Posted by Oratan > 2023-12-26 15:39 | Report Abuse

share price drop because of LHI Macc case?

Posted by markgold > 2023-12-27 14:53 | Report Abuse

technically nothing to do with Teo Seng Capital.

Posted by Oratan > 2023-12-27 18:17 | Report Abuse

oh yeah close green today, challenging previous high soon?

Posted by Oratan > 2023-12-27 18:17 | Report Abuse

other poultry stock like pwf and cck also look not bad in tern of technical

Posted by Oratan > 2023-12-27 18:18 | Report Abuse

@markgold yes but because LHI is the major shareholder of teo Seng too so ppl might think affected

Posted by markgold > 2023-12-28 09:45 | Report Abuse

Indirectly Teo Seng shareholders may get special dividend, If LHI lose the court case in 2nd half of 2024 and need money to pay for the fine.

Posted by Simonalibaba > 2023-12-29 09:29 | Report Abuse

Record profits, they also want to reward themselves with record dividends 🤣, expecting another 5 sen of not 10 sen.

Posted by Oratan > 2024-01-03 17:25 | Report Abuse

share price still looking good, waiting to explode?

Posted by warrantKing > 2024-01-04 22:55 | Report Abuse

There are joker,
he said buy buy buy , then teoseng wash abit , he cannot tahan and sell off all his stock , and deleted comment.
Now teoseng naik back , he tekan his eggs until pecah.

Posted by Simonalibaba > 2024-01-05 23:40 | Report Abuse

Let them sell down more, so we can buy it up

Posted by cheah111 > 2024-01-06 03:23 | Report Abuse

looks likely they want to flush out the weak holders before big spike again.

Posted by Trianon > 2024-01-08 10:10 | Report Abuse

That's one of the disadvantages if people don't have holding power. Getting washed 😆

Posted by Simonalibaba > 2024-01-08 10:56 | Report Abuse

*Teo Seng Capital Meeting Note Takeaway*
_(TSCB MK, NOT RATED, FV: MYR2.19)_

♦️ *Continue to collect government subsidy smoothly.* About 65% of their total egg production is subjected to ceiling price and subsidies. TSCB expects to receive higher amount of subsidy from government in 4Q23 in tandem with higher number of months of subsidy being collected and higher sales from higher daily egg production. We expect a 10-15% effective tax rate for FY23. As the Group has recognized its subsidy up to May in 3Q23, we expect the Group continues to claim the outstanding FY23 subsidy from government in near term and recognize the subsidy income until 1H24.

♦️ *Sustainable topline in near term.* Q4 is usually its strongest quarter due to stronger buying behavior on festive season. Hence, the management thinks that its sales volume can be improved in Q4 together with its higher daily egg production from continual upgrade of its chicken farms. The management does not see much fluctuation of egg ASP and feed cost prices remain relatively lower than YTD's peak. The management is optimistic on the YoY improvement of sales volume at least until 1H24.

♦️ *Malaysia biggest egg exporter to Singapore.* As of 9M23, TSCB is exporting about 23% of its total egg production to Singapore, which commands higher margin. The Group is working hard in launching downstream products in eggs to export more to Singapore including hard-boiled eggs, soft-boiled eggs and herbal eggs. The downstream products are currently taking up 0.7% of its total egg production and expect it to increase to 1% in next FY.

♦️ *Margin expansion with improved efficiency.* With food security concern on food hygiene and prevention of diseases, TSCB is the first egg producer in Malaysia who adopted All-in-all-out system in a closed-house system since 1999. Without resting on its laurels, TSCB invested in implementing automation system into its integrated layer farming operational process. This includes auto feeding system, modern layer cage system, automated egg collecting system, nipple drinking system, air-conditional environment, smart system for feeding, ventilation and lighting as well as automated chicken manure belt (to produce organic fertiliser). These are to ensure the quality of egg produced and increase efficiency by reducing manual workers. When old bird house was torn down and replaced with a new double storey bird house, the no of bird capacity for the same floor size will increase from 25k to 80k birds. With the hard work from years of production system improvement, TSCB is now starting to reaping the fruit from better efficiency and higher margin business with its eco-system. On the other hand, the Group is also gradually shifting its local wholesale sales to local direct sales which command higher margin.

♦️ *Awaiting for Govn announcement.* In Oct 2023, government targets to uplift the ceiling price of eggs in January 2024. However, we have not heard anything from the Government till now. Management expects to hear something from government in mid Jan on whether to continue subsidy and price control program or allow free market. From our ground check, most egg producers prefer free market due to better cash flow and flexibility to adjust egg prices based on costs movement.. In our view, even when free market comes into play, egg as the cheapest source of protein and deemed as necessities, is relatively price inelastic. Coupled with industry consolidation, high investment costs, & increasingly stringent regulatory requirements, the Group can still remain profitable until 1H24. Another point that distinct egg sellers from chicken sellers is that egg has much shorter shelf life of say 30 days compared to chicken (frozen chicken can last up to6 months). Hence, Malaysia egg consumption is highly dependent on local egg producers rather than importers.

♦️ *Undervalued stock.* With the latest quarter result announced, we think the stock is currently trading at just 3.8x vs its peers' trading P/E of 8.3x (Figure 12). In the event that TSCB managed to register higher EPS in the subsequent quarter, Its trading P/E will be pared down even further. Its high dividend yield of >6% in FY23F and FY24F makes it a compelling investment.

Posted by Simonalibaba > 2024-01-08 10:57 | Report Abuse

Walao Teoseng PE 3.8 Vs peers of 8.3!! So can double to 3.40?

Posted by markgold > 2024-01-08 12:07 | Report Abuse

Thanks for the information share by Simonalibaba.

Posted by markgold > 2024-01-08 12:13 | Report Abuse

Luckily, I added some more during Friday afternoon.

Posted by warrantKing > 2024-01-08 20:06 | Report Abuse

Just hold and wait until QR out only decide lo.
Corn price dropped jor 30% from last year till now . The operation cost surely lowered.

Posted by kk7198 > 2024-01-09 13:17 | Report Abuse

Everybody loves to eat eggs esp foreigners. It is the cheapest protein available. Now the price is free float n soon it will break RM2.00.

Posted by katara > 2024-01-09 13:46 | Report Abuse

good year for teoseng..

Posted by warrantKing > 2024-01-09 20:10 | Report Abuse

Crossed 52W High . RM2 hopefully

Posted by Cakes Moon > 2024-01-10 12:08 | Report Abuse

Buy it & earn money everyday

Posted by rchi > 2024-01-10 12:42 | Report Abuse

golden eggs..

Posted by wahidul > 2024-01-10 13:20 | Report Abuse

new high today,soon gonna break rm2 cheers

Posted by Simonalibaba > 2024-01-10 14:37 | Report Abuse

Heard very strong Q4>Q3
Target can exceed 2.5 with div

Posted by Simonalibaba > 2024-01-10 14:39 | Report Abuse

2.5 only PE of 5 but if pE 8 as per industry can see 3.40

Posted by wahidul > 2024-01-10 18:10 | Report Abuse

very undervalued stock,worth at least rm3-3.50,gonna be a bumper year this coming qr and full year record breaking 👍

Posted by Oratan > 2024-01-11 10:13 | Report Abuse

congrats to all holder... waiting for it to break RM 2

Posted by Trianon > 2024-01-15 11:39 | Report Abuse

Wow, Leong Hup also bought in this company

Posted by wahidul > 2024-01-15 13:39 | Report Abuse

Leong Hup is substantial shareholder,holding more than 55% stake 👍

Posted by katara > 2024-01-15 14:23 | Report Abuse

moving north ..

Posted by Simonalibaba > 2024-01-16 09:35 | Report Abuse

They have intention to privatize it

Posted by izoklse > 2024-01-16 17:15 | Report Abuse

yeahhh masih bertahan

Posted by wahidul > 2024-01-16 18:05 | Report Abuse

strong fundamentals & strong future earnings visibility

Posted by izoklse > 2024-01-17 10:26 | Report Abuse

nice...:-)

Posted by katara > 2024-01-17 11:12 | Report Abuse

eat eggs:)

Posted by wahidul > 2024-01-17 13:43 | Report Abuse

holding up very well,strong quarter coming up,cheers

Posted by Oratan > 2024-01-18 10:02 | Report Abuse

poultry stock like teoseng, pwf, cck and cab still looking good

Posted by troy88 > 2024-01-18 11:04 | Report Abuse

Yes, still strong despite market shake up. Should have no problem surpassing RM2 in the near term..

Posted by wahidul > 2024-01-18 14:19 | Report Abuse

interim dividend 3cts announced today

Posted by markgold > 2024-01-18 15:35 | Report Abuse

No surprise in dividend declare.

Posted by bilisinvestor > 2024-01-19 02:36 | Report Abuse

Why out of the blue declare dividend?

Posted by wahidul > 2024-01-19 09:34 | Report Abuse

there could be a final dividend and special dividend coming up next month when the results are announced

Posted by Trianon > 2024-01-19 11:42 | Report Abuse

Final dividend will be received in June or September?

Posted by wahidul > 2024-01-19 16:15 | Report Abuse

March or April

Posted by Trianon > 2024-01-23 15:29 | Report Abuse

Looks like it's February
https://klse.i3investor.com/web/entitlement/detail/26119_3378991015

Posted by markgold > 2024-01-24 11:04 | Report Abuse

Invest in this counter, we can sleep soundly and enjoy the drama of small cap happened recently.

Posted by katara > 2024-02-02 11:04 | Report Abuse

buy

Posted by Simonalibaba > 2024-02-02 21:18 | Report Abuse

Yes buy 👍

Posted by troy88 > 2024-02-05 10:11 | Report Abuse

PE still very low. Company has been making record profits for the past few quarters.

Posted by markgold > 2024-02-05 11:45 | Report Abuse

People are not interested in poultry stocks unless good profit and dividend for at least 2 or 3 years.