Malaysia Builder Rally Hots Up as Pump-Priming Signs Appear Bloomberg 1 hr ago Chan Tien Hin
(Bloomberg) A rally in Malaysian builders is gathering pace in the wake of more contract wins and a revival in mega infrastructure projects in the country.
Kerjaya Prospek Group Bhd., one of Malaysia’s biggest contractors, said Friday it won its first job of 2021, sending its shares to a 20-month high this week. TCS Group Holdings Bhd. said that same day it secured its maiden infrastructure job linked to an expressway project. A gauge of 51 builders is up 16% from a Feb. 3 low, trouncing the FTSE Bursa Malaysia KLCI Index.
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Palm Set for Best Year Since 2011 With La Nina in Spotlight
Bloomberg 1/15/2021 Anuradha Raghu and Eko Listiyorini
(Bloomberg) Palm oil prices are set to have their best annual showing in a decade even as the coronavirus pandemic rages on.
Benchmark futures for the tropical oil, used in everything from cooking oil to shampoo, will average 3,200 ringgit ($791) a ton in 2021, the highest in a decade, according to the median of 23 estimates in a Bloomberg survey of analysts, traders and plantation executives, versus 2,700 ringgit last year.
A bullish cocktail of La Nina-linked flooding and shrinking inventories in Malaysia is bolstering the market, but prices may come under pressure in the second half as production of palm, as well as soybean oil, rebounds. Food and fuel demand is shrouded in uncertainty as the virus persists in key markets.