
Sandakan company probed for diverting subsidised cooking oil to unauthorised retailers
KOTA KINABALU: A cooking oil repacking company is under investigation for allegedly distributing subsidised cooking oil in 1kg packets to unauthorised retailers.
Domestic Trade and Cost of Living Ministry branch in Sandakan said a compliance audit last week found that 13-tonne, around 38% of the company's total allocation of 34-tonne cooking oil, had been delivered to unapproved premises.
Its district enforcement chief Azdy Zukkry John said action had been taken against the Sandakan-based firm under the Control of Supplies Act 1961.
In a statement on Tuesday, he said documents including invoices, sales receipts, stock records and controlled goods licences were seized from the company.
According to the statement, since August 2024, repacking companies have been required to follow strict delivery guidelines in an effort to prevent leakage and misuse of subsidised goods.
The ministry reminded all parties involved in the distribution of subsidised cooking oil to comply with government directives to ensure this aid reaches its intended recipients.
Under the Control of Supplies Act, individuals found guilty of offences may face fines of up to RM1mil, imprisonment for up to three years, or both. Companies can be fined up to RM2mil, with higher penalties for repeat offences.
Consumers are encouraged to report any suspected irregularities in the supply chain via the 1-800-886-800 hotline, whatsapp at 019-848 8000, e-aduan portal (http://eaduan.kpdn.gov.my), email (eaduan@kpdn.gov.my), the Ez Adu KPDN app or the enforcement command centre at 03-8882 6088/6245.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The Sun
35 minutes ago
- The Sun
BeauEver Secures NZ Prime Minister's Support in Historic China Summit to Accelerate Global Skincare Expansion
SHANGHAI, CHINA - Media OutReach Newswire - 2 July 2025 - At the 2025 China–New Zealand Trade Innovation Summit, New Zealand Prime Minister, the Right Hon. Christopher Luxon, witnessed the official signing of a strategic partnership between high-end anti-aging brand BeauEver and biotechnology leader The Beauty Lab Collective (TBLC). This milestone partnership deepens economic cooperation between New Zealand and China while promoting the global development of responsible, science-driven skincare innovation. 'This partnership reflects the strength of the NZ–China relationship and our commitment to global innovation,' said Prime Minister Luxon. 'BeauEver represents the best of New Zealand — science, sustainability, and international vision.' The agreement includes the launch of a New Zealand-based Active Ingredient Innovation Center, dedicated to researching marine and botanical compounds native to New Zealand's pristine ecosystems. Through TBLC's certified cruelty-free infrastructure and intelligent manufacturing, BeauEver aims to enhance its capacity to meet the evolving needs of consumers in China and across Southeast Asia. 'Our mission is to become a globally trusted name in cellular anti-aging — where nature meets science, and skincare becomes a meaningful, restorative ritual. This partnership helps us share that philosophy with more women around the world.' said Liam Corkery, General Manager of BeauEver New Zealand. BeauEver's innovation is grounded in more than 40 years of research into bioactive ingredients and cell-level rejuvenation. With dual R&D centers in Switzerland and New Zealand, the brand focuses on holistic skin renewal by supporting mitochondrial vitality, collagen stimulation, and skin-barrier reinforcement. At the heart of its product line is the BeauEver Cell-Reviving Firming and Rejuvenating Essence — a lightweight, high-efficacy formula designed to support skin's natural renewal process. Powered by bio-fermented actives, transdermal collagen delivery, and barrier-enhancing peptides, the essence helps improve the appearance of firmness, radiance, and resilience over time. It embodies BeauEver's brand philosophy: to awaken the body's natural energy and deliver visible results with integrity, science, and care. With a reported 300% year-on-year growth in 2024 in China market, BeauEver is rapidly expanding its global footprint in the premium skincare space — particularly among dermatology clinics, spa professionals, and wellness institutions across Asia-Pacific.


The Star
an hour ago
- The Star
Microsoft makes deep job cuts across Xbox division, cancels games
Microsoft Corp's gaming division laid off hundreds of employees on July 2, part of a broader culling at the software company as it seeks to control costs. An Xbox spokesperson declined to confirm how many people were impacted, but the cuts were widespread and significant. Subsidiaries across the gaming organisation were told that they would be affected by the layoffs. Microsoft's Stockholm-based King division, which makes Candy Crush, is cutting 10% of its staff, or about 200 jobs, according to people familiar with the plans. Other European offices, such as ZeniMax, also began cutting employees early Wednesday, said the people, who asked not to be identified because they were not authorised to speak to the press. News of further job cuts trickled out slowly as other units of Microsoft Gaming, such as Call Of Duty studios Raven Software and Sledgehammer Games as well as Halo Studios and Forza Motorsport developer Turn 10 Studios, also announced workforce reductions, according to the people familiar. The company canceled several projects that had been in development for years, including the fantasy game Everwild, in development at UK-based Rare Studio, and an original new online game from ZeniMax Online Studios, the maker of The Elder Scrolls Online. Both of those studios will cut jobs as a result of the cancellations, according to the people. Xbox also cancelled the planned reboot Perfect Dark and shuttered The Initiative, one of the studios behind it. In an email to staff, Xbox Game Studios head Matt Booty said that the studio shutdown and project cancellations "reflect a broader effort to adjust priorities and focus resources to set up our teams for greater success within a changing industry landscape.' Microsoft announced July 2 that it's eliminating 9,000 workers companywide in its second wave of layoffs this year. The cuts will have an impact across teams, geographies and tenure, and are being made in an effort to streamline processes and reduce layers of management, a company spokesperson said. The terminations follow an earlier round of 6,000 job cuts in May that fell hardest on product and engineering positions. The company's gaming units were expected to be told throughout the day how many jobs would be cut at each office. The division had about 20,000 employees as of January 2024. "To position Gaming for enduring success and allow us to focus on strategic growth areas, we will end or decrease work in certain areas of the business and follow Microsoft's lead in removing layers of management to increase agility and effectiveness,' Microsoft Gaming chief executive officer Phil Spencer said in an email to staff seen by Bloomberg News. Spencer didn't share specific numbers but said that impacted employees will be "given priority review' if they apply to open jobs elsewhere within the company. He wrote that Microsoft's "platform, hardware, and game roadmap have never looked stronger,' but that "we must make choices now for continued success in future years and a key part of that strategy is the discipline to prioritize the strongest opportunities.' Employees at Xbox had been bracing for the job cuts since May, when Microsoft began conducting companywide layoffs and speculation mounted that the gaming division might be impacted. This is the fourth mass layoff at Xbox in the last 18 months. The gaming division has been under pressure to boost profit margins since Microsoft purchased Activision Blizzard for US$69bil (RM291.11bil) in a deal that closed in October 2023. – Bloomberg


New Straits Times
an hour ago
- New Straits Times
Japan's yen is a compelling trade but comes at a cost
SINGAPORE: Global investors are unwinding their wagers on Japan's yen rising quickly as a cautious central bank, a trade war and the prohibitive cost of holding the currency sour one of the year's most popular trades. Most analysts and real money investors remain convinced the yen will eventually appreciate as Japan shifts away from ultra-low rates. But pitted against this conviction are short-term headwinds, including the lack of progress on a trade deal with the United States and uncertainty surrounding Japanese national elections. Monetary policy has become the yen's biggest sticking point after the Bank of Japan (BOJ) has hinted it is loath to raise rates again this year, having done so in January, before it can gauge the full impact of US President Donald Trump's sweeping tariffs. James Athey, London-based fixed income manager at Marlborough, has reduced his long yen positions versus the dollar because he sees short-term positioning in the currency and the BOJ's "intransigence" as headwinds. "Ultimately we do still see numerous long-term tailwinds for the yen, it's just about managing the journey amongst this uncertainty and volatility," he said. Investors still hold net long positions in the yen worth US$11.41 billion, although that's drastically lower than the record US$15.70 billion at the end of April, weekly data from the US markets regulator showed. By virtue of low Japanese yields and huge offshore investments, the yen has historically been sensitive to overseas interest rates. The yawning gap between the US and Japanese interest rates in the past few years had driven the yen to record lows, prompting costly interventions from Tokyo. That gap also makes owning the yen, whose bonds pay 0.50 per cent on average, using US dollars that cost upwards of 4.00 per cent, an expensive proposition for investors. If the yen depreciates, it's a double-whammy. Bo Zhuang, global macro strategist for Loomis Sayles, an affiliate of Natixis Investment Managers, said investors expected at the beginning of the year the long yen trade would work well over three to six months. "But now it's about 'oh well, maybe it will last more than that' and the cost of holding such a position might be too high for them to recover." Shifting expectations At the start of 2025, market expectations were for Japan to raise rates quickly and for the US Federal Reserve to start cutting rates later in the year. Yen buyers were rewarded when Trump's sweeping trade tariffs in April jolted markets, shook investors' faith in the US dollar and caused a swift 9 per cent rise in the yen from levels near 160 per dollar, its strongest first-half performance since 2016. But the yen has been meandering since then as the BOJ turned cautious. "The trade faces a negative carry because of the interest rate differential and needs to be actively managed," said Matthias Scheiber, senior portfolio manager at Allspring Global Investments, who reduced his long yen position. But Scheiber reckons any sell-off in yen is an opportunity to buy it. "We still like the trade, despite the fact that over the last couple of weeks, it was basically trading flat," said Scheiber, who is also the head of the multi-asset solutions team at Allspring. In the derivatives market too, options betting on a higher yen cost more, in a sign of bullishness on the currency. Interest in low-cost yen options that deliver outsized payoffs if the currency strengthens sharply has jumped. The yen's trajectory will heavily depend on where US duties end up after Trump this week cast doubt over a possible deal with Japan. He also suggested a tariff of 30 per cent or 35 per cent on imports from Japan — well above the previous 24 per cent tariff rate. A high tariff rate will stifle Japan's major auto exports and make the BOJ's path towards shifting away from decades of ultra-low rates even more perilous. "I think the yen is waiting for catalyst in terms of how the US-Japan trade negotiations go because I think that's a roadblock for policymakers," said Moh Siong Sim, currency strategist at Bank of Singapore.