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.
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.
