New year, new rules NEUTRAL - Maintained by Ivy NG, CFA,

New year, new rules
NEUTRAL - Maintained
by Ivy NG, CFA,

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▍Two new set of regulations on palm oil in Malaysia and China, which could set the tone for near-term CPO prices, took effect on 1 Jan 2o13. We expect the overall net impact to be positive for Malaysian refiners but maybe short-term neutral to slight negative for CPO price. This is because we expect the positive impact from the export tax changes to more than offset the potentially weaker demand from China due to the new regulations for refiners. We maintain our Neutral rating on regional planters and our preference for Singapore planters. Our key picks are Wilmar, Golden Agri, Indofood Agri, SIMP, Samp Agro and BW Plants.


Source : Listri Valsa
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