Today also not bad. 7millions share in a single transaction (sell down).

This counter is getting more speculative...though bubble not formed yet in my personal opinion.

PER is approx 13, more or less in line with regional peers.

Any particular reason?

Since ALL research house has a BUY rating on the stock, CPO Price climb back steadily, stock to be included in the new index tomorrow etc....the stock is still sttractive at PER <13!

Golden Agri-Resources (GAR) is one of the world’s largest oil palm planters and key producers of CPO, producing over 1.6m tons in FY2007 and 439,977 tons in 1Q 2008. Given that it has the largest mature planted area among its peers, where approximately 67% of its trees are in the prime age (7-18 years) category, GAR is in a very good position to benefit from the current firm CPO prices. With the buoyant outlook for the overall CPO market, we believe that GAR should have no problems in emulating the strong performance that it has shown in its 1QFY08 results. Despite paring our FY08 earnings estimate by 14.5% to reflect higher inflation impact, our fair value improves from S$1.34 to S$1.37 as we raise our valuation parameter from 12.5x to 15x FY08F PER to reflect the improving market sentiment. As this translates to a potential upside of 34%, we retain our BUY rating.