【TDM 2054 交流专区】嘉隆发展

jenefer

精挑细选: 棕油价走高 嘉隆发展受惠
2011/02/07 3:43:26 PM
●罗凤琴


濒临3800令吉关口的原棕油价格，估计在面对恶劣气候造成的供需失衡下，料于今年首季冲破4000令吉，并进一步试探4486令吉的历史新高水平。

鉴于原棕油价格近期势不可挡，估计种植股项的走势料会与棕油价格并行，其中嘉隆发展 (TDM， 2054，主板种植股)料是其中一家受惠的公司。

各股的股价走势已证明种植股是马股市中具抗跌能力的股项，也是最经得起时间考验的企业，因为种植公司拥有最重要资产——地库，价值有升无降，是保值的最佳资产。

嘉隆发展的主要业务为种植与提炼棕油，该公司的前身为登嘉楼发展与管理公司，嘉隆发展的种植面积约占了登嘉楼六分一的总种植面积。

嘉隆发展的主要股东为登州政府的两家机构，股权为68％，分别是PMINT和登嘉楼州务大臣机构。

除此之外，该公司涉及医院与家畜业，这些业务都是与生活息息相关的必需品，需求只会随着人口增长、经济增长而不断增加。

嘉隆发展拥有收入稳定的油棕种植业做为核心业务，可为公司带来稳定的现金流；而该公司在2006年的每公顷鲜果串（FFB）产量仅为15公吨，后在积极提升下，原棕油与棕仁产量后来也逐年增加，现为约每公顷20公吨，符合全国每公顷平均产量。

扩充种植地段

另一个有利该公司的因素为棕油价格的高企；目前，棕油价冲破每公吨3500令吉。该公司估计其种植领域盈利有望在2011年进一步取得15%到23%的增长。

除此之外，嘉隆发展也将继续扩充其在加里曼丹的种植地段，以提升效率。

该公司早前在印尼加里曼丹收购的4万公顷农业地，首阶段占地2万5000公顷已开始展开种植。

预计该公司的种植面积将有所提升，并预期到了2011年或2012年，可开始取得回酬。

财务实力稳固

嘉隆发展也是一家财务实力稳固的公司，该公司拥有1亿2200万令吉现金，有足够的财力发展这个新油棕园，并无需借贷。

目前，嘉隆发展的油棕园大部分在盛产期，预计5年内无需翻种。

在支出减少的情况止，盈利估计会相应提高。

依据嘉隆发展的一贯作法，该公司一般把盈利分配成3部分，其一是当作股息回馈给股东、其余两部分作为股票储存及扩展用途。

这家公司秉持不错的派息策略、净资产也高企，同时也手握大笔的现金，低企的债务有助于让该公司日后的运作更上一层楼。

公司前景

脱售缺乏潜质业务

公司的首要任务是脱售缺乏潜质的业务，同时提高其余业务单位的表现。

另一方面，嘉隆发展也设法提升其位于登嘉楼于双溪东聂和甘马挽的两座棕油厂的加工流程与营运，增加原棕油与棕仁的榨取率与质量。

长期而言，公司计划通过扩大种植面积及提高生产力来改善核心油棕业务。

在家畜业方面，该公司计划建立有力的品牌，以期在清真市场拥有主导地位。

【投资风险】

●由于种植地需要3至5年之后，才看到成果，该公司短期内的营业额与盈利增长75%来自管理效率，25%则视油价走涨带动。全球需求及供应、气候条件等，将会造成原棕油价格低于预期。

●原油价格高涨，将导至成本上扬，进而直接引致其核心油棕业务的生产成本高涨。

●股票流动率欠佳，透过雇员认股计划(ESOS)增加股票流通量。

jenefer

这期的精挑细选得不錯.   和冷眼可分析有異曲同工之妙.

jenefer

南美大豆丰收,原棕油相信很可能跌破rm3000.

Kevlee

南美大豆丰收,原棕油相信很可能跌破rm3000.
jenefer 发表于 8-2-2011 12:23 PM

    这个真的很难预测。

jenefer

Company Name	:	TDM BERHAD
Stock Name	:	TDM
Date Announced	:	08/02/2011

Subject	:	TDM-EMPLOYEES’ SHARE OPTION SCHEME (“SCHEME”)
Contents	:	Kindly be advised that the abovementioned Company’s additional 74,000 new ordinary shares of RM1.00 each issued pursuant to the aforesaid Scheme will be granted listing and quotation with effect from 9.00 a.m., Thursday, 10 February 2011

jenefer

中囯加息,原棕油肯定倒地不起.

toyo18

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jenefer 发表于 8-2-2011 09:23 PM

这是想表达什么呢？

zapzap333

KLK    IOI              慘跌

zapzap333

原棕油跌了5%,大豆丰收.

zapzap333

Company Name	:	TDM BERHAD
Stock Name	:	TDM
Date Announced	:	16/02/2011

Subject	:	TDM-EMPLOYEES’ SHARE OPTION SCHEME (“SCHEME”)
Contents	:	Kindly be advised that the abovementioned Company’s additional 404,500 new ordinary shares of RM1.00 each issued pursuant to the aforesaid Scheme will be granted listing and quotation with effect from 9.00 a.m., Friday, 18 February 2011.

zapzap333

明天疯狂的ESOS会倒到3元以下.

toyo18

明天疯狂的ESOS会倒到3元以下.
zapzap333 发表于 17-2-2011 02:27 PM

ESOS完毕后会冲过RM4...

zapzap333

油棕股进入跌週期,IOI就是例子,再不走,就晚了.

zapzap333

跌破3600了...

zapzap333

等不到明天,现在巳跌破3.00了.

penangist

看来今天的ESOS没有带来很大的影响！

penangist

Review of the performance of the Group, setting out material factors affecting the earnings and/or revenue of the Q4 2010 versus Q4 2009

Group for the current quarter and financial year to date
Group revenue of RM135.6 million in the current quarter was 39% higher than that reported in the previous corresponding quarter.
Profit before taxation rose by 69% to RM51.0 million for the Q4 2010, compared to RM30.2 million in the previous corresponding
quarter.
Plantation Division
Our Plantation Division reported a 69% increase in profit before tax for the Q4 2010 compared to the same period last year mainly
due to:
a) Higher CPO and PK production by 10% and 7% respectively.
b) Higher average CPO and PK prices by 33% and 52%
Healthcare Division
Plantation Division
For FY 2010, our Plantation Division recorded 84% increase in profit before tax compared to FY2009, due to:
a) Higher CPO and PK production by 7% and 7% respectively.
b) Higher average CPO and PK prices by 19% and 44% respectively.
Healthcare Division
For FY2010, our Healthcare Division recorded higher revenue and profit before tax by 20% and 46% respectively, compare to FY2009.
This is contributed by the increased in patient number by 5% as compared to the same period last year.
Food Division
Our Healthcare Division continues to register double digit revenue and profit growth. For Q4 2010, the division recorded an increase
in revenue and profit before tax by 32% and 71% respectively. This is contributed by the increased in patient number by 28% as
compared to the same period last year.

FY 2010 versus FY 2009
Group revenue increased by 25% to RM420.9 million from RM335.6 million recorded in FY2009. Profit before tax of RM131.4 million
was higher by 70% than that reported in FY2009 of RM77.5 million.
Plantation Division
For FY 2010, our Plantation Division recorded 84% increase in profit before tax compared to FY2009, due to:
a) Higher CPO and PK production by 7% and 7% respectively.
b) Higher average CPO and PK prices by 19% and 44% respectively.
Healthcare Division
For FY2010, our Healthcare Division recorded higher revenue and profit before tax by 20% and 46% respectively, compare to FY2009.
This is contributed by the increased in patient number by 5% as compared to the same period last year.
Food Division
For FY2010, our Food Division recorded losses of RM1.5 million due lower average prices achieved as a result of weakened demand
for processed birds.

zico50

cash & bank balance 比起去年增加了70million, 要派发RM0.20的股息不是问题。。

toyo18

cash & bank balance 比起去年增加了70million, 要派发RM0.20的股息不是问题。。
zico50 发表于 21-2-2011 06:11 PM

但肯定这个季度是没股息拿了！

zico50

但肯定这个季度是没股息拿了！
toyo18 发表于 22-2-2011 06:13 PM

    为什么？TDM可以明天，或下个星期，或下个月才公布股息阿。。