“We revise down our 2015/16/17 CPO ASP forecasts by -13/-8/-8% to RM2,100, RM2,300, RM2,400 per tonne respectively (from RM2,400/2,500/2,600 per tonne). For our US dollar forecasts, the revision was steeper at -19/-17/-16% incorporating a weaker ringgit of 3.80-3.90 (from 3.50).
“Incorporating the lower CPO ASP and FRS16, we cut 2015 - 17 net profit forecasts of companies under our coverage by -4-60% (except Ta Ann, with 2015’s earnings lifted by timber earnings),” it said on Wednesday.
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