PALM oil plantation owner Golden Agri-Resources is expecting crude palm oil (CPO) prices to remain strong for the rest of the year, as dry weather conditions keep supply tight and the post-pandemic recovery in economic activity supports demand.

Despite Golden Agri-Resources’ weaker-than-expected results for 1QFY2021 ended March 31, RHB Securities has kept its “trading buy” rating and target price of 30 cents for the palm oil company. The continued optimism is driven by the expectation that the company will record better earnings in t...

THE following companies saw new developments that may affect trading of their securities on Friday:

GOLDEN Agri-Resources has swung back into the black with a net profit of US$41 million for its first quarter ended March 31, 2021, compared with a net loss of US$95 million the previous year.

Golden Agri-Resources has reported earnings of US$41 million for 1QFY21 ended March, sharp swing from losses of US$95 million incurred in the year earlier period. Revenue in the same period was US$2 billion, up 24% y-o-y from US$1.66 billion, thanks to higher crude palm oil prices, which appreciated...

GOLDEN Agri-Resources has swung back into the black with a net profit of US$41 million for its first quarter ended March 31, 2021, compared with a net loss of US$95 million the previous year.

RHB Securities has turned more optimistic on Golden Agri-Resources as it expects the palm oil company to continue to gain from a widening tax differential. The brokerage has raised its target price for the stock to 30 cents from 25 cents previously. It has kept its “trading buy” call for the sto...

RHB Group Research analyst Shekhar Jaiswal says the cabinet reshuffle, which will see Lawrence Wong becoming the new Minister for Finance, as well as other shifts within six other ministries, will not impact his view on Singapore’s economic or market outlook. “We expect Singapore to remain polit...

As Golden Agri-Resources’ results for FY2020 ended Dec 31 were unexpectedly lifted by strong crude palm oil (CPO) prices and a new Indonesian export levy structure, most analysts are now turning positive on the palm oil player. CGS-CIMB Research has upgraded its rating for the stock to “hol...

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