- Growth prospect
- Unplanted reserve
- Tree age profile
- Replanting strategy
- Management efficacy
- FFB yield
- Gross margin
- Total 41 plantation estates & 10 palm oil mills (all in Malaysia)
- Total 86,363 ha of land (70,991 ha planted, 5,494 ha unplanted)
- Total mills capacity 415 MT/hour or 1.96mil MT/year
|Immature||0 – 3||7.4|
|Young mature||4 – 9||16.6|
|Prime mature||10 – 20||59.3|
|Past prime||21 – 25||15.8|
- Plan to expand by 10,000 ha in 3 years, 20,000 ha in 5 years
- Plan to replant 4,375 ha in year 2014/15
- With high percentage of mature trees, its overall FFB yield is still below national benchmark. Not impressive.
- Overall OER is slightly above national benchmark from 2011 to 2013. This is good.
- BPLANT's gross margin 2011: 33.3%, 2012: 22.4%, 2013: 15.1%. It is in declining trend to a lowish 15%. The low CPO price surely has a major effect on it.
- Compared to gross margin of some peers chosen randomly (year 2013 figures), BPLANT is not good but not too bad either.
- UTDPLT: 39.5%
- KULIM: 32.1%
- THPLANT: 24.7%
- IJMPLANT: 23.7%
- KMLOONG: 19.4%
- IOICORP: 18.1%
- BPLANT: 15.1%
- KLK: 12.5%
- SOP: 10.5%
- FGV: 7.0%
- BLDPLANT: 6.0%
- FFB & CPO production are flat from 2011 to 2013, as 75% of trees are in prime age and may be biological tree stress from dry weather in 2013.
- Revenue & gross profit are declining from 2011 to 2013, due to weak CPO price & no growth in FFB/CPO production
- PATAMI rose YoY in 2013 mainly due to a RM92.8mil gain on disposal of plantation assets.
- ROE in 2013 is at a decent 11.6% but it is also heavily affected by the special gain.
- Cash: RM32.3mil, Loans: RM977.4mil, Net D/E: 0.53
- After IPO, Cash: RM587.2mil, Loans: RM977.4mil, Net D/E: 0.17