congratulations to all the shareholders, target price 0.90/0.95 (privatization coming, announcement will come together with QR which to be released today evening or tml).
Insider knew it and sapu yesterday and today morning. T + 3 so today and tml is show time.
I am not so greedy, privatize @ 0.90 is ok for me.
Harn Len returns to black in Q3 with RM113.3 mln profit - Bernama
KUALA LUMPUR, Nov 26 -- Harn Len Corp Bhd returned to the black in the third quarter ended Sept 30, 2020, with a net profit of RM113.28 million against a net loss of RM6.98 million in the same quarter last year.
The group’s revenue increased by 19.5 per cent to RM36.14 million from RM30.23 million a year ago, the oil palm plantation and oil milling operator said in a filing with Bursa Malaysia today.
“Growth was mainly due to higher average selling prices of crude palm oil (CPO) and palm kernel,” it said.
For the first nine months of the current financial year, Harn Len recorded a net profit of RM98.44 million versus a net loss of RM26.91 million, while its revenue rose by 12.1 per cent to RM82.81 million from RM73.84 million previously.
Harn Len’s plantation division remained the major revenue contributor, accounting for 97 per cent of total revenue, followed by three per cent from the property and other divisions.
Managing director Low Quek Kiong said the group’s prospects were bright as the CPO price increased to the RM3,000 level since the end of the third quarter.
“Our significantly enhanced financial position from the gain on disposal, aided by the favourable buoyant CPO price, means we can continue to commit to our key measurements and rollout our strategic executions to improve productivity and profitability.
“This enables delivery of sustainable growth while maintaining an optimistic outlook on the sector and CPO price,” he said.
Harn Len expects the CPO price rally to continue and soften in the second quarter of the financial year 2021 onwards with an average price of RM2,500 per tonne.
stock under value NTA above $2 if revalue,this is very thin traded counter if buy must hold.Im still holding which bought at 0.60. Cpo price keep rising,demands better valuation for Harn Len's total plantation more than 6,000 ha
Last month they sold the piece of land, now got the capital to privatization ...last Friday one big jump indicate someone insider know the news .. so watch out .. this Monday
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tualp
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Posted by tualp > 2020-11-23 13:13 | Report Abuse
Looks like privatization is deemed certain. The share price keep on increasing in fact other counters like Jtiasa, Kimloong alr dropped.
A lot of ppl keep on talking about privatization of Harnlen in the market. especially JB market, all johorian started to buy harnlen.
RTS site just 5 mins from Harnlen's hotel. So, cut the story short, buy harnlen wont go wrong.