Affin Hwang Capital Research Highlights
HwangDBS Research Highlights - 13 Jan 2014
Plantation
Go for laggard
Malaysia’s Dec13 palm oil stockpile of 1.985m MT was 9% higher than expected. Domestic demand and exports unexpectedly dropped by 17% and 1% m-o-m, respectively. India’s move to raise refined edible oil import duty by 2.5% may not have a significant impact on WIL. We continue to recommend BAL and WIL as laggards; otherwise, wait for better entry points.
Source: HwangDBS Research - 13 Jan 2014
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