距离活动结束只剩 3 天了！立即报名，不要错过这个赢取丰厚奖品的绝佳机会！

Only 4 days left before the campaign ends! Sign up now and don't miss this amazing opportunity to win fantastic prizes!

我们的团队已经透过MQ Chat 联络你了。此外，你也可以填这个表格，我们会透过电话联系您。https://bit.ly/moomoomqtrader

For those who have opened a trading account and deposited a minimum of RM500, please remember to fill out this form to participate in the lucky draw campaign and stand a chance to win an Apple iPad Air, a mobile phone, and three months' access to the MQ Premier Plan!

Form Here: https://bit.ly/moomoomqtrader

嗨 @loiab， 你只需要使用这个链接（http://bit.ly/mqmoomoo）开设moomoo账户，完成入金，之后再点击这个链接（http://bit.ly/moomoomqtrader）填写google form就能参加了

入金奖励一共分为两个：

入金 RM 500 便能获得总价值RM 100的礼券，其中包含了 一张RM 50的现金券以及两张RM 25的股票券。另外还有特别福利：只要使用我们的链接开户就有机会进行抽奖，奖品包含Ipad，galaxy tab，honor手机等等（奖品详情可以查看上方）

在5月13号 晚上10点以前入金 RM 10,000 便能获得一次转轮盘的机会。会有机会获得不同的股票例如英伟达，特斯拉，苹果等等不同的东西

**须符合条规

Hi Sam! Yes, you will stand a chance to get 3 months FREE live data at i3investor when you wins for the first prize!

Hi Charles, yes you are entitled to participate in both campaigns! Simply sign up and deposit RM500 to join now as the iPad campaign is going to end by 19 May 2024!

Hi Alpaca, this is a special campaign by i3investor x Moo Moo. There are extra gifts available for those sign up Moo Moo trading account through i3investor~

Hi Alpaca, please fill up the form - https://bit.ly/moomoomqtrader and submit your contact details. The support team will reach out to you once you have filled up the form and if you are qualified, they will be able to inform you as well.

The New User Promotion for I3investor Users on the Moo Moo website is specifically for new Moo Moo MY account holders who register via an I3investor referral link. To participate, users need to open a Moomoo MY universal account, deposit at least RM500 during the campaign period (19 April 2024 to 19 May 2024), and complete a details form. Prizes include an Apple iPad Air, Galaxy Tab, and more, with winners announced on 3 June 2024.

To register: https://bit.ly/mqmoomoo)
To enter details to join in this campaign: https://bit.ly/moomoomqtrader

Considering IPOs that have been oversubscribed at 8.43x, there is a high likelihood that the first day of the IPO will debut strongly!

https://klse.i3investor.com/web/blog/detail/mqipo/2024-04-24-story-h-182882758-MKH_Oil_Palm_IPO_oversubscribed_by_8_4_times

MKHOP IPO 中文 第三部

https://klse.i3investor.com/web/blog/detail/mqipo/2024-04-15-story-h-183807148

MKHOP IPO 中文 第二部

https://klse.i3investor.com/web/blog/detail/mqipo/2024-04-15-story-h-183807239

MKHOP IPO 中文 第一部

https://klse.i3investor.com/web/blog/detail/mqipo/2024-04-15-story-h-183807240

Hi @KingKKK

Based on our research, if we follow a 3-year average PE ratio:

MKHOP: 11.26x
Chin Teck Plantation: 10.25x
TH Plantation: 10.88x
Innoprise Plantation: 11.05x
Rimbunan Sawit Berhad: Negative

The above companies have similar market caps ranging between RM 540 million and RM 740 million.

MKHOP IPO Highlight!

https://klse.i3investor.com/web/blog/detail/mqipo/2024-04-12-story-h-183859193-IPO_MKH_Oil_Palm_East_Kalimantan_Holdings_Berhad_Part_4_Discover_the_Gr

MKH IPO Analysis Part 3

https://klse.i3investor.com/web/blog/detail/mqipo/2024-04-08-story-h-184576046-IPO_MKH_Oil_Palm_East_Kalimantan_Holdings_Berhad_Part_3_Why_is_MKH_Oil_

MKHOP IPO Analysis Part 2

https://klse.i3investor.com/web/blog/detail/mqipo/2024-03-15-story-h-186422218-IPO_MKH_Oil_Palm_East_Kalimantan_Holdings_Berhad_Part_2

MKHOP IPO Part 1

https://klse.i3investor.com/web/blog/detail/mqipo/2024-03-15-story-h-186423049-IPO_MKH_Oil_Palm_East_Kalimantan_Holdings_Berhad_Part_1

Hi @JacobChong

ESG is achieved when a company meets the ESG requirements while operating. For example, in terms of the environment, when producing e-cigarette products, companies can implement measures to reduce pollution during the manufacturing process. In terms of social responsibility, companies can ensure that they follow all standard operating procedures during manufacturing and fulfill employee rights. In terms of governance, companies need to comply with government policies and operate their businesses ethically.

@AlanKLNg28 Yes. Mirzan Bin Mahathir owned the company

@gohkimhock, these incentives have led to Farm Fresh incurring effective tax rate in Malaysia of 5.1% in FYE 31 March 2019, 5.8% in FYE 31 March 2020 and 8.5% (excluding impact of the tax reversal of RM 10,490,033) in FPE 30 September 2021, respectively which were lower than the Malaysian statutory tax rate of 24.0% for each of FYE 31 March 2019, FYE 31 March 2020 and FPE 30 September 2021.

Farm Fresh voluntarily sought clarification on 5 October 2020 from the MOA on the tax exemption status of the Larkin facility, they were informed that they were in bread of the Expansion Notification Requirement.

For more information regard the LPD you may refer Prospectus part 2 pg 292 & 293

@VTrade The company is not tax-free company. Farm Fresh has the company has been granted tax incentive (Agricultural Tax Incentive) under MOA and East Coast Economic Region Incentive for income earned from dairy milk processing activities.

As the management disclose, these incentives have led to Farm Fresh incurring effective tax rate in Malaysia of 5.1% in FYE 31 March 2019, 5.8% in FYE 31 March 2020 and 8.5% (excluding impact of the tax reversal of RM 10,490,033) in FPE 30 September 2021, respectively which were lower than the Malaysian statutory tax rate of 24.0% for each of FYE 31 March 2019, FYE 31 March 2020 and FPE 30 September 2021.

For more information regard the tax incentive you may refer Prospectus part 2 pg 292.

For the PE36x, according from IPO report

For illustration purposes only, assuming the Additional Tax Liability of RM 25,708,582 and the Larkin Facility Tax Incentive (as defined above) of RM 10,490,033 is allocated to respective financial year/periods, the adjusted consolidated PAT for the financial years/periods indicated would be as follows.

Consolidated PAT: RM 32,828 mil + Reallocation of additional tax liability: RM 25.709 mil +Reallocation of tax reversal: RM 10.490 mil = Adjusted PAT: RM 69.027 mil.

More information on the tax incentive you may refer: Farm Fresh - Prospectus (Part 2) Pg 292

Hi @gohkimhock, here is the clarify for the Tax expense, there are 2 type of tax expenses which is "Current tax and deferred tax" & "Additional tax for prior years".

The current tax and deferred tax :
FYE 2021: RM 9.05 mil
FYE 2020: RM 1.79 mil
FYE 2019: RM 804k

The additional tax for prior years
FYE 2021: RM 25.70 mil
FYE 2020: -
FYE 2019: -

The additional tax is one off tax, therefore we only exclude the RM 25.70 mil of additional tax for prior year to get the adjusted figure under the margin part.

The one-off liability and penalty amounting to RM25.7 million for the years of assessment (YA) 2014 to 2020 ? which was recognised in FY2021 ? is in respect of non-approved locations for certain milk processing plants located in Larkin. (Source: theedgemarket)

@EatCoconutCanWin PE 70 including the one-off tax payment. The adjusted PE should around 36 times

This values the company at approximately 69 times its FY2021 (ended March 31) profit of RM36.2 million and 36 times its adjusted profit of RM69 million, after taking into consideration factors that include one-off tax liability expenses which are not part of its core earnings.

Source: theedgemarkets

IPO - Farm Fresh (Part 2) Analysis & MQ Trader Views
Is Farm Farm IPO worth to apply?

IPO Farm Fresh Part 2: https://klse.i3investor.com/web/blog/detail/mqipo/2022-03-02-story-h1596586016-IPO_Farm_Fresh_Part_2_Analysis_MQ_Trader_Views

Hi @kyappc, Kyabram Facility is fully automated, with a control centre that oversees and manages the entire
process flow from the receiving of raw milk to packaging, palletising and exporting to the Malaysian processing facilities.

@Cipta Sure, we will add this information into our part 2 analysis blog. Stay tuned ya !

Hi @zulhairi, you may check the full report from the Bursa website or you may stay tuned on part 2, we will write down our analysis about this IPO

VenFx! Hi there! Thanks for your view! We will be releasing our MQ Trader view on our Part 2 blog.

Stay tune for our MQ Trader view on our upcoming Part 2 blog!

@moneyaddicted90 You can sign up via https://apms.mqtrader.com/apms/acc/signup. Alternatively, you can contact us by email to us at affiliate@mqtrader.com.

Hi Stanley1979, MQTrader will have workshop in KL soon!