Ok fine. I’m not like you. If I make a mistake I will admit it. Not hiding with videos of Pandan Calvary or disappearing when the chips are against me. You now hide here and try to scream Bplant . All quiet in Tsh But you used to shout that Tsh is much better and to swap from to it. And where is the final instalment you keep talking about? Maybe better you phone Wendy or whoever again to follow up .
Saying TSH is going to be a good dividend paying entity is just a guessing that everybody can do.How do you know whether the boss are generous enough to increase the dividend payout ?
Contrary to popular opinion LTAT acquiring the stake in Bplant is negative to both LTAT and Bplant as compared to the original KLK deal simply bcoz KLK has the expertise to turn Bplant into a profitable entity although the offer price is a bit pricey. It appears very much a political decision than a commercial one !
As for TSH it will dance with the movement of CPO not everyone is interested in valuing their assets. Many companies in bursa are selling below 50% of the NA !
LTAT announced that it will proceed with the GO of BPlant at RM 1.55 per share. The NTA of BPlant as of the end of Dec 2022 was RM 1.21 per share.
The offer price is 1.3 times the NTA. You may think that this is low when considering that the price to NTA for Sime Plantation is 2.0
If you compare BPlant’s ROE over the past 10 years with those of the Bursa plantation sector, you may think that this is a good performance. So why a low offer price for such a good performance? Refer to https://i.postimg.cc/vTVXvMwM/BPlant-ROE.png
But don’t be misled. The EBIT from 2013 to 2022 was RM 2.1 b. During this period, the gain from the disposal of land and securities amounted to RM 1.5 billion. The significant land sales (> RM 50 million gain) were carried out in 2013, 2015 to 2017, and 2019 and 2022
Without these gains, the returns in these years would have been much lower. BPlant did not make much from its plantation operations. I am sure the company is aware and has been trying to address this.
If u ask raider....should u take your monies....bplant at Rm 1.45.....General Raider will say hang on for Rm 1.55, bcos LTAT takeover will definitely be successful bcos is back by Govt of msia loh!
It is not bailout at Rm 1.55......bcos bplant is worth Rm 2.50 if it is sold piece meal loh!
Then why purpose sell to klk at Rm 1.55 leh ? 2 reasons loh!
1. LTAT is facing cashflow problem, thus need to dispose bplant quick mah! 2. LTAT is no completely disposing to KLK, it only sell 33% & holding the balance 35% to participate in the Joint Venture in with klk as the main partner managing bplant loh! Although LTAT is a junior partner but it can make use of KLK plantation expertise to create value for bplant, thus sharing for a very much bigger cake in the future loh!
Thus no matter how well this strategy has been crafted by Ltat, the fact the deal has been terminated for political & commercial reasons.
And Ltat will takeover bplant on their own....with govt financial backing loh!
Do not be mislead loh! If u r hopping for at least above 15% pa safe return within 5 mths, Bplant is your best pick loh!
Bcos LTAT takeover is supported by the GOVT of MSIA thus safer than the GO of KLK loh!
I am amazed until now people still think Ltat taking over Bplant for it's undervalue gold mine assets as a bail out ?
Like this
Bplant owns assets in Bukit Mertajam, Perak, Kulim, Kemaman, Johor, Sabah and Sarawak with total land values probably in the tens of Billions if sold or developed
and net net value should be at least Rm5.00 or more if sold
Shareholders Name Equities % Valuation BOUSTEAD HOLDINGS 1,286,135,900 57.42 % 400 M RM KUALA LUMPUR KEPONG 808,491,666 36.09 % 251 M RM Lembaga Tabung Angkatan Tentera 237,206,100 10.59 % 74 M RM On Chong Yiew 20,003,800 0.8930 % 6 M RM Government of Malaysia 12,348,000 0.5513 % 4 M RM Dimensional Fund Advisors LP 10,720,159 0.4786 % 3 M RM UNITED OVERSEAS AUSTRALIA LTD 7,700,000 0.3438 % 2 M RM NEGRI SEMBILAN OIL PALMS 7,400,000 0.3304 % 2 M RM Lodin bin Wok Kamaruddin 6,695,000 0.2989 % 2 M RM CHIN TECK PLANTATIONS 5,600,000 0.2500 %
60 sen LTAT did not buy B Plant. 70 sen, 80 sen, 90 sen, RM 1 until RM 1.4 not a single Bplant share bought suddenly want to buy all RM 1.55 make sense to bankers?
@ chamlo the initial deal between KLK and Bplant was good in the sense that one needs money the other can turn Bplant into a more profitable entity but why LTAT wants it now very much a political decision. Btw the Boustead Naval Shipyard is another disaster for LTAT. And talking about assets value I have said earlier that many companies in bursa is selling at 50% below their NA. What is the point of having valuable assets but don't know how to generate income from it but waiting to realise the gain only upon selling it !
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Posted by youarewelcome88 > 2023-10-11 10:04 | Report Abuse
It definitely is a done deal. Do you guys think it's easy to raise the funds even with the government guarantee? @speakup, what say you?