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Initial Public Offering (IPO)

FGVH umum rakan niaga minggu depan

Felda’s IPO can fetch as high as 18 times PE: Analysts
Posted on 30 April 2012 - 05:38am
Last updated on 30 April 2012 - 08:43am

EE ANN NEE and PREMALATHA JAYARAMAN

PETALING JAYA (April 30, 2012): Felda Global Ventures Holdings Bhd's (FGVH) IPO is likely to be priced at a price/earnings (PE) multiple of as high as 18 times, which will be on par with other bigger plantation players in the country, say analysts.

Plantation stocks like Genting Plantations Bhd, Wilmar International Ltd and Kuala Lumpur Kepong Bhd (KLK) have PEs of more than 16 times while Sime Darby Bhd is traded 13.34 times because it is not a pure plantation counter. Furthermore, Sime is said to have lower yield than its peers.

A plantation analyst with a local brokerage said FGVH's PE could be around 18 times because the listing will boost the other plantation stocks and inject more liquidity into the sector.

"The listing will support the replanting programme and in the long run improve overall fresh fruit bunch (FFB) production. With more liquidity, hopefully there'll be a re-rating for the overall plantation sector and place a higher price/earnings ratio (PE) to plantation companies," he said.

MIDF Research senior vice-president and head Zulkifli Hamzah said: "Until the listing, we do expect market sentiment to be adequately supported by local funds."

He expects FGVH's listing to be imminent, taking place before the general election.

However, Inter-Pacific Research put the value of FGVH at a PE of 13 times when listed because it is a conglomerate and not a pure play stock.

"Sime Darby is a conglomerate company which runs various businesses. The conglomerate trades at a discount compare to pure play stocks such as IOI Corp Bhd, KLK, Wilmar and Genting Plantations," it added.

According to its prospectus published on the Securities Commission's website, FGVH is offering up to 2.19 billion shares, comprising an offer for sale of up to 1.2 billion shares and a public issue of 980 million shares.

Of this, 1.21 billion shares will be for Malaysian and foreign institutions via bookbuilding exercise, 419.54 million for approved bumiputra investors, 200.65 million to employees and Federal Land Development Authority (Felda) settlers, and 72.96 million shares to the public.

For the last financial year ended Dec 31, 2011, it posted a net profit of RM942.18 million compared with RM932 million previously. Revenue was RM7.47 billion against the previous year's RM5.8 billion.

The group currently operates 343,521ha of oil palm plantations in Malaysia that produced 5.2 million metric tonnes of fresh fruit bunches (FFB) last year. According to Frost & Sullivan, FGVH was the third-largest oil palm plantation operator in the world based on planted hectarage (other than plantings of immature oil palms) last year.

Meanwhile, Bernama reported that FGVH CEO Datuk Sabri Ahmad is leading a team to woo international cornerstone investors for the IPO.

Sabri was in London for back-to-back meetings with British fund managers in an effort to generate European interest on the IPO, reported to be the third biggest in Southeast Asia.

"We have gotten some good pledges. Overall, the response from our prospective European investors has been positive," he said.

Apart from London, Sabri and his team will also visit potential investors in Hong Kong and Singapore.

FGVH umum rakan niaga minggu depan
Oleh Abdul Razak Raaff, Ahmad Farizal Hajat dan Shaarani Ismail
[email protected]
2012/05/09
Firma asing dipilih mesti mahir sektor hiliran, bantu kembang perniagaan peringkat global

FELDA Global Ventures Holdings (FGVH) akan mengumumkan nama firma global yang bakal menjadi rakan niaga strategik antarabangsanya minggu depan.
Presiden dan Ketua Eksekutifnya, Datuk Sabri Ahmad berkata, kumpulan itu kini dalam peringkat akhir menilai firma berkenaan.
“FGVH sudah pun memiliki bidang perniagaan yang kukuh dalam sektor huluan, justeru rakan strategik asing yang dipilih nanti harus memiliki kelebihan dalam sektor hiliran.

“Kami akan mengumumkan nama firma yang dipilih minggu depan,” katanya kepada Berita Harian dan Business Times ketika ditemui selepas program Majlis Sejahtera Peneroka bersama Perdana Menteri Datuk Seri Najib Razak di Jerantut, Pahang semalam.

Sabri bagaimanapun enggan mendedahkan nama firma yang sedang dinilai, tetapi difahamkan FGVH mungkin melantik dua firma bagi memudahkannya melebarkan sayap perniagaan ke luar negara.

Di bawah tawaran awam permulaan (IPO) FGVH, lima peratus kepentingan syarikat itu diperuntukkan kepada pelabur asing. Bagaimanapun difahamkan rakan niaga strategik yang akan dipilih FGVH itu tidak semestinya akan memiliki kepentingan dalam syarikat berkenaan.
Mengulas lanjut, Sabri berkata, rakan niaga strategik FGVH yang bakal dipilih itu seharusnya mampu membantu kumpulan itu untuk terus meneroka dan mengembangkan perniagaan di peringkat antarabangsa.

“Apa yang kita mahukan daripada rakan strategik asing itu adalah untuk membantu FGVH mengukuh dan memperluaskan lagi kedudukan dalam bidang utama termasuk logistik, pengiklanan, pemasaran dan promosi,” katanya sambil menambah FGVH mahu bekerjasama dengan pengendali terkemuka dalam industri perladangan.

Sementara itu, sumber industri berkata, antara firma global yang sedang disenarai pendek oleh FGVH termasuk Archer Daniels and Midland, Bunge Ltd, Procter & Gamble, Behnmeyer and Taiko Chemicals.

FGVH cabang perniagaan global FELDA yang ditubuhkan pada 2009 akan disenaraikan di Pasaran Utama Bursa Malaysia menjelang akhir Jun ini dengan nilai permodalan pasaran dianggarkan berjumlah lebih RM18 bilion.

Ia terbabit dalam perniagaan pertanian dengan penumpuan kepada bidang perladangan sawit, getah selain menanam dan memproses tebu sebagai gula.

Syarikat itu turut menjalankan perniagaan global seperti perniagaan minyak dan lemak, oleokimia, logistik dan perkhidmatan serta beroperasi di 13 negara, termasuk Amerika Syarikat (AS), Kanada, Afrika Selatan dan Asia Barat dengan memiliki lebih 80 syarikat aktif.

Baru-baru ini, Sabri berkata, selain menjadikan FGVH sebagai penjana keuntungan kumpulan, penyenaraian itu juga bertujuan menjadikannya sebuah syarikat multinasional sama seperti Archer-Daniels-Midland Co dan Cargill Inc yang berpangkalan di AS.

Pada pembentangan Bajet 2012 tahun lalu, Najib mengumumkan langkah menyenaraikan FGVH di Bursa Malaysia bagi membolehkannya menjadi sebuah syarikat berstatus konglomerat global bagi menghasilkan dana.

Penyenaraian syarikat itu juga akan mewujudkan sebuah lagi saham mewah perladangan di Bursa Malaysia.

Langkah itu menjejaki penyenaraian cabang perniagaan gula FGVH, MSM Malaysia Holdings Bhd pertengahan tahun lalu yang dilihat akan menyuntik kesegaran baru dalam pasaran modal tempatan.
 
Peluang IPO Gas & FGVH..

kpd yg tlepas apply ipo felda melalui miti..
tgu offer utk public xberapa lama lg..
selalulah jeguk2 thread ni

Tunggulah peluang utk apply IPO Gas & FGVH tidak lama lagi, kebarangkalian kejayaan utk dptkan saham mewah ini agak tipis dan sengit..:)
 
ELK-Desa sends in draft prospectus to SC for IPO

KUALA LUMPUR: ELK-Desa Resources Bhd has submitted a draft prospectus to the Securities Commission (SC) for its flotation on the Main Market of Bursa Malaysia.

According to the draft prospectus, the company is proposing to make a public issue of 25 million new shares.

This represents 20% of its enlarged paid-up capital under its proposed initial public offering (IPO). Some 15.62 million shares would be allocated for bumiputra investors.

It will also place 4.51 million shares to eligible employees.

The balance of 4.86 million shares will be allocated for the public.

The offer price and the date of the IPO has yet to be announced.

ELK-Desa Resources, through its wholly-owned subsidiary ELK-Desa Capital, is primarily involved in the business of hire-purchase financing for used motor vehicles.

The group is also involved in selling general insurance policies as an insurance agent and trading of used motor vehicles through ELK-Desa Capital’s wholly-owned subsidiaries, ELK-Desa Risk Agency and ELK-Desa Marketing, respectively.

For the financial year ended March 31, 2011 (FY11), ELK-Desa Resources posted a net profit of RM15.28mil against RM13.19mil in the corresponding period a year ago. Its revenue for FY11 rose to RM35.4mil from RM30.89mil previously.
 
Tunggulah peluang utk apply IPO Gas & FGVH tidak lama lagi, kebarangkalian kejayaan utk dptkan saham mewah ini agak tipis dan sengit..:)

Dah boleh semak..ada sapa yg sangkut GAS IPO Miti?
 
Alhamdulillah sangkut IPO Gas Msia utk company n my wife 16500 unit

Tahniah bro, spt yg dikabarkan 16500 adalah maksimum unit yg diberikan kpd pelabur individu/sykt. MITI pakai pro rata jugak ye..:)
 
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