Malaysian stocks closed at a record high and 10-year bond yields dropped the most since June on optimism Prime Minister Najib Razak will take steps to rein in spending and avoid a ratings downgrade in tomorrow’s budget.
Mukhriz Mahathir, the 48-year-old son of Malaysia’s longest-serving prime minister, lost his bid to become a vice president of the country’s biggest political party, setting back plans to establish himself as a future national leader.
Mukhriz Mahathir, the 48-year-old son of Malaysia’s longest-serving prime minister, will tomorrow contest the vice presidency of the nation’s biggest political party, staking his claim as a potential future national leader.
Felda Global Ventures Bhd., the world’s third-largest manager of oil palm plantations, may buy land in Southeast Asia and expand into Africa with 2.6 billion ringgit ($814 million) remaining from its share sale.
Felda Global Ventures Holdings Bhd., the world’s third-largest manager of palm oil plantations, plans to tap its 6.2 billion ringgit ($2 billion) cash pile to expand abroad as Malaysia runs short of available land.
Felda Global Ventures Holdings Bhd., the world’s third-biggest oil palm planter, jumped more than 16 percent in its Kuala Lumpur debut, after raising $3.3 billion in the biggest initial public offering since Facebook Inc.
Felda Global Ventures Holdings Bhd. said that palm oil shipments from Malaysia, the largest producer after Indonesia, should be allowed duty-free for some companies until midyear to help reduce near-record stockpiles.