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Overview
Financial Highlight
HeadlinesBusiness Background Sarawak Oil Palms Bhd is a Malaysia based company engaged in the principal activities of investment holding, cultivation of oil palms, and operations of palm oil mills. The primary businesses of the company are oil palm plantation, milling, refining of oil palm products and trading of oil palm products. The operating segments of the group are Oil palm and Property development. Oil palm segment contributes majorly to the group’s revenue. Geographical the company operates in Malaysia and Singapore, of which key revenue is derived from Malaysia.
  ChrisMz This is a very good company.. excellent in manage estates and its refinery is doing quite well too.. The only thing is that the dividend yield not so attractive 26/11/2020 5:19 PM LuckyG Depend on fund and operator when they want to goreng. For sure come, when only. Till now I only buy never sell 1 sop shares 26/11/2020 9:11 PM Gabriel Khoo this is a growth fully integrated plantation company cash reserve for capex. whereas sarawak plantation is a pure upstream small plantation company 27/11/2020 8:08 AM kinuxian 200+ mil full year profit is finger away and double digit ROE is highly possible for FY20. SOP become lowest PE 9.73 among their peers and top 5 on ROE. Wander what's MBB research house will say in their latest update. 27/11/2020 8:56 AM Gabriel Khoo FY20E: Poised to deliver one of its highest PATMI in history The above expected 3Q20 core PATMI was driven by high CPO ASP, decent downstream contribution, and lower-than-expected unit cost. While 4Q20 PATMI are likely to be lower QoQ on weaker output, and higher cost and taxes, SOP will nonetheless end the year posting one of the highest PATMI in its history. Following our EPS upgrades, we raise our TP to MYR5.36 on 15x 2021 PER peg, its updated historical 5Y mean. Trading at just 11x FY21 PER and adj. EV/ planted ha of MYR23,000, SOP remains a BUY. 27/11/2020 9:09 AM Gabriel Khoo Our call. Maintain TP of RM4.30 (based on P/BV of 1.0x and SOP’s FY21 BV/share) with revised earnings forecast for FY20/FY21 to RM222m and RM292m respectively from RM154m and RM193m previously, as we adjusted lower our costs of sales and tweaked our FFB processed and CPO production number lower with higher ASP of palm product anticipated. SOP’s share price has risen by 104% since its lowest in March and we now see the stock reaching closer to our valuation with an upside of 8.6% from current price. Hence, we changed our recommendation from BUY to HOLD. Accumulate on weakness. 27/11/2020 9:54 AM Anonymous9898 So sad... Good profit also no use. Fcpo keeps dropping. Many people just buy according to fcpo 27/11/2020 10:00 AM enning22 https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3108372 27/11/2020 10:01 AM kinuxian BIMB, maintaining the same TP with following facts?? LOL - First 3 quarters had bag in 183mil and exceed their original full year FY20 earning forecast 154m. - Increased FY21 profit forecast by 50% . Let see if more research house will cover them as financial ratio stood out from their peer. Anywhere, Q4 revenue usually strongest of a year, the expectation of weaker output fall perhaps within 10-20% range but CPO price shall fill the gap as it had strengthen around 20% so far. A conservative figure like minimum 50mil for Q4 are archivable easily. Short term trader that expecting some fast money right after good QR might be disappointed. 27/11/2020 10:40 AM bclassinvest Hi Gabriel, can I know the source of this research? FY20E: Poised to deliver one of its highest PATMI in history The above expected 3Q20 core PATMI was driven by high CPO ASP, decent downstream contribution, and lower-than-expected unit cost. While 4Q20 PATMI are likely to be lower QoQ on weaker output, and higher cost and taxes, SOP will nonetheless end the year posting one of the highest PATMI in its history. Following our EPS upgrades, we raise our TP to MYR5.36 on 15x 2021 PER peg, its updated historical 5Y mean. Trading at just 11x FY21 PER and adj. EV/ planted ha of MYR23,000, SOP remains a BUY. 27/11/2020 11:24 AM kinuxian https://www.spglobal.com/platts/en/market-insights/latest-news/agriculture/112620-india-cuts-import-duty-on-crude-palm-oil-by-10 27/11/2020 2:24 PM Plantermen India cuts its CPO import duty by 10% to 27.5% effective from today {27.11}this will increase the palm uptake by app 100,000 tonnes per month. SBO premium over CPO is between USD 230 - 240 per tonne 27/11/2020 6:33 PM skyea india horeca havent recover yet only. next year when horeca back online, palm will go from farm straight into transport vessels... 27/11/2020 9:10 PM Gabriel Khoo https://www.feednavigator.com/Article/2020/11/24/La-Nina-and-global-stockpiling-could-cause-agri-commodity-prices-to-increase-in-2021 27/11/2020 11:22 PM johoran Eps Q 1=12.47 Q2=6.72 Q3=12.93 Q4= if 100m eps 15 Total=47 sen 47x16=RM 7.50 28/11/2020 7:59 PM Anonymous9898 the main problem is whether the fcpo can sustain at 3000 for the whole 2021 and the production level as well 29/11/2020 9:08 AM Gabriel Khoo No need 3000....stay above 2800 SOP can still hit 300M. 2800 to 3000 for 2021 possible 29/11/2020 5:55 PM Gabriel Khoo https://www.foodnavigator-asia.com/Article/2020/11/24/Palm-oil-in-China-Consumption-growth-expected-in-food-sector-as-government-moves-to-phase-out-GM-soybean-oil 29/11/2020 6:44 PM Gabriel Khoo Palm-oil-in-China-Consumption-growth-expected-in-food-sector-as-government-moves-to-phase-out-GM-soybean-oil 29/11/2020 6:44 PM Gabriel Khoo rich valuation for swkplant. IF PBB cover SOP based on the valuation given to SWKPLANT I think TP for SOP would have easily double 29/11/2020 7:52 PM Plantermen SOP slow moving but underrated counter compared to its peer. Look at chinteck, United Malacca, smaller acreage but price much higher 30/11/2020 8:08 AM kinuxian SWKPlnt around 655m market cap and Pbb projecting 18x EPS for SWKPlnt valuation. Compared to SOP, around 2300m market cap but currently traded 9.7x EPS. While UTDPLT traded around 16.8x EPS and other big cap like IOI, KLK, GenP all traded 30-50x EPS. In short, just do the waiting game as fair valuation shall come. 30/11/2020 10:41 AM  | |
