Sector : Plantation
Sub
Sector :
Plantation
Part III – 21 – 30 palm oil companies in
term of 2018 revenue
Part IV – Summary of comparison based on
2018
21 - 30 palm oil companies listed in
Bursa base on 2018 revenue are:
Competitiveness
Market shares is
an importance indicator to determine the competiveness of the company. Total
revenue make from palm oil plantation and refinery for the year 2018 is RM 68,524,704,870.00.
|
COMPANY
|
REVENUE (OIL PALM) 2018 (RM)
|
MARKET SHARE (%)
|
|
RSAWIT (5113)
|
335,193,997
|
0.49
|
|
MHC (5026)
|
315,734,166
|
0.46
|
|
SWKPLNT (5135)
|
309,894,966
|
0.45
|
|
UMCCA (2593)
|
271,074,000
|
0.40
|
|
CEPAT (8982)
|
225,276,000
|
0.33
|
|
NPC (5047)
|
219,405,000
|
0.32
|
|
TDM (2054)
|
196,562,000
|
0.29
|
|
HARNLEN (7501)
|
178,084,624
|
0.26
|
|
CHINTEK (1929)
|
149,924,411
|
0.22
|
|
INNO (6262)
|
114,222,418
|
0.17
|
Dependency
Many palm oil companies had other
investment such as properties development, logistic, sugar, manufacturing and
etc which is not subjected to the price change on the palm oil. Table below
shown the dependency of palm oil for each company
|
COMPANY
|
PERCENTAGE OF REVENUE FROM PALM OIL (%)
|
|
RSAWIT (5113)
|
98.97
|
|
MHC (5026)
|
95.35
|
|
SWKPLNT (5135)
|
100.00
|
|
UMCCA (2593)
|
97.41
|
|
CEPAT (8982)
|
88.74
|
|
NPC (5047)
|
96.07
|
|
TDM (2054)
|
50.75
|
|
HARNLEN (7501)
|
95.22
|
|
CHINTEK (1929)
|
100.00
|
|
INNO (6262)
|
100.00
|
From the table TDM had less than 80% of
their revenue from palm oil. Other businesses which TDM are involve;
1) TDM
– Healthcare, TDM operate 4 hospitals
which are:
a) Kelana
Jaya Medical Centre (KJMC)
b) Kuatan
Medical Centre (KMC)
c) Kuala
Terengganu Specialist Hospital (KTS)
d) Taman
Desa Medical Centre (TDMC)
Operational
For operational, operating income of the companies had been review. Operating
income determine how much the companies’ revenue had turn into profit after
reduction cost of operating expense.
Besides operating income, operatingmargin ratio is
also calculated. Companies with higher operating margin ratio have more
probability to survive in today financial crisis.
|
COMPANY
|
2018 OPERATING INCOME (RM)
|
2018 OPERATING MARGIN RATIO
|
|
RSAWIT (5113)
|
(159,050,472)
|
-47.45
|
|
MHC (5026)
|
29,160,682
|
8.90
|
|
SWKPLNT (5135)
|
24,536,802
|
7.92
|
|
UMCCA (2593)
|
31,676,000
|
11.69
|
|
CEPAT (8982)
|
14,652,000
|
6.67
|
|
NPC (5047)
|
3,627,000
|
1.65
|
|
TDM (2054)
|
(52,549,000)
|
-25.59
|
|
HARNLEN (7501)
|
1,021,112
|
0.57
|
|
CHINTEK (1929)
|
84,123,593
|
56.11
|
|
INNO (6262)
|
15,101,434
|
13.22
|
RSAWIT, UMCCA and TDM would be
disqualified to analyst further because they having negative operation income. CHINTEK
had high operation margin ratio in 2018.
Sustainability
For the sustainability of the business,
debt of the companies is being review. There are two criteria to look at
interest coverage ratio ,
which is used to determine how easy the companies able to pay off the interest
of outstanding debt and debt ratio.
|
COMPANY
|
2018 INTEREST COVERAGE RATIO
|
2018 DEBT RATIO
|
|
RSAWIT (5113)
|
-6.36
|
0.60
|
|
MHC (5026)
|
4.09
|
0.30
|
|
SWKPLNT (5135)
|
3.70
|
0.37
|
|
UMCCA (2593)
|
11.69
|
0.23
|
|
CEPAT (8982)
|
2.66
|
0.30
|
|
NPC (5047)
|
0.21
|
0.73
|
|
TDM (2054)
|
-2.03
|
0.49
|
|
HARNLEN (7501)
|
0.10
|
0.50
|
|
CHINTEK (1929)
|
No Financial
Cost
|
0.05
|
|
INNO (6262)
|
8.10
|
0.20
|
CHINTEK had no financial cost or low
financial cost in 2018.
Summary of Industry Comparison
http://ivkls.blogspot.com/2020/05/industry-comparison-palm-oil-part-iii.html
