Dear friends of i3 forum (Please read to the very end as we type now

Let us look at TSH This Qtr Results & Its Balance Sheet

This Qtr TSH earrned 1.49 sen compared to last year Qtr at 0.77 sen

Up 93.5%

If we compare it with Previous Qtr of May 2024 Results

Cash and bank balances

 259,808,000 (2024/August)

 250,138,000 (2023/August)

Cash has increased by Rm9.67 Millions

Short term funds

Rm 2,912,000 (2024)

 Rm5,349,000 (2023)

Short term Funds decreased by Rm2.437 Millions

Other current assets

Rm 4,984,000

Rm 5,320,000

Current assets decreased by Rm336,000

Investment securities

Rm 27,476,000 (2024)

Rm 28,094,000 (2023)

Investment in securities decreased by Rm618,000

Investment in an associate (21.95% Shares of Inno Plant)

Rm 79,323,000 (2024)

Rm 78,645,000 (2023)

Increased by Rm678,000

Investments in joint venture (50/50 Joint Venture in Refinery with Wilmar

 Rm103,734,000

Rm 103,090,000

Increased by Rm644,000

Let's sum it up

Total Cash in Increased by Rm7,600,940

Total Cash & Cash Equivalent

=  Rm478,237,000

TSH has Rm478.2 MILLIONS CASH OR CASH EQUIVALENTS

Now see Borrowings

Non-current liabilities

Loans and Borrowings

Rm 85,703,000 (2024)

Rm 110,963,000 (2023)

Borrowings decreased by Rm25.26 Millions

Well done! Well done!!

Current liabilities

Loans and Borrowings

Rm 181,343,000

Rm 191,157,000

Borrowings reduced by Rm98.14 Millions

Excellent Improvement!

Total Borrowings

= Rm267.046 Millions

Cash/Cash Equivalent less Borrowings

Rm478.2 MILLIONS -  Rm267.046 Millions

= Rm211 MILLIONS 

NET CASH/CASH EQIVALENTS)

A FANTASTIC TURNAROUND FROM RM1.4 BILLIONS DEBT TO A VERY CLEAN BALANCE SHEET AT LONG LAST

Now TSH Just Like Bplant is Full of Valuable Lands located in Prime Regions

Bulugan Green Tech Park (13,335 Acres)

Ikn Nusantara (94,700 Acres)

Sumatra (26,000 Acres)

All Above Are Potential for 

Greentech Industrial use

Solar Farm

Future Data Center

New Townships

Any reason or Precedent?

Yes Look at Bplant

Bplant was 57 sen

LTAT took Bplant private at Rm1.55

Why ?

Bplant final Qtr showed little earning

But Why LTAT Offered to take Bplant Private at Rm1.55?

As can be seen above

Bplant only earned a very small profit of 0.68 sen

NET ASSET (NAV) Only Rm1.29

WHY OH WHY LTAT WILLING TO OFFER RM1.55 TO TAKE BPLANT PRIVATE

THE ANSWER IS THIS

ACCORDING TO TOK MAT BPLANT ASSETS ARE NOW SO VALUABLE LIKE GOLD MINES

SO NO LONGER FEASIBLE TO PLANT ON "A GOLD MINE"

Well Said!

1) BPLANT SOLD OVER 1,500 ACRES TO YTL POWER KULAI YOUNG LANDS TO DO SOLAR FARM & DATA CENTER

2) AFTER BPLANT WAS TAKEN PRIVATE LTAT SOLD 1,200 ACRES TO KEDAH GOVT FOR KULIM HIGHTECH PARK FOR RM333 PSF (Bplant Book Value only Rm30 psf) So LTAT Pocketed 1,000% Profit

3 Latest Boustead Properties Building Balau Township in Semenyih

See

Nestled amidst the serene landscapes of Semenyih, Selangor, Mutiara Hills stands as a testament to thoughtful urban planning and sustainable living. Developed by Boustead Properties Berhad, this burgeoning residential hub harmonises with its natural surroundings while offering modern conveniences just 30 kilometres from Kuala Lumpur.

Easy Access

The township's strategic location provides easy access to major highways like LEKAS, SILK, and PLUS, ensuring seamless connectivity to nearby towns and Kuala Lumpur. This accessibility, coupled with a family-friendly environment boasting schools, hospitals, and recreational facilities, makes Mutiara Hills an attractive choice for those looking to establish roots in a vibrant community. Notably, the development is adjacent to Nottingham University, Tenby International School, Kolej Tuanku Jaafar, and other educational institutions, enhancing its appeal for families.

Modern Homes and Development Phases

Mutiara Hills is being developed under a 12 to 15-year master plan focused on nature and environmental sustainability. “Balau Homes One was launched progressively since April 2021 and consists of 230 units of 2-Storey Terrace Houses. This phase has fully sold out, reflecting strong demand for these nature-integrated homes.” Khairul says

So Boustead Property has now Taken Out Bplant Assets to Build

Boustead Properties Berhad: Creating Another New Flagship Township

Read Again

 Another New Flagship Township

called "Balau Homes"

BALAU?

HYMMM? 

Sounds so Familiar

LET'S GO SEE BPLANT PALM OIL ESTATES

(Refer Bursa)

Aha! Got It

See

Balau Estate, Semenyih, Selangor

247,4 hectares

Palm oil Estate

Freehold

Book value Rm280 Millions

Now let us see the Value

To convert Hectare to Acre

Multiply 247.4 by 2.471

= 611.3 Acres

To get Cost Per Acre

Divide Rm280 Millions by 611.3 acre

= Rm458,040

To get per sq ft cost

Divide further by 43,560

= Rm10.51 per sq ft

Now these lands will be developed into 

Calvin comments:

I once Visited Semenyih in the 1980s (About 40 Years Ago)

The people there called Semenyih = Semua Monyet

Never in my Wildest Dream today it is a Highly Desirable New Township

All Palm Oil. Now No More. All Townships

And All Palm Oil in Location in the Direction of Growth will end up

Palm Oil = Data Center

Palm Oil = Solar Farm

Palm Oil = Industrial Park

Palm Oil = New Township

THIS IS ONE BIG REASON WHY WE LIKE LONG TERM INVESTING INTO PALM OIL COMPANIES WITH BIG LAND BANKS LIKE

SOP 300,000 ACRES

FGV 400,000 ACRES

BUMITAMA 400,000 ACRES (Spore)

TSH RESOURCES 150,000 ACRES (BOOK VALUE 10 SEN PSF)

THPLANT 240,000 ACRES

BPLANT 220,000 ACRES (TAKEN PRIVATE BY LTAT)

RSAWIT 172,500 ACRES (AMAZING AS ITS BOOK VALUE NEAR KUCHING ONLY 5 SEN PSF)

WTK (MORE AMAZING: WTK HAS 20,000 ACRES IN BARAM BOOK VALUE 1.1 SEN PSF)

IJM PLANT 155,000 ACRES (TAKEN PRIVATE BY KLK)

OTHERS ARE

HS PLANT 95,000 ACRES

TAANN 150,000 ACRES

TSH our Top Pick for its 94,700 Acres Gold Mine Lands in Ikn Nusantara

13,335 Acres in KIPI Tanah Kuning Greentech Park

Tsh now Rm1.15

Target price Rm1.50

Then Rm2.00 & higher

WARM REGARDS TO ALL

Calvin Tan

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