THE INVESTMENT APPROACH OF CALVIN TAN

JAYA TIASA (4383) LATEST RESULT SHOWS A HUGE SURPRISE JUMP IN PROFIT: UP BY 100% KUDOS TO YOUR EXCELLENT HARD, WELL DONE! WELL DONE!! WORK , Calvin Tan

calvintaneng
Publish date: Wed, 29 Nov 2023, 04:07 AM
calvintaneng
0 1,780
Hi Guys,

I have An Investment Approach I which I would like to all.

Hello Friends

It is indeed a happy surprise to see Jaya Tiasa aka "Jumping Tiger" (reminds us of the Tiger economies growth phase of Taiwan, Hong Kong, Korea, Japan & Singapore in the 1970s to 2,000)

Jaya Tiasa has seen a jump of 100% profit from sheer hard work

See (Refer to Bursa) Jtiasa Latest Qtr Results


17. 

For the financial quarter under review, the Group recorded a 19% increase in total revenue as a result

of higher contribution from the Oil Palm division. The increase in the sales volume of CPO and PK

by 34% and 37% respectively managed to offset the reduction in the average selling prices of both

CPO and PK.

The Group recorded a profit before tax of RM93 million in the current quarter, up by 100% or

RM46.5 million over the corresponding quarter last year. The improvement in pre-tax profit for the

current quarter was mainly attributable to better profit margin in the Oil Palm division as a result of

36% higher FFB production.

Ok

We see profit up by 100% from Rm46.5 millions to Rm93 millions (even though CPO oil prices have gone down from year 2022 Rm5000 to Rm6000 to current Rm3500 to Rm4200 per ton


How come?


See the answer

pre-tax profit for the

current quarter was mainly attributable to better profit margin in the Oil Palm division as a result of

36% higher FFB production.


ATTRIBUTED TO HIGHER FFB PRODUCTION! BY 36%

That's it

Jtiasa BOD & Staff have put in extra time & effort to INCREASE FFB Production; harvesting all available Palm Fruit with increasing hard work & effort.

Well done! Well done!!


Ok now let's go see Balance Sheet

We shall compare previous & current table of content to see clearer



SUMMARY OF KEY FINANCIAL INFORMATION

30 Jun 2023


INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR

CORRESPONDING

QUARTER

CURRENT YEAR TO DATE
PRECEDING YEAR

CORRESPONDING

PERIOD

30 Jun 2023
30 Jun 2022
30 Jun 2023
30 Jun 2022
$$'000
$$'000
$$'000
$$'000
1
Revenue
199,019
245,464
845,166
810,770
2
Profit/(loss) before tax
40,331
52,750
168,792
200,558
3
Profit/(loss) for the period
60,161
40,972
153,628
134,413
4
Profit/(loss) attributable to ordinary equity holders of the parent
60,067
41,010
153,639
134,556
5
Basic earnings/(loss) per share (Subunit)
6.21
4.24
15.87
13.90
6
Proposed/Declared dividend per share (Subunit)
1.70
2.80
3.20
2.80


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
1.4300
1.3100

April result for April to June 2023 Qtr

YoY earnings up at 6.21 sen from 4.24 sen

Now if you look at the actual operating income it is only 4.21 sen (the 2 sen profit was only a deferred  tax credit 

Posted by Pinky > 2023-08-24 19:48 | Report Abuse

@Save to answer your question, JTiasa accounts this quarter have a deferred tax CREDIT. See the 2nd part of my example above. It's a REVERSAL credit/income


So last qtr Jtiasa actual operating profit was 4.21 sen




Now see This Latest Qtr result


SUMMARY OF KEY FINANCIAL INFORMATION

30 Sep 2023


INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR

CORRESPONDING

QUARTER

CURRENT YEAR TO DATE
PRECEDING YEAR

CORRESPONDING

PERIOD

30 Sep 2023
30 Sep 2022
30 Sep 2023
30 Sep 2022
$$'000
$$'000
$$'000
$$'000
1
Revenue
248,003
207,807
248,003
207,807
2
Profit/(loss) before tax
93,035
46,472
93,035
46,472
3
Profit/(loss) for the period
66,835
33,948
66,835
33,948
4
Profit/(loss) attributable to ordinary equity holders of the parent
66,833
33,985
66,833
33,985
5
Basic earnings/(loss) per share (Subunit)
6.90
3.51
6.90
3.51
6
Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
1.5100
1.4200


Earning per share is 6.9 sen (last year qtr only 3.5 sen)

And qtr to qtr up from 4.21 sen to 6.9 sen (a jump of 63% qtq)


This sets Jtiasa apart from all others in the fast growth category (all by sheer hard work)


Now this let us go see current net debt

Current loan: Rm56,310,000

Non current loan = Rm264,137,000

Total debt = Rm320,447,000


Cash = Rm201,202,000

Investment securities: Rm9,730,000

Other current assets: Rm13,208,000

Total Cash/Cash equivalents = Rm224,140,000

Total debt less cash = Rm96,307,000

Jtiasa debt was over Rm1.4 Billions 5 years ago and now only Rm96.3 Millions

Look carefully again


This Qtr PBT (Profit Before Tax) is Rm93.035 Millions

Than means in just one more qtr good profits Jtiasa will be DEBT FREE


But see more carefully

This latest qtr Jtiasa recorded Cash Expense

CONDENSED STATEMENTS OF CASH FLOW

Cash Flows used in Investing Activities

Acquisition of subsidiaries, net of cash - (52,209) -

Acquisition of property, plant and equipment (11,660) 

Acquisition of biological assets  (6,455)


Jtiasa used Rm52.209 Mil) to by more Palm Oil Investment

Rm11.66 Millions for PPE

Acquisition of biological assets Rm6.455 millions

Total Cash invested = Rm70.324 millions

Suppose Jtiasa has not invested and kept these as Cash

Then debt will be Rm96.307 Mil less Rm70.324 millions

leaving a very small net debt of only Rm26 millions 


However the increased purchase has shown up in NAV now at Rm1.51 per share

Plus look at PPE (Property Plant & Equipment)

It was 

Property, plant and equipment

Rm 1,515,946,000 (current qtr)

Rm 1,450,841,000 (Last year Qtr)

Up by Rm65.105 Millions


All these show ever increasing value building by Jtiasa BOD for Company & Shareholders

Plus take further note


JAYA TIASA HOLDINGS BHD
Type
Announcement
Subject
MONTHLY PRODUCTION FIGURES (MINING / PLANTATION / TIMBER)
Description
MONTHLY CROP AND LOGS PRODUCTION

The Company wishes to announce the crop and logs production of the Group for the month of October 2023 as follows:

 

Product
Production
Fresh Fruit Bunches
132,551 metric tonnes
Crude Palm Oil
26,427 metric tonnes
Palm Kernel
6,270 metric tonnes
Logs
8,915 cubic metres


Latest FFB is 132,551 metric tonnes

See SOP

SARAWAK OIL PALMS BERHAD
Type
Announcement
Subject
MONTHLY PRODUCTION FIGURES (MINING / PLANTATION / TIMBER)
Description
We submit herewith the SOPB Group's figures for the month of October 2023

M.TONNES

FFB 124,206

CRUDE PALM OIL 39,999

PALM KERNEL 8,982


SOP FFB is 124,206 metric tonnes


THIS CLEARLY SHOWS JTIASA FFB PRODUCTION IS NOW AT ALL TIME HIGH (OVERTAKING SOP)

Jtiasa has 206,000 Acres of Palm oil and 171,000 Acres are now Prime productive age of 14 years (11 more fruitful years of good harvest) before age 25 when it needs replanting

171,000 acres is about 97% of Singapore land size of 177,000 acres

Plus Jtiasa has 1.9 Million acres of forest concession or about 11.5 Times Singapore landmass

So vast are the lands of Jtiasa it needs what?

See

Acquisition and disposal of items of property, plant and equipment by the Group for the current

financial period ended 30 September 2023 is as follows:

Aircraft and Motor vehicle Rm6.593 milions


Jtiasa has a hangar in Airport & it just purchased Aircraft (helicopter?) to oversee its vast lands


With all the above figures do you think Jtiasa's Status at below Rm1.00 is justified

Where can we find such a small cap palm oil stocks with Vast Lands & potential

Now this qtr is 6.9 sen

Annualised 6.9 x 4 

= 27.6 sen

If we assign P/E 5 for Jtiasa it should be worth Rm1.38

If P/E 10 then Rm2.76

If P/E 15 will be Rm4.14


Best Regards & Happy Investing,


Calvin Tan

Please buy/sell after doing your own due diligence or consult your Remisier/Fund manager


Discussions
1 person likes this. Showing 1 of 1 comments

calvintaneng

WHY SINGAPORE STRONGEST BANK DBS GROUP LOVES TO BUY MALAYSIA SMALL CAP PALM OIL STOCKS, Calvin Tan

https://sgx.i3investor.com/blogs/Jbhouseforsale/2023-11-23-story-h49599028-WHY_SINGAPORE_STRONGEST_BANK_DBS_GROUP_LOVES_TO_BUY_MALAYSIA_SMALL_CAP_PA.jsp

Spore DBS has two slots in Top 30 shareholders of Jtiasa

Fong Siling aka Cold Eye increased his stake in Jtiasa from 5 million to 10 million Jtiasa shares

2023-11-29 04:10

Post a Comment