The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange fell 0.6 percent at 2,588 ringgit ($637.44) a tonne at the end of trading, a fourth day of losses out of five. Earlier in the session, the contract hit its strongest level since Nov. 24 at 2,625 ringgit. Traded volumes stood at 34,067 lots of 25 tonnes each on Monday evening.
KUALA LUMPUR: Ta Ann Holdings Bhd
is buying a 30.4% stake in Sarawak Plantation Bhd (SPB) for RM169.9mil cash from a company controlled by its executive chairman and some of its directors.
The timber and palm oil producer said in its filings today that it had entered into a share sale agreement with Cermat Ceria Sdn Bhd for the proposed acquisition of 84.97 million shares in SPB for RM2 each.
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