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Indeed. Despite the recent fall in Palm Oil prices due to COVID the price is still ahead of 2019 levels. Pleasing crop increase that should only grow in the coming years due to the young age of our plants. I topped up around the 500 level a few weeks ago. Still a chance of a take over here however if not happy with the growth and dividends.
Very good trading update this morning.
KLK are the reason I have been hanging on to these for several years. The minute I sell they will pounce lol
Note the largest shareholder is Kuala Lumpur Kepong Berhad (KLK) KLK tried unsuccessfully to take MPE over a few years ago. KLK is amongst the largest plantation companies in Malaysia. Given the stock price and the weakness of the pound they could pounce again.
https://masterinvestor.co.uk/equities/mp-evans-ready-for-a-big-leap-forward/
Easy to tip this as a £7.00 target when it was that price before all the market upheavel.
Some interesting trading here in the last few weeks on the back of significantly higher palm oil prices. Today’s trade of over 1m shares is a large amount for MPE.
3 year high and still rising on shortage fears. MPE should have a good 2020.
The price of palm oil has been surging, sending its discount to soya-bean-oil futures from more than $150 a ton six weeks ago to less than $26 a ton on Friday. Given the way hedge funds have cut bullish bets on soya-bean oil in recent weeks, the spread could flip to a premium soon for the first time in almost a decade.
prices of the Malaysian benchmark contract are up 29% since the start of October.
SINGAPORE: Malaysian palm oil futures rose 2.5 per cent and touched their highest price in more than three years on Wednesday, as supply outlook for the edible oil in 2020 dimmed and prices of rival oils surged.
The benchmark palm oil contract on the Bursa Malaysia was up for the third straight session and closed at 2,687 ringgit per tonne.
I think KLK know from last time the directors won’t let this go cheap - irrespective of market conditions. Reminder they offered £640 in October 2016 and increased to £740 in November of the same year. MPEs independent valuation came to £1082 - note since then the group has acquired more land. KLK won’t bid again until they have big holder(s) onside likely Nokia Bell Pension fund. Happy to wait it out.
£10 or £11 for me
The good news is that if the CPO price continues to rise then KLK may have missed a good opportunity to buy very cheaply, and MPE 's Directors have already done a good job in talking the price up - if profits are on the rise too, then this will help massively.
It is after all a fairly fixed price operation, therefore prices up or down have a big effect on profits.
Interesting. I still think KLK will be back in here - the BoD have put a rough value on the company and with the current value of the pound it’s a good time to test the resolve of holders. Happy to cash out for £9 per share.
Another large sale today. Be interesting to see a TR1 soon. Perhaps KLK buying more from Standard Life Aberdeen?
Good good. I have held these for a while & am underwater atm
The palm oil price is creeping back up
Some large trades today for MPE.
...or rather 'come bad' depending if your looking at a takeover at around £7 or MPE directors fighting for at least £10. I know the pre bid price was well below these, but it's a big difference!
Todays results - under very low CPO prices point on why not try the bottom end.
Today’s announcement ties up loose ends and IMO it is only a matter of time before Kepong Berhad try to take this over again. They hold around 20% of the stock, given the value of the pound currently its a good time for foreign investors to take advantage. Depressed Palm Oil price could also help them. This one will come good.
KLK just written off $35m in a joint venture part of Equatorial Palm Oil,
whilst probably a drop in the ocean for somebody of their size it might still help keep them away from MPE - although it would also reinforce the mantra of they don't want to overpay if they do have another tilt.
I still think the continuing cyclical low price of palm oil is dangerous for a lower bid than it's long term value. This is why MPE are still having to prop the price up with buybacks even as you point out it is mildly increasing KLK's stake!
Wow, thats the definition of long term hold. Keep it up!
Aye I noticed that. Tempted to buy more but already have a signficant amount of my Sipp in MPE
Could be sooner rather than later. In a weird way the company is helping them by buying back shares and thus indirectly increasing the percentage holding of KLK. Let’s see happy to wait here.
Stake up over 20% now. I reckon they will attempt a takeover again but it may be a long wait.