Most plantation stocks up but Golden Land down. Why? One of the cheapest plantation stock(in price) which is still below NTA as compare to RSawit and TDM which is above NTA. Perhaps should sell their plantation land to plantation giant like IOI, KL Kepong, Felda, etc to realise value.
ceritanya CPO price is very low so its bad for upstream plantation companies. But for downstream plantation companies its the other way round la. Palm kernel price is hot now. If analyst keep downgrading upstream players, youll see more interest in the downstream bisnes like Golden Land laa
The fact released, to acquire 2 companies @ USD 5,734,960 or RM 21,219,352. Acquire of 68.75% and the permitted plantation land of 26,600 hectares. Based on valuation, RM 21.2 mil to purchase 18,287.5 hectares in Indonesia is considered very cheap. Gland has make a great deal.
Golden Land: To expand oil palm plantation with Singapore firms buy. Palm oil player Golden Land has proposed to buy 68.8% each of Singapore-incorporated companies Parimo Agri Holdings Pte Ltd (PAH) and Parigi Plantation Holding Pte Ltd (PPH) for a total USD5.7m (RM21.1m), to expand its oil palm plantation overseas. It said the acquisitions of PAH (USD3.2m) and PPH (RM2.5m) would allow it to have a controlling stake in their subsidiaries. (Financial Daily)
Potential corporate exercise being discussed, Mr Oh is one of the successful management buyout of ICI Malaysia. Directorship in several listed companies such as UEM Sunrise and Faber Group. Based on net asset per share, it closed to RM3 per share. Currently, Gland is trading at 100% discount on the NAT. If the MBO crystallize, it definitely more than RM2. Looks forward for more clearer picture on the negotiation.
Corporate exercise handled by RHB Investment bank,otherwise, the analysts will not check / analyze on this inactive counter. 3 days traded volumes exceeded whole year cumulative volume. It shows that the RHB's fund managers also interested to buy in this counter.
Owh.. I think you got it confused there. That 15% you were referring to is not distribution. That money will be held in an income generating account as final retention sum. In case the disposed companies over declare their dividends to GLB, this 15% money will be reduced accordingly. See clause 2.5.3 for the explanation =)
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GLBHD confirmed trend reversal. New uptrend created after close to 2-year long correction. Watching.