No benchmarking is done in EMS sector against overseas peers. Anyhow pickup PER figure to work out FV.

Bursa IBs very smart one...simply picking up PER number from the sky. They come out very bullish technology counters research report without any benchmarking against the same sector in overseas market .

Investment in Bursa for long term has become a laughing stock in Bursa. Technology is the future is another gimmick to attract newbies. If you are really serious in technology counters, migrate to US semiconductor companies.

ESG is not a new problem in EMS. Market is aware of this issue since 6 months ago.

Retailers play with fund managers and sharks. Technology is the future... Whatever la...people would go to hide when fear is arrived. let them carry your bag in the end and enjoy the rewards.

Non stop promotions from the licensed analyst. Share price tumbled 20% in a single day is a wake-up bell in technology counters.

Ataims is a wake-up call to other technology companies. Their profit could be evaporated in huge portion for a single day when the company has reported an ugly QR. It looks fragile..

Maggi. 95 cents? Are you betting for the world economy collapse in the near future?

Hardly see one bad quarter able to crash a technology counter. I thought investors in technology don't look at short term like quarterly profit.

Finish washing?

洗刷刷!洗刷刷!洗刷刷!
https://youtu.be/UW047XUVeKI

Moving up at slower pace so that it won't attract too many short term traders.

You are right. The incremental levy of 1.5% is merely 5,325,000.

Posted by Johnzhang > Nov 8, 2021 12:18 PM | Report Abuse

I see your point . The FFB production figures of 350,000 mt initially assumed was wrong .
Based on FY 2020 FFB production of 710,000 mt and average CPO price of $4,500 , the revised calculations are :
Full year Windfall tax at existing rate : 1.5% x 710,000x (4,500-3,000) = $15,975,000
Full yearn Windfall tax at new rate : 3% x 710,000 x (4,500 - 3500) =$21,300,000
The difference is $5,325,000 .

Can you share your calculations how you arrived at $10.65 mil?

Additional 1.5% levy in FFB to Sarawak planters are ,in fact, won't have any impact to its bottom line. If the CPO prices stay at 4500/mt in 2022, TAAn generate huge cash inflow to pay off its debt. The interests costs savings will be more than the 1.5% levy.

Nothing new from the IBs. If a company sell all forward CPO from Jan 22 contract to Jun 22, the average CPO price for the 1st half also hit 4400 m/t la.

IBs allows the investors to play Technology and Transportation theme only. These 2 indices trending upward all the way. They are not happy if we play big sector like plantation and glove. Steel sector is up to us since the scale is too small. They are afraid of money exiting Technology sector.

https://www.theedgemarkets.com/article/sarawak-state-assembly-dissolved-effective-nov-3-says-abang-johari

Gap up today to cover gap down last Friday....beres!

Mchea. Canone's Trading arm is located in Singapore. The entire purpose is to centralise the export sales from its Malaysia's operations to overseas customers The Trading arm earns the differences between higher selling prices to customers and intercompanies purchases.

Maggi. Yup. It would move up at least at slower pace. No hurry to me.

Posted by maggigoreng > Nov 2, 2021 4:15 PM | Report Abuse

treasurehunt, both in tact, fa and ta, so just leave it, tp still far, come back when it's pass 2, PE so low still

IBs are targeting goreng technology sector only due to limited of funds. Therefore, they will keep dishing out substandard analysis in other sectors.

I focus in FA of the companies whereas my 5 year-old boy advising me on uptrend or downtrend in the chart. hihihi

I don't know. My young boy said it is uptrend. Hahaha

Local institution are the main culprit and don't give face the government and Finance Minister...

Local institution were mocking at Budget 2022 in the trade yesterday. Foreigners stay cool and Retailers picked up cheap tickets.

Jenny. 這個數據是蠻準確. LTH剩下7.65% 的股權是在26-10-21.

如果UMNO 能夠奪回政權肯定是對CMSB有利. 有一件事不大瞭解就是EPF拼命賣白毛的股票, CMSB和TAAn. 然而LTH只是賣一點點做個意思而已.

你了CMSB解情況就不會覺得貴. 不然2.0已經算天價了.

如果我是兩塊錢買CMSB. 看到股價一直往下衝. 我也會被嚇到暈倒. 哈哈哈哈

再添加CFO被辭退和GMD被提早退休。 又要聘請KPMG做個獨立調查關於財務和合同的問題. 表面看起來是出現大問題. 不明投資者不被嚇到尿尿也不可以.

這些一系列的事情就讓投資人聯想起Transmile 和 Serbadk. 如果不是這種情況出現, 哪來的便宜貨.

還有MPAS工廠運作已經延遲了幾年. 又加上去年一次註銷MPAS第二期投資. 表面看起來很多蟲. 投資者當然害怕囉!

其實CMSB 一大堆的的Associates也蠻複雜. 不翻開Annual Audited Accounts 看也真不懂是什麼回事. 還有一大筆Investment in Securities. 不知道實際情況之前我也感到有點怕怕. 這些到底是什麼東東.

投資者的聯想力是特別厲害. 無論消息是好是壞.他們都是朝往極端的方向前走. 這也很正常. 我們又不是頭一次遇到這種情況. 要賣就賣吧! 不要客氣喔!

Expect better earnings from the company next year and nothing else.

Johnzhang. Good one.

Pinky & Johnzhang. It could be a good news if like that since TAAN got many subsidiaries involving in palm oil plantation business.

If i were the operators, i also wanted to game over la. Hí hí hí

Anyway, it wouldn't have a big impact to TAAn. Max additional tax bill (prosperity tax 9% plus 1.5% levy) is 10% of the estimate net profit of 300 million in 2022.

I hope it would be up to companies level too. Hahaha

Temporary game over to short term traders... They would come back the game again in less than a month... Hahaha

Windfall tax could be applied up to group level. Overseas sources of income may not be included in windfall tax bracket.

As usual, big buy queue means down. Need to fill up the buy queue first .. Haha

With the same reckoning, better change to loss making plantation companies ie Harlen, NPC & TDM. These companies don't have any impact from the windfall tax.. Hahaha

Johnzhang. It would be impacted temporary by the overall weak market sentiments. People would let it lapse few days later.

With the CPO price 4500, TAAn would manage to make 300 million net profit.What is the impact of 2.6 million against 300 million net profit?

Hit hard for add 1.5%? Let say TAAN produce CPO about 350,000mt per annual and average price of CPO is 4500 per mt. Net additional tax is 2.625 million after deduction of increased in RM 500 threshold. ( 350,000 x [4500-3500-500]x 1.5%). Am i right?

Luckyboy88. I don't know the pricing structure of cements in Sarawak. Cement is a control item in Malaysia but CMSB managed to fetch 18% (2ndQtr 21) Net profit margins before tax whereas the players in West Malaysia are suffering losses or break-even.

LTA. Do you have any news about Cement price increase in Sarawak from this month onwards?

Jenny. 聽說從今天開始Sarawak cement售價漲. 有沒有這回事?