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IOI reveals forex losses

This article was originally published in The Public Ledger

MALAYSIAN palm plantation company IOI has said it has realised foreign exchange losses of M$100m (US$27.95m) in the quarter to September 30 to try to calm investors whose fears over the size of the losses prompted a 25% slide in its share price in a matter of days. In the 2008 financial year IOI realised a foreign exchange gain of M$7m.

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