Palm Oil

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IOI Q3 earnings lower on absence of disposal gains

PETALING JAYA: Plantation group IOI Corp Bhd’s third-quarter net profit to end-March plunged 88.1% to RM245.8mil from RM2.1bil a year ago, on the absence of disposal gains during the period.

In a filing with Bursa Malaysia, the group said profit from the plantation segment of RM132.6mil was 44% lower, mainly due to lower crude palm oil (CPO) and palm kernel prices realised.

IOI Corp profit from continuing ops down 32% to RM240m

KUALA LUMPUR: IOI Corporation Bhd reported a 32% decline in profit from continuing operations to RM240mil from RM354mil a year ago due to weaker plantation profit caused by weaker crude palm oil (CPO) and palm kernel (PK) prices.

s for the plantation segment, the profit fell by 44% to RM132.6mi from RM238.3mil a year ago due to lower crude palm oil (CPO) and palm kernel (PK) prices realised.

Selling of IHH pushes KLCI into the red

KUALA LUMPUR: Foreign selling of key stocks including IHH Healthcare and Genting in afternoon trade on Tuesday pushed the FBM KLCI into the red though Tenaga and RHB Bank help provided some support.

Short position

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.