@Sslee are you going to attend Jtiasa AGM?

wait for insider to buy only go in.

@Sslee @calvintaneng
Can help to elaborate pg 142 of annual report, it states "It is assumed that the harvested timber will be sold locally. The export of planted timber extracted
from reforested plantation is currently suspended by the Government of Sarawak until further
notice. In addition, the Group has not obtained the license to harvest the reforested plantation."

So who are actually harvesting and selling the log in Jtiasa monthly production report?

The dividend payout is only around 2.6% of NAV, so to the management fee its quite insignificant.

Its so interesting to watch its share price trading below the DRP offer price. Hope it drops further so i can buy from market.

Dont think it got anything to do with petrol subsidy, pecca, bauto still holding strong. though drbhicom also in downtrend

wondering why the stock keep dropping, the last QTR report looks good.
Is PROTON cutting local supply chain further?

It doesnt matter if no one will participate in DRP. if there's no participation, the fund size shrinks and less liquidity, thats all. Berkshire-A shares don't split because they don't want too many trading activities on it.

will wait till company start buy back or insider buying.

despite a lot of challenging question all carried above 98%.

All carried . LOL

For Capital A shareholders point of view, they will support this, The challenge lays in RCUIDS holders and AAX shareholders

Sleep on it, wake up at November for qtr report

anyone going AGM? I'll bring some popcorn for drama.

24'Q3 CPO Production is almost as 23'Q4
But Average price is ~7% stronger than 23'Q4
23'Q4 company get RM134million FCF
So coming qtr announcement should be ~145million

Pray declare dividend 7sens per share.

Hope the company benefit from the property boost in China latest policy.

Any chance to get at 0.60?

Time to fly :)

We public shareholders shall take advantage by queueing low at a huge discount when COL decides to trim down their stakes.

Ignore the noises from short term traders.

Are we getting buffet lunch at coming AGM?

Before the tariff kicks in, I expect China manufacturer will maximise machine operation tosell as much as possible, even at losses to recover invested capital. before the equipment and raw material become scrap.

@valueinvestor888 Jtiasa has minimal exposure towards USD, USD weaken by 5% they only loss 161k based on AR 2023.

Can sleep going forward, until the group decide to do something to those landbanks

@Sslee where can the corporate presentation be view?

Despite all the accusation in i3, the nav growth performance with such long period of holding cash already put icap in top tier performance among local funds.

4 years (personal) projection:
acquired solar company can deliver 11mil net profit a year
add in issuance to QL which result around 30mil net profit a year
BMGreen existing business generate EBIIT 60mil a year (Annualised based on latest qtr)
Total EBITDA ~ 101million
divide by ~688million shares issue
multiply PE 20

TP ~RM3

The right issue is for investor who prefer to reinvest the money instead of cashing out via dividend.

Will they bid for contracts from datacenter and warehousing to install AIOT solar system for them.

From this article, its not just about Solar, but IOT powered Solar
https://www.nst.com.my/lifestyle/bots/2020/09/622839/tech-digitising-energy-usage

https://www.tatlerasia.com/people/ko-chuan-zhen

The company BM Green plans to acquire has a very solid portfolio in installation. which means they are moving into large scale projects.

Operating cash flow - capex

The latest quarter generate free cash flow of 25million, if annualise towards 75million. and market gives the company 20x valuation, company marketcap would trade around 1.5billion with share price around RM2.60 level.

They company can bring full scale solution to indonesia :) which is a market many x bigger than Msia.

@Save the nett cash position improve slightly from 16mil to 27mil

@sslee why 0.01 sen apart instead of 0.05 or 0.1 sen apart?

@sslee what's the strategy on collecting every 0.01 sen down?

@sslee,
There's a labour shortage since covid for many quarters. the company pays a higher incentives to boost harvest.
The board has said they pay hire incentive tor longer working hours and local to harvest. Whether labour force target is met now is unknown.

Maybe ask @calvintaneng or wait till AGM.

Patiently waiting for Indonesia plant to operate in full scale fabrication.

There's nothing suspicious.

Jayatiasa include labour cost as part of the cost of goods.
They have to pay all the foreign labours all year round regardless low or high crop, hence during low season the gross margin will fall be low 20%.

Dont be lazy, you just need to look back '23 same qtr will do.
:P

Quarter Comparison

Revenue
Mar '23 Qtr : 176 million
Mar '24 Qtr : 209 million (20% higher)

EBIT
Mar '23 Qtr : 20.37 million
Mar '24 Qtr : 20 million (0.2% lower)

Operating Cash Flow
Mar '23 Qtr : 15 million
Mar '24 Qtr : 53 million (3.5x)

Free Cash Flow
Mar '23 Qtr : 3.3 million
Mar '24 Qtr : 35 million (10x)

John is posting extraction from ICAP newsletter, it's not evidence John is TTB.
Even John is TTB, he is not obligated to answer queries from non shareholders, but you can purchase some ICAP shares to post question to him :p

https://www.cnbc.com/2024/05/23/a-sudden-container-crunch-is-sending-ocean-freight-rates-soaring.html

Would this benefit the company?

Looks like it. Increasing such high stake in such short time.

For long term investor, just buy when someone is letting go at dirt cheap price.
How cheap should you consider buying? that depends on your appetite and level of greed.
Just dont get smoked until you trim your position.

Price please drop further, I'm hungry

Tan Sri Liew trim his stake by ~20million in past one year
Ecoworld Capital buy 48million in one week

Looking fwd for development value to be unlock.

Opportunity 😋

I don't have the ability to predict the market 🤓

CEF is like stock, it will trade at premium when demand > supply. you also can view it like REITS, why some reits is trading at a higher premium over their NTA or even yield compare to their peers?

may be dreaming, but that's my valuation :)

Different people has different capital allocation strategy, especially tycoons who have more investment apportunity than us.

You could also ask why PARAMOUNT willing to pay 0.33 if they dont value it signicantly higher. and PARAMOUNT is known to be conservative.

Looking fwd EWINT to trade at fair value above 80 sens.