Latest news with #300
Barnama
3 hours ago
- Business
- Barnama
CPO Futures Close Higher, Tracking Stronger Soybean Oil
CPO Futures Close Higher, Tracking Stronger Soybean Oil By Engku Shariful Azni Engku Ab Latif KUALA LUMPUR, July 22 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher on Tuesday, tracking rising soybean oil futures on the Chicago Board of Trade (CBOT) and the crude degummed soybean oil (CDSBO) market in South America overnight. Sunvin Group head of commodity research, Anilkumar Bagani, said the rapeseed oil futures traded on the Zhengzhou Commodity Exchange (ZCE) and a stronger ringgit against the US dollar capped the gains in palm oil. 'According to The Malaysian Palm Oil Council (MPOC), palm oil prices are expected to trade between RM4,100 to RM4,300 per tonne over the next month. The projection was driven by a strong soybean oil market and festive demand from India,' he told Bernama. Palm oil trader David Ng said the commodity's prices were boosted by stronger soybean oil and Dalian palm olein prices. 'We see support at RM4,200 and resistance at RM4,400,' he added. At the close, the spot-month August contract gained RM22 to RM4,196 per tonne, the September 2025 contract added RM30 to RM4,246, and the October 2025 contract rose RM39 to RM4,264. The November 2025 contract advanced RM42 to RM4,271, December 2025 climbed RM43 to RM4,270, and January 2026 gained RM38 to RM4,262 per tonne. Trading volume eased to 75,575 lots from 75,830 on Monday, while open interest declined to 231,767 contracts from 235,195 previously. The physical CPO price for July South inched up by RM20 to RM4,220 per tonne. -- BERNAMA
The Star
4 hours ago
- Business
- The Star
Sarawak Plantation eyes long-term expansion
Phillip Capital Research maintains its projection of CPO growth to be at 15% y-o-y to 122,000 tonnes in 2025. PETALING JAYA: Phillip Capital Research is positive on Sarawak Plantation Bhd 's medium-to-long-term prospects, underpinned by improving yields, disciplined cost control and sustained replanting efforts that are beginning to bear fruit. 'We project the company's fresh fruit bunch (FFB) production to rise to 378,000 tonnes in 2025, an increase of 12% year-on-year (y-o-y), supported by improving yields as more palms enter their prime age and about 1,100 ha of newly matured areas come into production. 'Management remains confident in its growth outlook, targeting more than 420,000 tonnes by 2026 and more than 550,000 tonnes by 2029, underpinned by a more favourable age profile, better field practices and continued mechanisation gains,' the research house said. Replanting efforts over recent years are also starting to bear fruit through improved productivity. While the group has revised its 2025 FFB guidance to 380,000 tonnes (from 400,000 tonnes) due to wetter-than-expected conditions in the first quarter of financial year 2025 (1Q25), crude palm oil (CPO) output is expected to remain flat y-o-y, supported by steady external FFB volumes. 'We expect a sequential recovery in 2Q25, in line with seasonal trends (year-to-date May FFB stood at 131,000 tonnes, a 7.9% rise y-o-y). 'We maintain our projection of CPO growth to be at 15% y-o-y to 122,000 tonnes in 2025.' Overall, the CPO unit cost of own crops is expected to fall to RM2,400 to RM2,500 per tonne in 2025, from RM2,800 per tonne in 2024 and RM2,300 per tonne in 2026, supported by volume recovery and a higher internal FFB share. 'While the February 2025 minimum wage hike is expected to raise labour costs by 3% to 4%, field efficiencies and disciplined cost control are expected to preserve margins. Fertiliser cost pressure remains manageable, with mixed price trends across key input types,' the research house noted. Phillip Capital is maintaining its 'buy' rating with an unchanged target price of RM2.88, based on nine times 2026 earnings per share, in line with small-cap upstream peers. 'Key downside risks include lower-than-expected production and palm product prices, cost inflation and regulatory headwinds,' the research house added.
Daily Maverick
7 hours ago
- Business
- Daily Maverick
Why punish the children of 2025 for the apartheid sins of their parents?
Bidvest's recent handling of its bursary scheme deeply unsettles me. The company has a bursary programme for students from grades 4 to 12. The bursary covers school fees, stationery, school uniforms and assistance with extra classes. Full-time employees earning less than R15,300 per month before deductions may apply. However, the programme is only for black, coloured or Indian employees. White employees' children are explicitly excluded. It reminds me of the day I was chased out of the post office because the child in me was too naïve to see the 'whites only' notice. The door for coloured people was at the back. It also reminded me of the time when I had to wait for the train as a student at the University of the Western Cape, but couldn't sit on the bench that had the words 'for whites only' written on it. I vowed to myself that I would do everything in my power to prevent any child from being hurt like that again. If it hadn't been for a good Samaritan who took care of me when I was a poor student so that I could receive a bursary, I would not be in the position to write this article today. In its defence, Bidvest states that the trust was established in 2003 as part of a corporate social investment structure that formed part of a consortium for black economic empowerment. They further argue that in accordance with the principles and philosophy of the Broad-Based Black Economic Empowerment Act 53 of 2003, the trust was established with the sole purpose of uplifting historically disadvantaged individuals who are employees of the Bidvest Group. It has been in operation for 22 years and has been very successful in changing the lives of their employees and their families, states a release from the company's communications firm. With regards to the success of the programme, I will not argue, and I want to give Bidvest credit for the fact that 22 years ago it was indeed important to uplift historically disadvantaged black people. However, this is not what is being discussed here. On its website, the company states that they want to make a meaningful 'impact on society' in a way that is 'innovative' and that the company is 'influenced by the context within which it operates'. They want to do this in a 'unique and resilient' way within an adaptable structure. The board members of Bidvest will agree with me that the circumstances today look significantly different than 22 years ago. After 30 years of a democratic order, the playing field is completely different. Today you find poor children across a wide spectrum of South African society. It is no longer restricted to just black children. As vice-dean at the University of Stellenbosch's Faculty of Education, it was my task to administer bursaries. I am also involved in the Foundation for Empowerment through Afrikaans (Stigting vir Bemagtiging deur Afrikaans, SBA) Honours programme and Rapport's education bursary fund. Over the past 20 years I have seen how our financial landscape has changed. Poverty knows – unlike 22 years ago – no colour. Students who are dependent on bursaries have increased among all families. Therefore, no student should be disadvantaged. The only criterion should be whether the child qualifies for the bursary and whether or not their parents can afford their studies. Also, the context in which the company currently operates differs from when the bursary scheme was established. Today, all employees can progress to the boardroom. I would really like to know how Bidvest looks its staff in the eye knowing that the company has failed to help all the needy children. What impact does this have on healthy relationships in the boardroom when employees who earn the same do not receive equal treatment? I acknowledge the terms of the trust that was established 22 years ago, but surely a company that prides itself on being adaptable and innovative could have made a plan to start a new bursary scheme from which all its employees can benefit? Nelson Mandela once said: 'Education is the most powerful weapon which you can use to change the world.' These words of Madiba emphasise the transformative potential of education and highlight the critical role that education plays in promoting social, economic and political change. It is time for all of us – including Bidvest – to act on Madiba's words. Therefore, I could not remain silent when Bidvest ran a bursary programme 'only for black, coloured and Indian' children. It brings back all the pain and sorrow of the past. Children of 2025 had no part in South Africa's apartheid past. Why punish them for the sins of their forefathers? All children have dreams. All children are born in innocence. It is adults who raise children to be racists. After 30 years of democracy, it's time for us to banish words like whites, blacks, coloureds and Indians from our vocabulary. They do not belong in a democratic dispensation. According to their website, Bidvest deems all forms of discrimination based on race as illegal and they will not tolerate it. Furthermore, the company says: 'We do the right thing, even when no one else is looking.'
Barnama
13 hours ago
- Business
- Barnama
Palm Oil Exports Remain Elevated At 1.26 Million Tonnes In June
BUSINESS KUALA LUMPUR, July 22 (Bernama) -- Malaysia's palm oil exports in June 2025 remained higher year-on-year at 1.26 million tonnes, exceeding the 1.21 million tonnes in June 2024, said the Malaysian Palm Oil Council (MPOC). For the same month in 2022 and 2023, the palm oil exports stood at 1.19 million tonnes and 1.17 million tonnes respectively, it said in a statement today. 'In the first half of 2025, Kenya ranked as Malaysia's second-largest palm oil buyer, overtaking the EU27 countries by 21,000 tonnes and China by 117,000 tonnes. Kenya accounted for 30 per cent of Malaysia's total palm oil exports to Sub-Saharan Africa, with full-year imports from Malaysia projected to reach 1.3 million tonnes,' the council said. It added that Kenya remained a key growth market, driven by rising domestic consumption, with over 90 per cent of its palm oil imports used in food applications. Meanwhile, the MPOC said the palm oil inventories rose to an 18-month high of 2.03 million tonnes during the same month. Looking ahead, crude palm oil (CPO) prices are expected to stay firm, trading between RM4,100 and RM4,300 per tonne in the coming month, supported by festive demand from India and elevated US soybean oil prices. 'However, any rally in vegetable oil prices may be capped by abundant global oilseed supplies, particularly soybeans, as there is currently no shortage of oilseeds in the market,' it said. Meanwhile, it said global vegetable oil prices have rebounded from early-year losses, led by a 19 per cent surge in soybean oil since January. This outpaced gains in rapeseed oil (6.6 per cent) and palm oil (3.7 per cent), while sunflower oil rose a modest 1.7 per cent. 'Soybean oil remains the top-performing vegetable oil year-to-date, supported by the US biofuel policy announced in mid-June, which is expected to spur demand for domestically produced feedstocks. Strong soybean oil prices have improved the price competitiveness of palm oil,' the council said.
Barnama
13 hours ago
- Health
- Barnama
Perak DOSH Receives Over 500 Accident Reports
IPOH, July 22 (Bernama) -- The Perak Department of Occupational Safety and Health (DOSH) received a total of 536 reports of workplace accidents during the first six months of this year. Its deputy director, Basharuddin Abd Rahman said the reports involved 10 fatal cases, four cases of permanent disability, 510 cases of non-permanent disability, and 12 dangerous incidents reported during the period. He said initial investigations pointed to employers' failure to conduct risk assessments and implement effective control measures as the main contributing factors to accidents happening at the workplace. "For statistics on occupational diseases and poisoning, 376 cases were reported to the Perak DOSH during the same period. "Among the highest cases reported was hearing loss due to exposure to excessive and prolonged noise," he said during the Accident Prevention Seminar with the Perak Foundry & Engineering Industries Association (PFEIA) at the state level event in Meru Raya here today. Basharuddin said 32 cases had been prosecuted in court involving a total fine of RM449,300 for the first six months of this year. He said DOSH is always open to holding engagement sessions and dialogue with the state government, employers, workers, industry associations, and non-governmental organisations regarding occupational safety and health. He added that this is to strengthen the management of safety and health in the workplace and reduce the rate of accidents. Meanwhile, Perak DOSH Investigation and Prosecution Section head Ir Suhaidy Latip said unsafe behaviour leading to accidents in the foundry industry stem from not wearing personal protective equipment (PPE), using equipment incorrectly, violating procedures, fooling around at work, and operating machinery without authorisation.
