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| KLSE: KRETAM (1996) | KRETAM HOLDINGS BHD | MAIN : Plantations |
| Last Price | Today's Change | Day's Range | Trading Volume |
| 0.41 |  -0.015 (3.53%) | 0.41 - 0.42 | 48,900 |
Financials
Market Cap: 954 Million
| Latest Audited Result: 31-Dec-2018
| Latest Quarter: 30-Sep-2019 [#3]
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Annual (Unaudited) ( EPS: -1.26, P/E: -32.56 )
| T4Q Result ( EPS: -1.36, P/E: -30.04 )
| Annualized Result ( EPS: -0.71, P/E: -57.78 )
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Business Performance
Business Performance (By Quarter)
| Trailing 4 Quarters | Trailing 8 Quarters | |||
|---|---|---|---|---|
| Available Quarters | 4 Quarters | 8 Quarters | ||
| Continuous Quarters Of Revenue Growth | 0 / 4 | 0.00% | 0 / 8 | 0.00% |
| Total Positive Profit Years | 1 / 4 | 25.00% | 2 / 8 | 25.00% |
| Continuous Quarters Of Positive Profit | 0 / 4 | 0.00% | 0 / 8 | 0.00% |
| Continuous Quarters Of Profit Growth | 1 / 4 | 25.00% | 1 / 8 | 12.50% |
| Continuous Quarters Of Adjusted EPS Growth | 1 / 4 | 25.00% | 1 / 8 | 12.50% |
| Total Dividend Years | 0 / 4 | 0.00% | 1 / 8 | 13.00% |
| Continuous Quarters Of Dividend | 0 / 4 | 0.00% | 0 / 8 | 0.00% |
| Continuous Quarters Of Dividend Growth | 0 / 4 | 0.00% | 0 / 8 | 0.00% |
| Continuous Quarters Of Adjusted Dps Growth | 0 / 4 | 0.00% | 0 / 8 | 0.00% |
| Average ROE | -0.53% | -0.44% | ||
| Average Net Profit Margin | -10.68% | -6.30% | ||
Business Performance (By Year)
| Last 5 Financial Years | Last 10 Financial Years | |||
|---|---|---|---|---|
| Available Years | 5 Years | 10 Years | ||
| Continuous Years Of Revenue Growth | 0 / 5 | 0.00% | 0 / 10 | 0.00% |
| Total Positive Profit Years | 3 / 5 | 60.00% | 8 / 10 | 80.00% |
| Continuous Years Of Positive Profit | 0 / 5 | 0.00% | 0 / 10 | 0.00% |
| Continuous Years Of Profit Growth | 0 / 5 | 0.00% | 0 / 10 | 0.00% |
| Continuous Years Of Adjusted EPS Growth | 0 / 5 | 0.00% | 0 / 10 | 0.00% |
| Total Dividend Years | 2 / 5 | 40.00% | 3 / 10 | 30.00% |
| Continuous Years Of Dividend | 0 / 5 | 0.00% | 0 / 10 | 0.00% |
| Continuous Years Of Dividend Growth | 0 / 5 | 0.00% | 0 / 10 | 0.00% |
| Continuous Years Of Adjusted Dps Growth | 0 / 5 | 0.00% | 0 / 10 | 0.00% |
| Average ROE | 0.13% | 5.11% | ||
| Average Net Profit Margin | 1.31% | 10.88% | ||
Key Result
Key Result
| T4Q | Annualized | Annual (Unaudited) | Last 10 FY Average | Last 5 FY Average | |
|---|---|---|---|---|---|
| Revenue | 349,458 | 366,281 | 510,473 | 350,375 | 474,694 |
| NP to SH | -31,767 | -16,517 | -29,311 | 21,351 | 2,765 |
| Dividend | 0 | - | - | 9,003 | 8,770 |
| Adjusted EPS | -1.36 | -0.71 | -1.26 | 0.92 | 0.12 |
| Adjusted DPS | 0.00 | 0.00 | 0.00 | 0.39 | 0.38 |
NP to SH = Net Profit Attributable to Shareholder, EPS = Earning Per Share, DPS = Dividend Per Share
All figures in '000 unless specified.
EPS & DPS's figures in Cent.
Growth
Growth (By Quarter)
| LQ QoQ | LQ YoY | CQ YoY | LQ vs Average of T4Q | LQ vs Average of T8Q | |
|---|---|---|---|---|---|
| Revenue | -2.96% | -34.24% | -36.95% | -4.04% | -30.47% |
| NP to Owner | 78.68% | 70.24% | -24.74% | 71.40% | 59.68% |
| Dividend | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Adj. EPS | 78.26% | 69.70% | -23.26% | 70.80% | 58.97% |
| Adj. DPS | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LQ = Latest Quarter, CQ = Cumulative Quarter, T4Q = Trailing 4 Quarters, T8Q = Trailing 8 Quarters, QoQ = Quarter on Quarter, YoY = Year on Year
Growth (By Year)
| T4Q vs LFY | T4Q vs AL5FY | T4Q vs AL10FY | AQR vs LFY | AQR vs AL5FY | AQR vs AL10FY | LFY YoY | LFY vs AL5FY | LFY vs AL10FY | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | -31.54% | -26.38% | -0.26% | -28.25% | -22.84% | 4.54% | -19.93% | 7.54% | 45.69% |
| NP to Owner | -8.38% | -1,248.73% | -248.78% | 43.65% | -697.29% | -177.36% | -270.02% | -1,159.92% | -237.28% |
| Dividend | 0.00% | 0.00% | 0.00% | - % | - % | - % | 0.00% | 0.00% | 0.00% |
| Adj. EPS | -7.94% | -1,247.42% | -248.28% | 43.65% | -699.02% | -177.41% | -270.27% | -1,163.05% | -237.38% |
| Adj. DPS | 0.00% | 0.00% | 0.00% | - % | - % | - % | 0.00% | 0.00% | 0.00% |
T4Q = Trailing 4 Quarters, T8Q = Trailing 8 Quarters, AL5FY = Average of Last 5 Financial Years, AL10FY = Average of Last 10 Financial Years, LFY = Latest Financial Year AQR = Annualized Quarter Result, YoY = Year on Year
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 o0o54088o0o he just purposely setup a new account and try convince us to said it worth at least 0.55..can believe?haha 20/06/2018 10:43 AM Victor Yong Proposed selling price to the acquirer was 92sen... after due diligence, cannot be about 50% of the proposed price, should be back to above 50sen gradually. Short selling has been banned for this stock , right? :) 20/06/2018 11:09 AM o0o54088o0o short sell only ban for the day when a stock plunged down drastically...next day resume short selling 20/06/2018 11:12 AM Victor Yong If short selling continues, then speculators will buyback before closing time..... fun to play daily :) 20/06/2018 4:29 PM hawhaw 46cent last 30 min eaten a lot , and some1 keep throw the share when going up to maintain price. looks got show next few day 20/06/2018 5:02 PM Wai Yoong the reason of the drop today was mainly due to short selling, so the price will be very likely to go up and the support level at 0.46 is so strong, indicating that the speculators still think that 0.46 is cheap to be bought over. 20/06/2018 5:27 PM apolloang what!!!sentiment so bad still the market cap above 1 bil? what is kretam worth so much? 21/06/2018 12:41 PM Jayden8 End of the month Umno election if Zahid becomes presiden, this counter shoot up? 26/06/2018 7:15 PM mastermarcus Some umno acc has been freeze. This counter is the only way to withdraw money...show time soon. Jayden8 u are right!!! 28/06/2018 10:30 PM Jeffreyteck Believe will drop to past low before news on M&A as industry and market remain weak. 29/06/2018 9:53 AM khpwwl Why suddenly wake up....thought this counter going to sleep mode on Monday 23/07/2018 3:06 PM klangkopitiam https://mymetastockjournal.blogspot.com/2019/01/kretam-holdings-bhd-klse-1996.html 06/01/2019 2:26 PM commonsense Kretam Holdings is not the only plantation company that posted bad 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 Kretam 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. If you are still interested in the plantation industry then you should try to look at other companies first (at least until Kretam is really on a stable footing). You will notice that most plantation stocks have fallen but PE valuation is still high. As I mentioned earlier, this is normal given that the industry cycle is currently at the bottom as reflected by the CPO price. It is better for you to do a PE calculation using an average 5 years PAT to take into account the cyclical nature of the industry. With this in mind you need to have a slightly long-term investment horizon when buying into oil plantation companies. If you are looking to diversify your portfolio outside of Kretam (due to its earnings uncertainties and bleak growth outlook) 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 RM10mil to 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. 25/01/2019 2:48 PM o0o54088o0o cpo is climbing,,kretam at such a low price..i will sell my underwear to buy this 13/02/2019 11:06 AM LouiseS KRETAM's main business segments include oil palm plantations and operation of oil palm mills and refinery. Its earning performance has been overall fluctuating in last five years, whereby its earning per share overall fluctuated from -1.66 sen to 0.87sen. In terms of revenue, a 21.6% drop was mainly attributed to the low palm products prices in 2018. As for the Group, it recorded a loss of RM38.5 million. The loss before interest and tax compared to revenue generated was a result of the downtrend in commodity prices, where products were sold at a lower profit margin. https://louisesinvesting.blogspot.com/2020/01/comments-on-kretam-holdings-bhd-1996.html 13/01/2020 7:05 PM  |
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