Dear Friends of i3 Forum

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People are going GaGa over MKHOP as it is an IPO!

Now TSH RESOURCES has better fundamental than MKHOP but P/E only 16.56

So there is a Discount in TSH RESOURCES (No need to chase MKHOP 8.43 Times Over!)

Let's SEE TSH last 4 qtrs results TO KNOW

1.84 sen profit

2.14 sen profit

0.77 sen profit

2.13 sen profit

TOTAL 4 QTR PROFITS

1.84

2.14

0.77

2.13

Total: 6.88 Sen

TSH RESOURCES 

Current price Rm1.14

To get P/E

Divides price by earnings

So Rm1.14 divides by 6.88

= 16.56 P/E

If we benchmark TSH performance at MKHOP's 20.3 P/E

Then it will be

20.3 divides by 16.56

Multiply by Rm1.14 (current price)

= Rm1.397

Nearest decimal

= Rm1.40

So TSH Resources Fair Value should be Rm1.40

So TSH is a mispriced, misplaced & overlooked bargain

See

Quoted from

THE RELENTLESS PURSUIT OF VALUE

THE RELENTLESS PURSUIT OF VALUE.

In Year 1949 Warren Buffet bought “THE INTELLIGENT INVESTOR” By Benjamin Graham. He called it the best investment he made in life. It was this relentless pursuit of Value Investment that made his Berkshire Hathaway so successful and those who invested in his shares became millionaires.

I Think There Are 8 Things About Value:-

1) Value Is  Mispriced By The Market.

Benjamin Graham seeks for Shares With High NTA. NTA stands for High Net Tangible Asset as a Margin of Safety. Usually these Securities are In Some Form of Trouble with negative connotation. Or they are dull and uninteresting – so rejected by the Market.

I remember Mr. Liew of Helang Camar Used Car telling me how he searched for mispriced Auction of Repossessed Cars. He found a Proton Saga 1.5 labeled as 1.3 when it was displayed for Auction. How did he detected the difference? In the Displayed Notice The Proton was stated with 1.3c.c. engine. But when he checked with the RoadTax Disc he clearly saw that it has a 1.5c.c engine. And there is a price difference of RM3,000 between a 1.3 & a 1.5 liter Proton in those days. So he bid a higher price for a 1.3 Proton but got a Value Buy.

2) Value Is Misplaced.

One of my favourite past time is to look for good durians when they are in seasons. There are many classifications for Durians like D24, D12, D10, Hoong Har, Mai Sang Wong or just ordinary kampung ones.

Sometimes during collection and sorting and distribution one or two higher grade durians are misplaced into the lower end kampung pile. With training you can pick out these Value  buys because they have been misplaced.

3) Value Is Overlooked.

In Year 1977 to 1980 Early Mitsubishi Sigma 1.6 was manufactured. For 4 years they did some cosmetic upgrades. But in Year 1980 End to 1983 Mitsubishi came out with a Completely New Model called Mitsubishi Galant 1.6GLS. One Day I went to submit a tender for a 1980 Mitsubishi Car advertised by a Finance Company. The Officer In Charge told me to view the Mitsubishi Sigma Car and submit a tender.

To my glad delight it was actually a MITSUBISHI GALANT 1.6GLS. So I submited a quotation. And as I was the sole tenderer I got it! You see, the Bank Officer did not bother to go to the Store Yard to check out the Model – Old or New. So Value is Overlooked.

THE RELENTLESS PURSUIT OF VALUE - TA ENTERPRIZE NOW TOP VALUE BUY (Calvin Tan Research) | I3investor

NOW IF ON 30 APRIL 2024 DURING MKHOP's Official Listing If people "Goreng" Up MKHOP

You better buy some precious TSH RESOURCES better!

Best & Warmest Regards

Calvin Tan

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

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