【Wilmar F34 交流专区】丰益国际 WILMAR INTERNATIONAL LIMITED

No.AMD

没有买的讯号，还是先观望一下！

fbb05

我快没耐性了
一直在那个价位起起跌跌。。

icy97

Wilmar Fortune Gas stake sale return 'decent': Phillip
http://www.theedgesingapore.com/the-daily-edge/business/42044-wilmar-fortune-gas-stake-sale-return-decent-phillip.html

Wed, 19 Dec 13:18  
Wilmar’s (F34.SG) sale of its 15% Fortune Gas Investment stake for US$60 million ($73.2 million) was at a decent return, Phillip Securities says, noting the shares were purchased at US$36 million in 2008.

It estimates a realised gain of US$24 million, equating to a 13.6% per annum return. It estimates the deal was valued at 22x profit before tax, which it views as decent. But it adds, the financial impact on Wilmar is not substantial at less than 3% of the house’s FY12 earnings estimate; it isn’t adjusting its forecasts. It keeps an accumulate call with $3.47 target.

“Albeit CPO prices and China crushing margins may still remain weak in the near-term, we are positive on the company’s long-term outlook. In fact, we are starting to see quarterly recovery from the recent 3Q12 results, and we expect sequential improvement with a stronger 2H12 driving recovery in both earnings and share price.” The stock is up 1.6% at $3.19.

丰益国际以4亿美元脱售在富地燃气的股权
http://www.sharesinv.com/zh/articles/36280/

2012年12月19日
棕油生产商丰益国际(Wilmar Int’l)签署了有条件协议，以4亿美元(4亿8,800万元)把其在富地燃气投资控股(Fortune Gas Investment Holdings)的所有15%股权脱售予中国天然气投资有限公司。富地燃气投资控股是富地石油公司(Fortune Oil)的天然气业务；而中国天然气投资有限公司是在香港交易所主板挂牌的天然气服务公司，其市值约为36亿美元。丰益国际在截至9月30日的第三季度强力转亏回盈，盈利激增26.4%至4亿零580万美元，并主要归功于压榨毛利向好。

启示：然而，华侨银行(OCBC)不看好商品业在2013年的前景，并给予‘减码’建议。华侨银行补充道，鉴于最近奥兰国际(Olam Int’l)与浑水(Muddy Waters)之间的纷争，投资者可能不太青睐商品股，尤其是那些业务模式复杂的商品公司。

homacin

今天已经3.28了,一天起了1毛。

icy97

Wilmar +2.8%; Taps 3-month high in strong volume
http://www.theedgesingapore.com/the-daily-edge/business/42088-wilmar-28-taps-3-month-high-in-strong-volume.html

Thu, 20 Dec 15:30  
Wilmar (F34.SG) is the best-performing STI component, rising 2.8% to $3.27, tapping its highest level since mid-September and outperforming the STI’s 0.3% gain, leaving a clutch of analysts puzzled.

The recent news “isn’t enough to move the needle,” one analyst says. Volume is strong, accounting for 2.4% of shares changing hands on the SGX after a series of large block trades, including one for 4.27 million shares at $3.179.

Credit Suisse tips Wilmar as among the top candidates for a reversal as part of its window-dressing portfolio. It notes mutual funds tend to clean up portfolios by selling their worst-performers before fiscal-year end.

“After the year-end, this selling pressure subsides, and the beaten-down stocks are likely to rebound,” it says in a note. “Investors looking to profit from this effect can acquire the beaten-down stocks in December and hold them through January of the next year, when the year-end selling pressure should have abated.”

Wilmar remains down around 34% year-to-date. CS’ other two Singapore window-dressing picks are Noble (N21.SG) and Yangzijiang (BS6.SG). Noble is down 0.4% at $1.18; YZJ is up 1.6% at $0.96.

fbb05

最近这个股升了一点点
希望能突破$3.40

yen+hock

终于突破$3.50了...继续吧..

fbb05

yen+hock 发表于 2-1-2013 11:35 PM
终于突破$3.50了...继续吧..

想不到这股突然突破了$3.50看来可以冲更高

icy97

Wilmar stock slump may extend on trading concern: Southeast Asia
http://www.theedgesingapore.com/the-daily-edge/business/42163-wilmar-stock-slump-may-extend-on-trading-concern-southeast-asia.html

Mon, 7 Jan 11:04   
Wilmar International, the worst performing stock on Singapore’s Straits Times Index in 2012, may extend its slide this year as investors favor agricultural companies that rely less on trading.

Wilmar, the world’s largest palm oil processor, lost 33% last year, its third annual drop in a row, as profit missed analysts’ estimates in three of the four quarterly reports issued during the year. The company’s stock may fall 6.4%, based on the average of 21 analysts’ 12-month target prices compiled by Bloomberg.

The company slumped as commodities including palm oil and sugar declined last year. The questioning of Olam International Ltd.’s accounts by short-seller Carson Block’s Muddy Waters LLC made some wary of buying into agricultural companies, even as a growing global population fuels demand for food. Some investors and analysts also highlight that producers engaging in trading activities potentially carry more risk.

“The concept of agriculture and food resources is absolutely a valid concept,” said Hugh Young, who helps manage about $70 billion of Asian equities at Aberdeen Asset Management Asia in Singapore and doesn’t hold Wilmar or Olam. “Some are trading companies with which we feel naturally a little uncomfortable because the trades can go both ways.”

Wilmar’s slide compares with a 20% gain for Singapore’s benchmark index in 2012. Olam, which was targeted by Block in November, lost 27% last year, its second straight yearly loss and the second-worst performance on Singapore’s main index. Wilmar and Olam, both based in Singapore, declined to comment on their share price performance.

EARNINGS SLUMP
Wilmar gained 0.6% to $3.61 as of 10:02 a.m. in Singapore today, compared with a 0.3% increase in the Straits Times index.

Analysts have a 12-month price target of $3.38 on average. Seven analysts recommend selling Wilmar stock, nine advise buying it and 11 rate it hold.

Profit at Wilmar may have shrunk 31% to US$1.1 billion ($1.35 billion) in the year ended Dec. 31, the lowest since 2007, according to 21 analyst estimates compiled by Bloomberg. The company may post net income of US$1.35 billion this year, still 16% lower than 2011, according to the average of 21 analyst estimates compiled by Bloomberg.

Analysts such as DBS Group Holdings Ltd.’s Ben Santoso still expect a weak contribution from Wilmar’s oilseeds unit this year, which processes soybeans into meal and oil, after it posted losses in the first half of 2012. The loss was partly blamed on bad timing of bean purchases.

Margins on processing soybeans, known as crushing, will probably “return back to positive territory but it’s not going to be a major driver,” Santoso said by phone from Singapore. Overcapacity in the industry will continue to affect the unit’s profitability, he said.

MUDDY WATERS
Olam, the world’s second-largest rice trader, may struggle to shed concerns about its accounts and strategy raised by Block and his research firm Muddy Waters. He first questioned Olam’s accounting methods at a London conference on Nov. 19, and later said the company may collapse in a 133-page research report rating it a strong sell.

Olam rejected the claims and sued Block and Muddy Waters in Singapore on Nov. 21. The commodity trader said last week it’s in the best financial health since its 2005 initial public offering and is “comfortable” with its debt.

“Besides the still gloomy economic outlook, investors’ appetite toward commodities-related players -- especially those with complex business models -- is also likely to remain lukewarm in the wake of the recent saga involving Olam and Muddy Waters,” Carey Wong, a senior analyst at OCBC Investment Research Pte., said in a Dec. 12 report.

TEMASEK BACKING
Wong rates the commodities sector “underweight” and expects Olam to fall to $1.44, lower than the $1.68 closing price on Jan. 4. Still, the average 12-month target price of 16 analysts’ estimates compiled by Bloomberg is $1.83. The stock lost 2.1% to $1.645 in Singapore trading as at 10:04 a.m. local time.

Olam, which counts Singapore state investment company Temasek Holdings as its second-largest shareholder, has 11 buy ratings, six holds and four sells, according to data compiled by Bloomberg.

Temasek raised its stake in Olam to 19% last month and will buy any rights not taken up by other investors in the commodity company’s proposed US$1.25 billion bond and warrant offering.

Demand for agricultural commodities may be supported by a rebound in China, the biggest consumer of soybeans, which is poised to snap a seven-quarter slowdown as growth probably accelerated to 7.8% in the three months ended Dec. 31, according to the median of 35 economist estimates compiled by Bloomberg.

PURE PRODUCERS
Aberdeen’s Young said he prefers pure producers such as United Malacca Bhd and United Plantations Bhd, which are both traded in Kuala Lumpur. “We prefer simpler, more plain-vanilla type companies.”

United Malacca gained 5.4% last year and United Plantations advanced 32% in Kuala Lumpur trading.

“The plantation companies we like have an area with ground, with trees, and they produce palm oil,” he said. “It’s quite tangible. Land assets, land rights are very visible.”

Singapore-based Golden Agri-Resources, the world’s second-biggest palm oil producer, declined 9.1% last year. That made it the third-worst performer in Singapore, yet it outperformed Wilmar and Olam.

GOLDEN AGRI
The average 12-month target price for Golden Agri- Resources’ stock is 74 cents, compared with close of 66.5 cents on Jan. 4, based on 19 analysts’ predictions compiled by Bloomberg. The stock dropped 0.8% to 66 cents as of 10:05 a.m. today.

Profit at the Singapore-based producer may have plunged to US$494.7 million in 2012, the lowest since 2006, according to 17 analyst estimates compiled by Bloomberg. The stock has dropped amid a 23% retreat in palm oil, as customers cut orders and inventories piled up.

“It is hard to be really bullish on the sector at the moment,” said Julie Tay, an investment manager at Scottish Investment Trust Plc, which oversees about $1 billion in assets. “The positive and negative factors for palm oil look quite balanced in the near term.

icy97

Phillip downgrades Wilmar to Neutral, ups target price
http://sgx.i3investor.com/servlets/fdnews/41654.jsp

Mon, 7 Jan 13:46  
Phillip Securities downgrades Wilmar (F34.SG) to Neutral from Accumulate as the stock’s recent gains suggest limited upside. “Based on our estimates, Wilmar is trading at an estimated FY13E P/E of 14.5x, which is in line with its five-year average of 14.4x.”

The house raises its target to $3.70 from $3.47, based on 14.0x PER blended with DCF from the previous 13.0x FY13 PER.

Phillip expects CPO prices to continue gaining strength in 1Q13 before fading gradually heading into 2Q13 amid seasonally weak CPO demand, stronger CPO supply production in both Malaysia and Indonesia and the record high palm-oil stockpile at 2013’s start.

But while Wilmar’s revenue may fall, it doesn’t expect lower edible-oil prices to have much of a negative impact on the company as it is a significant downstream player, which may benefit from the lower feedstock prices. Wilmar is up 0.3% at $3.60.

icy97

Maybank upgrades Wilmar to 'buy'
http://www.theedgesingapore.com/the-daily-edge/business/42348-maybank-upgrades-wilmar-to-buy.html

Fri, 18 Jan 13:24  
Maybank Kim Eng upgraded palm oil company Wilmar International to ‘buy’ from ‘sell’ and raised its target price to $4.65 from $2.75, on expectations its earnings will improve along with a recovery in its biggest market China.

By 10:30 a.m., Wilmar shares were flat at $3.64, having risen nearly 9% since the start of the year, compared with the Straits Times Index's 1.2% gains.

Expectations of low crude palm oil (CPO) prices in 2013 will benefit Wilmar, as it is a net buyer of CPO, although it owns some plantations, Maybank said, adding that lower feedstock cost will likely improve margins of its refining, trading and consumer divisions.

An improvement in China, which accounts for almost 50% of Wilmar's revenue, will boost the palm oil company and its plans to cut back capital expenditure will strengthen its balance sheet.

“With China’s soybean imports hitting a surprising high towards the end of 2012, we believe earnings surprises lie ahead,” said Maybank in a report.

franklyss

谁知道发生什么事， 为什么几天起4%

icy97

Wilmar down 2.6%; Possibly on profit-taking: OCBC
http://www.theedgesingapore.com/the-daily-edge/business/42640-wilmar-down-26-possibly-on-profit-taking-ocbc.html

Wed, 6 Feb 12:18  
Wilmar (F34.SG) is down 2.6% at $3.69, with several analysts saying they’re puzzled by the drop. “It could be profit-taking because it’s been up,” says Carey Wong, an analyst at OCBC.

“The stock’s been quite volatile of late,” he says, noting there’s no news on the China or palm-oil price fronts.

Separately, Standard Chartered has recently shifted its top segment pick to Noble (N21.SG) from Wilmar.

The stock is still up more than 10% year-to-date.

Orderbook quotes suggest the stock won’t retest its $3.65 intraday low. Wilmar’s results are due Feb. 22. Noble has slipped into negative territory, falling 0.8% to $1.195, while Olam (O32.SG) is flat at $1.62.

icy97

Wilmar's oilseed segment set to improve: Citi
http://www.theedgesingapore.com/the-daily-edge/business/42825-wilmars-oilseed-segment-set-to-improve-citi.html

Wed, 20 Feb 15:09
Wilmar’s (F34.SG) oilseeds segment is the key focus for its earnings release Friday, Citigroup says.

“While overcapacity and price volatility resulted in negative crush margins and losses for its oilseeds division in 1H12, this should improve in FY13 as China’s inventory of lower-priced beans is consumed and grey finance firms (speculative interest in soybeans has reduced in 2H12) that have plagued bona-fide crushers such as Wilmar become less relevant as margins for such activities recede.”

While it expects average China crush margins remained weak in 4Q12, it doesn’t believe this will persist long-term given the mainland’s large soy deficit.

“We expect that its oilseeds division will recover back to half of peak margin levels by FY14, as Wilmar remains the firm with the best scale in this segment to ride out the cycle.”

It rates the stock at Buy with a $4.08 target, tipping it as a key conduit for China’s and Asia’s rising food needs due to its strong investments in palm plantations and sugar. The stock is up 1.4% at $3.71.

icy97

Wilmar profit falls 4.7% after lower plantation value gain: Updated
http://www.theedgesingapore.com/the-daily-edge/business/42863-wilmar-profit-falls-47-after-lower-plantation-value-gain-updated.html

Fri, 22 Feb 11:05  
Wilmar International, the world’s largest palm oil processor, said fourth-quarter profit dropped 4.7% after palm oil prices declined and it booked a smaller gain on the value of its plantations.

Net income was US$476.8 million ($590.5 million) in the three months ended Dec. 31, from US$500 million a year earlier, the Singapore-based company said today in a statement. It recorded a US$28.8 million gain on its plantations, from a US$262.7 million gain a year ago.

Wilmar today said it’s forming a joint venture with Noble Group, Asia’s biggest publicly traded commodity supplier by sales, to develop and operate palm projects in Papua, Indonesia. Palm oil, the most-consumed cooking oil, plunged 23% in 2012 as stockpiles expanded and demand weakened.

Lower crude palm oil prices will continue to affect Wilmar “in terms of the contribution from the plantations,” said Ben Santoso, an analyst at DBS Group Holdings Ltd. in Singapore. “But bear in mind they would’ve started to operate additional capacity in Indonesia from first quarter onwards so that would boost their profitability further this year.”

The stock lost 1.6% to $3.62 as of 9:53 a.m. in Singapore, compared with a 0.3% decline in the benchmark Straits Times index. Shares have gained 8.4% this year, outperforming the 3.5% advance in the benchmark index.


KEY SEGMENTS
“Most key segments delivered higher profit from operations in the fourth quarter, with the exception of plantations and palm oil mills, which was affected by lower crude palm oil prices,” Wilmar said in the statement

Fourth-quarter profit, excluding non-operating items and biological asset gains, was US$400.9 million, compared with US$264.5 million a year earlier. That compares with the US$412.2 million average estimate of four analysts surveyed by Bloomberg News. Sales increased 0.9% to US$11.6 billion.

Full-year net income fell 22% to US$1.26 billion, beating the US$1.1 billion average estimate of 21 analysts compiled by Bloomberg.

Wilmar will take a 53.7% stake in Noble Plantations, which owns a majority stake in a company holding 22,953 hectares of land in Papua, the companies said today in a joint statement. It didn’t state how much Wilmar is paying.

“Papua is a difficult region to build estates because you need to develop your own infrastructure and it has to be large scale to make it worthwhile because the cost of developing it is very high,” DBS Group’s Santoso said. “The main market would be China. If you go straight north, you would reach China.”

icy97

丰益国际及来宝集团合作
http://www.sharesinv.com/zh/articles/37405/

2013年02月22日
来宝集团(Noble Group)及丰益国际(Wilmar Int’l)联合公布，来宝资源(Noble Resources)将把其在来宝种植(Noble Plantations)的53.74%股权脱售给丰益的全资子公司Newbloom。在完成交易后，丰益及来宝将分别持有来宝种植的53.74%及46.27%股权。来宝种植拥有印尼油棕种植商PT Henrison Inti Persada的大部份股权，而后者在印尼巴布亚拥有占地2万2,953公顷的土地。双方同意通过这项合资来在巴布亚开发土地及从事油棕项目，以生产和销售原棕油及副产品。此外，合资拟在巴布亚进一步探索棕油商机，以扩大现有组合。另外，丰益宣布，其4Q12盈利下跌5%至4亿7,680万美元，由于种植园及棕油加工厂因原棕油价格回落而受影响，尽管多数主要部门均录得盈利提高。

启示：随着中国及亚洲各地区将在来年继续蓬勃发展，棕油的需求料将提高。双方将能通过合资来从对方在油棕种植方面的专业知识中受惠。

icy97

丰益国际去年净利跌22%

财经 天下  2013-02-24 11:56
（新加坡23日讯）丰益国际（Wilmar International）截至去年12月底的全年净利下滑21.6%至12亿5550万美元（38.9亿令吉），但这主要是因为集团去年上半年的业绩表现欠佳，而从下半年开始业务已不断改善。

继净利在三季度按年上扬26%后，集团的四季度核心净利也取得52%的按年增幅，达到4亿余元（10亿令吉），并取得3%的季比增幅，表现略微高于市场预期，主要是因为来自油棕和月桂油业务的贡献。

丰益国际主席兼总裁郭孔丰表示，集团油籽和谷物业务的运营环境去年一直充满挑战，原棕油的价格下滑也对集团造成压力，但集团依然取得了令人满意的业绩表现。

丰益国际全年营收上扬1.7%至454亿6341万元（1136.5亿令吉），四季度营收微增0.9%至116亿2348万元（290.5亿令吉）。
终期股息7.5仙

董事会建议派发每股3分（7.5仙）的终期股息，预计5月14日派发。这使得集团去年全年总派息为每股5分（12.5仙），较前年的6.1分（15.25仙）下滑。

联营巴布亚棕油业

另一方面，丰益国际昨日也宣布将和来宝集团（Noble Group）携手经营合资公司，一起在印尼巴布亚（Papua）发展和经营棕油业务，包括生产和售卖原棕油及其相关产品。

丰益国际将持有合资公司53.74%股权，其余由来宝集团持有。

该合资公司目前是印尼公司PT Henrison Inti Persada的主要股东，而该公司在巴布亚拥有2万2953公顷的棕油生产种植地。[南洋商报财经]

icy97

Wilmar says China crushers cut soy stocks before Brazil crop
http://www.theedgesingapore.com/the-daily-edge/business/42879-wilmar-says-china-crushers-cut-soy-stocks-before-brazil-crop.html

Mon, 25 Feb 18:24
Soybean crushers in China, the biggest importer, are draining inventories as they expect prices to drop on Brazil’s record harvest, even as the country struggles with shipping delays, said Wilmar International.

“We don’t carry excessive stocks of U.S. beans, which is more expensive,” Chief Executive Officer Kuok Khoon Hong said in a Feb. 22 interview, without giving figures. “Everybody is waiting for prices to fall,” he said, referring to processors in China. Wilmar is the country’s top cooking oil supplier.

Prices in Chicago slumped 19% from a record in September as the crop in Brazil headed for a record, surpassing the drought-hit U.S. harvest. Protests by dock workers and a record backlog at Brazil’s ports raised concerns over delays and prompted crushers to buy U.S. supplies last week. Canceled contracts beat purchases in the week to Feb. 14, turning total net sales negative in the five-day period for the first time since 2010, U.S. Department of Agriculture data show.

Deliveries of about 7 million metric tons are held up at ports in Brazil, pushing up prices in China, Kuok said in Singapore, where the company is based.

Futures on the Dalian Commodity Exchange fell 1.2% to close at 4,797 yuan ($953) a ton today after advancing to 4,918 yuan on Feb. 22, the highest level since Nov. 7. On the Chicago Board of Trade, the most-active contract climbed 0.3% to US$14.48 ($17.92) a bushel, after a 2.1% advance last week. Prices reached an all-time high us$17.89 a bushel on Sept. 4.

BRAZIL STRIKE
Dock workers in Brazil held up loading on Feb. 22 at the Port of Santos in a protest over job security as they consider a strike that would disrupt shipments of everything from sugar to soybeans and corn. The country’s ports have 192 ships waiting to load 10.8 million tons of commodities, compared with 90 ships waiting to load 4.1 million tons a year earlier, researcher SA Commodities said Feb. 22. The country is set to by the biggest exporter this year.

China bought 410,000 tons from the U.S., the USDA said Feb. 22. The purchases last week were driven by concerns over shipping disruptions in Brazil, researcher Shanghai JC Intelligence Co. said the same day.

Cancellations beat new purchases of U.S. beans, pulling total net sales for the current and next marketing year to minus 57,526 tons in the week to Feb. 14 from 235,818 tons a week earlier, USDA data show. That’s the first time sales were negative in a week since March 2010, according the data.

WAITING FOR BOTTOM
“Chinese buyers are just waiting to see what the bottom will be,” said Tetsu Emori, a Tokyo-based commodity fund manager at Astmax Investment Management Inc., referring to prices. The delay wouldn’t cut total imports, he said. “As soon as prices decline, the Chinese will come in to buy.”

Brazil shipped 23.9 million tons to China in calendar 2012, compared with almost 26 million tons delivered by the U.S., Chinese customs data showed. As of Feb. 14, about 1.76 million tons of U.S. beans sold to China remain to be shipped in the marketing year ending Aug. 31, down from 3.04 million tons a year earlier, USDA data show.

China’s imports are forecast to advance to 62 million tons in the year through September from 59.2 million tons in 2011- 2012, the Hamburg, Germany-based industry researcher Oil World said in a report last month.

Brazil’s harvest will surge 26 percent this year from 2011- 2012. The worst drought since the 1930s destroyed crops in the U.S., last year’s top producer and shipper. China’s share of global imports will reach 65 percent this year from 63.5% in 2011-2012, the USDA estimates.

yen+hock

在3.53,被我抛弃了...

pollux

基本面上没有利空的消息啊，为何连日下跌，有高人解释吗