Posted by soojinhou > 2016-11-23 13:26 | Report Abuse

I believe segmental profit does not include administrative charges, usually imposed by holding company to its subsidiaries, which typically eat up a significant part of the segmental profit. It is usually imposed in exchange for services such as accounting and it is needed to feed the people at HQ.

Posted by YiStock > 2016-11-23 13:26 | Report Abuse

for question 2: In previous Q report, it seems included. But in latest Q report, it does not seem included. That's why the segment profit lower than PBT. When it is not included, it did not appear too in item B8.

I may be terrible wrong, so i said pending verification

Posted by xuewen > Nov 23, 2016 01:11 PM | Report Abuse

Bother Yistock,

may be I rephrase my question to make it simple for you to reply with a "YES" OR "NO".

1. is forex gain taxable ? (yes or no)

2. is forex gain included in segment profit ? (yes or no )

Posted by YiStock > 2016-11-23 13:29 | Report Abuse

YiStock Wah...your word is too heavy. Please don't do so.

Refer expert for your currency gain/loss taxation matter here: (page 4) https://www2.deloitte.com/content/dam/Deloitte/my/Documents/tax/my-tax-espresso-august2015.pdf

Segment profit, does not include taxation, interest etc. It is not actual profit.

PBT is net net everything before tax.

You were saying Q2 & Q3 is different. I think you already captured the caution.

Posted by xuewen > Nov 23, 2016 01:06 PM | Report Abuse

brother Yistock,

I don't know how to to write and what to write.
I am begging you to explain to us why you think PBT can not be higher than segment profit . i believe many readers here will be very thankful to you if you are willing to share your knowledge
23/11/2016 13:16

Posted by YiStock > 2016-11-23 13:32 | Report Abuse

Some companies use operating profit, instead of segment profit, either one, i think they are not the net net PBT

Posted by Patrick13 > 2016-11-23 13:58 | Report Abuse

I also found that segment result is not consistent, sometimes PBT, sometimes PAT.

Posted by popo92 > 2016-11-23 14:16 | Report Abuse

Hmms, A12 details are maybe incorrect. The figures given were not match with B1 explanation also.

Posted by Alex Lim Jun Xiong > 2016-11-23 14:18 | Report Abuse

Icon8888, I need your advice on Johortin (whether to buy or stay sideline).

Posted by ezobear > 2016-11-23 14:24 | Report Abuse

“If the reason people invest is to make money, then in seeking advice they are asking others to tell them how to make money. That idea has some element of naïveté.” ― Benjamin Graham

Posted by mcheat > 2016-11-23 15:41 | Report Abuse

In Johotin's presentation for Q3, the segment results by business segment refers to profit after taxation. But their segment analysis by geographical segment is based on profit before taxation.

The Q3 numbers looks impressive, especially when compared to last year where they have very poor Q3. Actual growth may not be that big, considering they have achieved profit before taxation of RM9.7 million in Q3, 2012 and RM8.2 million in Q3, 2013.

Still an impressive results.

Posted by mcheat > 2016-11-23 15:48 | Report Abuse

On forex gains or losses - my 2 sens worth of opinion

There are a few scenario where forex gains or losses are subject to tax or deductible for tax purposes. If the forex gain/loss is realised and is for business purposes, it is subject to tax/deductible for tax purposes.

Unrealised gain/loss incurred for business purposes is not taxed/deductible when it is recognised. It will only be taxed/deductible when it is realised. However, accounting standard require a tax charge/income in the form of deferred taxation to be imputed.

If forex gain/loss is not for business purposes (for example non-trade advances to subsidiary), it is not taxable or deductible for tax purposes.

Either way, in computing segment profit, forex gain/loss should have been considered.

Posted by myportfolio > 2016-11-23 16:02 | Report Abuse

Whats the TP for Johortin?

Posted by Kareemabduljabbar > 2016-11-23 17:17 | Report Abuse

The company has excellent qtr but they have an erratic history. Have to wait and see if they can have 2 or 3 qtrs like this. Also remember that warrants expire next nov and strike is at 85. Ithere will no doubt be some selling in the warrants and further premium compression. The mother at this price has come a long way. Nothing stopping it going up further of course.

Posted by sapurakencana > 2016-11-24 09:55 | Report Abuse

Kareem,not need to worries,i already hold for 5 years,& consider to re-enter market

Posted by paperplane2016 > 2016-11-24 14:40 | Report Abuse

wow abdul jaabar! superstar, where's your sky hook!

Posted by paperplane2016 > 2016-11-24 14:41 | Report Abuse

different story now mah. last time is tin business, no diary. now diary more and more significant, should be stable for food business

Posted by Mohd Fahmi Bin Jaes > 2016-11-24 16:26 | Report Abuse

Write a comment..buying

Posted by pussycats > 2016-11-24 16:59 | Report Abuse

please buy , price cheap

Posted by teongcf > 2016-11-24 17:13 | Report Abuse

Buy lower sell higher. hehe.

Posted by ngjheng > 2016-11-24 22:03 | Report Abuse

Anybody know what is the diluted EPS for Johotin for this quarter ?

Posted by tkp2 > 2016-11-25 10:22 | Report Abuse

sochai papaerplane, see the price now, as expected, will continue to go down until the volume dry up, I guess warrant will go down to below 0.35, which is below your cost 0.37, got 0.5 for you to sell and take profit you don't want, now sure panic looking at the price drop....is 0.43 now lor sochai, your sense in this counter is total screw up big time

Posted by tkp2 > 2016-11-25 10:22 | Report Abuse

0.425 now, better run lor

Posted by tkp2 > 2016-11-25 10:26 | Report Abuse

I buy 0.23 you laugh at me said danger play, then you buy 0.37, I sell 0.49 you said can go up ask people to hold and top up, your sense is totally screw up lor, wakakakaka

Posted by tkp2 > 2016-11-25 10:28 | Report Abuse

real sochai, play stock like paperplane how to make money

Posted by Mohd Fahmi Bin Jaes > 2016-11-25 10:29 | Report Abuse

39 coming

Posted by paperplane2016 > 2016-11-25 10:29 | Report Abuse

only idiot like you sell. it is RM1.50 for mother, RM0.70 WA. its one of the only stocks still growing in Bursa, hard to find liao.

Posted by paperplane2016 > 2016-11-25 10:30 | Report Abuse

thts obviously big hand want to shake off weaker like you. then only will inch higher toward RM1

Posted by tkp2 > 2016-11-25 10:30 | Report Abuse

I sell 0.49 wor, idiot meh, even I buy back now I still smarter then you holding stupidly

Posted by paperplane2016 > 2016-11-25 10:30 | Report Abuse

you can say whatever here, I also can say I sell at 0.94

Posted by paperplane2016 > 2016-11-25 10:31 | Report Abuse

you sell high doesn't mean you smart. how you know later higher not. typical idiot

Posted by tkp2 > 2016-11-25 10:31 | Report Abuse

hahaha, see another stupid comment, 0.94 hahaha

Posted by tkp2 > 2016-11-25 10:32 | Report Abuse

beginner want to act like sifu, bring people to Holland

Posted by paperplane2016 > 2016-11-25 10:35 |

Post removed.Why?

Posted by tkp2 > 2016-11-25 10:36 | Report Abuse

sell volume so little, buy volume is even worst ler, sochai, so square, play stock like this really jialat lor

Posted by paperplane2016 > 2016-11-25 11:10 | Report Abuse

where got. you simply said only buy volume much higher loh..........

Posted by paperplane2016 > 2016-11-25 11:11 | Report Abuse

JOHOTIN is another crazy cash yielding stock 26.8%,

Posted by paperplane2016 > 2016-11-25 13:58 |

Post removed.Why?

Posted by 10bagger10 > 2016-11-25 14:01 | Report Abuse

ur msc price not doing very well today worhhh?

Posted by paperplane2016 > 2016-11-25 14:02 | Report Abuse

MSC? sudah gap up a lot. let those weak hand sell. I wont bother. next yr sure Commodity play+Palm oil play liao. Crude oil still watching can up or not

Posted by pelaburuntung > 2016-11-25 14:49 | Report Abuse

buy buy buy

Posted by probability > 2016-11-25 19:03 | Report Abuse

http://klse.i3investor.com/servlets/forum/600109814.jsp

from the above analysis and comments... the uncertainty will gradually diminish...and confidence may grow.

Posted by paperplane2016 > 2016-11-25 22:07 | Report Abuse

I have no doubt if their products sell well, next few yr expand capacity further

Posted by 8wpwtmt8 > 2016-11-25 22:27 | Report Abuse

Dear paperplane2016, may I know the new factory has started operation already or not?

Posted by probability > 2016-11-25 23:11 | Report Abuse

Icon's informative articles for easy access to everyone and especially myself to slowly study it thoroughly:

No.9, http://klse.i3investor.com/blogs/icon8888/97523.jsp

No.8, http://klse.i3investor.com/blogs/icon8888/85587.jsp

No.7, http://klse.i3investor.com/blogs/icon8888/82007.jsp

No.6, http://klse.i3investor.com/blogs/icon8888/80421.jsp

No.5, http://klse.i3investor.com/blogs/icon8888/77977.jsp

No.4, http://klse.i3investor.com/blogs/icon8888/78002.jsp

No.3, http://klse.i3investor.com/blogs/icon8888/77717.jsp

No.2, http://klse.i3investor.com/blogs/icon8888/69682.jsp

No.1, http://klse.i3investor.com/blogs/icon8888/56747.jsp

Posted by probability > 2016-11-25 23:28 | Report Abuse

The first Article (1) from Icon has a lot of information.. the expected revenue increase (USD 4 - 5 Million per month) with the new Factory.

I am thinking if 80% is export, and the main raw material of condensed milk is sugar and palm oil.....they may have an advantage. Lets investigate further...

Posted by probability > 2016-11-25 23:47 | Report Abuse

Despite its feed material (about 40%) on F&B section / Dairy products is mainly Sugar...and its price had risen so much - over 30% ...this section seems still profitable...why?

may be cause of of this: Government has ceiling price on sugar?

http://www.nst.com.my/news/2016/11/190653/msm-malaysia-appeals-raise-sugar-ceiling-price-profits-plunge-over-60pct

Posted by probability > 2016-11-26 12:53 | Report Abuse

Hmm...Able Dairies has AP to import and buy at special bulk price from MSM if required and they practise hedging..

http://www.thestar.com.my/business/business-news/2014/10/04/msm-clarifies-pricing-mechanism-it-reiterates-call-to-tighten-enforcement-on-smuggling-and-to-stop-i/

Sugar trader Moresugar Sdn Bhd says it sells refined sugar to four of these 13 manufacturers at less than RM2 per kg. The company claims that it has an AP to exclusively supply sugar to these 13 companies only. Moresugar says that these 13 companies were given their own APs to import sugar when the Government decided to do away with this kind of subsidy back in 2011.

Some of these companies include Able Dairies, Etika Dairies, Barkath Food, Permanis, F&B Nutrition and Malaysia Milk, among others.

MSM president and group chief executive officer Datuk Sheikh Awab Sheikh Abod, in declining to disclose the price at which it sells to the 13 large consumers, says that industries buy sugar in bulk quantities.

“They practise hedging with sugar refiners to procure their sugar requirement,” he says in replies to StarBizWeek.

Posted by paperplane2016 > 2016-11-26 12:56 | Report Abuse

So they manage efficiently. Why worry then?

Posted by probability > 2016-11-26 18:58 | Report Abuse

just consulted some expert..and he told me that the product is sold based on a certain margin on top of the average price of the inventory..

Its like you have big bottle to store the procured raw material milk and you keep buying at the market price to top up the bottle when the level comes down. The bottle is continuously drained from the bottom and sold based on the average price of the whole milk in the bottle at the time of draining with a margin....interesting.

So its rather the movement - the 'direction' of currency change during the quarter which matters... more than exchange rates 'value' USD->RM itself.

and he also told me the new lines are just being placed in operation in stages...not in full operation yet.

Posted by paperplane2016 > 2016-11-26 19:40 | Report Abuse

So we can expect even higher profit near future when it can goes full capacity...

Posted by probability > 2016-11-26 19:48 | Report Abuse

that is the impression i got.... told me not to worry about the company and shares price dip (warrants) which was due to profit taking.

Did not want to ask too much...as he felt like i'm probing too much..

that guy entertained my call coz i had Middle East number thinking im a potential customer..he he