Friday, March 10, 2017

· Plantation companies we review posted good operating results for 4Q16 boosted by high

Credit Flash: 4Q16 results
·         Plantation companies we review posted good operating results for 4Q16 boosted by high CPO prices and recovering crop production as El Nino effect wanes, ending 2016 on a decent note.
·         Credit metrics remain broadly stable with notable improvements for BAL whose 2019 bonds offer good value.
·         We keep an eye on GAR’s refinancing plan for the MYR1.5b sukuk due in Nov 2017 amid tight liquidity position.

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