$HSPLANT / 5138 (HAP SENG PLANTATIONS HOLDINGS BERHAD)
Research by Kenanga
Market Perform – TP RM2.00

“Buoyed by Lower Production Cost"

HSPLANT’s 1QFY24 results met our expectation but disappointed the market. Its 1QFY24 core net profit rose 6% YoY as lower production cost and better palm kernel prices more than offset weak CPO prices and FFB production. We maintain our forecasts, TP of RM2.00 and MARKET PERFORM call.

Analyst:
Teh Kian Yeong
tehky@kenanga.com.my