Dear Friends of i3 Forum,
Today wiith News of Trump raising Tariff against China USD50 Billions Furniture Exports - Stocks like Latitute, Lihen Hevea & Pohuat have surged.
One stock did not but dropped in stead. That stock is WTK
SO CALVIN IS VERY INTERESTED
Why should Calvin be interested in a Stock that dropped and not chase those that have surged?
Good question
The answers now many
1) At 60 sen with NTA of Rm2.15 WTK is selling at a Huge Discount of 73% Discount to NTA.
This is more than twice the Margin of Safety required by Ben Graham (Note: Calvin follows the Columbia School of Thoughts in Investment. SAFETY FIRST. Then only expect a profit. In other words, "Not to lose money" as propounded by Ben's Best Student called Warren Buffet
See chart
Currency: Malaysian Ringgit (MYR)
SUMMARY OF KEY FINANCIAL INFORMATION
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INDIVIDUAL PERIOD
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CUMULATIVE PERIOD
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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 2018
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31 Mar 2017
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31 Mar 2018
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31 Mar 2017
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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 |
183,229
|
209,516
|
183,229
|
209,516
|
| 2 | Profit/(loss) before tax |
64,348
|
7,534
|
64,348
|
7,534
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| 3 | Profit/(loss) for the period |
63,180
|
-4,276
|
63,180
|
-4,276
|
| 4 | Profit/(loss) attributable to ordinary equity holders of the parent |
63,935
|
-3,580
|
63,935
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-3,580
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| 5 | Basic earnings/(loss) per share (Subunit) |
13.39
|
-0.75
|
13.39
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-0.75
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| 6 | Proposed/Declared dividend per share (Subunit) |
0.00
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0.00
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0.00
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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 ($$) |
2.1500
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2.0200
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2) ASSETS OF WTK ARE OF REAL VALUE. SOME OF IMMENSE VALUE
WTK Assets are Rock Solid.
2 ASSETS IN SINGAPORE PIQUED MY INTEREST ESPECIALLY AS I LIVE IN SINGAPORE
No. 86 * Tagore Lane Industrial Estate 11,354 sq.ft. Freehold
Land with office & warehouse 30 September 1983 ( 34 years) Rm4,080,000
A search in Singapore Propertyguru reveals 9 factories for sale in Tagore Lane
Of the 9 this is the biggest in land scarce Singapore
See
It is 4,176 sq ft with asking price of S$2,980,000 or S$713.60
Current Conversion Rate from Sg to Rm is S$1.00 to Rm2.97
So S$2,980,000 x 2.97 = That's Rm8,850,600
Now Look At WTK assets again
It is 11,354 sq ft Book Value is only Rm4,080,000
Now this was 34 year ago prices when WTK bought this factory?
What is the exact Value Now
So
11,354 x 713.60 x 2.97 = Rm24,063,576
So WTK Assets in Singapore Current Value is 6 X more
That is the IMMENSE HIDDEN VALUE OF WTK ASSETS
What about Its Business?
3) WTK IS MORE TIMBER THAN PALM OIL
SO THE CURRENT FURNITURE CRAZE WILL ALSIO LIFT UP WTK IN A MATTER OF TIME
FURNITURE COMES FROM TIMBER OR LOGS. OF WHICH WTK HAS MANY MANY & MANY MORE
ONE OF THE LARGEST TIMBER PLAYER IN SARAWAK
4) ANOTHER GOOD NEWS IS SARAWAK GOVT FOLLOWS SABAH TO BAN NEW LOGGING LICENSES FOR LOG EXTRACTS
THIS IS VERY GOOD FOR WTK PLYWOOD INDUSTRY JUST LIKE WHAT SABAH DID FOR EKSONS
S’wak govt to stop issuing new timber licenses – CM
The Sarawak government will continue to stop the issuance of new timber licences in all out efforts to protect and retain the remaining indigenous virgin jungle in the state.
Chief Minister Datuk Patinggi Abang Johari Tun Openg stressed that the
vast tracts of the forest have already been logged and it was very
difficult to restore them.
“Worse still is the stripping of the forests of all their vegetation by
plywood factories operating deep in the forests, ostensibly to clear
the land for the planting of oil palm,” he told the august House in his
winding up speech at the State Assembly Sitting today
“As such, therefore, there will be no more new palm oil plantation
licences except for NCR (Native Customary Rights) land,” he pointed out.
The state government, he added, will continue to fight illegal logging.
“Not only are they just stealing timber in areas which are not licensed
to them, but they are also intruding into forest reserve areas,” he
said.
“If unchecked, we may have no more forest reserves of any kind, fully
protected or otherwise. We must protect our protected forests if we want
to retain any of our indigenous virgin jungle,” he added
WTK HAS BEEN GIVEN SOLE RIGHTS FOR MANY TIMBER CONCESSIONS. IT IS ALMOST A MONOPOLY WITH TAANN & IN SMALL MEASURE JTIASA
CALVIN FIRST CALLED FOR A BUY ON WTK (WAH TELAH KAYA) AT ABOVE RM1.10
PRICE HAS NOW FALLEN BY A HUGE 45% DISCOUNT
ITS LOSSES FROM OIL & GAS MISADVENTURE NOW OVER
JUST LIKE CALVIN ISSUED BUY CALL ON MEDIA AT RM1.00
THEN CALVIN ISSUED EVEN STRONGER BUY CALL ON MEDIA AT 28 SEN (NOW ALMOST REBOUNDED TO 60 SEN UP BY MORE THAN 100% FRIOM ITS LOWS)
Please buy/sell after doing your own due diligence
WARM REGARDS
Calvin Tan Research
Singapore
http://klse.i3investor.com/blogs/www.eaglevisioninvest.com/166591.jsp
