Towards Financial Freedom
Commodity Traders - Not out of the woods yet
Recapping a disappointing quarter. Investors hoping for a turnaround in the fortunes of this sector would have generally been disappointed with the recent set of 2QCY12 results. In our opinion, Noble had the best quarter, with a yoy recurring net profit growth of 5% despite a delayed sugar crop at its Brazilian mills. Olam saw a 11% decline in recurring net profit on the back of weak numbers for industrial raw materials. Wilmar on the other hand, had another shocker of a quarter, with recurring net profit down 55% yoy, justifying our SELL call and our least preference within the sector.
Source: Maybank Kim Eng
Source: Maybank Kim Eng
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CS Tan
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
