Highlights
KLSE: BKAWAN (1899)       BATU KAWAN BHD MAIN : Plantations
Last Price Today's Change   Day's Range   Trading Volume
15.84   +0.14 (0.89%)  15.70 - 15.88  43,400
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Financials


Market Cap: 6,905 Million

Market Cap 6,905 Million
NOSH 436 Million

Latest Audited Result:  30-Sep-2018

Latest Audited Result: 30-Sep-2018
Announcement Date 31-Dec-2018
Next Audited Result: 30-Sep-2019
Est. Ann. Date: 31-Dec-2019
Est. Ann. Due Date: 28-Mar-2020

Latest Quarter:  30-Sep-2019 [#4]

Latest Quarter: 30-Sep-2019 [#4]
Announcement Date 19-Nov-2019
Next Quarter: 31-Dec-2019
Est. Ann. Date: 18-Feb-2020
Est. Ann. Due Date: 29-Feb-2020
QoQ | YoY   90.26%  |    35.75%

Annual (Unaudited) ( EPS: 83.38, P/E: 19.00 )

Revenue | NP to SH 16,045,591  |  363,499
RPS | P/RPS 3,680.60 Cent  |  0.43
EPS | P/E | EY 83.38 Cent  |  19.00  |  5.26%
DPS | DY | Payout % 13.65 Cent  |  0.86%  |  16.36%
NAPS | P/NAPS 13.13  |  1.21
YoY   -21.91%
NP Margin | ROE 4.53%  |  6.35%
F.Y. | Ann. Date 30-Sep-2019  |  19-Nov-2019

T4Q Result ( EPS: 83.38, P/E: 19.00 )

Revenue | NP to SH 16,045,591  |  363,482
RPS | P/RPS 3,680.60 Cent  |  0.43
EPS | P/E | EY 83.38 Cent  |  19.00  |  5.26%
DPS | DY | Payout % 13.70 Cent  |  0.86%  |  16.43%
NAPS | P/NAPS 13.13  |  1.21
QoQ | YoY   7.53%  |    -21.91%
NP Margin | ROE 4.53%  |  6.35%
F.Y. | Ann. Date 30-Sep-2019  |  19-Nov-2019

Annualized Result ( EPS: 83.38, P/E: 19.00 )

Revenue | NP to SH 16,045,591  |  363,499
RPS | P/RPS 3,680.60 Cent  |  0.43
EPS | P/E | EY 83.38 Cent  |  19.00  |  5.26%
DPS | DY | Payout % -
NAPS | P/NAPS -
QoQ | YoY   2.18%  |    -21.91%
NP Margin | ROE 4.53%  |  6.35%
F.Y. | Ann. Date 30-Sep-2019  |  19-Nov-2019


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Click the QoQ or YoY on table to view the QoQ or YoY Financial Result page.

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Date Financial Result Financial Ratio Per Share Item Performance Valuation (End of Quarter) Valuation (Ann. Date)
F.Y. Ann. Date Quarter # Revenue PBT NP NP to SH Div Net Worth Div Payout % NP Margin ROE NOSH RPS Adj. RPS EPS Adj. EPS DPS Adj. DPS NAPS Adj. NAPS QoQ YoY EOQ Date EOQ Price EOQ P/RPS EOQ P/EPS EOQ P/NAPS EOQ EY EOQ DY ANN Date ANN Price ANN P/RPS ANN P/EPS ANN P/NAPS ANN EY ANN DY
30-Sep-2019 19-Nov-2019 30-Sep-2019 4 16,045,591 929,312 727,441 363,499 59,485 5,722,534 16.36% 4.53% 6.35% 396,572 4,046.07 3,680.60 91.66 83.38 15.00 13.65 14.4300 13.13   -21.91% 30-Sep-2019 15.68 0.39 17.11 1.09 5.85% 0.96% 19-Nov-2019 15.40 0.38 16.80 1.07 5.95% 0.97%
30-Sep-2018 14-Nov-2018 30-Sep-2018 4 18,966,357 1,276,705 925,681 465,476 60,184 6,596,254 12.93% 4.88% 7.06% 401,232 4,727.03 4,350.57 116.01 106.77 15.00 13.81 16.4400 15.13   -20.65% 28-Sep-2018 17.00 0.36 14.65 1.03 6.82% 0.88% 14-Nov-2018 16.86 0.36 14.53 1.03 6.88% 0.89%
30-Sep-2017 22-Nov-2017 30-Sep-2017 4 21,548,322 1,622,131 1,198,723 586,646 242,461 6,720,215 41.33% 5.56% 8.73% 404,102 5,332.40 4,942.83 145.17 134.57 60.00 55.62 16.6300 15.42   -28.91% 29-Sep-2017 19.12 0.36 13.17 1.15 7.59% 3.14% 22-Nov-2017 19.80 0.37 13.64 1.19 7.33% 3.03%
30-Sep-2016 16-Nov-2016 30-Sep-2016 4 16,969,251 1,822,586 1,776,895 825,168 223,149 6,089,965 27.04% 10.47% 13.55% 405,727 4,182.43 3,892.47 203.38 189.28 55.00 51.19 15.0100 13.97   70.19% 30-Sep-2016 18.18 0.43 8.94 1.21 11.19% 3.03% 16-Nov-2016 18.30 0.44 9.00 1.22 11.11% 3.01%
30-Sep-2015 18-Nov-2015 30-Sep-2015 4 14,055,308 1,241,522 970,468 484,840 203,799 5,624,877 42.03% 6.90% 8.62% 407,599 3,448.31 3,224.06 118.95 111.21 50.00 46.75 13.8000 12.90   -7.04% 30-Sep-2015 16.78 0.49 14.11 1.22 7.09% 2.98% 18-Nov-2015 17.56 0.51 14.76 1.27 6.77% 2.85%
30-Sep-2014 19-Nov-2014 30-Sep-2014 4 11,499,664 1,417,281 1,106,715 521,546 246,652 4,657,614 47.29% 9.62% 11.20% 411,086 2,797.38 2,637.83 126.87 119.63 60.00 56.58 11.3300 10.68   7.82% 30-Sep-2014 19.10 0.68 15.05 1.69 6.64% 3.14% 19-Nov-2014 18.48 0.66 14.57 1.63 6.87% 3.25%
30-Sep-2013 20-Nov-2013 30-Sep-2013 4 9,466,245 1,285,791 1,032,434 483,709 228,321 4,570,577 47.20% 10.91% 10.58% 415,129 2,280.31 2,171.40 116.52 110.95 55.00 52.37 11.0100 10.48   -20.14% 30-Sep-2013 18.50 0.81 15.88 1.68 6.30% 2.97% 20-Nov-2013 20.00 0.88 17.16 1.82 5.83% 2.75%
30-Sep-2012 21-Nov-2012 30-Sep-2012 4 336,541 625,644 611,943 605,687 270,898 3,734,229 44.73% 181.83% 16.22% 416,766 80.75 77.20 145.33 138.93 65.00 62.14 8.9600 8.57   -22.29% 28-Sep-2012 18.00 22.29 12.39 2.01 8.07% 3.61% 21-Nov-2012 17.74 21.97 12.21 1.98 8.19% 3.66%
30-Sep-2011 23-Nov-2011 30-Sep-2011 4 283,140 785,356 787,323 779,468 397,154 3,678,905 50.95% 278.07% 21.19% 418,057 67.73 64.95 186.45 178.80 95.00 91.10 8.8000 8.44   37.36% 30-Sep-2011 14.96 22.09 8.02 1.70 12.46% 6.35% 23-Nov-2011 16.20 23.92 8.69 1.84 11.51% 5.86%
30-Sep-2010 29-Nov-2010 30-Sep-2010 4 224,426 572,504 569,195 567,452 274,887 3,159,089 48.44% 253.62% 17.96% 422,903 53.07 51.48 134.18 130.16 65.00 63.05 7.4700 7.25   68.21% 30-Sep-2010 12.28 23.14 9.15 1.64 10.93% 5.29% 29-Nov-2010 15.60 29.40 11.63 2.09 8.60% 4.17%

PBT = Profit before Tax, NP = Net Profit, NP to SH = Net Profit Attributable to Shareholder, Div = Dividend, NP Margin = Net Profit Margin, ROE = Return on Equity, NOSH = Number of Shares, RPS = Revenue per Share, EPS = Earning Per Share, DPS = Dividend Per Share, NAPS = Net Asset Per Share, EOQ = End of Quarter, ANN = Announcement, P/RPS = Price/Revenue per Share, P/EPS = Price/Earning per Share, P/NAPS = Price/Net Asset per Share, EY = Earning Yield, DY = Dividend Yield.


NOSH is estimated based on the NP to SH and EPS. Div is an estimated figure based on the DPS and NOSH. Net Worth is an estimated figure based on the NAPS and NOSH.

Div Payout %, NP Margin, ROE, DY, QoQ Δ & YoY Δ figures in Percentage; RPS, EPS & DPS's figures in Cent; and NAPS's figures in Dollar.

All figures in '000 unless specified.


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  2 people like this.
 
sheldon I think the underlying motive is partly money. One research said that they should ban butter because the cows that produce the milk which is churned into butter, collectively has a fart that causes massive increases in greenhouse gases.

Would they take such a drastic step to stop consumption and put a lot of farmers into the poor house? No way!!!
04/02/2018 10:59 PM
sheldon Anyone going to the AGM?
07/02/2018 5:15 PM
mf No
08/02/2018 11:16 PM
sheldon I attended the AGM and came out feeling good about the co. According to the chairman, the Europe ban on palm oil in 2021 is only for the diesel content. They would require all members to vote (uncertain as to whether a unanimous or majority consent required).

Any way there's a lot of vested interest at individual country level including Malaysia buying their goods and countries involved in the production of palm diesel. The following report explains the dynamics and reveal some relevant data. Read em..

https://www.transportenvironment.org/sites/te/files/publications/2016_11_Briefing_Palm_oil_use_continues_to_grow.pdf
19/02/2018 10:52 PM
enigmatic ¯\_(ツ)_/¯ why isn't anyone interested in this stock? price is at its lowest this year. it has been consistently paying dividends too, in fact sometimes more than KLK.
24/07/2018 12:59 AM
sheldon KLK is trading at 24++.
Batu Kawan, trading at 17++, enjoyed current quarter profits, YTD profits, PE and dividend yield far better than KLK.
15/08/2018 3:44 PM
sheldon Good to see a lot of share buybacks
23/10/2018 2:50 PM
sheldon How come no dividend announcement?
16/11/2018 10:21 AM
sheldon ok - just checked with the Co - dividend announcement in Dec due to changes in cos act
16/11/2018 10:38 AM
sheldon Looks like shareholders of B Kawan are the strong & silent type. I seem to be the only one raising issues here. I feel like I'm talking to a wall. haha
16/11/2018 11:21 AM
David *sheldon*, Thanks for checking the dividends with the company. KLK too did not announce the dividends yet.
16/11/2018 1:02 PM
Cipta treasury share close to 10%, perhaps BOD can consider distribute it as dividen?
16/11/2018 6:25 PM
sheldon Welcome dnlt.

Cipta - I prefer that the Co cancels the treasury share & go for a capital reduction. Less shares, the better the ROE & EPS.
17/11/2018 3:02 PM
Cipta canceling treasury share may not push up the share price since liquidity becomes lower.
Cancelling treasury share won't create cash to co and shareholders. But distribute it to shareholders will create cash flow to small holders like me. If BKawan distribute 1 treasure for 10 shares, it will be a fat dividends to me. :)
17/11/2018 9:26 PM
sheldon Distribution of treasury shares = bonus shares - it just cuts the cake into smaller pieces. Hence there'll be a drop in share price. Even dividends per share will be much smaller because there'll be too many shares to pay feed dividends.

Share price trades at a relatively fixed multiple to it's earnings. EPS will be diluted and share price will also fall on that basis.

B. Kawan shares after all the painstaking accumulation over the years will be wasted if redistributed.
17/11/2018 10:44 PM
Cipta distribution of treasury share is not bonus issue. The total of share issued is not increase nor diluted EPS.
19/11/2018 9:57 AM
sheldon Actually the effect is like a bonus issue because what was once taken out of circulation is re-issued back to shareholders. The resultant earnings diluted because it is divided by a wider share base.
19/11/2018 4:50 PM
Cipta According to EMH, liquidity will increase the market efficiency. As we can see recently delisted few companies which has low P/E and share price below NAV.
Increase of EPS by cancelling treasury share may not transform to share price close to its actual value. However, distribute it as dividen (if 1 to 10 ratio) will increase its DIY and liquidity. It will create cash flow to shareholders as well.
21/11/2018 6:35 PM
LouiseS The EPS increased 19.7% compared to 2013.
04/12/2018 3:36 PM
sheldon A lot of share buybacks - that's a v good move!
10/12/2018 11:03 PM
Cipta positive way to think: the management view the current price is underestimate the co value.
11/12/2018 2:10 PM
sheldon Also if the co which we own are buying, it's something like we're buying the shares ourselves.
11/12/2018 4:31 PM
Choivo Capital if you value KLK at market value, than yes, it is undervalued.

but i think KLK is way too expensive to begin with. I'll only buy it if it was 50% cheaper.

in which case, not that cheap anymore.
13/12/2018 6:47 PM
sheldon Choivo Capital if you value KLK at market value, than yes, it is undervalued.
but i think KLK is way too expensive to begin with. I'll only buy it if it was 50% cheaper.
in which case, not that cheap anymore.

If you're interested in KLK, then buy Batu Kawan - better value for the earnings
13/12/2018 10:43 PM
Rwkl Sheldon, Choivo is saying KLK is way overpriced and Bkawan is not too far behind.
Anyone going to the AGM.
10/01/2019 7:28 PM
NaasifBaik worth buy in bkawan?
18/01/2019 5:06 PM
neverlose how long can i hold bkawan for?
18/01/2019 5:38 PM
Weeah Wang worth to buy in bkawan?
24/01/2019 3:39 PM
matg Post removed. Why?
24/01/2019 3:45 PM
LouiseS The EPS fluctuated considerably in last five years, from 115 to 203 sen per share, PE around 15, ROE around 6.5% and dividend yield 3.29%

https://louisesinvesting.blogspot.com/2019/01/preliminary-screening-of-counters-with_25.html
26/01/2019 12:49 PM
sheldon There was a RM696m drop in AFS investment. It was clarified to me that the drop was due to decline in price of shares of a company listed on London Stock Exchange, invested by KLK.
19/02/2019 11:35 AM
Cipta Anyone here attend AGM? any story from there?
19/02/2019 5:28 PM
James Ng https://klse.i3investor.com/blogs/general/201242.jsp
[转贴] [BATU KAWAN BHD:如果毛棕榈油价格能够持续恢复,那么2019财政年度集团种植园的利润前景将会令人满意,预计巴都加湾的油脂化学业务将通过提高产能利用率和提高利润率来维持其业绩] - James的股票投资James Share Investing
06/04/2019 2:11 PM
VSOLAR Sailang Margin All In This company looks very interesting too me... But gearing seems a bit on the high side..
07/04/2019 12:45 PM
Sami_Value palm oil, if recovering will have a very broad +ve impact to our public pockets....last weekend, the FFB price was only at RM280/ton.
08/04/2019 8:21 AM
casion911 wqeawk
17/04/2019 5:14 PM
sheldon Interim dividend announcement around the corner
14/05/2019 3:42 PM
sheldon Wow! A great achievement! The company has reached almost the statutory limit of 10% in share repurchase.

I love this management!
26/10/2019 10:47 PM
Rwkl They were buying from $20 till all the way down to the current price.
With no more bullets, it will be interesting to see.......
14/11/2019 10:48 PM
sheldon Positive on EPS, all things being equal.

They are not permitted to buy any more.
19/11/2019 7:37 AM
sheldon I fear that this Co has all the ingredients to be taken private namely:

1) 10% of shares taken off the market making it cheaper
2) hardly any trading liquidity
3) under appreciated by the investors (i.e. cheap) - resulting that the major shareholder could acquire the Co for a song

We, the non-controlling interest would then have to give up this prized possession with little compensation
19/11/2019 3:40 PM
Fabien "The Efficient Capital Allocater" too illiquid to my liking

in situation like this, shareholders interest tend to be not taken care of. in other words, ignored
19/11/2019 4:18 PM
Rwkl I have always wondered how KLK are so richly valued compared to them. Well I suppose one can view insas and Imari in the same light
19/11/2019 8:54 PM
sheldon Rwkl - I see your point on KLK especially on PE basis but not so much on net asset/share basis relative to other plantation cos.

Despite that B. Kawan with its industrial chemical business & Oleochemical via KLK is quite attractive at today's prices.
20/11/2019 10:57 AM
sheldon Looks like someone's taking my advise really seriously. There's a bump in trading volume.
20/11/2019 3:19 PM
smallfishyu Batu Kawan Bhd’s net profit for the financial year ended September 30, 2019 fell to RM363.49 million from RM365.68 million a year ago.

Revenue declined 15.3 per cent to RM16.05 billion from RM18.95 billion previously, due to weaker performance from the plantation, manufacturing and industrial chemical division, it said in a filing with Bursa Malaysia today.


The group said the plantation segment posted a 19.3 per cent lower revenue of RM6.39 million impacted by weaker crude palm oil (CPO) and palm kernel (PK) prices, while manufacturing reported a 13.2 per cent lower revenue of RM9.19 million.
21/11/2019 3:05 PM
sheldon CPO prices have since increased by a big jump, which should augur well for cash levels and dividends.
24/11/2019 9:30 AM
sheldon My open letter, emailed to the senior management....

Dear Management,

Share Buyback
As a shareholder, I am very very happy with the Batu Kawan (BK) Management for removing 10% of issued shares. A lot of money, time & effort have been put in this endeavor. As you may be aware, the PE ratio is a relative constant for given company which in the case of BK is 13++.

Going forward, if the total earnings can be maintained, BK share price can be expected to rise which is good news for shareholders. It also means better ROE and dividends per share.

DRP - New Capital for what purpose?
The share buyback implies that BK has returned excess capital. Now with DRP the entire process will be reversed. There'll be a surplus capital coming out of the pockets of shareholders. Does BK need this extra money? What will this new capital be for? BK after all has over the years of existence been conservatively reinvesting a big chunk of yearly profits back into the business.

Perhaps there an intention to privatise BK?

Let's enjoy life
I certainly need the cash from dividends and I'm sure most of the shareholders also want this twice a year cash for enjoyment & settlement of bills. I'm aware I've a choice but I do not want it at the expense of diluting my stake. Dear major shareholders, please let's enjoy life and not plough-back every excess penny that you get.

Getting Richer Without DRP
At this current state of affairs without DRP, I can reasonably infer that going forward, the share price will appreciate for this well-run company by simply maintaining the earnings. Shareholders will get to spend the entire dividend money (or diversify and invest it another company) and without the concern of dilution.

Please do take note. If you have valid reasons for this, I'd like to hear it.

TQ
27/11/2019 5:43 PM
Cipta hi Sheldon, even senior management see your plea here they will pretend don't know unless you bring it up in the coming AGM for them to answer.
29/11/2019 4:04 PM
sheldon AGM not announced yet i understand
29/11/2019 10:53 PM