Kenanga turns positive on IOI Corp

The plantation group had previously guided for FFB growth to be negative-to-flat at best. The new guidance for flat-to-positive growth offers significant upside to Kenanga’s expectation of -3% growth, said the research house.

PETALING JAYA: Following guidance from IOI Corp Bhd that there will be no decline in fresh fruit bunch growth for financial year 2021 (FY21), Kenanga Investment Bank Research has turned more positive on the stock.

The plantation group had previously guided for FFB growth to be negative-to-flat at best. The new guidance for flat-to-positive growth offers significant upside to Kenanga’s expectation of -3% growth, said the research house.