Latest news with #KualaLumpur-based
Business Recorder
2 days ago
- Business
- Business Recorder
Palm ends lower on weak Dalian palm oil, crude
JAKARTA: Malaysian palm oil futures closed lower on Monday, paring the previous session's gains, as weakness in Dalian palm oil and crude oil prices weighed on sentiment. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange lost 24 ringgit, or 0.6%, to 3,987 ringgit ($947.48) a metric ton when the market close. 'The futures is tracking external Dalian palm oil and crude oil performance while waiting for new lead,' a Kuala Lumpur-based trader said. Dalian's most active soyoil contract fell 0.22%, while its palm oil contract dropped 0.43%. Soyoil prices on the Chicago Board of Trade (CBOT) rose 0.61%. Palm oil tracks the price movements of rival edible oils as it competes for a share of the global vegetable oils market. Oil prices held steady on Monday as Middle East risks eased, while a possible OPEC+ output increase in August and uncertainty over the global demand outlook weighed on the market. Palm rises on expectations of lower output, strong demand Weaker crude oil futures make palm a less attractive option for biodiesel feedstock. Exports of Malaysian palm oil products for June rose 4.3% compared to May, according to independent inspection company AmSpec Agri Malaysia, while according to ITS it rose 4.7%. Malaysia has lowered its July crude palm oil reference price, a change that reduces the export duty to 8.5% from 9.5% in June, a circular on the Malaysian Palm Oil Board website showed. The ringgit, palm's currency of trade, strengthened 0.38% against the dollar, making the commodity more expensive for buyers holding foreign currencies.
New Straits Times
3 days ago
- Business
- New Straits Times
Palm slips on weak Dalian palm oil, crude
JAKARTA: Malaysian palm oil futures traded lower on Monday, paring the previous session's gains, as weakness in Dalian palm oil and crude oil prices weighed on sentiment. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange lost RM44, or one per cent, to RM3,967 (US$941.39) a metric tonne by the midday break. "The futures is tracking external Dalian palm oil and crude oil performance while waiting for new lead," a Kuala Lumpur-based trader said. Dalian's most active soyoil contract fell 0.32 per cent, while its palm oil contract dropped 0.69 per cent. Soyoil prices on the Chicago Board of Trade (CBOT) rose 0.42 per cent. Palm oil tracks the price movements of rival edible oils as it competes for a share of the global vegetable oils market. Oil prices fell on Monday as an easing of geopolitical risks in the Middle East and the prospect of another OPEC+ output hike in August improved supply expectations amid persistent uncertainty over the outlook for global demand. Weaker crude oil futures make palm a less attractive option for biodiesel feedstock. The RM, palm's currency of trade, strengthened 0.28 per cent against the US dollar, making the commodity more expensive for buyers holding foreign currencies. Cargo surveyors estimated exports of Malaysian palm oil products for June 1–25 to have risen between 6.6 per cent and 6.8 per cent month-on-month. Malaysia has lowered its July crude palm oil reference price, a change that reduces the export duty to 8.5 per cent from 9.5 per cent in June, a circular on the Malaysian Palm Oil Board website showed. Palm oil may break resistance at RM4,017 per metric tonne and rise toward the RM4,049–RM4,066 range, Reuters technical analyst Wang Tao said.
Daily Express
3 days ago
- General
- Daily Express
Stop taking Kinabalu for granted: Climber
Published on: Monday, June 30, 2025 Published on: Mon, Jun 30, 2025 By: Sherell Jeffrey Text Size: Aina and her sister (right) with the rescue team. Kota Kinabalu: An experienced hiker said it is not surprising to read about climbers suffering injuries while tackling Mount Kinabalu as they probably take Malaysia's highest peak for granted. She shared her recent experience of being rescued, in the hope it might inform and inspire others planning theirs. What began as a family adventure to conquer the 4,095-meter summit turned into a humbling lesson about nature's power for 28-year-old Aina Farid who ended up being carried down on the back of a rescuer. The Kuala Lumpur-based PR consultant, said her experience revealed both the mountain's unforgiving terrain and the exceptional response capabilities of Sabah's emergency teams. Subscribe or LOG IN to access this article. Support Independant Journalism Subscribe to Daily Express Malaysia Access to DE E-Paper Access to DE E-Paper Exclusive News Exclusive News Invites to special events Invites to special events Giveaways & Rewards 1-Year Most Popular (Income Tax Deductible) Explore Plans Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Business Times
6 days ago
- Business
- Business Times
Another private member's club expands: Mandala Club invests S$2m to grow square footage by almost 50%
[SINGAPORE] Private members' club, Mandala Club, has taken over a building next door on Bukit Pasoh Road and will spend S$2 million to expand its floor space by almost 50 per cent. Slated to open in the fourth quarter of this year, the 9,000-square foot, four-storey property will be connected internally to the club's current clubhouse, which occupies four shophouses. Mandala Club's current clubhouse (right) and its upcoming extension next door. PHOTO: CORINNE KERK The extension will feature a ballroom to host up to 250 people, an all-day dining restaurant called Popi's Penthouse, and other facilities. The building formerly housed a clan association and the Singapore First Aid Training Centre. Mandala Club is also building a beach front property in Bali, which is slated to open some time this year. The Indonesian venue will have a 35-key hotel component. The club's expansion follows The Business Times' report last week of 67 Pall Mall's plans to open next year in Shanghai, its first Chinese outpost, as well as the collapse of another private members' club, 1880. Ben Jones, chief executive and founder of The Mandala Group told BT: 'The expansion has been in the works since late last year, and was driven by both momentum and necessity. A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up 'Our membership has grown steadily, and with it, the appetite for deeper, more diverse experiences. We reached a natural inflection point where the physical footprint of the club needed to grow in order to support the scale of our community and our programming ambitions.' Mandala Club's current clubhouse spreads across four floors and includes a gym, three restaurants, three bars, a cigar lounge, wine cellar, entertainment and music hub, co-working spaces and event spaces. Mandala Club's current clubhouse on Bukit Pasoh Road. PHOTO: MANDALA CLUB Its expansion follows the club's entry into the ICON1C Group, which has given it 'access to deeper resources'. The ICON1C Group is a luxury hospitality collective co-founded with tech entrepreneur Patrick Grove's Kuala Lumpur-based Internet company, Catcha Group. 'As part of ICON1C, we've been able to make a confident, long-term investment into our flagship location,' says Jones, adding the club's being part of ICON1C sets the foundation for the future. The other brand under ICON1C Group is Amber Lounge, which is known for holding after-parties that follow Formula 1 Grand Prix races. The expansion of both Mandala Club and 67 Pall Mall – a private club focused on fine wines – follow the sudden closure of 1880 on Jun 17, with its holding and operating companies placed under provisional liquidation. 1880, which had a 22,000-square-foot space in Robertson Quay, also abruptly closed its Hong Kong branch on May 30 – just seven months after opening in the territory.
Business Recorder
6 days ago
- Business
- Business Recorder
Malaysian palm oil rises on lower output
KUALA LUMPUR: Malaysian palm oil futures ended six weeks of gains with a weekly decline, despite closing higher on Thursday as expectations of lower output and strong demand from key destinations supported the market. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange gained 47 ringgit, or 1.19%, to 4,012 ringgit ($949.36) a metric ton at the close. The contract fell 2.57% this week. The Bursa Malaysia Derivatives Exchange palm oil contract will be closed on Friday for a public holiday. Crude palm oil futures traded higher on the expectation that production and export would remain bullish in the coming weeks, said David Ng, a proprietary trader at Kuala Lumpur-based trading firm Iceberg X Sdn Bhd. 'We see production pace slowing down and robust demand going forward,' he added. The Malaysian Palm Oil Board is expected to release its June supply and demand data on July 10. Dalian's most-active soyoil contract rose 0.58%, while its palm oil contract added 0.43%. Soyoil prices on the Chicago Board of Trade were down 0.06%. Palm oil tracks the price movements of rival edible oils, as it competes for a share of the global vegetable oils market. Oil prices were steady after erasing earlier gains as investors remained cautious about the Iran-Israel ceasefire, while also shifting focus to market fundamentals. Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. The ringgit, palm's currency of trade, strengthened 0.21% against the dollar, making the commodity more expensive for buyers holding foreign currencies.
