RHB Investment Bank Research has maintained “neutral” on the rubber products sector and said the recovery of the Malaysian rubber glove industry remains uneven, as indicated by April’s weak export data.

RHB expects global glove demand to contract by 5% y-o-y in 2023

NanoMalaysia Bhd (NMB), the agency of nanotechnology and advanced solution commercialisation under the Ministry of Science, Technology and Innovation, has signed a memorandum of understanding (MOU) with the Malaysian Rubber Council (MRC) to promote successful uptake and commercialisation of local intellectual properties (IPs) and products developed by Malaysian companies related to the rubber industry.

NanoMalaysia inks MOU with Malaysian Rubber Council to commercialise local IPs

Given the growth of Malaysia's rubber exports by 150% to RM44.43 billion in the first half of this year (1H21) from RM17.77 billion in the same corresponding period of 2020, the industry is projected to rebound for the full year of 2021.

Rubber exports expected to rebound in 2021 as double-digit growth in global demand continues

KUALA LUMPUR (Oct 7): Amid a fall in rubber prices to a low this year of RM5.16 a kg on Oct 4, the Malaysian Rubber Board (LGM) assured smallholders that their welfare will not be affected under the government’s Rubber Production Incentive (IPG). 

"The IPG will ensure that rubber prices received by smallholders, at estate level, are not affected by the decline in the world market," LGM said in a statement. "At the international level, Malaysia continues to cooperate with the major rubber producing countries, namely Thailand and Indonesia, under the framework of the International Tripartite Rubber Council (ITRC) to address the long-term decline in rubber prices through measures such as the Supply Management Scheme, the Demand Promotion Scheme and the Agreed Export Tonnage Scheme."

Amid rubber price decline, LGM says smallholders' welfare unaffected by govt incentive scheme

KUALA LUMPUR (Sept 4): The Malaysian Rubber Board (MRB) is expecting rubber prices to remain "relatively low" ahead of an expected oversupply until 2023.

"In general, rubber price (for grade MSR-20) will remain relatively low at about RM5-RM6 for the next one or two years," said MRB dir...

Malaysian Rubber Board expects prices to remain subdued

KUALA LUMPUR (Oct 31): Global rubber prices are not only impacted by demand and supply but other factors including the performance of futures markets and crude oil prices, said Deputy Plantation Industries and Commodities Minister Datuk Datu Nasrun Datu Mansur.

Currency exchange rates a...

Demand-supply not sole factor in determining global rubber price, says minister

KUALA LUMPUR (Sept 13): Rubber prices are likely to continue rising in the near term and may reach heights previously seen earlier this year, according to technical analysts.

"Current prices appear to be at the beginning of a bullish trend," said Jupiter Securities chief market strategi...

Rubber prices likely to remain bullish until 2018, say analysts

KUALA LUMPUR (June 14): The production of natural rubber (NR) increased 17.1% to 48,889 tonnes in April 2017, from 41,753 tonnes a year earlier.

On a monthly basis, however, it decreased 39.2% from 80,384 tonnes in March 2017.

In a statement today, the Statistics Department sa...

Malaysia's April rubber production up 17.1% on year

TOKYO (March 7): Benchmark Tokyo rubber futures dipped more than two percent on Tuesday, touching a one-week low, as weaker Shanghai futures dampened sentiment.

The Tokyo Commodity Exchange (TOCOM) rubber contract for August delivery finished 6.6 yen or 2.4% lower at 269.4 yen (US$2.37)...

TOCOM dips to 1-week low as weak Shanghai dampens sentiment

TOKYO (March 8): Benchmark Tokyo rubber futures slipped to the lowest in more than two months on Wednesday as Shanghai futures continued to decline amid concerns over rising inventories in the world's biggest rubber consumer.

"Tokyo rubber prices have apparently peaked out and are ...

TOCOM slips to 2-month low following Shanghai tumble

TOKYO (March 10): Benchmark Tokyo rubber futures snapped a 3-day losing streak on Friday after hitting a 2-1/2 month low earlier in the session, with investors looking for bargains and helped by a weaker yen, but it still booked a weekly loss amid falling Shanghai futures.

"Rubber ...

TOCOM snaps 3-day losing streak on lower yen; books weekly loss

TOKYO (March 13): Benchmark Tokyo rubber futures came of early falls to extend gains into a second session on Monday, as Shanghai futures recovered from a near four-month trough.

Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, recov...

TOCOM bounces back from early falls as Shanghai recovers

KUALA LUMPUR (April 19): RHB Retail Research said Inari Amertron Bhd is poised to challenge the RM3.27 resistance level once again, which would make this its fourth attempt this year.

In a trading stocks note on Friday, the research house said that the stock underwent a strong rebound a...

Inari poised to challenge RM3.27 resistance, says RHB Retail Research 

KUALA LUMPUR (April 19): RHB Retail Research said Muhibbah Engineering (M) Bhd may be headed for an uptrend after rebounding strongly from a recent pullback, and pushing past the 21-day simple moving average line.

In a trading stocks note on Friday, the research house said that if it br...

Muhibbah Engineering may be headed for an uptrend, says RHB Retail Research 

(April 19): The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a center for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere.

In state capi...

 Sarawak aiming to transform itself into a center for clean hydrogen energy

PIE Industrial Bhd, whose share price extended its rally to a new all-time high on Thursday on reports that it has secured a new customer, confirmed the matter and said it is expecting the new customer to contribute an additional RM2.5 billion revenue to the group, of which RM1 billion will be recognised as early as next year.

PIE Industrial confirms bagging new client, expects additional RM2.5 bil revenue

Cocoa futures hit a new high in New York — topping US$11,000 (RM52,624) a metric tonne — as the pace of processing in chocolate factories holds up even in the face of a global supply crunch and record prices.

Cocoa soars above US$11,000 a tonne as processing pace holds up

The amount of reserves in banking system — a key determinant for the Federal Reserve to continue shrinking its balance sheet — dropped by the most in two years as Americans paid income tax bills out of their bank accounts.

US bank reserve balances see largest drop since 2022 tax season

Netflix on Thursday unexpectedly announced that it will stop reporting subscriber numbers each quarter, a decision seen as a sign that years of customer gains in the streaming wars are coming to an end.

Netflix to stop reporting subscriber tally as streaming wars cool

Federal Reserve policymakers have coalesced around the idea of keeping borrowing costs where they are until perhaps well into the year, given slow and bumpy progress on inflation, and a still-strong US economy.

US Fed policymakers agree there's no urgency to cut rates

Donald Trump said on Thursday the survival of Ukraine is important to the US, a shift in tone days before the Republican-led US House of Representatives is due to vote on a US$61 billion (RM291.8 billion) aid package.

Donald Trump says Ukraine's survival is important to US

The Indonesian government is working with central bank governor Perry Warjiyo to cushion the country’s economy from the rise in the US dollar, according to its finance minister.

Indonesian finance chief aims to shield economy from dollar rise

KUALA LUMPUR (April 18): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Datuk Farhash Wafa Salvador, former political aide to Prime Minister Datuk Seri Anwar Ibrahim, has ceased to be a substantial shareholder of HeiT...

HeiTech Padu, Axiata, AmanahRaya REIT, AmFirst REIT, RHB Bank, 7-Eleven Malaysia, MBSB, Awantec, MAA Group, UMediC, Systech, Pansar, Auro, Kimlun and AWC

After spending over two years in court due to a suit from Empire Holdings Ltd, MAA Group Bhd, its major shareholder Tunku Datuk Yaacob Khyra and Turiya Bhd have been dropped as parties in the suit over MAA’s purchase of Turiya shares from a Bahrain-based bank. &nbsp;

MAA Group exits legal bout over 2021 Turiya share acquisition under settlement deal

High-impact projects such as the Johor-Singapore Special Economic Zone (JS-SEZ) and&nbsp;Special Financial Zone&nbsp;(SFZ) in Forest City can spur Johor’s economy to outpace that&nbsp;of other states in the next one to two years, said Prime Minister Datuk Seri Anwar Ibrahim.

Special economic, financial zones can help Johor surpass other states economically, says Anwar

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EVENING 5: Five things you need to know today

FE Green Pet (M) Sdn Bhd’s new high-tech recycling factory is expected to make Melaka a green investment destination and complement the economic growth strategy in the state, said Melaka Chief Minister Datuk Seri Ab Rauf Yusoh.

He said with an investment totalling approximately RM958 million, the plant on 14 hectares of land is projected to be completed by 2Q 2025, creating almost 500 jobs.

RM958 mil high-tech recycling factory puts Melaka on green investors map — Ab Rauf

Swiss state prosecutors are seeking long prison terms for two men accused of embezzling US$1.8 billion from 1Malaysia Development Bhd (1MDB) — Saudi-Swiss businessman Tarek Obaid and his Swiss-British business partner Patrick Mahony, the AFP reported.

Swiss prosecutors seek long jail terms for duo in US$1.8bil 1MDB fraud — report

The developer of the&nbsp;Petaling Jaya Dispersal Link (PJD Link) expressway will receive an official letter soon, notifying it of the cancellation of the construction project.

PJD Link developer to get official letter soon on cancellation, says Nanta

The allocations that the government has agreed to consider extending to elected representatives from the opposition are subject to terms and conditions, said DAP Parliament chief whip Nga Kor Ming.

Nga: Proposed allocations for opposition reps conditional

KUALA LUMPUR (April 18): 7-Eleven Malaysia Holdings Bhd, known for its extensive network of convenience stores, declared on Thursday an interim dividend of 2.7 sen per share for its financial year ended Dec 31, 2023 (FY2023), after posting a record high net profit.

7-Eleven declares 2.7 sen dividend for FY2023

(April 18):&nbsp;The world of chocolate is facing such immense cocoa shortages that the wild trading lured an unlikely player&nbsp;—&nbsp;Pierre Andurand, a hedge-fund manager best known for his bets on oil.&nbsp;

Why the world of chocolate is in crisis

Kimlun Corporation Bhd has bagged a construction contract worth RM150 million for a serviced apartment development project in Johor Bahru.

In a bourse filing on Thursday, Kimlun said its wholly-owned subsidiary Kimlun Sdn Bhd received the award as the main contractor for the Aliva Mount Austin residential project from Astaka Development Sdn Bhd, a subsidiary of Singapore-listed Astaka Holdings Limited.

Kimlun bags RM150 mil contract for residential construction project in Johor

The Penang government will wait&nbsp;for&nbsp;recommendations from the&nbsp;undersea tunnel project&nbsp;steering committee before making any decision&nbsp;regarding the implementation of the project, said&nbsp;Chief Minister&nbsp;Chow Kon Yeow.

Undersea tunnel: Penang to wait for steering committee's recommendations, says Chow

More than a year after it diversified into the sand dredging business, timber products manufacturer Auro Holdings Bhd (formerly known as NWP Holdings Bhd) is proposing to venture into the food and beverage (F&amp;B) business.

The proposed diversification is aimed at expanding its revenue stream and reducing its reliance on the wood-based and sand mining industries, said the loss-making company in a bourse filing on Thursday. &nbsp;

Auro forays into F&B business to cut dependence on wood-based and sand mining industries

NEW YORK (April 19): US stocks vacillated on Thursday, swinging from red to green and back as investors contended with the push-pull of a strong economy and restrictive Federal Reserve policy.

Benchmark Treasury yields resumed their climb and gold added strength as ongoing turmoil in th...

Wall Street closes lower; gold climbs amid economic, geopolitical crosswinds

With 94% of Malaysian companies gearing up for an artificial intelligence (AI) driven future, National Technology and Innovation Sandbox (NTIS) together with NVIDIA has launched an AI pilot sandbox programme.

MOHE estimates 13,000 new AI talents by 2026

Indonesia discouraged its state-owned enterprises from making huge dollar purchases, showing the all-hands-on-deck approach that the nation has taken to support the rupiah.

State-run firms with large import requirements or foreign currency-denominated debt must avoid buying large amounts of US dollars while the rupiah is under pressure, Coordinating Minister for Economic Affairs Airlangga Hartarto said in a briefing on Thursday.

Indonesia tells state firms to refrain from buying dollars

While most flights continued to be impacted&nbsp;following the volcanic eruption at Mount Ruang in North Sulawesi, Indonesia,&nbsp;low-cost carrier AirAsia&nbsp;reinstated several flights on Thursday.

AirAsia reinstates several flights on Thursday after Indonesia's volcanic eruption

Datuk Seri Dr Zambry Abdul Kadir, who co-chairs the Kuala Kubu Baharu by-election machinery&nbsp;coordination for the unity coalition, said its candidate would be deemed to represent the unity government rather than&nbsp;any particular party per se.

Kuala Kubu Baharu by-election: Candidate to represent unity govt rather than any particular party, says Zambry

The US on Thursday effectively stopped the United Nations from recognising a Palestinian state by casting a veto in the Security Council to deny the Palestinian Authority full membershipof the world body.

US stops UN from recognising a Palestinian state through membership

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower for the fifth consecutive day, said palm oil trader David Ng.

He said the weaker soybean oil market and lower crude oil prices continue to pile pressure on prices.

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