Six key points:
(1) Strong FFB growth so far in FY09/10, but this may moderate if affected by El Nino;
(2) Better CPO prices to come in next few quarters as we believe KLK has already sold some of its FY10 production forward earlier, at more attractive prices;
(3) No labour shortage problems yet, although this may materialise in the medium term, once labour permits start expiring;
(4) Delay in new methyl ester sulfonate plant completion by 6-9 months to either 3Q/4Q FY09/10;
(5) Good news from the retail division - coming from lower provisions to be made for its US store closures, and from the property division - coming from approval to start development for a new township development; and
(6) Higher new land planting targets of 15,000ha p.a. (from 10,000ha).
Kuala Lumpur Kepong Berhad : Benefitting From Its Young Age Profile - 25/03/2010
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