Strong dividend outlook for Hap Seng Plantations

“Like many of its peers, robust cashflow can be expected from Hap Seng Plantations over financial year 2021 to 2023 (FY’21-FY’23) but not many of its peers has a balance sheet as “liquid” as the planter,” said Kenanga Research.

KUALA LUMPUR: Kenanga Research has raised its target price on Hap Seng Plantations Bhd on expectation of strong cashflows on top of a sizeable cash surplus as well as a generous dividend outlook.

“Like many of its peers, robust cashflow can be expected from Hap Seng Plantations over financial year 2021 to 2023 (FY’21-FY’23) but not many of its peers has a balance sheet as “liquid” as the planter,” said the research firm.