Palm Oil

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WHETHER people like it or not, it is the foreign flow of money into the stock market that really is the fifth gear for market momentum.

Economy grows 4.5% in first quarter

KUALA LUMPUR: Malaysia’s economy performed above expectations in the first quarter of 2019 (1Q19) and the country’s foreign investments staged a strong improvement, amid elevated external challenges. However, despite these positive developments, more warnings signs on the economy have begun to crop up.

Malaysia's Economic Performance Chart. Source: Department of Statistics Malaysia.

Late selling sends KLCI below 1,600; Leong Hup unchanged

KUALA LUMPUR: Late selling pressure on Public Bank, Maybank and Tenaga Nasional forced the FBM KLCI to close below the key 1,600 level on Thursday while Leong Hup International ended its first trading day unchanged.

Economy expands by 4.5% in Q1 of 2019, above forecast

KUALA LUMPUR: The economy expanded by 4.5% at in the first quarter of March 31, 2019 (Q1 2019), which was slightly above economists' forecast of 4.3%, underpinned by services and manufacturing.

Rising oil prices lift ringgit against USD

KUALA LUMPUR: The ringgit opened slightly higher against the greenback today as global oil prices surged overnight and amid an improvement in commodity price.

Palm oil price at week high on stronger soyoil, weaker ringgit

KUALA LUMPUR: Malaysian palm oil futures climbed to a one-week top in early trade on Wednesday, in line to chart a third consecutive day of gain, as it tracked an increase in U.S. soyoil on the Chicago Board of Trade (CBOT) and a weaker ringgit.

Benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange was up 1.4% at 2,043 ringgit ($489.69) a tonne at the midday break on Wednesday, its strongest levels since May 8.

KL Kepong Q2 net profit 34.6% up

PETALING JAYA: Plantation company Kuala Lumpur Kepong Bhd’s (KLK) net profit in its second quarter ended March 31, 2019 (2Q19) rose 34.6% to RM142.95mil from RM106.15mil a year ago, mainly due to a surplus of RM25.6mil arising from government acquisition of plantation land.

For its plantation sector, net profit dipped 55.8% to RM100.9mil from RM228.4mil previously, dragged by weaker selling prices of crude palm oil and palm kernel.