Just read CIMB's report on regional plantation sector being upgraded to trading buy from neutral. Hap Seng Plantations is the cheapest in KLSE according to CIMB. I think a more appropriate phrase should be "the cheapest plantation counter IN OUR COVERAGE" as many of you might have known there are way cheaper plantation counters out there with lower valuations and higher growth prospects (available land, existing immature plantations etc). In the list above, HSPlnt has the lowest immature plantation hectarage and little available land for plantation, thus where is the growth coming from? Continue searching for available land (expensive land and another few years of waiting to bear fruit) or acquiring existing plantations (even more expensive)? Anyway, just something for you to chew on.
Maybank initiating report on TWS. Report mentioned sugar division almost free? Hmm...Not exactly, it comes at a price as well in the form of borrowings. Anyhow, TWS' equity stake in Bernas and TWSP should account for about RM2.87bil out of its total mkt cap of RM3.1bil. By attaching PER of 14x to its sugar division's profit of RM190mil, TWS should be valued at RM5.53bil. Minus off its debt of around RM800mil (excluding TWSP and Bernas debts which have been accounted for in their market values), TWS' fair value should be around RM4.7bil, or RM16.00 per share.
TDM seems to be going through correction now, but will be temporary as it's still trading at very cheap valuations. This would be an opportunity for you to pick up for long term investment.