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Bungee Jump!
edchai ( Date: 28-Feb-2013 22:35) Posted:
| What will happen to this stock tomorrow? |
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What will happen to this stock tomorrow?
Golden Agri quarterly profit plunged 93% as palm prices dropped
Golden Agri-Resources, the world’s second-biggest palm oil producer, said fourth-quarter profit declined 93% as prices of the commodity declined.Net income was US$53.6 million ($66.2 million) in the three months ended Dec. 31, from US$747.8 million a year earlier, the Singapore-based company said today in a statement. Revenue in the quarter gained 14% to $1.519 billion.
Golden Agri follows rival producers Sime Darby and Felda Global Ventures Holdings in reporting lower profits after palm oil prices fell 23% last year as inventories piled up and demand weakened. Palm oil, used in food and fuels, will probably drop further this year after Asian producers boosted acreage and global oilseeds supplies rose, according to Dorab Mistry, a director at Godrej International.
The company “is of the view that palm oil industry remains resilient with its robust fundamentals as demand for palm oil will continue to grow,” Chief Executive Officer Franky Widjaja said today in a statement. “Our focus for this year is to carry on with our expansion, organically and by way of acquisition.”
Shares gained 2.4% to close at 65 cents in Singapore today. The announcement was made after trading hours. The stock is unchanged this year, under-performing the 4% gain in the benchmark Straits Times index.
today's closing got big buy order of 20,000,000 at day high of 65cents. what happened?
are the results considered good?
I estimate that golden agri. the profit should reduce at least 14% minimum.
kingkongdotcom ( Date: 28-Feb-2013 11:58) Posted:
So far palm related counters only Bumi perform on the earning release.Lower CPO price has knock down counters one by one. Hope GAR have good result. |
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So far palm related counters only Bumi perform on the earning release.Lower CPO price has knock down counters one by one. Hope GAR have good result.
SOLD @ 65.
Planters may underperform regional indices this year with
CPO prices expected to remain subdued. Our analyst has cut
CY13F-14F CPO prices by 10-11%. We no longer see
significant rebound in CPO prices this year, given huge
inventory carryover from last year. Soybean oil price premium
hence may not narrow as fast as we previously expected.
4QCY12 earnings are expected to drop 1-34% except for
Bumitama Agri and Wilmar. Switch to First Resources (raised to
BUY from hold, TP: S$2.16) for exposure. We believe YTD
selldown has been overdone and expect near term arbitrage
opportunity. Bumitama Agri is cut to HOLD, target price
reduced to S$1.20 from S$1.25. Though Bumitama is still the
best of the bunch, share price has performed well. Wait for
better entry point.
Crude Palm Oil Ends Down as Malaysia Sets 4.5% CPO Export Tax
Malaysia announcing it will raise export taxes on crude palm-oil shipments in March sent futures on Malaysia’s derivatives exchange lower Friday.
The benchmark April contract at Bursa Malaysia Derivatives ended 0.4% lower at 2,486 ringgit a metric ton after moving in a MYR2,476-MYR2,521/ton range.
In a circular issued Friday the government said it will set CPO export duties at 4.5% in March after two consecutive months of no duties that boosted crude shipments from Malaysia and helped to ease stockpiles.
Data from cargo surveyor Intertek Agri Services showed that crude shipments have doubled in the first 15 days of February to 229,610 tons as a result of an export-tax advantage Malaysian exporters had over top producer Indonesia. Overall Feb. 1-15 shipments rose 18% from the previous month to 673,555 tons, Intertek said. Another surveyor, SGS (Malaysia) Bhd., pegged shipments for the period at 649,045 tons–up 14%.
Indonesia set February CPO duties at 9% from 7.5% previously.
" CPO exports in March are likely to be much lower due to the 4.5% tax rate and Indian importers have bought quite a fair bit in January. Palm oil port stocks at Indian ports are also filing up–so we expect buying to slow down soon," said Chandran Sinnasamy, head trader at Kuala Lumpur-based LT International.
Palm oil's bearish technical cues and improving crop weather in parts of Argentina and Brazil added to the weaker tone in palm oil. Palm oil is a direct substitute of soy oil.
" Palm oil values have traded in the MYR2,217-MYR2,615/ton range the past four months and bullish traders failed to take prices past MYR2,615/ton for the technical landscape to turn convincingly bullish. Therefore, I believe prices are poised to ease back to MYR2,400/ton in the short term," Mr. Sinnasamy said.
In the cash market refined palm olein for February was offered at $850/ton while cash CPO for prompt shipment was offered at MYR2440/ton.
Open interest on the BMD was 170,163 lots versus 174,821 lots Thursday. One lot is equivalent to 25 tons.
A total of 28,733 lots of CPO were traded versus 20,263 lots Thursday.
Regional Plantation: Inventory level down marginally to 2.58m tonnes. Expect larger drawdown in inventory in Feb 13 on low production and higher exports.
Inventory level drops marginally to 2.58m tonnes. Inventory level dropped 1.9% mom but grew 27.7% yoy due to CPO production dropping by 10% mom as it was the commencement of the low production season. This is slightly above our expectation of 2.5m tonnes and at the higher end of market expectation. Nevertheless, as compared with the previous year, CPO production was up 24.4% yoy due to the strong yield recovery from the water stress in 1H12.
Exports to remain strong. Exports continue to be good at 1.62m tonnes (-1.6% mom, +17.1% yoy) in Jan 13 with strong imports by Pakistan and the US with 14.4% mom and 16.4% mom respectively. We expect exports to increase in the coming months as the winter season comes to an end. According to Societe Generale de Surveillance, palm oil exports increased by 25% mom to 429,070 tonnes during 1-10 Feb 13 with growth mainly coming from EU (+137.1% mom), the US (+33.2% mom), India (+21.4% mom) and China (+20.9% mom).
Maintain UNDERWEIGHT. Plantation stocks are expected to underperform the market when CPO price trades sideways. SELL IOI Corporation (IOI MK/SELL/Target: RM4.45), Golden Agri-Resources (GGR SP/SELL/Target: S$0.62), Genting Plantation (GENP MK/SELL/Target: RM6.60) and IJM Plantation (IJMP MK/SELL/Target: RM2.40).
UOB Kay Hian
VEGOILS-Palm up on export data investors wait for tax decision
* Malaysia's Feb 1-15 palm oil exports up 18.1 pct -ITS
* Small rise expected in March's crude palm oil export tax
-trader
* Palm oil to hover above 2,493 ringgit -technicals
(Updates prices, adds detail)
By Anuradha Raghu
KUALA LUMPUR, Feb 15 (Reuters) - Malaysian palm oil futures
climbed on Friday on positive export data, with investors
cautious ahead of the weekend and a lack of cues from overseas
markets capping gains.
Prices were still headed for their first weekly loss in five
weeks as investors waited for a government decision to determine
the crude palm oil export tax in March, due later in the day.
The current zero-percent duty has made Malaysia's products
cheaper than top producer and biggest rival Indonesia.
Exports of palm oil products in the first half of February
grew 18 percent from the first half of January to 673,555
tonnes, cargo surveyor data showed, boosted by strong demand
from major edible oil buyers Europe, China and India.
Shipments of the crude grade doubled during the period
compared to the previous month's first two weeks. [PALM/ITS]
By the midday break, the benchmark April contract
on the Bursa Malaysia Derivatives Exchange rose 1.0 percent to
2,521 ringgit ($815) per tonne. Prices were rangebound between
2,503 and 2,521 ringgit.
Total traded volumes stood at 12,050 lots of 25 tonnes each,
slightly lower than the average of 12,500 tonnes.
The export data should hold the market above 2,500 ringgit,
said a trader with a foreign commodities brokerage in Malaysia,
adding that there was a possibility of a small rise in the March
export tax.
" The important thing is whether the tax can create demand,"
he said. " There could be a prompt demand from India and China --
especially from India who buys a lot of crude palm oil."
Technical analysis showed palm oil is expected to hover
above a support at 2,493 ringgit per tonne for one trading
session before breaking this level and falling more.
[ID:nL4N0BF1JH]
Tepid global economic conditions have slowed edible oil
demand and kept stockpiles stubbornly high in Malaysia, the
world's No.2 palm oil producer, with prices tumbling 23.2
percent last year.
A zero-percent duty tax structure introduced by Malaysia in
January provided positive sentiment for investors, but forecasts
of bumper soy crops in Latin America, palm's vegetable oil
competitor, has weighed on the market and kept prices
rangebound.
" For the past few months, high stockpiles and improving
weather conditions in Brazil and Argentina have continued to
weigh on prices," said Phillip Futures analyst Ker Chung Yang in
Singapore. " But on the flip side Malaysia and Indonesia have
aggressively engaged in activities to support exports."
Crude palm oil prices will continue to be rangebound between
2,200 and 2,600 ringgit as investors await further cues, he
said.
Another cargo surveyor, Societe Generale de Surveillance,
was to release its exports data for Feb. 1-15 later in the day.
Brent crude steadied around $118 per barrel, still heading
for its first weekly loss in five after disappointing euro zone
data revived concerns about the troubled region. [O/R]
In competing vegetable oil markets, U.S. soyoil for March
delivery inched down 0.1 percent in early Asian trade.
The Dalian Commodity Exchange is closed for the Lunar New Year
holidays and will resume trading on Monday.
tio trigger again this morning from ChartGenie
Time: 8:58AM
Exchange: SGX
Stock: GoldenAgr(E5H)
Signal: Bullish MACD Centerline Crossover
Last Done: $0.65
sold at 0.65. Wall is very thick at 0.655.
Bumi is in rally but low volume, indo still sleeping
Crude Palm Oil Price
RM2497 ▼ 8 ▼ -0.32%
Triggered again.. now breakout with high volume!! shiok ah! CNY huat ah! gd luck dyodd
Time: 2:33PM
Exchange: SGX
Stock: GoldenAgr(E5H)
Signal: Resistance - Breakout with High Volume
Last Done: $0.655
UOB chart genie also trigger
Time: 1:54PM
Exchange: SGX
Stock: GoldenAgr(E5H)
Signal: Bullish MACD Centerline Crossover
Last Done: $0.655
gd luck dyodd
乌 龟 终 于 要 爬 上 山 了 ！ 祝 大 家 好 运 ！ come plantation come!!!$$$come come come!!! Yacht in???
CHIONG AHHHHHHHHHHHHHH!
65.5..
gd luck dyodd
