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Golden Agri put on 'hold' as it mulls partial rationalisation of China ops

PC Lee
PC Lee11/16/2017 12:42 PM GMT+08  • 2 min read
Golden Agri put on 'hold' as it mulls partial rationalisation of China ops
SINGAPORE (Nov 16): OCBC says Golden Agri Resources is still trying to rationalise a part of its China operations with an estimated book value of US$140 million ($190 million).
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SINGAPORE (Nov 16): OCBC says Golden Agri Resources is still trying to rationalise a part of its China operations with an estimated book value of US$140 million ($190 million).

At the moment, OCBC is maintaining its “hold” on Golden Agri with a higher target price of $0.37 as 3Q17 underlying profit edges up on better weather and the house rolls over its valuations to FY18 earnings.

In a Wednesday report, analyst Low Pei Han estimates Golden Agri’s China ops to have a total book value of about US$500 million ($678 million). A significant portion of the book value Golden Agri is trying to rationalise relates to oil seeds processing in Tianjin.

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