Posted by casanwk > 2021-10-27 15:02 | Report Abuse

Gogogo

Posted by calvintaneng > 2021-10-29 07:54 |

Post removed.Why?

Posted by treasurehunt > 2021-10-29 12:44 | Report Abuse

Habis cuci?

Posted by stockraider > 2021-10-29 13:44 | Report Abuse

Go for it loh!

Strong dividend stock, very defensive mah!

Posted by treasurehunt > 2021-10-29 15:01 | Report Abuse

Heavy buying volume and price down & vice versa... Same pattern.. Hahaha

Posted by treasurehunt > 2021-10-29 19:42 | Report Abuse

Budget 2022 good to TAAn?

The threshold for companies in Sabah and Sarawak, the largest palm oil producing states, will be increased to 3,500 ringgit from 3,000 ringgit, he said.

https://www.google.com/amp/s/mobile.reuters.com/article/amp/idINL1N2RP0T8

Posted by treasurehunt > 2021-10-29 19:58 | Report Abuse

The additional 9% windfall tax would be around 27 million if TAAn is able to achieve PBT 400 million in 2022. Hahaha

Posted by gemfinder > 2021-10-29 21:56 | Report Abuse

Fcpo up again

Posted by treasurehunt > 2021-10-30 00:29 | Report Abuse

Windfall tax is obviously targeted big corporations making billion profits in Banking, Telco, Gloves and Oil & Gas (Pchem & Petgas) and Tenaga.

Posted by Johnzhang > 2021-10-30 11:02 | Report Abuse

I think Taann will not be affected by cukai Makmur. Because the group profit are generated from 17 subsidiary companies in oil palm cultivation and milling , 10 companies in plywood /timber section. Each subsidiary companies PBT is likely to be below $100 mil.

Posted by calvintaneng > 2021-10-30 15:17 |

Post removed.Why?

Posted by ronniedem > 2021-10-30 19:13 | Report Abuse

Will the tax increase for plantation companies as mentioned in budget 2022, affects plantations earning much?

Posted by calvintaneng > 2021-10-30 22:43 |

Post removed.Why?

Posted by OnTime > 2021-10-31 17:24 | Report Abuse

yes, east malaysia planters will get hit hard according to kenanga (there was a video is out somewhere yesterday and he specifically mentioned taann).

Posted by Nepo > 2021-10-31 18:35 | Report Abuse

https://www.theedgemarkets.com/article/sabah-sarawak-palm-oil-players-cry-foul-over-doubling-windfall-profit-levy-rate
Bad bad bad news

Posted by treasurehunt > 2021-11-01 08:44 | Report Abuse

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?

Posted by treasurehunt > 2021-11-01 08:51 | Report Abuse

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?

Posted by Johnzhang > 2021-11-01 08:59 | Report Abuse

@ treasure hunt, you are exactly correct !
Windfall tax at existing rate : 1.5% x 350,000x (4,500-3,000) = $7,875,000.00
Windfall tax at new rate : 3% x 350,000 x (4,500 - 3500) =$10,500,000.00
The difference is $10,500,000 - 7,875000 = 2,625,000.00
The increase of $2.625 mil is very minimal .
People including the analysts fail to see that the impact of higher rate is mitigated by the threshold price increase .
Plantation in WM benefited from the change .

Posted by treasurehunt > 2021-11-01 09:16 | Report Abuse

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

Posted by Johnzhang > 2021-11-01 09:50 | Report Abuse

Fully agreed ! It's the market sentiment issue . Good opportunity to top up on price weakness

Posted by markgold > 2021-11-01 09:59 | Report Abuse

Better change to smaller plantation stocks e.g. MHC, cepat. Net profit less than RM100 million no additional tax.

Posted by treasurehunt > 2021-11-01 10:03 | Report Abuse

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

Posted by Johnzhang > 2021-11-01 10:07 | Report Abuse

Better don't invest in stock and don't have to worry about paying taxes . Hahahaha..,

Posted by Johnzhang > 2021-11-01 10:13 | Report Abuse

I top up Taann at $3.15 .

Posted by Johnzhang > 2021-11-01 10:16 | Report Abuse

@ Stockfreak , can you show us your calculations how you get the 25%? We hope to learn from you .
-------------------//--------------------------------
Stockfreak. :Around 25% of profit will be affected by the new tax.

If the stock price gets a 25% discount, it is a good buy.

Posted by stockfreak > 2021-11-01 10:20 | Report Abuse

My mistake. I did not calculate it right.

Posted by titan3322 > 2021-11-01 11:30 | Report Abuse

Didn't I say the only negative thing about Taan is the WFT now is WTF but I am still accumulating bcoz it us still the best stock to invest irrespective of WTF the gomen is doing !

Posted by treasurehunt > 2021-11-01 11:30 | Report Abuse

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

Posted by Invest_888 > 2021-11-01 11:56 | Report Abuse

This week stock market sentiment leads by 33% tax rate. Hard to gain confidence this week & even until the end of 2022 esp the foreign investors. Really a bad policy, never think of the increment is too high.

Posted by Johnzhang > 2021-11-01 13:18 | Report Abuse

I think it is just a knee jerked reaction. The dust will settled in 1-2 days. Cukai Makmur is most misunderstood. The higher tiered rate at 33% doesn't mean company will pay 9% more . Most companies are structured into multiple subsidiary companies either by business unit , regions , country or equity JV. Effectively, only subsidiary companies generating more than $100 m PBT will pay more . In the overall to the Group , the impact is well below the 9% increase .
The most affected are the big corporation in banking , O&G, telecommunication , gloves or corporations with high concentration in one entity .

Posted by treasurehunt > 2021-11-01 13:23 | Report Abuse

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

Posted by Johnzhang > 2021-11-01 13:33 | Report Abuse

I doubt so . Tax is always at company level .

Posted by treasurehunt > 2021-11-01 13:39 | Report Abuse

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

Posted by treasurehunt > 2021-11-01 13:42 | Report Abuse

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.

Posted by Pinky > 2021-11-01 13:44 | Report Abuse

For the non-finance professionals

Malaysian corporate tax is calculated and charged at COMPANY/ENTITY level

Posted by treasurehunt > 2021-11-01 13:47 | Report Abuse

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

Posted by Johnzhang > 2021-11-01 13:48 | Report Abuse

National Budget Office director Datuk Johan Mahmood Merican said the government is committed to ensuring that the utilisation of Cukai Makmur was transparently disclosed given that it is intended as a one-off tax to help support some of the increased requirements of COVID-19 health crisis.

"Our tax system is actually based on the company level. We do not look at the groups of companies as they will be taxed at an individual company level. In terms of utilisation, by law, all taxes go into a consolidated fund," he said on the BFM Radio’s Breakfast Grille programme today.

Posted by treasurehunt > 2021-11-01 13:49 | Report Abuse

Johnzhang. Good one.

Posted by CCWONG > 2021-11-01 13:51 | Report Abuse

Overall, the Average CPO price is still very high and any tax is secondary to the overall earnings.

Posted by titan3322 > 2021-11-01 17:20 | Report Abuse

32 Pts drop in bursa tells you a lot about the anxiety and frustration of investors foreign and local alike

Posted by titan3322 > 2021-11-01 17:33 | Report Abuse

markgold could be right better invest in loss making plantation co or those earning chicken feed amount of profit so they won't kena the cukai makmur(prosperity tax ) bcoz Taan is vey prosperous lor

Posted by CCWONG > 2021-11-01 23:24 | Report Abuse

Average CPO Price per ton for October 2021 is RM5,051.00.

Posted by Johnzhang > 2021-11-02 09:15 | Report Abuse

Yesterday's statistics

FBMKLCI: 1,530.92 (-31.39)
Bursa Trade Statistics:
Local Institutions (45.5%): -RM329.3m
Local Retail (31.3%): +RM314.3m
Foreign (23.2%): +RM15.0m

From the trades , Foreigners are not worried by the cukai Makmur, local institutions are! Mind boggling!

Posted by treasurehunt > 2021-11-02 09:39 | Report Abuse

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

Posted by treasurehunt > 2021-11-02 09:42 | Report Abuse

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

Posted by Johnzhang > 2021-11-02 10:14 | Report Abuse

IBs and many pessimist are relentlessly worried that CPO price will fall since the day CPO reached $3,000/- in 2020. CPO reached $5,350 now! Should investors be too concerned if CPO price correct down from today's level ?
I would like to share the year's high (H) , low (L) and the simple average (Avg) from year 2008 to 2021as below :
2008. $4179 (H) , $1403 (L) , $2791 (Avg)
2009. 2887,. 1630. 2259
2010. 3782. 2386. 3084
2011. 3930. 2786. 3358
2012. 3567. 2027. 2797
2013. 2635. 2157. 2396
2014. 2917. 1933. 2425
2015. 2360. 1802. 2081

2016. 3243. 2181. 2712
2017. 3344. 2338. 2841
2018. 2555. 1718. 2137
2019. 3025. 1834. 2430
2020. 3835. 2021 2928
----------------------------------------------------
Avg. 3251. 2017. 2634
----------------------------------------------------
2021YTD 5395. 3471. 4434

2021's H is 29% higher than the highest H (2008)
2021's H is 66% higher than the avg H 2008-2019
2021's L. Is 147% higher than the lowest L (2008)
2021's L is 72% higher than the avg L 2008-2019
2021's Avg is 68% higher than the Avg 2008-2019.

Despite the above , all plantantion counters stock prices are 20-50% below the highs achieved in 2008 -2020 period . Mind boggling indeed.

So, why should there be worries if CPO price indeed correct for 10-20% next year ??
02/11/2021 9:54 AM

Posted by titan3322 > 2021-11-02 16:08 | Report Abuse

I just read Moody's forecast for 2022 oil palm prices are between RM 2800 to RM 3200 hehe. I would safely add another 1K to it ie RM 3800 to RM 4200

Posted by Pinky > 2021-11-02 21:32 | Report Abuse

Those ANALysts have been predicting CPO falling for whole of 2021...yet how much it is now?

Posted by treasurehunt > 2021-11-02 21:36 | Report Abuse

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

Posted by calvintaneng > 2021-11-03 04:01 |

Post removed.Why?