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KUALA LUMPUR: JF Apex Research expects P.A Resources Bhd, Boustead Plantations , Econpile Holdings Bhd and Gadang Holdings Bhd to be among the stocks to watch on Thursday. (4-0)
It will continue to own and operate its plantation business on the remaining 1,389 acres of the Malakoff Estate.
KUALA LUMPUR: Boustead Plantations Bhd is selling part of its oil palm estate in Penang for RM136mil cash, reaping a huge profit that the company said it will use to repay loans taken for acquisition of new plantation land. (4-0)
Power funding: TN B has the most amount of debt at RM21.6bil given the expensive nature and demands for funding power stations. — Reuters (22-0)
KUALA lUMPUR: IJM Corp Bhd , Gabungan AQRS Bhd , Hock Seng Lee and Sime Darby are among the stocks to watch on Wednesday, according to JF Apex Research. (7-0)
Boustead Plantations vice chairman Tan Sri Lodin Wok Kamaruddin said the nine-month financial results were due to gains realised from disposal of land while earnings were supported by better selling prices for palm products.
Yap: Just wait until the next extraordinary general meeting to get more details on the potential new businesses.
MarketWatch: A jump in shares of consumer companies Mondelez and Kellogg after their quarterly reports on Tuesday, along with further gains for tech stocks, helped Wall Street end October on a positive note. The DJIA rose 28.5 points, or 0.12%, to 23,377.24, the S&P 500 gained 2.43 points, or 0.09%, to 2,575.26 and the Nasdaq Composite added 28.71 points, or 0.43%, to 6,727.67. - Reuters (268-0)
Analysts said this adding that in the near term, Boustead Plantations would need to monetise more of its estates in Peninsular Malaysia to supplement its income and sustain its dividend payouts.
MarketWatch: Wall Street pulled back from record-high territory on Monday, weighed down by a drop in Merck shares and a report that US lawmakers are discussing a gradual phase-in of much-anticipated corporate tax cuts. The DJIA fell 85.45 points, or 0.36%, to 23,348.74, the S&P 500 lost 8.24 points, or 0.32%, to 2,572.83 and the Nasdaq dropped 2.30 points, or 0.03%, to 6,698.96. - Reuters (79-0)
The Boustead Plantations group operates 13 estates and four palm oil mills in Sabah, with a total plantation land of 29,482ha. Their yield, at 16.6 tonnes per ha last year, is more than double that of the estates being acquired from DutaLand.
WHILE Tenaga Nasional Bhd’s (TNB) results for the nine months of financial year 2017 (9MFY17) were below expectations, it is unlikely to raise a major concern as its cause is non-recurring due to the reversal of interest income on the power purchase agreement (PPA) savings, according to Maybank Investment Bank (IB) Research.
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.
KUALA LUMPUR (April 10): Shares of several plantation counters fell in early trades today, weighed down by lower crude palm oil (CPO) price and possible higher production.