<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 24): Hong Leong Investment Bank (HLIB) Research has maintained its “neutral” rating on the plantation sector and said the current weakness in crude palm oil (CPO) price will likely be temporary (and recover from 2024), supported by favourable palm oil, gas oil (POGO) spread and heightened supply risk from El Nino.</p></div>

<div class=newsTextDataWrapInner><p>In a sector update on Tuesday, the research house tweaked its 2023 CPO price assumption lower (by RM150) to RM3,850 per metric tonne (/mt), but raised 2024 CPO price assumption (by RM200) to RM4,000/mt.</p></div>

<div class="mt-3  imgw-300 embed-right"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="//assets.theedgemarkets.com/pics/2023/plantation-stock-hlib-2410.png"><img alt="" src="https://assets.theedgemarkets.com/pics/2023/plantation-stock-hlib-2410.png" /></a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“We will only adjust earnings forecasts, target prices (TPs) and ratings on individual planters (to reflect our new CPO price and FFB output assumptions) in the upcoming results season (starting from Nov 2023).</p></div>

<div class=newsTextDataWrapInner><p>“For exposure, our top pick remains IOI Corp Bhd (“buy”; TP: RM4.66),” it said.</p></div>


Hong Leong Investment Bank (HLIB) Research has maintained its “neutral” rating on the plantation sector and said the current weakness in crude palm oil (CPO) price will likely be temporary (and recover from 2024), supported by favourable palm oil, gas oil (POGO) spread and heightened supply risk from El Nino.

HLIB raises 2024 CPO price assumption to RM4,000/mt

(Dec 22): Emerging markets (EM)-focused investors have had little to celebrate over the past year. Or for that matter, over the past decade. Now the prospect of Donald Trump’s tariffs and trade wars has some considering abandoning them altogether.

For emerging markets, ‘better luck next year’ is hard to believe

SEREMBAN (Dec 22): Barisan Nasional (BN) chairman and Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi has assured that Umno and Barisan Nasional (BN), as component parties, will be fully committed to the Unity Government until the next election.

Umno and BN will remain a part of Unity Govt for GE16 — Ahmad Zahid

(Dec 22): Singapore Post Ltd (SingPost) fired its chief executive officer and several other senior leaders following allegations related to its international e-commerce logistics parcels business.

SingPost fires CEO, execs after whistleblowing report

BENGALURU (Dec 22): Japan's competition watchdog is expected to find Google guilty of violating the country's antitrust law, Nikkei Asia reported on Sunday, citing sources.

Japan's antitrust watchdog expected to find Google guilty of violating country's law in search case, Nikkei reports

BENGALURU (Dec 22): Qatar will stop shipping gas to the EU if member states strictly enforce a new law cracking down on forced labour and environmental damage, Energy Minister Saad al-Kaabi told the Financial Times (FT) in an interview published on Sunday.

Qatar vows to stop EU gas sales if fined under due diligence law, FT reports

(Dec 22): One of China’s leading developers is now on authorities’ radar for default risk. A major Hong Kong builder is asking lenders to extend loans. Another industry peer is selling an iconic but largely empty mall in Beijing.

China property flare-ups resurface as crisis enters fifth year

(Dec 22): Indonesia claimed victory after Apple Inc offered to increase its investment in the country to US$1 billion (RM4.50 billion) to get President Prabowo Subianto’s government to lift a ban on the sale of iPhone 16s. The win may be short-lived.

Apple’s US$1b investment may be fleeting win for Indonesia

KUALA LUMPUR (Dec 22): Prime Minister Datuk Seri Anwar Ibrahim stated that the Madani government has implemented strategic initiatives throughout 2024, to drive long-term prosperity for the people and the nation.

2024 economic highlights: Madani government drives long-term prosperity — Anwar

KUALA LUMPUR (Dec 22): The Malaysia International Trade and Exhibition Centre (Mitec), owned by Malaysia External Trade Development Corporation (Matrade), has announced the signing of a memorandum of understanding (MOU) between Qube Integrated Malaysia Sdn Bhd and the Asia CEO Community.

Qube Integrated Malaysia inks MOU with Asia CEO Community, unveils Mitec card

BEIJING (Dec 22): China's Nio on Sunday said it would launch its new Firefly electric-vehicle (EV) brand in Europe early in the first half of 2025 (1H2025), betting that it would help the company overcome European Union (EU) tariffs.

China’s Nio says new Firefly EV to go on sale in Europe in 1H2025

<p>(Dec 22):&nbsp;One of China’s leading developers is now on authorities’ radar for default risk. A major Hong Kong builder is asking lenders to extend loans. Another industry peer is selling an iconic but largely empty mall in Beijing.</p>


<p>(Dec 22):&nbsp;Indonesia claimed victory after Apple Inc offered to increase its investment in the country to US$1 billion (RM4.50 billion) to get President Prabowo Subianto’s government to lift a ban on the sale of iPhone 16s. The win may be short-lived.</p>


<p>(Dec 22):&nbsp;Singapore Post Ltd (SingPost)&nbsp;fired its chief executive officer and several other senior leaders following allegations related to its international e-commerce logistics parcels business.&nbsp;</p>


<p>KUALA LUMPUR (Dec 22): Prime Minister Datuk Seri Anwar Ibrahim stated that the Madani&nbsp;government has implemented strategic initiatives throughout 2024, to drive long-term prosperity for the people and the nation.</p>


<p>(Dec 22): Cocoa’s rally has soared past all major commodities in 2024, and there’s little sign the tight supply and fragile trading landscape that prompted its near-vertical trajectory are in for a fast fix.</p>


Cocoa caps 2024 as biggest commodity winner. It’s not over yet

<p>BEIJING (Dec 22): China's Nio on Sunday said it would launch its new Firefly electric-vehicle (EV) brand in Europe early in the first half of 2025 (1H2025), betting that it would help the company overcome European Union (EU) tariffs.</p>


<p>KUALA LUMPUR (Dec 22): The Malaysia International Trade and Exhibition Centre (Mitec), owned by Malaysia External Trade Development Corporation (Matrade), has announced the signing of a memorandum of understanding (MOU) between Qube Integrated Malaysia Sdn Bhd and the Asia CEO Community.</p>


<p>(Dec 22):&nbsp;Emerging markets (EM)-focused investors have had little to celebrate over the past year. Or for that matter, over the past decade. Now the prospect of Donald Trump’s tariffs and trade wars has some considering abandoning them altogether.</p>


<p>SEREMBAN (Dec 22): Barisan Nasional (BN) chairman and Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi has assured that Umno and Barisan Nasional (BN), as component parties, will be fully committed to the Unity Government until the next election.</p>


<p>(Dec 22):&nbsp;The European Central Bank (ECB) will go on lowering borrowing costs in 2025, according to Governing Council member Boris Vujcic.</p>


ECB rate cuts will continue next year, Vujcic tells Croatian state broadcaster

<p>BENGALURU (Dec 22): Qatar will stop shipping gas to the EU if member states strictly enforce a new law cracking down on forced labour and environmental damage, Energy Minister Saad al-Kaabi told the <em>Financial Times</em>&nbsp;(<em>FT</em>) in an interview published on Sunday.</p>


<p>BENGALURU (Dec 22): Japan's competition watchdog is expected to find Google guilty of violating the country's antitrust law, <em>Nikkei Asia </em>reported on Sunday, citing sources.</p>
