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JP Morgan yesterday made a sharp reversal in its recommendation on the Malaysian plantation sector, raising its rating to overweight from underweight previously.
PPB Group Bhd has posted a marginally higher pre-tax profit of RM332.4mil for the first half ended June 30, against RM329.5mil in the same period a year ago, despite a 27% rise in turnover to RM5.39bil.
PPB Oil Palms Bhd is eyeing the acquisition of an additional 30,000ha in Indonesia, especially in Central Kalimantan, this year as part of an ongoing expansion of its oil palm plantation, said executive chairman Tan Yew Jin.