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1-19 of 19
Wow ....w Temasek as a backer.....so cheap cost of finance ?
Olam International Limited announced that it will be issuing ¥ 6,000,000,000 0.9725 per cent. fixed rate senior unsecured notes due 2022. The Notes will be issued under the US$5,000,000,000 Euro Medium Term Note Programme established by the Company on 06 July 2012 and last updated on 23 November 2016. ING Bank N.V. acted as sole manager for the issue of the Notes
Olam International Limited announced that it will be issuing ¥ 6,000,000,000 0.9725 per cent. fixed rate senior unsecured notes due 2022. The Notes will be issued under the US$5,000,000,000 Euro Medium Term Note Programme established by the Company on 06 July 2012 and last updated on 23 November 2016. ING Bank N.V. acted as sole manager for the issue of the Notes
Not so soon.
johnng ( Date: 17-May-2017 09:09) Posted:
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Can it trade towards $2.23?
Looks like things are turning around. Wonder why Singapore markets not factoring input?
Press Release: June Sees Fundamental Factors Drive Commodity Markets Higher
Posted on 14 July 2015 21:03 | Dow Jones Institutional News
June Sees Fundamental Factors Drive Commodity Markets Higher
PR Newswire
NEW YORK, July 14, 2015
NEW YORK, July 14, 2015 /PRNewswire/ -- Commodities increased in June as fundamentals improved for the Agriculture Sector, according to Credit Suisse Asset Management.
The Bloomberg Commodity Index Total Return performance was positive for the month, with 11 out of 22 Index constituents trading higher.
Credit Suisse Asset Management observed the following:
-- Agriculture was the best performing sector, up 12.81%, led by grains.
Excess rainfall in the U.S., and not enough in Europe and Canada,
increased concerns of damaged Wheat crops. In addition, Soybean Meal
increased after the U.S. Department of Agriculture (" USDA" ) reported
lower than expected stocks of Soybeans.
-- Energy declined slightly, down 0.44%. Brent Crude Oil led the sector
lower amid increased production. The International Energy Agency (" IEA" )
reported that OPEC production increased in May, despite continued
oversupply. Heightened concerns over the future of Greece and the
Eurozone weighed on demand expectations.
-- Precious Metals ended the month 2.98% lower amid positive U.S. economic
data, reducing demand for safe haven assets.
-- Industrial Metals decreased 4.85% as a continued weak economic growth
outlook for China weighed on base metals demand expectations.
-- Livestock declined the most, down 5.41%. Lean Hogs decreased the most due
to an increase in U.S. pork supplies. The USDA reported that the domestic
hog herd was 9.7% larger as of June 1st compared to previous years.
Nelson Louie, Global Head of Commodities for Credit Suisse Asset Management, said: " After a slow start to the year, global growth showed signs of acceleration. In the U.S., growth signals indicated steady improvement, including an increase in consumer sentiment levels and an improved labor market. While Greece dominated the headlines, economic data out of Europe remained encouraging as manufacturing and service sector data improved. Chinese economic data remained mixed and continued to indicate that the economic health of the manufacturing sector remains uncertain. However, continued active monetary policy out of China may help pull the manufacturing sector along, which may be supportive of demand expectations of economically sensitive commodities."
Christopher Burton, Senior Portfolio Manager for the Credit Suisse Total Commodity Return Strategy, added, " Much of the global focus will remain on the impacts of a potential Greek exit from the Eurozone and the negative ramifications it may have on European and global growth. However, this will also further pressure the European Central Bank to maintain its accommodative stance. It may also influence other central banks to maintain easier policy than they otherwise would. While these macroeconomic factors will likely continue to be important in the near-term, idiosyncratic fundamental factors of individual commodities are expected to continue to be the main driver of commodity returns in the long-term."
About the Credit Suisse Total Commodity Return Strategy
As of June 30, 2015, the Team managed approximately USD 11.5 billion in assets globally.
Thanks for your input. Result are normally mid Aug. But recent heavy investment in USA ( that peanut corp ..haha) might use up their cash and increase back their loan. I accumulate small volume at 1.785 abd yes its also UBS ( wonder what they are thking or just coincident)
Agree and might be a privatise target....but I see this much later 2016 and beyond.
Just wonder any special SG50 bonus :)
Whatever at current price of 1.78./1,80 it is slightly above its book value of 1.70. ( dividend yeild aro 2.8%) Certainly worth looking into if privatise
Happy investing.
sun233 ( Date: 14-Jul-2015 11:49) Posted:
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If i' m not wrong earnings should be out on the 14 of Aug. I have notice that there is usually big selling just weeks before earnings but closer to results there is a pop. Let' s hope it happens but like i said this stock is in my long book. I managed to snag 10K at 1.87 yesterday. The sellers were UBS. Don' t know if they had the heads up about Singapore GDP numbers!! China GDP is coming up tomorrow. Might want to wait to add more. Better not to add today. Just some thought' s.
I think market will be focused on the highlighted portions which are begining to look attractive. I' m not too worried as this stock is in my long term portfolio. I do believe that it is only a matter of time before they privatise Olam. There is already some chatter about it!
For the three months ended 31 March 2015, Olam&rsquo s revenue dropped by 10.7% year over year to SS$4.3 billion on the back of lower sales volume (more on this later) which was partially offset by higher market prices.
Meanwhile, Olam&rsquo s profit after tax and minority interest (PATMI) for the quarter sank by 92.1% from S$396.1 million a year ago to S$31.3 million. Olam had singled out two main culprits:
- In the same quarter a year ago, net exceptional gains of S$293.9 million were recorded by Olam due to the revaluation of its stake in a company, and the sale of almond assets in Australia.
- In the reporting quarter, Olam had reported a net exceptional loss of S$97.2 million mainly as a result of redeeming US$750 million worth of bonds that are due by 2018. The bonds were issued at 95% of their principal amount of US$750 million and were redeemed early at 103.375% of the principal amount. ( Yup really disappointed at them terminating this. Was making good money. Sigh)
On a brighter note, Olam&rsquo s Operational PATMI (which may be a better gauge of the company&rsquo s core business functions as it excludes exceptional items) for the quarter rose by 25.7% year over year to S$128.5 million largely due to underlying growth in most business segments.
Olam&rsquo s cash flow situation also saw some strong improvement. The company ended the fiscal first-quarter with S$21.6 million in operating cash flow, S$71.9 million in capital expenditures, and thus &ndash S$50.2 million in free cash flow (free cash flow is obtained by subtracting capital expenditures from operating cash flow) a year ago, Olam had operating cash flow, capital expenditures, and free cash flow of &ndash S$671.1 million, S$171.9 million, and &ndash S$843.8 million, respectively.
Investors might also want to note that Olam&rsquo s balance sheet has improved from a year ago. As of 31 March 2015, the agribusiness outfit had a net debt to equity ratio (where net debt refers to total borrowings minus total cash) of 1.83, down from the selfsame figure of 2.03 seen in 31 March 2014.
Olam has a 2016 objective of having a balance sheet with a net debt to equity ratio of less than 2.0 with the latest figures we&rsquo ve seen, the company&rsquo s well on its way to meet that target. (Let' s see if they are closer to achieving this target)
Business highlights
The reporting quarter ended with Olam registering a 33.2% decline in sales volume to 2.683 million metric tonnes when pitted against the same quarter a year ago. Management explained that the lower volume is a result of Olam&rsquo s &ldquo deliberate strategy to grow in prioritized platforms while reducing volumes or exiting from lower-margin business.&rdquo
Olam had made a strategic plan announcement back in April 2013. Part of the plan involves the release of around S$1.5 billion in cash by 2016. Till date, the company has successfully completed 20 strategic plan initiatives which have collectively released S$966.1 million in cash.
A future outlook
In the earnings release, management had given a favourable outlook for its future prospects:
&ldquo The long-term trends in the agri-commodity sector remain attractive, and Olam is well-positioned to benefit from this as a core global supply chain business with selective integration into higher value upstream and mid/downstream segments. Olam believes its diversified portfolio with leadership positions in many segments provides a resilient platform to navigate uncertainties in global markets.&rdquo
While the big picture looks healthy, investors might still want to keep an eye on the progress in Olam&rsquo s revenue, profit, cash flow, and balance sheet to make sure the company is indeed taking advantage of the attractive trends it&rsquo s seeing.
with low commodity prices, my only concern is their comng full year result . Dont expect to be good. ( hope I am wrong)
sun233 ( Date: 14-Jul-2015 09:37) Posted:
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There is a possibilty. They will surely pay more than the 2.23 they paid earlier. A good buy for long term. Great dividend.
Maller ( Date: 13-Jul-2015 19:08) Posted:
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Really low now, for one of the biggest commodity companies. Think temasek holding more than 55%? Any chance of taking private? Bought more today
Olam is back to test the 1.80 support. Commodity counters dont seem to be expecting a good set of results with C prices at an all time low.
Maller ( Date: 09-Jul-2015 19:28) Posted:
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All the die hard supporters have jumped ship after the saga.Subconsciously they know there were issues in their accounting.
too much risk i suppose... as temasek have pump in a lot $$$ into olam....
if olam were to be second noble..... definitely image will sure impact first probably for temasek holdings...
and maybe OLAM CEO go to temasek door and ask for $$$ again probably...
maybe temasek can reduce the SSH holdings and go to others like noble as strategic moves better...
example only...
one counter $1.8x, you reduce your SSH stand... it may go down to i give it 30% from ~$1.8x = ~ $1.26
then you switch to noble... now ~$0.7x, you pump in the $$$ after the audit results are clean and green... raise up confidence.
shoot up above $1.0x, you SSH holding 2x $1.xx counters.
got left and right pockets all earning money for you and your image would not go bad as you make strategic move mah remember temasek holdings probably !
temasek will only look better as the white knight and also clever one probably...
just my views... temasek i' m looking for job as bs king lah...lol
No problem, I think this one got huge potential....Just added some
Temasek intends to keep Olam listed as per the announcement below:
He further noted, " We prefer to keep Olam as a listed company, which will continue to be guided by its board and management team. However, we will reassess our position if the minimum public float requirements are not met at the close of the Offer."
johnng ( Date: 14-Mar-2014 07:45) Posted:
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Share will remain listed despite the offer.
At $2.23 .....why ? Olam good meh ...or under value ..
johnng ( Date: 14-Mar-2014 07:45) Posted:
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Offer price $2.23. Huat ah.
TEMASEK PRIVATISE OLAM