MIDF Research has maintained a ‘Positive’ stance on the plantation sector with a target price for Crude Palm Oil (CPO) of RM3,300 per tonne in calendar year 2022 (CY22).
In a research note, it said for November 2021, the average CPO spot price increased 4.7 per cent month-on-month (m-o-m) to RM5,331.60 per tonne from RM5,094.42 per tonne in the previous month.
On year-on-year (y-o-y) basis, the average CPO spot price jumped 55.0 per cent from RM3,440.83 per tonne in November 2020. The CPO price hit the highest on Nov 19, 2021 at RM5,444.00 per tonne
THE recently ended third quarter (Q3) earnings season has now provided investors a glimpse of what is to come in 2022 as the relatively respectable quarterly results has now been overshadowed by a barrage of downgrades in earnings forecast for next year, mainly due to the one-off effect from Cukai Makmur or Prosperity Tax, which was announced in Budget 2022.
KUALA LUMPUR: Malaysian banks continued to display resilience in 2021 and performed better than in the previous year despite persistent economic headwinds with prolonged movement restrictions, moratoriums and repayment assistance, thanks to the buffers and structural strength built over the years.