CGS-CIMB and UOB Kay Hian (UOBKH) have downgraded their calls on First Resources from “add” and “buy”, respectively, to “hold” after the Indonesian palm oil producer reported its results for the first quarter ended Mar 31, 2022.

That said, the group expects global edible oil prices in the near term to be supported due to the resultant curtailment of palm oil exports from Indonesia, together with the tightening of sunflower oil supplies from the Russia-Ukraine conflict despite the export ban from Indonesia.That said, the ban...

THE following companies saw new developments that may affect trading of their securities on Friday (May 13):

INDONESIA palm oil producer First Resources posted a net profit of US$73.6 million for its first quarter ended Mar 31, 2022, jumping by 738.5 per cent from the US$8.8 million it recorded a year earlier.

RHB Group Research analyst Hoe Lee Leng is keeping “neutral” on the plantation sector, with top picks including Wilmar International.In her April 25 note, Hoe says that Indonesia’s ban on its palm oil exports, which will start on April 28, may not necessarily have the effects it desires.The mo...

Russia and Ukraine are two large producers of sunflower seeds, aside from producing some small amounts of soybean and rapeseed. Together, they produced 40 million tonnes of oilseed in 2021 or 7% of total global oilseed supply. In 2022, this is forecasted to rise to 46 million tonnes or 8% of global ...

Other commodities like wheat and oil also saw spikes in prices after Russian President Vladimir Putin invaded Ukraine on Feb 24. Both Russia and Ukraine are major crop producers, accounting for a quarter of global wheat exports.On March 8, wheat prices climbed to their highest levels ever amid fears...

DBS Group Research analyst William Simadiputra has kept his “buy” call for First Resources, citing rising earnings prospects on strong crude palm oil (CPO) price outlook and production volume growth.In his March 21 report, Simadiputra believes there is room for the share price to further perform...

Although Wilmar International may post lower profit in 2022, it will still be the outperformer among the integrated agribusiness companies, according to UOB Kay Hian Research analysts Leow Huey Chuen and Jacqueline Yow Hui Li. In their March 11 report, the analysts note that Wilmar’s 2022 performa...

In their March 8 report, CGS-CIMB Research analysts Lock Mun Yee and Lim Siew Khee say they advocate a risk-off approach in the near term by positioning in REITs for their yield and stability. At the same time, the analysts recommend that investors should watch for a tactical entry into banks for th...