Mid-market focused investment bank within SE Asia, Evolve Capital Advisory Pte Ltd

Evolve Capital Research

Mid-market focused investment bank within SE Asia

Evolve Capital Advisory Pte Ltd

Equity Bottom-Up

Oiltek International Ltd / Equity Bottom-Up

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<a href="https://www.smartkarma.com/entities/oiltek-international-ltd" target="_blank" data-smartkarma-citation="entities:36016:1" rel="noopener">Oiltek International Ltd (OTEK SP)</a> is a process engineering and technology solutions provider specializing in edible oils and renewable energy. Its solutions cater to all types of vegetable oils. </li>
<li>This includes palm oil, soybean and rapeseed oil and cover a wide range of applications including edible and non-edible oil refining, and POME (palm oil mill effluent) biogas recovery systems.</li>
<li>We initiate rated coverage on Oiltek with a DCF-based TP of S$1.22, implying a 40.7x FY26E P/E, representing an upside of approximately 20.8%.</li>
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Oiltek International Ltd (OTEK SP) is a process engineering and technology solutions provider specializing in edible oils and renewable energy. Its solutions cater to all types of vegetable oils. 
This includes palm oil, soybean and rapeseed oil and cover a wide range of applications including edible and non-edible oil refining, and POME (palm oil mill effluent) biogas recovery systems.
We initiate rated coverage on Oiltek with a DCF-based TP of S$1.22, implying a 40.7x FY26E P/E, representing an upside of approximately 20.8%.


Oiltek International Initiation - Asset-Light and Well Positioned for Growth

External broker reports(aggregated public sources), Kenanga Investment Bank Bhd

Kenanga Investment Bank Bhd

External broker reports(aggregated public sources)

Established for more than 45 years, Kenanga Investment Bank Berhad is a financial group in Malaysia with extensive experience in equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending and trade financing. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>BMGREEN’s 9MFY24 results met expectations. Its 9MFY24 net profit almost tripled, buoyed by lower input cost.</li><li>However, its prospects are unfavourable with planters holding back from replacing or upgrading their boilers amidst flattish CPO prices.</li><li>We maintain our forecasts, TP of RM0.81 and UNDERPERFORM call. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

BMGREEN’s 9MFY24 results met expectations. Its 9MFY24 net profit almost tripled, buoyed by lower input cost.However, its prospects are unfavourable with planters holding back from replacing or upgrading their boilers amidst flattish CPO prices.We maintain our forecasts, TP of RM0.81 and UNDERPERFORM call. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BM Greentech - Plantation Capex Down-Cycle Weighs

Malaysia

BM GreenTech Bhd manufactures, repairs, and re-furbishes boilers. The Company primarily serves the palm oil milling industry, but has also designed boilers for the sugar milling, rubber-based manufacturing, food processing, and palm oil refining industries. BM GreenTech serves customers worldwide.

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BM GreenTech (BMGREEN MK)

Oiltek International Initiation - Asset-Light and Well Positioned for Growth

We initiate rated coverage on Oiltek with a DCF-based TP of S$1.22, implying a 40.7x FY26E P/E, representing an upside of approximately 20.8%.

Evolve Capital Advisory Pte Ltd

BM Greentech - Plantation Capex Down-Cycle Weighs

Its 9MFY24 net profit of RM22m met expectations at 81% and 75% of our full-year forecast and full-year consensus estimate, respectively.

Kenanga Investment Bank Bhd

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