Showing posts with label QL(全利). Show all posts
分析员：盈利持续稳固 全利印越业务明年起赚钱
（吉隆坡13日讯）侨丰投资研究分析员预测，全利资源（QL，7084，主板消费产品股）将继续交出稳固的盈利表现，在积极开拓东协市场之际，企业巨擘逐渐成形。
此外，分析员也预测，全利资源在印尼和越南业务，将在2013财年做出贡献。
分析员表示，全利资源在这些年来，不但成功把原来家禽饲料贸易，转型至海产和鸡蛋生产的主要业者，同时也多元化业务，并积极开拓新市场。
“我们相信，印尼和越南拓展计划进度理想，我们预料该市场会在2013财年开始贡献盈利。”
全利资源股价随着业务发展蓬勃不断跃升，印尼厂房提高产能消息传出后，股价再次受到激励。
支撑未来赚幅
稍早前，集团宣布提高位于印尼泗水蟹柳和鱼浆生产厂房的产量额外5000吨，料2012财年整体鱼浆产量可达1万吨。
分析员认为，集团在现在提高印尼厂房产能是合事宜的，因为当地人工低，加上原料供应来源丰富，可借此提高赚幅。
与此同时，鉴于鱼浆是基本食材，所以无论经济环境如何，需求量始终保持稳定，分析员也就此认为全利资源未来前景光明。
“加上集团在印尼和越南投资，相信该国大量的人口，可支持设下的未来赚幅目标。”
综合家禽农场潜能大
至于印尼和越南的综合家禽农场业务，分析员认为仍有很大的进步空间和潜能，目前表现也强劲。
除了海产和鸡蛋生产外，全利资源分别在沙巴和印尼拥有1200英亩和2万英亩种植地，位于加里曼丹的原棕油厂房在2012年2月份投产，目前共有31厂房。
集团为了多元化收入，集团将把原棕油厂房的排放物转为再生能源，同时，也在研究把棕油肥料提炼成能源。
分析员表示：“全利资源积极开拓市场以及多元化收入来源，加上最近股价有所调整，我们认为现在是买入此股的好机会，集团也是我们2012年的首选股之一。”
双武隆才子富豪 谢松坤创业报恩 (大马超级富豪NO.24)
谢松坤不讳言，全利资源（QL，7084，主板消费产品股）是家族企业。谢松坤创立全利资源，助家人摆脱渔人的艰苦生活。谢松坤在学院教书教了10年，近40岁时领着两个家族——自己的兄弟及太太的兄弟，创办了全利资源。
创立全利资源，为的是让家人摆脱渔人的艰苦生活以及改善渔村的生活，同时也想借此好好自我表现，生意从制造贝壳粉和鱼粉（家禽家畜饲料）做起。
今天的全利资源，已发展成市值27亿令吉的大马主板上市公司，而谢松坤也是“南洋富豪榜”排位第24位的富豪。
谢松坤在拥有15名兄弟姐妹的渔民家庭长大。幼时家境清苦，家人为了让排行第三的他继续升学，必须辛劳筹足学费和生活费，两名弟弟甚至牺牲了升学机会。
家人为谢松坤牺牲，激起了他想报答家人的培育之恩及改善家人生活决心，造就了今天的全利资源。
QL to grow 3 core areas regionally
QL Resources Bhd’s managing director Chia Song Kun shares his views and outlook on the year ahead with The Edge Financial Daily in this interview.
TEFD: What are your expectations for 2012, for your company and your industry?
Chia: We expect 2012 to be particularly challenging for the world economy. Malaysia’s economic performance projections are declining, triggered by the deepening eurozone debt crisis and possible double dip recession in the US. Domestic demand is expected to remain resilient but the weakening global environment is certainly a cause for concern.
QL Resources is fortunately operating in the basic food industry (fisheries, poultry livestock and oil palm), and is therefore less exposed to economic downturn than companies operating in other sectors. Demand for basic food such as eggs and fish products was quite stable during past economic downturns. We believe demand for our basic food products in 2012 will follow this pattern of resilience. Moreover, new contributions from our regional expansion are likely to mitigate any incoming negative effects in the year ahead.
| Chia: Our group’s diversification reduces its exposure to European belt tightening. |
The European sovereign debt crisis looks increasingly bleak. If the situation worsens, certain countries could drop out of the eurozone, or — worst case — the entire eurozone could break up leading to a currency collapse.
What will happen after that is being widely speculated and none of the scenarios I have seen mapped out looks fine. This crisis is complex and involves unpalatable choices for the sovereign nations involved. However, I am confident that an accord will be reached and the eurozone will move back from the brink.
In terms of the direct impact of current crisis on QL Resources, I am pleased to say that our group’s diversification reduces its exposure to European belt tightening. If the situation worsens, we anticipate a lower demand for food items such as palm oil. However, the effects of this are offset by a reduction in the cost of commodities, including raw farm materials such as corn and soyabean meal, which in turn lower the input cost of our integrated livestock farming.
Will Bank Negara Malaysia’s recent tightening of consumer borrowing have an impact?
There is little concern that BNM’s introduction of new lending rules will impact the company’s performance. The low-cost, commodity-based nature of our products ensures a steady high demand at prices which, when and if they fluctuate, do so at marginal levels. We believe BNM’s new rules may dampen demand for those products considered discretionary such as clothing and holiday deals, as well as for big-ticket household items like vehicles.
Overall, we feel BNM’s move to encourage responsible consumer borrowing is a positive measure for the country.
What are the company’s plans and focus for 2012?
Our focus for 2012 is to continue to grow our three core activities domestically and through regional expansion. I will give a breakdown of the plans by division:
Tag :
QL(全利)
日圓走強‧日資收購延燒‧安裕東方全利成目標
2011-08-03 12:28
（吉隆坡2日訊）近期日資對馬股大感興趣，向國內企業展開不少收購及直接投資計劃，大華顯繼研究認為這股趨勢將獲得延續，並預計接下來潛在的收購目標還包括安裕資源（ANNJOO,6556,主板工業產品組）、東方（E&O,3417,主板產業組）及全利資源（QL,7084,主板消費品組）。
同時，獲日本物流公司NYK入股的泛亞物流（TASCO,5140,主板貿服組）也從中受惠。
該行指出，來自日本的海外直接投資增加，主要受惠於日圓走勢強勁、當地的前景欠佳，加上在地震發生後，需要多元化業務據點。
大華顯繼表示，從2009年1月至今年7月，日本企業在亞洲新興市場共展開513項併購活動，總值142億美元，尤其是在印度、中國、大馬及印尼。
去年流入日資暴漲537%
去年流入大馬的日本資金暴漲537%，比較東南亞平均只有109.1%。以國家或地區計，日本佔大馬淨海外直接投資超過12%，並佔國內的34%併購交易。
在亞洲新興市場，日資正放眼鋼鐵、消費、金融及能源領域。至於大馬，日資主要涉及的領域則包括金融、消費及保健業。
大華顯繼預期接下來在重型工業的參與度會更顯著，特別是大馬能提供物流及能源成本優勢。過去數年日資在大馬的收購計劃大增，顯示前者對國內公司充滿興趣，透過策略性股權持有不同領域的公司。
“這與20年前的情況有所不同，即大部份日本企業僅對電子及電器相關領域感興趣。”
日資願付高溢價獲控制權
該行也提到，日資願意付出更高的溢價以取得國內企業的控制權，如最近日本最大啤酒公司朝日集團（A S A H I）以8億2千萬令吉，收購合成實業（CIHLDG,2828,主板消費品組）旗下百事可樂瓶裝業務Permanis公司的100%股權，相等於10.7倍股價賬面值。
較早前三井物產株式會社（MITSUI&CO）也以23億令吉，向國庫控股旗下綜合保健控股的30%股權。
大華顯繼強調，受日資青睞的公司主要擁有幾項條件，即與國內或區域消費相關、是區域重要的價值鏈及那些已和日本企業交易的公司。
“這顯示特定的金融、消費及鋼鐵公司是潛在的收購對象，其中國內鋼鐵業更擁有重要的分銷據點，並獲得巴西淡水河谷及Acerinox-Nisshin聯營支持。前者將承建鐵礦石廠房，而後者作為西班牙及日本聯營合作，則將打造亞洲最大的不銹鋼廠房。（星洲日報／財經）
Comm
Tag :
QL(全利)
全利資源攻農基優勢大‧謝松坤穩中求勝守江山
提起農基事業，給人一種穩定的感覺，無論經濟高低潮，都因基本需求支撐，能夠在市場中站穩住腳。
然而，談起農基業，總令人想起全利資源（QL, 7084, 主板消費品組），其農基事業像不間斷的快板，10年間，“身價”自當年微不足道的1億令吉，躍升至今天高達26億令吉。
全利資源今天的成就，董事經理謝松坤絕對功不可沒，從毛頭小子到今天的企業大亨，他的成功秘訣除“全利”的企業精神，還有傳統華人創業家眼中的“穩中求勝”；今天，《投資致富》帶你步入謝松坤農基事業的城堡，看他如何用素直樸真，穩穩開創江山。
奉行內部成長
併購壯大
併購壯大
近年，全利資源突然成了許多分析員鎂光燈的聚焦，不僅因積極的併購與拓展大計，也因那亮麗的“成績單”。
望著這含辛茹苦的碩果，一頭銀髮梳得油亮整齊的謝松坤，溫雅教授氣質中卻不失將軍的戰略思考，他顯然不是“規模”的盲目信徒，但依然相信，內部與併購都是公司長期的成長策略。
“公司不時物色能夠壯大的良機，只要能夠創造協力效益的資產，都會抱持開放態度，但放眼目標不離熟悉的行業：海產、畜牧與棕油三大核心業務。”
全利資源去年收購麗鴻（LAYHONG, 9385, 主板消費品組）的23%股權，也在持有保綠美的40.51%股權後，讓該公司在今年上市創業板，變身為馬股的“新明星”――保綠美（BOILERM, 0168, 創業板工業產品組）。
專注印尼越南
資本開銷5億
資本開銷5億
近期，全利資源也大事在印尼與越南擴展業務藍圖，未來兩年資本開銷更估計達5億令吉，但這龐大投資，預計至2013財政年才能看到實質碩果。
謝松坤坦言，公司目前100%的盈利來自本土業務，而2007與2010年分別進軍印尼棕油與越南海產、畜牧市場，其實是在為另10年舖路。
“印尼與越南市場的成長潛力是大馬市場的10倍，資源豐富、經濟趨穩、成長空間龐大，都是全利放眼印尼與越南市場的原因。”
他因而相信，海外業務的動力前景可期，但海外業務或需至2013財政年才帶來實質盈利，並帶來超過10%的盈利貢獻。
他坦承，因需投入大量資金，使得進軍海外市場具一定的風險，去年的總投資超過2億令吉，一半以上已投入印尼業務。
行事作風穩扎穩打的謝松坤強調，由於印尼與越南市場龐大，目前未放眼其他海外市場，未來會專注這兩大東盟市場，5至10年逐步提高海外業務的貢獻。
他以印尼雞蛋消耗量分享，大馬一個人平均一年的雞蛋消耗量達300顆，但印尼平均只有60顆，大馬的雞蛋消耗量是印尼的5倍，顯示印尼市場的雞蛋滲透率仍低，而在該國經濟與消費力抬頭下，雞蛋需求可期。
投入熟悉行業
遊刃有餘
遊刃有餘
經濟外圍不明朗因素一波接一波，通貨膨脹的魔爪向亞洲各國肆虐，大馬6月通膨率續惡化，自5月的3.30%升溫至27個月高點3.50%，各行各業再度啟動“備戰”武器，以免經濟打擊業務士氣。
面對前路的挑戰，謝松坤卻沒有絲毫畏懼，反問：“經濟不好時，你認為，民眾會不會少吃一粒蛋？”。
他的答案是不會，因為農基食品是必需品，這“必需”的元素彷彿令農基食品擁有與生俱來的優勢，讓業務在經濟高低潮中都能表現平穩。
“食品業為公司帶來安全感，相對其他領域，不易受金融危機動搖。”
堅持穩中求勝的他，直言當初經營這3項核心業務：海產、畜牧與棕油，除基於出生地的機緣，也為多元化業務的風險。
3核心業務互補
多元化分散風險
多元化分散風險
“魚類加工、種植與畜牧都是自己熟悉的行業，3大行業的穩定性不同，也具‘互補性’。”他認為，每項單一業務都將經歷高低潮，而多元化業務可助於分散風險。
為進一步擴大業務的“穩定性”，他也致力延伸業務的產業鏈價值，如儘量涉足上下游業務。他以魚加工品為例，賣的不僅是魚加工品，還有魚醬、魚餅等。
他進一步分析3大領域的不同屬性與挑戰，“多元化市場，意味需藉創意來開發新市場，因此，創意絕對是經商不可或缺的因素。”
他說，海產業雖為全利專長，也是別人難以競爭的領域，讓業務有利可圖，惟供應問題卻是最大挑戰。
“隨需求量節節上升，公司有必要加倍生產，惟天氣可能影響漁產，資源短缺限制供應鏈，因此，需要不斷開創新點並擴大價值鏈，以突破供應能力的侷限。”
他也提到，日本311地震後，當地海產受輻射影響，加上日本人的消費力走低，促使日本也轉向購買低檔魚醬，並與原購買低檔魚醬的中國和韓國掀起搶購潮，這間接導致高檔魚醬供應過剩，與低檔魚醬的差價也逐漸收窄。
全利資源的海產部包括深海魚場和魚醬生產，廠房分布在大馬的霹靂、柔佛和沙巴，以及印尼，值得一提的是，該公司是亞洲最大的魚醬產品生產商。
至於需求量亦日益增加的畜牧業，他談到，畜牧業的市場很大，成長步伐也很快，但疾病傳染難免引發領域的震盪，這就是畜牧最大的風險因素。
他補充，畜牧業的競爭日益激烈，也是領域挑戰之一。
“只要能夠掌握創新技術，也可推動業務的迅速增長。”
針對大馬雞蛋市場的飽和情況，他坦言，即使今天的雞蛋產量，已自公司創立時的30萬粒增9倍到今天的270萬粒，但相信平台依然很大，重要的是，公司必須開拓週邊市場，以把握更多成長潛力。
由於全利的棕油主要涉足下游業，導致盈利貢獻不多，惟隨印尼棕油地的發展漸成氣候，謝松坤預計1至2年後，棕油佔業務盈利的比重，自現有的15%，提高到20〜30%。
目前，畜牧佔全利業務盈利比重最高，達50%，海產業以40〜45%居次，其餘來自棕油。
謝松坤指出，棕油業務，顯然沒有海產與畜牧面臨的問題，不用擔心出售程序，且管理簡單，可是，氣候與棕油價高低起伏卻左右業務前景。
他以去年棕油走勢解釋，帶來強勁雨量的拉尼娜（La Nina）現象足以影響棕油的收成。
該公司的畜牧園現遍佈吉打、雪蘭莪、森美蘭、沙巴、砂拉越，甚至印尼與越南，同時在加里曼丹和沙巴，持有面積各達1千200與2萬公頃油棕種植地。
不圖短利
走得更遠
走得更遠
追求高利，一直是許多企業追趕的目標，但對於堅持一步一腳印，默默耕耘以取得成果的謝松坤，“利”其實是根懸在驢子眼前的胡蘿蔔，企業不僅應看得更長遠，也應在業務趨成熟時，接受成長腳步放慢的道理。
謝松坤直言，業務模式具互補作用與產業鏈不斷延伸雙管齊下，要保住業務10至15%的雙位數成長，其實並非大問題。
“這3個領域的需求穩定，即使通膨大行其道，外圍經濟不明朗，都不至於阻礙業務前進，但當一家企業不斷成長後，基礎也一直在擴大，這也是業務趨向保守的時候。”
他認為，一家公司會經歷不同階段的成長，當企業壯大到一定程度時，其實，要求更高的雙位數成長是很大的挑戰，此時，調低成長目標反而是合理的。
“新平台之下，我覺得未來放慢一些腳步是可以接受的，目標已非追求超過20%的更高成長，而是保持較低的成長水平，這是自然的階段，當然，慢也只是慢一點，不能太慢。”
他直言，過度追求高成長，反而會帶來負面後果，就像爆發的金融風暴，即是盲目追逐數字的結果。
他以業務貸款為例，當業務已趨成熟時，反而應儘量降低借貸率至較舒適的水平，儘管如此，他強調，公司從不向現有股東要錢，即使未來可能選擇向現有股東發憑單，也將讓他們能夠選擇性地參與。
全利在2007與2010年間，營業額自11億2千萬令吉，增32%到14億8千萬令吉；淨利從6千325萬令吉，大起69%到1億零691萬令吉。
1億變26億
二板升主板
二板升主板
謝松坤出生在漁民家族，30年前，他以堅強毅力挑起事業的重擔，創業初期，只是傳統小規模的業務，因資本不多，初時只能自附近的海邊收集貝殼，之後再出售予畜牧業的飼料廠。
由於誠懇打拼與見解獨道，公司自1987年創立後一直表現卓越，於2000年在馬股上市時，首次發股的市值只有1億令吉，初期以二板的身份上市，之後才晉升主板，今天的身價更突破26億2千萬令吉。
“這些都是熟悉的領域，必須以不同的方式進行，我也從未想過全利今天的規模。”他相信，公司接下來的競爭優勢包括複製區域的核心業務，管理策略、執行與創新力。
兼顧企業社會責任
除追逐盈利的道路，謝松坤對企業社會責任也有另一番見解，並試圖在企業不斷探試成長極限，社會價值不斷流失的年代，靜靜修煉一顆素質的心，平衡盈利與各方的關係。
“‘全利’，言下之意是，全部人都贏！”他娓娓道來，細看下，不但沒有攻城掠地的殺氣，也沒有嚴謹肅穆的領導風格。
他認為，牟利需顧及多方，包括工人、股東、社會，成功的企業，應平衡之間的關係，當然，要達到該目標，並非輕而易舉的事。
或許，因為曾經當過大學教授，在他眼裡，無論在人性、理念還是哲理上，都不能只向“利”鑽。
不可只為股東賺錢
背後卻剝削員工
背後卻剝削員工
“其實，能夠把握5至10%的獲利度已經很滿足，牟利不應單方面，若只有為股東賺錢，背後卻在剝削員工，這樣的做法說不過去。”
因此，對於企業社會責任，謝松坤也堅持與一般企業走不一樣的路，即致力讓企業社會責任與商業策略結合，再讓價值轉為行動。
他認為，企業責任應該不侷限在捐款之類的公益，而是業務策略的一部份，創造和自身領域相關的價值。
他以公司的零廢料再生能源計劃與提供漁民的免息貸款分享，積極推廣企業社會責任，讓公司間接取得令股東滿意的股東回酬。
他以漁民的免息貸款進一步解釋，公司需向漁民買魚，但漁民因銀行不願放貸，漁船設備欠佳、補魚品質差，所以借錢給漁民，不僅能夠提昇漁民生活品質並推動漁村貢獻，最終也能讓領域受惠，達到互惠互利的關係。
結語：
金融風暴爆發的時候，引發了企業盲目追逐高利的省思，今天的全利資源，能夠適時對“高利”鬆開手，沒有一絲怨尤，但求以“穩中求勝”來守住江山，其實，已一箭命中許多決策者的腦袋。（星洲日報／投資致富‧企業紅人館）
全利资源未来数月展望看好 放眼明年净利破亿
2009/11/24 5:54:55 PM
●南洋商报
（莎阿南24日讯）全利资源（QL，7084，主板消费产品股）放眼接下来数月的展望将会顺利，并预估在2010财年将取得介于1亿零600万至1亿1000万令吉的税后盈利。全利资源董事经理谢松坤指出，该公司在今年首半年取得了5300万令吉的税后盈利，如根据往常数据并以季节指数计算，预计该公司在截至3月止的2010财年的税后盈利，将达到介于1亿零600万至1亿1000万令吉。
“如果预计集团今年的税后盈利将达到上述预测，那意味着将较2009财年增长18%。” 他是在今日出席全利资源的股东特别大会后，向记者作出上述表示。 谢松坤披露，该集团将会在接下来的2至3年，每年拨出1亿5000万令吉作为营运资本开销，积极扩展国内外的3大核心业务，即海产制造（MPM）、综合家禽（ILF），以及棕油活动（POA）。他回应：“资本开销的资金主要会透过内部融资，其余则会通过银行贷款来融资。”
该集团计划在印尼设立的海产制造产房，计划会在2010财年开始进行建筑工程，预计耗时5或6个月，该厂房料会在2012财年开始为集团带来盈利贡献。在油棕种植方面，该公司现已种植了1万5000公顷的土地，预估会在2010财年初开始投产，而料在2012及2013财年可为公司作出显著的贡献。他披露：“现有原棕油价格走高至每公吨2500令吉，将有助于推高种植业务的盈利贡献，期望接下来原棕油价格将保持介于2000至2400令吉水平。”
开拓再生燃料业务
此外，全利资源也将会在2011财年内，设立首间油棕棵粒（Palm Palette）厂房，并将其商业化，但至于正确的日期仍未敲定，谢松坤有信心该厂房将会成为国内有关领域的首间油棕棵粒厂房。
他说：“我们也获得了科学、工艺即革新部（MOSTI）颁发总值466万令吉的津贴，以作为相关厂房商业化的前置作业。” 在上述计划下，全利资源主要是将油棕空果串（EFB）研发成棵粒，以作为再生燃料。另一方面，在今日的股东特别大会上，全利资源获得了股东一致通过，以5送1的方式，发送高达6600万股红股，每股面值0.50令吉
Tag :
QL(全利)
QL Resources confident palm pellet plant up by 2011
PETALING JAYA: QL Resources Bhd is confident its palm pellet project, a biomass energy initiative, will materialise by 2011, says managing director Chia Song Kun. “We are on track to commercialise and build commercial plants for this project and confident that it will happen during our next financial year (ending March 2011),” he said after the company EGM on Tuesday. So far, QL is the only company with palm pelletising technology which has patented the technology. “I believe this plant will be the first of its kind in Malaysia,” Chia said but did not elaborate on the financial information of the business.
Meanwhile, the company was anticipating its FY10 net profit at between RM106mil and RM110mil based on annualised estimates, he said. He also expected “normal” performance for three of its core business activities over the next few months. “The early arrival of the monsoon season has affected our East Coast fishing operations in Endau and Kota Kinabalu. While the weather has affected fishing activities and led to a shortage of fish, it also mean an increase in consumption of eggs,” he said.
QL is involved in distributing animal feed raw materials and producing poultry eggs. It is also involved in livestock farming and deep-sea fishing as well as crude palm oil milling and oil palm cultivation. “We are growing our marine market through our frozen products to move into more remote areas like Bentong where the shelf live is longer. This range of products is also growing very fast overseas,” Chia said.
He added that the company would allocate about RM150mil each year for its overseas and local expansion plans and the amount would be generated via internal funds and bank borrowings.
“With the aggressive expansion in all our core businesses, conservatively we are looking at spending RM150mil over the next two to three years,” he said.
Meanwhile, its net profit for the three months ended Sept 30 rose 3.4% to RM26.05mil while its revenue declined to RM337.17mil from RM391.62mil previously.
Earnings per share improved to 7.97 sen from 7.66 sen.
In a filing with Bursa Malaysia, the company said only its marine product manufacturing division managed to show improvement year-on-year.
“Sales increased for the marine product division due to higher contribution from fishmeal and deep sea fishing activities,” it said, adding that its palm oil activities declined due to lower crude palm oil prices and prolonged low crop.
Tag :
QL(全利)
QL allocates RM280m capex for FY10-FY11
| Written by Chong Jin Hun |
| Monday, 01 June 2009 10:52 |
| SHAH ALAM: Food-based QL Resources Bhd has earmarked RM280 million as capital expenditure (capex) for its current fiscal year and the next, deemed pivotal to spur its regional merger and acquisition (M&A) plans, and to improve its manufacturing facilities. Some RM130 million and RM150 million are allocated for the financial years (FY) ending March 2010 and 2011, respectively. To be financed via internal funds and bank loans, the capex will facilitate the expansion of its marine products manufacturing, integrated livestock farming and oil palm operations. “We think these three segments have a lot of room to grow, and we are looking at acquisitions more aggressively. “Innovation is a core value of QL,” its managing director Chia Song Kun told The Edge Financial Daily. QL had allocated about RM160 milllion for FY09 capex. Its marine products division involves deep-sea fishing and production of surimi or fish paste. With three marine products factories across Malaysia — in Perak, Johor and Sabah — QL also makes surimi-based products such as fish balls, besides fish and poultry feed. It is also engaged in poultry farming with broiler, breeder and layer operations in Kedah, Selangor, Negri Sembilan, Sabah and  Chia Broilers are bred for meat, and breeders and layers for their eggs for hatching and consumption, respectively. QL’s chicken farms can produce some 2.1 million eggs a day. QL is also the owner of some 1,200ha of oil palm plantation in Sabah, and another 20,000ha in Kalimantan, Indonesia. The firm’s planned surimi factory in Surabaya, Indonesia, is on track. Chia said QL was in the midst of finalising land conversion with the Indonesian authorities, and upon approval, construction of the plant would take about one-and-a-half years to complete. Chia said the project’s initial phase involved a minimum investment of US$8 million (RM28 million) which will be financed via internal funds. Meanwhile, QL is still studying the feasibility of operating chicken farms in Vietnam, an initiative which may involve a capital outlay of up to RM40 million. The company is monitoring industry dynamics in the Indochina country where per capita consumption of eggs is deemed small. At the same time, it is also worth noting that Vietnam is a key destination for eggs from neighbouring China. “We take this opportunity of the economic slowdown to have a second review of the market,” said Chia whose stewardship had seen QL growing into a billion-ringgit business. QL’s financials in the fourth quarter ended March 2009 fell on an annual and quarterly basis. Net profit fell 10.6% to RM18.84 million from RM21.07 million a year earlier, while revenue dipped 3.8% to RM319.21 million from RM331.88 million. Revenue from its marine products and livestock units rose by an annual pace of 10% and 9% respectively, while its oil palm operations topline fell 41%. However, full-year net profit expanded 10.6% to RM89.33 million from RM80.8 million a year earlier while revenue climbed 6.9% to RM1.4 billion from RM1.31 billion. In quarterly terms, net profit fell 20.7% from RM23.76 million while revenue declined 1% from RM322.58 million due to seasonal factors which had curbed earnings from the marine products, and oil palm operations. QL has earned a place in analysts’ good books despite the lower quarterly results. “We like QL for its proven management, strong profit track record, and consistently high return on equity. In a recessionary economy, QL stands out for its defensive earnings qualities due to the inelasticity of consumer demand for staple food items,” Hong Leong Investment Bank Bhd analyst Jason Saw Koon Khim wrote in a note. Hong Leong, however, lowered QL’s FY10 and FY11 earnings per share estimates by between 3% and 4%, taking into account the delay in starting up the Surabaya surimi plant, and excluding farming contribution from Vietnam. The research house, however, maintained its buy call on QL with a fair value of RM3. OSK Research Sdn Bhd analyst Law Mei Chi, meanwhile, raised the target price for QL shares by 11 % to RM3.68 from RM3.32 with a buy call. It maintained its FY10 earnings forecast for the company. QL rose four sen or 1.49% to RM2.72 last Friday, with 55,500 shares traded. The stock has gained 15.74% so far this year, compared with the Kuala Lumpur Composite Index’s 19.09% rise. This article appeared in The Edge Financial Daily, June 1, 2009. |
Tag :
QL(全利)
QL Resources to set up seafood plant in Indonesia
By YVONNE TAN
QL Resources Bhd, the biggest seafood producer in the country, will open its first food processing plant overseas in Surabaya, Indonesia, which will boost its production by at least 25%.Construction of the RM25mil surimi (fish paste) plant is expected to start by year-end for completion by the first quarter of 2010, said managing director Chia Song Kun.The company currently generates about 20,000 tonnes of surimi annually, which is mainly exported to countries likes Singapore, Japan and South Korea.As much as 37%, or RM100mil, of QL’s marine segment revenue for financial year (FY) ended March 31 came from the sales of surimi.QL has three main businesses – marine, which made up of sales of semi-processed raw fish products (surimi) fish meal and other fish-based food products; feed commodities and livestock farming; and oil palm milling and plantations. For FY08, the three segments contributed 21%, 56% and 23% respectively to the company’s overall revenue.
Chia is confident QL will be able to meet analysts’ projection of a 15% to 20% growth in net profit in FY09, backed by higher prices of surimi, among other things.According to him, surimi currently sold for an average of RM10,000 per tonne globally. “Prices have risen 30% to 50% over the past two years,” he said, adding that he expected prices to remain firm this year.QL has three plants manufacturing fish products locally. “Plans are also underway for another plant to be set up in Sarawak. In this business, demand is always more than supply,” he said.As for its other operations, Chia said plans for an egg production farm in Vietnam was on track. “There is a potential for this business in Vietnam as the market is big and profit margins are attractive.”QL also has 3,000 acres of oil palm estates in Sabah and about 20,000ha in eastern Kalimantan, which should be completely planted by 2011.For FY08, it posted a higher net profit of RM80.8mil, or 36.71 sen per share, on sales of RM1.3bil against a net profit of RM63.2mil, or 28.75 sen per share, on sales of RM1.1bil a year earlier.OSK Research cited softer prices of crude palm oil and higher fuel price affecting QL’s shipping operations as potential risks to the company’s earnings.
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QL(全利)
QL CEO comments about the company outlook in Annual Report 2008
Outlook for Marine Product Manufacturing Activities (MPM)
MPM operations achieved a higher profit of RM39 million (up 16%) against revenue of RM273
million (up 11%). The improvements are mainly due to higher contribution from surimi-based
products and higher surimi prices.
In order to further improve our earnings and operational efficiency, we are allocating about
RM100 million over the next two years mainly to upgrade factory operations, conversion to
biomass plant, and building deep sea vessels. We have also put in place plan for expansion
into nearby regional countries.
The recent increase in diesel prices has increased the cost of doing business but with
rebates, the industry remains competitive compared to our neighbouring countries and we
are confident of maintaining our margins.’
Outlook for Integrated Livestock Farming (ILF)
ILF operations achieved a profit of RM47 million (up 37%) against revenue of RM732 million (up
11%). The improvements are mainly due to better margins from farm produced and raw
material trade.
In the midst of escalating cost, this division has proved its resilience by passing on costs and
maintaining its margin and it also shows its growth potential.
In these challenging times, we view the current economic climate as opportunity rather than
threat especially so with many weaker players facing working capital constraints and
inefficiencies. The industry is currently ripe for consolidation and rationalisation. There are
many opportunities for acquisition.
We have recently acquired Heap Loong Poultry Farm Sdn Bhd (based in Kulim, Kedah), a
poultry egg producer with output of 330,000 eggs per day. With this acquisition, total group
egg production is about 2 million eggs per day.
For the next two years, we have budgeted capital expenditures of RM120 million for ILF
activities. We are looking at increasing our production capacity in integrated farming involving
breeder farm, feedmilling and broiler farming in East Malaysia.
Our integrated farming project in Tay Ninh, near Ho Chi Minh, Vietnam has also received
clearance from from relevant authorities. We are working forwards duplicating our ILF activities in Vietnam.
Outlook for Palm Oil Activities (POA)
POA Activities achieved a profit of RM10 million (up 6%) against revenue of RM 302 million (up
40%). 2008 has not been a good year due to milling margins continuing to be squeezed by
lower OER (Oil Extraction Rate) due to exceptionally high rainfall in East Malaysia as well as
competition for FFB supplies.
With only two CPO mills and 3,000 acres (of various maturity) all these years, the contribution
is mainly from CPO milling. However, on the brighter side, going forward, the 3,000 acres of
our own plantation should be fully mature and expect to give significant contribution in 2009
given the current high price of CPO.
Our Indonesia Oil Palm plantation is currently developing very smoothly. We have already
planted 7,000 acres as at 30th June 2008 and our current planting program is about 10,000
acres per year and by 31st March 2011, we should have completed planting 35,000 acres of
plantable areas. With this planting program, we see significant contribution from this division
in financial year ending 31st March 2012.
Also in this division, we are looking actively on how to unlock and create further value in the
area of palm biomass.
MPM operations achieved a higher profit of RM39 million (up 16%) against revenue of RM273
million (up 11%). The improvements are mainly due to higher contribution from surimi-based
products and higher surimi prices.
In order to further improve our earnings and operational efficiency, we are allocating about
RM100 million over the next two years mainly to upgrade factory operations, conversion to
biomass plant, and building deep sea vessels. We have also put in place plan for expansion
into nearby regional countries.
The recent increase in diesel prices has increased the cost of doing business but with
rebates, the industry remains competitive compared to our neighbouring countries and we
are confident of maintaining our margins.’
Outlook for Integrated Livestock Farming (ILF)
ILF operations achieved a profit of RM47 million (up 37%) against revenue of RM732 million (up
11%). The improvements are mainly due to better margins from farm produced and raw
material trade.
In the midst of escalating cost, this division has proved its resilience by passing on costs and
maintaining its margin and it also shows its growth potential.
In these challenging times, we view the current economic climate as opportunity rather than
threat especially so with many weaker players facing working capital constraints and
inefficiencies. The industry is currently ripe for consolidation and rationalisation. There are
many opportunities for acquisition.
We have recently acquired Heap Loong Poultry Farm Sdn Bhd (based in Kulim, Kedah), a
poultry egg producer with output of 330,000 eggs per day. With this acquisition, total group
egg production is about 2 million eggs per day.
For the next two years, we have budgeted capital expenditures of RM120 million for ILF
activities. We are looking at increasing our production capacity in integrated farming involving
breeder farm, feedmilling and broiler farming in East Malaysia.
Our integrated farming project in Tay Ninh, near Ho Chi Minh, Vietnam has also received
clearance from from relevant authorities. We are working forwards duplicating our ILF activities in Vietnam.
Outlook for Palm Oil Activities (POA)
POA Activities achieved a profit of RM10 million (up 6%) against revenue of RM 302 million (up
40%). 2008 has not been a good year due to milling margins continuing to be squeezed by
lower OER (Oil Extraction Rate) due to exceptionally high rainfall in East Malaysia as well as
competition for FFB supplies.
With only two CPO mills and 3,000 acres (of various maturity) all these years, the contribution
is mainly from CPO milling. However, on the brighter side, going forward, the 3,000 acres of
our own plantation should be fully mature and expect to give significant contribution in 2009
given the current high price of CPO.
Our Indonesia Oil Palm plantation is currently developing very smoothly. We have already
planted 7,000 acres as at 30th June 2008 and our current planting program is about 10,000
acres per year and by 31st March 2011, we should have completed planting 35,000 acres of
plantable areas. With this planting program, we see significant contribution from this division
in financial year ending 31st March 2012.
Also in this division, we are looking actively on how to unlock and create further value in the
area of palm biomass.
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Tag :
QL(全利)
QL: 东盟表现最佳消费产品股 全利资源目标价或上调
东盟表现最佳消费产品股 全利资源目标价或上调 (Kwong Wah e-Newspaper)
二零零八年五月十六日 晚上六时四十三分
（吉隆坡16日讯）自2007年3月开始提出研究报告后，全利资源有限公司（QL）股价已挺升51％，使它成为东盟表现最佳的消费产品股。 亚欧美投资银行对全利资源继续乐观，如果盈利增长的合并收购商机实现，其5.05令吉目标价将有上调倾向，与此同时，它将维持买进该股建议。全利资源综合农业的历史税前盈利利润只有每年4至7％，但在2004至2007财政年期间的复合常年平均增长率却达27％。全利资源在越南开始创业后，预测综合农业继续增长。
在投资阶段初期30至36个月结束后，全利资源的越南投资可能供给现有每日150万只鸡蛋产量规模的大约3分之2。由于越南鸡蛋售价，比马来西亚高出20至30％，同时预测营业成本较低，全利资源可能录得高过国内营业的4至7％税前盈利利润。亚欧美投资银行现尚未结合其于越南投资的任何盈利，并将等待推行该计划的进一步消息。该投资银行早前强调，全利资源在经济最不稳定时期将有最多收购动力。它认为，目前的较高商品价格和全球经济情况不定，将是全利资源寻求盈利增长途径的最好时机。由于它在新加坡、印尼和目前越南的据点，亚欧美投资银行并不排除全利资源会在其中任何一个国家继续扩充的可能性
二零零八年五月十六日 晚上六时四十三分
（吉隆坡16日讯）自2007年3月开始提出研究报告后，全利资源有限公司（QL）股价已挺升51％，使它成为东盟表现最佳的消费产品股。 亚欧美投资银行对全利资源继续乐观，如果盈利增长的合并收购商机实现，其5.05令吉目标价将有上调倾向，与此同时，它将维持买进该股建议。全利资源综合农业的历史税前盈利利润只有每年4至7％，但在2004至2007财政年期间的复合常年平均增长率却达27％。全利资源在越南开始创业后，预测综合农业继续增长。
在投资阶段初期30至36个月结束后，全利资源的越南投资可能供给现有每日150万只鸡蛋产量规模的大约3分之2。由于越南鸡蛋售价，比马来西亚高出20至30％，同时预测营业成本较低，全利资源可能录得高过国内营业的4至7％税前盈利利润。亚欧美投资银行现尚未结合其于越南投资的任何盈利，并将等待推行该计划的进一步消息。该投资银行早前强调，全利资源在经济最不稳定时期将有最多收购动力。它认为，目前的较高商品价格和全球经济情况不定，将是全利资源寻求盈利增长途径的最好时机。由于它在新加坡、印尼和目前越南的据点，亚欧美投资银行并不排除全利资源会在其中任何一个国家继续扩充的可能性
Tag :
QL(全利)
QL : PROPOSED BONUS ISSUE
The Company proposes to implement a bonus issue of up to 110,000,000 Bonus Shares to its shareholders on the basis of one (1) Bonus Share for every two (2) existing Shares held, credited as fully paid-up, on the Entitlement Date. The actual number of Bonus Issue Shares to be issued will depend on the issued and paid-up share capital of the Company as at the Entitlement Date, after taking into consideration the issued and paid-up share capital of QL (as at 31 March 2008, the figure stood at RM110,000,000 comprising 220,000,000 Shares) as well as such Shares purchased by QL under the Proposed Share Buy-Back (if any).
The Entitlement Date will be determined at a later date upon the receipt of all relevant approvals for the Proposed Bonus Issue. The Proposed Bonus Issue is expected to be completed by the second quarter of calendar year 2008. For information purposes, the Proposed Bonus Issue is not intended to be implemented in stages over a period of time.
This announcement is dated 16 April 2008.
The Entitlement Date will be determined at a later date upon the receipt of all relevant approvals for the Proposed Bonus Issue. The Proposed Bonus Issue is expected to be completed by the second quarter of calendar year 2008. For information purposes, the Proposed Bonus Issue is not intended to be implemented in stages over a period of time.
This announcement is dated 16 April 2008.
Tag :
QL(全利)
受惠于鱼浆价格暴涨 全利资源值得买入
受惠于鱼浆价格暴涨 全利资源值得买入
二零零八年四月十七日 晚上六时五十分 Kwang Wah Newspaper
http://www.kwongwah.com.my/news/2008/04/17/96.html
（吉隆坡17日讯）亚欧美投资银行在一份投资报告中，建议投资者“买入”全利资源有限公司（QL），并将目标价订在5.05令吉，这较现有股价出现20.81%的潜在赚益。
全利资源现时提供20%每股盈利年增长率，以及3%周息率。基于较低10倍本益比计算，估计该集团在09至10财政年目标价是5.05令吉。亚欧美投银预测其盈利还有显著的增长空间，该集团的市值一旦超越10亿令吉（或是每股4.55令吉）以及交易量获改善下，尽管市场波动很大，但是它估值尚可提升。
全利资源08财政年净利现正朝着预测的7700万令吉进发，加上该财政年第4季营运情况较佳，应可符合预测，按年增23.5%。
该股股价从今年至今经已升值10%（隆综指则升15%）。全利资源将在今年5月杪前公布08财政年全年业绩，预料一旦业绩公布后，该股股价将会再度上升。
在08财政年首3季，该集团的毛利按年增30%，而在第4季的表现亦相当良好。至于鱼浆价格在第4季则按季上涨接近1倍，以及集团旗下3个部门的较高销量，意味着08财政年净利增长按年上升24至30%是可以达到的。
现时，亚欧美投银对全利资源的财测保持不变，但是分别提升其08至10财政年每股盈利预测至12.5仙（+1.5仙）、15仙（+3仙）以及18仙（+5仙），主要是假设每年好像07财政年一样作出35%的股息派发率。
现时，全利资源的净利年增长率是20%，因此该股是非常之依赖增长，然而亚欧美投银预测它将会持续派发慷慨的股息。如果该集团继续提供30至35%的净派发率，它可能在08财政年宣布派发每股12.5仙的终期息（这相等于按照现股价计算的3%毛收益率）。
在2007年3月当该投银推介该股后，若投资者当时买入该股，他们就将享有预期08财政年的4.5%周息率（10财政年是6.4%），以及过去13个月来股价一共升值47.8%。
全利资源受惠于使用津贴的工业柴油于旗下的国内注册与自己拥有的船只。津贴的工业柴油价格是每公升1令吉，较市价的2令吉为高。为了更加节省成本，集团在柔佛与霹雳的锅炉已改用没有果实的果束、谷物的外壳以及锯木厂的木碎来代替工业柴油作为生化燃料。亚欧美投银预测上述工厂所生产的海产赚幅在09财政年将会上升。
二零零八年四月十七日 晚上六时五十分 Kwang Wah Newspaper
http://www.kwongwah.com.my/news/2008/04/17/96.html
（吉隆坡17日讯）亚欧美投资银行在一份投资报告中，建议投资者“买入”全利资源有限公司（QL），并将目标价订在5.05令吉，这较现有股价出现20.81%的潜在赚益。
全利资源现时提供20%每股盈利年增长率，以及3%周息率。基于较低10倍本益比计算，估计该集团在09至10财政年目标价是5.05令吉。亚欧美投银预测其盈利还有显著的增长空间，该集团的市值一旦超越10亿令吉（或是每股4.55令吉）以及交易量获改善下，尽管市场波动很大，但是它估值尚可提升。
全利资源08财政年净利现正朝着预测的7700万令吉进发，加上该财政年第4季营运情况较佳，应可符合预测，按年增23.5%。
该股股价从今年至今经已升值10%（隆综指则升15%）。全利资源将在今年5月杪前公布08财政年全年业绩，预料一旦业绩公布后，该股股价将会再度上升。
在08财政年首3季，该集团的毛利按年增30%，而在第4季的表现亦相当良好。至于鱼浆价格在第4季则按季上涨接近1倍，以及集团旗下3个部门的较高销量，意味着08财政年净利增长按年上升24至30%是可以达到的。
现时，亚欧美投银对全利资源的财测保持不变，但是分别提升其08至10财政年每股盈利预测至12.5仙（+1.5仙）、15仙（+3仙）以及18仙（+5仙），主要是假设每年好像07财政年一样作出35%的股息派发率。
现时，全利资源的净利年增长率是20%，因此该股是非常之依赖增长，然而亚欧美投银预测它将会持续派发慷慨的股息。如果该集团继续提供30至35%的净派发率，它可能在08财政年宣布派发每股12.5仙的终期息（这相等于按照现股价计算的3%毛收益率）。
在2007年3月当该投银推介该股后，若投资者当时买入该股，他们就将享有预期08财政年的4.5%周息率（10财政年是6.4%），以及过去13个月来股价一共升值47.8%。
全利资源受惠于使用津贴的工业柴油于旗下的国内注册与自己拥有的船只。津贴的工业柴油价格是每公升1令吉，较市价的2令吉为高。为了更加节省成本，集团在柔佛与霹雳的锅炉已改用没有果实的果束、谷物的外壳以及锯木厂的木碎来代替工业柴油作为生化燃料。亚欧美投银预测上述工厂所生产的海产赚幅在09财政年将会上升。
Tag :
QL(全利)
QL net profit 9MFY08 was RM59.7 million grew by 29.8%
The 9MFY08 earning mainly boosted by the Integrated LiveStock Farming and Marine Products Manufacturing Divisions. Cruel oil milling business was soften by intense competition from other milling in the area and lower FFB processed. The major shareholder and the founder of the QL Chia family is confidence that the business continue double digit growth next few years. The group has a few major capital investments in the pipeline, eg egg farm in Vietnam and 20K hectares Palm oil in Indonesia to ensure double digit growth trend. Although Palm oil planting would not be completed until 2009 in Indonesia and significant revenue from this investment will only realise after 4-5 yrs later. But existing business in ILF and MPM should able to sustain the revenue and earning growth.
The share is tigthly held, and Chia family is controlling more than 60% of the share hence the share will not drop dramatically. The counter price is steadily increase from RM2.8 to RM4.xx from 1 year ago. Another thing is Chia family still continue to buy share from open market at 4.xx.
Company Background:
QL today is a diversifed resource and agricultural-based group with three core principal activities: Marine Products Manufacturing, Integrated Livestock Farming and Crude Palm Oil Milling.
1. Marine Products Manufacturing
This consists of fully integrated manufacturing processes of surimi (semi-processed raw fish paste), fi shmeal, surimi-based products and deep sea fishing. QL is the largest surimi producer in Asia and also the largest producer of fishmeal and surimi-based products in Malaysia. We are a leading deep sea fishing operator in Malaysia.
2. Integrated Livestock Farming
This consists mainly of animal feed raw material distribution and poultry egg farming. QL is a leading poultry egg producer in Malaysia with egg farms geographically located throughout Peninsular and East Malaysia. QL has a daily egg production of 1.5 million eggs. QL is also a
leading distributor of animal feed raw material such as corn and soybean meal, in Malaysia.
3. Crude Palm Oil Milling
This consists mainly of Crude Palm Oil (CPO) milling and oil palm plantation development. QL has two CPO mills servicing small estates in the vicinity. The mills are located near Tawau and Kunak, Sabah. QL has 20,000 hectares of oil palm development in Eastern Kalimantan, Indonesia and some mature acreage in Sabah.
The share is tigthly held, and Chia family is controlling more than 60% of the share hence the share will not drop dramatically. The counter price is steadily increase from RM2.8 to RM4.xx from 1 year ago. Another thing is Chia family still continue to buy share from open market at 4.xx.
Company Background:
QL today is a diversifed resource and agricultural-based group with three core principal activities: Marine Products Manufacturing, Integrated Livestock Farming and Crude Palm Oil Milling.
1. Marine Products Manufacturing
This consists of fully integrated manufacturing processes of surimi (semi-processed raw fish paste), fi shmeal, surimi-based products and deep sea fishing. QL is the largest surimi producer in Asia and also the largest producer of fishmeal and surimi-based products in Malaysia. We are a leading deep sea fishing operator in Malaysia.
2. Integrated Livestock Farming
This consists mainly of animal feed raw material distribution and poultry egg farming. QL is a leading poultry egg producer in Malaysia with egg farms geographically located throughout Peninsular and East Malaysia. QL has a daily egg production of 1.5 million eggs. QL is also a
leading distributor of animal feed raw material such as corn and soybean meal, in Malaysia.
3. Crude Palm Oil Milling
This consists mainly of Crude Palm Oil (CPO) milling and oil palm plantation development. QL has two CPO mills servicing small estates in the vicinity. The mills are located near Tawau and Kunak, Sabah. QL has 20,000 hectares of oil palm development in Eastern Kalimantan, Indonesia and some mature acreage in Sabah.
Tag :
QL(全利)
謝松坤：QL 3大業務同步成長
（吉隆坡訊）“創新、改革”不只是口號，而是貫徹的目標；以農畜業起家的全利資源（QL，7084）不故步自封，敢於創新，讓古老的生意持續綻放光芒！邁入創辦20週年的全利資源“三管齊下”，持續推動旗下海產加工、棕油榨取和家禽養殖3大核心業務同步成長。截至2007年3月31日止財政年，海產加工和家禽養殖分別對該公司的稅後凈利作出44%貢獻；棕油榨取則貢獻12%。
積極拓展海產加工
作為亞洲最大的魚肉醬出口公司，全利資源的海產加工部門扮演舉足輕重的角色。該部門產品主要輸出至日本、韓國、新加坡與台灣等國，近期更擴充市場至歐洲和美洲國家，使海外業務貢獻營業額超過60%。該公司近幾年更投入深海捕魚，擴充海產加工部門之餘，也提昇效率。全利資源董事經理謝松坤表示：“過去兩年，公司投資8000萬令吉於海產加工部門，未來2年也將投入同樣數額的資金，並預計可維持雙位數成長。此外，公司也致力提昇海產保存技術。”
棕油榨取料維持10%成長
全利資源目前在沙巴斗湖經營3000英畝的油棕園坵，樹齡介於4至8年，同時在附近經營2座棕油榨油廠，每年榨取12萬公噸的原棕油。謝松坤說，現有的原棕油行情看俏，加上原棕油副產品所帶來的營收，我們預期原棕油業務將維持10%至15%成長。與此同時，該公司在印尼加里曼丹東部也擁有總面積2萬公頃的油棕種植地。他指出：“公司將撥出8000萬令吉作為未來2年的資本開銷，其中我們打算在印尼收購更多土地。”
另一方面，由於原棕油價格過高，全利資源耽擱在拿篤油棕綜合工業園（POIC）的原棕油提煉和生物燃油計劃。謝松坤說：“儘管如此，我們還是持續探討其他下游業務，包括生產維他命E和油棕纖維能源。”
家禽養殖轉型密閉式
正當市場疑慮潛在的禽流感危機或打擊該公司的家禽養殖業務時，謝松坤打趣地回應：“禽流感或許減少消費者食用雞蛋，然而他們可能轉而選擇吃魚，使得公司的海產收入增長。”談到禽流感，他反而認為“危機就是轉機”，他指出，禽流感疑慮使得政府開始管制禽流感禍首的小型雞場，有規模的大型雞場則從中受益。謝松坤透露：“過去2年，公司投資5000萬令吉把旗下的養殖場轉型成密閉式，此可有效杜絕禽流感。未來2年，公司也將投資超過1億令吉繼續提昇產能。”全利資源目前每日生產150萬顆雞蛋，同時該公司也是大馬主要的動物飼料分銷商，佔有18%市場份額。此外，他不排除將採用併購其他相關公司方式，擴充實力，並預期未來1至2年，家禽養殖業務將可維持10%至15%成長。”
致力維持雙位數成長
另一方面，該公司正探討在越南和中國設立養殖場。他表示：“我們將視情況於未來2年撥出6000萬令吉在越南和中國設立養殖場，惟目前尚處探討階段。”3大核心業務同步成長下，謝松坤預期全利資源未來數年可維持雙位數的盈利成長，同時致力達成分析員對其2008財政年稅後盈利的預測，即按年成長14.8%。 （星洲日報/財經•2007.06.21）
積極拓展海產加工
作為亞洲最大的魚肉醬出口公司，全利資源的海產加工部門扮演舉足輕重的角色。該部門產品主要輸出至日本、韓國、新加坡與台灣等國，近期更擴充市場至歐洲和美洲國家，使海外業務貢獻營業額超過60%。該公司近幾年更投入深海捕魚，擴充海產加工部門之餘，也提昇效率。全利資源董事經理謝松坤表示：“過去兩年，公司投資8000萬令吉於海產加工部門，未來2年也將投入同樣數額的資金，並預計可維持雙位數成長。此外，公司也致力提昇海產保存技術。”
棕油榨取料維持10%成長
全利資源目前在沙巴斗湖經營3000英畝的油棕園坵，樹齡介於4至8年，同時在附近經營2座棕油榨油廠，每年榨取12萬公噸的原棕油。謝松坤說，現有的原棕油行情看俏，加上原棕油副產品所帶來的營收，我們預期原棕油業務將維持10%至15%成長。與此同時，該公司在印尼加里曼丹東部也擁有總面積2萬公頃的油棕種植地。他指出：“公司將撥出8000萬令吉作為未來2年的資本開銷，其中我們打算在印尼收購更多土地。”
另一方面，由於原棕油價格過高，全利資源耽擱在拿篤油棕綜合工業園（POIC）的原棕油提煉和生物燃油計劃。謝松坤說：“儘管如此，我們還是持續探討其他下游業務，包括生產維他命E和油棕纖維能源。”
家禽養殖轉型密閉式
正當市場疑慮潛在的禽流感危機或打擊該公司的家禽養殖業務時，謝松坤打趣地回應：“禽流感或許減少消費者食用雞蛋，然而他們可能轉而選擇吃魚，使得公司的海產收入增長。”談到禽流感，他反而認為“危機就是轉機”，他指出，禽流感疑慮使得政府開始管制禽流感禍首的小型雞場，有規模的大型雞場則從中受益。謝松坤透露：“過去2年，公司投資5000萬令吉把旗下的養殖場轉型成密閉式，此可有效杜絕禽流感。未來2年，公司也將投資超過1億令吉繼續提昇產能。”全利資源目前每日生產150萬顆雞蛋，同時該公司也是大馬主要的動物飼料分銷商，佔有18%市場份額。此外，他不排除將採用併購其他相關公司方式，擴充實力，並預期未來1至2年，家禽養殖業務將可維持10%至15%成長。”
致力維持雙位數成長
另一方面，該公司正探討在越南和中國設立養殖場。他表示：“我們將視情況於未來2年撥出6000萬令吉在越南和中國設立養殖場，惟目前尚處探討階段。”3大核心業務同步成長下，謝松坤預期全利資源未來數年可維持雙位數的盈利成長，同時致力達成分析員對其2008財政年稅後盈利的預測，即按年成長14.8%。 （星洲日報/財經•2007.06.21）
Tag :
QL(全利)
全利資源股價看高一線 from Oriental Daily Newspaper
2因素利好 全利資源股價看高一線 - Friday, June 15, 2007
(吉隆坡14日訊)隨著全利資源(QL，7084，主板消費股)持續取得強勁成長，加上該公司在農業領域強穩的地位，分析員預料該公司的股價將可取得更佳的表現。
全利資源的業務成長策略，令該公司能夠維持從2001年開始就沒有間斷過的盈利成長狀態。在這個趨勢下，亞歐美投資銀行分析員認為，該公司能夠在2008年，或是2009年達到10億令吉的市值。
該分析員表示，全利資源可能在08財政年杪被列為綜指成份股。
分析員相信，全利資源能夠在07以及08年，分別達到他們所預測的18%淨利成長。他指出，到了07年杪，預料全利資源的深海捕魚船，能夠從目前的14艘增至20艘。
在全利資源的蛋雞養殖業務上，亞歐美投資銀行預期，其古晉農場將在未來的兩個季度，轉型成為封閉式系統。在這個轉型行動下，預料該農場每年的產量將增加40到50%。這將會讓全利資源07年的總雞蛋產量取得成長，並且在08年達到雙位數成長表現。
在上述因素的影響下，分析員認為，未來4到5年內，全利資源的每股收益成長將接近20%。
以全利資源目前的狀況來看，分析員相信，在高水平的企業治理、積極的社會責任紀錄，以及絕佳的成長表現等因素下，投資者有足夠的理由購買該公司的股票。
亞歐美投資銀行給予全利資源「買進」的評價，並且將目標價格提升到4.15令吉。
(吉隆坡14日訊)隨著全利資源(QL，7084，主板消費股)持續取得強勁成長，加上該公司在農業領域強穩的地位，分析員預料該公司的股價將可取得更佳的表現。
全利資源的業務成長策略，令該公司能夠維持從2001年開始就沒有間斷過的盈利成長狀態。在這個趨勢下，亞歐美投資銀行分析員認為，該公司能夠在2008年，或是2009年達到10億令吉的市值。
該分析員表示，全利資源可能在08財政年杪被列為綜指成份股。
分析員相信，全利資源能夠在07以及08年，分別達到他們所預測的18%淨利成長。他指出，到了07年杪，預料全利資源的深海捕魚船，能夠從目前的14艘增至20艘。
在全利資源的蛋雞養殖業務上，亞歐美投資銀行預期，其古晉農場將在未來的兩個季度，轉型成為封閉式系統。在這個轉型行動下，預料該農場每年的產量將增加40到50%。這將會讓全利資源07年的總雞蛋產量取得成長，並且在08年達到雙位數成長表現。
在上述因素的影響下，分析員認為，未來4到5年內，全利資源的每股收益成長將接近20%。
以全利資源目前的狀況來看，分析員相信，在高水平的企業治理、積極的社會責任紀錄，以及絕佳的成長表現等因素下，投資者有足夠的理由購買該公司的股票。
亞歐美投資銀行給予全利資源「買進」的評價，並且將目標價格提升到4.15令吉。
Tag :
QL(全利)
New Stock Introduction: QL
QL Resources Berhad is an investment holding company and a provider of management services. Its activities include marine-products manufacturing, crude palm oil (CPO) milling and integrated livestock farming. The Marine-products manufacturing segment, engaged in manufacturing and sale of fishmeal, surimi and surimi-based products; crude palm oil milling segment, involved in CPO milling and small-scale oil palm cultivation, and integrated livestock farming segment, engaged in the distribution of animal feed raw materials, poultry farming, food related products and sundry trading activities. QL has three layer farms in East Malaysia, two layer farms in Peninsular Malaysia, one in Nilai, Negeri Sembilan and one in Rawang, Selangor with total daily production of 1,200,000 eggs. In April 2005, QL Feedingstuffs Sdn. Bhd. and Tong Len Poultry Sdn. Bhd., wholly owned subsidiaries of the Company, entered into a joint venture agreement with Agrobiocare Sdn. Bhd. and Mission Victory Sdn. Bhd
Tag :
QL(全利)
