Share price = SGD0.68, Indonesia based plantation company.
Listed on SGX
Gearing = 0.08 time
Financial result for 1Q2011 released with USD230 million profit.
EPS = USD 0.019 ( SGD0.023).
If GAR able to maintain the quarterly profit at 100 million per quarter for next 3 quarter, then the annualised result should be around USD0.043 (SGD0.05-SGD0.06).
The share price currently trading at forward PER of 11X and target price SGD0.81 based on 15x PER FY2011 after taking into foreign exchange (USD & SGD) fluctuation (10% range).
Potential upside = at least 19%.
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