TH Plantations Bhd’s CFO Shahrizal Suhainy has resigned to pursue other career opportunities. In a filing with Bursa Malaysia yesterday, the planter stated the board is currently taking the appropriate action to find a suitable candidate to replace Shahrizal, 38, and will make the appropriate announcement in due course.
Prior to joining TH Plantations as the CFO, Shahrizal had served KPMG PLT in various positions since June 2007 until September 2021. Last week, TH Plantations posted a RM14.4mil net profit or earnings per share of 1.13 sen for the third quarter ended Sept 30, 2022 on the back of RM213.4mil in revenue.
Thplant has taken fresh sukuk loan of Rm300 millions but stealthily settled a whopping Rm538 Millions loan
remaining debt is now only Rm890 millions (was Rm1 4 Billions not long )
Cash is Rm160 millions
loan less cash is Rm730'millions
Thplant has 7 estates for sale in Sarawak at Rm749 millions (by 12 months )
once sold Thplant will be debt free
Thplant total landbank is 240,000 acres
lands are still at old dirt cheap book value
example : Leasehold lands in Kemaman, Trengganu have a book value of only Rm4000 per acre (Malay Reserve land in Kemaman alone is worth Rm30,000 per acre ) leasehold lands are as high as Rm80,000 per acre
Since current loan has been now refinanced under non current sukuk loan the Rm160 millions cash is equivalent to 12.6 sen or about 26% cash since Thplant is only 48 sen
when Cpo was Rm2500 Thplant was profitable as it's cost of production was only Rm1,465
now that Thplant's cost of cpo production has gone up the Cpo price at Rm3500 is still good and profitable plus Thplant has huge lands planned for sale to unlock immense value
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
imvu
7,888 posts
Posted by imvu > 2022-11-01 13:18 | Report Abuse
siap sedia nak pump pom pump atas 0.600 !