Batu Kawan
ONE of the biggest gainers among plantation stocks in the past two weeks is Batu Kawan, along with associate company Kuala Lumpur Kepong, which rose 25sen to RM7.75 over that period. OSK Investment Research said that interest in plantations could have stemmed from a good level of crude palm oil (CPO) prices, which are expected to hover above RM1,400 a tonne. Demand drivers, which could propel CPO prices, included compulsory labelling of trans-fatty acids in the US effective Jan 2006, as well as the removal of import quotas by China on edible oils as a condition of its entry into the World Trade Organisation, effective next year.
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