OREANDA-NEWS. Two of the three most intraday swinging STI stocks in April – Golden Agri-Resources and Thai Beverage PCL – are categorised to the Consumer Staples sector, while Noble Group is categorised to the Industrials Sector. The former two are involved in Food & Beverages Business, and the latter is in the Capital Goods industry. These three stocks are part of the 30 constituents that make up the Straits Times Index (STI).

Noble Group, Golden Agri-Resources and Thai Beverage PCL have a combined market capitalisation of S\$30.3 billion and for the month of April through to 22 April averaged an average annualised intraday volatility of 68% – almost double the average annualised intraday volatility of 36% for all the 30 STI stocks. Month-to-date price changes range from a 8.7% price decline for Noble Group to a 1.2% price gain for Golden Agri-Resources.

Noble Group maintained the highest average annualised intraday volatility of 78%, followed by Golden-Agri Resources with 68% and Thai Beverage PCL with 57%. A higher volatility meant larger price fluctuations for the stocks during the trading period and vice versa.  

Details of the relevant stocks are below. 

Company Name SGX Code Mkt Cap S\$M % Price Change MTD % Price Change YTD % Change - Dividend Adj. YTD % Change - Dividend Adj. [1 Year] % Div Yld
Noble Group
N21 5,661.2  -8.7 -26.3 -25.6 -30.8 1.1
Golden Agri-Resources
 E5H 5,520.1  1.2 -6.5 -5.7 -28.8 0.8
Thai Beverage Public Company
Y92 19,083.6  -0.7 10.1 12.9 33.6 3.3
Average     -2.7 -7.6 -6.1 -8.7 1.7

Source: SGX StockFacts (Data as of 24 April 2015)

Company Name SGX Code Last Close (SGD) 30 Day Moving Average (SGD) 52 Week High Price (SGD) 52 Week Low Price (SGD) 52-Week High Date 52-Week Low Date
Noble Group N21 0.840 0.897 1.480 0.825 05/06/14 10/04/15
Golden Agri-Resources E5H 0.430 0.423 0.615 0.395 14/05/14 27/03/15
Thai Beverage Public Company
Y92 0.760 0.767 0.810 0.575 15/04/15 29/04/14

Source: SGX StockFacts (Data as of 24 April 2015)

Noble Group, Golden Agri-Resources and Thai Beverage PCL completed their Financial Year 2014 (“FY14”) in December. All three companies have reported positive year-on-year revenue growth for FY2014.

Noble Group

Noble Group provides supply chain management services for energy products, metals, minerals, and ores worldwide. The company operates through Energy; and Metals, Minerals and Ores segments. Noble Group was founded in 1987 and is headquartered in Hong Kong. Noble Group has a market capitalisation of S\$5,661.2 million and the stock trades at a price-to-earnings ratio of 19.5. The five substantial shareholders are Richard Samuel Elman, Best Investment Corporation, Franklin Resources, Inc., Eastspring Investments (Singapore), and Orbis Investment Management.

Noble Group’s revenue increased by 4.2% to US\$85.8 billion for FY2014, as compared to US\$82.4 billion in FY2013. As noted in the press release, the partnerships with X2 Resources and Harbour Energy are also firmly established and offer substantial growth opportunities together with strong independent organic growth.

In a recent corporate presentation, Noble Group reported strong volume growth across Segments with FY2014 Group tonnage up 19% at 278 million tonnes, compared to FY2013. The group also reported that the sale of a 51% stake in Noble Agri Limited was successfully completed, with the final sales proceeds agreed at US\$1.46 billion, a US\$37 million adjustment to the initial payment of US\$1.5 billion.

Golden Agri-Resources

Golden Agri-Resources operates as a palm oil plantation company worldwide. The company operates through Plantation and Palm Oil Mills, Palm and Laurics, Oilseeds, and Others segments. Golden Agri-Resources was founded in 1996 and is based in Singapore. Golden Agri-Resources has a market capitalisation of S\$5,520.1 million and the stock trades at a price-to-earnings ratio of 36.9. The five substantial shareholders are Massingham International, Silchester International Investors LLP, Golden Moment Limited, PT Sinar Mas Group, and Allianz Asset Management AG.

Golden Agri-Resources and its subsidiaries showed strong revenue growth of 16% to US\$7.62 billion for FY2014, driven mainly by the expansion of their palm downstream business. As noted in the accompanying statement, palm product output reached a record high of 2.95 million tonnes.

Last week, Golden Agri-Resources (“GAR”) announced that Golden Assets International Investment Pte. Ltd. (the “Issuer”), a wholly-owned subsidiary of GAR, has on 21 April 2015 priced the offering of S\$125,000,000 5.50 per cent. senior unsecured fixed rate notes due 27 April 2018 (the “Notes”). The Notes will be issued pursuant to the US\$1,500,000,000 Multicurrency Medium Term Note Programme. As noted in the accompanying statement, the net proceeds from the issue of the Notes will be used for general corporate purposes and working capital needs of GAR and its subsidiaries, including but not limited to the repayment of outstanding borrowings.

Thai Beverage PCL

Thai Beverage Public Company Limited (PCL), together with its subsidiaries, produces and distributes alcoholic and non-alcoholic beverages in Thailand and internationally. The company operates through four segments: Spirits, Beer, Non-Alcoholic Beverages, and Food. Thai Beverage PCL was incorporated in 2003 and is based in Bangkok, Thailand. Thai Beverage PCL has a market capitalisation of S\$19,083.6 million and the stock trades at a price-to-earnings ratio of 22.0. The five substantial shareholders are Siriwana Company Ltd., Charoen Sirivadhanabhakdi, Capital Research and Management Company, Risen Mark Enterprise Ltd and Nexus Power Investment Limited.

Total sales for Thai Beverage PCL was THB 162.0 billion, an increase of 4.0% or THB 6.3 billion, from THB 155.8 billion last year. As noted in the accompanying statement, the increase is mainly due to the rise in revenues for the spirits business by 4.7%, the beer business by 6.9% and the food business by 10.5%.

Thai Beverage PCL will be holding the 2015 Annual Information Meeting for Shareholders in Singapore (“Information Meeting”). This Information Meeting is an event organised by Thai Beverage PCL to provide an opportunity for its shareholders to meet with key directors and management. The event will be held on 22 May at the InterContinental Hotel, 80 Middle Road, Singapore 188966. As this is an informal meeting, please note that no resolutions will be considered.