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stockraider1
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Posting #21: Wed May 28th, 2008 02:52 |
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Sometime we get too blinded in our firm opinion.
1)Already highlighted receivable has dwindle & company sale virtually in cash
2) Still have meaningful inventory of more than Rm 50m or equivalent to Rm 0.70
3) High cashflow from depreciation equivalent to Rm 0.15 per share p.a. and converting close to equivalent Rm 1.00 per share in fixed assets.
4) Solid cashflow of Rm 0.20 per share per annum of that easily Rm 0.15 p.a come from depreciation, hence this cash flow is maintainable.
5) On balance sheet although there is borrowing but after netting the cash there is still net cash of Rm 0.10 per share.
6) Summing up the value preposition of Cymao in cash basis
a) Cash per share Rm 0.10
b) Fixed Assets of Rm 1.00 convert to cash at Rm 0.15 p.a. Rm 1.00
c) Stocks per share Rm 0.70
Total value Rm 1.80 per share
The overall value of Rm 1.80 is backed by overall timber & plywood recovery !
This give a margin of safety of more than 157 % if we invest at Rm 0.70
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Moolah
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Posting #22: Wed May 28th, 2008 03:10 |
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Being blind is good for some!
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stockraider1
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Posting #23: Wed May 28th, 2008 03:13 |
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On receivable reduction, I m amaze people still arguing against the ability of management to convert it to cash !
In fact I salute them & rate them AAA
In addition the company is virtually selling on cash term, showed how financial savvy & discipline they are !
Making temporary losses is ok, sometime it is unforssen.
The test is how the company tackle this challenges & secure & protect the shareholder value ?
This will separate solid & sustainable turnaround company & the run of the mills company !
Remember Palm Oil sectors the darling today ! also had its day when CPO selling for Rm 750 per tonne in 2001 compare today Rm 3600.
At that time Asiatic is trading at Rm 0.90 & today ? Rm 8.00.
I believe worse is over for timber industry.
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waikiat
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Posting #24: Wed May 28th, 2008 05:41 |
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any news on their logging venture, 1 in our boleh-land kampung & 1 in PNG?
oh ya, is their china plant still shut?
no news is good news?
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Moolah
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Posting #25: Wed May 28th, 2008 09:36 |
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waikiat wrote: any news on their logging venture, 1 in our boleh-land kampung & 1 in PNG?
oh ya, is their china plant still shut?
no news is good news?
wk,
are u asking about cymao?
Last i know was what's written here... http://whereiszemoola.blogspot.com/2007/08/cymao-iii_30.html
Cymao’s immediate plans are to commence logging operations in Sabah once the government gives the go-ahead to commence logging activities. The logging venture in Papua New Guinea is facing some delay due to the local elections
I do not have any interest in following up in this stock. Rather pointless for me and surely there are better opportunity in the stock market than this sector and this stock
[size=rgds]
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waikiat
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Posting #26: Wed May 28th, 2008 10:21 |
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a shit to one is a gem to the other...
maybe stockraider1 sees something others dun... u know? something like left eye see ghost...
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Moolah
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Posting #27: Wed May 28th, 2008 10:31 |
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waikiat wrote: a shit to one is a gem to the other...
maybe stockraider1 sees something others dun... u know? something like left eye see ghost...
LOL!
That's always a possibility wk.
All the best and hope the shit don't remain shit.
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stockraider1
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Posting #28: Wed May 28th, 2008 11:06 |
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Dear Waikit,
On Timber concession Cymao actually going on a low profile & conservative way ie) pay to the agent only upon successful delivery of timber tonnages.
This method will avoid the problem of being conned by the 'local connection'.
Although there is a local partner there are no hefty payout like other timber company. This again shows the business discipline exercise by management
I see there is classic flaws in Moolah analysis (too be seen later), although he feel timber industry & Cymao in particular is a bad investment , but I actually see otherwise !
Please look at the points rationally which I had put up & points raised by Moolah and assess for yourself.
For me, I think Timber industry & Cymao will do well within the next 6 months, in fact recovery prices have just started in May 08.
Let see what happen by DEC 2008.
As for investing in CYMAO, I have no qualms investing at Rm 0.70 per share.
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Moolah
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Posting #29: Wed May 28th, 2008 12:40 |
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I see there is classic flaws in Moolah analysis (too be seen later), although he feel timber industry & Cymao in particular is a bad investment , but I actually see otherwise
Not interested equates to a flaw? Not willing to buy equates to a flaw?
LOL!!!
Ok... i admit readily... I am so truly flawed.
Truly classic!
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Moolah
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Posting #30: Wed May 28th, 2008 12:52 |
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If it truly matters...
Back in Aug 27th 2007.. i made two postings on CYMAO
1. http://whereiszemoola.blogspot.com/2007/08/cymao-ii.html
Note the glaring investing issues posted.
2. http://whereiszemoola.blogspot.com/2007/08/cymao-iii_30.html
Cymao opened that day at 1.14
Price today? Cymao today is at 0.665.
My, yet another CLASSICAL flaw in my analysis ah?
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