First Resources Limited

EB5.SI : Singapore Exchange

1.480

+0.68%

Share Price in SGD. As of 17 Jul 17:04:46 SGT

All

Chart

Key stats

  • 52-Week High
    SGD 1.610
  • 52-Week Low
    SGD 1.320
  • Market Cap
    SGD 2.3B
  • Avg Volume
    826K
  • P/E Ratio (TTM)
    12.33
  • Forward Dividend Yield
    4.2%

Share Price Performance

EB5.SI
Market
1 Day 0.00% 0.01%
5 Day 2.78% 0.42%
1 Month 6.47% 4.37%
6 Month -0.67% 11.05%
YTD 2.78% 8.04%
1 Year -3.27% 8.46%
5 Year -7.50% 11.85%
Include dividend return
Market Analysis

Consensus Share Price Target

Price Target: $1.606

Sell
Underperform
Neutral
Outperform
Buy

Source: SGX as of 17 Jul 2024

Analyst Ratings

  • Maybank Research

    01 Mar 2024

    Hold

    (prev Buy)

    1.450

    (prev 1.850)

  • RHB Invest

    08 Jan 2024

    Neutral

    1.450

    (prev 1.500)

  • UOB Kay Hian

    15 Jan 2024

    Hold

    1.650

Analyst Reports

Valuation

Price to earnings (P/E) ratio

Current P/E
9.2
Historical Average P/E
11.1

First Resources Limited's current P/E ratio of 9.2x is lower than its historical average P/E ratio of 11.1x.

Price to book (P/B) ratio

Current P/B
1.8
Historical Average P/B
1.5

First Resources Limited's current P/B ratio of 1.8x is higher than its historical average P/B ratio of 1.5x.

Earnings

Earnings Highlights

1Q 2024 Results Summary

  • Revenue: SGD 210.50M

    Increased 6% Year-on-Year

    The better financial performance in 1Q2024 was driven by an improvement in the overall sales volume achieved by the Group and a reduction in export taxes, despite lower average selling prices.

  • Net Profit: SGD 36M

    Increased 87% Year-on-Year

    The better financial performance in 1Q2024 was driven by an improvement in the overall sales volume achieved by the Group and a reduction in export taxes, despite lower average selling prices.

  • Debt to Equity Ratio: 23%

    Increased 6% Year-on-Year

Earnings per share (EPS)

The latest earnings per share is $0.12, which is lower than the earnings per share of $0.28 in 2022.

Financials

Financial Statements

29 Feb 2024

Full Yearly Results

For period ending 31 Dec 2023

11 Aug 2023

Half Yearly Results

For period ending 30 Jun 2023

Annual Reports

04 Apr 2024

Annual Report

For period ending 31 Dec 2023

04 Apr 2024

Sustainability Report

For period ending 31 Dec 2023

News
Profile

Company Description

The Company was incorporated in Singapore on 9 December 2004. First Resources Limited is one of the largest private sector producers of crude palm oil in Indonesia. Its primary business activities are cultivating oil palms, harvesting the fresh fruit bunches from those trees and processing crude palm oil and palm kernel which it sells in Indonesia and internationally. All of the Group's operations and assets, consisting primarily of 13 oil palm plantations and six palm oil mills, are located in Riau province, Sumatra, Indonesia. The Group’s business areas are: i) Cultivation The Group purchases most of its seed requirements from Dami Oil Palm Research Station (“DOPR”), a seed producer in Papua New Guinea. It operates an efficient best-practice fertilization system of its trees, using inorganic fertilizers as well as re-using by-products from our mills as fertilizer substitutes. ii) Harvesting The Group harvests the fresh fruit bunches of the oil palm trees only when an appropriate quantity of fruit become detached from the fresh fruit bunches, indicating peak ripeness. The ripeness of fresh fruit bunches harvested is critical in maximizing the quality and quantity of palm oil extraction. iii) Crude palm oil and palm kernel processing The Group’s primarily produces crude palm oil and palm kernel at its 6 palm oil mills located adjacent to its plantations, allowing us to both reduce our transport costs and maintain the quality of our crude palm oil. It has an aggregate processing capacity of 345 tons of fresh fruit bunches per hour or approximately 2.07 million tons of fresh fruit bunches per year. The Group’s oil palm plantations has grown significantly since its started the operations in 1992. As of 30 June 2007, the Group has 80,526 hectares under cultivation and 72.2 percent of its cultivated land comprised mature oil palm trees. As of 31 July 31 2007, its owned a total landbank of 184,280 hectares.

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