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ivorycoast, why must indoagri follow china energy closely? ha...
Dont noe why ..... IndoAgri must follow China Energy closely .....
The fellas here are referring to IndoAgri.
Still so much keen interest.
Seems very strong.
Poised to breakout of the $1.40 in the coming days ?
Is IndoFood name change to something else? Because missing price and name delisted...
Technically, resuming uptrend.
Strategically, catch the dip.
Dun noe why ..... used to move together with China Energy under the $1 category .....
This one can catch the dip liao.
Hit $1.40 just only about 10 days ago.
Technically, poised for a breakout above $1.40, after a healthy consolidation.
This counter has no plan for expansion yet. Wilmar can growth faster by its biodiesel and acquisition plan.
Until now this counter has no different as Land Banker. Any Idea?
can this be the start of re-valuation?
It jumped as much as 13.8% to $1.40 on strong volume trade after it completed its purchase of a 60% stake in three Indonesian plantation firms to boost its land bank. The firm, Indonesia's biggest branded cooking oil maker, paid 125 billion rupiahs (US$13.63 million) for the acquisition.
Dealers in Singapore said investors hunting for cheap valuations were also rushing into Indofood's shares.
It completed the Plantation Acquisition. The Plantation Companies and their subsidiaries currently own an aggregate land bank of approximately 85,541 hectares in East and Central Kalimantan and South Sumatra, of which approximately 2,844 hectares have already been planted with oil palm. The Plantation Acquisition is in line with the Group?s plans to increase its planted oil palm area to 250,000 hectares by about 2015 through the acquisition and development of additional plantation land.
good news rolling in once broker starts coverage!
Here it is from DMG & Partners Securities Pte Ltd on
Indofood Agri Resources (IFAR.SI)
>
> Background
> ? IFAR is the palm oil unit of Indonesia's largest instant noodle
> maker.
> ? CityAxis used as vehicle for backdoor listing
> - Consolidation of 10 CityAxis shares into 1 IFAR share. Last traded
> price of CityAxis 33cts. Cost per share of IFAR to CityAxis shareholders
is
> $3.30
>
> Issue statistics
> ? Placement size 338mil shares, placement price $1.25 per share, net
> proceeds $404.4mil, post invitation issue 1354.77mil shares
> ? NAV Post issue $0.63
> ? Price/NAV 1.98X
>
> Growth Plans
> ? Acquire approximately 85,500 hectares of land (currently has 138,500
> hectares of land) Total land bank of 224,000 hectares
> ? Cultivate 70,000 hectares of land into oil palm plantations by 2009
> ? New mill in West Kalimantan with capacity of 45MT FFB/hr by end 2006
> ? Increase annual capacity of refinery, fractionation and margarine
> processing plant in Medan by approximately 120,000 MT, 60,000 MT and
30,000
> MT by 2008. Current capacity 105,000 MT, new capacity 210,000 MT
> ? Replace/relocate current refinery in North Jakarta (annual capacity
> 247,000 MT) with a new 420,000 MT refinery at Jakarta Port by early 2009.
>
> Valuation of Indofood
>
> 1. Using Wilmar as benchmark
> ? Wilmar's closing price on 1st day of trading = $0.935. Equivalent to
> 23.9X 05 earnings
> ? Indofood's annualized FY06 earnings = $101.6mil. Equivalent to 16.6X
> 06 earnings at the issue price
> ? If Indofood performs similar to Wilmar on a PE basis on debut day
> $1.80 for Indofood
>
> 2. Comparison with competitors
> ? PT SMART, PT Unilever and Wilmar
>
> Based on FY06
> |------------+------------+------------+------------+-------------|
> | | *Indofood | Wilmar | PT SMART | PT Unilever |
> | | Agri | | | Indonesia |
> | | Resources | | | |
> |------------+------------+------------+------------+-------------|
> | Revenue | 645.1 | 7543 | 806 | 1654 |
> | (S$mil) | | | | |
> |------------+------------+------------+------------+-------------|
> |Net Profit | 101.6 | 134 | 70.6 | 282.3 |
> |------------+------------+------------+------------+-------------|
> |EPS (cts) | **7.5 | 5.3 | 2.5 | 3.7 |
> |------------+------------+------------+------------+-------------|
> |PE (X) | 16.6 | 48 | 25.3 | 27 |
> |------------+------------+------------+------------+-------------|
> | Price/NAV | 1.98 | 7.8 | 4.26 | 18.7 |
> |------------+------------+------------+------------+-------------|
>
> *Annualized based on 9M06 **Fully diluted post invitation
>
> ? Indofood trades at a discount to peers PT SMART and PT Uniliever on a
> PE and Price/NAV basis.
> ? Wilmar trades at a premium because it is expected to register strong
> growth in FY07 on the back of capacity expansion. Wilmar is currently
> trading at 23.74X 07 earnings.
> ? Average peer PE = 25.3X (includes Wilmar 07) to 26.1X (only PT Smart
> and PT Unilever). A mid-20s PE range is the norm.
> ? Based on average peer PE, Indofood should trade at $1.90 to $1.97.
> This price range has yet to take into account the growth potential of
> Indofood.
> ? Indofood's Price/NAV is the lowest among peers. The closest is PT
> SMART. If Indofood is able to trade at its closest peer valuation of 4.26X
> price/NAV, the theoretical implied price level will be $2.69.
>
> Theoretical price implication compared to Wilmar share price action
> |---------------------------+------------+---------------|
> | Valuation Reference | Wilmar | Indofood |
> | | ($) | ($) |
> |---------------------------+------------+---------------|
> | Placement price | 0.80 | 1.25 |
> |---------------------------+------------+---------------|
> |Debut day close | 0.935 | 1.80 |
> |---------------------------+------------+---------------|
> |Peer's PE | - | 1.97 |
> |---------------------------+------------+---------------|
> | Peer's P/B | - | 2.69 |
> |---------------------------+------------+---------------|
> | Pre-suspension price | 1.10 | 3.30 |
> |---------------------------+------------+---------------|
> | Peak price | 2.89 | 4.50 |
> |---------------------------+------------+---------------|
>
>
It is happening now --lots of action today --mid-day already passed 1.23 -check it out!!
There're talks of a broker issuing a report on the company.
wow...now $1.09...new low every day ..hee...indo earthquake..indo plane crashed(dunno how many times)...seems like Indo associated with bad luck siah....
i think those who bought this before the reverse consolidation is suffering a heavy loss now. They are the stale bulls waiting at the sideline hoping to sell at any rebound.
IMHO wait for maybe few more months first for them to be washed out to "stronger" hand if you want to accumulate!
Will this shares went up again to 1.99 like previously??
Need some advice!!
Amazing!
It climb from yesterday later afternoon low 1.19 to this monrnig 1.29!
Don't know will catch some bargain price at sub 1.20?