Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-03-03 07:10 | Report Abuse

This post just shows why calvintaneng is such an unintelligent Investor as defined by Benjamin Graham in his classic book, “The Intelligent Investor”.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-03-03 07:14 | Report Abuse

Are You an Intelligent Investor?
Graham believed someone could be an intelligent investor in two ways:

ACTIVE OR ENTERPRISING INVESTORS - These types of investors have a lot of time to spend on building and managing their portfolios and also have a high risk tolerance. They must continually research, select, and monitor a dynamic mix of stocks, bonds, or mutual funds.

PASSIVE OR DEFENSIVE INVESTORS - These types of investors don't have a lot of time to spend on a portfolio or can't tolerate much risk. They must create a permanent portfolio that runs on autopilot and requires no further effort. This type of passive portfolio won't be very exciting, but it will get you steady returns over your lifetime.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-03-03 07:20 | Report Abuse

Strong, thorough research is the most important part about owning stocks. (Benjamin Graham)
The Intelligent Investor by Benjamin Graham


There’s one big underlying theme to this book. Yet, it keeps coming to the forefront again and again. It’s the one point that I believe Graham wants people to take home from this book.
Strong, thorough research is the most important part about owning stocks.
If you can’t – or aren’t willing to – put in a lot of time studying individual stocks, identifying ones that genuinely have potential to return good value to you over time, and keep careful tabs on those individual stocks, then you shouldn’t be investing in stocks.
Over and over again, Graham makes this point, in both obvious and subtle ways. He’s a strong, strong believer in knowing the company. If you don’t have clear, concrete reasons for buying a stock, then you shouldn’t be buying that stock, period.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-03-03 07:33 | Report Abuse

What does intelligent means in investing?

Benjamin Graham

Intelligent investor: this is an investor "endowed with the capacity for knowledge and understanding."

Intelligent here is not to be taken to mean "smart" or "shrewd" or gifted with unusual foresight or insight.

The intelligence here presupposed is a trait more of the character than of the brain.


The first rule of intelligent action by the enterprising investor must be that he will never embark on a security purchase which he does not fully comprehend and which he cannot justify by reference to the results of his personal study or experience.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-03-03 07:51 | Report Abuse

Profits of Malaysian plantation companies are heavily influenced by external factors

Conclusion:

Profits of plantation companies are affected by crude palm oil (commodity) prices which are heavily influenced by many external factors:

- seasonal fluctuation on palm oil production,
- weather conditions
- availability of supply of other major vegetable oils e.g. soya
- labour supply in oil palm plantations' FFB harvesting and unloading activities.
- strength of the ringgit
- increase in the oil palm productive areas
- tariffs for palm oil products

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-03-03 07:53 | Report Abuse

December 30, 2022

CPO expected to average at RM5,100 a tonne in 2022, seen at RM3,800 a tonne in 2023, says MPOB.

Posted by gladiator > 2023-03-03 08:51 | Report Abuse

KUALA LUMPUR (March 2): Fitch Solutions Country Risk and Industry Research has held unchanged its near-term palm oil price forecasts of annual averages of RM3,800/tonne through 2023, with upside risks, and RM3,400/tonne through 2024.

Posted by gladiator > 2023-03-03 08:51 | Report Abuse

Fitch Solutions said it sees prices falling to RM2,200/tonne in 2027 alongside a gradual loosening of the global production balance, on the back of a continued decline in EU palm oil demand, while noting downward pressures on production growth in Indonesia and Malaysia.

Posted by calvintaneng > 2023-03-03 10:17 | Report Abuse

Cannot trust Fitch as Fitch is against Malaysia in general and against palm oil in particular

Just as Usa got nothing good to say about China so Fitch has nothing good to say about palm oil

Posted by calvintaneng > 2023-03-03 10:18 | Report Abuse

Should ask palm oil co Ceo, Cfo,
Coo, Accountants, Secretaries as they are in the industry

Posted by calvintaneng > 2023-03-03 10:21 | Report Abuse

This was what Mr Shane the spoke person of ijmplant said

"At this time when cpo is rm4000 all palm oil co bosses should be happy

Not long after Klk took ijmplant private at Rm3.10(,from Rm2.20)

Posted by calvintaneng > 2023-03-03 10:23 | Report Abuse

And Km loong people said they will be happy if cpo is Rm3000

Their cost of cpo production Rm2200

Posted by TreeTopView > 2023-03-03 10:25 | Report Abuse

Perhaps the KLK CEO's opinion may hold more weight than some others.
An extract from him in the very recent quarterly:

"Prospects
Current palm oil market appears to remain uncertain, influenced by trade policy changes in
both consuming and producing countries, lingering geopolitical tensions that could still impact
commodity prices and concerns on global economic performance. Notwithstanding its
discount to soybean oil, palm oil prices have eased considerably from the historically high
levels seen recently. Profitability contribution from plantation segment is expected to soften
for FY2023.
The Group remains focused to boost productivity and improve the fresh fruit bunches and
crude palm oil (“CPO”) yield to mitigate the impact of rising costs."

Posted by calvintaneng > 2023-03-03 10:25 | Report Abuse

Mr Megat Rizal of Thplant said in year 2020/1

Even Cpo at Rm2500 Thplant can make money

That was in 2020 when Thplant cost was Rm1,465

Although cost has gone up Cpo now is Rm4200

No wonder Thplant gave 1.5 sen dividend twice

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-03-03 10:25 | Report Abuse

My friend was elated. Bumper income from his 100 acre plantation for a few months last year.

Another friend with 10,000 acres of oil palm plantation remarked it was painful seeing the fruits rot on the trees during the high price period as there was a shortage of labour in his plantation.

This month, my friend with a 3000 acre plantation mentioned he had a great income last year due to the very high price of palm oil and he does not expect to witness the same this year.

Posted by calvintaneng > 2023-03-03 10:27 | Report Abuse

TreeTopView

Klk might be afraid of windfall tax which happened to glove

So they tone down

Posted by TreeTopView > 2023-03-03 10:29 | Report Abuse

What windfall tax are you talking about?

Posted by calvintaneng > 2023-03-03 10:29 | Report Abuse

As we know

Insiders of palm oil are all buying

Wilmar
Umalacca
Tsh
Taann
Sop
Swkplant

Epf also buying

Simeplant
Ioi corp
Klk

All are sanguine

Posted by calvintaneng > 2023-03-03 10:30 | Report Abuse

Also Morgan Stanley has chosen Tsh and Taann to be in its Msci Malaysia

Posted by calvintaneng > 2023-03-03 10:31 | Report Abuse

Go study the cash accounts of palm oil co one by one

Like reservoir their coffers are filled to overflowing

Posted by TreeTopView > 2023-03-03 11:03 | Report Abuse

It appears you may have missed my question, so I will repeat it.

What windfall tax are you talking about?

Posted by calvintaneng > 2023-03-03 11:21 | Report Abuse

Last time when gloves reported high profits and turned bullish

Ex Pm Muhyiddin imposed Rm400 millions tax on Glove co to help felda

Posted by brandon99 > 2023-03-03 11:47 | Report Abuse

When is this going to come? All stocks will cost 0 cent to buy? Very excited.

Posted by TreeTopView > 2023-03-03 11:47 | Report Abuse

I am totally baffled and confused by your response to my original post, which was the summary by the KLK CEO of his thoughts on palm oil for the remainder of 2023. Keeping in mind, the CEO Tan Sri Lee Oi Hian lives and breaths the palm oil business and is one of the most highly regarded figures in the industry by his peers.

He cited his tangible reasons why he was uncertain about palm oil this year and at no stage did he even hint at the slightest concern that the government may introduce a windfall tax.

There has also been no other palm oil company CEO mention this either. I put it to you that if there had been any whispers of this happening, that the palm oil companies would be putting their lobbyists into top gear to diffuse the matter.

It appears, to me anyway, that it is only you who engaging in this windfall tax commentary.

To cite your backup reason that a previous government did it to glove companies could mean it could happen to companies such as KLK is pure folly.

Glove companies such as Top Glove and Harta were making massive quarterly profits in the regions of Rm2 Billion to RM4 Billion due to a worldwide pandemic, which has absolutely no relation to the profits of palm oil companies. To attempt to compare both industries is totally reckless, imo.

It might be advisable to stop shooting comments out from the hip on matters that should be left to the real professionals in the palm oil business, such as the very highly respected Tan Sro Lee Oi Hian.

Posted by calvintaneng > 2023-03-03 12:14 | Report Abuse

should go see others

see Tsh comments

Posted by anthonytkh > 2023-03-03 12:20 | Report Abuse

I ain’t never gonna go back to visiting the TSH thread, no thanks to you and a few others. What a public toilet of a thread at TSH

For you to say KLK will tone down due to windfall tax is so fcking ridiculous that I think you really need to visit a shrink. Omg, jeez…

Posted by calvintaneng > 2023-03-03 12:43 | Report Abuse

From TSH Resources AR

Prospects

Commentary on the prospects
CPO price declined to around RM3,300 per MT at third quarter end and have since stabilised in
recent times and is currently trading at around RM4,000+ per MT. However, CPO price outlook
is uncertain, weighed down by concerns over global economic slowdown and the strict COVID19 measures in major importer, China, while at the same time buttressed by high energy prices.
Raw materials price inflationary pressure mainly caused by the Russia-Ukraine war is also a
serious challenge for the oil palm industry. Barring any unforeseen circumstances, the Group is
optimistic of achieving satisfactory performance for year 2022.
Moreover, underpinned by its strong financial position, the Group is confident to weather
through the headwinds and challenges in the years ahead.
The Board also remains optimistic on the long term prospect of the palm oil industry.
Restrained hectarage growth in oil palm planting over the last few years due to RSPO
regulations and Indonesian Government’s moratorium on deforestation will have an impact over
the global palm oil supply. Global population and per capita income growth as well as the many
health qualities of palm oil are expected to drive greater demand for palm products. This augurs
well for the Group as palm products segment will remain the core contributor to the Group
profit.

Posted by calvintaneng > 2023-03-03 12:44 | Report Abuse

the Group is
optimistic of achieving satisfactory performance for year 2022.

Posted by calvintaneng > 2023-03-03 12:44 | Report Abuse

Moreover, underpinned by its strong financial position, the Group is confident to weather
through the headwinds and challenges in the years ahead.
The Board also remains optimistic on the long term prospect of the palm oil industry.

Posted by calvintaneng > 2023-03-03 12:44 | Report Abuse

The Board also remains optimistic on the long term prospect of the palm oil industry.

By TSH

Posted by calvintaneng > 2023-03-03 12:45 | Report Abuse

Global population and per capita income growth as well as the many
health qualities of palm oil are expected to drive greater demand for palm products. This augurs
well for the Group as palm products segment will remain the core contributor to the Group
profit.

Posted by calvintaneng > 2023-03-03 12:48 |

Post removed.Why?

Posted by calvintaneng > 2023-03-03 12:50 | Report Abuse

JAYA TIASA

Group’s Prospects
On the back of upcoming seasonally low production cycle coupled with stable demand for crude
palm oil with its current attractive discount against other edible oils and impending increase in
Indonesia’s mandatory Biodiesel 35 (B35) program, the Group expects the average CPO prices to be
supported over the next few months.
In facing the global economic challenges, inflationary pressure and labour shortages in Malaysia, the
Group remains focused on stringent cost control and improving productivity to ensure profitability.
Barring any unforeseen circumstances, the Group anticipates satisfactory financial performance for
the remaining period of the current financial year.

Posted by calvintaneng > 2023-03-03 12:51 | Report Abuse

TH PLANT

Prospects
The Group’s overall positive performance for the financial year ended 31 December
2022 was largely supported by the favourable prices of palm products and the on-going
progress of our Transformation Plan.
The impact of the pandemic and the Russia-Ukraine conflict continue to influence world
commodities, economic conditions, and inflation. Crude palm oil prices reached record
high in March but remained volatile throughout 2022. The favourable prices throughout
2022 helped to compensate the impact of labour shortage and higher operating cost.
The Group continues to give emphasis on strengthening its operations and
sustainability, focusing on operational efficiency, effective cost management, good
agronomic practices, rehabilitation, replanting, and mechanisation programs in
mitigating the on-going challenging operating environment.
Barring any unforeseen circumstances, the Group expects the palm oil prices to remain
favourable in the first quarter 2023 given the shortage of edible oils around the world
and the impact of unresolved labour shortage .

Posted by calvintaneng > 2023-03-03 12:52 | Report Abuse

Prospects
The Group’s overall positive performance for the financial year ended 31 December

OVERALL

POSITIVE PERFORMANCE

Posted by calvintaneng > 2023-03-03 12:54 | Report Abuse

BPLANT

Prospects for the Coming Year
Prices of palm products in 2023 are expected to stabilise after a volatile market in 2022. Stock levels
in Malaysia and Indonesia are expected to increase following an expected increase in mature areas,
better weather conditions as well as improved labour supply.
However, the global economy is expected to face significant challenges in 2023. The growth outlook
is expected to be lower this year in reaction to the persistently high inflation.
Barring any unforeseen circumstances, the Group is cautiously optimistic on its 2023 production as
labour supply are expected to recover, supported by ongoing efforts to mechanise, automate, and
digitalise operations.

Posted by calvintaneng > 2023-03-03 12:54 | Report Abuse

Barring any unforeseen circumstances, the Group is cautiously optimistic on its 2023 production as
labour supply are expected to recover, supported by ongoing efforts to mechanise, automate, and
digitalise operations.

Posted by calvintaneng > 2023-03-03 12:55 | Report Abuse

CAUTIOUSLY OPTIMISTIC

Posted by calvintaneng > 2023-03-03 12:56 | Report Abuse

FGV

Prospects
FGV’s crude palm oil (CPO) price had reached an average of RM4,832 per metric tonne in FY2022 on the
back of prolonged Russia-Ukraine conflict and shortage of labour as well as lower palm production and
other soft oil supply. Going into first quarter of 2023, the CPO price is supported by Indonesia's higher
biodiesel mandate and tighter export policy despite the anticipated global recession.
The Plantation Sector’s intensified recruitment efforts made throughout the year 2022 had successfully
reduced the shortage of foreign workers from 32% to 13%. The Sector will continue to improve its operation
through mechanisation and replanting programmes as well as implementing cost optimisation initiatives to
manage rising operational costs and energy prices.
The Group remains steadfast in its commitment to the sustainability agenda. On the Withhold Release
Order (WRO) suspension, our independent assessor has completed its site assessments and FGV will put
their recommendations into action and will soon submit the final report to the U.S. Customs and Border
Protection (CBP).
The Sugar Sector continues to face challenging environment due to high input costs despite stronger
demand from the market and will remain focused on higher yields and capacity utilization. Meanwhile,
Logistics Sector continues to explore opportunities for market expansion while enhancing its operational
efficiency.
Barring any unforeseen circumstances, the Group expects to perform satisfactorily in financial year 2023
in line with the projected favourable CPO price movement.

Posted by calvintaneng > 2023-03-03 12:59 | Report Abuse

SIMEDARBY PLANT

Prospects
Operating profit and finance costs
Included in the operating profit are:
Variance of actual profit from profit forecast or profit guarantee
There was no profit forecast or profit guarantee issued during the quarter under review.
Crude palm oil (CPO) prices are expected to remain steady for the first quarter of 2023 on the back of continued strong
demand due to the considerable price advantage when compared to alternative oils and supply concerns resulting from
Indonesia’s anticipated higher biodiesel mandate as well as tighter export policies.
As the country’s labour shortage continues to be addressed with the arrival of more foreign workers into Malaysia,
particularly harvesters, the Group expects its Fresh Fruit Bunch (“FFB”) production in Malaysia to improve in 2023 after a
challenging two years.
Year ended
31 December
Quarter ended
31 December
However, demand may be impacted by the global economic outlook which remains wary, because of continuing geopolitical
uncertainties, stricter ESG policies, and inflationary pressures from high food and energy prices. Nevertheless, the Group is
cautiously optimistic mainly due to its well-established strategies to address ESG issues, and ongoing efforts to mitigate such
challenges. The Group has also ramped up operational improvement initiatives to plug any leakages and reduce wastage.
Barring any unforeseen circumstances, the Group expects to perform satisfactorily in FY2023.

Posted by calvintaneng > 2023-03-03 13:00 | Report Abuse

cautiously optimistic

Posted by calvintaneng > 2023-03-03 13:04 | Report Abuse

TAANN
Current Year Prospects
Outlook for 2023 remains challenging with the prolonged Ukraine Russia conflicts whereas the world interest
hike and the global inflationary continue to soar.
On the positive note, in anticipating no extra production of palm oil as there is no new planting area and the
timber resource is getting scarce, we do not expect severe downfall of the global economy. As such, 2023 is
anticipated to progress positively.
The Group’s firm focus and emphasis on the sustainable management of resources and cost control measures
shall achieve its positive profit margins despite the worldwide inflationary pressure.
Barring any unforeseen circumstances, the Board of Directors anticipates a satisfactory financial performance
for the financial year 2023.

Posted by calvintaneng > 2023-03-03 13:05 | Report Abuse

On the positive note, in anticipating no extra production of palm oil as there is no new planting area

NOTE: NO NEW PALM OIL PLANTING AS HIGH BARRIER TO ENTRY

GLOVES LOW BARRIER TO ENTRY NOW GOT FIERCE PRICE WAR DUE TO GLUT

Posted by calvintaneng > 2023-03-03 13:06 | Report Abuse

shall achieve its positive profit margins despite the worldwide inflationary pressure.
Barring any unforeseen circumstances, the Board of Directors anticipates a satisfactory financial performance
for the financial year 2023.

Posted by calvintaneng > 2023-03-03 13:06 | Report Abuse

2 positives from TAANN

Posted by calvintaneng > 2023-03-03 13:14 | Report Abuse

FCPO NOW RM4332

Cost only Rm2000

More than 115% Profit



very good prospects

Posted by calvintaneng > 2023-03-03 13:15 | Report Abuse

PALM OIL

REAL EARNINGS

SOLID DIVIDENDS

STAY SAFEST

Posted by calvintaneng > 2023-03-03 13:29 | Report Abuse

another latest positive km Loong people exercising their warrants (not toxic call warrants by IB banks)

good sign

Posted by TreeTopView > 2023-03-03 13:32 | Report Abuse

Odd, you address my comments to you with a flood of posts, none of which address your comment about a windfall tax, which was the only question in point.

As I glanced through your flood of company extracts, I did notice the total lack of any company making statements about a bull run in palm oil prices, which seems to be your current flavour of the month.

But it appears that you know a lot more about palm oil pricing than industry players, especially the large capped companies who have a department that work full time on accessing the pricing and hedging of their palm oil production.

Oh well~~~~~~~

Posted by calvintaneng > 2023-03-03 14:51 | Report Abuse

A Rm400 millions from Gloves

See https://themalaysianreserve.com/2020/11/09/rm400m-is-one-off-donation-not-a-windfall-tax-substitution/