| Latest Forum Topics / Wilmar Intl Last:3.04 -- |
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Wilmar - Watch for a Strong Rally to Come!
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eurekaw
Master |
17-Jun-2013 10:46
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fantastic move!:P |
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guoyanyunyan
Elite |
17-Jun-2013 09:14
Yells: "uncertainty always exist" |
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...Wilmar is a good buy for long term player (think so)... strong support @ $3.00...
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Octavia
Elite |
17-Jun-2013 09:03
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wilmar opening strong. married deal 750K@$3.13. Trading up 5c.Must have some positive news. |
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Octavia
Elite |
14-Jun-2013 09:54
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There is good support at $3.00 for Wilmar given: (1) top management—Kuok Khoon Hong and Martua—bought Wilmar stocks at $3.17-3.18/share (2) share buybacks at $3.00 and (3) Wilmar’s forward P/B of 0.9x is very close to the GFC low of 0.8x. |
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beginners
Senior |
11-Jun-2013 20:30
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See whether can down to 3. Prepare to get a few:) |
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guoyanyunyan
Elite |
11-Jun-2013 16:25
Yells: "uncertainty always exist" |
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DBS says palm oil prices to remain under pressure DBS Vickers expects planters to continue underperforming regional indices as crude palm oil prices are likely to remain under pressure for the rest of the year. It has ‘hold’ ratings on Wilmar International, Bumitama Agri and Indofood Agri Resources. However, DBS has a “buy” rating and $2.14 target price on First Resources. Malaysia’s palm oil production edged up 1.3% to 1.384 million tonnes in May from a month earlier, while inventories slid 5.1% to 1.816 million tonnes, data from the Malaysian Palm Oil Board showed on Monday. China’s port-based palm oil inventory further expanded by 9% month-on-month to 1.386 million tonnes, indicating that the country’s palm oil imports will probably remain flat ahead of this year’s mid-Autumn festival, DBS said in a report on Tuesday. Subject to stronger exports elsewhere, Malaysian palm oil inventories are hence expected to pile up again to 1.825 million tonnes in June and peak at 2.14 million tonnes in December, pushing palm oil prices down, DBS said. ...Last Done: $3.15... |
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guoyanyunyan
Elite |
11-Jun-2013 08:45
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...Married Deal: Vol: 500 Value: $1,578,500 ie $3.157/share Prev Close: $3.14... ...yesterday close with a doji pattern after 3-days of black... . ...doji indicate the selling pressure has ease somewhat ....let look out for confirmation... |
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guoyanyunyan
Elite |
07-Jun-2013 08:57
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...Married Deal: Vol: 768 Value: $2,440,704 ie $3.178/share Prev Close: $3.17... |
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guoyanyunyan
Elite |
04-Jun-2013 08:45
Yells: "uncertainty always exist" |
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...Married Deal: Vol: 110 Value: $358,050 ie $3.255/share Prev Close: $3.24... ...yesterday close with a doji pattern after 3-days of black... ,...doji here indicate the strength of bear has somewhat weaken....let wait for confirmation today... |
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Octavia
Elite |
31-May-2013 09:42
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Wilmar is down 0.9% at $3.28, extending its recent weakness. According to Bloomberg, the EU Commission has on 27 May ’13 put the highest provisional anti-dumping tariffs on Wilmar’s biodiesel sales to the EU at 9.6%. These measures were applied bcs of complaints filed by the European Biodiesel Board, which pointed to prima facie evidence of the dumping of biodiesel. Other Indonesia companies have been slapped with tariffs of btwn 2.8 % to 9.6%. DBSV says the affected parties have one-month to respond before the measure are implemented. Wilmar does not disclose its biodiesel segment contribution, but DBSV believes Wilmar should be sufficiently diversified in other markets, such that impact is “insignificant”. The house keeps its Hold rating and TP $3.34. Judging from Wilmar’s price action, other market watchers may not be convinced. Indonesia expects its biodiesel installed capacity to reach 3.6m tons this year, accounting for 9% of worldwide supply, according to the Indonesian Vegetable Oil Refiners Association. Imports from Indonesia have jumped considerably over 2008, with market share rising dramatically from 1.4% to 9.7%, according to EU data. The EU is set to issue a final ruling on whether to turn the provisional duties into permanent levies that may end in 5 yrs after a full investigation is finished in the next few mths. |
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guoyanyunyan
Elite |
29-May-2013 12:21
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Malaysia’s inventory hit 9-month lowMalaysia’s CPO inventory for April 2013 decreased meaningfully mom by 11.3% to 1.927mn tons (which is the 4th consecutive monthly decline), while still up 4.1% yoy, according to MPOB. This is despite a 5.6% mom fall in exports (but +8.7% yoy), which was mainly due to easing demand from China during the month. We expect Malaysia’s CPO inventory to ease further over the next 2 months, as CPO demand from South Asia and the Middle East historically picks up ahead of Ramadan (which starts in July this year). Having said that, we believe the drawdown of inventories will not be as substantial as the ones we saw in March (-10.9% mom) and April (-11.3% mom) this year. After Ramadan, inventory should start to recover and rise as production increases in 2H. Healthy production from Malaysia and IndonesiaCPO production in Malaysia from January to April 2013 rose by 12.7% yoy. Malaysia’s April CPO production continues to rise for the 2nd consecutive month by 3.1% mom (+7.4% yoy). As mentioned in our previous sector report, the higher production is mainly due to palm plantations recovering from tree “stress”, and we believe this improvement will continue for the rest of the year. Over at Indonesia, we also see YTD CPO production growth in Indonesia as shown in figure 5. Going forward, we expect production in both countries to stay healthy for 2013, which in turn will limit any upside potential in CPO prices. Strong palm oil output alleviating global vegetable oils supplyBased on USDA projections in May 2012, we estimate that the stock/usage ratio of global vegetable oils (including palm, rapeseed, soybean and sunflowerseed) in 2013/14 is 12.1% (vs. 11.4% in 2012/13). This rise in stock/usage ratio indicates supply alleviation for global vegetable oils, in particular for palm oil (17.2% in 2013/14 vs. 14.8% in 2012/13) due to greater production, especially in Indonesia – the top palm oil producer. CPO is currently trading at ~US$300/MT discount to soybean oil, which is still above its historical long-term average of US$200/MT. That said, we believe the lower CPO prices will make exports more attractive as compared to soybean oil. Top pick: WilmarWe believe there is likely limited upside in CPO prices in the near to medium term. This is because palm oil production historically picks up during the 2nd half of the year, before reaching its peak in October. This, coupled with an anticipated higher soybean harvest from the US in 2H13, would continue to exert downward pressure on CPO prices in the 2nd half of the year. Given that more than 90% of Golden Agri’s (Neutral, TP: S$0.55) profits come from its upstream palm plantations, both earnings and stock price will be affected by the weaker CPO prices. We continue to like Wilmar (Accumulate, TP: S$3.70) for its positive long-term fundamentals. Furthermore, we believe Wilmar will be least impacted (among other plantation companies) by lower CPO prices, given that its upstream operations account for only ~25% of its profits. ...Last Done: $3.36... |
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guoyanyunyan
Elite |
29-May-2013 12:16
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Earnings surprise?The recent earnings season ended with a mixed bag of results. For upstream planters, First Resources beat market expectation with strong net profit growth, while Indo-Agri reported a lower-than-expected net profit on lower production and average selling price. Golden Agri’s results were mostly in-line thanks to better-than-expected drawdown in inventory which boosted sales volume. In addition, its China operations managed to turn around after 3 consecutive quarters of losses on lower soybean costs. For commodity traders, Noble reported weak 1Q results on agriculture losses and poor base metal demand, while Olam’s 3Q earnings were satisfactory on higher volume growth from its Food Staples division. Wilmar’s results were within expectations on robust palm refining performance and volume growth across all business segments. Top pick: Wilmar InternationalWe believe there is likely limited upside in CPO prices in the near to medium term. Given that more than 90% of Golden Agri’s profits come from its upstream palm plantations, both earnings and stock price will be affected by the weaker CPO prices. We continue to like Wilmar for its positive long-term fundamentals. Furthermore, we believe Wilmar will be least impacted (among other plantation companies) by lower CPO prices, given that its upstream operations account for only ~25% of its profits. |
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springpig
Member |
16-May-2013 11:01
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I think it's better to wait just a little bit more... if there's a correction, it will provide buying opportunity, therefore there's a good chance BB will load and push the price up. anyway market is still upset with the low CPO price(and probably some concerns on high labor cost & palm plantation related issues). I personally think buying agri stocks during the dip will give impressive reward in the near future. |
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equity
Member |
15-May-2013 23:11
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Seems like BBs only interested in pushing up Olam now. Hope they are in collection mode with Wilmar for later play. So fed up of waiting! |
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guoyanyunyan
Elite |
15-May-2013 08:47
Yells: "uncertainty always exist" |
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...Married Deal: Vol: 125 Value: $420,705 ie $3.366/share Prev Close: $3.38.... |
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guoyanyunyan
Elite |
14-May-2013 16:57
Yells: "uncertainty always exist" |
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...will it close the gap at $3.31....?...last done: $3.37... |
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james87
Veteran |
14-May-2013 16:50
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Indeed quite disappointed with Wilmar stock px. Never recover since very long ago already and when STI is already 3400. |
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equity
Member |
14-May-2013 15:28
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What's happening with this counter? It 's had such a stellar quarter! Who keeps pushing it down? |
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guoyanyunyan
Elite |
10-May-2013 08:53
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...Married Deal: Vol: 782 Value: $2,671,312 ie $3.416/share Prev Close: $3.42 recent low: $3.250... |
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guoyanyunyan
Elite |
09-May-2013 13:08
Yells: "uncertainty always exist" |
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Wilmar International - Earnings recovery underwayAbove expectations. 1Q13 results were above expectations, with recurring net profit up 53% yoy and making up 23% of full-year consensus (2H is seasonally stronger due to sugar contributions). We remain convinced that earnings expectation are still too low, and current stock price level represents an opportunity for accumulation. Recurring net profit up 53% yoy. Growth was driven by increasing overall volume (up 13% yoy) and better margins. In particular, oilseeds & grains reversed its losses from last year, with a swing factor of USD99.7m. The sugar business continues to show good potential, with high volume growth and narrowing seasonal losses. The 53% growth came in spite of lower CPO prices being a drag factor. Decline in plantation earnings will be mitigated. While Wilmar is one of the largest palm plantation owners in the world, upstream earnings only accounted for 17% of earnings in 1Q13. Even with a decline due to lacklustre CPO prices, we expect the other businesses to more than pick up the slack. We see this environment as positive for its palm & laurics division, which will enjoy healthy margins with lower feedstock cost and high stockpile level. Other businesses are building up well. We are positive on the buildout of other businesses. For example, sugar which is relatively new will be an important contributor this year. Merchandising volume continues to grow exponentially (up 144% yoy) and the increasing scale may bring in operating leverage on the bottom-line. The recent acquisition of a 26.5% stake in Cosumar will give it presence in North Africa for sugar, also completing its presence in Africa. Look forward to earnings recovery. With a dominant agribusiness, Wilmar remains very relevant to longer-term growth in Asia. Valuations are at cyclical lows and represent opportunity for accumulation. We keep our forecasts largely unchanged, and expect earnings to rebound from 2012 levels, though we are wary of quarterly fluctuations especially from soybean crushing, where profit continues to be generated opportunistically. We reiterate BUY, with a TP of SGD4.60, pegged to 16x FY13F, its five-year historical mean. |
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