（瓜拉雪兰莪13日讯）原产业部长郭素沁驳斥关于印度呼吁抵制大马棕油的报道，因为从几次讨论中得知，印度棕油买家反而是希望大马增加原棕油出口。

她出席大马永续棕油（MSPO）认证讲解会及与雪州油棕种植者对话后，回答记者的问题。



记者是问及最近有报道指印度抵制大马棕油，她反问：“什么抵制？他们只是希望我们（大马）出口更多的原棕油，并减少精炼棕油的出口。” 。

出席活动还包括大马棕油局（MPOB）总监阿末巴维斯博士和大马棕油认证理事会（MPOCC）总执行长周日升。

https://d.maybank-ib.com/template-deployer/dsmibbmy/C1456247153818/48a9eb0dae4e47a89758980780466653/index.htm?q=hedbADEgho8rVbi9Yjh3sMveL6353QaheAOHiv0odHQ

India new retriction may hit sop downstream.
But whether indo has to capacity to support india demand or not to be seen.

KLK by public invest research
Its cost of production in FY19 rose 6% y-o-y to RM1,456 per tonne excluding palm kernel contribution, due to the minimum wage hike’s impact in Malaysia (+9%) and Indonesia (5% to 7%). The management expects a flat to slight increase in the cost of production this year likely due to similar reasons. It has locked in nearly 50% of its FY20 budget for fertiliser application at a steady level.

SOP by Maybank invedtment
Cost cut and mechanisation lowered production cost We estimate SOP’s 9M19 all-in cost of production for its upstream ops at MYR1,665/t (-8% YoY). We understand the lower YoY cost was due to cost cutting measures undertaken and introduction of more mechanisation to counter rising wage bills. As for fertiliser, we understand SOP has applied ~90% of its full-year fertiliser requirement in 9M19 (9M18: ~85%).

Sarawak CM want state owned company turn to be efficient company else no bonus for the staffs and management teams. SOPB has been doing from normal to great...after managed reduced productiom cost to 1.68K per tonne. KLK at 1.4K+

Other tech traded at 30+pe.
Mpi should at least looking at 25pe

Yes. Good and congraz all sop holders

10 to 11

Refinery exporter can also avoid levy win win being intergrated planter + cost rationaliazation than havnt not seen in past 10 yrs. I believe this year sop will give good dividend. State govern will wan sopb to continue doin well and sustainable so that they can consistently receive dividend year over year.

Please also visit sopb website if you guys have not been doing so. Their web will impress your.

Sop will benefit

Yes. No more hankypanky things inside sop.
Yield after transformed

They do have clue on the commodity price but unless the level of cpo is sustainable. Then they will start to factor in in their report. Otherwise u will see the changes in tp very often perhaps on monthly basis.

Indo levy favor malaysia cpo price

Now still singer digit pe for 2020.

If stay at this cpo for 2020. Profit will hit 300m

1st SOP is an efficient planter now compared in 2017
2nd SOP lack of retailers, will slowly move up amd steady
3rd SOP is an fully intergrated + sustainable palm oil

300M

Cost cut and mechanisation lowered production cost We estimate SOP’s 9M19 all-in cost of production for its upstream ops at MYR1,665/t (-8% YoY). We understand the lower YoY cost was due to cost cutting measures undertaken and introduction of more mechanisation to counter rising wage bills. As for fertiliser, we understand SOP has applied ~90% of its full-year fertiliser requirement in 9M19 (9M18: ~85%).

https://www.linkedin.com › pulse
Biggest Card Interchange Fee Reduction in Malaysia - LinkedIn

What would revenue valuation look like if revenue force to reduce their mechant transaction charges from 1.5% to 0.1% to 0.4%...

Yes. SOP profit will hit record high possible to break 300m

Have to ask yourself one question...if the rf division is so good why broadcom want to sell now instead if later after5g......broadcom ceo very good in m&a nvr undermine his vission...competition coming...sequeue profit.

What a remarkeble transform over last 8 years.

You can read his research...this interview very brief

Require more time to collect

Looking forward to see sop hit 300m for 2020

https://www.klsescreener.com/v2/news/view/608174

Indonesia aims to start making green diesel in 2022
DEC 4, 2019 08:28 AM
[JAKARTA] Indonesia plans to start producing green diesel from palm oil in 2022, with output estimated at 3.7 million kilolitres, a senior official in the Energy and Mineral Resources Ministry said on Tuesday.

Indonesia, the world's largest palm oil producer, wants to develop green diesel, a second generation biodiesel. It currently uses biodiesel made from fatty acid methyl ester (FAME) from palm oil, which is blended with fossil fuel.

Green diesel can be made by refining fossil crude oil and palm derivatives together in a single process, or refining palm oil in dedicated refineries.

FX Sutijastoto, director general of renewable energy at the ministry, told a parliamentary hearing his estimate of 2022 production was based a on business plan by Indonesia's state energy company PT Pertamina, although further studies were needed.

Pertamina is planning to develop refineries which can produce diesel from palm oil. Mr Sutijastoto said there seven companies were interested in building refineries to produce green diesel, including Wilmar International, a Singapore-based agribusiness firm.

By 2024, Indonesia should be able to increase production to 6.1 million kilolitres, according to ministry data presented to Parliament.

From January, the country is set to bring in the mandatory use of B30 fuel, a biodiesel with 30 per cent FAME blend. It would be expanded from the current 20 per cent bio-content.

The B30 programme has sparked palm price rally in recent months due to concerns that Indonesia will have less palm oil to export.

Indonesia is expected to consume 10.1 million kilolitres of FAME in 2022, ministry data showed on Tuesday.

President Joko Widodo sees the biodiesel programme as a way of offsetting a current account deficit caused by large energy imports, while also supporting demand for palm oil, one of Indonesia's main commodity exports.

Mr Joko has asked for further expansion of the biodiesel programme and ordered studies on mixing palm-based fuel with jet fuel.

REUTERS

Be patient

cost cutting messure and automation can help SOP save about 40M p.a. on top of additional rm100 cpo can contribute about PBT 30M p.a. to SOP

at 2600 to 2700 one quarter at least 55M

Result Review:
Sarawak Oil Palms Results above expectations

HOLD | RM 2.98 ▲

SOP’s 3Q19 PATAMI increased 74% to RM30.9m due mainly to margin improvement in plantation segment on higher production and improved palm products sold. On qoq basis, PBT increased more than 30 times to RM43.2m as higher production and transacted products volume helped to mitigate a weak ASP realised of PK products.

3Q19 saw both FFB and CPO production increased by 29% to 395K MT and 123K MT respectively, with PK production rising 36% to 27k MT. On the other hand, ASP realised of palm oil increased marginally by 1% to RM2,077/MT while palm kernel dropped 3% RM1,394/MT

9M19 profit was above ours and consensus’ estimates. Nonetheless, during the period, PBT was down by 38% as revenue slipped 20% to RM2.05bn. The decline in ASP realised and lower palm products volume, aided by weak other operating income of RM10.5m (-65% yoy) and lower margin from property segment contributed to the lower results.

Maintain HOLD with new TP of RM2.98 (RM1.98 previously) based on target P/B of 0.8x and 2-years average BV/share of RM3.72. We have revised our FY19 and FY20 earnings forecast higher to RM56.3m and RM79.1m respectively from RM20.7m and RM48.4m previously, as we adjusted our assumption on costs of sales and operating expenses lower.

Cost cut and mechanisation lowered production cost We estimate SOP’s 9M19 all-in cost of production for its upstream ops at MYR1,665/t (-8% YoY). We understand the lower YoY cost was due to cost cutting measures undertaken and introduction of more mechanisation to counter rising wage bills. As for fertiliser, we understand SOP has applied ~90% of its full-year fertiliser requirement in 9M19 (9M18: ~85%).

By mib

Finally cost cut measure taken by sop...very positive sign

Q3 2019 result just released

https://en.tempo.co/read/1276175/pertamina-set-to-distribute-b30-biodiesel-fuel

If cpo hit 3000 sop earnings will beyond 300m

Yes. Enning22 is right. But we invest this share beyond the current quarterly result. Share price always ahead and reflect the future earnings

no idea...mib's earnings projection for 2020 and 2021 is RM98M (based on RM2.3K per tonne) and RM159M (based on 2.4K per tonne) respectively.
so you figure out yourself.

Now RM2.7K/tonnes

TP RM2.9 based on 17x 2020 PER (with RM2.3K/T for 2020)

Every rm100 increase in cpo. Will ads rm30m to sop earnings

https://themalaysianreserve.com/2019/11/14/local-biodiesel-demand-reaches-record-levels-boost-to-cpo-price/

MUMBAI (Nov 14): Indian refiners have resumed buying Malaysian palm oil after a gap of nearly a month and contracted around 70,000 tonnes of shipments in December as Kuala Lumpur has been offering a US$5 per tonne discount over supplies from rival Indonesia, five traders told Reuters on Thursday.

The resumption in purchases by India, the biggest buyer of Malaysian palm oil this year, could support Malaysian palm oil prices, which are trading near their highest level in two years.

Indian refiners stopped purchases from Malaysia last month fearing New Delhi could raise import taxes or enforce other measures to curb imports after Kuala Lumpur criticised New Delhi for its actions in Kashmir.

Malaysian palm oil is available at a US$5 discount amid congestion at Indonesian ports, said a Mumbai-based dealer with a global trading firm. "This is giving a few buyers a reason to start buying Malaysian oil in small quantities to run their refineries."

2500 profit 160m 2600 profiy 190m 2800 profit 250

Further to the Company’s announcements made on 20 November 2017, 23 November 2017, and 27 June 2019, the Board of Directors of Kelington wishes to announce that its 97.2% owned subsidiary, Ace Gases Sdn Bhd has on 23 October 2019 commenced the liquid carbon dioxide production with an annual production capacity of up to 50,000 tonnes at the LCO2 Plant located at PT 21896, Kawasan Perindustrian Lot P, Mukim Kerteh, 24300 Daerah Kemaman, Terengganu.

This announcement is dated 23 October 2019.

Kelington Group Bhd
(Oct 2, RM1.32)
Maintain buy with an unchanged target price (TP) of RM1.68: Kelington Group Bhd’s (KGB) financial year 2019 (FY19) earnings look to be on track (first half of 2019 [1HFY19] earnings have already exceeded that for 1HFY18); we expect order book replenishment to match 2018’s level on a softer business environment. Work activities from China are expected to gain traction from 2H19. Separately, the liquid carbon dioxide (LCO2) plant will commence production by end-October, which should further enhance earnings visibility for the group and could drive a dividend per share and valuation rerating.

The slowdown in China’s semi-conductor fabrication spending is expected to turn around from 2H19. Over the past few quarters, KGB was able to sustain its earnings with more robust work activities in Singapore, which also garnered higher margins compared to other regions. The Taiwan operation is also expected to turn around in FY19 after securing its first solar project, with a 15–16% net profit margin.

KGB has already secured customers for 30% of its LCO2 capacity, mostly from cylinder refillers, and will be able to break even at this level of utilisation. The management targets to market the product beyond canister refillers to canned beverage producers. Furthermore, it has also begun looking to export KGB’s products by setting up storage tanks in Singapore for distribution. The plant is now guided to commence operation by end-October at the latest, after seeing a slight delay relating to the installation of the water pipes and power supply. We expect the overall group profit margin to improve once the plant starts up as industrial gas margins are higher at 30% versus 16–17% for the current business.

We maintain our “buy” call and TP at RM1.68, based on a 16 times calendar year 2020 price-earnings ratio. We believe KGB is a good proxy to ride on the recovery in the semiconductor capital expenditure cycle and we like its strong net cash balance sheet of RM70 million (23 sen per share) and its upcoming industrial gas business model. Downside risks to our “buy” call include a continuous slowdown in global semiconductor spending, and deterioration in existing business margins. — Affin Hwang Capital, Oct 2

Integrated engineering solutions provider, Kelington Group Berhad (“Kelington” or “Group”) is pleased to announce the opening of its new fabrication facility in Suzhou-Chuzhou Modern Industrial Park, China.

The 37,458-square-foot facility will be operated under the Group’s wholly-owned indirect subsidiary, KE System Integration (ChuZhou) Co. Ltd. The fabrication facility will be mainly involved in Engineering, Procurement, Construction and Commissioning (“EPCC”) of process systems for the electronics industry and fabrication of own-brand Ultra High Purity (“UHP”) gas and chemical delivery equipments.

The grand opening ceremony was graced by Mr. Hai Huang, Deputy Head of Chuzhou Investment Promotion Bureau, Mr. Li Da Ming, Deputy Director of Management Committee for China-Singapore Suzhou and Chuzhou High-Tech Industrial Development Zone and Mr. Xu Pei Chang, Deputy Secretary of China-Singapore Suzhou and Chuzhou High-Tech Industrial Development Zone.

Ir. Raymond Gan, Chief Executive Officer of Kelington Group Berhad said, “We have been operating in China since 2002 and today, China is one of our key international markets. Revenue from China represented 30% of the Group’s revenue in the first six months ended 30 June 2019.”

“This new setup is strategic for the Group as it allows us to further expand our pool of customers, including those from the electronics industry. In addition to that, our scope of services and capabilities will be broadened to handle more complex UHP projects such as handling the delivery systems for special gases.”
“We will be manufacturing our own design UHP equipments for our operations as well as offering it to other customers. This will lead to higher cost savings and better quality control, enhancing our operational efficiencies and cost competitiveness in China. We believe this will accelerate our growth trajectory within China, bolstering our UHP services and market share there.”

Moving again

Commentary Of Prospects The Group’s outlook remains bright on the back of strong replenishment of projects, while we look forward to the commencement of our new business division, manufacturing of liquid carbon dioxide. Wecontinue to gain traction in our project flow as we clinched an addition RM81 million worth of projects in 2Q2019, boosting our total new project orders to RM227 million in FY2019. A large bulk of the project orders is from the UHP and Process Engineering division. Inclusive of carried forward projects, Kelington’s total orderbook grew to RM486 million, of which RM312 million remains outstanding. We expect the Group’s performance to continue be driven by the UHP division in Singapore and China in FY2019. Furthermore, the Group made encouraging progress in its expansion plans for the Industrial Gases division. The commissioning of the manufacturing of liquid carbon dioxide (“LC02”) business is on track, with production expected to commence this year. We anticipate positive contribution from this new business from FY2020 onwards. The Group’s key operations outside Malaysia, which are Taiwan, China and Singapore are carried out in the respective local currencies of those countries. Hence, the Group enjoys a natural currency hedge, and this minimizes the Group’s exposure to the fluctuations in the currency markets.

Great result and there was 81m of projected awarded in 2Q2019...albeit no annoucement....with totalling of rm227m of new project awarded in 1h2019...