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FGV mills acquisition on willing buyer, willing seller basis
KUALA LUMPUR: Banks gave the FBM KLCI a boost and enabled it to close at its highest since July 29 while the ringgit strengthened to a more than nine-month high against the US dollar on positive news flow.
KUALA LUMPUR: FGV Holdings Bhd posted a profit before zakat and tax (PBZT) of RM173mil for the third quarter ended Sept 30, 2020, as compared to a loss before zakat and tax (LBZT) of RM363mil in the previous corresponding quarter.
PETALING JAYA: IOI Corp Bhd has posted a 87% year-on-year (y-o-y) increase in net profit to RM277.9mil for the first quarter ended Sept 30.
KUALA LUMPUR: Higher palm oil prices boosted IOI Corp Bhd earnings in the three-month ended Sept 30, a trend the planter projected will continue in the next two quarters.
KUALA LUMPUR: IOI Corporation may not fully benefit from the recent spike in crude palm oil (CPO) price in 1QFY21E due to the usual one-month forward sales typical of integrated players, Maybank Investment Bank Research says.
PETALING JAYA: The current tight palm oil supply situation is expected to keep the price of crude palm oil (CPO) above RM3,000 per tonne in the near term, say analysts.
KUALA LUMPUR: The government is expected to collect a potential revenue of RM348 million from the palm oil Windfall Profit Levy in 2020 compared to only RM256,000 in 2019 following rising crude palm oil (CPO) prices, the Ministry of Plantation Industries and Commodities said.
KUALA LUMPUR: Investors entered profit-taking mode one day after news of Pfizer's Covid-19 vaccine being rolled out sent Malaysian equities soaring over 3%.