[%pzWl%]
Research by RHB
Buy (Maintained) – TP RM3.30

“Momentum Remains Strong; Maintain BUY"

Maintain BUY, with new MYR3.30 TP from MYR3.20, 14% upside with c.3% yield. Sarawak Oil Palms’ earnings should be boosted by decent FFB growth and improving downstream utilisation, albeit partially offset by slightly higher CPO unit costs. We believe the stock remains attractive, trading at 7.5x FY24F P/E vs the peer range of 7-10x P/E.

Analyst:
Hoe Lee Leng 
[%ZPQS%]

$KLSE-SOP
Research by RHB
Buy (Maintained) – TP RM3.30

“Momentum Remains Strong; Maintain BUY"

Maintain BUY, with new MYR3.30 TP from MYR3.20, 14% upside with c.3% yield. Sarawak Oil Palms’ earnings should be boosted by decent FFB growth and improving downstream utilisation, albeit partially offset by slightly higher CPO unit costs. We believe the stock remains attractive, trading at 7.5x FY24F P/E vs the peer range of 7-10x P/E.

Analyst:
Hoe Lee Leng 
hoe.lee.leng@rhbgroup.com