Posted by air01557 > 2014-02-24 11:19 | Report Abuse

if it can break 63 then next TP is 71 sen - quite safe to enter now

Posted by air01557 > 2014-02-24 15:43 | Report Abuse

a special div. is in the works - buy now (not for contra)

Posted by nagachan > 2014-02-24 17:39 | Report Abuse

To safe the company from corporate predators eying the cash pile, one way is to push up the price.

Posted by air01557 > 2014-02-24 20:11 | Report Abuse

tomorrow can break 63 sen - then we will see the vol building up again

Posted by Madam YaSer > 2014-02-24 22:23 | Report Abuse

hehehe

Posted by quahsb > 2014-02-24 22:25 | Report Abuse

Collect back if got weakness or breakout of 0.65

Posted by valuemaster > 2014-02-25 11:11 | Report Abuse

Kenanga came out with a report, TP 0.82

Disposal of Pulau Indah land worth RM317m to totally clean up balance sheet. On
20th February, Tadmax entered into an agreement with Ivory Merge to dispose off Tadmax
Power Sdn Bhd, a wholly-owned subsidiary of Tadmax, which owned 310 acres of land in
Pulau Indah. The land disposal’s price tag is RM317m in which Tadmax will pocket a net
gain of about RM138.4m (or 37sen/share). More importantly, the Group will utilise about
71% of total proceeds to settle the Group’s entire debts of about RM226.2m. The Group
will also place RM50m into cash reserves with Tadmax ending up in a net cash position of
about 8.9 sen/share after the disposal. We estimate its net asset/share to improve
significantly to 92 sen from 56 sen.

Earnings will improve significantly after the disposal of Pulau Indah land. Postdisposal,
Tadmax will enjoy about RM12m interest expense savings every year. This will
improve the Group’s earnings significantly. We estimate if the disposal can be concluded
by this year, the Group’s earnings will improve significantly to RM22.0m in 2015.

More disposals in store? We understand that Tadmax owns another 60 acres of land in
Pulau Indah. Management mentioned that this land has been disposed to Inai Kiara Sdn
Bhd vide sale and purchase agreement dated 9 April 2013 and completion is presently
pending fulfillment of conditions precedent. That will bring additional RM40m cash to
Tadmax’s book. Secondly, Tadmax is currently in talks with several parties, including Felda
Global Ventures (FGV) to dispose its 80k ha plantation landbank in Papua, Indonesia.
From a quick check in the 2012 annual report, the land’s net book value is at RM67.0m,
timber concession at RM218m and goodwill of RM66.8m set-off by deferred tax of
RM71.3m and minority interest of RM28.8m which will arrive at a net carrying amount of
RM251.7m. Hence, if the Group manages to sell the land at USD100m (appx: RM320m),
the Group will pocket about RM68.3m net gain. This amount will be much higher if the sale
of the 80k ha land excludes the timber concession.

Turnaround in the making and targeting more than RM1.0b revenue in the next 3
years? We have witnessed that Tadmax has undertaken several corporate exercises (i.e.
par value reduction & land disposals) to pave the way for the Group to restructure and turn
around Tadmax after the “Wijaya Baru-PKFZ scandal”. Management mentioned to us that
they aspire to make Tadmax a billion-dollar revenue company in the next three years. It
might be a tall order since we have only seen the Group reporting less than RM10m
revenue for the past two years. Nonetheless, management is confident that this target is
achievable via (i) acquiring strategic assets, including local plantation companies or
landbanks, (ii) landbanking for property development, and (iii) expanding its construction
business by bidding for RM400m – RM1.0b contracts every year which, in fact, the
management is confident of securing at least RM400m building-related job this year.

Reward to shareholders soon? The management also mentioned that they intend to
reward shareholders by paying dividends whenever the Company has “extra cash”. We do
not rule out potential dividend payments to shareholders once the definitive agreements of
sale for the 80k ha plantation land in Irian Jaya, Indonesia are inked.

Tadmax should be fairly valued at RM0.82 based on 30% discount to RNAV. We think
the best valuation method for this asset-rich company is asset-based valuation. Currently,
Tadmax’s net asset is at 56 sen. Post-disposal of the 310 acres Pulau Indah land, the
Group’s net asset will increase to 92 sen. If Tadmax manages to conclude the deal for the
Indonesia land bank, we estimate its net asset will further increase to RM1.17. Using that
as our valuation basis and imputing a 30% discount (based on average price-to-book value
for the past three years), the stock is fairly valued at RM0.82.

Posted by SANG-JERO > 2014-02-25 14:37 | Report Abuse

Bullish for short term...midium term & long term........No contra....

Posted by quahsb > 2014-02-25 16:08 | Report Abuse

well supported at 0.56-0.57

Posted by Superman88 > 2014-02-25 17:48 | Report Abuse

good support. buy in dip

Posted by SANG-JERO > 2014-02-25 18:03 | Report Abuse

i agree with Kenanga's analysis...

On the current date Tadmax resources Position is Long - Buy based on Medium Term analysis and is Long - Strong Buy based on Long Term. Asset "Volatility Risk" is Medium and "Liquidity Risk" is Medium. In the Medium Term, Bullish phase is advancing, a short term positive price move is expected. In the Long Term, Bullish phase is advancing, a short term positive price move is expected.

Posted by spider99 > 2014-02-25 19:26 | Report Abuse

Pua: 1MDB must explain RM317 million land purchase
Published on 25 February 2014 13:53
DAP Publicity Chief Tony Pua today demanded the 1Malaysia Development Berhad (1MDB) to answer questions over the purchase of 310 acres of land in Pulau Indah for RM317 million. He wants to know if the purchase was an effort to bailout the company that owned the land.

Posted by nagachan > 2014-02-25 20:57 | Report Abuse

Willing buyer willing seller. Nothing DAP could do as it is purely business transaction even if it may seen as bailing out UMNO cronies

Posted by quahsb > 2014-02-25 21:46 | Report Abuse

A loss making company to turn cash rich and needs to push up its price to protect from being raided

Posted by SANG-JERO > 2014-02-25 22:02 | Report Abuse

Set to fly.....Company is now debt free...cash rich.....who cares about DAP.....this is purely business....Tadmax share price might hit RM1.0.....Someone push the price lower and accumulate...interesting....

IMDB is buying the land for future investment.......nothing can go wrong if anyone invest in property......average price is RM1.0 million per acre or RM23.00 per sq ft.....future price will be definitely more than the current price.........IMDB will make tons of money in the future......

Posted by 1Superman > 2014-02-25 22:06 | Report Abuse

Samg jero, can u explajn y there is drop after suspended since there is good news of land disposal

Posted by SANG-JERO > 2014-02-25 22:14 | Report Abuse

1 Superman...it could be to overall market sentiment today...but well absorbed....Base on TA...short-mid term price should around 0.71-0.82..the chart looks bullish for now....this NOT a BUY/SELL call....

Posted by quahsb > 2014-02-26 07:46 | Report Abuse

After suspension, it is sell on news for contra , short term players. Thus need to absorb the selling pressure of t+3 , looking at things it is good to accumulate on dips and not to chase.

Posted by ronaldo96 > 2014-02-26 09:08 | Report Abuse

today opening red..seem impact by DAP?

Posted by quahsb > 2014-02-26 09:37 | Report Abuse

Overall market is red, get it when it is in dip not when it is hovering 0.60

Posted by SANG-JERO > 2014-02-26 10:34 | Report Abuse

let's see what happen after T+4 or within a week.....Can see BUY signal now....

Posted by calow1 > 2014-02-26 12:38 | Report Abuse

There is further announcements to come... Can buy

Posted by tssl74 > 2014-02-26 16:09 | Report Abuse

calow1, when is the next announcement?

Posted by edwynkim > 2014-02-26 17:02 | Report Abuse

Latest news?
https://www.facebook.com/MalaysiaKini/posts/10152229471479618?stream_ref=10
Lol

Posted by calow1 > 2014-02-26 20:14 | Report Abuse

aiya, is rumors wo.. so i only hear news coming.. so, there is a next "goreng" point to come.. maybe u see the chart, u can identify the point to enter again...

Posted by air01557 > 2014-02-27 15:03 | Report Abuse

Buying was with huge vol but selling last 3 days involves small vol. I guess it is ripe for a rebound !!

Posted by calow1 > 2014-02-27 16:08 | Report Abuse

Hopefully soon. Entered at rm0.55. Cis. Should hv waited bit more.

Posted by SANG-JERO > 2014-02-27 16:28 | Report Abuse

the current price looks very very tempting.....

Posted by buffet > 2014-02-27 16:59 | Report Abuse

Will drop further

Posted by saufi74 > 2014-02-27 17:08 | Report Abuse

Collect some @ 0.535..see how the games go..

Posted by air01557 > 2014-02-27 17:38 | Report Abuse

T4 selling is over, tomorrow the games will begin !!

Posted by Tiong Yong Soon > 2014-02-27 20:17 | Report Abuse

average down @ 53....better rebound, if not ....!@@#$%%^&%%$**&^

Posted by air01557 > 2014-02-28 09:10 | Report Abuse

remember what I said yesterday - the rebound has started !!

Posted by hagi > 2014-02-28 09:25 | Report Abuse

Buy buy buy!

Posted by quahsb > 2014-02-28 09:36 | Report Abuse

hidden support has kicked in to power up again the uptrend..

Posted by SANG-JERO > 2014-02-28 10:24 | Report Abuse

bullish....let see what happen during today's closing...

Posted by nicky > 2014-02-28 15:01 | Report Abuse

slowing down... TRAP?????

Posted by hagi > 2014-02-28 16:36 | Report Abuse

Goes back to its open price. That is what happen.

Posted by SANG-JERO > 2014-02-28 22:16 | Report Abuse

On the current date Tadmax resources Position is Long - Moderate Buy based on Medium Term analysis and is Long - Strong Buy based on Long Term. Asset "Volatility Risk" is Medium and "Liquidity Risk" is Medium.

Posted by kengfp > 2014-03-03 10:34 | Report Abuse

panic selling.... sharks or buaya makaning~

Posted by mengcourt > 2014-03-03 10:39 | Report Abuse

After announcement of land deal price drops; what a share!

Posted by Fooksing Wong > 2014-03-03 12:24 | Report Abuse

sharks buy all at low price .....

Posted by quahsb > 2014-03-03 14:02 | Report Abuse

of course, they can continue to press it down to makan more, beware

Posted by nicky > 2014-03-03 16:16 | Report Abuse

Below RM0.50....

Posted by mengcourt > 2014-03-03 16:28 | Report Abuse

Below RM0.50!!!!!! will it be another CSL?

Posted by nicky > 2014-03-03 16:52 | Report Abuse

Game over ????

Posted by rmkfac100812 > 2014-03-03 16:58 | Report Abuse

vols 2 low 4 sharks 2 feed ..

Posted by mengcourt > 2014-03-03 17:10 | Report Abuse

Kenanga advocated buy at RM0.60, maybe chopping heads now.

Posted by quahsb > 2014-03-03 17:17 | Report Abuse

activated profit taking protection..

Posted by SANG-JERO > 2014-03-03 21:45 | Report Abuse

should be ok....medium term.....