KUALA LUMPUR (May 25): Mr DIY Group (M) Bhd will likely be included in the FBM KLCI index, replacing Supermax Corp Bhd, which has the lowest market capitalisation among KLCI component stocks, said analysts today.
In a note, CGS-CIMB’s analysts Ng Lee Fang and Nagulan Ravi said according to their assessment of market data as at end of yesterday, Mr DIY has risen to the 20th position in terms of market cap ranking, satisfying the rules for inclusion into the KLCI index.
“As such, our analysis suggests that it will be included in the upcoming KLCI review, replacing Supermax, the lowest-ranking market cap stock among the current 30 KLCI constituents as at the end of May 24,” they said.
KUALA LUMPUR (May 6): Malaysian crude palm oil (CPO) prices climbed to a level near RM4,700 a tonne in morning trade on Bursa Malaysia today as prices of commodities including crude oil and copper strengthened on economic recovery bets despite lingering Covid-19 pandemic concerns.
On Bursa today, CPO prices for May 2021 had risen RM82 to RM4,680 a tonne at 10.57am, while CPO for June 2021 climbed RM91 to RM4,402.
Meanwhile, CPO prices for July 2021 were RM111 higher at RM4,155 a tonne.
CGS-CIMB Securities Sdn Bhd analysts Ivy Ng Lee Fang and Nagulan Ravi wrote in a note today that “rising prices of competing edible oils are supporting demand and will likely keep CPO prices firm in the near term”.
No respite for palm oil players despite high CPO price theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
The benchmark third-month CPO contract finished RM129 or 3.32% higher at RM4,018 a tonne, according to
Bloomberg.
This is the third time this year that the price had breached the RM4,000 mark. It rose to RM4,017 on Jan 6, and subsequently hit RM4,034 on Feb 25.
The all-time high price for CPO futures is RM4,321, registered in March 2008, based on available data on Bloomberg.
CPO prices which had been on an uptrend, pulled back between Feb 25 and March 2. On March 2, the contract settled at RM3,816, down RM218 or 5.40% from the Feb 25 close of RM4,034.
However, the commodity resumed its rally over the last four trading days.
KUALA LUMPUR (Jan 20): Crude palm oil (CPO) prices are trading below the sharply high levels seen earlier this month and late last year, due to concerns that demand will reduce as Malaysia’s exports of the edible oil dropped.
The CPO contract for April delivery on Bursa Malaysia Derivatives closed RM77 lower at RM3,272 per tonne today. This is RM460 or 12.32% below its one-year high of RM3,733 registered on Jan 6.
Additionally, the contract has declined by RM317 or 8.83% from the RM3,590 registered on Jan 4, the first day of trading in 2021.
Earlier this month, CPO futures breached the RM4,000 mark for the first time since 2008. Based on