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Interest picking up!!
sandbox, Happy to hear that you are sitting on good profit! Good Luck!
BullRun,
Its the same for me.. have been holding on to GES for more than a year now and the returns are about 50%. So think your short term and mine are similar.
Looks like GMG not barging to .0105...
cheers.
My short term is the next 12 months! I usually look at a company next 3 to 5 years to make an investment decision, so my short term may be long term to you!!
Hi BullRun,
Your short term meaning?
My short term target is 18c.
BullRun,
What do you think is the fair price?
The Best Is Yet To Come!
oh, UP 15% TODAY!!
Hoping to get in at 0.1.... let's see if chance comes along.
Actions start picking up!1
SMR CV 1003.50 1005.50 276.85 277.40......great price to start 2nd half!!
Ya, HY06 result should be much better than HY05. FY06 will most likely be a record earning for GMG ever since they are listed 7 years ago.
July RM sen/kg
Buyers Sellers US cents/kg
Buyers Sellers
SMR CV 997.50 999.50 274.25 274.80
What a great price to close June!!
With bud-grafted, the rubber trees take less than 5 years. But it is very labour-intensive, alot of rubber plantations had been converted to oil palm plantations. The cutting of the trees and converting to timber (plus curing) for furniture is quite simple, do not need very high tech. But it is running out plantation for procuring rubber woods in Malaysia. Can try Thailand and Indonesia.
From another source......
"The rubber tree may live for a hundred years or even more. But its economic life period in plantations, on general considerations is, only around 32 years ? 7 years of immature phase and 25 years of productive phase."
4% per annum is reasonable. All look good, many questions answered!
4% depr for rubber trees => 25 years life. If this info is found in AR, then the accounts has been audited. Unless the auditors highlighted their concern with 4 %, then I believe we can assume this is standard industry practice.
In the annual report, 4% depreciation for rubber trees in production was what used by GMG. Make sense? Anyone know what other listed rubber plantation in Malaysia using?
Yes, I have a better understanding of rubber industry too. Like what Stockking Senior said, best is to have a copy of the latest audited report.
On the point about Dpn, 17.4 m may still be incorrect. 7.4 could be more likely. Why?
If you look at the balance sheet, the only other non-current asset - is plant, machinery amount to 19.99 in FY04 and 15.6m in FY 05. There is only a reduction of 4.4 m. It doesn't add up to 7.4 m as stated in the P n L and Cash Flow. So, the difference is mostly likely attributed to biological asset. Moreover, Stockking Snr has pointed out the life-span of rubber tree could be more than 30 years.
How the 17.4m is arrived at is shown in the earlier calc. But the figure is unexplained. In between, there is such thing as disposal of assets - the figure on disposal / sale of assets is shown in the P n L. But what is clear in the P n L is that total dpn is only 7.4m.
Anyway, this is not to prove anything. It juz a mental exercise ...... to see how far we are from the truth when we get hold of the audit report ........... btw, dpn is a very subjective matter in the sense that it is up to the Co mgt to decide how many years they want to use ...... That is why for tax purpose, dpn is an disallow item.