Over 25-yrs in Global Materials & Soft Commodities

Charles Spencer

Equity Bottom-Up

<p>INVESTMENT VIEW:  We are adding <a href="https://www.smartkarma.com/entities/1142" target="_blank" data-smartkarma-citation="entities:1142:1">Golden Agri Resources Ltd (GGR SP)</a> to our list of 5-year doubles.  Its shares have fallen 28% year-to-date due to weak Palm Oil pricing, however, seasonal factors should begin to assist in supporting near-term pricing, whilst a collapse in Capex spending (new planting) should structurally lift longer-term pricing back to trend levels within the coming 5-years. </p>
<p>Our 12-month price target is S$0.33/sh, whilst our 5-year price target is S$0.60/sh.</p>

INVESTMENT VIEW:  We are adding Golden Agri Resources Ltd (GGR SP) to our list of 5-year doubles.  Its shares have fallen 28% year-to-date due to weak Palm Oil pricing, however, seasonal factors should begin to assist in supporting near-term pricing, whilst a collapse in Capex spending (new planting) should structurally lift longer-term pricing back to trend levels within the coming 5-years. 
Our 12-month price target is S$0.33/sh, whilst our 5-year price target is S$0.60/sh.

Unloved & Undervalued; Adding Golden Agri to Our List of 5-Yr Doubles

Malaysia

SD Guthrie Berhad produces and distributes agricultural products. The Company produces and processes palm oil, fats products, oleochemicals, rubber, lubricants, ozone acids, glycerine, and fatty acids, as well as provides vegetable farming and cattle rearing services. SD Guthrie serves customers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

SD Guthrie (SDG MK)

Unloved & Undervalued; Adding Golden Agri to Our List of 5-Yr Doubles

INVESTMENT VIEW: We are adding Golden Agri Resources Ltd (GGR SP) to our list of 5-year doubles. Its shares have fallen 28% year-to-date due to...

Charles Spencer

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)