a Unique Edge over all others?

What?

Heard of IOI Properties

More than 30 to 40 years ago long before North South Highway was built we traveled through the local trunk roads of West Malaysia from Selangor to Negeri Sembilan, to Muar & Melaka and then when North South Highway reached Pagoh we traveled through the Coastal lands of Coastal Johor. At almost every turn we SAW "IOI CORP" PALM OIL LANDS!!

And today many of these are turned into thriving housing estates by "IOI PROPERTIES"

So will IOI CORP be interested?

Ok let us go deeper & "SEE" LANDS OWNED BY BPLANT

See it "FIRST HAND" Go look up Bursa Website and See Bplant Annual Report

Then Scroll down to "PROPERTIES OWNED BY BPLANT"

Got it?

Ok let's continue

It is exhaustive 

So we will randomly pick some

1. Example Number One (Lands located in Bukit Mertajam, Penang)

Bukit Mertajam Estate, Kulim. OIl Palm Estate. FREEHOLD. Year of revaluation 2016

2,605.7 hectares.... Price Rm199.7 Millions

Ok now we will do a breakdown to SEE ITS CURRENT VALUE

First convert Hectare to Acres by multiplying with 2.471

So 2,605.7 X 2.471 = 6,438 acres. cost is Rm199.7 Millions

To get cost per acre just divides Rm199,700,000 by 6438

= Rm31,018 per acre in BM or Penang Mainland

To get cost Per Sq Ft Divides Rm31,018 by 43,560

= 71.2 sen psf

So here we SEE Bplant Actual Book Value is only Rm71.2 sen Per Sq Feet for These FREEHOLD Agricultural lands

Now go to PropertyGuru to See Agricultural lands advertised for Sale in BM (Bukit Mertajam)

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Mortgage: RM 73,022 

RM75.69 PSF??    Are you sure?

Must be wrong hor!

See another one

Mortgage: RM 11,401 

RM15.96?

Or more like it.

But see some more?

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Mortgage: RM 6,152 

This one Rm29.79 psf

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Mortgage: RM 15,995 

This one in the Kampung also asking Rm28.18?

Ok we will take the law of average

Add 3 then divide by three to get average

So Rm15.96 + Rm29.79 + Rm28.18

= Rm73.93 for 3 plots

Now divides by 3 to get average

= Rm24.64

Ok we got Rm24.64 psf 

But Book Value why sooooo very low at 71.2 sen PSF???

Now to SEE TOTAL CURRENT VALUE

Rm24.64 X 6438 acres x 43,560 sq ft per acre

= Rm6,910,023,859

Am I seeing it correctly?

RM6.9 BILLIONS??

That's for One piece in BM (Bukit Mertajam) only

Now let's move on

Example Number Two: Total Value of Lands in Sabah state alone.

See the One bought for Rm750 Millions in Sabah

See again

PETALING JAYA: Boustead Plantations Bhd (BPB) has obtained shareholders approval today the purchase of oil palm estates purchase in Sandakan from Dutaland Bhd for RM750 million. 

In a media briefing after the company’s shareholders meeting, BPB vice chairman Tan Sri Lodin Wok Kamaruddin said the 42 contiguous parcels of plantation land in Sandakan, held under Dutaland’s unit Pertama Land & Development Sdn Bhd (PLD), measures a collective 11,579ha.

So BPlant paid Rm750 Millions for 11,579 hectares

Now go check up Total landbanks owned by Bplant in Sabah & Add them all Up

= 46,022.5 hectares (Total Palm oil lands owned by Bplant in Sabah)

Now if 11,579 hectares worth Rm750 Millions

then a simple short cut calculation of total value just based on this old purchase price in year 2008

46,022.5 divides by 11,579 and multiply by Rm750 Millions

= Rm2.98 Billions

That is based on year 2008 prices 5 years ago

What is the current value now?

We can see TSH's Land sale for comparison

See

KUALA LUMPUR (July 6): TSH Resources Bhd (TSH) announced that it plans to dispose of two oil palm estates and one palm oil mill in Sabah for a total cash consideration of RM248 million.  

The group is selling the assets to oil palm plantation firm Sharikat Keratong Sdn Bhd, according to its Bursa Malaysia filing.   

“The board has considered that as the value of the disposal properties have appreciated over the years, TSH is in a position to realise the significant gain in value through the proposed disposal.“It also  provides an opportunity for TSH Group to unlock and realise the value of its investments in the disposal properties. The cash generated will enable TSH Group to pare down its existing borrowings,” TSH said.  

It said it would be able to save significant capital expenditure for land clearing and replanting in the coming years, as a significant portion of the estates are due for replanting. 

The proposed disposal entails three transactions, with the first involving 2,489 acres of oil palm plantation land, known as Ladang Gomantong, for a cash consideration of RM76 million. 

Another transaction worth RM152 million involves the disposal of the oil palm plantation land measuring 4,942 acres, known as Ladang Ong Yah Ho, 

OK from here we see TSH sold 2,489 acres + 4,942 acres = 7431 acres for Rm248 Millions

To get cost per acre divides price by acres

= Rm33,373 per acre

How much was Bplant cost of purchase from Dutaland

Rm750 Millions for 11,579 hectares or 28,611.7 acres

to get cost divides price by land

= Rm26,213

So Price of lands in open transacted market value  have gone up from Rm26,213 to Rm33.373 Millions

With rise of NUSANTARA South of Sabah & the Pan Borneo Highway reaching Sabah do you think land prices will remain at Rm2.98 Billions for Bplant's Sabah estates

So we now just add these two

Rm6.9 BILLIONS + Rm2.98 BILIONS

= Rm9.88 BILLIONS

Only these two examples almost Rm10 BILLIONS WORTH

We have yet to include Sarawak, Kulim, Kedah, Kemaman in Trengganu, Kelantan, N Sembilan, Selangor, Pahang, Johor, Perak & other prime lands (Will they reach Rm20 Billions to Rm30 Billions or even more than that? Astounding figures. Quite mind blowing)

That will be another day Ok

Kindest regards

Calvin Tan

Please buy or sell after doing your own due diligence or consult your Fund Manager, Real Estate Valuer & Other Land experts

OK:

If Assets Valued at Rm10 Billion with 2.24 Billion shares a simple calculation for Bplant would be worth

Rm4.46

If Rm20 Billions then it will be Rm8.92

If Rm30 Billions then Rm13.38