Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 20.04 |
Showing posts with label KLK. Show all posts
Showing posts with label KLK. Show all posts
November 20, 2014
4Q14 – Downstream Slip into the Red
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: TA | Price Call: SELL | Target Price: 19.27 |
4QFY14: Weigh down by downstream division
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: JF APEX | Price Call: HOLD | Target Price: 22.00 |
May 22, 2014
KLK - Better Prices Lift Earnings
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: TA | Price Call: HOLD | Target Price: 26.33 |
KLK - Commendable growth but valuation is rich
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 26.55 |
February 20, 2014
KLK - 1QFY14: Earnings on recovery track
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: JF APEX | Price Call: HOLD | Target Price: 23.36 |
KLK - 1Q14 Results Within Expectations
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: TA | Price Call: HOLD | Target Price: 26.30 |
KLK - A fairly good start to FY2014
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 21.40 |
November 21, 2013
FY13: Within expectations
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: JF APEX | Price Call: HOLD | Target Price: 23.36 |
November 14, 2013
KLK - Investing in Africa
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: ALLIANCE | Price Call: HOLD | Target Price: 20.20 |
November 8, 2013
KLK - Maiden Foray into Africa
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: JF APEX | Price Call: HOLD | Target Price: 21.57 |
August 21, 2013
KLK - Earnings impacted by lower CPO prices
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 21.40 |
February 28, 2013
1QFY13: Within expectations
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: ALLIANCE | Price Call: HOLD | Target Price: 18.96 |
February 21, 2013
Earnings down on subdued commodity prices
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 23.07 |
January 18, 2013
Affin raises KL Kepong target price
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Affin Investment Bank raised the target price of Malaysia's third biggest oil palm planter KL Kepong Bhd (KLK) to RM19.62 per share from RM18.64 as productivity improves in the firm's Indonesian estates.
KLK is likely to post above average growth for fresh fruit bunch (FFB) output as more estates in Indonesia reach maturity and new acquisitions raise the firm's landbank close to 300,000 hectares, Affin said in a note.
Higher yields from KLK's estates are likely to lower production costs to RM1,290 per tonne this year from RM1,303 last year, the investment bank said.
Affin kept a "reduce" call on the stock as the price outlook is not so bright for crude palm oil extracted from the FBB on account of high stocks of the edible oil in Southeast Asia and sluggish demand.
KLK shares were up 0.4 per cent at RM21.94 as of 9.42 am (0142 GMT). -- Reuters
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: AFFIN | Price Call: SELL | Target Price: 19.62 |
Affin Investment Bank raised the target price of Malaysia's third biggest oil palm planter KL Kepong Bhd (KLK) to RM19.62 per share from RM18.64 as productivity improves in the firm's Indonesian estates.
KLK is likely to post above average growth for fresh fruit bunch (FFB) output as more estates in Indonesia reach maturity and new acquisitions raise the firm's landbank close to 300,000 hectares, Affin said in a note.
Higher yields from KLK's estates are likely to lower production costs to RM1,290 per tonne this year from RM1,303 last year, the investment bank said.
Affin kept a "reduce" call on the stock as the price outlook is not so bright for crude palm oil extracted from the FBB on account of high stocks of the edible oil in Southeast Asia and sluggish demand.
KLK shares were up 0.4 per cent at RM21.94 as of 9.42 am (0142 GMT). -- Reuters
January 14, 2013
A Blended Affair
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: TA | Price Call: SELL | Target Price: 16.63 |
October 5, 2012
Acquisition to support long-term growth
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: MIDF | Price Call: TRADING BUY | Target Price: 24.52 |
October 3, 2012
HL lower KL Kepong's fair value to RM23.39
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
KUALA LUMPUR: Hong Leong Investment Bank Research has lowered its target price for plantation firm Kuala Lumpur Kepong Bhd to 23.39 ringgit from 23.60 ringgit to reflect lower forecasts for the company's earnings.
Hong Leong lowered net profit forecasts for the next two years by up to 3.5 per cent to reflect lower assumptions of fresh fruit branches (FFB) output, and the fact that contributions from two new refineries and an oleochemical plant are expected to come onstream only next year. KLK's existing refineries were affected by the revision of export tariffs in Indonesia and the weak global economic outlook, Hong Leong added.
"In our view, the weak performance of KLK's refinery operations will likely improve when its two new refineries in Indonesia commence operations. KLK would benefit from the tax advantage in Indonesia, given that its land bank there contributes over 40 percent of total FFB production," it added.
The brokerage maintained its 'hold' rating on the stock.
Shares of KLK dipped 1.54 per cent to RM21.7 after Malaysian palm oil futures fell to a three-year low on Tuesday. - Reuters
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: HLG | Price Call: HOLD | Target Price: 23.39 |
KUALA LUMPUR: Hong Leong Investment Bank Research has lowered its target price for plantation firm Kuala Lumpur Kepong Bhd to 23.39 ringgit from 23.60 ringgit to reflect lower forecasts for the company's earnings.
Hong Leong lowered net profit forecasts for the next two years by up to 3.5 per cent to reflect lower assumptions of fresh fruit branches (FFB) output, and the fact that contributions from two new refineries and an oleochemical plant are expected to come onstream only next year. KLK's existing refineries were affected by the revision of export tariffs in Indonesia and the weak global economic outlook, Hong Leong added.
"In our view, the weak performance of KLK's refinery operations will likely improve when its two new refineries in Indonesia commence operations. KLK would benefit from the tax advantage in Indonesia, given that its land bank there contributes over 40 percent of total FFB production," it added.
The brokerage maintained its 'hold' rating on the stock.
Shares of KLK dipped 1.54 per cent to RM21.7 after Malaysian palm oil futures fell to a three-year low on Tuesday. - Reuters
August 24, 2012
RHB raises Kuala Lumpur Kepong's fair value
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
KUALA LUMPUR: RHB Research raised its fair value of Kuala Lumpur Kepong Bhd to RM22.40 per share from RM20.80, citing better outlook for the plantation firm's refinery operations and its expansion plans in Indonesia.
"We were surprised to learn that KLK is setting up not one, but three refineries and one oleochemical facility in Indonesia," RHB said in a note on Friday.
Though RHB cut its earnings forecast by 2 per cent for the financial year 2012 to reflect flat fresh fruit bunches (FFB) production from KLK's Malaysian estates, it raised 2013 and 2014 growth forecasts by 3.4 per cent and 9.7 per cent, respectively.
The research house kept its 'underperform' rating on the stocks, saying "valuations remain rich in light of falling earnings growth momentum."
As of 0300 GMT, KLK shares remained unchanged at RM23.52 per share while the Malaysian benchmark stock index fell 0.07 per cent. -- Reuters
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: RHB | Price Call: BUY | Target Price: 22.40 |
KUALA LUMPUR: RHB Research raised its fair value of Kuala Lumpur Kepong Bhd to RM22.40 per share from RM20.80, citing better outlook for the plantation firm's refinery operations and its expansion plans in Indonesia.
"We were surprised to learn that KLK is setting up not one, but three refineries and one oleochemical facility in Indonesia," RHB said in a note on Friday.
Though RHB cut its earnings forecast by 2 per cent for the financial year 2012 to reflect flat fresh fruit bunches (FFB) production from KLK's Malaysian estates, it raised 2013 and 2014 growth forecasts by 3.4 per cent and 9.7 per cent, respectively.
The research house kept its 'underperform' rating on the stocks, saying "valuations remain rich in light of falling earnings growth momentum."
As of 0300 GMT, KLK shares remained unchanged at RM23.52 per share while the Malaysian benchmark stock index fell 0.07 per cent. -- Reuters
April 13, 2012
Plantation - OVERWEIGHT - Tree stress effect may have just starte
Stock Name: SIME
Company Name: SIME DARBY BHD
Stock Name: IJMPLNT
Company Name: IJM PLANTATIONS BHD
Stock Name: TAANN
Company Name: TA ANN HOLDINGS BHD
Stock Name: UMCCA
Company Name: UNITED MALACCA BHD
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
Stock Name: IOICORP
Company Name: IOI CORPORATION BHD
Stock Name: GENP
Company Name: GENTING PLANTATIONS BERHAD
Company Name: SIME DARBY BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 11.60 |
Stock Name: IJMPLNT
Company Name: IJM PLANTATIONS BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 4.25 |
Stock Name: TAANN
Company Name: TA ANN HOLDINGS BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 7.75 |
Stock Name: UMCCA
Company Name: UNITED MALACCA BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 8.00 |
Stock Name: KLK
Company Name: KUALA LUMPUR KEPONG BHD
| Research House: KENANGA | Price Call: HOLD | Target Price: 23.60 |
Stock Name: IOICORP
Company Name: IOI CORPORATION BHD
| Research House: KENANGA | Price Call: HOLD | Target Price: 5.60 |
Stock Name: GENP
Company Name: GENTING PLANTATIONS BERHAD
| Research House: KENANGA | Price Call: HOLD | Target Price: 9.90 |
Malaysia's CPO inventory level for Mar-12 was reported at1.96m mt or 2% lower than the consensus estimate of 2.00m mt. It was also 6%below our estimate of 2.08m mt. The key surprise was the better-than-expectedexports growth of 11% MoM to 1.34m mt (5% above the consensus and ourexpectation of 1.28m mt). Judging from the CPO production severe YoY decline of14% to 1.21m mt in Mar-12, we believe that oil palm trees may have just enteredtheir tree stress period. Typically, CPO production will be flat or declineduring its tree stress period. Among the key CPO consumers, the highest exportgrowth was noticed in Pakistan (+125% MoM to 78k mt), Europe (+63% MoM to 174kmt) and India (+11% MoM to 120k mt). The latest USDA WASDE report was bullishto CPO prices as it reaffirmed the global soybean oil shortage for the 2011/12season. The global soybean oil inventory was cut by 0.17m mt or 6.2% from itsprevious forecast to only 2.56m mt. All the bullish fundamental factors mentioned continue to support ourOVERWEIGHT call on the plantation sector. We maintain our CY12 average CPO priceof RM3,200 per mt but may increase it further if soybean oil production continuesto deteriorate in South America. We have OUTPERFORM calls on SIME (TP: RM11.60) and IJM Plantation (TP: RM4.25) on valuation grounds.To leverage on their double digit FFB growth, we also have OUTPERFORM calls on Ta Ann (RM7.75) and UnitedMalacca (TP: RM8.00). Meanwhile, we maintain MARKET PERFORM calls on KLK (TP:RM23.60), IOI (TP: RM5.60) and GENP (TP: RM9.90).
Mar-12 stocks levelbelow expectation. The CPO inventory level of 1.96m mt was 2% lowerthan the consensus estimate of 2.00m mt. It is also 6% below our estimate of 2.08m mt. The key surprise was thebetter-than-expected exports growth of 11% MoM to 1.34m mt (5% above theconsensus and our expectation of 1.28m mt). As the exports growth of 11% MoMsurpassed the production increase of 2% MoM, the stocks-to-usage ratio declined to 11.3% in Mar-12 (from 13.5%in Feb-12). On the overall, the meaningful drop in the stocks level to below2.00 mt is positive for CPO prices.
Tree stress effecthas just started. CPO production slumped 14% YoY to 1.21m mt in Mar-12. The decline was more severe than market expectations of a 7% to 9% drop and our expectation of a 2% drop. As highlightedearlier in our sector update report on27 Mar, we believe that the tree stress effect on oil palm trees has started.Hence, the CPO production upcycle, which has lasted for 12 months (from Mar-11to Feb-12) should have ended. In Apr-12, CPO production is likely to register aYoY production decline of about 4% to about 1.47m mt. However, our estimate mayappear too optimistic at the current juncture as the severity of tree stresseffect is still unclear. CPO prices are nonetheless likely to appreciatefurther as CPO production will be limited as tree stress effects usually lastfor 2 years.
Strong CPO exports inMar-12 likely to continue. Exports surged by 11% MoM or 132k mt in Mar-12to 1.34m mt. Among the key CPO consumers, the highest growth was seen in Pakistan(+125% MoM to 78k mt), Europe (+63% MoM to 174k mt) and India (+11% MoM to 120kmt). The strengthening CPO exports to Pakistan were probably caused by a normalisationprocess as the Feb-12 number was extremely low (due to transporters' strike in thecountry causing closure of the factories). The strong CPO export trend islikely to continue in April, judging from the cargo surveyor's estimate of an 8% CPO export growth to 479k mt in the first 10 days ofApril. The resilient CPO demand should support CPO prices in 2Q12.
USDA WASDE reportbullish for CPO prices. In thelatest World Agriculture Supply and Demand Estimates report released on 10 Apr,USDA has reduced its 2011/12 season global soybean oil inventory by 0.17m mt or6.2% from its previous forecast to only 2.56m mt. As a result, the 2011/12season global soybean oil stock-to-usage ratio declined by 41pp to 6.08% fromlast month's estimate of 6.49%. Soybean oil production from South America has meanwhilebeen severely affected by bad weathers. Argentina soybean oil productionforecast has been reduced by 0.13m mt or 1.7% to 7.30m mt while Brazil soybeanoil production has been cut by 0.11m mt or 1.6% to 6.81m mt. CPO prices will benefit from this as it is usually used as a substitutefor soybean oil.
Source: Kenanga
Source: Kenanga
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