KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Poultry producer CAB Cakaran Corp Bhd (KL:CAB) expects to book its first earnings from Indonesia as early as next year, as its long-awaited joint venture with Indonesia’s Salim Group finally gains momentum.
Managing director Chris Chuah said the venture — delayed for nearly a decade due to Covid-19 disruptions and political changes — is now on track, with plans to convert one of Salim’s existing factories to process halal poultry products.
“Without having to build a new facility, production could start within months,” Chuah told The Edge. “We also don’t have a demand issue — Salim Group will handle that.”
Fast Start, Low Capex
Under the first phase of the five-year plan, the partners will invest US$10 million (RM45 million), with operations slated to begin by 2Q 2026.
Salim Group — Indonesia’s largest conglomerate and owner of Indomaret’s 23,000-store network — will hold 70%, while CAB Cakaran retains 30%.
The collaboration gives CAB a strategic entry into Indonesia’s vast consumer market, while keeping capital expenditure low and accelerating returns.
“This structure allows CAB to achieve faster payback in its initial phase,” said UOB KayHian’s Vincent Khoo, who estimated the venture could add RM25 million annually to CAB’s bottom line.
Salim’s Retail Reach, CAB’s Halal Expertise
The Salim Group, best known for Indofood Sukses Makmur, the global producer of Indomie instant noodles, holds a 15.2% stake in CAB Cakaran but has no poultry operations of its own.
By leveraging Salim’s nationwide distribution channels and CAB’s halal-certified poultry expertise, the partnership positions both companies to tap Indonesia’s growing demand for affordable, high-quality halal protein.
Bottom Line
After years of setbacks, CAB Cakaran’s Indonesian expansion is finally taking flight — with the potential to transform the company into a regional halal poultry player and deliver a new earnings stream as early as 2026.
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