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Company Update � Ta Ann (BUY, maintain)
- Plantation as the main driver We believe Ta Ann�s 2Q16 earnings from the timber division will likely be lower yoy due to weaker timber product prices but should be offset by the plantation division given the higher CPO prices as well as increase in FFB and CPO production. No changes were made to our 2016-18E earnings forecasts prior to the release of results on 29 August. We maintain our BUY rating on Ta Ann with an unchanged TP of RM4.42.
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| For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports. |
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