KUALA LUMPUR: Licence revocation will be initiated against oil palm growers for failing to comply with the Malaysian Sustainable Palm Oil (MSPO) standards starting Jan 1, 2020, Primary Industries Minister Teresa Kok said.

Kok said the Malaysian Palm Oil Board (MPOB), which is the indust...

Kok: Non-MSPO growers’ licence will be revoked

Putrajaya may seek WTO intervention if there is evidence of discriminatory trade

Dr M: Malaysia won’t hesitate to counter palm oil discrimination

Malaysia is working on enforcing regulations that will ensure palm oil produced in the nation meet the accepted safety level for 3-MCPD esters, says Primary Industries Minister Teresa Kok.

Kok said this is as the palm oil industry in Malaysia has been instructed to adhere to the European Union (EU) prescribed level of 3-MCPD esters of 2.5 ppm for food products by 2021.

Teresa Kok: Malaysia working on enforcing regulations to meet EU food safety levels

Licence revocation will be initiated against oil palm growers for failing to comply with the Malaysian Sustainable Palm Oil (MSPO) standards by Jan 1, 2020, Primary Industries Minister Teresa Kok said today.

Kok said the Malaysian Palm Oil Board (MPOB) will revoke licences of oil palm growers which operate plantations with land area of 40ha (100 acres) and above. She said MPOB will revoke licences of oil palm mills that are non-MSPO certified.

Non-MSPO certified growers will see licences revoked — Teresa Kok

KUALA LUMPUR (Nov 19): Prime Minister Tun Dr Mahathir Mohamad said a ban on palm oil will not solve deforestation, but will instead lead to more opening of land-intensive oilseed crops to keep up with the rising demand.

Dr Mahathir was delivering his keynote address at the International...

Dr M: Ban on palm oil will not solve deforestation

KUALA LUMPUR: Cocoa processing company Guan Chong Bhd is likely set for a “bumper year” with a record profit performance for financial year 2019 (FY19), after its third-quarter (3Q) net profit jumped 38% year-on-year.

Its net profit rose to RM60.53 million for 3Q ended Sept 30 from RM43...

Guan Chong expects to see record profit in FY19 as 3Q earnings jump 38%

KUALA LUMPUR (Nov 18): Sarawak-based infrastructure company Hock Seng Lee Bhd turned in a net profit of RM14.56 million in the third quarter ended Sept 30, 2019 (3QFY19), a marginal improvement from RM14.31 million in the corresponding quarter a year ago, contributed by improved profit margin at its construction segment.

Quarterly revenue came in marginally higher at RM173.84 million compared with RM173.29 million in 3QFY18, due mainly to the timing of recognition of sales at its property development segment, its extra filing today showed.

Hock Seng Lee reports RM14.6m net profit in 3Q as margins improve

KUALA LUMPUR (Nov 18): Cocoa processing company Guan Chong Bhd is likely set for a "bumper year" with record profit performance for its financial year 2019 (FY19), after its 3Q net profit jumped 38% year-on-year.

Its net profit for the three months ended Sept 30, 2019 (3QFY19) rose to RM60.53 million from RM43.87 million, while revenue expanded 24% to RM744.61 million from RM598.78 million, its stock exchange filing today showed.

Guan Chong says FY19 likely to see record profit as 3Q earnings jump 38%

KUALA LUMPUR (Nov 18): theedgemarkets.com has highlighted eight stocks with momentum at Bursa Malaysia’s afternoon close today. All right stocks displayed negative momentum.

The stocks with negative momentum were:

BTM Res...

BTM, GDB, JHM, NadiBhd, P.A., P.I.E., Rohas, Thong Guan

‘Small- to mid-cap plantation stocks remain our favourite as valuations remain attractive at current levels’

Plantation firms set to see best quarter since 2017 — analyst

WASHINGTON (April 19): Donald Trump said on Thursday the survival of Ukraine is important to the United States, a shift in tone days before the Republican-led U.S. House of Representatives is due to vote on a $61 billion aid package.

The former president did not endorse the package, and...

Donald Trump says Ukraine's survival is important to US

(April 19): 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.

“We work very closely with Governor Perry,” Finance Minister Sri Mulyani Indrawati said in a Bloo...

Indonesian finance chief aims to shield economy from dollar rise

(April 19): A trader accused of exploiting Mango Markets rules to steal US$110 million from the exchange was convicted of fraud in the first US trial involving criminal charges tied to cryptocurrency manipulation.

Federal jurors in New York on Thursday found Avraham Eisenberg, 28, guilt...

Crypto trader convicted in US$110 million Mango Markets fraud

UNITED NATIONS (April 19): The United States on Thursday effectively stopped the United Nations from recognizing a Palestinian state by casting a veto in the Security Council to deny the Palestinian Authority full membershipof the world body.

The United States says an independent Palest...

US stops UN from recognizing a Palestinian state through membership

NEW YORK (April 19): U.S. 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 ...

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

Nashville, Tennessee (April 19): Chinese government-linked hackers have burrowed into U.S. critical infrastructure and are waiting "for just the right moment to deal a devastating blow," FBI Director Christopher Wray said on Thursday.

An ongoing Chinese hacking campaign known as Volt Ty...

FBI says Chinese hackers preparing to attack US infrastructure

NEW YORK (April 19): U.S. stocks closed near the unchanged mark on Thursday, as investors sifted through the latest corporate earnings, while economic data and comments from Federal Reserve officials suggested the central bank was unlikely to cut interest rates in the near future.

Econo...

Stocks end near flat as investors assess earnings, data

BERGAMO, Italy (April 19): Atalanta progressed to the Europa League semi-finals despite losing 1-0 to Liverpool on Thursday as they triumphed 3-1 on aggregate to move one step closer to a first ever European final for the Serie A side.

Atalanta had stunned the Premier League club 3-0 in...

Liverpool eliminated as Atalanta book Europa League semi-final place

LILLE, France (April 19): Aston Villa goalkeeper Emiliano Martinez saved two spot kicks and survived a bizarre red card incident as his side beat French club Lille on penalties to reach the Europa Conference League semi-finals on Thursday.

A chaotic match ended 3-3 on aggregate after Li...

Martinez avoids red card, saves penalties to send Villa into semis

NEW YORK (April 19): A Florida jury on Thursday concluded that Johnson & Johnson's baby powder talc product did not cause the ovarian cancer of a Florida woman who died in 2019.

The lawsuit was brought by family members of Patricia Matthey, a Sarasota County resident who used Johnso...

J&J wins trial over Florida woman who claimed its baby powder caused her cancer

Malaysia Building Society Bhd (MBSB) has recommended a final dividend of 3.5 sen for the financial year ended Dec 31, 2023 (FY2023).

This would equate to a payout of RM287.78 million, based on the bank’s share base of 8.22 billion shares as at end-December 2023, according to MBSB’s bourse filing on Thursday.

MBSB proposes 3.5 sen dividend for FY2023

Digital payment and financial technology provider Ant International is going to establish what it calls a new digital business centre in Malaysia, creating more than 500 job opportunities in the first year, with more hirings in the next four years until 2028.

Ant International to set up new business centre in Malaysia, creating over 500 jobs

KUALA LUMPUR (April 18): AwanBiru Technology Bhd (Awantec) said trading in its shares will be suspended from April 26, after the group failed to submit its regularisation plan to the regulators for approval within the stipulated timeframe.

Awantec faces trading suspension from April 26 after failing to submit regularisation plan

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

Malaysia’s current tallest building, the Merdeka 118 tower, has been awarded the Leadership in Energy and Environmental Design (LEED) Platinum certification in the LEED v2009 Core and Shell rating system, marking it as the first megatall building in the country to achieve it, according to a press statement on Thursday.&nbsp;

Merdeka 118 first megatall building in Malaysia to get LEED Platinum certification

Pansar Bhd has secured a contract worth RM269.1 million to upgrade the capacity of a water treatment plant in Sibu, Sarawak.

The construction and infrastructure outfit secured the job from Lembaga Air Sibu via an open tender, through its wholly owned Perbena Emas Sdn Bhd.

Pansar bags RM269m job to upgrade water treatment plant in Sarawak

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

Australia brought 23 companies seeking investment in maritime decarbonisation and renewable energy (RE) sectors to Malaysia as part of the Australia-Southeast Asia Business Exchange programme.

Australia brings 23 firms looking to invest in maritime decarbonisation, RE sectors in Malaysia

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

Engineering services provider AWC Bhd has bagged two contracts worth a total of RM19.39 million for plumbing works at Hospital Kapar in Selangor and a data centre in Cyberjaya.

In a statement on Thursday, AWC said the Hospital Kapar job was awarded to its wholly-owned subsidiary Qudotech Sdn Bhd by the project's main contractor, IJM Corp Bhd's unit IJM Construction Sdn Bhd.

AWC secures plumbing jobs at Hospital Kapar and Cyberjaya data centre

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E...

EVENING 5: Five things you need to know today

A former technician was brought before the Sessions Court again here on Thursday on a charge of posting offensive messages insulting Islam on his Facebook account in&nbsp;March, regarding the sale of stockings bearing the word 'Allah'.

'Allah' socks insults: Former technician brought before Sessions Court again

Bursa Malaysia Securities Bhd has approved the transfer of UMediC Group Bhd’s listing status from the ACE Market to the Main Market, under the 'health care'&nbsp;sector.

Bursa approves UMediC’s transfer to Main Market

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

KUALA LUMPUR (April 18): Global video game commerce company Xsolla, Inc has collaborated with Curine Ventures to launch the Xsolla Curine Academy (XCA) in KL Eco City.

Xsolla Curine Academy launched to foster growth in game development industry

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

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

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

Surface decorative products company Topmix Bhd reported RM2.84 million net profit on the back of RM21.64 million revenue for the fourth quarter ended Dec 31, 2023 (4QFY2023), ahead of its listing on Bursa Malaysia’s ACE Market.

Topmix posts RM2.84 mil net profit in 4Q ahead of ACE Market listing

(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;

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