(d)3. During the financial period ended 31 December 2021, the oil palm operations recorded a pre-tax profit of RM165.5 million (2020: RM24.8 million) as disclosed in Note 38 to the financial statements, and contributed to net operating cash inflows of RM162.5 million (2020: RM43.8 million). The boosted profit and cash flows contribution to the Group’s oil palm plantation segment was attributed to the commendable yield improvement for the financial period, as well as the strengthening of average crude palm oil (“CPO”) price, which is expected to sustain for the next 12 months. We draw attention to Note 5 in the financial statements, which indicates that as at 31 December 2021, the Group’s current liabilities exceeded its current assets by RM393.8 million. Barring any unforeseen circumstances, management has a reasonable expectation that the Group will generate sufficient cash flows for the next 12 months to allow it fulfilling its obligations as and when they arise. Accordingly, the financial statements of the Group have been prepared on the going concern basis.
Above quoted from the annoucement of Audit report. Subur have current liability exceeded current asset by RM393.8mil as at 31/12/2021 (2020 : RM458.30) which is narrowing in figure. Subur in 2021 generate positive operating cash flow of RM162.5mil. And management said that they have reasonable expectation that the group will generate sufficient cashflow for the next 12 month... Does is mean that in 2022 the group will generate RM398mil of cash flow? which is more than doubled from 2021 ? Any auditors here?
No cash flow problem, it is current liabilities more than current asset. In the report the management said still have unutilised RM172.4 mil credit facility. The auditor is just raise the concern,. In 2020 the group already have similar issue but auditor didn't raise? Why raise at this time when CPO price is so high. Coming QR sure profitablity more than previous quarter.
To say that the company will be PN 17 company is totally irresponsible and uncalled for. For goodness sake, please do not deceive or unknowingly cause people to panic and sell the share in the company. The total borrowing in current liabilities refers to bank borrowings that are either overdraft or revolving credits provided by banks. This borrowings are normally for working capital and not for capital expenditure. The company also has more than 100 million of undrawn credit line from bank. Meaning a good amount of buffer for working capital. Coupled with positive cash flow from business, the borrowing level is not at alarm level. So, it is beyond comprehension, for someone to say that it will fall in PN 17. The company strong and valuable underlying assets can also be sold if needed. Even in a recession time, the company will not fall into PN 17 for all the reasons mentioned.
Refer to the recent sales of plantation assets by IJM Plantation an TSH. Plantation land are valuable and hedge against inflation. With positive outlook on palm oil industry and stable timber sector, how is it that the company is bad to invest. I petty naive retail investors getting wrong information. On the comment by auditor, it is just a qualification which is not a warning that the company is going down the hill.
My important observation is that the company reported 16.15 sen EPS is for 2 months instead of 3 months because the company wanted to change its financial year from ending in July to December. Its next quarter ending March should be much better which will be announced before the end of May. I am waiting patiently to laugh all the way to the bank. Koon Yew Yin
If current cpo prices remain firm, the estates' yield of SUBUR should be much better for Apr-Jun22 quarter. I expect SUBUR to report record eps. Let's hope the owners distribute bonus shares to reward loyal shareholders this year, cheers.
2021 annual report shows Dr Neoh Soon Kean of Dynaquest is one of the 30 largest shareholders of Subur Tiasa. Those who do not know Dynaquest can Google to find out. I feel so sorry to know that there so many ignorant people making so many senseless comments. Koon Yew Yin
When comparing FFB production between different companies here, one must use their heads. Comparison must be based on the volume of crop produced against the paid up capital of the company concerned. In short, you must compare apple with apple. The eps will reflect the true earnings of each company versus the next based on current high cpo price. Talking about how large a company here makes no sense. It only shows how naive the person is.
guys, Uncle will talk in a PAID workshop teaching people how to invest. What a joke! will anyone be so S*hai to pay to listen to his crap. look at Subur and all his previous comments in i3. hahaha. make my day
he is the biggest con artist here, he shouldn't talk about investment, he should talk about how he is so shameless and do things that will curse his family for generations as he misled so many fresh investors.
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....