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Olaim Group Financial Results
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Rightstock
Senior |
08-Jan-2023 09:01
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May I know from the followers here whether Olam Group had aready distributed Olam Agri shares to Olam Group shareholders or it will be distributed upon the agri business IPO. | ||||
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Joelton
Supreme |
07-Jan-2023 09:32
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Olam Agri picks banks for US$1b Singapore listing
OLAM Group has picked banks to lead a planned Singapore listing of its agribusiness unit that could raise as much as US$1 billion, people familiar with the matter said.
The company selected Citigroup, DBS Group Holdings, HSBC Holdings and Morgan Stanley to arrange the planned initial public offering of Olam Agri Holdings, according to the people.
It&rsquo s aiming to complete the share sale later this year, the people said, asking not to be identified because the information is private. The deliberations are ongoing and details of the listing could change, the people said.
A representative for Olam said the company continues to focus on executing its reorganisation plan and will make a public announcement about any material developments. Spokespeople for the banks declined to comment.
Olam Group shares jumped as much as 3.4 per cent on Friday, touching their highest intraday level in nearly six months, according to data compiled by Bloomberg. It has a market value of about US$4.3 billion.
The group said in December it completed the sale of a 35 per cent stake in Olam Agri to state-owned Saudi Agricultural & Livestock Investment, a subsidiary of the oil-rich country&rsquo s Public Investment Fund. The deal valued the business at about US$3.5 billion.
Olam Agri sells grains and seeds and makes everything from edible oils to pasta, according to its website.
It has over 9,000 employees and operations in more than 30 countries.
The business is one of Olam Group&rsquo s main operating units, formed in a reorganisation announced in early 2020.
The group delayed a planned London IPO last year for another unit, Olam Food Ingredients, citing the war in Ukraine.
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CheeryVGoh
Supreme |
28-Dec-2022 14:02
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News released on 23rd Dec afternoon by SGX.
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FATABA
Supreme |
28-Dec-2022 10:56
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WOW prices start moving yesterday before this news was out ? Insider infro ? Whatever Olam is worth more then it parts ....dyodd
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Dragonite
Member |
28-Dec-2022 10:10
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With the money gained from the successful sale of stake in Olam Agri to the Saudis, Olam NAV will definitely increase to more than 2 dollars...
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Joelton
Supreme |
06-Dec-2022 08:54
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Singapore&rsquo s Olam Agri secures US$2b for parent&rsquo s reorganisation
SINGAPORE&rsquo S Olam Agri has secured a US$2 billion bridge financing facility to support the reorganisation plan of its parent, Olam Group, the grains and animal feed trader said on Monday (Dec 5).
Agri-business giant Olam Group announced its reorganisation plan in January 2020 to categorise its products under two operating businesses, with an intention to potentially spin out each unit and list them separately.
It has since secured multiple loans including a US$2.9 billion facility in August for refinancing its existing loans.
The 18-month bridge loan facility may also be used for general corporate purposes, Olam Agri said.
&ldquo This transaction gives Olam Agri significant financial flexibility while Olam Group continues on its reorganisation pathway,&rdquo said Olam Group CFO N Muthukumar.
In August, Olam Group posted a marginal rise in net profit for the first half of fiscal 2022, as a weak performance in its food ingredients unit partially countered strength in the Olam Agri business.
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FATABA
Supreme |
04-Nov-2022 18:06
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Any idea when is Olam Q3 result guildance ?
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antifragile
Senior |
04-Nov-2022 16:26
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TP $1.85 | ||||
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antifragile
Senior |
31-Oct-2022 10:26
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Look at Wilmar! Olam next! |
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limkopilim
Member |
31-Oct-2022 10:15
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SBB driving the price?
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antifragile
Senior |
27-Oct-2022 15:37
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Sum of parts more than the current price. Wont go wrong |
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FATABA
Supreme |
27-Oct-2022 14:01
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The listing was to be end of the year and early next year. However, looking at the UK situation .....honestly wondering how long this new PM will be ( ohoh) .....listing could be delayed But OLam is certainly going ahead . it is just a matter of timing . Global demand for products that Olam is having is getting to be a valuable product for many . Dyodd
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limkopilim
Member |
27-Oct-2022 12:25
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Olam SBB for several days... Any news?? | ||||
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Joelton
Supreme |
25-Aug-2022 09:22
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Olam Agri takes out US$2.9b Poseidon Principles facility to refinance loans
OLAM Group&rsquo s food, feed and fibre operating business Olam Agri has obtained a US$2.9 billion facility with a 3-year tenor to refinance its existing loans, and for general corporate purposes.
The loan is based on Poseidon Principles, a framework for integrating climate considerations into lending decisions to promote international shipping&rsquo s decarbonisation.
In a press statement on Wednesday (Aug 24), Olam Agri said the facility saw participation from a &ldquo large and diverse group&rdquo of 16 lenders including DBS, MUFG Bank and Natixis - who also served as joint Poseidon Principles programme co-ordinators for the facility.
HSBC was appointed the facility agent.
The facility is guaranteed by Olam Group : VC2 0% with Olam Agri subsidiaries, Olam Global Agri and Olam Global Agri Treasury, as co-borrowers.
&ldquo We are encouraged by the strong endorsement and support from our banking partners for this facility,&rdquo said N Muthukumar, group chief financial officer of Olam Group as well as chief executive officer of operations at Olam Agri.
&ldquo This facility is closely aligned with Olam Agri&rsquo s purpose of transforming food, feed and fibre for a more sustainable future and strengthens our resolve to improve carbon management in our freight business&rdquo .
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wait4opp
Master |
24-Aug-2022 12:28
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Olam Agri secures US$2.9 bil loan based on responsible ship finance principleshttps://www.theedgesingapore.com/news/sustainability/olam-agri-secures-us29-bil-loan-based-responsible-ship-finance-principlesOlam now got money and price is so cheap! On 12 Aug 22, result reporting with the price closed at $1.57. Shortists need to cover fast..... DYODD |
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katak88
Master |
12-Aug-2022 09:53
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Olam' s 1HFY2022 earnings marginally up by 1.8% to $429.1 mil as it continues reorganisation planFri, Aug 12, 2022 &bull 09:35 AM GMT+08
Olam International has posted 1HFY2022 ended June earnings of $429.1 million, a slight 1.8% increase y-o-y from $421.5 million recorded in the previous corresponding period. This is attributed to the strong EBIT growth partly offset by higher finance costs amid a high interest rate environment, taxes and higher one-off exceptional charges related to the group&rsquo s reorganisation. Excluding exceptional items, operational PATMI was up 8.2% to S$472.5 million. The group expects to incur additional one-off and non-recurring expenses associated with the reorganisation plan in 2HFY2022 although these expenses for the full year are expected to be lower than the total recorded for 2021. Earnings per share (EPS) for the 2HFY2022 stood at 10.35 from the 11.68 cents for 1HFY2021. Olam&rsquo s revenue increased 24.6% y-o-y on higher prices across many products and commodities in the first half of the year. EBIT grew 25.0% to $802.1 million mainly due to the strong earnings contribution from Olam Agri which contributed 75.9% of the total group EBIT, while Olam Food Ingredients (ofi) contributed 33% and the remaining was of Olam Group at -8.9%. Olam group CFO N Muthukumar said the company is pleased with the strong free cash flow generation of $465.7 million in 1HFY2022 along with a healthy cash position of $6.4 billion as well as ample available liquidity. &ldquo Our discipline in managing our working capital needs amid rising commodity prices has enabled us to remain resilient,&rdquo he added. The board of directors has declared an interim dividend of 4 cents per share for the period ended June. In its business outlook, the company noted that the significant demand growth rate and pick-up seen in 2HFY2021 has slowed down in 1HFY2022 after the geopolitical crisis, accompanied by the hard pandemic lockdowns in China. Amid this, ofi continues to make targeted investments across its portfolio to support its private label thrusts and well positioned for 2022 as the revised sales pricing and margin recovery gathers pace in 2HFY2022. Meanwhile, riding on its strong growth and outperformance in 1HFY2022, Olam Agri expects to deliver a better year-on-year performance for 2022 while navigating the heightened geopolitical and macroeconomic risks. Overall, given the 1HFY2022 results and barring any unforeseen circumstances or unfavourable geopolitical, macroeconomic and pandemic developments, Olam is cautiously optimistic about its prospects for the rest of 2022, even as the industry continues to see strong underlying demand amid tight supplies. As at 9.28am, shares in Olam are trading at an unchanged $1.57. |
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