Rising CPO prices in 2H to propel Hap Seng

PETALING JAYA: Hap Seng Plantations Holdings Bhd’s second-half (2H) earnings are expected to be better than its 1H on the back of higher sales volume and crude palm oil (CPO) prices, according to CGS International Research (CGSI Research).

The company’s second quarter of the year (2Q24) CPO average selling price (ASP) was RM4,247 per tonne, higher than the Malaysian Palm Oil Board Sabah CPO spot price of RM4,038 per tonne.