Golden Agri-Resources (E5H.SG) looks unlikely to get much of a boost after reporting 4Q09 results over midday break. Its shares are down 2.7% at 53.5 cents at midday with order book quotes indicating bids clustered at 53 cents.
The palm oil company reports 54% on-year drop in 4Q09 in net profit to US$472.7 million ($666 million) due to lower fair value gains on its plantation assets than in comparable period, but core 4Q09 net profit rose 64% on-year to US$65 million driven by growth in output of palm products.
