Thursday, June 19, 2014
Halcyon Agri Corp
Halcyon Agri Corp: The Business Times reports that Halcyon is currently in talks to buy rubber processing plants in Indonesia from Lee Rubber for $400m to $500m. With three rubber process factories in Indonesia and two in Malaysia, Halycon has been aiming to expand its operations via the acquisition of more rubber processing assets. Halycon has however declined to comment on the purchase plan, although in an SGX announcement last week, the company guided that it was in talks on a potential acquisition of assets and properties. The company has requested for a trading halt yesterday afternoon, pending the release of an announcement. Halycon currently trades at 22.9x forward P/E versus closest peer Sri Trang’s 14.7x forward P/E.