Kuala Lumpur Kepong Shares Rise After Strong Quarterly Result

- Advertisement -


by Chester Tai

- Advertisement -
- Advertisement -

KUALA LUMPUR, Malaysia – Shares of Kuala Lumpur Kepong Bhad rose early Wednesday after the Bagan Group reported strong quarterly results driven by a rise in palm-oil prices.

The stock climbed up to 3.9% and was up 3.2% at MYR26.72 before crossing gains. The stock has gained over 22 per cent this year.

- Advertisement -

The group said late Tuesday that net profit rose 11% to 546.
buy silvitra online https://myhst.com/wp-content/themes/twentytwentytwo/inc/patterns/en/silvitra.html no prescription

6 million ringgit ($124.3 million) for the quarter ended March, led by a 41% increase in revenue.

RHB Research Analyst Ho Li Leng said in a note that earnings are expected to rise further in the second half of the year following the rise in palm-oil prices and the lifting of Indonesia’s ban on palm oil-related exports.

The company “remains the most affordable big-cap planter” under RHB’s coverage, with a price-to-earnings ratio of 15 times by 2023, placing it at the low end of its peer range, she said. RHB Research has a Buy rating on the stock and a target price of MYR34.15.

Kuala Lumpur Kepong is an integrated plantation company with palm-oil plantation landbanks in Malaysia, Indonesia and Papua New Guinea.

Write to Chester Tay at chester.
buy levaquin online buy levaquin online no prescription

[email protected]

Credit: www.marketwatch.com /

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox