Strong dividend outlook on Hap Seng Plantations

“Our top picks in Malaysia are Genting Plantations, Hap Seng Plantations and KL Kepong and regional picks are Wilmar and First Resources, ” it said.

KUALA LUMPUR: Kenanga Research has raised its target price on Hap Seng Plantations Bhd on expectation of strong cashflows on top of a sizeable cash surplus as well as a generous dividend outlook.

"Like many of its peers, robust cashflows can be expected from HSPLANT over FY21-23 but not many of its peers has a balance sheet as “liquid” as HSPLANT," said the research firm.