UTDPLT (2089): Quarterly Results for Last 10 Financial Years

Appreciate those attended to share the info from AGM. Thanks!

2 days ago

I am interested to find out what is the UP hedging strategy now and its' proportion (%).

2 days ago

Sifus , do you think it will surpass RM28 ah by tomorrow 5pm?

2 days ago

MoneyLovesMe

Oh yes! Very highly possible. EPF will buy hundreds of thousands of units again today, for sure.

2 days ago

Ok, then I'll buy some more today

2 days ago

26.140 , lucky this morning I managed to get some at 25.70

2 days ago

Sorry, 26.400 now

2 days ago

MoneyLovesMe

United Plantations Berhad (UP) wishes to announce that all
10 ordinary resolutions as set out in the Notice of UP's 103rd Annual General
Meeting (AGM) dated 24 April 2024 were approved by shareholders at UP's 103rd
Annual General Meeting. The voting on the 10 resolutions were carried out by
way of a poll and electronic voting at the AGM held today. The results of the
poll was validated by Sky Corporate Service Sdn. Bhd., the independent
Scrutineeer appointed by UP. The announcement is dated 24 April 2024.

2 days ago

KingKKK

Anyone attended the AGM? Can share key message?

2 days ago

KClow

RM35 BY END 2024

2 days ago

1Q2024 EPS improved by 18% =)

2 days ago

but PAT -34% QoQ

2 days ago

Problem with holding a physical AGM near its estate is that few loyal shareholders can attend. I strongly urge the management to consider holding a hybrid AGM next year, like what Bursa has done. UP can set the example as one of the first few listed companies that pioneer hybrid AGMs

2 days ago

PAT increased 18.7%,
RM1.65b contract (revenue) to be delivered within next 12 months.

2 days ago

QR out why so quiet? Hope this year div btw RM1.5 to 1.7.😃

2 days ago

Ahlian

Oiihk, you attending the AGM yesterday, what's the CEO visions?

1 day ago

goldenhope

The venue of the AGM is quick far away from town, hope management can consider hybrid AGM next year.

1 day ago

LossAversion

Still so "backward". Still no virtual meeting!

1 day ago

Pinky

Virtual meeting is dumb and bad for shareholders

1 day ago

Ahlian

CEO Invite all shareholders to join next year. All price below RM 27 will be take up before XD.

1 day ago

I support virtual meetings, all of my businesses are on virtual meetings now. So efficient!

1 day ago

Btw, by the end of this Year, UP should be more than RM35

1 day ago

Last hour to buy UP share before Ex date!

1 day ago

I dont understand at this hour still got people want to sell their UP share

1 day ago

dam82

all scared it will go down afte ex date .. steady looking at the result the divident should be awesome this year as well

1 day ago

goldenhope

CPO drop below 3,900

1 day ago

LossAversion

@Pinky, so fortunate of you to be able to attend physical AGM. People like me who live far away cant 'follow' the meeting if there is no (dumb) virtual opportunity!

Posted by Pinky > 6 hours ago | Report Abuse
Virtual meeting is dumb and bad for shareholders

1 day ago

Last 10 minutes everybody

1 day ago

Will the magic happen?

1 day ago

Mardi Bross will come all the way from Indonesia

1 day ago

ImmuneSystemHero.com

1 day ago

Last 1 minute!

1 day ago

Yeaaaaa RM26.380 , good number

1 day ago

Hold your shares tightly. For those who want to buy, the trees do not grow to heaven so plan carefully. I am surprised that Dato Carl Bek-Nielsen can speak very good Malay. Someone asked me to give a hint if it is good to buy before ex-date. Well, Q1 report is released by end of the day of AGM, so I think it is better to answer after reading the Q1 report. And after reading the Q1 report, it is already end of before ex-date. I think the dates are set by the management with the intention of giving us the opportunity to be fully informed before we decide to buy or sell, the time given is not more or less and is just enough.

1 day ago

@Sardin, I agree with you that the date is carefully plan to release the QR long time ago.
With the current order book, production data, CPO price and adequate cash reserve, a reasonable price movement is expected.
Business model is adequate for contract sales to eliminate most receivables and take advantage at cash position. UP cash position never fail me and always at 1/3 or 1/4 of its annual revenue.

19 hours ago

Yes, I agree with both of you. I think it is now is the best time to get some more shares as the price is still low. I'm sure before lunch time of today it will surpass RM25 again

17 hours ago

Another good QR, the price will be above 30.
Sardin, any highlite in AGM? Appreciate if you share.

17 hours ago

I thought you were there. You wore the UP t-shirt right?

16 hours ago

Oh, I did not attend. You got the wrong guy.
Appreciate if you can share. 🙂

16 hours ago

I would like to start with my opinion and conclusion. There is hardly or no any information in the AGM that you can use to speculate the share price. In my opinion, the AR and QR can give you a better idea if you want to set a target price for the share.

The AGM started with a presentation by Dato' Carl Bek-Nielsen. All the content can be found in UP website and AR2023. It is good for less sophisticated people who do not read reports, but no new information for those who read the reports. I would like to say that this is very fair to people who are unable to attend. So UP is very transparent and thoughtful to feed all you need to know and "can know" through the published annual report at your convenience to read it miles away.

After the presentation is the Q&A session. As my fingers are slow I just rely on my ears and brain to record. I could be a biased listener and am an old man. So bear in mind this when I try to recall something.

1. Will UP make more profit in 2024? "Time will tell" said DCBN.
2. Is EPS and DPS uptrend going to last? "Don't be too greedy." "It is dangerous to be too greedy." "The trees do not grow to heaven." "Don't push too hard lah... (everybody laugh)"
3. Expansion? Buy more land? More capex? Cannot tell even if there is such a plan to avoid competition in the bidding. "We don't want to have 10 times land bank but make only half the profit (or profit margin?)."

Other questions and answers are not so important / does not give really useful information (at least for me). I think I missed some of it too. If given a chance to be transported to the AGM via time portal, what would you want to ask? Maybe your question and help me to recall something.

15 hours ago

Pinky

Thanks Sardin 👍

15 hours ago

moven00

@ Sardin
Did they manage to resolve the labor shortage issue at UP? Anyone ask on this? Are they still relying on Guess Worker? Anything mention on this in the AGM?

15 hours ago

Thank you for the info Sardin. Plantation is a business depends on weather, what human can do is preparing for all the possible crisis and hope for the best, such as water shortage mitigation, forex fluctuation, and other controllable factors are well mitigated.... God factor such as El Nino and CPO price movement are out of control.

QR got addressed labor issue, read it.

15 hours ago

Thanks Sardin👍.

15 hours ago

Hi Mooven, I can't recall any question regarding to labour. In AR2023 you can see UP hires thousands of guest workers, and it mentioned for the first time they have more than enough labours. "...tireless efforts by our HRSS Department in bringing in 781 new Guest Workers through our Ethical Recruitment Procedures during the year. As I write this message, I can confidently state that we for the first time in years are ahead of our respective work." page 23 AR2023.
programmes.

12 hours ago

I compared 1Q24 results against 4Q23. This is what I found. For those who have studied please share your findings too.

4Q23 revenue: RM544m
1Q24 revenue: RM477m (-12% QoQ)

4Q23 operating profit: RM255m
1Q24 operating profit: RM171m (-33% QoQ)

Plantation segment:

4Q23 segment revenue: RM337m
1Q24 segment revenue: RM309m (-8% QoQ)

4Q23 segment operating profit: RM218m
1Q24 segment operating profit: RM154m (-29% QoQ)

Refinery segment:

4Q23 segment revenue: RM376m
1Q24 segment revenue: RM320m (-15% QoQ)

4Q23 segment operating profit: RM38m
1Q24 segment operating profit: RM16m (-56% QoQ)

3 hours ago

On plantation revenue, 1Q24 CPO volume was far lower than 4Q23. Note B2 explains “The revenue for plantation segment decreased by 8.3% in the current quarter from the preceding quarter due to lower production”

This was partly due to seasonality as CPO production declines from October to February (refer note A3).

However, a bigger factor is 4Q23 CPO production volume was exceptionally high at 70k MT, 15% higher than same period in 2022. 1Q24 CPO production volume has since moderated back to 55k MT.

Was the high production volume in 2H23 an aberration? How about decline in Jan-Feb and subsequent recovery in Mar? Has anyone studied other company outputs and how do they compare? Did the management say anything during the AGM?

The 1Q24 CPO production volume 55,446MT * RM4,179 = RM232m is about 75% of 1Q24 plantation revenue. The other one quarter revenue may be contributed by PK, coconut and other factors I’m not aware of.

3 hours ago