Jtiasa plantation segment FYE 30/6/2024
RM'000
External revenue 957,886
EBITDA 414,132
Finance cost (9,998)
Depreciation and amortisation (125,588)
Segmental result 278,546
FFB production: 1,155,478 MT

For jayatiasa the risk is fluctuation of CPO market price.

Know what is jaks current assets and current liabilities?
Short term loans and long term loans?

With only a mere RM 12 million free cash can jaks take on any new project?


RM'000
Cash and Cash Equivalents
Cash and cash equivalents included in the cash flow statements comprise the following balance sheet amounts.
Deposits placed with licensed banks 12,074
Cash & bank balances 31,955
Bank overdrafts (5,877)
38,152
Less : Deposit held as security values (12,074)
Bank balance held as security values (5,585)
Debt service reserves account (8,364)
12,129

Jaks only profit is share of profit from JHDP.
Any bad news from JHDP (Did typhoon Yagi cause any damage to JHDP?) will cause Jaks price to drop further

JHDP cost USD 1.87 billion.
Equity 25% loan 75%.
Loan repayment term 10 years.

So anyone study economic/cash flow will know the first 10 years JHDP profit will be used for loan repayment and can't reward shareholders with good dividend.

Anyone with economic sense will know no conversion of oil palm plantation to plant hybrid rice.

The news is about those current farmers are encourage to plant hybrid rice in their current rice field.

Every one expecting once JHDP COD money/cash will be rolling in but unfortunately the reverse is happening negative cash flow make worst by endless yearly impairment loss on goodwill, trade and other receivables thus need yearly PP for loans repayment and working capital.

By 2030 once JHDP repay the 10 years term loan then money/cash should start rolling in.

Forget about selling Evolve mall or Pacific tower no buyer.

Jaks should concentrate in selling all the Lot 141 Seksyen 13 Bandar Petaling Jaya Daerah Petaling, Selangor: Podium offices, Apartments and Signature offices.

Net pro forma gain from the Proposed Disposal is derived as below:-
RM’000
Consideration Sum 77,744
Less : Estimated expenses for the Proposed Disposal (2,500)
Less : Audited net book value of the Subject Property as at 31 December 2023(15,973)
Less : Estimated Real Property Gain Tax (“RPGT”) (8,891)
Net pro forma gain from the Proposed Disposal 50,380

The Proposed Disposal is expected to be completed by 3rd quarter of 2025.

Question: Why the Proposed Disposal take so long to completed by 3rd quarter of 2025?
Is this a typo error 3rd quarter of 2025 or 3rd quarter of 2024?

Disclaimer: This is not a buy or sell call but just facts and figures from jayatiasa annual report, quarter report and presentation slide.

I am not oblige to tell anyone when I buy or sell jayatiasa but currently I hold 2,320,000 units of jayatiasa shares.

Area Statement as at Jun 2024
Plantation Land Area
(Ha)
Plantable Area
(Ha)
Planted /
Mature
(Ha)
Area cleared for
replanting
(Ha)
Simalau Plantation 5,003 4,866 3,846 1,020
Hariyama Plantation 10,600 9,645 9,645 -
Wealth Houses Plantation 6,000 5,757 5,757 -
Lepah Plantation 5,149 4,099 4,099 -
Daro Plantation 11,681 9,841 9,841 -
Eastern Eden Plantation 10,000 8,580 8,580 -
Poh Zhen Plantation 5,000 2,933 2,933 -
Sawai Plantation 6,050 5,448 5,448 -
Lassa Plantation 21,300 16,287 16,287 -
Kabang Plantation 2,700 2,133 2,133 -
Total 83,483 69,589 68,569 1,020

Simalau, Hariyma, Eastern Eden and Poh Zen plantation lease land wholly owned by jayatiasa.
Wealth House 55% jayatiasa subsidiary Wealth Houses Development
The other 5 plantation rent from either Sarawak government or RH related company.
Note: Wealth house, Estern eden and Poh zen total 21,000 ja is located at Bruit island.

Jatiasa is now financial healthy, net cash position and need minimum capex that enable it to give min 20% dividend. (FYE 30/6/2024 total dividend of 6 sen)

As of now Malaysia and Indonesia forbib any more new land opening for palm oil plantation so what plantation companies can do is to improve per hectare yield by better plantation management, fertilizer application and replanting with better yield palm tree.

For jayatiasa just monitor monthy FFB production and MPOB CPO spot price to know what will be jayatiasa quarter result.

Jtiasa plantation segment
RM'000
External revenue 957,886
EBITDA 414,132
Finance cost (9,998)
Depreciation and amortisation (125,588)
Segmental result 278,546

Buy low and hope to sell high.

Whatvever you do, just remember sell before Q4 result out because Q4 is the quarter where jaks will report multi-million impairment loss on trade and other receivables.

Also if next year PP again price will be pressed further down for PP price fixing and after listing of PP shares then will push up for PP subscribers to sell their PP shares.

Bruit Island (Malay: Pulau Bruit) is an island in Daro District, Mukah Division, Sarawak, Malaysia. It is located in the Rejang Delta, 150 km northwest of Kuching.[2] With a population of around 9,342 and an area of 417 square kilometres, it is the second largest island in Malaysia after Banggi Island

Aiyoyo Mike-tikus,
Bruit island 417 square kilimetres or 41,700 hectare who are you kidding jayatiasa Pulau Bruit Palm oil plantation area = 52880 + 10043 = 62,923 hectares?


Posted by jjohnchew > Sep 13, 2024 3:53 PM | Report Abuse
Posted by jjohnchew > 1 day ago | Report Abuse

👉Jtiasa :

All our palm trees have matured. Out of the Group's total planted area of 69,589 hectares, about 3% of the palms are more than 18 years of age. The average age of palms is 14 years, which is within the prime production bracket.

Pulau Bruit Palm oil plantation area = 52880 + 10043 = 62,923 hectares

>>> 62923 / 69589 = 90.4 %

Is Mike-tikus trying to say jaks price will be pressed down over 10 years?
My take jaks price will go up only after year 2030.

jjohnchew Hoho recalled Ytlpower price had been pressed down over 10 years to as Low RM 0.80 ...
Jaks price Lowest is RM 0.12 ....
13/09/2024 3:19 PM

Aiyoyo Mike-tikus why jayatiasa replanting RM 30,000 per ha?
Shouldn't it be RM 50,000 per ha?

Jayatiasa palm oil planting (2002-2015)
Ha
885
922
2388
3525
7198
7527
12086
9027
6866
4593
3528
4200
2936
1906
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Replanting costs

Malaysia's largest farmer group is already seeking tax exemptions and grants to speed up replanting, over and above existing loan schemes. On the other hand, Malaysia's Minister of Plantation and Commodities Fadillah Yusof said that the government would seek support for farmers in this month's budget.

"We have proposed certain funding for replanting, especially for smallholders. At the same time, we are discussing initiatives for big players for replanting, because currently the cost of doing business for palm oil and other agricultural commodities is increasing," he said at a conference in Kuala Lumpur.

Oil palm trees begin to bear fruit at 3 years of age, with yields increasing each year and reaching the peak between 9 years and 18 years. After that, fruit volume begins to decline, and at around 25 years, the tree is usually cut down and replaced with a new one.

However, pandemic labour unrest and record high palm oil prices last year have disrupted that schedule.

The Malaysian Palm Oil Association (MPOA) estimates that 664,000 hectares or around 12% of the country's oil palm plantation area consists of trees aged 25 years and older.

The association warned that more than a third of the planted area could be classified as old growth by 2027. MPOA Chief Executive Joseph Tek said the average cost of replanting was about 20,000 ringgit (US$4,265) per hectare, or nearly US$3 billion.

The Federal Court had on 7 March 2024, dismissed the Federal Court Appeals with costs of RM150,000. Suits 258 and 374, which will be heard
together will now proceed to the High Court for trial which the High Court had tentatively fixed for 25 August to 28 August 20

Mike-tikus,
Go and find out what inside Suits 258 and 374?

Repost:
The fact that jaks need yearly cash call PP or RI and now disposal of LSS4 50 MW solar farm land for working capital and loans repayment and on the other hand endless yearly impairment loss on receivables tell you jaks and ALP is hopeless.



Aiyoyo Mike-Tikus cannot understand the below:

The latest status of the legal dispute between Star Media Group Bhd and JAKS Resources Bhd over a land development in Section 13, Petaling Jaya, has been sent back to the High Court for trial. The Federal Court dismissed Star Media’s appeal against the 2021 Court of Appeal decision, which reversed a 2020 High Court summary judgment. The trial is scheduled for August 25, 2025.

The 2020 High Court summary judgement as below:
The court has ruled that the company be paid damages by JAKS, being late payment interest at a rate of 8% per annum on the RM134.5 million owed from Oct 25, 2015 and July 6, 2020.

The late payment interest is to continue running from July 6, 2020 until JAKS delivers the company’s entitlement in compliance with the terms of the sale and purchase agreement signed by the parties.

The fact that jaks need yearly cash call PP or RI and now disposal of LSS4 50 MW solar farm land for working capital and loans repayment and on the other hand endless yearly impairment loss on receivables tell you jaks and ALP is hopeless.

Aiyoyo Mike-Tikus cannot understand the below:

The latest status of the legal dispute between Star Media Group Bhd and JAKS Resources Bhd over a land development in Section 13, Petaling Jaya, has been sent back to the High Court for trial. The Federal Court
dismissed Star Media’s appeal against the 2021 Court of Appeal decision, which reversed a 2020 High Court summary judgment. The trial is scheduled for August 25, 2025.

The 2020 High Court summary judgement as below:
The court has ruled that the company be paid damages by JAKS, being late payment interest at a rate of 8% per annum on the RM134.5 million owed from Oct 25, 2015 and July 6, 2020.

The late payment interest is to continue running from July 6, 2020 until JAKS delivers the company’s entitlement in compliance with the terms of the sale and purchase agreement signed by the parties.

Can it be leno collect more Insas-WC?

Jaks quarter ended 30/6/2024
RM'000
Other Operating, Administrative Expenses (17,492)
Finance cost (7,182)

Aiyoyo Mike-tikus
In the second quarter under review, the Property Investment division recognised higher revenue contribution of RM3.1 million, from RM2.3 million achieved in the previous year's corresponding quarter due to additional tenants. This division reported a slightly lower loss before tax of RM9.2 million, compared to a loss before tax of RM9.5 million in the second quarter of 2023 as some of the overheads are fixed in nature.

Aiyoyo Mike-tikus,
Jaks LSS4 soon become landless.
Negative cash flow
And next year another cash call PP or RI for loans repayment and working capital

You better sell your jaks and buy jayatiasa.
Word of wisdom.

Unfortunately Islamic syllabus that was adopted by Malaysia education neglected instruction in the Islamic way of life (knowledge building) and its character-building values (ad-din). Emphasis was instead placed largely on the proper performance of the rituals. Islam was taught as a religion of ritual, of dos and don’ts of formalistic requirements and prohibitions, not as a religion of far-reaching human and moral responsibility, not as a way of life.

Worse, many of the Islamic religious teachers were supporters of PAS, who took opportunity — and abused their position and public trust — to implant political creed and outlook into the minds of their young students.

You need to check who is the CEO, MD, ED, NED (which Tiong) running the above 3 listed companies.

A Russia trained and most likely half past six medical doctor can earned RM1 million every year?
Or is he selling his backside to earn a million?

If can't pay then bankruptcy and can't stand as candidiate for state or parliment election.

https://jayatiasa.listedcompany.com/slides.html
You can look into jayatiasa presentation for the location of jayatiasa plantation.
Area Statement as at Jun 2024
Plantation Land Area
(Ha)
Plantable Area
(Ha)
Planted /
Mature
(Ha)
Area cleared for
replanting
(Ha)
Simalau Plantation 5,003 4,866 3,846 1,020
Hariyama Plantation 10,600 9,645 9,645 -
Wealth Houses Plantation 6,000 5,757 5,757 -
Lepah Plantation 5,149 4,099 4,099 -
Daro Plantation 11,681 9,841 9,841 -
Eastern Eden Plantation 10,000 8,580 8,580 -
Poh Zhen Plantation 5,000 2,933 2,933 -
Sawai Plantation 6,050 5,448 5,448 -
Lassa Plantation 21,300 16,287 16,287 -
Kabang Plantation 2,700 2,133 2,133 -
Total 83,483 69,589 68,569 1,020

It takes about four years for oil palms to produce fruits suitable for harvest. Each tree will then continue to produce fruit for up to 30 years .

Mike-tikus why the need to continues telling lies?
Repost:
Bruit Island is an island in Daro District, Mukah Division, Sarawak, Malaysia. It is located in the Rejang Delta, 150 km northwest of Kuching. With a population of around 9,342 and an area of 417 square kilometres

Bruit Island land area 41,700 hectare of which 21,000 hectare jtiasa plantation:
Wealth Houses Plantation 6,000
Eastern Eden Plantation 10,000
Poh Zhen Plantation 5,000

Jayatiasa
FBB price quarter:
740 706 761 772
1Q FY24 2Q FY24 3Q FY24 4Q FY24

Plantation
EBITDA per MT FFB
RM (414,132,000/1,155,478)= RM 358.4

Repost:
The budgeted FFB production for FYE 30 June 2025 is 1,211,852 MT. So need to apply more fertilizer.

FFB projection:
30-Jun-2022
(Actual)
30-Jun-2023
(Actual)
30-Jun-2024
(Actual)
30-Jun-2025
(Budget)
Planted area (ha) 69,589 69,589 68,569 67,449
Immature (%)(<4 years)
0.0% 0.0% 0.0% 0.0%
Young mature (%)(4-7 years)
3.1% 0.0% 0.0% 0.0%
Prime mature (%)(>7 years)
96.9% 100.0% 100.0% 100.0%
FFB production (MT) 737,723 943,924 1,155,478 1,211,852
FFB yield 10.6 13.6 16.6 17.8

Jtiasa plantation RM'000
External revenue 957,886
EBITDA 414,132
Finance cost (9,998)
Depreciation and amortisation (125,588)
Segmental result 278,546

Jaks
(Unaudited) (Audited)
As At As At
End Of End Of
Financial Financial
Period End Year End
30-Jun-2024 31-Dec-2023
RM'000 RM'000
Current Assets
Inventories 483 483
Contract assets 92,236 102,030
Trade and Other Receivables 421,135 417,625
Amount due from Joint Venture 10,291 10,291
Deposits placed with licensed banks 12,074 22,222
Cash and bank balances 31,955 41,803
568,174 594,454

Current Liabilities
Trade and Other Payables 457,827 476,105
Bank borrowings 59,894 68,200
Bank overdraft 5,877 5,911 -
523,598 550,216

How many of GK net profit of over RM 400 million is still under receivables (retention money) and will the retention money be subjected to impairment loss because of sub par standard (ash conveyer belt broken down often)?

Repost:
If jaks drop brlow 10 sen will Mike-tikus also kena margin call forced selling?

Jaks current risk:
1. Negative cash flow
2. Forced to sell LSS4 solar farm land for loan repayment and working capital
3. Next year another cash call PP or RI
4. Yearly impairment loss on trade and other receivables
5. Yearly LTIP free shares grant

Hidden risk:
1. JHDP JV partner eat Jaks for lunch
2. Vietnam government policy change on coal fire power plant
3. JHDP boilers or turbine cracks and perlong shutdown and high repair cost
4. ALP margin call forced selling
5. LSS4 solar farm new land owner increase the rental or evict jaks from the land as the land is needed for property development

The below plantation lease land owned by jayatiasa:

A. Simalau Plantation: 5,003 ha

B. Hariyama Plantation: 10,600 ha

C. Wealth Houses Plantation: 6,000 ha

D. Eastern Eden Plantation: 10,000 ha

e. Poh Zhen Plantation: 5,000 ha


Area Statement as at Jun 2024
Plantation Land Area
(Ha)
Plantable Area
(Ha)
Planted /
Mature
(Ha)
Area cleared for
replanting
(Ha)
Simalau Plantation 5,003 4,866 3,846 1,020
Hariyama Plantation 10,600 9,645 9,645 -
Wealth Houses Plantation 6,000 5,757 5,757 -
Lepah Plantation 5,149 4,099 4,099 -
Daro Plantation 11,681 9,841 9,841 -
Eastern Eden Plantation 10,000 8,580 8,580 -
Poh Zhen Plantation 5,000 2,933 2,933 -
Sawai Plantation 6,050 5,448 5,448 -
Lassa Plantation 21,300 16,287 16,287 -
Kabang Plantation 2,700 2,133 2,133 -
Total 83,483 69,589 68,569 1,020

Next AGM will ask which plantation land ownership belong to Sarawak gov’t and which belong to RH Group.

Jaks current risk:
1. Negative cash flow
2. Forced to sell LSS4 solar farm land for loan repayment and working capital
3. Next year another cash call PP or RI
4. Yearly impairment loss on trade and other receivables
5. Yearly LTIP free shares grant

Hidden risk:
1. JHDP JV partner eat Jaks for lunch
2. Vietnam government policy change on coal fire power plant
3. JHDP boilers or turbine cracks and perlong shutdown and high repair cost
4. ALP margin call forced selling
5. LSS4 solar farm new land owner increase the rental or evict jaks from the land as the land is needed for property development.

Repost:
Jaya Tiasa to Buy 55% Stake in Wealth Houses Development for MYR52 Million
23-07-05

Wealth house plantation 6,000 hectare is now 55% subsidiary of Jayatiasa.

Question 1: Who is the land owner of this 52,880 hectares rented land?

The land owner is the Sarawak gov’t and RH Group.
Plantation
Ha

Wealth Houses Plantation
6,000

Lepah Plantation
5,149

Daro Plantation
11,681

Sawai Plantation
6,050

Lassa Plantation
21,300

Kabang Plantation
2,700

Total 52,880

Monthly fee = FFB production X agreed rate: Question: May I know what is the agreed rate?
Average rate of RM10/mt to RM15/mt

Block at 0.91 so that at least leno Insas-WC is in the money and need to top up 90 sens to convert WC to Insas.

Kim Loong plantation yield is higher than jayatiasa

Jayatiasa plantation EBITDA for FYE 30/6/2024 is RM 414 million.

Jayatiasa heavy on Depreciation and amortisation cost, interest expenses and also rental fees payment expenses on rented plantation land.
Monthly fee = FFB production X agreed rate:
Average rate of RM10/mt to RM15/mt

Segmental Information
The financial information in respect of the Group’s business segments for the current financial year
ended 30 June 2024 is as follows:
Oil Palm Timber Others Elimination Total
RM'000 RM'000 RM'000 RM'000 RM'000
REVENUE
External 957,886 56,589 1,317 1,015,792
Inter segment 720,949 83,663 3,320 (807,932) -
Total Revenue 1,678,835 140,252 4,637 (807,932) 1,015,792
EBITDA 414,132 (20,520) (1,598) - 392,014
Finance cost (9,998) (8,352) (111) - (18,461)
Depreciation and amortisation (125,588) (10,067) (2,051) - (137,706)
Segmental result 278,546 (38,939) (3,760) - 235,847
Group admin and overhead cost (27,064)
Other expenses (2,190)
Profit before tax 206,593

Where are all the men in DAP?
Need a DAP lady take on UMNO again.

Jamal Yunos cedes RM300,000 to Teresa Kok after losing final appeal
Federal Court tosses Umno man’s bid to appeal ruling favouring Seputeh MP in defamation suit.

Updated 1 month ago · Published on 30 Jul 2024 3:30PM

So had any plantation companies return 25% plantation land upon the lease expiration renewal?
Or is this only hearsay?

Like our DPM proposal to return 20% land to bumiputra upon lease expiration renewal?

Repost:
Sep 10, 2024 8:28 AM | Report Abuse

By the way past record do has its relavant but cannot represent the future.

I give my benefit of doubts to current Jayatiasa management as they had done a great job in generating over RM 360 million cash flow from operating activities that make jayatiasa a net cash company and start to give good dividend.


Cash flow
RM ’000
Current year-to-date 30 Jun 2024
Corresponding year-to-date30 Jun 2023
Net cash generated from
operating activities 360,029 297,188
Net cash used in investing
activities (114,828) (44,406)
Net cash generated from/(used
in) financing activities (195,301) (287,106)
Effect of exchange rate changes 18 184
Cash & cash equivalents at
beginning of financial period 194,204 228,344
Cash & cash equivalents at end of financial period 244,122 194,204

Current Liabilities
Loans and borrowings 57,652 56,314
Non-current Liabilities -
Loans and borrowings 136,577 292,054

Should anyone buy any Singapore properties which after expired of leasehold ownership reverts to the state?

Below data complied by 3iii,
I will keep my Jayatiasa for dividend (2.5 + 3.5) sens.

Anyone can find me one with
Market cap 1.042b
NCF from operating activities 360.0 m

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ 12 months FYE 30/6/2024

INCOME STATEMENT
Revenue 1,015.8 m
Gross Profit 305.7 m
Operating Profit 227.2 m
Finance costs 18.5 m
PBT 206.6 m
Net Profit 141.1 m

BALANCE SHEET
NCA 1,595.6m
CA 395.7m
TA 1981.3m

CL 141.9m
NCL 175.6m
TL 454.2m

Equity 1,527.1m

Cash & Eq 283.0m
STL & Borrowings 57.7m
LTL & Borrowings 136.6m

Net Asset per Share 1.58
No of ord shares 967.991m

CASH FLOW STATEMENT
PBT 206.6m
D&A 137.7m
OCFBWCC 395.9m
CFO 391.8m
NCF from operating activities 360.0 m

Acquisition of subsidiaries (52.3m)
Acquisition of PPE (49.3m)

Dividend paid (40.7m)

FINANCIAL INFORMATION
JTIASA
Share price 1.070
Market cap 1.042b
ROE 9.14%
P/B 0.68
NTA 1.58
EPS 14.44 sen
PER 7.41
DPO policy 20%
Dividend 3.2 sen
DY 2.99%

FCF 307.4m
10/09/2024 4:13 PM

Luckily today he is keep busy in jayatiasa forum if he go to ytlpower forum all the sifus will hantam him kua kua.

Again when Mike-tikus can't debate on facts and figures he will go back to his cut and paste gibberish and slanderous.

Is someone saying Balian is right all this while?

Posted by Balian de Ibelin > Sep 4, 2024 5:21 PM | Report Abuse
Just speak to any non-Malaysian foreign airline CEO, all will prefer boom time economy with high crude prices with higher revenue

I make money from Bplant as I bought Bplant when Bplant sold the plantation land in Johor to ytlpower and gave good dividend.

I sold all my bplant before the GO as from Bplant monthly report of FFB havested the quarterly report will be ugly.

I make money from trading gruesome companies like bplant and jaks but Mike-tikus trapped himself high and dry inside gruesome company Jaks.