<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 24): Hong Leong Investment Bank (HLIB) Research has maintained its “neutral” rating on the plantation sector and said the current weakness in crude palm oil (CPO) price will likely be temporary (and recover from 2024), supported by favourable palm oil, gas oil (POGO) spread and heightened supply risk from El Nino.</p></div>

<div class=newsTextDataWrapInner><p>In a sector update on Tuesday, the research house tweaked its 2023 CPO price assumption lower (by RM150) to RM3,850 per metric tonne (/mt), but raised 2024 CPO price assumption (by RM200) to RM4,000/mt.</p></div>

<div class="mt-3  imgw-300 embed-right"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="//assets.theedgemarkets.com/pics/2023/plantation-stock-hlib-2410.png"><img alt="" src="https://assets.theedgemarkets.com/pics/2023/plantation-stock-hlib-2410.png" /></a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“We will only adjust earnings forecasts, target prices (TPs) and ratings on individual planters (to reflect our new CPO price and FFB output assumptions) in the upcoming results season (starting from Nov 2023).</p></div>

<div class=newsTextDataWrapInner><p>“For exposure, our top pick remains IOI Corp Bhd (“buy”; TP: RM4.66),” it said.</p></div>


Hong Leong Investment Bank (HLIB) Research has maintained its “neutral” rating on the plantation sector and said the current weakness in crude palm oil (CPO) price will likely be temporary (and recover from 2024), supported by favourable palm oil, gas oil (POGO) spread and heightened supply risk from El Nino.

HLIB raises 2024 CPO price assumption to RM4,000/mt

BMI, a unit of the Fitch group, predicts challenges in establishing two sustainable 5G networks in Malaysia, emphasising that investment commitments will be crucial for the second network's viability.

BMI sees challenges for Malaysia's dual 5G networks

Shares of Lotte Chemical Titan Holding Bhd (KL:LCTITAN) tumbled to their lowest in more than four years on Thursday, as investors reacted to widening quarterly losses while analysts flagged more troubles ahead.

Lotte Chemical shares tumble to over four-year low amid larger losses, bleak outlook

KUALA LUMPUR (Nov 7): Shares of Hup Seng Industries Bhd (KL:HUPSENG) rose on Thursday after the biscuit maker declared a special dividend amid record high quarterly profits.

Hup Seng shares rise after record quarterly profits, special dividend

A federal lawmaker from Sabah has alleged that one of the packages under the Pan Borneo Highway project in the state involved "multiple levels of subcontracting" and wants Putrajaya to terminate the contractor.

Sabah MP alleges 'multiple levels of subcontracting' in Pan Borneo Highway project

Looming large in the hours between Donald Trump’s election victory and the late-night collapse of Germany’s government is a crisis of competitiveness that has sapped life from Europe’s largest economy.

The €650 bil exodus at the heart of Germany's turmoil

Vegetable supplier Farm Price Holdings Bhd (KL:FPHB), which was listed on the ACE Market of Bursa Malaysia on May 14, has proposed to undertake a bonus issue of up to 225 million warrants on the basis of one warrant for every two shares held by shareholders.

Farm Price proposes one-for-two bonus issue of warrants

TMK Chemical Bhd said it has signed a retail underwriting agreement with Maybank Investment Bank Bhd in conjunction with the chemical company's initial public offering (IPO) on the Main Market of Bursa Malaysia.

TMK Chemical inks underwriting deal with Maybank for Main Market IPO

The global wellness industry was worth US$6.32 trillion (RM27.82 trillion) in 2023, according to a new report from the Global Wellness Institute (GWI), a leading industry group. That’s 25% larger than it was in 2019, making it bigger than the sports and pharmaceutical industries.

Global wellness industry is now worth US$6.3 tril, says report

NEWS: M’sia launches InvestMalaysia portal for global investors

SINGAPORE  (Nov 7): An updated version of Singapore’s unified QR code, which will consolidate all payment needs with a single merchant acquirer, has been rolled out by the Network for Electronic Transfers (NETS).

Network for Electronic Transfers launches updated version of Singapore’s unified QR code SGQR+

<p>(Nov 7):&nbsp;Malaysian tycoon Lim Kang Hoo is exploring selling his toll-road business, in a deal that could value the assets at as much as RM5 billion (US$1.1 billion), according to people with knowledge of the matter.</p>


Ekovest’s Lim weighing sale of toll-road assets for RM5b — Bloomberg

<p>Mah Sing Group Bhd (KL:MAHSING) has acquired a 5.24-acre (2.12-hectare) freehold parcel in Old Klang Road here for approximately RM113 million from Team Keris Bhd to develop a new transit-oriented development (TOD) named M Aurora.&nbsp;</p>


Mah Sing acquires 5.24-acre Old Klang Road land for transit-oriented M Aurora

<p>(Nov 7):&nbsp;Malaysian bonds are turning vulnerable to further outflows, as local yields are seen rising along with those on&nbsp;Treasuries,&nbsp;with Donald Trump poised to be the next US president.</p>


Trump’s win threatens ringgit bonds after worst sell-off since 2020 — analysts

<p>PUTRAJAYA (Nov 6): The Malaysian Anti-Corruption Commission (MACC) has frozen several personal and company bank accounts, valued at around RM1.1 million, belonging to the husband-and-wife founders of the FashionValet e-commerce platform.&nbsp;</p>


MACC freezes bank accounts of FashionValet founders

<p>KUALA LUMPUR (Nov 7): Shares of Hup Seng Industries Bhd (KL:HUPSENG) rose on Thursday after the biscuit maker declared a special dividend amid record high quarterly profits.&nbsp;</p>


<p>Shares of Lotte Chemical Titan Holding Bhd (KL:LCTITAN) tumbled to their lowest in more than four years on Thursday, as investors reacted to widening quarterly losses while analysts flagged more troubles ahead.</p>


<p>The federal government on Thursday disputed Semantan Estate (1952) Sdn Bhd’s possession of the 263.72-acre (106.72-hectare) ‘Duta Enclave’ prime land, saying that the company, which is presently under liquidators’ control, is only entitled to monetary compensation based on the Government Proceedings Act 1956 (GPA) and the Specific Relief Act 1950 (SRA).</p>


Lawyers dispute govt's claim that Semantan Estate only entitled to compensation, not return of Duta Enclave land

<p>IOI Properties Group Bhd (KL:IOIPG) has retracted a proposal on redevelopment of the Shenton House to be deliberated at a shareholders meeting on Thursday while it considers its options on the project.</p>


IOI Properties withdraws Shenton House proposal at shareholders meeting while it considers options

<p>The selection of U Mobile Sdn Bhd to implement Malaysia's second 5G network does not contradict the equity requirements under the network facility provider (NFP) and network service provider (NSP) licences, said Communications Minister Fahmi Fadzil.</p>


U Mobile’s selection for second 5G network aligns with equity requirements, says Fahmi

<p>Eco World Development Group Bhd (KL:ECOWLD), via its 81%-owned subsidiary Mutiara Balau Sdn Bhd, is buying 10 parcels of land measuring 847.25 acres in Semenyih, Selangor for RM742.41 million, cash. It plans to use the plots&nbsp;for&nbsp;a new mixed development called Eco Forest 2, which&nbsp;is expected to have an estimated gross development value of RM4.6 billion.</p>


EcoWorld to fork out RM742m cash to buy 10 plots of Semenyih land from Boustead Group for new RM4.6b mixed project

<p>BMI, a unit of the Fitch group, predicts challenges in establishing two sustainable 5G networks in Malaysia, emphasising that investment commitments will be crucial for the second network's viability.</p>


<p>KUALA LUMPUR (Nov 7): Metro Healthcare Bhd (KL:MHCARE) announced that the 24.47 million shares available to the public in its initial public offering (IPO) was oversubscribed by 38.6 times.</p>


Public portion of Metro Healthcare’s IPO oversubscribed by 38 times

<p>PETALING JAYA (Nov 7): A bag containing RM1 million in cash that was reported missing on Wednesday (Nov 6) afternoon in Ampang has been found on Jalan Hulu Kelang, heading towards the Ampang-Kuala Lumpur Elevated Highway.</p>


Lost bag containing RM1m found — police

<p>KUALA LUMPUR (Nov 7): The High Court has set Dec 11 to deliver its decision on the prosecution’s application to bar PetroSaudi International Ltd (PSI) chief executive officer Tarek Obaid and others from accessing the US$340 million allegedly linked to 1Malaysia Development Bhd (1MDB).</p>


December decision on application to bar Tarek Obaid, others from accessing millions linked to 1MDB

<p>An expanded US-China trade war during President-elect Donald Trump’s second term could slash the Asian nation’s economic growth by two percentage points and prompt Beijing to stimulate domestic demand, according to Macquarie Group Ltd.</p>


New Trump trade war seen knocking two points off China's GDP growth

<p>KUALA LUMPUR (Nov 7): KKB Engineering Bhd has secured contracts worth a combined RM93 million from several companies with key projects in the industrial and infrastructure sectors.</p>


KKB Engineering bags jobs totalling RM93m from Petros, other firms

<p>IN the past week, employers have expressed their dissatisfaction over a government proposal to extend the mandatory pension contribution to non-citizen employees, which they say is unnecessary and adds to their already considerable business costs.</p>

<p>They said the proposal — presented duri...

Cover Story: The State of the Nation -  Mandatory EPF contribution for non-citizen employees baffles employers 

<p>The Malaysian government on Thursday launched the InvestMalaysia portal, which aims to be a one-stop gateway for investors to obtain information on Malaysia, to attract global investors and strengthen the country's position as an investment destination.</p>


Malaysia launches InvestMalaysia portal to attract global investors

<p>BEIJING (Nov 7): Prime Minister Datuk Seri Anwar Ibrahim continued his intensive schedule in Beijing, the final stop of his working visit, with a business meeting with China International Capital Corp (CICC).</p>


Anwar continues intensive schedule in Beijing, to begin with business meeting with CICC

<p>The Public Accounts Committee (PAC) will launch an investigation into the combined RM43.9 million investment loss incurred by Khazanah Nasional Bhd and Permodalan Nasional Bhd (PNB) from their venture in FashionValet, an e-commerce platform.</p>
