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DIEM Duroil to export 10,000 health products to Cambodia by mid-year

KUALA LUMPUR, DIEM Duroil Sdn Bhd, a complete sourcing company for personal care and health food products, is eyeing to export up to 10,000 of its products to Cambodia by mid-2020 under the development and supply agreement with Chhay Sambath Kong Co., Ltd of Cambodia (CSK Cambodia).

DIEM Duroil chief executive officer Raja Azhar Raja Azman said under the agreement signed today, the company will begin the sourcing by exporting 1,000 units each of DIEM’s bird’s nest drink, biotin and apple stem cell shampoo to Cambodia in the near term.

“We start with a small amount first, as we will not only export our products there, but also will be sending our team to give support to CSK Cambodia in terms of introducing our products to the local market and making sure that they get full technical support for the products.

“We also want to test the market and find out which of our products that have more demand so that we could export the right amount to Cambodia,” he told reporters after signing the agreement with CSK Cambodia here today.

To date, he said DIEM has already been supplying its MCT Oil to CSK Cambodia, a product that offer numerous health benefits, that have received overwhelming demand from the local market.

“We chose CSK Cambodia as our sourcing partner in Cambodia due to their huge distribution channels in the country and experience leadership, and we are confident that they would be able to make our products among the top-rated health food in Cambodia,” he added.

Source: BERNAMA (News Agency)

Bank Negara reserves at US$104.2 billion as at Jan 31, 2020

KUALA LUMPUR, The international reserves of Bank Negara Malaysia amounted to US$104.2 billion as at Jan 31, 2020.

In a statement, the central bank said the reserves position was sufficient to finance 7.5 months of retained imports and was 1.1 times the total short-term external debt.

Bank Negara said the main components of the international reserves comprised foreign currency reserves (US$97.7 billion), International Monetary Fund reserves position (US$1.1 billion), special drawing rights (SDRs) (US$1.1 billion), gold (US$1.9 billion) and other reserve assets (US$2.4 billion).

Assets included gold, foreign exchange and other reserves including SDRs, which amounted to RM426.275 billion, Malaysian government papers (RM1.98 billion), deposits with financial institutions (RM1.86 billion), loans and advances (RM7.067 billion), land and buildings (RM4.161 billion) and other assets (RM9.607 billion).

Source: BERNAMA (News Agency)

Malaysia’s palm oil market share in Pakistan set to grow

PUTRAJAYA, Malaysia’s palm oil market share in Pakistan is set to grow from the current 22 percent following Karachi’s commitment to buy more palm oil from the country, Primary Industries Minister Teresa Kok Suh Sim said today.

Aside from Pakistan Prime Minister Imran Khan’s pledge to buy more Malaysian palm oil, Kok said Pakistani manufacturers have also expressed their strong interest in the country’s palm oil during her recent visit to a refinery in Karachi.

“With this current deal and demand from palm oil manufacturers, I can see that there is room for improvement, she told reporters here after witnessing the handing over of 3.75 million pieces of medical gloves to China to assist in the fight against the 2019 Novel Coronavirus outbreak.

During his visit to Malaysia on Tuesday, Imran said Pakistan was prepared to buy more palm oil from Malaysia to compensate for losses following top buyer India’s move to curb Malaysian palm oil imports.

According to the Malaysian Palm Oil Council, Pakistan bought 1.1 million tonnes of palm oil from Malaysia last year.

On whether Pakistan could actually afford to buy more palm oil from Malaysia, Kok said the matter could be ironed out through negotiations between the two countries.

“There will always be a demand for palm oil and fats. What both countries need to do now is to sit down and iron out issues under the name of bilateral trade,” she said.

Kok said this in response to reports which quoted economists saying that Malaysia should not expect too much from Pakistan’s pledge to buy more palm oil due to the latter’s lack of money and weak internal demand.

Source: BERNAMA (News Agency)

Westport to acquire land for expansion

KUALA LUMPUR, Westports Holdings Bhd’s (WHB) unit, Westports Malaysia Sdn Bhd has entered into a conditional sale and purchase agreement with Pembinaan Redzai Sdn Bhd to acquire a parcel of leasehold land in Klang, Selangor for RM393.96 million.

WHB in a filing with Bursa Malaysia today, said the proposed acquisition would be used for the development of container terminal (CT) facilities that will form part of its proposed expansion plans involving the construction of eight additional berths comprising CT 10 to CT 17.

The current CT facilities comprising CT 1 to CT 9, are operating at a utilisation rate of approximately 77 per cent of its total terminal handling capacity and we expect them to reach near-full utilisation within the next few years, it said.

As part of its proactive management strategy, the group intends to undertake a periodic increase in its CT capacity to meet the projected throughput demand as well as to remain competitive in the industry.

WHB intends to fund the purchase through internally generated funds and bank borrowings.

It envisages the entire proposed expansion to be undertaken over a period of 25 years.

Meanwhile, it said the proposed land acquisition is expected to be completed by the fourth quarter of 2020.

Source: BERNAMA (News Agency)

Adhere to EC 3-MCPD rule to avoid another trade barrier – MPOB

KUALA LUMPUR, The whole palm oil supply chain needs to work together in meeting the European Commission (EC) proposed regulation of 2.5 ppm for 3-MCPD esters or the industry may face another trade barrier with the trading bloc, according to the Malaysian Palm Oil Board (MPOB).

Head of unit of analytical and quality development Dr Azmil Haizam Ahmad Tarmizi said the supply chain, while working together to effectively address the environmental and sustainability issues, must also pay an important role to tackle the food safety issue.

It is a team effort. Not only for the refineries, mills or the plantation companies but it is a team effort from the top to the bottom.

At the mill level, for example, it is important to segregate the secondary oil from mixing with fresh crude palm oil because the contents in both products are not the same, he said at a forum on 3-MCPD and glycidyl fatty acid esters (GEs) in Jakarta, Indonesia today.

At the forum, which has gone live on Facebook, Azmil presented a paper on Palm Oil Sterilisation Technology and Their Implications on Oil Loss, Quality and Food Safety.

For the sterilisation process, which is the heart of the milling process, Azmil explained that the selection of sterilisation technology will determine the quality of crude palm oil produced for refining processes.

In general, he said, there are four types of sterilisation in any palm oil mill — horizontal steriliser, tilting steriliser, vertical steriliser and continuous steriliser.

Today in the EU they are going to vote for the limit for the vegetable oil pertaining to 3-MCPD esters and GEs, and from there they will make a decision on the implementation, and according to their original plan they will enforce this limit by Jan 1, 2021.

But I would like to share with you that there are diverse opinions when they have a public comment on the level of MCPD, for example, for food in Europe it is now at 2.5 ppm, but over time they will be ready to commit to a lower level of 2 ppm, he said.

Reducing 3-MCPD esters and GEs is a high priority for the oils and fats industry, the Council of Palm Oil Producing Countries (CPOPC) said on its website.

On Feb 26, 2018, the EU enacted Regulation (EU) 2018/290, which sets maximum limits for GEs, with a level for edible oils and fats set at 1,000 g/kg.

Next, the EU is proposing a regulation on 3-MCPD.

The CPOPC, which is hosting today’s forum, is of the view that a maximum level of 2,500 g/kg or 2.5 ppm for all vegetable oils should be adopted as the acceptable safety limit for consumption.

The industry needs to be prepared to produce palm oil and palm products for food uses to meet the level of 2,500 g/kg of 3-MCPD within the one-year time-frame as per the EU proposal, it said.

The European Commission has proposed two levels for vegetable oils and fish oils for the final consumer, or for use as food ingredients.

The levels are 1,250 g/kg for unrefined oils, refined oils and fats from rapeseed, sunflower, soybean, maize, olive, coconut, and palm kernel and mixtures of oils and fats from this category; and 2,500 g/kg for others including palm oil.

Once approved, the 3-MCPD maximum limit regulation will come into force on Jan 1, 2021.

Source: BERNAMA (News Agency)

MATRADE to lead Malaysia’s participation in Singapore airshow 2020

KUALA LUMPUR, The Malaysia External Trade Development Corporation (MATRADE) will be leading a mission to the Singapore Airshow next week to promote Malaysia’s aerospace sector, as well as to create opportunities for its home-grown companies to be part of the global aviation supply chain.

In a statement, MATRADE said the initiative would involve the participation of 62 Malaysian participants from 15 organisations at the airshow from Feb 11-16.

The focus sectors to be highlighted during the event include aero-manufacturing, maintenance, repair and overhaul, education and training services, aviation, and defence sub-sectors.

Among the companies taking part are Sapura Aerospace, Asia Aerotechnic and Global Turbine Asia.

MATRADE chief executive officer Datuk Wan Latiff Wan Musa said the mission would market Malaysian companies, as well as provide local players the opportunities to be exposed to new technologies and explore partnerships with original equipment manufacturers and Tier 1/ Tier 2 suppliers from around the globe.

Furthermore, he said Malaysia’s participation in the event is key to promote Malaysia as an aerospace hub for the Southeast Asian region and attract the global participants to MATRADE-own aerospace event, the Kuala Lumpur International Aerospace Business Convention (KLIABC) 2020 from June 23-25 this year.

We will be launching KLIABC 2020 at the event, and despite the current 2019 novel coronavirus outbreak, MATRADE will be taking all the necessary precautionary measures, with the support of the organiser to ensure the well-being of our delegates, he added.

Malaysia’s export of aircraft parts and components tripled from RM2.88 billion in 2014 to a record high of RM8.82 billion in 2019, mainly driven by the expansion of aerospace manufacturing activities.

Malaysia’s top exports were aerospace parts and components, fan cowl, fan casing, thrust reverser, forward leading edge, aircraft door, avionics equipment and carbon brakes, while the top export markets were the United States, the United Kingdom, France, Singapore, and China.

Source: BERNAMA (News Agency)

CBP expects to declare better 2019 dividend

KUALA LUMPUR, Koperasi Co-opbank Pertama Malaysia Bhd (CBP) is expected to declare a better 2019 dividend compared to that of 2018 at 7.0 per cent in May this year, its chief executive officer/president, Mohd Nor Abd Razak said.

However, he declined to provide the detailed figure, as the auditing process is still ongoing.

“The figure can only be announced after the approval by regulators. The performance indicators for 2019 has been very encouraging, more than what was achieved in 2018, he told reporters at the meet-up session with the media here recently.

Mohd Nor said there were signs that CBP’s profit in 2019 was higher that RM52 million achieved in 2018.

He said CBP may declare higher dividend than that of Amanah Saham Bumiputera (ASB) and the Employees Provident Fund (EPF).

Permodalan Nasional Bhd (PNB) announced an income distribution of 5.00 sen a unit and a bonus of 0.5 sen for Amanah Saham Bumiputera (ASB) for 2019.

The EPF is expected to distribute a 2019 dividend rate of five to six per cent, based on economists projection.

“We are subjected to regulators, the accounts must be completed in February and submitted to the chairman before March 31, 2020. And it must gain the endorsement and approval from the board of directors before they are submitted to the Malaysia Co-operative Societies Commission (SKM), he said.

He said as the 2019 business achievement surpassed the 2018 performance, the need for capital still exists.

“We are opening up opportunities for any individuals and cooperatives who are keen to increase or become new members, he said adding that the waiting list now has reached 700 people.

The individual members of CBP is open to Malays, Muslims, and Sabah’s and Sarawak’s Bumiputera who have reached the age of 18, among others.

The minimum share payment of an individual member is RM1,000.

Source: BERNAMA (News Agency)