Taann has the best of 2 worlds: CPO is so robust, timber / plywood price is very high too!
Forecast earnings will exceed $1 per share should CPO and timber price hold steady for 2-3 qtrs .

Cepat will soon catch up . It should worth a lot more than 90sen.

Palm oil is one of the biggest beneficiary. Don’t ignore it.

Someone try to place roadblock at $1.10!
Once this is cleared , I believe it is on road to $1.50 in a matter of a 2-3 weeks.

Don’t miss this gem!

Don’t miss MKH too.

Ya, profit from plantation will bolster AZRB.

in the context of Bursa, Upstream palm oil companies, steel/aluminium producers, Oil and gas producers will do exceptional well amid escalation of Ukraine-Russia conflict. Take refuge in these sectors amid heightened volatility .

Important to consider if the Management is consistently paying reasonable cash dividend from the cash hoarding . If they don't, minorities will not get to enjoy it and the share will remain undervalued for a long time.
( DY yiled of 4-5% is deemed reasonable to me ).

Do you guys notice that the 4th interim is going ex on 10/3 ! The management is very quick.
Ya, don't rule out special dividend in view of expected robust Q1 2022 results and 15sen/share capital gain from Kulai estate land which is already in pocket.
More asset monetisation to come in 2022.

hahaha.....He doesn't even bother to find out the numbers before commenting.

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Posted by Hafid > Feb 23, 2022 7:03 AM | Report Abuse

labour issue. high FFB price also could not makeup the loss in production and thus the earning directly.

If the privatization offer is to be made, THP should do it very soon ,so that EGM to approve it can be concluded well before Q1 2022 result is released by end May. Just my personal view.

Just keep in mind that Bplant’s dividend for FY2022 shall be explosive!

I certainly don’t want to rule out this possibility.
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Posted by amtheng > Feb 22, 2022 10:02 PM | Report Abuse

Is there a suggestion that this accounting change is to lower the stock price and the privatisation will come cheap for THPlant

Don't waste time on this counter. There are many more undervalued plantation stocks to pick

The 4th qtr result also affected by the much higher Cost of sales by $49mil. Don't quite understand why ?
Finance cost increase by 12mil due to drawdown of $300 mil sukuk since 2nd qtr and incurring additional interest.
Cash is 260 mil .Why is there need to standby such much cash thru borrowing since 2nd qtr 2021 ? Up to everyone to make speculate.

Why is the change of accounting treatment in Q4? UPto everyone to make intelligent guess.

what Calvin elaborated is correct. THplant's Q4 2021 result is indeed very good if there is no -ve $56.6mil fair value change in biological assets.
In Q4 2021, the company decide to CHANGE THE ACCOUNTING TREATMENT in fair value accrual on biologically asset ( ie immature FFB on the trees). Prior to Q4 2021, the company made accrual for immature FFB upto 3 months before harvesting. Now the company decide to only accrual for immature FFB that are ready to be harvested in 1 month only. This has resulted reversal of all the previous qtrs accruals.
In Q4 2021, there is +ve $7.5 mil of fair value change for the forestry segment was recognised . -ve $64.1 mil (reversal) in fair value change for Oil palm segment. Overall change is therefeore -ve 56.6 mil (+7.5 -
64.1mil).

The accounting change is one off thing and has no impact to future qtr result.
If we add back the fair value change reversal for oil palm of -ve $64.10 mil, PBT Q4 2021 would be 11.2+ 64.1 = 75.30 mil which in fact very impressive.

Average realized CPO selling price for Q4 is $4,508 which is in fact better than many big guys.

I think Bplant is stronger in most parameters .
Jtiasa also a beneficiary from the CPO bulls .

Receive good amount of cash dividend from the company’s profit is definitely different from selling your own share to pay yourself. Already, the current share + the total cash dividend received in the past 2 years for the 2 companies already tell you the difference. Bear in mind that the huge freehold development land bank of Bplant in west Malaysia is something Jtiasa can not match.
I share my honest view between the two. Choice is absolutely yours .
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Posted by Kang Yao > Feb 22, 2022 12:28 PM | Report Abuse

@johnzhang if you want cash in pocket, just unload some share when price up, its the same with paying dividend

A lot more valuable development land to monetize progressively.
Just lock up my Bplant share and revisit in 6 months time . That’s my strategy to allow time for it ‘mature’.

Why sell plantation stock amid possible Ukraine-Russia war ? you should take refuge in plantation stock as CPO will be the big beneficiary .

No need to expect CPO keep going up. Plantations will make a new record amount of profit even if average price of $5,000 is achieved for 2022. Let's be realistic and don't over react to the day-to-day or week-to-week CPO price movement.

All factors being more or less equal, the company that pay regular and handsome amount of cash dividends is my choice. Cash in my own pocket is always better.

plantation stock holding steady despite quite big correction in KLSE.
It's where you can take refuge from the possible Ukraine-Russia conflict and Fed interest hike. CPO will still do very well under such risks.

The big beneficiary from current crude oil development. High crack spread shall enable it to make very handsome profit. Don't miss this stock.

@superr, if Uncle kon is smart enough he will play the reverse psychology. He may be doing it now since he knows people don't trust him anymore Hahaha..

The panic sell due to broader market drop created buying opportunity for those who know the value.

What matters is who makes more money vis-a- vis share price ( ie PE ) and who reward shareholders more with dividends in the recent past and next few years.

Many plantations in Sarawak has some small issue with NCR claim. But they are really small issue to handle. No worries at all .
Don’t focus on trivial problems, Look at the bigger picture of bright prospects for palm oil !

Mutts, enjoy your whisky!

FY2021 make 3.02 sen only. Total dividend is 2.2sen
PE of whopping 57.6X. DY of 1.2%

Q4 EPS of 4.6sen and FY2021 of 17.9 sen is excellent for a share trading at 52sen !
FY2021 total dividend of 5% give you almost 10% DY.
Time to top up this share.

Q4 2021 EPS of 10.52 sen is excellent and may indicate good time ahead for steel companies should steel price hold at present level or higher. I think it will.
I

Q4 2022 EPS 7.72 sen and FY2021 EPS of 24.21 sen is excellent.
But merely 2.5sen dividend , which is only 10% dividend payout is not acceptable
Minority shareholders got to voice it out loud and show displeasure in coming AGM.
I will do so.

Excellent performance !
Q4 2021 PAT is 81% increase YOY
FY2021 PAT is 133% increase YOY
Dividend of 14sen translate to DY of 10%.
Good share to hand on

Buy Jayatiasa? Is Jayatiasa paying 8.35sen dividend for FY 2021?
I am optimistic that dividend from Bplant for FY 2022 may be as high as 22 sen (12 sen from operational profits + 10 sen from asset monetisation gain).
Just my opinion for sharing. Cheers!

Overall, excellent performance!
Q4 2021 PBT of about $137 mil comes in line with my estimate, However, PAT is a bit lower than my expectation due to higher tax.
By comparision, PAT Q4 2021 is 3.26 times higher or 226% increase YOY. Full year PAT is 5.62 times higher or 462% increase YOY. You can't complain , can you?
4th Interim dividend of 4 sen surprised me and total dividend adds up to 8.35sen
DY is 8.9% based on today's closing .
Dividend payout is therefore 78%, deem very generous like before.
PE is 8.7x deem very cheap in view of high DY. Should fetch PE of 15X.
Net cash generated from operations during 2021 is $441 mil, $240 mil used to repay loans, balance used to pay dividend, interest and finance current assets.
CPO price realised for Q4 2021 was $5,044 and FY 2021 is $4,341 which are excellent.
The contribution of disposal gain and cashflow from Kulai land disposal is not in 2021 account except 43 mi deposit is taken in.

FY2022 is expected to be even much better. Cheers!

Probably too early to switch out of plantation.

Some pullback is very normal and is healthy after such huge gain in past 1-2 weeks .

Great opportunity to top up amid some pullback.

Mutts, land sales capital gain is in Q1 2022.

MKH is so undervalued! It’s 17,000 ha of very high yielding oil palm in Kalimantan has largely been mistakenly ignored by investors.
Yield per ha is a marvelous 30 mt/ha of FFB which is 40-50% higher than industry average.

Enning22, If CPO sustain at $6,000 throughout 2022, earnings for many plantations may rise 50-80% of FY2021.

Sslee's Q4 estimated PBT of $140 mil is very realistic.

Some asked whether Taann or Swkplant is better buy . Both essential under same leadership. I think we can't judge from share price per se.
Taann estimated EPS 2021 is 75sen. Based on last traded price of $4.68, PE is 6.24x
Swkplt estimated EPS 2021 is 51sen. Based on last traded price of $2.98, PE is 5.84X
Technically, Swkplt is deemed slightly "cheaper".
But, that's not all how we value the stocks.
Dividend yield of Taann seem higher and Taann is more than double in FFB production. Theredore, Taann should command fair amount of share price premium.
Both are still very undervalued even with some price run up last 2 weeks.
I think the long term fair value for both should be 15- 20 times PE which has been the case in the past 10 years.
At 15x PE , Taann fetches $11.25 and Swkplt fetches $7.65
Just my view for sharing

@Unfair and Casanwk, Taann or Swkplant ?/ We can't judge from share price per se.
Taann estimated EPS 2021 is 75sen. Based on last traded price of $4.68, PE is 6.24x
Swkplt estimated EPS 2021 is 51sen. Based on last traded price of $2.98, PE is 5.84X
Technically, Swkplt is deemed slightly "cheaper".
But, that's not all how we value the stocks.
Dividend yield of Taann seem higher and Taann is more than double in FFB production. Theredore, Taann should command fair amount of share price premium.
Both are still very undervalued even with some price run up last 2 weeks.
I think the long term fair value for both should be 15- 20 times PE which has been the case in the past 10 years.
At 15x PE , Taann fetches $11.25 and Swkplt fetches $7.65
Just my view for sharing

How Russia -Ukraine conflict affect global market:
Any interruption to the flow of grain out of the Black Sea region is likely to have a major impact on prices and further fuel food inflation at a time when affordability is a major concern across the globe following the economic damage caused by the COVID-19 pandemic.

Four major exporters - Ukraine, Russia, Kazakhstan and Romania - ship grain from ports in the Black Sea which could face disruptions from any military action or sanctions.

Ukraine is projected to be the world's third largest exporter of corn in the 2021/22 season and fourth largest exporter of wheat, according to International Grains Council data. Russia is the world's top wheat exporter.

CNA news on Russia -Ukraine conflict:
Any interruption to the flow of grain out of the Black Sea region is likely to have a major impact on prices and further fuel food inflation at a time when affordability is a major concern across the globe following the economic damage caused by the COVID-19 pandemic.

Four major exporters - Ukraine, Russia, Kazakhstan and Romania - ship grain from ports in the Black Sea which could face disruptions from any military action or sanctions.

Ukraine is projected to be the world's third largest exporter of corn in the 2021/22 season and fourth largest exporter of wheat, according to International Grains Council data. Russia is the world's top wheat exporter.

CNA news on Russia -Ukraine conflict:
Any interruption to the flow of grain out of the Black Sea region is likely to have a major impact on prices and further fuel food inflation at a time when affordability is a major concern across the globe following the economic damage caused by the COVID-19 pandemic.

Four major exporters - Ukraine, Russia, Kazakhstan and Romania - ship grain from ports in the Black Sea which could face disruptions from any military action or sanctions.

Ukraine is projected to be the world's third largest exporter of corn in the 2021/22 season and fourth largest exporter of wheat, according to International Grains Council data. Russia is the world's top wheat exporter.