Ok a wild guess... think yield seeker would one right?

Ok new stuff... time to learn... examples of specialist and opportunistic fund would be like?

Ok... got it.... institutions generally will not hold if no profits no dividend

O... missed out... sorry... which institutions?

But Lembaga Tabung Haji... has been buying lately

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Kahheong... so is there a case to go the SC?

Think better to approach the MSWG...

In the coming AGM.. grill the board of directors... grill the auditors... to find out what is the matter... to see if recover loss from the offending debtor...

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Neither a businessman nor executive chairman material... this rozali

Suggest to him to retire already

Get outside professional managers to run the company... professionally

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It is funny...

Despite being already in the piggy

Market seems to price unearned profits... higher than earned profits

Despite the inherent uncertainty...

Despite the huge margin of safety....

What is the rationality?

It is funny....

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So... the selling was done by nobody... except retailers who were jittery

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Ya... keep the piss off boiling in your belly...

But... should buy if you have the money... an opportunity

Cos... in the long run this low price is of no use even to rozali

But... in the meantime... watch closely.. to see... if there is shorting by shorties

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Shocking results and no divvy

Neither a businessman nor executive chairman material... this rozali

Unless can back to concession business which is easy... just distribute the money!

Acquiring plantation is not that bad



Start to despair only if by end November there is no interim divvy

At current price.. only 22,464,200 ie 449,284,000 × 5% is needed for a 5% yield divvy

Compared to the billion cash in hand 22,464,200 is mere 2.2% only


Big interim divvy... Rozali... also needed by Lembaga Tabung Haji

No need to crack your head... extend berkali kali


Focus... Rozali... why you want to do the RPT?

Obviously... cos market no appreciate TRIplc


Solution is easy.... AK would have done it 2 times... long time ago already


Ok... maybe... previously... no money..


Now... quickly.... with Puncak acting in concert... take TRIplc private

Ya... amount that can be written off is upto the cost of investment... unless MSC has given big loans and advances to the associate... or if MSC as lead shareholder is contractually obliged to provide financial support as in AirAsia

Anyway... be calm.. stay cool... these are just questions...

Think.. can rule out selling TRIplc Medicine itself to Puncak... not?

The price shows... TRIplc Medicine has just taken a poison pill?

Paperplane is no 1... what do you have to show?

Megasteel will be rescued by funny hairstyle US white knight....

Megasteel will come alive soon?

Anyway... will follow paperplane sifu and buy some

Recent quarter the management argue lower production, it actually trigger my worry also. If price good but nothing to sell also useless. I will closely monitor this stock to ensure no negative surprise.


Nowadays... hardly see lombong bijih timah in Malaysia... where the bijih timah come from ?

Look at Q2 2016 result, a one-off RM30mil write-off on associates occur. Without this, the company is actually in profit for 1H 2016.

A further reading under notes, it states as such:

6. Share of results of associates and joint ventures

The Group’s share of results of associates and joint ventures recorded a net share of losses of RM30.53 million in 1H 2016 compared with a net share of profit of RM0.35 million in 1H 2015. This was mainly due to higher share of losses from KM Resources, Inc. arising from the provision of additional prior years tax liabilities

Without such one-off items, we can estimate the EPS to be around RM0.88 per year. Which makes its P/E look attractive at around 4 now.



Its investment in associates as noticed in latest quarter result report is RM49.78mil, compared with Dec15 RM84.47mil. MSC, come and write off the balance. So the price can go further down and next year it will boom like mad.




Technically the RM30.53 million was not a write off but MSC taking up its share of loss in KM Resources, Inc.

Taxes in Indonesia very tricky unlike income tax in Malaysia. On and off prior years tax liabilities may suddenly pop up.



What is the status of KM Resources, Inc. operation ?

Anyway.... the balance of investment value as stated was only RM49.78mil left... unless MSC is committed to inject more fund.

No request for suspension... for material announcement?

Dealt a good hand... but Rozali... managed to turn it into 50:50

Anytime now... lets see... how Rozali... screw up the TRIplc RPT ?

Without taking into account the exact locations... distances from the nearest town... with or without major access roads... the terrains... and the unplanted portion of SOP is kinda small.... Puncak appears to have paid a tad more

Tan Sri Rozali.... to make proper use of the big sum of money.... cannot screw up again already... buy TPIplc the company... not its two subsidiaries

Trumps is a zero sum game?? Toxic...

"To avoid Ringgit to weaken any furthur, Bank Negara has issued an order to ban all foreign currency exchange that involves MYR. So no FX conversion and DCI involving MYR for all banks and money changer today."

So the Dow up does not mean the rest of the world too will up

Now Trump looks kinda smart not nutty

Anyway.... now is interim divvy... big interim divvy

And.. that TRIplc RPT... now is good opportunity...

So bad hairstyle nutty... wins the presidency...

Now....


Looks like good opportunity...

But.. KIV... wait purposefully


Is it gonna be 650000 emails Hillary??

Or.. that bad hair style guy who is nutty?

Welll...

First acquisition made by Rozali

Considered a screw up by many

But not Lembaga Tabung Haji

Anyway.. still have lots of money

And...


So November it is....


TRIplc price is being managed... kept at a tight range within 1.80?

http://www.thestar.com.my/business/business-news/2016/10/31/ta-ann-defends-agrogreen-deal/



PETALING JAYA: Ta Ann Holdings Bhd which came under scrutiny for its proposed purchase of Agrogreen Ventures Sdn Bhd, has defended the deal saying that the acquisition price was “fair” compared with other recently-transacted oil palm estates in Sarawak.

Sibu-based timber and oil palm player Ta Ann is paying RM211.14mil for a 100% stake in Agrogreen, which has 5,280ha of brownfield plantation land in Stungkor, Sarawak.

Ta Ann group managing director and CEO Datuk Wong Kuo Hea told StarBiz that the agreed price for the Agrogreen acquisition was a fair reflection of the market value of its assets.

He said the group took into account various factors including the size of its land bank, planted area, age of the palm trees, quality of the estate and estate management practices.

It also considered the estate’s infrastructure, locality, promixity to the crude palm oil (CPO) mills as well as recently-transacted market prices.

It said Agrogreen’s brownfield plantation was strategically located with less than an hour’s drive to Kuching and the palm oil refinery.

“Its close proximity to the city presents a great potential for future development after one cycle of planting.” Wong added.

Another pertinent point is the scarcity of good quality estates and plantations of sizeable area in Sarawak.

Wong explained: “The state government of Sarawak has repeatedly emphasised that no new plantation land would be made available in the near term (titled state land) and all new developments would have to be carried out on native customary rights (NCR) land through joint-ventures with NCR land owners.

“This adds more value to the estates or plantation on the titled state land.”

As Ta Ann had no intention to expand into Indonesia, Wong noted that the group’s oil palm land bank expansion would mainly be in Sarawak.

Of the group’s 87,076ha total land bank, almost 70% is believed to be NCR land.

CIMB Research and Maybank IB Research in their reports had deemed Ta Ann’s latest acquisition as “expensive” based on Agrogreen estimated enterprise value (EV) per planted area at RM41,473 per ha and up to RM56,020 per ha respectively.

This is higher than Sarawak Oil Palm Bhd’s proposed purchase of Shin Yang Group’s 47,000ha oil palm estates at an estimated average EV per planted area of RM32,347 per ha (CIMB Research) and RM34,000 per ha (Maybank IB).

Maybank IB said Agrogreen made a net loss of RM15mil last year and has a negative shareholders’ fund of RM34mil as of Dec 31, 2015.

“Assuming no fresh equity injection this year with an estimated net debt of RM74mil at Agrogreen, the acquisition EV per ha could rise up to RM56,020 per ha which is expensive for largely immature estates in Sarawak,” added the research unit.

MIDF Research said its estimated EV/ha for Ta Ann’s purchase of Agrogreen at RM39,989 per ha appeared to be “fair”.

“It is close to a recent brownfield deal in Sarawak valued at RM39,832 per ha,” the research unit said.

Some recent estate deals in Sarawak include Puncak Niaga Holdings Bhd’s unit acquiring Shin Yang’s plantation company which has 46,674ha in Murum at RM446.5mil this month and also, Sarawak Plantations Bhd acquisition of 1,908ha brownfield plantation at RM76mil.

Ta Ann’s total current planted area is 41,525ha. According to CIMB Research, Agrogreen’s acquisition is estimated to raise Ta Ann group’s total planted oil palm oil area by 12% to 46,231ha.

It will also raise the immature oil palm area of Ta Ann group’s from 17% to 21% of the total planted area.

This would help boost the fresh fruit bunches (FFB) output growth of the group, added the research unit.

On Agrogreen’s future contribution to Ta Ann’s group, Wong said Agrogreen’s estates were still young with 60% immature and 40% classified as young mature.

“As such, contribution to Ta Ann’s palm oil division will be in the long-term.

“Agrogreen’s FFB production should reach more than 100,000 tonnes per year within the next six to seven years,” he pointed out.

At current CPO prices, Wong expected the internal rate of return of Agrogreen’s estates to be at 8%.

For this year, Ta Ann’s capital expenditure for oil palm is estimated at RM60mil with FFB output of 720,000 tonnes and CPO output of 200,000 tonnes. He also envisaged the group’s palm oil division to perform better than the timber division this year.

On CPO, he said the price had seen a strong uptrend in the second half of 2016 which had lifted the full year average price achieved so far this year.

“We expect to achieve an average price of around RM2,500 per tonne for the year.”

At the close last Friday, Ta Ann was unchanged at RM3.51 per share.







“Its close proximity to the city presents a great potential for future development after one cycle of planting.” Wong added.



Another pertinent point is the scarcity of good quality estates and plantations of sizeable area in Sarawak.

Well..... ask Rozali to put in some money.... and flip the land 2 years down the road....

Good... still have the piss off in your belly....

But... this one does not need your approval.. only Rozalis

An even high price in near future.... so hopefully the immediate lack of substantial income will be compensated by appreciation in the land value.....


Looking forward to November.....

... scarcity of “sizeable suitable” oil palm plantation land in Sarawak..... mineral soil.... this kind of land will fetch a even high price in near future....


Everyone is going to Sarawak.....

KUALA LUMPUR: Ta Ann Holdings Bhd will boost its plantation land by 5,280ha through the proposed acquisition of the entire equity interest in Agrogreen Ventures Sdn Bhd for RM211.14mil.

In a filing with Bursa Malaysia, the Sarawak-based timber and palm oil producer said it had on Monday inked three separate conditional share sale agreements to acquire 100% equity interest in Agrogreen.

Agrogreen’s main assets are its mineral soil land bank of 5,280ha in Lundu, Sarawak, of which more than 5,090ha have been planted with oil palms age one to five years old. Based on the planted acreage reported in its latest annual report, this would increase its planted area by over 6% to 87,372ha.

One of Agrogreen’s shareholders, Mohamad Sabry Othman (holding a 15% stake), also sits on the boards of two of Ta Ann’s subsidiaries representing the interest of Lembaga Amanah Kebajikan Masjid Negeri Sarawak.

Ta Ann said the proposed acquisition was a strategic investment in vuew of the scarcity of “sizeable suitable” oil palm plantation land in Sarawak.

“With over 90% of the land having been planted with oil palms, the proposed acquisition will contribute to the group’s fresh fruit bunch production and thereby to the futire earnings of the group,” it added.

The proposed purchase is expected to be completed during the first half of next year.



....main assets are its mineral soil land bank....

.....scarcity of “sizeable suitable” oil palm plantation land in Sarawak.


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Sarawak Oil Palms

..acquires young estates in a deal worth MYR873m in cash via rights issue and borrowings. Valuation wise, we believe the brownfield estates are fairly priced at an implied EV/planted ha of ~MYR34,000.

Proposes to buy SYOP’s 47,000 ha landbank

Sarawak Oil Palms (SOP) has proposed to acquire a 100% equity stake in Shin Yang Oil Palm (Sarawak) SB (SYOP) from its major shareholder Shin Yang Holding S/B for MYR873m cash. SYOP owns 47,000 ha of land in Sarawak, of which 23,798 ha has been planted with oil palm trees (and another 6,722 ha plantable reserves).

Motivated by scarcity of land and decent pricing

SOP rationalises that there is scarcity of suitable and sizeable land banks for oil palm cultivation in Sarawak which are available for acquisitions. Furthermore, SYOP’s plantations are planted on mineral soil.





Motivated by scarcity of land.... mineral soil.



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Puncak and KPS share lots of same traders.... and KPS more in today

Is there legitimate expectation to get 38,000,000 ie 950,000,000 × 4% from the King?

PUNCAK has downsized its O&G... water operation is also small... construction loss due to sub-con screwed up... now remedied

Anyway... has not seen the investment income from its heap of cash pile

PUNCAK has ceased most of its existing operations .. coming year still will lose easily 60-80m a year?

Starting from this November... to make the waiting easy... Rozali.... can pay an annual high divvy

Do a bit of purposeful waiting la....

Roger123... still looking at Sarawak as only jungles... with only native land titles

Should be ok la


ROI should at the least has been evaluated....

Legitimate expectation of being issued land titles verified by Rozali the lawyer


It is just the time to maturity....


With Pan Borneo Highway bringing accessibility...

And .. all the dams

Sarawak... the country... will be very different in the near future.... be there

Just that not immediately seexxxxy...... Purposeful waiting is not for many

Anyway.. still have about 2/3 of the money... enough for a hattrick by Rozali