Dear friends of i3 forum
Just as we expected, even in this low season Quarter TSH has emerged as A NET CASH COMPANY after more than 2 decades!
Now let us look at its latest Results & Dig deeper into Its Balance Sheet
See
SUMMARY OF KEY FINANCIAL INFORMATION31 Mar 2024 |
INDIVIDUAL PERIOD | CUMULATIVE PERIOD | ||||
CURRENT YEAR QUARTER | PRECEDING YEAR CORRESPONDING QUARTER | CURRENT YEAR TO DATE | PRECEDING YEAR CORRESPONDING PERIOD | ||
31 Mar 2024 | 31 Mar 2023 | 31 Mar 2024 | 31 Mar 2023 | ||
$$'000 | $$'000 | $$'000 | $$'000 | ||
1 | Revenue | 242,388 | 250,298 | 242,388 | 250,298 |
2 | Profit/(loss) before tax | 35,027 | 54,225 | 35,027 | 54,225 |
3 | Profit/(loss) for the period | 25,177 | 37,933 | 25,177 | 37,933 |
4 | Profit/(loss) attributable to ordinary equity holders of the parent | 20,073 | 29,428 | 20,073 | 29,428 |
5 | Basic earnings/(loss) per share (Subunit) | 1.45 | 2.13 | 1.45 | 2.13 |
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 ($$) | 1.4985 | 1.4831 |
From above we see TSH
Revenue Rm242.388 Millions
Net profit Rm20.07 Millions or 1.45 sen
ITS NAV (NTA) is Rm1.50 (Nearest decimal)
At Rm1.11 TSH is selling at 26% discount to NTA
But take Note. THE ASSETS WERE BOUGHT LONG AGO IN YEARS 2005 to 2011 & NOT YET REVALUE TO ACTUAL CURRENT MARKET VALUE
Now let us look at the Balance sheet (Refer to latest Qtr report)
1st see net Cash & Cash equivalents
Investment securities Rm27,619,000
(Parked under non current assets)
Other current assets Rm7,889,000
Short term funds Rm2,888,000
Cash and bank balances Rm255,825,000
TOTAL : Rm294.221 MILLIONS (CASH)
See Debt
Loans and Borrowings Rm98,779,000
(Non current)
Loans and Borrowings Rm174,707,000
(Current liabilities)
TOTAL DEBT: Rm273.486 Millions
TOTAL CASH Less TOTAL DEBT
= RM20.735 MILILIONS NET CASH
FANTASTIC ACHIEVEMENT AFTER 2 DECADES!
TSH RESOURCES IS FINALLY A NET CASH COMPANY!!
WELL DONE! WELL DONE!!
Now see further
Assets held for sale RM222,240,000
(Refer Qtr Result)
This sum awaits payment extended to July 4 2024 (Part 3 of Bulugan Land Sold)
And if Cash is in it will be
16.05 SEN CASH (Pure Cash to be Received)
AND MORE
See Under
Investment in an associate Rm78,086,000
And who is that Associate?
Answer: INNOPRISE PLANT
Of which TSH got 105 Million Shares
And Inno is now
1.46 MYR+0.0100 (0.69%) today
Commentary on the prospects (Refer Bursa)
CPO prices have traded sideway around RM3,800 per MT after easing from the height of
RM4,500 level in early April due to falling oil export, rising CPO stockpile and ample supply of
competing vegetable oil. Since end of April, soybean prices have widened its premium against
the CPO as devastating flooding in far southern Brazil dampened the expectation of good soybean
crop production. In view of this, CPO price is likely to find reasonable support at current level.
The Group acknowledges the impact of the climate change, the uncertainties of the global
economy, geopolitical tension, trade protectionism and discrimination on the demand for oil palm
products. However, the Group is confident that global population and per capita income growth
and the push for the expansion of biodiesel programme will drive greater demand for oil palm
products in the longer term.
Underpinned by its healthy cashflow and robust balance sheet with a net asset per share of
RM1.50 and net gearing of 0.01 times as at 31 March 2024, the Group will undertake new planting
at a steady pace on its unplanted land bank over the next few years to progressively expand its
planted hectarage. In addition, the Group will strive to improve its processes through
mechanisation and automation to improve efficiency and continue to seek strategic opportunities
within the green/sustainable segment to complement its long term shareholder value enhancement
initiatives.
Barring any unforeseen circumstances, the Group is cautiously optimistic of achieving
satisfactory performance for 2024.
Note: IB Banks have given "neutral or sell call on Tsh"
HOWEVER
See this
the Group is cautiously optimistic of achieving satisfactory performance for 2024.
And what is the definition of "OPTIMISTIC"?
See
an optimistic plan.
TSH BOD (Board of Directors are OPTIMISTIC and certainly not neutral)
Created by calvintaneng | Jun 01, 2024
Created by calvintaneng | May 26, 2024
Created by calvintaneng | May 25, 2024
Created by calvintaneng | May 21, 2024
calvintaneng
Now Buy TSH as it is still at stage 2 to 3
See this to the very end
https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2021-05-08-story-h1564345486-From_Permafrost_to_Precipitation_Calvin_Tan_Research_At_what_stage_is_G
1 week ago