Background:-
Golden Agri-Resources Ltd ("GAR") is the world's second largest palm oil plantation company with a total planted area of 446,200 hectares (including smallholders) as at 30 June 2011, located in Indonesia. It has integrated operations focused on the production of palm-based edible oil and fat.
Founded in 1996, GAR is listed on the Singapore Exchange since 1999 with a market capitalisation of US$6.7 billion as at 30 June 2011. Flambo International Ltd, an investment company, is GAR's largest shareholder, with a 50% stake. GAR has several subsidiaries, including PT SMART Tbk wich is listed on the Indonesia Stock Exchange since 1992.
GAR is focused on sustainable palm oil production. In Indonesia, its primary activities include cultivating and harvesting of oil palm trees; processing of fresh fruit bunch into crude palm oil ("CPO") and palm kernel; and refining CPO into value-added products such as cooking oil, margarine and shortening. It also has integrated operations in China including a deep-sea port, oilseeds crushing plants, production capabilities for refined edible oil products as well as other food products such as noodles.
| Key Numbers | USD (Currency in Millions) |
| Income Statement | |||||
| Total Revenue | $3504.66 | ||||
| Gross Profit | $954.59 | ||||
| Total Operating Expense | $1593.69 | ||||
| Operating Income | $1910.97 | ||||
| Net Income before taxes | $1929.18 | ||||
| Net Income after taxes | $1447.15 | ||||
| Net Profit Margin | 41.29% | ||||
| Balance Sheet | |||||
| Total Assets | $10114.45 | ||||
| Current Assets | $1491.91 | ||||
| Total Liabilities | $3288.59 | ||||
| Current Liabilities | $1060.90 | ||||
| Long Term Debt | $443.64 | ||||
| Total Debt | $984.35 | ||||
| Total Equity | $6825.86 | ||||
| Cash Flows | |||||
| Cash from Operating Activities | $167.41 | ||||
| Cash from Investing Activities | $(469.79) | ||||
| Cash from Financing Activities | $184.37 | ||||
| Net Change in Cash | $(118.00) | ||||
| Total Revenue (Millions) | Q1 | Q2 | Q3 | Q4 | 12 months |
| 2011 | $1463.03 | $1600.51 | NA | NA | NA |
| 2010 | NA | $726.22 | $964.74 | $1189.16 | $3504.66 |
| Net Income (Millions) | Q1 | Q2 | Q3 | Q4 | 12 months |
| 2011 | $230.70 | $179.86 | NA | NA | NA |
| 2010 | NA | $66.05 | $99.17 | $1169.30 | $1423.04 |
Listed on SGX and quoted in SGD. Conversion 1 USD = SGD 1.208
1. EPS = SGD 0.08
2. Healthy Balance Sheet
3. Improved net profit and sustainable.
Accumulate if share price range from 0.64 - 0.56.
PER ===Share Price (SGD)
10 ===0.80
9 ===0.72
8 === 0.64
7 ===0.56
6 === 0.48
Golden Agri share is actively trading on SGX, therefore this counter able to provide trading opportunity for those looking for 5%-10% investment return.
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