TEXCHEM (8702) : COMPARE & CONTRAST ITS POTENTIAL & NET ASSET VALUE WITH LUXCHEM & SAMCHEM, Calvin Tan Research

Hi guys
Very happy to see SUPERBULL RUN IN GLOVE STOCKS LIKE TOPGLOVE, SUPERMAX, KOSSAN & HARTALEGA
ALL ARE NOW SPEEDING UP EXTRA NEW FACTORIES FOR MORE GLOVE PRODUCTIONS TO MEET INCREASING DEMAND TILL YEAR 2021 & BEYOND
TOPGLOVE ALREADY STATED ITS LATEX GLOVE WILL BE PRESOLD & FULLY BOOKED  TILL 400 DAYS FAR INTO MID 2021
ORDERS ARE STILL PILING IN
SUPERMAX RUSHING TO SET UP 4 NEW GLOVE FACTORIES. RUBBEREX INCREASING PRODUCTION BY A BILLIONS
SRI TRANG GLOVE THAILAND ALSO RUSHING TO BE TOP 3 IN WORLD GLOVE EXPORTS
ALL THESE WILL SPUR DEMAND FOR GLOVE CHEMICALS LIKE NEVER BEFORE
LATEST TO JOIN THE GAME IS TEXCHEM
NOW LET'S SEE THE FIRE POWER OF TEXCHEM BY COMPARING IT WITH LUXCHEM & SAMCHEM

LUXCHEM

SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2020

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2020	31 Mar 2019	31 Mar 2020	31 Mar 2019
		$$'000	$$'000	$$'000	$$'000
1	Revenue	174,481	202,449	174,481	202,449
2	Profit/(loss) before tax	13,066	12,844	13,066	12,844
3	Profit/(loss) for the period	9,042	9,691	9,042	9,691
4	Profit/(loss) attributable to ordinary equity holders of the parent	9,986	9,599	9,986	9,599
5	Basic earnings/(loss) per share (Subunit)	1.11	1.11	1.11	1.11
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.3500		0.3300

Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:
 

Country	Base Unit	Subunit
Malaysia	Ringgit	Sen
United States	Dollar	Cent
United Kingdom	Pound	Pence

LUXCHEM PRICE IS 69 SEN & NAV IS 35 SEN



SAMCHEM

SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2020

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2020	31 Mar 2019	31 Mar 2020	31 Mar 2019
		$$'000	$$'000	$$'000	$$'000
1	Revenue	258,426	259,629	258,426	259,629
2	Profit/(loss) before tax	6,461	7,444	6,461	7,444
3	Profit/(loss) for the period	4,752	5,519	4,752	5,519
4	Profit/(loss) attributable to ordinary equity holders of the parent	4,326	5,246	4,326	5,246
5	Basic earnings/(loss) per share (Subunit)	1.59	1.93	1.59	1.93
6	Proposed/Declared dividend per share (Subunit)	0.00	1.00	0.00	1.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.5900		0.5700

Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:
 

Country	Base Unit	Subunit
Malaysia	Ringgit	Sen
United States	Dollar	Cent
United Kingdom	Pound	Pence

SAMCHEM PRICE IS 70.5 SEN AND NAV IS 59 SEN

TEXCHEM

SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2020

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2020	31 Mar 2019	31 Mar 2020	31 Mar 2019
		$$'000	$$'000	$$'000	$$'000
1	Revenue	251,697	285,840	251,697	285,840
2	Profit/(loss) before tax	-8,049	5,712	-8,049	5,712
3	Profit/(loss) for the period	-8,440	3,284	-8,440	3,284
4	Profit/(loss) attributable to ordinary equity holders of the parent	-6,930	2,424	-6,930	2,424
5	Basic earnings/(loss) per share (Subunit)	-5.75	1.99	-5.75	1.99
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.9067		1.9504

TEXCHEM IS 46.5 SEN WITH NAV OF RM1.90

WAHAHA!

Calvin promoted LUXCHEM when it was 47 sen
See
https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/2020-04-18-story-h1506021194-TOP_REASONS_WHY_LUXCHEM_5143_COULD_BE_THE_SUPERSTOCK_OF_THE_GLOVE_BULL_.jsp
Calvin bought LUXCHEM at 47 sen and SOLD LUXCHEM at 81.5 SEN!
Huhuhu!!
NOW CALVIN IS BULLISH ON TEXCHEM BECAUSE TEXCHEM IS GOING TO MAKE
LATEX RUBBER GLOVE CHEMICALS
NITRILE GLOVE CHEMICALS
FACESHIELD
See https://www.google.com/search?source=univ&tbm=isch&q=texshield+photo&sa=X&ved=2ahUKEwjH7ejB87XqAhUyiOYKHb1pB_gQsAR6BAgFEAE&biw=1373&bih=594
DISTRIBUTE FACE MASKS
HAND SANITIZER

So many companies with just "Noise" of going into healthcare are chased up just on rumour.
FOR TEXCHEM IT HAS BEEN PRODUCING CHEMICALS ALL ALONG
SO CONVERTING ITS 10 HUGE INDUSTRIAL FACTORIES TO MAKE GLOVE CHEMICALS WILL BE A BREEZE
YES! TEXCHEM HAS 10 HUGE FACTORIES COMPARED TO LUXCHEM & SAMCHEM (BOTH WITH LESSER ASSETS AS SHOULN BY ITS NTA
LUXCHEM NTA (NET TANGIBLE ASSET) = 35 SEN
SAMCHEM NTA (NET TANGIBLE ASSET) = 59 SEN
TEXCHEM NTA (NET TANGIBLE ASSET) = RM1.90
EVEN IF BOTH LUXCHEM 35 SEN & SAMCHEM 59 SEN ADD UP THEIR TOTAL NTA IS ONLY 94 SEN (COMBINED)
SO TEXCHEM AT RM1.90 IS 102% MORE THAN BOTH !!! DOUBLE THEIR CAPACITIES!!
TAKE A GOOD LOOK AT TEXCHEM FACTORIES & WAREHOUSES IN PRIME LOCATIONS

1. Texchem Materials Sdn. Bhd...........Freehold ...........2.54 acres. Warehouse..................................Rm5,141,000

acres

No. 6 & 6A, Jalan Tampoi 7/4,

Kawasan Perusahaan Tampoi,

81200 Johor Bahru,

Johor Darul Takzim.

31 years N/A 2 September

1999

 

2. Texchem-Pack (M) Sdn. Bhd................3.96 acres Office & Factory......................................Rm5,554,000

No. 1465, Mukim 11,

Lorong Perusahaan Maju 6,

Fasa 4, Kawasan Perindustrian Perai,

13600 Perai, Penang.

Leasehold

60 years

 

3. Texchem-Pack (PP) Sdn. Bhd.............3.78 acres Office & Factory..... Rm6,343,000

 

Part of Lot 1241, Phase III,

Bayan Lepas Free Industrial Zone,

11900 Penang.

Leasehold

60 years

 

 

4. Texchem-Pack (Johor) Sdn. Bhd...........0.97 acre  Office & Factory.........................Rm.4,182,000

No. 3, Jalan Mutiara 7,

Taman Perindustrian Plentong,

81750 Masai, Johor Darul Takzim.

Freehold October

1998

 

5. Eye Graphic Sdn. Bhd..............................0.27 acre Office & Factory..............Rm889,000

No. 5, Lorong Perusahaan Maju 11,

Taman Perusahaan Pelangi,

13600 Perai, Penang.

Freehold  16 April 1996

 

6. Texchem Life Sciences Sdn. Bhd...........2.1 acres Office & Factory................Rm9,497,000

Lot 3, Jalan P/6,

Kawasan Perindustrian Bangi,

43650 Bandar Baru Bangi,

Selangor Darul Ehsan.

Leasehold

99 years

*7 September

2004

 

7. Texchem-Pack (Thailand) Co., Ltd.......Freehold... 8.56 acres Office & Factory.........Rm14,412,000

234, Moo 2,

Bangpa-in Industrial Estate,

Udomsorayut Road,

Tambol Klong-jig,

Amphur Bangpa-in,

Phranakorn Sri Ayutthaya Province,

13160 Thailand.

 

8. Wilpack Food Services Sdn. Bhd...............1 acre  Office & Factory............Rm918,000

No. 2446, Mk 1,

Solok Perusahaan Satu,

Kawasan Perindustrian Perai,

13600 Perai, Penang.

Leasehold

15 July 1983 

 

9. Plot 78(a), Perai Industrial Park,.............0.19 acre Factory.............................................Rm82,000

Daerah Seberang Perai Tengah,

Penang.

Leasehold

60  years

20

September

2070

7 May 2008

 

 

10. Texchem Corporation Sdn. Bhd..............5.01 acres  Freehold....Office & Warehouse........Rm26,504,000

 

Lot Nos. 808 & 809, Jalan Subang 5,

Taman Perindustrian Subang,

47610 Subang Jaya,

Selangor Darul Ehsan.

Freehold 5.01

acres

Office &

Warehouse

26 years N/A 28 October

2015

26,504

 

SEE ALL THE OFFICES, FACTORIES & WAREHOUSES OF TEXCHEM ARE LOCATED IN PRIME AREAS OF PENANG, SELANGOR SUBANG, JOHOR & THAILAND!!

 

Calvin once visited Texchem fatory in Plentong (Just across the Road is G Residence of GSB

 

ALL THESE ARE NOW CONVERTING FULL FORCE INTO GLOVE CHEMICALS, TEXSHIELD & SANITIZER PRODUCTIONS

 

Since Mr Market is totally ignorant of TEXCHEM Upcoming Brightest Future Ahead (they point to past losses now all over)

 

LET VALUE INVESTORS BUY UP ALL CHEAP TEXCHEM SHARES AT BARGAINS (Only less than 30% TEXCHEM Shares are in Freefloat)

 

Best Regards

 

Calvin Tan Research

Singapore

 

Please buy/sell after doing your own due diligence

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NOW LET'S CALCULATE THE ASSETS OF TEXCHEM

 

TOTAL OF 10 FACTORIES/LANDS/WAREHOUSES = Rm73,522,000

 

(Not icluding Good Will Or Machineries)

 

 

= 61 SEN

 

YESSSS!

 

THE NET ASSETS OF TEXCHEM ALONE IS WORTH 61 SEN

 

Most of them at still stated at Old Book Value.

 

Plus MALAYSIAN GOVT NOW GIVING 10 To 15 YEARS TAX FREE STATUS FOR FOREIGN FDI WILL SPUR DEMAND FOR INDUSTRIAL PROPERTIES (THIS WILL CAUSE ALL TEXCHEM INDUSTRIAL LANDS & WARHOUSES & FACTORIES TO GO UP IN VALUE!!)

 

At 46.5 Sen with SO HIGH NTA OF RM1.90 TEXCHEM IS SELLING AT A WHOPPING 76% DISCOUNT TO NTA

 

THIS IS MORE THAN 30% DISCOUNT FOR MARGIN OF SAFETY REQUIRED BY THE GREAT BENJAMIN GRAHAM

 

SO FROM ALL ANGLES TEXCHEM LOOKS LIKE A GREAT BARGAIN VALUE BUY WITH POTENTIAL!!

https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/2020-07-05-story-h1509766297-TEXCHEM_COMPARE_CONTRAST_ITS_POTENTIAL_NET_ASSET_VALUE_WITH_LUXCHEM_SAM.jsp