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You hv echoed this rightfully! The boss/company should be more responsible in their word to investors or at least an update in regards to what they in the press release..
Now the result is out. And there is another 4.5 months to year-end.
Let see whether the USD100 million share buyback statement in the Annual Report will happen.
If not then it is just cheap talk.
Let see whether the USD100 million share buyback statement in the Annual Report will happen.
If not then it is just cheap talk.
Golden Agri-Resources (GAR) reported earnings of US$389.6 million ($533 million) for 1HFY2022, up 154% from the previous corresponding period at US$153.2 million.
On the back of higher crude palm oil (CPO) prices, GAR' s revenue rose 23.3% to US$5.5 billion compared to US$4.45 billion recorded in 1HFY2021 while EBITDA increased by 54.5% to US$807.4 million.
Gross profit grew 29.1% y-o-y to US$1.37 billion.
Revenue from its plantations and palm oil mills segment increased by 19.7% to US$1.3 billion in 1H2022.
The average international CPO (FOB Belawan) price for the current period was 46.6% higher at US$1,595 per tonne as compared to US$1,088 per tonne in the previous corresponding period.
Consequently, EBITDA from GAR&rsquo s plantations and palm oil mills segment increased by 42.6% from US$365 million in 1H2021 to US$520.5 million in 1H2022.
Its fresh fruit bunch (FFB) and palm product output for 1H2022 were lower at 4,765,000 tonnes and 1,453,000 tonnes respectively, compared to 5,183,000 tonnes and 1,598,000 tonnes respectively in 1H2021. This was mainly due to a shift in production seasonality.
GAR&rsquo s palm, laurics and others segment reported higher revenue of US$5.4 billion with an increase in EBITDA to US$287.9 million for 1HFY2022, mainly attributable to higher average selling prices and the improved margins from its downstream business.
Sales volume for 1HFY2022 was lower due to the temporary export ban implemented by the Indonesian government in May 2022. Despite this, GAR saw an increase in EBITDA margin from 3.6% in 1H2021 to 5.3% in 1H2022.
" The latest measures taken by the Indonesian Government in July 2022 have encouraged the export of palm oil products to reduce Indonesian stock levels. GAR supports the government' s policy in safeguarding the country' s domestic requirement of cooking oil," the company said in a results statement.
As at end June, cash and cash equivalents stood at US$672.7 million. The board of directors has declared an interim dividend of 0.8 cents per share for the period.
In its outlook, the company said its operating performance will continue to be affected by the macroeconomic uncertainties. This includes the geopolitical environment the prices of CPO and competing seed oils developments in government policy on import duties and export taxes in the countries it trades in interest rates the price of fertilisers as well as weather conditions.
" Overall we believe the outlook of CPO prices remains favourable due to the tightness in global vegetable oil supply, while demand for CPO is estimated to remain firm due to staple usage for food, oleochemicals and energy sector.
" The group will continue to enhance its integrated operation capabilities to optimise profit opportunities across the value chain, apply technological innovation for yield improvement and cost efficiency, and commit to sustainability initiatives," it added.
Shares in Golden Agri closed at an unchanged 27.5 cents on August 12.
GAR, bely good result & increase in dividend.
spursfan ( Date: 12-Aug-2022 17:32) Posted:
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Golden Agri-Resources delivers a robust performance in the first half of 2022 amidst industry volatility
EBITDA1 for the first half of 2022 grew to US$807 million, whilst net profit more than doubled to US$390 million
Well sustained margins achieved across upstream and downstream business segments
The Board declares interim dividend of 0.800 Singapore cents per share ......
https://links.sgx.com/1.0.0/corporate-announcements/GTDA7SXPFOURS3WM/728257_GAR32-12-08-2022-Media%20Release.pdf
EBITDA1 for the first half of 2022 grew to US$807 million, whilst net profit more than doubled to US$390 million
Well sustained margins achieved across upstream and downstream business segments
The Board declares interim dividend of 0.800 Singapore cents per share ......
https://links.sgx.com/1.0.0/corporate-announcements/GTDA7SXPFOURS3WM/728257_GAR32-12-08-2022-Media%20Release.pdf
This management doesn' t really care abt its share price nor care abt whether its price is manipulated by BBs. Just looks at SGX daily shorting of its share vol & price for it speak by its self. The US$100m aloted for buyback to reward loyal share holders doesn' t really materializes...
FrancisLim ( Date: 08-Aug-2022 09:00) Posted:
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Trust this time in annoucing the results, mgt will keep their mouths shut and not say things that they do not mean to carry out.. like share buybacks to reward shareholders....in the last announcement.
Hi Cheery,
Thanks for the update.
Thanks for the update.
CheeryVGoh ( Date: 06-Aug-2022 13:41) Posted:
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From SGX web.
https://links.sgx.com/1.0.0/corporate-announcements/084VV1KHJXDUMPUP/f2a557ccef49c11490bc4e2c0ba4c62e2ca0bc940e3a4d1f698b2fff572afc84
https://links.sgx.com/1.0.0/corporate-announcements/084VV1KHJXDUMPUP/f2a557ccef49c11490bc4e2c0ba4c62e2ca0bc940e3a4d1f698b2fff572afc84
RexxarLoh ( Date: 05-Aug-2022 23:22) Posted:
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Golden Agri share price seems controlled by some BBs, n without share buyback from the company this counter would not move, The daily short selling volume from SGX would provide some info regarding this counter. Its a good company with reasonable good dividends, but why cant move much even with current reasonable good palm oil price.
Hi, thanks for the update and may I know where do you get the information? I can' t find it on https://www.goldenagri.com.sg/search/?q=dividend.
CheeryVGoh ( Date: 04-Aug-2022 18:15) Posted:
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Golden Agri results will be released on 12/08 after trading hours.
Div will be known then.
Div will be known then.
RexxarLoh ( Date: 04-Aug-2022 11:10) Posted:
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Hi guys, any news on any upcoming dividend distribution?
Golden Agri is still a very much control stock by the BBs. The company has stopped doing share buybacks since last quarter results.
Thank you !
Meantime we just wait for the day.
Meantime we just wait for the day.
Catrade ( Date: 08-Jul-2022 21:31) Posted:
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Gemini Edibles, Data Patterns, 8 other firms get Sebi nod to float IPOs (https://www.business-standard.com/article/markets/gemini-edibles-data-patterns-8-other-firms-to-get-sebi-nod-to-float-ipos-121112901156_1.html)
As many as 10 companies, including Gemini Edibles & Fats India, defense supplier Data Patterns (India) Ltd, and digital mapping company MapMyIndia have received markets regulator Sebi' s go-ahead
As many as 10 companies, including Gemini Edibles & Fats India, defense supplier Data Patterns (India) Ltd, and digital mapping company MapMyIndia have received markets regulator Sebi' s go-ahead to raise funds through IPOs.
The other firms that received the approval to float the initial public offerings (IPOs) are -- AGS Transact Technologies, Electronics Mart India, India1 Payments, Healthium Medtech, VLCC Health Care, Metro Brands, and Godavari Biorefineries.
These 10 companies, which filed their preliminary IPO papers with Sebi between August and September, obtained observations letter from the regulator during November 22-26, an update with the markets watchdog showed on Monday. In Sebi parlance, the issuance of an observations letter implies its go-ahead for the IPO.
CheeryVGoh ( Date: 08-Jul-2022 16:54) Posted:
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All regulatory approval cleared?
Catrade ( Date: 08-Jul-2022 15:59) Posted:
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Yes, Hopefully it will list v soon in the India stock market since all the regulatory approval from the India Exchange r cleared ...
CheeryVGoh ( Date: 08-Jul-2022 15:22) Posted:
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Hope the Co management does share buyback... to show that it means what it said and
not hot air and cheap talk...
not hot air and cheap talk...
Gemini listing anytime soon?
Catrade ( Date: 08-Jul-2022 11:50) Posted:
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