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Lower CPO prices to weigh on PPB earnings

PETALING JAYA: The earnings of PPB Group Bhd, a diversified company controlled by billionaire Robert Kuok, are expected to be weighed down by lower crude palm oil (CPO) prices over the next two years.

Kenanga Research yesterday cut its core net profit forecasts for PPB by 3.1% and 1.6% for the financial years ending Dec 31, 2019 and 2020 respectively to RM1.17bil and RM1.21bil.

Sarawak’s hydrogen plant ready to go

KUCHING: Sarawak is inching closer to exporting hydrogen with the test-commissioning of its hydrogen production plant and refuelling station here.

The plant project has been completed, with testing and commissioning in progress until later this month, according to Sarawak Chief Minister Datuk Patinggi Abang Johari Openg.

China hikes tariffs on US goods after Trump warning

BEIJING: China said on Monday it would impose higher tariffs on most U.S. imports on a revised $60 billion target list, hitting back at a tariff hike by Washington on $200 billion of Chinese goods in a further escalation of a bitter trade war.

China's revised target list on Monday still left out products such as crude oil and large aircraft.

KLCI approaches 1,600 as downtrend continues

KUALA LUMPUR: The FBM KLCI slid closer to the psychologically important 1,600 level in Monday morning trade as the setback in US-China trade negotiations continued to weigh on investor sentiment.