Labour woes for IOI Corp

“In line with our previous downward revision on both Sime Darby Plantations Bhd and FGV Holdings Bhd valuations, we also reduce our valuations on IOI Corp from 25 times to 23 times for plantation segment and 20 times to 18 times for manufacturing, ” PublicInvest Research said.

KUALA LUMPUR: IOI Corp Bhd’s valuations and shares could be negatively affected following US Customs and Border Protection’s (CBP) probe on the plantation group over forced labour allegations.

Last week, IOI said it would assist in any investigation after CBP said in a letter to an activist that it was investigating the firm over forced labour allegation.