(Oct 14): The battle for control of the world’s largest zinc smelter faces a critical deadline that could mark the beginning of the end of a multi-billion dollar succession feud.

Deadline looms in bitter fight for control of metals empire

(Oct 14): Commodities prices steadied after China promised greater support for its stuttering economy.

Commodities steady as China pledges more support for growth

The Agriculture and Food Security Ministry (KPKM) guarantees that the rice supply in local markets will not be affected despite the flood situation in Kedah and Perlis, impacting approximately 6,000 hectares of the country's paddy production areas.

Agriculture Ministry assures country's rice supply is sufficient

Indonesia, Malaysia and the European Union will formulate a practical guide to EU deforestation rules (EUDR) for smallholders by November, an intergovernmental group representing palm oil producers said on Friday.

Malaysia, Indonesia and EU to work on guide for smallholders on EU deforestation rules 

Alumina futures in Shanghai spiked to a record as global supply disruptions and resilient Chinese demand continue to tighten the market of the main feedstock for aluminum smelters.
 
Alumina jumped 4.2% to close at 4,553 yuan (RM2,760) a tonne on the Shanghai Futures Exchange on Friday, the highest since the contract debuted in June 2023.

Alumina surges to record on supply disruptions and China demand

KUALA LUMPUR (Oct 11): BMI has cut its forecast for its key rice futures contracts, at an average price of US$14.85 per cwt (hundredweight) in 2025, following easing of rice exports by India — Malaysia’s top rice supplier.

BMI cuts rice futures forecast for 2025 after India eases export restrictions

Europe’s sugar companies are facing revenue pressures, after last year’s stellar performance, as increased supplies are pushing down prices and hurting their bottom line.
 
Suedzucker, the largest producer of the sweetener in Europe, saw an 81% drop in operating profit for its sugar unit in its first-half financial report, citing falling prices in the European Union (EU) and higher exports from the bloc to the world market.

Europe’s sugar companies see strong supplies eating into their profits 

A push into metals trading by several giants of the energy markets has spurred a hiring spree and driven up salaries, with some senior executives saying they’ve never seen such a frenzied competition.

Metal trader hiring frenzy sends bonuses soaring

The Ministry of Agriculture and Food Security will establish the separation of powers among relevant agencies, and introduce new regulations to strengthen the country's paddy and rice sector.

'Separation of powers' to bolster national rice production — Mat Sabu

BENGALURU (Oct 9): Copper prices in Shanghai dropped for a second straight session on Wednesday, pressured by doubts over economic recovery in top metals consumer China.

Shanghai copper dips for second session as China’s stimulus plan disappoints

China’s largest stimulus package in years has given commodities a shot in the arm. The reopening of mainland markets on Tuesday will provide a sense of whether the rally has room to run.

Metals markets eye China reopening for stimulus rally cues

Orange juice futures rose as Hurricane Milton approaches Florida, prompting evacuations and putting orange growers on alert.

Futures in New York gained as much as 3% in New York as the hurricane rapidly intensified in strength over the last 24 hours.

Orange juice futures rise as Hurricane Milton nears landfall

Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher on Monday, bolstered by strength in the crude oil market amid escalating tensions in the Middle East, said palm oil trader David Ng.

CPO futures close higher amid Middle East tensions, crude oil rally

Spanish olive oil production is set to jump by almost half this season, easing a supply squeeze that pushed up prices following two poor harvests.

Olive oil crisis eases as top producer sees harvest surge

Oil extended losses after a report that Israel may avoid targeting Iran’s crude infrastructure eased concerns over tensions in the Middle East.

Oil prices extend losses on report Israel won’t target Iranian crude infrastructure

A brief recap of some business news and corporate announcements that made the headlines on Monday.

Genting Malaysia, Mr DIY, Capital A, AirAsia X, Sungei Bagan, Kuchai, Ho Hup, Ecobuilt, Critical Holdings, IJM, Fajarbaru, BCB, Pan Malaysia, Tanco

The private sector plays a crucial role in the transition towards a low-carbon economy, said Deputy Prime Minister and Minister of Energy Transition and Water Transformation Datuk Seri Fadillah Yusof at The Edge Malaysia ESG Awards 2024.

Vitrox, BIMB Investment Management biggest winners at The Edge Malaysia ESG Awards 2024

Construction outfit Vizione Holdings Bhd (KL:VIZIONE) said the group is being sued for RM3.3 million by a firm for alleged breach of a consultancy agreement signed in 2018 relating to a land sale.

Vizione sued over consultancy agreement dispute

Indonesia's incoming president, Prabowo Subianto, has asked current finance minister Sri Mulyani Indrawati to remain in her post under his presidency, with a focus on strengthening state finances, the minister said on Monday.

Indonesia's Prabowo asks Sri Mulyani to remain as finance minister

Property developer Kuchai Development Bhd (KL:KUCHAI) announced that it has become a cash company following the completion of its disposal of assets and liabilities to Sungei Bagan Rubber Company (M) Bhd (KL:SBAGAN).

Kuchai turns cash company after completing disposal of assets and liabilities to Sungei Bagan 

The S&P 500 and Nasdaq rose on Monday, with the benchmark index touching an intraday record high as investors geared up for a week packed with corporate earnings and crucial economic data that will likely test stretched stock market valuations.

S&P 500 hits record high on chip stocks; corporate results, key data in focus

Fajarbaru Builder Group Bhd (KL:FAJAR) said on Monday that it will pay Penang Development Corp (PDC) RM111.45 million to undertake a joint development of a medical city and mixed development hub in Bandar Cassia, Batu Kawan.

Fajarbaru buys Batu Kawan land for RM111m for healthcare hub project

The Investment, Trade and Industry Ministry (Miti) and the Malaysian Investment Development Authority (Mida) are supervising investments of RM17.9 billion from China approved in the manufacturing sector from 2023 to the first half of 2024.

Miti: RM17.9b investments from China approved from 2023 till 1H2024 

Malaysia recorded a total of 16.45 million international tourist arrivals as of August 2024, achieving over 60% of its full-year target of 27.3 million international tourists.

Malaysia sees 16.45 mil foreign tourist arrivals as of August — Tiong

Mr DIY Group (M) Bhd's (KL:MRDIY) largest shareholder, Bee Family Ltd, offloaded 71.7 million shares, representing a 0.76% stake in the home improvement retailer, for a total of RM149.37 million.

Bee Family offloads 71.7 mil shares in Mr DIY for RM149.37m 

A brief recap of some business news and corporate announcements that made the headlines on Monday.

Ho Hup Construction Company Bhd (KL:HOHUP) announced that its 52.5% indirect subsidiary, Golden Wave Sdn Bhd (GWSB), has been served with a winding-up petition by Eko Bina Sdn Bhd over a payment dispute tied to a serviced apartment and retail units project in Kota Kinabalu, Sabah.

Ho Hup’s 52.5% indirect unit served with winding-up petition over payment dispute

Hibiscus Petroleum Bhd (KL:HIBISCS) has completed its acquisition of TotalEnergies EP (Brunei) BV, marking its venture into Brunei’s gas sector.

Hibiscus expands into Brunei's gas field after completing US$259m acquisition of TotalEnergies Brunei

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

Fajarbaru Builder Group Bhd (KL:FAJAR) said on Monday that it will pay Penang Development Corp (PDC) RM111.45 million to undertake a joint development of a medical city and mixed development hub in Bandar Cassia, Batu Kawan.

Property developer Kuchai Development Bhd (KL:KUCHAI) announced that it has become a cash company following the completion of its disposal of assets and liabilities to Sungei Bagan Rubber Company (M) Bhd (KL:SBAGAN).

Digital health firm UCrest Bhd (KL:UCREST) said it has entered into a deal to provide artificial intelligence (AI)-powered digital transformation for a Singapore-listed healthcare group.

UCrest enters deal to provide AI-powered digital transformation for Singapore healthcare group

ACE Market-listed Critical Holdings Bhd (KL:CHB) said it has bagged a RM62.5 million contract from IJM Corp Bhd (KL:IJM) to provide mechanical and electrical services&nbsp; for a semiconductor plant in mainland Penang.

Critical Holdings secures mechanical and electrical services job from IJM unit

Construction outfit Vizione Holdings Bhd (KL:VIZIONE) said the group is being sued for RM3.3 million by a firm for alleged breach of a consultancy agreement signed in 2018 relating to a land sale.

The S&amp;P 500 and Nasdaq rose on Monday, with the benchmark index touching an intraday record high as investors geared up for a week packed with corporate earnings and crucial economic data that will likely test stretched stock market valuations.

The private sector plays a crucial role in the transition towards a low-carbon economy, said Deputy Prime Minister and Minister of Energy Transition and Water Transformation Datuk Seri Fadillah Yusof at The Edge Malaysia ESG Awards 2024.

Despite the strong economic headlines, most small and medium enterprises (SMEs) are still experiencing margin compression and are struggling due to a mix of digital disruption, labour shortages, and rising compliance costs.

Samenta: SMEs continue to experience margin compression

Fertiliser manufacturer Cropmate Bhd has inked an underwriting agreement with Hong Leong Investment Bank Bhd (HLIB) in conjunction with its initial public offering (IPO) on the ACE Market of Bursa Malaysia.

Cropmate taps Hong Leong Investment Bank to underwrite ACE Market debut

Sungei Bagan Rubber Co (Malaya) Bhd (KL:SBAGAN) has proposed a dividend of eight sen per share for the financial year ended June 30, 2024 (FY2024).

Sungei Bagan proposes eight sen dividend for FY2024

Property developer Tanco Holdings Bhd (KL:TANCO) said it is forming an 80:20 joint venture&nbsp; with Menteri Besar Negeri Sembilan (Inc) (MBINS) to develop an industrial park in Port Dickson.

Tanco partners with Negeri Sembilan state-owned firm to develop industrial park

The Melaka state government is committed to positioning the state as a leading hub for electric vehicle (EV) production in Malaysia, in line with Sustainable Development Goal 13 (SDG13), which emphasises urgent action to combat climate change and its impacts.

Chief minister: Melaka poised to become EV manufacturing hub

Emirates, the world’s largest international airline and a major buyer of Boeing Co widebody aircraft, said it will have “serious conversations” with the US planemaker in coming months following an announcement that the 777X model will be delayed yet again.

Emirates blasts Boeing for delays, plans ‘serious conversations’

The Investment, Trade and Industry Ministry (Miti) and the Malaysian Investment Development Authority (Mida) are supervising investments of RM17.9 billion from China approved in the manufacturing sector from 2023 to the first half of 2024.

Opec trimmed its forecasts for oil demand growth this year and next for a third consecutive month as the group belatedly recognises a slowdown in global fuel use.

Global oil consumption will increase by 1.9 million barrels a day — roughly 2% — in 2024, or 106,000 barrels a day less than previously forecast, the Organization of Petroleum Exporting Countries (Opec) said in its monthly report.

Commodities

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