Upcoming Dividend • Jun 22
Upcoming dividend of RM0.06 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 17 July 2026. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of Malaysian dividend payers (5.4%). Higher than average of industry peers (3.1%). Price Target Changed • Apr 30
Price target increased by 8.0% to RM4.56 Up from RM4.22, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of RM4.55. Stock is up 51% over the past year. The company is forecast to post earnings per share of RM0.52 for next year compared to RM0.50 last year. Announcement • Apr 29
Sarawak Oil Palms Berhad, Annual General Meeting, Jun 25, 2026 Sarawak Oil Palms Berhad, Annual General Meeting, Jun 25, 2026, at 10:00 Singapore Standard Time. Location: the conference room of imperial hotel, jalan pos 98000 miri sarawak, Malaysia Declared Dividend • Apr 26
Dividend of RM0.06 announced Shareholders will receive a dividend of RM0.06. Ex-date: 29th June 2026 Payment date: 17th July 2026 Dividend yield will be 3.8%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (47% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 58% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 25
First quarter 2026 earnings released: EPS: RM0.072 (vs RM0.13 in 1Q 2025) First quarter 2026 results: EPS: RM0.072 (down from RM0.13 in 1Q 2025). Revenue: RM1.44b (flat on 1Q 2025). Net income: RM64.3m (down 44% from 1Q 2025). Profit margin: 4.5% (down from 7.9% in 1Q 2025). Revenue is forecast to stay flat during the next 3 years compared to a 3.0% growth forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 24% per year. Board Change • Apr 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 5 highly experienced directors. Non Independent & Non Executive Director Zaidi Bin Mahdi was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Mar 02
Price target decreased by 10.0% to RM3.77 Down from RM4.19, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of RM3.85. Stock is up 25% over the past year. The company is forecast to post earnings per share of RM0.52 for next year compared to RM0.50 last year. Announcement • Nov 28
Sarawak Oil Palms Berhad Announces Second Interim Single-Tier Dividend for the Financial Year Ending 31 December 2025, Payable on 29 December 2025 Sarawak Oil Palms Berhad announced Second Interim single-tier Dividend of 8.0 sen per Ordinary Share for the financial year ending 31 December 2025. Ex-Date: 11 December 2025. Entitlement date: 12 December 2025. Payment Date: 29 December 2025. Declared Dividend • Nov 27
Dividend of RM0.08 announced Shareholders will receive a dividend of RM0.08. Ex-date: 11th December 2025 Payment date: 29th December 2025 Dividend yield will be 4.1%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (8% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 9.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 1.1% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 26
Third quarter 2025 earnings released: EPS: RM0.12 (vs RM0.14 in 3Q 2024) Third quarter 2025 results: EPS: RM0.12 (down from RM0.14 in 3Q 2024). Revenue: RM1.34b (down 3.3% from 3Q 2024). Net income: RM111.0m (down 8.9% from 3Q 2024). Profit margin: 8.3% (down from 8.8% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 2.1% p.a. on average during the next 3 years, while revenues in the Food industry in Malaysia are expected to grow by 2.9%. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Nov 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Sep 19
Upcoming dividend of RM0.04 per share Eligible shareholders must have bought the stock before 26 September 2025. Payment date: 17 October 2025. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Malaysian dividend payers (5.5%). Lower than average of industry peers (3.1%). New Risk • Sep 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: RM0.10 (vs RM0.12 in 2Q 2024) Second quarter 2025 results: EPS: RM0.10 (down from RM0.12 in 2Q 2024). Revenue: RM1.31b (up 15% from 2Q 2024). Net income: RM91.9m (down 13% from 2Q 2024). Profit margin: 7.0% (down from 9.3% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 1.9% p.a. on average during the next 3 years, while revenues in the Food industry in Malaysia are expected to grow by 2.2%. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 23
Upcoming dividend of RM0.04 per share Eligible shareholders must have bought the stock before 30 June 2025. Payment date: 18 July 2025. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Malaysian dividend payers (5.6%). Lower than average of industry peers (3.4%). New Risk • May 01
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.0% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.0% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Apr 28
Sarawak Oil Palms Berhad, Annual General Meeting, Jun 26, 2025 Sarawak Oil Palms Berhad, Annual General Meeting, Jun 26, 2025, at 10:00 Singapore Standard Time. Location: the conference room of imperial hotel, jalan pos 98000 miri sarawak., Malaysia Reported Earnings • Apr 27
Third quarter 2024 earnings released: EPS: RM0.14 (vs RM0.11 in 3Q 2023) Third quarter 2024 results: EPS: RM0.14 (up from RM0.11 in 3Q 2023). Revenue: RM1.38b (up 8.5% from 3Q 2023). Net income: RM121.8m (up 29% from 3Q 2023). Profit margin: 8.8% (up from 7.4% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.5% p.a. on average during the next 4 years, compared to a 3.1% growth forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 14% per year. Declared Dividend • Apr 27
Dividend of RM0.04 announced Shareholders will receive a dividend of RM0.04. Ex-date: 30th June 2025 Payment date: 18th July 2025 Dividend yield will be 5.0%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 11% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Mar 12
Price target increased by 7.4% to RM4.34 Up from RM4.04, the current price target is an average from 4 analysts. New target price is 46% above last closing price of RM2.97. Stock is down 7.8% over the past year. The company is forecast to post earnings per share of RM0.45 for next year compared to RM0.34 last year. Major Estimate Revision • Mar 10
Consensus EPS estimates increase by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from RM5.04b to RM5.39b. EPS estimate increased from RM0.456 to RM0.51 per share. Net income forecast to grow 4.7% next year vs 7.3% growth forecast for Food industry in Malaysia. Consensus price target up from RM4.04 to RM4.34. Share price was steady at RM3.07 over the past week. Price Target Changed • Mar 03
Price target increased by 7.4% to RM4.34 Up from RM4.04, the current price target is an average from 4 analysts. New target price is 40% above last closing price of RM3.09. Stock is up 2.7% over the past year. The company is forecast to post earnings per share of RM0.51 for next year compared to RM1.00 last year. Reported Earnings • Mar 01
Full year 2024 earnings released: EPS: RM0.50 (vs RM0.34 in FY 2023) Full year 2024 results: EPS: RM0.50 (up from RM0.34 in FY 2023). Revenue: RM5.31b (up 3.7% from FY 2023). Net income: RM446.7m (up 49% from FY 2023). Profit margin: 8.4% (up from 5.9% in FY 2023). Revenue is forecast to stay flat during the next 3 years compared to a 3.7% growth forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Dec 05
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from RM4.84b to RM4.91b. EPS estimate increased from RM0.40 to RM0.451 per share. Net income forecast to shrink 3.7% next year vs 10% growth forecast for Food industry in Malaysia . Consensus price target up from RM3.56 to RM3.86. Share price rose 4.4% to RM3.55 over the past week. Declared Dividend • Nov 30
Dividend of RM0.07 announced Shareholders will receive a dividend of RM0.07. Ex-date: 12th December 2024 Payment date: 30th December 2024 Dividend yield will be 4.9%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 6.2% over the next 2 years. However, it would need to fall by 76% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Nov 29
Third quarter 2024 earnings released: EPS: RM0.14 (vs RM0.11 in 3Q 2023) Third quarter 2024 results: EPS: RM0.14 (up from RM0.11 in 3Q 2023). Revenue: RM1.38b (up 8.5% from 3Q 2023). Net income: RM121.8m (up 29% from 3Q 2023). Profit margin: 8.8% (up from 7.4% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Price Target Changed • Nov 29
Price target increased by 8.4% to RM3.86 Up from RM3.56, the current price target is an average from 4 analysts. New target price is 11% above last closing price of RM3.47. Stock is up 32% over the past year. The company is forecast to post earnings per share of RM0.45 for next year compared to RM0.34 last year. Upcoming Dividend • Sep 10
Upcoming dividend of RM0.04 per share Eligible shareholders must have bought the stock before 17 September 2024. Payment date: 17 October 2024. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Malaysian dividend payers (4.7%). Higher than average of industry peers (2.8%). Reported Earnings • Aug 30
Second quarter 2024 earnings released: EPS: RM0.12 (vs RM0.054 in 2Q 2023) Second quarter 2024 results: EPS: RM0.12 (up from RM0.054 in 2Q 2023). Revenue: RM1.14b (down 3.0% from 2Q 2023). Net income: RM105.7m (up 120% from 2Q 2023). Profit margin: 9.3% (up from 4.1% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is expected to decline by 1.9% p.a. on average during the next 3 years, while revenues in the Food industry in Malaysia are expected to grow by 3.1%. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Board Change • Jun 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non Independent & Non Executive Director Zaidi Bin Mahdi was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. New Risk • May 24
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.07% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.07% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (5.9% net profit margin). Declared Dividend • May 02
Final dividend of RM0.06 announced Dividend of RM0.06 is the same as last year. Ex-date: 27th June 2024 Payment date: 19th July 2024 Dividend yield will be 3.3%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 9.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 1.1% over the next 3 years. However, it would need to fall by 58% to increase the payout ratio to a potentially unsustainable range. Announcement • Apr 28
Sarawak Oil Palms Berhad, Annual General Meeting, Jun 26, 2024 Sarawak Oil Palms Berhad, Annual General Meeting, Jun 26, 2024. Agenda: To consider the proposed renewal of shareholders’ mandate for recurrent related party transactions of a revenue or trading natur. Announcement • Mar 14
Sarawak Oil Palms Berhad Announces Resignation of Datu Monaliza Binti Zaidel as Non Independent and Non Executive Director Sarawak Oil Palms Berhad announced resignation of Datu Monaliza Binti Zaidel as Non Independent and Non Executive Director due to retirement from government service, effective March 13, 2024. Age is 60. New Risk • Mar 01
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.0% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.0% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (5.9% net profit margin). Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: RM0.34 (vs RM0.55 in FY 2022) Full year 2023 results: EPS: RM0.34 (down from RM0.55 in FY 2022). Revenue: RM5.12b (down 3.5% from FY 2022). Net income: RM300.5m (down 37% from FY 2022). Profit margin: 5.9% (down from 9.0% in FY 2022). Revenue is expected to decline by 5.0% p.a. on average during the next 3 years, while revenues in the Food industry in Malaysia are expected to grow by 4.7%. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 6% per year. Upcoming Dividend • Dec 12
Upcoming dividend of RM0.04 per share at 4.7% yield Eligible shareholders must have bought the stock before 19 December 2023. Payment date: 12 January 2024. Payout ratio is a comfortable 38% but the company is paying out more than the cash it is generating. Trailing yield: 4.7%. Lower than top quartile of Malaysian dividend payers (5.1%). Higher than average of industry peers (3.3%). Announcement • Dec 02
Sarawak Oil Palms Berhad Announces Interim Single-Tier Dividend for the Financial Year Ending 31 December 2023, Payable on 12 January 2024 Sarawak Oil Palms Berhad announced interim single-tier dividend of 4.0 sen per ordinary share for the Financial Year ending 31 December 2023. Ex-Date is 19 December 2023, Entitlement date is 20 December 2023 and Payment Date is 12 January 2024. Reported Earnings • Nov 30
Third quarter 2023 earnings released: EPS: RM0.11 (vs RM0.092 in 3Q 2022) Third quarter 2023 results: EPS: RM0.11 (up from RM0.092 in 3Q 2022). Revenue: RM1.27b (down 3.8% from 3Q 2022). Net income: RM94.6m (up 15% from 3Q 2022). Profit margin: 7.4% (up from 6.2% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is expected to decline by 9.1% p.a. on average during the next 3 years, while revenues in the Food industry in Malaysia are expected to grow by 2.5%. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 30
Price target increased by 8.8% to RM2.90 Up from RM2.67, the current price target is an average from 4 analysts. New target price is 12% above last closing price of RM2.60. Stock is up 1.2% over the past year. The company is forecast to post earnings per share of RM0.28 for next year compared to RM0.55 last year. Reported Earnings • Aug 26
Second quarter 2023 earnings released: EPS: RM0.054 (vs RM0.17 in 2Q 2022) Second quarter 2023 results: EPS: RM0.054 (down from RM0.17 in 2Q 2022). Revenue: RM1.18b (down 16% from 2Q 2022). Net income: RM48.1m (down 69% from 2Q 2022). Profit margin: 4.1% (down from 11% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to decline by 10.0% p.a. on average during the next 3 years, while revenues in the Food industry in Malaysia are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jul 25
Price target increased by 11% to RM2.70 Up from RM2.44, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of RM2.75. Stock is up 3.8% over the past year. The company is forecast to post earnings per share of RM0.28 for next year compared to RM0.55 last year. Upcoming Dividend • Jun 21
Upcoming dividend of RM0.06 per share at 4.8% yield Eligible shareholders must have bought the stock before 28 June 2023. Payment date: 14 July 2023. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Malaysian dividend payers (5.4%). Higher than average of industry peers (3.9%). Reported Earnings • May 20
First quarter 2023 earnings released: EPS: RM0.05 (vs RM0.23 in 1Q 2022) First quarter 2023 results: EPS: RM0.05 (down from RM0.23 in 1Q 2022). Revenue: RM1.21b (down 16% from 1Q 2022). Net income: RM44.2m (down 77% from 1Q 2022). Profit margin: 3.7% (down from 14% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to decline by 9.0% p.a. on average during the next 3 years, while revenues in the Food industry in Malaysia are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 01
Price target decreased by 8.7% to RM2.54 Down from RM2.78, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of RM2.55. Stock is down 41% over the past year. The company is forecast to post earnings per share of RM0.34 for next year compared to RM0.54 last year. Buying Opportunity • Mar 01
Now 22% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be RM3.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 53%. For the next 3 years, revenue is forecast to decline by 11% per annum. Earnings is also forecast to decline by 15% per annum over the same time period. Reported Earnings • Nov 26
Third quarter 2022 earnings released: EPS: RM0.093 (vs RM0.15 in 3Q 2021) Third quarter 2022 results: EPS: RM0.093 (down from RM0.15 in 3Q 2021). Revenue: RM1.32b (up 1.7% from 3Q 2021). Net income: RM82.3m (down 34% from 3Q 2021). Profit margin: 6.2% (down from 9.6% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 16% p.a. on average during the next 3 years compared to a 1.6% decline forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 16
Price target decreased to RM2.77 Down from RM3.02, the current price target is an average from 4 analysts. New target price is 5.4% above last closing price of RM2.63. Stock is up 9.0% over the past year. The company is forecast to post earnings per share of RM0.60 for next year compared to RM0.59 last year. Announcement • Oct 01
Sarawak Oil Palms Berhad Demises Kamri Bin Ramlee as Non Independent and Non Executive Director Sarawak Oil Palms Berhad demised Kamri Bin Ramlee as Non Independent and Non Executive Director. Date of change is 30 September 2022. Price Target Changed • Sep 30
Price target decreased to RM2.77 Down from RM3.02, the current price target is an average from 4 analysts. New target price is 27% above last closing price of RM2.19. Stock is down 8.5% over the past year. The company is forecast to post earnings per share of RM0.60 for next year compared to RM0.59 last year. Upcoming Dividend • Sep 07
Upcoming dividend of RM0.04 per share Eligible shareholders must have bought the stock before 14 September 2022. Payment date: 06 October 2022. Payout ratio is a comfortable 10% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Malaysian dividend payers (5.0%). Lower than average of industry peers (3.5%). Price Target Changed • Aug 29
Price target decreased to RM3.02 Down from RM3.56, the current price target is an average from 5 analysts. New target price is 9.7% above last closing price of RM2.75. Stock is up 10% over the past year. The company is forecast to post earnings per share of RM0.56 for next year compared to RM0.59 last year. Announcement • Aug 27
Sarawak Oil Palms Berhad Announces Interim Single-Tier Dividend for the Financial Year Ending 31 December 2022, Payable on 06 October 2022 Sarawak Oil Palms Berhad announced Interim single-tier dividend of 4.0 sen per ordinary share for the Financial Year ending 31 December 2022. Ex-Date 14 Sep 2022, Entitlement date 15 Sep 2022. Payment Date 06 Oct 2022. Reported Earnings • Aug 27
Second quarter 2022 earnings released: EPS: RM0.17 (vs RM0.12 in 2Q 2021) Second quarter 2022 results: EPS: RM0.17 (up from RM0.12 in 2Q 2021). Revenue: RM1.40b (up 48% from 2Q 2021). Net income: RM154.5m (up 57% from 2Q 2021). Profit margin: 11% (in line with 2Q 2021). Over the next year, revenue is expected to shrink by 18% compared to a 1.0% decline forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Aug 12
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from RM5.21b to RM5.13b. EPS estimate rose from RM0.64 to RM0.70. Net income forecast to shrink 23% next year vs 14% growth forecast for Food industry in Malaysia . Consensus price target up from RM3.59 to RM3.80. Share price rose 3.3% to RM2.78 over the past week. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment deteriorated over the past week After last week's 31% share price decline to RM2.59, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 10x in the Food industry in Malaysia. Total returns to shareholders of 20% over the past three years. Price Target Changed • Jul 02
Price target decreased to RM5.60 Down from RM6.32, the current price target is an average from 5 analysts. New target price is 37% above last closing price of RM4.09. Stock is up 19% over the past year. The company is forecast to post earnings per share of RM0.88 for next year compared to RM0.89 last year. Upcoming Dividend • Jun 22
Upcoming dividend of RM0.06 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 15 July 2022. Payout ratio is a comfortable 9.1% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Malaysian dividend payers (4.9%). Lower than average of industry peers (3.5%). Major Estimate Revision • May 30
Consensus revenue estimates increase by 13% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from RM4.39b to RM4.95b. EPS estimate increased from RM0.68 to RM0.88 per share. Net income forecast to shrink 26% next year vs 13% growth forecast for Food industry in Malaysia . Consensus price target up from RM6.00 to RM6.32. Share price fell 6.7% to RM5.60 over the past week. Price Target Changed • May 24
Price target increased to RM6.07 Up from RM5.67, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of RM5.90. Stock is up 50% over the past year. The company is forecast to post earnings per share of RM0.73 for next year compared to RM0.89 last year. Reported Earnings • May 03
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: RM0.89 (up from RM0.36 in FY 2020). Revenue: RM4.43b (up 60% from FY 2020). Net income: RM509.9m (up 150% from FY 2020). Profit margin: 12% (up from 7.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 24%. Over the next year, revenue is forecast to stay flat compared to a 7.1% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improved over the past week After last week's 24% share price gain to RM6.68, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Food industry in Malaysia. Total returns to shareholders of 169% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at RM9.86 per share. Announcement • Mar 01
Sarawak Oil Palms Berhad Announces Vacation of Office of Tan Sri Datuk Ling Chiong Ho as Group Executive Chairman Sarawak Oil Palms Berhad announced Vacation of Office of TAN SRI DATUK LING CHIONG HO as Group Executive Chairman, Date of change is March 1, 2022. Reported Earnings • Feb 27
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: RM0.89 (up from RM0.36 in FY 2020). Revenue: RM4.43b (up 60% from FY 2020). Net income: RM511.2m (up 151% from FY 2020). Profit margin: 12% (up from 7.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to stay flat compared to a 3.6% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Price Target Changed • Feb 25
Price target increased to RM5.30 Up from RM4.79, the current price target is an average from 5 analysts. New target price is 10% below last closing price of RM5.90. Stock is up 51% over the past year. The company is forecast to post earnings per share of RM0.72 for next year compared to RM0.36 last year. Announcement • Feb 25
Sarawak Oil Palms Berhad Appoints Tan Sri Datuk Ling Chiong Ho as Group Executive Chairman Sarawak Oil Palms Berhad announced the appointment of Tan Sri Datuk Ling Chiong Ho as Group Executive Chairman, Date of change is March 1, 2022. 
