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Malaysian CPO futures hit new record |
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Crude palm oil (CPO) futures for June delivery on the Bursa Malaysia hit a new record of RM4,160 per tonne.
Crude
oil prices stayed at above US$101 a barrel ahead of an OPEC meeting
where the group was expected to maintain current output.
OPEC President Chakib Khelil said, "Either we hold (output) steady or we cut in order to restore market balance and stability."
Phua
Kwee Hock, an analyst with SJ securities commented "Global funds have
shifted towards investing in commodities as equity and credit markets
are stuck in a meltdown."
"Commodity prices have certainly been
a positive factor," said David Cohen, Singapore-based director of Asian
economic forecasting at Action Economics. "Global export demand is
being supported as growth in Asia, notably China, and oil-exporting
nations including Russia, have helped balance the slowing from the US."
Dorab
Mistry of Godrej International Ltd said, "Palm oil prices could rise to
4,500 ringgit a ton between September 2008 and February 2009 if the
weather worsened."
"The substantial rise in palm oil and crude
oil prices will continue to boost commodity and mining exports." said
Lee Heng Guie, an economist at CIMB Investment Bank Bhd.
Palm oil is used as cooking oil, in snack food items, oleochemicals and biodiesel. THE END.
Golden Agri-Resources Ltd's CEO Franky Oesman Widjaja has announced
that the Indonesian oil palm plantation company has had a record year.
Palm
oil, a crop usually used to make cooking oil and oleochemicals, is the
most consumed oil worldwide. Demand from China and India along with
demand from biodiesel producers has recently further driven up crude
palm oil (CPO) prices.
“Every day is a new record.” says Widjaja.
CPO
prices gained 55% in 2007 and have continued this run, gaining 23% this
year, hitting a high of RM 4,160 per tonne this week. Golden-Agri's
revenue rose two-thirds to US$1.87 billion and its net profit rocket
2.5 times to US$1.17 billion for the year to Dec 31, 2007. Gross profit
margins swelled from 24% to 35%.
Indonesia and Malaysia together account for approximately 86% of all palm oil produced globally.
Widjaja
has grand plans for the company and wants to make Golden Agri the
world’s biggest oil palm plantation again. It was the largest
plantation company until Sime Darby merged its plantation business with
Golden Hope and Kumpulan Guthrie in 2007, increasing its planted areas
to some 540,000ha.
Golden Agri has 360,000ha of land planted,
making it Indonesia’s largest plantation firm, one-and-a-half times
larger than its closest competitor, Astra Agro Lestari. Golden Agri’s
has a massive land bank spanning 1.3 million ha which will allow it to
regain its leadership position in the world. The company increased its
hectarage by about a fifth, planting up 53,000ha in 2007. Its goal in
2008 is to plant another 60,000ha.
“We hope to catch up. We
are determined to do it,” Widjaja says, referring to the company’s aim
to regain its size leadership in the industry.
“With its
aggressive planting programme of 60,000ha a year, Golden Agri will
become the world’s largest plantation company in planted hectarage in
two to three years’ time,” says Alvin Tai of OSK Research.
According
to Oil World, a research house for the oilseeds industry, CPO
production will rise 7% in Malaysia in 2008. In Indonesia, production
is due to jump 19% this year. However, even if prices moderate from
their current lofty levels, plantation companies are not worried
because with costs in Indonesia running at US$200 to US$300 a tonne,
margins from the plantations business are good. Golden Agri produced
two million tonnes of palm products last year and crude palm oil
accounted for 43% of its revenue.
Golden Agri operates 31 mills
with a capacity of 8 million tonnes of CPO. It also processes and sells
palm kernel produces, refined palm products such as cooking oil and
margarine. The comapny has earmarked between US$350 million and US$500
million to expand its oil palm plantations and build two additional
refineries in Kalimantan this year. THE END.
Interesting articles: unable to cut and paste. click link to read
http://www.palmoiltruthfoundation.com/index.php?option=com_content&task=view&id=822&Itemid=716
http://www.palmoiltruthfoundation.com/index.php?option=com_content&task=view&id=820&Itemid=716
Stock Fundamentals
From Golden agri website:
Updated: 16 May 2008 17:05
Historical EPS ($) a
0.17721 |
NAV ($) b
0.5219 |
Historical PE
5.643 |
Price / NAV b
1.916 |
Dividend ($) d
0.035000 |
52 Weeks High
1.230 |
Dividend Yield (%) d
3.500 |
52 Weeks Low
0.395 |
Par Value ($)
USD 0.025 |
Market Cap (M)
9975.904 |
Issued & Paid-up Shares c
9,975,904,000 |
Implies More upside potential to come!
Agreed. Target price about 30 to 55% upside according to various recent broking house report. darius ( Date: 18-May-2008 02:07) Posted:
| GA broken resistance, looks like more upside to come, volume looks healthy. The ride up is just beginning.
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GA broken resistance, looks like more upside to come, volume looks healthy. The ride up is just beginning.
Ayoh yoh, AK perceives that its up trend if DJ don't play punks. CHeers.
Which economist is this? Credible or not? Seems to contradict most reports that I have read. For example this one at commodity on line
http://www.commodityonline.com/news/topstory/newsdetails.php?id=8353
Yesterday watch channelnews asia annd the economist say tat they expect palm oil will adjust downward by 25%. Any impact to this?
Basically, agri commodities still overweigh others, at least at this period. AK views lah.
what is the target, will it ciong to 125 in 2~3 weeks time??
oh spiderman1234, i think u are referring to the news released in the evening.. err.... 5 rupiah per share... ha ha.. kanasai..
basically, u don't have to care about the dividend of this stock.. it is nothing, the price movement can make you high already..
mana ada 5 rupiah, abang, lihat betul la... SGD 0.005 , 1 lot 5 dollar, so, let say you buy at May 5, 0.88, 1 lot SGD 880, dividend 5, the dividend yield is 5/880x100%=that is only 0.568%, but with price today of 1 dollar , (1-0.88)/0.88 x 100%, that is 13.63% , so, at the end of the day, you got about 14% gain ....
Did i read correctly. GA's divvy is 5 rupiah per share?
That means if i have 1 lot is how much?
Ha ha a min before close, Q B at 0.985, didn't work leh.
| 16:35:17 | 1.000 | 2,500,000 | Buy Up |
Looks like BB holding stock down and then mopping up in a big way.
got any SHORT ?!?! hee...
cheers !
Long weekend ahead. GAR will probably close at $1.00 today because of profit taking. If finish at today's high this will be a even more bullish sign. Expect further run up next week because of attractive valuation. Palm oil prices may fluctuate up and down but general trend is still up.
Song song ke Jurong leow. Cheers buddies.
Congrats to all GAR holders. Looks like it has finally awaken up from deep coma. Very convincing breakout. Minor resistance at 1.05, 1.12, 1.22. More upside to come. Still relatively cheaper compared to its peers. Enjoy the ride, the sharksfin and the lobster. Caveat emptor. Next one to move will be FR;; yet to cover gap to 1.39. Only just above 10% its IPO price.
beside the lobster...i also want this..... 
jackjames ( Date: 16-May-2008 15:08) Posted:
Everybody makes some noise !!!!
| 15:03:13 |
1.01 |
742,000 |
Buy Up |
| 15:03:12 |
1.01 |
9,000 |
Buy Up |
| 15:03:09 |
1.01 |
3,473,000 |
Buy Up |
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