Kim Loong Resources / Gooi Seong Lim

Kim Loong Resources / Gooi Seong Lim

Postby winston » Wed Dec 10, 2014 1:09 pm

not vested

Kim Loong Resources Bhd ( Financial Dashboard) is shaping out to be a high dividend yielding stock, due to a cash-rich balance sheet and above-average yields for its plantations. The company has 15,928 ha of plantation land in Johor, Sabah and Sarawak, and three mills.

While most larger plantation stocks are trading on high P/E ratios of over 20 times, the smaller ones are trading at much lower valuations, which suggest better upside prospects when palm oil prices eventually recover next year due to cyclically lower production growth.

Kim Loong is one of the cheapest stocks in the sector, trading at a 12-month trailing PE ratio of just 10 times and 1.4 times book. In addition, its cash rich balance sheet and consistent payouts appeal to those seeking high dividends.

As at 2QFY2015, net cash stood at RM243.3 million or 78.3 sen per share, equivalent to almost one-third of the current share price of RM2.88.

Historically, Kim Loong has been paying out dividends since 2001, with minimum annual dividend of 10 sen over the past five years. In FY2014, it paid out 13 sen, which translates to a yield of 4.5%.

Despite volatile palm oil prices, its pre-tax profit has been relatively stable, ranging between RM79.5 million and RM95.4 million over the last five years, except for a surge to RM165 million in FY Jan 2012. Revenue hovered between RM451.5 million and RM768.3 million in the same period.

In FY2014, revenue rose a marginal 0.5% to RM640.4 million while net profit rose 13.2% to RM61.1 million. For 1HFY2015, revenue rose 48.3% to RM414.3 million while net profit surged 82.3% to RM46.5 million.

With some 87% of Kim Loong’s trees already matured, future growth will be driven by the development of 1,700 ha tract in Sarawak secured late last year.

Source: The Edge
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winston
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Re: Kim Loong Resources

Postby winston » Sun Feb 05, 2017 10:28 pm

GOOI SEONG LIM & brothers
Flagships: Kim Loong Resources Bhd and Crescendo Corp Bhd
Net worth: RM1.06bil

GOOI Seong Lim, 67, is a trained engineer and has been with oil palm planter Kim Loong Resources since 1990, where he was managing director (MD) up until March 2006.

He is currently the firm’s executive chairman.

Gooi and his siblings control about two-thirds of the shares in Kim Loong.

The stock earlier this month shot up to an all-time high of RM3.46, after having risen 20% over the past one year in tandem with the higher price of crude palm oil (CPO).

At RM3.44 yesterday, the company’s market value stood at RM1.07bil. This accounts for a significant portion of the Gooi brothers’ growing wealth.

The siblings are also substantial shareholders in Johor-based property developer and construction firm Crescendo Corp, where Gooi is the chairman and MD.

The company’s exposure in industrial property and projects is concentrated in the Johor region, and that could limit its upside potential, analysts say, given the weak outlook.

Whilst the weak ringgit will help to keep CPO prices buoyant, which is positive for Kim Loong, it has also dented domestic confidence that continues to keep prospective property buyers on the sidelines.

Source: The Star
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Re: Kim Loong Resources / Gooi Seong Lim

Postby winston » Sat Dec 28, 2019 7:38 am

not vested

Kim Loong Resources Bhd saw its third-quarter net profit ended Oct 31, 2019 (3QFY19) decline 18% to RM13.79 million, from RM16.83 million a year earlier, following the lower performance from its plantation and palm oil milling segments, as a result of low crude palm oil prices.

Quarterly revenue fell 23% to RM175.31 million, from RM227.64 million.

For the first nine months (9MFY19), net profit declined 21% to RM38.71 million from RM48.98 million previously, with revenue falling 26% to RM498.59 million from RM674.42 million.

Source: The Edge
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Re: Kim Loong Resources / Gooi Seong Lim

Postby winston » Thu Jan 07, 2021 10:39 am

not vested

Kim Loong Resources (KIML MK/BUY/Target: RM1.80).

We like KIML for its pure upstream exposure, better earnings generation from palm by-products and also its higher than-peers dividend yield at about 6%.

Source: UOBKH
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