RIVERVIEW RUBBER ESTATES BHD

KLSE (MYR): RVIEW (2542)

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Last Price

3.07

Today's Change

+0.02 (0.66%)

Day's Change

3.07 - 3.07

Trading Volume

2,400

Financial

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Last 10 FY Result
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Revenue 32,185 32,308 34,427 54,923 55,960 36,478 25,698 28,661 43,265 31,311 31,147 30,088 1.50%
PBT 10,924 9,326 9,546 21,459 31,650 13,746 2,949 6,534 20,440 14,972 8,950 12,460 -2.91%
Tax -3,642 -3,286 -3,037 -7,067 -8,138 -3,479 -1,703 -1,819 -4,047 -3,566 -2,628 -3,028 0.03%
NP 7,281 6,040 6,509 14,392 23,512 10,267 1,246 4,715 16,393 11,406 6,322 9,432 -4.03%
-
NP to SH 7,138 5,920 6,387 14,079 22,672 10,842 2,113 4,953 16,031 11,169 6,269 7,835 -2.24%
-
Tax Rate 33.34% 35.23% 31.81% 32.93% 25.71% 25.31% 57.75% 27.84% 19.80% 23.82% 29.36% 24.30% -
Total Cost 24,904 26,268 27,918 40,531 32,448 26,211 24,452 23,946 26,872 19,905 24,825 20,656 3.40%
-
Net Worth 359,093 359,330 356,677 367,053 378,078 271,074 265,886 266,535 267,183 258,753 303,500 295,718 2.10%
Dividend
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Div 4,321 3,242 16,212 259 155 71 19 38 11,673 3,891 38 - -
Div Payout % 60.53% 54.77% 253.84% 1.84% 0.69% 0.66% 0.92% 0.79% 72.82% 34.84% 0.62% - -
Equity
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Net Worth 359,093 359,330 356,677 367,053 378,078 271,074 265,886 266,535 267,183 258,753 303,500 295,718 2.10%
NOSH 64,818 64,861 64,850 64,850 64,850 64,850 64,850 64,850 64,850 64,850 64,850 64,850 0.00%
Ratio Analysis
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
NP Margin 22.62% 18.70% 18.91% 26.20% 42.02% 28.15% 4.85% 16.45% 37.89% 36.43% 20.30% 31.35% -
ROE 1.99% 1.65% 1.79% 3.84% 6.00% 4.00% 0.79% 1.86% 6.00% 4.32% 2.07% 2.65% -
Per Share
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
RPS 49.65 49.81 53.09 84.69 86.29 56.25 39.63 44.20 66.72 48.28 48.03 46.40 1.50%
EPS 11.01 9.13 9.85 21.71 34.96 16.72 3.26 7.64 24.72 17.22 9.67 12.08 -2.24%
DPS 6.67 5.00 25.00 0.40 0.24 0.11 0.03 0.06 18.00 6.00 0.06 0.00 -
NAPS 5.54 5.54 5.50 5.66 5.83 4.18 4.10 4.11 4.12 3.99 4.68 4.56 2.10%
Adjusted Per Share Value based on latest NOSH - 64,818
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
RPS 49.62 49.81 53.08 84.68 86.28 56.24 39.62 44.19 66.70 48.27 48.02 46.39 1.50%
EPS 11.01 9.13 9.85 21.71 34.95 16.72 3.26 7.64 24.72 17.22 9.67 12.08 -2.24%
DPS 6.66 5.00 25.00 0.40 0.24 0.11 0.03 0.06 18.00 6.00 0.06 0.00 -
NAPS 5.5364 5.54 5.4991 5.6591 5.829 4.1793 4.0993 4.1093 4.1193 3.9893 4.6792 4.5593 2.10%
Price Multiplier on Financial Quarter End Date
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Date 30/09/24 30/09/24 29/12/23 30/12/22 31/12/21 31/12/20 31/12/19 31/12/18 29/12/17 30/12/16 31/12/15 31/12/14 -
Price 3.16 3.16 3.28 3.80 3.34 3.13 2.95 3.10 3.85 3.71 3.50 3.80 -
P/RPS 6.36 6.34 6.18 4.49 3.87 5.56 7.44 7.01 5.77 7.68 7.29 8.19 -3.07%
P/EPS 28.69 34.62 33.30 17.50 9.55 18.72 90.54 40.59 15.57 21.54 36.21 31.45 0.63%
EY 3.49 2.89 3.00 5.71 10.47 5.34 1.10 2.46 6.42 4.64 2.76 3.18 -0.64%
DY 2.11 1.58 7.62 0.11 0.07 0.04 0.01 0.02 4.68 1.62 0.02 0.00 -
P/NAPS 0.57 0.57 0.60 0.67 0.57 0.75 0.72 0.75 0.93 0.93 0.75 0.83 -3.53%
Price Multiplier on Announcement Date
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Date 22/11/24 22/11/24 29/02/24 23/02/23 25/02/22 25/02/21 25/02/20 21/02/19 28/02/18 24/02/17 23/02/16 26/02/15 -
Price 3.07 3.07 3.30 3.40 3.52 2.98 2.90 3.05 3.70 3.98 4.01 4.01 -
P/RPS 6.18 6.16 6.22 4.01 4.08 5.30 7.32 6.90 5.55 8.24 8.35 8.64 -3.58%
P/EPS 27.88 33.64 33.51 15.66 10.07 17.82 89.00 39.93 14.97 23.11 41.48 33.19 0.10%
EY 3.59 2.97 2.98 6.39 9.93 5.61 1.12 2.50 6.68 4.33 2.41 3.01 -0.11%
DY 2.17 1.63 7.58 0.12 0.07 0.04 0.01 0.02 4.86 1.51 0.01 0.00 -
P/NAPS 0.55 0.55 0.60 0.60 0.60 0.71 0.71 0.74 0.90 1.00 0.86 0.88 -4.16%

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
Be the first to like this. Showing 20 of 20 comments

cariyoyo

the price has gone up suddenly. it has been laggard for a long time. anyone?

2013-04-10 12:16

arv18

This is very solid counter. Good dividend. Zero Gearing. Just no profile. Low liquidity.

2013-04-12 19:23

cariyoyo

revenue dropped sharply due to weakening cpo prices. unless the company expands its planted hectarage, i do not see great value in this company. or perhaps certain group might be interested in taking it private or buy the huntsman family out. anything short of these, rview will be dull and mundane.

2013-04-29 10:08

balvin71

Completely agree. They need to go back to expansion mode and diversify into other commodity or into processing. In the medium term, their trees are reaching end-of life and would soon need to be replanted. This will cause a drop in revenue until the new tree matures, the dividend yields during this time will also be effected.

2013-05-21 08:49

dlsh2

i concur with the views given by cariyoyo and balvin71. most top 30 shareholders of rview are old folks who might have been holding the shares for 30 to 40 years. they are not interested to sell but to pass on to their children and grandchildre. these old folks are expecting dividends every july and january for their beer monies. the price will drop if rview could not sustain the 20% dividend payout. rview is a small outfit and they should find ways to expand its planted areas. but again, i doubt they have a visionary management.

2013-06-03 09:49

mukah

There are rumors swirling around that a prominent family based in Ipoh are interested to take up a sizeable stake in Riverview if the price are right.

2015-04-07 12:07

mukah

The company has ceased giving out dividends for the last two quarters. The reason given to shareholders was that they need to conserve the cash for future expansions or when opportunity comes along the way. Riverview has purchased the balance shares owned by a Bumiputera partner in Narborough. They could not pay dividend as a result. However, they should have offered the Bumiputera partner part Riverview shares and cash or completely with Riverview shares. Maybe the Bumi partner turned down both offers and prefer cash. My question is how can the shareholders benefit from Narb when they do not get any dividend from the increased profit?

Guess this is not the counter to be in as dividends will dwindle going forward.

2015-06-01 09:04

Meowyx

o.o

2017-04-04 15:56

Surewin123

gap up tue

2017-04-30 14:34

Rizal Nashrudin

up

2018-06-17 14:43

Chrisk

Appear some interest here. Any possibility of some restructuring?

2018-08-02 18:19

cariyoyo

Chrisk, Riverview is held by the Huntsman family. After the death of Williams Huntsman, the family (inclusive of extended families) brought in a new regime headed by Oliver Huntsman. The new regime was inspired by the new chairman, an ex-planter, who came up with expansion ideas, so on and so forth. However, after 5 years into it, I noticed nothing has taken place vis-à-vis the old regime. Unless one has no other counter to invest, they can look at Riverview.

2018-09-12 15:12

Lim Tek Wai

Good news incoming, oh yeah !

2018-09-14 11:26

Chrisk

Thank you cariyoyo. Best rgds.

2018-09-14 12:05

LouiseS

RIVERVIEW's main business segments include oil palm plantations and investment holdings.

Its earning performance has been overall unstable in last five years, whereby its earning per share overall fluctuated from 1.34 sen to 26.83sen. Dividend payout in the 2018 financial year totalled 6 sen per share, which corresponds to a dividend yield of 2.03%.

https://louisesinvesting.blogspot.com/2019/12/comments-on-riverview-rubber-estates.html

2019-12-28 12:07

calvintaneng

RIVERVIEW & MHC PLANT: 2 MORE PALM OIL STOCKS REPORTING INCREASE OF OVER 200% PROFIT EACH, Calvin Tan

https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/2021-08-12-story-h1569712578-RIVERVIEW_MHC_PLANT_2_MORE_PALM_OIL_STOCKS_REPORTING_INCREASE_OF_OVER_2.jsp

2021-08-12 20:10

patrico8

This is an undiscovered gem. NOSH 64 mil only. It will follow DKSH momentum with good earnings.

2021-09-01 11:26

calvintaneng

Taann also excellent as it gave 30 sen dividend and final qtr will probably give another superb dividend to make it the best ever

2021-12-07 09:39

Dehcomic01

Many investors like to use relative valuations to compare the “worth” of a company. Yet when it comes to fundamentals they don’t follow through by using relative fundamentals.
I illustrate this with the example of Riverview Rubber, a Bursa Malaysia plantation company. My reference company is KLK – this is partly because I have a detailed fundamental analysis and partly because I happen to know some of the senior managers there.
On a PE basis, Riverview is relatively expensive while it is cheap from a PBV basis
Riverview KLK
PE 38 18
PBV 0.6 1.7

When you compare their respective ROE treads as per the chart, you can see that Riverview under performed KLK over the past decade. It is not just the numbers. Because I have a reasonably good picture of how KLK numbers came about, I can have a “qualitative picture” how Riverview under performed. https://i.postimg.cc/MZNbTDq1/Riverview-vs-KLK.png
If you expect Riverview to be taken over like Boustead Plantation, you would look at the PBV. But if there is no sale, the market is likely to rate it based on its earnings.
On a PE basis, Riverview is more expensive yet on a ROE basis it is worse. This is not Buffett wonderful company at fair price. Neither is this a Graham cigar-butt.
If you want to look at some other Bursa companies with some plantation activities, have a look at KFIMA. https://www.youtube.com/watch?v=m31TkvDgthc

2024-01-06 10:13

cariyoyo

No dividend?

2024-08-12 10:34

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