Moody's Investors Service has affirmed the ratings of cash-rich IOI Corporation Bhd and maintained the stable outlook due to its strong liquidity profile with a large cash balance of RM2.3bil as of March 31, 2019.
KUALA LUMPUR: IOI Corp Bhd
’ s nine-month core net profit came in below expectations due to lower-than-expected crude palm oil (CPO) price and fresh fruit bunches (FFB) output, says CIMB Equities Research.
“We cut our earnings and target price for the weaker CPO price. We maintain ‘reduce’ as the stock appears fully valued, given its unexciting near-term earnings prospects,” the research firm said in a report.
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