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Golden Agri-Resources still under the weather: OCBC

Stanislaus Jude Chan
Stanislaus Jude Chan5/16/2018 11:14 AM GMT+08  • 2 min read
Golden Agri-Resources still under the weather: OCBC
SINGAPORE (May 16): OCBC Investment Research is maintaining its “hold” call on Golden Agri-Resources (GAR) and lowering its fair value estimate to 34 cents, from 37 cents previously.
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SINGAPORE (May 16): OCBC Investment Research is maintaining its “hold” call on Golden Agri-Resources (GAR) and lowering its fair value estimate to 34 cents, from 37 cents previously.

“GAR’s operating performance will continue to be affected by the prices of crude palm oil (CPO) and competing seed oils, fluctuating foreign currency exchange rates and weather conditions,” says lead analyst Low Pei Han in a report on Tuesday.

GAR in the 1Q18 ended March reported a 68% drop in earnings to US$12 million – accounting for only 6% of analysts’ full-year estimates.

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