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Barnama
2 days ago
- Business
- Barnama
CPO Futures Expected To Trade With Downward Bias Next Week
By Engku Shariful Azni Engku Ab Latif KUALA LUMPUR, July 26 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade with a downward bias next week due to profit-taking from the recent rally. Interband Group of Companies senior palm oil trader Jim Teh said the palm oil stock in June is high, at about two million tonnes; hence, prices are expected to trade in a tight range between RM3,800 per tonne and RM3,900 per tonne next week. 'The physical demand for palm oil would come from China, India, Pakistan, the Middle East and European countries,' he told Bernama. Similarly, palm oil trader David Ng said the rising output and stock levels of CPO in Malaysia will be the market focus next week. He said Russia's announcement on the suspension of export duty for sunflower oil, as reported, might have a short-term impact on CPO prices. 'We expect prices to trade between RM4,150 per tonne and RM4,300 per tonne next week,' he said. On a weekly basis, the August 2025 contract slid RM41 to RM4,221 per tonne, while the September 2025 contract shrank RM51 to RM4,258 per tonne, and the October 2025 contract shed RM42 to RM4,273 per tonne. The November 2025 contract inched down RM22 to RM4,283 per tonne, December 2025 remained unchanged from last week at RM4,290 per tonne, and January 2026 gained RM15 to RM4,290 per tonne.
New Straits Times
3 days ago
- Business
- New Straits Times
CPO futures expected to trade with downward bias next week
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade with a downward bias next week due to profit-taking from the recent rally. Interband Group of Companies senior palm oil trader Jim Teh said the palm oil stock in June is high, at about two million tonnes; hence, prices are expected to trade in a tight range between RM3,800 per tonne and RM3,900 per tonne next week. "The physical demand for palm oil would come from China, India, Pakistan, the Middle East and European countries," he told Bernama. Similarly, palm oil trader David Ng said the rising output and stock levels of CPO in Malaysia will be the market focus next week. He said Russia's announcement on the suspension of export duty for sunflower oil, as reported, might have a short-term impact on CPO prices. "We expect prices to trade between RM4,150 per tonne and RM4,300 per tonne next week," he said. On a weekly basis, the August 2025 contract slid RM41 to RM4,221 per tonne, while the September 2025 contract shrank RM51 to RM4,258 per tonne, and the October 2025 contract shed RM42 to RM4,273 per tonne. The November 2025 contract inched down RM22 to RM4,283 per tonne, December 2025 remained unchanged from last week at RM4,290 per tonne, and January 2026 gained RM15 to RM4,290 per tonne. The weekly trading volume shrank to 385,858 lots from 555,657 lots last week, while open interest went down to 229,303 contracts from 237,735 contracts. The physical CPO price for July South was RM60 lower at RM4,230 per tonne.
The Star
23-07-2025
- Business
- The Star
MACC seeks forfeiture of RM169mil from Ismail Sabri
KUALA LUMPUR: The Sessions Court here has fixed Oct 1 to hear an application by the Malaysian Anti-Corruption Commission (MACC) in its bid to forfeit more than RM169mil in cash belonging to former prime minister Datuk Seri Ismail Sabri Yaakob. Sessions Court judge Suzana Husin set the date during case management here yesterday. Lawyer Datuk Amer Hamzah Arshad, who represented Ismail Sabri, informed the court that the respondent needed more time to reply to the application. The court then instructed the respondent to file an affidavit by Aug 13 and the prosecution to file affidavit-in-reply by Sept 3. Deputy public prosecutor Ifa Sirrhu Samsudin and Alis Izzati Azurin Rusdi appeared for the prosecution. On July 7, the MACC, represented by the deputy public prosecutor as the applicant, filed the application and named Ismail Sabri's former political secretary, Datuk Mohammad Anuar Mohd Yunus and the former prime minister as first and second respondents. In the application, the MACC is seeking a court order to forfeit cash seized from the first respondent for the Malaysian government, including RM14,772,150, S$6,132,350, US$1,461,400, 3mil in Swiss Francs, €12,164,150, ¥363,000,000, £50,250, NZ$44,600, 34,750,000 Emirati Dirham and A$352,850. The application was made under Section 41(1) of the MACC Act 2009 after it was satisfied that the money kept by Mohammad Anuar belonged to Ismail Sabri and was linked to an offence under Section 36(2) of the same Act. The MACC also applied for other court orders deemed suitable by the court.
New Straits Times
22-07-2025
- New Straits Times
GOF seize over RM600,000 worth of smuggled cosmetics, medicine
PADANG BESAR: The General Operations Force (GOF) seized over RM600,000 worth of unregistered cosmetics and pharmaceutical products believed to have been smuggled from Thailand, during a roadblock operation at Km 27 here yesterday. Two local men, both aged 41, were arrested after officers found them driving two lorries loaded with the contraband in suspicious circumstances. GOF Northern Brigade Commander Senior Assistant Commissioner Shahrum Hashim said the lorries were stopped for inspection before officers discovered the illicit cargo. "A total of 680 boxes of cosmetic products and 76 boxes of various unregistered medicines and supplements, all without approval from the Health Ministry, were found in the lorries. "The total value of the seized items is estimated at RM607,150. Both lorries used to transport the goods were also confiscated," he said in a statement today. Shahrum said all seized items were handed over to the state Health Department for further action. "The case is being investigated under Regulation 7(1)(a) of the Control of Drugs and Cosmetics Regulations 1984. "If convicted, the offenders may face a fine of up to RM100,000, imprisonment for up to five years, or both," he said. He added that GOF remains committed to strengthening border security and urged the public to report any smuggling activities.
Sinar Daily
22-07-2025
- Business
- Sinar Daily
Court to hear MACC's RM169 million forfeiture bid against Ismail Sabri on Oct 1
The court also ordered the defence to file its affidavit in reply on or before Aug 13, while MACC must file a counter-affidavit on or before Sept 3. 22 Jul 2025 04:54pm Former prime minister Datuk Seri Ismail Sabri Yaakob - Photo by Bernama KUALA LUMPUR - The Sessions Court here today set Oct 1 to hear the Malaysian Anti-Corruption Commission's (MACC) application to forfeit over RM169 million in cash allegedly belonging to former prime minister Datuk Seri Ismail Sabri Yaakob. Judge Suzana Hussin fixed the date after lawyer Datuk Amer Hamzah Arshad, representing Ismail and his former political secretary Datuk Mohammad Anuar Mohd Yunus as respondents, informed the court that more time was needed to review and respond to the application. The court also ordered the defence to file its affidavit in reply on or before Aug 13, while MACC must file a counter-affidavit on or before Sept 3. The proceedings were attended by Deputy Public Prosecutors Ifa Sirrhu Samsudin and Alis Izzati Azurin Rusdi, as well as lawyer Ragunath Kesavan, who also appeared for Ismail and Mohammad Anuar. MACC is seeking a court order to forfeit the seized funds from Mohammad Anuar to the Malaysian Government. The funds sought to be forfeited include RM14,772,150; SGD6,132,350 (Singapore dollars); USD1,461,400; CHF3 million (Swiss francs); EUR12,164,150; JPY363,000,000 (Japanese yen); GBP50,250; NZD44,600; AED34,750,000 (UAE dirhams) and AUD352,850. The Sessions Court here set Oct 1 to hear MACC's application to forfeit over RM169 million in cash allegedly belonging to former prime minister Datuk Seri Ismail Sabri Yaakob. - BERNAMA FILE PIX The application was made under Section 41(1) of the MACC Act 2009 after the commission was satisfied that the money held by Mohammad Anuar belonged to Ismail Sabri and was linked to an offence under Section 36(2) of the same Act. On July 3, MACC chief commissioner Tan Sri Azam Baki said at a press conference that the anti-graft body would apply to the court to forfeit seized assets amounting to RM170 million. Previously, Ismail Sabri had been summoned several times to record statements with regard to the declaration of assets he made to the MACC. MACC had also seized RM170 million in cash in various foreign currencies, as well as 16 kilogrammes of pure gold bars estimated to be worth RM7 million, in connection with the corruption and money laundering investigation involving the Bera MP. The seizure was made during raids on residences and offices believed to be used as 'safe houses' following investigations into four senior officers of Ismail Sabri who were arrested in February. - BERNAMA More Like This
