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.
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