<div class=newsTextDataWrapInner><p>KUALA LUMPUR (June 26): Malaysian palm oil producer Boustead Plantations Bhd rose 4 percent in its first day of trade after raising 1.05 billion Malaysian ringgit ($325 million) in its initial public offering.</p></div>
<div class=newsTextDataWrapInner><p>The stock was trading at 1.67 ringgit on Thursday morning, compared with its IPO price of 1.60 ringgit per share. The broader market was flat.</p></div>
<div class=newsTextDataWrapInner><p>The company is 55 percent owned by financial-to-defence conglomerate Boustead Holdings Bhd.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>
<div class=newsTextDataWrapInner><p>The IPO proceeds will be used to buy more land to meet its goal of expanding its planted area to 100,000 hectares by 2017 from around 71,000 hectares currently.</p></div>
<div class=newsTextDataWrapInner><p>Affin Investment Bank, Credit Suisse and Maybank Investment Bank acted as the IPO's global coordinators. - Reuters <br /></p></div>

KUALA LUMPUR (June 26): Malaysian palm oil producer Boustead Plantations Bhd rose 4 percent in its first day of trade after raising 1.05 billion Malaysian ringgit ($325 million) in its initial public offering.
The stock was trading at 1.67 ringgit on Thursday morning, compared with its IPO price of 1.60 ringgit per share. The broader market was flat.
The company is 55 percent owned by financial-to-defence conglomerate Boustead Holdings Bhd.
The IPO proceeds will be used to buy more land to meet its goal of expanding its planted area to 100,000 hectares by 2017 from around 71,000 hectares currently.
Affin Investment Bank, Credit Suisse and Maybank Investment Bank acted as the IPO's global coordinators. - Reuters

Malaysia's Boustead Plantations rises 4 pct in market debut

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<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday.</p>


KLCCP, Suria Capital, Capital A, Calsberg, Hibiscus Petroleum, Chin Hin, OCR, Fajarbaru, I-Bhd, Farm Price, United Plantations, AME REIT, Axis REIT, MyEG

<p>Eden Inc Bhd’s major shareholder Tan Sri Abd Rahim Mohamad is proposing to settle a RM45.65 million debt his company owes Eden by transferring the ownership of a 2.4 million sq ft (about 55 acres) leasehold land to the listed entity.</p>


Eden's major shareholder proposes land transfer to settle RM45.65m debt owed to company

<p>A disappointing earnings report from Meta Platforms Inc has technology investors on edge with results from some of the stock market’s biggest and most important companies due in the coming days.</p>


Meta’s miss sparks fear in tech world with big earnings looming

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<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>TikTok's chief executive said on Wednesday that the company expects to win a legal challenge to block legislation signed into law by President Joe Biden that he said would ban the popular short video app used by 170 million Americans.</p>


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<p>The High Court here on Wednesday dismissed a judicial review application by Musang King durian planters around Raub to challenge the Pahang government's decision to issue eviction notices against them.</p>


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<p>CapitaLand Malaysia Trust (CLMT) reported a 63% in its first quarter net property income to RM63.98 million from RM39.24 million a year ago, driven by full quarter revenue contribution from Queensbay Mall, higher occupancies and positive rental reversions.</p>


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<p>RHB Retail Research said Naim Holdings Bhd is likely to resume its uptrend after the recent consolidation above the 97.5 sen breakout level.</p>


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<p>RHB Retail Research said NationGate Holdings Bhd is observing a technical breakout after climbing above the RM1.70 immediate resistance on surging trading volume.</p>


<p>The Nasdaq outpaced Wall Street peers on Wednesday, with Tesla leading gains among megacap stocks after its quarterly results, while upbeat earnings reports across other sectors also offered support.</p>


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<p>US and European shares finished mixed on Wednesday ahead of more corporate earnings this week, and the yen was mired near 34-year lows, keeping traders wary of intervention from Japan.</p>


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<p>Singapore's Keppel said on Thursday its first-quarter net profit excluding the effects of legacy offshore and marine assets was higher, boosted by strong performance in the global asset manager's infrastructure and connectivity segments.</p>


<p>(April 24):&nbsp;A made-in-China electric vehicle will hit U.S. dealers this summer offering power and efficiency similar to the Tesla Model Y, the world's best-selling EV, but for about $8,000 less.</p>

<p>The EX30 from Volvo Cars, the Swedish luxury brand owned by China's Geely, foreshadows ...

<p>Synergy House Bhd may trend higher after breaking out from its one-week bullish rectangular pattern two sessions ago, to a new all-time high.</p>


<p>Mark Zuckerberg is asking for investors to stay patient. Again.</p>

<p>After Meta Platforms Inc revealed that it will spend billions of dollars more than expected this year — fueled by investments in artificial intelligence — the company’s chief executive officer did his best to soothe Wall Street.</p>


<p>Hasbro reported a smaller-than-expected drop in first-quarter sales and handily beat profit estimates on Wednesday, helped by leaner inventories and steady digital gaming revenue, sending its shares up 12%in early trading.</p>
