Quick take: Teck Guan hits limit-up, surges 33%


KUALA LUMPUR: Shares of Teck Guan Perdana Bhd hit limit-up, surging the maximum 30 sen a share to RM1.20 on Wednesday. 

The counter, the second top gainer on Bursa Malaysia, surged 33.33%, or 30 sen, the most in almost nine years to RM1.20. Year-to-date, the counter has gained more than 71%. However, it declined 29% in the past 52 weeks. 

Early this week, China signed four purchase intent documents for the export of 1.62 million tonnes of palm oil from Malaysia. Two of the agreements were inked with Teck Guan.

Teck Guan’s subsidiary Cacao Paramount Sdn Bhd inked one of the palm oil purchase deals with China’s Yizheng Fangshun Industry Ltd Co, under which the latter would buy 120,000 tonnes of refined, bleached and deodorised (RBD) palm stearin.

Yizheng Fangshun also signed a similar document with Sarawak Oil Palms Bhd’ subsidiary SOP Edible Oils Sdn Bhd for the purchase of 100,000 tonnes of RBD palm olein.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Teck Guan

   

Did you find this article insightful?

Yes
No

Next In Business News

My EG posts net profit of RM70.74m in 3Q
Leong Hup International's 3Q results up on-quarter
Inari sees strong demand for 5G RF components as Q1 net profit soars
PBA 3Q net profit jumps nearly 83% to RM11.3m
Majuperak returns to profit after three consecutive loss-making quarters
UEM Sunrise posts RM28.9mil loss in Q3�
Over 1,000 stocks in red on Budget, Top Glove woes
Hong Kong stocks track broader Asia higher on White House transition, vaccine hopes
CPOPC: AP report out to harm image of palm oil industry
Budget 2021 shows govt's determination to aid vulnerable groups, Zafrul says

Stories You'll Enjoy