0538 GMT - Demand for Bumitama Agri's palm-oil products is likely to be supported through 2025 on the implementation of Indonesia's 'B40' biodiesel program, OCBC Investment Research's Ada Lim says in a research report. The program, slated to begin on Jan. 1 next year, uses palm-oil based biodiesel. Bumitama Agri's superior productivity, high-quality plantations, and continued focus on maximizing its current plantations puts it in a good position to deliver on above-industry average yields and to capitalize on supportive long-term industry fundamentals, the analyst says. OCBC raises the stock's fair value estimate to S$0.915 from S$0.815 with an unchanged hold rating on valuation grounds. Shares are 0.6% higher at S$0.885. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
December 16, 2024 00:38 ET (05:38 GMT)
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