Remember the LORD for it is he who gives you the ability to produce wealth and so confirms his covenant... Deut. 8:18

Wednesday, July 24, 2013

CPO price continues to tumble

CPO price continues to slide below USD 700 (RM 2230).
This is not conducive for the earnings of our local planters and is the reason why quarterly earnings have been plunging ... Read the full report below :-
Palm Oil Tumbles to Lowest Since 2009 as Global Supplies Climb
Providing more exposure to plantation stocks
Cepatwawasan 2Q profit falls 46% yoy on lower palm oil prices
Cepat at 94c (nta 132, Q/Qeps 1.7/ 1.9/ 1.1/ 1.2/ latest 0.9 sen ) PE= 94/5.1= 18 which is on the high side