Kenanga raises profit expectations for United Malacca

KUALA LUMPUR: Kenanga Investment Bank Research has turned more optimistic over United Malacca Bhd's prospects for its current financial year with expectations for the group to turn profitable.

The research house, which has a "market perform" recommendation on the stock, had said in an earlier report that that the plantation firm should "more or less" break even on lower CPO prices, but would need more time to turn profitable.