Maybank Research lowers CPO average selling price

“We  revise  down  our  2015/16/17  CPO ASP  forecasts  by -13/-8/-8% to  RM2,100, RM2,300, RM2,400 per tonne respectively (from RM2,400/2,500/2,600 per tonne).  For our US dollar forecasts, the revision was steeper at -19/-17/-16% incorporating a weaker ringgit of 3.80-3.90  (from 3.50).

“Incorporating  the  lower  CPO  ASP  and  FRS16,  we  cut  2015 - 17 net profit forecasts of companies under our coverage by -4-60% (except Ta Ann, with 2015’s earnings lifted by timber earnings),” it said on Wednesday.