Highlights
KLSE: SWKPLNT (5135)       SARAWAK PLANTATION BHD MAIN : Plantations
Last Price Today's Change   Day's Range   Trading Volume
2.12   -0.11 (4.93%)  2.08 - 2.23  568,700
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Financials


Market Cap: 594 Million

Market Cap 594 Million
NOSH 280 Million

Latest Audited Result:  31-Dec-2019

Latest Audited Result: 31-Dec-2019
Announcement Date 29-Jun-2020
Next Audited Result: 31-Dec-2020
Est. Ann. Date: 29-Jun-2021
Est. Ann. Due Date: 29-Jun-2021

Latest Quarter:  30-Sep-2020 [#3]

Latest Quarter: 30-Sep-2020 [#3]
Announcement Date 20-Nov-2020
Next Quarter: 31-Dec-2020
Est. Ann. Date: 18-Feb-2021
Est. Ann. Due Date: 01-Mar-2021
QoQ | YoY   0.67%  |    278.09%

Annual (Unaudited) ( EPS: 7.47, P/E: 28.38 )

Revenue | NP to SH 347,528  |  20,918
RPS | P/RPS 124.12 Cent  |  1.71
EPS | P/E | EY 7.47 Cent  |  28.38  |  3.52%
DPS | DY | Payout % 0.05 Cent  |  0.02%  |  0.67%
NAPS | P/NAPS 1.97  |  1.07
YoY   87.12%
NP Margin | ROE 5.95%  |  3.79%
F.Y. | Ann. Date 31-Dec-2019  |  18-Feb-2020

T4Q Result ( EPS: 19.07, P/E: 11.11 )

Revenue | NP to SH 442,450  |  53,406
RPS | P/RPS 158.02 Cent  |  1.34
EPS | P/E | EY 19.07 Cent  |  11.11  |  9.00%
DPS | DY | Payout % 5.03 Cent  |  2.37%  |  26.39%
NAPS | P/NAPS 2.08  |  1.02
QoQ | YoY   36.77%  |    297.96%
NP Margin | ROE 12.19%  |  9.16%
F.Y. | Ann. Date 30-Sep-2020  |  20-Nov-2020

Annualized Result ( EPS: 21.30, P/E: 9.95 )

Revenue | NP to SH 444,701  |  59,641
RPS | P/RPS 158.82 Cent  |  1.33
EPS | P/E | EY 21.30 Cent  |  9.95  |  10.05%
DPS | DY | Payout % -
NAPS | P/NAPS -
QoQ | YoY   18.29%  |    265.36%
NP Margin | ROE 13.59%  |  10.23%
F.Y. | Ann. Date 30-Sep-2020  |  20-Nov-2020



Business Performance

Business Performance (By Quarter)

Trailing 4 Quarters Trailing 8 Quarters
Available Quarters 4 Quarters 8 Quarters
Continuous Quarters Of Revenue Growth 1 / 4 25.00% 1 / 8 12.50%
Total Positive Profit Years 4 / 4 100.00% 8 / 8 100.00%
Continuous Quarters Of Positive Profit 4 / 4 100.00% 8 / 8 100.00%
Continuous Quarters Of Profit Growth 2 / 4 50.00% 2 / 8 25.00%
Continuous Quarters Of Adjusted EPS Growth 2 / 4 50.00% 2 / 8 25.00%
Total Dividend Years 2 / 4 50.00% 3 / 8 38.00%
Continuous Quarters Of Dividend 1 / 4 25.00% 1 / 8 12.50%
Continuous Quarters Of Dividend Growth 0 / 4 0.00% 0 / 8 0.00%
Continuous Quarters Of Adjusted Dps Growth 1 / 4 25.00% 1 / 8 12.50%
Average ROE 2.35% 1.48%
Average Net Profit Margin 12.10% 8.11%

Business Performance (By Year)

Last 5 Financial Years Last 10 Financial Years
Available Years 5 Years 10 Years
Continuous Years Of Revenue Growth 1 / 5 20.00% 1 / 10 10.00%
Total Positive Profit Years 4 / 5 80.00% 9 / 10 90.00%
Continuous Years Of Positive Profit 2 / 5 40.00% 2 / 10 20.00%
Continuous Years Of Profit Growth 2 / 5 40.00% 2 / 10 20.00%
Continuous Years Of Adjusted EPS Growth 2 / 5 40.00% 2 / 10 20.00%
Total Dividend Years 3 / 5 60.00% 8 / 10 80.00%
Continuous Years Of Dividend 2 / 5 40.00% 2 / 10 20.00%
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 2.21% 5.72%
Average Net Profit Margin 3.60% 8.01%

Key Result

Key Result

T4Q Annualized Annual (Unaudited) Last 10 FY Average Last 5 FY Average
Revenue 442,450 444,701 347,528 377,801 355,138
NP to SH 53,406 59,641 20,918 32,861 13,070
Dividend 14,091 37,204 139 15,486 2,571
Adjusted EPS 19.07 21.30 7.47 11.74 4.67
Adjusted DPS 5.03 13.29 0.05 5.53 0.92

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 40.85% 46.69% 39.78% 24.06% 42.51%
NP to Owner 0.67% 278.09% 265.36% 46.21% 133.69%
Dividend 0.00% 0.00% 19,900.00% 296.04% 684.30%
Adj. EPS 0.67% 278.09% 265.36% 46.21% 133.69%
Adj. DPS 0.00% 0.00% 19,900.00% 296.04% 684.30%

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 27.31% 24.59% 17.11% 27.96% 25.22% 17.71% 11.82% -2.14% -8.01%
NP to Owner 155.31% 308.59% 62.52% 185.12% 356.29% 81.49% 87.12% 60.04% -36.35%
Dividend 10,000.05% 447.88% -9.01% - % - % - % -0.19% -94.58% -99.10%
Adj. EPS 155.31% 308.59% 62.52% 185.12% 356.29% 81.49% 87.12% 60.04% -36.35%
Adj. DPS 10,000.05% 447.88% -9.01% - % - % - % -0.19% -94.58% -99.10%

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

Analyze this stock with MQ Trader system
  ecching5519 likes this.
 
JuYeoh Bullish Palm oil indices
1) Palm oil MCup+ 139.25
2) Plantation up + 69.3
3) FBM Asian palm oil -MYR up+145.3
4) FBM Asian Palm oil - USD up+ 52.34
12/11/2020 3:33 PM
JuYeoh Malaysian Palm oil - Trading at rm 3391.yesterday 12/11/2020 ( Info by MPOC) Well Done !!
13/11/2020 10:31 AM
JuYeoh Hopefully Palm oil price will surpass RM 3400 /MT
13/11/2020 10:41 AM
i3gambler Total Planted Estate = 35,076 Ha
Share Qty = 279,032,200
Share Price = RM2.130
Market Cap. = RM594,338,586
Total non-current liabilities = RM174,307,000
Total current liabilities = RM131,141,000
Non-controlling interests = RM10,470,000
Total current assets = RM153,188,000
Total Milling Capacity = 120 mT/hour
Total Milling Assets = RM30,000,000 (Assume 250,000 per mT/hour, it is close to the item "Property, plant and equipment = RM282,225,000" in the Balance Sheet. For comparison, CB INDUSTRIAL PRODUCT HOLDING BERHAD (CBIP) built a new 45 mT/hour Mill in Kalimantan at a cost of around RM1 million per mT/hour)

Enterprise Value (EV) for Planted Estate
= 594,338,586 + 174,307,000 + 131,141,000 + 10,470,000 - 153,188,000 - 30,000,000
= RM727,068,586

EV / Planted Estate = RM20,728 / Ha

For comparison, on 20th October 2020, FGV HOLDINGS BERHAD (FGV) issue an official statement and mention in it that "Replanting expenses for the 15,000 hectares were in the range of RM300 million per annum".
Wow, FGV's replanting cost alone already RM20,000 / Ha,
SWKPLNT's EV / Planted Estate is only RM20,728 / Ha.

Now, look from the point of FFB Production,
Latest 12 months FFB Production = 338.502 mT
EV / Annual FFB = RM2,148 / mT
14/11/2020 5:25 PM
i3gambler Another comparison on Estate EV / Ha.
Kim Loong announced on 19th Feb 2020, that they were buying Planted Estate in Sandakan at a price of RM80,000 per Ha.
Wow, a price of almost 4 times of SWKPLNT's EV / Ha of RM20,728.
16/11/2020 10:33 AM
qetuoadgjl96 Why this counter no volume?
17/11/2020 3:54 PM
Dakewlest Furthermore, Maybank IB is anticipating a strong recovery in palm oil output next year.
17/11/2020 4:00 PM
Dakewlest Bought today. Hopefully can go above RM2.50 soon.
17/11/2020 4:03 PM
Dakewlest https://www.thestar.com.my/business/business-news/2020/11/13/tight-supply-set-to-support-cpo-price?utm_source=smt&utm_medium=email&utm_campaign=BNL_November_17&utm_content=third_article+&__sta=vhg.hhksexov0sj_foj%7CTBVI&__stm_medium=email&__stm_source=smartech
17/11/2020 4:04 PM
i3gambler My guess on the 3rd Quarter EPS is 3.9 sen excluding any one off gain/loss.
18/11/2020 3:40 PM
Dakewlest Result is out. 5 sen dividen.
20/11/2020 5:35 PM
Minagrace Superb result. EPS 7 cents. So nice
20/11/2020 6:02 PM
Minagrace 3Q20 EPS already 16 cents. With CPO now trading at 3300. Full year 23 cents sap sap sui. If PE 10 = RM 2.30. Buy more Monday.
20/11/2020 6:13 PM
ZacYXZ @i3gambler exclude one off gain EPS after tax is still 5.6 cents! flying results!
20/11/2020 6:15 PM
Dakewlest Pe10 rendah sangat kan?
20/11/2020 6:27 PM
i3gambler Good result.
And surprisingly another 5 cents dividend, really Good!
20/11/2020 7:59 PM
chshzhd very good
20/11/2020 11:36 PM
chshzhd cpo price rise rise rise .. but oil palm shares "dare not" to wake up:)
.. the volcano is going to explode :) 火山要爆发了:) gunung berapi akan meletup:)
20/11/2020 11:41 PM
Dakewlest Beli sebelum gunung berapi meletup.
21/11/2020 1:38 AM
CAWALLUK Now one of the highest dividend plantation shares ... should reach RM2.50 before Christmas.
21/11/2020 4:08 AM
LongTermInvestor8 Will the market crash if budget 2021 cannot be passed this coming Thursday (26/10/2020)? These are the 4 possible scenarios:

1. Parliament will be dissolved and a snap election will be called
2. A state of Emergency in the whole country will be declared by YDPA
3. Muhyiddin will resign and YDPA will appoint an interim PM
4. YDPA will appoint a new PM who has majority MPs support. A new budget 2021 also will be tabled by the new appointed PM.

Will the market go down? Will it crash? Take profit now or wait?
22/11/2020 11:26 PM
8888_ DY better than FD why not wait?
23/11/2020 9:10 AM
i3gambler I read the report by Public Bank analyst just now, it said SWKPLNT management target for 18% increment on FFB production for 2021. I guess the company would pay 5 cents dividend for every quarters.
23/11/2020 12:38 PM
Dakewlest Please share the report. Thank you.
23/11/2020 12:44 PM
i3gambler You can download from this website.
23/11/2020 12:59 PM
vcinvestor public bank always has a hardon for this stock - 18x P/E valuation! for such a thinly traded counter!!

lets take their TP with a pinch of salt la, RM2.80 (their valuation in 2019) also considered quite good already
23/11/2020 3:07 PM
Hidup_PN TP RM 3.15?
24/11/2020 10:01 AM
i3gambler It is very easy to estimate SWKPLNT profit, because the reporting by the company is very detailed.

The management has targeted FFB production growth of 18% to 415k mt for FY21.

With 415000 mT over 35076 Ha, it is only 11.8 mT / Ha, it is still below the norm of 15 mT / Ha in Sarawak. For comparison, it is about 15 mT / Ha for JTIASA, TAANN and SOP now.

SWKPLNT production was low before year 2018, TAANN bought 30.5% equity and joined in the management, bring along their experience from TAANN, FFB production improving very much since then.

With 415,000 mT in 2021 and CPO at RM2500, SWKPLNT should be able to earn RM0.26 per share.

I guess that was why the management wanted to pay another 5 cents dividend for Q3, I guess from now onwards they would pay 5 cents for every quarter or total 20 cents a year.

The balance sheet of Q3 is so good, Net borrowings (Loan / borrowings minus Cash and cash equivalent) is only 18.4 million, very much lower than previous quarters / years. In fact the Finance Income is higher than Finance costs by 160K for Q3.

There is no need to keep much cash in the company, TAANN would get return of investment by receiving dividend from SWKPLNT.
24/11/2020 4:22 PM
chshzhd Meanwhile, management has set an aggressive FFB production growth target of 30% YoY to 364k mt this year (vs our full-year target of 346k mt) on the back of yield improvement from the enhancement area transferred to harvestable area. For Jan-July, it jumped 31% YoY to 188,208mt and we expect to see a stronger growth in the subsequent months. Management expects lower production lower in the coming months on the back of higher production yield. It expects full-year cost of production to average at RM1,650/mt. Manuring activities have slowed down in 2Q but it picked up since 3Q. Given the recent strong CPO price performance, management has locked in forward sales of 4,000mt for Aug delivery at RM2,760/mt. It also has an outstanding forward sales of 1,000mt/mth at RM2,360/mt. On the encumbered area, it is currently finalizing the recovery of 400ha in the central region. Meanwhile, it also declared 586ha new enhancement area after being transferred from the encumbered area, bringing the total enhancement area to 2,992ha as of end-June 2020. During the quarter, 425ha was replanted. Harvestable area totaled 19,219ha while immature area stood at 4,553ha. ---Publicinvest 19/8/2020
25/11/2020 2:01 PM
CAWALLUK Public Bank's target of RM3.15 is encouraging, although they got one fact wrong, the dividend is now 10 cents for 2020, possibly 10-12 for 2021.
26/11/2020 4:46 AM
i3gambler Look for item "Segment cost of sales" = 26,357,000, page 15 of Q3 report.
Then sum up 3 months FFB production = 103,307mT for Q3, from Monthly Announcement,

Make x = 103,307, and y = 26,357,000,
Do the same for all quarters starting from Jan-Mar 2018.

So you will have total 11 points, make a xy chart.

Then apply/draw a trend line y=mx+c,

You will get m=RM158.7, and c=RM9,970,400.

You can use this y=mx+c to estimate the future profit from the estate operation.

Of course this will not be accurate, but at least better than nothing.
26/11/2020 8:30 AM
8888_ Dividend better than SOP though not price.
27/11/2020 8:00 AM
troy88 Nice. Plantation ending the year strong. Sawit bagus!
30/11/2020 9:54 AM
Minagrace First target 2.30 reached. Take some profit switch to Taann
30/11/2020 9:57 AM
Hidup_PN 3.15 TP(PBB) next year?
01/12/2020 11:42 AM
Keyman188 Keyman188 still can recall...


During 2014, when CPO average price was 2780, Plantation index was around 9400 level...


But as per today, CPO average price is standing 3350, Plantation index only 7349 (as per Friday closing) level...


So any CPO expert can guide this naive Keyman188 why so much different ???...


Perhaps CPO price gradually increased but overall oil palm planter companies unable to deliver great performance results !!!......
06/12/2020 12:14 PM
GPS_Sarawak 2.5-3 pls before Sarawak state election due 2021.
21/12/2020 2:49 PM
Sarawakians 2.5 no hope?
28/12/2020 10:54 AM
Sarawakians We give more seats to PN not Sabahans.
28/12/2020 10:55 AM
chshzhd inno taann sop are good , but this moment swkplnt is the best ..
07/01/2021 9:11 PM
chshzhd pbbank TP is reasonable
07/01/2021 9:13 PM
bluelight collect some
08/01/2021 4:57 PM
bluelight The growth in production, following the transformation in 2018, is a great achievement
This company keep growing until today, hope able to turn into net cash company soon
08/01/2021 5:09 PM
chshzhd good dividend too..
08/01/2021 10:53 PM
bluelight The total planted hectarage is 35,076 hectares (ha), representing 77% of the total land bank of 45,668 ha.
Any idea what is the planning for unplant area?
09/01/2021 12:02 PM
chshzhd IB today upgrade TP of other plantation counters ie hsplant ijmplant & tsh
12/01/2021 9:32 PM
sarawakian63 Why Swk Plant no upgrade or >2.3 hard?
13/01/2021 10:51 AM
sarawakian63 "Emergency" need to delay Sarawak state election not fight Covid19? Stock mkt bad is it?
13/01/2021 10:53 AM
freddiehero yes, 4.18 can..
13/01/2021 11:10 PM
chshzhd never mind .. i upgrade swk TP to 3.90 with forward eps 30 pe13 :)
13/01/2021 11:10 PM