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Friday, 10 February 2017

Felda Global Ventures Holdings Bhd (FGV) supports the proposal to harmonise Malaysia’s crude palm oil (CPO) export duty structure.

Image result for Felda Global Ventures Holdings Bhd (FGV) building

Datuk Seri Mah Siew Keong’s initiative Says Yes, we support Plantation Industries and Commodities.

Multi Management and Future Solutions Malaysia: Felda Global Ventures Holdings Bhd (FGV) bolsters the proposition to fit Malaysia's unrefined palm oil (CPO) trade obligation structure with that of Indonesia. 

"Yes, we bolster Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong's drive," said FGV president and CEO Datuk Zakaria Arshad. 

"This move will enhance the intensity of Malaysia's palm oil sends out," he revealed to NST Business yesterday. 

Mah, who is driving an exchange designation to India, has supposedly said he planned to adjust Malaysia's CPO send out obligation structure with that of Indonesia at the following Council of Palm Oil Producing Countries meeting in Jakarta. 

Because of the confound of obligation structures amongst Malaysia and Indonesia, refiners in Malaysia are not getting aggressively estimated CPO. 

This weakness has brought about Malaysia losing many billion of ringgit worth of worldwide palm oil piece of the overall industry consistently. 

Back in July 2015, Indonesia actualized palm oil demands running from US$10 to US$50 (RM44 to RM222) per ton. From that point forward, the playing field has been uneven. 

The bungle in the CPO send out obligation structures has prompted to a markdown crevice of US$15 to US$30 per ton in the exchange of different palm oil items amongst Indonesia and Malaysia. 

By shutting the crevice between Malaysia's CPO trade obligation structure with Indonesia's, makers here will have measure up to access to intensely valued feedstock and, ideally, have the capacity to recover loss of piece of the overall industry. 

On Koperasi Permodalan Felda (KPF) discarding some FGV shares early this month, Zakaria said this was a piece of the helpful's exchanging movement, instead of a sign of its loss of trust in the estate counter. 

"I don't think there is an issue. There are two segments to KPF's shareholding in FGV. 

"One is the exchanging segment while the rest of the five for every penny stake, which is a long haul holding. 

"It is consummately typical for KPF to take benefit as a component of its exchanging exercises." 

KPF is the fifth-biggest shareholder in FGV after Federal Land Development Authority which holds 17.29 for every penny, Felda Asset Holdings Co Sdn Bhd (13.66 for each penny), Tabung Haji (7.87 for each penny) and Retirement Fund Inc, (7.07 for each penny).

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