Khamis, 17 November 2011

NST Online Business Times : latest

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NST Online Business Times : latest


AirAsia cut to 'sell' at Citi, stock slips

Posted: 17 Nov 2011 05:39 PM PST

AirAsia Bhd, Asia's biggest budget carrier, fell to its lowest in more than two weeks in Kuala Lumpur trading after the stock was cut to "sell" from "buy" at Citigroup Inc.

The stock dropped 1.3 per cent to RM3.75 at 9:07 a.m. local time, set for its lowest close since Nov. 1. -- Bloomberg

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KL Kepong to expand oleochemicals business

Posted: 17 Nov 2011 07:17 PM PST

Kuala Lumpur Kepong Bhd is seeking acquisition opportunities for its oleochemicals business to expand capacity and meet rising global demand for its products, Chief Executive Officer Lee Oi Hian told reporters at a briefing near Kuala Lumpur.

The company is also exploring opportunities to expand its landbank to 300,000 hectares for rubber and oil palm from 250,000 hectares.

The Malaysian company may build at least two more palm oil mills in the next few years in Indonesia to add to three other mills there which are currently under construction, he told reporters in Petaling Jaya, Selangor.

It also plans to start construction on three refineries in Indonesia soon, he said. -- Bloomberg

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