Farm Fresh enroute to Bursa Malaysia

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12-10-2021 – Here are some Investing and Economic insights:

  • Khazanah-backed Farm Fresh seeks Main Market listing of Bursa Malaysia – The Edge.
    • Farm Fresh is popularly known as the Malaysian milk producer. It is reported that the initial public offering (IPO) is expected to take place within the first half of 2022, and it is looking at a potential valuation of over RM2 billion.
    • Farm Fresh is 30%-owned by sovereign wealth fund Khazanah Nasional Bhd integrated dairy farming player.
  • Bursa Malaysia on 1-month high – its main index, FBM KL Composite Index rose for the fifth day in a row.
    • Mon, 11 Oct – 1,570.8 ↑
    • Sun, 10 Oct – public holiday, market closed.
    • Sat, 9 Oct – public holiday, market closed.
    • Fri, 8 Oct – 1,563.9 ↑
    • Thu, 7 Oct – 1,561.3 ↑
    • Wed, 6 Oct – 1,559.4 ↑
    • Tue, 5 Oct – 1,530.4 ↑
    • Mon, 4 Oct – 1,522.5 points
  • First 7-Eleven store opens in Mumbai, India on Saturday – CNBC.
    • Reliance Retail Limited opened India’s first 7-Eleven store two days after signing the master franchise agreement with US-based convenience store chain 7-Eleven Inc.
    • Reliance Retail is owned by Mukesh Ambani, Asia’s richest man.
  • The US will not default on its debt…at least for now.
    • The Senate voted 50-48 last Thursday in favour of a short-term increase of the debt ceiling, although just enough to cover the bills until early December.
    • The US stock market was upbeat on news. Investors were pleased that a government shutdown will likely be averted.
    • The debt ceiling is the total amount of money that a government is authorized to borrow to fund its operation and development activity.
    • The US government spends more money than it collects in taxes, so it borrows to make up for the shortfall. Borrowing is done via the US Treasury, through the issuing of bonds. US government bonds are also seen as among the world’s safest investments.

 

Do you know?

30% of coins issued by Bank Negara every year ends up being kept just idle at home, in jars and drawers, as “dead coins” – BNM Annual Report 2020.

 


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