Highlights

THE INVESTMENT APPROACH OF CALVIN TAN

Author: calvintaneng   |   Latest post: Thu, 1 Dec 2022, 2:17 PM

 

REPOSTED IDEAS FROM TSH RESOURCES (9059) FORUM (Avoid Spam/Scam posts) By Calvin Tan

Author:   |    Publish date:


Dear Investors of i3 Forum

This afternoon we have compiled ideas from TSH Resources

As the saying goes

"Great minds talk ideas

Good minds talk things

Weak minds talk people

 

Great Minds Discuss Ideas; Average Minds Discuss Events; Small Minds Discuss People

 

SO PLEASE AVOID READING "SMALL MINDS" THAT CONSTANTLY TALK ABOUT PEOPLE

 

And here are some ideas worth your consideration (From TSH Forum)

 

 Posted by calvintaneng > Aug 19, 2022 2:57 PM Report Abuse X

We can estimate why Tsh is a good stock

no. 1 is earnings

Last qtr Tsh earned 6.99 sen profit

Annualised 6.99 x 4  is 27.96 sen

at Rm1.13

tsh earns 24.7%

Berkshire Hathaway of Warren Buffet in his best years earn 25% or p/e 4

that means Tsh will double your money in 4 years

 

 Posted by calvintaneng > Aug 19, 2022 2:59 PM Report Abuse X

keeping cash also got a p/e or price earning ratio

if you keep in bank FD for one year at 1.75%

the p/e is 57.4

it will take 57.4 years to double your money from one ringgit to two ringgit

it's value will be destroyed by high inflation

 

Posted by calvintaneng > Aug 19, 2022 3:02 PM Report Abuse X

we can also measure Tsh by its assets value

sale of Bulugan lands made Rm465 millions (book value was Rm255.4 mil) or up 186%)

(Since its book value is Rm255.4 Mil  sale of Bulugan land is Rm731.09 Mil

The Profit is Rm465 Mil

To get Profit by percentage divides Rm465 mil by Rm255.4 Mil = 186%


so if revalued all assets the Nta of by adding 186%

the Nta will be over Rm3.00

in that case Tsh is selling below asset value by huge discount

 

Posted by calvintaneng > Aug 19, 2022 3:04 PM Report Abuse 

X

3. we measure Tsh by its associate value

Tsh started Innoplant for Sabah Govt

 

SEE INNO: SMALL BUT DYNAMIC

 

 

 

 

 

 

 

 

 

 

 


In early days no dividend from inno as plants were young

today Inno gives 6 sen dividend each qtr

alot of people chased inno but not Tsh directors

why?

 

Posted by calvintaneng > Aug 19, 2022 3:06 PM Report Abuse 

X

Reason why Directors only buy Tsh and not inno is this

in USA there are farmers who don't own lands

so they work as share croppers

these will plant for wealthy land owners to get a share of the crop

 

 Posted by calvintaneng > Aug 19, 2022 3:07 PM Report Abuse 

X

and precisely same

inno does not own any palm oil lands as all belong to Sabah Govt (go see inno Annual report. scroll down to property owned by Inno

none!

nothing

no palm oil lands listed

 

Posted by calvintaneng > Aug 19, 2022 3:08 PM Report Abuse 

X

Tsh on the other hand bought lots and lots and lots of lands since 42 years ago in year 1980

 

 

Posted by calvintaneng > Aug 19, 2022 3:10 PM Report Abuse X

with lands purchase came loans and bank borrowings

but lands bought have skyrocketed in prices today

just selling two pieces

Sabah and Bulugan have pared down debts

 

 Posted by calvintaneng > Aug 19, 2022 3:11 PM Report Abuse X

Because Tsh was trying to pay bank loans it only give small dividend

inno no assets and no loan no debt can pay 80% dividend out of profit

 

Posted by calvintaneng > Aug 19, 2022 3:13 PM Report Abuse 

X

think like this

a Bangla work for wages but does not own the shop he worked in

at the end he will leave Malaysia only the cash he earned and nothing else

A Malaysian can buy a shophouse and do business at the same time

at the end of decades his shop house has gone up very very high in value

 

Posted by calvintaneng > Aug 19, 2022 3:14 PM Report Abuse X

you want to be Bangla then buy innoplant

if you want to be a Malaysian then go buy Tsh resources

understand now?

 

 Posted by calvintaneng > Aug 19, 2022 3:23 PM Report Abuse X

3 is Tsh association with inno

truth is stranger than fiction

some employees spent more and live better than their bosses

why?

because employees don't own expensive shops with monthly loans to pay

the boss in early years got to live frugally to make his company a success

so is inno dividend in contrast with Tsh

 

Posted by calvintaneng > Aug 19, 2022 3:24 PM Report Abuse X

people cannot understand that inno can only pay a dividend

it has no assets to sell to give a cash payout

 

Posted by calvintaneng > Aug 19, 2022 3:26 PM Report AbuseX

Tsh and Bplant because got lots of high value land asset can sell and unlock value to give high capital return

 

Posted by calvintaneng > Aug 19, 2022 3:27 PM Report Abuse X

Example like this

the next piece in Kutai east about 15,000 acres

Wizman phoned Calvin Spore and said they are worth Rm10 psf

 

 Posted by calvintaneng > Aug 19, 2022 3:28 PM Report Abuse X

How come wizman so clever?

he is a Real Estate Negiotor  by calling

so he called housing agent in Nusantara

the figure psf is Rm10

Posted by calvintaneng > Aug 19, 2022 3:29 PM Report Abuse X

Now 15000 acres x 43560 to convert to Sq ft

 

Posted by calvintaneng > Aug 19, 2022 3:30 PM Report Abuse 

X

at Rm10 psf is a mind blowing figure of Rm6.5 Billions

 

Posted by calvintaneng > Aug 19, 2022 3:31 PM Report Abuse 

X

that is more than Rm4 a share (still got 3 estates in Kutai West)

 

Posted by calvintaneng > Aug 19, 2022 3:32 PM Report Abuse 

X

now if that day of days come when Tsh can sell just one piece to get Rm4 a share

even if Bod decides to give free reward of 50% is Rm2 in your pocket

 

Posted by calvintaneng > Aug 19, 2022 3:33 PM Report Abuse 

X

what inno cannot do Tsh could do

give Cash pay out from assets sale

that is when Tsh share price will overtake inno

 

Posted by calvintaneng > Aug 19, 2022 3:35 PM Report Abuse 

X

number four

we can value Tsh performance by its competitors in Indonesia in which it has 80% palm oil

 

Posted by calvintaneng > Aug 19, 2022 3:36 PM Report Abuse 

X

goldenagri was 14 sen and now up 100% to 28 sen

 

 Stock: [Golden Agri-Res]: GOLDEN AGRI-RESOURCES LTD

Last Price Today's Change   Day's Range   Trading Volume
0.28   0.00 (0.00%)  0.28 - 0.285  4,117,600
 

 

Posted by calvintaneng > Aug 19, 2022 3:37 PM Report Abuse 

X

how can Tsh we bought Rm1.09 up so little at Rm1.12?

that shows that I must sell my goldenagri to buy more Tsh

 

Posted by calvintaneng > Aug 19, 2022 3:39 PM Report Abuse X

bumitama spore also up from 46 sen to 64.5 sen (up 40%)

 

 

 

Last Price Today's Change   Day's Range   Trading Volume
0.655    +0.015 (2.34%)  0.64 - 0.655  662,300
 

 

 Posted by calvintaneng > Aug 19, 2022 3:39 PM Report Abuse X

so by way of comparing with it's peers Tsh is very undervalue

 

Posted by calvintaneng > Aug 19, 2022 3:40 PM Report Abuse X

reason number 5

compare Tsh with it's past bull run record

 

Posted by calvintaneng > Aug 19, 2022 3:41 PM Report Abuse 

X

in year 2014 Ijmplant and Tsh both raced side by side & hand in hand like abang adik to over Rm4.00

 

Posted by calvintaneng > Aug 19, 2022 3:42 PM Report Abuse 

X

now we know Tsh was diluted by free one bonus for two while Ijmplant remain status quo

 

 Posted by calvintaneng > Aug 19, 2022 3:43 PM Report Abuse X

adjusted for free bonus Tsh should be Rm2.70

now Klk took Ijmplant private at Rm3.10 (from Rm2.20)

 

Posted by calvintaneng > Aug 19, 2022 3:44 PM Report Abuse 

X

let's see the value in tandem

at Rm3.10 from peak Rm4.00

there was a 25% discount

 

Posted by calvintaneng > Aug 19, 2022 3:46 PM Report Abuse 

X

so Ijmplant was taken private at 25% discount to peak

 

Posted by calvintaneng > Aug 19, 2022 3:46 PM Report Abuse 

X

For Tsh the adjusted price from Rm2.70 will be Rm2.02

 

 

 Posted by calvintaneng > Aug 19, 2022 3:47 PM Report Abuse X

now Ijmplant only got palm oil estates and 7 mills

 

Posted by calvintaneng > Aug 19, 2022 3:48 PM Report Abuse X

Tsh got palm oil and 6 mills (one mill was sold )

plus it has 50/50 Joint venture Refinery with Wilmar in Sabah

 

 Posted by calvintaneng > Aug 19, 2022 3:50 PM Report Abuse 

X

it has others like cocoa factories

biomass for Bio electricity

it has 300,000 acres forest concession lands from Sabah Govt for 100 years

 

Posted by calvintaneng > Aug 19, 2022 3:51 PM Report Abuse 

X

on the palm oil and forest now Tsh has planted with bilogical assets worth Rm400 millions

 

Posted by calvintaneng > Aug 19, 2022 3:53 PM Report Abuse 

X

point number 6

when Ekowood was taken private by Tsh Ekowood was 40 sen and Tsh was Rm1.96

 

BELOW COMMENTS EXTRACTED FROM EKOWOOD FORUM

 

 Posted by Jon Choivo > 2016-12-01 10:22 | Report Abuse

This thing will go through, 100%. Ekowood office is within TSH office already. The directors every day say hello, no way it wont go through. Only question here is, what is the break even point.

At 0.33, TSH price must drop below the all time low to 1.59 before you even lose money. I think this is impossible. Its a plantation company, high debts, but 3 positive quarter in a row. Considering how high CPO prices is for sept to dec, im sure the 4th is a positive as well.

Im all in.

 

Jon Choivo

3,659 posts

 Posted by Jon Choivo > 2016-12-01 12:54 | Report Abuse

bought 200k at 3.43, couldve sapu the 335 queue but i was being penny wise, pound foolish.

 

Jon Choivo

3,659 posts

 Posted by Jon Choivo > 2016-12-01 14:27 | Report Abuse

Given
1.92/0.4*0.33=1.584
1.92/0.4*0.34=1.632
1.92/0.4*0.35=1.680
1.92/0.4*0.36=1.728
1.92/0.4*0.37=1.776
1.92/0.4*0.38=1.824.

I think the fv is 0.38

 

firehawk

4,360 posts

 Posted by firehawk > 2016-12-16 10:34 | Report Abuse

Jon, thks for yr calculation :-)

 

firehawk

4,360 posts

 Posted by firehawk > 2017-01-06 10:47 | Report Abuse

approachs to fv 0.38, @0.38 equivalent to TSH=1.82 ... now TSH is 1.92 ....

 

NAHNEW

1 posts

 Posted by NAHNEW > 2017-02-13 10:53 | Report Abuse

Do anyone knows that TSH pay ECOWOOD shareholder 0.40 per share or convert the share to TSH share of 0.4/1.96 ?

 

calvintaneng

48,170 posts

 Posted by calvintaneng > 2021-10-14 21:07 | Report Abuse

Hi guys

In year 2017 when Cpo was below Rm3500 per ton TSH Was Rm1.92

Now Cpo over Rm5000 Tsh only Rm1.20?

And Wood also Multi year high as well

TSH Now at Rm1.20 is an outright buy!

Just buy up TSH as much as you can afford and hold till it goes back to Rm1.92 & more

Regards

Calvin

 

Posted by calvintaneng > Aug 19, 2022 3:55 PM Report Abuse X

Ekowood is reaping those planted forest now mature for harvesting to do wood flooring

and Tsh now only Rm1.12 while in 2017 it was Rm1.96

that is cheap

 

 

 

Posted by calvintaneng > Aug 19, 2022 3:57 PM Report Abuse X

point number 7

Directors were only nibbling last many years but since this year THEY STARTED HANTAM
WALLOP
MAKAN KUAT KUAT!!!


calvintaneng 
48170 posts

 Posted by calvintaneng > Aug 19, 2022 3:58 PM Report Abuse X

Director Lim Fook Hin started Inno for Sabah Govt in 2007

this year added 500,000 shares of Tsh


calvintaneng 
48170 posts

 Posted by calvintaneng > Aug 19, 2022 3:59 PM Report Abuse X

Director Tan Aik Yong already in top 30 of Tsh Walloped 16 millions Tsh at Rm1.643


calvintaneng 
48170 posts

 Posted by calvintaneng > Aug 19, 2022 4:00 PM Report Abuse X

He dared to buy 16 mil at Rm1.643???

crazy or clever???


calvintaneng 
48170 posts

 Posted by calvintaneng > Aug 19, 2022 4:01 PM Report Abuse X

Director Tan Aik Pen

MAKAN 500,000 shares every day till he got 293 million Tsh now

 

 

Posted by calvintaneng > Aug 19, 2022 4:29 PM Report Abuse X

Ok point number 8

Tsh started increasing dividend

Year 2020

1 sen

Year 2021

2 sen

2022

3 sen

 

Posted by calvintaneng > Aug 19, 2022 4:30 PM Report Abuse X

Good sign

Only healthy tree bears fruit

 

Posted by calvintaneng > Aug 19, 2022 4:31 PM Report Abuse 

X

By tasting the durian we know the tree is good

Selling bulugan lands for 186% profit is like tasting mau sang wang durian

 

Posted by calvintaneng > Aug 19, 2022 4:38 PM Report Abuse 

X

Now every co will do this

1. Increase dividend like Tsh
2. Reduce dividend like Dlady
3. Ask for money like Yinson
4. Go bankrupt like london biscuit

 

Posted by calvintaneng > Aug 19, 2022 4:39 PM Report Abuse X

Very soon Tsh will be debt free and handsome dividend can be expected

 

 Posted by calvintaneng > Aug 19, 2022 4:41 PM Report Abuse 

X

Point number 9

By macro assets appreciation value

 

Posted by calvintaneng > Aug 19, 2022 4:42 PM Report Abuse 

X

The best palm oil lands are found in Sabah

The land below the wind

 

 Posted by calvintaneng > Aug 19, 2022 4:43 PM Report Abuse 

X

Tsh owns palm oil estates in Sabah along the palm oil belt of sandakan, lahad datu and tawau

 

 

 Posted by calvintaneng > Aug 19, 2022 4:44 PM Report Abuse 

X

Here also got mills plus a Refinery producing Golden dragon fish "arowana" cooking oil for export to China

 

Posted by calvintaneng > Aug 19, 2022 4:46 PM Report Abuse 

X

And it owns 94700 acres chun chun land in kutai/nusantara

Indonesia is endowed with hard working indon at lower labour cost

See

LAND BOOM IN KUTAI/NUSANTARA

WHILE PEOPLE RUSHING TO BUY LANDS DIRECTORS OF TSH ARE RUSHING TO BUY TSH SHARES DAILY!

 

 

NEXT WEEK TSH WILL BE REPORTING ITS AUGUST 2022 RESULTS

Included are 3 highlights

1) About 3.99 sen profit from staggered Sabah land sold

2) FFB (Higher this Qtr by 20.9%)

3) CPO at Record Rm6,552 (April to June 2022 Average price)

Barring unforseen impairment result should excels 

 

NOV 2022 WILL BE FANTASTIC

22 SEN STAGGERED PROFIT FROM BULUGAN LAND SALE RECEIVED

 

 

 

TSH Now Rm1.12

 

One year Target price Rm2.70

 

Best & Warmest regards

Calvin Tan

 

Please buy or sell after doing your own due diligence or consult your Remisier/Fund Manager

 

 

 

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calvintaneng TSH RESOURCES (9059) KEEP THESE FIGURES IN MIND IF YOU OWN TSH SHARES (PRINT IT OUT PUT IT ON THE WALL TO REMIND YOURSELVES), Calvin Tan

https://sgx.i3investor.com/blogs/Jbhouseforsale/2022-07-24-story-h49564213-TSH_RESOURCES_9059_KEEP_THESE_FIGURES_IN_MIND_IF_YOU_OWN_TSH_SHARES_PRINT.jsp
20/08/2022 4:43 PM
calvintaneng TSH RESOURCES (9059) & TAANN (5012) TWO PALM OIL STOCKS (KLSE) CHOSEN BY MORGAN STANLEY IN MSCI, Calvin Tan

https://sgx.i3investor.com/blogs/Jbhouseforsale/2022-07-26-story-h49564312-TSH_RESOURCES_9059_TAANN_5012_TWO_PALM_OIL_STOCKS_KLSE_CHOSEN_BT_MORGAN_S.jsp
20/08/2022 4:44 PM
calvintaneng TAANN (5012) KLSE PALM OIL JEWEL, High EPS, Grossly Undervalue Assets; & Increasing Dividends, Calvin Tan

https://sgx.i3investor.com/blogs/Jbhouseforsale/2022-08-08-story-h49565180-TAANN_5012_KLSE_PALM_OIL_JEWEL_High_EPS_Calvin_Tan_Grossly_Undervalue_Ass.jsp
20/08/2022 4:45 PM
calvintaneng RELENTLESS BUYING OF TSH RESOURCES BY DIRECTOR FOLLOWS THE PATTERN OF BONIA, Calvin Tan

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2022-08-16-story-h1627954013-RELENTLESS_BUYING_OF_TSH_RESOURCES_BY_DIRECTOR_FOLLOWS_THE_PATTERN_OF_B
20/08/2022 4:47 PM
calvintaneng CHINA BUYING 1 MILLION TONNES CPO FROM INDONESIA PLUS INVEST IN GREENTECH PARK IS BEST NEWS FOR TSH RESOURCES, Calvin Tan

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2022-07-27-story-h1626994848-CHINA_BUYING_1_MILLION_TONNES_CPO_FROM_INDONESIA_PLUS_INVEST_IN_GREENTE
20/08/2022 4:49 PM
calvintaneng GLEANINGS NUGGETS OF TRUTH ABOUT PALM OIL FROM TSH FORUM, Calvin Tan

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2022-08-11-story-h1627888634-GLEANINGS_NUGGETS_OF_TRUTH_ABOUT_PALM_OIL_FROM_TSH_FORUM_Calvin_Tan
20/08/2022 4:51 PM
calvintaneng TSH RESOURCES: ONE COMPANY WITH 9 BUSINESSES; The Most Overlooked, Undemanding, Undervalue Palm Oil Stocks with Far Reaching Now & Future Potential

https://klse1.i3investor.com/blogs/www.eaglevisioninvest.com/2021-08-17-story-h1569795039-TSH_RESOURCES_ONE_COMPANY_WITH_9_BUSINESSES_The_Most_Overlooked_Undeman.jsp
20/08/2022 5:22 PM
Yu_and_Mee time to avoid plantation including TSH.
Technically, TSH is downtrend in bigger picture.
May form sideway for at least 1 year or 2.
If got extra money and not urgent, can park here to wait. Good suggestion from calvin.
20/08/2022 7:43 PM
calvintaneng Got great results out next week

Fantastic profits

Good dividends

Special dividends

Possible free bonus

Possible free warrants

Takeover like Klk took ijmplant
20/08/2022 9:03 PM
calvintaneng Soyoil now over us 60 sen a lb

Will lift up Cpo prices much higher

Real genuine profits of more than 100% for palm oil companies
20/08/2022 9:05 PM
calvintaneng
EKOWOOD INTERNATIONAL BHD
KLSE (MYR): EKOWOOD (5091)

https://klse.i3investor.com/web/forum/forum-thread/800000852
20/08/2022 10:42 PM
calvintaneng WHY TSH RESOURCES SHOULD GO UP TO RM2.00 IF IJMPLANT IS WORTH RM3.10, Calvin Tan Research

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2021-07-22-story-h1568731457-WHY_TSH_RESOURCES_SHOULD_GO_UP_TO_RM2_00_IF_IJMPLANT_IS_WORTH_RM3_10_Ca
20/08/2022 10:48 PM
Yu_and_Mee end show for plantation.
dropped from peak. Now just sit back and watch either flat sideway or more drop. Future has been anticipated clearly. All commodities drop
21/08/2022 4:15 PM
calvintaneng in year 2019 Cpo was Rm1955

now is Rm4093

up by 109%

the recent surge to over Rm7000 was unsustainable

but at Rm4000 All palm oil co making gross profit of 100%

these

pharmaniaga only make 2%

tech only make 4% to 5% or none

steel makes 10% buy got receivables or IOUs

Gloves making 3% or losses

Where else if not palm oil ?
21/08/2022 5:33 PM
calvintaneng Good morning to all this happy Monday

We shall witness excellent results for all palm oil co this exciting week

Expect

VERY GOOD PROFITS

GOOD DIVIDENDS

SPECIAL DIVIDENDS

POSSIBLE FREE BONUS ISSUES

POSSIBLE FREE WARRANTS

SURPRISE TAKEOVER LIKE KLK TOOK OVER IJMPLANT

ALL OF ABOVE
22/08/2022 8:25 AM
calvintaneng To all the fraternity of palm oil share holders

soyoil is over us 65 a lb

we turned bullish on palm oil when soyoil reached Us 30 sen a lb

now Cpo is over Rm4200

22/08/2022 11:25 AM
calvintaneng Cpo cost of production for Inno and Tsh was Rm1500

with increase of wages and fertilizer now Rm1800

At Rm4200 for Cpo the gross profit is Rm2600 or more than 110%

palm oil has the highest profit overall now
22/08/2022 11:27 AM
stockraider To be fair the CPO production cost is actually higher at Rm 1800 to Rm 2200 per ton mah!

But still CPO at attractive price above Rm 4,000 give it a very decent profit loh!
22/08/2022 1:30 PM
calvintaneng yes for some not so efficient ones cost might be Rm2200

but Cpo at Rm4218 now the gross profit is Rm2000

no other industries can come close to even 30% gross profit now
22/08/2022 1:41 PM
calvintaneng Commentary on the prospects
CPO price has fallen sharply since May 2022 following Indonesia’s decision to remove the ban
on palm oil export and market concern over rising palm oil stockpiles. However, it appears to
have stabilise in recent times and is currently hovering at around RM4,000+ per MT. It is
anticipated that the CPO price will remain supported at current levels on the back of supply
concerns arising from the prolonged Russia-Ukraine conflict and softer production outlook for
soybean due to the return of La Nina in late 2022 and early 2023. Barring any unforeseen
circumstances, the Group is optimistic of achieving satisfactory performance for year 2022.
The Board also remains optimistic on the long term prospect of the palm oil industry.
Restrained hectarage growth in oil palm planting over the last few years due to RSPO
regulations and Indonesian Government’s moratorium on deforestation will have an impact over
the global palm oil supply. Global population and per capita income growth as well as the many
health qualities of palm oil are expected to drive greater demand for palm products. This augurs
well for the Group as palm products segment will remain the core contributor to the Group
profit.
22/08/2022 7:06 PM


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