IOI

 

Felda Global Ventures, Sime Darby, IOI Corp and Genting Plantations

IOI Corp's business profile stronger: Moody's 

BY RUPA DAMODARAN - 21 NOVEMBER 2016 

KUALA LUMPUR: Felda Global Ventures Holdings Bhd may be the leader in the palm oil sector by size but IOI Corporation Bhd has a stronger business profile, says Moody's. 

It said IOI’s highly efficient upstream operations and integrated business model supports financial stability. 

“We believe an integrated company is less exposed to CPO price cyclicality and has more stable, albeit much lower profit margins. IOI's leverage ratios exhibit more stability, helped by resilient profit margins. "

We expect Felda will maintain its production leadership position as Sime Darby's -- Malaysia's second-largest producer -- efforts to increase its CPO production through improving harvesting yields and productivity will likely be realised after 12 months," says Jacintha Poh, a Moody's Vice-President and Senior Analyst. 

Felda's annual crude palm oil (CPO) production was more than three million metric tons over its last three fiscal years, a lead of more than 500,000 MT over Sime Darby Berhad and more than four times the outputs of IOI and Genting Plantations. 

IOI's upstream operations are most efficient, with it consistently generating the highest fresh fruit bunch (FFB) yield among all four companies and in fiscal 2015, it achieved FFB yield of around 24 MT, versus Malaysia's industry average of around 18 MT-19 MT, added Poh. 

However, Moody's expects all four companies to generate lower FFB yields over the next 6 to 12 months due to poor weather conditions.

Read More : http://www.nst.com.my/news/2016/11/190582/ioi-corps-business-profile-stronger-moodys

Plantation Stocks

Top 10 Plantation Stocks Summary Table (Based on Mkt Cap)

http://www.stocks-unleashed.com/2012/02/top-10-plantation-stocks-summary-table.html

IOI Corp falls to lowest since Sept last year

IOI Corp falls to lowest since Sept last year
Written by Joseph Chin of theedgemalaysia.com
Monday, 18 April 2011 16:13


KUALA LUMPUR: Shares of IOI Corp fell to a low of RM5.28 in late afternoon trade on Monday, April 18, which was the lowest since Sept 1, 2010.

At 3.50pm, it was down 13 sen to RM5.28 with 8.40 million shares done.

The FBM KLCI rose 5.62 points to 1,527.56. Turnover was 809.16 million shares valued at RM1.07 billion. There were 414 gainers, 266 losers and 272 stocks unchanged.

The most recent development involving IOI was its acquisition of a 49.9% interest in the South Beach project in Singapore through a restructuring exercise.

To recap, recently IOI bought a 33.3% stake in the project from Elad Group Singapore Pte Ltd for S$174 million (RM417 million).

Subsequently, IOI had injected the 33.3% stake into Scottsdale PROPERTIES [] Pte Ltd. Scottsdale Properties now owns 100% of South Beach. IOI then paid S$115 million (RM276 million) for a 49.9% stake in Scottsdale and will advance S$28 million as a shareholder’s loan. The other 50.1% shareholder of South Beach is City Developments Ltd (CDL).

AmResearch said: “In total, we estimate that IOI paid S$317 million (RM761 million) for a 49.9% stake in the South Beach project. Previous reports had speculated that IOI would pay between S$170 million and S$175 million for a 33.3% stake in South Beach."

The research report said IOI and CDL may be required to further contribute equity of S$500million each to redeem existing mezzanine notes of the project, working capital and part-finance the CONSTRUCTION [] of South Beach. IOI’s investment in the South Beach project has so far cost S$817 million (RM2 billion).

“We believe that IOI would be raising funds to finance its investment in South Beach. The group’s net gearing stood at 8% as at end-June 2010. Net debt amounted RM876million while gross cash and short-term investments totalled RM3.9 billion,” AmResearch said.

IOI Corporation Berhad

Date announced 18/11/2010
Quarter 30/09/2010 Qtr 1 FYE 30/06/2011

STOCK IOICorp C0DE  1961 

Price $ 5.9 Curr. ttm-PE 18.05 Curr. DY 2.88%
LFY Div 17.00 DPO ratio 52%
ROE 19.8% PBT Margin 18.8% PAT Margin 14.2%

Rec. qRev 3519260 q-q % chg 15% y-y% chq 7%
Rec qPbt 661746 q-q % chg 7% y-y% chq 6%
Rec. qEps 7.81 q-q % chg -9% y-y% chq -2%
ttm-Eps 32.69 q-q % chg -1% y-y% chq 66%

Using VERY CONSERVATIVE ESTIMATES:
EPS GR 5% Avg.H PE 17.00 Avg. L PE 11.00
Forecast High Pr 7.09 Forecast Low Pr 5.31 Recent Severe Low Pr 5.31
Current price is at Middle 1/3 of valuation zone.

RISK: Upside 67% Downside 33%
One Year Appreciation Potential 4% Avg. yield 4%
Avg. Total Annual Potential Return (over next 5 years) 8%

CPE/SPE 1.29 P/NTA 3.58 NTA 1.65 SPE 14.00 Rational Pr 4.58



Decision:
Already Owned: Buy, Hold, Sell, Filed; Review (future acq): Filed; Discard: Filed.
Guide: Valuation zones - Lower 1/3 Buy; Mid. 1/3 Maybe; Upper 1/3 Sell.

Aim:
To Buy a bargain: Buy at Lower 1/3 of Valuation Zone
To Minimise risk of Loss: Buy when risk is low i.e UPSIDE GAIN > 75% OR DOWNSIDE RISK <25%
To Double every 5 years: Seek for POTENTIAL RETURN of > 15%/yr.
To Prevent Loss: Sell immediately when fundamentals deteriorate
To Maximise Gain & Reduce Loss: Sell when CPE/SPE > 1.5, when in Upper 1/3 of Valuation Zone & Returns < 15%/yr


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Published: Thursday November 18, 2010 MYT 1:29:00 PM

IOI Corp 1Q net profit up RM19.7 million

PETALING JAYA: IOI Corp Bhd saw its first quarter net profit increase by 4.13% to RM498.13 million from a year ago while pre-tax profit was 6% higher at RM661.7 million due to higher profits from its plantation unit and higher unrealised translation gain on foreign currency denominated borrowings.

The company told Bursa Malaysia on Thursday that it expects satisfactory performance for its present fiscal year due to strong crude palm oil (CPO) prices and a resilient property market.

For the three-month period ended September 30 2010, the plantation segment recorded a 38% gain in operating profit to RM345.3million from a year ago due to higher CPO prices realised and a marginal increase in fresh fruit bunches production.

Average CPO price realised for the first quarter was RM2,598/MT compared to RM2,294/MT from the previous corresponding period.

IOI Corp's first quarter revenue grew by 7.4% to RM3.52 billion.

http://biz.thestar.com.my/news/story.asp?file=/2010/11/18/business/20101118133526&sec=business

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IOI Corp 1QFY2011 net profit up 4.12% to RM498.13m
Written by Surin Murugiah
Thursday, 18 November 2010 13:36

KUALA LUMPUR: IOI CORPORATION BHD [] net profit for the first quarter ended Sept 30, 2010 rose 4.12% to RM498.13 million from RM478.38 million a year ago, due mainly to higher profit contribution from the PLANTATION [] segment and higher unrealised translation gain on foreign currency denominated borrowings.

The company recorded revenue RM3.52 billion for the quarter, compared to RM3.26 billion last year. Earnings per share was 7.81 sen, while net assets per share was RM1.65.

In a filing to Bursa Malaysia on Thursday, Nov 18, IOI Corp said the plantation segment reported a 38% increase in operating profit to RM345.3 million for Q1FY2011 as compared to RM249.8 million for Q1 FY2010.

The higher profit was due mainly to higher CPO prices realised as well as a marginal increase in FFB production, it said.

Average CPO price realised for Q1 FY2011 is RM2,598/MT compared to RM2,294/MT for Q1 FY2010, it said, IOI Corp said its property development and investment segment’s operating profit of RM160.3 million for Q1 FY2011 was in line with Q1 FY2010.

The resource-based manufacturing segment’s operating profit decreased from RM158.9 million in Q1FY2010 to RM40.4 million in Q1 FY2011 due mainly to lower volume and margins and fair value losses on the adoption of FRS 139, it said.

http://www.theedgemalaysia.com/business-news/177288-ioi-corp-1qfy2011-net-profit-up-412-to-rm49813m.html

Plantation stocks up as CPO climbs

Plantation stocks up as CPO climbs
Tags: Batu Kawan | Boustead | Genting Plantations | IOI Corp | KLK | Kulim | Sime Darby

Written by Surin Murugiah
Monday, 25 October 2010 11:29


KUALA LUMPUR: PLANTATION []-related stocks advanced on Monday, Oct 25 as crude palm oil futures rose Monday morning and was up RM66 per tonne to RM3,071.

At 11.40am, KLK was up 44 sen to RM18.94, Kulim gained 27 sen to RM9.79, Boustead and Batu Kawan were up 24 sen each to RM5.90 and RM15.54 respectively, Genting Plantations rose 14 sen to RM8.58, Sime Darby up eight sen to RM8.88 and IOI Corp added three sen to RM5.82.

http://www.theedgemalaysia.com/business-news/175913-plantation-stocks-up-as-cpo-climbs.html

A quick look at IOI (26.5.2010)

A quick look at IOI (26.5.2010)
http://spreadsheets.google.com/pub?key=t6k-5R8Ct5ImEhMAU1ZokUA&output=html

A quick look at IOI Corp (14.5.2010)

A quick look at IOI Corp (14.5.2010)
http://spreadsheets.google.com/pub?key=tb5g_wc85QNAyl7rEqUx7Ng&output=html