Latest news with #EngkuAbLatif
Barnama
3 hours ago
- Business
- Barnama
CPO Futures Extend Rally To End Higher, Tracking Soybean Oil's Uptrend
By Engku Shariful Azni Engku Ab Latif KUALA LUMPUR, July 24 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives continued its rally to close higher on Wednesday following the uptrend in soybean oil prices. Palm oil trader David Ng said weaker CPO production in Indonesia also lifted market sentiment today. 'We see CPO prices supported at RM4,200 (per tonne) and resistance at RM4,350,' he told Bernama. At the close, the spot-month August and October 2025 contracts gained RM15 each to RM4,259 and RM4,330 per tonne respectively, while the September 2025 and December 2025 contracts rose RM12 each to RM4,310 and RM4,329 per tonne respectively. The November 2025 contract improved RM14 to RM4,334 per tonne, and January 2026 climbed RM8 to RM4,321 per tonne. Trading volume eased to 75,735 lots from 75,900 lots on Wednesday, while open interest widened to 233,661 contracts from 231,569 previously. The physical CPO price for July South edged up RM10 to RM4,280 per tonne. -- BERNAMA
Barnama
2 days ago
- Business
- Barnama
Rubber Market Closes Higher On Supply Concerns, Strong Regional Futures
WORLD By Engku Shariful Azni Engku Ab Latif KUALA LUMPUR, July 22 (Bernama) -- The Malaysian rubber market closed higher on Tuesday, supported by rising regional rubber futures and concerns over a natural rubber supply shortage due to bad weather in key producing countries, a dealer said. He said market sentiment was also lifted by the encouraging report of China's auto sales amid the lingering optimism surrounding the US-China trade talks. 'Nevertheless, further gains were capped by declining benchmark crude oil prices and a slightly stronger ringgit against the US dollar amid growing caution over US tariff policies and the ongoing geopolitics in the Middle East,' he told Bernama. At the time of writing, Brent crude oil fell 1.03 per cent to US$68.47 per barrel. The dealer noted that Japanese rubber futures edged higher on Tuesday, as heavy rains in key producing countries stoked supply concerns, while strong vehicle sales in China also supported the market. 'It was reported that top rubber producer Thailand's meteorological agency warned of heavy rains that may cause flash floods and overflows from July 21-24,' he added. At 3 pm, the Malaysian Rubber Board (MRB) reported the price of Standard Malaysian Rubber 20 (SMR 20) climbed by 7.5 sen to 743 sen per kilogramme, while latex in bulk was up by 3.5 sen to 573.50 sen per kg. -- BERNAMA
Barnama
30-06-2025
- Business
- Barnama
Ringgit To Trade Firmer Against US Dollar Next Week, Ahead Of Us Labour Data
WORLD By Engku Shariful Azni Engku Ab Latif KUALA LUMPUR, June 28 (Bernama) -- The ringgit is expected to trade firmer next week following the US labour market data, an analyst said. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said investors would pay attention on two key developments, namely the Nonfarm Payrolls (NFP) and the unemployment rate — and the expiry of the 90-day pause on US tariff implementation. 'The labour market data will be pivotal in shaping expectations for the US Federal Reserve's policy direction, with greater emphasis likely to shift towards supporting maximum employment 'With signs of a softening global and US economy emerging, investor sentiment is expected to remain cautious heading into the second half of 2025,' he told Bernama. Mohd Afzanizam said the US job market is showing moderation, with the monthly average NFP standing at 123,800 in the first five months of 2025, down from 179,600 in the same period last year. The unemployment rate had risen from 4.0 per cent in January to 4.2 per cent in March this year, he added. On the currency front, he said the ringgit has shown resilience this week, rebounding from RM4.2948 against the US dollar on June 23 to RM4.2327 on June 26, marking a 1.5 per cent appreciation. 'With the US Dollar Index (DXY) on a softer trajectory, we anticipate the ringgit could trade firmer around RM4.22 to RM4.23 in the coming week,' he said.
Barnama
24-06-2025
- Business
- Barnama
Ringgit Closes Lower Against US Dollar Amid Mideast Uncertainty
By Engku Shariful Azni Engku Ab Latif KUALA LUMPUR, June 23 (Bernama) -- The ringgit closed lower against the greenback on Monday as US involvement in the war between Israel and Iran spurred demand for safe haven assets like the American dollar, an analyst said. The United States bombed Iran's nuclear facilities on Sunday. At 6 pm, the local note slid to 4.2915/2980 versus the greenback from last Friday's close of 4.2505/2565. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that the US Dollar Index (DXY) was 0.25 per cent higher at 98.958 points as heightened geopolitical risks in the Middle East have led to cautious sentiments among traders. He said Brent crude prices stayed elevated as the Iranian parliament approved a measure to close the Strait of Hormuz, which will disrupt oil supplies from the Middle East if the closure actually happens, but ultimately, the decision will come down to Iran's top leaders. At the time of writing, the Brent crude oil price rose 0.77 per cent to US$77.48 per barrel. "Immediately, traders and investors are observing the dynamics of the Israel-Iran standoff and whether it would escalate into a new trajectory," he told Bernama. At the close, the ringgit traded mostly lower against a basket of major currencies.
Barnama
08-06-2025
- Business
- Barnama
Halal Industry Among Key Growth Drivers In IMT-GT, BIMP-EAGA
By Engku Shariful Azni Engku Ab Latif and Nur Athirah Mohd Shaharuddin KUALA LUMPUR, June 8 (Bernama) – The rapidly-growing halal industry is among nine sectors that can trigger high economic growth in the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) and the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA). The other key sectors include sustainable agriculture and agribusiness; tourism; green and renewable energy (RE); the digital economy; transport and logistics; palm oil and downstream industries; and Islamic finance, according to International Islamic University Malaysia (IIUM) associate professor of economics, Dr Muhammad Irwan Ariffin. The marine and fisheries industries are exclusive to the BIMP-EAGA sub-region, he noted. He said the halal industry in both IMT-GT and BIMP-EAGA sub-regions holds strong global demand for halal food, cosmetics, finance and tourism. "It shares Islamic values across Malaysia, Indonesia, Brunei, southern Thailand and Mindanao, making it a strategic goal to develop IMT-GT as a global halal hub," he told Bernama. Turning to the agricultural sector, Muhammad Irwan said the combination of vast arable land and a tropical climate drives strong demand for high-value crops, organic farming, agro-processing and agribusiness value chains, which are essential for supporting rural economies. As for the digital economy, he said increasing internet access in rural areas across the sub-regions has driven the growth of e-commerce, fintech and digital skills development, alongside plans for smart cities and cross-border digital corridors. "The sub-regions, which are known for their rich biodiversity, natural parks, and cultural heritage, are increasingly focusing on eco-tourism, halal tourism, and cross-border travel circuits, supported by strategic initiatives such as the Visit IMT-GT Year 2023–2025 campaign,' he continued. "In the Islamic finance sector, the large Muslim population and underserved rural communities present opportunities for inclusive growth through shariah-compliant financial services that support the development of small and medium enterprises (SMEs) across the regions."
