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Chin Teck Plantations Bhd 2QFY24 net profit surged seven-fold to RM20.8mn thanks to higher palm oil production as well as lower operating and administrative expenses
Pla take note that, Chintek is a Net Cash company. Cash per share (included investment securities) is ~ RM 5.90 per share. Compared with the current price 7.7, I do think that this is good opportunity to become shareholder of this company at discount.
Over the past decade the market has not always been rational as can been seen from the comparison between the ROE and market price. You can see that in 2018 when the ROE was at its high, the market price continued with its downtrend.
The current ROE is lower than the 2022 peak. While the market price had declined, it has not reached the 2019 lows. https://i.postimg.cc/50NzFvx0/ChinTek.png
From a fundamental perspective, Chin Teck performance lies in between my 2 Bursa plantation references – BPlant and KLK. I would not rate its fundamentals as fantastic.
