KLSE: SOP (5126)       SARAWAK OIL PALMS BHD MAIN : Plantations
Last Price Today's Change   Day's Range   Trading Volume
4.01   +0.05 (1.26%)  3.96 - 4.12  516,500
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Market Cap: 2,290 Million
NOSH: 571 Million
Avg Volume (4 weeks):333,505
4 Weeks Range:3.44 - 4.23
4 Weeks Price Volatility (%):
52 Weeks Range:1.90 - 4.23
52 Weeks Price Volatility (%):
Average Price Target: 4.30
Price Target Upside/Downside: +0.29

Financial Highlight

Latest Quarter | Ann. Date 30-Sep-2020 [#3]  |  26-Nov-2020
Next QR | Est. Ann. Date: 31-Dec-2020  |  28-Feb-2021
T4Q P/E | EY: 9.86  |  10.14%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: 4.13  |  0.97
T4Q NP Margin | ROE: 8.67%  |  9.85%


Date Subject
11-Sep-2020 MPOB Monthly Statistics August 2020 - August Production Increased 3.1% to 1.86m tonnes
27-Aug-2020 Sarawak Oil Palms - Benefiting From Higher ASP of Palm Products
14-Aug-2020 Daily technical highlights – (SOP, JHM)
14-Aug-2020 Stocks on Radar - Sarawak Oil Palms (5126)
21-Jul-2020 Plantation - Swarmageddon: Rise of “The Black Swarm”
20-Jul-2020 Plantation - News flow for week 13 – 17 July
17-Jul-2020 Stocks on Radar- Sarawak Oil Palms (5126)
17-Jul-2020 热门股:砂拉越油棕 上挑RM3.48
06-Jul-2020 Plantation - News flow for week 29 June – 3 July
29-Jun-2020 Plantation - News flow for week 22 – 26 June
22-Jun-2020 Daily Market Update - 22 Jun 2020
27-May-2020 Sarawak Oil Palms - Challenging quarter ahead
27-May-2020 Mplus Market Pulse - 27 May 2020
18-May-2020 Plantation - News flow for week 11 – 15 May
15-May-2020 Plantation - Key Takeaways from Golden Agri’s Conference Call
13-May-2020 Plantation - Key takeaways from Bumitama’s conference call
08-May-2020 M+ Online Technical Focus - 8 May 2020
08-May-2020 Daily Market Update - 8 May 2020 (JOHOTIN, SOP)
04-May-2020 Plantation - News flow for week 27 Apr – 1 May
27-Apr-2020 Plantation - News flow for week 20 – 24 Apr

Business Background

Sarawak Oil Palms Bhd is a Malaysia based company engaged in the principal activities of investment holding, cultivation of oil palms, and operations of palm oil mills. The primary businesses of the company are oil palm plantation, milling, refining of oil palm products and trading of oil palm products. The operating segments of the group are Oil palm and Property development. Oil palm segment contributes majorly to the group’s revenue. Geographical the company operates in Malaysia and Singapore, of which key revenue is derived from Malaysia.
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  5 people like this.
Investorrr I think this share min annualised EPS is rm0.38.which would translate to a share of about rm7 based on 18xPE
20/11/2020 10:16 AM
Investorrr 2019 annualised EPS Is rm0.15 and the highest price about tm2.5 based on 16xPE
20/11/2020 10:20 AM
Gabriel Khoo Forward EPS 60C
20/11/2020 11:50 AM
kinuxian Bloomberg est around 25 f.eps for 2020-2012.

Anywhere, next week shall be interesting. There were good rally post QR on 3Q19, 1Q20, 2Q20, but a plunge on 4Q19 which partly due to start of covid19.
20/11/2020 4:32 PM
johoran Liquidity problem
20/11/2020 9:10 PM
chshzhd cpo price rise rise rise .. but oil palm shares "dare not" to wake up:)
.. the volcano is going to explode :) 火山要爆发了:) gunung berapi akan meletup:)
20/11/2020 11:42 PM
Jonathan Keung Punters are more keen in penny stocks { pump and dump } whereas plantation are deem for longer term hold strategy. IBs and fund houses are investing for long term whereas retail players are gunning for quick action.
21/11/2020 7:37 AM
enning22 CBOT大豆继续上涨,出口需求旺盛 2020-11-21   周五,芝加哥期货交易所(CBOT)大豆期货市场收盘上涨,创下四年来的新高,因为出口需求旺盛,南美天气担忧。 截至收盘,大豆期货上涨2.25美分到6.50美分不等,其中1月期约收高3.50美分,报收1181美分/蒲式耳;3月期约收高5.75美分,报收1181.25美分/蒲式耳;5月期约收高6.50美分,报收1179.50美分/蒲式耳。 成交最活跃的1月期约交易区间在1176.75美分到1196.75美分。 大豆市场连续第六个交易日上涨,创下四年来的最高水平,因为南美大豆产区天气持续干燥,美国供应下滑令人担忧。 不过多头获利平仓抛售,使得豆价从高点回落。从周线图上来看,大豆市场连续第三周收涨。 荷兰合作银行的分析师称,今年市场很担忧供应。巴西大豆作物已经进入对降水高需求的时期,而美国所剩余的大豆出口供应也不多。 虽然过去一周巴西和阿根廷部分地区出现了急需的降雨,但是许多大豆产区依然干燥,这些地区需要更多的降雨来结束干旱。 阿根廷布宜诺斯艾利斯谷物交易所称,过去一周阿根廷大豆播种步伐快速推进,因为干旱的地区出现了降雨。不过全国大部分地区依然干燥。 一位分析师称,南美气象预报显示阿根廷大部分地区依然干燥,温度高于正常,这非常令人担忧。 南美天气干燥,使得最终用户集中精力采购美国大豆,不过美国大豆供应同样趋紧,市场正在调配需求。
22/11/2020 5:29 PM
Plantermen SBO price premium above CPO betw USD 175 - 180 per tonne. Countries like lndia, Pakistan, China and other consumer looking at CPO as the cheaper alternatives
23/11/2020 9:45 AM
ching9 qr ended Sep2020 targeted min PAT RM53m++
23/11/2020 9:41 PM
selesa2020 RM53mil*2
24/11/2020 7:45 PM
LuckyG should be around 72mil ..... my guess
24/11/2020 10:12 PM
kinuxian If you derive top 20 market cap in plantation stock (excluding those negative PE), average PE around 17 while SOP is 11.79 according KLSE screener figures. ROE are among top 5.

Many ppl are expecting Q3 and Q4 improve on Y2Y basis. Thus, SOP is getting more appealing among plantation sectors and probably touch double digit ROE too.
25/11/2020 10:46 AM
Anonymous9898 it seems like not much people know about this good company
25/11/2020 4:30 PM
Gabriel Khoo Not liquid...if share bonus. Sure attract investors
25/11/2020 5:14 PM
LuckyG free warrant also good enough :))
26/11/2020 8:34 AM
ChrisMz This is a very good company.. excellent in manage estates and its refinery is doing quite well too..
The only thing is that the dividend yield not so attractive
26/11/2020 5:19 PM
26/11/2020 5:21 PM
Dakewlest Stock ini boleh simpan lama.
26/11/2020 5:31 PM
johoran Q3
Profit 70m
EPS 12.93
26/11/2020 5:32 PM
Anonymous9898 if people notice this gem, the price will not be like this only
26/11/2020 7:53 PM
LuckyG Depend on fund and operator when they want to goreng. For sure come, when only. Till now I only buy never sell 1 sop shares
26/11/2020 9:11 PM
chshzhd good
27/11/2020 1:24 AM
Dakewlest LuckyG, at what price u bought this share?
27/11/2020 1:29 AM
8888_ QR good but why no extra dividend like Sarawak Plantation?
27/11/2020 8:02 AM
Gabriel Khoo this is a growth fully integrated plantation company cash reserve for capex. whereas sarawak plantation is a pure upstream small plantation company
27/11/2020 8:08 AM
kinuxian 200+ mil full year profit is finger away and double digit ROE is highly possible for FY20.

SOP become lowest PE 9.73 among their peers and top 5 on ROE.

Wander what's MBB research house will say in their latest update.
27/11/2020 8:56 AM
Gabriel Khoo FY20E: Poised to deliver one of its highest PATMI in history

The above expected 3Q20 core PATMI was driven by high CPO ASP, decent downstream contribution, and lower-than-expected unit cost. While 4Q20 PATMI are likely to be lower QoQ on weaker output, and higher cost and taxes, SOP will nonetheless end the year posting one of the highest PATMI in its history. Following our EPS upgrades, we raise our TP to MYR5.36 on 15x 2021 PER peg, its updated historical 5Y mean. Trading at just 11x FY21 PER and adj. EV/ planted ha of MYR23,000, SOP remains a BUY.
27/11/2020 9:09 AM
Gabriel Khoo Our call. Maintain TP of RM4.30 (based on P/BV of 1.0x and SOP’s FY21
BV/share) with revised earnings forecast for FY20/FY21 to RM222m and
RM292m respectively from RM154m and RM193m previously, as we
adjusted lower our costs of sales and tweaked our FFB processed and
CPO production number lower with higher ASP of palm product
anticipated. SOP’s share price has risen by 104% since its lowest in
March and we now see the stock reaching closer to our valuation with
an upside of 8.6% from current price. Hence, we changed our
recommendation from BUY to HOLD. Accumulate on weakness.
27/11/2020 9:54 AM
Gabriel Khoo BIMB's very contradict with their earnings upgrade.
27/11/2020 9:55 AM
Anonymous9898 So sad... Good profit also no use. Fcpo keeps dropping. Many people just buy according to fcpo
27/11/2020 10:00 AM
enning22 https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3108372
27/11/2020 10:01 AM
kinuxian BIMB, maintaining the same TP with following facts?? LOL

- First 3 quarters had bag in 183mil and exceed their original full year FY20 earning forecast 154m.
- Increased FY21 profit forecast by 50% .

Let see if more research house will cover them as financial ratio stood out from their peer.

Anywhere, Q4 revenue usually strongest of a year, the expectation of weaker output fall perhaps within 10-20% range but CPO price shall fill the gap as it had strengthen around 20% so far. A conservative figure like minimum 50mil for Q4 are archivable easily.

Short term trader that expecting some fast money right after good QR might be disappointed.
27/11/2020 10:40 AM
Anonymous9898 back to 3.96....
27/11/2020 10:53 AM
bclassinvest Hi Gabriel, can I know the source of this research?

FY20E: Poised to deliver one of its highest PATMI in history

The above expected 3Q20 core PATMI was driven by high CPO ASP, decent downstream contribution, and lower-than-expected unit cost. While 4Q20 PATMI are likely to be lower QoQ on weaker output, and higher cost and taxes, SOP will nonetheless end the year posting one of the highest PATMI in its history. Following our EPS upgrades, we raise our TP to MYR5.36 on 15x 2021 PER peg, its updated historical 5Y mean. Trading at just 11x FY21 PER and adj. EV/ planted ha of MYR23,000, SOP remains a BUY.
27/11/2020 11:24 AM
27/11/2020 11:27 AM
gemfinder Y so dificult to go up?
27/11/2020 1:16 PM
Plantermen Past few days CPO under pressure
27/11/2020 1:30 PM
kinuxian https://www.spglobal.com/platts/en/market-insights/latest-news/agriculture/112620-india-cuts-import-duty-on-crude-palm-oil-by-10
27/11/2020 2:24 PM
TigerWoods Untung 76m but no dividend.. why so kedekut??
27/11/2020 4:53 PM
LuckyG later maybe something special mah . hope i am right
27/11/2020 4:54 PM
Anonymous9898 today fcpo rebound....hopefully monday got show
27/11/2020 6:03 PM
Plantermen India cuts its CPO import duty by 10% to 27.5% effective from today {27.11}this will increase the palm uptake by app 100,000 tonnes per month. SBO premium over CPO is between USD 230 - 240 per tonne
27/11/2020 6:33 PM
johoran hopefully bonus issue
27/11/2020 6:54 PM
Dakewlest Imagine Bonus issue and special dividend...
27/11/2020 7:18 PM
LuckyG bonus plus warrant is the best.
27/11/2020 8:45 PM
skyea india horeca havent recover yet only. next year when horeca back online, palm will go from farm straight into transport vessels...
27/11/2020 9:10 PM
Gabriel Khoo https://www.feednavigator.com/Article/2020/11/24/La-Nina-and-global-stockpiling-could-cause-agri-commodity-prices-to-increase-in-2021
27/11/2020 11:22 PM
Jonathan Keung Rabobank projected hot agri commodities price trending next year
28/11/2020 9:14 AM
bluered by next year or next-next year should be the highest price for SOP.
28/11/2020 9:21 AM

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