KUALA LUMPUR, Oct 4 Malakoff Corporation Bhd is expected to invest around RM2.5 billion to develop 500 MW of solar projects within the Albukhary Group of Companies over five.
KUALA LUMPUR: Malakoff Corporation Bhd is expected to invest around RM2.5 billion to develop 500 MW of solar projects within the Albukhary Group of Companies over five years.
Glenealy Plantations (M) Bhd is one of the many plantation companies listed on Bursa Malaysia that is not covered by the investment research community. But it hasn’t been missed by investors hoping to cash in on the rise in crude palm oil (CPO) prices since late June. Glenealy, which has oil palm estates in Sabah and Sarawak, saw its share price touch an intra-day high of RM5.95 on Oct 15. Trading of the illiquid stock also spiked on Oct 13. This was very much in line with the trading patterns of many of its peers, such as TSH Resources Bhd, Sarawak Oil Palms Bhd, IJM Plantations Bhd and Tradewinds Plantation Bhd, which saw their share prices hit 52-week highs on Oct 26. The CPO third-month contract nearly hit a two-year high of RM3,086 per tonne on Oct 28. Based on Glenealy’s earnings per share of 26.08 sen for FY2010 ended June 30, it is trading at a historical PER of 19.9 times, lower than that of close competitor IJM Plantations, which is trading at a historical PER of 25 times
KUALA LUMPUR (March 8): FGV Holdings Bhd said it will not be pursuing a proposal by Perspective Lane (M) Sdn Bhd, a company controlled by tycoon Tan Sri Syed Mokhtar Albulkhari, to inject its plantation assets in exchanges for shares.
The group said its directors have decided not to pursue the proposal any further, in view of the takeover offer by the Federal Land Development Authority (Felda) to acquire the remaining stake in FGV.
Last October, FGV had received an expression of interest from Perspective Lane “to participate in FGV via an injection of plantation assets into FGV, for share consideration (after which) Perspective Lane would potentially become the single largest shareholder of FGV”.