Malaysian palm oil board

- A + A SINGAPORE (June 30): Palm oil resumed an advance as top producer Indonesia considers a plan to increase its biodiesel mandate, a move aimed at slashing its fuel import costs and soaking up bulging edible oil stockpiles. Futures for September delivery climbed as much as 1.5% to RM4,975 (US$1,129) a ton, reversing an earlier drop of 1.9%, before closing slightly higher. Indonesia may raise the required palm content in biodiesel to 35% from the current 30%, a ministry official said. This could tighten palm oil supplies. If the plan materializes, it will likely absorb an additional 1.5 million tons of crude palm oil on top of the 9.7 million to 10 million tons used for the current B30 mix, said Sathia Varqa, owner of Palm Oil Analytics in Singapore. Indonesia has ample stockpiles of around 7 million tons in May, so feedstock for biodiesel isn’t a problem, according to Varqa. “The main barrier would be a surge in crude palm oil exports limiting the feedstock … [Read more...] about Palm oil climbs as Indonesia considers raising biodiesel mandate

Write to us We can finally travel again! We would love to hear about your travels and adventures. If you don’t feel like travelling yet, that’s OK, as you can always tell us about your past holidays instead. Your story – experiences, tips, advice – should be 700 to 800 words long in Word or Text format. Please attach some photos (1MB, captioned) in a separate email. There is no payment for submissions, and we reserve the right to edit all submissions. Email [email protected] with the subject “Readers Share”. While doing an engineering course at Hanyang University in Seoul, South Korea some years ago, I had a few opportunities to visit interesting places during the semester breaks. One of the places that had the most lasting impression on me was the Panmunjom, located within the Korean Demilitarised Zone (DMZ). Panmunjom was where armistice was reached during the Korean Civil War in 1953. I visited this place twice, first with friends and then again with my mother and … [Read more...] about Malaysian visits the Korean Demilitarised Zone while studying in Seoul

- A + A KUALA LUMPUR (June 30): The government has warned palm oil millers that their operating licences may be suspended if they ceased buying oil palm fruits from smallholders following the sharp fall in the oil’s prices. Deputy Plantation Industries and Commodities Minister Datuk Seri Dr Wee Jeck Seng said the Malaysian Palm Oil Board (MPOB) issued a warning letter to the millers on Thursday (June 30), stressing that action will be taken against those found disrupting the country’s palm oil production. The millers were reminded to carry out their palm oil milling operations and comply with the legislative requirements under the Malaysian Palm Oil Act 1998 (Act 582), Wee said in a statement. Drastic action including suspension of licences would be taken against millers proven to have ceased operations, he said, noting such conduct would render the actual purpose of issuing the licences meaningless. "I view this matter seriously and request palm oil millers not … [Read more...] about MPOB to millers: Continue buying FFB or we will revoke your licence

- A + A KUALA LUMPUR (June 30): Here is a brief look at some corporate announcements and news flow on Thursday (June 30) which include iDimension Consolidated Bhd, Marine & General Bhd (M&G), Petronas Chemicals Group Bhd (PetChem), Mudajaya Group Bhd, Teck Guan Perdana Bhd, Farm Fresh Bhd, Reach Energy Bhd (REB) and Telekom Malaysia Bhd (TM). Information technology solutions provider iDimension Consolidated Bhd has regularised its financial condition and level of operations and hence, it no longer triggers any of the criteria under Paragraph 2.1 of Guidance Note 3 (GN3) of the ACE Market listing requirements. As such, it will be lifted from its GN3 status on Friday (July 1). Shipping firm Marine & General Bhd ( M&G ) returned to the black in its fourth financial quarter ended April 30, 2022 (4QFY22), registering a net profit of RM3.52 million compared with a net loss of RM10.27 million a year ago, mainly due to better vessel utilisation in the … [Read more...] about iDimension, Marine & General, PetChem, Mudajaya, Teck Guan, Farm Fresh, Reach Energy and TM

Representative image PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook In the March 2022 quarter, our coverage universe of 14 FMCG (excluding ITC) companies saw revenues, gross profit, EBITDA and net profit growing by 17 percent, 6 percent, 7 percent and 9 percent, respectively, year on year (YoY). Quarter on quarter (QoQ), growth remained flattish. Among individual companies, Adani Wilmar reported one of the highest revenues and gross profit growth of 40 percent and 26 percent, respectively. Tata Consumer Products saw an EBITDA (earnings before interest, taxes, depreciation and amortization) growth... … [Read more...] about FMCG Review: Some green shoots appearing, though not yet out of the woods

A bazaar at Tashkent, Uzbekistan. (Bloomberg filepix by Taylor Weidman) - A + A PUTRAJAYA (June 30): Central Asian countries have the potential to be the New Axis of Growth for Malaysia, offering huge opportunities for enhanced collaborations in existing and new areas which could bring mutual benefit for the country and the region, said Deputy Minister of Foreign Affairs Datuk Kamarudin Jaffar. Kamarudin said this year marks the 30th anniversary of diplomatic ties between Malaysia and the five Central Asian countries, adding that the region — with a combined population of 76 million people and estimated gross domestic product (GDP) of US$1.02 billion — presents a window of opportunity for Malaysia. The five Central Asian countries are Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. “While taking stock of the last 30 years, it is only natural for us to look at the state of our relationship now and for the next 30 years in future,” he said in … [Read more...] about Malaysia sees Central Asian countries as new axis of growth

The wet market in Old Town, Petaling Jaya, Selangor. According to Annuar, despite inflation rates being on the rise across the world, Malaysia is still among the countries with the lowest rates, which is at 2.8%. (Photo by Low Yen Yeing/The Edge) - A + A PUTRAJAYA (June 30): The government, through the Special Task Force on Jihad against Inflation, will strive to keep the inflation rate in Malaysia low and manageable to ensure the well-being of Malaysian families, Communications and Multimedia Minister Tan Sri Annuar Musa announced. Annuar, who is the chairman of the task force, said they would give attention to all prices of goods and services that could contribute to the increase in the inflation rate, apart from chicken, eggs and cooking oil. “We are also giving our assurance that we will continue taking a proactive approach to control and keep the country’s inflation at a low and manageable rate.” He said this at a press conference after chairing the task … [Read more...] about Annuar: Govt to ensure Malaysia’s inflation rate remains low, manageable

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. The Malaysian government is liable for the US$3 billion debt taken on by 1MDB GIL as Najib had signed the LOS - A + A BECAUSE 1Malaysia Development Bhd (1MDB) had direct access to former prime minister and finance minister Datuk Seri Najib Razak and his staff at the Prime Minister’s Office, the Ministry of Finance (MoF) and Minister of Finance Inc (MoF Inc) were often bypassed as the state-owned strategic investment company did not think there was any need to report to the ministry even though it was owned by MoF Inc, the High Court heard last week. Testifying as the 26th prosecution witness in Najib’s trial over the misappropriation of more than RM2 billion of 1MDB funds, Datuk Siti Zauyah Mohd Desa, a former deputy secretary-general (policy) at MoF, detailed how the government — specifically her ministry — was forced into issuing a letter of support (LOS) for … [Read more...] about 1MDB-Tanore Trial: 1MDB had direct line to Najib

- A + A KUALA LUMPUR (June 30): Bursa Malaysia erased gains made earlier on Thursday (June 30) to end at its intraday low following heavy selling in the last 10 minutes of trading, an analyst said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) lost 0.5%, or 7.26 points, to finish at 1,444.22 from Wednesday's close of 1,451.48. The benchmark index, which opened 4.02 points better at 1,455.5, moved between 1,444.22 and 1,460.3 throughout the day. Overall market breadth was negative with losers outpacing gainers 520 to 327, while 396 counters were unchanged, 1,039 untraded, and 65 others suspended. Total turnover narrowed to 2.26 billion units worth RM1.97 billion from 2.37 billion units valued at RM1.77 billion on Wednesday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said regionally, key indices also finished broadly lower following negative cues from Wall Street overnight. The Nikkei 225 in Tokyo declined after Japan’s May … [Read more...] about Bursa ends at day’s low on heavy last-minute selling

In February, Dave Asprey will cut the ribbon on his first-ever Bulletproof café. After nearly five years, it seems like a logical step for a guy whose butter-infused coffee inspired a cult following. Read on for the story of how Asprey went from experimenting with "biohacking" his own body to building a thriving business. (And check out more stories in our Built From Passion series.) Where the Idea Came From At 20, Dave Asprey was depressed, overweight, and eating to cope with his emotions, which veered from clear and decisive to stricken with fear. After buying disability insurance, "because I got to the point where I wouldn't hire myself," he told Inc . last summer, the former project manager and software entrepreneur became obsessed with his health, from the quality and duration of his sleep to the fat content of foods he consumed. The more he studied himself, the more he realized he wasn't after a quick pick-me-up but the feeling of being on , … [Read more...] about Turning the ‘Bulletproof’ Coffee Craze Into a Big Brand