Share price of the Genting Bhd plantation subsidiary has risen 20% over the past six months following a re-rating of the plantation sector. A Singapore-based brokerage has upgraded its recommendation to a buy on Asiatic given the prospects of its oil palm plantation joint venture in Indonesia as well as expectations of higher fresh fruit bunches from its Malaysian operation. The brokerage said Asiatic's JV with Indonesia's Sepanjang Group to develop 98,300ha in West Kalimantan would expand its landbank to 164,316ha, making it Malaysia's sixth largest plantation company in terms of land and ensuring growth over the next 10 to 15 years.
GENTING : [Stock Watch] [News]
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