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RHB favours First Resources despite sector wide ESG concerns

Jeffrey Tan
Jeffrey Tan8/2/2021 02:51 PM GMT+08  • 3 min read
RHB favours First Resources despite sector wide ESG concerns
Shares of palm oil companies have “retreated even further” despite CPO prices having breached the RM4,000 level lately, says RHB.
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RHB Securities may downgraded the regional palm oil sector to “underweight” rating from “neutral” previously, owing to increasing environment, social and governance (ESG) concerns.

And as a result, the brokerage has lowered its valuation targets and ESG scores for palm oil companies across the board and within its coverage.

But RHB continues to favour one palm oil company: First Resources.

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