`


THERE IS NO GOD EXCEPT ALLAH
read:
MALAYSIA Tanah Tumpah Darahku

LOVE MALAYSIA!!!





Friday, November 30, 2012

FGV's stock price falls as analysts see bleak Q3 results


Felda Global Ventures Holdings Bhd’s (FGV) share price fell four sen, or 0.87 percent, to RM4.55 as at 11.33am today as analysts expected a disappointing third-quarter result.

The price was also at par with the oil palm plantation giant's offer price at its initial public offering, which was Malaysia’s largest listing this year and the second in the world after Facebook.

An analyst said the expectation of disappointing third-quarter result was due to the weak crude palm oil (CPO) prices and low fresh fruit bunches (FFB) production growth during the three months under review.

“FGV could also struggle with its ageing oil palm trees that accounted for 53 percent of the 320,000 hectares of oil palm estates which rank among the highest in the industry,” he said.

He said a replanting exercise would mean even more loss of income for the group during the period for the trees to mature.

The analyst said the company was also reportedly suffered from a productivity issue in terms of tonnes per hectare that ranked as the third lowest among the major Malaysian plantations firms. 

FGV, listed on the main market of Bursa Malaysia on June 28 with 72.96 million shares offered to the public, debuted at RM5.39 and rose to as high as RM5.50 on July 4. 

Bernama

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.