KOTA KINABALU (April 19): The Sabah Pan Borneo Expressway project launched in March 2015 serves as a catalyst that will stimulate and drive the state’s economic growth comprehensively, said Sabah Chief Minister Tan Sri Musa Aman. He said the project would also help to stimulate the state’s development agenda as outlined under the Hala Tuju Agenda of Sabah and the Sabah Development Corridor (SDC). “The Pan Borneo Expressway is a pledge by the Barisan Nasional (BN) government under the leadership of Prime Minster Datuk Seri Najib Tun Razak in theRead More
TOKYO, April 19 — Japanese scientists are encouraging South-east Asia’s palm oil producers to chop down trees to help save forests. Japan International Research Centre for Agricultural Sciences and IHI Enviro Corp, a subsidiary of IHI Corp,…
NEW DELHI, April 16 — India’s palm oil imports for the five-month period to March 2018 increased to 3.79 million tonnes from 3.55 million tonnes a year earlier, thanks to Malaysia’s export duty suspension. The Solvent Extractors’…
SUNGAI PETANI: Malaysia has been given the honour of leading the protest among co-operatives against the European Union's (EU) plan to ban the use of palm oil in transport fuels by 2021, according to Angkatan Koperasi Kebangsaan Malaysia Bhd (Angkasa) President, Datuk Abdul Fattah Abdullah.
He said the International Co-operative Alliance (ICA) had given its approval to the national co-operative union's application requesting to be the voice of opposition against the EU's plan.
“We have been given the honour of writing the formal protest letter to the EU. It will be submitted to the ICA by the end of this month and which is expected to be presented to the EU in the near future.
“The protest by Malaysia will not only benefit the country, but also other countries represented in the ICA (an apex organisation for co-operatives worldwide), including in Asia, the Americas, Europe and Africa.
“We hope that through this protest, the EU will at least see a large movement among co-operatives worldwide to consider,” he told reporters after the Angkasa Kedah Conference 2018 ended here today.
In April last year, the European Parliament adopted a non-binding resolution that said only certified sustainable palm oil could be imported into the EU after 2020.
The resolution also claimed that oil palm plantations in Malaysia and Indonesia illegally used slash-and-burn methods to clear land, destroying the rain forests as well as the animal habitats, causing a severe haze that blanketed parts of Asia.
Abdul Fattah said the EU proposal would have a negative impact on Malaysia, affecting about 700,000 smallholders under the Felda land schemes and Felcra Bhd.
He added that so far, Malaysia accounted for about 35% of the world's palm-oil based products, alongside other major producers like Indonesia, Thailand and Africa. — Bernama
KUALA LUMPUR, April 13 — British supermarket chain Iceland should be “ashamed” of its anti-palm oil policy which will deprive thousands of poor farmers in Asia, Africa and Latin America of much-needed income, a Malaysian group of…
KUALA LUMPUR (April 12): Based on corporate announcements and news flow today, companies in focus on Friday (April 13) may include: Dolphin International Bhd, MMS…
PETALING JAYA: Boustead Plantations Bhd (BPlant) has obtained shareholders’ approval to acquire 11,600 hectares (ha) of plantation land in Sugut, Sabah for RM750 million by mid-May 2018. Vice chairman Tan Sri Lodin Wok Kamaruddin said the oil palm fruit yields from the land were expected to generate an additional RM55 million in revenue for the […]
Maintain neutral: Inventories fell 6.2% month-on-month (m-o-m) (+49.6% year-on-year [y-o-y] in March to 2.32 million tonnes versus consensus estimates of 2.28 million tonnes. Despite seeing a strong rebound in production after dropping for four straight months, exports grew at a larger pace. Stock-to-usage ratio slipped from 13.9% to 10.9%. Crude palm oil (CPO) exports recovered with a gain of 19.2% m-o-m (+23.7% y-o-y) to 1.56 million tonnes after dropping 13.3% in the previous month. All major consuming countries contributed to stronger exports except the European Union (-46.2%) as most buyers lockedRead More
KUCHING: Malaysia palm oil stocks at end-March was higher than most expected on stronger production in Sarawak. As per the Malaysian Palm Oil Board’s (MPOB) statistics on monthly closing stock of oil palm products for the month of March 2018, total palm oil inventory amounted to 2.32 million tonnes, up from 1.55 million tonnes last […]
PETALING JAYA: Destini Bhd and Felcra Bhd today inked a memorandum of understanding (MoU) to provide, among others, maintenance, repair and overhaul (MRO) services for industrial facilities and equipment for the agriculture and related industries within Malaysia and the Asean region.
Destini said the MoU will serve as a platform for Destini Engineering Technologies Sdn Bhd (DETSB) to provide MRO services in the plantation industry, which is in line with its strategic direction of diversification of its recurring revenue within Destini’s core business of MRO services.
The MoU signed by Destini’s wholly owned subsidiary, DESTB and Felcra’s wholly owned subsidiary, Felcra Processing & Engineering Sdn Bhd, will see a joint-venture company (JVco) set up within three months from the MoU’s date.
The JVco will provide MRO services to Felcra’s oil palm factories, commercial and residential properties. It will be a “under one roof” service concept covering mechanical and electrical, electronics and civil works.
Both parties have also agreed to provide training for the services provided by Destini to Felcra College students and/or participants and to offer employment opportunities to them.
Destini’s president and CEO Datuk Rozabil Abdul Rahman said: “The group’s partnership with Felcra will enable Destini to adopt the MRO best practices that we have developed within the aviation, marine, land systems and O&G industries to the agriculture industry. We believe this transfer of technology will enhance further the productivity of Felcra and Malaysia’s agriculture industry as a whole.”
Felcra CEO Datuk Zukarnain Md Eusope said that with the collaboration, Felcra is able to tap on Destini’s expertise and experience in MRO.
On Bursa Malaysia today, Destini was up 3 sen to close at 44.5 sen on volume of 1.53 million shares.