Highlights

THE INVESTMENT APPROACH OF CALVIN TAN

Author: calvintaneng   |   Latest post: Tue, 9 Apr 2024, 5:43 AM

 

WHY FGV5222) AT RM1.31 LOOKS VERY UNDERVALUE, Calvin Tan

Author:   |    Publish date:


Dear Friends

FGV was listed in year 2012 with IPO price started trading between Rm4.00 to Rm5.00

 

Let us go back to year 2012 (See Bursa webpage

 

SUMMARY OF KEY FINANCIAL INFORMATION
31/03/2012

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31/03/2012
31/03/2011
31/03/2012
31/03/2011
$$'000
$$'000
$$'000
$$'000
1 Revenue
1,719,997
1,688,481
1,719,997
1,688,481
2 Profit/(loss) before tax
280,806
495,284
280,806
495,284
3 Profit/(loss) for the period
223,212
350,158
223,212
350,158
4 Profit/(loss) attributable to ordinary equity holders of the parent
192,165
359,048
192,165
359,048
5 Basic earnings/(loss) per share (Subunit)
10.90
20.30
10.90
20.30
6 Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00
   
AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7 Net assets per share attributable to ordinary equity holders of the parent ($$)
0.7700
3.1800

10 years ago FGV reported Revenue of Rm1.71 Billions

10.9 sen profit

NAV 77 sen

 

See latest figure

 

SUMMARY OF KEY FINANCIAL INFORMATION
30 Sep 2022

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Sep 2022
30 Sep 2021
30 Sep 2022
30 Sep 2021
$$'000
$$'000
$$'000
$$'000
1 Revenue
6,182,260
5,315,802
19,463,076
13,391,041
2 Profit/(loss) before tax
379,426
507,567
1,451,948
1,022,028
3 Profit/(loss) for the period
216,971
401,038
939,316
751,751
4 Profit/(loss) attributable to ordinary equity holders of the parent
241,671
399,393
984,931
702,789
5 Basic earnings/(loss) per share (Subunit)
6.62
10.95
27.00
19.26
6 Proposed/Declared dividend per share (Subunit)
0.00
0.00
4.00
0.00
   
AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7 Net assets per share attributable to ordinary equity holders of the parent ($$)
1.6400
1.4900

Latest figure shows Revenue is Rm6.18 Billions

Profit 6.62 sen

NAV is Rm1.64

 

While FGV Share price dropped from Rm4.00 to only Rm1.31

 

If you look at previous qtr

See

 

SUMMARY OF KEY FINANCIAL INFORMATION
30 Jun 2022

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Jun 2022
30 Jun 2021
30 Jun 2022
30 Jun 2021
$$'000
$$'000
$$'000
$$'000
1 Revenue
7,427,055
4,681,748
13,280,816
8,075,239
2 Profit/(loss) before tax
572,616
498,702
1,072,522
514,461
3 Profit/(loss) for the period
355,765
364,494
722,345
350,713
4 Profit/(loss) attributable to ordinary equity holders of the parent
374,024
338,817
743,260
303,396
5 Basic earnings/(loss) per share (Subunit)
10.25
9.29
20.73
8.32
6 Proposed/Declared dividend per share (Subunit)
4.00
0.00
4.00
0.00
   
AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7 Net assets per share attributable to ordinary equity holders of the parent ($$)
1.6000
1.4900

 

Previous Qtr Revenue was Rm7.4 Billions (Better than both KLK & Simedarby plant at Rm5 Bil to Rm6 Billions)

Profit 10.25 sen

NAV Rm1.60

 

Above tells us that The Sales Revenue of FGV has gone up manifold

 

Look at FGV dividends

 

 

In year 2012 RGV gave 5.5 sen dividend

This year FGV gave 4 sen & 8 sen = 12 sen

 

At Rm1.31

Dividend yield is 9.1%

 

Now FGV has rented lands from Felda for 99 years with rent of Rm248 Millions

Since FGV Revenue is Rm6 Billions to Rm7 Billions the rent is only about 4%

96% of Revenue after rent lease payment is still a lot

Now FGV has its own lands 1/3 apart from the leasehold lands rent from Felda

And FGV own lands are valued at only Rm3.2K an acre

 

 

Today Palm oil lands are more than Rm50K an acre in Peninsular and more than Rm20K an acre in East Malaysia

 

Above are facts & figures all can please check & verify

 

This is not a buy or sell call

 

Please consult your own remisier/fund manager before buying or selling

 

Kind Regards

Calvin

 

Wishing all at i3 Forum

A BLESSED CHRISTMAS

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Labels: FGV

Related Stocks

Chart Stock Name Last Change Volume 
FGV 1.37 -0.01 (0.72%) 290,300 

  2 people like this.
 
SEE_Research Post removed. Why?
24/12/2022 10:09 PM
SEE_Research Post removed. Why?
24/12/2022 10:12 PM
SEE_Research Post removed. Why?
24/12/2022 10:14 PM
SEE_Research Post removed. Why?
24/12/2022 10:21 PM
SEE_Research Post removed. Why?
24/12/2022 10:26 PM
SEE_Research No one of any research houses from
the securities firms of Malaysia and Singapore
had ever written or issued post that the palm oil stocks of
KLSE ARE IN A SUPER LEAGUE ONE IN A CENTURY ___
NO SUCH POSTS ISSUED OUT.

More so the famed plantation renowned analyst for plantation stocks in ASIA ,
Miss Ivy Ng had not forward such theme as the super duper bull run __ in KLSE .

Miss Ivy Ng credentials are enclosed as follows

Ivy Ng is currently the Head of Malaysia Research and Regional Head of Agribusiness in CGS-CIMB.

She is a CFA charterholder and holds a BSc in Economics from the London School of Economics.

She has been covering the palm oil sector since the mid-90s and expanded her coverage to include the regional palm oil companies since 2005.

She took on the role of Malaysian equity strategist since 2016.

She joined CIMB in 2005 and has been an investment analyst since 1994, with prior stints in Affin-UOB, Peregrine Research, Hwang-DBS Securities and GK Goh Research.


Ivy was ranked number one by Asiamoney polls as the best Malaysian strategist from 2017 to 2020,

best Malaysian industrial analyst for five consecutive years from 2014 to 2018,

best Malaysian utilities analyst in 2007 and 2008 and

best Malaysian plantation analyst from 2019-2020.


best Malaysian plantation analyst from 2019-2020.



best Malaysian plantation analyst from 2019-2020.

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
24/12/2022 10:29 PM
SEE_Research Post removed. Why?
24/12/2022 10:31 PM
SEE_Research Post removed. Why?
24/12/2022 10:34 PM
calvintaneng Truth be Told

We act according to what we believe; not what we pretend to believe

We have never twist & turn in our target thar TSH will rise to Rm2.00 one day so we held on

Only SEE Research who promoted TSH more than 10 times as

T ENACIOUS
S AMSON
H ERCULES

will go to Rm2.00

Suddenly turned & sold all at Rm1.50

Twisted & turned to condemn TSH

See

https://klse.i3investor.com/web/blog/detail/see_research/2021-08-18-story-h1569802823-NOW_SHOWING_THE_TRILOGY_OF_FAST_FURIOUS_SHOWS_PART_15_UPDATED_NUMBER_6_
24/12/2022 10:57 PM
calvintaneng This was posted by SEE Research in IJM Forum )Aug 2021(

SEE_Research

TSH /9059

SEE_RESEARCH

WAIT for strong rally VERY SOON

First target ------ RM 1.30

Mid term target --RM 2.00

2021-08-14 12:32
24/12/2022 11:00 PM
calvintaneng SEE REsearch

TARGET PRCE TSH = RM2.00

https://klse.i3investor.com/web/blog/detail/see_research/2021-08-14-story-h1569741319-NOW_SHOWING_THE_TRILOGY_OF_FAST_FURIOUS_SHOWS_PART_15_1_TOP_PICK_POSITI
24/12/2022 11:06 PM
calvintaneng now showing

https://klse.i3investor.com/web/blog/detail/see_research/2022-03-01-story-h1599353693-NOW_SHOWING_THE_TRILOGY_OF_FAST_FURIOUS_A_NEW_BEGINNING_FOR_THIS_SUPER_
24/12/2022 11:09 PM
calvintaneng CURRENT STRONG MAN OF THE WORLD



https://klse.i3investor.com/web/blog/detail/see_research/2022-02-23-story-h1599235494-SHOWING_THE_TRILOGY_OF_FAST_the_current_strong_man_of_the_world_Is_TSH_
24/12/2022 11:12 PM
calvintaneng DIAMOND JUBILEE 100 YEARS

https://klse.i3investor.com/web/blog/detail/see_research/2022-02-17-story-h1598517529-NOW_SHOWING_THE_TRILOGY_OF_FAST_FURIOUS_Grand_Oil_Palm_Party_Diamond_Ju
24/12/2022 11:15 PM
calvintaneng PLEASE LEARN TO DISCERN WHO IS TELLING THE TRUTH

https://biblehub.com/proverbs/14-15.htm
24/12/2022 11:22 PM
SEE_Research Post removed. Why?
27/12/2022 11:12 AM
SEE_Research Post removed. Why?
27/12/2022 11:21 AM
calvintaneng Snake Research got no financial education

failed his maths

that is why he recommended rubbish like sh chan, HITECH, mytech and Kgb wb
27/12/2022 3:05 PM
SEE_Research Post removed. Why?
28/12/2022 6:25 AM
SEE_Research Post removed. Why?
01/01/2023 11:19 AM
SEE_Research Post removed. Why?
16/01/2023 7:31 PM
SEE_Research Post removed. Why?
18/02/2023 4:22 PM
SEE_Research Post removed. Why?
01/03/2023 2:45 PM


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