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CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
BURSAMASTER
800 posts
Posted by BURSAMASTER > 2015-01-03 09:03 | Report Abuse
FGV: Flood Assesment Report on FGV
Date: 30/12/2014
Source : Affin Hwang Capital
Stock : FGV Price Target : 3.39 | Price Call : BUY
Last Price : 2.18 | Upside/Downside : +1.21 (55.50%)
Back
The eastern states of Peninsula Malaysia have been hit by floods, and had affected Felda Global Ventures’ (FGV) operations there. Key highlights from FGV’s assessment on the impact of the flood on its operations are as follows:-- Areas of estates flooded is 23,730 ha (Gua Musang and Kuala Lipis among areas badly affected), daily harvest down 50% and milling activity down to 40% of full capacity;
- Total areas impacted by the flood are 2% in Kelantan, 0.22% in Terengganu, 4% in Pahang and 0.12% in Negeri Sembilan;
- As of 29 December 2014, the opportunity loss of FFB production to FGV is estimated at 11,000 MT, only 0.2% of forecast annual production; and
- As of 29 December 2014, flood damages and opportunity loss to FGV due to the flood is estimated at RM21m.
(Source: Felda Global Ventures)
Comment: It has been reported that the flood in certain areas are receding. Barring the flood situation worsening, it is unlikely that 2015 production will be significantly affected. Meanwhile, CPO 3-Month futures closed 1.6% higher yesterday at RM2,286/MT.
We maintain our forecasts and rating for FGV (RM2.17, BUY TP RM3.39).
Source: Affin Hwang Capital Research - 30 Dec 2014