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Daily Express
10 hours ago
- Daily Express
MACC remands 4 in Sabah over false claims worth RM5 million
Published on: Wednesday, July 02, 2025 Published on: Wed, Jul 02, 2025 By: FMT Reporters Text Size: Magistrate Dzul Elmy Yunus issued a four-day remand order until July 5 for three men and a woman following an application by MACC in Kota Kinabalu yesterday. PETALING JAYA: The Malaysian Anti-Corruption Commission (MACC) has remanded four people, including two company owners, on suspicion of submitting false claims to procure work permit printing services worth around RM5 million. Magistrate Dzul Elmy Yunus issued a four-day remand order until July 5 for three men and a woman following an application by MACC in Kota Kinabalu yesterday. Kosmo quoted a source as saying that the suspects, in their 40s and 50s, were arrested between 6pm and 7pm on June 30 when they went to give their statements at the Sabah MACC office. 'All four suspects, two of whom are a former administrator and assistant administrator of a local oil company, are believed to have committed the offences from 2019 to 2023. 'The two suspects are believed to have conspired with the other two, both company owners, to submit false claims to procure permit printing services worth around RM5 million,' said the source. The suspects were arrested in Op Effingo, an operation by MACC's special operations division. On June 30, the division raided 10 locations around Kota Kinabalu and the Klang Valley, including several companies and the suspects' residences and offices. 'MACC seized 22 bank accounts, including an Amanah Saham Bumiputera account with about RM2 million, and around RM14,000 in foreign currencies. 'MACC also seized three luxury vehicles worth RM1.3 million and three mobile phones,' said the source. Zamri Zainul Abidin, senior director of MACC's special operations division, confirmed the arrests. He said the suspects would be charged under Section 18 of the MACC Act 2009, which relates to false claims, and with other offences under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
New Straits Times
3 days ago
- Business
- New Straits Times
Top Glove outlook remains weak as industry challenges persist: analysts
KUALA LUMPUR: Top Glove Corp Bhd's earnings outlook is likely to remain under pressure, with industry challenges expected to persist into the second half of 2025 (2H25), analysts said. RHB Research said Top Glove Corp reported third quarter (Q3) financial year 2025 (FY25) core loss of RM2.3 million, bringing 9MFY25 core loss to RM0.9 million. The firm said that results were below its expectation due to the challenging cost pass-through despite a sequential improvement in volume sold. "We expect industry headwinds to persist into 2H25 due to a higher operating cost environment and intensified competition," it said in a note. On the same note, Public Investment Bank Bhd (PublicInvest) remains cautious on Top Glove's operating landscape, weighed down by persistent pricing pressure and a sluggish demand recovery. The firm noted that the stable-to-declining trend in raw material prices is expected to further cap any upward adjustment to average selling price (ASPs). "At this juncture, earnings visibility remains weak due to tariff uncertainty and an imbalance demand-supply dynamic," it said. Meanwhile, Hong Leong Investment Bank Bhd (HLIB) expects Top Glove to register a flattish quarter on quarter (QoQ) results in Q4 FY25. Looking ahead, HLIB said the sector remains clouded by heightened uncertainty around the supply- demand dynamics heading into 2026 and beyond, worsened with elevating operating costs. "Given upbeat results, we revise our FY25 from a loss of RM1.3 million to a profit of RM21.3 million. "However, we cut our FY26 to FY27 by 4 per cent/ 31 per cent following lower ASP assumptions to reflect the weakening outlook. HLIB has maintained its 'Sell' recommendation and lowered its target price to 60 sen.
The Sun
5 days ago
- Business
- The Sun
Malaysia boosts local fruit campaign to support farmers, reduce imports
JOHOR BAHRU: The government is ramping up efforts to promote local fruits through the 'Eat Local Fruits' campaign, aiming to reduce dependency on imports and bolster farmers' incomes nationwide. Agriculture and Food Safety Minister Datuk Seri Mohamad Sabu announced the initiative during the launch of the 2025 Malaysian Pineapple Day here today. Mohamad urged all federal and state agencies to serve local fruits at official functions as part of the campaign. 'We want to prioritise local produce and support our farmers,' he said. The campaign will officially kick off in Tawau, Sabah, on July 5 before expanding to other states. Local fruits such as pineapples, durians, jackfruit, and avocados are highlighted for their strong domestic and export potential. The move follows Prime Minister Datuk Seri Anwar Ibrahim's recent directive for government departments to stop using imported goods, especially food, at official events. Mohamad emphasised that the policy not only aids economic growth but also opens market opportunities for local farmers. He praised the Malaysian Pineapple Industry Board (LPNM) for driving pineapple production beyond RM1 billion. 'Our pineapple supply meets domestic demand, and surplus production will focus on exports,' he added. A new pineapple variety, Sarawak Gold 1 (SG-1), developed by the Sarawak government, was also commended for its high yield and disease resistance. Over one million SG-1 seedlings have been introduced to Peninsular Malaysia for cultivation. As of last year, Malaysia's pineapple cultivation spanned nearly 19,000 hectares, with 13,000 hectares being productive. Production reached 520,000 metric tonnes, valued at RM1.3 billion, marking a 17 per cent increase in volume and a 34 per cent rise in value compared to 2023. The sector now supports over 8,000 growers and 308 companies, with pineapple farmers earning an average of nearly RM9,000 monthly.
The Star
5 days ago
- Politics
- The Star
Myanmar battles to replace poppy cultivation with cash crops
FILE PHOTO: This photo taken on February 26, 2024 shows displaced residents working in the illegal poppy fields for their livelihood during the fighting between Myanmar' military and Karenni Nationalities Defence Force at Moe Bye in Pekon Township, on the border of Karen State and southern Shan State. - AFP PHNOM PENH: The ongoing armed conflict is hindering Myanmar's efforts to eliminate poppy cultivation and combat drug trafficking, posing a threat to national security. The prevailing political instability, due to conflict between the military and armed militias, and rising economic hardships, are pushing farmers in remote mountainous regions to cultivate poppies. "Growing poppy and heroin production were a major issue for Myanmar in the past," said Home Affairs Minister Lt-Gen Tun Tun Naung, as reported in the state media, The Global New Light of Myanmar. Currently, the country has been facing challenges of synthetic drug production, trafficking and trading similar to other countries across the world. "On the other hand, the number of sown acres of poppies rises again in the areas controlled by ethnic armed groups,' said Tun Tun Naung. Myanmar is working to introduce alternative crops, such as coffee and tea, along with livestock projects, to replace poppy cultivation among farmers. During the 2024-25 poppy cultivation season, security forces destroyed nearly 1,900 hectares (4,734.5 acres) of poppy plantations. In conjunction with the 2025 International Day Against Drug Abuse and Illicit Trafficking on Thursday (June 26), Myanmar authorities destroyed 66 kinds of drugs and precursor chemicals, including heroin, opium, methamphetamine, cannabis and ketamine worth RM1.3 billion (US$297 million) in Yangon, Mandalay, Taunggyi and Sagaing, said the state media. In a lengthy article published in the state media on Thursday, the occasion of the global anti-drug campaign, Tun Tun Naung revealed the monumental task his government faces in eradicating the social scourge. The complex nexus of production and distribution of narcotics, supported by cross-border networks, makes it difficult to contain the illicit flow of drugs. "Although precursor chemicals and related accessories used in drug production cannot be produced in Myanmar, they can enter Myanmar easily and illegally through the border regions. "As the majority of produced drugs are trafficked to regional countries and highly demanded countries through border regions, Myanmar is facing challenges in conducting prevention and suppression against drug trafficking,' said Tun Tun Naung. On the same day, an advertorial in the state media highlighted the seriousness of the proliferation of narcotics and their impact on Myanmar's society. "Myanmar is grappling with serious challenges related to poppy cultivation, synthetic drug production and widespread drug abuse. But local authorities and law enforcement bodies are carrying out the eradication of narcotic drugs through collaborative efforts as much as possible,' said the editorial. The United Nations Office on Drugs and Crime (UNODC) 2023 opium survey in Myanmar revealed the grave problem of the opium economy, fuelled by conflict and rural poverty. According to UNODC, on average, farmers could easily earn RM1,184 (US$280) per kilogramme of opium in 2022, even as supply was abundant. "The attractiveness of opium as a crop and commodity, and strong expanding demand, as the Golden Triangle opium and heroin trade appears to be reconnecting to the global market. Farmers earned more than twice as much from opium as in the previous year (2022),' said the agency's report. - Bernama
Straits Times
5 days ago
- Business
- Straits Times
Malaysia's pineapple industry reaches billion-ringgit milestone
Malaysia has more than 8,000 pineapple growers and over 300 companies involved in the sector. PHOTO ILLUSTRATION: PEXELS JOHOR BAHRU - Malaysia's pineapple industry has become a billion-ringgit sector, with farmers earning up to RM9,000 (S$2,710) a month, marking a significant milestone in the country's agri-food success story. Agriculture and Food Security Minister Datuk Seri Mohamad Sabu announced that the nation recorded RM1.3 billion in pineapple output value in 2024, reflecting a 34 per cent increase from the previous year. He noted that the country's pineapple production volume rose 17 per cent to 520,000 metric tonnes, cultivated across 13,000 hectare of productive farmland. 'This shows that pineapples are not just a fruit we enjoy, but a true engine of rural economic development,' he said in his speech at the inaugural Malaysian Pineapple Day celebration held at a shopping mall on June 27. He added that Malaysia now has more than 8,000 pineapple growers and over 300 companies involved in the sector, ranging from small to large-scale operations. He stated that the self-sufficiency level for pineapples has reached 103 per cent, allowing Malaysia to meet its domestic demand and expand its export potential. He highlighted the case of a Johor farmer who doubled his income from RM180,000 to RM350,000 annually by integrating drone technology into his operations. In Pahang, the Hijrah Asnaf Pineapple Farming programme has helped 18 participants, mainly from underprivileged groups, earn monthly incomes of up to RM5,000 after just a few months of cultivation. 'The Federal Government has allocated RM75 million for pineapple development in Sarawak under the 12th Malaysia Plan (RMK-12). Farmers in Ulu Moyan three are already producing 50 tonnes of pineapples monthly and have set up their own processing facilities,' he added. He also commended Sarawak's innovation in using pineapple waste as livestock feed and the launch of the new Sarawak Gold (SG1) variety as an alternative to the MD2 premium hybrid. 'This shows a strong commitment from the Sarawak government to turn pineapple into a strategic commodity while supporting green economy principles,' he said. In Kedah, artificial intelligence and satellite imaging are being used to monitor crops, boosting yield by 30 per cent while reducing operational costs by 40 per cent. He said these advances in technologies are helping prepare Malaysia to meet growing demand from foreign markets like China and Singapore. 'Under the upcoming 13th Malaysia Plan, the ministry aims to expand cultivated land to 30,000 hectares, increase production to 1 million metric tonnes, and double pineapple exports from 2,300 to 4,000 containers annually,' he added. Mohamad also noted that Johor remains the top pineapple-producing state in the country, contributing 68 per cent of total cultivated land, thanks to strong collaboration with the state government. He urged more states, private firms, and individuals to participate in the pineapple sector, highlighting that the crop is now both a national asset and a symbol of rural transformation. THE STAR/ ASIAN NEWS NETWORK Join ST's Telegram channel and get the latest breaking news delivered to you.
