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Wednesday, February 23, 2011

OSK Research Maintains 'Sell' Call On Genting Plantations (BT)

OSK Research has maintained its 'sell' call on Genting Plantations Bhd (GPB) as the current price was still not attractive enough on a risk-reward basis.

The research firm said in the event of downcycle, GPB could weaken further and its production growth was not strong enough to counter the effects of weaker crude palm oil price on its earnings.

"The company continues to make good planting progress in Indonesia but will only see meaningful contribution to its earnings in calendar year 2013," it said in a research note on Wednesday.

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