KUALA LUMPUR (Dec 10): TDM Bhd's share price, which has climbed a little over 44% from a week ago, reached its highest in more than a year at 31.5 sen during afternoon trades today.

The stock was up 3.28% or 1 sen from yesterday after over 54 million shares were traded, making the plantation company's counter the second most actively traded one on the local bourse today. At its current price, TDM has a market capitalisation of RM521.62 million.

Plantation stocks have been gaining ground of late as crude palm oil prices strengthen, amid speculation that production is set to decline.

Earlier today, Malaysian Palm Oil Board (MPOB) announced that Malaysia's palm oil inventories fell to a three-month low in November as a seasonal decline in production curbed yields in the world's second-biggest producer, while exports dropped due to slowing purchases by top importers.

Stockpiles fell 4.1% to 2.26 million tonnes, compared with the previous month, MPOB said.

The last time TDM shares were at current levels was in May 2018.