any reason for the pick ? premium close to 30%, gearing = 4.43, quite a long life span - until early 2016. you buy & hold or you play multiple cycles ?
Need a lot of patience and cash. Very hard to play contra. The mother is still sleeping but when the mother wakes up, she will bear a lot of money..money. Can collect now.. waking up soon.
Kulim To Take Control Of 40,645 Hectare Of Oil Palm Land In Kalimantan
By Ahmad Fuad Yahya
JAKARTA, Oct 3 (Bernama) -- Kulim (Malaysia) Bhd is eyeing to take control of 40,645 hectares of oil palm land through the acquisition of an Indonesian company for US$43.44 million (about RM140 million) and ventures in the oil and gas sector.
Its Chairman Datuk Kamaruzzaman Abu Kassim said Kulim was acquiring a greenfield project in northern Barito, Central Kalimantan, Indonesia, to enable the group to diversify its geographical presence into other locations suitable for cultivation of palm oil apart from Malaysia, Papua New Guinea and the Solomon Islands.
He said Kulim was poised to increase its direct landbank by 80 per cent from the current 49,551 hectares to more than 90,000 hectares upon the completion of the acquisition, noting that the move was consistent with the group's long-term business plan to expand their oil palm landbank.
"With oil palm land getting scarce in Malaysia, Kulim is proactively looking at steps to significantly increase its landbank particularly among neigbouring countries.
"The choice of Kalimantan was also made given the goup's previous experience in the region besides the biophysical suitability of the area as evidenced during the site visits," Kamaruzzaman, who is also President and Chief Executive of Johor Corporation, said in a statement here on Thursday.
Johor Corporation owns a 56 per cent stake in Kulim.
Earlier, Kulim inked a memorandum of understanding (MoU) and conditional shares sale agreement (CSSA) with Indonesia-based PT Graha Sumber Berkah (PT GSB) to signify both parties' commitment to work together in developing the oil palm plantation and explore opportunities in the downstream and upstream oil and gas sector.
Also present to witness the event were Johor Mentri Besar Datuk Seri Mohd Khaled Nordin, who is also Chairman of Johor Corporation; Chief Secretary to the Government of Malaysia Tan Sri Dr Ali Hamsa, who is also Deputy Chairman of Johor Corporation; and Malaysian Ambassador-Designate to Indonesia Datuk Seri Zahrain Mohomed Hashim.
Kulim returns to Indonesia after a break of over six years. It sold a total of over 40,000 hectares of its oil palm plantation in Kalimantan and Sumatra in 2006.
Earlier, when addressing the event, Kamaruzzaman said the company was expected to fully develop the oil palm plantation in Barito in seven to eight years and expected to get returns in 12 years.
Meanwhile, Kulim Managing Director Ahamad Mohamad said the group was committed to procuring the relevant endorsements for the greenfield development, and has engaged Daemeter Consulting to carry out all the necessary assessments.
Daemeter is a leading independent consulting firm in Indonesia promoting sustainable and equitable management of natural resources.
Ahamad said Kulim's move to acquire a 75 per cent stake in Indonesia-based PT Wisesa Inspira Nusantara (PT WIN) for up to US$43.44 million would pave the way for the group to tap into the expertise of its local partner PT GSB that would effectively hold the remaining 25 per cent stake of PT WIN.
The company via its advisor RHB Investment Bank had, at the close of trading today, announced to Bursa Malaysia the details of both the MoU and CSSA.
For the year ended Dec 31, 2012 (based on restated figures due to discontinued operations), Kulim's revenue dipped 13 per cent to RM906.82 million from RM1.042 billion in 2011, mainly due to lower palm product prices.
In the same period under review, Kulim's profit after tax rose 0.3 per cent to RM1.011 billion from RM1.007 billion previously.
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 3450 views | 3 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
necro
4,726 posts
Posted by necro > 2013-01-08 16:22 | Report Abuse
What is the price after ex date?
The PRECISE ANSWER GET RM3 TOP UP...