Friday 29 Mar 2024
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KUALA LUMPUR (Nov 30): CIMB IB Research has maintained its “hold” rating on FGV Holdings Bhd at 92 sen with a lower target price of 92 sen (from RM1.67) and said FGV reported a record loss of RM871 million in 9M18 due to RM788 million provisions for impairments and weaker performances from key divisions.

In a note Nov 29, the research house projected the group to remain in the red in 4Q18 due to the current low CPO price, excluding potential FV gain on LLA and insurance claims.

“Share price is currently at an all-time low due to concerns over a slow recovery in earnings.

“Cut earnings and target price but maintain Hold rating,” it said.

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