KUALA LUMPUR (March 22): Comfort Gloves Bhd managing director Cheang Phoy Ken has ceased to be a substantial shareholder in the company, after selling 32 million shares or a 5.49% stake in the glovemaker, off-market.
The disposal was carried out on March 18 at RM2.40 per share, for a total of RM76.8 million, the company’s filing showed. This represents a premium of 23 sen or 10.6% to the counter's closing price of RM2.17 on that day.
PETALING JAYA: Market sentiment seems to lean towards the larger, more established palm oil companies as being the greatest beneficiaries of the crude palm oil rally. But the phenomenon in the stock market is rather peculiar because their share prices begged to differ. In fact, the small cap palm oil companies were the ones that have outperformed the larger brethren, from when the market bottomed out on March 19 last year and between the period when the crude palm oil price (CPO) touched RM3,000 in September last year and when it hit its stratospheric price above RM4,000 per tonne last week.