THE INVESTMENT APPROACH OF CALVIN TAN
RESULTS OF PALM OIL COMPANIES SHOW WIDE CONTRAST BETWEEN UPSTREAM & DOWNSTREAMS, Calvin Tan
calvintaneng
Publish date: Sat, 24 Feb 2024, 05:07 PM
calvintaneng
0 1,791
Hi Guys,
I have An Investment Approach I which I would like to all.
I have An Investment Approach I which I would like to all.
Dear Friends of i3 Forum
Results of KLK, SIME DARBY PLANT IN DOWNSTREAM & INNOPRISE PLANT & FAR EAST IN UPSTREAM SHOW CONTRASTING RESULTS
ONE IS FARING POORLY WHILE THE OTHER IS THRIVING
SO RESERCH HOUSE & MEDIA SHOULD NOT LUMP ALL PALM OIL COMPANIES THE SAME.
BECAUSE THEY ARE NOT ALL THE SAME
See this
YES! LET US STUDY THE NUMBERS!!
1) KLK
SUMMARY OF KEY FINANCIAL INFORMATION31 Dec 2023 |
| INDIVIDUAL PERIOD | CUMULATIVE PERIOD | ||||
| CURRENT YEAR QUARTER | PRECEDING YEAR CORRESPONDING QUARTER | CURRENT YEAR TO DATE | PRECEDING YEAR CORRESPONDING PERIOD | ||
| 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | ||
| $$'000 | $$'000 | $$'000 | $$'000 | ||
| 1 | Revenue | 5,636,052 | 6,707,722 | 5,636,052 | 6,707,722 |
| 2 | Profit/(loss) before tax | 366,157 | 595,378 | 366,157 | 595,378 |
| 3 | Profit/(loss) for the period | 264,902 | 482,819 | 264,902 | 482,819 |
| 4 | Profit/(loss) attributable to ordinary equity holders of the parent | 226,942 | 443,039 | 226,942 | 443,039 |
| 5 | Basic earnings/(loss) per share (Subunit) | 21.00 | 41.10 | 21.00 | 41.10 |
| 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 ($$) | 13.1200 | 13.2800 | ||
KLK YoY has dropped from 41.10 sen to 21 sen
A drop of 48.9%
A drop due to High FFB & Cpo feedcost
They paid high prices for CPO to process into Cooking oil, soap & others
So we avoid KLK in times of High FFB & Cpo prices
2. BATU KAWAN
SUMMARY OF KEY FINANCIAL INFORMATION31 Dec 2023 |
| INDIVIDUAL PERIOD | CUMULATIVE PERIOD | ||||
| CURRENT YEAR QUARTER | PRECEDING YEAR CORRESPONDING QUARTER | CURRENT YEAR TO DATE | PRECEDING YEAR CORRESPONDING PERIOD | ||
| 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | ||
| $$'000 | $$'000 | $$'000 | $$'000 | ||
| 1 | Revenue | 5,832,503 | 6,988,313 | 5,832,503 | 6,988,313 |
| 2 | Profit/(loss) before tax | 389,829 | 633,021 | 389,829 | 633,021 |
| 3 | Profit/(loss) for the period | 269,336 | 507,397 | 269,336 | 507,397 |
| 4 | Profit/(loss) attributable to ordinary equity holders of the parent | 111,736 | 235,304 | 111,736 | 235,304 |
| 5 | Basic earnings/(loss) per share (Subunit) | 28.40 | 59.80 | 28.40 | 59.80 |
| 6 | Proposed/Declared dividend per share (Subunit) | 0.00 | 0.00 | 0.00 | 0.00 |
| AS AT END OF CURRENT QUARTER | AS AT PRECEDING FINANCIAL YEAR END | ||||
| 7 | Net assets per share attributable to ordinary equity holders of the parent ($$) | 19.9085 | 19.9652 | ||
PROFIT DROPPED FROM 59.80 TO 28.40 SEN
DROPPED 52.5%
SINCE BATU KAWAN IS A PROXY TO KLK IT ALSO FELL IN EARNINGS
AS SUCH WE AVOID DOWNSTREAM
MEDIA OF COURSE ONLY TOOK NOTICE OF DOWNSTREAM BUT FAILED TO NOTICE UPSTREAM WHICH IS DOING FINE
INNOPRISE PLANT
SUMMARY OF KEY FINANCIAL INFORMATION31 Dec 2023 |
| INDIVIDUAL PERIOD | CUMULATIVE PERIOD | ||||
| CURRENT YEAR QUARTER | PRECEDING YEAR CORRESPONDING QUARTER | CURRENT YEAR TO DATE | PRECEDING YEAR CORRESPONDING PERIOD | ||
| 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | ||
| $$'000 | $$'000 | $$'000 | $$'000 | ||
| 1 | Revenue | 63,275 | 56,418 | 227,133 | 269,198 |
| 2 | Profit/(loss) before tax | 21,574 | 13,234 | 69,081 | 111,182 |
| 3 | Profit/(loss) for the period | 16,632 | 9,643 | 53,463 | 82,624 |
| 4 | Profit/(loss) attributable to ordinary equity holders of the parent | 16,632 | 9,643 | 53,463 | 82,624 |
| 5 | Basic earnings/(loss) per share (Subunit) | 3.47 | 2.01 | 11.16 | 17.25 |
| 6 | Proposed/Declared dividend per share (Subunit) | 3.00 | 2.50 | 10.00 | 18.50 |
| 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 ($$) | 0.6500 | 0.6300 | ||
INNO YoY JUMPED FROM 2.01 SEN TO 3.47 SEN
UP 72%
DIVIDEND ALSO INCREASED TO 3 SEN
4. FAR EAST
SUMMARY OF KEY FINANCIAL INFORMATION31 Dec 2023 |
| INDIVIDUAL PERIOD | CUMULATIVE PERIOD | ||||
| CURRENT YEAR QUARTER | PRECEDING YEAR CORRESPONDING QUARTER | CURRENT YEAR TO DATE | PRECEDING YEAR CORRESPONDING PERIOD | ||
| 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | ||
| $$'000 | $$'000 | $$'000 | $$'000 | ||
| 1 | Revenue | 190,289 | 167,252 | 542,359 | 785,657 |
| 2 | Profit/(loss) before tax | 60,453 | 32,719 | 130,138 | 274,686 |
| 3 | Profit/(loss) for the period | 52,192 | 27,586 | 106,091 | 227,914 |
| 4 | Profit/(loss) attributable to ordinary equity holders of the parent | 45,859 | 26,892 | 99,185 | 217,268 |
| 5 | Basic earnings/(loss) per share (Subunit) | 7.72 | 4.53 | 16.70 | 36.59 |
| 6 | Proposed/Declared dividend per share (Subunit) | 5.00 | 8.00 | 15.00 | 16.00 |
| AS AT END OF CURRENT QUARTER | AS AT PRECEDING FINANCIAL YEAR END | ||||
| 7 | Net assets per share attributable to ordinary equity holders of the parent ($$) | 2.3300 | 2.3100 | ||
FAR EAST PROFIT JUMPED FROM 4.53 SEN TO 7.72 SEN
OR UP 70.4%
FROM HERE WE SEE THE STARK DIFFERENCE BETWEEN PURE UPSTREAM DOING FANTASTIC COMPARED TO DOWNSTREAM BEING MEDIOCRE
SO THE VERDICT
GO FOR PURE UPSTREAM LIKE JAYA TIASA, THPLANT, TSH RESOURCES, HS PLANT, IJM PLANT, BPLANT, TAANN & OTHERS
PLEASE BUY OR SELL AFTER DOING YOUR OWN DUE DILIGENCE OR CONSULT YOUR REMISIER/FUND MANAGER
REGARDS
Calvin Tan
More articles on THE INVESTMENT APPROACH OF CALVIN TAN
Rimbunan Sawit to beef up crop production and yield, By JACK WONG (Calvin Tan comments)
Created by calvintaneng | Apr 06, 2024
Discussions
1 person likes this. Showing 7 of 7 comments
Fabien _the efficient capital allocator
How to explain TSH results dropping by 44%? Next week UP results will surprise you.
2 months ago
Tsh sold two plots of lands to reduce debts
1. 2 estates in Sabah to raise Rm248 millions cash (About 8,000 acre )
2. sold Bulugan lands (about 32,000 acres) to raise Rm731.09 millions
about 40,000 acres were sold and will get about Rm18 billions cash
currently Bulugan land still got Rm273 million cash pending
what is the current status
While lands are sold in Principe Final Cash of Rm273 millions yet to come in
as a result there is a reduction of Ffb and this qtr reflected it
however things will improve after final cash Rm273'mullions come in to completely clear all remaining debts of Rm18 millions plus and then these will happen
1. Tsh will save at least Rm20 millions or about 1.5 sen from bank interest
2. As a result the balance sheet will improve without further debt load
2. And Tsh being debt free can now increase its dividend payout like Inno
3. Plus there is a possibility Tsh can give a special dividend from the Rm273 millions can to be received
2 months ago
RIMBUNAN SAWIT (5113) THE FOCUS IS ON: ITS DEEPLY UNDERVALUE PALM OIL ASSETS NOW IN HOT DEMAND, Calvin Tan
https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2024-03-14-story-h-186428885-RIMBUNAN_SAWIT_5113_THE_FOCUS_IS_ON_ITS_DEEPLY_UNDERVALUE_PALM_OIL_ASSE
1 month ago
TSH RESOURCES (9059) 2023 ANNUAL REPORT: SHOWS A WONDERFUL COMPANY WITH AMAZING CHANGES, By Calvin Tan
https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2024-04-25-story-h-182876873-TSH_RESOURCES_9059_2023_ANNUAL_REPORT_SHOWS_A_WONDERFUL_COMPANY_WITH_AM
2 days ago
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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....
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