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CIMB Research maintains Neutral on plantations

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CIMB Research maintains Neutral on plantations Empty CIMB Research maintains Neutral on plantations

Post by hlk Tue 31 Jul 2012, 09:20

KUALA LUMPUR: CIMB Equities Research is maintaining the plantations sector as a Neutral and keeps Sime Darby as its top pick.

It said on Tuesday that Malaysia's reported 2.0 millions tonne increase in tax-free CPO export quotas would, if true, be bad news for Malaysian refiners as it would reduce the availability of domestic CPO and reduce refineries' utilisation rates.

“Such a move would be positive for CPO producers as it would reduce stocks and boost near-term CPO prices.

“Pure CPO producers would benefit while integrated players and standalone refiners could see lower downstream earnings. We maintain the sector as a Neutral and keep Sime as our top pick,” said CIMB Research.
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