Highlights
KLSE: UMCCA (2593)       UNITED MALACCA BHD MAIN : Plantations
Last Price Today's Change   Day's Range   Trading Volume
5.08   -0.04 (0.78%)  5.08 - 5.08  1,000
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Overview

Market Cap: 1,065 Million
NOSH: 210 Million
Avg Volume (4 weeks):19,438
4 Weeks Range:5.00 - 5.18
4 Weeks Price Volatility (%):
44.44%
52 Weeks Range:5.00 - 5.85
52 Weeks Price Volatility (%):
9.41%
Average Price Target: 4.95
Price Target Upside/Downside: -0.13
Stamp duty exempted for year 2019

Financial Highlight

Latest Quarter | Ann. Date 31-Jul-2019 [#1]  |  25-Sep-2019
Next QR | Est. Ann. Date: 31-Oct-2019  |  17-Dec-2019
T4Q P/E | EY: 77.92  |  1.28%
T4Q DY | Payout %: 1.57%  |  122.71%
T4Q NAPS | P/NAPS: 6.42  |  0.79
T4Q NP Margin | ROE: 5.52%  |  1.02%

Headlines

Date Subject
27-Sep-2019 【视频】联合马六甲 全年料亏1210万
26-Sep-2019 United Malacca Berhad - 1Q20 Deemed Within
26-Sep-2019 Mplus Market Pulse - 26 Sept 2019
10-Sep-2019 树龄老翻种慢·抵销印度加税·棕油产量减·价格有望回弹
24-Jul-2019 United Malacca Berhad - FFB To Recover in FY20
27-Jun-2019 Mplus Market Pulse - 27 Jun 2019
27-Jun-2019 United Malacca Berhad - FY19 Missed Expectations
13-May-2019 Plantation - Inventory Still Easing, But Not for Much Longer
25-Apr-2019 [转贴] [UNITED MALACCA BHD:CPO及PK价格偏低,不利潮湿天气导致FFB收益率低以及RM306万净汇兑亏损] - James的股票投资James Share Investing
25-Mar-2019 联合马六甲 财报逊色财测砍28%
22-Mar-2019 United Malacca - Still a Loss-making Quarter
22-Mar-2019 United Malacca - Still a Loss-making Quarter
22-Mar-2019 PublicInvest Research Headlines - 22 Mar 2019
22-Mar-2019 United Malacca Berhad - Sixth Miss
08-Feb-2019 联合马六甲 第三季或续蒙亏
04-Feb-2019 United Malacca - Losses Expected in FY19
04-Jan-2019 United Malacca Berhad - Disposals to Fund Sulawesi Ventures
04-Jan-2019 PublicInvest Research Headlines - 4 Jan 2019
04-Jan-2019 PublicInvest Research Headlines - 4 Jan 2019
04-Jan-2019 Mplus Market Pulse - 4 Jan 2019

Business Background

United Malacca Bhd is a Malaysia based oil palm cultivation company. It is involved in the cultivation of oil palm and crude palm oil milling operations. The group owns two palm mills namely, Bukit Senorang palm mill and Meridian palm oil mill. The business segments of the group are Plantation and Investment Holding. It generates its revenue from the Plantation segment. It’s property estates include Bukit Senorang, South East Pahang, Leong Hin San, Masjid Tanah, Pelin, Malaka Pinda, Machap, Tampin, Selandar, and Batu Anam. The company operates in Malaysia and Indonesia of which key revenue is derived from Malaysia.
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dusti Good stock. Too pricey for me
23/06/2017 11:08 PM
paperplane Cold eye mentioned before, it is going to boom. It is so true now!
25/06/2017 9:48 PM
Willie Khoo new territory in Kalimantan and Sulawesi will increase the revenue . good to buy for long term
28/06/2017 11:23 AM
Jonathan Keung sulaiwesi is forest reserve land( no oil palm plantings allowed )
28/06/2017 5:57 PM
paperplane Details of changes
No Date of change
No of securities
Type of Transaction Nature of Interest
1 30 Jun 2017
21,100
Acquired Direct Interest
Name of registered holder Aberdeen Islamic Asset Management Sdn Bhd
Address of registered holder Suite 26.3, Level 26, Menara IMC Letter Box No. 66 No. 8 Jalan Sultan Ismail 50250 Kuala Lumpur
Description of "Others" Type of Transaction

Circumstances by reason of which change has occurred An investment position taken in connection with Aberdeen Asset Management PLC Group's ordinary business in fund management
Nature of interest Deemed Interest
Direct (units) 0
Direct (%) 0
Indirect/deemed interest (units) 23,077,200
Indirect/deemed interest (%) 11.026
Total no of securities after change 23,077,200
Date of notice 03 Jul 2017
Date notice received by Listed Issuer 04 Jul 2017
04/07/2017 10:19 PM
ivan9511 buy buy buy
08/11/2017 11:56 PM
ivan9511 buy
12/12/2017 12:41 AM
18/12/2017 3:20 PM
Jonathan Keung where good ? 0.6 sen lousy
19/12/2017 10:42 AM
supersaiyan3 As more and more plants maturing, total production is actually dropping year after year. This is a wide spread phenomena with all these smaller plantation companies.

After 30 years, there will be few plantation companies left.

Going towards failure.
20/12/2017 8:32 AM
paperplane supersaiyan, you self contradict
20/12/2017 8:36 AM
paperplane in the edge today
20/12/2017 11:38 AM
Jonathan Keung edge write up- repeat of previous articles
26/12/2017 1:26 PM
issac99289928 China ban on soybean from the usa is good for palm oil industry
25/03/2018 7:23 PM
blablablacksheep guys, this few weeks big players are going to take over this company. Buy before it's too late
18/07/2018 9:52 AM
Diamond7 Wa...moving up..up..up..
now 6.50
Watch Chintek
09/08/2018 11:29 AM
Lim Tek Wai 值得投资
09/08/2018 11:40 AM
Jasper Coo well done
10/08/2018 10:55 AM
Diamond7 Up and down and up ....so fast!!!
Why?
11/08/2018 10:05 PM
Lim Tek Wai good to invest
13/08/2018 12:00 PM
Diamond7 Aberdeen disposed???
13/08/2018 8:08 PM
Lim Tek Wai 赚赚赚
14/08/2018 10:57 AM
Diamond7 News?
19/08/2018 5:41 PM
Jasper Coo Waiting for dividen soon. This time can cover back some capital loss. Not bad.
20/08/2018 10:51 AM
Diamond7 Dividend?
Ex date 26/7
Payment on 30/8

Next announcement for dividend in December.
22/08/2018 8:20 PM
Diamond7 Sorry
Typo error....It's 20/8
22/08/2018 8:21 PM
Jasper Coo Waiting for dividen soon. This time can cover back some capital loss. Not bad.
23/08/2018 11:28 AM
Jonathan Keung AGN tame affair
27/08/2018 2:09 PM
yfchong Bye bye
29/09/2018 9:20 PM
Fabien "The Efficient Capital Allocater" any thoughts on the land sales?
13/11/2018 8:56 AM
YoYo Next crop should b durian
14/11/2018 2:16 PM
Jonathan Keung Chua Joe Beng. agreed- Indonesian ventures far from happy ending. full of surprises whenever election is coming . this happen every 3 years. new people new rules new levy
15/11/2018 3:31 PM
Jonathan Keung kenanga TP 4.80
18/12/2018 4:57 PM
factorrumour NTA 7.19, banyak land can sell lagi, company wont die so easily larr
05/01/2019 10:19 PM
commonsense United Malacca (UMCCA) is not the only plantation company that posted disappointing results in the most recent quarters. If you go through other financial reports, most (if not all) plantation companies are affected by the low CPO price in Jul-Sept period.

In terms of valuation, all plantation stocks are currently trading at a high PE multiple (for those that still managed to record profit) or in UMCCA case, negative PE. This is reflective of the downturn cycle of the plantation industry. Don't think that the industry will reverse their down cycle anytime soon given the general demand of the commodity is expected to go down in the future. China for example, is negotiating with US to take in more agriculture products from US which would potentially include soybean (or soybean oil). In general, Chinese consumption of oil would not actually go up that much so the increase of soybean oil import from US to China would actually be at the expense of other oil commodities from other countries (in particular palm oil from Indonesia and Malaysia). Another issue is on the European demand of palm oil which is expected to go down exponentially given the proposed ban of palm oil use in food and transportation industries in the future. They have already agreed to phase out the use of palm oil in transport fuel by 2030. Some countries like France and Norway have already started to move away from palm oil.

With this in mind you need to have a slightly long-term investment horizon when buying into oil plantation companies like UMCCA as the return to upcycle might not be in the near future.
If you are looking to diversify your portfolio outside of United Malacca (due to its earnings uncertainties) I would recommend you to look at MBMR.

MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.9x PE (based on target FY18 profit of RM145mil. 9m profit is already RM106mil). PB is low at only 0.7x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17.

FY19 growth will be driven by the still high demand of the new Myvi and the newly launched SUV Aruz and also the newly revamp Alza in 2H19. The recent announcement of closure and potential disposal of the loss-making alloy wheel manufacturing business alone is expected to boost the company’s profit by an additional RM20mil. I am projecting a profit to shareholder of RM170 mil for FY19 which at the current price values MBMR at only 5.9x PE.

Please go through the analyst reports (https://klse.i3investor.com/servlets/stk/pt/5983.jsp) and do your own analysis before making any decisions. There are 8 analysts in total covering the stock with most of them having a TP of above RM3 (all have a buy rating). The average TP for the 8 analysts is around RM3.50.

Good luck.
31/01/2019 10:46 AM
factorrumour aberdeen run away from umcca because they knew uk and eu is not going to use palm oil anymore?
31/01/2019 9:19 PM
Junichiro The West has its bag of tricks. When their companies cannot compete with others, they use a variety of tricks e.g. palm oil is harmful to health n environment, our gloves have pin holes, Huawei gear has spy gear, ......

All oils are harmful if cooking goes above a certain temperature no matter it is canola oil, corn oil .... but palm oil can withstand higher temperature.

All telecommunication gear could potentially have spy ware issue including those made in USA n western countries .. if not how did the NSA do spying as revealed by Snowden?
01/02/2019 3:52 PM
Fabien "The Efficient Capital Allocater" another gruesome results.
21/03/2019 7:46 PM
cefiro22 yet big blocks put up as sellers at 5.40 being gobbled up as soon as keyed in this morning, mine too. Why so eager to buy blocks. Total done at tis time = 693,800 shares...there is an eager buyer to accumulate this stock.
22/03/2019 4:19 PM
James Ng https://klse.i3investor.com/blogs/general/203918.jsp
[转贴] [UNITED MALACCA BHD:CPO及PK价格偏低,不利潮湿天气导致FFB收益率低以及RM306万净汇兑亏损] - James的股票投资James Share Investing
25/04/2019 1:33 PM
dboulevard Foreign investors probably being blackmailed to not invest in palm oil companies. Few years ago the west already blackmailed the foreign banks into not lending to palm oil companies. Such as HSBC had to ask existing borrowers to refinance. Many small shareholders went yo local banks instead.
18/06/2019 12:07 PM
Jonathan Keung China trade war with U.S. is hurting economic growth. plantations hard hit by the slow down. come September inventories will hit 3.5 million tonnes. going to be tough year for pure upstream players
20/06/2019 8:54 AM
Kensington Its 4th quarter result is just horrendous, aggravated by among others poor palm oil and palm kernel prices. A reduced final dividend of 6 sen is proposed by Co.
26/06/2019 7:27 PM
yfchong Si liao
26/06/2019 9:35 PM
cefiro22 https://www.theedgemarkets.com/article/united-malaccas-earnings-likely...

No future? ...so, sell to Prosper Palm Oil Mill S/B while the going is good.
https://klse.i3investor.com/servlets/stk/annchsh/2593.jsp
28/06/2019 10:56 AM
28/06/2019 10:58 AM
Plantermen Numbers not looking good. Qtr to Qtr deteriorating.
26/07/2019 3:50 PM
Jonathan Keung mundane AGM
27/08/2019 9:41 AM
Diamond7 Good results! Hooray!
25/09/2019 9:04 PM
Plantermen Book their profit on their 4 estates sale. Once off gain. Operating losses for 6 consecutive qtr ( IF NOT the estates disposal} half of the peninsular land sold. Not a good indicator { stripped of their land disposal gain)
02/10/2019 10:37 AM
cefiro22 Why Prosper Palm Oil Mill S/B keeps buying,.. now has accumulated over 22,000,000 shares>
http://www.bursamalaysia.com/market/listed-companies/company-announcements/6304857

In Year Ended Jun 2018 they held 10.000,000, being 4th largest...Topmost = Great Eastern with
28,105,701.
08/10/2019 9:39 PM


 

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