IOI, Malaysian Planters Rise After RHB Upgrades Industry Rating

Malaysian plantation stocks, including IOI Corp., rose in Kuala Lumpur trading after the industry’s rating was upgraded at RHB Capital Bhd. (RHBC), which said it offered “stable” earnings and “reliable” dividends.

IOI rose 1.8 percent to 4.52 ringgit at 9:10 a.m. local time. Kulim Malaysia Bhd. (KUL) added 1.9 percent to 3.17 ringgit. The sector was raised to “overweight” from “neutral,” RHB wrote in a report.

To contact the editor responsible for this story: Chan Tien Hin at thchan@bloomberg.net

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