Renewed Interest In Malaysian Poultry Stocks

MALAYSIA - Renewed investor interest in poultry stocks heightened yesterday, with stocks such as Leong Hup Holdings Bhd and Farm's Best Bhd topping the top gainers' list.

An analyst with a local brokerage said interest in poultry counters had been revived after reports that bird flu virus in the country was under control.

SJ Securities head of research Wee Kim Hong said threat of bird flu in the country had subsided and investors’ perception of the industry, in general, had improved.

“Seeing these stocks run up means confidence has returned,” he said, adding that the poultry sector was still fundamentally strong.

Another analyst with a local brokerage said the Ninth Malaysia Plan, which was announced last week, had also resulted in more favourable sentiment for the poultry industry. Leong Hup, the highest gainer yesterday, surged 39 sen to RM2.14 with 3.1 million shares traded.

Farm's Best shares jumped 38 sen to RM4.88, off its low of RM4.56, while its warrants added 10.5 sen to 40.5 sen.

Source: The Star Online
calendar icon 4 April 2006
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