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Business Times
Wednesday, August 27, 2008
By Ooi Tee Ching
SIME Darby Bhd, one of the world’s leading listed oil palm plantation groups, has set its sights on
For a start, it plans to form a joint venture with one of
“We want to establish our presence in
“We (Sime…
Business Times
Wednesday, August 27, 2008
Credit Suisse has maintained its ‘outperform’ call on the Malaysian planter while Hwang-DBS has kept its ‘buy’ rating on the stock
CREDIT Suisse has lowered its target price on Malaysian palm oil firm Sime Darby to RM10.10 from RM12.50 after reducing its earnings estimates for fiscal 2009 and 2010 by 1 per cent and 4 per cent, the research house said on Wednesday.
Credit Suisse has maintained its “outperform” call on the Malaysian planter.
It said the lower target price took into account the de-rating of the Malaysian stock market and the plantation sector.
Sime shares rose 2.3 per cent to RM6.60 by 9.23 am today.
Meanwhile, Hwang-DBS Vickers Research has cut its target price on Sime Darby to RM7.65 from RM8.85 due to a weak industry outlook, the research house said today.
“Given that plantation stocks are still in a downcycle,…
KUALA LUMPUR, Aug 26 (Reuters) - Malaysia’s Sime Darby, the world’s largest listed palm oil firm, reported on Tuesday a 60 percent jump in fourth quarter profit but warned that future earnings could be hit by volatile commodity prices.
The company, the result of a merger between three government-controlled plantation companies, earned 1.02 billion ringgit ($301 million) or 16.99 sen a share in the fourth quarter ended June 30, boosted by strong crude palm oil prices.
It also declared a dividend of 44 sen a share for the quarter.
That compared to a net profit of 636.4 million ringgit or 11.62 sen in the year-ago period.
Full-year net profit was 3.5 billion ringgit or 59.63 sen a share, versus the Reuters Estimate of 3.56 billion ringgit or 59 sen a share.
Sime Darby has been benefiting from high prices for crude palm oil which…
Many Malaysian plantation firms venturing into the Indonesian side of
“We are concentrating on planting areas in
“We are concerned about the quality of plantings and making sure its…
By Manirajan Ramasamy and Feiwen Rong
Aug. 26 (Bloomberg) —
“We might need to take immediate measures” if prices “drop drastically below 2,000 ringgit ($590) a ton,” Chin said in a phone interview. The price tumbled as much as 7.5 percent today to 2,406 ringgit a ton.
Palm oil, used in cooking and as an alternative fuel, has slumped 11 percent in two days as supplies from
Business Times
Tuesday, August 26, 2008
KUALA Lumpur Kepong Bhd (KLK),
He said in an interview that the firm has invested RM200 million in a biodiesel softening plant, which will be commissioned in the second half of 2009. — Reuters
Business Times
Tuesday, August 26, 2008
CB INDUSTRIAL Product Holding Bhd said its unit has won a RM36.1 million contract to build a floating palm oil mill in
Modipalm Engineering Sdn Bhd won the order from PT TH Indo Plantation to build a mill with a capacity of 30-tonne per hour in Riau, it said in a statement to
Indonesian oil palm ops expected to contribute more
Managing director Roslan Hamir said the company would continue to bank on the production and trading of security and confidential documents as well as its palm oil production to be the main revenue drivers in FY09.
“However, we expect higher quantum of revenue growth from the oil palm division in view of higher fresh fruit bunch production,” he told reporters after the company AGM yesterday.
“We aim to produce at least 25,000 tonnes of crude palm oil (CPO) in FY09 compared with 9,000 tonnes previously,” Roslan said, adding that 80% of its CPO from
The Star
Monday August 25, 2008
By LAW KAI CHOW
PETALING JAYA: The share price of Tradewinds Plantation Bhd (TWPB) jumped 10.9% or 28 sen to RM2.84 on Friday and was the second biggest gainer in percentage terms in the KL Composite Index.
This is attributed to a third-day gain of 11.4% by the crude palm oil (CPO) futures, which ended the week at RM2,715 per tonne.
The CPO price has tumbled 11.4% this year and 35.7% from its all-time high in March, while TWPB’s share has fallen 28.3% this year.
Aseambankers said although TWPB’s net profit jumped 947% to RM87.2mil in the first half of its financial year ending Dec 31, it was still below the research unit’s expectation.
The group’s fresh fruit bunches (FFB) production was unexpectedly low at 252,800 tonnes, while the production cost was high at RM1,877 per tonne.
For…
Business Times
Friday, August 22, 2008
By Jeeva Arulampalam
Twelve months ago, the crude palm oil price was RM2,000 per tonne and the company had a good year, so at RM2,400, IJM is still good, says a company official
IJM Plantations Bhd remains optimistic on its current financial year results, although crude palm oil (CPO) price has tapered from its record high of RM4,486 per tonne in March.
“The current price (level) is not a big concern for us and we remain confident in our outlook,” IJM Plantations managing director and chief executive officer Velayuthan Tan told reporters after the company’s annual general meeting and extraordinary general meeting in Selangor yesterday.
“Twelve months ago, the price was RM2,000 (per tonne) and yet we had a good year. So at RM2,400 (per tonne), we are still good,” said IJM Plantations general manager for corporate affairs and finance…