Sustainable palm oil

- 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

Share to Twitter Share to Linkedin “We are small obviously on a global scale, but other countries can still learn from the courage that we had when we decided to shift from oil and coal to the use of geothermal (decades ago)… and our can do spirit and attitude. But I think we, we need courage to reach the goals that we have already outlined in front of us. We can't be too cautious at the moment. We can't afford to be (too cautious) because the challenges are just that's great. Time is not something that we have.” Those are the words of Birta Kristin Helgadottir, Director of Green By Iceland in an extensive interview for my Electric Ladies Podcast last week when I was touring their clean energy technologies. Iceland’s economy is now run on 85% renewable energy and they are on the path toward 100%. Iceland electricity comes from hydropower, which is 72%, and geothermal, which is 25%, and they are leveraging wind power soon to get to 100% renewable energy by … [Read more...] about Business Models Revolving Around Sustainability – From Iceland With Courage

- 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

Share to Twitter Share to Linkedin Furtuna Skin cofounders Agatha Relota Luczo and Kim Walls are poised to make their luxury boutique skincare line the new standard in the plant-based clean beauty space. Between Luczo’s background as an international model and cofounder of the magical Bona Furtuna Olive Oil, and Walls’ pioneering work in clean beauty before ‘clean beauty’ was a recognized term, Furtuna Skin’s meteoric rise to superstar status was destined to happen. The brand launched in November 2019 and began making industry waves within a year, garnering recognition in the way of awards, press and a wildly loyal celebrity following. There’s a reason Furtuna Skin stands firmly by the tagline (which they’ve trademarked), “Wildly potent skincare.” “Our mission is to leave the people and places we touch better off than when we found them,” Walls explains. “We advocate for the health of humans, animals and the earth through our business practices, … [Read more...] about How Wildly Popular Furtuna Skin Is Changing Skincare Routines, While Making The World A Better Place

- A + A LONDON/KUWAIT/CAIRO (June 30): The OPEC+ coalition ratified an oil-production increase that completes the return of supplies halted during the pandemic, while deferring discussions on its next move for another day. The 23-nation group led by Saudi Arabia rubber-stamped plans to add 648,000 barrels a day in August, restoring the final tranche of the 9.7 million barrels a day that was shuttered just over two years ago, according to a statement. But with most members besides the Saudis and their neighbors unable to raise output, the decision is largely symbolic. In recent months, the group has added significantly less oil to the market than promised, doing little to soothe crude prices. Oil was little changed after the widely expected decision by the Organization of Petroleum Exporting Countries and its allies. Brent crude was 0.5% lower at US$115.69 a barrel as of 1:34 p.m. in London. Traders are now more concerned with how Riyadh and the United Arab … [Read more...] about OPEC+ ratifies August supply hike, next move left unresolved

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A ALL eyes are on RHB Banking Group’s newly minted group managing director (MD) and group CEO Mohd Rashid Mohamad as he steers the fourth-largest banking group by assets forward in a tough operating landscape. “It’s very challenging, especially now in a fast-changing market environment, and as we face potential risks such as geopolitical and inflationary,” acknowledges Rashid in his first exclusive interview as group MD/CEO. Competition has intensified, given new entrants into the market, which are not just new banks but also technology companies that compete for the same pie. Rashid adds that this has partly affected the profitability of the industry, along with many other factors. He notes that banks globally no longer see “high ROEs” as before. For RHB Bank Bhd, its return on equity (ROE) in the past 10 financial years hit a high of 13.4% in FY2012 before … [Read more...] about Cover Story: RHB’s Game Plan in ‘fast-changing’ new normal

Share to Twitter Share to Linkedin If you’ve been ready this column long enough, you know I’m obsessed with Vintner’s Daughter and its Active Botanical Serum , an award-winning face oil formulated with 22 nutrient-rich botanicals for nourishing and restorative moisture. With this serum as my base, my makeup glides on beautifully, and I’m left with an understated, hydrating sheen that stays with me all day. Very few, if any, other faces oils measure up. So you can imagine my delight when I discovered the brand, founded by a pioneer of the sustainable, fewer-is-better skincare philosophy April Gargiulo, is debuting its first fragrance, Understory . The philosophy behind Vintner’s Daughter is slow and measured skincare formulations that take years to perfect, so it’s not everyday the team creates a new product. I sat down with April to understand the inspiration behind Understory as well as how it dials back to the essence of Vintner’s Daughter, itself. … [Read more...] about Vintner’s Daughter New Fragrance, Understory Joins Its Cult Skincare Lineup

Deepak Parekh (File Image) We remain optimistic about the resilience of the Indian economy despite the high volatility in the global environment, said Deepak Parekh, Chairman, HDFC Life Insurance, at the firm's 22nd Annual General Meeting. He added that t he world’s largest COVID vaccination drive has allowed India to swiftly move beyond the acute phase of the pandemic that was witnessed at the start of the last financial year. "W e are now witnessing early signs of a sustainable economic revival. High growth in non - oil and non - gold imports reflects a pickup in domestic demand. Domestic economic activity is fuelled by private consumption and rising discreti onary spending," Parekh observed. Furthermore, the forecast for normal southwest monsoon this year is expected to support rural consumption, he said. Talking about the life insurance industry, he said that d espite the pandemic, the Indian life insurance industry’s new business … [Read more...] about HDFC Life 22nd AGM | Optimistic about resilience of Indian economy, says Deepak Parekh