0219 GMT - SD Guthrie's Marvesa 48% stake acquisition looks set to help strengthen its downstream business expansion, diversify into other soft oils and boost trading between Europe and Asia-Pacific, MIDF Research says in a note. The 250 million ringgit acquisition comes as a surprise, particularly as many of the company's peers have adopted a cautious stance toward the region due to the impending European Union deforestation regulation policy, it notes. However, considering the plantation giant's strong supply-chain credentials, SD Guthrie views Europe as a key growth driver, MIDF says. SD Guthrie's balance sheet remains healthy and is well-positioned for expansion, it adds. MIDF maintains a buy rating on SD Guthrie and keeps its target price at MYR5.43. Shares are 0.6% higher at MYR4.88. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
February 03, 2025 21:19 ET (02:19 GMT)
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