Post Reply
221-240 of 9067
UOB Kay Hian keeps ' buy' on Wilmar ahead of 1QFY2023 results
UOB Kay Hian (UOBKH)&rsquo s analysts Leow Huey Chuen and Jacquelyn Yow Hui Li have kept their &ldquo buy&rdquo call on Wilmar International (Wilmar) F34 0.00% at an unchanged target price of $5.50 ahead of the group&rsquo s results for the 1QFY2023 ended March 31. Wilmar is slated to release its results on April 28.
&ldquo Our target price is derived using the sum-of-the-parts (SOTP) valuation by pegging a FY2023 P/E of 17x for the China operations and a blended 11x P/E for the non-China operations. The fair value of $5.50 translates to a blended FY2023 P/E of 15.3x,&rdquo they say.
In their report dated April 18, Leow and Yow are expecting the group&rsquo s core net profit to come in at around US$350 million ($467.6 million) to US$380 million, which makes up about 18% to 20% of their full-year forecast.
To them, the earnings will largely be coming from a turnaround in Yihai Kerry Arawana (YKA)&rsquo s sales volumes y-o-y. This is mainly driven by consumption spending to drive the sales volume for consumer packs and sales for medium and bulk segments due to festival demand. YKA is Wilmar&rsquo s Chinese subsidiary. The strong recovery from Wilmar&rsquo s China operations is also behind the analysts&rsquo positive outlook for the group.
&ldquo YKA&rsquo s feed and oleochemical segments may not see strong contribution but are at least expected to be profitable,&rdquo they write.
The analysts' confidence is further amplified by their visit to YKA&rsquo s central kitchen food park in Hangzhou in late March.
&ldquo We were impressed by the very young and knowledgeable team driving the operations, wider-than-expected product range, and fast take-up rate on the rental space. This is the smallest CK and was the first in operations with a capex of approximately US$50 million,&rdquo say the analysts.
This central kitchen is also the official caterer for the Asian Games in Hangzhou, which will be held from Sept 28 to Oct 8.
According to Wilmar&rsquo s recent annual general meeting (AGM) response, the central kitchen food parks generate their revenue from multiple sources, such as their own central kitchens, rental income from tenants, sale of their products to tenants and provision of services.
The turnaround in YKA&rsquo s contribution may offset the lower demand from Wilmar&rsquo s tropical oils segment, the analysts suggest.
Despite the weak demand, Wilmar&rsquo s tropical oils performance in 1QFY2023 may still outperform its peers despite sharp margin compressions, say the analysts.
&ldquo Based on our channel checks, most downstream players were complaining about marginal profit or even losses in 1QFY2023 for their downstream operations due to weak demand while
crude palm oil (CPO) price remains relatively firm in 1QFY2023 due to a shortage of supply,&rdquo they say.
Although Wilmar&rsquo s refining margin may not have higher profit margins with the absence of market volatility, the analysts think that the segment may still report a relatively healthy margin in 1QFY2023 with its integrated model, economies of scale and better timing when securing its feedstock.
Finally, the analysts expect some profit contribution from Wilmar&rsquo s sugar milling segment with the harvesting season delayed to January.
While sugar milling does not usually contribute to the first half of profits as milling season starts in the second quarter of the year, high rainfall in Queensland has delayed harvesting which caused some of the milling profits to carry over to 1QFY2023.
&ldquo This compensated for the weaker contributions from palm oil, while sugar merchandising continues to benefit from a larger white sugar premium,&rdquo say the analysts.
UOB KH
Wilmar International (WIL SP) Contributions From YKA Compensates Weakness From Tropical Oils We estimate Wilmar&rsquo s 1Q23 core net profit at US$350m-380m (1Q22: US$328m). 1Q23 earnings will be largely coming from a YKA turnaround and higher contributions from sugar, well compensating the weakness from tropical oils. Recall that in 1Q22, YKA suffered from severe margin compression and contributed only 6% of Wilmar&rsquo s PBT. YKA should be able to deliver a better 1Q23 performance with slightly better margins and higher sales volume yoy. Maintain BUY. Target price: S$5.50.
WHAT&rsquo S NEW &bull 1Q23 results preview. Wilmar International (Wilmar) is scheduled to release its 1Q23 result on 28 Apr 23. We expect 1Q23 profit at US$350m-380m (1Q22: US$328m, 4Q22: US$467.6m), making up about 18-20% of our full-year forecast. The better yoy performance is driven largely by Yihai Kerry Arawana (300999 CN) (YKA), while the qoq weakness is largely due to lower contribution from tropical oils. &bull Tropical oils performance still relatively better than industry.
Wilmar International (WIL SP) Contributions From YKA Compensates Weakness From Tropical Oils We estimate Wilmar&rsquo s 1Q23 core net profit at US$350m-380m (1Q22: US$328m). 1Q23 earnings will be largely coming from a YKA turnaround and higher contributions from sugar, well compensating the weakness from tropical oils. Recall that in 1Q22, YKA suffered from severe margin compression and contributed only 6% of Wilmar&rsquo s PBT. YKA should be able to deliver a better 1Q23 performance with slightly better margins and higher sales volume yoy. Maintain BUY. Target price: S$5.50.
WHAT&rsquo S NEW &bull 1Q23 results preview. Wilmar International (Wilmar) is scheduled to release its 1Q23 result on 28 Apr 23. We expect 1Q23 profit at US$350m-380m (1Q22: US$328m, 4Q22: US$467.6m), making up about 18-20% of our full-year forecast. The better yoy performance is driven largely by Yihai Kerry Arawana (300999 CN) (YKA), while the qoq weakness is largely due to lower contribution from tropical oils. &bull Tropical oils performance still relatively better than industry.
Touched support around 406 and bounced back !
If it' s true that there are fears of global sugar shortages, it is beneficial to WIlmar. Lolxx
Prices goes up, more profitability.
https://www.facebook.com/watch/?v=771287680259270
Prices goes up, more profitability.
https://www.facebook.com/watch/?v=771287680259270
tedlim ( Date: 12-Apr-2023 20:08) Posted:
|
Fears of global sugar shortage drive prices to decade high
WED, APR 12, 2023 - 07:31 PM
SUGAR climbed again in New York, hitting the highest in a decade on persistent worries about tight global supplies.
Raw sugar rose as much as 1.9 per cent, before trimming some of the gain. Futures have surged lately on prospects for limited exports out of India and concerns about production in other key growers, with Wilmar International Ltd. expecting a deficit for this season.
The market has also been driven higher by a lack of deliverable sugar ahead of the expiry of the May white-sugar contract on Friday (Apr 14). Large open interest signals that some traders without physical supplies may need to close out short positions, supporting prices.
The recent rally &ndash which threatens to add to costs for manufacturers of everything from fizzy drinks to baked goods and maintain pressure on global food inflation &ndash has also pushed futures markets into overbought territory.
China is among countries to lower the supply outlook, with the government this week slightly reducing its production estimate for 2022-23 to 9 million tons. Cuts for key growers means the season will end with a world shortage, according to Wilmar&rsquo s head of analysis, Karim Salamon.
&ldquo Next year&rsquo s crop will probably not be better,&rdquo he said. &ldquo The cane and beet acreage is likely to fall in most areas due to the effects of crop competition.&rdquo
For example, some Thai farmers are likely to plant more cassava, while French plantings will drop due to concerns over a crop virus following a ban on neonicotinoid pesticides, Salamon said.
One of the key drivers of the rally has been expectation that India won&rsquo t allow additional exports in the season that ends in September. With lackluster supplies from Europe and nations including Pakistan and Thailand, that has left traders looking to a bumper crop in top exporter Brazil to ease the global tightness.
Still, Brazil&rsquo s stockpiles are very low and a late start to harvesting due to heavy rain has limited sugar production, Salamon said. Even if mills there can speed up cane crushing, transporting sugar to ports and shipping &ldquo will be a very tricky issue,&rdquo he said.
Raw sugar was up 0.6 per cent at 23.82 cents a pound in New York, and has advanced 19 per cent this year. Its gains have pushed the 14-day relative-strength index above 70, a signal to some that the market may have risen too fast. White sugar was little changed near the highest since 2011 in London.
May white-sugar futures expire at the end of this week, and the number of contracts to be closed &ndash known as the open interest &ndash points to a delivery of more than 500,000 tons.
In other soft commodities, arabica coffee fell 0.4 per cent and cocoa steadied in New York. BLOOMBERG
Wilmar another beneficiary as well..https://www.wilmar-international.com/our-businesses/feed-and-industrial-products/sugar
Sugar extends surge as refined contract hits highest since 2011
SAO PAULO &ndash Sugar extended its surge in New York and London on mounting worries about tight supplies.
White sugar futures rose 2.7 per cent in London to settle at its highest price since November 2011. That elevated the white premium, the price difference between refined and raw sugar, which touched record highs in Tuesday trading before trimming gains.
Raw sugar settled 2.6 per cent higher in New York, its highest since October 2016.
A lack of deliverable sugar ahead of Friday&rsquo s expiry of the white sugar contract for May is driving prices higher.
The number of contracts to be closed, known as open interest, points to a &ldquo massive&rdquo delivery above 880,000 tonnes, said Mr John Stansfield, a senior sugar analyst at DNEXT Intelligence, adding that those with short positions &ldquo don&rsquo t have the physical sugar to tender&rdquo .
Prices of the sweetener have jumped on prospects for limited exports out of key shipper India and lackluster supplies from Thailand, Europe, China and Mexico.
India is one of the largest exporters of white sugar, but shipments are controlled by quotas that are almost exhausted, with no real expectation of an increase, said Mr Soren Jensen, a long-time market observer.
India&rsquo s refining industry might soon have to shift from domestically produced raw sugar to imports &ndash most likely from Brazil.
The South American country just started its harvest, but transportation bottlenecks are an issue, with sugar competing against a record soya bean crop for space on railways and at ports.
&ldquo There is growing concern that Brazil might not export as much as expected in the beginning of the season, however the market really needs the Brazilian sugar,&rdquo Mr Jensen said. BLOOMBERG
Looks like today will hover between $4.14 to $4.18. If able to clear $4.22, it will cheong liao....
Strong Support and Resistance today at $4.15.
Looks like some shortists trying their luck at $4.17. Lolx.
Looks like some shortists trying their luck at $4.17. Lolx.
Could be facts from this chart: https://tradingeconomics.com/commodity/palm-oil .
FATABA ( Date: 06-Apr-2023 12:40) Posted:
|
Correct, I only mentioned the one already announced and coming up.
Historical data: https://www.dividends.sg/view/F34 .
Historical data: https://www.dividends.sg/view/F34 .
hokpin ( Date: 06-Apr-2023 12:39) Posted:
|
could possibly be.....
FATABA ( Date: 06-Apr-2023 12:40) Posted:
|
Number of shares, units, rights, options, warrants, participatory interests and/or principal amount/value of debentures or contracts acquired or disposed of by Director/CEO: 310,000 shares
6. Amount of consideration paid or received by Director/CEO (excluding brokerage and stamp duties): S$1,317,500
Hmm he sold off at 4.25 is there something he Definately know and we dont ??
No wonder it drop today .
6. Amount of consideration paid or received by Director/CEO (excluding brokerage and stamp duties): S$1,317,500
Hmm he sold off at 4.25 is there something he Definately know and we dont ??
No wonder it drop today .
tongphlp ( Date: 06-Apr-2023 10:24) Posted:
|
2 times dividend per year. One in May and another one in Aug. Dividend yield defintely more than what you mentioned.
Ftyeng ( Date: 06-Apr-2023 11:15) Posted:
|
Some facts to consider before buying and selling
-----------------------------------------------------------------
Dividend sum: $0.11/share ( if price is $4.20, it is 2.60% )
ex-date : 27 Apr 2023
Payout-date : 12 May 2023
Net-Profit in FY2022 : S$3.313 billion
Target Price determined by some analysts : > =$5.00
-----------------------------------------------------------------
Dividend sum: $0.11/share ( if price is $4.20, it is 2.60% )
ex-date : 27 Apr 2023
Payout-date : 12 May 2023
Net-Profit in FY2022 : S$3.313 billion
Target Price determined by some analysts : > =$5.00
Kishore off loaded his shares...
pasttime ( Date: 06-Apr-2023 08:45) Posted:
|
Now correction is good for accumulation.
New Support level at $4.1.
Next support level $4.3. If can hold firmly above $4.3 next week, it' s heading for $5.
New Support level at $4.1.
Next support level $4.3. If can hold firmly above $4.3 next week, it' s heading for $5.
TradeExpert ( Date: 05-Apr-2023 10:40) Posted:
|
$5? really?. i like
Today' s correction is good time for accumulation. Quickly grab
Towards $5.
Towards $5.
scoop from who if no one' s selling
tedlim ( Date: 21-Mar-2023 07:40) Posted:
|
Today, UNcle Kuok will scope up more cheap shares again?