KUALA LUMPUR: HwangDBS Vickers Research is maintaining its “Hold” call on Felda Global Ventures Bhd (FGV) with a target price of RM4.40 as it does not expect any near-term re-rating catalyst due to its lacklustre earnings outlook, weak crude palm oil prices and stagnant fresh fruit bunches volume growth potential.
It said FGV has proposed to acquire 95% stake in PT Temila Agro Abadi (PT TAA) and PT Landak Bhakti Palma (PT LBP) for RM25.9mil (US$1,040/ha) and RM18.3mil (US$470/ha), respectively where they are expected to be completed by 4Q13.
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