Dear Fellow Investors

So far so good

Bplant, Tsh Resources, Hs Plant & Taann have posted their results

Out of all four 3 have again proposed dividends

Bplant = 3.3 sen dividend

Tsh Resources = 2.5 sen dividend

Hs Plant = 7 sen dividend

Taann = No dividend for now but a good one is coming

Now let us take a Deeper Look

1) BPLANT

This is an excellent dividend share

Giving 60% of profit as dividend

Last two years Bplant gave out dividend 4 times

This year just started with a nice 3.3 sen & more will come

See

2) TSH RESOURCES

Tsh Resources has reported an excellent Results

Refer to Bursa Website & See TSH Latest results

See PAX (Profit after Tax) is Rm45.2 Millions

or 3.28 sen profit from operation

Dividend is 2.5 sen

Nav is Rm1.37

Now go back and See Nov 2022 results below

In November 2022 After TSH received part payment for Bulugan Land Sold it reported a nice profit of 18.7 sen & declared a dividend of 8 sen

Nav was up at Rm1.50

Now take careful notice

Why NAv in Feb 2023 dropped from Rm1.50 to Rm1.37?

The answer is = TSH has given out its dividends & so Nav has been reduced

And in January 2023 TSH reported the full balance payment sum of Rm731.09 Millions for Bulugan land sold

How much?

Ah! We finally got the exact figures from Latest Qtr report

Let's go SEE

Under Note 7 (b) refer to Bursa webpage : Tsh results

On 4 April 2022, BCAP, PT Kawasan Industri Kalimantan Indonesia (“KIKI”) and PT

Kalimantan Industrial Park Indonesia (“KIPI”) had entered into a conditional sale,

purchase and compensation of land agreement for the proposed disposal by BCAP of

13,214.90 hectares of certificated land together with the 683.36 hectares of uncertified

land adjoining thereto (collectively referred to as “the Sale Land”) for a total cash

consideration of IDR 2,428.86 billion (or equivalent to approximately RM731.09

million).

On 8 August 2022, the disposal of 7,817.37 hectares of certificated land was completed.

As at 31 December 2022, total proceeds raised from the disposal was RM428.8 million

and was fully utilised by the Group as follows:

Read again

“the Sale Land”) for a total cash

consideration of IDR 2,428.86 billion (or equivalent to approximately RM731.09

million).

Calvin repeat  : Land sold Rm731.09 millions

As at 31 December 2022, total proceeds raised from the disposal was RM428.8 million

And total received SUM REVEALED: Rm428.8 Millions

Calvin repeat: Now we have the real figure for 2nd Payment in January 2023 (Not on time for Feb 2023 resullt which only report for Oct to Dec 2022 months

How much?

Just deduct Rm428.8 Millions from Rm731.09 Millions = Rm302.29 Millions

THAT'S IT!!

THIS SUM OF RM302.29 MILLIONS HAVE BEEN RECEIVED AS PURE "CASH" PAYMENT BY TSH IN JAN 2023 BUT YET TO BE INCLUDED IN BALANCE SHEET

THIS WILL ONLY BE REPORTED IN MAY 2023 WHEN TSH REPORT ITS EARNINGS FOR JAN TO MARCH 2023

And how much Cash is Rm302.29 Millions

The formula is simple and a short cut in maths (Maths happen to be Calvin's forte & top favourite subject in School , haha!

No guess work in Maths.

Just divide Rm302.29 Millions by Rm45.257 Millions

= 6.679

And multiply by 3.28

= 21.9 Sen Cash

Now When Bulugan Land was Sold for Rm731.09 Milions the profit was Rm465 Millions or about 63.6%

And reported as 18.7 sen profit in Nov 2022 results

So we give a similar 63.6% profit for 21.9 sen

or 21.9 X .636

= 13.9 sen 

This is be the balance profit from Bulugan land Sold

And if we assume Tsh will mane the same 3.28 sen profit this qtr froim operation

Then May 2023 results will be

13.9 sen (land sold profit) + 3.28 sen (projected profit)

= 17.2 sen

It will be more or less 17.2 sen profit for May 2023 more or less subjected to any impairment or gain

Let us wait till May 2023 will know

In any cash TSH has again declared a 2.5 sen dividend

This latest results show that Tsh has Rm560 Million in borrowings & Cash of Rm375 Millions or just only Rm185 Millions

Rm302.29 Millions Cash has come in handily & in principle TSH is now debt free

Plus a Surplus Cash position of over Rm117 Millions in excess Cash

All the very Best to TSH BOD (Board of Directors)

Well Done!

3) HS PLANT

Hs Plant has declared a Dividend of 7 sen this Qtr

At Rm1.91 the dividend yield is

7/191 = 3.6% (already matching)

A look at its balance sheet shows that Hs Plant Cash Position has improved to Rm505 Millions from Rm498 Millions or 63 sen Cash per share

Since Hs Plant pays 2 dividends a year we expect by Aug 2023 Hs Plant will give a matching or even better dividend to make it 7%

Note: Fong Siling aka Cold Eye the savvy investor is in Top 30 Shareholders of Hs Plant

4) TAANN

Of the 4 Taann has not declared a dividend this qtr

Take a brief rest ok after all TAANN already gave 4 Dividend Payout last year

See

Note: Both Hs Plant as well as TAANN reported impairment on its biological assets only

Its Cash Position in fact have never been so healthy like now

Refer Bursa Website on TAANN results

Cash of TAANN improved from Rm454 Milions to Rm523 Millions (Up RM69 MILLIONS IN CASH

Borrowings dropped from Rm231 Millions to Rm215 Millions (LESS by Rm16 Millions)

NOTE MORE CAREFULLY ON TAANN GOOD RESULTS

NAV UP FROM RM3.63 to Rm3.94 = Up by 31 sen

SEE: If you take A DEEPER LOOK AT PALM OIL SHARES 

THEY ARE ALL GOOD TO EXCELLENT

With Kind Regards

Calvin Tan

Please buy or sell after doing your own due diligence & in doubt consult your own Remisier or Fund Manager