Posted by tonylim > 2012-08-26 17:25 | Report Abuse

NZ,great insight

Posted by edmundgooi > 2012-08-26 17:46 | Report Abuse

Now I know why people are making money in this stock. You all are really drill down Kfima to the rock bottom from fundamental to future prospects. I really learn a lot from you all. Salute, salute and salute.

Posted by Siew Jian Bin > 2012-08-26 21:17 | Report Abuse

"Percetakan Keselamatan Nasional is actually appointed sole agent printing "money note" or Malaysia government and also confidential documents". This is the reason why I not dare to buy so much in this share as it is too GLC. When election is near, this share could be violate very much. What if BN... ??? Anyway, the fundamental is super strong and EPS also increasingly all the years. I just try to see from both sides, pro and con in this counter.

Posted by pradeep > 2012-08-26 23:36 | Report Abuse

I also believe the balance sheet is strong and no debts,if I am wrong please correct me. Eait for next week to see the result.

Posted by fandi > 2012-08-27 09:49 | Report Abuse

SJB, if you were to read Public Bank report on Kfima let me quote here

"Shorter-term contracts. Contracts for bank notes range between 6 to 7 months, and for yearly contracts, from 1 to 1 ½ years basis. The tendering process has become more tedious since 2003 as all bank note manufacturing facilities must be
audited prior to each awarded contract.

That means Kfima won the contract on the capability rather than political connection.

Posted by fandi > 2012-08-27 11:48 | Report Abuse

Please do not forget that Kfima has
(1) 5,500 hectre planantion in Miri Sarawak
(2) 6000 Hectre plantation land in Kalimamtan Indonesia and
(3) 1,500 hectre plantation land in Johor Bahru. (pls see the annual report)

If I calculate the land value alone in Malaysia which is selling at RM32,000/acre, that means, the land value alone in Malaysia is 7,000 hectre =17,297 acres x RM32,000=RM553,504,000.

Please do not forget this does not include plantation in Indonesia.


Current selling price for Sabah plantation land....

1. KELANTAN KEPONG PALM OIL ESTATE

Size: 21,932 acres (8,875 Ha)
Components: 6 plots of Palm Oil Estates including one plot of Rubber Estate with 3 oil mills, inclusive with the package price
Ages: 9 - 12 years
Land Tenure: Freehold
Selling price to buyer: RM 34,000 per acre

2. KALUMPANG KUNAK, TAWAU, SABAH ESTATE

Location: Kalumpang Kunak District, Tawau, Sabah.
Size: 4,988.33 acres (2,018.7 Ha)
Ages: 6 - 9 years
Selling price to buyer: RM 35,000 per acre (Total price=RM174,591,550)
Land Tenure: Country Lease (CL)

3. KINABATANGAN, SABAH ESTATE

Location: 1.11km off km 60, Jalan Keningau – Nabawan Rd, Sungei Labau, Kinabatangan.
Size: 25,001 acres (10,117.5 Ha)
Ages: 8 - 13 years
Selling price to buyer: RM 33,000 per acre (Total price=RM825,033,000)
Land Tenure: Country Lease (CL)

Posted by passerby > 2012-08-27 11:58 | Report Abuse

Now fandi also keen to do the details research already...lol. Good good.For now, the plantation business is the growth potential for the Kfima.

A lot of quality investors in this thread, nice to meet you all :)

Posted by fandi > 2012-08-27 12:00 | Report Abuse

Must do research Passerby, hard earned moneylah.

Posted by edmundgooi > 2012-08-27 14:22 | Report Abuse

Good one Fandi. That makes you one of the rich investor here.

Posted by aunloke > 2012-08-27 14:31 | Report Abuse

The big bang should come from the brewing M&A, however, if nothing happens its still not bad to hold this stock, it's still not overvalued.

Posted by Jian Bin Siew > 2012-08-27 14:49 | Report Abuse

Good, hope you all earn big money in this stock. Currently, I am holding DKSH. Promote a bit other share over here, haha...

Posted by pradeep > 2012-08-27 22:56 | Report Abuse

Fandi I do not agree with your calculation as you did Not calculate the bearing fruit trees

Posted by ckinsg > 2012-08-28 09:29 | Report Abuse

kfima earnings will be hit by low CPO px...
sellll

Posted by KC Loh > 2012-08-28 09:31 | Report Abuse

CPO price low? you sure?

Posted by ckinsg > 2012-08-28 09:36 | Report Abuse

r u still sleeping ka? so many plantations company anounced result... all profit drop!!!

Posted by KC Loh > 2012-08-28 09:38 | Report Abuse

i may be sleeping, but CPO reach RM3000+ since last week!

Posted by Najib Zamry > 2012-08-28 09:44 | Report Abuse

KC loh is perfectly correct CPo price now is 3,100.

Plantations company announced last quarter result it is well known fact that last quarter result most plantation companies recorded reduced profit but still a good profit. Do not forget that cost per tonne for most of the plantation company is RM1,500 per tonne, eevn the selling price of CPO dops to 2,500, the company still record good profit.

Stock market is about future!!!!!!!!!

Posted by KC Loh > 2012-08-28 09:45 | Report Abuse

as follows : http://www.theedgemalaysia.com/business-news/219126-palm-oil-inches-up-set-for-2nd-straight-weekly-gain.html

Posted by hongsaw407 > 2012-08-28 09:47 | Report Abuse

Yes KC LOH u r right. Lasy quarter CPO drop a bit, now with the soya bean poor harvest, CPO should fetch a better price till end of the year.

Posted by KC Loh > 2012-08-28 09:47 | Report Abuse

and this was the week before the edge news, as posted by kcfan. source unknown.

Palm Oil Has First Weekly Gain In Six As Malaysian Exports Climb
Palm oil prices posted its first weekly gain in six, after exports from the world’s third largest producer, Malaysia rebounded as the lowest price in 10 months lured buyers. The November-delivery contract closed at RM2,962 a metric ton after gaining 0.7 percent on the Malaysia Derivatives Exchange, the highest settlement price for the most-active contract since 31 July. Futures on the other hand, advanced 2.8 percent this week after dropping to a 10-month low of RM2,820 on 14 August. For the first half of August, Malaysia’s exports climbed 7.6 percent to 606,449 tons when compared to July in the same period. Exports fell 15.3 percent to 1.3 million tons in July from a month earlier according to the Malaysian Palm Oil Board on 10 August. Palm oil for January delivery rose 1 percent to close at Rmb7,814 a ton on the Dalian Commodity Exchange.

Significance: Malaysia’s palm oil exports began a tentative recovery for the first half of August attributed by higher shipments to China and India. However, there is a slim chance that production growth may be higher than export growth.

Posted by fandi > 2012-08-28 09:50 | Report Abuse

Good Please sell your Kfima to me. I am queing at 2.27. The more the better. Btw, plantation only contributes about 33% to the net profit of the company. May be CKinsg should wake up why my sifu CK Loh is always doing his homeowrk.

Arigato.

Posted by KC Loh > 2012-08-28 09:51 | Report Abuse

basket, change my name will you, Fandi?

Posted by ckinsg > 2012-08-28 09:51 | Report Abuse

ha ha ha, im scared when kfima anounce result even u put 1000000lots aso ppl throuw to u

Posted by fandi > 2012-08-28 09:53 | Report Abuse

sorry sorry Sifu KC .......Thousand apology...saya sudah tua alredi

Posted by KC Loh > 2012-08-28 09:54 | Report Abuse

dont call me that Fandi, everyday is learning process for me!

Posted by fandi > 2012-08-28 09:59 | Report Abuse

good CKInsg, I hope that the shareholder will sell the whole company to me because i HAVE NOTHING BUT RICH WITH MONEY.

Posted by gark > 2012-08-28 10:19 | Report Abuse

Pssst... Kfima only owns 80% of Victoria Square and in turn it owns 65% of Amgreen in turns owns the 5,500 hectares of land in miri. Nunukan Jaya is a subsidiary of Fimacor which in turn is a 60% subsidiary of Kfima. The land in Johor has 1/2 palm and 1/2 pineapple plantation approval.

So direct interest of miri land is = 5,500 ha x 0.8 x 0.65 = 2,860 ha
Johor land for oil palm plantation (assuming they convert the pineapple) = 1,500 ha
For Nunukan Jaya effective interest is = 3,000 ha x 0.6 = 1,800 ha.

Don't get me wrong, Kfima is a wonderful company, but let's not distort the facts eh? :)

Posted by Namoyaki Takarajima > 2012-08-28 10:23 | Report Abuse

gark, is this is kind of 'wild gossip'?, because you start with 'psttt..'

Posted by passerby > 2012-08-28 10:26 | Report Abuse

If you are short term striker you might be worry on the fluctuation of the earning report. If you treat your investment portfolio like managing a real business, worry on CPO price also no use - this is real economy, it is normal for CPO price to fluctuate.

Expecting 45 degree exponential graph again? Still early in the morning, lol :)

Good thing is, Kfima business portfolios don't rely fully on plantation. Steady income stream from ( security printing , bulking & property management) + ( potential growth of plantation sector ) quite a good combination for long term.

Value investor - invest on historical results,looking for good discount , buy & hold and expecting the company value to be unlocked in future.

Growth investor - invest in future , paying premium for P/E valuation & expecting the future earnings to catch up with the valuation.

Or combination of both...

It depends which type of investor are you

Posted by lcng123 > 2012-08-28 10:27 | Report Abuse

If you all wanna invest in plantation company, why not consider TDM? Currently TDM already drop from year high of RM5.00 to RM3.90 yesterday due to poor result in 2Q 2012. Poor result in Q2 2012 was due to low FFB, CPO and PK production and low CPO price during that period. I have noticed the FFB, CPO & PK production in July 2012 was sharply increased compare to June 2012. If Aug and Sept can maintain the output like July plus the CPo price increase in 3Q 2012, I can foresee the result in Q3 2012 was excellent.

Posted by gark > 2012-08-28 10:28 | Report Abuse

Oh.. sorry for the mistake above.. Kalimantan land is 20,000 hectares.

So effective interest = 20,000 x 0.6 = 12,000 hectares, but more than 1/2 of it is uncleared jungle land. :)

Posted by gark > 2012-08-28 10:31 | Report Abuse

I like the diversity of Kfima compared to TDM, in fact plantation is only 20-30% of Kfima's earnings. The main earning is the bulking installation which acts like a 'toll' for CPI/RBDPO export/import. :) Also the canning and printing business is quite resilient during bad times. :) Not to mention Kfima currently has better valuation than TDM, btw I own TDM as well...

Posted by passerby > 2012-08-28 10:33 | Report Abuse

My opinion - TDM portfolios not diversify enough to hedge any disaster to the CPO price....their healthcare contribution is promising but still weak currently...

Posted by pradeep > 2012-08-28 14:42 | Report Abuse

I must congratulate three of you KCCHONGNZ lob Najib and Fandi and of course those who have done the research on Kfima and Fimacorp And the advice you have given to us, hope to see all of if possible at the AGM of Kfima. My email address is sanghani58@hotmail.com My hand phone number is 012 6119153 .We have to find some other stock and lately I was in London for my son's graduation and I can say this much that even HEAVEN can't help EUROPE.

Posted by kl foong > 2012-08-28 14:56 | Report Abuse

Pradeep, europe really that bad?

Posted by jtpc2006 > 2012-08-28 15:00 | Report Abuse

are we living here in a fishbowl, isolated from the real stuff?

Posted by pradeep > 2012-08-28 15:21 | Report Abuse

Yes Europe is v. Bad and you will be surprise with the jobless rate .I believe UK will also be effected.,we strictly have to invest only on fundamental stocks. Latest stock I recommended is TGUAN, fundamental strong, and undervalue.

Posted by KC Loh > 2012-08-28 15:24 | Report Abuse

when i try telling em heros in KNM about jobless rate, they don't want believe me :)

Posted by ckinsg > 2012-08-28 15:31 | Report Abuse

ha ha ha, plantation related stocks badly hit

Posted by jtpc2006 > 2012-08-28 15:38 | Report Abuse

when europe sneezes, over here we catch a cold, when they catch a cold, we get pneumonia; this is how bad it gets i suppose.

Posted by Voon Soon Yoong > 2012-08-28 15:42 | Report Abuse

ckinsg.. you need to update yourself on some commodity prices.. imagine the price of soybean when the stockpile in the US decreases by half..

Posted by Voon Soon Yoong > 2012-08-28 15:42 | Report Abuse

and then palm oil will folo, and so will plantation counters..
(assume no el nino)

Posted by aunloke > 2012-08-28 15:49 | Report Abuse

Why ha ha ? in fact I don't mind it drops back to 1.80 or even to the price I first bought it at 1.50, then I"ll convert all my shares into Kfima .

Pradeep, Tguan is as safe as Kfima , these are the shares that we should 'sapu' when the price drops together with the market.

Posted by KC Loh > 2012-08-28 15:50 | Report Abuse

hedge funds are already foreseeing that corn and soybean may not be enough to last til early next year. a lot of bets are on palm oil already. hence the price moving upwards.

Posted by lcng123 > 2012-08-28 15:54 | Report Abuse

I agreed with KC Loh. palm oil companies will get better result in Q3 2012 as the production of FFB and CPO price are in the uptrend.

Posted by KC Loh > 2012-08-28 15:57 | Report Abuse

not if El Nino decides to rear its ugly head. but with improved exports to China and India and worldwide shortage of the other two commodities, then palm oil is the next commodity gold standard :)

Posted by pradeep > 2012-08-28 23:29 | Report Abuse

Aunloke you are right about TGUAN it is v good stock, good management, earning is good, dividend good NTA 2.43 and as a investor this is heaven for us .

Posted by ckinsg > 2012-08-29 11:31 | Report Abuse

Ha ha ha, d party time is over for kfima

Posted by fandi > 2012-08-29 11:47 | Report Abuse

Volume is very thin. Bought another 10kat 2.25

Posted by mrk2ca > 2012-08-29 12:56 | Report Abuse

bought today @2.26.Hope it a good entry level