29/04/2011 (Live Trading News) - A recovery in Palm Oil futures yesterday will give help Plantation companies today, Shayne Heffernan best buys are Genting Plantations and Kuala Lumpur Kepong.

Genting Plantations Berhad, formerly known as Asiatic Development Berhad, is a Malaysia-based company engaged in plantation, investment holding and provision of management services. The Company operates in four segments: plantation, which is engaged in oil palm plantations; property, which is engaged in property development and the operation of a golf course; biotechnology, which is engaged in genomics research and development, and others.

Kuala Lumpur Kepong Berhad (KLK) is engaged in the business of producing and processing palm products and natural rubber on its plantations. The Company’s subsidiaries are engaged in the business of plantation, manufacturing, retailing, property development and investment holding. The Company has a plantation land bank of more than 240,000 hectares in Malaysia (Peninsular and Sabah) and Indonesia (Belitung, Sumatera and Kalimantan). It operates in six business segments: plantation, manufacturing, retailing, property development, investment holding and others. Its subsidiaries include P.T. Sekarbumi Alamlestari, P.T. Langkat Nusantara Kepong and KLK Bioenergy Sdn Bhd.

In Kuala Lumpur yesterday the KLCI ended 5.39 points or 0.35 per cent higher at 1,535.30, extending its gains for the fourth consecutive day, after opening 2.45 points better at 1,532.36.

News reports today in Malaysia said that some Chinese banks were interested in a stake in RHB Capital amid speculation that the China Construction Bank was seeking approval from Bank Negara Malaysia to take up an equity interest in EON Capital Bhd.

RHB Capital rose 20 sen to RM8.80 while EON Cap added five sen to RM7.23.

Volume on the Main Market declined to 694.190 million shares, worth RM1.360 billion, from 832.859 million shares, worth RM1.365 billion, recorded yesterday.