Stock Digest - Hartalega Holdings Bhd - Double Whammy From Weaker Sales And Falling ASP

Blended ASP continues to decline, falling -12.6% QoQ. Moving forward, we were guided the stiff competition that resulted in the oversupply condition and inventories from previous stockpiling activities have yet to tapered. Thus, we expect this would continue to depress ASP, and we expect prices to remain soft throughout FY23f.