Price slowly recover compared to morning session

luckyG ur statement make us more confidence let us see how tml. the result going to announce

all panic sales just now...

slowly recover back... this morning 1.24, scary... dunno want cut loss or not.. end up tahan, can still hold tight

anybody know when the result will out?

But the warrant almost finish convert, only balance 1m units.

my average price at 1.40, also quite high

what is the support line? keep on dropping..

general t..
this blog already active ma.. I lazy to pop up everyday.
now quarter result coming.. I pop up again.

This quarter will be good I think. William is buying.

newpapers also said serious flood in penang, but you said no..

Must pull back only can move more higher.
休息是为了走更远的路

Flood in Penang affect to this company?

Today drop back.. Haha. Anyone sold?

Toilet paper

What happen to this stock? Still can keep. Making loss now

buy off market, sell open market... easy money....need to ask until they pengsan

need to ask during AGM why right hand buy left hand sold... they allow ACME to do that... all this need to ask...

Have u all received dividend already？

He just bought....

Shareholder throw again? We became water fish bought at high price. SC should take action.

Acme sky doing what

Just bought the share... Now dispose it.

waiting next Q result and see.

Wait for nx q result

Is wake up today

Jayc 80% revenue is f&b

Total issue 61m less total converted 36m, So balance for warrant only left 25m.

Internal info.. How to know got deal

need to wait so long.. not end of this year??

CEPAT (8982) - 沙巴州的小型种植公司



CEPAT是一家经营棕油生意的公司，本身三大业务或多或少都和棕油有关：

1. 油棕种植业 - CEPAT在沙巴州拥有10800公顷的种植地(1公顷=2.47英亩或10000平方米)，已种植面积超过总地皮的80%，主要种植品为棕油、棕仁及鲜果串。种植业是CEPAT的上游业务，会贩卖原棕油给自家的炼油厂或其他的客户。从季报中可以找到internal sales和external sales的相关资讯，最新的2017财政年第二季度季报就有显示鲜果串的产量增加了21%。

摘至2016年年报的种植业务资料：





1. 棕油炼油厂 - 公司7设有自家的炼油厂，其产量平均为每小时90公吨。这家炼油厂只做自家生意，所以收成的好坏也会影响炼油厂的产量。值得一提的是在2017财政年第二季度的季报中提及炼油厂业务转亏为盈，主要原因是赚幅提升。

2. 再生能源发电 - CEPAT在山打根建造了一座再生能源发电厂，并和沙巴州的电力公司签署了一份长达16年的合约。合约从2015年开始生效，目前只履行了两年半的合约，季报中数据显示所贩卖的电量有在增加中的迹象。

2017财政年YTD的营业额与盈利份额：



种植股估值

种植面积 - CEPAT目前已种植面积为80%，有22%的种植还未迎来收成期和老树龄的棕油树也占了36%。在一加一减的情况下未来产量并不会出现太大的增加，在未来要大量增加营业额还需要靠棕油价格上涨。

种植地价值 - 以目前CEPAT差不多300mil的市值计算(假设为买种植公司=买地的思想)，1公顷的地皮大约值28000令吉。笔者认为由于大部分是99年leasehold land应该不会有太大的发展价值，这个土地价值应该是合理价位。

现金流 - CEPAT 2017财政年至今的经营性现金流高达19mil是非常不错的，目前的现金存量外加短期投资也也有27mil。同时一个季度的finance cost只有1.5mil左右和目前的trade payable为26mil，证明公司还有足够的现金周转。并没有造成空有一堆有形资产但无钱可用的状况。

投资机会

收购或合拼的机会 - 小型的种植公司，是非常有可能被大型种植公司看中而收购的，就像几年前至前一阵子的IOI与DUTALAND的状况。CEPAT本身还有再生能源业务，况且市值非常小看起来也挺诱人。

财务稳定 - 目前可以说是种植股的平淡期，种植公司都没有多余的资金去扩展种植地或大量种植，因为在收成前的几年这些发展都是净支出。所幸CEPAT已种植面积占大部分并不需要投入过多的资金，还能保持财务上的稳定和派息率。

再生能源生意稳定 - CEPAT手上已经签署了一份长达16年的合约，代表这16年来都将会有生意。这无疑是很好的现金流保障，尤其在棕油价格上下波动的时期这项业务还能为公司带来盈利方面的稳定性。

Hoho

I feel will further press down. I hope the support is at 1.30. don’t down anymore.

more and more people will convert..... their strategic...

convert to mother just 1.25

Warrant in discount price…. Cheap sales……

People keep on throw the warrant maybe due to no money to convert. This force mother needs to follow son trend. But anyhow, should be a bottom line there, just wait and see how much the support level is. Price continue fall down few days already. But with good fundamental plus normalize PE should around 13 – 15. Johotin remain a bright future. Just pity for those stuck at high price.

press down again....

u cant wait may take profit first. maybe will drop back for correction. all good news and bullet is use up

The key saving is here. U never mention.

The blast furnace produce so call finished goods is call hot metal. Hot metal is in liquit form, and will send to EAF mix with scrap to further process to become billet. The key here from this process, AnnJoo can save graphite electrode consumption, at the same time minimize the power consumption and increase the output of billet.

so many new face.... I already forget about this stock .... now target at other area. this one keep until 2018 only come back.. cheers...... since already green green in book... duwan to care it anymore.. jerit jerit here also no use.. keep it for long term sure will reward us.

Hold tight

Sini sini

if continue press down also not good.

Yeah

further drop

Waiting tml to see how it move. Last Friday many collect at 1.62

Enjoy.....

LuckyG good luck for u. Let us earn together. I just new for this counter. But I believe such a low PE with consumer good. Sure will up in future

Yes... Further press down after q2. I believed it will reward us in future. Buy when ppl throw