Recap on BUY CALL on this counter on 18 Nov 2009 (SGD 0.46).
Today Golden Agri closed at SGD 0.575 ( up by 25% in less than 2 months ).
Looking at CPO price may continue its upward trend toward Feb 2010, Golden Agri may extended it movement and try to break SGD0.60 level and go higher toward SGD0.70-0.75 level.
CPO price has been moving firmly from 2200 level in October 2009 until now 2700 level (up by 22%). I believe most of the plantation companies will report better quarter result. Therefore, for those looking for CNY Ang Pow, you may try plantation counters.
Tier 1 plantation counter: RM1.00+/-
1. CEPAT-RM1.00
2. TANAMAS (GLBHD)-RM0.92
Tier 2 plantation counter: RM2.00-RM4.00
1. IJMPLNT-RM2.57
2. KMLOONG-R2.20
3. BSTEAD-RM3.46
Tier 3 plantation counter: RM4 and above
1. GENPLNT - RM6.40
2. UMCCA-RM7.96
Risk to the above suggestion: crude oil and soybean oil prices drop sharply.
No comments:
Post a Comment