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KUALA LUMPUR: Jaya Tiasa Holdings Bhd’s surprise move to acquire a 9.9% stake in sister company Rimbunan Sawit Bhd drew mixed reaction from the market. Analysts said the transaction barely excites the market as the outlook for the price of crude palm oil (CPO) is still subdued.
Rimbunan Sawit Bhd is looking to further expand its land bank over the next two to three years, chief operating officer Khoo Lian Hong said yesterday.
KUALA LUMPUR: Hong Leong Investment Bank (HLIB) Research opined that a rebound is in the pipeline, concerning the share price of Rimbunan Sawit Bhd.
PETALING JAYA: Sarawak-based plantation firm Rimbunan Sawit Bhd is acquiring equity interests in nine plantation companies and the commercial rights to a plantation estate from several vendors for RM286.1mil to be satisfied via the issuance of shares and new irredeemable convertible preference shares (ICPS).
KUALA LUMPUR: WTK Holdings Bhd is buying a plantation land in Miri, Sarawak from Rimbunan Sawit Bhd for RM85mil cash, expanding its oil palm planted area by 39% from 8,662 hectares to 12,052 hectares.
KUALA LUMPUR: Stocks to watch on Thursday include Rimbunan Sawit Bhd, WTK Holdings Bhd, Leader Steel Holdings Bhd, LBS Bina Group Bhd, TSR Capital Bhd and CapitaLand Malaysia Mall Trust (CMMT), according to JF Apex Research.