KUANTAN, Oct 9 — Pahang has become the first state in Malaysia to have an environmentally friendly effluent treatment plant for palm oil factory from Japan. Mentri Besar Datuk Seri Wan Rosdy Wan Ismail said the technology developed by I.H.I…
KUALA LUMPUR, Oct 8 — Refined sugar manufacturer MSM Malaysia Holdings Bhd is disposing of 4,453.92 hectares of agricultural land in Chuping, Perlis, to Fraser & Neave Holdings Bhd for RM156 million. The proposed disposal, effected via…
KUALA LUMPUR: Bursa Malaysia ended lower today as profit-taking persisted on the broader market, tracking the bearish performance on Wall Street, dealers said.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 0.91% or 14.54 points to 1,574.90 from Tuesday’s close of 1,589.44.
The index, which opened 0.59 of-a-point easier at 1,588.50, moved between 1,574.90 and 1,589.06 throughout the day.
The market breadth was bleak as losers led gainers 516 to 264, with 417 counters unchanged, 762 untraded and 19 others suspended.
Turnover expanded to 1.85 billion shares valued at RM1.44 billion from 1.79 billion shares worth RM1.26 billion yesterday.
The FBM Palm Oil Plantation index fell 1.75% or 202.81 points to 11,352.94. The oil palm plantation sector came under pressure on news that Indonesia had identified six Malaysian-linked companies as being responsible for open burning which contributed to the bad haze in the region.
Among the plantation companies, Kuala Lumpur Kepong fell 26 sen to RM22.92, Sime Darby Plantation declined eight sen to RM4.75, Ahmad Zaki Resources Bhd and TDM each dipped half-a-sen to 34 sen and 16.5 sen respectively, and IOI Corp lost 14 sen to RM4.29.
Meanwhile, on the local front, Phillip Capital Management senior vice president (investment) Datuk Dr Nazri Khan Adam Khan said Malaysia’s manufacturing Purchasing Managers’ Index (PMI) improved slightly in September but remained under pressure.
The September manufacturing reading stood at 47.9, a marginal increase from August’s 47.4 level, signalling improvement by the rise in new orders and output indices amid a challenging business environment.
At the current levels, the PMI is broadly indicative of annual gross domestic product (GDP) growth of between 4.5% and 5% this year, according to the IHS Markit Malaysia report.
“However, it remains in a contractionary mode for the 12 straight months and is unable to uphold the domestic market from trending lower,” he told Bernama.
On the technical front, Nazri Khan said the FBM KLCI showed a potential extension to the current correction as the immediate bias was favouring more to the bearish side.
“Overall, we remain cautiously optimistic on the domestic financial market as weak performances in the global economy brought by the trade feud has slowed down the major economies, which weigh on local growth due to Malaysia’s high exposure to external trade,” he added.
Among the heavyweights, Maybank fell six sen to RM8.53, Tenaga declined 10 sen to RM13.60, Public Bank slipped 30 sen to RM19.70, PChem eased five sen to RM7.46 and IHH slid four sen to RM5.64.
As for the actives, VSolar was flat at 7.5 sen, Armada eased one sen to 31 sen and MNC gave up two sen to 27 sen.
The FBM Emas Index shed 86.09 points to 11,149.93, the FBMT 100 Index sank 86.26 points to 10,981.04 and the FBM Emas Shariah Index was 82.52 points weaker at 11,719.38.
The FBM 70 dropped 46.85 points to 13,886.14 and the FBM ACE erased 15.78 points to 4,516.04.
Sector-wise, the Financial Services Index weakened 143.15 points to 15,223.31, the Plantation Index was down 101.41 points to 6,669.33 and the Industrial Products & Services Index was 0.63 point easier at 152.57.
Main Market volume decreased to 1.04 billion units worth RM1.30 billion from Tuesday’s 1.15 billion units valued at RM1.18 billion.
Warrants turnover, however, widened to 256.05 million valued at RM46.43 million from 101.19 million valued at RM9.8 million yesterday.
Volume on the ACE Market rose to 552.70 million shares worth RM85.38 million from 536.82 million shares worth RM78.19 million on Tuesday.
Consumer products and services accounted for 136.46 million shares traded on the Main Market, industrial products and services (159.71 million), construction (80.09 million), technology (102.61 million), SPAC (nil), financial services (27.83 million), property (73.23 million), plantations (15.00 million), REITs (27.25 million), closed/fund (248,000), energy (242.43 million), healthcare (27.48 million), telecommunications and media (101.99 million), transportation and logistics (31.87 million), and utilities (16.35 million).
The physical price of gold as at 5pm stood at RM193.23 per gramme, up RM2.42 from RM190.81 at 5pm yesterday. — Bernama
KUALA LUMPUR, Oct 2 ― Bursa Malaysia stayed negative on persistent selling activities in the broader market led by the FBM Palm Oil Plantation index recording a 1.66 per cent loss, said an analyst. At 3.06pm, the benchmark FTSE Bursa Malaysia KLCI…
SINGAPORE, Sept 29 — A brutal Indonesian forest fire season that left South-east Asia choking in smog has renewed scrutiny of major palm oil and paper companies, with activists accusing them of breaking promises to halt logging. The monster blazes…
KUALA LUMPUR: Genting Grouptoday said the conglomerate is committed to the implementation of the Zero Burning Policy in the development of its oil palm plantation.
The group said its subsidiary, Genting Plantations Bhd, has been a member of the Roundtable on Sustainable Palm Oil (RSPO) since 2006 and implements sustainable criteria in all of its operations, which includes the implementation of the policy.
Genting said this in a statement in response to Greenpeace’s article on Indonesia’s forest fire crisis, in which it listed the plantation arm of the conglomerate among the top 10 groups with the largest areas of burned land in Indonesia between 2015 and 2018.
“We are unable to comment on the accuracy of Greenpeace’s data, but based on the Indonesian Ministry of Environment and Forestry’s map, the burnt areas are predominantly outside the concession of our Indonesian subsidiary, PT Globalindo Agung Lestari.
“Additionally, Greenpeace’s map may have also included areas with hotspots which are not owned by PT Globalindo Agung Lestari,” Genting Group said.
The group however noted that according to its 2016-2018 internal data, 6.8 hectares of PT Globalindo Agung Lestari’s land experienced burning during that period.
“This aside, we also noted that some 203 hectares of community-owned land encountered burning. These lands were cultivated with other crops and not with oil palm,” it said.
It said Genting Plantations has established a satellite and drone hotspot monitoring system to assist the surveillance by the internal fire patrol teams.
If a fire breaks out, its fire patrol teams will immediately report it to the local police and Disbun Perkebunan, the local plantation agency, along with pictorial evidence and details of action taken within 24 hours.
“The fire team will also work with the authorities and local communities to extinguish the fire in the shortest possible time.
“Additionally, we will also report it to the RSPO through the Internal Fire Hotspot Monitoring form,” it added. – Bernama
PUCHONG, Sept 24 — Malaysia should seize opportunities in bio-based business models, namely bio-energy, bio-agricultural, echo-products and bio-chemicals, that are capable of creating a new wave of bio-economy for economic growth. Primary…
JOHOR BARU, Sept 21 — About 51 per cent of the country’s 5.85 million hectares of oil palm land in the country have obtained the Malaysian Sustainable Palm Oil (MSPO) certification until August 31 this year. Primary Industries Minister Teresa…
SUNGAI BESAR, Sept 20 — Oil palm smallholders’ revenue is expected to increase when they obtain their Malaysian Sustainable Palm Oil (MSPO) certification, said Primary Industries Deputy Minister Datuk Seri Shamsul…
KUALA LUMPUR, Sept 19 — MIDF Research set a “negative” call on the plantation sector after considering its challenges, including the European Union (EU)’s decision to phase out palm oil. The sector also faces difficulties to achieve 100 per…