D328, Thanks for your insight. Wessex is really a rare gem...
D328, Unlike Wessex, Seraya Power has finite economic lifespan of 30 years which is ending in 2032 in accordance with EMA license
2022-08-21 16:57 | Report Abuse
Revenue 79 mil but Inventories and receivables increased by 54 mil while payable shot up by 42 mil... Certainly a big big red flag
2022-08-17 20:40 | Report Abuse
Most local IT Tech stocks are zero sum game or musical chair 'investnent' . Only to enrich investment banks, betting syndicates and remisiers.
Syndicate from Singapore would msg me giving me the target price to buy/sell.
Malaysia does not have the local IT Tech talent pool.
Invest in industry where Malaysia has competitive advantage.
2022-08-10 11:42 | Report Abuse
Calvin, Thanks for sharing some valuable insights though a bit excessive and optimistic. Better than those who brag, self praise and belittle others in the forum....
2022-03-22 07:58 | Report Abuse
Now that Texchem has turnaround the 4 pillars of its businesses. Hoping to see in near future explosive growth in its green polymer business which is now under test commercialisation with few key business partners apart from Otafuku sauce which I see increasing demand. The Annual report should shed more light into these venture capital businesses.
2022-03-21 20:44 | Report Abuse
Texchem Mgt dd aggressive share buy back despite the impending ESOS. Most companies would suppress the share price Kudos to them
2022-03-15 15:26 | Report Abuse
Also, bulk of Jtiasa plantation land is rented from major shareholder
2022-03-15 15:20 | Report Abuse
CPO output over EV value would hv been a better metric instead of MC/hectare as the former will reflect plantation yiekd and gearibg
2022-03-07 21:11 | Report Abuse
Now this half baked analyst wants to short sell plantation stocks... better don't make him angry
2022-02-28 19:06 | Report Abuse
My only concern is that the receivables (145mil) and inventory (110mil) keep growing for the past few quarters. Hopefully, this is due to growing business turnover...
2022-02-18 09:01 | Report Abuse
Don't think is a concern as weighted average transacted price is on the high side.. .. building momentum
2022-02-16 14:32 | Report Abuse
Gerald, are factors1 & 2 your assumptions or are they factual
2022-02-16 06:44 | Report Abuse
Expect concessions assets and sewerage construction project to contribute 2cts per share this quarter.
It has a sizable 47000 hectares of plantation land (99 years leasehold) in Sabah, out of which 12k hectares planted - 9k matured while 3k young.
Apart from this, it has hundreds of acres of development land in Kuala Selangor and Serendah. It also has investnent properties in Klang Valley and Singapore.
Although it has net debt about 900 plus million, the debt are mainly for completed concession assets, which are currently generating healthy cash flow.
At the current price of 35.5 Puncak capitalisation is just about 150 million, which really undervalue considering its income generating potential and valuable assets.
2022-01-29 08:26 | Report Abuse
Dec 2021 profit will be above 20cts will strong contributions from all segments from the strong Honda sales in this quarter, elevated palm oil price, resumption.of construction activities and demand of health care servicez
2022-01-21 10:28 | Report Abuse
That is why despite my concerns, I do see potential in Texchem
2022-01-21 10:27 | Report Abuse
All these were funded by internally generated funds and bank borrowing... Not thru placements
2022-01-21 10:25 | Report Abuse
With the small capital of 130mil, Texchem has not only never stop growing but indulge itself in capital intensive business which require high R&D expenditure and long gestation period like green polymer and aqua culture
2022-01-21 10:18 | Report Abuse
Generally, Texchem has respectable operating cash flow despite reporting mediocre profit to losses due to high depreciation charge
2022-01-21 10:15 | Report Abuse
90% of the debt is due less than 1 year and for trade finance purpose. The fact that these are provided on an unsecured basis means Texchem is well rated by FIs. The long term debt has been declining to a negligible level.
2022-01-21 10:07 | Report Abuse
Yes, let's wait for the current quarter result. Also, I hope to see the high inventory level, which is increasing for the past quarters come down.
2022-01-21 07:48 | Report Abuse
With Omicron cases increasing, why is Texchem paying such high valuation for Sushi King.
2022-01-21 07:17 | Report Abuse
Oh yes, MSWG please examine the deal with Yoshi to buy back Sushi King...
2022-01-21 06:59 | Report Abuse
The next question is are there more surprises
2022-01-21 06:57 | Report Abuse
As an investor, I would like the see all transactions, especially for related party,, done above board.
In this case, there was an outright share sale to Yoshi without any Put option.
However, Texchem appears to guarantee Yoshi by buying back the shares at the same price if investment is not up to expectation.
This is akin to Texchem failing to report a Contingent Liability.
No point having audited published account if investors have learn to be ''comfortable' with the Board decision based on gentlemen agreement.
Investing in KLSE would be taking a big bet due to lack of transparency and poor corporate governance.
I see Texchem potential but I am also disappointed by Texchem questionable decisions.
2022-01-20 19:06 | Report Abuse
Why spend money on share buy back when the share price is near its historical 52 weeks peak.
2022-01-20 19:04 | Report Abuse
ROI for the 102 mil is only 3% based on the best of the past 5 years Sushi King profit after tax 2+(2016 to 2020) This is the justification provided for the purchase price. Not convincing
2022-01-20 16:09 | Report Abuse
Just compare berjaya food and sushi king
2022-01-20 16:07 | Report Abuse
Texchem announcement fail to justify for the high price by comparing with peers valuation
2022-01-20 16:01 | Report Abuse
28% of Sushi King for 102 mil is equivalent to paying 3 mil for each Sushi King outlet. Given Sushi King mediocre sales, it is much cheaper for texchem to open new outlets instead of buying up the 28% stake.
2021-12-12 20:35 | Report Abuse
How can Oriental be a value trap when it has an expanding plantation and medical businesses apart from their profitable automative, plastic and quality property portfolios which are expected to recover post MCO. The term value trap is used loosely without understanding what it really means.
A company in cyclical business is value trap if caught at the wrong end of the cycle not a company that cobsistently delivers value with increasing dividend
While I agree with the potential spike of plantation stocks, I do find Calvin sometimes contradicts himself to justify the company he favours.
2021-12-12 13:33 | Report Abuse
Why Oriental Holding
With net cash position of 4.50 per share, you are getting Oriental's 40k hectares oil palm plantation for free. Not to mention others profitable business ventures and its impressive portfolio of overseas assets.
Increasing dividend yield. Expecting 5%. Last quarter paid 10c despite direct impact on its automotive and hospitality industry. Expect higher dividend payment for quater ending december 2021
Down to earth but sure win business strateges focusing organic growth based on Oriental's business growth history
Based on its historical share price movement, target price of 6.50 to 7.00 is easily within reach in the next 6 months
Not a multi bagger but a good hedge against inflation and a long term investment
2021-12-03 08:38 | Report Abuse
With close to a bil in its bank account, Insas will buy back Inari sold earlier if its when it falls back to its fair value. No one knows better than Insas,
2021-12-01 07:28 | Report Abuse
On the contrary, depreciation of ringgit will boost export sales. Companies revenue including Dksh declined due to MCO restrictions
2021-11-30 14:23 | Report Abuse
Barring further MCO, fitters will deliver a very strong result next quarter with the contnual improvement of its renewable energy business snd resumption of its construction sectors.
2021-11-30 13:53 | Report Abuse
Dksh a good company but overpriced. Wait for correction... Same as success transformer, which has corrected
2021-11-24 23:00 | Report Abuse
The current quarter maybe below expectation but it is on the right track.
2021-11-24 22:59 | Report Abuse
Similar to TSH, JTiasa profit cannot be extrapolated directly from Cpo price movement as it is not a pure oil palm plantation business
2021-11-24 22:54 | Report Abuse
Jaya Tiasa business, similar to TSH, is hybrid of oil palm and timber. Interestingly, 80% of Jaya Tiasa Total Liabilities is used to nurture its timber asset with a book value of just 13% of Jtiasa's Total Assets. I guess this the hidden value not appreciated by most of us. I believe Timber asset book value should the worth much more considering the liabilities incurred to nurture the timber business.
2021-11-19 12:13 | Report Abuse
Anyway, dont expect good quarter
2021-11-19 12:12 | Report Abuse
The seller is selling down all the way... Just wait
2021-11-17 13:05 | Report Abuse
Regulators are toothless tiger and being challenged....
2021-11-17 13:03 | Report Abuse
FMR Llc, which has 7% stake, could be selling off investment in Malaysia including Success as Malaysia is no longer favoured due to incompetent Govt and high level of corruption
2021-11-10 19:37 | Report Abuse
A few mil revenue but share price can goreng up to RM5. Can only happen in Bursaland. Sadly,such companies are promoted in this forum to naive and greedy punters.
2021-11-08 11:54 | Report Abuse
The captain of the industry is willing of pay 3.10 for Ijm plantation, which translates into EV/hectare of the planted area of 52k compared to 26K and 18k at current share price for SOP ( did not factor the value of downstream business) and Jaya Tiasa (did not include the 35k hectares of forest plantation) respectively. The EV/hectare is expected to dropped significantly if based on the coming Sept 2021 result.
Blog: Calvin Sunday Sharing:THE SEARCHING WORDS OF REBUKE BY DR. JOHN SUNG IN “I REMEMBER JOHN SUNG” By William Schubert
2021-11-07 09:42 | Report Abuse
Intrinsic just like a parrot copy and paste whatever posted by IB. Don't hv to trust or run down Calvin. Do your own research by looking at both the macro and micro levels, and if Calvin is misleading the public or talking nonsense debate over with facts and numbers. Grow up
Blog: Reposted Article by Calvin Tan: CPO OVER RM5,000: A LOOK AT SOME COMMENTS FROM FELLOW FORUMERS IN PALM OIL
2021-11-05 10:32 | Report Abuse
Lucifer, what's wrong with Calvin sharing? There are some good insights and much better than what I get from IB reports. If you are annoyed,just don't read. Much better than many punters just spamming buy! buy! or sell! sell!
2021-11-03 08:19 | Report Abuse
The 10% cut loss approach is for punters and encouraged by stock brokers as it makes good business sense for them. Serious investors would hv who know the business and financial well do not buy and sell on short term price volitility.
Blog: Calvin Tan: Canola Oil (or Rapeseed oil EU favorite oil) now reached USD1,000: That is another strong reason for Palm Oil Super Bull Run
2021-10-29 19:08 | Report Abuse
Goh,you discredit palm oil without knowing the full facts like a parrot mimicking the wise white protectionist. What a shame. Take some time to read up about the nutritional values of palm oil and understanding how sustainable oil palm will help against Global warming. Try to broaden your knowledge and outlook in life.
Stock: [JTIASA]: JAYA TIASA HOLDINGS BHD
1 week ago | Report Abuse
Jtiasa basically rented the plantation land while the rest owns the plantation land hence the discount