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MarketScreener Homepage  >  Equities  >  BURSA MALAYSIA  >  FGV Holdings    FGV   MYL5222OO004

FGV HOLDINGS

(FGV)
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Malaysia's Sime Darby Plantation concerned over possible U.S. import ban

10/02/2020 | 12:17am EST
A Sime Darby Plantation worker collects palm oil fruits at a plantation in Pulau Carey

Malaysia's Sime Darby Plantation flagged concern on Friday about a possible ban by customs authorities in the United States, a key market for the firm in the world's second largest producer and exporter of palm oil.

After reports this week identified Sime Darby as the next target of an import ban by U.S. Customs and Border Protection (CBP), the company said it had not been given an opportunity to explain a petition filed against it by anti-trafficking group Liberty Shared (LS) in April this year.

Malaysia said on Thursday that it was anticipating the United States would ban imports of another plantation firm after CBP blocked entry of palm oil products from FGV Holdings over suspicion of forced labour.

"Despite our attempts to engage with the CBP, we have not had the opportunity to provide any explanation and neither has (the company) been provided details of the allegation by LS," Sime Darby said.

It said it had earlier responded to a summary of LS's petition in public statements, and would continue engaging with the non-government organisation to hopefully obtain the details of the allegations.

Sime Darby's annual exports to the United States are valued at about $5 million, it added.

(Reporting by Liz Lee; Editing by Clarence Fernandez and Raju Gopalakrishnan)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CPO (CPO) - CMG (ELECTRONIC)/C1 2.79% 829.5 End-of-day quote.15.53%
FGV HOLDINGS -1.56% 1.26 End-of-day quote.-17.11%
LONDON BRENT OIL 0.51% 49.04 Delayed Quote.-26.08%
SIME DARBY -0.43% 2.34 End-of-day quote.5.41%
SIME DARBY PLANTATION -0.78% 5.08 End-of-day quote.-6.79%
WTI 0.97% 46.11 Delayed Quote.-25.53%
All news about FGV HOLDINGS
11/17Malaysia's FGV says crude palm oil output to worsen in fourth quarter
RE
11/17Malaysia's FGV says crude palm oil output to worsen in Q4
RE
10/22Malaysia says allegations of forced labour in palm plantations is 'old issue'
RE
10/15U.S. Customs would consider petition, audit to lift import ban on Malaysia's ..
RE
10/02Malaysia's Sime Darby Plantation concerned over possible U.S. import ban
RE
10/02Malaysia's Sime Darby Plantation concerned over possible U.S. import ban
RE
10/01FGV : Palm oil giant FGV denies labor abuses after US restricts imports
AQ
10/01Malaysia expects U.S. import ban on second plantation firm, after FGV barred
RE
10/01VEGOILS-Palm oil tracks U.S. soy prices higher
RE
09/30VEGOILS-Palm oil tracks strength in U.S. soyoil prices, up 1.7%
RE
More news
Financials
Sales 2020 14 348 M 3 536 M 3 536 M
Net income 2020 71,5 M 17,6 M 17,6 M
Net Debt 2020 4 208 M 1 037 M 1 037 M
P/E ratio 2020 65,7x
Yield 2020 1,69%
Capitalization 4 597 M 1 128 M 1 133 M
EV / Sales 2020 0,61x
EV / Sales 2021 0,61x
Nbr of Employees 17 104
Free-Float 32,3%
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Technical analysis trends FGV HOLDINGS
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Mean consensus HOLD
Number of Analysts 10
Average target price 1,25 MYR
Last Close Price 1,26 MYR
Spread / Highest target 15,1%
Spread / Average Target -0,48%
Spread / Lowest Target -32,5%
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Managers
NameTitle
Haris Fadzilah bin Hassan Chief Executive Officer
Wira Azhar bin Abdul Hamid Chairman
Mohamed Hairul Abdul Hamid Chief Financial Officer
Mohammed Anwar bin Yahya Independent Non Executive Director
Mohamed Nazeeb P. Alithambi Independent Non Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
FGV HOLDINGS-17.11%1 146
CORTEVA, INC.29.26%28 467
WENS FOODSTUFF GROUP CO., LTD.-30.61%19 075
QL RESOURCES14.02%3 702
GENTING PLANTATIONS-6.43%2 201
GODREJ AGROVET LIMITED0.31%1 336