Apex Securities Turns Bullish on SWKPLNT After Pullback, Upgrades to Buy

Ng Han Siang (Einod) · November 11, 2026

AI-assisted, reviewed by Ng Han Siang (Einod)

Apex Securities analyst Ong Yong Jen upgraded Sarawak Plantation to “Buy” from “Hold”, with a RM4.51 target price, following its recent share-price pullback. This implies 17.1% price upside, or approximately 23.1% potential total return, including a projected 6% dividend yield.

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At the sector level, Ong maintained “Overweight” and his average crude palm oil (CPO) price forecasts of RM4,500 per tonne for 2026 and RM4,700 for 2027. Although Malaysian inventories reached 3.62 million tonnes in October, he believes production easing from its seasonal peak could support subsequent stock drawdowns.

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Delayed El Niño effects on yields and biodiesel demand should also support prices, with more severe or prolonged production disruptions offering upside to his assumptions.

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Nevertheless, Ong sees potential pressure from higher minimum wages in the second half of 2027. He also cautions that easing Middle East tensions could lower crude-oil prices and weigh on CPO through weaker biodiesel economics. If energy prices fall faster than palm oil prices, Indonesia’s subsidy burden could increase, potentially complicating further biodiesel expansion.

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As of 12:29 p.m. on November 11, Sarawak Plantation’s share price rose 2.6% to RM3.95.

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Disclaimer: All content is AI-aggregated from public sources for informational and educational purposes only. StockTipRatings.com does not constitute investment advice. Past performance and historical statistics are no guarantee of future returns.

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