Mewah International

Mewah International

Postby winston » Wed Nov 24, 2010 8:47 am

Not vested

Shares of palm oil refiner Mewah International are likely to be in focus as it makes its Singapore market debut. It sold 251.7 million shares at S$1.10 each, which was about 1.9 times subscribed, the firm said in a statement.


Source: Reuters
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: Mewah International

Postby winston » Wed Nov 24, 2010 11:54 am

Not vested

UPDATE 1-S'pore's Mewah shares in weak debut

* Mewah takes a beating on volatile markets
* Company prices IPO below indicative range
* Mewah to be hit by rising input prices - analysts

By Charmian Kok SINGAPORE, Nov 24 (Reuters) - Shares of palm oil refiner Mewah International fell as much as 13 percent on their debut on jittery global markets, marking one of the weakest IPO performances in Singapore in recent months.

Mewah's S$277 million ($213 million) listing comes as an IPO boom sweeps across Asia, with more than two-thirds of the global volume in 2010 raised in the region, powered by strong economic growth.

"Mewah's IPO tanked. I think it's somewhat sentiment-driven and also the fundamentals do play a part in it," Terence Wong, co-head of research at DMG & Partners, said on Wednesday.

Mewah shares traded at S$1.0, 9.0 percent below their initial public offering price of S$1.10 in a market <.FTSTI> up 0.4 percent. More than 33 million shares were traded, making Mewah the fourth-most actively traded stock by volume on the Singapore exchange.

Mewah, which produces vegetable oil products for sale to wholesalers, retailers, and supermarkets such as Carrefour , plans to expand its refining capacities and boost its revenue by tapping fast-growing markets including China, where demand for edible oils and fats products is growing.

With operations in Singapore and Malaysia, Mewa had priced its IPO below its indicative range of S$1.25-S$1.55.

"The subscription for the IPO wasn't really fantastic and it was priced below its indicative range, which could also have acted against the stock too," said Carey Wong, an investment analyst at OCBC Investment Research.

Mewah says it is one of Asia's biggest edible oils processing firms with a total refining capacity of 8,000 tonnes per day. The IPO was 1.9 times subscribed.

The palm oil processor, unlike plantation owners such as Golden Agri, may also see their margins squeezed by rising palm oil and input prices, Wong added. Mewah does not own plantations.

Credit Suisse was the sole global coordinator, bookrunner, underwriter and issue manager for Mewah's IPO.


Source: Reuters
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: Mewah International

Postby winston » Wed Nov 24, 2010 2:46 pm

Not vested. From Kim Eng:-

PE 14

Reasonably priced. At $1.10 per share, Mewah is priced at a historical PER of 14.3x,
which is lower than its peers (see table).

However, looking at its 1H10 numbers, there could be a decline in profitability in the current year.

We are neutral on the attractiveness of the IPO, based on fundamentals alone.


http://www.remisiers.org/cms_images/ssu23112010ke.pdf
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: Mewah International

Postby winston » Wed Dec 08, 2010 1:02 pm

Not vested

Palm oil refiner Mewah International rose as much as 4.3 percent after Nomura initiated coverage on the firm with a "buy" rating, adding that the company offers stable margin exposure and its valuations are also more attractive compared to peers such as Wilmar .

Source: Reuters
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: Mewah International

Postby winston » Mon Feb 14, 2011 8:18 am

Not vested

MEWAH INTERNATIONAL - Singapore-listed palm oil refiner Mewah International said on Friday it will invest an additional $200 million to buy land for building consumer pack products and logistics facilities in Zhangjiagang, China.


Source: Reuters
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: Mewah International

Postby winston » Mon Mar 07, 2011 1:44 pm

Not vested

INTERVIEW-Singapore's Mewah eyeing China, Indonesia for projects

SINGAPORE, March 7 (Reuters) - Singapore-listed palm oil refiner Mewah International is looking at China and Indonesia, as potential sites for its refinery projects in the medium term, its chief financial officer said on Monday.

Rajesh Chopra also said crude palm oil prices could fall by as much 13 percent in the short term after a strong rally, but long-term bullish sentiment for the commodity will be intact due to strong demand.

"Palm oil demand growth is expected to outpace supply growth and the same should put pressure on prices in the long run," Chopra told Reuters in an interview.

"Prices have increased sharply in the last six months, though there has been some easing up recently. There could be a further price correction in the near term from current levels of around 3,600 ringgit ($1,188.3) to probably 3,200 or 3,300 ringgit before they start increasing again."

Malaysia's benchmark palm oil price has rallied from a low of 1,331 ringgit per tonne during the 2008 financial crisis to as high as 3,967 ringgit last month. It traded at around 3,692 ringgit per tonne by midday on Monday.


Source: Reuters
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: Mewah International

Postby winston » Fri Oct 14, 2011 11:39 am

Singapore Hot Stocks-Mewah surges on bargain hunting

SINGAPORE, Oct 14 (Reuters) - Shares of Singapore-listed palm oil firm Mewah International Inc surged nearly 9 percent on Friday, on bargain hunting after a steep plunge over the last two months and firm outlook for palm oil.

At 0300 GMT, shares of Mewah were 7.7 percent higher at S$0.42 with over 15.1 million shares changing hands. This was 3.3 times its average daily volume over the last five sessions.

Mewah's share price had fallen about 50 percent since August, compared to a 14.3 percent plunge in the benchmark Straits Times Index <.FTSTI>.

"Mewah has been a laggard relative to the rest of the market and on the technicals front, it has fallen to levels attractive for bargain hunters to come in again," said Lee Wen Ching, an analyst at CIMB Research.

"In the longer-term, demand for palm oil remain steady as food and agriculture remains one of the bright spots in the commodity space," said a local trader.

Source: Reuters
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: Mewah International

Postby winston » Mon Jan 30, 2012 8:12 am

not vested

Palm oil firm Mewah said a court has dismissed all charges against its subsidiary Mewah-Oils Sdn Bhd and its chairman Cheo Tong Choon.

Both had been accused of receiving stolen crude palm oil and falsifying customs-related documents.

Source: Reuters
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: Mewah International

Postby winston » Wed Feb 29, 2012 11:09 am

not vested

Palm oil firm Mewah International said its fourth quarter net profit plunged 65 percent to $12.7 million from a year ago, hurt by lower sales from its bulk segment and higher costs.

Its earnings, however, doubled on a quarter-on-quarter basis.

Source: Reuters
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: Mewah International

Postby winston » Mon Nov 12, 2012 8:35 am

not vested

Palm oil firm Mewah said its third-quarter net profit fell 82 percent to $1.2 million from a year earlier, hurt by lower sales volume and weaker selling prices.

Source: Reuters
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Next

Return to L to R

Who is online

Users browsing this forum: No registered users and 6 guests

cron