Posted by Sslee > 2024-03-22 08:15 | Report Abuse

What is the operation cash flow of jayatiasa?

Posted by Sslee > 2024-03-22 08:20 | Report Abuse

6 months end 31/12/2023
RM '000
Net cash flows from operating activities 228,370

Is that a bad result?

Posted by value_invest > 2024-03-22 10:04 | Report Abuse

Hi, Just bit of my sharing here. I am 1st time to look at Jtiasa for it super Rich valuation and i did not join in 2014 when KYY shouted on Jtiasa.

As i mentioned earlier, I have read an article on how to pick a plantation stock in one of the investing plaform by an Plantation Expert:-
Titled :- WHY Jtiasa is much better than TSH, even both are good company.
Just to highlight again the point on why i joined Jtiasa this time. By looking at the fundamental:-
1) Free cash flow is about RM 400 to 500 mil a year, Earning is Rm220 to Rm240 mil P.A. Last Quarter, depreciation and armotisation is about RM100 mil, total free Cash flow alone was RM 150mil, think the company is trying to delay the earning. We will be expecting the earning will surface and spike in coming days. More, The company have paid off the debt of RM1.4 bil since 2014 when KYY was shouted on Jtiasa. During the yr 2014, Jtisa was in the expansion stage with HUGE debts of RM 1.4 bil, Palm trees take 6 -7 yrs to mature and yielding. So, You will not see the Results till this 7 yrs time. This case will happen to TSH for coming yrs, Expansion and Gearing up and wait for another 7 yrs.
For Jtiasa, The expansion stage is over now and no capex is needed coming yrs. The free solid cash flow will be Used to rewarded shareholders for higher dividend or Buying new plantations.
Again, When KYY shouted In 2014, he was right this company would be another bluechip plantation stocks with HUGE earning. But his timing was a bit early, what he was expected the earning in 2014 is starting to KICK in now in 2024. Now, Jtiasa, 2024 No debts ( 2017 debts 1.4 bil) , 2024 interest expense NIL ( 2017 RM 50mil), 2024 cash At bank RM 300 mil ( 2017 Debts). Expecting the price will slowly reflect the earning coming days. It is a different Jtiasa now compared to in 2017. Many are still stuck in the mind in 2017,,,,

I learn that there are many long tern investors are looking at this stocks lately. It is in the eye of some funds who will need to wait till the results to be confirmed to BUY even they buy at higher price.

AT CPO btw RM 3700 to RM 4000, Jtiasa will be making Tons of money, CPO above RM 4000 is another BIG Jackpot...

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-03-22 10:22 | Report Abuse

value_invest. Thanks for your analysis.

Can you project its growth in earnings going forward?

Posted by TiffanixLVxHermes > 2024-03-22 10:47 | Report Abuse

hope will not stuck here for too long 😅

Posted by Sslee > 2024-03-22 11:00 | Report Abuse

For upstream plantation it is very difficult to increase your planting areas because of RSPO and MSPO requirement. The only way to increase production is by better plantation management to increase FFB production per hectare.

Jayatiasa plantation earning will depend of FFB production and CPO price. You can get this available monthly data and estimate the quarterly result.

As of timber you can also keep tap on the monthly production and monthly timber price.


If you are looking for growth stocks then you can look into Yinson.

Posted by Up_down > 2024-03-22 11:32 | Report Abuse

3i is stucked in denial stage. Share price up from 70 cents to 1.4 now after you keep putting out the hot fire with cold water. Stuck in ego problem ke? We will see Jtiasa to trade above 2.0 within 6 months.

Posted by Up_down > 2024-03-22 11:35 | Report Abuse

I come here to learn and making money and not toying ego.

Posted by Up_down > 2024-03-22 11:54 | Report Abuse

It's simple to do benchmarking the upstream plantation within its peers with the combination of valuation market cap per hectare (or replanting costs), gearing level, P/E ratio and dividend yield.

Posted by value_invest > 2024-03-22 12:05 | Report Abuse

@ integrity—

beside growth, At this moment, jtiasa is at turning point and deeply under value. Price will just need to slowly reflect it value to market peers of PE 10 to 15.
Let’s look at some figures here:
1) management estimate yearly FFB of 1.1 mil tons, as per six month, company has achieved 70% of 1.1mil.
2) Based on above, for whole year, estimating company profit RM220 to Rn240 mil, cash flow of RM360 to Rm400 mil.. PE of 6 times..
The above estimation is base on CPO of btw Rm 3700 to Rm4000 throughout the year.
If CPO can stay at this level, jtiasa will making huge profit, CPO above RM4000 will be another big bonus.

What is the downside risk: CPO crash to below 3000 which I think jtias profit will be half to Rm100 mil, cash flow Rm 200 mil.. which is still good..

The market still don’t see the value at this turning point.. many investors’ mind are still stuck 2014.

Figures, facts and solid cash flow in bank speak everything. In market, don’t assume and talk talk. Don’t simply listen to all guru.. do your own research..

Posted by Up_down > 2024-03-22 12:07 | Report Abuse

Don't make me laugh of being ...when Jtiasa turn into JtiaDa during the price correction. We have been in i3 for more than 10 years seeing things up and down.

Posted by Up_down > 2024-03-22 12:17 | Report Abuse

Jtiasa up 100% from 70 sen in 6 months. Therefore, It's overvalued base on the above facts (price movement). I would expect this statement come out from a novice only.

Posted by value_invest > 2024-03-22 12:19 | Report Abuse

When some and KKY shouted at jtiasa, in 2014, I did not join as I know well the plantation company’s operation when they are in expansion mode with huge debts, Profit will not come in as palm trees need 6-7 yrs to yield, there were uncertainty many during this period, e.g CPO fluctuation.. KKY was right in 2014 tat jtiasa would be blue chip company, but it is too early not in 2014.. it will be in 2024 when his estimation profit will start to kick in coming days..

Posted by Up_down > 2024-03-22 12:22 | Report Abuse

I still recalled an invitation of wagyu lunch. Luckily, i didn't go for the free lunch. It's a very expensive lesson to some people.

Posted by Up_down > 2024-03-22 12:29 | Report Abuse

We had an argument in i3 for Jtiasa thread in 2014 when promotion in full swing. Base on the operation in 2014, Jtiasa did worth at such price.

Posted by value_invest > 2024-03-22 12:40 | Report Abuse

In 2014, jtisa was worth tat price for the “assets”, but not earning. if u are buying the asset or the company is liquidating or sell the assets and return u all the money. .. Worth the assets. Now we are buying jtiasa for the earning, profit and cash flow, market and price will only appreciate and reflect the earning.
If u are looking to buy assets back stocks, should go for Property stocks or even better in Hong Kong which the share price is more than 70% discount form NRAV ..

Posted by Up_down > 2024-03-22 13:22 | Report Abuse

Jtiasa did not worth at such price before 2023 mainly due to unproductive FFB and high gearing. The share price would gradually move up until to trade on par with its peers once above negative factors has been ironned out.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-03-22 13:31 | Report Abuse

htt ps://myinvestingnotes.blogspot.com/2024/03/jayatiasa-at-glance.html?m=1

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-03-22 13:40 | Report Abuse

10 years ago, it's NAV was 1.80. Today, it is 1.40.

Posted by Up_down > 2024-03-22 13:46 | Report Abuse

Gosh! NAV to measure the value of upstream plantation company. Why not use NAV for Dlady and Nestle? It's entirely different industry. Please work harder to understand our plantation industry.

Posted by Up_down > 2024-03-22 14:00 | Report Abuse

You think so easy to make money through discovering the gem in KLSE merely with ROI, PER, NAV...haha.

Posted by Save > 2024-03-22 16:58 | Report Abuse

Malaysian palm oil futures held below MYR 4,250 per tonne for the second session in a row, as traders digested data from the Southern Peninsular Palm Oil Millers Association (SPPOMA) that showed production for March 1-20 climbed by 22.4% mom. At the same time, markets awaited wider output figures from the Malaysian Palm Oil Association for further guidance. In key buyer China, official PMIs data for March are set to be released next week. For the week, the contracts are pointing to the first drop in five, slipping around 1.0% so far, dragged by recent profit-taking after prices hit their highest level in over a year last week at more than MYR 4,300. In the meantime, prices of rival edible oils were lower while crude oil fell further due to the possibility of a nearing Gaza ceasefire. Elsewhere, the first integrated palm oil processing unit in top buyer India has started its commercial operations, marking a step in the country's journey towards self-reliance in edible oils.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-03-23 09:50 | Report Abuse

I did a comparative study of Jtiasa today and 10 years ago .

Also compared Jtiasa with United Plantation today.

Great learning points.

UPlt is still the best managed plantation stock in Bursa.

Jtiasa: 10 yrs ago 3 big segments. Today, 2 big segments: dominated by its plantation. Plantation revenue of Jtiasa today is 2x that of 10 years ago.

Focus on the business and fundamentals.

Posted by speakup > 2024-03-23 09:57 | Report Abuse

Utdplnt is given premium valuation because it is run by White men! Sama macam Allianz, Nestle. There is still an age old mentality that the British colonist are the best, most honest businessmen.

Posted by speakup > 2024-03-23 09:59 | Report Abuse

if Utdplnt was sold to a local malaysian, guaranteed utdplnt will be at most rm12 only!

Posted by Berlin > 2024-03-23 10:20 | Report Abuse

Premium valuation is given when it is well deserved and only after decades of sustained growth and proven performance. Nothing to do with management's skin color. Everything to do with trust, integrity and shared prosperity among all stake holders.

Posted by speakup > 2024-03-23 10:22 | Report Abuse

if Jtiasa sold to white man, dah guarantee Jtiasa >rm5

Posted by Up_down > 2024-03-23 10:23 | Report Abuse

Utdplnt involve more in refineries business, not a pure upstream player. Jtiasa is a pure upstream player. How to make a comparison? Why not you take Utdplnt compare with Dlady and Nestle?

Posted by Berlin > 2024-03-23 10:27 | Report Abuse

By the way, while they are multinational corporations, Allianz is of German origin while Nestle is Swiss. Utd Plt founder is Danish origin. If looking for British, try Boh Plantations.

Posted by Up_down > 2024-03-23 10:39 | Report Abuse

We are trying to making a more sensible comparison with its nearest peers in upstream business in Sarawak. If you claim Utdplnt is good then i would say Nvidia is much better.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-03-23 10:40 | Report Abuse

>>>
Up_down

Utdplnt involve more in refineries business, not a pure upstream player. Jtiasa is a pure upstream player. How to make a comparison? Why not you take Utdplnt compare with Dlady and Nestle?

6 minutes ago

>>>

Up_down is jumping up and down. 😀

DLady and Nestle remain multiple baggers (>10+) in my portfolio even after the severe crashes in their prices.

Posted by Up_down > 2024-03-23 10:44 | Report Abuse

Protecting your precious ego lagi? Dlady jumped down from 70 floors to 27 floors now. Lol

Posted by Berlin > 2024-03-23 10:45 | Report Abuse

Utd Plt has more than a century of innovative agricultural history in Malaysia. They treat their workers well, providing good housing and benefits. They pay their suppliers on time. They distribute generous dividends. They don't monkey around with related party transactions. Go visit their main site at Berang, Perak and marvel at how clean and organized their workers quarters are. There's even a little delicious bakery there open to visitors.

Posted by Up_down > 2024-03-23 10:46 | Report Abuse

Is it we call it being positive attitude in protecting high egoism? Never admit you are wrong call in Dlady.

Posted by Berlin > 2024-03-23 10:53 | Report Abuse

Compare JTiasa to Ta Ann.

Posted by Up_down > 2024-03-23 11:12 | Report Abuse

We compare Jtiasa peers in Sarawak, ie TAAN, swkplnt & SOP. Some people make a comparison with Inno & Hsplnt in Sabah and move further to TSH in Kalimantan. Hahaha

Posted by xiaoeh > 2024-03-23 11:14 | Report Abuse

personally;
all companies aforementioned are good
just ask ourself
if we were to buy the above companies with the same amount of money
with the current share price and estimated share price movement
which one will give us better return in a same period of investing time frame?

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-03-23 11:20 | Report Abuse

Up_down's ego is shaken.

In 2014, Jtiasa was 1.47. Did calvin sell before it subsequently went down to 30sen+? Then it bounced back briefly and hugely to 80sen+? Calvin asked to sell to buy another stock. From 147 storey down to 30+ storey, did not bail? Then bailed out at 80 storey, presumably, cutloss and not cutting!😀

Posted by Up_down > 2024-03-23 11:27 | Report Abuse

Of course, my ego is shaken when Jtiasa returned gradually to norm with the signs of huge reduction in borrowings. Therefore, i don't even care how i bashed Jtiasa with negative comments base on facts last time. Jtiasa has changed, therefore, i change. That's how i would earn big in Jtiasa. Mana ego saya? Lol

Posted by Up_down > 2024-03-23 11:29 | Report Abuse

You still keep your high ego of Dlady jumped off from 70 floors until 27 floors?

Posted by Up_down > 2024-03-23 12:08 | Report Abuse

It could be making money is not important to you in the share market. You don't depend on trading profit to make a living or not your main source of income. Therefore, you are being so relax able to keep your high egoism. Hahaha

Posted by Sslee > 2024-03-23 12:24 | Report Abuse

3iii is very lucky to be born at the right time, right place and with right parent thus can have spare money to accumulate all those blue chip companies long ago at a very low cost to him.

Me a bit unlucky, had to work very hard to raise a family and take care of parent then. Only in recent year have some spare money to invest and thus must be very alert/careful when and what to buy and when to sell our holding. (To people like 3iii we are just trader and not an investor)

Posted by Up_down > 2024-03-23 12:25 | Report Abuse

I could be wrong. It would be more tension to keep high egoism intact all the times...very fragile wor.

What's wrong to me turning from the Jtiasa opponent camp to big supporter now. Nothing wrong! If not, how am to make money consistently in stock market.

Posted by Up_down > 2024-03-23 12:34 | Report Abuse

3i could be relying on dividend income to support his life and he was lucky. We, traders, started with a small capital and have to work very very hard to understanding the business of the company or an industry. Market keeps changing and repeating.

Posted by Up_down > 2024-03-23 13:46 | Report Abuse

Overcoming negative perception is almost the biggest obstacles in this profession. It involves strong personal dislike emotion or fears due to unwellcome past experiences. If we can overcome it then the rewards are very fruitful and beyond the expectation.

Posted by Up_down > 2024-03-23 14:16 | Report Abuse

The opposite is obssesed with positive perception. The attachment in emotion is so strong that resulting our mind looking for every positive news or slim chance of positive outcome to get a relief from fears of detachment. That's how it blocking investors from thinking rationallly and reluctant to cut loss.

Posted by Up_down > 2024-03-23 14:28 | Report Abuse

There are a series of ego protection emerged ie ' i can not be wrong since i have done so deep and so much homework for this company '. ' this is only 20% of my portfolio'. ' i invest for dividend.' ' i don't depend of stock market to make a living.' ...there are countless of reasons talking in the mind refusing to admit wrong and engage a fine tuning exercise.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-03-23 14:28 | Report Abuse

https://youtu.be/3TO2-yU3Cyo?si=HmaZZveUa5uA-jUD

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-03-23 14:30 | Report Abuse

https://youtu.be/3TO2-yU3Cyo?si=HmaZZveUa5uA-jUD

Listen to the first 5 minutes of this audiobook, and you will realise how superior the teaching of Philip Fisher's is when compared to that of Ben Graham.

Posted by Up_down > 2024-03-23 14:39 | Report Abuse

Read and listen 100 times also doesn't help much until put the other people theories into practice. I love nike slogon ' just do it' to get the experience and keep learning and fine tuning until it becomes our best model (or a SOP) of making money in stock market.