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FGV’s leased palm oil mills and estates to be integrated with Felda’s other estates
KUALA LUMPUR: Shares in FGV Holdings Bhd jumped over 17% in early trade Tuesday after the Federal Land Development Authority (Felda) failed in its bid to take FGV private at RM1.30 per share.
KUALA LUMPUR: MIDF Research has revised higher its target price for Axis Real Estate Investment Trust (REIT) on the back of better growth prospect for its industrial asset portfolio.
KUALA LUMPUR: Foreign funds remained net buyers of Malaysian equities for the second straight week, but inflows slowed to RM240.71mil against RM285.83mil in the preceding week, according to MIDF Research. The research house said last Monday foreign investors sold RM62.93mil net of local equities, with retailers and local institutions both as net buyers to the tune of RM48.95mil and RM13.98mil respectively. It said foreign investors were net buyers every day except Monday and Friday during last week. “On a year-to-date basis, foreign net selling this year came in lower when compared against the same period last year. “Net selling by foreigners was RM1.17bil for 2021 thus far, as compared to RM5.21bil over the same period in 2020,” MIDF said in its weekly fund flow report. As for the retailers, MIDF said they were net buyers every day last week except for Tuesday. The largest net buying was recorded on Friday at RM74.73mil and smallest net purchase was on Wednesday at RM4.80mil. Meanwhile, local institutions were net sellers every day of the week, except on Monday and Friday. The mixed ending was recorded after a five weeks pattern of net selling this year. “Cumulative weekly outflow was to the tune of RM424.04mil. The biggest net selling was on Wednesday at RM191.37mil while the smallest net selling was on Tuesday at RM110.93mil,” MIDF said. In terms of participation, the retail investors and local institutions recorded a weekly increase of 3.26% and 6.92% respectively in average daily trade value (ADTV). Foreign investors decreased by 22.37% in ADTV.
PETALING JAYA: The increase in private consumption, on top of it benefiting from the low base last year, will be more evident from the second quarter of the year.
THE continued rise in Brent Crude Oil prices is likely to restore and increase the fortunes of some companies operating in the oil and gas (O&G) space.