Dear Friends of i3 Forum (Please read to the end as we type now

IN YEAR 2015/6 WE BOUGHT JTIASA AT RM1.20 AND RSAWIT AT 60 SEN

WE SOLD ALL JTIASA FROM RM1.60 AND ABOVE BY OR BEFORE 2017

AND WE BOUGHT JTIASA AGAIN AT 63 SEN IN YEAR 2021 AND TODAY JTIASA IS RM1.08

FOR RSAWIT WE CUTLOSS AT 50 SEN

NOW SINCE RSAWIT SHARE PRICE STILL IN THE DOLDRUM WE ARE HAPPY TO BUY AGAIN AT 23 SEN

WHY LEH?

FOR THE SAME REASON JTIASA PARED DOWN ITS RM1.5 BILLIONS DEBT AND REPAIRED ITS BALANCE SHEET RSAWIT IS SHOWING US GOOD IMPROVEMENTS

LET US NOW GO SEE RSAWIT LATEST BALANCE SHEET

REFER BURSA

YOY FROM LOSS OF RM411,000 TO A PROFIT OF RM4.015 MILLIONS

NOW GO SEE INSIDE THE FIGURES

Cash and bank balances

RM 72,717,000 (2024)

RM 2,658,000 (2023)

A VERY NICE IMPROVEMENT IN CASH POSITION

FROM 7 DIGIT TO 8 DIGIT CASH

NON-CURRENT LIABILITIES

Borrowings

RM 159,820,000 (2024)

RM 150,376,000 (2023)

NON CURRENT LOAN UP ABOUT RM9+ MILLIONS

- other borrowings

 RM150,411,000 (2024)

RM 189,729,000 (2023)

OTHER LOANS IMPROVED 

FROM RM189.7 MILLIONS

TO ONLY RM150.4 MILLIONS

FROM HERE WE SEE VAST IMPROVEMENMENTS IN THE BALANCE SHEET

TOTAL LOANS HAVE SHRUNK JUST BY NORMAL OPERATING PROFITS

NOW LET US LOOK FORWARD TO COMING QTR

SEE OUR EALIER POST

RSAWIT (5113) THIS TURNAROUND PALM OIL COMPANY IS GETTING BETTER & BETTER IN ITS BALANCE SHEET, Calvin Tan

calvintaneng

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

calvintaneng

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

Publish date: Sat, 16 Mar 2024, 06:27 AM

AND MORE!

RSAWIT HAS DISPOSED TWO PALM OIL ESTATES

IT WILL RECEIVE RM165 MILLIONS TO FURTHER PARE DOWN BORROWINGS PLUS REGISTER A NICE PROFIT OF RM77 MILLIONS FROM ASSET SOLD

AND THAT WILL BE A PROFIT OF 3.77 SEN

ABOVE 16 MARCH 2024 OUR ANTICIPATION

SEE THE FULFILLMENT

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS RIMBUNAN SAWIT BERHAD ("RSB") (I) DISPOSAL OF A PARCEL OF AGRICULTURAL LAND ("SELANGOR ESTATE") BY R. H. PLANTATION SDN BHD ("RHPSB") TO MAHAWANGSA SUNGAI BOK PLANTATION SDN BHD ("MSBPSB") FOR A DISPOSAL CONSIDERATION OF RM90.00 MILLION; AND (II) DISPOSAL OF 4 PARCELS OF AGRICULTURAL LAND ("JAYAMAX ESTATE") BY JAYAMAX PLANTATION SDN BHD ("JPSB") TO MSBPSB FOR A DISPOSAL CONSIDERATION OF RM75.00 MILLION (COLLECTIVELY REFERRED TO AS THE "DISPOSALS")

RM90 MILLIONS PLUS RM75 MILLIONS = RM165 MILLIONS CASH RECEIVED (NOT IOU OR RECEIVABLES )

 announce that the Disposals have been completed today

This announcement is dated 9 July 2024.

SINCE ABOVE CASH ONLY IN BY MONTH OF JULY

IT WILL BE REPORTED AS JULY TO SEPT QTR OF 2024 

AND DATE OF RESULTS WILL BE IN NOVEMBER 2024

SO BY NOV 2024 

WILL BE A PROFIT OF 3.77 SEN

AS CASH IS RM165 MILLIONS 

1. Partial repayment of interest bearing borrowings

RM86,106,000 (REFER BURSA)

RM86 MILLIONS WILL BE USED TO PARE DOWN LOANS

BY THEN TOTAL DEBT WILL SHRUNK TO BELOW RM200 MILLIONS

AND WITH INCREASING EFFORT TO BOOST YIELD IT IS ONLY A MATTER OF TIME RSAWIT,TOO, WILL FOLLOW BOTH JTIASA AND TSH RESOURCES TO BE A NET CASH POSITIVE COMPANY

AS SUCH SINCE JTIASA SHARE PRICE RECOVERED FROM 63 SEN TO RM1.08

RSAWIT NOW STILL A GOOD BARGAIN WILL ALSO RECOVER IN VALUE AND PRICES

WITH KIND REGARDS

Calvin Tan

Please buy/sell after doing your own due diligence or consult Your remisier/fund manager

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