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Indofood Agri Resources
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daarrell
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02-May-2008 14:59
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err... so when is this counter going up or down again... seems super stagnant today. stuck at 2.39/2.40... | ||||
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viruz7667
Senior |
01-May-2008 17:44
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Indofood Agri Resources April 30 close: S$2.37 CIMB-GK Research, April 30
Q1 2008 core net profit was above market and our expectations, making up 37 per cent of consensus and our full-year forecasts. The better-than-expected results were due to stronger oil-palm fresh fruit bunch (FFB) production and strong performances from its cooking oil & fats as well as commodities divisions. Plantation earnings surprised with better FFB yields. FFB output from Indofood Agri's estates (excluding London Sumatra) was up 18 per cent y-o-y to 331,000 tonnes on higher FFB yields. This was much higher than our full-year forecast of 3 per cent y-o-y growth. Cooking oil & fats Ebit grew 516 per cent to 77.4 billion rupiah (S$11.4 million), above our full-year estimate of 74 billion rupiah on higher-than-expected sales volume and profit margins, as the group was able to pass on higher raw material costs to consumers. Cooking oil & fats sales volume was up 20 per cent despite a 57 per cent y-o-y increase in selling prices. The strong volume growth could be due to the rapid growth of supermarket chains in Indonesia. Commodities also exceeded expectations with timely purchases of raw materials. This division's Ebit leapt 233 per cent y-o-y to 31.2 billion rupiah, close to making up our full-year profit forecast of 34.4 billion. On top of that, the group reported higher forex gains of 43.2 billion rupiah in Q1 2008 against 16.2 billion rupiah in Q1 2007. We have raised our net profit forecasts by 2-11 per cent for FY2008-10 after accounting for the higher FFB yields in Q1 2008, better earnings contributions from its cooking oil & fats and commodities divisions, as well as recent earnings downgrades of 12-17 per cent to our FY2008-09 EPS estimates for London Sumatra. Our new forecasts assume lower earnings in subsequent quarters due to higher export taxes, operating costs and lower contributions from its commodities and cooking oil & fats divisions. We continue to like the stock for its exposure to rising crude palm oil (CPO) prices and potential to extract cost-savings from London Sumatra through lower transport and administrative expenses. No change to our target price of $3.10, which remains based on 18 times forward PE. The stock offers 30 per cent upside potential to our TP with potential share-price triggers being better-than-expected results, higher CPO prices, and possible mergers and acquisitions. Maintain 'outperform'. OUTPERFORM |
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AK_Francis
Supreme |
30-Apr-2008 23:03
Yells: "Happy go lucky, cheers." |
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Wilma got the top 3 highest capitalisation coy, it STI component stock, CPF eligible. Though Msia based coy but with heavy dealing with PRC, a huge market. Indo Agri, more of local based coy, profitable. Market observation, it goes with tantum with Wilma, but its cheaper lah. Golden Agri, ayah, Indon based coy. Worry lah, so many foreign coy kena telok telok, either what no legal and bra bra, sickening. AK regretted to buy it leow. Today ha, 0.85 ah. Half K gone leow. |
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angelsiah
Member |
30-Apr-2008 11:21
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Considering this counter and wilmar, wonder which one is a gd buy now....haha.... | ||||
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angelsiah
Member |
30-Apr-2008 11:17
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Hi, would like to contra this counter, is it a good time to go in? Still quite high now.... | ||||
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ozone2002
Supreme |
30-Apr-2008 10:02
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personally i don't really like golden agri.. but based on technicals ..indicators are looking on the downside RSI MACD stochastic all turning downwards... palm oil price is down..in line with crude oil falls.. indo may not hold its 2.4 price but i like it cos the Mellon funds are in this..so got some support at least.. tat's my opinion..i love shares with funds invested in em..keke |
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renaeng
Member |
30-Apr-2008 09:39
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Ozone2002, may I have your opinion on GAR and palm oil counters in general? GAR has been down for 2weeks and still going down. I know this is not the right thread but since I dont see your posting in GAR, I tot mayb try here loh (since related ma!). I'm still holding GAR bought at a high. Just wonder if I should cut loss or hold. Thanks in advance. |
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ozone2002
Supreme |
30-Apr-2008 09:13
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put ur stop losses @ a comfortable price in case the price goes down.. if it goes beyond yesterdays high 2.53...there's no turning back! |
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daarrell
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30-Apr-2008 09:09
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so indo price will continue to rise today??? | ||||
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investor38
Senior |
30-Apr-2008 08:41
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Agreed with ozone2002. Indoagri was sold down initially yesterday before it was bought up later in the afternoon despite general market weakness and reduced CPO futures prices. Based on current quarter earnings and yesterday's, P/E ratio is about 10. If earnings is maintained at current levels for the rest of the year and with the average PE of palm oil counters P/E at 15 to 18 expect further upside of share price target by about 50% to 80% over the next 9 months??? Expect share price to cheong today? My opinion. Comments welcome. |
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ozone2002
Supreme |
30-Apr-2008 08:36
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todays strategy sell on news! | ||||
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zhuge_liang
Supreme |
30-Apr-2008 00:46
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The progressive export tax, which is adjusted on a monthly basis by the Indonesian Government to control domestic cooking oil prices have indirectly capped the upside potential for CPO prices. | ||||
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ozone2002
Supreme |
29-Apr-2008 20:27
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KElong la!... the bloody fund must have known about their sterling results tats y they buy.. in cahorts with those indos!.. but i like!...keke..
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freeme
Elite |
29-Apr-2008 17:58
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No wonder suddenly so strong.. not affected by the large CPO drop today..
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ozone2002
Supreme |
29-Apr-2008 17:34
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i know the reason why liao...1st Q'08 results out liao looks damn good..go to SGX-INDOAGRI company announcements to take a look |
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ozone2002
Supreme |
29-Apr-2008 17:14
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if u had followed my entries..i went in below 2.39... so based on today's price.. make abt 10-15c.. just follow the big boys..;p |
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freeme
Elite |
29-Apr-2008 17:09
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wah.. u beri li hai leh.. Whats ur entry price?
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ozone2002
Supreme |
29-Apr-2008 17:02
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cos i buy mah..keke | ||||
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freeme
Elite |
29-Apr-2008 17:00
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CPO drop so much and this counter moving up...??? Why? | ||||
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ozone2002
Supreme |
29-Apr-2008 16:51
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did u see this baby chiong to 2.53!..showtime! | ||||
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