Indonesia

Yvette Tanamal (The Jakarta Post) PREMIUM Jakarta   ● Wed, May 25, 2022 The government appears to have caved in to public pressure after the British Embassy in Jakarta raised a rainbow flag in honor of the lesbian, gay, bisexual and transgender (LGBT) community last week, eliciting backlash in conservative-leaning Indonesia. The Foreign Ministry summoned British Ambassador to Indonesia Owen Jenkins on Monday to express its disapproval of the embassy’s decision to fly the flag at its Jakarta compound, a spokesman confirmed on Tuesday, even as some experts insist the embassy had not violated any regulations. to Read Full Story SUBSCRIBE NOW Starting from IDR 55,500/month Unlimited access to our web and app content e-Post daily digital newspaper No advertisements, no interruptions Privileged access to our events and programs Subscription to our newsletters We accept Register to read 3 premium articles for free Already … [Read more...] about Pride and prejudice: Govt summons UK ambassador over LGBT flag ‘incident’

- A + A (May 24): India is set to restrict sugar exports as a precautionary measure to safeguard its own food supplies, another act of protectionism after banning wheat sales just over a week ago. The government is planning to cap sugar exports at 10 million tons for the marketing year that runs through September, according to a person familiar with the matter. The aim is to ensure there are adequate stockpiles before the next sugar season starts in October, the person said, asking not to be identified as the information is private. The move may be announced in the coming days, the person said. India was the world’s biggest sugar exporter after Brazil last year, and counts Bangladesh, Indonesia, Malaysia and Dubai among its top customers. A spokesman for both the food and commerce ministries didn’t immediately respond to a request for comment. Sugar futures in London rose as much as 1.1%. Producers in India plunged, with Shree Renuka Sugars Ltd sliding as much as … [Read more...] about India to limit sugar exports in risk to global food prices

Zuraida: So far, we have no worries because we definitely have no shortages at all. - A + A (May 24): Malaysia, the world’s second-biggest palm oil producer, has ruled out curtailing cooking oil exports as it has enough supplies to meet local demand and will instead focus on targeting subsidies to ensure it benefits the most needy consumers. “So far, we have no worries because we definitely have no shortages at all,” Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin said in an interview Tuesday (May 24). “Most of the time we export more than half of what we produce, and we still have an excess to export,” she said from her office in the administrative capital Putrajaya. The nation aims to fill the gap in the edible oil market caused by the Ukraine war, as well Indonesia’s export curbs on palm oil, Zuraida said. She forecasts Malaysia’s palm oil production may rebound to 23 million to 25 million tonnes in 2022, versus last year’s 18.1 … [Read more...] about Malaysia rules out curbs on cooking oil exports, minister says

- A + A KUALA LUMPUR (May 24): Logistics and express carrier provider GDEX Bhd posted a net loss of RM1.9 million in the first quarter ended March 31, 2022 (1QFY22), the first time since it was listed in 2005, amid tough competitions at home and higher operating costs. The group reported a 13.16% decline in revenue during the quarter to RM91.89 million, compared with RM105.81 million a year ago, amid lower contributions from its courier services segment. Geographically, Malaysia and Vietnam collectively made up the majority, or 99.6%, of GDEX's revenue, while Singapore contributed the balance 0.4%, according to GDEX. GDEX managing director Teong Teck Lean said in a statement accompanying the results that the group continues to face headwinds in Malaysia due to predatory pricing. "The competitive pricing environment is destructive, with some players offering free delivery service to grow their volume. However, this practice seems to be slowing down and we … [Read more...] about GDEX falls into the red for the first time ever amid stiff competitions in 1QFY22

- A + A KUALA LUMPUR (May 24): TSH Resources Bhd's profit surged to RM101.86 million for the first quarter ended March 31, 2022 (1QFY22), over 6.5 times the RM15.57 million it recorded in the same quarter last year, thanks to higher palm product prices and gains from the disposal of an estate and palm oil mill, partially offset by lower sales volume. The planter's revenue grew 38.21% to RM337.35 million from RM244.08 million, its bourse filing showed. Earnings per share jumped to 6.99 sen from 1.51 sen. The Sabah-based company did not declare any dividend. The group said 92.57% of its group revenue was contributed by its palm products segment, from which it gained a profit of RM129.41 million — more than double the RM61.14 million it achieved in 1QFY21. Excluding the pre-tax disposal gain of RM53.2 million, the palm products segment's profit would have come in at RM76.2 million, as significantly higher average selling prices (ASPs) of crude palm oil and palm kernel … [Read more...] about TSH’s 1Q profit up six times over on stronger palm product prices, disposal gain

- A + A KUALA LUMPUR (May 24): Farm Fresh Bhd's net profit for the fourth quarter ended March 31, 2022 (4QFY22) surged 50.63% to RM17.68 million from RM11.74 million a year earlier, on a higher gross profit margin. In a bourse filing on Tuesday (May 24), the group said the higher gross margin reflected both an increase in sales as well as a price increase of its chilled ready-to-drink (RTD) milk products and ambient RTD products by an average of 5% which it implemented in September and December 2021 respectively. It noted that gross profit margin improved from 27.6% to 28.6% a year ago. Meanwhile, quarterly revenue was marginally up by 0.44% to RM128.07 million from RM127.51 million. It noted that its Malaysian operation's revenue grew by 6.16% to RM120.68 million from RM113.68 million a year ago, driven by the recovery in economic activities and consumer confidence on the heels of further easing of restrictions and reopening of borders. However, revenue fell … [Read more...] about Farm Fresh 4Q earnings up 51% on increase in sales and price hikes, FY22 profit up 121%

- A + A NEW DELHI (May 24): India is considering cutting an import levy on soybean and sunflower oils, another step in a series of measures the country has taken to cool surging local prices of food. The government is deliberating whether to reduce the agriculture infrastructure and development cess, which is currently 5%, or abolish it, according to a person familiar with the matter. A final decision may be taken this week, said the person, who asked not to be identified as the information is private. A finance ministry spokesperson was not immediately available to comment. The extra levy is used by the government to collect funds for farm infrastructure projects. Curbing the tax could be one of the limited options available for the government to reduce surging vegetable oil prices in the world's second most-populous nation. India has already scrapped base import levies on most cooking oils, including palm oil and soybean oil, and imposed inventory limits to … [Read more...] about India considers tax cut on soybean and sunflower oil to cool prices

- A + A LONDON (May 24): Food protectionism is on the rise in the developing world as governments try to safeguard local supplies, and the effects are threatening to spill over into richer economies. Countries are restricting exports to cope with high prices that have been exacerbated by the war in Ukraine. Malaysia just announced a ban on chicken exports, causing consternation in Singapore, which gets a third of its supplies from there. India has moved to curb wheat and sugar shipments, Indonesia has limited palm oil sales, and some other nations have issued grain quotas. The poorest countries are most vulnerable to surging food prices and shortages, but wealthier economies are not immune. For example, almost 10 million Britons cut back on food in April amid a cost-of-living crisis. US restaurants are shrinking the size of their portions, while France has pledged to issue food vouchers to some households. "Lower-income households in the UK and the US are … [Read more...] about Rising global food protectionism risks worsening inflation woes

PETALING JAYA: The 194 countries that are member states of the World Health Organisation (WHO) should disclose information on the intellectual property and manufacturing know-how of vaccines, diagnostics and therapeutics, said Khairy Jamaluddin. The Health Minister said Malaysia supports sustainable financing and reforms towards an international "health architecture" that will avoid "moral failure" in responses towards the Covid-19 pandemic. However, Khairy said any amendments to the International Health Regulation (IHR) will have to take into account the principles of equity, accountability and transparency and the sovereign process of member states. ALSO READ: Khairy confirmed as one of five vice presidents of World Health Assembly "Yes, by all means, hold member states accountable by disclosing key information of public health concerns. "But, let us call for the disclosure of intellectual property and manufacturing know-how of vaccines, diagnostics and therapeutics," … [Read more...] about WHO member states should disclose key info on vaccines, diagnostics and therapeutics, says Khairy

Home Minister Datuk Seri Hamzah Zainuddin - A + A PUTRAJAYA (May 24): The Home Ministry (KDN) will hold discussions with the Philippines, Indonesia and Bangladesh on the proposal to recruit workers from these new source countries for the security sector. Home Minister Datuk Seri Hamzah Zainuddin said a decision at the policy level had been agreed upon to bring in foreign labour from other countries, apart from Nepal. "However, to bring in these workers, they will have to meet the criteria (set), that is, the foreign workers need to have the work experience in the security sector in their own countries,” he told reporters after attending a Malaysian Maritime Enforcement Agency (MMEA) Hari Raya celebration here on Tuesday (May 24). He said the applications for foreign workers can be submitted after discussions on the matter had been held but their entry would depend on the decision of the source nations involved. Hamzah was previously quoted as saying that the … [Read more...] about Home Ministry to discuss with new source countries on recruiting security workers