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UOB maintains ‘market weight’ on plantation sector on hopes of better 2H20

Lim Hui Jie
Lim Hui Jie8/25/2020 02:17 PM GMT+08  • 3 min read
UOB maintains ‘market weight’ on plantation sector on hopes of better 2H20
UOB Kay Hian has maintained its “market weight” recommendation on the Singapore plantation sector upon improved y-o-y earnings in 1H20, and expectations of a better 2H20.
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UOB Kay Hian has maintained its “market weight” recommendation on the Singapore plantation sector upon improved y-o-y earnings in 1H20, and expectations of a better 2H20.

UOB Kay Hian analysts Leow Huey Chuen and Jacquelyn Yeow noted the reason behind most companies’ better 1H20 earnings was due to better selling prices despite lower sales volume and production.

This is except for Golden Agri Resources (GGR), which remained in net loss for 1H20 due to higher operating expense.

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