Tuesday, March 8, 2016

Golden Agri

Golden Agri: CIMB maintains Reduce with TP: $0.35
-Management guides 2016 FFB output could fall by 8-10% on El-Nino effects
-CIMB estimates costs could up by 11% to US$310/tonne
-Higher depreciation also drag on earnings.
- Management plans to improve FFB yields via replanting of old estates with superior yield seeds

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