$Bumitama Agri(P8Z.SI)$ initia

$Bumitama Agri(P8Z.SI)$ initiating VA at 1.65. Bumitama Agri is widely regarded as one of the most efficient palm oil operators in the region. It has relentlessly deleveraged and has recently announced an enhanced dividend policy, due to a cleaner balance sheet and more robust cash generation.

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