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Not likely by 5pm today.
GO GO GO ...INDO...MAKE IT $2.8 BY 5PM TODAY!
IndoAgri is a unit of PT Indofood Sukses Makmur Tbk, one of the world’s largest instant noodle makers and flour milling company which is controlled by tycoon Liem Sioe Liong’s eldest son, Anthony Salim.
IndoAgri intends to acquire - via a 90%-owned subsidiary - a 60% stake in PT Lajuperdana Indah by injecting $56 million new capital into the target company. PT Lajuperdana owns a 21,500-hectare sugar cane plantation in South Sumatra. That's about 1/3 the size of S'pore. Approximately 18,600 hectares is intended to be cultivated with sugar cane. Currently, 2,800 hectares is planted with sugar cane.
“The sugar industry is an attractive proposition with growing demand in both the Indonesian and international markets,” according to IndoAgri.
“Domestic demand for sugar in the Indonesian market is increasing, driven by factors such as rapid population growth, the rapid development of the processed food and beverage industries, and the expansion of sugar-based industries such as ethanol processing which utilises molasses as a basic raw material.
“This, coupled with a shortfall in domestic supply in Indonesia and a prevailing world shift in land use from the growing of food crops to the growing of energy crops, implies a likely positive trend in the price of sugar in the future.”
Mark said that raw sugar and molasses obtained from the PT Lajuperdana plantation would be sold to third parties.
In time, IndoAgri may venture into vertical integration for its sugar business but its priority now is to increase the planted area and complete in 2 years' time the construction of a US$120-million sugar factory, he added.
Indonesia sugar prices may rise 10% on fuel hike. Indonesia's 30% hike in subsidized fuel prices last month is likely to increase biofuel demand and in turn raise sugar prices, said industry experts on 29/5.
Sugar cane and other crops that are part of IndoAgri’s portfolio will, going forward, increase in importance with respect to the company’s revenues.
Strong resistance at 2.70. Failed to break a few times already. Wonder if it can hit 3.00 again?
yeah 2.58..break 2.6 for papa..
the charts showed that yesterday IndoAgri already broke out...this morning CIMB also covered it and confirmed of its breakout
despite the dip in the share price this mornin.. don't be afraid...hold on to tis bugger...more upside to come..
Congrats to all....
Like i mentioned earlier, this stock is in analysts' radar. Good to hold in this volatile market.
I expect more to come... cheers
close 2.57!...good money...
Looks like today is buying palm oil counters day. Despite STI weakness all palm oil counters esp. Indoagri up btw 2 to 5%.
yeah baby...2.54 very easily done..
i love this stock!!!!
ozone2002 ( Date: 17-Jun-2008 15:05) Posted:
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indoagri is one of not many stocks that have a large analyst following - and all have 'buy' or 'outperf' calls on it.
www.nextinsight.com.sg
no wonder the CFO is smiling.
lookin at the accumulation @ 2.49..i think can go pass that price by today..
dunno how much i made from indo just by goin in n out...can refer to my earlier posts..
such a lucrative stock..:)
indo got to break 2.53 in order to 'cheong'
'jia yiu', indo!
IndoFood Agri is more than just palm oil. It intends to add a sugar plantation to its expanding agribusiness. Then there is the rubber business too. Cocoa, coconut and tea contribute on a small scale to Indofood’s revenue.
2.5!
go indo go indo go...2.47!!! muacks i love indo...
still very attractive... @$2.4
One of the stocks to hold in this volatile market
In Jakarta on Fri, London Sumatra soared 3.5% and Indonesia's largest palm oil firm Astra Agro Lesta was up 1.3%.