Highlights
KLSE: SWKPLNT (5135)       SARAWAK PLANTATION BHD MAIN : Plantations
Last Price Today's Change   Day's Range   Trading Volume
2.39   +0.04 (1.70%)  2.35 - 2.39  129,700
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Overview

Market Cap: 669 Million
NOSH: 280 Million
Avg Volume (4 weeks):90,710
4 Weeks Range:2.33 - 2.44
4 Weeks Price Volatility (%):
54.55%
52 Weeks Range:1.91 - 2.78
52 Weeks Price Volatility (%):
55.17%
Average Price Target: 3.04
Price Target Upside/Downside: +0.65
Stamp duty exempted for year 2022

Financial Highlight

Latest Quarter | Ann. Date 30-Sep-2021 [#3]  |  19-Nov-2021
Next QR | Est. Ann. Date: 31-Dec-2021  |  19-Feb-2022
T4Q P/E | EY: 6.00  |  16.67%
T4Q DY | Payout %: 2.08%  |  12.51%
T4Q NAPS | P/NAPS: 2.3817  |  1.00
T4Q NP Margin | ROE: 16.48%  |  16.73%

Headlines

Date Subject
20-Dec-2021 Plantation Outlook 2022 - Victim of its own success
10-Dec-2021 MPOB Monthly Statistics Nov 2021 - Inventory eased on higher export and lower production
02-Dec-2021 Plantation Sector - 3Q21 Results Review
29-Nov-2021 Mplus Market Pulse - 29 Nov 2021
22-Nov-2021 Sarawak Plantations - On the right track
22-Nov-2021 Sarawak Plantation Berhad - Driven by Strong Plantation Margin
22-Nov-2021 Mplus Market Pulse - 22 Nov 2021
11-Nov-2021 Plantations - Inventory Rises as Export Tumbles
10-Nov-2021 MPOB Monthly Statistics Oct. 2021 - Ending stocks higher at 1.83m tonnes
08-Nov-2021 Plantations - CPO Price Rally Marred by ESG Concerns
10-Sep-2021 MPOB Stats August 2021- Ending stocks soar to 1.87m tonnes in August
06-Sep-2021 Plantation Sector - 2Q21 Earnings Review - A quarter of adrenaline-pumping results
30-Aug-2021 Sarawak Plantation Berhad - Led by Stronger CPO Prices
30-Aug-2021 Mplus Market Pulse - 30 Aug 2021
27-Aug-2021 Sarawak Plantations - Benefiting from higher ASP of palm products
11-Aug-2021 MPOB Monthly Statistics July 2021 - Inventory improved 7.3% mom to 1.50m tonnes
13-Jul-2021 Plantations - Sector Update - Inventory rose 2.8% mom to 1.61m tonnes
27-Jun-2021 Plantation - Sector Update - Outlook 2H21: In the limelight
10-Jun-2021 MPOB Monthly Statistics May 2021 - Inventory rose 1.5% mom to 1.57m tonnes
03-Jun-2021 Plantations - 1Q21 Earnings review: Impressive performance

Business Background

Sarawak Plantation Bhd is an investment holding company. It is engaged in the cultivation of oil palm and processing of fresh fruit bunches oil palm into crude palm oil and palm kernel. Other businesses include seed production, cattle integration, provision of laboratory and management services and property investment. The group has three reportable segments: Investment holding; Oil palm operations and Management services and rental. Sarawak generates most of its revenue from Oil palm operations.
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  ecching5519 likes this.
 
Bizfuneng Price of SWKPLNT hardly moves with CPO price all this high. Great to take profit and revisit at later time end of the year.
21/10/2021 3:14 PM
bluelight lag behind, time to catch up now
26/10/2021 3:27 PM
Johnzhang Yesterday's statistics

FBMKLCI: 1,530.92 (-31.39)
Bursa Trade Statistics:
Local Institutions (45.5%): -RM329.3m
Local Retail (31.3%): +RM314.3m
Foreign (23.2%): +RM15.0m

From the trades , Foreigners are not worried by the cukai Makmur, local institutions are! Mind boggling!
02/11/2021 9:16 AM
AntiPondan MONTHLY PRODUCTION FIGURES (MINING / PLANTATION / TIMBER)
SARAWAK PLANTATION BERHAD

Type Announcement
Subject MONTHLY PRODUCTION FIGURES (MINING / PLANTATION / TIMBER)
Description The information below shows the production figures of Sarawak Plantation Berhad for the month of October 2021
Product Metric Tonne
FFB 29,964.16
CPO 13,674.83
PK 3,169.11
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3206913
05/11/2021 2:25 PM
AntiPondan YOY output even up?
05/11/2021 2:25 PM
calvintaneng EXCELLENT
EXCELLENT

GOOD FOR SWKPLANT
ALSO GOOD FOR TAANN AS IT IS TOP HOLDER OF SWKPLANT
05/11/2021 2:28 PM
sethoylo Dividend declare soon.. please surprise us your share holder for support u so long
10/11/2021 3:01 PM
Johnzhang KUALA LUMPUR (Nov 17): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher on Wednesday owing to a higher overnight Chicago Board of Trade (CBOT) soybean oil market as well as expectation of stronger demand, palm oil trader David Ng said.

He told Bernama the recent export estimates by cargo surveyors point to higher demand.
18/11/2021 5:39 AM
cpo_ QR soon? Today or Mon? Why down even CPO >RM 5K?
19/11/2021 11:58 AM
joerakmo 9mth eps 34.15sen , FYE21 would be more than 50sen.With state election coming hopefully final plus special div of 20sen or more
19/11/2021 9:30 PM
calvintaneng FANTASTIC RESULT BY SWKPLANT

NEXT TAANN WILL REPORT FANTASTIC RESULT BECAUSE IT IS TOP HOLDER OF SWKPLANT



THE MOST POWERFUL EARNING RESULTS FOR ALL OIL PALM COMPANIES WILL BE OUT ONE BY ONE

3 STEPS

1) STAGE ONE IS NOV 2021 RESULTS: FANTASTIC
SHOULD REPORT 3 QUARTERS OF CPO HARVEST AT RM4,417

2) STAGE TWO: FEBRUARY 2022 RESULTS: SUPERB WITH HIGHEST DISTINCTIONS!
WILL REPORT QUARTERS CPO AT OVER RM5,000 WORLD RECORD

3) STAGE THREE: MAY 2022 RESULTS

WILL BE ACCOMPANIED WITH HIGHER DIVIDENDS, SPECIAL DIVIDENDS, FREE BONUS ISSUES, FREE WARANTS & OUTRIGHT HIGH OFFER OF TAKEOVERS LIKE KLK TAKING OVER IJMPLANT

STANDING OVATION!

ALL ROUND APPLAUSE!!

RESOUNDING SUCCESS!!!
20/11/2021 1:25 PM
BN_better RM 3 by Sarawak state election?
22/11/2021 9:34 AM
BN_menang Best ever QR? Record share price can?
22/11/2021 10:32 AM
sweetpotato well managed company with strong fundamentals. valuation is relatively low. but market worries whether or not the CPO price is sustainable & esg concerns. is plantation sector experiencing major re-rating (down)?
22/11/2021 10:46 AM
BN_menang 3.88 TP why nobody buy more?
22/11/2021 11:08 AM
i3gambler I think esg issue is not so applicable to small companies, as local investor like us would not care, we care for the PE and DY only.

Those big foreign funds who care for esg will not invest in small companies anyway.
22/11/2021 11:16 AM
chshzhd no problem ..
22/11/2021 12:42 PM
kk123 15 sen eps just this qtr alone.
The share shld be worth much more
22/11/2021 1:46 PM
Johnzhang Hope there is generous 2nd interim dividend to be announced soon , like Taann.
22/11/2021 6:59 PM
newbie5354_ Taann 20 sen dividend why Swk Plant cannot have even 10 sen? Nobody complain to IR is it?
23/11/2021 11:51 AM
newbie5354_ No wonder RM 2.6 also hard even QR very good.
23/11/2021 11:54 AM
newbie5354_ Taann good QR and dividend not contributed by Swk Plant 100% true?
23/11/2021 12:03 PM
newbie5354_ Swk Plant and TaAnn why >80 sen price different? Share swap 1 TaAnn for 1 Swk Plant why nobody propose?
23/11/2021 12:06 PM
cpo_ newbie5354_ is proposing TaAnn to own 100% Swk Plant by issuing share.
23/11/2021 12:26 PM
cpo_ If not 1 for 1 ratio perhaps 0.8 or 0.9 TaAnn better for us?
23/11/2021 12:30 PM
cpo_ No wonder BIMB TP more reasonable. Without interim dividend or share exchange(to TaAnn) PBB TP not realistic.
23/11/2021 12:37 PM
Undi_PH Sarawak state election give PH a chance.
24/11/2021 9:46 AM
bluelight super good quarter result but share price keep dropping
24/11/2021 5:11 PM
sethoylo no dividen definitely drop
24/11/2021 9:23 PM
Huatexpert MPOA 1 - 20 Nov production est.

Pen Malaysia - 1.56%
Sarawak + 7.7 % increased compare to Oct'21
Sabah + 3.65 % increased compare to Oct'21

Seem like Sarawak palm oil players production is doing well in Nov...
25/11/2021 3:44 PM
Johnzhang Agreed. Swkpltn is under Taann's leadership is expect to pay generous dividend too. Final /special dividend should be good, especially CPO remain bullish into 2022.
26/11/2021 6:54 AM
joerakmo Landbank 43576ha,planted 34226ha.
If planted valued at Rm45k per ha(like Ijmplt) would imply price of Rm5.50 per share.Current price also below IPO price Rm2.80
Afraid Taann and 'white hair' want to 'steal' Swkplt cheap now that it has turned the corner and FYE21 eps more than 50cts
26/11/2021 9:51 AM
ongth60 Dividend 10 cent
26/11/2021 6:58 PM
newbie5354_ CNY ang pow.
26/11/2021 8:51 PM
Huatexpert Oct and Nov production output show promising Q4 report with higher CPO price...
Higher than 2020 output....

Description The information below shows the production figures of Sarawak Plantation Berhad for the month of November 2021

Product Metric Tonne
FFB 29,500.18
CPO 12,361.59
PK 2,688.08

Description The information below shows the production figures of Sarawak Plantation Berhad for the month of October 2021

Product Metric Tonne
FFB 29,964.16
CPO 13,674.83
PK 3,169.11


Nov 2020

Description The information below shows the production figures of Sarawak Planation Berhad for the month of November 2020
Product Metric Tonne
FFB 27,774.26
CPO 11,037.43
PK 2,182.67
08/12/2021 11:11 AM
stockraider Collect lah!
08/12/2021 12:56 PM
CCWONG If you look at many listcos in KLSE, many are loss-making or profit-making going down, but oil-palm listcos' profit-makings are going up.

That makes the difference.

MYR to USD is 4.20++.

Inflation is ++.

Cost of doing business is ++.

Oil-palm listcos are export-oriented (CPO & others) earning USD.

Share price positive upwards movement is a matter of time.
08/12/2021 1:59 PM
Johnzhang It is one of those plantations with very strong balance sheet and in good financial position to continue paying good dividend in years ahead.
08/12/2021 3:33 PM
Johnzhang Other plantation companies having strong cash position are Inno, Taann, Hsplant, KMLoong, SOP and UP.
08/12/2021 3:37 PM
Undi_PH TaAnn RM 3.45 why Swk Plant 2.5 also hard? Must vote PH on 20th Dec?
09/12/2021 3:22 PM
stockraider Correctloh...if u factor in increase in cost of 10%...the production cost of CPO is Rm 2750 m/t.

Current CPO future 12 mths average ( Average from future Jan 2022 to Dec 2022) pm 4250!

U still talking about very outstanding Gross Margin of about 36% compare to usual 10% mah!

Plantation will record sky high profit going fwd loh!

Btw...usual norm of cost of production is only around Rm 2200 per tonnes!

Posted by Johnzhang > Dec 10, 2021 11:33 AM | Report Abuse

Some Investors may be concern of the labour and fertilizer cost increase on plantation company’s performance in 2022. The IBs and media are very prone to look at only one side of the equation and they seriously lack professionalism.

My view is oil palm plantation will still be laughing to the banks next year. Mind you that most big time CPO traders expect CPO to trade above $5,000 during Jan-Mac 2022 and between $4,000 to $5,000 during Apr-Dec 2022.

Cost of production (at estate level) during recent years (2017-2020) were $1,500 -$1,800 pmt CPO depending on the cost efficiency of each planter.
Average CPO price over same period (2017-2020) was about $2,490 pmt as shown in the calculation below :
2017 $2,800
2018 $2,150
2019 $2,250
2020 $2,760
-----------------
Avg $2,490
=================
Therefore, average Gross Margin in past recent years enjoyed by planters were $990 to $690 pmt CPO. (ie average CPO price $2,490 minus cost of production $1,500 to $1,800).

Due to higher labour and fertilizer costs, the cost of production is expected to increase by max. $300 pmt CPO basis. The new cost of production for 2022 shall be $1,800 -$2,100 pmt CPO.
Based on 2022's CPO price forecasted by big time CPO traders averaging $4,500 , the Gross Margin of the planters will be $2,700 to 2,400 pmt CPO.

2022's Gross Margin is 2.7 times to 3.5 times higher than the average of 2017-2020.

Just for sharing.
10/12/2021 11:49 AM
Johnzhang @Stockraider, could you share how do you get the cost of production of $2,750 and $2,200 as stated by you ? The cost of production the oil palm industry talk about is always the total cost involved in producing FFB plus conversion cost to CPO at ESTATE LEVEL.
10/12/2021 12:56 PM
Johnzhang @stockraider, may I refer you to Bplant's 2020 annual report page 38 (CEO's Review). It is clearly stated that CPO production cost of $1,649 /mt. Bplant is always rated as one of the less efficient producer.
10/12/2021 1:48 PM
stockraider I read some article recently saying Indonesia cost is about USD 450 to 500 and Msia is USD 500 to USD 550.

Thus say take the highest USD 550 x Rm 4.25 = about Rm 2350 factor in 10% to 20% compliance cost of labor Requirement plus fertiliser Rm 2750 is a very conservative figure mah!

Of course, if lower we still can benefit even more mah!

Posted by Johnzhang > Dec 10, 2021 12:56 PM | Report Abuse

@Stockraider, could you share how do you get the cost of production of $2,750 and $2,200 as stated by you ? The cost of production the oil palm industry talk about is always the total cost involved in producing FFB plus conversion cost to CPO at ESTATE LEVEL.


Posted by Johnzhang > Dec 10, 2021 1:48 PM | Report Abuse

@stockraider, may I refer you to Bplant's 2020 annual report page 38 (CEO's Review). It is clearly stated that CPO production cost of $1,649 /mt. Bplant is always rated as one of the less efficient producer.
10/12/2021 2:16 PM
Johnzhang There are all sort of Cost of Production (COP) figures quoted in the media and has caused confusion to investors.
According to what I know, the standard version of COP consistently adopt by all oil palm plantations here and Indonesia are ALL OPERATIONS COST, OVERHEAD, DEPRECIATION AND OTHER RELATED CHARGES . THEY INCLUDE FIELD UPKEEP, FERTILIZER, HARVESTING, TRASPORTATION, LABOUR, DEPRECIATION, MILLING, CESS AND SALES TAX. (Sales tax only applicable to east Malaysia).

Financing (which is capital cost ), Income tax and Windfall tax (which are tax on profit, not on production activities) do not form part of COP.

COP for plantation in East Malaysia is generally higher due to sales tax imposed by state government. COP for plantation in Indonesia is higher by anywhere between RM200 -300 compared to plantation in Malaysia due to overall higher input cost, logistic cost and "the hidden costs". Unit labour cost in Indonesia may be low but productivity is also much lower thus nullifying the advantage
10/12/2021 5:43 PM
bluelight sawarak plantation have good management, think they able manage the cost efficiently, most important the CPO volume continue growthing
14/12/2021 1:38 PM
Johnzhang Climate change and extreme weather is going to limit agriculture production globally. Edible oil crop prices will stay elevated for years and benefit oil palm plantations. Will investors continue to ignore high earnings and high DY sector ?
04/01/2022 9:22 PM
Johnzhang CPO avg Q4 21 is $5,154 which is 17% higher than last Q..
SWPLTN's Jan-Sept 21 EPS is 34.15 sen
Est EPS Q4 21 is 16.5 sen
FY21 EPS shall be 50.65 sen.
Share price @ 4/1/22 $240
PE is( 240/50.65) = 4,7X
% return on share price is (50.65/240 )=21%
If dividend payout is 60%, DY is 12.6%
05/01/2022 6:30 AM
chshzhd good
05/01/2022 10:21 AM
joerakmo crop report out,projected 4Q21 EPS 24sen and dividend 14 sen
07/01/2022 10:51 AM


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