OCBC Investment Research, 9 December 2025
Excerpt from OCBC Investment Research report.
Report Summary
- Bumitama Agri Ltd (BAL), a leading Indonesian palm oil producer, is rated HOLD with a fair value of SGD 1.45, following a recent share price correction that makes its risk-reward profile more attractive, but with limited upside from current levels.
- OCBC expects crude palm oil (CPO) prices to soften slightly in 2026, but BAL remains appealing for its solid dividend yield (estimated at 5.3% for FY26) and strong long-term fundamentals, including productivity, sustainability progress, and commitment to shareholder returns.
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