Company Overview and News
Regional flavour: Sime Darby will retain the trading and logistics businesses which are concentrated on the distribution and selling of motor vehicles as well as heavy equipment. (16-0)
The diversified conglomerate, whose business covers casinos; leisure and entertainment; plantation; power; as well as oil and gas, is seeing improving prospects across most of its divisions, especially gaming, thanks to increasingly positive market conditions. (11-0)
KUALA LUMPUR: The FBM KLCI found itself in the red at midday break as counters including F&N and MAHB weighed. (11-0)
KUALA LUMPUR, Aug 18 — Genting Plantations Bhd’s indirect subsidiary, AsianIndo Holdings Pte Ltd, has entered into a conditional sale and purchase agreement with Lee Rubber Company (Pte) Ltd to acquire its 100 per cent stake in Knowledge One Investment Pte Ltd (KOI) for US$94.97 million (RM407.2 million).
Kenanga Research, in its latest report, said planters with high plantations exposure in Peninsular Malaysia such as Sime Darby Bhd, IOI Corp Bhd, Kuala Lumpur Kepong Bhd (KLK), Felda Global Ventures Holdings Bhd (FGV) and United Malacca Bhd could see higher-than-average production growth trends.
Mall traffic has been facing challenges due to a change in shopping patterns, with online shopping taking precedence over in-store purchase. As a result, demand for retail real estate space has been diminishing of late, as changing shopping patterns are compelling retailers to reconsider their footprint, and eventually opt for store closures or file bankruptcies. This has become a pressing concern for the retail REITs like Simon Property Group Inc.
Lower prices: A file picture showing workers standing near oil palm fruits inside a palm oil factory in Sepang. The CPO price has dropped by over 22 so far this year. – Reuters
MarketWatch: The large-cap technology sector is expected to see a bump in its growth weighting when index provider FTSE Russell completes the annual refresh of its benchmarks next Friday, a move that could lift tech shares targeted in the rejig. The increased significance of tech comes on the heels of an around 20% gain in the sector this year which led to a pullback over the last week. - Reuters (0-1)
PublicInvest Research's suggested picks for the remainder of 2017 are Century Logistics, Serba Dinamik, Genting Plantations, LBS Bina,
Sky Plaza contribution: The SkyWay cable car at Genting resort. The Sky Plaza is expected to contribute from quarter two in FY2017.
Gaming Industry Veteran to Develop and Operate Las Vegas' First Ground-Up Resort in Nearly a Decade Multibillion-Dollar Integrated Resort Slated to Open in 2020 with Full Construction Commencing in Q3 2017
KUALA LUMPUR: Fund buying of Tenaga Nasional helped boost the FBM KLCI early Friday as the broader market showed more optimism, tracking the key Asian markets. At 9.15am, the KLCI was up 4.17 points to 1,772.09. Turnover was 292.38 million shares valued at RM114.12mil. Advancers beat decliners 229 to 133 while 256 counters were unchanged. Reuters reported Asian stocks inched higher on Friday and looked set to close a strong week on a positive note, while the euro slipped after the European Central Bank showed no signs of paring its stimulus programme.
Industry expert M.R. Chandran said the current preference for brownfields among big plantation companies are mostly due to major changes in the global oil palm sustainability requirement scene. “Strict moratorium imposed on new oil palm planting in Indonesia as well as the EU Parliament’s latest call for a single Certified Sustainable Palm Oil scheme for Europe-bound palm and other vegetable oil exports are putting off local planters’ interest to develop new oil palm cultivation on greenfields,” he told StarBiz recently.
2017-10-28 - Wilton
2017-10-25 - Wilton
2017-10-10 - Wilton
2017-10-09 - Wilton
2017-08-25 - Wilton