calvintaneng

A deeper look will show Jtiasa is almost debt free after paring down it's over Rm1 billions borrowings since 5 years ago

while Ytl power has RM28 BILLIONS DEBT ON ITS BALANCE SHEET

2 months ago

MrFox

TLP Investment Highlights- AmInvestment Bank

We maintain BUY on YTL Power International (YTLP) with an unchanged SOP-based fair value of RM5.10/share. Although we have raised YTLP Seraya’s earnings, our fair value for YTLP is unchanged on lower asset value for Wessex Water due to its losses. Our fair value implies FY25F PE of 13x - at parity to its 2-year average. We ascribe a neutral 3-star ESG rating to YTLP.

YTLP’s 1HFY24 results were 35% above our forecast and 14% above consensus. YTLP exceeded our expectations due to stronger-than-expected earnings from YTLP Seraya in Singapore. We have raised YTLP’s FY24E net profit by 35% to account for this.

YTLP Seraya has been recording a pre-tax profit of RM1bil per quarter in the past 3 quarters. We believe that YTLP Seraya is benefiting from the fall in gas costs and retail contracts, which have locked-in profit margins. YTLP also enjoys stronger contribution from YTLP Seraya as the SGD has been appreciating against MYR. According to Bloomberg, average exchange rate was S$1.00: RM3.45 in 1HFY24 vs. S$1.00: RM3.25 in 1HFY23.

Pre-tax profit of YTLP Seraya in Singapore surged to RM2.1bil in 1HFY24 from RM591.4mil in 1HFY23. Pre-tax profit margin rose to 27.3% in 1HFY24 from 8.6% in 1HFY23.

The water and sewerage division (Wessex Water) swung into a pre-tax loss of RM104.2mil in 1HFY24 in contrast to a pre-tax profit of RM9.3mil in 1HFY23. This was due to higher interest expenses from inflation-linked bonds. On a quarterly basis, pre-tax loss of the division widened to RM69.5mil in 2QFY24 from RM34.8mil in 1QFY24.

Pre-tax losses of the mobile broadband unit (mainly YES network) narrowed to RM137.5mil in 1HFY24 from RM155.9mil in 1HFY23 due to increased billings from various projects such as the construction of base stations.

YTLP is currently trading at an attractive FY25F PE of 10x, which is lower than its 2-year average of 13x.
............................................................

YTLP plus AI Data Centre in collaboration with NVIDIA, FY 25 PE should be at least 18x.



Source: AmInvest Research - 23 Feb 2024

2 months ago

klee

what type of ppl will compare AI DC to oil palm? running out of ideas to promote plantations obviously,kesian
Nvidia rose frm usd 1 to usd 788 now, with AI DC contributing the bulk of its earnings.Show us any plantation co that can gain 788 times la.

2 months ago

ssaw194852

low intelligence comparison

2 months ago

xiaoeh

Posted by ssaw194852 > 30 minutes ago | Report Abuse
low intelligence comparison

Would you mind showing us some high intelligence comparison Ssaw194852?

2 months ago

ssaw194852

Low intelligence comparison Plt versus YTLP
High intelligence comparison YTLP versus Plt

2 months ago

calvintaneng

Don't you know Singapore is moving up to clean green energy from hydro, biofuel and solar in near future and gas fired power plant will be phased out one day in Singapore,?

Last time in Chua Chu Kang and Lim Chu Kang there were pig farms in Singapore. Now no more as they were phased out to Indonesia. So will be gas fired polluting power plants finally phased out
How can a City of so many Billionaires and Multi Millionaires allow pollution? Like fossil power that pollutes?
So Singapore going to get clean energy directly from Sarawak. Abang Jo also asked Singapore to setup Data Centers in Sarawak as well.
Now we see in many Apt flats in Singapore where Ev charger stations have been installed
So like pig farms all future polluting industries will be phased out
Latest news from Singapore. They will impose flying out tax for planes using green biofuel
Biofuel?
It will come from Jtiasa's 206,000 acres of palm oil
Already 171,000 acres of palm oil fully matured
And 171,000 acres is 97% of Singapore landmass of 177,000 acres
Look at the bright biofuel of jtiasa and the sunset industry of fossil fuel just like those dirty pig farms phased out
Who knows?
Singapore might well attract Trillionaires to its Clean Green City State one fine day

2 months ago

calvintaneng

Singapore to impose green fuel levy on flights from 2026

https://www.reuters.com/sustainability/singapore-green-jet-fuel-levy-travellers-ignites-funding-debate-2024-02-19/

Biofuel replacing fossil fuel in Singapore

2 months ago

calvintaneng

Pig farming phased out sets a precedent for all other polluting industries to be phased out eventually

See

“Taking into account the land constraints in Singapore and looking forward, the government said the land was needed for housing, and pigs were causing land and water pollution,” recalled Dr Ngiam Tong Tau, who was Director of Primary Production at that time. “Cabinet then decided that pigs had no place in Singapore, and we had to phase them out.” Forced to confront these environmental and economic trade-offs, the decision to end pig farming was made in 1984, despite rosy production figures.

Read full article

https://www.sfa.gov.sg/food-for-thought/article/detail/journeys-of-transformation-singapore's-pig-farmers-after-pig-farming

2 months ago

Sslee

You cannot phase out power generation and import power from Sarawak. The very simple reason is for national security.

2 months ago

calvintaneng

They will replace fossil fuel with Biofuel

https://www.youtube.com/watch?v=rWZHE466-WY

2 months ago

calvintaneng

Singapore: Bunker sales of biofuels more than tripled in 2023
https://www.offshore-energy.biz/singapore-bunker-sales-of-biofuels-more-than-tripled-in-2023/#:~:text=Singapore%20has%20made%20significant%20progress,Conversations%20event%20held%20last%20week.

2 months ago

Sslee

For those involved with calculating carbon foorprint should know NG are the least in CO2 eq emission compare with biofuel whereby the CPO carbon footprint is high due to CO2 eq emission assigned to land use change

2 months ago

Sslee

If you want a clean fuel then most likely you can use hydropower, solar power or windfarm excess power to produce green hydrogen and then this hydrogen can be piped by NG pipe line to Singapore to run the hydrogen power plant in Singapore.

2 months ago

Goldberg

Extract from Dragons Analysis moving forward for the YTL Group.

Multiple Re-rating Factors for YTL Group of Companies -
-------------------------------------------------------
Despite the latest strong quarterly results and recent stellar share price rally, there are still multiple re-rating factors for YTL group of companies in coming quarters:

A whopping 20 factors and more to come.

1-Continued strong earnings from PowerSeraya contributing >RM700 million net profit every quarter to YTL Power
2-Potential listing of PowerSeraya on SGX, which may potentially fetch a valuation of SGD 8.0 billion
3-Strong rebounds in Wessex earnings after interest rate hike cycle in the UK ends, high inflation starts to cool off and water tariff hike from 1st April 2024
4-Potential listing of Wessex Waters in in 2025-2026 which may fetch a valuation of over RM20 billion
5-Favourable outcome from the international arbitration on Jordan power venture which will enable it to fully realise PPA earnings and shareholders’ loan interest income of RM500-600 million a year
6-Maiden earnings contribution from the first phase of green data centre project with SEA Group from Q3-Q4 FY2024
7-Maiden earnings contribution from the first phase of AI data centre project in collaboration with Nvidia from mid 2024
8-Maiden earnings contribution from the digital bank venture from 2025
9-Potential turnaround of Yes 5G business as early as Q3 FY2024 and decent profit contribution of RM260 million and operating cashflows topping RM1.0 billion a year from 2024 after it secures another 1.0 million 5G subscribers
10-Financial close for the Waste-to-Energy (WTE) power plant project in Rawang
11-Potential securing some of the RE power export to Singapore from 2025-2026
12-Successful commissioning of the new 600MW hydrogen-ready CCGT by PowerSeraya and new profit contribution from this new unit of at least SGD200 million a year from 2028
13-Continued strong earnings and dividend payouts from MCement
14-Potential placement of MCement shares to strategic investors at over RM5.00 per share to improve public spread (YTL owns 78.6%) and to realise cash for YTL
15-Rolling out of mega infrastructure projects in Malaysia and new Indonesia capital city development in Nusantara to boost cement demand
16-Strong rebounds in YTL shopping malls and hotels business division
17-Strong dividend payouts from YTL Power (15-18 sen) and YTL (9.5 sen) from FY2024
18-Potential clinching of MRT3 package by YTL construction arm
19-Potential revival of KL-Singapore High Speed Rail (HSR) project
20-Potential monetisation of assets by YTL – injection of unlisted hotels and shopping malls into the REIT, monetisation of some landbank at Niseko Japan, potential listing of Japan Niseko assets on Japan stock exchange, potential disposal of peripheral assets and land parcels etc.

2 months ago

Goldberg

YTL & YTLPOWR: A Powerhouse Performance - Is This Stock a Must-Have in Your Portfolio?
--------------------------------------------------------------------------------------------
Author: KingKKK | Publish date: Fri, 23 Feb 2024, 7:54 AM

Dragon328 has written a comprehensive article about YTL and YTLPOWR earnings yesterday, the details in the link below.

YTL & YTL Power - Ended Year 2023 with a Bang

I will summarize his article into pointers below:

1. Superb earnings: YTL Power's net profit was RM845 million, a surge by 325% against similar quarter last year. PowerSeraya, Wessex Water, and Jordan Attarat Power were the main profit drivers.

2. YTL Power is worth minimum RM6.30: dragon328 said that It should at least trade at 15x PER or RM6.30 per share to be comparable with Tenaga which has similar profit level of over RM3.0 billion.

3. YTL is worth RM4.00: dragon328 said that it should be trading at PER of about 20x (to be on par with Sunway) or RM4.00.

My view:

1. Agreed, YTL Power and YTL are both undervalued at the current price level. The article by dragon328 is great, and his speed in producing it is superb!

2. After reporting strong earnings, NVIDIA's share price surged by 16%, breaking some world records. Details can be found in the news below:


(NVDA) Nvidia Tops Meta Record With $277 Billion Jump in Value - Bloomberg

I think the price direction will follow NVIDIA's for both YTL and YTLPower.

3. If you think AI and Data Centers are already over just because YTL and YTLPower have increased significantly, you may be assuming that the AI and Data Center businesses have already peaked. This is similar to 30 years ago when Microsoft Office began revolutionizing how computers work; some people were saying, 'Oh, Microsoft's share price has already risen significantly, let's go back to using typewriters.

2 months ago

calvintaneng

John Templeton said

"Bull market is born in pessimism; grows up in skepticism; matures in optimism and dies in euphoria

The best time to buy is during maximum pessimism. And the best time to sell is during market euphoria

99% of the people now aware of Ytl power and upside is now limited

2 months ago

calvintaneng

Ytl power depends on Seraya power plant with Spore small population of 5 million people and water in europe

Jtiasa's market is

1.35 billion people in india
1.4 billion population in China
Many more billion consumers world wide

2 months ago

xiaoeh

Posted by ssaw194852 > 6 hours ago | Report Abuse
Low intelligence comparison Plt versus YTLP
High intelligence comparison YTLP versus Plt

Thanks Ssaw194852
i must admit you are really high intelligence bro

2 months ago

Goldberg

HLIB Price Target : RM 5.55 Maintain BUY

YTLP reported a strong core PATMI of RM850.8m for 2QFY24 (-6.5% QoQ, +1.8x YoY) and RM1.8bn for 1HFY24 (+2.7x YoY), above HLIB FY24 forecast (55.3%) and consensus (61.6%), mainly driven by the sustained strong contribution from SG PowerSeraya, contrary to consensus concerns. We expect another record high FY24 earnings, to be underpinned by continued strong PowerSeraya performance and maiden contribution from Attarat Power. Maintain BUY with a higher

TP: RM5.55 (from RM5.15) based on 10% discount to FD SOP: RM6.16.

2 months ago

Goldberg

Well said Purebull.

Posted by PureBULL ... > Feb 25, 2024 6:50 PM | Report Abuse

NVDA, the most impactful stock in the entire world now.
starring the super taiwankia CEO talent of Stanford.

if NVDA choose u = u r SURE to prosper easily forever MORE.
ytlp's future is bright n wide open...

https://www.tradingview.com/x/8xkid5RF/

mr ng's cousin sister is the CEO of AMD. she, the talent of MIT.
both will fight head ON.,.

https://www.tradingview.com/x/jzVlLoxJ/

our msian best is tan hock.ean of PFS, the oldest school in asean, > 200 yrs.
tan also a top engine talent of MIT n harpor.
His stock AVGO will challenge them 2.

https://www.tradingview.com/x/0IqOA85z/

+++++++++++++++++++++++++++++++++++++
hock.tan was CEO of hume at tender age of 29.
he resigned 3 yrs later = all staff of that banking conglo were shocked n awed = some said hock was seetupeed.

today, hock is richer than tan sri Q.,.

https://www.thestar.com.my/tech/tech-news/2024/02/15/malaysian-born-br...

NB:
pure meaning of, edu can make u RICH,
only happens in North america.,.

2 months ago

chamlo

JTiasa QR still no news because worse QOQ like many CPO counters?

2 months ago

calvintaneng

value_invest

Don’t expect TSH dividend to increase in near future. Even TSH sold some land to clear all the debts, the company is expecting to use the cash and even debts for planting expansion again, which is capex intensive. So there is limited cash for dividend in near future. Dividend will only come in after 7 yrs when the capex is over and the plant tree start producing fruits. This is in the situation when some shouted jtiasa 7 yrs ago (2016, debts 1.3bil) at RM2.50 at the initial planting expansion stage. Now 7 yrs later (2024), jtiasa start to paying off debts and tree producing good fruits. Company will start to pay good dividend coming years with all the free cash. If you are interested in plantation stock, Jtiasa will be prefer pick now, or TSH will be GOOD 7 yrs later in 2031.

1 hour ago


calvintaneng

Value Invest only 50% correct

JAYA TIASA NOW AT STAGE 6


THE 7 PHASES OF A SUCCESSFUL PALM OIL COMPANY, Calvin Tan
https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2023-09-26-story-h-218987595-THE_7_PHASES_OF_A_SUCCESSFUL_PALM_OIL_COMPANY_Calvin_Tan

And TSH is Now at Stage 5 (Not stages 1 -3 where it has no income & high bank loan to service)

TSH already Sold Bulugan lands for Rm731.09 Millions & CASH OF RM465 MILLIONS ALREADY RECEIVED

PLUS IT HAS ONLY ONLY RM17 MILLIONS NET DEBT. ONE MORE QTR RESULT WILL MAKE TSH A NET CASH COMPANY LIKE INNO

SO CASH ALREADY SET ASIDE FOR CAPEX PLUS NO NEED BANK INTEREST EXPENSE TSH FREE CASH FLOW CAN NOW TURN INTO MORE DIVIDEND PAYOUT

PLUS TSH RECEIVES RM3.15 MILLIONS FREE CASH DIVIDEND FROM INNO

ITS LANDS IN IKN NUSANTARA MEANWHILE APPRECIATES UP BY THE MONTH, WEEK, DAY & EVERY SECOND GOING HIGHER AND HIGHER

That is Why TSH is a Different Palm Oil Stock now

1 second ago

2 months ago