KUALA LUMPUR: RHB Research has maintained its Buy on Felda Global Ventures (FGV) with a reduced fair value of RM4.55 from RM5.07, it said in a note on Tuesday.
“While we had expected to see bigger synergies from the acquisition of the remaining 51% stake in Felda Holdings Bhd, we believe this was affected by the lower productivity in 1H14 not only from FGV but from its external suppliers, which therefore affected capacity utilisation and profitability of its mills.
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