CG Concerns Overhang on FGV

Export figures in September declined 14% y-o-y, 20% m-o-m largely from a fall in contribution from China and India. Meanwhile concerns of corporate governance surrounding plantation giant FGV is weighing down on the stock which fell by 14% from a month-high of RM2.40 in October. Further cost rationalisation measures may not bear fruit yet in its Q3 results as the industry recovers from the effects of El Nino.