Dear Serious Investors
To-night we shall take a deeper look at ThPlant – another misunderstood & mispriced stock of Great Value
A cursory look at ThPlant will show that it has Very High borrowings
Also the negative news that Thplant being sued by Party asking for proceeding of Land sales blocked by EPU (Economic planning unit)
Also the dwindling lack of FFB harvest past few months
All the above were highlighted by naysayers to the fear of naive readers who do not do due diligence
Ok now let Calvin share his happy findings
1) WHY IS THPLANT BEING SUED FOR NOT SELLING ITS PLANTATIONS
See
MATERIAL LITIGATION In the High Court of Malaya at Kuala Lumpur in the Federal Territory of Malaysia (Special Powers Division) Application for Judicial Review No. WA-25-71-03/2021 Tamaco Plantation Sdn. Bhd. (Company No. 45922-D) (“Applicant” or “Tamaco”) and 1. Ketua Pengarah Unit Perancang Ekonomi Di Jabatan Perdana Menteri 2. TH Plantations Berhad (Company No. 12696-M) (“THP” or “the Company”) (both referred as “Respondents”)
| TH PLANTATIONS BERHAD |
| Type | Announcement | |||||||||||||||||||||||||||||||||||||||||||
| Subject | MATERIAL LITIGATION | |||||||||||||||||||||||||||||||||||||||||||
| Description |
In the High Court of Malaya at Kuala Lumpur in the Federal Territory of Malaysia (Special Powers Division)
Application for Judicial Review No. WA-25-71-03/2021
Tamaco Plantation Sdn. Bhd. (Company No. 45922-D) ("Applicant" or "Tamaco") and
1. Ketua Pengarah Unit Perancang Ekonomi Di Jabatan Perdana Menteri
2. TH Plantations Berhad (Company No. 12696-M) ("THP" or "the Company")
(both referred as "Respondents") |
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THP wishes to announce that the Company on 31 March 2021 has been served with a copy of a draft Order from the High Court of Kuala Lumpur granting as follows: Leave to commence Judicial Review proceedings to quash the decision of the Ketua Pengarah Unit Perancang Ekonomi di Jabatan Perdana Menteri (“EPU”) in withdrawing their letter of approval dated 24 November 2020 on 4 December 2020 in relation to the proposed disposal of THP’s entire equity interest in Bumi Suria Ventures Sdn. Bhd. and Maju Warisanmas Sdn. Bhd. to Tamaco pursuant to the Share Purchase Agreement dated 5 December 2019; and
ii. An ad interim stay order in relation to the decision of the EPU in withdrawing their said letter of approval until 12 April 2021, being the date of the hearing of the inter partes application for a further stay of the said decision of the EPU until final disposal of the Judicial Review proceedings. THP and the EPU have been named as Respondents in the Judicial Review proceedings. The Company will make the necessary announcement as and when there are further developments in relation thereto.
This announcement is dated 1 April 2021.
Ok look again Leave to commence Judicial Review proceedings to quash the decision of the Ketua Pengarah Unit Perancang Ekonomi di Jabatan Perdana Menteri (“EPU”) in withdrawing their letter of approval dated 24 November 2020 on 4 December 2020 in relation to the proposed disposal of THP’s entire equity interest in Bumi Suria Ventures Sdn. Bhd. and Maju Warisanmas Sdn. Bhd. to Tamaco pursuant to the Share Purchase Agreement dated 5 December 2019; and It boils down to these 1) ThPlant has approved to sell its assets in Bumi Suria Ventures Sdn. Bhd. and Maju Warisanmas Sdn. Bhd. to Tamaco pursuant to the Share Purchase Agreement dated 5 December 2019; and 2) But Sale was objected by Economic Planning Unit So Tamaco the aggrieved party want this to quash the decision of the Ketua Pengarah Unit Perancang Ekonomi di Jabatan Perdana Menteri (“EPU”) in withdrawing their letter of approval dated 24 November 2020 on 4 December 2020 in relation to the proposed disposal of THP SO FROM HERE WE SEE CLEARLY THAT TAMACO WANTED VERY MUCH TO BUY THOSE LANDS AS PROMISED FOR SALE BY THPLANT BUT WAS THWARTED BY EPU (GOVT) As a result They are going to Court to pursue for the deal Now Why is the deal SO IMPORTANT?
See our Discovery
ThPlant has approved to sell its assets in Bumi Suria Ventures Sdn. Bhd. and Maju Warisanmas Sdn. Bhd. to Tamaco pursuant to the Share Purchase Agreement dated 5 December 2019; and
S & P was done on 5 December 2019 Let’s see from Bursa Announcement for December 2019 And here is the announcement TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS TH PLANTATIONS BERHAD (“THP” OR “THE COMPANY”)- PROPOSED DISPOSALS OF 100% EQUITY INTERESTS IN BUMI SURIA VENTURES SDN BHD AND MAJU WARISANMAS SDN BHD
Ok now we know the Assets are PROPOSED DISPOSALS OF 100% EQUITY INTERESTS IN BUMI SURIA VENTURES SDN BHD AND MAJU WARISANMAS SDN BHD
And the Sale Price is Rm170 Millions
Now what are the Assets of these Two Mentioned? How Big is the Landbanks? For that please go see Th Plant Properties in Annual Report
SARAWAK Bumi Suria Ventures Sdn. Bhd.
Ladang Sungai Arip
Ladang Sungai Karangan
Sibu-Bintulu, Sarawak
Leasehold 2065 and
2066
6,514 Hectares Oil Palm Estate
Book value Rm124,727,000
OK NOW WE GOT THE DETAILS 6,514 hectares with book value Rm124.7 Millions
SO IF SALE GOES THROUGH THE PROFIT WILL BE
RM170,000,000 minus Rm124,727,000
= Rm45,273,000 A PROFIT OF RM45.2 MILLIONS FOR THPLANT
Buy Why oh Why EPU stopped the sale? Is it because Tamaco a non bumi company? Or is the price grossly undervalue? OK let us calculate the price per acre cost To get acre multiply 6,514 hectares by 2.471 = 16,096.094 acres for Rm170 Millions To get cost of per acre 36.2% profit BUT EPU deemed 3.1% of what Naim sold just too cheap? Now let us see how court case will lead to In any case CPO now at sky high prices all Plantation lands all over the world are going up in prices as well from India to Indonesia, From Australia to USA USA? Yes. Even Bill Gates investing in Farmlands See
Rm170,000,000 divides by 16,096.094 = Rm10,561.56 per acre SO TAMACO WANTS TO BUY THPLANT LAND FOR ABOUT RM10.562 Per Acre (Got planted palm oil lands going for only below Rm11K an acre? Of course too cheap! Why? Look again SARAWAK Bumi Suria Ventures Sdn. Bhd.
Ladang Sungai Arip
Ladang Sungai Karangan
Sibu-BINTULU, Sarawak
BINTULU?
This is now a hot area
See Naim sold lands in Bintulu to Sarawak Govt
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