MYR reporting
Genting Plantations · GENP.KL
Palm oil + property (Malaysia / Indonesia) · Filing
- Acres
- 504,000
- Book / acre
- MYR 10,800
- Market cap (USD)
- —
- EV / acre (USD)
- —
Sector KPIsestimate
- FFB yield
- 20.0 t/ha
- OER
- 21.0%
- KER
- 4.8%
- CPO ASP
- MYR 4,150/t
- CPO cost
- MYR 2,450/t
- RSPO certified
- 70.0%
- Methane capture
- 50.0% of mills
- Replanting LTM
- 1,800 ha
- NDPE compliance
- 95.0%
Tangible Balance-Sheet Assets
Asset-class composition from the latest FY filings, alongside market enterprise value for an asset-coverage view. Land at FMV when a per-property breakdown is available; other classes at filed book value.
| Asset class | Book (MYR M) | FMV (MYR M) | Note |
|---|---|---|---|
| Land / property | 5,443 | 12,204 | Per-property breakdown below |
| PP&E (mills, plants, machinery) | 2,680 | — | Net of accumulated depreciation |
| Inventory | 480 | — | |
| Intangibles + goodwill | 95 | — | Excluded from tangible total |
| Tangible total (ex-cash) | 8,603 | 15,364 | |
| + Cash & equivalents | 1,880 | 1,880 | |
| Tangible total (incl. cash) | 10,483 | 17,244 | |
| Reported total assets (BS) | 11,500 | — | Latest period 2024-12-31 |
Tangible book
MYR 10,483M
91% of total assets
Implied fair market analysis
As of 2024-12-31FMV by category
Aggregated from per-property assumptions below| Category | Properties | Acres | Avg book MYR/acre | Avg FMV MYR/acre | Book (MYR M) | FMV (MYR M) | FMV range (MYR M) | FMV vs book |
|---|---|---|---|---|---|---|---|---|
| Indonesian palm — Kalimantan (GENP nucleus) | 1 | 354,000 | 6,780 | 22,000 | 2,400 | 7,788 | 6,230–9,346 | +224.5% |
| Malaysian palm — Sabah (GENP) | 1 | 110,000 | 12,727 | 24,000 | 1,400 | 2,640 | 2,112–3,168 | +88.6% |
| Property development | 1 | 15,000 | 46,667 | 60,000 | 700 | 900 | 720–1,080 | +28.6% |
| Malaysian palm — Peninsular (GENP) | 1 | 25,000 | 14,000 | 28,000 | 350 | 700 | 560–840 | +100.0% |
| Plasma plantations (partnership receivable) | 1 | — | — | — | 300 | 176 | 132–220 | -41.3% |
| Genomics R&D (not farmland) | 1 | 1 | 100,000,000 | 100 | 100 | 0 | 0–0 | -100.0% |
| Total | 6 | 504,001 | 10,417 | 24,214 | 5,250 | 12,204 | 9,754–14,654 | +132.5% |
Properties
6-row breakdown. Hybrid palm + property + R&D operator. Plantation: ~64K ha MY + ~143K ha Indonesia nucleus + ~36K ha Indonesia plasma. Property: Iskandar + Sentul Indonesia. Total landbank 243,200 ha including plasma per FY24 disclosure.| Property | Category / crop | Acres | Acquired | Cost (MYR M) | Book (MYR M) | MYR/acre book | FMV MYR/acre | FMV (MYR M) | vs book | Comps |
|---|---|---|---|---|---|---|---|---|---|---|
Indonesia plantations (West, Central, South Kalimantan) — nucleus + 7 mills West + Central + South Kalimantan, Indonesia | Indonesian palm — Kalimantan (GENP nucleus) Mature + immature oil palm + 7 mills (nucleus only) | 354,000 | — | — | 2,400 | 6,780 | 22,000 17,600–26,400 | 7,788 | +224.5% | ID-PALM-KALIMANTAN-2024ID-PALM-MATURE-2024 ~143K ha Indonesia Kalimantan NUCLEUS (3 provinces). 7 mills support nucleus + plasma FFB. Reduced from prior 442K acres to exclude plasma estates owned by smallholder farmers (now in separate plasma row) |
Sabah Malaysia plantations + 6 mills Sabah, Malaysia | Malaysian palm — Sabah (GENP) Mature oil palm + 6 mills | 110,000 | — | — | 1,400 | 12,727 | 24,000 19,200–28,800 | 2,640 | +88.6% | MY-PALM-SABAH-2024 GENP Sabah cluster with 6 mills |
Iskandar Malaysia property development + Indonesian property Iskandar Malaysia + Sentul (Indonesia near Jakarta) | Property development Mixed-use property development | 15,000 | — | — | 700 | 46,667 | 60,000 48,000–72,000 | 900 | +28.6% | MY-PALM-PEN-2024 Iskandar Malaysia + 152 ha Sentul Indonesia property (RM593M = ~RM 14.7M/acre = $3.3M USD/ha at premium urban-fringe pricing). Aggregate at lower per-acre |
Peninsular Malaysia plantations + 1 mill Peninsular Malaysia | Malaysian palm — Peninsular (GENP) Mature oil palm + 1 mill | 25,000 | — | — | 350 | 14,000 | 28,000 22,400–33,600 | 700 | +100.0% | MY-PALM-PEN-2024 Peninsular Malaysia smaller cluster |
Indonesia plasma plantations (smallholder partnerships) West + Central + South Kalimantan, Indonesia | Plasma plantations (partnership receivable) Plasma estate partnerships (~36K ha NOT owned by GENP) | 88,000 | — | — | 300 | 3,409 | 2,000 1,500–2,500 | 176 | -41.3% | ID-PALM-KALIMANTAN-2024 ~36K ha Indonesia plasma estates owned by smallholder farmers under Indonesia's mandatory plasma program — managed by GENP under multi-year purchase + advisory agreements. NOT on balance sheet as land asset. Estimated as ~20% of Indonesia operations consistent with Kalimantan industry norms. Per-acre MYR 2,000 reflects financial receivable (advances less repayments) in MYR terms |
Genomics R&D + biotech subsidiaries Various | Genomics R&D (not farmland) R&D facilities (not land asset) | 1 | — | — | 100 | 100,000,000 | 100 80–120 | 0 | -100.0% | — Per-acre meaningless; placeholder for non-land R&D subsidiary |
Comparable land transactions and surveys
4 reference points · all dated within last 24 months| ID | Description | Location | Acres | $ / acre | Date | Source |
|---|---|---|---|---|---|---|
| ID-PALM-KALIMANTAN-2024 | Kalimantan palm oil concession | Kalimantan, Indonesia | — | $4,400 | Sep 2024 | Kalimantan palm broker comps 2024 |
| MY-PALM-SABAH-2024 | Malaysian Sabah palm plantation | Sabah, Malaysia | — | $4,800 | Sep 2024 | MPOB Sabah 2024 |
| MY-PALM-PEN-2024 | Peninsular Malaysia palm plantation | Peninsular Malaysia | — | $6,000 | Sep 2024 | MPOB land valuation reports 2024 |
| ID-PALM-MATURE-2024 | Indonesian mature oil palm with mill access | Indonesia | — | $5,000 | Sep 2024 | GAPKI 2024 reports |
Genting Plantations is a hybrid palm + property developer with 243,200 ha total landbank including plasma schemes. Plantation footprint: ~64K ha Malaysia (Sabah + Peninsular) + ~143K ha Indonesia nucleus (West/Central/South Kalimantan) + ~36K ha Indonesia plasma. 13 oil mills total: 1 W. Malaysia + 6 Sabah + 6 Indonesia. CRITICAL CHANGE vs prior version: Indonesia plasma estates (~36K ha = 88K acres) now correctly carved out via excludeFromAcreTotals=true. Plasma is owned by smallholder farmers under Indonesia's mandatory plasma program — GENP buys FFB but doesn't own the land. Consistent with how plasma is treated for AALI/SIMP/P8Z/SGRO/SSMS/RE.L. 6-row breakdown: - Sabah Malaysia (110K acres + 6 mills): largest Malaysian cluster, freehold - Peninsular Malaysia (25K acres + 1 mill): smaller W. Malaysia, freehold - Indonesia Kalimantan nucleus (354K acres + 7 mills): GENP-owned Indonesia operations - Indonesia plasma (88K acres = 36K ha, EXCLUDED from owned acres): smallholder partnerships - Property development (15K acres): Iskandar Malaysia + 152 ha Sentul Indonesia (RM593M July 2024 acquisition for property development = premium urban-fringe pricing) - Genomics R&D placeholder (not land asset) Property development segment is meaningful — GENP combines plantation + Iskandar Malaysia urban land + Indonesian urban property. Per-acre marks vary 100-200x across segments.
Financial snapshot
53 reported periods · no price history
Reported metrics (revenue, EBITDA, property value, NAV/share, total acres) come from content/farmland-financials/GENP.KL.json — manually compiled at the most-granular timeframe each issuer discloses (typically quarterly). Stock price overlay and premium/discount on the NAV/share chart use daily Yahoo close; premium/discount steps each time NAV is re-reported.
Sector trends
9 populated KPIs · 1995–2024