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Sri Trang Agro
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SRI TRANG GLOVES, A NEW BEGINNING ON 10 MAY 2021
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natas12345
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10-Nov-2021 10:58
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Joelton vs limjosesph... copy n paste competition :D | ||
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whocare1981
Member |
09-Nov-2021 20:49
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https://youtu.be/J2qXR53j2j0 Sritrang gloves result review |
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Joelton
Supreme |
09-Nov-2021 09:43
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Sri Trang Agro: 3Q Net profit rise by 55 per cent to 3.23 billion baht (S$132.1 million) for the quarter ended Sep 30, 2021 with interim dividend of THB 1.25 per share
Earnings per share rose to 0.021 baht from 0.0136 baht a yaer ago. Revenue rose by 72.7 per cent year-on-year to 28.49 billion baht over the same period.
In 3Q21, we had THB 28,486.1 million in total revenue, growing 72.7% YoY but decreasing 4.4% QoQ. Revenue from NR business, which accounted for 62.0% of total revenue, was THB 17,665.6 million, growing 110.3% YoY on the back of higher ASP and sales volume as well as increased market
share.
Revenue from NR products also increased 5.3% QoQ as our ASP was higher than NR prices on the global markets. Because of our timely delivery and credibility, we were the first choice among both domestic and overseas customers and our sales volume in 3Q21 was 311,308 tons. For 9M21, our production output accounted for 33% of Thailand&rsquo s total production, up from 27% in 9M20. Because of a pickup in NR demand and improved competitiveness, gross profit margin for NR products reached a record of 13.6%.
Thanks to the robust consumption, revenue from gloves business accounted for 37.9% of total revenue and totaled THB 10,801.3, growing 33.6% YoY on the back of the ASP that increased 34.1% YoY. However,
the revenue decreased 16.8% QoQ because of the lower ASP QoQ. Sales volume improved to 7,051 million pieces as production fully resumed at our Surat Thani and Trang plants following a temporary suspension because of COVID infections in 2Q21. As a result, gross profit margin for gloves was 53.2%, which still ranked among the highest in the industry.
We recorded a net profit of THB 3,230.8 million or THB 2.10 per share in 3Q21, with a gross profit margin of 28.6% and a net profit margin of 11.3%. Our Board of Directors has approved an interim dividend of THB 1.25 per share and the ex-dividend date will be 18-22 November 2021.
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Tigerzbeer
Member |
08-Nov-2021 23:56
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Bigger volume offset lower ASP of gloves. Also hemp starts growing, expect new revenue stream coming soon 
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nott1965
Veteran |
08-Nov-2021 22:25
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NR business looks good and will be compensating for lower ASP for gloves | ||
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nott1965
Veteran |
08-Nov-2021 22:23
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What an unexpected good result! Dividend for this year 10%! Managment is generous with good business planning ahead. Forsee heading back to $2 soon! | ||
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spursfan
Supreme |
08-Nov-2021 22:05
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Financial Statements and Related Announcement::Third Quarter Results... https://links.sgx.com/1.0.0/corporate-announcements/TT7XJERAXB4VTMIF/689859_STA%20MDA_3Q21_EN%20Online.pdf | ||
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tritonyeah666
Elite |
28-Oct-2021 09:23
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Sri Trang Agro - A new low, shld be the new title for this thread | ||
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Joelton
Supreme |
26-Oct-2021 09:17
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Sri Trang Agro Industry receives go-ahead to grow hemp in Thailand
Sri Trang Agro Industry said that its subsidiary Sri Trang Rubber and Plantation has received a license in Thailand to grow hemp, a form of cannabis.
The license, awarded by the Food and Drug Administration, falls under the so-called narcotics of category 5.
The company is listed in both Thailand and Singapore.
Under terms of the licensing, the hemp grown is only for industrial and commercial purposes and will be sold to an unnamed customer that has an on-going business relationship with Sri Trang.
The hemp will be grown in Amphur Tern of the Lampang province.
According to Sri Trang, it will apply the concept of &ldquo digital traceability&rdquo on all products sold so that the hemp grown can &ldquo stand out in the marketplace and create added value to the hemp plantation as well as to develop longstanding relationship&rdquo with its customers.
Sri Trang expects to harvest crops from the experimental plot in early 2022.
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WBdisciple
Elite |
26-Oct-2021 07:28
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Sri Trang Agro Industry receives go-ahead to grow hemp in Thailand Sri Trang Agro Industry said that its subsidiary Sri Trang Rubber and Plantation has received a license in Thailand to grow hemp, a form of cannabis. The license, awarded by the Food and Drug Administration, falls under the so-called narcotics of category 5. The company is listed in both Thailand and Singapore. Under terms of the licensing, the hemp grown is only for industrial and commercial purposes and will be sold to an unnamed customer that has an on-going business relationship with Sri Trang. The hemp will be grown in Amphur Tern of the Lampang province. According to Sri Trang, it will apply the concept of &ldquo digital traceability&rdquo on all products sold so that the hemp grown can &ldquo stand out in the marketplace and create added value to the hemp plantation as well as to develop longstanding relationship&rdquo with its customers. Sri Trang expects to harvest crops from the experimental plot in early 2022. |
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nott1965
Veteran |
25-Oct-2021 20:26
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Received licence to grow hemp. Cheong soon! | ||
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tritonyeah666
Elite |
02-Oct-2021 11:32
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yawn...one word | ||
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limjoeseph
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01-Sep-2021 09:59
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SINGAPORE - Sri Trang Gloves Thailand (STGT), one of the world's top rubber glove makers, said it has opened an office in Singapore to help with plans to boost its production capacity and increase focus on research and innovation.
Its Singapore subsidiary - Sri Trang Gloves Singapore - will oversee the distribution of latex gloves to international markets and have direct oversight of the group's research and development, as well as product innovation, STGT said in a statement on Monday (Aug 30). The new office will push forward its ambitions for regional expansion, aimed at increased marketing activities, sales and production capacities in the Asean region, with plans to set up branch offices in Vietnam, Indonesia and the Philippines. STGT chief executive Jarinya Jirojkul said global demand for latex and nitrile gloves has been rising rapidly during the Covid-19 pandemic, and the trend is expected to continue in the years ahead. To meet the growing demand, she said the company plans to increase STGT's production capacity by more than 186 per cent over the next five years, scaling up its glove production from about 35 billion pieces per year presently to more than 100 billion pieces a year by 2026. Global demand for gloves is expected to reach 500 billion this year, well ahead of the estimated supply of 420 billion pieces, according to estimates by the Malaysian Rubber Gloves Manufacturers Association. Even as glove makers rush to close the gap, the supply shortage could persist until 2023 in view of the ongoing pandemic, said the association. Ms Jarinya said in June that STGT had set aside 44 billion baht (S$1.8 billion) to raise its production and improve efficiency, and expects the company's annual glove production capacity to rise to 50 billion pieces next year. In the statement on Monday, the CEO said STGT, which also has a presence in the United States and China, sees the Asean region as a high-growth market. "Over the longer term, Asean presents significant potential as its growth rate still lags consumption rates of European countries," said Ms Jarinya. STGT has a primary listing on the Stock Exchange of Thailand and is secondary-listed on the Singapore Exchange. Its subsidiary Sri Trang Agro is the world's biggest rubber producer by capacity. |
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limjoeseph
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27-Aug-2021 09:32
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Daily Update on My STA Proprietory Short Term Buying Zone Pivot at 32.42 Bahts ($1.340) and STA closing at 37.50 Bahts ($1.55) on 26th August 2021 is below Neutral Zone of 39.08 Bahts ($1.615) as STA Thai is the Lead Market but 2nd Quarter Rubber Results including Profits from Associates and Joint Ventures of
US$30 million much Better than 1st Quarter Results of US$10 Milllion. Understand 3rd Quarter Results STA will have a Marked to Market Inventory Gain which cannot be realised in 2nd Quarter Results of US$26.20 Million (839.1 Million Bahts) as per SET's Accounting Practice. Had the Marked to Market Inventory Gain been Realised in 2nd Quarters Profits, STA would have enjoyed higher Rubber Profits inclusive of Profits from Associates and Other Joint Venture Contributions of US$56.20 deriving at a Profits of US$186.20 which only Marginally Lower than 1st Quarter Results of US$191.00. But Overall 2nd Quarters STA Results including Gloves Contribution came in at US$160 Million compared to First Quarter Results of US$191 Million (5959 Million Bahts) well below my Expectations of US$194.98 Million (6083 Million Bahts) due to Loss of Gloves Production of 900 million Gloves from Shutting Down of 2 Gloves Factories and Freight Issues Resulting in Delayed Shipment of Gloves beyond shipment month June. STGT 2nd Quarters Profits of US$231 Million (7.28 Billion Bahts) well below 1st Quarter Results of US$322 Million (10,051 Million Bahts) Below my Expectations of US$290 Million (8845 Million Bahts) and Below Market Expectations of Some Analysts. On 26th August 2021, STA's NVDR Foreign Institutions Showing 0.88 Million+ Shares Net Sellers whilst STGT Showing Million 1.61 Shares Net Sellers. For the Month of January 2021 to date STA NVDR Foreign Institutions showing 38.88 Million+ Shares Net Sellers (Shortist's Included 213.54 Million+) and STGT NVDR showing 20.63 Million+ Shares Net Buyers (Shortists Included 105.38 Million+). NVDR STA Foreign Institutions/Local Institutions were Sellers whilst Proprietory Trade/Local Individuals were Buyers (SHORTISTS Included). Short Term to Intermediate Term (Less Volatility): Corrective Downside Possibly Over with Potential Rebounce if STA Price Action can close 2 consecutive days above 42.50 Bahts. Consolidation Range between 36.25 Bahts ($1.500) and 50.50 Bahts ($2.085). Please Note that STA's Price Action can only Reclaim its Short Term/Intermediate UPTREND provided STA can close above 50.50 bahts on 2 consecutive days. Medium (Less Volatility) to Long Term (High Volatility): Underlying Primary Uptrend on Earnings Visibility (Profit Making Company) for the Rest of 2021. Negative Rubber/Gloves News Events or Even Rotation Play Between STA (Selling) and STGT (Buying) can Cause a Correction in the Market at Any Point in Time which Potentially can be Worse than Non Rubber/Gloves News Events like Global Stock Market Drop. Other than that, Profit Taking in a Technically Overbought Market is Healthy to Correct Any Market Excesses but when Market Propels Higher in the Short Term with High Volatility, Correction may Potentially be Deeper than We may Think in the Event of Unsuspecting Servere Driven Negative News. Into every Short Term/Intermediate Term New High, STA may Attract Profit Taking but we must be Realistic that any STA's Price Rise is Never Linear and will be Subjected to Drawdown at Any Point in Time Along Its Upside Short/Intermediate Term Trend. As Always, Due Diligence is Warranted on Judgemental Call to Suit Own Risk Appetite. NB: As Much as I can Tell, Short/Intermediate Term Technicals ABC Pattern is trying to Form its (C) Low but Nobody Knows where is the Technical Low. Whether 36.25 Bahts is the (C) Low of ABC Pattern has yet to be confirmed. I Must Admit that the Further Price Drop in STA from the 42.00 bahts Support Mentioned recently has been Exercerbated by the Drop in Shanghai Rubber Futures Price to Test the Fibonacci 61.80% thereabout at 36.50 Bahts which STA tested a low of 36.25 Bahts on 13th July. STA's price drop to date to Recent Low is also partly being Influenced by the Recent Corrective Fall in Copper Prices as Evident by China's Releasing Copper into the Market by China State Reserve Coupled with Falling Latex Demand Due to M'sian MCO Affecting Gloves Counters As Gloves Production Being Affected Dampening Rubber Sentiment but Recently Rubber Futures Prices have Rebounded from its Recent Low Price Low being Undepinned by Physical Tyre Grade Rubber Demand which has been Quite Strong to Date Resulting in Decent Margin for STA's Rubber Division which is Expected to Continue for this 3rd Quarter July to September Rubber Sales Period. According to Elliott Wave Theory the Wave 4 is Clearly Corrective. Prices may Meander Sideways for an Extended Period which is often Frustrating because of Lack of Progress in the Larger Trend. As per Elliott Wave Theorist's Rule of Thumb, if any Wave Labelling has been Violated, the Chart's Techincian has to Relabel the Price Action to Reflect Realistic Market Direction (Please Note that Elliott Wave Reading is Not Engraved in Stone) as in Any Medium to Long Term Share Counter Outlook, Earnings will Still Hold the Key to STA's Market Direction. At Present Juncture of STGT 36.75 ahts and STA at 37.75 Bahts Closing, STA's Intrinsic Value is 38.61 Bahts which now STA's Price Action is at a Discount to its Intrinsic Value even though STA's EPS of 3.28 Much Higer than STGT's EPS of 2.50. STGT 36.75 Bahts × 2.872 Billion Issued Shares x 0.562% (STGT Earnings Contribution to STA) ÷ 1.536 Billion Issued Shares of STA to Derive at Intrinsic Value of STA at 38.61 Bahts. On Top of STA's Intrinsic Value of 38.61 Bahts, STA Midstream Natural Rubber Assets including 30+ Factories/Plantations/Land are being Valued at "ZERO". I do not View STA's 2nd Released Result that Bad to Warrant Me to Make the Necessary Adjustment to My STA's Portfolio Presently After having Analysed STA's Financial Results Thoroughly. The Mere Mention of HEMP's Project Materialising by Year End 2021 by Few Thai Analysts Could have Fuelled this Slight Rebounce After Checking With STA's Investor's Department Who Confirmed the Project is Moving Along Fine but Yet Much Leg Work Needs to be Done as Mr Market is Normally Forward Looking. Could the Mention of the HEMP's Project by Management be the Catalyst for STA to Stage the Slight Rebounce Few Days Ago When Foreign NVDR Buyers bought 11.58 Million Shares on 11th August which I Shall Leave to Market Participants to Make Their Own Decision Whether This Rebounce Can be Sustained Leading to a Recovery in STA's Short Term Price Action which had Yet to Be Determined by Mr Market. Besides, STA's Price has already Reacted Downwards to the 36.25 Bahts Level before Rebouncing but Its Results is not as Bad as most Analysts may have thought as yet STA 2nd Quarter Result is still Above One or Two Market Analysts' Expectations. Only a US$31 Million down for 2nd Quarters Results compared to 1st Quarter Results but yet a Money Making company with Decent Dividend Payout to Date. From My Priveleged Thai Informant, a Fair Value for STA's Rubber Assets of Minimum 5 Bahts on Top of Its Intrinsic Value, has been Ascribed to STA's Rubber Division. Yet, as a Medium to Long Term Investor, I am the least not Perturbed by any STA's Short Term/Intermediate Term Whipsawing Price Action as I am Invested in a Fundamentally Sound Growth Stock with Potential Decent Dividend Payout for the 3rd Quarter Reporting as STGT specifically Expounded in their 2nd Quarter Results Report that Dividend will be paid out as well by STGT and I believe so as STA will enjoy likewise as it earns 56.2% contributions from STGT. I still view STA will Enjoy Decent Profits and not a Loss Making Company for 3rd Quarter Results Reporting. Idealistically, let's hope all STA's Iron Hand Medium to Long Term Investors Remain Steadfast to their 2 Cs (Conviction and Confidence) on the Improved Earnings Results of STGT on Resumption of their 2 Factories Operations Hit By Covid Spread Shutdown Recently and One Factory's Expansion Coupled with another New Factory Fully Operational by 3rd Quarter and Another One in 4th Quarter to add Extra Gloves Capacity Moving Forward. Recently STGT signed a Gloves Supply Deal with Irwin Texas ahead of its US Explansion Plan inclusive of opening up a Manufacturing Plant producing Chemo- Rated Nitrite Gloves with Annual Production of minimun 2 Billion Gloves in the US. As Always, Due Diligence is Warranted to Suit Risk Appetite on Own Judgemental Call as Own Money, Own Target. |
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limjoeseph
Supreme |
26-Aug-2021 08:47
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Daily Update on My STA Proprietory Short Term Buying Zone Pivot at 32.45 Bahts ($1.324) and STA closing at 38.00 Bahts ($1.55) on 25th August 2021 is below Neutral Zone of 39.10 Bahts ($1.595) as STA Thai is the Lead Market but 2nd Quarter Rubber Results including Profits from Associates and Joint Ventures of
US$30 million much Better than 1st Quarter Results of US$10 Milllion. Understand 3rd Quarter Results STA will have a Marked to Market Inventory Gain which cannot be realised in 2nd Quarter Results of US$26.20 Million (839.1 Million Bahts) as per SET's Accounting Practice. Had the Marked to Market Inventory Gain been Realised in 2nd Quarters Profits, STA would have enjoyed higher Rubber Profits inclusive of Profits from Associates and Other Joint Venture Contributions of US$56.20 deriving at a Profits of US$186.20 which only Marginally Lower than 1st Quarter Results of US$191.00. But Overall 2nd Quarters STA Results including Gloves Contribution came in at US$160 Million compared to First Quarter Results of US$191 Million (5959 Million Bahts) well below my Expectations of US$194.98 Million (6083 Million Bahts) due to Loss of Gloves Production of 900 million Gloves from Shutting Down of 2 Gloves Factories and Freight Issues Resulting in Delayed Shipment of Gloves beyond shipment month June. STGT 2nd Quarters Profits of US$231 Million (7.28 Billion Bahts) well below 1st Quarter Results of US$322 Million (10,051 Million Bahts) Below my Expectations of US$290 Million (8845 Million Bahts) and Below Market Expectations of Some Analysts. On 25th August 2021, STA's NVDR Foreign Institutions Showing 0.79 Million+ Shares Net Sellers whilst STGT Showing Million 0.12 Shares Net Sellers. For the Month of January 2021 to date STA NVDR Foreign Institutions showing 38.00 Million+ Shares Net Sellers (Shortist's Included 212.20 Million+) and STGT NVDR showing 22.24 Million+ Shares Net Buyers (Shortists Included 105.24 Million+). NVDR STA Foreign Institutions/Local Institutions/Proprietory Trade were Sellers whilst Local Individuals were Buyers (SHORTISTS Included). Short Term to Intermediate Term (Less Volatility): Corrective Downside Possibly Over with Potential Rebounce if STA Price Action can close 2 consecutive days above 42.50 Bahts. Consolidation Range between 36.25 Bahts ($1.500) and 50.50 Bahts ($2.095). Please Note that STA's Price Action can only Reclaim its Short Term/Intermediate UPTREND provided STA can close above 50.50 bahts on 2 consecutive days. Medium (Less Volatility) to Long Term (High Volatility): Underlying Primary Uptrend on Earnings Visibility (Profit Making Company) for the Rest of 2021. Negative Rubber/Gloves News Events or Even Rotation Play Between STA (Selling) and STGT (Buying) can Cause a Correction in the Market at Any Point in Time which Potentially can be Worse than Non Rubber/Gloves News Events like Global Stock Market Drop. Other than that, Profit Taking in a Technically Overbought Market is Healthy to Correct Any Market Excesses but when Market Propels Higher in the Short Term with High Volatility, Correction may Potentially be Deeper than We may Think in the Event of Unsuspecting Servere Driven Negative News. Into every Short Term/Intermediate Term New High, STA may Attract Profit Taking but we must be Realistic that any STA's Price Rise is Never Linear and will be Subjected to Drawdown at Any Point in Time Along Its Upside Short/Intermediate Term Trend. As Always, Due Diligence is Warranted on Judgemental Call to Suit Own Risk Appetite. NB: As Much as I can Tell, Short/Intermediate Term Technicals ABC Pattern is trying to Form its (C) Low but Nobody Knows where is the Technical Low. Whether 36.25 Bahts is the (C) Low of ABC Pattern has yet to be confirmed. I Must Admit that the Further Price Drop in STA from the 42.00 bahts Support Mentioned recently has been Exercerbated by the Drop in Shanghai Rubber Futures Price to Test the Fibonacci 61.80% thereabout at 36.50 Bahts which STA tested a low of 36.25 Bahts on 13th July. STA's price drop to date to Recent Low is also partly being Influenced by the Recent Corrective Fall in Copper Prices as Evident by China's Releasing Copper into the Market by China State Reserve Coupled with Falling Latex Demand Due to M'sian MCO Affecting Gloves Counters As Gloves Production Being Affected Dampening Rubber Sentiment but Recently Rubber Futures Prices have Rebounded from its Recent Low Price Low being Undepinned by Physical Tyre Grade Rubber Demand which has been Quite Strong to Date Resulting in Decent Margin for STA's Rubber Division which is Expected to Continue for this 3rd Quarter July to September Rubber Sales Period. According to Elliott Wave Theory the Wave 4 is Clearly Corrective. Prices may Meander Sideways for an Extended Period which is often Frustrating because of Lack of Progress in the Larger Trend. As per Elliott Wave Theorist's Rule of Thumb, if any Wave Labelling has been Violated, the Chart's Techincian has to Relabel the Price Action to Reflect Realistic Market Direction (Please Note that Elliott Wave Reading is Not Engraved in Stone) as in Any Medium to Long Term Share Counter Outlook, Earnings will Still Hold the Key to STA's Market Direction. At Present Juncture of STGT 37.00 Bahts and STA at 38.00 Bahts Closing, STA's Intrinsic Value is 38.88 Bahts which now STA's Price Action is at a Discount to its Intrinsic Value even though STA's EPS of 3.28 Much Higer than STGT's EPS of 2.50. STGT 37.00 Bahts × 2.872 Billion Issued Shares x 0.562% (STGT Earnings Contribution to STA) ÷ 1.536 Billion Issued Shares of STA to Derive at Intrinsic Value of STA at 38.88 Bahts. On Top of STA's Intrinsic Value of 38.88 Bahts, STA Midstream Natural Rubber Assets including 30+ Factories/Plantations/Land are being Valued at "ZERO". I do not View STA's 2nd Released Result that Bad to Warrant Me to Make the Necessary Adjustment to My STA's Portfolio Presently After having Analysed STA's Financial Results Thoroughly. The Mere Mention of HEMP's Project Materialising by Year End 2021 by Few Thai Analysts Could have Fuelled this Slight Rebounce After Checking With STA's Investor's Department Who Confirmed the Project is Moving Along Fine but Yet Much Leg Work Needs to be Done as Mr Market is Normally Forward Looking. Could the Mention of the HEMP's Project by Management be the Catalyst for STA to Stage the Slight Rebounce Few Days Ago When Foreign NVDR Buyers bought 11.58 Million Shares on 11th August which I Shall Leave to Market Participants to Make Their Own Decision Whether This Rebounce Can be Sustained Leading to a Recovery in STA's Short Term Price Action which had Yet to Be Determined by Mr Market. Besides, STA's Price has already Reacted Downwards to the 36.25 Bahts Level before Rebouncing but Its Results is not as Bad as most Analysts may have thought as yet STA 2nd Quarter Result is still Above One or Two Market Analysts' Expectations. Only a US$31 Million down for 2nd Quarters Results compared to 1st Quarter Results but yet a Money Making company with Decent Dividend Payout to Date. From My Priveleged Thai Informant, a Fair Value for STA's Rubber Assets of Minimum 5 Bahts on Top of Its Intrinsic Value, has been Ascribed to STA's Rubber Division. Yet, as a Medium to Long Term Investor, I am the least not Perturbed by any STA's Short Term/Intermediate Term Whipsawing Price Action as I am Invested in a Fundamentally Sound Growth Stock with Potential Decent Dividend Payout for the 3rd Quarter Reporting as STGT specifically Expounded in their 2nd Quarter Results Report that Dividend will be paid out as well by STGT and I believe so as STA will enjoy likewise as it earns 56.2% contributions from STGT. I still view STA will Enjoy Decent Profits and not a Loss Making Company for 3rd Quarter Results Reporting. Idealistically, let's hope all STA's Iron Hand Medium to Long Term Investors Remain Steadfast to their 2 Cs (Conviction and Confidence) on the Improved Earnings Results of STGT on Resumption of their 2 Factories Operations Hit By Covid Spread Shutdown Recently and One Factory's Expansion Coupled with another New Factory Fully Operational by 3rd Quarter and Another One in 4th Quarter to add Extra Gloves Capacity Moving Forward. Recently STGT signed a Gloves Supply Deal with Irwin Texas ahead of its US Explansion Plan inclusive of opening up a Manufacturing Plant producing Chemo- Rated Nitrite Gloves with Annual Production of minimun 2 Billion Gloves in the US. As Always, Due Diligence is Warranted to Suit Risk Appetite on Own Judgemental Call as Own Money, Own Target. |
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limjoeseph
Supreme |
25-Aug-2021 10:45
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Daily Update on My STA Proprietory Short Term Buying Zone Pivot at 32.44 Bahts ($1.323) and STA closing at 38.00 Bahts ($1.55) on 24th August 2021 is below Neutral Zone of 39.09 Bahts ($1.594) as STA Thai is the Lead Market but 2nd Quarter Rubber Results including Profits from Associates and Joint Ventures of
US$30 million much Better than 1st Quarter Results of US$10 Milllion. Understand 3rd Quarter Results STA will have a Marked to Market Inventory Gain which cannot be realised in 2nd Quarter Results of US$26.20 Million (839.1 Million Bahts) as per SET's Accounting Practice. Had the Marked to Market Inventory Gain been Realised in 2nd Quarters Profits, STA would have enjoyed higher Rubber Profits inclusive of Profits from Associates and Other Joint Venture Contributions of US$56.20 deriving at a Profits of US$186.20 which only Marginally Lower than 1st Quarter Results of US$191.00. But Overall 2nd Quarters STA Results including Gloves Contribution came in at US$160 Million compared to First Quarter Results of US$191 Million (5959 Million Bahts) well below my Expectations of US$194.98 Million (6083 Million Bahts) due to Loss of Gloves Production of 900 million Gloves from Shutting Down of 2 Gloves Factories and Freight Issues Resulting in Delayed Shipment of Gloves beyond shipment month June. STGT 2nd Quarters Profits of US$231 Million (7.28 Billion Bahts) well below 1st Quarter Results of US$322 Million (10,051 Million Bahts) Below my Expectations of US$290 Million (8845 Million Bahts) and Below Market Expectations of Some Analysts. On 24th August 2021, STA's NVDR Foreign Institutions Showing 1.91 Million+ Shares Net Buyers whilst STGT Showing Million 1.56 Shares Net Buyers. For the Month of January 2021 to date STA NVDR Foreign Institutions showing 37.21 Million+ Shares Net Sellers (Shortist's Included 209.99Million+) and STGT NVDR showing 22.38 Million+ Shares Net Buyers (Shortists Included 105.23 Million+). NVDR STA Foreign Institutions/Local Institutions/Proprietory Trade were Buyers whilst Local Individuals were Sellers (SHORTISTS Included). Short Term to Intermediate Term (Less Volatility): Corrective Downside Possibly Over with Potential Rebounce if STA Price Action can close 2 consecutive days above 42.50 Bahts. Consolidation Range between 36.25 Bahts ($1.500) and 50.50 Bahts ($2.095). Please Note that STA's Price Action can only Reclaim its Short Term/Intermediate UPTREND provided STA can close above 50.50 bahts on 2 consecutive days. Medium (Less Volatility) to Long Term (High Volatility): Underlying Primary Uptrend on Earnings Visibility (Profit Making Company) for the Rest of 2021. Negative Rubber/Gloves News Events or Even Rotation Play Between STA (Selling) and STGT (Buying) can Cause a Correction in the Market at Any Point in Time which Potentially can be Worse than Non Rubber/Gloves News Events like Global Stock Market Drop. Other than that, Profit Taking in a Technically Overbought Market is Healthy to Correct Any Market Excesses but when Market Propels Higher in the Short Term with High Volatility, Correction may Potentially be Deeper than We may Think in the Event of Unsuspecting Servere Driven Negative News. Into every Short Term/Intermediate Term New High, STA may Attract Profit Taking but we must be Realistic that any STA's Price Rise is Never Linear and will be Subjected to Drawdown at Any Point in Time Along Its Upside Short/Intermediate Term Trend. As Always, Due Diligence is Warranted on Judgemental Call to Suit Own Risk Appetite. NB: As Much as I can Tell, Short/Intermediate Term Technicals ABC Pattern is trying to Form its (C) Low but Nobody Knows where is the Technical Low. Whether 36.25 Bahts is the (C) Low of ABC Pattern has yet to be confirmed. I Must Admit that the Further Price Drop in STA from the 42.00 bahts Support Mentioned recently has been Exercerbated by the Drop in Shanghai Rubber Futures Price to Test the Fibonacci 61.80% thereabout at 36.50 Bahts which STA tested a low of 36.25 Bahts on 13th July. STA's price drop to date to Recent Low is also partly being Influenced by the Recent Corrective Fall in Copper Prices as Evident by China's Releasing Copper into the Market by China State Reserve Coupled with Falling Latex Demand Due to M'sian MCO Affecting Gloves Counters As Gloves Production Being Affected Dampening Rubber Sentiment but Recently Rubber Futures Prices have Rebounded from its Recent Low Price Low being Undepinned by Physical Tyre Grade Rubber Demand which has been Quite Strong to Date Resulting in Decent Margin for STA's Rubber Division which is Expected to Continue for this 3rd Quarter July to September Rubber Sales Period. According to Elliott Wave Theory the Wave 4 is Clearly Corrective. Prices may Meander Sideways for an Extended Period which is often Frustrating because of Lack of Progress in the Larger Trend. As per Elliott Wave Theorist's Rule of Thumb, if any Wave Labelling has been Violated, the Chart's Techincian has to Relabel the Price Action to Reflect Realistic Market Direction (Please Note that Elliott Wave Reading is Not Engraved in Stone) as in Any Medium to Long Term Share Counter Outlook, Earnings will Still Hold the Key to STA's Market Direction. At Present Juncture of STGT 37.00 Bahts and STA at 38.00 Bahts Closing, STA's Intrinsic Value is 38.88 Bahts which now STA's Price Action is at a Discount to its Intrinsic Value even though STA's EPS of 3.28 Much Higer than STGT's EPS of 2.50. STGT 37.00 Bahts × 2.872 Billion Issued Shares x 0.562% (STGT Earnings Contribution to STA) ÷ 1.536 Billion Issued Shares of STA to Derive at Intrinsic Value of STA at 38.88 Bahts. On Top of STA's Intrinsic Value of 38.88 Bahts, STA Midstream Natural Rubber Assets including 30+ Factories/Plantations/Land are being Valued at "ZERO". I do not View STA's 2nd Released Result that Bad to Warrant Me to Make the Necessary Adjustment to My STA's Portfolio Presently After having Analysed STA's Financial Results Thoroughly. The Mere Mention of HEMP's Project Materialising by Year End 2021 by Few Thai Analysts Could have Fuelled this Slight Rebounce After Checking With STA's Investor's Department Who Confirmed the Project is Moving Along Fine but Yet Much Leg Work Needs to be Done as Mr Market is Normally Forward Looking. Could the Mention of the HEMP's Project by Management be the Catalyst for STA to Stage the Slight Rebounce Few Days Ago When Foreign NVDR Buyers bought 11.58 Million Shares on 11th August which I Shall Leave to Market Participants to Make Their Own Decision Whether This Rebounce Can be Sustained Leading to a Recovery in STA's Short Term Price Action which had Yet to Be Determined by Mr Market. Besides, STA's Price has already Reacted Downwards to the 36.25 Bahts Level before Rebouncing but Its Results is not as Bad as most Analysts may have thought as yet STA 2nd Quarter Result is still Above One or Two Market Analysts' Expectations. Only a US$31 Million down for 2nd Quarters Results compared to 1st Quarter Results but yet a Money Making company with Decent Dividend Payout to Date. From My Priveleged Thai Informant, a Fair Value for STA's Rubber Assets of Minimum 5 Bahts on Top of Its Intrinsic Value, has been Ascribed to STA's Rubber Division. Yet, as a Medium to Long Term Investor, I am the least not Perturbed by any STA's Short Term/Intermediate Term Whipsawing Price Action as I am Invested in a Fundamentally Sound Growth Stock with Potential Decent Dividend Payout for the 3rd Quarter Reporting as STGT specifically Expounded in their 2nd Quarter Results Report that Dividend will be paid out as well by STGT and I believe so as STA will enjoy likewise as it earns 56.2% contributions from STGT. I still view STA will Enjoy Decent Profits and not a Loss Making Company for 3rd Quarter Results Reporting. Idealistically, let's hope all STA's Iron Hand Medium to Long Term Investors Remain Steadfast to their 2 Cs (Conviction and Confidence) on the Improved Earnings Results of STGT on Resumption of their 2 Factories Operations Hit By Covid Spread Shutdown Recently and One Factory's Expansion Coupled with another New Factory Fully Operational by 3rd Quarter and Another One in 4th Quarter to add Extra Gloves Capacity Moving Forward. Recently STGT signed a Gloves Supply Deal with Irwin Texas ahead of its US Explansion Plan inclusive of opening up a Manufacturing Plant producing Chemo- Rated Nitrite Gloves with Annual Production of minimun 2 Billion Gloves in the US. As Always, Due Diligence is Warranted to Suit Risk Appetite on Own Judgemental Call as Own Money, Own Target. |
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limjoeseph
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25-Aug-2021 09:08
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Dow Futures up 23 points duringvAsian morning with SNP Futures edging up 2 loints and Nasdaq Futures up 7 points following a broad-based rally on news that U.S. regulators granted full approval for Pfizer-BioNTech?s Covid vaccine.
The Dow Jones Industrial Average rose 30.55 points, or less than 0.1%, to 35,366.26. The S&P 500 added 0.1% to a new closing high of 4,486.23. The Nasdaq Composite gained 0.5% to 15,019.80, also a new closing high. Chinese stocks led the Nasdaq as investors have been getting more clarity on China?s regulatory outlook and buying shares of names that have taken a beating lately. Pinduoduo jumped 22.2% while JD.com rose 14.4%, Tencent Music Entertainment climbed 12.7% and Baidu gained 8.6%. How much could Jackson Hole affect the markets? ?There is follow through on dip buying in Chinese tech after several firms reiterated buys on the stocks, but the jury is still out on whether there?s more pain to come on further government crackdowns in this sector,? said Jamie Cox, managing partner for Harris Financial Group. On Tuesday afternoon, Gary Gensler, chairman of the U.S. Securities and Exchange Commission, said the agency will demand U.S.-traded Chinese companies disclose political and regulatory risks to investors, an extension of recently imposed requirements for firms seeking initial public offerings, according to a Bloomberg report. Corporations could begin including the enhanced disclosures in their annual reports as early as next year, Bloomberg found. Shares of vaccine makers pulled back Tuesday. Pfizer and BioNTech were more than 3% lower. Moderna fell 4.1% and Trillium Therapeutics, which surged about 180% in the prior session on news it would be acquired by Pfizer, closed 0.6% lower on Tuesday. Travel stocks extended their rally from Monday, with several airline and cruise stocks rising Tuesday. Casino operators Las Vegas Sands and Wynn Resorts were also higher by about 7%, after Macau eased travel restrictions with the improvement of the Covid-19 case outlook in China?s Guangdong province, a key visitor source for the gambling capital. ?Markets seem to believe that the latest Covid flare up has peaked, and that?s a good thing,? Cox said. "Even though some airport data suggest traffic is rolling over a bit, any change to the trajectory of the delta variant will have that data rocketing back.? Best Buy shares rose 8.3% after the electronics retailer beat estimates on the top and bottom lines for the second quarter. The second-quarter earnings season is winding down with more than 90% S&P 500 companies having reported results. S&P 500 is poised to grow its earnings by 94.7% year over year, according to Refinitiv. The markets were relatively quiet as investors await the Jackson Hole symposium later this week. Meme stocks surged in the late afternoon, however, with GameStop rallying by 27.5% and AMC jumping 20.3%. Investors are eyeing the Federal Reserve?s annual central banking event in Jackson Hole, Wyo. later this week, focused on whether or not central bankers will detail their plans for tapering monetary stimulus. The Fed has started discussions to pull back its $120 billion a month bond-buying program by the end of this year. The summit will take place virtually on Thursday, and Fed Chairman Jerome Powell will give a speech on Friday. ?The Fed may make a taper announcement in September or November, but it will probably be a slow taper with no commitment over interest rate hikes,? said Edward Moya, senior market analyst at Oanda. |
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limjoeseph
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25-Aug-2021 07:12
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limjoeseph
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24-Aug-2021 20:58
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A GOOD RESD ON THE US STOCK MARKET BY A 3RD PARTY ANALYST:
"The markets were up across the board yesterday with the S&P and Nasdaq making new all-time highs in the process. The main underlying themes that continue to support the market are strong earnings, a robust outlook, an economy that continues to rebound, and a growing jobs market. The increase in virus cases remains a concern. But looking at it from just an economic standpoint, there is so much pent-up economic demand out there, not to mention an unprecedented amount of stimulus money, that we're still looking at full-year GDP growth to come in at the fastest pace in 37 years. The market also cheered the news that Pfizer-BioNTech received full FDA approval for its vaccine. (All of the vaccines so far have been approved for Emergency Use Authorization or EMU for short.) In other news, the Chicago Fed National Activity Index came in at 0.53, up from last month's -0.01 and views for 0.10. The PMI Composite Flash report posted solid readings with the Composite Index at 55.4. That was under the consensus for 59.5. But a print above 50 shows production and output increasing. That was true for the Manufacturing Index at 61.2, and the Services Index at 55.2. And Existing Home Sales came in better than expected at 5.990 million units (annualized), up from last month's 5.860M and views for 5.870M. Today we'll get retail sales via the Redbook report, New Home Sales, and the Richmond Fed Manufacturing Index. Stocks continue to trade at or near their all-time highs. Yesterday's rally created a gap open on both the S&P and the Nasdaq, which could very well be a breakaway gap. If so, that gap should remain unfilled for a bit. And traditional analysis of a breakaway gap suggests we could see the beginning of a significant move up." As always, due diligence is warranted. NB: Yesterday SNP 500 broke through the previous high of 4480 hitting a high of 4489 which looks like a strength begets strength market. This pull back seems to be shallow and market wants to trend higher still towards the 4500 level and above before wanting to stall for a correction of between betwen 5% to 8% corrective drop which is still not forth coming. Few layers of support now located between 4380 and 4430 and breaking below 4380 will probably exacerbate further fall to the 4100 and 4150 major support level which seems very unlikely as the market wants to trend higher as it climbs a Wall of Worries. No matter what, Mr Market is within a SECULAR BULL MARKET and but yet any corrective drop between the 5% to 8% drop will still not derail the SECULAR BULL MARKET. No matter how deep the next corrective drop will be, my Fibonacci 1% extension for a minimum SNP 500 price target of 4600 level before year end can still be achieved. |
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limjoeseph
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24-Aug-2021 20:35
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