Malaysian palm oil price to 26-week high

KUALA LUMPUR: Malaysian palm oil futures reversed early losses on Thursday, rising more than 1 percent on expectations of positive news from the the European Union's (EU) decision on biodiesel anti-dumping duties.
The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange rose 1.4 percent to 2,782 ringgit ($661.12).
Traded volumes stood at 57,957 lots of 25 tonnes each at noon.
Palm rose by up to 2,796 ringgit a tonne during intra-day trade, the highest price in six-and-a-half months.
"It is possible the market is bullish about the EU's upcoming decision, expecting a cancellation or deferment of the anti-dumping duties, which would be good for biodiesel exports from Malaysia," a Kuala Lumpur futures trader said.
Palm slid in earlier trade as the market reacted to a strengthening ringgit . The currency has firmed over the past three days, rising 0.68 percent on Thursday and returning to its November levels.
A more expensive ringgit makes palm oil less attractive to foreign buyers of the tropical oil.
Soyoil's steady performance, meanwhile, is expected to suport palm prices.
Palm oil prices are affected by movements in other edible oils that compete for a share in the global vegetable oils market.
MIDF Research said in a report on Thursday strong soybean oil prices should limit the downside for palm oil despite high palm oil inventories.
"Ongoing concern on soybean production has kept the soybean oil price strong at above 35 cents per pound in the CBOT market and this is supportive to palm oil," the report said.
A Reuters poll among planters, analysts and traders showed that Malaysian palm oil August stocks are expected to rise towards the 2 million tonne mark, with output still close to its strongest in two years.
The Malaysian Palm Oil Board is due to release production and export data on Sept. 11.
The soybean oil contract on the Chicago Board of Trade was up 0.9 percent.
The January soybean oil contract on the Dalian Commodity Exchange was down 0.3 percent, while January palm olein fell 0.5 percent. - Reuters

Read more at http://www.thestar.com.my/business/business-news/2017/09/08/palm-jumps-to-26-week-high-on-optimism-for-eu-anti-dumping-vote/#KZkolA4voPwy1k8h.99

TP RM 6 on forecast 2017 EPS about 50 sen implying PE only 12.

MIDF TP RM 1.47.

Tune Protect - Expect Earnings Recovery In 2HFY17
Date: 22/08/2017

Source : MIDF
Stock : TUNEPRO Price Target : 1.47 | Price Call : BUY
Last Price : 1.15 | Upside/Downside : +0.32 (27.83%)

Back

Earnings below estimates
Lower PAT in 2QFY17 attributable to higher claim cost in Motor and soft demand from travel insurance business
Company’s initiatives showed solid progress
Travel insurance business is expected to recover by the end of FY17
Maintain BUY with unchanged TP of RM1.47
Earnings below estimates. The company recorded 6MFY17’s earnings at RM26.80m, which accounted for 35.4% and 37.7% of ours and consensus’ full year forecast respectively. However, we had expected 2QFY17 to be challenging. This led 1HFY17 earnings to decline by - 50.2%yoy. On quarterly basis, 2QFY17’s PAT declined by -54.6%yoy.

Higher claim cost in Motor. The drop in earnings was mainly driven by higher claim cost in motor segment. This led to the increase in company’s overall combined ratio of 94.7%, +23.5ppt higher than in 2QFY16. Travel insurance business continued its downtrend mainly due to the effect of MAVCOM’s opt-in ruling.

Positive growth in GWP. Despite the drop in earnings, 2QFY17’s GWP growth advanced +11.4%yoy, mainly driven by Motor, Offshore Oil & Engineering, and Travel from B2B in the Middle East Market. The overall take-up rate from Global Travel business segment trended marginally higher, +0.2ppt sequential increase to +9.9% in 2QFY17. Management expected the rate to reach 15.0% in 2HFY17, as it extended its product bundling to more markets starting in the 3QFY17.

Partnership with Cambodia Angkor Air. The company secured its 4th airline partnership with Cambodia Angkor Air. It is slated to commence in 3QFY17, and expected to contribute higher premium income to the company’s overall Global Travel business. Additionally, transformation initiatives are showing positive signs with few products already underway such as Tune Protect Motor Easy. Among other initiatives, the company is also expected to launch its mobile application, concentrating its focus on acquiring more customers in the mass retail space. We opine that the company’s early attempt to reach out to customers via the digital space will leave a positive impact, which we expect coming in FY19 earnings. We believe that it will provide sustainable growth to its long term earnings’ stream due to the benefits of first mover’s advantage.

Source: MIDF Research - 22 Aug 2017
https://klse.i3investor.com/servlets/ptres/41745.jsp

PublicInvest TP RM 2.35.

FGV (Neutral, TP: RM2.35): Keen to participate in ECRL. Felda Global Ventures Holdings (FGV) is keen to participate in the development of the East Coast Rail Link (ECRL) project by offering its expertise in providing integrated logistics services with parties involved in the project. FGV’s officer-in-charge Datuk Khairil Anuar Aziz said it has the advantage to provide logistics services for the project as its facilities are either in or close to Kuantan Port while ECRL’s construction would be based in Kuantan before being expanded to Kelantan and Selangor. (SunBiz)
https://klse.i3investor.com/blogs/PublicInvest/129972.jsp

TA TP RM 52.08 by year-end?

BRITISH AMERICAN TOBACCO - Still Suffering from 2015 Price Hike
Date: 21/04/2017

Source : TA
Stock : BAT Price Target : 52.08 | Price Call : HOLD
Last Price : 44.60 | Upside/Downside : +7.48 (16.77%)

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Review
BAT’s 1QFY17 earnings came in below ours and consensus expectations at 16% of full-year forecasts. Excluding all exceptional items i.e. FX losses, derivatives gains and restructuring costs (RM2.1mn), BAT’s adjusted net profit declined by 23.2% QoQ to RM120.9mn. This was due to decline in Domestic and Duty Free volume, on the back of growth in illegal cigarettes post GST implementation in Apr-15 and excise duty hike in Nov-15 whereby cigarettes prices increased to an average of RM17.50/packet from RM13.00/packet in 2014.
YoY, BAT’s revenue dropped due to 24.5% lower domestic sale and export volume. Meanwhile, operating expenses reduced by 18.1% YoY due to i) lower recharges from related entities, ii) overhead savings from the cessation of manufacturing activity, and iii) timing of spends. These have filtered down to the bottomline with core profit slipped by 31.2%.
1QFY17 revenue decreased by 8.3% QoQ to RM770.7mn due to decline in sale volume of 20%. The adjusted net profit declined by significant 23.2% due to higher taxation.
In terms of market share, the group’s market share drop from 57.1% in Dec- 16 to 53.5%. In the premium segment, Dunhill’s market share declined by 1.3p.p to 37.3% year to date. Meanwhile, Aspirational premium brands recorded a growth of 12.1% mainly due to the performance of Peter Stuyvesant’s with a 7.7% share of market gaining 0.7p.p when compared to previous quarter.
https://klse.i3investor.com/servlets/ptres/40126.jsp

TP RM 1.2. Buy while still cheap.
https://klse.i3investor.com/servlets/ptres/41880.jsp

I support HLG TP because Tan Sri Desmond Lim bought at 2.5 sure want his interest taken care.

3 Tune for 1 AA sure TIH better buy.

My IB like AA but why don't like Tune? Unaware?

PE only 4.84 at 6.5 sen. Should trade at 13 sen.

6.5 sen wall is heavy but slowly can clear?

Even RM 1.15 hard to cross when can reach MIDF RM 1.47 or CIMB RM 1.71?

FGV previously want to takeover Zhong Ling from China so should takeover Xinghe instead?

Now biz is 1/3 AirAsia if travel insurance(TI) become compulsory TI can gain 3X more?

AA fans please come here for more gain than AA itself.

CIMB stocks tip?

Maybank TP RM 47 why 45 so difficult?

4.27 bottom price for downcycle?

China stocks comeback?

30-Aug-2017 Insider DATO' SRI CHONG KET PEN (a substantial shareholder) acquired 73,200 shares on 28-Aug-2017.
https://klse.i3investor.com/servlets/forum/800000826.jsp

Like PW 4 years ago P/B Xinghe 0.23 still very low hence more upside.

T4Q NAPS | P/NAPS: 0.237 | 0.23
https://klse.i3investor.com/servlets/stk/0095.jsp

If can move to 15.5 sen like Huaan there is 200% upside.

Traders see next Fed rate hike in mid-2018
https://www.reuters.com/article/us-usa-fed-futures/traders-see-next-fed-rate-hike-in-mid-2018-idUSKCN1BC50W

Up 37.5% from last week. 2nd biggest gainer(in%) behind Huaan.

Latest QR is PW best ever.
http://klse.i3investor.com/servlets/stk/fin/7134.jsp

I am first forumer to post here when PW only 40 sen 4 years ago. Today PW has tripled along with stock split, bonus and nice dividends.

Posted by rlch > Mar 14, 2013 09:58 PM | Report Abuse
NTA RM3.63, EPS 8.61sen. Why share price not moving?

PUC 13 sen fetch QR EPS 0.04 sen so is Vivo worse off?
http://www.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=0007

Interim 2 sen dividend meaning good QR? Good sales from just completed 1st phase Tropicana Bay Residence?

CIMB RM 1.71 tak boleh pakai? If use 5.2 sen dividend what value we get?

We retain our FY17 to FY19 earnings per share (EPS) forecasts and dividend discount model-based target price of RM1.71,” CIMB said in its note. Despite a 23.1% y-o-y fall in travel insurance gross premiums since the insurer switched to an opt-in function in July 2016, CIMB said it was positive on the new partnership with CAA, as this would be a new income stream for Tune.
Read more at http://www.thestar.com.my/business/business-news/2017/08/22/analysts-remain-bullish-on-tune-protect-as-better-h2-seen/#Peg7KsoRxo5bKx3p.99

Can ask our PM is FGV important to BN?

FGV mesti boleh like our Sea Games sportmen.

Public Invest what TP?

Just need to ask TM staffs to buy UEM S house is a show of support to BN govn as well.

New chairman from TM got help achieve good QR?

Insurer P&O with loss QR why 1.28?

Sime Darby,KLK or IOI should buy FGV using share swap(not involving cash) like what Scomi do.

Market value FGV now only RM 5.9465 billion when is theory should worth RM 123.5 billion. So FGV should rise 21 times more or TP RM 34?

1 hectare=2.47105 acres. If 400,000(actual far more) hectares total acreages FGV has is 988,421 acres. If time RM 125,000 per acre we get FGV valuation at RM 123.5 billion.
http://www.metric-conversions.org/area/hectares-to-acres.htm

If follow Yippy68 RM 125 K per acre how much is FGV 400,000 hectares valuation?

Posted by Yippy68 > Aug 20, 2017 10:59 AM | Report Abuse
i sold my oil palm land at kampong for an acre of RM 125,000.00..bplant have 200,000 acres, cost at RM 12,400.00..if management so naive to sell at 50,000.00 an acre, you will be able to work out how much your share worth today by amount of share you own , divided by total issue of share 1.6 billion and multipl by 200,000 x 50000 = your money parking at bplant.

Why die-die must goreng same stocks? 1000+ counters in Bursa cannot find new 1 to fry?

No wonder PM Najib no confidence in Chinese votes coming GE. What Chinese do make Chinese even angrier at MCA, Gerakan.

Before IPO Felda own 100% FGV. Now FGV drop so much time to privatise FGV like Lotte 6 years ago?

MACC checking FIC so that Felda have funds to buy FGV assets?

Perhaps you should ask relist counters like Malakof, Astro, etc do they have good performance post relisting?

Posted by enning22 > Aug 7, 2017 11:27 AM | Report Abuse
Lottetitan is not a simple reincarnation of olden day Titan,it is a different set up backed by Korean chemical technology.and research.With petroleum price continues to stay low for long period of time ,petrochemical industry can be benefited as low cost of raw materials persists.

Agree with curious2. Perhaps we should find out which counters has chance to be privatised like Lotte and have high return few years later.

Bakke from Sime Darby CEO become plantation CEO. Sound like demotion? Why not join FGV as CEO?
Read more at http://www.thestar.com.my/business/business-news/2017/07/28/sime-darby-unveils-senior-leaderships-for-units-listing-by-year-end/#SsSyVug3QCb6ZIzq.99

2nd in volume. Foreign funds buying?

AdCool go to MRCB. They need you more there.