Q2 2024 EPS 1.49 sen
Q1 2024 EPS 1.45 sen

For 1H 2024, EPS of TSH was 2.94 sen.
Annualised this earning gives projected EPS of TSH for this year to be about 6 sen.

Its NTA is RM1.49 per share.
Its ROE is 4%
Its DPS for 2023 was 2.5 sen

Are you willing to pay a premium or a discount to its book value given the above fundamentals?


Better to avoid this stock altogether (please make your own judgement). Limited upside.

Our Singaporean friend lost all his credibility when he promoted NETX. He was hoping to hype, pump and dump this stock, a pattern that was repeated many times from his participation in past forums and now in this forum. Interestingly, our Singaporean friend has some faithful followers and backers who participated in this game with him.

The BFS-STS is an interesting observation. That is also perhaps the reason that it is so important for our Singaporean to promote repeatedly and incessantly, besides creating many other channels, whats-app groups etc to do likewise.

Eventually, the market is efficient most of the time. Our Singaporean friend's performance, as noted by many here, is not commensurate to the vast efforts he put into the process. Not learning from one mistake is characteristic of a fo-0l.

Study the cash that was raised by TSH through selling its assets.

What happened to this cash? It was clearly explained in the quarterly report.

A large portion was used to reduce its huge debt. This was a good thing for the company.

TSH will also use a portion to replant new acreages.

Its net cash roughly equals the sum of its short and long term borrowings.

What will be its recurring earnings going forward?
How much dividends can be expected from these projected earnings?



Conclusion: look for another company with higher quality business and with better upside/downside ratio to invest long term.

Actually it is extremely easy to place a value on TSH. Given its low level of ROE, it should NOT be trading at higher than its NTA.

Investing us simple but not easy for our Singaporean friend who is lost in massive data. He failed to see the wood for the trees.

Our modest Singaporean friend posted his target price of RM 1.50. He was telling everyone to buy at RM 1.78 in recent past. For the FIRST time, he is admitting his Mr. Market behavioural problems. :-)

Once again, a load of writing of little value.

Society will need a re-think. Left to free market forces, and driven by capital and intelligent hardwork, big institutions will dominate the market place. There must be room for the "ma and pa shops" in our communities.

Many institutions sold DLady when it cut its dividends. These institutions were probably mandated to look at income in their portfolio.

The reason for the cut in dividends was obvious. DLady redirected this to fund its new factory in Negri Sembilan. Remarkably, it continues to pay dividends (though diminished) and has not borrowed heavily to fund the factory.

Once the factory is up and running, we can expect the dividends to increase again. But I should not be sharing this too openly as I wish for the stock price to be down since I like to buy grocery cheap. :-)

>>>
CharlieM

“On a like-for-like basis, operating profit excluding accelerated depreciation and one-off costs stands at RM45.2 million, reflecting a substantial 19.7% increase compared to the same quarter in 2023.”

17 hours ago
>>>


This statement in the latest quarterly report shows its business operation is improving.

Read Common Stocks and Uncommon Profits by Philip Fisher. In the book, he described why he loved a company that had to spend a lot of money to build up its manufacturing facilities and in the interim reported challenging earnings. Going forward, there will still be more expenses to put the whole factory in efficient operation. After that, DLady will be firing on all 4 cyclinders (hopefully ;-) )

Charlie Munger mentioned that he knew of no economist who were fabulously rich based on their predictions of the stock market.

iCapital does a lot of analysis of economic activities of many countries and business sectors. This ability probably did not reward its owner(s) as much as collecting the fees from managing assets.

SSLee Value investing is very much pricing the market/stock, and not timing the market/stock.

>>>
Berlin

Seriously, I'll give two hoots to the Singaporean serial commentator. One of laughter and one of derision. That's no more than he deserves. Yet he won't desist.
>>>

No one responded to his TSH thread in the i3 Singapore site. I think the Singaporean forum participants know a Singaporean-ex-Malaysian non-starter quickly.

Many are trapped in PMCorp for many years. What was perceived to be deeply undervalued (based on P/B) remains "undervalued today" still. Anyway, these are the terrible stocks that our Singaporean friend thinks he has expertise in. But without a good catalyst, he had to shout loudly in various forums. I noticed few gave him a hoot in the Singaporean i3 site on his plantation posts.

https://www.google.com/search?q=pmcorp+share+price&rlz=1C1ONGR_enMY1047MY1047&oq=pmcorp+&gs_lcrp=EgZjaHJvbWUqDwgBECMYJxidAhiABBiKBTIGCAAQRRg5Mg8IARAjGCcYnQIYgAQYigUyBwgCEAAYgAQyBwgDEAAYgAQyBggEEAAYHjIGCAUQRRg9MgYIBhBFGD0yBggHEEUYPdIBCDYwNjRqMGo0qAIAsAIB&sourceid=chrome&ie=UTF-8

Price chart of PMCorp

The story of Investlah

It was the site where our Singaporean friend was playing his game for many years. It was obvious that he had multiple names in that forum. Our Singaporean friend portrayed himself as a deep value investor, and had the ability to spot very very cheap stock(s). Our Singaporean friend often worked the stocks together with a few others. It was obvious that they were not totally honest. It was too obvious the many hypes and dumps that occurred in that forum. But then, it was almost impossible to avoid these manipulations, or speculations in any forum. Thus, participants have to be aware themselves.

Johnmaster (Johnmaste rbate) was a character who enjoyed writing long articles espounding how he found an undervalued stock. (Not sure if Johnmaster is also the same as a Singaporean here :-) ). He was the one who made GSB a famous stock. Ha ha.

When the journey became tough in investlah, especially when many who were in the forum became knowledgeable and aware of the many schemes in investlah, these "popular" manipulators or players disappeard one by one. Also, it was at that time that i3 investor site appeared.

Comparing investlah and i3 investor, i3 investor site provides more value for those who are in this site. It provides various financial datas and charts when investlah was just mainly for one to chit-chat only. Overtime, investlah lost its popularity. It was sad to know that this site investlah is no longer accessible. There are many good threads in there for one to learn retrospectively in investing.

Cheers.

Our Singaporean friend's involvement with NETX. This was well known and documented. The facts speak loudly.

Also, this post too. 9 out of 10 of his recommendations over a short or long period tanked. TOP 10 OVERSOLD STOCKS TO BUY NOW WHILE STILL VERY CHEAP! (Calvin Tan Research). https://klse.i3investor.com/web/forum/forum-thread/600130378

Our Singapore friend is truly dishonest. What he showed is not what was observed live in this forum.

Retrospective posts are so unbelievable. Next to silly.

Its long term debt and interest payment have increased significantly over the last year.
It needed to pump in capital to grow its business.

The increase in Revenue of RM57.40 million (or 31.05%) and the increase in PAT of RM53.99 million (or 48.49%) was a result of:
i) contribution from services from our Zetrix blockchain platform such as ZCert and Digital ID
registration and transaction; and
ii) contribution from the sale of Zetrix tokens.

Despite the buying and selling activities of the major shareholder, his shareholding has not changed significantly since January 2024.

Reported a good quarter. At its presence price, seems good value.

Our Singaporean friend provides a lot of entertaining here, though a lot of his posts are not useful. Everyone can read a book and claims to be an expert here and there. But it is the temperament and discipline in implementing all these strategies that are most important. One should have an investing philosophy and stay within your circle of competence.

Otherwise, you will end up promoting NETX and your TOP 10 OVERSOLD STOCKS TO BUY NOW WHILE STILL VERY CHEAP! (Calvin Tan Research). https://klse.i3investor.com/web/forum/forum-thread/600130378

The enemy of your cash is INFLATION.
The friend of your cash is COMPOUNDING.

Total equity 31.3.2024 RM 674.7m

@1.65, it is probably overpriced.

My fair value for this stock $1.07 to $1.28

At listing: 8.4b shares @ retail price of 1.65 per share. Market cap = $13.86 billion.

FYE 2023
Earnings $400.2 m (EPS 4.76 sen)
Equity $541 million

ROE 74%
P/E 34.7x
P/B 25.6x

At listing: 8.4b shares @ retail price of 1.65 per share. Market cap = $13.86 billion.

FYE 2023
Earnings $400.2 m (EPS 4.76 sen)
Equity $541 million

ROE 74%
P/E 34.7x
P/B 25.6x

Announced a good quarter.
This company is in a matured sector.
Its revenues and earnings have been flat for many years.
However, it is generating good FCFs and dividends.
The 1H results for this year had been better than previous years.
Probably can expect higher revenues, earnings and slight increase in dividend for this year.

Compounding is truly magical at the end of the long compounding period.

The person who invested at age 20 years, the last doubling from age of 54 to 61 was $64 - $32 = $32. This $32 incremental gain in his portfolio value is MORE than all the doubling gains of his portfolio from age 20 to age 54.

This is a HUGE FIGURE.

😄😀😄😀😄😀😄😀😄😀

Power of compounding.  K.I.S.S.

Start investing early.
Assuming the portfolio of stocks give a 10% return yearly or doubling every 7 years:

Number of compounding years .. Outcome

O $1
7   $2
14 $4
21 $8
27 $16
34 $32
41 $64

A person invested 1k at age 20 years and compounding at 10% yearly, his investment grew to 64k, when he was 61 years old (41 years later).

A person invested 1k at age 40 years and compounding at 10% yearly, his investment grew to 8k, when he was 61 years old (21 years later).

A person invested 1k at age 54 years and compounding at 10% yearly, his investment grew to 2k, when he was 61 years old (7 years later).



INVEST EARLY.

For very long term portfolio of stocks:

Stay with

QUALITY
GROWTH
INTEGRITY
ECONOMIC MOAT
FAIR OR UNDERVALUE (WHEN BUYING)
REINVEST THE DIVIDENDS
IDEALLY HOLD FOREVER


When to sell such stocks? ALMOST NEVER.

EXCEPTIONS:
WHEN ITS FUNDAMENTALS DETERIORATED PERMANENTLY (SELL ALL)
WHEN IT IS OVERPRICED (MAY OR MAY NOT CHOOSE TO SELL SOME)
SELL TO REINVEST INTO A HIGHER QUALITY STOCK WITH HIGHER UPSIDE:DOWNSIDE POTENTIAL.


KEEP INVESTING SIMPLE AND SAFE. K.I.S.S.

For very long term portfolio of stocks:

Stay with

QUALITY
GROWTH
INTEGRITY
ECONOMIC MOAT
FAIR OR UNDERVALUE (WHEN BUYING)
REINVEST THE DIVIDENDS
IDEALLY HOLD FOREVER


When to sell such stocks? ALMOST NEVER.

EXCEPTIONS:
WHEN ITS FUNDAMENTALS DETERIORATED PERMANENTLY (SELL ALL)
WHEN IT IS OVERPRICED (MAY OR MAY NOT CHOOSE TO SELL SOME)
SELL TO REINVEST INTO A HIGHER QUALITY STOCK WITH HIGHER UPSIDE:DOWNSIDE POTENTIAL.


KEEP INVESTING SIMPLE AND SAFE. K.I.S.S.

My intrinsic value for PBB is 6.70. :-)

Nusantara is a project by Jokowi. Yes, Jakarta has a problem. It is also densely populated.

Jokowi's idea is to move the capital to Nusantara. There will be a number of teething and unique issues. It is the government that is moving. The administrative part. Jakarta will still remain the center for economic matters.

It is so very important to define one's circle of competence. Buffett says the most important point is to stay within its boundary.

Our Singapore friend is so good in dabbling in so many stocks. He probably had recommended hundreds of stocks in this forum. His "circle of competence" of so large. (The truth is not so palatable. Buffett would have said that this Singaporean friend does not know his circle of competence, especially in stocks.)

Just because our Singaporean friend dealt with properties, he expanded his "expertise" to so many ridiculous recommendations. From my observations, so many of them did not come true.

Great minds talk on issues.

The best manipulator I observed in the social media to-date. The promoter wrote a thread: "Patimas - target price 30 sen." He was able to relentlessly promote this stock. It was a PN17 stock. Every so often, news appeared. Restructuring was eminent. A new project. A new shareholder, including Tencent. He was able to entice so many to buy into this stock pushing the price upwards to above 30 sen from one that was probably closer to 1 or 2 sen. He succeeded manificently. I think the major shareholders were able to unload all their shares to the new shareholders. Soon, no more promotions. No more news. The negatives started coming out. The price tanked to nil. It was delisted.

The promoter of this was the best I have observed. He did it once only and soon disappeared. He never reappear in any of the social forum I know of subsequently. He lied and was able to fool all the new shareholders ONCE. There were certainly a lot of pain ( "a lot of blood spilt on the street") as ALWAYS when a bubble collapsed.

The grandfather and grand-daughter story. What will be the responses of the neighours when he continues to repeat the lie? :-)

What is excessive lying? Just observe the behaviour of our Singaporean friend in the Netx thread to know all about pathological lying.

A lot of hot air on TSH by our Singaporean friend. The truth is he knows little about Nusantara but his pride prevents him from admitting this. Just like our Singaporean friend was all knowledgeable and certain on his eagle-eyed Netx, which showed him to be otherwise and a fool.

A fool is one who fails to learn from his mistakes and continues to do the same things hoping for different outcomes. An obvious lesson is a GRUESOME COMPANY CAN REMAIN GRUESOME FOR A VERY LONG TIME. Another is many lost money because they "fell in love" with the gruesome company at a time when it showed a temporary period of good fortune. More painful still is the opportunity costs of not investing in a great company that has delivered gains in the same period.


https://klse.i3investor.com/web/forum/forum-thread/600130378

Might our Singaporean friend be a better investor if he had taken time to study his own mistakes, before continuing to show to others his prowess and cleverness

Our Singaporean friend writes a lot, but there is little substance in his written diarrhoea.
His huge number of posts and promotions should be placed in this context.

GSB was a stock that our Singaporean friend recommended and many lost their investments. The original owner has sold this company altogether.

I will occasionally look at this counter now and again. Its price was rising steadily to 80 sen per share. Today's price was a shock to me after having not looked at it for a couple of months.

>>>
calvintaneng

Target prices

See

Aminvest: TSH = Rm1.20

Kenanga: TSH = Rm1.30

Our Target Price: TSH = Rm1.50 to Rm2.00

3 hours ago
>>>

Sure boh. Are you truthful? My Singaporean friend was asking forum participants to buy at 1.78 and I am sure he was saying it was severely undervalued at that price, which also meant his target price was a lot higher.

You cannot get a good deal from someone who is dishonest.

Great minds talk ideas
Good minds talk things
Weak minds talk people

Great man talks about issues.
Small minds talk flippingly about many stocks and their prices.

How is the power plant project in Vietnam contributing to Jak's top and bottom lines today?

After GSB was taken by the new owners, it was renamed and though I have not analysed it in detail, the new owners are probably doing a better job with this company than the previous owners.

Our Singaporean friend continues to commit the same mistake. A fool does not learn from his mistakes. We shall learn from him. :-)

GSB was promoted by our Singaporean friend. It was a property development company, having completed a few small projects successfully, but burdened with debt. It was not growing its business as this required more capital and borrowings. GSB then sold an existing poorly managed hotel for $12 m. Our Singaporean friend crowed loudly how GSB was going to be transformed from a debt rich to a cash rich company. How it was deeply undervalued (??). How this new cash meant the shareholders would be rewarded hugely? Imagine at the price, the potential dividend yield might be this or that. Also, the new projects would deliver various revenues and earnings.

Alas, all these did not come true. GSB was bogged down by its new projects. Selling the hotel allowed it to breath but did not improved the fortune of this company. Of course, its business was a challenging one, especially for a capital intensive company with little capital and poor recurrent cash flow. Its CD business was a sunset industry.

Even if it were successful in delivering its last project, how much earnings can accrued to the company or its shareholders. Our manic (delusional) Singaporean friend projected the earnings of GSB to the strastosphere. Although he did not sell his 8 houses to invest into this (which he did in Netx), he was nevertheless promoting this stock just like it was another of his "eagle eyed" pick.

A wise man learns from others' mistakes. A fool continues to repeat his own mistakes.

Good morning.

So many who followed our Singaporean friend's over-enthusiastic (evil) promotion of Netx lost a lot of money in Netx. The devil even exposed his nakedness by sharing he sold 8 houses to invest into his next sure multibaggers of Netx. All those who did not listen to our Singaporean friend's recommendation of Next was labelled arrogantly by this Singaporean Tua Pao Sien (an appropriate description indeed). :-)


Our Singaporean friend promoted so many stocks. Don't expect to have a good deal from someone with no integrity. Do you think the promotions were to enrich the masses here? :-) :-) Ha ha

How much credibility? TSH was cheap at 1.78 and our Singaporean was promoting this as a buy for almost 2 years now! Of course, he is trapped at that price.

Our Singaporean friend here lacks credibility. Spamming everyday. It is so important that he must broadcast so much noise everyday. :-)

Even the admin was misled that this Singaporean is an "expert" on oil palm! :-)

Our Singaporean friend here lacks credibility. Spamming everyday. It is so important that he must broadcast so much noise everyday. :-)

Even the admin was misled that this Singaporean is an "expert" on oil palm! :-)