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Is correction going to continue today?? If head towards 1.3...can short?
Hey Sporeguy, you are good, really 1.58 now at 4.18pm.
Its heading lower.
DBS has a tp of $2 for First Resources, implying 18.7x FY09 PE, in line with similar-sized pure-play regional peers in Indonesia (FY09F PE of 18.7x) and Malaysian (FY09F PE of 18.7x).
First Resources is an established palm oil player in the Riau province, Indonesia with significant land bank. Well capitalized to undertake aggressive new planting over the next 4 years, they expect FR?s EBITDA CAGR to be 12.7% between 2007 and 2012. FR?s strong CPO volume growth should offset forecast easing CPO prices over the same period except for 2009. FR is currently trading at 15.6x FY09 PE, which is at a 5% discount to its Malaysian pure plays and in line with Indonesian peers. They believe this is unjustified, given FR?s 2007-2012 net profit CAGR of 25.2% ? vis-à-vis Malaysian plantations? 2007-2012 aggregate net profit CAGR of 6.9%.
Given the increasingly difficult task of securing suitable and reasonably priced land to expand, FR?s significant land bank in one fertile region makes it one of the most prized assets in the sector. Presently, FR holds 175,315 hectares of land bank (2007F planted and unplanted) with Rp1.5 trillion cash (projected at the end of 2007) to back its aggressive planting plans.
Hi sharethebest,
Thanks for sharing~! :)
Happy New year~!
Kensonic
You're welcome.
Here's wishing you a very happy & prosperous New Year.
BR
Sharethebest
Sharethebest, Thank you for the info. Highly appreciated.
A Happy Lunar New Year!
Kesonic & Zhen Xian
Feb. 5 (Bloomberg) -- Palm oil surged to a record on speculation supplies for food and alternative fuel will be limited after Indonesia, the world's biggest producer, announced it would raise export taxes if prices climb further.
Indonesia's government, seeking to boost domestic cooking oil supply, said yesterday it would impose a 15 percent tax if palm oil exceeds $1,100 a metric ton, compared with 10 percent below that price. The vegetable oil jumped to a record 3,458 ringgit ($1,070) a ton today.
For your info, bullish for palm oil.
wah this counter rise very fast
High Vol today. I hope it will continue to perform tmr.
Kesonic
No I didn't got mine at super low price, I got Indoagri. Actually can wait & see till afternoon since u got at quite low price, some pple havn't wake up to know the fact that fed cut rate yet. But just advise only, if u are satisfied with ur result can always sell half & hold half to see afternoon pple waking up to the fact of fed cut super fat rate cut. Then if cheong, then no regrets lah.
For those who got it yesterday at low price. Do you think is better to sell in the afternoon?
FR = Flying Rocket... All the best...