|Bid||0.2900 x 0|
|Ask||0.2950 x 0|
|Day's range||0.2900 - 0.3050|
|52-week range||0.2250 - 0.3700|
|Beta (3Y monthly)||0.25|
|PE ratio (TTM)||N/A|
|Earnings date||13 May 2019 - 17 May 2019|
|Forward dividend & yield||0.01 (2.11%)|
|1y target est||0.21|
SINGAPORE (Mar 5): RHB Research is reiterating Golden Agri-Resources at “sell” with an unchanged target price of 23 cents after earnings reversed further into the red in 4Q18, with FY18 core net loss coming in significantly below expectations. To recap, Golden Agri reported US$91.3 million of losses from a profit of US$40 million in FY17. For 2019, Golden Agri intends to replant 15,000ha in 2019 from 10,500ha to rejuvenate its tree age profile of 16 years on average.
SINGAPORE (Feb 27): Golden Agri-Resources, the Indonesia based palm oil plantation with integrated operations for the production of edible oil and fat, swung back into profitability in 4Q18 with earnings of US$79.3 million from a loss of US$29.1 million a year ago.However, Golden Agri still recorded a net loss of US$2 million for FY18 primarily because of foreign exchange loss, loss from changes in fair value of biological assets and deferred tax expense. In FY17, Golden Agri reported earnings of US$74 million.In FY18, Golden Agri recorded revenue of US$7.2 billion in FY18, a slight decrease compared to the previous year as affected by weaker palm oil prices.Golden Agri says declining palm oil prices continued to be the main factor in weaker performance in FY18, especially from the plantations and palm oil segment. The industry as a whole saw very strong plantation output in FY18, resulting in high inventory levels and lower prices.In the Plantations and palm oil mills segment, 4Q18 fruit yield reached 5.9 tonnes per hectare, 11% lower quarter-on-quarter due to seasonality. Despite the reduced mature area, harvested fruits expanded to 10.5 million tonnes with a fruit yield of 22.5 tonnes per hectare, at the top of the industry range. Palm product output reached a new record of slightly over three million tonnes in 2018, 12% higher than last year. As a result, Golden Agri’s FY18 upstream EBITDA reached US$391 million with a margin of 27%.Revenue from the Palm, laurics and others segment reached US$7.1 billion, slightly lower than last year due to lower selling prices. Sales volume was maintained at 10.2 million tonnes although the volume at China oilseeds business contracted after the divestment of the Tianjin plant. With expanded 4Q18 EBITDA of US$120 million, full year EBITDA was US$184 million, 11% higher compared to the previous year.For FY18, the board has proposed a final dividend of 0.58 cents per share or approximately US$54 million in total.Franky O. Widjaja, Golden Agri Chairman and CEO, says: “FY18 was a challenging year for operators in the palm oil industry. I am pleased that GAR once again proved resilient in unfavourable circumstances, based on our long-term investment in a vertically integrated operation. Our focus remains on building GAR’s core competitive edge, delivering sustainably produced palm oil and palm-based products in an efficient and innovative way.”Shares in Golden Agri closed at 28 cents on Tuesday.
Some of the world's major palm oil users, including Nestle, Unilever, and Mondelez, are trying out new satellite technology to track deforestation, as pressure grows on them to source the ingredient responsibly. Palm oil buyers have toyed with satellite imagery for years, but have now ramped up their use as they rush to meet a pledge of zero net deforestation by 2020, set by global umbrella body the Consumer Goods Forum.
* Vietnamese, Thai stocks set for 4-week losing streak * Philippine shares set for best weekly gain in almost 2 years By Rashmi Ashok Jan 4 (Reuters) - Philippine shares surged on Friday as the country's ...
SINGAPORE (Nov 13): Golden Agri-Resources reversed into the red in 3Q18 and 9M18 ended Sept with losses of US$53.9 million ($74.6 million) and US$81.1 million respectively on weaker palm oil prices.
By Aman Swami Nov 12 (Reuters) - Southeast Asian stock markets slipped on Monday as soft Chinese economic data last week rekindled anxieties about the outlook for global growth, weighing on investor sentiment. ...
By Rashmi Ashok Oct 19 (Reuters) - Most Southeast Asian stock markets closed lower on Friday, as weak economic data from China added to concerns over trade tensions, hurting investor sentiment. China's ...
When Golden Agri-Resources Ltd (SGX:E5H) released its most recent earnings update (31 March 2018), I compared it against two factor: its historical earnings track record, and the performance of itsRead More...
Golden Agri-Resources Ltd (SGX:E5H) is trading with a trailing P/E of 62.1x, which is higher than the industry average of 15.4x. Although some investors may jump to the conclusion thatRead More...