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Malaysian palm oil price slides on overnight soyoil losses

KUALA LUMPUR: Malaysian palm oil futures charted a third session of loses in four on Thursday evening, tracking weakness in overnight U.S. soyoil prices and on forecasts of slower-than-expected declines in output.

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange was down 0.6 percent at 2,157 ringgit ($521.77) a tonne at the close of trade, after earlier rising to a three-day top of 2,179 ringgit.

Malaysia set to sell more palm oil to China

PETALING JAYA: Malaysia’s palm oil exports to China will likely see an additional 20% increase, or about 400,000 tonnes per year, following the latest palm oil supply memorandum of understanding (MoU) witnessed by Prime Minister Tun Dr Mahathir Mohamad and China’s Premier Li Keqiang in Beijing.

Mahathir and Xi during Mahathir's visit to Beijing yesterday.

Tenaga sends KLCI to lower close

KUALA LUMPUR: Blue chips closed sightly lower on Thursday as Tenaga Nasional, CIMB and IHH Healthcare slipped on profit taking while the undertone of the overall market was cautious amid the mixed key Asian bourses.

Boustead Plantations anticipates bullish CPO price

PETALING JAYA: Boustead Plantations Bhd anticipates crude palm oil (CPO) prices to be bullish by 2020, ranging from a conservative outlook of between RM2,200 and RM2,300 per tonne.

FGV, TH mull up to US$1bil asset sale

Kuala Lumpur: Palm oil giant FGV Holdings Bhd and the pilgrims fund are considering selling plantation assets in Indonesia as the government-linked entities seek to improve their financial position, according to sources.

FGV, Lembaga Tabung Haji mull up to US$1bil Indonesia sale

KUALA LUMPUR (Bloomberg): Palm oil giant FGV Holdings Bhd and the Malaysian pilgrims fund are considering selling plantation assets in Indonesia as the government-linked entities seek to improve their financial position, people with knowledge of the matter said.