Genting share price

2023 - 1 - 9

Post cover
Image courtesy of "The Edge Markets MY"

Sector Of The Year: The 'golden crop' shines bright on external ... (The Edge Markets MY)

LIKE many other commodities, Malaysia's golden crop — palm oil — went through a whirlwind of a year. The upward trend in prices saw interest return to ...

You don’t want to be in a market situation where upstream CPO is moving out of the country,” he adds. The strict zero-Covid policy in China, which is a major importer of Malaysian palm oil, has weighed on CPO demand. This also means Indonesia will have a smaller supply for the export market, causing more international buyers such as India to depend on Malaysia for their supply of CPO,” he adds. “Plantation stocks rallied in the early part of this year, attributed mainly to the all-time high prices of CPO as a result of the Ukraine and Russia conflict. According to the MPOB, in August this year, the oil palm plantation sector’s total labour requirement was 437,212. But this is going to be a mid-term issue and will always be on investors’ minds,” says Ng. Genting Plantations Bhd shares fell 3.45% in the February-to-May period despite posting the highest share price of RM9.16 on March 3. This prompted the Malaysian Palm Oil Board (MPOB) to warn millers in late June to continue buying FFB or have their licences revoked. On a year-to-Dec 22 basis, the stock rose only 1.14% to RM21.26. Worries over a global recession added to the short-lived rally in CPO prices. “You will have to look at palm and related oils because Ukraine and Russia together are exporters of sunflower oil. Palm oil was sought after as buyers rushed to secure replacement stocks for sunflower oil shipments, which were disrupted by Russia’s invasion of Ukraine.

Post cover
Image courtesy of "The Edge Markets MY"

The Edge Best Call Awards 2022 (The Edge Markets MY)

THE 17th edition of The Edge Best Call Awards received 73 recommendations for 53 stocks from 13 research outfits. This is about the same as 71 ...

Those who bought when he reiterated his “buy” call in November 2021 would have made a gain of 50%as the stock closed at RM3.76 on Dec 20 this year. In September, Chan upgraded the stock to “outperform” after Velesto rebounded from the trough to 10 sen and he pegged the target price at 16 sen. When he upgraded his call to a “buy” on Feb 2, 2021, there were only four “buy” calls versus eight “holds” and three “sells”, Bloomberg data shows. She reiterated her “buy” call in November 2021, with a target price of RM2, when the stock was RM1.44. TSH’s share price had inched higher to RM1.03 on Dec 14 this year when Gan maintained a “sell” call with the same target price of 85 sen. “Being the largest jack-up rig player in Malaysia, we felt that this would certainly translate into continued losses for Velesto, unless the group manages to improve its competitiveness and reduce its reliance on Petronas,” he explained in his submission. Since Nov 11, Gan has upgraded her call on KLK to a “hold”, with a target price of RM21.75, a call that was maintained on Dec 14 this year. “We were the first to highlight the potential of value unlocking exercises sooner rather than later and the case for special dividends. Investors who purchased PPB shares — when Leow and Yow upgraded their recommendation from a “sell” to a “buy” on Aug 9 this year, with a target price of RM18.55 when PPB’s share price closed at RM16.28 — would already be sitting on decent portfolio gains, with PPB shares closing at RM17.84 on Dec 16. Gan had cut her target price for TSH to 85 sen on July 13 this year when the stock price was 92 sen. Similarly, TSH shares closed as high as RM1.719 on April 11 this year, about 15% more than the RM1.497 when Gan cut her recommendation to a “sell”, but the downside is more than 40%, if measured from the lowest point in July as well as October this year. Both UOB Kay Hian and AmInvestment had “hold” recommendations on Genting Plantations at the time of writing.

Explore the last week