Dear friends of i3 Forum (Please read to the finish as we type now)
TSH latest Balance Sheet throws up excellent & healthy results. Like someone going for hospital examination and then given a clean bill of health
OK Let's Go SEE
Refer to TSH Bursa Webpage
SUMMARY OF KEY FINANCIAL INFORMATION
30 Jun 2023
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Jun 2023
30 Jun 2022
30 Jun 2023
30 Jun 2022
$$'000
$$'000
$$'000
$$'000
1
Revenue
256,570
424,413
506,868
761,762
2
Profit/(loss) before tax
27,503
80,467
81,728
196,315
3
Profit/(loss) for the period
16,580
71,165
54,513
177,864
4
Profit/(loss) attributable to ordinary equity holders of the parent
10,562
57,335
39,990
153,810
5
Basic earnings/(loss) per share (Subunit)
0.77
4.15
2.90
11.14
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 ($$)
1.5129
1.3772
What did you SEE above?
Tsh only made a small
0.77 sen profit?
So careless perusal?
OK See Again
SUMMARY OF KEY FINANCIAL INFORMATION
30 Jun 2023
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Jun 2023
30 Jun 2022
30 Jun 2023
30 Jun 2022
$$'000
$$'000
$$'000
$$'000
1
Revenue
256,570
424,413
506,868
761,762
2
Profit/(loss) before tax
27,503
80,467
81,728
196,315
3
Profit/(loss) for the period
16,580
71,165
54,513
177,864
4
Profit/(loss) attributable to ordinary equity holders of the parent
10,562
57,335
39,990
153,810
5
Basic earnings/(loss) per share (Subunit)
0.77
4.15
2.90
11.14
6
Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00
AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinaryequity holders of the parent ($$)
1.5129
1.3772
OK what else you "SEE" Now?
See This
Net assets per share attributable to ordinaryequity holders of the parent ($$)
Rm1.5129
Missed?
Then see Again one more time!
Rm1.5129
YES!! NTA up by 14 sen from Rm1.37 to new high of Rm1.51
Although TSH did not register actual Cash Profit ITS ASSETS HAVE INCREASED
To understand see this below
See the picture above
What is seen above ground are green leaves
But what about the potatoes hidden in the soil?
THAT'S IT
THE HIDDEN GROWTH OF TSH IS IN ITS NTA. Was Rm1.37 & Now Rm1.51
One day the Assets hidden can come to light
See below
ONE FINE DAY WHEN TSH STARTS TO SELL ITS HIDDEN ASSETS (ESP THOSE GOLD MINE LANDS IN NUSANTARA) ALL WILL BE HAPPILY SMILING
Don't need to wait that long. Go see Bplant how people are rejoicing because Bplant going to jump from 64 sen to Rm1.55 all because KLK is buying and digging up Bplant's Value for all to see
Now let us go into TSH balance sheet & SEE
Revenue
256,570
Even after disposing 40,000 acres of palm oil lands TSH latest Qtr registered a revenue of Rm256 Millions just one qtr
Annualised it will be over Rm1 Billions in Revenue. Not bad at all.
PPE up from Rm1.256 billions to Rm1.333 billions
SO TSH used extra Rm77 Millions buying PPE (Property/Parts/Equipment
No wonder. TSH has used Rm77 millions to increase its Assets from Rm1.37 to Rm1.51 (now you know)?
Tsh non current & current debt is Rm380 Millions
Now see Cash TSH got
It has Rm261.3 Millions Cash in Bank
Rm28.345 millions invested in "Investment securities)
See TSH is pro-actively trying to increase VALUE FOR SHAREHOLDERS!
Current Assets Rm10.148 Millions which is liquid
Short Term fundsRm5.2 millions
(how come TSH got monies all over the place?"
All in total cash or cash equivalent is Rm304 Millions
Now debt Rm380 Millions less cash Rm304 Millions
Debt has further shrunk to only Rm76 Millions
Well done!
Now remember TSH PPE used another Rm77 Millions
If TSH should have just keep the Rm77 Millions as Cash then it will by PLUS Rm1 Millions
Yes! The figures tell us TSH is now very fit and healthy
Also these two are Assets or CASH in solidification
1) TSH has 105 Million shares In INNO worth Rm136.5 Millions
2) It has 50/50 JV in Sabah Refinery with Wilmar in Sabah worth another Rm100 Millions
PLUS EXTRA!
Rm273 Millions from Bulugan land sold (part two) on the way
All in all TSH got spare Cash/Assets worth Rm509 Millions.
No wonder TSH Management is sanguine
See
3. Commentary on the prospects
CPO price has been trending sideway recently hovering around RM3,700 per MT amidst the
surge in export and widening of discount with soybean oil due to discruption of supply of
sunoil and temporary production setback in soybean oil. However, the upside support was
neutralised by the forecasted rise in the CPO inventories.
The Group expects the uncertainties regarding the demand and supply condition due to weather
phenomenon, export outlook for India and China and geopolitic tensions to continue influencing
the direction of CPO price for the remaining months of 2023.
Notwithstanding the uncertainty in the near term CPO price outlook, the Group remains
optimistic on the long term prospect of the palm oil industry. Underpinned by its strong
financial position, the Group will strive to progressively increase the planted hectarage to
maintain production growth. Palm products segment will remain the core contributor to the
Group.Barring any unforeseen circumstances, the Group is optimistic of achieving satisfactory
performance for year 2023.
Read again
1),the Group remains
optimistic on the long term prospect of the palm oil industry.
TSH IS OPTIMISTIC!
2.) Underpinned by its strong
financial position
TSH HAS STRONG FINANCIAL POSITION!!
3.) Barring any unforeseen circumstances, the Group is optimistic of achieving satisfactory
performance for year 2023.
TSH IS OPTIMISTIC OF ACHIEVING SATISTISFACTORY PERFORMANCE FOR YEAR 2023
WELL DONE! WELL DONE!!
With Kind Regards
Calvin Tan
Please buy or sell after doing your own due diligence or consult your Remisier/Fund Manager
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
