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3 ways to evaluate Plantation Stocks - Koon Yew Yin

The best way to compare plantation stocks is to total up the FFB production for the last 3 months for each company and divided by its Market capitalisation. The reason is that all the plantation companies will have to report their profit for the quarter ending March before the end of May. Due the record high CPO price all the planation companies will report increased profit. Which will report the best profit in comparison with its market capitalisation?

Name

FFB in last 3 months Tons

Total 3 months

Market Cap

Rm million

3 months FFB ÷ Market Cap 

Subur Tiasa

18,295





22,857

70,132

483

145.2


28,980




Jaya Tiasa

55,365





43,722

151,243

1,091

138.6


52,158




MHC

10,035





9,005

29,138

259

114.4


10,599




SOP

76,725





88,787

267,790

3,695

72.5


102,278




Sarawak Plant

19,126





20,038

64,382

823

78.2


25,218




Cepatwawasa

6,982





6,717

23,074

375

64.6


9,375




Hap Seng

43,563





40,628

136,378

2,560

53.3


52,187




Ta Ann

45,505





39,498

123,367

2,740

48.3


47,364









Subur Tiasa , Jaya Tiasa and Ta Ann also produce sawn timber, ply wood and wood chip boards. 

Comparison based on historical PE

Name

Price Rm

Latest EPS

Latest EPS X4

Price ÷EPS X4

Subur

2.20

16.15

64.6

3.4

Cepat

1.14

7.74

31.0

3.4

SOP

6.32

36.44

Rm1.56

4.1

Jaya Tiasa

1.09

5.28

21.12

5.2

Sarawak Pl

2.90

11.66

46.6

6.2

Hap Seng

2.49

11.79

47.2

6.3

Ta Ann

5.59

21.8

82.2

6.4

Comparison based on Market cap ÷ planted Hectare

Name

Price Rm

Market Cap

Million

Hectare

MC÷Ha

Subur

2.20

460

44,000

10.5

Jaya Tiasa

1.09

1,062

70,000

15.2

SarawakPl

2.90

812

35,000

23.0

Cepat

1.14

360

10,000

36.0

SOP

6.20

3,580

88,000

40.6

Ta Ann

5.94

2,642

50,000

52.8

Hap Seng

3.05

2,392

35,000

67.0

Indonesia Government bans palm oil export.

The Indonesian Government just announced the ban of palm oil export to help the local consumers because the palm oil price has been going up higher and higher. As a result, CPO price has not retreated from its historical high. As shown on the CPO price chart below the current price is Rm 6,869.00 per ton. 

https://klse.i3investor.com/web/blog/detail/koonyewyinblog/2022-04-25-story-h1621610367-3_ways_to_evaluate_Plantation_Stocks_Koon_Yew_Yin
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