Anglo-Eastern Plantations

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ILAD
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Re: Anglo-Eastern Plantations

Bericht door ILAD »

sperweroog schreef:
> Ook ergens gelezen dat al die veranderingen van laatstleden ( inkoop
> aandelen, verhoging dividend, uitkopen minderheidsbelangen, verkoop niet
> rendabele plantages ) wel eens de voorbode kon zijn van een verkoop. Dat is
> dan op zijn minst tegen een dubbeltje ( eerder richting tripple ) vanaf
> deze koersen.
>
>
>
> groeten,

bovendien heeft John LIM 15.894 aandelen AEP gekocht in 3/2023 .

groeten


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Mp Evans acquisitie

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M. P. EVANS GROUP PLC

("THE GROUP")

ACQUISITION OF 8,350 PLANTED HECTARES

M.P. Evans Group PLC, a producer of sustainable Indonesian palm oil, is pleased to announce that its wholly-owned subsidiary, P.T. Evans Indonesia, has signed a conditional agreement to acquire the entire issued share capital of two Indonesian companies, P.T. Agro Bumi Kaltim ("ABK") and P.T. Nusantara Agro Sentosa ("NAS"), for a total consideration of US$60 million, subject to the completion of legal and regulatory formalities in Indonesia, which the Group expects to be finalised before the end of 2023.

The acquisition is in line with the Group's established strategy of increasing the planted hectarage close to its existing operations. ABK and NAS both own oil-palm plantations in East Kalimantan, and between them manage a total planted area of 8,350 hectares. This is made up of 4,973 hectares at ABK and 3,377 hectares at NAS, comprising a total of 6,664 hectares under direct ownership and 1,686 hectares managed on behalf of associated smallholder co-operatives., and following the completion of this transaction, it is expected that all the crop from ABK will be sent to the Group's Kota Bangun estate for processing in Group mills. The crop from NAS will be sent to an external mill. The majority of the planted area at ABK and NAS is made up of young palms, with almost 90% planted between 2017-2019, and the Group expects yields from these young areas to increase as the palms continue to mature.

The Group is acquiring ABK and NAS from PT Palma Serasih Tbk, a listed Indonesian company with subsidiaries operating in the oil-palm sector, which has other plantation interests in East Kalimantan. The acquisition, the price of which is on a cash and debt-free basis, will be funded from existing resources, plus a final adjustment to allow for working capital on completion. The purchase price equates to US$9,000 per Group-owned planted hectare.

The most recent audited accounts for the companies being acquired are for the year ended 31 December 2022. They show that, as estates with relatively young plantings, ABK made a loss after tax in the year of US$3.0 million and NAS a loss of US$2.6 million. The Group expects that results from ABK and NAS will improve as the areas mature, and as management work to improve agronomic standards on both estates. The Group also expects to see benefits for the Kota Bangun milling facilities, as the reliance on outside crop suppliers starts to fall.

As a priority after acquisition, the Group will work to include the acquired areas as part of its registration with the Roundtable on Sustainable Palm Oil (the "RSPO"), in accordance with its continuing commitment to increase the proportion of its output that is certifiably sustainable. Anticipated costs associated with this were taken into consideration when determining the purchase price.

The Group's chairman, Peter Hadsley-Chaplin, commented:

"The addition of the estates at ABK and NAS to the Group portfolio is a great achievement and will bring our total area under management to over 65,000 hectares. We have been very keen to acquire more hectares close to Kota Bangun for some time, and having the ABK estate supplying its crop to our existing mills will further enhance our operational efficiencies. With more hectares delivering more crop, we will be able to continue to increase our output, supporting the Group's ambition to deliver progressive returns."

mooie deal

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MP Evans

Bericht door ILAD »

Fincapp

M.P. EVANS (MPE): CORP Second land acquisition: again, right strategy, great price
The acquisition of new planted land in East Kalimantan is consistent with stated strategy and is another low-risk acquisition at a great price. Shorter term, MP Evans will improve its productivity; longer term the acquisitions add critical mass to Kota Bangun and gives a platform for growth further north. The acquisition price of US$60m, is excellent, equivalent to just US$9.0k per hectare, and we expect this land value to increase as productivity improves and as scale benefits kick-in. We leave our forecasts unchanged for now, pending the interims on Monday.

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MP Evans halfjaarverslag

Bericht door ILAD »

HIGHLIGHTS

§ 2% increase in total crop processed to 721,100 tonnes (2022 - 705,700 tonnes)

§ 3% increase in total production of crude palm oil to 166,200 tonnes (2022 - 160,800 tonnes)

§ 27% decrease in mill-gate CPO price to US$755 per tonne (2022 US$1,035 per tonne)

§ 7% increase in certified sustainable production to 96,500 tonnes (2022 90,500 tonnes)

§ 26% increase in cost of Group palm product to US$535 per tonne (2022 US$425 per tonne)

§ 62% decrease in operating profit to US$23.4 million (2022 US$61.7 million)

§ 61% decrease in earnings per share to 24.8p (2022 - 63.3p)

§ Maintained interim dividend per share at 12.5p (2022 - 12.5p)

§ Maintained net cash position - 2023 net cash US$2.5 million (2022 - US$13.5 million)

https://d2ysp6t8sg26jc.cloudfront.net/2 ... 3e2bf.html

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MP Evans

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Re: KLK bod op Boustead Plantations

Bericht door ILAD »

ILAD schreef:
> 1 an implied P/B Multiple of approximately 1.2 times based on the audited
> consolidated
> NA per BPlant Share as at 31 December 2022 of approximately RM1.33, which
> is in
> line with the average P/B Multiple of the Comparable Companies as at the
> LTD of 1.2
> times; and
> 2 an implied EV/Planted Area Multiple of RM56,009 per Ha based on the
> planted area of
> the BPlant Group of 72,291 Ha, which is lower than the average EV/Planted
> Area
> Multiple of the Comparable Companies as at the LTD of RM56,448 per Ha.
>
> betalen ongeveer 12.000 per beplante ha
>
>
> https://disclosure.bursamalaysia.com/Fi ... TTACHMENTS
>
> groeten

Bod van KLK gaat niet door

https://www.thestar.com.my/business/bus ... t-on-oct-4

quid MPE?

groeten

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Anglo-Eastern Plantations

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Re: Anglo-Eastern Plantations

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sperweroog schreef:
17 okt 2023 14:23
Nemen ze daar niet wat een te korte bocht met hun dividendrendement berekening? Zou alleen maar kloppen als ze volgend jaar als einddividend $0,25 uitbetalen waar je op basis van dit jaar eerder dan $0,15 zou verwachten. Of mis ik iets?

groeten,
het voorschotdividend bj 23 van $0,15 komt overeen met 30% van de netto-winst over H1
het einddividend bj zal naar mijn mening ( en na wat e-mails met John ) de richting uitgaan van 30% van de courante netto-winst. het is heel moeilijk inschatten hoeveel winst AEP dit bj zal realiseren, de regel van vroeger 1/3 H1, 2/3H2 is dit jaar niet van toepassing.
een einddividend van $0,15 lijkt me realistischer.
dit betekent nog steeds een groei van het dividend van 20%, van $0,25 naar $0,30
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Anglo-Eastern Plantations

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The Indonesian Rupiah is the worst-performing currency in Asia this month.

We expect Bank Indonesia to stand pat at 5.75%. Headline inflation has slowed to 2.3% (BI target 2-4%), but the central bank has abstained from policy easing due to IDR weakness. Our house view is that the next rate move will be a cut in 1Q24 or later.


The Rupiah has weakened to a level last seen during the peak pandemic as USD/IDR breached the December 2022 high of 15,770 and next target for the Rupiah bears will be March 2020 high of 16,625.

AEP zou toch een deel van de IDR cash balances omzetten naar USD ?

groeten

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Re: Anglo-Eastern Plantations

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ILAD schreef:
20 okt 2023 11:23
The Indonesian Rupiah is the worst-performing currency in Asia this month.

We expect Bank Indonesia to stand pat at 5.75%. Headline inflation has slowed to 2.3% (BI target 2-4%), but the central bank has abstained from policy easing due to IDR weakness. Our house view is that the next rate move will be a cut in 1Q24 or later.


The Rupiah has weakened to a level last seen during the peak pandemic as USD/IDR breached the December 2022 high of 15,770 and next target for the Rupiah bears will be March 2020 high of 16,625.

AEP zou toch een deel van de IDR cash balances omzetten naar USD ?

groeten
Currency risk

Most of the Group's operations are in Indonesia. The Company and Group accounts are prepared in US Dollar which is not the functional currency of the operating subsidiaries. The Group does not hedge its net investment in its overseas subsidiaries and is therefore exposed to a currency risk on that investment. The historical cost of investment (including intercompany loans) by the parent in its subsidiaries amounted to $50,746,000 (2021: $52,710,000), while the statement of financial position value of the Group's share of underlying assets at 31 December 2022 amounted to $463,383,000 (2021: $440,030,000).



All the Group's sales are made in local currency and any trade receivables are therefore denominated in local currency. No hedging is therefore necessary.



Selling prices of the Group's produce are directly related to the US Dollar denominated world prices. Appreciation of local currencies, therefore, reduces profits and cash flow of the Indonesian and Malaysian subsidiaries in US Dollar terms and vice versa.



There are no borrowings in the Group and therefore there is no longer any currency risk for the Group in respect of this. The average interest rate on local currency deposits was 0.88% higher (2021: 2.74% higher) than on US Dollar deposits. The unmatched balance at 31 December 2022 was represented by the $13,142,000 shown in the table below (2021: $13,504,000).









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