but again ss lee the correct approach is not to value a company based on the current situation now especially a cyclical one like this but to access the competitive edge it has over china albeit a very slim one.

Posted by Sslee > 25 minutes ago | Report Abuse

Once PIC (Pengerang Integrated Complex) in operation with negative margin spread of naphtha feedstock-ethylene derivative and finance cost cannot be capitalized and huge depreciation cost come in plus if ringgit strengtening against USD then next quarter result will be ugly.

yes. u are very right the following quarter will look horrible. if im right its not going to be in operation ethylene propylene are in excess. they are lucky if profit is not in negative territory

Ya lo like 2 love birds. 😂

Sslee

Individual quarter ended 30 June 2024: Cumulative quarter ended 30 June 2024
RM Mil
Revenue A9.1 7,728 15,227
Cost of revenue (6,255) (12,383)
Gross profit 1,473 2,844
Selling and distribution expenses (523) (1,030)
Administration expenses (400) (766)
Other expenses (63) (51)
Other income 549 886
Operating profit B4 1,036 1,883
Financing costs (30) (73)
Share of (loss)/profit after tax of equity￾accounted associates and joint ventures (66) (65)
Profit before taxation 940 1,745
Tax expense B5 (131) (233)
PROFIT FOR THE PERIOD 809 1,512
Profit attributable to:
Shareholders of the Company 777 1,445
Non-controlling interests 32 67
PROFIT FOR THE PERIOD 809 1,512
Basic earnings per share attributable to
shareholders of the Company:
Based on ordinary shares issued (sen) B13 10 18

Is above a good result?
If without the other income of 549 million what will be the PAT?

this result is expected and going to be like that for quite some time. their cracker is not even online. lets talk about competitive edge. they have all of the feed stock crude, coal, gas vs china coal and gas. i can deduce for sure for every metric tonne petchem breakeven company like Sinopec CNPC and their company will burn money. This itself is good enough. China recently become nett exporter of PP and PE

Geographically wise Pchem has advantage as a world class port.

Posted by Sslee > 14 minutes ago | Report Abuse

Question

i tried looking at 2023 agm Q&A cant seem to find the same batch of questions. anyway, The real question we need to ask is do they have competitive edge against china. We dont know about how well china vertical integrations are. chances are its going to be very well integrated

Posted by Sslee > 20 hours ago | Report Abuse

The question what will happen when China turn from big importer of petrol chemical to big exporter of petrochemical?

any reading material boss?

Posted by Sslee > 5 days ago | Report Abuse

How can strengthening of RM good for our export oriented economy?

its only good thing is if cost is export orientated and your revenue is domestic orientated

or

u have pricing power but that would require you to be in niche position or high up in export chain

Posted by Sslee > 9 hours ago | Report Abuse

Why set the horizon for next decade when I not even know what will I have for a dinner? So I settle for a trader aim for 30% gain or just for a free bintang beer and lobster.

Just trade for fun and collecting dividend.


Hahaha. thats what i used to thought too. but thats actually too much work for me. i want my capital to grow as easy as breathing

Posted by Sslee > 27 seconds ago | Report Abuse

Me, more like a q to q earning predictor am busy buying those stocks that I think will report a good quarter end 31/6/2024.

why not extend your horizon for the next decade? your life is set with 1 or 2 winner

Posted by Sslee > 1 hour ago | Report Abuse

For some money is just a figure. So for investor like Philip to be right is more important.
As for trader like me a 30% win is good enough for me to take profit.

The key is really just to be consistent. if u make 30% 60% of the time and lose 30% 40% of the time. i dont see anything wrong with it.

economies of scale only work in volume. it has slashed its inefficient arm give it some time to grow back and further integrate. the margin will grow back over time

gohkimhock

"We expect its earnings to return to pre-Covid level only in FY27/28F onwards"

This is laughable. I can bet with you it will never return to pre-Covid19 level. Never.

ok on i dont like to talk much. we revisit 10 years later. if harta keep growing or get demolished by intco.

i guess only time will tell

EPS of 0.94 sen and dividend of 0.35 sen.
Is that a good result?

its only a bad result if its going to remain as such.

if u use china as the reason i can still accept
-100% utilization rate
-probably going to get 30b credit line from the government
-expansion
-why they can sell 20-30% cheaper

i do agree everything from quantitative point of view the price doesnt make sense. investing is a qualitative game

gohkimhock

pre-Covid19 is way better than now..

of course la mr.goh. they close down their arms, still oversupply condition. the question is do they have what it takes to compete in the future. U keep saying harta is bad. How many company exactly in Malaysia can compete in world stage. i can count with my hands

What I bough yesterday:

Buy 05/08/2024 07/08/2024 INSAS 80,000 0.991600 79,569.83
Buy 05/08/2024 07/08/2024 JTIASA 100,000 0.998500 100,229.59
Buy 05/08/2024 07/08/2024 LBS 40,000 0.605000 24,292.76
Buy 05/08/2024 07/08/2024 LTKM 20,000 1.325000 26,601.20
Buy 05/08/2024 07/08/2024 PANTECH 110,000 0.970500 107,054.16

strong. ss lee

nothing to do with dividend la. dp 60% u can literally count the dividend

bought 600 unit harta on 25/7/24 with cash balance

no offense goh the property mahsing build are known to give the least return to homebuyer. Highly dense every single development is 1000+unit to 3000 unit adding to the traffic jam without giving any added value to the community nearby

Mikecyc

Haha Insider keep Disposed shares :

why is the price not dropping much.

Yes still holding Jtiasa. Expect quarter end 30/6/2024 result should be better than last quarter and with dividend.

If CPO price can hold above RM 3,900, I expect Jtiasa price to test the 52 weeks high of RM 1.53 by year end.


expecting big dividends when they achieve FCF next year. im a small holder not as big as you

ss lee still holding jtiasa?

come join philip group la so we can chit chat😁

By the way I am not talking about those 10A holders but those that were not qualified to do certain toughest professional courses but get in through backdoor.

The day Malaysia will truly change is when it change its education. Let's do it step by step this is the hardest and also most crucial part. If they do it fair the minority will flock at the top. This is not something the mass want to see.

u like it or not our education is a political chess piece.

wa so much transaction

ss lee the fact that malaysian glove can sell higher asp compared to intco already tell u a lot of stories. china is not the asp setter. look pass all the things now and look 10 years ahead. whatever u are looking at now wont make sense one.

notice how harta is consistently there

But recommend Privasia :
Hoho Moneykj is Chun Chun on Notion .. Privasia is in the List … being awarded Gov project RM 1.2 Billion on 2022 before GE15 .. re announced on October 2023 …


but i can bet with u with certainty ss lee is leap and bound richer

Posted by Sslee > 2 hours ago | Report Abuse

how big is your position btw.
If keep dropping then I have enough cash in my trading account to make it into top 30 shareholders list.

wow so much conviction.

Sslee

Today I q buy 1.07, 1.06, 1.05 and 1.04 will see how many match.

how big is your position btw.

Sslee

What more information you want to make an investment dicision?
The Monthly production figure is announced every month in Bursa website and daily CPO price at MPOB website.

Just buy when everyone is selling and sell when everyone is buying.

sound of a true investor😁

Investing should be based on what you want foremost. Portfolio should be built based on your need rather than one universal rule for everyone. The only universal rule is to have margin of safety against future value. Do you want passive? Do you not need any passive? Do you want some passive while having some income? What's Your competitive edge it should scale with your conviction? no point investing 5% of your money better go fly kite

NatsukoMishima

Only glove tards still dreaming in 2020 !

Why don't u at least show your portfolio or at least compete in the stock competition to make a point

Albukhary

If Top Glove sales can increase 10% from RM493mil to RM550mil, then I believe other glove company (i.e. Harta, Kossan) which have higher plant utilisation could have higher sales increase, at least 20-30% compare to last quarter.

Harta would have higher revenue if its not because of red sea issue

Your analysis doesnt say how can we compete with thailand and vietnam. From what i know they are a lot more competitive

I think the term 'value trap' is not accurate or so called book value is irrelevant in most cases. Rather can you trust the management integrity. We are investing into human not books

Reading the report is just one small part of factor in determining a company valuation.

i didnt say its a trap. i simply think the BOD do not have the conviction or integrity to set a long term promises to the shareholders. Please understand that the minorities just want to get paid. Setting a simple dividend policy shouldnt be that hard .how many %? if cant set now then when? why? whats the setback? Stock price doesnt just derived from the figure factor. The management integrity is placed above everything else.

Dear Godhand
would u mind pick up some points from the article that go align with your value trap definition?
just a brief one will do as a point form

Lets put it this way. as a minority shareholder what is your certainty? I'm not going to say that Insas is a trap but it simply lack the certainty. It also could be the nature of their business that they have to hoard the cash and re-invest. What guarantee the minority that they can have the piece of cake? I think whatever the author say here is irrelevant. what is more important is the direction and promise that the this company made and deliver in stages to the shareholders

If you make a decision based on your statement above to decide and demand me to say I have been wrong whether Insas a value trap or not, that is your prerogative, and I respect your opinion. My point of view is just different from you as I looked at a whole lot of different things, all in the article itself.
Do you expect everyone thinks the same?

what is your definition of value from the perspective of a minority shareholder.

Stock: [INSAS]: INSAS BHD

1 hour ago | Report Abuse

At the end of last year my account and shares with Hlebroking total RM 3,607,457.80

All dividend directly paid into my Maybank account for family expenses managed by my wife.


I only recently break a million. but i estimate my dividend around 30k only this year

Last year I need to move my fund to Petronm then to MBMR to acheive dividend of RM 200K+.

I can only wish if Insas give a better dividend then I do not need to move the fund around.


what fund size are we looking at here

@Tan KW. I'm Top 20 for 2 consecutive years 2022&2023

My Pick
CCK - 25%
Harta - 25%
FPgroup - 10%
Hevea - 10%
Mynews - 15%
Hupseng - 10%
Geshen - 5%

LOL

apparently no

Sslee Sorry I do a lot of trading and the only stock I hold long long is the value trap Insas.

not if they start to dish out more dividend

Ok thx. Would love to learn from you.

mr sslee do u have trackable records. mind sharing with me

yea admin please adjust for participants who pick Hibiscus. @tan kw