Ada meh?

Enlighten me..

Rumah mampu milk should be ok lah... RM 250K onli..

U want?

LOL.. thanks for the honest opinion.

Yes, I do not favor the property segment too much.. but its property is cheap (under skim mampu milik) so I think will more or less will be stagnant. The current property arm already have like RM 630 mil unbilled sales (House sold, not completed), enough for profit recognition on for the next 2-3 years.

In fact this company is also winding down it's property launches and it's boosting it's plastic line. It first foray into the commercial plastic line in early 2014 by acquisition of GW Plastics BHD AND Seacera Polyfilms, (at the height of oil price ) now looks like good foresight no?

The next 5 years of growth will not come in properties, as the company only plan to launch small amounts of it in 2015 (~150 mil). Commercial plastics will be engine of growth for now ...

Rightly or wrongly.. lets see how it goes since have been holding it for so long already..

This post has been edited by gark: Mar 31 2015, 10:23 AM

Yes.. by going into commercial plastics, they have a margin erosion. Why do you think those company want to sell at the first place?

Plastics is like gloves, you need capacity to make money.. They have recently upgraded GW Plastics PE line from 1K MT to 4K MT. They are going to increase Seacera's 500 MT BOPP capaicty to 5K MT.

Depends.. if the management can grow the commercial plastics in time to catch up.. then yes. Otherwise they will fail. Current plastics sale of 13.6k MT/month (After recent expansion of 1K in Dec 2014), after expansion in 2017 AND is the sales meets target then total sales will be 25k MT (all expansion in commercial plastics). IF margin is the same, then profit will double. For example most of the BOPP films currently used in Malaysia is imported, due to the small size of local players... this is an opportunity IF they can grasp it.

Profit from plastics increased in 2Q15 at RM 17.4 mil vs 1Q15 at RM 16.0 mil...from the new PE film expansion.

For property the profit is already locked in form the huge unbilled sales. This gives them time to grow other source of revenue.. for the property slowing down it might not be the case unbilled sales stand at 640 mil vs 534 mil in mid 2014. means sales are still growing faster than revenue recognition.

This will not be a short term counter... no catalyst for the mean time until the new plants are UP.

Anyway I happy for someone to give opposing views.. letting us see from different perspective

This post has been edited by gark: Mar 31 2015, 10:46 AM

Not much catalyst for higher PE.. unless the plastics division is a runaway success.. but not likely.

The PEG ratio is quite however low 0.5 to 1.0 ...

At RM 6+ .. no wok is big enough..

OR high time to issue BI (lots of retained earnings)... BUT only benefit short term only..

This post has been edited by gark: Mar 31 2015, 01:07 PM

You can try compare TSH to Felda lol...

Go compare the following..

1. Tree profile (Average age, distribution of maturity)
2. Remaining Landbank to be planted
3. Yield / Ha
4. Oil extraction rate

To get all those info you must do some digging of documents/reports ..

This post has been edited by gark: Apr 2 2015, 11:18 AM

I though you are ..

This is the calculation for the above using black-scholes calculator.. with time value of money..

Shows intrinsic value 0 sen, theoretical value is 6 sen but market price should be 10 sen..

This post has been edited by gark: Apr 2 2015, 11:35 AM


Attached File(s)
 JT.pdf ( 87.34k ) Number of downloads: 9

People wan to learn mah... if dun understand i can help explain ..

Then you better not play all these call warrants..

Or ask pinky.. he certified accountant..

This post has been edited by gark: Apr 2 2015, 01:29 PM

No problem.. name your price..

22*9 is back in action.. gogogo back to 1.20..

Haha it's actually &a&... about time actually..

Look at the massive gap between the son and mother...

The 30% holding in son actually > than total cap of mother..

Mysteries of the stock market.

last time sold off some at 1.20, picked back below .80

This post has been edited by gark: Apr 14 2015, 10:17 AM

The mystery is that .. why is the mother placed so low..

Not consistent with other mothers mah.. got some discount ok understood lah.. but priced below son's holding?

Anyway lets see how it goes... been holding for some time already.

I hope they sell off susi.. then payday will come.

Danger stock for punters...

And dont have boons seal of approval..

Public bank gave a report.. undervalue company..net cash RM 80 mil etc etc



PBB gave a high TP.. not my TP ah!

Low volume tho.. upside might not last.

Full report here.

This post has been edited by gark: Apr 15 2015, 12:00 PM

About time!

Today is a good day..