Malaysia-based Daiken Sarawak has acquired WTK Resforestation

CFI is pleased to announce that it acted as exclusive financial advisor to Daiken Corporation in the acquisition of WTK Reforestation Sdn. Bhd. by Daiken ...

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CFI is pleased to announce that it acted as exclusive financial advisor to Daiken Sarawak, subsidiary of DAIKEN CORPORATION, in its acquisition of WTK Reforestation.

Daiken Sarawak, a Malaysian entity of Tokyo-based Daiken Corporation, is involved in the manufacturing and sale of mineral and wooden fiberboards. Additionally, they specialize in producing special plywood for applications such as ships, rolling stock, and musical instruments.

WTK Holdings engages in reforestation as part of its business model, which also encompasses timber, plantation, and adhesive tape production. The focus on sustainable forest management with WTK Reforestation contributes to the long-term well-being of Malaysian forests.

Haha WTK family members internal legal battle is over ?


Transfer of shares per Court Order

WTK
0.495
(%)
Changes in Sub. S-hldr's Int (Section 138 of CA 2016)

WTK HOLDINGS BERHAD

Particulars of substantial Securities Holder

Name THE LATE DATUK WONG KIE NAI (ESTATE)
Nationality/Country of incorporation Malaysia
Descriptions (Class) Ordinary shares
Details of changes

No Date of change
No of securities
Type of Transaction Nature of Interest
1 01 Oct 2024
2,888,176
Transferred Direct Interest
Name of registered holder THE LATE DATUK WONG KIE NAI (ESTATE)
Description of "Others" Type of Transaction

Circumstances by reason of which change has occurred Transfer of shares per Court Order
Nature of interest Direct Interest
Direct (units) 2,948,238
Direct (%) 0.63
Indirect/deemed interest (units) 146,860,406
Indirect/deemed interest (%) 31.393
Total no of securities after change 149,808,644
Date of notice 28 Oct 2024
Date notice received by Listed Issuer 28 Oct 2024

Haha time to look at n monitoring WTK as oredi 2 QR is Turnaround to be in Profit..Let’s see coming QR results!

Haha at least WTK did not had Jtiasa Independent Auditor key audit matters on Impairment where as Total Assets is keep reducing !😱😱😱🤣

Haha as usual Konartist sslleee used his Kon maths search n extraction method to provide confusing n wrong information/ figures to twist n diverting…oredi is proven wrong at least 2 times …

Haha more n more hidden risks is Surfaced !!! 😱😱😱🤔

Haha why ah FY23 Annual Report ended June 2023 is without Corporate Structure? as website also no Corporate Structure as usual…

Haha maybe just a coincidence ke ???

Haha Genine ( Jtiasa 2nd Major , 14.68 % to 6 % ) started disposed 8.6 % share from August 2023 to July 2024 … ie : RM 0.84 to RM 1.53 to RM 1.10.


FY23 Annual Report:

Oil Palm Plantation
Daro Jaya
Kabang
Lassa
Lepah
Pulau Bruit (Wealth Houses, Eastern Eden & Poh Zhen)
Sawai
Simalau
Hariyama

Haha one by one more hidden risks is surfaced : 😱😱😱🤔


Repost :

Haha same hidden risk as Palm oil plantation replanting ke !😱

2.
May I known when reforestation can to harvest? As AR 2006, reforestation started planting; As AR 2010, 29924 Ha is planted at 2010. Understood that reforestation is 12-15 gestation period. Why reforestation still not in harvest time?

Yes, some of our planted trees have reached maturity stage. We are in the early planning stage where we are assessing the correct strategic entry point to start harvesting cycle as we need to ensure there are sustainable trees supplies that meet the harvesting condition under government's policy to achieve economy of scale.






Posted by Patient Investor > 59 minutes ago | Report Abuse
@Sslee @calvintaneng 
Can help to elaborate pg 142 of annual  report, it states "It is assumed that the harvested timber will be sold locally. The export of planted timber extracted 
from reforested plantation is currently suspended by the Government of Sarawak until further 
notice. In addition, the Group has not obtained the license to harvest the reforested plantation." 

So who are actually harvesting and selling the log in Jtiasa monthly production report?

-

Haha this is worrying .. Own Plantations are 54 % in Pulau Bruit …suitable for Hybrid Rice Cultivation lo !😱😱😱🤔

And Erajaya / Daro Jaya Plantation 9,841 hectares is near Pulau Bruit in Daro District under Mukah Division.


Jtiasa : Plantation Planted Area

FY24 Annual Report:

100% Eastern Eden Sdn Bhd ( Pulau Bruit )
> 8,580 hectares

100% Erajaya Synergy Sdn Bhd / Daro Jaya ( Mukah )
> 9,841 hectares


100% Poh Zhen Sdn Bhd ( Pulau Bruit )
> 2,933 hectares


100% Simalau Plantation Sdn Bhd
> 4,866 hectares

55%. Wealth Houses ( Pulau Bruit )
> 5,757 hectares

👉Total Own Plantation Planted Area = 31,977 hectares

👉👉Compared to FY2021 = 35,865 hectares

>>> is reduced by 3,888 hectares or - 10.84 %

>>> 100% Hariyama Sdn Bhd : 9,645 hectares is no longer owned by Jtiasa ….

>>> 55%. Wealth Houses ( Pulau Bruit )
> 5,757 hectares is owned by Jtiasa on August 2023 .

—

FY23 Annual Report:

Oil Palm Plantation
Daro Jaya
Kabang
Lassa
Lepah
Pulau Bruit (Wealth Houses, Eastern Eden & Poh Zhen)
Sawai
Simalau
Hariyama


—-

FY21 Annual Report


CORPORATE STRUCTURE

100% Eastern Eden Sdn Bhd : 8,580 hectares

100% Erajaya Synergy Sdn Bhd : 9,841 hectares

100% Poh Zhen Sdn Bhd : 2,933 hectares

100% Simalau Plantation Sdn Bhd.: 4,866 hectares

100% Hariyama Sdn Bhd : 9,645 hectares

Total Own Plantation Planted Area = 35,865 hectares


—-

No Plantations Land Area
(Ha)
Planted Area
(Ha)
1 Poh Zhen 5,000 2,933
2 Eastern Eden 10,000 8,580
3 Wealth Houses 6,000 5,757
4 Lepah 5,149 4,099
5 Daro Jaya 11,681 9,841
6 Lassa 21,300 16,287
7 Kabang 2,700 2,133
8 Sawai 6,050 5,448
9 Hariyama 10,600 9,645
10 Simalau 5,003 4,866

Total 83,483 69,589

An illustration :

Jtiasa CPO production output ( MT) X Monthly Average Price ( RM )

Sept2024 : 23,667 x 4023.5 = 95.22 million

Aug 2024 : 25,238 x 3910.5 = 98.69 million

July 2024 : 20,558 x 4034.0 = 82.93 million

> Total = RM 276.84 million

>> Note : Production Output compared Q to Q is increased by 31.91 % …. Illustration Revenue is increased by 31.21 % .


June 2024 : 17,018 x 3957.5 = 67.35 million

May 2024 : 16,419 x 3902.5 = 64.08 million

April 2024 : 13,857 x 4257.0 = 59.0 million

> Total = RM 190.43 million


👉QR June 2024 :

Revenue = RM 224.81 million

PBT = RM 31.07 million ( 13.82 % )

Haha recap on Sarawak govt on Petronas-Petros talks ongoing .. Shl be finalised soon ..

Once finalised.. Sarawak govt is expected to provide more Budget n Policies to support on Hybrid Rice cultivation !


—

What is the royalty of Sarawak oil?

From 5% of gross value previously, the state's oil royalty now includes 20% of net profit from its oil-producing activities. Sarawak's relationship with Petronas has not been on the best of terms since the state started looking at reclaiming its rights over its hydrocarbon deposits under MA63.

Haha konartist sslleee like Kidd buy what u not understand.. is no facts n figures on Jtiasa ?

Haha Jaks is benefited also from the Vietnam Power Plant construction EPC2 contract over RM 2.0 billion.. with Profit RM 400 million !

Haha as far as I knew Mr K2Y is the Victim on his intentions to Take Over Jaks with 30 % shareholding on end 2017 to 2018 … invested RM 165 million.. loss ard 89 % of the investing capital due to Margin Call …2nd Victim is Konartist sslleee as he is a die hard Uncle Follower in Xingquin n Jaks .

As on OTB, he started to Promote on December 2019 ..till 2020 ..

From the Price chart , as his team will always bought earlier… foreseen still had some profit , except those sold during Pandemic ! ( OTB is expected Jaks Vietnam Power Plant 1200 MW EPCC RM 8.7 billion to be COD by June 2020 .. due to Pandemic.. 1st 600 MW is COD on November 2020 .. 2nd 600 MW is COD on January 2021 !

> OTB
Publish date: Tue, 31 Dec 2019, 11:25 PM
Dear valued readers,

—

Posted by Sslee > 15 minutes ago | Report Abuse

By the way Jaks ALP by far is the best conman.
His victim included KYY, OTB and etc. Soon to be in his victim list the kid.

Haha that’s why after loss naked in Xingquin ( is delisted on September 2019 ) n in Jaks … sslleee became a Konartist on 2020 as posted earlier on his 1st Lies …

2.) Jaks : catched the Bottom Fishing at RM 0.185 on April 2023 ( 👉 after Sslleee posted sold Jaks on April 2023 since 2017 ) ... Up to RM 0.225 in 2 months .. then invested at RM 0.19 on July 2023 .. Gap Up on 1/9/2023 to RM 0.245 …

As said earlier 2025 Shl be Jaks year .. since LSS5 Tender RFP dateline is brought forward to 25/7/2024 from December 2024 .. focus back to Jaks .

👉 Update : LSS5 2000 MW EPCC RM 7.2 billion Tender award Shl be starting announce on November 2024 .

Repost :

Haha as for CPO price :

QR ended September compared to QR ended June is expected to be Higher profit due to Production Output!

2024 : Monthly Average Price ( RM / Ton ) :

January: 3783.5
February: 3949.5
March: 4215.5

April. : 4257.0
May : 3902.5
June : 3957.5

July. : 4034.0
August : 3910.5
September: 4023.5

October : 4387.5

1st Lies :


Haha wow Konartist Sslleee is an “ Attention Seeker “ .., approached me 1st in Netx on 2020 telling Lies replied my post which directed to Konstockraider to bail out Stockraider on Insas-WB whom play wayang in Insas-WB forum with Calvin whom invested RM 5000 …


Then Konartist Sslleee said Raider Win 1 Myvi in Netx RI .. Raider said Win 2 Myvi… both blowing bla bla bla clon the Wayang Script on Insas-PB and WC …

After Konartist Sslleee posted in Netx , his Kon gang in Tunepro, Hengyuan, Petronm started to promote Netx … will post n delete own posts …..beware .

—-


Conartist Calvin n kon Stockraider had been Promoted Netx ( 1 of 46 kon stocks ) since 4Q 2019 until early 2021 ..

Haha another hidden risk … That’s mean by FY2024 .. ard 20 % of FFB is outsourced… is the replanting schedule effectively implemented???😱🤔

>>> 4.
Noted that CPO mill utilization is still consider low with around 50% plus, any target to fully utilize the CPO mill by buying external fruits?
Yes, we are actively seeking to purchase more FFB from external parties as one of the sources to ensure better utilization of our CPO mill.

The target CPO mill utilization rate for FY2024 is over 60%.

👉 Around 10% of FFB was sourced externally in FY2023.

This shl increase the Production cost per MT :

Our CPO production cost per MT is below RM3000.

Haha what a FA Guru or FA Gutu ke Konartist sslleee :

2.) even did not understand Labour Expenses n Capex ..

Haha really laugh live me lo…as usual Konartist sslleee like to twisting by recycled my facts n figures and words..

I am calling him half past 6 Guru after he owned claimed FA n TA Guru in Yinson :

1.) said going to see 5 waves but didn’t know the waves name is EW .

Konartist sslleee shouting Waves 2 is coming so happily, thinking that is going Up trend but instead Waves 2 is going Downtrend!🤔


2.) even did not understand Labour Expenses n Capex ..

3.) What is Current Ratio ? ( to gauge working capital ratio within a year ）.

4.) What is Corporate Structure ? ( To understand the Corporate group of companies, including subsidiary n associates… and to plan corporate taxes ) .

5.) The latest one is not understand on ROIC ?

Sslleee kon friends wow , as he said be careful choosing yr friend … The house of Konartist Sslleee 🐍 Kon gang :


1) konartist sslleee aka / partners : Probability aka Victor Yong aka Good123 ..in Tunepro, Netx , Hengyuan n Petronm.



2) Kon Ularsawa 🐍 🪱 aka Ori id Dragonslayer ( is ban permanently ) : Sslleee paid To be Hired Macai …in Netx n Insas



3) Attention Seeker pokkai kon Stingray ( Kon Ularsawa 1st Sifutt ) Sleeping beauty loss naked until hibernated more than 5 years ..Kacukan Tippu gang ..


3.b ) Tin Kosong Pokkai KonpetHuangbk7 : Sleeping Beauty loss naked until hibernated more than 7 years …used similar id/abusive id to post abusive n unethical contents !


4) Koni3lurkker aka Balian , promoted SCIB halfway changed name . ( Sslleee promoting partner in SCIB ).


👉 Posted by Bruce_Wayne > week ago | Report Abuse

PearlWhite, 

Wanna play? 


I.Am.PSAi3Alert. 

in Bplant …Twisting Jtiasa figures is Bplant figures to support Konartist sslleee ! And in Jaks with Sslleee n KonpetHuang .

—

5) kon Stockraider aka Gohku in Netx , Insas , Bjcorp .

Haha Recap n Repost :

Jtiasa CPO production output ( MT) :

August 2024 : 25,238
July 2024 : 20,558
June 2024 : 17,018
May 2024 : 16,419

August 2023 : 23,324
July 2023 : 22,712
June 2023 : 16,580
May 2023 : 15,489

July 2022 : 12,488
June 2022 : 11,723
May 2022 : 11,500

👉> July 2024 Production Output: FFB is dropped 7.9 % , CPO is dropped 9.5 % .

👉> August 2024 Production Output: FFP is increased 2.74 % , CPO is increased 8.2 %


>>> 4.
Noted that CPO mill utilization is still consider low with around 50% plus, any target to fully utilize the CPO mill by buying external fruits?
Yes, we are actively seeking to purchase more FFB from external parties as one of the sources to ensure better utilization of our CPO mill.

The target CPO mill utilization rate for FY2024 is over 60%.

👉 Around 10% of FFB was sourced externally in FY2023.

This shl increase the Production cost per MT :

Our CPO production cost per MT is below RM3000.

Haha only no respect on Kon n actor !

Haha Kidd sounds like a Kon le … “ attacking everybody” ???

Haha Kidd be mature in public forum … post Jtiasa facts n figures le…not a story teller le !🤣🤣🤣🤔

Haha and also in Yinson forum … Buy what u Not understand story teller kid as usual no facts n figures!!!!


—

Posted by Mikecyc > 6 hours ago | Report Abuse

Haha Hoho oredi commented on yr Picks in Pchem forum !

Haha yr grandma knew u well le , u best in yr tongue le … be mature in Public forum , kid !

—-
Posted by Mikecyc > 6 hours ago | Report Abuse

Haha btw when someone posted how u got yr initial investing capital , i am shock ..

Haha Hoho oredi commented on yr Picks in Pchem forum !

Haha as posted earlier when u asked me why Cold eye increased holding from 10 million share to 12 million share !

Haha btw when someone posted how u got yr initial investing capital , i am shock ...

Haha no worries as posted earlied ... konartist sslleee had been shouting repeatedly with TP over 52W H RM 1.53 ... and this is the 1st time since he approached me 1st in Netx on 2020 that he n his gang tried many ways to prevent me posting in Jtiasa !

Haha as i said to OTB in YTLpower forum .. although he promoted at RM 1.10 n is in his i3 2024 competition list … he is ok with me to post Negative views facts n figures.. n I said if not labelled as Kon !

Finally when ppl attacked him with SWOT analysis, I am defended him as posted !

And then found there r 2 group of gang used aka similar id / abusive id to attack ppl with abusive n unethical content..

There r Konartist sslleee gang :

1.) ex paid macai : Ularsawa

2.) Recently KonpetHuang : aka MrHuangbk is recently banned permanently !

Haha be mature in Public forum !

Haha Buy what u Not understand , the Serba Dog n Snake story teller to promote Serba .. even told Lies during posted yr Screenshot on Serba subsidiaries that I found variance between of the screenshot n yr thread figures… Konartist sslleee had defended u before u reply .


Oredi knew during debated against u in Harta that u promoted at RM 5.80 on Early 2022 … I am posted ASP Shl be bottoming after March 2022 ..

Why don’t u posted facts n figures to support yr selection in :

1.) Pchem
2.) Yinson
3.) Jtiasa

Pls : recently you twisted on Top 4 screenshots with individual stock list !

Haha really laugh live me le … see my posts in Jtiasa!

Haha after I am posted in Tsh ke :

Posted by Mikecyc > 4 hours ago | Report Abuse

Haha seems Konartist sslleee Kon gang play Wayang again :

👉 Aka ID as Negative commentator debated against Conartist Callvin in TSH and to promote Jtiasa .


👉Aka ID as Positive commentator in Jtiasa to support Konartist sslleee .

These Kon gang ID either from Tunepro / Hengyuan/ Petronm or from Bplant / Insas !

That’s why this is the 1st Time since Konartist sslleee approached me 1st in Netx on 2020 , he n his Kon gang tried many ways preventing me to post in Jtiasa !

Haha Shl not open the YouTube.. May has virus …

Haha why Calvin .. ppl called him part time pastor in Netx did not post religious material anymore.. as during the night he posted happily retired , someone ( FortuneB ) reminded him Admin did not allow to post religious material.. will be suspended!

Haha konartist beware what u said le … pls take the right medicine n does not toxic the Indonesia land !

Haha what happened to Ularsawa n Stockraider now ??? 🤣🤣🤣🤔

Haha as posted during Debated Against Calvin n Dragonslayer ( Ularsawa Ori id is banned Permanently , Konartist sslleee ex paid macai )in Netx during 2019 to 2020 , 15 months together with Ethical Sifu3iii n ShootUp:




》Bad Intentions shl bring Bad Karma , Good Intentions shl bring Good Karma :



👉 During Calvin highlighted Netx PPE is increased by RM 8.5 million.. I had derived Total invested is RM 9.511 Million, Calvin did not know where to derive the figure..


Ivan9511 just coincidentally appeared, Calvin commander Stncws ( now sometimes with aka Future Gain ) asked ppl to buy 4D ..


On Sunday , I striked 1st Prize. I seldom play 4D …



What happened to Calvin ? He replied my call that he is going Happily Retired.. Ran Road for 3 months ..from Dec2020 , returned on March 2021 ..



What Happened on Dragonslayer ? Is banned Permanently n RIP di Bawah Tingkat 17 ( Ularsawa said Tingkat 18 1st ) ..

Haha why WTK did not has such key audit Matters ??? Only 1 key audit matters on Group level on acquisition!

Haha as I always said in Netx on 2020 … bad intention shl bring bad karma ..good intention shl bring Good karma …

See what happened on Calvin n yr Abang Stockraider in yr directed Netx n Insas RI / WC wayang !

Haha looks like same same ke as a news article on Yinson Financial Report…

👉It is always a concern when a company’s financial accounts are unclear, causing those perusing the document — which would include bankers, creditors, shareholders and investors — to question the numbers. The primary objective of a company’s financial statements is to present a true and fair view of its performance and position.

The statements should minimise ambiguity and be easily digested by users who presumably have a basic understanding of accounting and finance.


It was only earlier this month that oil and gas player Serba Dinamik Holdings Bhd was delisted from Bursa Malaysia, after grappling with accounting issues since May 2021. It had an impressive earnings track record until reporting irregularities eventually surfaced.

We have also considered the sensitivity of these key assumptions as disclosed in Note 3.2(a) to the financial statements and other disclosures included in material accounting policies in Note 2.9 to the financial statements.

Valuation of biological assets – Planted Forest
As at 30 June 2024, the Group’s planted forest was carried at RM93.4 million based on FVLCTS. The Group recorded a fair value loss of RM31.3 million during the financial year.

The key assumptions used to determine FVLCTS include the estimated harvestable volume of the planted forest, the selling price of the harvestable logs and the estimated cost of extraction and delivery.

The harvestable volume of planted forest was evaluated by an independent specialist during the financial year. 👉👉👉Due to the nature of fair value being inherently judgemental and the significant estimates involved, we have identified this to be a key audit matter.

Haha seems Konartist sslleee Kon gang play Wayang again :

👉 Aka ID as Negative commentator debated against Conartist Callvin in TSH and to promote Jtiasa .


👉Aka ID as Positive commentator in Jtiasa to support Konartist sslleee .

These Kon gang ID either from Tunepro / Hengyuan/ Petronm or from Bplant / Insas !

That’s why this is the 1st Time since Konartist sslleee approached me 1st in Netx on 2020 , he n his Kon gang tried many ways preventing me to post in Jtiasa !

See 👉 Jaks insiders had been monitoring n controlling the Gearing Ratio in a Healthy Level : 


> FYE2015 : 0.80 X



1.) FYE2019 : 0.43 X 





2.) FYE2020 : 0.34 X 





3.) Referred to FY23 , 1 QR ended March 2023 : 0.375 X 





4.) Referred to FY23 , 2QR ended June 2023 : 0.362 X 



5.) Referred to FY23 , 3QR ended September 2023 : 0.352 X


6.) Referred to FY23 , 4QR ended December 2023 : 0.350 X


7.) 1QR ended March 2024 :

Gearing Ratio = 0.293X 


8.) 2QR ended June 2024 :

Gearing Ratio = 0.303X


Haha maybe just another coincidence ke ???

Haha Genine ( Jtiasa 2nd Major , 14.68 % to 6 % ) started disposed 8.6 % share from August 2023 to July 2024 … ie : RM 0.84 to RM 1.53 to RM 1.10.

Will it be drop below RM 1.00 after unloading??? Or another unloading after QR ended September is released ??

—

2.) Jtiasa FFB Production Output :

> 2002 started replanting:

July-Sept: FFB MT

2019: 425,801 
2020: 326,209 ( - 23.4 % vs 2019 )
2021: 195,447 ( - 54 % vs 2019 )
2022: 263,948 ( - 38 % vs 2019 )

July 2023 : 110,269
August 2023 : 120,313
Sept 2023 : 129,158

Total = 359,740 ( - 15.5 % vs 2019)


> July 2024 : 101,601
August 2024 : 123,613
Sept 2024 : 118,183

Total = 343,397 ( - 19.4 % vs 2019 )



👉> Compared 2024 July- September to 2023 is reduced by - 4.54 %


👉 Question : Peak Production Season is May to November, why FFB production output is reduced n Fluctuating so High .

Haha this is worrying.. esp FY 2024 :


Total Assets is reduced:

2019 : RM 2406 million

2023 : RM 1955 million ( - 451 million )

2024 : RM 1979 million ( + 24 million )

👉👉Is reduced by RM 427 million from 2019 to 2024 , ie : over 5 years .


👉👉👉 FY24 : Impairment of Total RM 151.2 million!😱🤔

>>> New CEO is appointed on July 2021 internally from RH group !