Muted near-term downstream earnings likely for planters

PETALING JAYA: Hong Leong Investment Bank (HLIB) Research says the plantation sector is likely to see subdued near-term downstream earnings due to the overcapacity of refineries in Indonesia and a weak global economy.

In a report, the research house said out of the seven planters under its coverage, five fell below expectations while Hap Seng Plantation Holdings Bhd and TSH Resources Bhd came in within.