I would say your habit is the most important trait distinguishing returns long term

I have compounded my wealth few fold. Partly has to thx him. To compound your wealth consistently u need more than timing the market.

Haha maybe philip can tell u a little bit about me

How can u tell I'm young though. Not really a risk taker. I did work very very hard to get to where I am

It really depends where u stand. Are u ahead of life or behind. When your life is not set life has to be tough. When your life is set why want to intentionally make your life miserable

Timing of buying and selling is the most critical decision you need to make if you are not as rich as Philip and want to outperform the market

If you are as rich as Philip then no worry you can continues average down your cost at the down cycle and if you do that long enough then for sure the up cycle will come one day and your stocks start to perform again


Or u can just avoid buying cyclical business. life dont have to be tough

Hahaha if you are a natural compounder u will find ways to compound your wealth

thx ss lee

Harta definitely can survive without any help. What about Intco without the big hand behind doing all the heavy supporting? Think again

Mr.Goh their price is low because of scales, energy subsidy and very low interest borrowing from china. That's provided they operate in china yea. When they come out they lose majority of walking sticks.

Working culture will be different, no energy subsidy, potential workers problem, Logistic problem. I dont understand why u can say there will be slight decrease in profit.

Posted by Sslee > 5 minutes ago | Report Abuse

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.

Almost top 30 =). I have 550k units

SSlee what authority do u have on managing the money. Balian is right

when u need to beg management for dividend its time to dispose. bet a bit can la never go big betting on this type of management

he just trapped himself inside. low liquidity, no dividend

i really respect and be friend with people like you. most ppl will hide their losses or unwilling to share them.

ss lee did u manage to recover any money from xinquan?

interesting. thx for sharing. no la u just need to pick companies that are honest and have integrity. if they are not honest whatever numbers projected are of no use. u can throw the book into dustbin

see how the management reply. treat shareholders like beggars

wa this ksl really chao ka. first time i hear this adopt already can u turn and totally remove from the yearly report. Run and dont look back this company has no integrity

KSL the chao ka lol. i just browse through their annual report dont have such formal dividend policy. nothing mentioned about it. 100% use mouth say talk cock sing song

u cant even find one example to substantiate your point?

Posted by Berlin > 11 minutes ago | Report Abuse

Huh? It says dividend policy, not dividend guarantee. Better go find out the difference between a policy and a guarantee.

whats the point of setting a dp if u are not going to follow it? Putting shit in your own pants?

Why dont u give me one example where a company didnt pay according to the dp they set. Since u say its not certainty im guessing u are smart and resourceful enough to share me 1 example indicating dp is not certainty

hello.. dividend policy is the guarantee la what u talking about

Berlin

Payout 6% dividend FY2024 is RM58 m or 41% of net profit RM141 m when guideline is 20%. Tell you anything?

U dont understand where im coming from. i can give u all the info profit cashflow etc but u still cannot guess the dividend. min 20% max ?. U see the range? for an investor 20% and 80% is a world of difference

unless u can convince the bod to raise dpolicy

yea i get u. just dont be overly optimistic. its not certain. i have jtiasa too but im okay with the worst case scenario i wont lose money

Only death and taxes are certain. Dividends can never be fixed and certain; it depends on the company's performance, future needs and ultimately the BOD who determine and can vary the set policy. That is why 2.5% + 3.5 % for FY2024 is so significant being the highest for decades.

i wonder how u invest if theres no aspect of certainty when it comes to your decision making. so are u happy with 6cents dividend? if they dont tune their policy. they are only committed to pay u not more than 8c every year for the next decade or so.

its up to them. not you.

sorry to hurt you sslee. but your pick in jtiasa is still a way better choice than insas which cant even formulate a d.policy till date

the reason why jtiasa price seems undervalued is because there is no revision to dividend policy yet. they can have 500m operating profit what is the use if the minorities dont have absolute certainty? price will always be in discount due to lack of transparency and clear direction.

Reply: Our existing policy is to pay a minimum dividend of 20% of net profit subject to not compromising the Group's ability to support its pursuit for long-term growth. However, that will not restrict declaration of dividend of more than 20%. With improvement in financial position and market condition, the dividend payout will increase accordingly


This is not good enough. they need to commit

Posted by Sslee > 40 seconds ago | Report Abuse

Market cap 1,081 million
Net cash flows from operating activities 360,029,000 FYE 30/6/2024
If CPO can hold above RM3,900 then plenty of room for Jtiasa price to move north.

u can talk all u like but the risk is dividend policy is 20%. they can still fxxx u up by not paying u more dividend and spend like fxxx all. remember insas? hoard cash

my dividend 40k+ this year have some catching up to do

Posted by Sslee > 10 minutes ago | Report Abuse

With 3.5 sen dividend this will push my dividend received for this year to over 200k+

Mike-tikus don't be jeoleous. Your jaks and Priva when can give dividend?

hahaha dont like that

Its like a zoo. grown up having arguments without info sharing. The only good thing about this website is i can get access to reports

Posted by Sslee > 28 seconds ago | Report Abuse

It remind me of one upon a time qqq3 vs OTB.
But at least qqq3 now trapped in China market and have no one to blame.

blame xi jin ping

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