Johor Plantations To Benefits From High CPO Prices
Johor Plantations To Benefits From High CPO Prices
RHB Research also raised JPG's earnings forecasts by 13%, 25% and 11% for FY24 to FY26, further indicating that JPG, as a pure palm oil player, stands to gain substantially from these price dynamics.
RHB Investment Bank Bhd (RHB Research) has maintained a BUY call for Johor Plantations Group Bhd (JPG) as the company is expected to continue to benefit from the high crude palm oil (CPO) prices.
RhB投資銀行有限公司（RhB Research）維持對柔佛種植園集團有限公司（JPG）的買入看漲期權，因爲預計該公司將繼續受益於高昂的棕櫚油（CPO）價格。
RHB Research even upgraded JPG's target price to RM1.50 from RM1.20, a potential 19% upside for JPG, whose valuation remains appealing at 12.4 times projected financial year 2025 (FY25) earnings.
RhB Research甚至將JPG的目標價格從1.20令吉上調至1.50令吉，這對於JPG來說可能有19％的上漲空間。JPG的估值仍然具有吸引力，是2025財年（FY25）預計收益的12.4倍。
This positioning is supported by recent price hikes in CPO, which now exceed RM5,000 per tonne. These hikes were driven by multiple factors, including rising crude oil prices, South American soybean planting setbacks, Thailand's export restrictions and Donald Trump's US presidential election victory.
這一定位得到了近期CPO價格上漲的支持，目前每噸價格已超過5,000令吉。這些漲幅是由多種因素推動的，包括原油價格上漲、南美大豆種植受阻、泰國的出口限制和唐納德·特朗普在美國總統大選中獲勝。
RHB Research also raised JPG's earnings forecasts by 13%, 25% and 11% for FY24 to FY26, further indicating that JPG, as a pure palm oil player, stands to gain substantially from these price dynamics.
RhB Research還將JPG對24財年至26財年的收益預測分別提高了13％、25％和11％，這進一步表明作爲純棕櫚油的參與者，JPG將從這些價格動態中獲得可觀的收益。
In the short term, RHB Research noted that the price outlook remains susceptible to geopolitical and speculative forces, with crude oil price surges and political events likely to support CPO prices above RM4,000 per tonne for the near term.
在短期內，RhB Research指出，價格前景仍然容易受到地緣政治和投機力量的影響，原油價格飆升和政治事件可能會在短期內支撐CPO價格超過每噸4,000令吉。
Moving into 2025, market fundamentals are projected to improve further as Indonesia's output and stocks remain low, biodiesel mandates increase and supplies of competing oils like sunflower, rapeseed and canola tighten globally. This supply-demand shift could lead to a reduction in global oils and fats stocks to 12.4% of usage, significantly below the historical average of 13.6%.
進入2025年，隨着印度尼西亞的產量和庫存保持低水平，生物柴油需求的增加以及全球向日葵、油菜籽和菜籽等競爭油的供應緊縮，預計市場基本面將進一步改善。這種供需變化可能導致全球油脂庫存減少至使用量的12.4％，大大低於13.6％的歷史平均水平。
In 2025, RHB Research forecasts that CPO prices will remain high in the first half (1H25), ranging between RM4,400 and RM4,800 per tonne, before a seasonal peak in 2H25 drives a slight moderation to RM4,000-RM4,400.
2025年，RhB Research預測，CPO價格將在上半年（25年上半年）保持高位，在每噸4,400令吉至4,800令吉之間，之後2半年的季節性峯值將略有放緩至4,000令吉至4,400令吉。
With these projections, JPG appears well-positioned for strong returns, reinforcing the research house's optimism and highlighting opportunities for investors to maintain long positions in the stock.
根據這些預測，JPG似乎完全有能力獲得豐厚的回報，這增強了該研究機構的樂觀情緒，也凸顯了投資者維持股票多頭頭寸的機會。
譯文內容由第三人軟體翻譯。
