Dear Investors
TAANN is a Hidden Jewel of Great Value
TAANN Means "GREAT PEACE" in Chinese or "TAHAN" Will Last Long time in Malay
And these are the Salient factors
1) TAANN HAS HIGH EPS (EARNINGS PER SHARE)
See
SUMMARY OF KEY FINANCIAL INFORMATION
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INDIVIDUAL PERIOD
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CUMULATIVE PERIOD
|
||||
CURRENT YEAR QUARTER
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PRECEDING YEAR
CORRESPONDING QUARTER |
CURRENT YEAR TO DATE
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PRECEDING YEAR
CORRESPONDING PERIOD |
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31 Mar 2022
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31 Mar 2021
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31 Mar 2022
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31 Mar 2021
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||
$$'000
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$$'000
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$$'000
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$$'000
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||
1 | Revenue |
487,754
|
340,621
|
487,754
|
340,621
|
2 | Profit/(loss) before tax |
114,819
|
47,562
|
114,819
|
47,562
|
3 | Profit/(loss) for the period |
121,134
|
47,833
|
121,134
|
47,833
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4 | Profit/(loss) attributable to ordinary equity holders of the parent |
104,620
|
40,975
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104,620
|
40,975
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5 | Basic earnings/(loss) per share (Subunit) |
23.75
|
9.30
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23.75
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9.30
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6 | Proposed/Declared dividend per share (Subunit) |
10.00
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0.00
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15.00
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0.00
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AS AT END OF CURRENT QUARTER
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AS AT PRECEDING FINANCIAL YEAR END
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||||
7 | Net assets per share attributable to ordinary equity holders of the parent ($$) |
3.8200
|
3.6300
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Latest Qtr shows TAANN earned 23.75 sen
Annualised 23.75 x 4 = 95 sen
At Rm3.94
Let's get P/E by Dividing Rm3.94 by 95 sen
= 4.15
Or Yield 24.1%
24.1% is what Berkshire earned at 25% in good times
Now This Month TAANN should report an even better qtr due to these reasons
i) Taann owns 30% of SwkPlant and in Top Holder. Swkplant FFB (fresh fruit bunches) up 26.9% compared to last qtr. Plus April to June 2022 also saw CPO average at World Record Qtr of Rm6,552
ii) TAANN FFB Also Up by 20%
iii) AND TAANN VENEER PLYWOOD EXPORT TO JAPAN UP IN PRICES BY 60% DUE TO JAPAN BANNING RUSSIAN IMPORT
See
Click on MAX Button to See JAPAN PLYWOOD Full Chart History
Note: Plywood Prices in Japan up 60% (Wood prices in USA dropped by 50%). Don't get confused
TAANN is enjoying a Windfall Boom unknown to many
See further
Japan will ban the import of some Russian timber!
On the morning of April 12, Japanese Minister of economy and industry Guangyi Yoshida said that he would stop importing some timber and other commodities from Russia from the 19th. In fact, affected by the situation in Russia and Ukraine, Japan’s timber prices have risen sharply recently. Will the new import ban exacerbate the situation of low domestic timber volume and high prices in Japan?
Japanese Prime Minister Fumio Kishida recently announced that he would stop importing some Russian timber from this week. However, according to the latest news, the embargo measures will be implemented from the 19th. On the morning of April 12, the competent forestry department of Japan was contacted by telephone. The relevant person in charge said that the scope of the embargo includes three types of processed wood such as veneer.
Single family houses in Japan are generally of wood structure, while Russian wood is commonly used for ceilings, beams and columns. According to statistics, Japan imported about 850000 cubic meters of Russian processed wood last year, accounting for nearly 20% of Japan’s total imported processed wood. After the conflict between Russia and Ukraine, there was widespread concern in the Japanese timber market that Russian timber might be embargoed, and some Japanese businesses snapped up Russian timber. Japanese industry insiders predict that if the import of Russian timber is stopped, an average of 17000 new houses will be affected every month.
In fact, before Japan announced the ban on imports, Russia had first proposed to ban some timber from Japan, which pushed up the price of timber in the Japanese market. The situation in Russia and Ukraine, coupled with the tight supply chain caused by the epidemic, the increase of wood prices has generally more than doubled that of last year. According to Japanese media reports, the rise in timber prices has forced some Japanese people to revise their housing construction plans. When it is difficult to increase the budget, they can only reduce the construction area.
We can EXPECT TAANN To Out Perform this coming month soon
2) TAANN NAV is Rm3.82. Is It?
NO!
Why Not?
ANSWER:
BECAUSE TAANN NET ASSETS ARE STILL LISTED AT ANCIENT PRICES MANY DECADES AGO
Let us Go See TAANN Assets (Refer TAANN Annual Report: Scroll Down to Properties Owned by TAANN
See this Palm Oil Estate in Sarawak
Lot 101, Block 1, Jemoreng Land District Oil Palm Plantation 1,621 acres - 31.12.2020 Leasehold 60 years, expiring in 2079 Land Rm965,673
Ok from above we see
TAANN has 1,621 Acres Oil Palm Plantation in Jemoreng, Sarawak
Leasehold until 2079.
Book Value Rm965,673
To get its cost per acre
Divides Rm965,673 by 1,621 acres
= Rm595 per acre
AMAZING. These prices were long ago more than 40 to 50 years ago
This year 1 Ton FFB (fresh fruit bunch) even crossed Rm1,000 per ton to as high as Rm1,500 per ton.
Currently FFB is around Rm700 to Rm800 per ton
That means that just One Ton FFB could cover 1 acre of Land Purchase Price
SO BY RIGHT TAANN LANDS SHOULD ALSO APPRECITE IN VALUE
CAN WE STILL TAKE TAANN NAV AT RM3.82?
Of course not! There is no such low cost of Palm oil Lands anywhere in Malaysia oe Indonesia
Now look at another Estate in Sarawak
Lot 19, Block 2, Stungkor Land District Oil palm plantation 3,306.8 acres - 10.03.2017 Leasehold 60 years, expiring in 2071 Land Rm893,518
This is 3,306.8 acres & Book Value is Rm893,518
To get Cost per acre
Divides Rm893,518 by 3,306.8 acres
= Rm270 per acre
Amazing indeed!
Where in the world got Palm oil Land sold at Rm270 an acre?
SO CAN WE SAY RM3.82 NAV FOR TAANN IS JUST GROSSLY UNDERVALUE?
IF NOT HOW MUCH SHOULD BE TAANN NET ASSETS WORTH?
We come to the 3rd Which is Most Important
3) DIVIDENDS!
The Ditto
A cow for its Milk
Hen for their eggs
And a share by golly!
For its Dividends
See TAANN DIVIDEND HISTORY
23-May-2022 | 03-Jun-2022 | DIVIDEND | Second Interim Dividend | RM 0.1000 | |
28-Feb-2022 | 15-Mar-2022 | DIVIDEND | First Interim Dividend | RM 0.0500 | |
22-Nov-2021 | 04-Jan-2022 | DIVIDEND | Second Interim Dividend | RM 0.2000 | |
09-Jul-2021 | 26-Jul-2021 | DIVIDEND | First Interim Dividend | RM 0.1000 | |
23-Mar-2021 | 06-Apr-2021 | DIVIDEND | Second Interim Dividend | RM 0.0500 | |
30-Nov-2020 | 29-Dec-2020 | DIVIDEND | First Interim Dividend | RM 0.1000 | |
28-Feb-2020 | 13-Mar-2020 | DIVIDEND | First Interim Dividend | RM 0.0500 | |
23-Nov-2018 | 06-Dec-2018 | DIVIDEND | Second interim dividend | RM 0.05 | |
24-May-2018 | 06-Jun-2018 | DIVIDEND | First Interim Dividend | RM 0.05 | |
22-Aug-2017 | 06-Sep-2017 | DIVIDEND | Second interim dividend | RM 0.05 | |
23-May-2017 | 05-Jun-2017 | DIVIDEND | First Interim Dividend | RM 0.05 | |
21-Nov-2016 | 01-Dec-2016 | DIVIDEND | Second interim dividend | RM 0.05 | |
19-May-2016 | 01-Jun-2016 | DIVIDEND | First Interim Dividend | RM 0.0500 | |
19-May-2016 | 07-Jun-2016 | BONUS_ISSUE | Bonus Issue | 1 : 5 | |
16-Nov-2015 | 01-Dec-2015 | DIVIDEND | Second interim dividend | RM 0.1000 | |
27-May-2015 | 15-Jul-2015 | DIVIDEND | First Interim Dividend | RM 0.1000 | |
25-Nov-2014 | 08-Dec-2014 | DIVIDEND | Second interim dividend | RM 0.1 | |
26-May-2014 | 06-Jun-2014 | DIVIDEND | First Interim Dividend | RM 0.1 | |
25-Nov-2013 | 09-Dec-2013 | DIVIDEND | First Interim Dividend | RM 0.05 | |
26-Feb-2013 | 13-Mar-2013 | DIVIDEND | First Interim Dividend | RM 0.05 | |
24-May-2012 | 14-Jun-2012 | BONUS_ISSUE | Bonus Issue | 1 : 5 | |
29-Feb-2012 | 12-Mar-2012 | DIVIDEND | Second interim dividend | RM 0.1 | |
22-Aug-2011 | 08-Sep-2011 | DIVIDEND | Interim Dividend | RM 0.1 | |
27-May-2011 | 14-Jun-2011 | BONUS_ISSUE | Bonus Issue | 1 : 5 | |
26-Nov-2010 | 20-Dec-2010 | DIVIDEND | Second interim dividend | RM 0.05 |
Except for year 2019 when Cpo crashed below Rm2200 (Now CPO is Rm3,878) TAANN Has been paying good dividends every single year
Last year TAANN announced a 30 sen dividend for the first time in one year.
At Rm3.94 with 30 sen dividend the Yield is 7.6% more than 3X (times Bank FD at 2.25%)
And with Sustained Earnings we can expect TAANN to give "Handsome" Dividends for years to come
Share holders of TAANN can retire in Peace with Such Solid Assets, Good Growth & High Dividends
TAANN Now Rm3.94
Our One Year Target price is Rm6.89 (the highest price achieved in year 2008)
That is about 75% upside
Best & Warmest regards
Calvin Tan
Please buy or sell after doing your own due diligence or consult your remisier/fund manager
Note TAANN INSIDER DIRECTOR BEEN BUYING
His highest purchase was Rm4.90 on 9th June recently
And lowest was Rm3.449 on 19th July
Average is Rm4.90 + Rm3.449
= Rm83.49
Then divides by 2
= Rm4.17 (average of high & low)
So can we say for TAANN anything below Rm4.10 is a Real Bargain not to be Missed?
Don't forget that during past Palm oil bull run years TAANN also rewarded shareholders with "FREE BONUS"
See
19-May-2016 | 07-Jun-2016 | BONUS_ISSUE | Bonus Issue | 1 : 5 | |
16-Nov-2015 | 01-Dec-2015 | DIVIDEND | Second interim dividend | RM 0.1000 | |
27-May-2015 | 15-Jul-2015 | DIVIDEND | First Interim Dividend | RM 0.1000 | |
25-Nov-2014 | 08-Dec-2014 | DIVIDEND | Second interim dividend | RM 0.1 | |
26-May-2014 | 06-Jun-2014 | DIVIDEND | First Interim Dividend | RM 0.1 | |
25-Nov-2013 | 09-Dec-2013 | DIVIDEND | First Interim Dividend | RM 0.05 | |
26-Feb-2013 | 13-Mar-2013 | DIVIDEND | First Interim Dividend | RM 0.05 | |
24-May-2012 | 14-Jun-2012 | BONUS_ISSUE | Bonus Issue |
Created by calvintaneng | Jun 25, 2024
Created by calvintaneng | Jun 20, 2024
another 10 sen dividend from Taann made it 40 sen
10% duvidend a year
Tsh also giving 8 sen dividend
Exdate 7 Dec 2022
2022-11-30 11:48
Latest update on Palm Oil
1) Indonesia now turned B30 into B35
This will take up 13 million tonnes Cpo as biofuel from 11 million tonnes
13 million tonnes out of 48 million tonnes produced by Indonesia yearly is 27%
When B100 is implemented then Biofuel will take up 37 Million tonnes of Cpo or about 77% will be converted to Green Biofuel
Leaving only 23% as Cooking oil & others
This will keep Cpo prices elevated above Rm4000 a ton
In year 2019 Cpo was Rm2200 per ton & cost of Cpo production was Rm1400 a ton
Rm800 profit per ton only enough to cover Bank loans
Little left for dividends
Now Cpo is Rm3900 per ton And Cost of production Rm1800 to Rm2000 per ton
There is huge Profit Margin of Rm1900 per ton
That is why Palm oil companies will be able to pay very good dividends
2023-02-13 23:49
calvintaneng
https://ycharts.com/indicators/japan_import_price_index_wood_lumber_and_related_products
Click on MAXIMUM To see Japan Lumber Price Surged!
2022-08-08 11:51