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CRUDE Palm Oil (CPO) is at a 10-year high. But surprisingly, not all plantation stocks are following the trend.
Strong CPO prices might be a factor in prospective agreements
KUALA LUMPUR: Top Glove, Samaiden, Sime Plantation and Serba Dinamik are among the counters which could see trading interest on Tuesday following their corporate news, according to TA Securities Research.
PETALING JAYA: Boustead Plantations Bhd has returned to black, with a net profit of RM17.97mil for the third quarter (Q3) ended Sept 30, compared with a net loss of RM34.31mil in the corresponding quarter last year.
KUALA LUMPUR: Boustead Plantations posted a net profit of RM17.97mil in the third quarter ended Sept 30,2020, a turnaround from a net loss of RM34.31mil a year ago, underpinned by the rebound in crude palm oil prices.
Changes expected to take place in coming weeks
KUALA LUMPUR: Boustead Plantations is a prime privatisation target by its immediate holding company, Boustead Holdings Bhd, which will result in an “acquisition gain” for the latter.