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发表于 30-10-2008 09:18 AM
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新闻。
IOI Corp says financial position still strong
Published: 2008/10/30
The planter assures shareholders it can meet cash flow requirements, despite a RM100 million foreign-exchange loss in the fiscal first quarter
IOI Corp Bhd, Malaysia's second-largest plantation company, said it had incurred a loss of RM100 million on foreign-exchange contracts and sought to assure shareholders its financial position "remains strong."
The loss came in the company's fiscal first quarter in the three months to September, according to a filing yesterday to the Kuala Lumpur Stock Exchange. That compares with a foreign-exchange gain of RM7 million in the last financial year, it said.
IOI said on October 24 that while currency losses or gains from forward sales of palm oil are "normal," they have recently become "more significant."
The stock slumped 19 per cent that day amid speculation about the extent of the losses, followed by a decline of 11 per cent on October 28.
"The company wishes to further assure shareholders that the financial position of the group remains strong," the statement said. IOI "has no problem meeting cash flow requirements," it added.
IOI stock gained 2.7 per cent yesterday to close at RM2.25, valuing the company at RM13.8 billion. The statement on the first-quarter foreign-exchange loss came after the end of trade. - Bloomberg
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