Author Topic: IOI  (Read 2264 times)

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IOI
« on: May 10, 2016, 07:10:49 AM »


IOI to challenge RSPO decision in Swiss court
Posted on 10 May 2016 - 05:39am
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PETALING JAYA: IOI Corp Bhd has filed a challenge proceeding with the Justice of Peace in Zurich, Switzerland, against the Roundtable on Sustainable Palm Oil (RSPO) certification suspension decision by the RSPO Board of Governors.

In a filing with the stock exchange, the plantation giant said under Swiss law, an action to challenge the decision of an association must be filed within one month after the decision was made.

“A conciliatory hearing will be held before the JP, who will mediate between both parties. Only if the parties are unable to reach agreement during the conciliation proceedings, will the Justice of Peace grant IOI authorisation to proceed with a formal legal action against RSPO, to be filed at the District Court in Zurich,” it explained. 

Nevertheless, IOI stressed that the challenge proceeding is a separate matter from the group’s ongoing implementation of the concrete actions as required by RSPO.

“IOI remains committed to its membership in, and the sustainability principles of RSPO,” it said.

IOI had in March submitted a five-step action plan in a bid to overturn the suspension of the RSPO certification due to the allegedly non-compliance to the RSPO certification systems regulations, failing to submit the new planting procedure documentations within the prescribed time, as well as non-adherence to the RSPO principles and criteria pertaining to the development of palm oil plantation.

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Re: IOI
« Reply #1 on: May 11, 2016, 07:14:18 AM »



RSPO suspension could drag on for IOI Corp
Posted on 11 May 2016 - 05:37am
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PETALING JAYA: The suspension by the Roundtable on Sustainable Palm Oil (RSPO) on IOI Corp Bhd’s certification could drag on as it takes a long time to get the issues resolved, according to HLIB Research.

IOI has filed a challenge proceeding with Justice of Peace in Zurich, Switzerland against the decision made by RSPO Board of Governor to suspend IOI’s RSPO certificates.

A conciliatory hearing will be held before the Justice of Peace who will be mediate between both parties. The Justice of Peace will grant IOI authorisation to proceed with a formal legal action against RSPO, to be filed at the District Court in Zurich only if the parties are unable to reach agreement during the conciliation proceedings.

At the same time, IOI will continue to focus on actions required to lift the RSPO membership suspension. It has revised its action plan after consultation with non-governmental organisations.

“While IOI hopes it could resolve the issue within a few months but we believe that the suspension could drag on as it takes a long time to get the issues resolved,” HLIB said in a report yesterday.

To recap, RSPO Board of Governors has decided to suspend IOI Corp’s RSPO certification for the entire IOI group from April 1 onwards until action plan has been submitted and accepted by RSPO and Peer Review of the HCV assessments has been performed.

“We maintain a hold call on IOI for now with target price of RM4.30 pending outcome of the challenge proceeding,” said HLIB

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Re: IOI
« Reply #2 on: May 11, 2016, 08:54:46 AM »



Moody's reviews IOI Corp's Baa2 ratings for downgrade
By theedgemarkets.com / theedgemarkets.com   | May 10, 2016 : 11:24 PM MYT   
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KUALA LUMPUR (May 10): Moody's Investors Services has placed IOI Corp Bhd's Baa2 issuer rating on review for a downgrade.

In a statement today, the ratings agency has also placed the Baa2 senior unsecured bond rating of IOI Investment (L) Bhd, and the Baa2 senior unsecured bank credit facility rating of IOI Ventures (L) Bhd on review.

"The (P)Baa2 senior unsecured medium-term note (MTN) program rating of IOI Investment has also been placed on review for downgrade," it said.

As such, it has changed IOI Corp's outlook to 'rating under review' from negative. The same has also been done for IOI Investment and IOI Ventures.

"The review for downgrade was driven by uncertainty regarding IOI Corp's operating performance, particularly on its downstream business, after its entire oil palm production was suspended by the Roundtable on Sustainable Palm Oil (RSPO), and the resultant announcement by several of its customers to cease cooperation with the company," said Moody's vice president and senior analyst Jacintha Poh.

Since April 4, RSPO has suspended the certification for all of IOI Corp's oil palm production after receiving complaints by a non-governmental organisation on the non-compliance of IOI Corp's Indonesia plantation, which produced about 2% of the company's annual crude palm oil (CPO) production, with various RSPO Principles and Criteria and requirements.

"IOI Corp has submitted an action plan to RSPO, which it believes will help resolve the complaints. However, the time frame for the resolution remains uncertain and Moody's notes that some plantation companies have required more than a year to satisfy RSPO's complaints," said Poh.

"While potential sales losses from IOI Corp's inability to supply certified palm oil are not quantifiable at this point due to ongoing developments with RSPO and its customers, we note that the company's earnings could deteriorate significantly, which could in turn pressure its financial metrics, if the suspension is not resolved within a year," she added.

As such, Moody's expects IOI Corp's downstream business to be severely impacted, particularly by customers in Europe and the US who might switch to other suppliers to comply with their policies on environmental sustainability.

Moody's also expects IOI Corp to suffer reputational damage, as the suspension is the second in five years, which may result in a further loss of customers.

Nonetheless, Moody's expects IOI Corp's operating profit for its fiscal year ending June 30, 2016 (FY2016) to remain broadly stable, supported by an expectation that the company will benefit from a higher average CPO price in 2H FY2016. There is also the assumption that it had accumulated a sufficient amount of inventory before the suspension to continue producing RSPO-certified products in 4Q FY2016 for its existing customers.

The review will focus on IOI Corp's measures to resolve its suspension by RSPO on a timely basis, its strategy to manage its business with the ability to retain its customers during the suspension period, its continued maintenance of a sizeable liquid assets base, and pro-active refinancing of its short-term debt maturities.

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Re: IOI
« Reply #3 on: May 19, 2016, 05:55:01 AM »



IOI Corp returns to the black in Q3
Published: May 18, 2016 09:32 PM GMT+8

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KUALA LUMPUR, May 18 ― IOI Corp Bhd returned to the black in the third quarter ended March 31, 2016, with a pre-tax profit of RM869.40 million against a pre-tax loss of RM109.20 million registered in the same quarter last year.

Revenue rose to RM2.87 billion from RM2.76 billion previously, it said in a filing to Bursa Malaysia.

For the nine-month period, IOI Corp’s pre-tax profit leaped to RM1.09 billion from RM253.60 million, in the corresponding quarter, mainly due to lower net foreign currency translation loss on foreign currency denominated borrowings and higher contribution from resource-based manufacturing segment. ― Bernama

- See more at: http://m.themalaymailonline.com/money/article/ioi-corp-returns-to-the-black-in-q3#sthash.ipNIqmZj.dpuf

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Re: IOI
« Reply #4 on: May 19, 2016, 07:08:07 AM »



Forex lifts IOI Corp's Q3 earnings
Posted on 19 May 2016 - 05:38am
sunbiz@thesundaily.com
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PETALING JAYA: IOI Corp Bhd's posted a RM748.4 million earnings in the third quarter ended March 31, 2016 (Q3'FY16) from a net loss of RM188 million, thanks mainly to a foreign translation currency gain.

In a filing with Bursa Malaysia yesterday, the plantation giant said it made a net foreign currency translation gain of RM432.8 million in Q2'FY16 on foreign currency-denominated borrowings versus a RM332.7 million translation loss a year earlier.

Excluding the forex gain, IOI said the underlying pre-tax profit was up 95% year-on-year at RM436.6 million.

The company said its plantation profit decreased by 13% to RM166.3 million for Q3'FY2016 as compared to RM191.8 million reported a year before, due mainly to lower resh fruit bunches (FFB) production which was mitigated by higher crude palm oil (CPO) and palm kernel (PK) prices realised.

On the resource-based manufacturing segment's profit, IOI Corp said it surged 196% to RM305.1 million in Q3 mainly due to fair value gain on derivative financial instruments of RM184.9 million.

"Excluding the fair value gain on derivative financial instruments, the underlying profit for resource-based manufacturing of RM120.2 million for Q3'FY2016 is 22% higher than the underlying profit of RM98.7 million for Q3'FY2015. This is mainly due to higher contribution from the oleochemicals and the specialty oils and fats sub-segments," it said.

For the nine-month period to March 31 2016, IOI posted earnings of RM754.2 million against RM8.2 million in the previous year's corresponding period. Revenue, meanwhile, increased 3.6% to RM8.92.

On its prospects, IOI Corp said the group expects its underlying performance for the remaining quarters to be "satisfactory."

IOI Corp explained that the dry weather conditions brought by the El Nino phenomenon has reduced oil palm fruits production sharply from January to April 2016.

Consequently, it said that palm oil stock is at a relatively low level at 1.8 million tonnes as reported by Malaysian Palm Oil Board for end April," it said.

"In view of the increased demand for palm oil during the coming Ramadan month and festival, we expect crude palm oil prices to remain firm at the prevailing level of between RM2,500/MT to RM2,700/MT during the remaining financial quarter," it said.

As for the resource-based manufacturing segment, IOI said the specialty oils and fats sub-segment will face challenges in the next few months with the suspension of its Roundtable on Sustainable Palm Oil (RSPO) certificates.

IOI Corp said the group's key priority is to work towards lifting the RSPO certification suspension.

"The group is taking all appropriate actions to implement the action plan as required by RSPO and we expect the actions to be completed by end May 2016," it added.

It also noted that the volatility of dollar ringgit exchange rate will continue to impact the non-cash flow forex translation gain/loss arising from its medium to long dated dollar denominated borrowings, though to a lesser extent than two to three quarters ago

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Re: IOI
« Reply #5 on: May 19, 2016, 02:55:31 PM »



Highlight
IOI Corp's US$25m deal for LCK Nutrition called off
By theedgemarkets.com / theedgemarkets.com   | May 19, 2016 : 2:39 PM MYT   
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KUALA LUMPUR (May 19): IOI Corp Bhd said today that its proposed acquisition of a 50% stake in LCK Nutrition Ltd for US$25 million (RM93.5 million) has been called off.

In a filing with Bursa Malaysia today, IOI Corp said it, LC Group BV, LCK Nutrition and Denny Foods Ltd, have mutually agreed to terminate the agreement entered into in June last year, with immediate effect. No reason was given.

"Accordingly, the transactions contemplated by the agreement have not been concluded," the group added.

Under the proposed deal, IOI Corp’s wholly-owned subsidiary Loders Croklaan Group BV was to subscribe to a 50% stake in LCK Nutrition for US$25 million. In return, Loders Croklaan will be transferring its Betapol business to LCK.

The balance 50% of LCK Nutrition was to be held by Kerry Group PLC, which is a food company incorporated in Ireland. Kerry Group is listed on the Ireland and London stock exchanges.

Betapol is a palm oil-derived nutritional additive, which is used to fortify infant milk powder.
 
IOI Corp said the termination is not expected to have any material effect on the group's earnings or net assets for the financial year ending June 30, 2016.

IOI Corp shares closed up 5 sen or 2.26% at RM2.26 in the morning session today, with 213,400 shares traded. Its market capitalisation stood at RM26.75 billion

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Re: IOI
« Reply #6 on: May 20, 2016, 07:13:26 AM »



财经  2016年05月19日
RSPO认证吊销 IOI目標价下砍

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(吉隆坡19日讯)IOI集团(IOICORP,1961,主板种植股)2016財政年首9个月业绩虽大致上符合预期,但分析员料棕油永续发展圆桌会议(简称RSPO)认证被暂停,將衝击该公司下游业务,因此下砍其目標价。

早盘休市该公司宣布,通过子公司洛德斯克罗科兰(Loders Croklaan)收购LCK Nutrition股权的洽谈告吹,虽然如此,却无阻其股价于週四(19日)走高,全天起8仙或1.91%,至4.26令吉,成交量达1284万1700股。

回顾去年6月24日,IOI集团独资公司--IOI洛德斯克罗科兰建议以2500万欧元认购LCK Nutrition有限公司的100股股票和2500万欧元的可赎回普通股。

此外,该公司也建议將-IOI洛德斯克罗科兰旗下的Betapol TM业务转至LCK Nutrition。


该公司今日宣布,买卖双方同意中止这项收购计划。

该公司股价今日以4.22令吉高开后,迅速下探至全天最低的4.19令吉,渐渐回稳,向上攀升,触及最高的4.31令吉,相比週三闭市价4.18令吉,增长13仙或3.11%;不过,午盘交易,该股回吐部份涨幅,收报4.26令吉。

天然资源製造业务及外幣债务兑换盈利,带动IOI集团2016財政年第3季(截至3月31日止)转亏为盈,净赚7亿4840万令吉,相比去年同期的1亿8800万令吉净亏损;营业额则按年微增3.9%,至28亿6600万令吉。

这也带动首9个月净利按年暴增约91倍,至7亿5420万令吉,9个月累积营业额则走高3.6%,至89亿2120万令吉。

客户流失

马银行投行分析员指出,该公司下游业务较高的税前盈利贡献,稍微抵消受厄尔尼诺拖累上游业务的影响,引领IOI集团首9个月核心净利高于预期,佔他们全年预测的103%。

然而,该公司业绩表现却低于肯纳格研究和JF艾毕斯分析员预测。

丰隆投行分析员言道,沙巴长期乾旱导致该公司第3季鲜果串產量按年跌23.2%,进而拖累首10个月鲜果串產量减少10.2%至262万公吨,弱于预期。

分析员普遍预期,未来几个月的產量仍疲软,並下调其全年產量预测。

另一方面,在IOI集团4月1日起,RSPO认证被吊销,公司流失部份客户,包括雀巢、家乐和玛氏食品,分析员认为,不但投资者信心受影响,公司也將面对盈利下滑及流失客户的问题。

大眾投行分析员认为,失去这项认证,將拉低IOI集团税前盈利约9%。目前,IOI集团管理层已通过瑞士苏黎世的太平绅士,挑战RSPO理事会做出的决定,预计于5月杪完成。

至于棕油价格走势,IOI集团管理层预料,2016財政年末季(4月至6月)棕油价格將徘徊在每公吨2500令吉至2700令吉间。

整体而言,肯纳格研究分析员將该公司2016和2017財政年的核心净利各下修21%和9%,至9亿8000万令吉和12亿3000万令吉,同时调低目標价至4.05令吉,並维持IOI集团「跑输大市」投资评级。

基于鲜果串產量减低及棕油价格疲弱,JF艾毕斯分析员將IOI集团2016和2017財政年盈利预测调低19%和21%,目標价降至4.25令吉,维持「守住」投资评级。

马银行投行分析员却认为,IOI集团股价近期的跌势已经过头,因此,维持「买进」评级和4.59令吉的目標价。

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Re: IOI
« Reply #7 on: June 04, 2016, 06:03:51 AM »



已提呈文件‧IOI集團RSPO待解凍
2016-06-03 19:20     

(吉隆坡3日訊)IOI集團(IOICORP,1961,主板種植組)已依據棕油永續發展圓桌會議(RSPO)要求提呈文件,並靜待申訴委員會本月開會決定是否解除該公司的凍結令。
或延至下月再作議決
申訴委員會每月開會一次,如果不滿意IOI集團的處理方案,就可能延至下月再作議決。
IOI集團昨日在公司網站宣佈,週一(30日)已提呈完整的應對計劃、季度進展、永續資源分配與策略措施等一系列文件予申訴委員會;此外,該公司也已呈交包括PT SKS、PTBNS和PT BSS在內3家子公司的2009至2014年高保護價值(HCV)地段同業評議考核報告。
申訴委員會分別於3月14日、4月28日和5月5日的信件中列出解除凍結令的條件,包括審核並批准IOI集團的應對計劃、同業評議考核、季度進展和策略措施報告,以及資源分配等報告。
聯昌研究指出,申訴委員會將在本月開會,如果滿意和接受IOI集團的處理方案,就會建議RSPO董事部解除凍結令;萬一申訴委員會仍有疑問,就得留待下次會議再決定。
該行補充,如果凍結令解除,相信IOI集團會撤回早前在瑞士蘇黎世法庭挑戰RSPO董事部決定的控訴。
聯昌研究認為凍結令很快會解除,並讓IOI集團爭取4月4日凍結令發出後流失的客戶。
“假設凍結令為期一年,我們估計該集團截至2017年6月止財政年淨利最多將減少7%。”
根據媒體報道,IOI集團已丟失聯合利華(Unilever)、赫希(Hershey's)、高露潔-棕欖(Colgate-Palmolive)、莊生(Johnson&Johnson)和寶潔(P&G)等主要客戶的訂單。
聯昌研究認為,IOI集團股價已經反映凍結令利空,決定維持“守住”評級和4令吉52仙目標價。
今日收市,IOI集團起4仙,報4令吉21仙。( 星洲日報/財經‧報道:王寶欽


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Re: IOI
« Reply #8 on: June 04, 2016, 08:28:20 AM »



IOI集團 或本月重獲RSPO認證
 98点阅   2016年6月03日
■IOI集團或在短期內恢復RSPO認證。
■IOI集團或在短期內恢復RSPO認證。
(吉隆坡3日訊)IOI集團(IOICORP,1961,主要板種植)準備就緒解決棕油永續發展圓桌會議(簡稱RSPO)認證遭中止一事,聯昌證券研究估計,最早本月可解決。

聯昌證券研究指出,本月進行的棕油永續發展圓桌會議投訴裁決小組(complaints panel)會議,將商討IOI集團RSPO認證遭中止一事,若滿意IOI集團所提呈的文件,屆時將恢復公司的RSPO認證。



聯昌證券研究在報告中指出,從棕油永續發展圓桌會議的網站看來,投訴裁決小組將每月展開會議。

“如果投訴裁決小組滿意並接受IOI集團的議案,很可能會向棕油永續發展圓桌會議理事會建議,對IOI集團解禁。不過,如果投訴裁決小組對相關文件提出查詢,解禁就可能延遲至下一輪會議。”

IOI集團已向投訴裁決小組,提呈完成行動計劃、季度進度報告、集團可持續資源分配,以及政策措施的件。

聯昌證券研究看好上述發展,因為IOI集團有望恢復認證,有能力重獲因認證遭中止一事,而流失的部份銷售和客戶。

不過,假設IOI集團認證遭中止事件持續1年,聯昌證券研究預計,該集團2016/2017財年淨利將遭拉低7%

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Re: IOI
« Reply #9 on: June 07, 2016, 12:04:58 PM »



Hot Stock
IOI Corp extends gains after providing more clarity on RSPO suspension development
By Gho Chee Yuan / theedgemarkets.com   | June 7, 2016 : 11:32 AM MYT   
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KUALA LUMPUR (June 7): Shares in IOI Corp Bhd has jumped 20 sen or 4.8% over the past week after the group furnished the Roundtable on Sustainable Palm Oil (RSPO) committee with the latest development on the suspension of its RSPO certificate.

IOI Corp was notified of its RSPO certificate suspension in March after RSPO received complaints made by a non-governmental organisation against its Indonesian subsidiaries.

Since then, its shares shed 85 sen or 17.1% to RM4.12 on May 16 from RM4.97 on March 18.

However, the stock regained momentum last week after it submitted completed documents to RSPO and raised the likelihood of its RSPO certification suspension being lifted soon.

At 10.46am, the stock extended gains today by climbing eight sen or 1.87% to trade at RM4.35, after 5.41 million shares were crossed between RM4.28 and RM4.35.

The current price values it at RM26.85 billion.

Yesterday, the plantation group announced that it had decided to withdraw the challenge proceedings against the RSPO suspension decision in the Zurich District Court of Switzerland.

IOI Corp said the withdrawal of the challenge proceedings will be formalised during a conciliatory hearing before the Justice of Peace on June 14.

"Since the filing of the challenge proceedings, the group had engaged with many of its stakeholders such as customers, non-governmental organisations and the RSPO to resolve this matter," it added.

Commenting on the latest development, Kenanga Research said it is slightly positive on the announcement as it appears to be a sign of progress for the resolution of IOI Corp's ongoing RSPO certificate suspension.

"Pending further management guidance, we place our call (Underperform and target price of RM4.05) under review with a positive bias as we believe the withdrawal reflects IOI Corp's commitment to resolve the suspension via RSPO's internal processes, likely the speedier path," the firm added.

Recall that IOI Corp initially filed a challenge on May 9 with the Justice of Peace in Zurich, Switzerland, against RSPO's suspension decision, which could be a precursor to legal action by IOI Corp against RSPO and a potentially lengthy suspension period.

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Re: IOI
« Reply #10 on: June 08, 2016, 07:17:35 AM »



Thumbs up for IOI's conciliatory approach on RSPO suspension
Posted on 8 June 2016 - 05:38am
sunbiz@thesundaily.com
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PETALING JAYA: IOI Corp Bhd’s move to withdraw its lawsuit against the Roundtable for Sustainable Palm Oil (RSPO) is seen as a quicker and amicable resolution to its suspension, said MaybankIB Research.

It said since the filing of the challenge proceeding, IOI has engaged with many of its stakeholders such as customers, non-governmental organisations (NGOs) and the RSPO to resolve this matter. IOI has completed its action plan and on May 30 submitted to the RSPO a memorandum on its sustainability policy initiatives and resource deployment.

“Our view is unchanged in that IOI’s RSPO suspension will be resolved in six to 12 months from its April 4, 2016 suspension date. We maintain our contrarian ‘buy’ call on IOI with an unchanged target price of RM4.59,” said MaybankIB.

One of the key policy initiatives stated in the memorandum is IOI’s commitment to voluntarily adopt the more stringent RSPO Next certification system starting from end of year 2016. RSPO Next’s commitment includes no deforestation, no fire, no planting on peat, reduction of greenhouse gas, respect for human rights and transparency, and is applicable at an organisation wide level.

MIDF Research is also glad that IOI has submitted the memorandum on its sustainability policy initiatives to the RSPO. If the RSPO is satisfied with the memorandum as well as the actions that IOI has taken, it is possible that the suspension on IOI will be lifted.

“We believe that IOI Corp’s suspension may be lifted in less than a year given its proactive stance. The company has also abandoned the court process in which we believe will be more complicated and consume more time,” said MIDF.

The research house upgraded IOI to a “buy” and increased its target price to RM4.82, from RM4.25 previously.

“We have increased our forward price-earnings valuation to 23.1 times from 20.4 times as we believe that the time line for the RSPO suspension to be lifted has declined significantly post the withdrawal of the challenge in court.”

MIDF said it likes IOI due to its good earnings with its nine months core earnings jumping 25% to RM1.14 billion, it being the most liquid proxy to the Malaysian plantation sector to ride the crude palm oil price uptrend, and limited downside seen due to share purchases in the open market by Tan Sri Lee Shin Cheng’s family.

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Re: IOI
« Reply #11 on: June 11, 2016, 09:20:38 AM »



積極處理RSPO認證問題‧IOI評級目標價調高
2016-06-10 17:12     

(吉隆坡10日訊)IOI集團(IOICORP,1961,主板種植組)已提呈行動計劃和同業檢討評估等候棕油永續發展圓桌會議(RSPO)組織批准,並收回對RSPO終止其認證的挑戰,有望加速解凍,肯納格研究因而調高評級與目標價。
IOI集團在上述積極行動計劃和撤除挑戰後,相信在2017年上半年可望解決認證遭終止之事;IOI集團的積極行動,可消除投資者疑慮。
“至於究竟多久才能真正使認證失而復得,這要看RSPO的反應速度,同時也胥視原告Aidenvironmentd是否提出進一步指控。”
因而,肯納格把IOI集團評級由“落後大市”
上修至“反映大市”,目標價也自4令吉零5仙調高至4令吉57仙。
至於IOI集團對該事件所採取積極態度,對其長遠信譽與客戶衝擊,基於事情還在變動之中,目前還說不准。
就目前而言,RSPO認證遭終止,具溢價的永續認證(CSPO)棕油產品不再受歐美跨國公司所購買,這區塊相當於集團營業額的51%,或者精製油的70%營收。
剛公佈第三季業績後,肯納格預測CSPO低營收將促使2016至2017財政年中盈利更低,基於目前仍高度波動,因而未把潛在對業務損失計算在內。
IOI集團曾於5月9日嘗試在瑞士蘇黎世對RSPO終止RSPO認證提出挑戰,然而6月1日決定撤除挑戰。這意味IOI集團決定透過RSPO內部程序解決問題,解除凍結令的進程可能更快速。
6月1日當天,IOI集團提交季度報告予RSPO監管局,這獲得IOI集團董事局放行。集團也呈IOI集團永續資源分配與政策方略。
“本行獲知,IOI集團已提交RSPO所要求的所有文件,只差印尼林業服務的信函(預計6月中提交)、非政府組織Aidenvironment的回饋、土地使用轉變分析(6月中)。”
根據RSPO投訴局,建議期限內必須提交的行動計劃已提呈、並獲RSPO接受,目前球在RSPO腳下。( 星洲日報/財經‧報道:張啟華)


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Re: IOI
« Reply #12 on: July 19, 2016, 02:31:45 PM »



 3 1 2 7
Major buyer Cargill suspends ties with IOI Group
FMT Reporters | July 19, 2016
More than two dozen consumer goods giants have already moved to cut off IOI, phase out existing supplies or suspend future purchases.
cargill-ioi-group-1

KUALA LUMPUR: As part of its commitment to end deforestation, peat lands conversion and human rights abuses from its vast supply network, Cargill has suspended ties with IOI Group.
This follows IOI having had its certification suspended by the Roundtable on Sustainable Palm Oil (RSPO), over alleged environmental destruction in Indonesia.
Before Cargill’s announcement on Monday, more than two dozen consumer goods giants had already moved to cut off IOI, phase out existing supplies or suspend future purchases.


“IOI Group has yet to deliver a responsible sourcing policy or a detailed sustainability implementation plan to meet our requirements,” said Cargill in a statement. “Cargill will suspend business by not entering into any new purchase contracts until IOI Group can meet our requirements and comply with our sustainable palm oil policy. ”
Cargill set a July 15 deadline in late June for IOI to come up with a new sourcing policy and sustainability plan or risk not having any new agreements with it.
“Cargill gave IOI every opportunity to reform. It failed to meet expectations. The market has spoken. IOI is not a source of responsibly produced palm oil,” added Deborah Lapidus, campaign director at the Center for International Policy.
“IOI can’t just issue another paper commitment and wipe its hands clean of its many violations.”
IOI has serious work to do to implement a moratorium on new forest and peat clearing, and demonstrate verified progress on the ground, she cautioned. “It must make up for past damage to ecosystems and communities.

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Re: IOI
« Reply #13 on: July 19, 2016, 02:35:36 PM »
 :clap:

malimalimaliongongongnotongchefbutishua thuatong

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Re: IOI
« Reply #14 on: July 26, 2016, 08:14:11 AM »



IOI集团
3年财测下修
13点看 2016年7月26日
分析:艾芬黄氏投资

目标价:4.15令吉
最新进展:


IOI集团(IOICORP,1961,主板种植股)棕油永续发展圆桌会议(RSPO)会籍被暂停,嘉吉(Cargill)宣布,与前者暂停合作关系。

嘉吉表示,IOI集团并未交出一个可靠的采购政策,或是能够符合前者要求的详细永续执行计划。因此,将不再与IOI集团签署任何新采购合约,直至后者符合需求及永续棕油政策。

行家建议:

IOI集团市值自3月以来不断蒸发,我们认为,这与公司可能受到的财务影响似乎不成比例,我们相信,若RSPO决定恢复IOI集团的会籍,股价料会进一步反弹。

另外,为了强化永续发展,我们估计,公司将承诺自愿采用更严格的RSPO NEXT认证系统。

IOI集团2016末季鲜果串产量低于预期,不过,原棕油平均售价则增长8%。

由于2016财年鲜果串的产量增长低于预测,因此,我们认为2017财年的产量会更高,增长率介于10至11%。

综合所有因素,我们把2016至2018财年的核心净利预测,分别下修11.7%、2.8%、1.0%,维持“守住”评级,但目标价则从4.24令吉,下调至4.15令吉。



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Re: IOI
« Reply #15 on: July 26, 2016, 09:02:55 AM »



财经
IOI集團市值蒸發40億 分析員:市場過度反應
 888点阅   2016年7月24日
IOI集團的已獲認證可持續棕油,僅貢獻該公司稅務與攤銷前盈利約4%。
IOI集團的已獲認證可持續棕油,僅貢獻該公司稅務與攤銷前盈利約4%。
(吉隆坡24日訊)IOI集團(IOICORP,1961,主要板種植)因棕油永續發展圓桌會議(簡稱RSPO)證書自3月底傳出再遭吊銷,除了聲譽嚴重受損,短短3個月內公司市值更蒸發了40億令吉,分析員指這只是市場的過度反應。

艾芬黃氏資本研究指出,IOI集團的已獲認證可持續棕油(CSPO)銷售僅貢獻該公司的稅務與攤銷前盈利(EBIT)約4%,因此股價貶幅和潛在的業務影響並不成比例。



況且IOI集團已向棕油永續發展圓桌會議投訴裁決小組提呈上訴文件,以期重奪RSPO證書。

該研究指,IOI集團已提交了所有所需文件,並剛于6月27日提呈季度進展報告,如今只待投訴裁決小組的官方回復,艾芬黃氏資本研究相信一旦結果正面,IOI集團股價就會反彈走高。

該研究指出,除了RSPO證書問題,IOI集團也面對其他下行風險,包括疲軟的經濟、高于預期的植物油產量、原棕油價格急挫及生產成本提高。

但早前因艾爾尼諾(El Nino)現象導致本財年油棕樹鮮果串(FFB)產量較預期來得更低,該研究因此下修IOI集團2016至2018財年核心淨利11.7%(調低至11億1460萬令吉)、2.8%及1%。

該研究也預計令吉兌美元將走低,預計將從2016財年第3季的3.88,在末季跌至3.99,因此將可能的匯率損失納入考量后,保持該股“持有”評級,及下調目標價從4.24令吉至4.15令吉。

截至上週五(22日)閉市,IOI集團跌1仙或0.23%至4.29令吉,交投共178萬3800股。

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Re: IOI
« Reply #16 on: August 05, 2016, 04:30:48 PM »


FINALLY

LOOK LOOK UP

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Re: IOI
« Reply #17 on: August 06, 2016, 03:57:08 PM »



财经  2016年08月05日
重获RSPO认证  IOI偷步走高

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(吉隆坡5日讯)IOI集团(IOICORP,1961,主板种植股)宣布,接获棕油永续发展圆桌会议(简称RSPO)董事局的信函,通知该集团投诉委员会(CP)已经解除IOI集团RSPO认证被撤消的决定。

在以上消息出炉之前,IOI集团的股价已经偷步走高,该股以全天最低的4.23令吉开盘后,节节走高,盘中触及4.46令吉全天最高水平,最后以4.45令吉掛收,全天飆升22仙或5.20%,位居全场上升榜第5名,共有1684万8400股易手。

该集团在闭市后发文告指出,委员会对IOI集团能够符合它在3月14日信函中所列明的相关条件感到满意。

文告称,认证撤消的决定將在8月8日起正式解除。无论如何,该集团將继续提交由委员会规定的季度进展报告。


在12个月將结束时,委员会將委任由一群专家组成的独立验证小组,进行有关投诉的审查。

IOI集团是在今年3月29日接获RSPO董事局通知,其认证被撤销,从4月1日起生效,原因是该集团在印尼的油棕园被非政府组织投诉。

投诉內容包括没有遵守RSPO认证条例、无法在限时內提呈新种植程序(NPP)文件,以及种植油棕时没有遵守RSPO的原则与条件

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Re: IOI
« Reply #18 on: August 07, 2016, 11:37:18 AM »



IOI faces uphill battle to win back lost customers after lifting of RSPO suspension
By Yimie Yong / theedgemarkets.com   | August 5, 2016 : 10:50 PM MYT   
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KUALA LUMPUR (Aug 5): IOI Corp Bhd shares ended higher today on news that the suspension of its certification by the Roundtable on Sustainable Palm Oil (RSPO) has been lifted.

The stock gained 22 sen or 5.2% to close at RM4.45, with 16.85 million shares traded, making it the fifth top gainer on Bursa Malaysia. Its market capitalisation stood at RM27.98 billion.

While the market hailed the news, analysts said it's still early days for the palm oil producer to regain its customers such as Unilever, Colgate-Palmolive, Hershey's, Johnson & Johnson, Kellogg, Mars, Nestle, Procter & Gamble, Reckitt Benckiser, SC Johnson and Yum! Brands which had stopped buying palm oil from IOI following the suspension.

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The suspension, which went into effect on April 4, had lead to some of its key customers sourcing palm oil from other RSPO-certified suppliers such as Kuala Lumpur Kepong Bhd.

“This (lifting of the suspension) is definitely positive for IOI. The suspension has affected its downstream operations,” CIMB Research regional head of plantations and deputy head of Malaysia research Ivy Ng Lee Fang told theedgemarkets.com today.

Kenanga Investment Bank Bhd plantation analyst Voon Yee Ping concurred. However, she said the positive effects from the lifting may take some time to be felt by IOI.

“It may take some time for IOI to get its orders back. A lot of its major customers, especially multinational companies, (which had cancelled their contracts with IOI) may take a while to return,” she said.

“This may take months,” she added.

Voon sees the four-month suspension impacting IOI's earnings in the financial year ended June 30, 2016 (FY16). “4QFY16 will definitely be affected, and maybe a little for 1QFY17.”

In a statement today, the RSPO Secretariat said its Board of Governors has endorsed the recommendation made by the complaints panel to lift the suspension of RSPO certification for the entire IOI Group effective Aug 8.

IOI, one of the founding members of the RSPO, had announced in late March that its RSPO certification for its entire oil palm production would be suspended from April, following complaints of violation of RSPO criteria by non-governmental organisations against the plantation estates of IOI's Indonesian subsidiaries.

The announcement came after sustainability consultants Aidenvironment submitted a formal complaint to RSPO in that same month, alleging deforestation in IOI concessions in Ketapang, among others.

Prior to the update today from the RSPO Secretariat, IOI Group and Aidenvironment had, in a joint statement dated July 28, said there had been significant progress made in resolving the Ketapang complaint case.

They also agreed on several main actions, including the immediate removal of all 'overplanted' oil palms by IOI Group, and that the company will have in place legally required fire prevention and mitigation measures and commence the implementation of an integrated peat.

IOI Corp's share price, which has been sliding since end-March to touch a low of RM4.12 on May 16, has shown signs of recovery since last month.

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Re: IOI
« Reply #19 on: August 09, 2016, 07:11:42 AM »



财经  2016年08月08日
IOI解禁效应明年发酵 客户回流遇阻

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(吉隆坡8日讯)虽然IOI集团(IOICORP,1961,主板种植股)的棕油永续发展圆桌会议(RSPO)认证失而復得,但分析员认为该公司需要一些时间来挽回之前失去的客户。

IOI集团上周五(5日)宣佈,RSPO在今天全面「解封」其RSPO认证。

投诉委员对IOI集团已经符合RSPO条件感到满意,才建议放行RSPO认证。

然而,假如核查小组发现IOI集团重蹈覆辙,其RSPO认证將再度被撤销。此外,IOI集团必须继续呈交季度进展报告,RSPO团队会在12个月后再作评估。


肯纳格研究分析员表示,他对IOI集团的宣佈並不感到意外,当IOI集团提交改善计划和要求RSPO再作评估之时,他便乐观地认为,该公司的认证禁令会在2017年上半年解除。

不过,该分析员指出,虽然上述消息可提振投资者情绪,但IOI集团的净利不会太快反弹,因为该公司之前流失不少大客户,比如联合利华(Unilever)、宝洁公司(P&G)和嘉吉公司(Cargill)。

「我们相信IOI集团要花一些时间才能挽回这些客户,而由于该公司的声誉早前已经受损,可能令一些新客户(跨国公司)却步。但IOI集团的净利预计从2017年第1季中旬起好转。」

与此同时,MIDF研究分析员称,IOI集团的RSPO认证比预期中更快被解禁,对其股价表现有利。

他补充,「我们在6月7日说过,从IOI集团积极主动的姿態来看,它们的认证或许在一年內便会解禁,如今却不到5个月就解禁(今年3月29日至8月8日)。」

无论如何,达证券分析员强调,IOI集团重获RSPO认证遭受一些非政府组织的批评,比如雨林行动网络(Rainforest Action Network)和Greenspace,可能令IOI集团在找回流失的客户时面对阻力。

他也提醒,IOI集团的一些原有客户,已经转投其他更可靠和获得RSPO认证的供应商。因此,认证解禁的利好效应要花一些时间才会反映在其净利表现。

末季净利料按年走高另一方面,肯纳格研究分析员提到,IOI集团即將公佈的2016財政年第4季业绩(截至6月30日止)料按年走高,按季则持平,皆因当季的棕油价上扬8%,鲜果串產量则增加36%。

达证券维持IOI集团的「卖出」评级,目標价从3.60令吉,上调至3.90令吉;MIDF研究维持其「买进」评级,目標价从4.82令吉,上修至5.15令吉;及肯纳格研究维持其「超越大市」评级,目標价从4.57令吉,调高至4.80令吉。

由于IOI集团股价在5日偷步走高,今天已稍微回落,闭市报4.40令吉,全天下跌5仙或1.12%,成交量是773万股

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Re: IOI
« Reply #20 on: November 19, 2016, 06:52:04 AM »



经  2016年11月18日
IOI首季转亏为盈 净赚1亿

(吉隆坡18日讯)受惠于所有业务较高的贡献,以及较低的外匯兑换亏损,促使IOI集团(IOICORP,1961,主板种植股)2017財政年首季(截至9月30日止)转亏为盈,净赚1亿零480万令吉,去年同期则蒙亏7亿4440万令吉。

与此同时,IOI集团2017財政年首季营业额从去年同期的30亿8670万令吉,按年成长6.63%,至32亿9130万令吉。

虽然IOI集团在今天早盘休市期间公布了转亏为盈的成绩单,但是该集团股价在午盘並没有因此而受到激励,全天在4.35至4.39令吉区间窄幅波动,最后以4.37令吉闭市,下跌1仙或0.23%,成交量为399万6100股。

IOI集团在提呈给交易所的財报中指出,2017財政年税前盈利为1亿8920万令吉,扭转了去年同期6亿6960万令吉的税前亏损,归功于旗下所有业务带来了更高的贡献,以及与去年同期相比,现財政年首季所蒙受的外匯亏损较低。


该集团2017財政年首季的外匯兑换亏损,从去年同期的8亿5390万令吉,大幅收窄至1亿7200万令吉。

种植业务盈利涨57%

针对个別业务的表现,IOI集团种植业务在2017財政年首季的盈利按年上涨57%,至3亿4660万令吉,去年同期为2亿2140万令吉,主要是由较高的原棕油和棕櫚仁价格带动。

IOI集团指出,2017財政年首季的原棕油和棕櫚仁平均价格,分別为每公吨2464令吉和2603令。

至于该集团以资源为基础的製造业务,在2017財政年首季成功转亏为盈,取得5510万令吉盈利,去年同期蒙受880万令吉的亏损。

展望未来,IOI集团表示,儘管鲜果串收成会受2015年和2016年初乾旱的气候影响而减少,不过预计种植业务將会交出令人满意的表现,因为受到近期走高的原棕油和棕櫚仁价格的支撑。

该集团补充说,令吉兑美元匯率波动,將影响其外匯兑换亏损或获利,主要是该集团持有中长期美元债务。

无论如何,该集团表示,预计2017財政年的整体营运表现將令人满意

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Re: IOI
« Reply #21 on: November 21, 2016, 04:03:39 PM »



2016-11-21 14:53
IOI集团短期盈利展望趋谨
IOI集团首季业绩符合预期,分析员看好在较高原棕油价及鲜果串产能复苏支撑下,上游业务将成为第二季主要盈利贡献者,不过马币贬值是最大关注,该公司外债近80%是美元债务,汇损可能拖累表现,让短期盈利展望趋谨。
(吉隆坡21日讯)IOI集团(IOICORP,1961,主板种植组)首季业绩符合预期,分析员看好在较高原棕油价及鲜果串产能复苏支撑下,上游业务将成为第二季主要盈利贡献者,不过马币贬值是最大关注,该公司外债近80%是美元债务,汇损可能拖累表现,让短期盈利展望趋谨。

广告

 
马银行研究认为马币贬值是该公司当前最大的隐忧,因为RSPO影响还在可管理范围,该集团在2017财政年起步缓慢,主要是盈利被马币疲弱抑制,马币兑美元若继续走疲,该集团短期情绪将继续受影响,马币每贬10%,将导致6亿3000万令吉的汇率亏损。

文章来源:
http://172.18.169.191/sciedit/integrated.htm

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Re: IOI
« Reply #22 on: December 05, 2016, 03:08:47 PM »



2016-12-05 13:45
IOI集团评级和目标价上修
IOI集团与Aidenvironment机构握手言和,肯纳格研究认为加里曼丹土地纠纷事件圆满落幕,2大解决方案对集团盈利影响不大,但却能起到抚平投资者不安情绪的效果,因此上调其投资评级和目标价。
(吉隆坡5日讯)IOI集团(IOICORP,1961,主板种植组)与Aidenvironment机构握手言和,肯纳格研究认为加里曼丹土地纠纷事件圆满落幕,2大解决方案对集团盈利影响不大,但却能起到抚平投资者不安情绪的效果,因此上调其投资评级和目标价。

广告

 
IOI集团与Aidenvironment机构在上周五发布联合声明,表示双方达成协议终止加里曼丹吉打榜(Ketapang)投诉案,而IOI集团印尼臂膀--PT BNS将即时搁置434公顷与森林地重叠的土地,并决定在一个种植周期内,不销售PTBNS生产及PTSKS影响区域的棕油产品。

文章来源:
星洲网‧2016.12.05

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Re: IOI
« Reply #23 on: January 07, 2017, 08:33:06 AM »



公共信托晋IOI集团大股东
31点看 2017年1月7日
(吉隆坡6日讯)IOI集团(IOICORP,1961,主板种植股)迎来公共信托公司,成为该公司新大股东。

IOI集团向马交所报备,公共信托公司在本月3日,一口气购下IOI集团的3亿1571万900股,或5.02%股权,成为IOI集团大股东。


IOI集团今天收报4.50令吉,上涨6仙或1.35%,成交量为851万2900股。


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Re: IOI
« Reply #24 on: January 07, 2017, 04:21:58 PM »



Saturday, 7 January 2017
Positive profit indicators for oil palm planters
BY HANIM ADNAN







 Analysts say that this year, local planters could stand to gain from the CPO average selling prices of between RM2,500 and RM2,800 per tonne.
Analysts say that this year, local planters could stand to gain from the CPO average selling prices of between RM2,500 and RM2,800 per tonne.
 
THE current steep crude palm oil (CPO) price trading above RM3,000 per tonne and the lower palm oil inventory are positive profit indicators for oil palm plantation companies moving into year 2017.

But analysts say that local planters’ profit margins this year could be undermined by escalating production costs, particularly in fertilisers, due to the weakening ringgit against the US dollar, the full-year impact of minimum wages and uncertain export markets outlook.

This year, local planters could stand to gain from the CPO average selling prices of between RM2,500 and RM2,800 per tonne – albeit almost the same level as last year, according to analysts.

This is on the back of efficient planters’ average cost of production between RM1,400 to RM1,500 per tonne compared with less-efficient or new planters, whose cost of production could be as high as RM1,800 per tonne.

Among the plantation companies, a mere RM100 increase in the CPO price per tonne could translate into additional “hefty” contributions to group profits.

According to Maybank Kim Eng in its latest regional plantations report, companies which are most sensitive and leveraged to the CPO price movement with relatively higher cost of production per tonne include TH Plantations Bhd, Felda Global Ventures Holdings Bhd (FGV) and Boustead Plantations Bhd.

For every RM100 per tonne change in CPO prices, TH Plantations’ earnings sensitivity is the highest at about 28.8% followed by FGV at 28.6%, Boustead Plantations 21.8% and Sarawak Oil Palms Bhd 14.2%, says the research unit.

Maybank Kim Eng points out that the earnings sensitivity to CPO price movement are mostly lower among big planters with diversified upstream and downstream businesses.

IOI Corp Bhd earnings sensitivity is at 5.8%, Kuala Lumpur Kepong Bhd at 6.9%, Sime Darby Bhd at 7.4% and Ta Ann Holdings Bhd at 8.6%.

Sime Darby had said that every RM100 per tonne change in the CPO price could result in an “addition or reduction of about RM250mil” to its group profit while for FGV, it could result in an additional or reduction of about RM100mil.

Maybank Kim Eng also envisaged that large-cap plantations would continue to benefit from syariah-complaint status.

“Large-cap index-linked within the sector have benefitted from the changing investment landscape in Malaysia, where there has been a growing emphasis on syariah-complaint stocks.

“And the Employees Provident Fund has joined the bandwagon as it launched an RM100bil syariah retirement savings fund for contributors effective this month as a start,” adds the research unit.

Maybank Kim Eng also suggests focusing on small laggards such as Sarawak Oil Palms and Boustead Plantations.

“We believe Budget 2017 announced mandate to fund proper research for small-cap to mid-cap stocks in 2017 will benefit the non-large cap plantation stocks, given their valuation gap.”

Its sector “buys” are Sarawak Oil Palms and Boustead Plantations. Boustead Plantation, for example, has high dividend yield of 7.8%.

While Maybank Kim Eng has no “buy” recommendations among the large caps due to their steep valuations, it believes Sime Darby offers the best trading opportunity in the first half of 2017 due to its liquidity, good proxy to recent CPO price rally and ongoing initiatives to enhance shareholders’ value.

Meanwhile, JF Apex Securities in its 2017 outlook report has estimated 2017 CPO average price at RM2,580 per tonne.

“We expect the CPO average selling price in the first half 2017 to be at RM2,818 per tonne. It will range from RM2,637 to RM2,921 per tonne in view of the persistence low inventory level despite gradual recovery of production from the weak spell.

“We anticipate inventory levels to stock up in the second half as a result of recovery from the weak spell effect on production, coupled with seasonal higher production in the second half of the year.”

It points out that profit margin in the plantation sector notched up 50 basis point in 2016 compared with 2015.

“Looking forward, we expect margins to remain at the same level after taking account slight increase in CPO average selling prices in 2017 despite recovery in production, coupled with higher fertiliser cost in view of weaker ringgit and a full-year impact of minimum wages.”

The minimum wages implemented on July 1 last year saw RM1,000 for Peninsular Malaysia and RM920 for Sabah and Sarawak.

JF Apex says the minimum wages will put pressure on the manpower-driven plantation sector.

“And we see the implementation of minimum wages will erode planters’ margins.”

Another factor to pressure planters’ margin is the higher fertiliser cost.

“A weak ringgit that is floating around RM4.35 to the US dollar caused the increase in fertiliser cost.

“As the fertiliser cost makes up 25%-50% of palm oil production cost, the weaker ringgit has lifted the cost of production in plantation companies, exerting downward pressure to the margins,” adds the brokerage.

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Re: IOI
« Reply #25 on: February 20, 2017, 08:26:39 PM »



Monday, 20 February 2017 | MYT 6:47 PM
IOI Corp posts pre-tax profit of RM128m in Q2 FY17
BY JOSEPH CHIN

image: http://www.thestar.com.my/~/media/online/2016/05/18/12/23/ioi-group.ashx/?w=620&h=413&crop=1&hash=ECBBF46E2FFA34423BE0E05ED28C8921AA18582F

 
KUALA LUMPUR: Plantation heavyweight IOI Corporation Bhd posted profit before tax (PBT) of RM128.80mil in the second quarter ended Dec 31, 2016, which was sharply lower than a year ago due to net foreign currency translation loss on foreign currency borrowings.

It said on Monday the PBT was down 84.7% from RM844.20mil a year ago. Its earnings were RM15.60mil compared with RM703.70mil a year ago.

IOI Corp explained the lower PBT was due mainly to the net foreign currency translation loss on foreign currency denominated borrowings of RM330mil for Q2 FY2017 as compared to the gain of RM227.3mil a year ago.

“Excluding the net foreign currency translation loss/gain, the underlying PBT of RM458.8mil for Q2 FY2017 is 26% lower than the underlying PBT of RM616.9milfor Q2 FY2016.

“The lower underlying PBT is due mainly to lower contribution from resource-based manufacturing segment which was partially cushioned by higher contribution from the plantation segment,” it said.

In the Q2, FY17, IOI Corp's revenue rose 23.4% to RM3.66bil from RM2.96bil. Earnings per share were 0.25 sen compared with 11.17 sen. It declared an interim dividend of 4.5 sen compared with 3.5 sen a year ago.

Plantation profit increased by 23% to RM357.9mil for Q2 FY2017 from RM292.1mil due mainly to higher crude palm oil (CPO) and palm kernel (PK) prices realised despite lower fresh fruit bunches (FFB) production.

The average CPO and PK prices realised for Q2 FY2017 were RM2,768 a tonne (Q2 FY2016 at RM2,144 a tonne) and RM2,882 a tonne (Q2 FY2016 at  RM1,631) respectively.

IOI Corp's resource-based manufacturing segment reported lower profit of RM155.4mil for Q2 FY2017 versus RM368.6mil a year ago.

Excluding the fair value loss/gain on derivative financial instruments, the underlying profit for resource-based manufacturing segment of RM178.8mil for Q2 FY2017 was 59% above the underlying profit of RM112.2mil a year ago. This was mainly due to higher margin derived from refining sub-segment.

For the first half, IOI Corp's PBT was higher at RM318mil versus RM153.60mil in the previous corresponding period ended Dec 31, 2015.

The higher PBT was due mainly to higher contribution from plantation segment and lower net foreign currency translation loss on foreign currency denominated borrowings which was offset by lower contribution from resource-based manufacturing segment.

“Excluding the net foreign currency translation loss of RM502.0mil (H1 FY2016 – RM626.6mil) on foreign currency denominated borrowings, the underlying PBT of RM820mil for H1 FY17 is 5% higher than the underlying PBT of RM780.2mil for H1, FY16,” it explained.

It reported earnings of RM120.40mil compared with net loss of -RM40.70mil. Revenue rose 14.9% to RM6.957bil from RM6.055bil.

On the outlook, IOI Corp said CPO and PK prices were expected to remain firm in the current quarter due to the low stocks.

“Going into the last quarter of the financial year, we anticipate that prices will not be significantly impacted by the seasonal increase in production. The plantation segment is therefore expected to perform better than the previous financial year.

“The performance of the resource-based manufacturing segment is expected to be affected by the current firm palm oil and PK  prices,” it said.
IOI Corp said the volatility of the US dollar Ringgit exchange rate would continue to affect the non-cash flow foreign exchange (forex) translation gain/loss arising mainly from its medium to long dated US Dollar-denominated borrowings, as well as the fair value gain/loss on derivative financial instruments which are primarily trade-related forex forward contracts.

IOI Corp also said it had refinanced/swapped some of its US Dollar loans into Euro-denominated loans to diversify its forex risks and reduce its borrowings cost

Read more at http://www.thestar.com.my/business/business-news/2017/02/20/ioi-corp-posts-pre-tax-profit-of-rm128m-in-q2fy17/#4g70m5ZGRWVMuTzy.99

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Re: IOI
« Reply #26 on: February 20, 2017, 08:31:51 PM »



财经  2017年02月20日
3亿外匯亏损 IOI次季净利暴跌98%

(吉隆坡20日讯)由于面对外匯亏损3亿3000万令吉,拖累IOI集团(IOICORP,1961,主板种植股)2017財政年次季(截至去年12月31日止)净利重挫97.78%,至1560万令吉,前期为7亿零380万令吉;营业额则按年上扬23.49%,至36亿6570万令吉,前期为29亿6850万令吉。

不过,该公司上半年业绩转亏为盈,从前期净亏4070万令吉,转为净赚1亿2040万令吉;营业额从前期的60亿5520万令吉,按年增14.89%,至69亿5700万令吉。

该公司宣布派发首次中期股息4.5仙,除权和支付日,分別为3月3日及3月16日。

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Re: IOI
« Reply #27 on: March 01, 2017, 08:08:13 PM »



Wednesday, 1 March 2017 | MYT 2:58 PM
EPF steps up buying of IOI Corp shares in late February
BY JOSEPH CHIN

image: http://www.thestar.com.my/~/media/online/2015/09/10/05/08/ioicorplant10.ashx/?w=620&h=413&crop=1&hash=E232389B2CC7455B6DC28155F277DA7E725EB4BE

 

KUALA LUMPUR: The Employees Provident Fund Board bought more than 15 million shares of IOI Corporation Bhd from Feb 21 to 24.

Filings with Bursa Malaysia showed the EPF bought a total of 15.018 million shares during the period, raising its stake in the plantation heavyweight from 6.78% to 7.02% or 441.29 million shares.

The latest was the purchase of 5.018 million shares on Feb 2.

Read more at http://www.thestar.com.my/business/business-news/2017/03/01/epf-steps-up-buying-of-ioi-corp-shares-in-late-february/#ar1PbkIjvStYh9MQ.99

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Re: IOI
« Reply #28 on: April 28, 2017, 12:15:28 PM »


Highlight
IOI Corp 'firmly committed' to sustainable palm oil supply - CEO
Chong Jin Hun
/
theedgemarkets.com

April 28, 2017 11:09 am MYT

-A+A
KUALA LUMPUR (April 28): IOI Corp Bhd said it "stands firmly committed' to ensure sustainable palm oil supply. The group's commitment is crucial to convince stakeholders on its desire to improve the commodity's supply-chain management.

In a statement today, IOI Corp chief executive officer Datuk Lee Yeow Chor said the company would continue to engage stakeholders in its sustainability journey. Lee said the group hoped to
play a leading role in ensuring sustainable global palm oil supply chains.   

"IOI Corp launched its updated sustainable palm oil policy in August 2016 alongside a comprehensive sustainability implementation plan . Nine months later, the company continues to report advances as well as positive and constructive dialogue with external stakeholders.

[X] CLOSE
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"In particular, IOI is pleased to announce progress in key areas of its sustainable palm oil policy as well as the introduction of additional commitments. These new commitments will serve both enhance field implementation and ensure ongoing best-practice management in the palm oil supply chain," Lee said.

According to him, IOI's measures include working on a joint approach with international non-governmental organisations and grassroots to ensure the core principles of the Roundtable on Sustainable Palm Oil were upheld.

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Re: IOI
« Reply #29 on: May 17, 2017, 06:48:01 AM »



外匯收益锐减 IOI第3季净利挫58%
財经发布於 2017年05月16日 • 最后更新 2017年05月16日 21时21分
外匯收益锐减 IOI第3季净利挫58%

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(吉隆坡16日讯)外匯收益锐减,导致IOI集团(IOICORP,1961,主板种植股)2017財政年第3季(截至3月31日止)净利按年大跌58.14%,至3亿零530万令吉,去年同期为7亿2940万令吉;营业额则按年增加21.17%,至34亿7270万令吉,去年同期为28亿6600万令吉。

根据该公司季度报告指出,当季外匯收益从去年同期的4亿3280万令吉,大幅减少78.9%,至9120万令吉。

而首9个月的外匯亏损更从去年同期的1亿9380万令吉,扩大至4亿1080万令吉。


上述原因拖累IOI集团2017財政年首9个月净利下挫38.19%,至4亿2570万令吉,去年同期为6亿8870万令吉。

首9个月营业额,则从去年同期的89亿2120万令吉,按年上升16.91%,至104亿2970万令吉

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Re: IOI
« Reply #30 on: May 22, 2017, 06:43:11 AM »



2017-05-21 19:53
李勇坚.IOI集团的负累
外汇波动的风险,继续打压IOI集团的业绩表现。IOI集团截至2017年3月杪的第三季净利挫跌58%至3亿零530万令吉,拖累首3季净利下滑38%至4亿2570万令吉,这归咎于首3季的净外币亏损扩大至4亿1080万令吉(去年同期为亏损1亿9380万令吉)和衍生金融工具的合理价值亏损达2570万令吉(前期为取得2亿4280万令吉收益)。
外汇波动的风险,继续打压IOI集团(IOICORP,1961,主板种植组)的业绩表现。

广告

 
IOI集团截至2017年3月杪的第三季净利挫跌58%至3亿零530万令吉,拖累首3季净利下滑38%至4亿2570万令吉,这归咎于首3季的净外币亏损扩大至4亿1080万令吉(去年同期为亏损1亿9380万令吉)和衍生金融工具的合理价值亏损达2570万令吉(前期为取得2亿4280万令吉收益)。

由于汇率的波动,导致IOI集团的业绩大起大落,虽然这只是账面的盈亏,仍令投资者无所适从。该集团2016财年首季曾巨亏逾7亿,但接下来两季又因账面外汇收益而大赚逾7亿令吉,2017财年最新两季净利则分别重挫98%和58%。

由于该集团背负大笔长期美元贷款,一旦马币兑美元汇率波动,就会出现外汇转换收益/亏损,而导致业绩大幅动荡。虽然近期马币回稳对该集团有利,但过度曝露于外汇风险,终非长久之计。所幸其管理层也意识到这个问题,已将一些美元贷款转换为欧元贷款,以分散外汇风险和降低借贷成本,不过相信这需要一段时间才能看到成绩。

无论如何,若剔除这些特殊项目,IOI集团的业绩仍向好,9个月税前盈利实为增长22%,这主要拜种植业务的更高贡献所赐,分析员也普遍预期,其种植业务接下来会有更出色表现。

然而,该集团的下游油脂制造业务却抽后腿,拖累了整体表现。在首3季,其制造业务盈利下跌57%至2亿8480万令吉。

除了由于原料(棕仁)价格高涨影响制造业务的赚幅之外,更值得关注的是,其销量也告减少,这突显了棕油永续发展圆桌会议(RSPO)认证被撤销所带来的冲击。

一家停牌 林刚河建筑公司暴跌
广告

早前IOI集团被环保组织批评,RSPO认证遭撤销,不但影响了公司形象,其业绩也反映了这项不利影响。这也导致分析员纷纷下调该集团财测。

在IOI集团多番努力和作出承诺后,如今已经重获RSPO认证,但这项利好消息仍未直接反映在盈利上,一些客户由于已转向其它供应商,短时间内可能不会马上重投其怀抱。

IOI集团种植业务的效率向来为市场所称道,但却在外币贷款和RSPO的不明朗因素影响下,股价表现落后其它大资本股。该公司也是少数不断进行股票回购的大型企业,以回购股票来扶持股价,至今累积1亿7795万股库存股。看来IOI集团仍须加把劲,才有望重新出发,迎头赶上其它蓝筹股。

文章来源:
星洲日报‧投资致富‧投资茶室‧文:李勇坚‧2017.05.21

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Re: IOI
« Reply #31 on: July 19, 2017, 11:23:15 AM »




Wednesday, 19 July 2017 | MYT 10:00 AM
IOI Corp to post its strongest quarterly headline profit
image: http://www.thestar.com.my/~/media/online/2015/11/25/00/34/analystreport.ashx/?w=620&h=413&crop=1&hash=F49D67CEF74301EB229678AE8BF0E9CE662BC51C

 
KUALA LUMPUR: Maybank Investment Bank Research expects IOI Corp to post its strongest quarterly headline net profit of about RM500mil in 4QFY6/17.

However, the research house said, the potentially strong performance should not be a big surprise to the market as it has expected its core results to be within expectations.

“IOI will release its final quarter results by end-August. By our estimate, IOI will post its strongest quarterly headline net profit of about RM500mil in 4QFY6/17, which is higher than 9MFY6/17’s headline net profit of RM426mil,” Maybank said.

It said the strong 4Q earnings would be partly boosted by unrealised forex translation gains (on its USD debts) estimated at about RM200mil as Ringgit strengthened (3%) against US Dollar during the quarter.

“Stripping aside the forex  gain, we estimate its 4Q core net profit at RM300mil, primarily lifted by higher crude palm oil (CPO) average selling price (ASP) and recovery in FFB output,” Maybank said.

Maybank said the relatively strong 4QFY6/17 results would bring its full-year core net profit to about RM1.121bil, within ours and consensus estimates.

“Hence, we are keeping our forecasts. For FY6/18, we anticipate a flattish profit growth for IOI. While we anticipate a 14% year-on-year in FFB output, this will be offset by our lower CPO ASP forecast of RM2,400 per tonne,” it said.

The research house said has kept its “hold” call on IOI with an unchanged target price of RM4.40 on 25 times FY18 PER, its 5-year mean, given the lack of catalyst.

Read more at http://www.thestar.com.my/business/business-news/2017/07/19/ioi-corp-to-post-its-strongest-quarterly-headline-profit/#boZjxYfKBwVt5VO9.99

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Re: IOI
« Reply #32 on: August 29, 2017, 06:43:48 AM »




末季亏转盈 IOI净赚3.1亿
財经 最后更新 2017年08月28日 21时28分
末季亏转盈 IOI净赚3.1亿

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(吉隆坡28日讯)IOI集团(IOICORP,1961,主板种植股)2017財政年末季(截至6月30日止)转亏为盈,净赚3亿1750万令吉,上財政年同期蒙受5900万令吉净亏损;营业额则从上財政年同期的28亿1810万令吉,涨31.21%,至36亿9760万令吉。

该公司2017財政年全年净利,从上財政年同期的6亿2970万令吉成长18.92%,至7亿4320万令吉;全年营业额从上財政年同期的117亿3930万令吉扬升20.34%,至141亿2730万令吉。

IOI集团在季度报告中表示,由於棕油收成提高及更多的油棕树成熟,2018財政年的鲜果串產量料增加。而过去数个月的棕油价前景疲弱,主因是即使棕油库存正减少,但棕油產量已进入季节性高峰期。

IOI產业净利退14%

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另一方面,IOI產业(IOIPG,5249,主板產业股)2017財政年末季(截至6月30日止)净利按年下滑13.55%,至3亿3664万令吉,前期为3亿8941万令吉;营业额则按年增加34%,至11亿9530万令吉,前期为8亿9172万令吉。

该公司全年净利从10亿8002万令吉,按年下跌14.7%,至9亿2087万令吉;营业额则从前期的30亿2494万令吉,按年上涨38.36%,至41亿8536万令吉。