Thursday, 17 March 2011 11:17
KUALA LUMPUR: Timber-related stocks advanced on Thursday, March 17 on expectations of an increase in demand for products following the earthquake in Japan last Friday.
AmResearch has maintained its overweight rating on the timber sector and its buy call on Ta Ann and Jaya Tiasa, with fair values of RM6.30 and RM6 respectively.
The research house said that the Ta Ann management informed it that there had been no supply disruption so far to Japan.
“Orders are placed once or twice in a month. Its shipments go through Osaka, south of Tokyo in the central-southern region, which was not affected by the tsunami,” it said.
Meanwhile, MIDF Research in a note March 17 said local timber companies will be the main beneficiary when Japans starts to rebuild the earthquake disaster areas as Malaysia is their largest plywood exporter accounting for 48% of Japan’s total plywood.
Japan imports more than 50% of the total plywood for its consumption, it said.
“We believe the main beneficiary will be WTK and Ta Ann since these companies exposure to the Japan market is about 80-90% of their plywood sales.
“Between them, WTK has greater leverage since it is a pure timber company compared to Ta Ann whose earnings mainly comes from CPO with its plywood division registering loss due to the usage of more costly eco-friendly raw material sourced from its Tasmanian operation.
Lingui is the other beneficiary as it has close to 50% exposure to Japan’s plywood sales, it said
*source the edge
Thursday, March 17, 2011
Wednesday, March 16, 2011
World Largest Glove Maker : Top Glove
TOP GLOVE CORPORATION BHD
Net profit for the second quarter ended Feb 28, 2011 fell 63.9% to RM25.41 million from RM70.53 million a year earlier, due mainly to persistently high latex prices and the continued weakening of the US dollar coupled with the time lag in passing on the higher costs to its customers,
Revenue for the period fell to RM485.21 million from RM509.89 million last year.
Earnings per share was 4.11 sen while net assets per share was RM1.82.
For the six months ended Feb 28, Top Glove’s net profit tumbled to RM61.46 million from RM135.73 million last year, on the back of revenue RM976.72 million.
Reviewing its performance, Top Glove said the decline in performance comparing with last year was also due to the exceptionally high sales volume experienced last year during the H1N1 flu virus outbreak.
It said on Wednesday, March 16 that in order to mitigate latex cost increases in the future, the company had started moving upstream by acquiring land by diversifying into rubber PLANTATION.
“Top Glove is also dedicating more production lines to produce nitrile gloves, which command better margins and not subjected to the volatility in latex prices,” it said.
The company said it continued to maintain its strong balance sheet position with net cash and short term investments of RM207 million despite higher working capital requirement from the escalating latex price.
Top Glove chairman Tan Sri Lim Wee Chai said it was a challenging period, as the company faced substantial increases in its main raw material costs and adverse foreign exchange movements.
“Nevertheless, we have started to revise our latex glove prices and it is starting to arrest the decline in our revenue. We are also rigorously mitigating the impact of foreign exchange through hedging with forward contracts,” he said.
Lim said Top Glove's long-standing business relationship with its customers had enabled it to seek their understanding in passing on part of the increased raw material costs to them.
“Even though in the short term we expect the business conditions to remain difficult, I am encouraged by our prospects going forward while we take actions to strengthen the Group and improve returns to shareholders,” said Lim.
(Source : The Edge)
Net profit for the second quarter ended Feb 28, 2011 fell 63.9% to RM25.41 million from RM70.53 million a year earlier, due mainly to persistently high latex prices and the continued weakening of the US dollar coupled with the time lag in passing on the higher costs to its customers,
Revenue for the period fell to RM485.21 million from RM509.89 million last year.
Earnings per share was 4.11 sen while net assets per share was RM1.82.
For the six months ended Feb 28, Top Glove’s net profit tumbled to RM61.46 million from RM135.73 million last year, on the back of revenue RM976.72 million.
Reviewing its performance, Top Glove said the decline in performance comparing with last year was also due to the exceptionally high sales volume experienced last year during the H1N1 flu virus outbreak.
It said on Wednesday, March 16 that in order to mitigate latex cost increases in the future, the company had started moving upstream by acquiring land by diversifying into rubber PLANTATION.
“Top Glove is also dedicating more production lines to produce nitrile gloves, which command better margins and not subjected to the volatility in latex prices,” it said.
The company said it continued to maintain its strong balance sheet position with net cash and short term investments of RM207 million despite higher working capital requirement from the escalating latex price.
Top Glove chairman Tan Sri Lim Wee Chai said it was a challenging period, as the company faced substantial increases in its main raw material costs and adverse foreign exchange movements.
“Nevertheless, we have started to revise our latex glove prices and it is starting to arrest the decline in our revenue. We are also rigorously mitigating the impact of foreign exchange through hedging with forward contracts,” he said.
Lim said Top Glove's long-standing business relationship with its customers had enabled it to seek their understanding in passing on part of the increased raw material costs to them.
“Even though in the short term we expect the business conditions to remain difficult, I am encouraged by our prospects going forward while we take actions to strengthen the Group and improve returns to shareholders,” said Lim.
(Source : The Edge)
Friday, March 4, 2011
World Top Oil Producing Nations
Unrest in the Middle East has put investors on high alert as crude oil prices move seemingly with every development in the region.
In order to understand the effect of those events on both US and global oil markets, a key figure to watch is the amount of crude oil produced daily in each country. With data from the Energy Information Administration (EIA), a division of the Department of Energy.
The numbers that follow are the most recent available from the EIA, dating from November 2010, unless otherwise noted. As a result, the numbers represent daily production levels of countries under normal circumstances prior to the recent events in the Middle East.
Interestingly, Libya ranks as only the 17th largest oil producer in the world and imported 32,000 barrels of crude per day to the United States in December 2010, representing an average of approximately 0.37% of daily US crude imports that month.
15. Norway
Crude production: 2.14 million barrels per day
Share of world production: 2.45%
Daily crude exports to the US: 35,000*
Proven reserves: 6.7 billion barrels
*Export daily average in October 2010. From July-August 2010, daily exports ranged from 10,000 barrels to 31,000 barrels per day.
14. Algeria
Crude production: 2.16 million barrels per day
Share of world production: 2.47%
Daily crude exports to the US: 262,000 barrels
Proven reserves: 12.2 billion barrels
13. Venezuela
Crude production: 2.35 million barrels per day
Share of world production: 2.8%
Daily crude exports to the US: 825,000 barrels
Proven reserves: 99.4 billion barrels
12. Iraq
Crude production: 2.39 million barrels per day
Share of world production: 2.81%
Daily crude exports to the US: 336,000 barrels
Proven reserves: 115 billion barrels
11. Kuwait
Crude production: 2.5 million barrels per day
Share of world production: 2.93%
Daily crude exports to the US: 125,000 barrels
Proven reserves: 101.5 billion barrels
10. Nigeria
Crude production: 2.51 million barrels per day
Share of world production: 2.95%
Daily crude exports to the US: 1.02 million barrels
Proven reserves: 37.2 billion barrels
9. Brazil
Crude production: 2.75 million barrels per day
Share of world production: 3.2%
Daily crude exports to the US: 271,000 barrels
Proven reserves: 12.8 billion barrels
8. United Arab Emirates
Crude production: 2.81 million barrels per day
Share of world production: 3.3%
Daily crude exports to the US: 10,000 barrels*
Proven reserves: 97.8 billion barrels
7. Mexico
Crude production: 2.88 million barrels per day
Share of world production: 3.39%
Daily crude exports to the US: 1.22 million barrels
Proven reserves: 10.4 billion barrels
6. Canada
Crude production: 3.7 million barrels per day
Share of world production: 4.3%
Daily crude exports to the US: 2.06 million barrels
Proven reserves: 175.2 billion barrels
5. Iran
Crude production: 4.2 million barrels per day
Share of world production: 4.9%
Daily crude exports to the US: 0
Proven reserves: 137.6 billion barrels
4. China
Crude production: 4.26 million barrels per day
Share of world production: 5.0%
Daily crude exports to the US: 8,000 barrels*
Proven reserves: 20.4 billion barrels
3. United States
Crude production: 8.85 million barrels per day
Share of world production: 10.4%
Total crude imports: 8.63 million barrels per day
Proven reserves: 19.2 billion barrels
2. Russia
Crude production: 9.91 million barrels per day
Share of world production: 11.6%
Daily crude exports to the US: 158,000 barrels
Proven reserves: 60 billion barrels
1. Saudi Arabia
Crude production: 10.3 million barrels per day
Share of world production: 12.1%
Daily crude exports to the US: 1.08 million barrels
Proven reserves: 259.9 billion barrels
( source : CNBC )
Notes :
Total daily crude imports to US : 8.63 million barrels
Total world proven reserves from top 15 producing countries : 1165.3 billion barrels
North Africa and Arab World : 7 out of 15 countries
Share of world production : 31.46 %
Daily crude exports to US : 2.833 million barrels ( 32.82 % of total export to US )
Proven reserves : 761.2 billion barrels ( 65.32 % of top 15 countries )
South America : 3 out of 15
Share of world production : 9.39 %
Daily crude exports to US : 2.31 million barrels ( 26.76 % )
Proven reserves : 122.6 billion barrels ( 10.52 % )
Top 15 excluding South Africa and Arab World, South America
Share of world production : 33.75 %
Daily crude exports to US : 3.487 million barrels ( 41.04 % )
Proven reserves : 281.5 billion barrels of ( 24.16 % )
In order to understand the effect of those events on both US and global oil markets, a key figure to watch is the amount of crude oil produced daily in each country. With data from the Energy Information Administration (EIA), a division of the Department of Energy.
The numbers that follow are the most recent available from the EIA, dating from November 2010, unless otherwise noted. As a result, the numbers represent daily production levels of countries under normal circumstances prior to the recent events in the Middle East.
Interestingly, Libya ranks as only the 17th largest oil producer in the world and imported 32,000 barrels of crude per day to the United States in December 2010, representing an average of approximately 0.37% of daily US crude imports that month.
15. Norway
Crude production: 2.14 million barrels per day
Share of world production: 2.45%
Daily crude exports to the US: 35,000*
Proven reserves: 6.7 billion barrels
*Export daily average in October 2010. From July-August 2010, daily exports ranged from 10,000 barrels to 31,000 barrels per day.
14. Algeria
Crude production: 2.16 million barrels per day
Share of world production: 2.47%
Daily crude exports to the US: 262,000 barrels
Proven reserves: 12.2 billion barrels
13. Venezuela
Crude production: 2.35 million barrels per day
Share of world production: 2.8%
Daily crude exports to the US: 825,000 barrels
Proven reserves: 99.4 billion barrels
12. Iraq
Crude production: 2.39 million barrels per day
Share of world production: 2.81%
Daily crude exports to the US: 336,000 barrels
Proven reserves: 115 billion barrels
11. Kuwait
Crude production: 2.5 million barrels per day
Share of world production: 2.93%
Daily crude exports to the US: 125,000 barrels
Proven reserves: 101.5 billion barrels
10. Nigeria
Crude production: 2.51 million barrels per day
Share of world production: 2.95%
Daily crude exports to the US: 1.02 million barrels
Proven reserves: 37.2 billion barrels
9. Brazil
Crude production: 2.75 million barrels per day
Share of world production: 3.2%
Daily crude exports to the US: 271,000 barrels
Proven reserves: 12.8 billion barrels
8. United Arab Emirates
Crude production: 2.81 million barrels per day
Share of world production: 3.3%
Daily crude exports to the US: 10,000 barrels*
Proven reserves: 97.8 billion barrels
7. Mexico
Crude production: 2.88 million barrels per day
Share of world production: 3.39%
Daily crude exports to the US: 1.22 million barrels
Proven reserves: 10.4 billion barrels
6. Canada
Crude production: 3.7 million barrels per day
Share of world production: 4.3%
Daily crude exports to the US: 2.06 million barrels
Proven reserves: 175.2 billion barrels
5. Iran
Crude production: 4.2 million barrels per day
Share of world production: 4.9%
Daily crude exports to the US: 0
Proven reserves: 137.6 billion barrels
4. China
Crude production: 4.26 million barrels per day
Share of world production: 5.0%
Daily crude exports to the US: 8,000 barrels*
Proven reserves: 20.4 billion barrels
3. United States
Crude production: 8.85 million barrels per day
Share of world production: 10.4%
Total crude imports: 8.63 million barrels per day
Proven reserves: 19.2 billion barrels
2. Russia
Crude production: 9.91 million barrels per day
Share of world production: 11.6%
Daily crude exports to the US: 158,000 barrels
Proven reserves: 60 billion barrels
1. Saudi Arabia
Crude production: 10.3 million barrels per day
Share of world production: 12.1%
Daily crude exports to the US: 1.08 million barrels
Proven reserves: 259.9 billion barrels
( source : CNBC )
Notes :
Total daily crude imports to US : 8.63 million barrels
Total world proven reserves from top 15 producing countries : 1165.3 billion barrels
North Africa and Arab World : 7 out of 15 countries
Share of world production : 31.46 %
Daily crude exports to US : 2.833 million barrels ( 32.82 % of total export to US )
Proven reserves : 761.2 billion barrels ( 65.32 % of top 15 countries )
South America : 3 out of 15
Share of world production : 9.39 %
Daily crude exports to US : 2.31 million barrels ( 26.76 % )
Proven reserves : 122.6 billion barrels ( 10.52 % )
Top 15 excluding South Africa and Arab World, South America
Share of world production : 33.75 %
Daily crude exports to US : 3.487 million barrels ( 41.04 % )
Proven reserves : 281.5 billion barrels of ( 24.16 % )
Subscribe to:
Posts (Atom)