Here is a brief recap of some corporate announcements that made the news on Tuesday (Dec 27), including Berjaya Corp Bhd, Ranhill Utilities Bhd, Comintel Corp Bhd, Techbond Group Bhd, Toyo Ventures Holdings Bhd, United Malacca Bhd, G Capital Bhd, KNM Group Bhd and Infomina Bhd.
KUALA LUMPUR: PPB Group Bhd (PPB), the owner of Golden Screen Cinemas Sdn Bhd (GSC) is optimistic that the lifting of movement control orders and a strong line-up of movie blockbusters will boost cinema admissions.
PPB Group Bhd (PPB), the owner of Golden Screen Cinemas Sdn Bhd (GSC) is optimistic that lifting of movement controls, relaxation of social restrictions and a strong line-up of movie blockbusters would boost cinema admissions
KUALA LUMPUR: PPB Group Bhd (PPB), the owner of Golden Screen Cinemas Sdn Bhd (GSC) is optimistic that lifting of movement controls, relaxation of social restrictions and a strong line-up of movie blockbusters would boost cinema admissions.
INVESTORS with a keen eye would have noticed a divergence between the share price trends of diversified conglomerate PPB Group Bhd and its Singapore-listed associate Wilmar International Ltd. PPB has an 18.5% stake in Wilmar.
PPB’s share price has remained largely unchanged in the last six months, closing at RM18.72 last Friday from RM18.60 on Sept 4, 2020. Wilmar, on the other hand, has seen its share price rise 21% over the same period to S$5.30 at last Friday’s close from S$4.37.
Traditionally, there had been a high correlation between the share prices of these two companies at 0.7 times over the last five years, according to UOB Kay Hian Research. This correlation increased to 0.91 times in 2020, following the listing of Wilmar’s subsidiary Yihai Kerry Arawana Holdings Co Ltd on the Shenzhen ChiNext Board last October, it adds in its January report.