SGX:E5H

Stock Analysis Report

Executive Summary

Golden Agri-Resources Ltd, an investment holding company, operates as an integrated palm oil plantation company in China, Indonesia, India, Rest of Asia, Europe, and internationally.

Snowflake

Fundamentals

Reasonable growth potential and fair value.


Similar Companies

Share Price & News

How has Golden Agri-Resources's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0%

SGX:E5H

1.1%

SG Food

1.4%

SG Market


1 Year Return

10.4%

SGX:E5H

11.4%

SG Food

0.2%

SG Market

E5H underperformed the Food industry which returned 11.4% over the past year.

E5H outperformed the Market in Singapore which returned 0.2% over the past year.


Share holder returns

E5HIndustryMarket
7 Day0%1.1%1.4%
30 Day-8.6%2.3%2.0%
90 Day-5.4%6.5%-1.7%
1 Year12.7%10.4%14.5%11.4%4.3%0.2%
3 Year-20.7%-25.4%6.8%-1.2%17.3%4.8%
5 Year-44.5%-49.0%-7.5%-17.9%9.9%-8.3%

Price Volatility Vs. Market

How volatile is Golden Agri-Resources's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Golden Agri-Resources undervalued based on future cash flows and its price relative to the stock market?

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Golden Agri-Resources's share price is below the future cash flow value, and at a moderate discount (> 20%).

Golden Agri-Resources's share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

Golden Agri-Resources is loss making, we can't compare its value to the SG Food industry average.

Golden Agri-Resources is loss making, we can't compare the value of its earnings to the Singapore market.


Price Based on Expected Growth

Unable to calculate PEG ratio for Golden Agri-Resources, we can't assess if its growth is good value.


Price Based on Value of Assets

Golden Agri-Resources is good value based on assets compared to the SG Food industry average.


Next Steps

Future Growth

How is Golden Agri-Resources expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

89.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Golden Agri-Resources's revenue is expected to grow by 7.3% yearly, however this is not considered high growth (20% yearly).

Golden Agri-Resources's earnings are expected to grow significantly at over 20% yearly.

Golden Agri-Resources's revenue growth is expected to exceed the Singapore market average.

Golden Agri-Resources's earnings growth is expected to exceed the Singapore market average.

Golden Agri-Resources's earnings growth is expected to exceed the low risk savings rate of 2.3%.


Earnings per Share Growth Estimates


Future Return on Equity

Golden Agri-Resources is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Golden Agri-Resources performed over the past 5 years?

-23.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Golden Agri-Resources does not make a profit and their year on year earnings growth rate was negative over the past 5 years.

Unable to compare Golden Agri-Resources's 1-year earnings growth to the 5-year average as it is not currently profitable.

Unable to compare Golden Agri-Resources's 1-year growth to the SG Food industry average as it is not currently profitable.


Return on Equity

It is difficult to establish if Golden Agri-Resources has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.


Return on Assets

Golden Agri-Resources used its assets less efficiently than the SG Food industry average last year based on Return on Assets.


Return on Capital Employed

It is difficult to establish if Golden Agri-Resources improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.


Next Steps

Financial Health

How is Golden Agri-Resources's financial position?


Financial Position Analysis

Golden Agri-Resources is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Golden Agri-Resources's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Golden Agri-Resources's level of debt (71.2%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (32.1% vs 71.2% today).

Debt is not well covered by operating cash flow (17.6%, less than 20% of total debt).

Golden Agri-Resources is making a loss, therefore interest payments are not well covered by earnings.


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.9x debt.


Next Steps

Dividend

What is Golden Agri-Resources's current dividend yield, its reliability and sustainability?

1.28%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Golden Agri-Resources's pays a lower dividend yield than the bottom 25% of dividend payers in Singapore (2.51%).

Golden Agri-Resources's dividend is below the markets top 25% of dividend payers in Singapore (5.63%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

The company is paying a dividend however it is incurring a loss.


Future Payout to Shareholders

No need to calculate the sustainability of Golden Agri-Resources's dividends in 3 years as they are not expected to pay a notable one for Singapore.


Next Steps

Management

What is the CEO of Golden Agri-Resources's salary, the management and board of directors tenure and is there insider trading?

13.7yrs

Average management tenure


CEO

Franky Widjaja (61yo)

23.7yrs

Tenure

0

Mr. Franky Oesman Widjaja has been the Chief Executive Officer and Executive Director of Golden Agri-resources Ltd since 1996. Mr. Widjaja serves as the Head of the Agri-Business and Consumer Food Products ...


Management Age and Tenure

13.7yrs

Average Tenure

56yo

Average Age

The average tenure for the Golden Agri-Resources management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

9.4yrs

Average Tenure

65yo

Average Age

The tenure for the Golden Agri-Resources board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

BuyUS$750,000,00913 Dec 18
PT Sinar Mas Group
EntityCompany
Shares750,000,000
Max PriceUS$1.00
SellUS$750,000,00913 Dec 18
PT Sinar Mas Group
EntityCompany
Shares750,000,000
Max PriceUS$1.00

Ownership Breakdown


Management Team

  • Rafael Concepcion (52yo)

    CFO & Executive Director

    • Tenure: 17.1yrs
  • Franky Widjaja (61yo)

    Chairman & CEO

    • Tenure: 23.7yrs
  • Muktar Widjaja (65yo)

    President & Executive Director

    • Tenure: 20.7yrs
  • Hemant Bhatt (56yo)

    Head of Downstream & Commercial

    • Tenure: 0yrs
  • Paul Hickman (53yo)

    Head of Global Vegetable Oils & Oilseeds

    • Tenure: 7.7yrs
  • Harjanto Tanuwidjaja

    Chief Human Resources Officer

    • Tenure: 0yrs
  • Khoo Yeow

    Chief Information Officer

    • Tenure: 0yrs
  • Pedy Harianto

    Head of Controllership & Compliance

    • Tenure: 0yrs
  • Anita Neville

    Vice President of Corporate Communications & Sustainability Relations

    • Tenure: 0yrs
  • Richard Fung

    Director of Investor Relations

    • Tenure: 0yrs

Board Members

  • Syn Pau Lew (65yo)

    Non-Executive Lead Independent Director

    • Tenure: 2.3yrs
  • Meng-Kee Foo (69yo)

    Non-Executive Independent Director

    • Tenure: 2.4yrs
  • Rafael Concepcion (52yo)

    CFO & Executive Director

    • Tenure: 17.1yrs
  • Franky Widjaja (61yo)

    Chairman & CEO

    • Tenure: 23.7yrs
  • Muktar Widjaja (65yo)

    President & Executive Director

    • Tenure: 20.7yrs
  • Kaneyalall Hawabhay (71yo)

    Independent Non-Executive Director

    • Tenure: 16.3yrs
  • William Chung (62yo)

    Non-Executive Independent Director

    • Tenure: 2.4yrs
  • Christian G. H. de Charnace

    Non-Executive Independent Director

    • Tenure: 0.8yrs

Company Information

Golden Agri-Resources Ltd's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Golden Agri-Resources Ltd
  • Ticker: E5H
  • Exchange: SGX
  • Founded: 1996
  • Industry: Agricultural Products
  • Sector: Food, Beverage & Tobacco
  • Market Cap: S$3.502b
  • Shares outstanding: 12.73b
  • Website: https://www.goldenagri.com.sg

Number of Employees


Location

  • Golden Agri-Resources Ltd
  • No. 06-00 Golden agri Plaza
  • 108 Pasir Panjang Road
  • Singapore
  • 118535
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GARP.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJul 1999
E5HSGX (Singapore Exchange)YesOrdinary SharesSGSGDJul 1999
4G3ADB (Deutsche Boerse AG)YesOrdinary SharesDEEURJul 1999
GARP.YOTCPK (Pink Sheets LLC)ADRUSUSDNov 2008

Biography

Golden Agri-Resources Ltd, an investment holding company, operates as an integrated palm oil plantation company in China, Indonesia, India, Rest of Asia, Europe, and internationally. It operates in two seg ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/17 12:42
End of Day Share Price2019/09/17 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.