Posted by calvintaneng > 2021-12-17 11:33 | Report Abuse

glove chemical hit by glut

sell Texchem and buy Thplant now

thplant will overtake Texchem

Posted by stockraider > 2021-12-17 11:37 | Report Abuse

Texchem a better bets loh!

Tsh got corporate governance problem mah!

Posted by Albukhary > 2021-12-17 11:46 | Report Abuse

Yup, texchem is the best bet.

Texchem got chemical, got retail, got fishing, got kokubu logistic.

Too much undervalue.

Posted by calvintaneng > 2021-12-17 11:55 | Report Abuse

Hahaha

When Calvin called for a buy on Texchem at 50 sen where were you???

Now up only chase ?

Lol!!!

Posted by Cockroach Paul Lee > 2021-12-17 13:57 | Report Abuse

Thplant liabilities 1300m… be careful with high debt company . But the recent profit not bad. Good luck Kevin. Kmloong netcash plus high dividend .
Texchem looking good and fishery business may become new Cash generate machine …. Tingtingtingitng money money come

Posted by calvintaneng > 2021-12-18 19:39 | Report Abuse

thplant liabilities nothing compared to Klk

Klk has Rm8 Billions borrowings yet can take ijmplant private

look at the colossal assets and earning potential of Thplant and klk

Posted by afauzino > 2021-12-31 10:44 | Report Abuse

Texchem will surely move up further...just wait.

Posted by wallstreetrookie > 2021-12-31 10:53 | Report Abuse

Calvin only recommends cyclical stocks which are usually super boring. Old people favourites

Posted by wallstreetrookie > 2021-12-31 11:18 | Report Abuse

It is extremely easy to recommend cyclical stocks. Low PE - Dump. Negative earnings - Buy the dump. That's literally it. And perhaps follow commodities trend

Posted by wallstreetrookie > 2021-12-31 11:18 | Report Abuse

I challenge @calvintaneng to find a growth stock for 2022. No more traditional companies. The ones with no PE.

Posted by wallstreetrookie > 2021-12-31 11:19 | Report Abuse

Haha anyways happy new year Calvin. Ta-ann was a good call

Posted by lomas > 2021-12-31 15:40 | Report Abuse

Why suddenly up 7 cents, got any incoming good news?

Posted by Cockroach Paul Lee > 2022-01-02 00:46 | Report Abuse

TEXCHEM 2022 crazy stock！ BULL
hahaha rocket

Posted by Albukhary > 2022-01-07 00:07 | Report Abuse

TEXCHEM, still the most undervalue stock.

Industrial Chemical Segment - Super Good.

F&B Sushi King -Super Good, all restaurant still full with patron.

Fishing - Myammar business return to profit.

This is the one of the best recovery stock to bet for 2022.

Minimum target price - RM2;00

Posted by Albukhary > 2022-01-07 00:09 | Report Abuse

1st TP - RM0.90 (Achieved)
2nd TP - RM1.10 (Achieved)
3rd TP - RM1.30 (Achieved)
4th TP - RM1.75
5th TP - RM2.20
6th TP - RM2.80 (then proposed Bonus Issue or Share Split)

Sushi King business is very good (super good, need to wait for seat).
Chemical business also very good. (No more MCO, can run at 100% capacity)
LifeScience business also very good. (No more MCO)
Myammar fisheries business back to normal. (Political more stable compare to last quarter)
Property is at strategic location. (waiting for revaluation)
Property market value is much much higher than book value.
NTA RM2.00
124mil share only.
Market cap RM111mil.

Last time Chicken Rice Shop sold to Japanese buyer for RM200mil.
Don't you think Sushi King will worth at least RM300mil.

Hextar bought a lot of chemical company at high price.
If Hextar want to acquired Texchem Chemical business (Industry chemical + Life Science), I think minimum it will offer RM300mil.

So, TEXCHEM is worth RM300m + RM300m = RM600m.

RM600mil / 125mil unit of share = RM4.80 per share.

Give it a superb durian runtuh discount of 50%, still worth RM2.40 minimum.

Posted by Albukhary > 2022-01-07 08:56 | Report Abuse

Q4'2021 is superb quarter for Texchem.
Especially for it's F&B business Sushi King.

Posted by Albukhary > 2022-01-09 20:19 | Report Abuse

TEXCHEM
- Market Cap - RM158mil
- NTA - RM260mil (65% upside)
- Enterprise value - RM600mil (280% upside)

Q4'2021 result - Estimated EPS 7sen - 10sen.

Posted by blackchicken > 2022-01-09 20:23 | Report Abuse

Samchem

Posted by Albukhary > 2022-01-10 22:15 | Report Abuse

TEXCHEM, 你不能错过的一支严重被低估的黑马.
2022 高估值的科技股将会退潮,资金会开始流入被低估,实实在在做生意的公司.
TEXCHEM无论是盈利, 资产, 生意规模, 管理层, 品牌, 都是不错的, 而且严重被低估.

Posted by Liontexchemer > 2022-01-17 13:16 | Report Abuse

Wow. This QR have 20 million PBT. Coming ~~

Posted by Powerplay666 > 2022-01-17 18:26 | Report Abuse

Liontexchemer.. How do you see 20 million pbt this qr? At best, with the opening up after MCO, I see 5m.

Posted by Albukhary > 2022-01-17 20:57 | Report Abuse

I estimate profit around 12-15mil

Posted by samchong6891 > 2022-01-19 12:43 | Report Abuse

Albukhary how you calculate bro ?

Posted by Liontexchemer > 2022-01-19 16:54 | Report Abuse

No need calculation. They have share it among their meeting this Monday…@@ Total PBT this year is 3X M… =) But it fly since last month. =(

Posted by newguy0801 > 2022-01-19 17:50 | Report Abuse

Is it worth it to sell Sushi King?
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3227193

Posted by Albukhary > 2022-01-20 01:22 | Report Abuse

Many people ask me why TEXCHEM proposed to purchase the 28% share at RM102.2 mil, how they arrive at this valuation.

The answer is very simple, this RM102.2mil is the original investment amount that Yoshinoya Group invested for the 28% in 7 years ago.

Back to 2015, Texchem has sold 28% share of Sushi King to Yoshinoya Group at RM102.2mil.
7 years later, Texchem buy back the 28% share at RM102.2mil.

7 years ago, Sushi King have 89 outlet.
7 years later (after pandemic), Sushi King has 121 outlet.

7 years ago, Sushi King is very profitable, can generate RM15-20mil profit per year.
Recent this two years, due to Covid Pandemic, the Sushi King business is very bad, loss a lot of money. However, if assume everything can back to normal, the Sushi King should be able to generate RM25-30mil profit per year.

RM30mil divided 121 outlet, we are talking about RM250,000 per outlet per year, or equivalent to RM20k profit per outlet per month.

Currently Texchem have 70.35% of SushiKing.
If 28% is worth RM102.2mil, then the 70.35% is worth RM256 mil.

Texchem market capital is RM163mil.

Texchem have Chemical business, Food business, Restaurant business, Life Science business.

Just a restaurant segment is worth RM256 mil, the whole group should worth minimum RM500mil.

Posted by iyin666 > 2022-01-20 10:20 | Report Abuse

Expect strong Q4 - 7 to 12 mil

Posted by Questionking > 2022-01-20 11:10 | Report Abuse

Still good buy texchem ?

Posted by Powerplay666 > 2022-01-20 11:11 | Report Abuse

Anyone knows when qr is out?

Posted by Alwinb > 2022-01-20 16:01 | Report Abuse

28% of Sushi King for 102 mil is equivalent to paying 3 mil for each Sushi King outlet. Given Sushi King mediocre sales, it is much cheaper for texchem to open new outlets instead of buying up the 28% stake.

Posted by Alwinb > 2022-01-20 16:07 | Report Abuse

Texchem announcement fail to justify for the high price by comparing with peers valuation

Posted by Alwinb > 2022-01-20 16:09 | Report Abuse

Just compare berjaya food and sushi king

Posted by Alwinb > 2022-01-20 19:04 | Report Abuse

ROI for the 102 mil is only 3% based on the best of the past 5 years Sushi King profit after tax 2+(2016 to 2020) This is the justification provided for the purchase price. Not convincing

Posted by Alwinb > 2022-01-20 19:06 | Report Abuse

Why spend money on share buy back when the share price is near its historical 52 weeks peak.

Posted by Albukhary > 2022-01-20 22:54 | Report Abuse

Don't treat it like a purchase, just treat it as a repayment of borrowing.

Treat it like 7 years ago Texchem pledge 28% to Yoshinoya and borrow RM102mil from them, and 7 years later Texchem payback the RM102mil and get back the 28% share.

During this 7 years, you have take the money and expand the business from 89 outlet to 121 outlet.
And due to pandemic, Yoshinoya group personally badly hitted by the crisis, and now they want Texchem to payback the RM102mil, so they return back the share.

Then you will feel comfortable with the deal.

Posted by Alwinb > 2022-01-21 06:57 | Report Abuse

As an investor, I would like the see all transactions, especially for related party,, done above board.

In this case, there was an outright share sale to Yoshi without any Put option.

However, Texchem appears to guarantee Yoshi by buying back the shares at the same price if investment is not up to expectation.

This is akin to Texchem failing to report a Contingent Liability.

No point having audited published account if investors have learn to be ''comfortable' with the Board decision based on gentlemen agreement.

Investing in KLSE would be taking a big bet due to lack of transparency and poor corporate governance.

I see Texchem potential but I am also disappointed by Texchem questionable decisions.

Posted by Alwinb > 2022-01-21 06:59 | Report Abuse

The next question is are there more surprises

Posted by Alwinb > 2022-01-21 07:17 | Report Abuse

Oh yes, MSWG please examine the deal with Yoshi to buy back Sushi King...

Posted by Alwinb > 2022-01-21 07:48 | Report Abuse

With Omicron cases increasing, why is Texchem paying such high valuation for Sushi King.

Posted by Albukhary > 2022-01-21 09:37 | Report Abuse

Yup, from a investor perspective, I agreed this transaction is lack of transparent.

But, from business perspective, Sushi King business is getting very good recently, especially after the lockdown on June/July/Aug, all the mall / restaurant traffic is surge dramatically.

Back to 7-8 years ago, Japanese food is mostly consumed by chinese (90% customer is chinese).
But nowadays, many malay can accept japanese food, and chinese have gradually move to higher range japanese food restaurant.

Hence, nowadays you can see Sushi King customer majority is Malay. Compare to other japaneses restaurant, Sushi king price is at affordable level, 1 small family (2 parent and 2 kid) go to eat until full the price can be within RM80-100.

You can wait for the quarter result, I believe sure you can see the F&B business segment start to generate nice profit for Q4 2021.

Posted by sense maker > 2022-01-21 09:43 | Report Abuse

Clearly minority shareholders should lodge a police report against the Japanese ceo for handing out RM102m cash to Yoshinoya for a 28% stake in a struggling biz.

Posted by Alwinb > 2022-01-21 10:07 | Report Abuse

Yes, let's wait for the current quarter result. Also, I hope to see the high inventory level, which is increasing for the past quarters come down.

Posted by sense maker > 2022-01-21 10:09 | Report Abuse

Net debt of the company will double to RM200m. This is a cornered stock, kept artificially at a relatively high price of RM1.30. When the banker leaves, the fall will be severe. Banker normally leaves when there are other big buyers coming in or when the fundamentals of the company deteriorate too much, relative to the prevailing market price. Don’t be lulled by the seeming stability of its share price at the current elevated level.

Posted by Alwinb > 2022-01-21 10:15 | Report Abuse

90% of the debt is due less than 1 year and for trade finance purpose. The fact that these are provided on an unsecured basis means Texchem is well rated by FIs. The long term debt has been declining to a negligible level.

Posted by Alwinb > 2022-01-21 10:18 | Report Abuse

Generally, Texchem has respectable operating cash flow despite reporting mediocre profit to losses due to high depreciation charge

Posted by Alwinb > 2022-01-21 10:25 | Report Abuse

With the small capital of 130mil, Texchem has not only never stop growing but indulge itself in capital intensive business which require high R&D expenditure and long gestation period like green polymer and aqua culture

Posted by Alwinb > 2022-01-21 10:27 | Report Abuse

All these were funded by internally generated funds and bank borrowing... Not thru placements

Posted by Alwinb > 2022-01-21 10:28 | Report Abuse

That is why despite my concerns, I do see potential in Texchem

Posted by sense maker > 2022-01-21 10:37 | Report Abuse

For 3 quarters at the height of covid 19, the company did well in selling face shields and polymer products, making RM22m net profits in total. As the covid fades, the past 2 quarters have seen dismal results. The company now struggles to make any net profits. The high depreciation charge is partly offset by its need to continually spend on capex. With breakeven results, net cash flow generated is around RM5m to RM10m. It will take the company at least 20 years to pay down its RM200m net debt. Good luck.

Posted by airfan99 > 2022-01-21 14:07 | Report Abuse

what i do not like the management. pofit down but salary / numeration is up