Bursa Malaysia Stock Watch
Plantation: Maintain Neutral - Early Indication of a Slow Recovery
kltrader
Publish date: Wed, 13 Jun 2012, 09:40 AM
kltrader
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This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
Earnings growth may only be visible in 2H12. The key takeaway from the May 2012 MPOB statistics is that Malaysia's CPO production fell 16.8% and 20.6% YoY respectively in Apr-May (but rose 5.1% to 8.7% MoM). Coupled with weaker CPO ASPs of MYR3,295/t (-1.6% YoY) for the 2Q to 11 Jun and a weak spot price of ~MYR3,000/t, 2Q12 earnings of plantation groups are likely to stay weak YoY (but be relatively stronger QoQ). Maintain Neutral on the sector. Top BUYs are Ta Ann and SOP for their attractive valuations and growth prospects.
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Source: Maybank Research - 13 June 2012
Click here for full report
Source: Maybank Research - 13 June 2012
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