The palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange was 0.5 percent higher at the close of trade, settling at 2,629 ringgit ($657) per tonne
MarketWatch: The US stock market could get a shot in the arm this week as consumer-facing companies report earnings in a season in which the sector has so far been the over-achiever. - Reuters
Top foreign stories
Saudi to maintain stable oil policies: New new energy minister of Saudi Arabia, the world’s biggest oil exporter, on Sunday pledged continuity in the kingdom’s oil policy, after being named in a major government overhaul. “We remain committed to maintaining our role in international energy markets and strengthening our position as the world’s most reliable supplier of energy,” Khalid al-Falih said. - AFP
China Inc waves long goodbye to HK bourse: As China's richest man Wang Jianlin prepares to delist his main commercial real estate company from Hong Kong, bankers expect more Chinese businesses to head back home, irked by the deep discount for shares listed on the territory's stock exchange. - Reuters
Top local stories
Oriental ventures into healthcare: Diversified group Oriental Holdings Bhd
, with cash reserves of RM1.1bil, has gone into healthcare business. Oriental managing director of healthcare division Dr Tan Hui Ling told StarBiz that the company is bullish on the outlook for the segment, given the macro dynamics that are favouring the sector at present. - StarBiz
FGV sets precedent with RSPO withdrawal: Felda Global Ventures Holdings Bhd (FGV) has set a precedent with its recent withdrawal from the Roundtable on Sustainable Palm Oil (RSPO) certifications for its 58 palm oil mills nationwide. This is the first time a member of the multi-stakeholder RSPO grouping – the world’s first palm oil certification body – is seeking a voluntary suspension for RSPO certifications. - StarBiz
Choppy outlook seen for stocks: Top fund managers and strategists say that while short -erm volatility remains a serious concern for the stock market, there are still various avenues for the smart investor to realise strong returns. - StarBiz
Moderate growth seen for industrial property: The industrial property sub-sector is anticipated to grow moderately this year, boosted by ongoing Government initiatives to boost investments and stable opportunities within this segment. - StarBiz
Tanjung Offshore to diversify to raise profits: Oil and gas services provider Tanjung Offshore Bhd is looking to venture into upstream oil fields in other South-East Asian countries and Australia in efforts to diversify from relying solely on Petronas and Malaysia. - StarBiz
HSL eyes more contracts: Hock Seng Lee Bhd (HSL), which secured two mega road construction and sewerage contracts worth some RM2.45bil recently, has tendered for an additional RM500mil worth of projects. - StarBiz
Strong steel prices to boost Hiap Teck’s earnings: Hiap Teck Venture Bhd, which has posted a net loss of RM60.03 million for its half nancial year ended Jan 31, 2016, is expecting things to look up for the remaining year, supported by higher steel prices and the strengthening of ringgit. - Edge FD
Media Prima may exit free-to-air space: Media Prima Bhd is not ruling out withdrawing its television channels from the free-to-air space when Malaysia migrates to digital broadcast, as it regards the transmission fee charged by the digital terrestrial television infrastructure operator - controlled by tycoon Tan Sri Syed Mokhtar Al- Bukhara - as commercially unviable. - Edge FD
EPF’s investment assets more than triple over 15 years: the Employees Provident Fund (EPF), the world’s seventh-largest retirement fund, has seen its investment assets more than triple over the past 15 years to RM684.53 billion as at end-2015, from RM184.57 billion in 2001. - Edge FD
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