UNITED PLANTATIONS BHD

KLSE (MYR): UTDPLT (2089)

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Last Price

25.76

Today's Change

+0.06 (0.23%)

Day's Change

25.40 - 25.76

Trading Volume

415,500

Financial

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Last 10 FY Result
AQR T4Q 31/12/14 31/12/13 31/12/12 31/12/11 31/12/10 31/12/09 31/12/08 31/12/07 31/12/06 31/12/05 CAGR
Revenue 1,960,292 2,119,840 1,021,843 950,222 1,183,389 1,398,386 995,107 816,674 1,030,925 674,193 597,463 594,321 6.20%
PBT 884,160 965,098 355,604 340,476 454,239 491,541 349,460 372,797 397,818 232,985 199,569 181,637 7.74%
Tax -205,277 -258,852 -76,233 -87,989 -111,688 -117,955 -84,753 -91,913 -98,259 -53,597 -49,561 -48,609 5.12%
NP 678,882 706,246 279,371 252,487 342,551 373,586 264,707 280,884 299,559 179,388 150,008 133,028 8.58%
-
NP to SH 675,716 703,509 278,030 251,831 342,241 373,951 264,307 281,475 299,559 179,401 150,008 133,028 8.53%
-
Tax Rate 23.22% 26.82% 21.44% 25.84% 24.59% 24.00% 24.25% 24.65% 24.70% 23.00% 24.83% 26.76% -
Total Cost 1,281,409 1,413,594 742,472 697,735 840,838 1,024,800 730,400 535,790 731,366 494,805 447,455 461,293 5.42%
-
Net Worth 2,982,304 2,982,304 2,123,639 2,197,710 2,150,026 1,996,007 1,771,204 1,637,982 1,431,922 1,196,839 1,071,931 978,300 8.98%
Dividend
AQR T4Q 31/12/14 31/12/13 31/12/12 31/12/11 31/12/10 31/12/09 31/12/08 31/12/07 31/12/06 31/12/05 CAGR
Div - - 342,857 214,880 260,167 249,761 187,318 145,690 104,064 83,258 72,849 62,444 20.81%
Div Payout % - - 123.32% 85.33% 76.02% 66.79% 70.87% 51.76% 34.74% 46.41% 48.56% 46.94% -
Equity
AQR T4Q 31/12/14 31/12/13 31/12/12 31/12/11 31/12/10 31/12/09 31/12/08 31/12/07 31/12/06 31/12/05 CAGR
Net Worth 2,982,304 2,982,304 2,123,639 2,197,710 2,150,026 1,996,007 1,771,204 1,637,982 1,431,922 1,196,839 1,071,931 978,300 8.98%
NOSH 416,268 416,268 208,134 208,134 208,134 208,134 208,132 208,129 208,128 208,145 208,142 208,148 -0.00%
Ratio Analysis
AQR T4Q 31/12/14 31/12/13 31/12/12 31/12/11 31/12/10 31/12/09 31/12/08 31/12/07 31/12/06 31/12/05 CAGR
NP Margin 34.63% 33.32% 27.34% 26.57% 28.95% 26.72% 26.60% 34.39% 29.06% 26.61% 25.11% 22.38% -
ROE 22.66% 23.59% 13.09% 11.46% 15.92% 18.73% 14.92% 17.18% 20.92% 14.99% 13.99% 13.60% -
Per Share
AQR T4Q 31/12/14 31/12/13 31/12/12 31/12/11 31/12/10 31/12/09 31/12/08 31/12/07 31/12/06 31/12/05 CAGR
RPS 472.60 511.07 491.76 456.58 568.57 671.87 478.11 392.39 495.33 323.90 287.05 285.53 6.22%
EPS 162.91 169.61 133.80 121.00 164.43 179.67 126.99 135.24 143.93 86.19 72.07 63.91 8.55%
DPS 0.00 0.00 165.00 103.25 125.00 120.00 90.00 70.00 50.00 40.00 35.00 30.00 20.84%
NAPS 7.19 7.19 10.22 10.56 10.33 9.59 8.51 7.87 6.88 5.75 5.15 4.70 9.00%
Adjusted Per Share Value based on latest NOSH - 416,268
AQR T4Q 31/12/14 31/12/13 31/12/12 31/12/11 31/12/10 31/12/09 31/12/08 31/12/07 31/12/06 31/12/05 CAGR
RPS 470.92 509.25 245.48 228.27 284.29 335.93 239.05 196.19 247.66 161.96 143.53 142.77 6.20%
EPS 162.33 169.00 66.79 60.50 82.22 89.83 63.49 67.62 71.96 43.10 36.04 31.96 8.52%
DPS 0.00 0.00 82.36 51.62 62.50 60.00 45.00 35.00 25.00 20.00 17.50 15.00 20.81%
NAPS 7.1644 7.1644 5.1016 5.2796 5.165 4.795 4.255 3.9349 3.4399 2.8752 2.5751 2.3502 8.98%
Price Multiplier on Financial Quarter End Date
AQR T4Q 31/12/14 31/12/13 31/12/12 31/12/11 31/12/10 31/12/09 31/12/08 31/12/07 31/12/06 31/12/05 CAGR
Date 29/09/23 29/09/23 31/12/14 31/12/13 31/12/12 30/12/11 30/12/10 31/12/09 31/12/08 31/12/07 29/12/06 30/12/05 -
Price 16.64 16.64 24.40 26.00 25.00 19.00 17.10 13.90 10.30 12.70 9.75 7.05 -
P/RPS 3.52 3.26 4.96 5.69 4.40 2.83 3.58 3.54 2.08 3.92 3.40 2.47 8.04%
P/EPS 10.21 9.81 18.24 21.49 15.20 10.58 13.47 10.28 7.16 14.73 13.53 11.03 5.74%
EY 9.79 10.19 5.48 4.65 6.58 9.46 7.43 9.73 13.97 6.79 7.39 9.07 -5.44%
DY 0.00 0.00 6.76 3.97 5.00 6.32 5.26 5.04 4.85 3.15 3.59 4.26 5.26%
P/NAPS 2.31 2.31 2.39 2.46 2.42 1.98 2.01 1.77 1.50 2.21 1.89 1.50 5.30%
Price Multiplier on Announcement Date
AQR T4Q 31/12/14 31/12/13 31/12/12 31/12/11 31/12/10 31/12/09 31/12/08 31/12/07 31/12/06 31/12/05 CAGR
Date 16/11/23 16/11/23 26/02/15 24/02/14 25/02/13 20/02/12 24/02/11 22/02/10 23/02/09 25/02/08 26/02/07 27/02/06 -
Price 16.82 16.82 25.02 25.00 26.30 22.76 16.80 13.34 10.80 14.30 11.00 7.10 -
P/RPS 3.56 3.29 5.09 5.48 4.63 3.39 3.51 3.40 2.18 4.41 3.83 2.49 8.26%
P/EPS 10.32 9.92 18.70 20.66 15.99 12.67 13.23 9.86 7.50 16.59 15.26 11.11 5.95%
EY 9.69 10.08 5.35 4.84 6.25 7.89 7.56 10.14 13.33 6.03 6.55 9.00 -5.61%
DY 0.00 0.00 6.59 4.13 4.75 5.27 5.36 5.25 4.63 2.80 3.18 4.23 5.04%
P/NAPS 2.34 2.34 2.45 2.37 2.55 2.37 1.97 1.70 1.57 2.49 2.14 1.51 5.52%

PBT = Profit before Tax, NP = Net Profit, NP to SH = Net Profit Attributable to Shareholder, Div = Dividend, NP Margin = Net Profit Margin, ROE = Return on Equity, NOSH = Number of Shares, RPS = Revenue per Share, EPS = Earning Per Share, DPS = Dividend Per Share, NAPS = Net Asset Per Share, EOQ = End of Quarter, ANN = Announcement, P/RPS = Price/Revenue per Share, P/EPS = Price/Earning per Share, P/NAPS = Price/Net Asset per Share, EY = Earning Yield, DY = Dividend Yield.

NOSH is estimated based on the NP to SH and EPS. Div is an estimated figure based on the DPS and NOSH. Net Worth is an estimated figure based on the NAPS and NOSH.

Div Payout %, NP Margin, ROE, DY, QoQ ⃤ & YoY ⃤ figures in Percentage; RPS, EPS & DPS's figures in Cent; and NAPS's figures in Dollar.

All figures in '000 unless specified.

Discussions
5 people like this. Showing 50 of 3,022 comments

Sardin

It can be summarised into 2 main points:
1. Selling cpo considerably below market value
2. Lesser cpo output
And looks like both are going to happen together. Besides that there are a few more things I try to figure out.

2 weeks ago

ooihk899

FY2023 Q1 ASP 37xx, This year CPO price Jan 3783.5 Feb 3949.5
Mar 4215.5 Info from MPOB.
UP hedge 1H 53620MT @3980. So, I don't think Q1 will affect much.
Have to look out for Q2 if CPO stay above 4200 for Q2.
Output wise, if it's below 5% YoY, will not affect much. Will catchup
starting Q2.
This year UP forward sales volume is low compare to last few years.
Up trend in CPO price will have lesser effect on profit.
Hopefully they can cover it with higher yields.

2 weeks ago

ooihk899

Sardin, does my explanation 'masuk akal'?
Please let me have your thoughts.

2 weeks ago

Sardin

Not sure if output with catch up in Q2 because El Nino effect is known to be lasting for months / years. RM 3,800 / MT in Q3 a bit too much of the discount compares to BMD FCPO in Jul, Aug, Sep.

2 weeks ago

Greenying

Very healthy discussion and analysis 😀

2 weeks ago

ooihk899

2H forward contract qty is 28550MT, around 1/4 of UP Malaysia
plantation 2H output. I think effect will not be so much.
As for output, you can attend the AGM to ask the management on the
effect of El Nino on FFB production

2 weeks ago

observatory

Does El Nino affect UP?

Maybe you can study changes in yield per mature hectare for its Indonesian and Malaysian plantations respectively during the historical El Nino years.

The questions are
1. How does El Nino affect Peninsular Malaysia and Kalimantan?
2. Do we have strong or normal El Nino in 2024?
3. How does it affect CPO price?
4. What is the net result if there is declining yield but higher prices?

What about the prices and outputs of other competing oil crops?

I suspect even professional traders find it difficult to answer confidently.

2 weeks ago

dam82

long time never come here ... hope can grow more after ex date ...

2 weeks ago

Sardin

@Observatory
The El Nino effect in 2024 is expected to be at moderate level, and of course it will push up the CPO price.
However, the high price of CPO is meant to compensate the reduction of output. If output is low, production cost per metric ton will be higher (assuming constant fixed cost, such as salaries, chemicals, etc.) and if the selling price is not high enough, it will squeeze the profit margin considerably.
How much this will affect UP, I am not confident to answer and I am far from being a professional trader.
But when I water my plants, and hang my clothes, phew... the weather is really really hot, I could feel the abnormal amount of heat. If this is only "moderate" I don't know how a serious El Nino feels like? My trees do not bear good fruits compares to a few months back, a lot less fruits and smaller fruits are what I got.

2 weeks ago

Sardin

UP did a risk assessment, I forgot which page on the annual report. Weather / climate has a rating associated to high risk and high impact besides the commodity price. I hope the contracted price had more than enough to adverse the impact of lower production. But I also know it is difficult to get a good deal / price stroke a few months back when effect of El Nino is not yet manifested. I believe there is a margin squeeze, hope it is a light one.

2 weeks ago

ooihk899

Ytd Feb drop 3.8%, let's wait for Q1 production figure next week.
Anyway QR will be release on 26th. 😃

2 weeks ago

KingKKK

26th April or May?

2 weeks ago

ooihk899

26th April , QR out. Bullish or not depend on QR,
production quantity n their CPO ASP.

2 weeks ago

Pinky

What is that joker spamming

2 weeks ago

BudiLee

I am so happy to see UP's price start rising again today.

2 weeks ago

BudiLee

I think I have to sing that song again, coz UP price rising so high today, Yeayyy! Keep go up, keep go up! Siapa jual dia rugi 😃

2 weeks ago

Sardin

Wah. Very good harvest woh. Very good surprise!

2 weeks ago

ooihk899

Should not worry about the output,
YoY Q1 CPO output up by 1.9% overall.
Q1 Own production YoY up by 2.9%😁

2 weeks ago

Greenying

Cheers!

2 weeks ago

dam82

trust the management ... i still think their tanah rata not reach the optimum palm oil output when that kick start the output will be fantastic ..... for now i just wait and see while all enjoy riding utdplt don't forget to grab a carlsberg beer and enjoy your day ... hahah kena promote mah ...

2 weeks ago

JrWarren

fking haze from Sumatra make my nose itchy, hope more rain coming in mid April to deal with the fire & Haze.
Most important is providing water source for the palm oil in this El Nino time.

2 weeks ago

Pinky

Retail top buy:
https://www.facebook.com/photo/?fbid=802415565254781&set=a.607997711363235

2 weeks ago

BudiLee

Cheers everyone!

1 week ago

BudiLee

Hohoho let us all witness the passing of RM25 today! Bravo UP!

1 week ago

BudiLee

Quick buy some more now while the price is still below 25

1 week ago

BudiLee

😀😄😀

1 week ago

LossAversion

2nd round of profit taking, before buying back lower for dividends soon. he, he

1 week ago

Sardin

Going to RM 28. 😄

1 week ago

BudiLee

Can anyone tell me, how much is the broker fee + any other fees involved every time we buy or sell stocks?

1 week ago

Sardin

@BudiLee, check the contract note you received

1 week ago

stockraider

This is the best bluechip plantation share loh!

1 week ago

BudiLee

@Sardin, ok noted, thanks.

1 week ago

BudiLee

Congrats UP, you just passed the line of Ji Go = Dua Lima , moving up further! You can do it! 😍😎

1 week ago

MoneyLovesMe

Siapa jual dia rugi, sebab UP price akan naik terus sampai hari Jumat ini.

1 week ago

JrWarren

glad UP surpassed RM25, so will it drop after ex-date?
Hardly, because the fund manager's dividend expectation still there and the price movement will reflect their expectation:

1. What is the cash reserve after dividend payout ? If got extra cash means extraordinary dividend.
2. Are the production & CPO price same / better than 2023? Yes for 1Q2024, if 2Q & 3Q result suggest better production, CPO price maintain at 4k, fund manager will arbitrage & push up UP share price.

1 week ago

BudiLee

Thanks for your thoughts, JrWarren

1 week ago

lionel messi

What a gem of a stock. UP really epitomizes Buffett's famous advice of holding good stocks forever when asked when is the best time to sell. Never he says. Hard pressed to find another UP. Cheers. 🍻

6 days ago

BudiLee

Yeah, that's why I said siapa jual dia rugi, brother💎

6 days ago

BudiLee

Can anyone guess, how much will be the UP price on the day before the EX date?

6 days ago

sck88

At least RM26 before EX date

6 days ago

MoneyLovesMe

RM27.80

6 days ago

BudiLee

The Ex Date is getting closer and closer everyone. It's next Friday!

4 days ago

GS

the 1Q financial results is on 24/04, exactly after AGM.....

4 days ago

Ahlian

This selling before XD similar like last year. Share price will stay here for now. Price likely will only move after AGM.

4 days ago

BudiLee

meaning on 25/04? that's the last day to buying this stock before the ex date

4 days ago

GS

all-time High

4 days ago

BudiLee

Yes! All-time High

1 day ago

BudiLee

RM27 before Ex Date

1 day ago

investor77

Ex Div of 70 + 40 cents this Friday, 26/4. Since Utd Plt has very good management, plus High CPO price and low cost of Production, after Ex, possibility price will climb up again to cum dividend price. Results of Q1, which will be very good, will be out soon

1 day ago

KingKKK

EPF keep on buying due to its good dividend, RM1.10 coming ex this Friday ...

5 hours ago

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