KUALA LUMPUR (Jan 26): Shares of low-key TDM BHD [] rose to multi-year highs of RM4.36 on Thursday on investors’ positive outlook for its plan to invest RM300 million to expand its PLANTATION []s.
At 11.50am, it was up 15 sen to RM4.36, the highest in more than five years. There were 406,300 shares done.
The FBM KLCI was up 2.12 points to 1,521.88. Turnover was 932.83 million shares valued at RM614.05 million. There were 345 gainers, 227 losers and 306 stocks unchanged.
In early January, the company said it would invest RM300 million in 2012 to develop its plantations in Terengganu and Kalimantan.
The company which owned 32,000ha of oil palm land in Terengganu had recently acquired 40,000ha in Kalimantan.
Terengganu Incorporated Sdn. Bhd is the single largest shareholder in TDM with a 50.81% direct stake or 117.02 million shares.
TDM's net asset per share was RM3.50 as at Sept 30, 2011. Its earnings have also improved, surging to RM51.47 million in the third quarter ended Sept 30, 2011 from RM28.26 million a year ago.
At 11.50am, it was up 15 sen to RM4.36, the highest in more than five years. There were 406,300 shares done.
The FBM KLCI was up 2.12 points to 1,521.88. Turnover was 932.83 million shares valued at RM614.05 million. There were 345 gainers, 227 losers and 306 stocks unchanged.
In early January, the company said it would invest RM300 million in 2012 to develop its plantations in Terengganu and Kalimantan.
The company which owned 32,000ha of oil palm land in Terengganu had recently acquired 40,000ha in Kalimantan.
Terengganu Incorporated Sdn. Bhd is the single largest shareholder in TDM with a 50.81% direct stake or 117.02 million shares.
TDM's net asset per share was RM3.50 as at Sept 30, 2011. Its earnings have also improved, surging to RM51.47 million in the third quarter ended Sept 30, 2011 from RM28.26 million a year ago.
