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Plantation shares rise on bargain hunting as investors weigh oil palm ban by Sri Lanka


KUALA LUMPUR (April 7): Share prices of plantation companies including Kuala Lumpur Kepong Bhd (KLK), Sime Darby Plantation Bhd and IOI Corp Bhd rose in morning trade on Bursa Malaysia today on bargain hunting as investors weighed factors including the impact of Sri Lanka’s move to ban imports of palm oil and cultivation of oil palm.
At about 10am, KLK’s share price was two sen or 0.09% higher at RM22.72, Sime Darby Plantation had added 13 sen or 2.9% to RM4.62, and IOI Corp was two sen or 0.48% higher at RM4.18 as investors also looked ahead to the Malaysian Palm Oil Board’s (MPOB) March 2021 industry data next Monday (April 12) and evaluated the outlook for crude palm oil (CPO) prices.  ....

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Federal Court dismisses appeal by Apex Equity Holdings and JF Apex Securities on legal standing of minority shareholders in merger suit


PUTRAJAYA (Feb 26): The Federal Court today dismissed an appeal by Apex Equity Holdings Bhd and its unit JF Apex Securities Bhd, over the locus standi (legal standing) of its minority shareholders on their opposition to the merger with Mercury Securities Sdn Bhd.
This follows Federal Court judge Datuk Vernon Ong Lam Kiat dismissing their appeal for leave to pose several questions of law to the apex court regarding Section 360 of the Capital Markets and Services Act on the powers of court to make certain orders.
The question surrounds the locus standi (legal standing) of the applicants in filing the originating summons. The law on locus standi is settled. I do not think the leave question has passed the threshold for the court to grant leave. ....

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Hartalega down on profit taking after reporting profit rise


KUALA LUMPUR (Jan 26): Hartalega Holdings Bhd’s share price fell in Bursa Malaysia morning trade today on profit taking after climbing yesterday ahead of the rubber glove manufacturer’s quarterly financial results announcement, which showed a significant rise in net profit and revenue from a year earlier.
At 9.02am today, Hartalega’s share price was 20 sen or 1.54% lower at RM12.80.
At RM12.80, Hartalega had a market capitalisation of about RM43.9 billion.
In a Bursa filing yesterday, Hartalega said net profit rose to RM1 billion for the third quarter ended Dec 31, 2020 (3QFY21), from RM121.27 million a year earlier, while revenue climbed to RM2.13 billion from RM796.55 million. ....

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