A research firm said QL was less affected by headwinds in the livestock farming industry following the recent increase in corn and soybean prices.
’s transition out of the palm oil business to focus on environmental, social and governance -friendlier operations could see the group restructuring its plantation assets, according to UOB Kay Hian Research.
The research firm noted that QL’s balance sheet was robust with a net gearing of 0.23 times for the financial year 2023 . Hence, it did not think QL was in dire financial need to retain the potential disposal proceeds. On the other hand, the group’s integrated livestock farming segment should continue to realise decent contributions over the near term.
“Positively, the government’s subsidy of eggs remains in place until June. As a result, the segment is expected to remain profitable,” it added. This confluence of factors, according to UOBKH Research, will support robust ILF contributions heading into FY24.
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