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
SUMMARY OF KEY FINANCIAL INFORMATION30 Jun 2024 |
| INDIVIDUAL PERIOD | CUMULATIVE PERIOD | |||
CURRENT YEAR QUARTER | PRECEDING YEAR CORRESPONDING QUARTER | CURRENT YEAR TO DATE | PRECEDING YEAR CORRESPONDING PERIOD | ||
30 Jun 2024 | 30 Jun 2023 | 30 Jun 2024 | 30 Jun 2023 | ||
$$'000 | $$'000 | $$'000 | $$'000 | ||
1 | Revenue | 252,517 | 256,570 | 494,905 | 506,868 |
2 | Profit/(loss) before tax | 35,946 | 27,503 | 70,973 | 81,728 |
3 | Profit/(loss) for the period | 25,305 | 16,580 | 50,482 | 54,513 |
4 | Profit/(loss) attributable to ordinary equity holders of the parent | 20,630 | 10,562 | 40,703 | 39,990 |
5 | Basic earnings/(loss) per share (Subunit) | 1.49 | 0.77 | 2.95 | 2.90 |
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 ($$) | 1.4562 | 1.4831 |
This Qtr TSH earrned 1.49 sen compared to last year Qtr at 0.77 sen
Up 93.5%
If we compare it with Previous Qtr of May 2024 Results
SUMMARY OF KEY FINANCIAL INFORMATION31 Mar 2024 |
| INDIVIDUAL PERIOD | CUMULATIVE PERIOD | |||
CURRENT YEAR QUARTER | PRECEDING YEAR CORRESPONDING QUARTER | CURRENT YEAR TO DATE | PRECEDING YEAR CORRESPONDING PERIOD | ||
31 Mar 2024 | 31 Mar 2023 | 31 Mar 2024 | 31 Mar 2023 | ||
$$'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 |
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?
BOUSTEAD PLANTATIONS BERHAD |
Financial Year End | 31 Dec 2023 |
Quarter | 3 Qtr |
Quarterly report for the financial period ended | 30 Sep 2023 |
SUMMARY OF KEY FINANCIAL INFORMATION30 Sep 2023 |
INDIVIDUAL PERIOD | CUMULATIVE PERIOD | ||||
CURRENT YEAR QUARTER | PRECEDING YEAR CORRESPONDING QUARTER | CURRENT YEAR TO DATE | PRECEDING YEAR CORRESPONDING PERIOD | ||
30 Sep 2023 | 30 Sep 2022 | 30 Sep 2023 | 30 Sep 2022 | ||
$$'000 | $$'000 | $$'000 | $$'000 | ||
1 | Revenue | 202,546 | 240,251 | 603,521 | 913,365 |
2 | Profit/(loss) before tax | 20,647 | -2,089 | 27,919 | 619,076 |
3 | Profit/(loss) for the period | 13,924 | -4,830 | 9,403 | 504,393 |
4 | Profit/(loss) attributable to ordinary equity holders of the parent | 15,216 | -352 | 14,912 | 508,023 |
5 | Basic earnings/(loss) per share (Subunit) | 0.68 | -0.02 | 0.67 | 22.68 |
6 | Proposed/Declared dividend per share (Subunit) | 0.00 | 1.10 | 1.00 | 11.15 |
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 ($$) | 1.2900 | 1.3300 |
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.
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.
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
Created by calvintaneng | Aug 03, 2024
Created by calvintaneng | Aug 02, 2024
People use PE or dividend yield to value plantation companies.
So what is the average PE and dividend yield of big, middle and small plantation companies listed in Bursa?
37 minutes ago
Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$â¬Â£Â¥
Once again, a load of writing of little value.
16 minutes ago
Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$â¬Â£Â¥
Our modest Singaporean friend posted his target price of RM 1.50. He was telling everyone to buy at RM 1.78 in recent past. For the FIRST time, he is admitting his Mr. Market behavioural problems. :-)
12 minutes ago
Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$â¬Â£Â¥
Actually it is extremely easy to place a value on TSH. Given its low level of ROE, it should NOT be trading at higher than its NTA.
Investing us simple but not easy for our Singaporean friend who is lost in massive data. He failed to see the wood for the trees.
10 minutes ago
Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$â¬Â£Â¥
Study the cash that was raised by TSH through selling its assets.
What happened to this cash? It was clearly explained in the quarterly report.
A large portion was used to reduce its huge debt. This was a good thing for the company.
TSH will also use a portion to replant new acreages.
Its net cash roughly equals the sum of its short and long term borrowings.
What will be its recurring earnings going forward?
How much dividends can be expected from these projected earnings?
Conclusion: look for another company with higher quality business and with better upside/downside ratio to invest long term.
3 minutes ago
calvintaneng
LTAT took Bplant private when its last and final result showed only 0.68 profit
When JCorp took Kulim private at Rm4.10 (From Rm2.50)
Kulim even reported 2 final qtr results in losses
See
https://www.bursamalaysia.com/bm/market_information/announcements/company_announcement/announcement_details?ann_id=2675185
From here we see Oil Palm companies got a Unique Advantage over all
ITS LANDS AFTER A TIME WHEN RIPE WILL REAL GOLDEN WINDFALL as DATA CENTER, SOLAR FARM, INDUSTRIAL PARK OR EVEN NEW TOWNSHIPS
8 hours ago