Palm oil production in Southeast Asia, the largest growing region, is at increasing risk from the probable onset of an El Nino later this year after estates were already hurt by dryness in the first quarter. Prices advanced.
Malaysian opposition leader Anwar Ibrahim, who was jailed for corruption and sodomy, predicted a smooth transition when his coalition ousts the government that has ruled Malaysia for 55 years in elections that may be held within weeks.
PLUS Expressways Bhd. , Malaysia’s biggest toll-road operator, rose to a record in Kuala Lumpur stock trading after Jelas Ulung Sdn. offered 26 billion ringgit ($8.3 billion) for the company, topping a rival bid.
Tenaga Nasional Bhd. , Malaysia’s state-controlled generator, will bid for a 7 billion-ringgit ($2.1 billion) government project to upgrade power plants as the economic recovery boosts electricity demand.
Khazanah Nasional Bhd., Malaysia’s state investment company, may raise as much as S$500 million ($354 million) from the biggest sale of Islamic bonds, or sukuk, denominated in neighboring Singapore’s currency.
Malaysia’s benchmark Kuala Lumpur Composite Index gained 3.31, or 0.3 percent, to 1,026.78 at the close of trading, rounding a 3.6 percent gain this week. It’s the measure’s biggest weekly advance since April 10. The index climbed to its highest close since Sept. 24.