Icon. Another stingy company does not want to release more information of the company. If you look its acquisition few years back (> five years), Rsawit was actually bought many young plantation palm oil planted land. It's just you need to take more time to dig out those data.

Collecting at cheap price now especially Kulim-WC.

It's the temporary correction during uptrend unless dry weather spell and potential El Nino factors disappeared.

Kulim jumped into sea for bathing...to clean up dirt. It doesn't matter.

Strong support at 20 cents in fine tuning chart. Let see who would loose patient.

Big players wants to wipe out weak holders before moving to another level.

A part from improving in operation results of NBPOL, I would expect a foreign exchange gain in foreign currency loan given PNG-KINA against USD has been appreciated about 5% since 31 Dec 2013.

In fact, NBPOL was suffered loss in foreign exchange due to weakening PNG-KINA.

Extracted:

" Net Foreign Exchange Loss

The lower PGK-USD exchange rate has resulted in year to date currency losses of USD 24.9 million as compared to USD 12.0 million of currency gains in the same period last year.

The year to date net foreign exchange losses reported are comprised primarily of non-cash currency adjustments on the Group's US Dollar denominated loans. "

Information:

NBPOL is a large scale integrated industrial producer of sustainable palm oil in Australasia, headquartered in Papua New Guinea (PNG). It has over 78,000 hectares of planted oil palm estates, over 7,700 hectares of sugar cane and a further 9,200 hectares of grazing pasture; twelve oil mills; two refineries, one in PNG, and one in Liverpool, UK; and a seed production and plant breeding facility. The Company is listed on both the Main Market of the London Stock Exchange and on the Port Moresby Stock Exchange in PNG.

NBPOL is fully vertically integrated, producing its own seed (which it also sells globally), planting, cultivating and harvesting its own land, and processing and refining palm oil (both in PNG and the UK). It also contracts directly with its end customers in the EU and arranges shipping of its products.

NBPOL has high regard for the importance of its sustainability credentials and is active in proving its performance through its certification to ISO 14001 and its close involvement and support of the Roundtable on Sustainable Palm Oil ("RSPO"). The Company is a certified supplier of sustainable palm oil from its entire production base in PNG and Solomon Islands, under the RSPO guidelines.

I don't know the share price movement. If you look at Kulim's announcement of 4th quarter 2013 results under segmental information, NBPOL was actually suffered minor loss about RM 4 million back with RM 407 million turnover. I would expect NBPOL will contribute profit in coming quarter as CPO prices had been riding high recently.

Kulim's profitability is much depended on the performance of New Britain Palm Oil (NBPOL) which accounted about 60% of its entire turnover. Currently, Kulim holds 48% of ordinary shares in NBPOL.

When reviewing the performance of past 2 quarters, we understand that NBPOL was actually entered a forward contract to fixed the CPO prices for immediate next quarter. I would expect the performance of 1st quarter 2014 would be much better than the last quarter given forward contract CPO prices in the end of 3rd quarter was lower comparing with 4th quarter or about 8%.


Here's the extract notes from New Britain Palm Oil ( NBPOL's)'s quarterly announcement in year 2013:

3rd quarter 2013 reports:

" As at the end of September, the Group had 38,500 tonnes of CPO sold or priced forward into the fourth quarter at an average price of USD 853 per tonne. We are continuing with our established forward selling strategy where we believe it can deliver the best prices for the Group and have since added 29,000 tonnes at an average price of USD 886 per tonne, as well as 35,000 tonnes into 2014 at USD 905 per tonne."

4th quarter 2013 reports:

" As at the year end, the Group had made forward sales of CPO of approximately 76,000 tonnes of its 2014 production at an
average price of USD 922/tonne; as at 21 February 2014 the forward sales of CPO of the Group were approximately 121,000 tonnes at an average price of USD 927/tonne "

Tossing a coin is a simple way for investment or punting. It depend on the timing you do it. If you are able to identify the trend of an industry and follow by tossing a coin to decide which company to invest/punt, you would still laugh all the way to the bank.

It's considered cheap if you invest for longer term comparing with other plantation companies. U can't expect the company to generate big profit immediately. But the company is on the right track to make more money as its young mature palm oil would contribute substantially in future. That's why there are not many seller at this time even though the price has gone up by more than 20%. They know the future value of the company. In the next 3 years, it would offer a good returns provided CPO price stay at reasonable level.

icon. Your write-up is powerful man. There is one guy only selling peanut at 2.10.

I don't enjoy much abalone or bird nest. What I enjoy is treasure hunting. We will be able to hunt the treasure swiftly through sharing of information.

I am still doing homework on some property companies to get ready before the next property run.

I follow trend to invest ma. In fact, few months back, I thought plantation stocks would have gone Holland due to massive planting taken placed 2 to 3 years ago. The excess supply would flood the market this year onward. Who knows dry weather and potential El Nino joined the game. I have almost changed my entire portfolio structure. It is a very good opportunity to whack plantation counters now.

13132323. No comment. Both is almost reached the same valuation now.

Japan sees higher chance of El Nino this summer
http://www.reuters.com/article/2014/03/10/us-weather-elnino-japan-idUSBREA2908B20140310

Cepat's mature plantation area is about 7,696 hectare only & NIL immature area.

RIP

That's why the share price traded at low price. lol

My INNO stake is more than GLbhd. Haha

A laggard. It's share price had dropped for the past few months. It will follow the steps of other plantation counters soon.

Exactly. It is going to have a good show in 2 weeks time. Big boy are heavily armed and ready for launching missile. Breaking 24 cents is a peanut job. Don't underestimate their power.

Your dream come true soon cause it is ready to wear for showing to public. Everything just nice.

It's a good sign when you see something like a bra in the making.

People won't care much where is the plantation area and debt now. What they really care is CPO price movement. If CPO price is heading north, all plantation counters would follow suite.

Fabrication of chart is almost completing. Be prepared to take off.

Harlen's executive chairman is an 88 year old man. At such age, how he got ability to manage the business operation of the company. Operation has not returned to black even though the FFB production in final quarter was 34% higher than 3rd quarter 2013. It is better for him to step down. If I am not mistaken, he is still drawing 1.45 million salary and the total Directors remuneration about 4 million each year.

Harlen disposed its 2,410 hectares of plantation land in Sabah in year 2013. Their FFB production would be lower this year.

INNO's management team are more competent than Pinepac. Pinepac does not whole own the plantation business in Indonesia. Its operation keep making loss. Some more, I can't see their FFB growth for the past 2 years even though their young tree entering maturity stage. Don't really know how they take care the palm oil tree.

Plantation fever will continue so long as no raining in next 2 weeks. Of course, if no rain for more than 3 months, all palm oil trees would be dying.

I treat an investment as my own personal business. I prefer to evaluate the business performance at least 6 months ahead. Plantation business is much easier to do projection. It depends mostly on CPO price movement.

Recent performance of its plantation division:

Turnover:
31 Dec 13 - 10,322,000
30 Sep 13 - 8,465,000
30 Jun 13 - 6,290,000
31 Mar 13 - 4,441,000

Profit / (Loss) before tax:
31 Dec 13 - 3,085,000
30 Sep 13 - 3,038,000
30 Jun 13 - ( 132,000 )
31 Mar 13 - ( 1,562,000 )

EPS:
31 Dec 13 - 1.25 cents
31 Sep 13 - 1.41 cents
30 Jun 13 - ( 0.13 cents )
30 Mar 13 - ( 0.89 cents )

By looking at current PER, it would scare you off from investing in plantation counters. Current share prices are not truly reflected the potential of windfall profit to be generated from dry weather. The prices would be seen even higher by the time you notice the PER drops to reasonable level in future.

Great write up. Hefty FFB production growth is started from this year onward to achieve at least 20% CAGR for the next 4 years.

Clapping for his brilliant results by outperforming majority of fund managers.

Miketyu. Exactly. Wakaa

Great. This is an unpolished gem.

It is time to strike back after being suppressed long period.

Kulim's share price had been trending downward for the past few quarters due to its lackluster financial performance. It's considered as a laggard since many plantation counters have reflected positively in share price when CPO price raised sharply recently.

SMI has substantial interests in Asiapac. If Asiapac up, SMI would follow suit. It is still run by the 70 year old uncle of Ma Sau Cheong. Quite enjoying life by sitting on the board and drawing million salary each year.

I normally don't like a company to exercise a right issue requesting money from minority. I would ask myself where the substantial shareholders get the big chunk of money to subscribe the share.

This Asiapac will attract big goreng kaki. It's not an illiquid penny which you have to wait long time until some big players notice. It on the right track given the consolidation supported at 20 cents level.

I am a small fly so have to sitting tight watching the game.

Stockpiles in Malaysia continue dropping. http://www.theedgemalaysia.com/business-news/278908-palm-reserves-in-malaysia-dropping-to-five-month-low-on-output.html

It must be included in P/L through sharing of Associate profit/loss.

Ivory would need more cash to finance its projects. They may call for another round of right issue. It is very unlikely to go for private placement since the amount of money raised may not justify for such exercise.

Patient is the way to earn big money from a good fundamental company. I don't think my opportunity cost is high by investing in Asiapac.

New Britain Palm Oil (NBPO)

FFB production of NBPO is expected to be higher in year 2014 given majority ( 55% ) of its planted area entering prime stage of harvesting. Young mature area ( 3 to 7 years ), representing 26%, would yield higher FFB as partial of the areas are almost entering prime stage.

Total Planted: 78,343 hectare
Mature area: 66,746 hectare
Immature area: 11,597 hectare

Palm oil age profile (Year 2012):
Mature - PNG - > 18 12,968
Mature - PNG - 13 to 17 14,599
Mature - PNG - 8 to 12 21,786
Mature - PNG - 3 to 7 17,393
Immature 11,597

Be patient. It takes a bit time for big players to fabricate technical graph looking bullish.