KUALA LUMPUR: Kenanga Research is bullish on Kuala Lumpur Kepong Bhd's (KLK) RM1.58bil cash offer to acquire IJM Corp Bhd's stake in IJM Plantation Bhd, which it believes to be a fair price.
KUALA LUMPUR, June 9 IJM Corporation Bhd’s (IJM Corp) potential disposal of its plantation division to Kuala Lumpur Kepong Bhd (KLK) is timely amid the higher crude palm oil (CPO) valuation, and the proceeds could strengthen its balance sheet and build up its coffers for upcoming mega infra.
KUALA LUMPUR: MRT Corp s new details regarding the Mass Rapid Transit 3 (MRT3) project could offer some upside surprises to the construction sector, said Kenanga Research.
The research house said it is net positive over the new details as behind-the-scenes progress is picking up fast. Despite the stretched out construction period of 10 years; should our guesstimate contract quantum of RM32.9b be proven accurate – it would be an upside surprise. Reiterate Overweight on the sector, it said in its construction sector update.
It noted that apart from Gamuda being the obvious beneficiary there will be lesser beneficiaries, such as Kimlun, IJM and MRCB.
Thuthiya stitching face masks at her home in Gangadhara Nellore mandal in Chittoor district.
Once a bonder labourer, she now leads an association of survivors that reaches out to people in need
Thuthiya and her husband Kuppaiah Raghu knew they would regret their decision. But the couple had no option. Raghu’s mother was sick, and he needed money to pay the hospital bills. So the couple borrowed ₹30,000 from the owner of a brick kiln in Chittoor district and walked into a “debt bondage” at the kiln. This was in 2006.
Hard times
Life as bonded labourers was difficult.
“A day of rest or sickness meant abuses from the owner. We were sleep-deprived and stressed out, and it began to show on our health. After slogging from dawn to dusk, we were paid ₹50 per day and, at times, even this meagre sum was denied. Money was paid irregularly and the debt never reduced,” she recounts the trauma.