PETALING JAYA: Although SLP Resources Bhd
started the financial year 2024 (FY24) on a strong note, there are lingering risks that could impact its sales and recovery prospects.
Hong Leong Investment Bank (HLIB) research said one noteworthy risk that could slow down the company’s Japanese sales is the persistently strong US dollar against the Japanese yen, as to date the US dollar-yen exchange rate stands at 149.8 versus FY23’s 140.5.
“The increasing likelihood of a further and fewer anticipated rate cut from the US Federal Reserve (Fed), driven by sticky inflation in the economy, may lead to a prolonged period of a strong US dollar, thereby weighing on the group’s sales recovery prospects.
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