BLD plantation listed on 2003. It has > 50K hectares land and planted more 20K hectares so far. More than half of the planted tree are still yet to reach mature age. I would expect upcoming 2-3 years, BLD plantation will gradually produce more crop.
The NTA value is stand as RM3.92 and current share price is RM2.29. The estimated ratio of planted area (in hectares) /No. of issued share (in million unit) = 22000 (hectares) /85 (million unit) => 259 which current price at RM 2.29
This is consider much higher than big cap plantation company like Asiatic, PPBOil, IJM plantation, KL Kepong.
PPBOil = 86627/445 => 194 which current price at RM 8.50
IJMPlantation = 24607/504 =>48.8 price at RM1.62
Q1'06 Crop production
Crude Palm oil 18381
Palm Kernel 4014
Q2'06 Crop production
Crude Palm Oil 19969
Palm Kernel 4485
Q3'06 Crop proction
Crude Palm Oil 24253
Palm Kernel 5648
Of course market share price of plantation company depend on many factors : management team, dividend policy, company financial status, cash flow, share liquidity etc.
I am using above ratio to show there is huge potential continue to grow the revenue and profit in coming years.
I will come back to review the counter on next quarter result (early Dec).
Q3 production is 25% more than Q2.
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