Maybank IB Research raises IOI Corp to Hold, ups TP

However, it pointed out IOI may not fully benefit from the recent spike in CPO average selling price in 1QFY21E of RM2,771/t (+37% YoY, +22% QoQ) due to the usual one month forward sales typical of integrated players (that is time-lag).

KUALA LUMPUR: IOI Corporation may not fully benefit from the recent spike in crude palm oil (CPO) price in 1QFY21E due to the usual one-month forward sales typical of integrated players, Maybank Investment Bank Research says.

In its research note issued on Monday, it said however the 1Q headline profits may get a boost from forex gain on its US debts.