THE INVESTMENT APPROACH OF CALVIN TAN

RSAWIT (5113) A Palm Oil Turnaround Due to High Cpo over Rm4,100 MT Plus Very Very Undervalue Assets that are Easy to Liquidate for High Profits, Calvin Tan

calvintaneng
Publish date: Wed, 13 Mar 2024, 10:01 PM
calvintaneng
0 1,809
Hi Guys,

I have An Investment Approach I which I would like to all.

Dear friends of i3 Forum


In year 2021 Eagle Group selected Top 10 Palm Oil Stocks out of 43 in KLSE

And these are the Ones


See


Reposted Article: OIL PALM STOCKS IN Bull Run Time: Those Prepared with Biggest Capacity Will Always Excel More Than Others, Calvin Tan

Publish date: Thu,, 04 Nov 2021 11:29 PM


Small Palm OIl Stocks can only carry few people like a Sampan boat (Maybe 10,000 Acres To 20,000  Acres Oil Palms) 

Sampan boat ride in the Mekong Delta | Amanda | Flickr

 

 

 

PENANG FERRY FOR VEHICLES/PASSENGER (So Are Palm Oil Stocks with Medium Sized Plantations) From 50,000 acres to 80,000 acres Oil Palms

PENANG FERRY Photography on Behance

 

1,000+ Penang Ferry Stock Photos, Pictures & Royalty-Free ...

 

LARGEST CRUISE SHIP LIKE PALM OIL COMPANIES (200,000 ACRES OR MORE)

Royal Caribbean announces world's largest cruise ship to sail from China in  2021 | Cruise.Blog

 

SO ARE PALM OIL COMPANIES

SINCE CPO PRICES HAVE CROSSED RM4,200 PER TON (UP MORE THAN 100% PER TON)

STOCKS LIKE

SARAWAK OIL PALM

FGV

TAANN

TSH RESOURCES

THPLANT

BPLANT

JAYA TIASA (GIANT TREASURE)

IOI CORP (432,000 ACRES: TOP 3 BIGGEST IN BURSA)

SIMEDARBY PLANT (3.3 MILLION ACRES WORLD BIGGEST)

HS PLANT (100,000 ACRES 100% PURE UPSTREAM & SELLS SPOT BEST)

 

ALL WITH OVER 200,000 ACRES TO OVER 1 MILLION ACRES OF OIL PALMS SHOULD DO EXCEEDINGLY WELL

 

 

Best Regards

Calvin Tan

 

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

 

Another examples are During Rainy Season

 

Rain is Free

 

BUT COLLECTING IT DEPENDS ON THE SIZE OF THE CONTAINER (SO ARE OIL PALM ESTATES: THOSE WITH MORE OIL PALM TREES WILL GIVE THE BEST SUM TOTAL AMOUNT OF YIELD

 

See

 

How much water can contain?

Portrait Of Asian Woman Holding A Bucket For Collecting Rainwater From  Damaged Ceiling Stock Photo, Picture And Royalty Free Image. Image 83987530.

 

 

 

THIS ONE BIGGER BUT STILL NOT ENOUGH

Collecting Rain Water In These States Could Be Illegal | Family Handyman

 

 

 

THIS ONE BELOW BEST! 

30 of the Ecstatically Beautiful Lakes and Reservoirs in Utah - Flavorverse

 

Warm Regards

Calvin Tan

 

Please buy or sell after doing your own due diligence or consult any honest remiser/fund manager


SO FAR SO GOOD


BPLANT was recommended at 57 sen

After dividends Plus LTAT takeover price of Rm1.55 Bplant made a Whopping 369% in 2 short years


So One Bplant is Now a Trophy 

Gold Trophy Images - Free Download on Freepik


WE NOW STILL GOT 9 LEFT

AND THIS EVENING WE HAVE SELECTED RIMBUNAN SAWIT to REPLACE BPLANT


Why RSawit?


See our Answers


First see Rsawit Official Website

We quote

OUR BUSINESS

Plantation

87,614 ha of plantation land.

How many acres Rsawit got?

Just multiply 87,614 by 2.471

= 216,494 Acres

Above 200,000 Acres. So it is in the league 0f Bplant, Jtiasa, Thplant, Tsh Resources & Others also got 200,000 Acres Big Lands


Of course Rsawit has disposed some Palm Oil lands to pare down borrowings just like Tsh


And why do we Pick this RSawit


Three Pronged Reasons


Reason Number One

RSAWIT is 100% Pure Upstream Palm Oil Co

Plus it has 3 Palm Oil Mills

And as We Found out

High Cpo price will Benefit All PURE UPSTREAM PALM OIL COMPANIES SOLDLY SELLING FFB & CPO

This is the Latest Fcpo Price


Crude Palm Oil Futures

Crude Palm Oil Futures
4195 MYRD
+66 +1.60%

FANTASTIC!
As Most Cost of CPO Production only Rm2000 to Rm2200 the Gross Profit is now 100%!


Reason Number Two

Rsawit recently disposed two Palm oil Estates for a total of Rm165 Millions

A check shows it has gained a Modest 88%

Now if we take a very simple cincai calculation (lazy man style of doing sum)

Then we Multiply NAV 18 sen by 1.88%

= 33.84 sen

Now RSawit has 3 Palm oil Mills worth about Rm33 Millions Plus each

About Rm100 Millions worth

About 4.89 sen

add to 33.84 sen

= 38.73 sen

Now Rsawit is 22 sen (current real time price)

If we Value  Rsawit at 38.73 sen

then at 22 sen there is a 44% discount to NTA

Note further

Rsawit only sold its two pieces of Palm oil lands near Miri for about Rm7,000 per acre (Very cheap)

It has better palm oil lands near Kuching & Bintulu which will command better prices over Rm10,000 per acre

So Our Revaluation of Rsawit to 38.73 is not fixed as it could go as high as 50 sen

50 sen NTA?

Yes, Calvin & buddies once bought Rsawit years ago at 50 sen & then made the painful decision to "Cutloss"
Aiyoyo got to admit we thought we kena bought rubbish or lapsap?

But things are now "TURNING AROUND FOR RSAWIT"

RSAWIT A TURNAROUND?

YES YES YES!

We will give you these Solid Facts

i) First Insiders/Directors were buying Rsawit Shares

See




Above 3 Insiders/Directors bought as high as 20 sen to 23 sen

So at 22 sen though price has risen somewhat we think price still inexpensive

In any case we once bought as high as 50 sen & "Cutloss" So now that Cpo is over Rm4,190 buying this Rsawit back at 22 sen to 23 sen looks quite inexpensive compared to its historic high


And now by disposing assets we see Good Profits


See


SUMMARY OF KEY FINANCIAL INFORMATION

31 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
139,619
154,145
507,762
675,917
2
Profit/(loss) before tax
26,851
-3,801
17,550
5,991
3
Profit/(loss) for the period
28,570
-6,490
12,386
-5,818
4
Profit/(loss) attributable to ordinary equity holders of the parent
36,950
-3,190
24,478
-330
5
Basic earnings/(loss) per share (Subunit)
1.81
-0.16
1.20
-0.02
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 ($$)
0.1800
0.1700
Of course the positive result is due to a One Off Asset Sale (Not by operations as yet, but like Jtiasa it is moving in the right direction

Now Rsawit is owned by the Same Boss of Jtiasa

See Jtiasa Top Holders

TOP 30 SECURITIES ACCOUNT HOLDERS (JTIASA)

(Without aggregating the securities from different securities accounts belonging to the same Depositor)

No. Name No. of Shares %

1 Malaysia Nominees (Tempatan) Sendirian Berhad

Pledged Securities Account For Tiong Toh Siong Holdings Sdn Bhd 145,000,000 14.98

2 AMSEC Nominees (Asing) Sdn Bhd

KGI Securities (Singapore) Pte. Ltd. for Genine Chain Limited 71,055,164 7.34

3 Tiong Toh Siong Enterprises Sdn Bhd 50,449,008 5.21

4 Amanas Sdn. Bhd. 48,294,961 4.99

5 Nustinas Sdn. Bhd. 48,293,154 4.99

6 Asanas Sdn Bhd 47,459,343 4.90

7 Tiong Toh Siong Holdings Sdn Bhd 45,730,471 4.72

8 Pertumbuhan Abadi Asia Sdn. Bhd. 21,864,045 2.26

9 RHB Capital Nominees (Tempatan) Sdn Bhd

Pledged Securities Account For Tiong Toh Siong Holdings Sdn Bhd 18,000,000 1.86


Now See RSawit Top Holders


Thirty Largest Securities Account Holders

No. of

Name Ordinary Shares %

1 Pemandangan Jauh Plantation Sdn Bhd 526,955,544 25.81

2 Malaysia Nominees (Tempatan) Sendirian Berhad 170,000,000 8.33

Pledged Securities Account for Tiong Toh Siong Holdings Sdn Bhd

(88-00016-000)

3 Pertumbuhan Abadi Asia Sdn Bhd 114,187,400 5.59

4 Teck Sing Lik Enterprise Sdn Bhd 102,107,388 5.00

5 Rimbunan Hijau Southeast Asia Sdn Bhd 100,584,800 4.93

6 RHB Nominees (Tempatan) Sdn Bhd 90,700,000 4.44

Bank of China (Malaysia) Berhad Pledged Securities Account

for Tiong Toh Siong Holdings Sdn Bhd

7 State Financial Secretary Sarawak 76,034,272 3.72

8 Multi Greenview Sdn Bhd 69,500,000 3.40

9 Rejang Height Sdn Bhd 63,345,591 3.10

10 Pertumbuhan Abadi Enterprises Sdn Bhd 58,096,800 2.85

11 Kinta Hijau Sdn Bhd 43,952,100 2.15

12 Ladang Hijau (Sarawak) Sdn Bhd 37,052,788 1.81

13 Rimbunan Hijau (Sarawak) Sdn Bhd 15,686,400 0.77

14 Tiong Toh Siong Enterprises Sdn Bhd 10,402,400 0.51

15 TC Blessed Holdings Sdn Bhd 7,214,400 0.35

16 AllianceGroup Nominees (Tempatan) Sdn Bhd 5,451,900 0.27

Pledged Securities Account for On Kok Thong (7010694)

17 Tiong Chiong Ong 4,877,208 0.24

18 Ong Ngoh Ing @ Ong Chong Oon 4,550,000 0.22

19 Chong Tong Siew 4,378,000 0.21


Toh Tiong Siong & his relatives own 66% of Rsawit (More than he owns Jtiasa)


See


Substantial Shareholders in RSAWIT

The substantial shareholders’ interests in ordinary shares in the Company as per the Register of Substantial Shareholders

as at 4 April 2023 are as follows:

No. of shares No. of shares

Name held (Direct) % held (Indirect) %

1. Tiong Toh Siong Holdings Sdn Bhd 264,429,560 12.95 633,508,332(a) 31.03

2. Pemandangan Jauh Plantation Sdn Bhd 526,955,544 25.81 - -

3. Pertumbuhan Abadi Asia Sdn Bhd 114,187,400 5.59 119,271,200(b) 5.84

4. Teck Sing Lik Enterprise Sdn Bhd 102,107,388 5.00 157,939,300© 7.74

5. Tiong Toh Siong Enterprises Sdn Bhd 10,402,400 0.51 226,568,891(d) 11.10

6. Tan Sri Datuk Sir Diong Hiew King

@ Tiong Hiew King 2,400,000 0.12 1,351,203,971(e) 66.18

A combined total of 66.18%


Now if Jtiasa being the Sister Company could Turnaround So Well There is a Good Possibility Rsawit can also do a Wonderful "TURNAROUND" as well. After all they are owned by same Bosses with the same DNA?


Ok unlike Jtiasa which got Strong Earnings

RSAWIT got Strong Assets for Sale

Jtiasa Pulau Bruit Lands are rented lands

BUT RSAWIT BOUGHT THEIR LANDS BY CASH OUTRIGHT

Now we come to the 3rd Reason which is the Most Important Reason of all


3. RSAWIT IS AN ASSET PLAY WITH OVER 160,000 ACRES OF LANDS STILL AT VERY LOW BOOK VALUE AS LOW AS BELOW RM3,000 PER ACRE


THE DIRECTORS OF RSAWIT MUST HAVE SEEN HOW "TOK MAT SAID PLANTING ON A GOLD MINE LAND"


SO JUST BY SELLING RSAWIT LANDS THEY CAN SEE A GOLDEN WINDFALL


Since Rsawit is a Non Bumi Company Selling Its Lands to UNLOCK VALUE is VERY FAST AND EASY






Why?


Because there are  literally no more conversion of Forest Lands to palm oil allowed

So for any palm oil Company(ies) to expand they must buy from "Existing Palm Oil Land Owners which Got Large Tract of Palm oil Lands"


Prices are very high now and very few are willing to sell. Plus Glc Linked Companies Like Bplant, FGV, SimeDarby Plant and even Thplant are not allowed to sell their palm oil lands to "Non Bumi Entities"

As Such Rsawit being "Non Bumi entity"  will see a Golden Windfall in all its Palm Oil Lands


Currently in Illinois, USA  and Mato Grosso, Brazil Farm Lands growing Soybean & Corn are Skyrocketing Up in Prices due to high agriculture prices. So will be Palm oil Lands


But there is Another Strong Push for Rsawit

Abang Jo is trying to industrialize Sarawak & the Pan Borneo Highway will turn many lands into Commercial Value like Solar Farm & Data Centre

So RSAWIT WILL STAND TO REAP


Rsawit now 22 sen


Let's see how and when it will rebound to our purchase price of 50 sen years ago


We bought Jtiasa at 63 sen & today Jtiasa is Rm1.49


So we think it is possible for RSawit's turn to turnaround


With sincere & kind regards


Calvin Tan


Please buy or sell after doing your own due diligence or consult competent Fund Manager or Remisier



Coming up


RSAWIT - A THROUGHOUT STUDY OF ALL ITS PALM OIL LANDS LISTED

THEIR BOOK VALUE

AND THEIR CURRENT MARKET VALUE


Please stay tuned

Discussions
Be the first to like this. Showing 49 of 49 comments

calvintaneng

Very happy evening all

We have selected RSawit to replace Bplant in Top 10 Palm oil Picks

RSAWIT (5113) A Palm Oil Turnaround Due to High Cpo over Rm4,100 MT Plus Very Very Undervalue Assets that are Easy to Liquidate for High Profits, Calvin Tan

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2024-03-13-story-h-186459631-RSAWIT_5113_A_Palm_Oil_Turnaround_Due_to_High_Cpo_over_Rm4_100_MT_Plus_


RSAWIT IS FIRST ASSET PLAY

THEN ONLY EARNINGS

IT IS LIKE BLANT AN ASSET PLAY

2 months ago

xiaoeh

Much appreciate for your unconditional sharing Calvin🙏🙏🙏

2 months ago

calvintaneng

xiaoeh

Much appreciate for your unconditional sharing Calvin🙏🙏🙏

17 minutes ago

You are welcome

May all prosper in the Palm Oil Bull

2 months ago

newbird33

The planted area is only 42,478 hectares i.e. 105,000 acres out of which 42% are more than 20 years old. Its ffb yield is only 5.82 tonnes per hectare.

2 months ago

calvintaneng

yes we bought Rsawit not for its current earnings but for it's very
undervalue assets

2 months ago

calvintaneng

two different reasons for buying

Klk bought Ijm plant for it's earnings

2 months ago

calvintaneng

Ltat bought Bplant for its assets
CFO of Ltat said Bplant lands also 40% old trees and they needed Rm600 mil for replanting

but they took Bplant for its gold mine lands in Seberang Prai north and others

2 months ago

calvintaneng

last time

Pahang Royalty took Tmakmur private at Rm1.90 for its land to build Kota Sas township in Pahang

2 months ago

calvintaneng

And Jcorp took Kulim private at Rm4.10(was Rm2.50) to hive off lands in Pengerang to build Township

2 months ago

calvintaneng

Property developers also cannot get forest land to convert into housing as it is
strictly not allowed

Only way from property developers to get land for housing is to buy palm oil lands and then convert them to housing or industries or data center or solar farm

The word property and prosperity should alike

2 months ago

calvintaneng

prosperity and property sound alike

2 months ago

calvintaneng

see
property = pro(s)per(i)ty

2 months ago

calvintaneng

and 🌴🌴🌴 = property

2 months ago

calvintaneng

Two earning streams best

1. From operation due to high cpo price like now

2. From asset appreciation
Asset appreciates faster if there is a new highway being built or an entry of some Big Company/ Industry which can create thousands of good jobs

2 months ago

calvintaneng

Fcpo Rm4278

Rsawit upstream benefits the most

2 months ago

newbird33

Rsawit upstream FFB only produce 5.8 tonnes per hectare. Even at current high CPO price,it will be loss making.

2 months ago

calvintaneng

Insiders/directors also know this currently

To repeat this shows shallow thinking

They are "unknowns' which are yet ahead

They bought ahead and it is quite safe to say when jtiasa was Rsawit is now

And Just as Jtiasa turned around Rsawit will also "turnaround" for better

2 months ago

calvintaneng

What jtiasa was then Rsawit is now

What Jtiasa changed into Rsawit will also follow

When there was doubt about jtiasa we bought at 63 sen

And when things are clear jtiasa no longer cheap anymore and people now pay Rm1.49 (we only paid 63 sen when things looked bleak)

So we say this

Buy Rsawit now when things not clear yet and ffb apparently low

But DO NOT LOOK AT THE NOW WITH REGARD TO RSAWIT LOW FFB YIELD

SEE BEYOND THE NOW INTO THE FUTURE

BETTER DAYS AWAIT RSAWIT

2 months ago

calvintaneng

Fcpo Rm4309!

2 months ago

calvintaneng

CPO so high price is just like Mau Sang Wang durian now so expensive!

https://www.youtube.com/watch?v=0_ySoCpqyGs

2 months ago

Mabel

Thanks for sharing Calvin

Meow

2 months ago

calvintaneng

Welcome Mabel

COMMON SENSE (THAT IS CURRENT FOR NOW!)

FCPO OVER RM4,300 MT

ALL PALM OIL CO LIKE THIS https://www.youtube.com/watch?v=kTOHJZY2VRE

2 months ago

EngineeringProfit

Calvin, u collected rsawit at 014 quietly and now at 0.24, u are calling bilises to buy from u!?????

2 months ago

calvintaneng

Do not tell lies
Calvin bought as high as 22 sen to 23 sen

Now waiting to sell at 50 sen or limit up
Whichever comes 🥇 first

2 months ago

calvintaneng

Signs of turnaround

Sign number one

Company sells assets to clear debt

2 months ago

calvintaneng

Sign number two

Asset disposal revealed 88% gain from land sold

2 months ago

calvintaneng

Sign number three

Three insiders/ directors bought rsawit shares after a long stretch

Shows new confidence

2 months ago

calvintaneng

Sign number four

Their sister co jtiasa already turned around

2 months ago

calvintaneng

Sign number 5
Very high cpo prices
Rsawit in pure upstream

2 months ago

calvintaneng

Sign number 6
Abang Jo proactive push for Sarawak growth

Good for long term land asset appreciation for Sarawak

2 months ago

calvintaneng

Sign number 7
Rsawit being non bumi entity has no restriction of selling palm oil lands

2 months ago

calvintaneng

Sign number 8
Since no more conversion of forest land to palm oil allowed the limited land will go up by demand

2 months ago

calvintaneng

Sign number 9
While forest land no longer allowed to be converted to palm oil or industries

Palm oil can be converted to housing, industries, data center and solar farm

2 months ago

calvintaneng

Sign number 10
Pan borneo highway will create value for rsawit lands for years to come

2 months ago

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

RSAWIT

2023 Income Statement
Rev 507.8 m
COGS 488.6 m
Gross Income 19.1 m
SGA Expenses (43.2 m)
EBIT (24.1 m)
NOI 56.0 m
Int Exp (14.4 m)
PBT 17.6 m


2023 Balance Sheet
Cash 3m
STDebt 188m
LTDebt 152m

CA 47m
CL 302m

Current Ratio 0.16
Quick Ratio 0.08
Cash Ratio 0.01

Inventory 22m
AR 14m
AP 67m

CA 47
FA 672
Other Assets 134
TA 853

CL 302m
LTL 152m
Deferred taxes 37m
TL 491m
TEq 362m
TL+TEq 853m

2023 Cash Flow Statement
Net income 17.6 m
D&A 68.8 m
Other Funds (67.4m)
FFO 19.96m
CWC 26.5m
NOCF 45.4m

Capex (41.7m)
FCF 3.7m

2 months ago

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

Summary:

Quality of Business: 👎
Management: 👎
Valuation: (don't bother, look for another stock to analyse)👣

2 months ago

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

RSAWIT

2023 Income Statement
Rev 507.8 m
COGS 488.6 m
Gross Income 19.1 m
SGA Expenses (43.2 m)
EBIT (24.1 m)
NOI 56.0 m
Int Exp (14.4 m)
PBT 17.6 m

Its ongoing operation made losses in 2023. EBIT (24.1m). Look at its interest expense of (14.4m). It cannot even pay the interest from its business operations. Interest cover is negative.

It sold 2 pieces of estate giving a NOI of 56m. However, its business remains gruesome indeed.

2 months ago

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

2023 Balance Sheet
Cash 3m
STDebt 188m
LTDebt 152m

CA 47m
CL 302m

Current Ratio 0.16
Quick Ratio 0.08
Cash Ratio 0.01

Inventory 22m
AR 14m
AP 67m

CA 47
FA 672
Other Assets 134
TA 853

CL 302m
LTL 152m
Deferred taxes 37m
TL 491m
TEq 362m
TL+TEq 853m


What do you think of this balance sheet?
It is horrible.
It is net debt positive. Huge total debts of 340m, and current debt is 188m.

CA 47m
CL 302m

Current Ratio 0.16
Quick Ratio 0.08
Cash Ratio 0.01

The current ratio implies this company is insolvent. Its continuing operation depends on the mercy of it creditors and lenders.

TL 491m
TEq 362m
TL+TEq 853m
TL/TEq = 1.36x
TL/TA = 57.6%

2 months ago

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

Its NAV per share is 18 sen
At 22.5 sen per share today, it is trading at a premium to its NAV!
Market can be irrational!

This stock is overvalued. It should be trading at a huge discount to its NAV.

Please do your own assessment and forward here your analysis and opinion.🤝✌

2 months ago

calvintaneng

iiiinvestbodoh missed the point

nav 18 sen is based on old asset price of 20 years ago

today if revalued should be over 40 sen to 50 sen

remember the final revised NTA for Bplant was Rm2.60 while takeover price only Rm1.55

2 months ago

calvintaneng

Investing has gone to do with the "future"

we will show Jtiasa Sept to Dec
2020 results and it will be exactly like Rsawit now

when we bought into Jtiasa then it only showed a 0.46 sen profit plus Jtiasa then had high debt of Rm700 millions

that was why Jtiasa traded at a low of only 63 sen

fast forward till today Jtiasa is debt free cash rich and p/e only 4 to 5

And what Jtiasa is now Rsawit will also be in just one to two years time

the Owner of Rsawit is the same owner of Jtiasa you all must know

2 months ago

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

f one analyse a company based on its facts and fundamentals, your investing will be safer.

RSawit experienced losses even in 2023. It has huge debts and huge interest payments. Its interest cover is negative. Its current (short term) debt is huge. It has only 3m in cash in its balance sheet.

I have not encountered a company with such a poor current ratio yet. It is basically insolvent. It is at the mercy of the creditors and the bankers that the company has not been placed in receivership.

It has to restructure its balance sheet. It will need to sell and monetise a lot of its assets to pay down its debts. It also has to do so quickly too. This is not a good situation to be in, especially if it is forced to fire-sell its assets.

I cannot see how its operations can turn positive soon or in the immediate period.

2 months ago

calvintaneng

From 11 years ago in 2013 iiinvestbodoh failed to see what is a Value turnaround stock

He failed to see Pm Corp got value when we said Pm Corp at 15 sen is cheap as it has 18 sen net cash plus NTA over 40 sen

3iii iinvestbodoh only gave a value of 14.4 sen to pm corp in investlah forum

Pm Corp later unlocked woodland asset and gave an 8 sen cash payout. Pm Corp went up 100% to cross 30 sen 3 times

Many Calvin Johor buddies made 5 to 6 figures from this pm corp

www.investlah.com gone bankrupted by 3iii telling people to avoid pm corp and they went to landmine stocks like patimas & sumatech which later bankrupted all
i3 forum admin team should ban this iiinvestbodoh

See

THE PROBLEM OF 3iii IS HE HAS TUNNEL VISION IN INVESTMENT (HE CANNOT SEE WHAT OTHERS SEE)

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2019-12-03-story242906-THE_PROBLEM_OF_3iii_IS_HE_HAS_TUNNEL_VISION_IN_INVESTMENT_HE_CANNOT_SEE_WHAT_OTHERS_SEE

2 months ago

calvintaneng

Facts & fundamental of a TURNAROUND is not based on the present

IT IS BASED ON "THE FUTURE"

When Jtiasa was 63 sen see Jtiasa

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3133588

Jtiasa only earned 0.46 sen then (Now Rsawit earned 1.81 sen)

Jtiasa has 700 Millions debt then

WHY WE SEE JTIASA GOT POTENTIAL WHEN IIINVESTBODOH "SEE" NOTHING & MISSED JTIASA AT 63 SEN???

2 months ago

calvintaneng

Now look carefully at Rsawit balance sheet

It reported a 1.81 sen profit

Its debts Rm151,181,000 & Rm187,924,000
= Rm339.1 Millions debt

Less

Cash Rm2,658,000
Other investment: Rm5,000,000

= Rm331.4 Millions

Rsawit just sold (in process of selling) 2 plots of lands for Rm165 millions

So debt less asset sale

= Rm166.4 Millions Net Debt

Now This is a very small net debt compared to Jtiasa in Feb 2021 at Rm700 Millions debt

Since Rsawit still got many plots of lands to be sold just by selling 2 more plots Rsawit will instantly turn into a debt free cash rich company

The Road to Debt free Cash rich status for Jtiasa was by Strong Operational earnings

For Rsawit it is through fast paced Asset disposal

And Huge High Value Asset Disposal will BE EVEN FASTER IN CLEARING ALL DEBT FOR RSAWIT more than Jtiasa

As such we SEE Directors /Insiders of RSawit buying ahead of good times soon coming back for Rsawit

See

MR TIONG CHIONG IE 01-Mar-2024 Acquired 500,000 0.200

MR TIONG CHIONG ONG 12-Aug-2021 Acquired 85,000 0.230

TIONG CHIONG ONG 22-Jun-2021 Acquired 50,000 0.235

=

2 months ago

calvintaneng

ANOTHER STRONG PROOF OF PALM OIL LANDS ARE OF HIGH VALUE NOW

NPC RESOURCES SEELING PALM OIL LANDS IN LUBUK & SUGUT, SABAH
FOR RM22,000 PER ACRE

SEE

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=145504&name=EA_GA_ATTACHMENTS

RSAWIT COST OF LAND ONLY RM3,500 TO RM7,500 PER ACRE

IF SOLD RSAWIT WILL REAP HUGE WINDFALL

2 months ago

calvintaneng

When this was posted Rsawit was 22 sen

now is 26 sen

Jaya Tiasa is the Jumping Tiger 🐅

Rsawit is the Running Stallone
🐴 🐎

Run Rsawit Run!!!

1 month ago

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