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PETALING JAYA: The sale of IJM Corp Bhd’s entire 56.2% stake in subsidiary IJM Plantations Bhd (IJMP) to Kuala Lumpur Kepong Bhd (KLK) may lead to lower volatility in IJM’s earnings due to fluctuating crude palm oil (CPO) prices and foreign exchange gains or losses from IJMP’s foreign-denominated debts.
World’s largest edible oil importer cuts import duties
Top Glove, Tenaga Nasional, property sector, KLK, IJM Plantations
FOLLOWING the completion of the acquisition of IJM Plantations Bhd by Kuala Lumpur Kepong Bhd (KLK), the spotlight has been on that sector and whether more players will follow suit with similar deals.
GLOVE maker Hartalega Holdings Bhd’s CEO Kuan Mun Leong said the company was currently running at 70% capacity, despite strong demand, as it is only allowed to operate with 60% of its workforce.
KUALA LUMPUR: Kuala Lumpur Kepong Bhd (KLK) has completed its acquisition of a 56.2% stake in IJM Plantations Bhd (IJMP), thus making it a subsidiary of the KLK group.
KUALA LUMPUR (Bernama) -- Kuala Lumpur Kepong Bhd (KLK) had completed the acquisition of 56.2% stake in IJM Plantations Bhd for a total cash consideration of RM1.53 billion.
KUALA LUMPUR: The mergers and acquisitions (M&A) in the plantations sector are expected to continue, underpinned by the high crude palm oil prices and undervaluation of small and mid (SMID) caps.
KUALA LUMPUR: Shares in IJM Corp Bhd climbed in early trade Friday after obtaining its shareholders’ approval to dispose of the entire 56.2% stake in IJM Plantations Bhd (IJMP) to Kuala Lumpur Kepong Bhd (KLK) for a cash consideration of RM1.53bil.