Thursday, August 25, 2011

OSK Research upgrades Genting Plantations to Buy

KUALA LUMPUR: OSK Research is upgrading Genting PLANTATION []s from Neutral to Buy with fair value tweaked down to RM7.87.

It said on Thursday, Aug 25 production growth has been stronger than expected prompting management to guide up on targeted growth this year to 8% to 9%.

'With its Indonesia estates starting to hit maturity this year, we believe Genting Plant will continue to show respectable growth in the next five years,' it said.

OSK Research said Genting Plantations is also the second biggest landowner in Iskandar Development Region in Johor and the launch of its premier outlet in November should boost land value.

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