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World’s largest edible oil importer cuts import duties
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.
THE recently concluded results season showed some sectors reporting profits exceeding or at least meeting with market expectations but on the whole, cautiousness continues to dominate going into the rest of the year, and even beyond.
PETALING JAYA: IOI Corp Bhd is expected to perform better for the financial year ending June 30, 2022 (FY22) than in FY21, with earnings led by its plantation division, say analysts.
PETALING JAYA: IOI Corp Bhd’s net profit for the fourth quarter (Q4) ended June 30 increased by over 50% year-on-year (y-o-y) to RM359.4mil, mainly due to stronger contribution from all business segments.
KUALA LUMPUR: Higher palm oil prices boosted IOI Corp Bhd's earnings in the last quarter ended June 30 (Q4FY21) and the company expects challenging operating environment to support the current price trend.
SINCE the start of the year, the plantation sector, as measured by the Kuala Lumpur Plantation Index (KLPI), has underperformed the FBM KLCI by 8.4%, as the former is down 16.5% year-to-date while the latter is lower by 8.1% for the same period.
IOI Corp Bhd made a RM281mil offer to NPC Resources Bhd to acquire the group’s oil palm plantations in Sabah.
PETALING JAYA: Amid the bullish crude palm oil (CPO) price, some plantation companies are unlocking the value of their assets.