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MALAYSIA DAYBOOK: Exports Surprise Rise, Palm at 35-Month High

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mission


Manager - Equity Analytics
Manager - Equity Analytics

Malaysia’s exports unexpectedly rose in December as manufacturers shipped more palm oil and petroleum products to customers in Southeast Asia and Japan. Overseas shipments climbed 4.6 percent from a year earlier.

Palm oil prices rose to the highest level in 35 months on Feb. 2 amid concern that La Nina weather conditions may persist for another four months. The phenomenon has caused flooding in Asia and drought in South America, damaging crops and supply.

MARKETS: * Malaysia’s FTSE Bursa Malaysia KLCI Index rose 0.8 percent on Feb 2. The market was closed on Feb. 3-4 for public holidays. * The MSCI Asia Pacific Index rose 0.3 percent. * The Dow Jones Industrial Average rose 0.25 percent. * Palm oil April-delivery futures advanced 2.3 percent to 3,895 ringgit ($1,285) a metric ton on Feb. 2 ahead of last week’s trading holidays.

EQUITY PREVIEW: * Telekom Malaysia Bhd. (T MK) and Axiata Group Bhd. (AXIATA MK), two state-controlled phone companies, said independent panels had concluded internal investigations after Alcatel- Lucent SA admitted to making improper payments to officials in countries including Malaysia. Reports will be presented to their boards and the Malaysian Anti-Corruption Commission by the end of this month, they said in separate exchange filings. Telekom said investigations and a forensic audit will be continued by KPMG Corporate Services Sdn. to help identify the names of employees concerned. * DFZ Capital Bhd. (DFZ MK): The duty-free retailer said in a statement that Esmart Holdings Ltd. extended the deadline for its unconditional takeover offer to March 1. * Ho Wah Genting Bhd. (HWG MK): The Malaysian maker of wires and cables said it aims to soon commence tin-ore mining in Pengkalan Hulu. This should start contributing to revenue this fiscal year, it said in a statement. * Rimbunan Sawit Bhd.(RSAW MK): The palm oil producer will increase its stakes in three Sarawak plantation companies for a total 16 million ringgit, according to an exchange filing.

http://www.bloomberg.com/news/2011-02-06/malaysia-daybook-exports-surprise-rise-palm-at-35-month-high.html

Rajitha

Rajitha
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Isn't this quite old ? I bought my 1st batch of plantation stocks, AGAL,ELPL,ANMU after reading abut these palm oil articles and there increasing price. Thats like 2 months ago. Anyway atm in Sri lanka Government is trying to encourage the palm oil production and is even giving new types of seeds imported for the cultivators. Sri lanka still import a lot of palm oil and can not still even make the local demand.

mission


Manager - Equity Analytics
Manager - Equity Analytics

this is the author and the published date.
By Barry Porter - Feb 7, 2011 3:05 AM GMT+0530

palm oil has reached the highest on Feb 2nd 2011

Rajitha

Rajitha
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

mission wrote:this is the author and the published date.
By Barry Porter - Feb 7, 2011 3:05 AM GMT+0530

palm oil has reached the highest on Feb 2nd 2011

Humm there were similar articles going around end of December.Then I guess it has gone up a lot recently also. The future of the sri Lankan plantation is with palm oil if you are looking at greater profits.

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