Hello Friends

It is indeed a happy surprise to see Jaya Tiasa aka "Jumping Tiger" (reminds us of the Tiger economies growth phase of Taiwan, Hong Kong, Korea, Japan & Singapore in the 1970s to 2,000)

Jaya Tiasa has seen a jump of 100% profit from sheer hard work

See (Refer to Bursa) Jtiasa Latest Qtr Results

17. 

For the financial quarter under review, the Group recorded a 19% increase in total revenue as a result

of higher contribution from the Oil Palm division. The increase in the sales volume of CPO and PK

by 34% and 37% respectively managed to offset the reduction in the average selling prices of both

CPO and PK.

The Group recorded a profit before tax of RM93 million in the current quarter, up by 100% or

RM46.5 million over the corresponding quarter last year. The improvement in pre-tax profit for the

current quarter was mainly attributable to better profit margin in the Oil Palm division as a result of

36% higher FFB production.

​

Ok

We see profit up by 100% from Rm46.5 millions to Rm93 millions (even though CPO oil prices have gone down from year 2022 Rm5000 to Rm6000 to current Rm3500 to Rm4200 per ton

How come?

See the answer

pre-tax profit for the

current quarter was mainly attributable to better profit margin in the Oil Palm division as a result of

36% higher FFB production.

ATTRIBUTED TO HIGHER FFB PRODUCTION! BY 36%

That's it

Jtiasa BOD & Staff have put in extra time & effort to INCREASE FFB Production; harvesting all available Palm Fruit with increasing hard work & effort.

Well done! Well done!!

Ok now let's go see Balance Sheet

We shall compare previous & current table of content to see clearer

April result for April to June 2023 Qtr

YoY earnings up at 6.21 sen from 4.24 sen

Now if you look at the actual operating income it is only 4.21 sen (the 2 sen profit was only a deferred  tax credit 

Posted by Pinky > 2023-08-24 19:48 | Report Abuse

@Save to answer your question, JTiasa accounts this quarter have a deferred tax CREDIT. See the 2nd part of my example above. It's a REVERSAL credit/income

So last qtr Jtiasa actual operating profit was 4.21 sen

Now see This Latest Qtr result

Earning per share is 6.9 sen (last year qtr only 3.5 sen)

And qtr to qtr up from 4.21 sen to 6.9 se​n (a jump of 63% qtq)

This sets Jtiasa apart from all others in the fast growth category (all by sheer hard work)

Now this let us go see current net debt

Current loan: Rm56,310,000

Non current loan = Rm264,137,000

Total debt = Rm320,447,000

Cash = Rm201,202,000

Investment securities: Rm9,730,000

Other current assets: Rm13,208,000

Total Cash/Cash equivalents = Rm224,140,000

Total debt less cash = Rm96,307,000

Jtiasa debt was over Rm1.4 Billions 5 years ago and now only Rm96.3 Millions

Look carefully again

This Qtr PBT (Profit Before Tax) is Rm93.035 Millions

Than means in just one more qtr good profits Jtiasa will be DEBT FREE

But see more carefully

This latest qtr Jtiasa recorded Cash Expense

CONDENSED STATEMENTS OF CASH FLOW

Cash Flows used in Investing Activities

Acquisition of subsidiaries, net of cash - (52,209) -

Acquisition of property, plant and equipment (11,660) 

Acquisition of biological assets  (6,455)

Jtiasa used Rm52.209 Mil) to by more Palm Oil Investment

Rm11.66 Millions for PPE

Acquisition of biological assets Rm6.455 millions

Total Cash invested = Rm70.324 millions

Suppose Jtiasa has not invested and kept these as Cash

Then debt will be Rm96.307 Mil less Rm70.324 millions

leaving a very small net debt of only Rm26 millions 

However the increased purchase has shown up in NAV now at Rm1.51 per share

Plus look at PPE (Property Plant & Equipment)

It was 

Property, plant and equipment

Rm 1,515,946,000 (current qtr)

Rm 1,450,841,000 (Last year Qtr)

Up by Rm65.105 Millions

All these show ever increasing value building by Jtiasa BOD for Company & Shareholders

Plus take further note

MONTHLY CROP AND LOGS PRODUCTION

​

Latest FFB is 132,551 metric tonnes

See SOP

We submit herewith the SOPB Group's figures for the month of October 2023
M.TONNES
FFB 124,206
CRUDE PALM OIL 39,999
PALM KERNEL 8,982

SOP FFB is 124,206 metric tonnes

THIS CLEARLY SHOWS JTIASA FFB PRODUCTION IS NOW AT ALL TIME HIGH (OVERTAKING SOP)

Jtiasa has 206,000 Acres of Palm oil and 171,000 Acres are now Prime productive age of 14 years (11 more fruitful years of good harvest) before age 25 when it needs replanting

171,000 acres is about 97% of Singapore land size of 177,000 acres

Plus Jtiasa has 1.9 Million acres of forest concession or about 11.5 Times Singapore landmass

So vast are the lands of Jtiasa it needs what?

See

Acquisition and disposal of items of property, plant and equipment by the Group for the current

financial period ended 30 September 2023 is as follows:

Aircraft and Motor vehicle Rm6.593 milions

Jtiasa has a hangar in Airport & it just purchased Aircraft (helicopter?) to oversee its vast lands

With all the above figures do you think Jtiasa's Status at below Rm1.00 is justified

Where can we find such a small cap palm oil stocks with Vast Lands & potential

Now this qtr is 6.9 sen

Annualised 6.9 x 4 

= 27.6 sen

If we assign P/E 5 for Jtiasa it should be worth Rm1.38

If P/E 10 then Rm2.76

If P/E 15 will be Rm4.14

Best Regards & Happy Investing,

Calvin Tan

Please buy/sell after doing your own due diligence or consult your Remisier/Fund manager