Research and valuation
Independent research on the Group is published regularly by its joint brokers Peel Hunt and finnCap. Institutional investors can request the Peel Hunt research by contacting Charles Hall (charles.hall@peelhunt.com); finnCap’s research is freely available from Raymond Greaves (RGreaves@finncap.com) or at https://researchlibrary.finncap.com/User/Login.
At the end of the year a valuation of the Group’s land and property assets was undertaken by an independent valuer, Khong & Jaafar Sdn Bhd. A copy of the most recent valuation report is available here.
Analysis of group equity value
31 December 2019
| Market value per planted hectare (US$) |
Market value attributable to Group (US$'000) |
||
|---|---|---|---|
| Plantation | GROUP | ||
| Kota Bangun | 20,700 | 209,475 | |
| Bumi Mas | 17,100 | 121,600 | |
| Bangka | 19,900 | 109,620 | |
| Musi Rawas | 19,200 | 104,310 | |
| Pangkatan Group | 16,200 | 106,970 | |
| Simpang Kiri | 11,400 | 26,505 | |
| Kerasaan | 14,300 | 12,578 | |
| 691,058 | |||
| SMALLHOLDERS | |||
| Kota Bangun | 5,600 | 24,795 | |
| Bumi Mas | 4,300 | 5,605 | |
| Bangka | 3,600 | 12,690 | |
| Musi Rawas | 6,600 | 14,725 | |
| 5,000 | 57,815 | ||
| Property | Bertam Estate | n/a | 21,990 |
| Bertam Properties | n/a | 50,000 | |
| 71,990 | |||
| Net debt | n/a | (67,686) | |
| Other assets and liabilities | n/a | 38,498 | |
| Total equity value | 791,675 | ||
| Equity value per share (£) | 11.01 | ||
