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Kim Loong Resources (KLR) ended the year on a weak note. Net profit declined by 17.9% QoQ to RM36mil in 4QFY26 dragged by lower palm product prices and higher costs of wages and transportation.
In spite of this, the group’s results were within our expectations as we had already anticipated this.
“We believe that the cost of wages rose QoQ in 4QFY26 due to a higher minimum wage and EPF contribution for foreign workers. The cost of transportation increased as there were restrictions on the loading weight of the trucks.
“We maintain BUY with a target price of RM3.00/share as being a pure planter, KLR is expected to benefit from rising CPO prices,” says AmBank Research.
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