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NewsSECTOR FOCUS: PLANTATIONS: Plantation sector wrap-up
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SECTOR FOCUS: PLANTATIONS: Plantation sector wrap-up
by Cals Tue 27 Oct 2015, 00:18
SECTOR FOCUS: PLANTATIONS: Plantation sector wrap-up
By Asia Analytica / The Edge Financial Daily | October 26, 2015 : 10:33 AM MYTUnited Malacca Bhd: An upstream planter that trades at 0.8 times book value and has an average tree age of 9.8 years. This will ensure steady fresh fruit bunch (FFB) growth moving forward as palm oil trees typically reach prime production from 8 — 15 years. As such, the company should see stronger earnings growth relative to its peers, which will deflate its current ex-cash P/E of 22.8 times.
Far East Holdings Bhd: This Pahang-based upstream planter will appeal to yield-seeking investors. The company has an above-average dividend yield of 4.1%, trades below book value and a sizeable cash pile of RM243.9 million, equivalent to 23.7% of its market capitalisation. Some 14.8% of its trees are immature, which will drive longer term growth.
Kim Loong Bhd: The Johor-based upstream planter and miller has a sizeable milling business, providing a more diversified income stream when CPO prices are volatile. The stock trades at a low ex-cash P/E of only 9.4 times, with a very high dividend yield of 8.2%. The stock was included in InsiderAsia’s Income Portfolio in June, and has since risen 9.7% relative to the FBMKLCI’s 0.4% decline.
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