by M JAY SHEILA

PPB Group Bhd stock has fallen close to RM1 in its most recent downward slide that began on March 7.

The stock ended at RM16.52 at lunch break today, down 14 sen or 0.8%, from its RM16.66 close yesterday with 121,300 shares exchanging hands. 

The stock has fallen 98 sen or 5.6% since March 7 when it ended trading at RM17.50.

For the financial year ended Dec 31, 2022 (FY22), PPB’s revenues grew by 32% to RM6.15 billion compared to 2021. For the same period, its net profit was up 47% to RM2.2 billion.

In an exchange filing on Feb 28, PPB recommended a proposed final dividend of 28 sen per share for the financial year ended Dec 31, 2022, payable on June 8 to shareholders.

PPB Group is a Malaysian diversified conglomerate which engages in food production, agriculture, waste management, film distribution, property investment and development.

PPB top shareholders are Kuok Brothers Sdn Bhd with a 50.49% stake, Employees Provident Fund (EPF) (10.38%) and Nai Seng Sdn Bhd (3.44%). It has a market capitalisation of RM 23.53 billion.