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.

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