KLSE (MYR): CBIP (7076)

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Last Price


Today's Change

+0.02 (2.15%)

Day's Change

0.95 - 0.95

Trading Volume


6 people like this.

2,162 comment(s). Last comment by frankco 3 weeks ago


628 posts

Posted by i3gambler > 2020-07-14 19:46 | Report Abuse

Treasury shares:
1) Cancel:
It means the company is healthy, not short of cash.
2) Give to Shareholder:
It is kind of mini bonus issue, wasting administration work, creating odd lot, I don't like.
3) Sell back to market:
It is kind of private placement, get additional cash for development.


238 posts

Posted by Knownfact > 2020-07-15 12:28 | Report Abuse

Yes, cancellation of treasury shares will improved the NTA/share.

Liquidity in the company is good at 144mil cash. 200 mil loans is manageable.

Capex is not high beside the development expenditure for plantation.

The Rm40mil sale proceed from disposal of property will ease the cashflow too.


238 posts

Posted by Knownfact > 2020-07-15 15:24 | Report Abuse

TPGOG owns a refinery (i.e.pre-treatment) plant with a capacity of 120,000MT/year which have been fully operational since the beginning of
2020 and a biodiesel plant with a capacity of 134,000MT/year which is currently undergoing refurbishment and itis targeted to be fully operational in July 2020 barringany unforeseen delays.

This is a cutting of the chairman statement in the AR.

"In the segmental information of the Q report last month, it is good to note that the new segment (Biofuel/Refinery plant) has a revenue of 22.931 mil that generate a profit of 2.322 mil." only refers to the refinery plant and NOT the biodiesel plant. The revenue & incomes should be quite consistent and doesn't subject to price fluctuation.


238 posts

Posted by Knownfact > 2020-07-21 16:07 | Report Abuse

CPO future seems to stabilized above 2,600 in Q3. If plantation segment fall to red in Q2, it should recover in Q3


238 posts

Posted by Knownfact > 2020-07-24 10:43 | Report Abuse

Last SBB was at 96.5 on 12/6/2020.

After that the share price started to fall back to 88 despite the fact that CPO was on the raise substantially.

Does this counter only rely on SBB to support its price????

Are they waiting for the AGM on 30/7 before they start SBB again?


1,742 posts

Posted by Davidl > 2020-07-27 14:52 | Report Abuse

Finally back to uptrend!


238 posts

Posted by Knownfact > 2020-07-29 15:15 | Report Abuse

slipped back to downtrend?


238 posts

Posted by Knownfact > 2020-08-04 16:54 | Report Abuse

back to uptrend with vol


21 posts

Posted by liong5651 > 2020-08-04 20:37 | Report Abuse

Tomorrow break RM 1???


238 posts

Posted by Knownfact > 2020-08-06 16:47 | Report Abuse

Lack of follow through


238 posts

Posted by Knownfact > 2020-08-21 10:31 | Report Abuse

Big volume changing hands at 88 sens. What is going on?

Posted by wajatimur_28 > 2020-08-21 12:44 | Report Abuse

Yup..I am also monitoring it.. what's going on actually?


193 posts

Posted by sakurako > 2020-08-24 11:21 | Report Abuse

boarded 0.88


193 posts

Posted by sakurako > 2020-08-25 22:52 | Report Abuse

y it sink once i boarded :'(

Posted by wajatimur_28 > 2020-08-26 19:47 | Report Abuse

Relax bro...just take a seat...feel the ride roller coaster


193 posts

Posted by sakurako > 2020-08-26 21:37 | Report Abuse

waiting for its qr


238 posts

Posted by Knownfact > 2020-08-27 09:44 | Report Abuse

Most plantation companies are reporting very good results. Can't see any reasons why CBIP is not doing the same.


193 posts

Posted by sakurako > 2020-08-28 08:33 | Report Abuse

the qr should be out any time?


952 posts

Posted by kinuxian > 2020-08-28 10:56 | Report Abuse

CBIP is not pure plantation company. By and large still depend their engineering segment and palm oil contribution still relative small. Thus, CPO had limited benefit yet if compared to other plantation stock. MCO might impact their engineering segment instead. I might be wrong.

Do review their Q419 & Q120 performance, palm oil segment is relative disappointing even CPO price hit 2.8 - 3K during Dec 19 to Jan 20.

If you observed long enough, most of the spike was due to SBB, and slowly get pull back.

Posted by wajatimur_28 > 2020-08-28 18:15 | Report Abuse

Nice qr...ready for take off


19,070 posts

Posted by hng33 > 2020-08-28 20:07 | Report Abuse

first interim dividend 2 sen


628 posts

Posted by i3gambler > 2020-08-29 09:33 | Report Abuse

KLK announced on 26th August that they bought 17610 ha planted/plantable land (which 10816 ha planted+6794 ha plantable) in Kalimantan from TSH for USD110.1m, or about 4.2*110.1 = RM462m.

The market price for plantable land in Kalimantan is about RM500 per ha.

Therefore, the price for planted oil palm estate is about
= (462000000 - 500*6794) / 10816 = RM42400 per ha.

CBIP own 13502 ha planted oil palm in Kalimantan,

Assuming the same valuation, it worth = 13502*42400 = RM572m,

CBIP market cap = 492*0.9 = RM443m.


238 posts

Posted by Knownfact > 2020-09-01 10:03 | Report Abuse

I am so happy to see many constructive comments on this company.

CBIP plantation segment is still in its investment stage, A lot of its retained profit are put into this segment. I am not too worry about the losses incurred because it has to take care of the cost of planting the new acreage and maintaining the young palms. I hope this can explain why the performance in Q419 & Q120 as well as Q220 are disappointing.

This situation should improve as more palms are coming into maturity with CPO prices maintaining at current prices as evidence by the encouraging improvement in revenue.

'If you observed long enough, most of the spike was due to SBB, and slowly get pull back.' A very good observation by kinuxian. Not many IBs and or retail players are involved at the moment. The day will come.

BTW, SBB also means it is investing in itself. Confidence & patience shown by its management.

As mentioned by i3gambler, they are instead investing big in palm oil plantation. Another good piece of work by i3gambler. When and if they decided to devest from plantation, it will be a BIG rainfall profit to its loyal shareholders. Otherwise, the enhanced future earning from this segment will bring about dividend growth.

The first interim dividend of 2 sens is a pleasant surprise to me. A total of 4 sens equivalent to 4.4% dividend yield for this year will be good.

I am not too sure about the contributions from SPV, oil mill and refinery plant.


238 posts

Posted by Knownfact > 2020-09-02 13:55 | Report Abuse

Core Net Profit (CNP)? Both HLG & KENANGA use CNP which is lower than the actual Net profit to underestimate the earning power of CBIP. Both also came out with difference figures which show that they can manipulate the figures to support their wanted conclusion.

ATM, the POE is the core business. I think the importance of POE will be significantly reduced in the coming 2-3 years. Both in term of revenue &Earnings.

HLG gives a sum-of-parts derived TP of RM0.83 which is way below its reported NTAB of 1.46. We all know that the Kalimantan is worth more than that.

Kenanga is giving a higher TP of RM0.87 base on a PE of 11.8. Is it fair? I think that is up to individual to decide.


658 posts

Posted by TheSecret > 2020-09-03 10:38 | Report Abuse


Whoa !!!

Fcpo breaks new high everyday

Strong indicator of

Palm oil stocks

Bull Run on the way!!!

Load up kaw kaw now!!!


952 posts

Posted by kinuxian > 2020-09-03 15:35 | Report Abuse

CBIP is not a good proxy for CPO yet.


238 posts

Posted by Knownfact > 2020-09-04 14:19 | Report Abuse

For the period ended 30/6/2020, Plantation segment alone (excluding share of results of associates & JV) is 13% of the total revenue. This figure will increase significantly as more palms are planted and matured together with higher CPO prices.


628 posts

Posted by i3gambler > 2020-09-08 08:38 | Report Abuse

If the share price is undervalue for long time, I think the boss might take it private, we will lose a good company from Bursa.


238 posts

Posted by Knownfact > 2020-09-08 10:38 | Report Abuse

This share is definitely undervalue, just cannot quantify it. The boss has been ploughing back the retained profit for a long time by venturing into SPV, buying refinery, developing the Kalimantan plantation and SBB. My feeling is that it is about time to mature.

Yes, privatisation is a possibility. same as Batu Kawan. But I think the chance of Bkwan is higher. There are many other means that the boss can cash in later.


3,762 posts

Posted by lloydlim > 2020-09-20 14:04 | Report Abuse

Time to accumulate!


238 posts

Posted by Knownfact > 2020-09-21 10:12 | Report Abuse

GAP up. Both price & volume shot up.

Is it just a plantation play?

Posted by OldWiseMan100 > 2020-09-23 09:54 |

Post removed.Why?

Posted by FundaStronk > 2020-09-28 11:10 | Report Abuse

haiyaaa still not moving


238 posts

Posted by Knownfact > 2020-09-30 14:56 | Report Abuse

A first single tier interim dividend of 2 sen per share was announced on 28/8/2020.

No announcement on payment date was made until today.

How long more we have to wait ????


238 posts

Posted by Knownfact > 2020-10-06 10:56 | Report Abuse

Cancellation of 45,000,000 treasury shares. At the same time, doing SBB at current price.

Does it mean that the management is weeding out the weak shareholders at current price?


49 posts

Posted by ian0311 > 2020-10-06 10:57 |

Post removed.Why?

Posted by Mynihar Nihar > 2020-10-07 10:02 | Report Abuse

Salah satu cara untuk bawa keluar dari bursa.. company beli saham masa harga rendah

Posted by Kido Kikidodo > 2020-10-07 16:58 | Report Abuse

May I know what is advantage and disadvantage of share cancellation?


14 posts

Posted by soonkaren > 2020-10-07 17:00 | Report Abuse


Posted by Mynihar Nihar > 2020-10-08 19:49 | Report Abuse

Ada baik buruk ..


238 posts

Posted by Knownfact > 2020-10-09 12:37 | Report Abuse

Kido asked a very good question. I was hoping some sifu will enlighten us.

In my opinion, I think it is a good move. The EPS & NTA per share will increase & PE ratio will be lower. The current market price will looks cheaper. Unfortunately, the share trading system I'm using has not updated the figures.

Furthermore, I guess the company can start SBB more aggressively without having to get a new mandate from the shareholders.

I also notice that CB Lim has done some family shareholdings reshuffling to avoid a Mandatory General Offer.


628 posts

Posted by i3gambler > 2020-10-09 13:25 | Report Abuse

Apart from cancellation, the treasury shares can be:
1) Distributed to shareholder as dividend, kind of a mini bonus issue, creating unnecessary odd lot, in this case I think it imply that the company is in tight cash flow, not enough cash to pay cash dividend.
2) Sold back to the market, in this case I think it imply that the company need money.

CBIP decided to cancel the treasury shares, so I think it is meaning their cash flow is good.


238 posts

Posted by Knownfact > 2020-10-12 17:35 | Report Abuse

Coming ? Or just pushed up b4 dividend Ex?


898 posts

Posted by JayC88 > 2020-10-14 17:42 | Report Abuse

the time is now. hoot hoot.


1,742 posts

Posted by Davidl > 2020-10-19 12:54 | Report Abuse

Time to accumulate!


238 posts

Posted by Knownfact > 2020-10-22 10:24 | Report Abuse

Big boys lining up to buy? buyers out number by 4 to 1.


422 posts

Posted by Dangel > 2020-11-04 16:27 | Report Abuse

Time to accumulate?

Posted by KOHSIENFOOK > 2020-11-10 11:42 | Report Abuse

100%在印尼,不怕没员工,临时工一大堆。棕油价从7月回升至3千多,公司一直buy back。盈利会比上期好,还有可能暴涨。收收收 也是很少有种值股少过NTA,种值股里PE也是很低。这接下几季来,印尼,巴布新几内亚,利比亚合约要完成,还有等Q4完成售地收益都会增加盈利。这个是UMCCA说,2021财年的鲜果串产量会增加,因为印尼加里曼丹的油棕园收成增加、树龄有利及成熟地扩大。

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