AALI estimate FY11F CPO production equals to FY10 CPO production (no growth in CPO production)due to its old plantation.Currently,we estimate CPO production in FY11F will be grow by 1.8%YoY from 1,060,589 ton in FY10F to 1,079,386 ton in FY11F.
AALI indicated Sep ’10 CPO production will be around 90 thousand ton (increase around 15%from Sep ’09 CPO production of 78 thousand ton).
Currently,AALI is trading at PER FY10F and FY11F of 17.5x and 17.4x.
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