The growing demand for palm oil should silence the voices of anti-palm oil campaigners, who made allegations about palm oil having higher saturated levels of fatty acids and that it should not be used in the food system, said the former director-general of the Malaysian Palm Oil Board (MPOB) Tan Sri Yusof Basiron.

Growing demand for palm oil should silence campaigners against the commodity — Industry expert

Rice prices are on track for a new 15-year high, threatening to spark more angst in Asia and Africa where the grain is the staple for billions.

Thai white rice 5% broken — an Asian benchmark — has jumped by US$57 (RM265.59) over the past two weeks to US$640 a ton following a period of relative calm, putting prices just short of the highest level since October 2008.

Rice on cusp of fresh 15-year high in Asia after sharp rebound

SINGAPORE (Nov 29): Cambodia has abandoned plans to build a US$1.5 billion 700 megawatt (MW) coal-fired power project in a protected reserve along the southwestern coast and will build an 800 MW natural-gas fired plant instead, its energy minister told Reuters.

Cambodia scraps coal power project to build gas-fired plant, import LNG

KUALA LUMPUR (Nov 28): Malaysia recorded an agricommodity export value of RM117 billion up to Sept 30 this year, said Plantation and Commodities Minister Datuk Seri Fadillah Yusof.

Fadillah: Malaysia records agricommodity exports of RM117 bil up to September 2023

BMI, a Fitch Solutions company, has revised its 2024 average annual forecast for palm oil prices to RM3,515 per tonne, reflecting a 7.5% year-on-year (y-o-y) decline from this year's forecast.

Fitch unit revises average palm oil price forecast to RM3,515 per tonne for 2024

Malaysia has maintained its December export tax for crude palm oil at 8% and raised its reference price, a circular on the Malaysian Palm Oil Board website showed on Thursday.

Malaysia keeps December crude palm oil export duty at 8.0% 

HANOI (Nov 21): Copper prices rose to their highest in two months on Tuesday due to supply concerns in Peru and Panama, while a weaker US dollar also lent support.

Copper hits two-month high on supply concerns, soft dollar

Fitch Ratings expects average crude palm oil (CPO) prices to be significantly lower in 2024, based on expectations of a higher output of palm and other vegetable oils, due mainly to favourable weather conditions amidst a transition in global weather patterns.

Fitch sees significantly lower crude palm oil prices in 2024

The Ministry of Agriculture and Food Security will hold a discussion with other relevant ministries regarding the proposal to create a single grade for white rice, said Minister Datuk Seri Mohamad Sabu.

Mohamad Sabu to discuss proposal for single-grade white rice with other ministries

Indonesia plans to introduce nickel tracing, and push local producers to reach global mining standards, to help the country move closer to securing a critical minerals deal with the US.

Indonesia to trace nickel in bid for US critical minerals deal

IPOH (Nov 12): The government will study the proposal to raise the ceiling price of local white rice, said Agriculture and Food Security Minister Datuk Seri Mohamad Sabu.

Govt to study proposal to raise local white rice ceiling price — Mohamad Sabu

The multifold increase in the price of raw sugar since 2020 has caused the actual price of sugar to far exceed the ceiling price set by the government at RM2.85 per kilogramme.

Felda chairman says settlers will have to bear losses if sugar price remains low

MUMBAI (Nov 9): India's soymeal exports are likely to rise in coming months, as concerns over soybean output in top producer Brazil lifts global prices to two-month highs, prompting buyers to turn to the south Asian country, industry officials said.

India's soymeal exports seen picking up as global prices rally

TORONTO (Nov 8): A handful of Canadian, German and Australian critical mineral explorers plan to command premium prices for key metals used in electric vehicles, promising quality and consistency in exchange for shifting reliance away from China, the dominant producer and price-setter.

Western miners seek premium pricing for rare earth metals to break China grip

The Malaysian Communications and Multimedia Commission (MCMC) will provide a framework within a month to enable all social media platform providers to register with the agency and facilitate the regulating such platforms in the country.

Fahmi: MCMC working on framework to facilitate registration, regulation of social media platforms

Here is a brief recap of some corporate announcements that made the news on Friday involving Citaglobal Bhd, CelcomDigi Bhd, Maxis Bhd, Telekom Malaysia Bhd, YTL Power International Bhd, Axiata Group Bhd, Pansar Bhd, Apex Healthcare Bhd, Crest Builder Holdings Bhd and Sarawak Consolidated Industries Bhd.

Citaglobal, CelcomDigi, Maxis, TM, YTL Power, Axiata, Pansar, Apex Healthcare, Crest Builder, SCIB

The S&P 500 and Nasdaq fell on Friday as investors were on edge ahead of Federal Reserve chair Jerome Powell's comments that some fear may have a hawkish tilt towards monetary policy.

S&P, Nasdaq slip as caution prevails ahead of Powell comments

US-listed shares of Alibaba Group Holding declined on Friday following a Morgan Stanley downgrade on concerns over slower turnaround in its key businesses, hours after PDD raced past its rival to become the most valuable Chinese e-commerce firm.

Alibaba dips on Morgan Stanley downgrade as PDD grabs spot of most valuable Chinese e-commerce firm

Pavilion Real Estate Investment Trust (Pavilion REIT) has terminated two memoranda of understanding (MOUs) it inked for the purchase of renewable energy (RE) from a solar power plant in Pasir Mas, Kelantan, under the Corporate Green Power Programme (CGPP) to power its malls.

Pavilion REIT cancels MOUs to power Pavilion KL, Intermark and Pavilion Bukit Jalil with renewable energy

Shares of crypto miners and bitcoin-tracking companies climbed in premarket trading on Friday as the world's largest cryptocurrency extended a recent rally to touch a near 19-month high on improving risk appetite.

Bitcoin, up 2% at US$38,410, has been gaining since October on optimism that a potential approval of a spot exchange-traded fund is likely to unleash more capital investments in the digital asset sector.

Crypto stocks set to start December on a high note as bitcoin hits near 19-month high

In today’s edition of Evening 5 — Five telcos have finally inked deals with DNB, and will collectively own a 70% stake in the state-owned entity, while Putrajaya will retain 30% plus a golden share. Meanwhile, PM Datuk Seri Anwar Ibrahim says Digital ID concerns such as personal data leaks and chip implants are unfounded.

EVENING 5: Telcos finally ink DNB deal

A weekly round-up of tanker and dry bulk market (Dec 1, 2023)

Baltic Exchange shipping updates: Dec 1, 2023

Mining firm OM Holdings Ltd, which is dual-listed on Bursa Malaysia and the Australian Stock Exchange, has issued 27.63 million shares, representing a 3.75% stake, in the company to JFE Shoji Corp for A$13.04 million (about RM40.34 million) or A$0.472 sen per share.

Japan-based JFE Shoji takes up 3.75% stake in OM Holdings

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

EVENING 5: Five things you need to know today

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week.

Most read this week

A client of Malaysia’s biggest bank recently discovered that her bank balance had mysteriously increased to more than US$86 million (RM404 million).

Woman discovers over RM404m mistakenly deposited in Maybank account

Petroliam Nasional Bhd (Petronas) and its petroleum arrangement contractors have recorded 19 exploration discoveries and two exploration-appraisal successes, contributing over one billion barrels of oil equivalent (bboe) of new resources for Malaysia in 2023.

Petronas finds over 1 bil barrels of oil equivalent exploration discoveries in 2023

Digital Nasional Bhd (DNB) is to be 70%-owned by five local mobile network operators (MNOs), while the remaining 30% will be retained by Putrajaya, accompanied by a golden share, according to Communications and Digital Minister Fahmi Fadzil.

Five telcos to collectively own 70% stake in DNB; Putrajaya to retain 30% plus golden share

Apex Healthcare Bhd has proposed to acquire industrial land in Melaka for RM66.5 million, its Bursa Malaysia filing showed on Friday.

The group said its wholly owned subsidiary Xepa-Soul Pattinson (Malaysia) Sdn Bhd had entered into a sale and purchase agreement with Panasonic Appliances Refrigeration Devices Malaysia Sdn Bhd (PAPRDMY) for the proposed acquisition.

Apex Healthcare to acquire industrial land in Melaka for RM66.5 mil

Bursa Malaysia Securities Bhd has reprimanded Sarawak Consolidated Industries Bhd (SCIB) and two of its former directors, Datuk Mohd Abdul Karim Abdullah and Rosland Othman, for failing to submit the group’s 2021 annual report within the approved timeline.

Bursa reprimands SCIB, fines Abdul Karim and one other RM27,000 each for late submission of annual report

(Dec 1): President Vladimir Putin has ordered the transfer of all the rights to managing St&nbsp;Petersburg’s Pulkovo airport from foreign shareholders that include Germany’s Fraport AG and the Qatari wealth fund by shifting their stakes into a new Russian entity.

Under a decree publish...

Putin seizes rights to St Petersburg Airport from foreign investors

Citaglobal Bhd, in which the Yang di-Pertuan Agong Sultan Abdullah Sultan Ahmad Shah is a substantial shareholder, has together with its consortium partner TIZA Global Sdn Bhd, executed a 40:60 joint development agreement with clean energy player Abu Dhabi Future Energy Company PJSC (Masdar) for a two-gigawatt (2GW) solar farm project in Pahang for US$2 billion (RM9.75 billion).

Under the deal, Citaglobal and TIZA will hold a 40% equity interest in the project, with the remaining 60% held by Masdar. The parties will put in funding for the project's development's cost — which will be determined later — in proportion to their stake in the project.

Citaglobal executes deal with Abu Dhabi energy firm to develop US$2 bil solar farm in Pahang

The ringgit is expected to recover along with other emerging-market currencies once central banks in developed economies are done raising interest rates, according to Bank Negara Malaysia governor Datuk Abdul Rasheed Ghaffour.

BNM chief sees ringgit reprieve as rates peak

After seven turbulent years in Nepal, Axiata Group Bhd is selling its stake in Ncell Axiata Bhd by disposing of its shares in Reynolds Holdings Ltd, which holds an 80% stake in Ncell Axiata, and exiting the country.

Axiata sells Ncell stake and exits Nepal, cites unfair taxation and unfavourable foreign investor protection

Property developer Avaland Bhd (formerly known as MCT Bhd) has redesignated its non-independent non-executive director Apollo Bello Tanco as the group’s executive director (ED) and chief executive officer effective Jan 1, 2024.

Property developer Avaland redesignates Apollo as group ED and CEO, effective Jan 1

Pavilion Real Estate Investment Trust (Pavilion REIT) has terminated two memoranda of understanding (MOUs) it inked for the purchase of renewable energy (RE) from a solar power plant in Pasir Mas, Kelantan, under the Corporate Green Power Programme (CGPP) to power its malls.

Bitcoin soared to its highest price so far this year, as investors took on more risk ahead of comments from Federal Reserve chair Jerome Powell which could give guidance on whether the US is closer to lowering interest rates.

Bitcoin rally pushes largest token to 18-month high

The money-laundering and bribery charges against&nbsp;former Bersatu information chief Datuk Wan Saiful Wan Jan&nbsp;will all be heard in one court, after the Sessions Court allowed the application by the prosecution.&nbsp;

Wan Saiful’s 18 money-laundering charges to be tried together with corruption charges in one court

Bursa Malaysia ended the week marginally higher due to late buying, particularly in telecommunications and banking stocks, a dealer said.

Bursa ends marginally higher

PUTRAJAYA (Dec 1): Minister of Communication and Digital&nbsp;Fahmi Fadzil assured the public on Friday that personal data protection and cyber security&nbsp;will always be under control&nbsp;in the&nbsp;implementation of the National Digital Identity, or Digital ID programme.

Digital ID: Public assured of data protection and cyber security — Fahmi

Global stocks edged up on Friday, having closed out their best month in three years the day before, as investor confidence that interest rates will fall next year has lured cash into equities, cryptocurrencies and gold at the expense of the dollar.

Shares rally as investor confidence in Fed cuts grows

Prime Minister Datuk Seri Anwar Ibrahim on Friday hinted at a Cabinet reshuffle this month.

Anwar hints at Cabinet reshuffle this month

Senior lawyer Datuk Hisyam Teh Poh Teik will be the lead counsel for former Tronoh assemblyman Paul Yong Choo Kiong’s appeal against his conviction, 13 years’ jail and two strokes of the cane for raping his maid in 2019.

Hisyam Teh to lead defence in ex-Tronoh assemblyman Paul Yong's rape appeal

PUTRAJAYA (Dec 1): The civil service does not use external consultants unless in a situation where there is a lack of specific expertise, according to the Chief Secretary to the Government&nbsp;Tan Sri Mohd Zuki Ali.

Commodities

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