RHB Group Research analysts have maintained “buy” on Bumitama Agri (BAL) with a higher target price of 80 cents from 71 cents previously following strong 1HFY2022 results.On the back of higher average selling prices (ASP) and fresh fruit bunches (FFB) output, BAL booked a 280% rise in 1HFY2022 e...

PALM oil producer Bumitama Agri on Friday (Aug 12) reported a net profit of 2.2 trillion rupiah (S$205.5 million) for the first half of the year ended June, up from earnings of 484 billion rupiah in the corresponding year-ago period. 

The price of crude palm oil (CPO) has fallen drastically on the unwinding impact of Indonesia’s export ban as well as fears of recession which has brought down all commodity prices.To this end, RHB Group Research analyst Hoe Lee Leng has tweaked her CPO price assumptions down for 2022 to RM5,100 p...

Analysts are mostly positive on Wilmar International after the group posted record earnings of US$1.16 billion ($1.61 billion) for the 1HFY2022 ended June.The higher earnings, which beat consensus’ estimates, were mainly attributable to the better performances across the group’s business segment...

DBS Group Research equity analysts Yeo Kee Yan and Janice Chua say that the market faces a “correction” this month according to historical trends, following the rebound seen in July.The Straits Times Index (STI) had a 3.35% month-on-month (m-o-m) rebound in July, in line with Yeo and Chua’s ex...

Indonesia’s temporary suspension of palm oil export levy will immediately increase domestic crude palm oil (CPO) and fresh fruit bunches (FFB) prices, according to UOB Kay Hian (UOB KH) analysts Leow Huey Chuen and Jacquelyn Yow.Indonesia had announced the temporary suspension of the levy from Jul...

Times are tough. Period. Just when the world was reaching the light at the end of the tunnel, another tunnel has appeared and again the light seems far away. The Covid-19 pandemic is almost history, but the world is smack in the middle of an ongoing war between Russia and Ukraine, as well as tension...

Maintaining the barbell approach recommended by analysts is proving heavy this year.Singapore investors not only have to contend with new waves of Covid-19 in July, as warned by health minister Ong Ye Kung, but also consider a host of worries abroad.RHB Group Research analyst Shekhar Jaiswal lists t...

RHB Group Research analyst Hoe Lee Leng has maintained "neutral" on the plantation sector given the continued uncertainty of the export policy in Indonesia.In her June 9 report, Hoe keeps "buy” on winners of the change in Indonesia’s palm oil export tax structure, which includes Bumitama Agri an...

Global issues like the Russsia-Ukrainian War and supply chain disruptions continue to affect markets around the world. RHB Group Investment Bank CEO Ganesh Sabaratnam observes that central banks today are treading a fine line between attempting to cap inflation without impacting economic growth — ...

RHB Group Research analyst Shekhar Jaiswal reiterates a barbell portfolio strategy recommendation with a mix of growth and defensive Singapore equities for 2QFY2022 amid the country’s reopening of international borders and the domestic economy.Although the reopening as well as the government’s a...

“As our CPO price assumptions are already lower than prevailing prices, we have not imputed any significant impact from the export ban on BAL’s earnings, as we expect this to be short-lived,” the analysts wrote.While the RHB analysts expect the earnings to remain robust, UOB KH analysts Jacque...

The Singapore research team at UOB Kay Hian has added AEM, Keppel Corporation (Keppel Corp) and Singapore Post (SingPost) to its alpha picks portfolio for the month of May.“We add AEM due to it being a beneficiary of Intel’s aggressive capex plans while Keppel’s inclusion stems from the large ...

Bumitama Agri Limited (BAL) has reported earnings of 873 billion rupiah ($87.3 million) for the 1QFY2022 ended March, 424% higher than earnings of 167 billion rupiah in the corresponding period the year before.Revenue for the quarter increased 69% y-o-y to 3.9 trillion rupiah.The higher figures were...

BUMITAMA Agri saw its net profit for the first quarter ended Mar 31, 2022 surge to 873 billion rupiah (S$83.4 million) from the previous year’s Q1 profit of 167 billion rupiah.