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Bumitama Agri poised to ride through Covid-19 impact: Maybank

Felicia Tan
Felicia Tan4/29/2020 03:56 PM GMT+08  • 1 min read
Bumitama Agri poised to ride through Covid-19 impact: Maybank
The way Maybank Kim Eng analyst Ong Chee Ting sees it, BAL remains a “buy” with an unchanged target price of 78 cents for its “medium-term prospect with its relatively younger trees of an average age of 10.6 years old”.
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SINGAPORE (Apr 29): Analysts at Maybank Kim Eng are optimistic that Singapore-listed Bumitama (BAL) Agri may emerge from the Covid-19 impact relatively unscathed.

According to its April 29 report, the Indonesian oil palm plantation operator reported normal operations in its plantations in a conference call with the brokerage last week.

This is due to Covid-19 prevention measures implemented since early March, local sales, manageable storage supply, and a lack of logistical issues despite the partial lockdown in Indonesia so far.

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