Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

3iii | Joined since 2015-02-07

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Stock

3 hours ago | Report Abuse

SSLee rightly pointed out the huge loans advanced to its customers and the AR. The company has to impair a lot of the AR.

Stock

3 hours ago | Report Abuse

Not so easy to value this business today. Too difficult a task.

Stock

7 hours ago | Report Abuse

SSLee

Please have a look at SAB, your previous employer in your early part of your long career. :-)
The company's financial accounts are easier to read and comprehend.
They retained so much cash and still paid the same small amount of dividends.
Imagine, if you can play activist to t his stock, it might be worth a lot more today, price wise.
Just tickling.😀

Stock

7 hours ago | Report Abuse

Most important is to focus on its growth in UHP and its recurrent revenues in this segment.

Stock

7 hours ago | Report Abuse

Fast growing company.
Most of the directors had worked in MOX ( a company I used to own, until it was taken private .. depriving Bursa of another great company).
Though it is in a competitive business, due to increase in demand for its UHP segment products, its revenues and profits grew rapidly.
Its balance sheet appears strong. Due to its many fold increase in revenue, its AR too grew accordingly. Its borrowing increased last year due to expansion of its business, the borrowings are mainly short term borrowings. Its long term debt remains low.
The management continues to reward the shareholders with dividends, through it retain most of its earnings for maintainance and future growth capex.

General

8 hours ago | Report Abuse

Why are we getting so many promotions on plantation stocks for so many months?

How good are these articles from an investment information point of view?

The impression I get is the promoter may think that flooding the forum through his many posts is important for HIM.

Actually, the stocks do not know who own them.

In the long run, the stock market is a weighing machine (quoting Benjamin Graham), though in the short run, it may behave like a voting machine.

Perhaps, the promoter of plantation need reduce his posts to 1% of his present and provide a more intense, objective and balanced analysis.

At present, there are just too much noise, drowing perhaps, the little bit of useful information available in his articles.

Regards

Tunnel vision investor. :-)

Stock

22 hours ago | Report Abuse

Plantation Sector

Milling & Cultivation

We remain cautious on the outlook for Milling and Cultivation. CPO prices have
stabilised around RM3,780/MT currently, compared to the peak of approximately
RM6,500 – RM7,500/MT in 2022.

Looking forward, CPO prices may remain rangebound, impacted by factors such as
production output, the impact of weather conditions, government policies of exporting
countries and global demand, which is highly dependent on economic conditions.

Stock

22 hours ago | Report Abuse

Plantation Sector

Milling & Cultivation

We remain cautious on the outlook for Milling and Cultivation. CPO prices have
stabilised around RM3,780/MT currently, compared to the peak of approximately
RM6,500 – RM7,500/MT in 2022.

Looking forward, CPO prices may remain rangebound, impacted by factors such as
production output, the impact of weather conditions, government policies of exporting
countries and global demand, which is highly dependent on economic conditions.

General

22 hours ago | Report Abuse

Plantation Sector

Milling & Cultivation

We remain cautious on the outlook for Milling and Cultivation. CPO prices have
stabilised around RM3,780/MT currently, compared to the peak of approximately
RM6,500 – RM7,500/MT in 2022.

Looking forward, CPO prices may remain rangebound, impacted by factors such as
production output, the impact of weather conditions, government policies of exporting
countries and global demand, which is highly dependent on economic conditions.

General

1 day ago | Report Abuse

VALUE OF AN ASSET

From The Essays of Warren Buffett: “In Theory of Investment Value, written over 50 years ago, John Burr Williams set forth the equation for value, which we condense here: The value of any stock, bond or business today is determined by the cash inflows and outflows—discounted at an appropriate interest rate—that can be expected to occur during the lifetime of the asset.”

Stock

1 day ago | Report Abuse

My fair value for Inari is RM 1.60 per share!

Stock

2 days ago | Report Abuse

SCIENTX MR LIM PENG JIN 19-Feb-2024 Acquired 130,000

General

2 days ago | Report Abuse

HLB, PBB and MAYBANK

All announced better quarter results and have declared slight increase in dividends.

Stock

2 days ago | Report Abuse

calvintaneng likes TSH to trade at a premium and at a multiple to its book value.

But, it is still trading at a discount to its book value. Why is the market valuing TSH thus?

Is it that calvintaneng is right and that the market is wrong?

But then, when has calvintaneng admitted he got it so wrong in NETX and his promoted 10 stocks that were the most undervalued a few years ago.

😀🤣

Stock

2 days ago | Report Abuse

Nestle and DLady are stocks I have in my portfolio since 1993!

Stock

2 days ago | Report Abuse

Outlook
Moving forward, we expect Nestlé to improve it GP margin back to prepandemic levels (around 34% whereas latest GP margin in 4QFY24 stood at 32.1%) attribute to the easing in raw materials price and effective cost measures.

Valuation
Upgrade to Hold with unchanged target price of RM132.60/share based on DDM valuation (k: 6.4%; g: 3.0%) due to the recent weakening in share price.

Source: TA Research - 28 Feb 2024

Stock

2 days ago | Report Abuse



27-Feb-2024
Qtr ending 31-Dec-2023
Rev 358,885
PBT 79,865
NP 66,684
NPM 18.58%
ROE 2.70%
EPS 0.81
DPS 0.25
NAPS 0.30


Forecast EPS for next 4 qtrs:
0.81 sen x 4 = 3.24 sen

At 29 sen per share, P/E = 9.9x and P?NAPS = 0.97x,

General

2 days ago | Report Abuse

Writers find it useful to picture the reader they seek, and often they are hoping to attract a mass audience. At Berkshire, we have a more limited target: investors who trust Berkshire with their savings without any expectation of resale (resembling in attitude people who save in order to buy a farm or rental property rather than people who prefer using their excess funds to purchase lottery tickets or "hot" stocks).

Over the years, Berkshire has attracted an unusual number of such "lifetime" shareholders and their heirs. We cherish their presence and believe they are entitled to hear every year both the good and bad news, delivered directly from their CEO and not from an investor-relations officer or communications consultant forever serving up optimism and syrupy mush.


Berkshire Hathaway Inc. 2023 Shareholder Letter

Stock

2 days ago | Report Abuse

28.2.2024

TONGHER Financial Information

Revenue (TTM) ... Net Profit (TTM) ... Net Margin (TTM)
598.03M ... 6.42M ... 1.10%

EPS (TTM) ... P/E Ratio ...ROE
4.08 ... 58.58 ... 1.13%

P/B Ratio ... NTA
0.66 ... 3.61

5y CAGR - Revenue .... 5y CAGR - Profit
2.50% .... -

Dividend (cent) .... Dividend Yield ....PRICE
20.000 ^ .... 8.37% .... 2.39

Stock

2 days ago | Report Abuse

Tongher is well managed and profitable. It delivers dividends regularly and due to its low share prices (most of the time), the dividend yields are quite high (6% - 8%).

It is a cyclical stock. Those who bought this stock when its price was at a cyclical low should enjoy very good reward. This coincides with period when the EPS is low, the PE is obviously high and DY is high, compared to its historical trends. Those who bought when the price was at its cyclical high would have great difficulty recovering their losses or will take a long term to break even, even with the regular dividends received.

2022-04-07 17:47


The above was what I posted 2 years ago. The statement remains true. Keep it simple. Keep it safe.

Stock

2 days ago | Report Abuse

Performance of Current Year Against the Financial Year Ended 31 December 2022 (“corresponding period”) (cont'd.)

Analysis of segmental performance against the corresponding year are as follows:

Drilling Services Segment
Drilling Services segment recorded RM316.4 million increase in revenue to RM799.5 million in the current year, mainly due to higher jack-up rig utilisation of 83% (corresponding year: 62%) and higher average daily charter rates of USD94k/day (corresponding year: USD77k/day).

The segment registered a profit before tax of RM159.8 million compared to a loss before tax of RM26.1 million in the corresponding year, in line with higher revenue.

Integrated Project Management
The Integrated Project Management segment recorded higher revenue of RM401.8 million in the current year as compared to RM86.7 million in the corresponding year, mainly due to higher utilisation of hydraulic workover units and progress of i-RDC project.

The segment recorded a profit before tax of RM22.5 million compared to a loss before tax of RM16.0 million in the corresponding year, in line with higher revenue.

Oilfield Services Segment
The Oilfield Services segment recorded higher revenue of RM12.0 million in the current year as compared to RM10.1 million in the corresponding year, mainly due to higher activities from operation in Tianjin.

The segment recorded profit before tax of RM3.0 million in the current year with marginal increase against corresponding year.

Others Segment (include corporate expenses)
Others segment which include corporate expenses recorded higher loss before tax of RM64.0 million in the current year against RM42.4 million loss in the corresponding year mainly due to higher IT related expenses, depreciation charge and other corporate costs.

Stock

2 days ago | Report Abuse

Current Prospect
Drilling Services Segment
Integrated Project Management Segment
Oilfield Services Segment Group

The positive outlook in the global oil and gas industry augurs well for the Group's financial performance. Barring any unforeseen circumstances, the Group is optimistic that the financial performance for the financial year 2024 will be as promising as 2023. The group’s utilisation is expected to remain high in 2024, with some rigs contracted up to 2026.
Geopolitical risk that may result in uncertainty to oil supply and markets remains high. The oil and gas outlook fundamentals remain strong. The benchmark Brent oil price has remained around USD80 per barrel in recent months due to both improving economic prospects as well as lower inflation.
Currently, all six of the Group's jack-up drilling rigs are contracted. The Group is actively bidding for new tenders for local and international contracts scheduled to be performed in 2025 and beyond.
The i-RDC project is progressing and GAIT 6 is currently contracted with ExxonMobil. The Group is participating in tendering activities for 2024 and 2025.
Global competition for assets such as jack-up rigs remain heightened. Jack-up marketed utilisation in Southeast Asia and Malaysia remained at 100% and charter rates for the latest fixtures continues to be on an uptrend.
The improved industry outlook is expected to support stable performance of the oilfield services operation in China. Nevertheless, global and regional upstream oil and gas activities including in Southeast Asia continue its upward trend, with more exploration and development projects being evaluated, re-visited and sanctioned.
Major oil producers continue to increase their CAPEX in response to prolonged lack of investment in the past. In Southeast Asia, particularly Malaysia, a number of new contracts have been awarded with more being tendered out.
The International Monetary Fund ("IMF") increased its projected global Gross Domestic Product ("GDP") growth rate for 2024 from 2.9% to 3.1%. U.S. Energy Information Administration ("EIA") is forecasting for global oil demand to increase by 1.4 million barrels per day to 102.4 million barrels per day in 2024.
On the supply side, OPEC+ and Saudi Arabia have increased their production cuts, offset by increasing supply from non-OPEC countries. As such, inventory changes and oil markets are expected to remain balanced.

Stock

2 days ago | Report Abuse

Dividend declared. Turnaround stock.

Stock

3 days ago | Report Abuse

Between Mah Sing and Scientex, I vote for the latter.

Stock

3 days ago | Report Abuse

Y-o-Y.

Revenue increased 7.7%.
Operating profit incread 77%.

Due to softening of dairy product cost.

Generated about 200 m net operating cash flow.

Cape was about 180 m.

New manufacturing facility will be opened in 2024.

😀

Stock

3 days ago | Report Abuse

Mr. XYZ owns a company that has plantations (planted and not planted), and other assets. In the early years, due to growth and expansion, the company borrowed and has sizeable debts. In fact, the total debt = total equity. The company generated consistent ROE of 5%. Its interest payments yearly was a certain amount.

It was then decided at the BOD that the company should pare down its debts. To do so, it will sell off a portion of the plantation (some unplanted and some unplanted). Doing so will realise a certain gain as these assets were acquired sometime ago and are now more valuable.

They sold off this asset and the cash was duly put to settle all the debts or a significant of their debts. This saved the company on the interest payments. Also, the company lost the income of the planted plantations which were sold. The company also plans to use some of the raised cash for capex involved in planting the raw plantation lands. At the same time, it too gave a portion of the cash to the shareholders who had been patiently waiting for some dividends for many years, though they did receive very meagre dividends almost every year.

Now, how do you value this company before and after the sale of some of the planted and unplanted plantations?
Will its revenues be higher, the same or lower, going forward? Will its earnings be higher, the same or lower, going forward? The latest "windfall" dividend, will this be sustainable or will it revert back to its meagre previous dividends? Will the company suddenly transform into a great company because it sold off some plantations, paid off its debts and raised some cash? Will its ROE changed significantly: for the better, the same or for the worse?

How do you price this company before and after the sale of some of its plantations?

Of course, Mr. XYZ realises the value of its land base. Should you project your value based on its future land value or based on its present ROE?

News & Blogs

4 days ago | Report Abuse

>>>
CynicalCyan

High dividend yield is not the only criteria we should look at, before investing in any stock. Most investors who got seduced by high dividend palm oil stocks last year, he or she would realise, the dividends last year can't cover the paper loss from the fall in share price until this year.

2023-07-10 22:51
>>>

Exactly. Just ask calvintaneng a very simple question and wait for his answer.

calvintaneng asked everyone to buy TSH when it was RM 1.78, citing the big dividends that this company was going to distribute. Yes, they did receive their dividends, but alas, the share price dropped to RM 1.05. Did they make money? Ask calvintaneng.

😀

News & Blogs

4 days ago | Report Abuse

>>>>

calvintaneng

Dear all sincere i3 forumers who visit here,

Please do your own due diligence before buying or selling any stocks

It is your hard earned money and in these very uncertain times better keep safe. If not sure just hold cash until you have clarity

Do not forget that Calvin has been in i3 for almost 10 years now and posted many stocks

>>>>


Far too many stocks recommended. Probably, every stock in BURSA. 😀

Stock

4 days ago | Report Abuse

Should you take the dividends or reinvest your dividends through the DRIP scheme?

I opine the better option is to reinvest your dividends through DRIP as Maybank's ROE was 9.6%, which is more than 2x that of the risk free interest rate.

Investing should be simple but not simpler. :-) 😀😀😀

Stock

4 days ago | Report Abuse

ht tps://myinvestingnotes.blogspot.com/2024/02/maybank-at-glance_25.html

10 Year from 2013 to 2022

Its revenues and PBT grew about 2% per year over this period.

Its average PBT margins was 22.5%.

Its average ROE was 10.7% and showing a downward trend. Its ROE in 2022 was 9.6%.

Its DPO was 80.5%. Thus, it retained only about 20% of its earnings.

Its DY in 2022 was 6.63%.

Over this period, it retained a total of RM 1.18 of its earnings and its share price rose RM 1.79 for the same period. Thus, $1 of retained earning is reflected fully in the rise of its share price.

During the 10 Yr, its BV per share grew from RM 1.721 to RM 7.127, as the company allowed its shareholders to increase their equity through DRIP (Dividend Reinvestment Program). Its NOSH grew from 8,645 million in 2013 to 12,054 in 2022.

Its P/B or P/NAPS fell from 1.9 in 2013 to 1.2 in 2022.

From 2013 to 2022, its capital appreciation in share price was RM 1.79 and it distributed RM 4.907 in dividends, increasing the value of the initial investment by RM 6.70. Given its initial price was RM 6.96 per share, this translated into a simple total gain of 96.3% for the period or a CAGR of 7%.

Stock

5 days ago | Report Abuse

ht tps://myinvestingnotes.blogspot.com/2024/02/pbb-at-glance.html

Stock

5 days ago | Report Abuse


Market Capital (RM) 86.960b
Number of Share 19.411b
Revenue (TTM) 24.930B
Net Profit (TTM) 6.748B
Net Margin (TTM) 27.1%
EPS (TTM) 34.76
P/E Ratio 12.89
ROE 12.68%
P/B Ratio 1.63
NTA 2.741

5y CAGR - Revenue 0.5%
5y CAGR - Profit 2.3%
Dividend (cent) 17.000 ^
Dividend Yield 3.79%

Stock

5 days ago | Report Abuse

2014 - 2023 (10 years)

Its revenues, PBT and EPS grew consistently consistently but at a very slow rate.

PBTMs were maintained around 34.4%. Its PBT in 2022 and 2023 grew faster due to higher PBT margins in these years.

ROEs averaged 14.3% over the last 10 years. The 10 year trend showed a downward slope and its latest ROE in 2023 was 12.2%.

Its DPO ratio was 47.9%.

It retained RM 1.53 per share of its earnings (for maintainance or for future growth) and it increased its EPS by 10.59 sen over the 10 years, giving a return on retained earnings RORE of 6.9%.

Its share price in 2013 was RM 3.44 per share and in 2022 was RM 4.15, a positive change of RM 0.71 per share.

Quoting Warren Buffett, for every $1 retained by the company, this should be reflected in its share price. In the case for PBBank, it retained RM 1.53 over the 10 years and its share price had risen RM 0.71 per share.

For those who bought this share in 2013 at RM 3.44 per share, they would have gained RM 0.71 per share in capital appreciation and received total dividends of RM 1.28: a 58% gain over 10 years ( approximately CAGR of 4.68%).

Retaining about 52.1% of its earnings and having a ROE of 12.2% are still very encouraging for the owners of this stock.

At P/BV of 1.6, it is priced at a premium to most banking stocks. With its ROE trending downwards, we can expect its P/BV to remain at present level or to decline further but slightly.

😀

Stock

5 days ago | Report Abuse

Contrast HLBank with Elsoft.

HLBank is a bank. Its business enjoys a stronger economic moat than that of Elsoft. The number of banks in a country is regulated.

Stock

5 days ago | Report Abuse

Today's price 19.56
ROE 10.69%
P/B 1.17
NTA 16.680

5yr CAGR Revenue 3.3%
5yr CAGR Profit 7.7%
DY 3.02%

Its price is in the fair price range.

Stock

5 days ago | Report Abuse

2014 - 2023

Its revenues, PBT and EPS have grown consistently.

PBTMs were maintained.

ROEs averaged 10.9%.

Its DPO ratio was 35.4%.

It retained RM 8.98 of its earnings (for maintainance or for growth) and increased its EPS by 79.16 sen over the 10 years, giving a return on retained earnings RORE of 8.8%.

Its share price in 2014 was RM 11.37 per share and in 2023 was RM 20.00, a positive change of RM 8.63 per share.

Quoting Warren Buffett, for every $1 retained by the company, this should be reflected in its share price. This was the case for HLBank. It retained RM 8.98 over the 10 years and its share price had risen RM 8.63 per share.

For those who bought this share in 2014 at RM 11.37 per share, they would have gained RM 8.63 per share in capital appreciation and received total dividends of RM 4.27: a 100% gain over 10 years ( approximately CAGR of 7%).

Retaining about 65% of its earnings and having a ROE of 10.9% are encouraging for the owners of this stock.

Keep this stock in your radar and when it is available at a bargain, you might like to add to your investment portfolio.

ht tps://myinvestingnotes.blogspot.com/2024/02/hlbank-at-glance.html

Stock

5 days ago | Report Abuse

ht tps://myinvestingnotes.blogspot.com/2024/02/elsoft-at-glance.html

Stock

5 days ago | Report Abuse

The fundamentals of this company have deteriorated significantly since year 2019. From high ROEs (30%+) from 2013 to 2018, its ROE was 5% in 2023.

Many lessons can be gained from studying this stock to benefit our investing.

It is extremely important to understand the business, its business model and particularly its economic moat(s) of a company. This is so essential, especially for those who are investing for the long term.

Regards.

Stock

6 days ago | Report Abuse

<<<
Posted by calvintaneng > 4 minutes ago | Report Abuse

Exactly! You hit the nail on the head chun chun!

I have a calling to come here to help the investing fraternity
>>>>


Calvintaneng’s DELUSION OF GRANDEUR.

General

6 days ago | Report Abuse

Hope this article enlightens us on billionaires, especially with so many news of billionaires recently in our local press and social media.

Quality: The Good versus Bad Billionaires

Good billionaires emerge outside "rent-seeking industries."

Common rent-seeking industries are construction, real estate, gambling, mining, steel, aluminum, oil, gas and other commodity sectors that mainly involve digging resources out of the ground.

In these businesses, major players often spend their time extracting maximum rents from limited national resources by bribing politicians if necessary, not growing national wealth in innovative ways.

New names on the billionaire list can be a favourable sign. Looking at the scale of billionaire fortunes is not enough to reveal the extent of their political vulnerabilities.



Comparing the share of the wealth generated by "bad billionaires."

To make a qualitative judgement about the sources of great fortunes, compare the total wealth of tycoons in these corruption prone businesses to that of all billionaires in the country.

This no doubt miscasts many honest mining and oil tycoons, but even in nations where these industries are relatively uncorrupt, they tend to make weak contributions to productivity and to tie the economy to the volatile swings of commodity prices.



Good billionaires

This label is for tycoons in industries that are known to make the largest contributions to growth in productivity or that make popular consumer products, like smartphones or cars.

These "good" industries are the ones least likely to generate backlashes against wealth creation; they include technology, manufacturing, pharmaceutical, and telecoms, as well as retail, e-commerce and entertainment.



How are nations generating their wealth?

Analysing billionaires does offer anecdotally telling, real-time evidence of how nations are generating wealth.

Countries with small percentage of bad billionaires
Among the largest developed economies of 2019, bad billionaires controlled the smallest shares of billionaire wealth: in Italy (7%) and France(9%) - a good sign for both countries.

Only 13% of Swedish billionaire wealth originates in rent seeking industries. Much of the rest is created at globally competitive companies, including H&M in fashion and IKEA in furniture retailing.

Countries with large percentage of bad billionaires
Few new or good billionaires are to be found in nations like Turkey or Russia, where aging regimes have turned away from reform and promoted favoured tycoons. The undisputed capital of connected tycoons is Moscow. Nearly 70% of Russian billionaire wealth comes from bad billionaires. The Kremlin treats billionaires with contempt, arbitrarily changing rules that govern their businesses knowing the public has little sympathy for a billionaire class widely perceived as corrupt.

Popular resentment against great wealth is palpable in Mexico as well, where bad billionaires also control close to 70% of billionaire wealth. Mexican tycoons are known for cornering industries such as telephones and concrete, which earn monopoly profits for their owners while driving up prices for consumers.

Bad billionaires typically arise in family empires, particularly in the emerging world, where weaker institutions make it easier for old families to cultivate political connections.

Stock

6 days ago | Report Abuse

When did calvin get interested in plantation stocks?

Stock

6 days ago | Report Abuse

>>>

Stock: [TSH]: TSH RESOURCES BHD

2 days ago | Report Abuse

>>>
calvintaneng

Many paid no attention when we told all to buy Thplant below 40 sen in nonchalant attitude

Suddenly Thplant shot past 80 sen

Heh heh heh heh
😁

2 hours ago

>>>

Over the last 10 years, the price of THPlant contracted from RM 1.80 to the present level.
If you study the prices of many companies, you will soon realise that it is not uncommon for a stock price to rise 50% from its lowest price and the drop its equivalent 1/3rd from its high in a 52 week period.

It is high claim to be able to buy at the lowest price and to sell at the highest price. At best, one can buy close to the lowest price and to sell close to the highest price. Also, at the lowest price and at the higest price, generally only a few transactions occured at those prices.

It is important to distinguish between what is the fluctuation in the market prices and not confuse this to be the prediction of a "genius".

Stock

6 days ago | Report Abuse

Plantation stocks retreat as weak earnings stoke concerns
By Justin Lim / theedgemalaysia.com
23 Feb 2024,



On Thursday (Feb 22), Sime Darby Plantation reported that its net profit had tumbled more than 64% to RM200 million for the three months ended Dec 31, 2023 (4QFY2023) from RM562 million a year before, weighed by lower average realised prices.

KLK’s net profit dropped 49% year-on-year to RM226.94 million in 1QFY2024, compared to RM443.04 million a year ago. Quarterly revenue contracted 16% to RM5.64 billion from RM6.71 billion.

Both Sime Darby Plantation and KLK expect palm oil prices to stay around current levels this year.

Stock

6 days ago | Report Abuse

Plantation stocks retreat as weak earnings stoke concerns
By Justin Lim / theedgemalaysia.com
23 Feb 2024,



On Thursday (Feb 22), Sime Darby Plantation reported that its net profit had tumbled more than 64% to RM200 million for the three months ended Dec 31, 2023 (4QFY2023) from RM562 million a year before, weighed by lower average realised prices.

KLK’s net profit dropped 49% year-on-year to RM226.94 million in 1QFY2024, compared to RM443.04 million a year ago. Quarterly revenue contracted 16% to RM5.64 billion from RM6.71 billion.

Both Sime Darby Plantation and KLK expect palm oil prices to stay around current levels this year.

Stock

1 week ago | Report Abuse

Once again, do not be fooled by noises generated by the forumer from Singapore. He is more like a snake oil salesman than an investor.

Yes, the CPO prices were high in 2021, 2022 and 2023. Many estate owners enjoyed huge profits.

Today the CPO prices and profit margins have normalised to those before 2021.

If you must buy a good plantation stock, look at United Plantation. It is very well run, highly profitable. Its ROE has been consistent and high.

As for JTiasa, it was a gruesome company. Most gruesome company remains gruesome. The reason it is trading at a discount to its NAV is obvious.

Many in the stock market should know that a lot of people lose money at time when a company's business enjoy a temporary good performance.

Regards

Stock

1 week ago | Report Abuse

Assuming you demand a return twice that of the risk free fixed deposit rates in our local banks, you will not buy this stock unless it is selling at below 70 sen per share. Yet, you will still need to demand a margin of safety on this buying price.

Regards

Stock

1 week ago | Report Abuse

TSH just released its latest quarterly results. With the full year earnings, its ROE was an unimpressive 4.6%.

Can you understand why it is not surprising it trades at a discount to its NAV?

General

1 week ago | Report Abuse

These words of wisdom from Benjamin Graham

In an interview shortly before he passed away, Graham provided us with these words of wisdom:

The main point is to have the right general principles and the character to stick to them.… The thing that I have been emphasizing in my own work for the last few years has been the group approach. To try to buy groups of stocks that meet some simple criterion for being undervalued—regardless of the industry and with very little attention to the individual company.… Imagine—there seems to be practically a foolproof way of getting good results out of common stock investment with a minimum of work. It seems too good to be true. But all I can tell you after 60 years of experience, it seems to stand up under any of the tests that I would make up.

That interview took place thirty-five years ago. Yet we still have an opportunity to benefit from Graham’s sage advice today.

I wish you all—the patience to succeed and the time to enjoy it. Good luck.



Book: Joel Greenblatt: The Big Secret for the Small Investor (2001)