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Glove counter with more than 261 pc upside! Post Reply Rate topic
alvinlsm Veteran	19-Aug-2020 09:10        alvinlsm About Contact  Quote this Post!
x 0   x 0  Alert Admin	Today no one is touch this counter . Volume so Low
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Fluffyclouds Master	19-Aug-2020 07:27        Fluffyclouds About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	Debit. Credit. Just a transaction. Dannkh      ( Date: 19-Aug-2020 06:55) Posted: That is very interesting. It means that Sta will only record 50+% of Stgt earnings in 2H, a reduction from 1H. Just to check whether before Stgt ipo, is the glove operation already in existence? As I have limited knowledge of accounting, what are DR dividend & CR investment? 🙏 linguist      ( Date: 18-Aug-2020 22:32) Posted: dividend income payout from STGT will be recognised by STA group IF the calculation on dividend is to be based on 100% earnings. Unless STGT calculate the minority shareholders and pro-rate earnings accordingly to decide what is the dividends to pay.  But unlikely this will happen before Jul, when IPO did not happen.  STA H1 will record 80+% of STGT earnings as that is the shareholding STA has in STGT, not 50+% (this is post-IPO shareholding level).  STA will recognise dividend payment by Dr Dividend Income, Cr Investment in Subsidiary if I am not mistaken.
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Dannkh Master	19-Aug-2020 06:55        Dannkh About Contact  Quote this Post!
x 0   x 0  Alert Admin	That is very interesting. It means that Sta will only record 50+% of Stgt earnings in 2H, a reduction from 1H. Just to check whether before Stgt ipo, is the glove operation already in existence? As I have limited knowledge of accounting, what are DR dividend & CR investment? 🙏 linguist      ( Date: 18-Aug-2020 22:32) Posted: dividend income payout from STGT will be recognised by STA group IF the calculation on dividend is to be based on 100% earnings. Unless STGT calculate the minority shareholders and pro-rate earnings accordingly to decide what is the dividends to pay.  But unlikely this will happen before Jul, when IPO did not happen.  STA H1 will record 80+% of STGT earnings as that is the shareholding STA has in STGT, not 50+% (this is post-IPO shareholding level).  STA will recognise dividend payment by Dr Dividend Income, Cr Investment in Subsidiary if I am not mistaken.  den2328      ( Date: 18-Aug-2020 20:30) Posted: What you described is at legal entity / company level. The STA results are consolidated group basis - total cash will reflect in the balance sheet, dividend income paid to STA holding co will not reflect in P& L because it is paid out of left pocket and paid into right pocket at group level. These can be seen from the statements released 1. conso balance sheet - cash of  16,532,712,753 Baht 2. company balance sheet - cash of  7,192,954,864  Baht  3. conso income statement - dividend income of  1,187,996  Baht  4. company income statement - dividend income of  531,433,871  Baht
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linguist Veteran	18-Aug-2020 22:48        linguist About Contact  Quote this Post!
x 0   x 0  Alert Admin	I felt the only reason is because Thai investors failed to understand the benefits of a diversified revenue by Group, and has also failed to understand that STGT is under STA at 80% shareholding. Else STGT will not have required to undergo IPO (to gain capital investment for expanding) as investor could have just purchased shares of STA to earn the benefits of both STGT & STA earnings.  And being the parent company of STGT, STA can then raise capital by releasing new shares (demand justifiable from increase in share price to reflect great interest from Thai/SG market), or from selling its own existing shares at the higher share price.  Thereafter STA could have injected the capital/funds into STGT to expand its business operation while glove demand is still huge. STA will also has the flexibility to adjust the funding/capital provided to STGT according to market requirement subsequently at post-Covid period, whether to continue with the expanded operations or to shrink it and put the capital at better usage in natural rubber sales, other revenues, or to explore new opportunities...  But now, everything becomes complicated and more " rigid" , because Thai investors failed to understand all of the above, or maybe they understand, but have no confidence with Sri Trang Agro Group (which does not make sense since the group has grown to become the largest natual rubber supplier worldwide, the 3rd largest glove supplier worldwide and largest glove supplier within Thailand).  Robbie36      ( Date: 18-Aug-2020 20:51) Posted: STA owns 56% of STGT (reduced from 73% prior to listing.) The reason that investors prefer ' STGT' is because it is a ' pure glove business' and rubber gloves business is ' sexy' while the ' integrated part' - growing rubber and making latex is thought basic or boring. One reason I prefer STA is the much lower valuation. STA' s 56% holding in STGT is worth Bt35 per STA share (current price Bt27) and the book value of the remains of the business is Bt11/share. The second reason I prefer STA shares is because I like to ' align my interests' with those of the shareholders who control the business. STA owns 56% of SGTG so controls the business. So shareholders of STA own 100% and 56% of STGT. And ask yourself this? If you are STA and you have a choice of making your money through the latex that makes rubber gloves or the rubber gloves (of which you own 56%) where would you choose to take the profit? Through your company or the company you own 56% of? Now I fully understand that the market believes that minority sharholders in subsidiaries shares should trade at a premium - I just happen to disagree. Dannkh      ( Date: 18-Aug-2020 19:46) Posted: My understandings of sta & stgt from a layman point of view are as follows: Sta owns 50+% of stgt. In sta 1H report, its revenue/profit is mainly from the 50+% of stgt., thus reflecting high profit. I suppose that is the correct accounting procedure. Am I right to say that actually, no actual cash from stgt's revenue/profit flow into sta, saved any declared dividend by stgt.? If so, it means that "actual" cash inflows into sta are only from its rubber bussiness & any declared dividends from its subsidiary companies. I am trying to find a reason why sta price cannot fly despite high earning. This could be the reason why investors/institutions prefer stgt than sta. I hope I can put this in a clearer way & hope that someone can enlighten me if my layman perception is incorrect.
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linguist Veteran	18-Aug-2020 22:32        linguist About Contact  Quote this Post!
x 0   x 0  Alert Admin	dividend income payout from STGT will be recognised by STA group IF the calculation on dividend is to be based on 100% earnings. Unless STGT calculate the minority shareholders and pro-rate earnings accordingly to decide what is the dividends to pay.  But unlikely this will happen before Jul, when IPO did not happen.  STA H1 will record 80+% of STGT earnings as that is the shareholding STA has in STGT, not 50+% (this is post-IPO shareholding level).  STA will recognise dividend payment by Dr Dividend Income, Cr Investment in Subsidiary if I am not mistaken.  den2328      ( Date: 18-Aug-2020 20:30) Posted: What you described is at legal entity / company level. The STA results are consolidated group basis - total cash will reflect in the balance sheet, dividend income paid to STA holding co will not reflect in P& L because it is paid out of left pocket and paid into right pocket at group level. These can be seen from the statements released 1. conso balance sheet - cash of  16,532,712,753 Baht 2. company balance sheet - cash of  7,192,954,864  Baht  3. conso income statement - dividend income of  1,187,996  Baht  4. company income statement - dividend income of  531,433,871  Baht  Dannkh      ( Date: 18-Aug-2020 19:46) Posted: My understandings of sta & stgt from a layman point of view are as follows: Sta owns 50+% of stgt. In sta 1H report, its revenue/profit is mainly from the 50+% of stgt., thus reflecting high profit. I suppose that is the correct accounting procedure. Am I right to say that actually, no actual cash from stgt's revenue/profit flow into sta, saved any declared dividend by stgt.? If so, it means that "actual" cash inflows into sta are only from its rubber bussiness & any declared dividends from its subsidiary companies. I am trying to find a reason why sta price cannot fly despite high earning. This could be the reason why investors/institutions prefer stgt than sta. I hope I can put this in a clearer way & hope that someone can enlighten me if my layman perception is incorrect.
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3dw1nchu4 Veteran	18-Aug-2020 22:02        3dw1nchu4 About Contact  Quote this Post!
x 0   x 0  Alert Admin	23+mil Thb if i understand this correctly http://links.sgx.com/1.0.0/corporate-announcements/JIBN0ALAGTZCKPAJ/aa5b988b64d2f9c155cf1196578c81a597dfdc9d786093a16b6272eb4e2f4a62 Dannkh      ( Date: 18-Aug-2020 21:29) Posted: Thanks, Robbie36 & den2328 for your response. My calculation of Sta based on "sum of its parts" is as follows: Based on Stgt current price of 75baht: 35 + 11 = 46 baht or S$2.02.( figures from Robbie36) Based on Stgt ipo price of 32 baht : 15 + 11 = 26 baht or S$1.14. Anyone know what is the actual 1H net income of Sta, dividend + its rubber business?
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Dannkh Master	18-Aug-2020 21:29        Dannkh About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thanks, Robbie36 & den2328 for your response. My calculation of Sta based on "sum of its parts" is as follows: Based on Stgt current price of 75baht: 35 + 11 = 46 baht or S$2.02.( figures from Robbie36) Based on Stgt ipo price of 32 baht : 15 + 11 = 26 baht or S$1.14. Anyone know what is the actual 1H net income of Sta, dividend + its rubber business?
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Robbie36 Member	18-Aug-2020 20:51        Robbie36 About Contact  Quote this Post!
x 0   x 0  Alert Admin	STA owns 56% of STGT (reduced from 73% prior to listing.) The reason that investors prefer ' STGT' is because it is a ' pure glove business' and rubber gloves business is ' sexy' while the ' integrated part' - growing rubber and making latex is thought basic or boring. One reason I prefer STA is the much lower valuation. STA' s 56% holding in STGT is worth Bt35 per STA share (current price Bt27) and the book value of the remains of the business is Bt11/share. The second reason I prefer STA shares is because I like to ' align my interests' with those of the shareholders who control the business. STA owns 56% of SGTG so controls the business. So shareholders of STA own 100% and 56% of STGT. And ask yourself this? If you are STA and you have a choice of making your money through the latex that makes rubber gloves or the rubber gloves (of which you own 56%) where would you choose to take the profit? Through your company or the company you own 56% of? Now I fully understand that the market believes that minority sharholders in subsidiaries shares should trade at a premium - I just happen to disagree. Dannkh      ( Date: 18-Aug-2020 19:46) Posted: My understandings of sta & stgt from a layman point of view are as follows: Sta owns 50+% of stgt. In sta 1H report, its revenue/profit is mainly from the 50+% of stgt., thus reflecting high profit. I suppose that is the correct accounting procedure. Am I right to say that actually, no actual cash from stgt's revenue/profit flow into sta, saved any declared dividend by stgt.? If so, it means that "actual" cash inflows into sta are only from its rubber bussiness & any declared dividends from its subsidiary companies. I am trying to find a reason why sta price cannot fly despite high earning. This could be the reason why investors/institutions prefer stgt than sta. I hope I can put this in a clearer way & hope that someone can enlighten me if my layman perception is incorrect.
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den2328 Senior	18-Aug-2020 20:30        den2328 About Contact  Quote this Post!
x 0   x 0  Alert Admin	What you described is at legal entity / company level. The STA results are consolidated group basis - total cash will reflect in the balance sheet, dividend income paid to STA holding co will not reflect in P& L because it is paid out of left pocket and paid into right pocket at group level. These can be seen from the statements released 1. conso balance sheet - cash of  16,532,712,753 Baht 2. company balance sheet - cash of  7,192,954,864  Baht  3. conso income statement - dividend income of  1,187,996  Baht  4. company income statement - dividend income of  531,433,871  Baht  Dannkh      ( Date: 18-Aug-2020 19:46) Posted: My understandings of sta & stgt from a layman point of view are as follows: Sta owns 50+% of stgt. In sta 1H report, its revenue/profit is mainly from the 50+% of stgt., thus reflecting high profit. I suppose that is the correct accounting procedure. Am I right to say that actually, no actual cash from stgt's revenue/profit flow into sta, saved any declared dividend by stgt.? If so, it means that "actual" cash inflows into sta are only from its rubber bussiness & any declared dividends from its subsidiary companies. I am trying to find a reason why sta price cannot fly despite high earning. This could be the reason why investors/institutions prefer stgt than sta. I hope I can put this in a clearer way & hope that someone can enlighten me if my layman perception is incorrect.
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linguist Veteran	18-Aug-2020 20:21        linguist About Contact  Quote this Post!
x 0   x 0  Alert Admin	Now then release " nicer" presentation of H1 result.  But SGX market and SET market already not in " sync" for the good H1 result liao.  https://links.sgx.com/1.0.0/corporate-announcements/JIBN0ALAGTZCKPAJ/aa5b988b64d2f9c155cf1196578c81a597dfdc9d786093a16b6272eb4e2f4a62
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linguist Veteran	18-Aug-2020 20:18        linguist About Contact  Quote this Post!
x 0   x 0  Alert Admin	Weaker short-selling trades compared to yesterday but still considered quite high volume if compared to last week (the day High & Low price).  No CDP buy in.  55 shares in CDP lending & borrowing pool.   Trade Date   Open Price Day High Day Low Closed Price Change % Volume Value Short Sell Volume BuyBack Volume 2020-08-18   1.230 1.260 1.180 1.240 0.010 0.8 6,898,600 8,465,827 927,200 - 2020-08-17   1.340 1.360 1.220 1.230 0.020 1.7 20,729,200 26,614,642 2,240,300 - 2020-08-14   1.220 1.280 1.190 1.210 0.030 2.5 8,558,700 10,519,698 1,334,000 - 2020-08-13   1.270 1.300 1.170 1.180 -0.100 -7.8 10,964,800 13,459,882 1,022,400 - 2020-08-12   1.290 1.310 1.220 1.280 -0.010 -0.8 5,526,200 7,004,550 22,000 - (Not sure why SgInvestors.io failed to obtain the short-sell trades today. Figure grabbed from report on SGX website) 3dw1nchu4      ( Date: 18-Aug-2020 16:53) Posted: Later this evening check short report and we' ll know what happened
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ghetto Master	18-Aug-2020 20:02        ghetto About Contact  Quote this Post! Style: Combined
x 0   x 0  Alert Admin	https://research.sginvestors.io/2020/08/sri-trang-agro-industry-uob-kay-hian-research-2020-08-17.html
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Dannkh Master	18-Aug-2020 19:46        Dannkh About Contact  Quote this Post!
x 0   x 0  Alert Admin	My understandings of sta & stgt from a layman point of view are as follows: Sta owns 50+% of stgt. In sta 1H report, its revenue/profit is mainly from the 50+% of stgt., thus reflecting high profit. I suppose that is the correct accounting procedure. Am I right to say that actually, no actual cash from stgt's revenue/profit flow into sta, saved any declared dividend by stgt.? If so, it means that "actual" cash inflows into sta are only from its rubber bussiness & any declared dividends from its subsidiary companies. I am trying to find a reason why sta price cannot fly despite high earning. This could be the reason why investors/institutions prefer stgt than sta. I hope I can put this in a clearer way & hope that someone can enlighten me if my layman perception is incorrect.
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3dw1nchu4 Veteran	18-Aug-2020 19:25        3dw1nchu4 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Today shorted avg price 1.22. Wonder whether cover already a not 🤔 Sri Trang Agro 927200 SGD 1138134
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BB-trader Veteran	18-Aug-2020 19:09        BB-trader About Contact  Quote this Post!
x 0   x 0  Alert Admin	thai 27.25 is SG1.19, SG lead thai to fly tomorrow CheongArgh      ( Date: 18-Aug-2020 17:51) Posted: thai STA now 27.50 STGT now 75.00
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Redstar8730 Master	18-Aug-2020 18:47        Redstar8730 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Can STA also give 1 for 1 bonus? Haha
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den2328 Senior	18-Aug-2020 18:46        den2328 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Who knows Sri will be the ugly duckling that eventually turns into a beautiful swan. Let it run at its own pace for now :)
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Gknight Senior	18-Aug-2020 18:30        Gknight About Contact  Quote this Post!
x 0   x 0  Alert Admin	wow buy 1 get 1 free.. tmr buy still can get? guards80      ( Date: 18-Aug-2020 17:50) Posted: Riverstone: 1 For 1 Bonus Issue.
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3dw1nchu4 Veteran	18-Aug-2020 17:55        3dw1nchu4 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Solid. Exited at 4.75. Maybe should get back in soon guards80      ( Date: 18-Aug-2020 17:50) Posted: Riverstone: 1 For 1 Bonus Issue.
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CheongArgh Master	18-Aug-2020 17:51        CheongArgh About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	thai STA now 27.50 STGT now 75.00
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