Higher CPO price, FV gain boost 3Q profit
■ KLK’s 3QFY9/21 core net profit was a beat, thanks to higher CPO prices.
■ We expect 4Q core net profit be weaker qoq due to lower downstream profit.
■ Maintain Add with a lower TP of RM22.49 due to attractive valuations and
potential earnings upside from proposed acquisition of IJMP.