SINGAPORE (Oct 30): DBS is keeping its “hold” call on Indofood with a higher price target of 52 cents as a prospective drop in output, export levies, and export taxes continues to weigh on earnings despite potential recovery in 1Q16 CPO prices on reduced global inventory.

IndoAgri reported a 3Q15 net loss of Rp154 billion ($15.8 billion). This was below the Rp38 billion net loss expected.

Sugar sales volume was half of DBS’s forecast due to timing issues.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook