|Bid||1.8700 x 0|
|Ask||1.8800 x 0|
|Day's range||1.8600 - 1.9000|
|52-week range||1.5700 - 2.3300|
|Beta (3Y monthly)||0.52|
|PE ratio (TTM)||20.00|
|Earnings date||13 Aug 2019 - 19 Aug 2019|
|Forward dividend & yield||0.08 (4.04%)|
|1y target est||1.96|
SINGAPORE (May 14): Olam International has announced earnings of $168.9 million for 1Q19, rising 6.9% y-o-y from $158 million due to improved operating performance, which was offset in part by increased depreciation and finance costs.
SINGAPORE (May 2): Olam International says its Mouila Lot 3 palm plantation in Gabon has become Roundtable on Sustainable Palm Oil (RSPO) certified.The 38,363 hectare (ha) palm plantation is managed by Olam Palm Gabon, a joint venture between Olam and the Republic of Gabon, and has a total planted area of 18.272 ha, out of which 18,765 ha of high conservation value (HCV) is being conserved.The remaining area comprises infrastructure comprises facilities, roads and housing.Based on the RSPO greenhouse gas (GHG) calculator, the plantation is expected to make a net positive climate impact by fixing 236,000 metric tonnes (MT) of carbon dioxide over the next 25 years. In a press release on Thursday, Olam says Mouila Lot 3 is the third plantation to become RSPO-certified, including the renewed RSPO certification for its Mouila Bilala palm oil mill.This also brings Olam’s total RSPO-certified concession area to a total of 94,000 ha, and makes the group the largest certified producer in Africa with a production capacity of 74,000 MT of certified sustainable palm oil (CSPO) as well as 13,000 MT of certified sustainable palm kernel oil (CSPKO).“We are proud to be at the forefront of implementing sustainable practices on our plantations that are positively contributing to protecting landscapes and to supporting communities in Gabon. This certification is the most recent milestone in our continued progress towards sustainable palm production and sourcing, both on our own plantations and through our third-party supply chain”, comments Supramaniam Ramasamy, Olam’s global head of plantations.In this week’s issue of The Edge Singapore, we discuss recent criticism heaped on the palm oil industry’s practices, and how boycotting or restricting demand for the commodity does not make it more sustainable.Login to read the full story, Misdirected moral outrage pushes palm oil industry into unsustainable corner, or click here to subscribe.
Ivory Coast banned rice imports from Singapore-based commodity trader Olam International for one year after destroying an 18,000-tonne shipment of "spoilt" rice, the commerce ministry said. Olam said in a statement on Tuesday that it was disappointed by the ministry's decision, which was first announced last Friday. "The unique circumstances relating to the recent rejection of a cargo of rice were unfortunate and not representative of the shipments of rice into Ivory Coast," Olam said.
Commodity trader Olam International on Tuesday said it will buy Dangote Flour Mills Plc , as it looks to bolster its position in Nigeria's wheat market. Olam's Nigerian unit, which holds a 0.1 percent stake in Dangote Flour Mills, will buy the rest of the company for an enterprise value of 130 billion naira ($425 million). The deal expands Olam's reach in the pasta market in Nigeria, as it looks to cash in on the growing demand of wheat-based products in the region.
** ING Groep's chief executive Ralph Hamers told shareholders that the Dutch bank would consider a cross-border takeover under some circumstances, Dutch daily Financieele Dagblad reported. ** Britain's competition regulator said it expected to publish its final report on supermarket group Sainsbury's proposed 7.3 billion pound ($9.4 billion) takeover of Walmart-owned rival Asda on Thursday. ** Commodity trader Olam International said it will buy Dangote Flour Mills Plc, as it looks to bolster its position in Nigeria's wheat market.
Singapore-headquartered agribusiness Olam International has secured an innovative new type of corporate loan that links pricing to the borrower’s progress towards its digital transformation. The US$350m three-year revolving credit facility is a digital loan (D-loan), a form of positive incentive loan (PIL), which rewards borrowers that achieve pre-arranged targets by cutting their borrowing costs. Olam’s financing, which refinances existing loans, is the first time that a syndicated loan has been linked to the digital maturity of a company, the company said.
Singapore-based Olam International on Thursday said it planned to invest more on expanding its cocoa business, while reporting a 34-percent fall in quarterly profit partly due to lower contributions from its coffee and rice operations. "As far as cocoa strategy is concerned, it is one of our crown jewel businesses," Chief Executive Officer Sunny Verghese said at Olam's results briefing, adding that it would invest across areas including origination, processing and research. Meanwhile, Verghese said that profit-margins in the company's coffee business would be under pressure in the first-half of 2019.
SINGAPORE (Feb 28): Olam International reported 4Q18 earnings of $75.3 million, down 71.6% from a year ago due to a large exceptional gain of $155.4 million recorded in 4Q17.
Olam International said on Tuesday it has acquired an 85 percent stake in the parent of Indonesia's largest cocoa processor as it seeks to supply a growing market for cocoa products in Asia. The Singapore-based global food and agri-business said it will pay $90 million for the stake in YTS Holdings Pte which is the owner of PT Bumitangerang Mesindotama (BT Cocoa). The remaining 15 percent will be held by the founding members of BT Cocoa, Piter Jasman and his family.
Wilmar International Ltd shares fell more than 4 percent on Friday after the Singapore-listed commodity trader said its quarterly net profit halved, mainly due to a provision linked its Australian sugar assets. Reporting October-December earnings late on Thursday, Wilmar made a provision for a $138.6 million impairment on its goodwill and sugar milling assets in Australia, citing ongoing depressed sugar prices, in the fourth quarter.
Japan's biggest trading house Mitsubishi Corp on Tuesday posted a 6 percent rise in its April-December net profit thanks to higher income from energy operations, and stuck to its record profit forecast for the year despite one-off losses. Mitsubishi's net profit grew to a record 442 billion yen ($4 billion) for the nine months to Dec. 31 from 416 billion yen a year ago.
Mitsubishi Corp booked an impairment loss of about 28 billion yen ($255 million) on its stake in Olam International in the October-December quarter but it has no plan to trim its stake in the Singaporean commodity trader, its CFO said on Tuesday. Japan's biggest trading house also took an impairment loss of about 31 billion yen on its investment in iron ore mines in Chile in the same quarter due to an extra environmental cost and a repair cost for a broken shiploader at a port, Chief Financial Officer Kazuyuki Masu told a news conference. Olam said last month that it plans to invest $3.5 billion into key growth areas, such as edible nuts, coffee and cocoa, over the next few years, while exiting four existing businesses to raise funds.
Singaporean commodity trader Olam International plans to invest $3.5 billion into key growth areas, such as edible nuts, coffee and cocoa, over the next few years, while exiting four existing businesses to raise funds. The agricultural commodity trader will double down on 12 prioritised businesses, which include spices, edible oils, cotton, dairy, grains and animal feed. "We will continue to invest in businesses where we have consistently performed, have market leading positions, clear differentiation, it is in line with the key consumer trends and there is significant potential for future growth," chief executive Sunny Verghese told a briefing.