Charter rate leap up significantly and steady only after June. Therefore, upcoming Q result Q3 which cover July to Sept will record average 30k/ day.

Maybulk in Q2 only record charter rate 17k/day increase 34% from 12k/ day in Q1. These increase 34% in charter rate enable maybulk to increase net profit 24%. Current charter rate is 30k/day, a massive 150% increase in charter rate, will only reflect in next Q result.

Maybulk opt to sell old supramax fleet for net proceed RM 208m is gain of 75% on book value. These gain will reflect in next Q result.

The higher charter rate of 30k/day is more than to cover disposal of 2 old small supramax vessel build in 2014l. The proceed of RM 208m will essentially turn maybulk into Net cash position, about 12sen/share.

Maybulk will opt to retain bigger vessel size panamax which is newer and fetch higher charter rate 33k/day if compare to smaller, older vessel supramax 29k/day.

Maybulk current total borrowing RM 180m
Maybulk current total cash RM 90m
Maybulk net proceed from disposal 2 old fleet build in 2014, RM 208m

Total net cash RM 118m, net cash per share 12sen/ share

IPP is build and manage by China partner, jaks derive construction profit by subcin to its China partner.

Jaks have bad record in Msia business, all incur loss making construction orderbook all incur loss, property mall all incur loss, property development all incur loss. Currently, jaks only exit in property development, but still retain loss making construction due to lack labour to execute project and loss making shopping mall.

Only IPP from Vietnam is profitable, but offset partially by these culprit business in Msia.

Agreed, jaks next major laggard is its 2 big investment in shopping mall, Pacific mall and evolve mall. Both mall current suffering low occupancy rate, loss making eroded jaks power prfot from Vietnam.

Price now is at very attractive re entry level.

In time of market turbulence, it is best to have business model that is concession for 25year, steady profit income in USD, tax exampted

Boustead is in urgent need to unlock embedded value on its listing subsidiary in order to raise cash pare down debt and resume dividend payout to LTAT.

It is best time to monetize palm assets in view of multi year high CPO price. Among the cash rich big cap palm stock, wilmar, klk, IOI have such financial strength to take over at attractive offer price.

Outbreak in china case have prompt lockdown in City, testing is carry out for entire city population. Therefore, the testing glove and absorb production volume from China manufacture

Pjseow

Supermax management Pro. Use to distribute all treasury share, 1 for 27 = 3.78% treasury share..

The final cash dividend is based on 20% dividend policy

Q4 profit RM 1 billion is based on unchanged ASP contractual orderbook + absence of 75n one off donation + absence on closing down 1 month in meru plant, - offset partially by 1 month june 60% workforce and higher feed cost like gas traffic, butadiene, rubber latex etc

Harta should record profit RM 1.3 billion or EPS 37sen

Harta should also declare dividend 22sen

What to expect from supermax upcoming result are

1. Profit RM 1 billion or EPS 40sen
2. Special share dividend 1 for 27 or about 13sen
3. Final cash dividend 13sen

Ioi Corp get ready cash worth USD 600m, ready for Merger and acquisition for growth. Bstead may divest BPlant to Ioi corp

Sizeable plantation Estate is hard to find now for ioi Corp to growth. Furthermore, no many wiling to sell their prime estate at current windfall CPO price, but, bstead holding force to do that in order to pare down debt through unlock deep value in bstead plantation. B

Crack spread now nearly hit USD 10, triple higher than Q1 spread.

Sizeable plantation Estate is hard to find now for ioi Corp to growth. Furthermore, no many wiling to sell their prime estate at current windfall CPO price, but, bstead holding force to do that in order to pare down its borrowing

Ioi Corp get ready cash worth USD 600m, ready for Merger and acquisition for growth. Bstead may divest BPlant to Ioi corp

Maybulk share price now trade at unreasonable depress valuation in view of surge in charter rate, USD profit, unaffected International seaborne operation.

pjseow

Sorry, i quoted wrongly on distribution earning ratio.

pjseow, glove is export through seaborne, bulk container batch by batch, travel time need month before it reach distribution center and end user.

In previous up ASP up cycle, supermax distribution division take instant advantage to mark to market price, resulted, supermax distribution division contribute as high as 70% of supermax earning, with balance from manufacturing division. If you check recent last 2Q result, supermax distribution division contribution ratio is on downward to 35%, with balance from manufacturing division as ex-factory price catch up.

If you check supermax prepayment received from customer deposit, it have down significantly and lead time have down from > 300days to 50-60 day in such a short period, implying many supply of glove have catch up.

Nonetheless, supermax will still record good profit and declare good final dividend and treasury share to reward shareholder, but the profit will be on downtrend basis in next Q with lower ASP + lockdown impact + 60% workforce.

Hi pjseow

Supermax OBM model and get rid of middleman agent render it to direct exposure in the event ASP downward. There will no middleman agent to absorb stockpile loss

When ASP is uptrend, supermax OBM model is the first to catch up positive hike impact, and grab 2 source of income from distributions and manufacturing.

Wonder what will impact on supermax when ASP start to downtrend!?

The logic will be, supermax distribution division will start hit negative impact due stockpile loss. Supermax manufacture will still record profit but at lower ex-factory selling price.

Glove making have very low entry barrier, many exiting and. New. Comer from China, Thailand manufacturer have increase production volume at fastest speed than in Malaysia. The increase in production volume is at billion glove court, which is more than enough to cover resurgent in infection testing

Boustead previously did palm oil based REITS, listed for few year, but delist later at higher offer price.

The best solution to settle boustead holding debt burden is outright divest its prime jewel boustead planation or take over first, lease to REITS or sell at even high price later.

LTAT should at first place privatise boustead planation instead of privatise boustead holding. These is because privatize it's holding without take over its subsidiary is waste of corporate exercise.

For CPO exposure, better opt for Boustead plantation. It is major target from its control. Boustead holding to unlock its assets by either

1. Privatise boustead planation
2. Divest boustead plantation alike ijm plantation
3. Partial sell palm estate

For CPO exposure, better opt for Boustead plantation. It is major target from its control. Boustead holding to unlock its assets by either

1. Privatise boustead planation
2. Divest boustead plantation alike ijm plantation
3. Partial sell palm estate

For CPO exposure, better opt for Boustead plantation. It is major target from its control. Boustead holding to unlock its assets by either

1. Privatise boustead planation
2. Divest boustead plantation alike ijm plantation
3. Partial sell palm estate

When ASP is uptrend, supermax OBM model is the first to catch up positive hike impact, and grab 2 source of income from distributions and manufacturing.

Wonder what will impact on supermax when ASP start to downtrend!? I think supermax distribution division will start hit negative impact on withholding stock piling loss, while manufacture to record lower ex-factory selling price.

Use balance capital, bought boustead at 62sen

USD vs MYR = 4.23. USD have strengthen 20sen since 2021. Maybulk charter rate is in USD, higher USD is Extra bonus for RM profit on top of higher charter rate.

USD vs MYR = 4.23 up 20sen since year 2021. Maybulk charter rate is USD denominated.

Plantation is only few sector unaffected by MCO. unlike other essential sector which still subject to limit workforce capacity, contrary, full operation plantation is facing shortage workforce.

Cash dividend payout is Real. Quarterly payout with at least 50% render BP one of the highest yield stock.

Next Q result will be much more higher as it take into account both booster, 30% higher CO price + 30% higher CPO production volune, all these are PURE net profit to bottomline.

Recurring Quarterly dividend with special dividend if disposal of it sarawak estate materilize

Oil refining profit margin is expanding, uptread now

Oil crack spread > USD 9

Please check polymer-naphtha spread now.... It have slump since June to below cost for ethylene and propylene, the two major polymer product of lctitan. Lctitan only able. To record profit in April and May, but will record loss from June onward. CAUTION

Go go go

Momentum will coming back for maybulk.

Finally, breakout 50sen, on recovery path.

Slow and steady on recovery path

Bought all Prestar at 1.10 - 1.12

Maybulk operation no subject to MCO limitation, vessel demand International driven, best proxy for boom in steel and iron exposure.

Sold back harta at 7.55-7.57

On stocks selection, a successful breakout above downtrend line hurdle at RM4.13 will lift TOPGLOV (HLIB Research-BUY-TP RM6.66) share price higher towards the next barriers at RM4.26-4.58 levels (Supports: RM3.64-3.85), underpinned by bottoming up technicals. Likewise, the strong reclaim above 10d & 20d SMAs could spur SUPERMX (RM3.50, Notrated) share prices higher towards the next hurdles at RM3.65-3.95 levels. Strong supports are seen at RM3.20-3.33 zones

On stocks selection, a successful breakout above downtrend line hurdle at RM4.13 will lift TOPGLOV (HLIB Research-BUY-TP RM6.66) share price higher towards the next barriers at RM4.26-4.58 levels (Supports: RM3.64-3.85), underpinned by bottoming up technicals. Likewise, the strong reclaim above 10d & 20d SMAs could spur SUPERMX (RM3.50, Notrated) share prices higher towards the next hurdles at RM3.65-3.95 levels. Strong supports are seen at RM3.20-3.33 zones

On stocks selection, a successful breakout above downtrend line hurdle at RM4.13 will lift TOPGLOV (HLIB Research-BUY-TP RM6.66) share price higher towards the next barriers at RM4.26-4.58 levels (Supports: RM3.64-3.85), underpinned by bottoming up technicals. Likewise, the strong reclaim above 10d & 20d SMAs could spur SUPERMX (RM3.50, Notrated) share prices higher towards the next hurdles at RM3.65-3.95 levels. Strong supports are seen at RM3.20-3.33 zones

GENEVA: The World Health Organization's emergency committee warned Thursday that new concerning variants of Covid-19 were expected to spread around the world, potentially making it even harder to halt the pandemic.

"The pandemic is nowhere near finished," the committee warned in a statement following a meeting Wednesday on the pandemic situation.

Committee chairman Didier Houssin acknowledged to reporters that "recent trends are worrying."

He said a year-and-a half after the WHO first declared a so-called Public Health Emergency of International Concern (PHEIC) – its highest alert level – "we are still running after this virus and the virus is still running after us."

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For now, four concerning variants of Covid-19 are dominating the global pandemic picture, Alpha, Beta, Gamma and especially the rapidly-spreading Delta variant first detected in India.

But the committee warned that worse could lie ahead, pointing to "the strong likelihood for the emergence and global spread of new and possibly more dangerous variants of concern that may be even more challenging to control."

WHO declares variants as being "of concern" when they are seen as either more transmissible, more deadly or have the potential to get past some vaccine protections.--AFP