Harta FY2021 dividend was

3.85 +9.65+17.7+19.75= 50.95 s
Dividend Yield = 50.95 / 578 0= 8.8 %

Harta will.announced a 39.6 s dividend soon based on 60 % payout of last.qtr profit of 2.26 billions.

https://www.theedgemarkets.com/article/supermax-declares-share-dividend-amid-forced-labour-issue

Last Oct , supermx also distributed Treasury shares at 1 to 45 ratio. Supermx announced record profits after that. Your theory does not hold water.

----------------------
IronShirt Distribute treasury shares as dividend ( conserved cash and stop further price decline )
Usually indicate coming Qr. had suffered reduced Profit....any 1+1=2....long term holder may
think it is still Okay

IM777, Sentiment ? Have you ever wonder why market.still give 60 % above pre pandemic market price for topglove despite the ban by CBP .Likewise , why market still.give 3x market price for supermx than prepandemic price despite the recent ban by cbp also ? Harta and kossan were not banned but why the market already punished them.to prepandemic prices ?Since you are sifu for sentiment , can help to enlighten ?
------------------
investmalaysia7777 You also know how to say la. sentiment ma lol. no need to worry about harta. supermax got more room to drop
28/10/2021 3:50 PM

Since the value of dividend is given based on 190 , we just take 6.3/190 as dividend yield for one qtr. This will give us 3.3 % per qtr or 13.2.% per year which is still not bad. Supermx will.spend about 540 millions to do sbb after.the AGM. With.lower prices , the same amount of money can.buy more.shares.

-----------------
Ryan83 Dividend yield inaccurate to calculate by current price 1.90 very misleading since Supermax price drops from 6.80 (1st interim dividend) to 1.90 (final dividend)....I expect share price continues downtrend tomorrow
28/10/2021 10:10 PM

MM , dont be double standard talk nonsense. When you give a.value of 6.3 sen for the final dividend based on.1.90 , of course you have to divide by 1.90 to get the dividend yield. If you want to divide by 7 ringgit , then the value of dividend cannot be 6.3 sen. It.should be 0.033 x 700 or 23.1 sen. You are another maths failure.
--------------
MoneyMakers Aiyaa pjseow enough nonsense with ur div yield..need to hodl since rm7 to get full div 38sen

U calculate yield based on current price rm1.9 for what..anyone buying current price rm1.9 never receive any div - yield 0
28/10/2021 9:40 PM

GO, dont deviate and talk nonsense. Lets spar with me on dividend yield since you are the one who ask me lai lai lai. Now you want to run with your tails behind your legs ?

CWC, Now you are teminding me that not only their maths are deplorable, their.English also deplorable. They.dont understand the word final dividend ?

---------------
cwc1981 Pjseow I think lots of people thought this share dividend is for 1st Quarter ending. Is actually is the last dividend payout for financial year end 30th June 2021

GO , I have already taught you how to calculate DY for supetmx. Now.what is DY for Hartalega in FY 2021 ?

GO , I know you.are not able to do this simple.maths test. Let me tell you the answer.
Supermx total dividend for Fy 2021.
is 3.8 s +13 s + 15 s + 0.033x1.90 = 38.13s
Dividend yield = 38.13 / 190 = 20.1 %

Tell me which stock can give this DY in FY 2021.

GO, just a simple maths test for you. What is the Dividend yield or DY.for supermx for FY 2021 ?
--------------------------
GlovesOff lai lai lai explain see how you beautify this

want lower your 1.3x bet not
*************************
pjseow From the few comments above, the standards of maths in.malaysia is really deplorable especially GO

From the few comments above, the standards of maths in.malaysia is really deplorable especially GO.

IM , now I try to follow shorty tune to see whether their logics hold water. I am surprised Harta with no cbp.ban and already below prepandemic price still dropping more than supermx. It had already dropped 60s from 6.25 before the ban.
-------++++++++------
investmalaysia7777 Pjseow, now you no more posting articles. Instead now you focus on other's comments and attack? hahahah what a loser
28/10/2021 3:04 PM

IM, why your harta keep dropping even.it is already below prepandemic price.

Ya , MM dare not go to TG forum and say TG prepandemic price was 1.50. Use words like massacre and bloodbath.
-----------------------
Start_0f_the_bull Most of these naysayers dare not go to TG forum. Ular there will takle them kaw kaw. LOL
28/10/2021 9:48 AM

GO , haha , Essay about burial plots in TG forum? Not my cup of tea lah. I only enjoy your amusing fights with ular .
-------------------
GlovesOff Yaaa any problem? Come, bring your essays over to tg ...
**********
Over there in topglove, you fight over burial.plots?
28/10/2021 2:36 AM

GloveOff, I just browsed through topglove forum. Wow. You.and Ular fighting over burial.plots in.Nirvana. Ular offered 74 % discount to you.
Here we bet professionally with fair numbers. Over there in topglove, you fight over burial.plots?

MM , What about your 65 s which you have been.singing day and.night ? Now with CBP ban should be able to reach faster mah. I.am still waiting.

GO , What Cry baby.? As I.said.earlier ( check my message on Oct 13th ), I will be happy whether you win or I win. I repeat this today . I will be happy even if you win.
------------------------+++++--------
GlovesOff Dont be a crybaby . 60% to go to penthse 3 .

Add oil lo ticktock2

GO, OK. the bet is ON. There is a scenario the price mayvnot hit either 1.32 or 3. It is then.a draw. Pls take note. Although.our bet earlier was without the CBP ban . You have the advantage now with the ban but never mind , I am happy to give you this advantage which.shifted 24 s to your advantage from the earlier 2.16 when we.betted.

MM , I did not hear you sing the 65.sen.tune nowadays. I miss it lah.

GO , A bet is a bet. It is still.on. Just a reminder in.case you forget . The bet is if supermx price touches 1.32 within 6 months you win. If it touches rm 3 within 6 months I win. I agree with you that if you win, I will not write any comments in supermx forum. If I win , you also. must disappear from.supermx forum. If the price do not hit both my and your prices within.6 months. It is a draw. Agree ?


-------------------
GlovesOff Pjseow sudah irrelevant dah ...

Our bet remains ? Loser hibernate here permanently ok?
27/10/2021 5:55 PM

The numerous NIKE forced.labour.issues . Had.the US CPD banned Nike shoes in.US ? The.hypocrisy and double standards are so glaringly obvious.
---------------------
https://storymaps.arcgis.com/stories/cc439ea2c6d34dcfb2f35da2ed6ab1e4

The NIKE Story on Child Labour and numerous labour issues .
-----++++------+-++++++++
https://storymaps.arcgis.com/stories/cc439ea2c6d34dcfb2f35da2ed6ab1e4

IM , dont worry, I m.not blaming you for recommending harta many times . I take my own responsibility in buying and sellings. I know you like harta very much even.when.we are at topglove forum. You prefer Harta than supermx and topglove. The fact is that all.gloves fell 75 to 85 % from the peak in OCT 2020 to current levels.

--------------------
investmalaysia7777 Not only me la. most of the people also recommend harta instead of supermax. supermax is overvalued even at this price.
27/10/2021 5:21 PM

MM , Why you sing different tunes now. When.can I get your 65 s supermx ?

------------
MoneyMakers Glovers dont fight..All gloves fall together..no use picking 1 over another..no use transfer from supermx to kossan/harta

Only consolation for harta/kossan glovers is will fall less..but both also wont go up
27/10/2021 5:46 PM

You forgot already.ah. I also bought Harta upon recommendation by you mah. I. also worry about Harta mah.
---------------------
investmalaysia7777 Supermax is the one kena banned. Not harta. Harta got ESG AA rating. Better worry for your supermax.
27/10/2021 4:15 PM

Then Why Harta drop 30 sen yesterday and another 10 sen today ?
------------+++++---------
investmalaysia7777 US crackdown so what??? supermax can export to US??? Harta will be the beneficiary
27/10/2021 4:04 PM

MM , Do you mean I cant get at 65 sen anymore ?
---------------------
MoneyMakers The longer price consolidate at this boring range, the harder nxt drop
27/10/2021 3:25 PM

US started cracking down dirty and filty recycled gloves.
---------------------
https://www.bangkokpost.com/opinion/opinion/2204683/take-gloves-off-on-fraud

Aiya, All those surplus durians can be used to make durian cakes or tempoyak . This is common knowledge lah.
Tempoyak or fermented durians are like fermented milk which is actually yogurt . Fermented Taufu is Tau Joo which is a delicacy. Fermented grapes turn into wine ....
There is no such thing as basi durians , basi grapes, basi taufu or basi milk. Semua boleh dijual .
-------------------
GlovesOff Musangking basi d can make cake . Gloves reject do what ? Massage ????? HandJ*B ???? Hahaha
27/10/2021 11:42 AM

Good analogy, If I have 100 acres of Musangking durian plantation, I wont sell the plantation even when the price of musangking has drop because I know more and more peoples in China know how to enjoy musangking. The demand will grow over the years and the price will also grow in tandem with demand and inflations in the next few years . Those who has the patience will enjoy the rewards but there are always peoples who are jealous . They will try to destroy whatever you have built just like the syndicate in Pahang who tried to destroy the efforts of Raub durian king farmers by chopping down their trees.
------------------------------
GLOVE is just like Musangking durian.
Early phase of the harvest, price is high as supply is limited.
At peak harvest period,price start to come down as supply increase.
End stage, supply keep going up, but demand subside. Price at throw away prices, especially non branded.
Buyer(panic buying) no more around. No more advanced booking, no more fat fat margin...
27/10/2021 11:05 AM

GO and MM , As I mentioned many times , we listened to the IBs which gave high Tgt pricrs in May and no one predicted CBP will.ban supermx. Only both of you had the insider informations. Both of you did not tell us you and shorties are part of the.whole scams. Value investing will not apply when a company is banned for shipments. Even Supermx management do not know what is the financial impact of this ban.
------------------------
GlovesOff haha another stuckie in pjseow MLM group

really value investing lorrr
***************
Jun 5, 2021 1:08 PM | Report Abuse

Please have some manners Brian.
At least PJ Seow gives solid data and facts to support his argument ( as does Ben Tan ).

CNN warned.US customs in FEb 2021 about filty recycled gloves exported from Thailand into US but CBP. slept on it. This could be tip of the iceberg.
---------------------
https://www.nationthailand.com/in-focus/40007948

GO ah, You need to be consistent lah. In end may, we did not sell because all IB s said buy mah with average tgt prices of 7. On.30th May, supermx price was about 4 only. How to listen to you to sell at 4 when All IB said buy.? We learnt.our mistake by listening to IB s but now you keep.showing IB latest tgt prices. Why ? Are you asking us to listen to IBs again?

---------------------++++----------
GlovesOff Now at 1xx only believe???

HAHA
***********
OK lah. Now we know we cannot trust the IBs tgt prices anymore
25/10/2021 6:18 PM

GO, In May , No IBs.made sell.call leh. All IBs still made buy calls with average tgt prices of rm 7 . At that time we did not know you are.much.better than the IB s in risk assessment. You also did not sell yourself with your CV and your reasonings. How to.listen to you ? It is not our ego lah. We trusted the IBs more than you because they got licenses and they showed us theur numbers whereas you and MM just said sell .
OK lah. Now we know we cannot trust the IBs tgt prices anymore . Once bitten twice shy.
Now half made sell.calls and half say hold. Which one to listen?



-----------+++++-----------
GlovesOff like i said at least sell some/most in may ... cbp didn't catch you offguard

your ego is your downfall isk isk isk

-------------+++++-----------
Stock: [SUPERMX]: SUPERMAX CORP BHD

May 30, 2021 1:11 PM | Report Abuse

After supermx last QR , All IBs give " BUY" calls with the following tgt prices .

1. Nomura RM 8.39
2. BIMB RM 7.30
3. Kenanga RM 6.80
4. AffinHwang RM 7.40
5. RHB RM 6.60
6. TA RM 6.07

Average RM 7.09

GO , ok lah , we.failed in our risk.assessment. We should ask ourselves what is the chance of occurrence ( 10 to 20 %) and if it occurred , what is the severity ( 8). If we multifly this 2 factors, the Risk Factor is quite high. Should have sold then. Good lesson learned. We will.take note not to make similar wrong judgement again. I dont remember you ask us to sell.some leh. .
-----------+++++-----------
GlovesOff like i said at least sell some/most in may ... cbp didn't catch you offguard

your ego is your downfall isk isk isk

*****************************
This is when you should sell (May 29) and not cry like a baby now boohooo

MM, I havent got my 65 s leh. When?
--------------------------------
MoneyMakers Ding3 new low unlocked..Donkey89 got his 2.01..Maridien got his 1.99..sure happy with their fake topup

So whats nxt price that glovers think cannot achieve want fake queue sapu everything
25/10/2021 2:21 PM

US CBP do not ban recycled gloves from Thailand but.banned good gloves certified from Malaysia big glove companies. I really miss Lim Keng Yaik and Rafidah who used to be ministers of Primary Industry . They will gasak US government kao kao if there is hypocrisy and double standard on the part of US government.
--------------------------
https://nymag.com/intelligencer/2021/10/millions-of-used-medical-gloves-imported-to-u-s-report.html

Do you mean gloves made in.Malaysia are subjected to CBP.ban but not shoes made in.Bangladesh, Myammar, Thailand Indonesia or Vietnam ? So your Kossan may be next CBP.target because Kossan gloves also.made in.Malaysia ?

---------------------
Keyman188 Aiyo...Nike buat dari mana!!!...

Glove buat dari mana!!!...

so simple perception pun tak faham kee!!!...


wkwkwk...kekeke...hehehe

Both Harta and Supermx replied in end.May that they complied with ESG.requirements.
-------------------------
https://klse.i3investor.com/blogs/savemalaysia/2021-05-31-story-h1565982876-Malaysian_glove_makers_pledge_full_compliance_to_ESG_practice.jsp

Nike had much worst forced labour issue . Have you ever heard Nike shoes.were banned in.US ?


https://www.newidea.com.au/nike-sweatshops-the-truth-about-the-nike-factory-scandal

Although US government hypocritically advocates rule of laws, human rights and innocence until proven guilty, in actual facts they did the reverse. In the name of national security or forced labour , they will accuse you that you are guilty without having to prove it. It is up to the accused or victim to prove themselves innocence . The Bans by CBP is a classic examples . The CBP will ban and detain your goods without giving any proofs. The company or victim has to find out from CBP what are the accusations and CBP.do not need to prove whether the accussations are true or not.
It just take one person like Andy Hall to bad mouth your company., you had it. The victim has to prove innocence by hiring auditors and show proof that they are innocence.
Another example was the detention of Meng Wan.Zhou. It just take HSBC to give a wrong.information , Meng was detained for 1028 days. She need to hire a few lawyers and spent tens of millions to prove her innocence. She was finally released only with pressure from rhe Chinese government.
The recent bans by CBP on.topglove , supermx , FGV and others are political .
The Banning of Xinjiang cottons in the name of forced labour was also political. Fortunately ,the patriotic Chinese citizens retaliated and gave a hard time to.US companies by boycotting their goods. Unfortunately , many M alaysians behave otherwise and seems to be.happy with CBP.actions. because of their selfish gains which they intend to make.
Shame on these peoples.

bang miskin . Agreed with you . Very logical argument.

The small player like mercator with only 3 to 4 billions capacity will not survive with the ASP coming down to normalised state. Those new comers which havent even.started production will also vanish . They just cant compete when they need to borrow to put up the capacity, do not have the economy of scale., steep.learning curve and and has yet to build up customer relationship. All these factors are detrimental to their survivals.

As long as I can get a dividend yield of between 12 to 18 % , I do not worry about how the stock.price perform. I will.keep buying using my dividend money if shorties keep selling at great discounts. The higher the discounts the better my DY. Based on.my calculations, Supermx is capable of paying.such.high.DY . At the same time, keep growing its capacity.to generate.more future earnings. Supermx has the cash to do both simultaneously. CASH IS KING.

kbtsy168 , I do not think the ASP for Oct will be at USD 40 because there are still balance of old orders with.much.higher ASP from previous contracts which need to be fulfilled first. In my opinion, the ASP will be around 48 .
As for ASP assumption of US 40, we can take PAT of the Q4 of FY2020 ( April to June 2020 ) qtr as a guide since this qtr has exactly an.ASP of 40. The capacity then was 24 b pa. I think the capacity of this Oct.qtr will be between 26.2 to 30 billion. You can multiply the 400 million PAT with 1.15. This will give you about 460 million.

----------------
kbtsyl68 @pjseow
May i ask your opinion what is the net profit per month for supermax from October 2021 onwards if the average selling price is USD 40/1000 pcs.
16/10/2021 8:27 PM

GO , It is normal for investors to wish that their investment can grow its earning and capacity ,pay good dividend and remain cash rich . My analysis show that supermx can accomplish all these attributes with the huge cash in.hand without having to borrow a single sen.
------------------------------------
Summary

The above is a summary of how the huge cash pile can be allocated to expand capacity ,pay dividend and keep it in cash in hand for future use.
Supermx is capable of keep expanding capacity with a rate of adding between 12 to 15 % in tandem with the growth of gloves usage in the world . At the same time pay a dividend of about 25 sen per year and still keep a cash in hand of about 1.5 b .
The average dividend yield for the next 6 years will be about 15 % at current price of 2.20 . At a stabilised ASP of US26 to 27 per thousand and a margin of 17 to 18 % , supermx can still generate about a billion PAT per year .
The EPS for PAT of a billion is 36 sen . If you assign a PE of 10 , it is worth 3.60 , A PE of 12 will give 4.32 and a PE of 15 will 5.40 .

Supermx is no more the old prepandemic supermx .
It has and will continue to be transformed into

1. A strong earning growth company from 124 millions in FY 2019 to a
billion PAT company
2. A strong nett cash company with about 1.5 billion cash in hand

3. A high Dividend Yield company with about 15 % DY at current price

4. A high capacity growth company growing to 2, 3 to 4 times the prepandemic capacity of 22 b per year within 4 to 8 years .

You are welcomed to adjust whatever assumptions as you wish . It is a balancing act and make your own judgement

With the huge cash piles of 3.78 billions in the coffer plus the coming estimated 1.73 billions earnings for FY 2022 ,supermx is able to fund future capacity expansions further and pay lucrative dividends and still maintain a high cash in hand in subsequent years .

Supermx will be transformed in terms of growth in capacity and earning , paying good dividend and maintain a strong nett cash company from its pre pandemic nett debt ,slow growth and much less aggressive capacity expansion company .
Below are how the huge cash piles and future earnings can be allocated .
My wish list .


FY2022

Balance cash end June 2021 3780 m
Add PAT in FY 2022 1730 m
Minus prepayment or deposits 631 m
Minus part payment for cap add 455 m
Minus 60 s dividend for 4 qtrs 1632 m

Balance cash in hand 2792 m

FY 2023 ( assuming normalised ASP of 26 )

Add consensus PAT in FY 2023 880 m
Minus balance cap add to 48 b 500 m
Minus 40 s dividend 1088 m

Balance cash in hand 2084 m


FY 2024 ( assuming ASP of 26 )

Add PAT (48x26x0.85x4.15x0.2) 880 m
Minus 25 sen dividend 680 m
Minus 6 b cap add ( 6 x62 m) 372 m

Balance cash in hand 1912 m


FY 2025 ( assuming ASP of 26)

Add PAT ( 54x26x0.85x4.15x0.18) 891 m
Minus 25 sen dividend 680 m
Minus 7 b cap add ( 7 x 62) 434 m

Balance cash in hand 1689 m


FY 2026 ( assume ASP of 27 )

Add PAT (61x27x0.85x4.15x0.17) 987 m
Minus 25 sen dividend 680 m
Minus 8 b cap add ( 8 x 62 m ) 496 m

Balance cash in hand 1500 m


FY 2027 ( assume ASP of 28 )

Add PAT ( 69x28x0.85x4.15x0.17) 1158 m
minus 25 sen dividend 680 m
minus 9 b cap add ( 9 x 62 m) 558 m

Balance cash in Hand 1420 m

Summary

The above is a summary of how the huge cash pile can be allocated to expand capacity ,pay dividend and keep it in cash in hand for future use.
Supermx is capable of keep expanding capacity with a rate of adding between 12 to 15 % in tandem with the growth of gloves usage in the world . At the same time pay a dividend of about 25 sen per year and still keep a cash in hand of about 1.5 b .
The average dividend yield for the next 6 years will be about 15 % at current price of 2.20 . At a stabilised ASP of US26 to 27 per thousand and a margin of 17 to 18 % , supermx can still generate about a billion PAT per year .
The EPS for PAT of a billion is 36 sen . If you assign a PE of 10 , it is worth 3.60 , A PE of 12 will give 4.32 and a PE of 15 will 5.40 .

Supermx is no more the old prepandemic supermx .
It has and will continue to be transformed into

1. A strong earning growth company from 124 millions in FY 2019 to a
billion PAT company
2. A strong nett cash company with about 1.5 billion cash in hand

3. A high Dividend Yield company with about 15 % DY at current price

4. A high capacity growth company growing to 2, 3 to 4 times the prepandemic capacity of 22 b per year within 4 to 8 years .

You are welcomed to adjust whatever assumptions as you wish . It is a balancing act and make your own judgement .

Disclaimer : It is not a buy or sell call. It is for sharing . My intention is to show that supermx has enough money for aggressive capacity expanding , pay lucrative dividends and still keep a strong nett cash for the next 6 years or more .

Harta has very aggressive long term capacity.ecpansion.plan from.current 43 b capacity to 95 billion in 2027.
So far Supermx has committed to increase its capacity to 48 b by 2023 . A simple calculation show that supermx can also increase its capacity to 88 b in 2027 in tandem.with the yearly growth rate of 12 to 15 % durimg post pandemic without borrowing . Even with such expansions and supermx is still.able to pay lucrative dividend every.year.and maintain a nett cash positions throughout the years.

-------------------------
https://www.reuters.com/article/health-coronavirus-malaysia-hartalega-idUSL1N2L80E0