Post Reply
61-80 of 423
Hi All,
Does any 1 have any comments on this stock?invested at $1.10.....
This counter had broken the $1 mark. Potential upside. Waiting for BB to come in to push up the volume...
just found out that DBS has given it a
BUY rating with a target value of $1.15. This is a potential 22%
UPSIDE based on the closing price of $0.94.
The link to the research report is below:
https://www.dbsvresearch.com/research/dbs/research.nsf/(vwAllDocs)/99319EB7270F921248257672000A0B95/$FILE/singdaily161109.pdf
relatively huge volume today. someone might be accumulating !!!
looks like some BBs are accumulating this counter... :D
Cheers :D
just accumulated more at $0.945 :D
well, i believe that palm oil counters are still the ones which will outperform the market with a stabilisation of CPO price. :D hopfully, it will reach my target price in 2 weeks time :D
anybody has something to share??? :D
DMG gave a target price of $1.19 for First Resource
Here is the link:
http://www.remisiers.org/research//201109-DMGMorningInsight.pdf
another point to take note:
From the presentation slides for the Q3 of the 3 counters, i found a surprising thing that First Resource is the only counter among the 3 which has practically NO OLD palm oil trees!!!
From the presentation slides which can be obtained from SGX,
The percentage of OLD palm oil trees only make up a mere 0.4% of the total planted area. This implies that the plantation is comprised mainly of trees which are in the prime stages. This is important in ensuring that the palm fruit production will be optimal.
As for Golden Agri, from the presentation slides, the OLD trees make up 12% of the total planted area. This is much more when compared with First Resource which has a relatively young plantation in the prime stage.
When looking at Indo Agri, the percentage of trees( for plantations of palm oil, rubber, sugar and cocoa) of age 7 to 20 years old make up only 39% of planted area. What's more alarming is that the percentage of trees of age above 20 years old is 21%!!! So the plantations are made up of quite a substantial portion of OLD trees which might not produce much palm fruits.
Comparing these 3 counters data of their plantations profile, First Resource is likely to see much better improvement in its palm oil production as there is almost no OLD tree at all. Most of the trees (50.7% of planted area) are in the prime stage. As the years go by, production will most likely go up annually.
i think this is the best bet among 3 palm oil counters. went through the reports of this counter, indoagri, golden agri.
9 months earnings for First Resources: 436 rupiah
Taking currency conversion at 1 sing dollar to 6822 rupiah at this moment and the last trading price at $0.92,
P/E ratio for 9 months for First Resource is around 14.4
9 months earnings for Golden Agri: USD 1.18 cents
Taking currency conversion at 1.4 sing dollar to 1 usd and last trading price at $0.48,
P/E ratio for 9 months for Golden Agri is around 29
9 months earnings for Indo Agri: 861 rupiah
Taking currency conversion at 1 sing dollar to 6822 rupiah at this moment and the last trading price at $1.89,
P/E ratio for 9 months for Indo Agri is around 15
Thus, the P/E ration for 9 months is lowest for First Resource. making it a great bargain :D
SINGAPORE : Singapore-listed First Resources on Friday said its third-quarter net profit rose 38.6 per cent on-year to 262 billion Indonesian rupiah, or about S$38.6 million.
This was despite a 1.1 per cent dip in revenue for the three months ended September to 630 billion Indonesian rupiah or about S$92.7 million.
Lower selling and distribution costs as well as mark-to-market gains on currency derivatives contributed to the rise in profit during the quarter.
Looking ahead, First Resources said the fundamentals of the palm oil industry have remained favourable.
Despite seasonal peak-crop production, it said palm oil inventory levels remain at moderate levels due to continued good consumer demand.
First Resources said it has also maintained strong cost management to keep its cash cost of production low.
Barring unforeseen circumstances, it believes it should be able to deliver a strong operational performance for the remainder of this year.
| FirstRes |
_ 3 mths ended Sep 2009 ___ Net Profit (S$M)_ |
$ 39.36 |
___ + |
39% |
wat bian just start to run only after Today Paper recommendation at S$1.15
Hope this is the cheong sign.
Accumulation is on the way with support price at 0.93. Resistance at 0.97, 2nd Wave uptrend is forming from the chart but it will also depends on oil palm price before the next wave.
Is definitely a lookout for this in short term.
SOBAYOR,
rgds, star-trader
too many analyst recommendation but, I doubt will cheong soon. although volume is spectacular. maybe BB is accummulating
First Resources rebound will be confirmed today.
Broke out of the major resistance at 0.965 with heavy volume. May continue its run today. Supported by 20day MA.
Target 1.10
GoldA (usual top vol), FirstRes, IndoA (quite usual to be in the top 20 vols), and KenA(seldom top vol) --- all top 20 vol today. Why ?
FirstRes went up by more than 8%, a reverse to 21 Aug.
