Malaysia’s zero export duty tax bodes well for First Resources, Golden Agri; but not Bumitama: RHB

SINGAPORE (June 26): The reduction of Malaysia’s export duty on crude palm oil (CPO) to zero in June from 4.5% in May has a contrasting impact on several Singapore-listed and Indonesia-based palm oil companies.

While the new export tax structure bodes well for First Resources and Golden Agri-Resources, Bumitama Agri is at a disadvantage.

According to RHB Securities, Bumitama Agri – which is a pure upstream player – will have to bear the brunt of the higher taxes.

---

Related Stories

• HRnetGroup to see growth led by economic recovery in Singapore and China: RHB
• DBS lifts Bumitama Agri’s FY2023 earnings after 9MFY2023 earnings surpass expectations
• Bumitama Agri’s 3QFY2023 net profit up by 33% y-o-y at IDR874 bil

---