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Boatman Master	27-Apr-2026 11:31        Boatman About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hahahah
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Alignment Elite	27-Apr-2026 10:04        Alignment About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	It' s not easy and it has' nt been easy to date. The fact such a big upside exists (due to the low price) is that historically execution has disappointed, coupled with challenging cocoa and coffee prices over the last 3 years. The upside is only there if this has changed. I happen to think it has (the latter is a fact), but everyone needs to do their own work and come to a view.    belugacat      ( Date: 24-Apr-2026 20:41) Posted: THREE(3) YEARS! There will be lots of catching to do because the share will go up and down as happended before, and it takes lots of guts and stress to withstand the torture. Good things are never easy! Alignment      ( Date: 24-Apr-2026 17:58) Posted: Well there are two major elements in terms of timing. First there is tranche 2 of Olam Agri which will be sold 3 years after the closing of tranche 1. So let' s call that 3.5 years from now, to be excessively safe, so late 2029. Second there is the sale/IPO of OFI. There are many reasons for the delay in this, but one big reason which management have avoided mentioning is the ramp up in working capital due to the explosion in cocoa and coffee prices. This has now fully reversed itself in cocoa and partially reversed in coffee, and we should see the benefits of this in an unwind of working capital in 2H26. Subsequently though to maximise value I would expect Olam to keep OFI for a year or two to be able to show a better financial track record during a period of more stable prices, before then selling it. So again being conservative, a sale in 2029? But my S$2.60 value is an estimate for today. I would expect that value to grow. 6% return on capital is a figure that Olam seems to think is reasonable, so S$2.60 today growing by 6% a year for 3 years is S$3.10. So, to answer your question, I think we will have to wait 3 years to get S$3.10, if management do a good job. And all the usual caveats about the assumptions i' ve made relating to valuation about which I' ve been transparent. The valuation clearly is sensitive to these assumptions, so anyone can play around with them to get a different answer
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Boatman Master	27-Apr-2026 09:39        Boatman About Contact  Quote this Post!
x 0   x 0  Alert Admin	BB GOGOGOGGO
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Boatman Master	27-Apr-2026 09:23        Boatman About Contact  Quote this Post!
x 0   x 0  Alert Admin	once 1.05 clear!
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Boatman Master	27-Apr-2026 09:21        Boatman About Contact  Quote this Post!
x 0   x 0  Alert Admin	lets go 1.2
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Boatman Master	27-Apr-2026 09:16        Boatman About Contact  Quote this Post!
x 0   x 0  Alert Admin	common !
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belugacat Member	25-Apr-2026 14:38        belugacat About Contact  Quote this Post!
x 0   x 0  Alert Admin	Early bird catches the worm. Looking forward to a new chapter for OLAM. Hip, Hip, Hooray!
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tonytony Veteran	25-Apr-2026 10:36        tonytony About Contact  Quote this Post!
x 0   x 0  Alert Admin	Glad to know analyst is back to cover OLAM group ! Joelton      ( Date: 25-Apr-2026 10:07) Posted: Lim and Tan shoots $1.35 target price. Is Olam ripe for the picking? Few companies are as enigmatic as food and agriculture platform Olam Group. Surviving a negative report from short-seller Muddy Waters, the company received a vote of confidence when Temasek made a voluntary general offer of $2.23 per share in 2014 which resulted in the sovereign wealth fund and concerted parties emerging with an 80% stake. Mitsubishi Corporation acquired around 20% of Olam at $2.75 per share in 2015 while Temasek pared its holdings to slightly above 50% by 2020. Since August 2014, Olam&rsquo s share price has trended down from $2.60 to below 85 cents in recent times. Along the way, it was removed from the benchmark Straits Times Index, of which it was a constituent. In January 2020, the company announced a restructuring to &ldquo unlock value&rdquo for shareholders. This involved organisational restructuring of its business units as well as divestments of businesses and assets. The company is now segmented into three units, mainly Olam Food Ingredients (ofi), Olam Agri and Rest of Olam Group (ROG). Since the announcement, the company has distributed a total of 39.5 cents in dividends from FY2020 to FY2025 (interim). The company did not declare a final dividend for FY2025, mainly for reasons of prudency according to group CEO Sunny Verghese at the company&rsquo s results briefing on Feb 27. Verghese, who co-founded the company nearly 40 years ago, will be stepping down as group CEO on April 27, but will remain as CEO of Olam Agri, one of the business units, which is being divested and in the process of being acquired by Saudi Agricultural and Livestock Investment Company (SALIC). On April 16, the company announced that it has finally obtained regulatory approvals from all necessary 21 jurisdictions for SALIC to purchase a 44.58% stake in Olam Agri. After the completion of this deal, SALIC will own 80.01% of Olam Agri and will also have the option to purchase the remaining 19.99% through a call option. With the divestment of Olam Agri, Nicholas Yon from Lim and Tan Securities thinks Olam is &ldquo now ready for harvest&rdquo . In a non-rated report issued on April 24, Yon values Olam at $1.35, citing three reasons to buy shares in the counter. The first reason for Yon&rsquo s view is the approval of the transaction with SALIC. Pointing out that the development is removing a &ldquo key overhang&rdquo , Yon states that it simplifies Olam&rsquo s structure while de-risking the balance sheet which would also prompt a re-rating of ofi and ROG&rsquo s divestment pipeline. The way Yon sees it, investors find it challenging to understand and value Olam&rsquo s business as there are multiple exceptional items reported yearly that disrupts core earnings and hence, the SALIC transaction will improve clarity for how investors can understand Olam. In addition, Yon expects the deleveraging from the deal will reduce finance costs by around $200 million. He calculates that on a pro-forma basis, net gearing for FY2024 will reduce from 2.79 times to 1.29 times on completion of the 44.58% stake and further reduce to 1.17 times on completion of the remaining 19.99% stake. The next reason for Yon&rsquo s view to buy Olam is that the company is trading at a &ldquo steep&rdquo discount of 0.57 times P/B, implying failure to deliver the restructuring story. Highlighting that Olam just sold Olam Agri at 3.5 times P/B and that the latest ROG transactions were above book value, he thinks Olam&rsquo s valuations are &ldquo unjustified&rdquo . &ldquo As such, there now represents a wide margin of safety for investors, and we think every restructuring milestone from here should narrow the discount,&rdquo he writes. Thirdly, Yon notes that management, including new ROG CEO &ldquo turnaround specialist&rdquo Gautam Wadhwa, has signalled that proceeds from ROG divestments will be returned to shareholders via special dividends. Yon expects the transactions for ARISE and Mindsprint businesses to contribute roughly 15 to 17 cents per share special dividend and their expected completion in 1H2026 and 3Q2026 to be re-rating catalysts upon distribution announcement. Yon adds a caveat, mentioning that capital allocation will depend on management&rsquo s decision regarding the perpetual securities due in July 2026, where repayment or refinancing will be assessed closer to maturity, taking into account progress in ROG divestments. Based on sum-of-the-parts valuation, Yon values Olam at $1.35 per share or 0.7 times of P/B. This represents a 30% upside to April 23&rsquo s closing price of $1.04. The way Yon sees it, with the successful sale of Olam Agri, Olam can resume its path of de-leveraging, divestment of ROG and spinning off ofi. For later investors in Olam, the path to gains is presumably clear. For early investors, relief is in sight. In stock investing, sometimes the early bird feeds on scraps while the later bird catches the nice fat worm. Is Olam ripe for the picking?
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Joelton Supreme	25-Apr-2026 10:07        Joelton About Contact  Quote this Post!
x 0   x 0  Alert Admin	Lim and Tan shoots $1.35 target price. Is Olam ripe for the picking? Few companies are as enigmatic as food and agriculture platform Olam Group. Surviving a negative report from short-seller Muddy Waters, the company received a vote of confidence when Temasek made a voluntary general offer of $2.23 per share in 2014 which resulted in the sovereign wealth fund and concerted parties emerging with an 80% stake. Mitsubishi Corporation acquired around 20% of Olam at $2.75 per share in 2015 while Temasek pared its holdings to slightly above 50% by 2020. Since August 2014, Olam&rsquo s share price has trended down from $2.60 to below 85 cents in recent times. Along the way, it was removed from the benchmark Straits Times Index, of which it was a constituent. In January 2020, the company announced a restructuring to &ldquo unlock value&rdquo for shareholders. This involved organisational restructuring of its business units as well as divestments of businesses and assets. The company is now segmented into three units, mainly Olam Food Ingredients (ofi), Olam Agri and Rest of Olam Group (ROG). Since the announcement, the company has distributed a total of 39.5 cents in dividends from FY2020 to FY2025 (interim). The company did not declare a final dividend for FY2025, mainly for reasons of prudency according to group CEO Sunny Verghese at the company&rsquo s results briefing on Feb 27. Verghese, who co-founded the company nearly 40 years ago, will be stepping down as group CEO on April 27, but will remain as CEO of Olam Agri, one of the business units, which is being divested and in the process of being acquired by Saudi Agricultural and Livestock Investment Company (SALIC). On April 16, the company announced that it has finally obtained regulatory approvals from all necessary 21 jurisdictions for SALIC to purchase a 44.58% stake in Olam Agri. After the completion of this deal, SALIC will own 80.01% of Olam Agri and will also have the option to purchase the remaining 19.99% through a call option. With the divestment of Olam Agri, Nicholas Yon from Lim and Tan Securities thinks Olam is &ldquo now ready for harvest&rdquo . In a non-rated report issued on April 24, Yon values Olam at $1.35, citing three reasons to buy shares in the counter. The first reason for Yon&rsquo s view is the approval of the transaction with SALIC. Pointing out that the development is removing a &ldquo key overhang&rdquo , Yon states that it simplifies Olam&rsquo s structure while de-risking the balance sheet which would also prompt a re-rating of ofi and ROG&rsquo s divestment pipeline. The way Yon sees it, investors find it challenging to understand and value Olam&rsquo s business as there are multiple exceptional items reported yearly that disrupts core earnings and hence, the SALIC transaction will improve clarity for how investors can understand Olam. In addition, Yon expects the deleveraging from the deal will reduce finance costs by around $200 million. He calculates that on a pro-forma basis, net gearing for FY2024 will reduce from 2.79 times to 1.29 times on completion of the 44.58% stake and further reduce to 1.17 times on completion of the remaining 19.99% stake. The next reason for Yon&rsquo s view to buy Olam is that the company is trading at a &ldquo steep&rdquo discount of 0.57 times P/B, implying failure to deliver the restructuring story. Highlighting that Olam just sold Olam Agri at 3.5 times P/B and that the latest ROG transactions were above book value, he thinks Olam&rsquo s valuations are &ldquo unjustified&rdquo . &ldquo As such, there now represents a wide margin of safety for investors, and we think every restructuring milestone from here should narrow the discount,&rdquo he writes. Thirdly, Yon notes that management, including new ROG CEO &ldquo turnaround specialist&rdquo Gautam Wadhwa, has signalled that proceeds from ROG divestments will be returned to shareholders via special dividends. Yon expects the transactions for ARISE and Mindsprint businesses to contribute roughly 15 to 17 cents per share special dividend and their expected completion in 1H2026 and 3Q2026 to be re-rating catalysts upon distribution announcement. Yon adds a caveat, mentioning that capital allocation will depend on management&rsquo s decision regarding the perpetual securities due in July 2026, where repayment or refinancing will be assessed closer to maturity, taking into account progress in ROG divestments. Based on sum-of-the-parts valuation, Yon values Olam at $1.35 per share or 0.7 times of P/B. This represents a 30% upside to April 23&rsquo s closing price of $1.04. The way Yon sees it, with the successful sale of Olam Agri, Olam can resume its path of de-leveraging, divestment of ROG and spinning off ofi. For later investors in Olam, the path to gains is presumably clear. For early investors, relief is in sight. In stock investing, sometimes the early bird feeds on scraps while the later bird catches the nice fat worm. Is Olam ripe for the picking?
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yuhanooi Member	24-Apr-2026 21:56        yuhanooi About Contact  Quote this Post!
x 0   x 0  Alert Admin	After years of disappointment on unfulfilled grand plans, can't help but feel relieved at the exit of the top management...sigh. belugacat      ( Date: 24-Apr-2026 20:41) Posted: THREE(3) YEARS! There will be lots of catching to do because the share will go up and down as happended before, and it takes lots of guts and stress to withstand the torture. Good things are never easy! Alignment      ( Date: 24-Apr-2026 17:58) Posted: Well there are two major elements in terms of timing. First there is tranche 2 of Olam Agri which will be sold 3 years after the closing of tranche 1. So let' s call that 3.5 years from now, to be excessively safe, so late 2029. Second there is the sale/IPO of OFI. There are many reasons for the delay in this, but one big reason which management have avoided mentioning is the ramp up in working capital due to the explosion in cocoa and coffee prices. This has now fully reversed itself in cocoa and partially reversed in coffee, and we should see the benefits of this in an unwind of working capital in 2H26. Subsequently though to maximise value I would expect Olam to keep OFI for a year or two to be able to show a better financial track record during a period of more stable prices, before then selling it. So again being conservative, a sale in 2029? But my S$2.60 value is an estimate for today. I would expect that value to grow. 6% return on capital is a figure that Olam seems to think is reasonable, so S$2.60 today growing by 6% a year for 3 years is S$3.10. So, to answer your question, I think we will have to wait 3 years to get S$3.10, if management do a good job. And all the usual caveats about the assumptions i' ve made relating to valuation about which I' ve been transparent. The valuation clearly is sensitive to these assumptions, so anyone can play around with them to get a different answer
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belugacat Member	24-Apr-2026 20:41        belugacat About Contact  Quote this Post!
x 0   x 0  Alert Admin	THREE(3) YEARS! There will be lots of catching to do because the share will go up and down as happended before, and it takes lots of guts and stress to withstand the torture. Good things are never easy! Alignment      ( Date: 24-Apr-2026 17:58) Posted: Well there are two major elements in terms of timing. First there is tranche 2 of Olam Agri which will be sold 3 years after the closing of tranche 1. So let' s call that 3.5 years from now, to be excessively safe, so late 2029. Second there is the sale/IPO of OFI. There are many reasons for the delay in this, but one big reason which management have avoided mentioning is the ramp up in working capital due to the explosion in cocoa and coffee prices. This has now fully reversed itself in cocoa and partially reversed in coffee, and we should see the benefits of this in an unwind of working capital in 2H26. Subsequently though to maximise value I would expect Olam to keep OFI for a year or two to be able to show a better financial track record during a period of more stable prices, before then selling it. So again being conservative, a sale in 2029? But my S$2.60 value is an estimate for today. I would expect that value to grow. 6% return on capital is a figure that Olam seems to think is reasonable, so S$2.60 today growing by 6% a year for 3 years is S$3.10. So, to answer your question, I think we will have to wait 3 years to get S$3.10, if management do a good job. And all the usual caveats about the assumptions i' ve made relating to valuation about which I' ve been transparent. The valuation clearly is sensitive to these assumptions, so anyone can play around with them to get a different answer. belugacat      ( Date: 24-Apr-2026 13:21) Posted: At around S$2.60 a share, got to wait how long?
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tonytony Veteran	24-Apr-2026 20:10        tonytony About Contact  Quote this Post!
x 0   x 0  Alert Admin	SALIC is expected to purchase the final 19.99% stake (Tranche 2) at or before the third anniversary of the completion of the current Tranche 1 sale. This second phase of the transaction is structured through a combination of put and call options, giving both parties flexibility while ensuring an eventual full exit for Olam Group:
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Alignment Elite	24-Apr-2026 17:58        Alignment About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	Well there are two major elements in terms of timing. First there is tranche 2 of Olam Agri which will be sold 3 years after the closing of tranche 1. So let' s call that 3.5 years from now, to be excessively safe, so late 2029. Second there is the sale/IPO of OFI. There are many reasons for the delay in this, but one big reason which management have avoided mentioning is the ramp up in working capital due to the explosion in cocoa and coffee prices. This has now fully reversed itself in cocoa and partially reversed in coffee, and we should see the benefits of this in an unwind of working capital in 2H26. Subsequently though to maximise value I would expect Olam to keep OFI for a year or two to be able to show a better financial track record during a period of more stable prices, before then selling it. So again being conservative, a sale in 2029? But my S$2.60 value is an estimate for today. I would expect that value to grow. 6% return on capital is a figure that Olam seems to think is reasonable, so S$2.60 today growing by 6% a year for 3 years is S$3.10. So, to answer your question, I think we will have to wait 3 years to get S$3.10, if management do a good job. And all the usual caveats about the assumptions i' ve made relating to valuation about which I' ve been transparent. The valuation clearly is sensitive to these assumptions, so anyone can play around with them to get a different answer. belugacat      ( Date: 24-Apr-2026 13:21) Posted: At around S$2.60 a share, got to wait how long?
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Alignment Elite	24-Apr-2026 17:08        Alignment About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	Yes. In fact if cocoa and coffee prices stay as they are OFI would be able to pay a special dividend on top of the ordinary dividend from the unwind in working capital in the second half of 2026 which the CFO referred to in the results presentation.   alexvar      ( Date: 24-Apr-2026 16:30) Posted: with Olam agri and its profits gone, do you think OFi can still pay any dividends from its normal operations in 2026? Alignment      ( Date: 16-Apr-2026 16:53) Posted: Agree. When I last did my own maths I think I arrived at $2.50. Need to update my analysis.
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Boatman Master	24-Apr-2026 16:44        Boatman About Contact  Quote this Post!
x 0   x 0  Alert Admin	lets end above 1.05 today
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Boatman Master	24-Apr-2026 16:33        Boatman About Contact  Quote this Post!
x 0   x 0  Alert Admin	ok 1.03 gone liao... bye and congrats if u bought
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alexvar Senior	24-Apr-2026 16:30        alexvar About Contact  Quote this Post!
x 0   x 0  Alert Admin	with Olam agri and its profits gone, do you think OFi can still pay any dividends from its normal operations in 2026? Alignment      ( Date: 16-Apr-2026 16:53) Posted: Agree. When I last did my own maths I think I arrived at $2.50. Need to update my analysis.
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Boatman Master	24-Apr-2026 16:28        Boatman About Contact  Quote this Post!
x 0   x 0  Alert Admin	bye 1.03
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alexvar Senior	24-Apr-2026 16:26        alexvar About Contact  Quote this Post!
x 0   x 0  Alert Admin	Olam is no longer like Wilmar. Olam agri is gone to Saudia. No more palm oil, no more sugar. dydd Boatman      ( Date: 24-Apr-2026 15:44) Posted: lets go $2  Like wilmar.. olam will chiong soon
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Boatman Master	24-Apr-2026 16:25        Boatman About Contact  Quote this Post!
x 0   x 0  Alert Admin	1.03 clear soon
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