Latest news with #200
Focus Malaysia
4 hours ago
- Business
- Focus Malaysia
Indonesia's palm oil clean-up sparks ESG concerns, investment caution
LAST week, Indonesia's forestry task force transferred approximately 400,000 ha (988,000 acres) of seized palm oil plantations to a state-owned company, Agrinas Palm Nusantara, as they were allegedly operating illegally in designated forest areas. 'Based on our channel checks, several local plantation companies have surrendered a small portion of their plantation land to the Indonesian authorities. We understand that the impact on their earnings is largely muted,' said Public Investment Bank. However, this development raises regulatory risks for industry players with significant exposure in Indonesia, which could weigh on their valuations over the long term. Meanwhile, the recent surge in CPO prices to over RM4,200/mt may reignite investor interest in plantation counters. We maintain our Neutral outlook with a full-year CPO price forecast of RM4,200/mt. Last week, a total of 394,547 ha of plantation land—spread across Central Kalimantan, Riau, and North and South Sumatra and controlled by 232 companies—was confiscated and handed over to Agrinas, a state-owned company established in early 2025 under the administration of President Prabowo Subianto. The operations were jointly led by the Ministry of Environment and Forestry, Ministry of Defense and Attorney General's Office. The task force is aiming to take over a total of 3m ha of illegally-run plantations in forest area by Aug. With this addition, the total plantation area under the Agrinas Group now stands at 833,000 ha, making the company as one of the largest plantation companies in the world. Based on our checks, several local companies have surrendered plantation land to the Indonesian authorities, ranging from 1,000ha to 6,000ha, some of which are in unproductive condition. We understand that the earnings impact for these companies is relatively muted. However, in our view, this may pose a long-term ESG risk. Given the recent land seizures, we do not rule out the possibility that some plantation companies may exit or scale down their operations in Indonesia over the longer term, due to rising regulatory risks. Investment in replanting activities is also expected to be more cautious, as it may compromise the companies' interests. We are also concerned that the military-led enforcement in plantation could exacerbate the declining trend in Indonesian palm production as we are doubtful over the state's ability to manage these plantations effectively. Based on our rough forecast, if 50% of the entire seized 833,000ha plantation remains unproductive, the annual palm oil production could decline by about 4% or 1.7m mt. —July 16, 2025 Main image: What is palm oil?
New Straits Times
10 hours ago
- Business
- New Straits Times
Rising regulatory risks may force planters to scale back in Indonesia
KUALA LUMPUR: Rising regulatory risks in Indonesia could prompt some plantation companies to scale down or exit their operations over the longer term following a wave of large-scale land seizures, Public Investment Bank Bhd (PublicInvest) said in a recent note. Last week, Indonesian authorities confiscated 394,547 hectares of plantation land spanning Central Kalimantan and Riau, as well as North and South Sumatra. The land, previously controlled by 232 companies, has been transferred to Agrinas, a state-owned company established in early 2025 under the administration of President Prabowo Subianto. The operations were carried out jointly by the Ministry of Environment and Forestry, Ministry of Defence, and the Attorney General's Office. The task force has set a target to reclaim up to three million hectares of plantations deemed illegally operating within forest areas by August. With the latest seizures, Agrinas now controls approximately 833,000 hectares of plantation land, making it one of the largest plantation operators globally. With this latest addition, the total plantation area under the Agrinas Group now stands at 833,000 hectares, making the company one of the largest plantation firms in the world. Based on PublicInvest's channel checks, several local plantation companies have surrendered a small portion of their plantation land to the Indonesian authorities. "We understand that the impact on their earnings is largely muted. However, this development raises regulatory risks for industry players with significant exposure in Indonesia, which could weigh on their valuations over the long term," it noted. The firm also views this as a potential long-term environmental, social and governance risk. Furthermore, PublicInvest said investment in replanting activities is expected to be more cautious, as it may compromise the companies' interests. The firm added that it is also concerned the military-led enforcement in plantations could exacerbate the declining trend in Indonesian palm production, as there are doubts over the state's ability to manage these plantations effectively. "Based on our rough forecast, if 50 per cent of the entire seized 833,000 hectares plantation remains unproductive, the annual palm oil production could decline by about four per cent or 1.7 million metric tonnes," it said. Meanwhile, PublicInvest said the recent surge in crude palm oil prices to over RM4,200 per metric tonne may reignite investor interest in plantation counters. The firm has maintained a neutral outlook with a full-year crude palm oil price forecast of RM4,200 per metric tonne.
Barnama
a day ago
- Business
- Barnama
CPO Futures End Lower On Profit-Taking
WORLD By K. Naveen Prabu KUALA LUMPUR, July 15 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower today on profit-taking by traders. Fastmarkets Palm Oil Analytics senior analyst Dr Sathia Varqa said traders locked in profits following Monday's rally, which had lifted prices to a three-month high. He added that the stronger ringgit also pressured the market. 'The ringgit strengthened sharply against the United States (US) dollar, making ringgit-denominated CPO more expensive for international buyers,' he told Bernama. Meanwhile, palm oil trader David Ng said expectations of slower export performance weighed on prices. 'CPO plunged below RM4,200 per tonne as concerns over export weakness in the coming weeks weigh on market sentiment. 'We see price support at RM4,100 per tonne and resistance at RM4,300,' he said. At the close, the spot-month July contract remained unchanged at RM4,109 per tonne, August 2025 declined by RM77 to RM4,106 per tonne, and September 2025 fell RM84 to RM4,146 per tonne.
The Star
a day ago
- The Star
Teen dropouts lured into working for sex scam syndicate
JOHOR: Teenage school dropouts were among those lured by supposedly high-paying jobs offered by a syndicate running a sex scam. These teenagers were recruited through social media with promises of a monthly salary of RM2,200 to RM4,000, said Johor police chief Comm Datuk M. Kumar. They were also told that they could earn up to US$2,500 (RM10,637) once they became more skilled and were sent to work abroad, he added. In reality, these recruits were trained to 'hunt' for victims via fake social media accounts and persuade them to perform sexual acts on video, he said yesterday. Comm Kumar said these recruits were confined and made to work for the syndicate for 12 hours a day. 'If they refused to cooperate, they were beaten, forced to eat chillies and subjected to sexual abuse. They were only allowed a day off after two weeks of work but even then, their movements were strictly monitored,' he said. He said the recruits' mobile phones and identification cards were confiscated by syndicate members, thus preventing them from seeking help. 'If they wanted to quit, they had to pay RM30,000 to be released from employment,' he said. Comm Kumar said the syndicate's modus operandi was to create fake social media accounts of attractive women to entice people into making sexually explicit video calls. 'During the video call, the syndicate member would persuade the victim to perform sexual acts, all of which were recorded and later used to blackmail him for money,' he said. 'The syndicate member would send phishing links to hack into the victim's mobile phone. Once the person clicked on the link, the syndicate would hack into his mobile phone, gaining access to the contact list and photo gallery.' The syndicate would then threaten to distribute the videos to the victim's entire contact list if he refused to pay up. They would attempt to extort the victim by asking for RM500 to RM1,000 each time, he said. Based on police intelligence, Comm Kumar said a series of raids were carried out between June 20 and July 1 around Johor Baru and Kulai. This led to the arrest of seven men and two women aged between 17 and 50, including the mastermind of the syndicate, which had been active since November last year. He said three recruits aged 15, 16 and 26, who had also been sexually exploited, were also rescued. He urged the public not to be easily taken in by high-paying job offers, especially those circulated on social media, and to always verify the background of these so-called companies. 'And do not be misled by the profiles of seemingly attractive women on social media, as syndicates use fake accounts to send phishing links that steal data from mobile phones before extorting from you,' he said.
New Paper
2 days ago
- Sport
- New Paper
July 15 South Africa (Kenilworth) form analysis
Race 1 (1,600m) (7) BETTER MAN comes back from a small break. On his best form, he will be tough to beat. (4) NEW WORLD stayed on beautifully for second last time. From a good draw, he will be right there in the finish. (9) DIAMOND DAYS is still improving. Although the bad draw is a concern, he has a good place chance if he gets some luck in the running. (8) YAMAZAKI ran a better race last time. If he can build on that, he could sneak into the quartet. Race 2 (1,000m) (5) STORMWATCH was green and stayed on strongly for second on debut. If she has improved, she will be very hard to beat. (2) SWIFT SERENITY ran fourth last time behind Stormwatch. She should be there among the places. (3) SPLASH OF COLOUR ran a disappointing race last time. The drop in trip could help her chances. Newcomer (1) WITHOUT HESITATION has drawn gate 1. Watch her closely. Race 3 (1,000m) (7) NIGHTRAIN stayed on well to finish third on debut. He has ability and looks hard to beat. (6) AFRICAN MEMOIR has run two lovely races in succession, and finished just in front of Nightrain last time. Include him in all bets. (3) FEAR OF FIRE ran a fair race on debut. He drops in trip to 1,000m and could certainly run into the places at a decent price. (8) FLEUR DE VILLE has been well tried in the maiden ranks. On her best form, she could make the quartet pay. Race 4 (1,400m) (8) UNITED FRONT will be very hard to beat. He showed tremendous speed early and fought hard to finish second on debut. It will take a smart horse to beat him. (3) SIERRA SAGRADA comes back from a break and gelding. He ran a disappointing fifth last time, but he is better than that, so respect his chances from a neat draw. (9) KONNICHIWA has been rested for 92 days. The draw will make life tough for him, but he tries hard and will be running on powerfully late. (6) FUTURE FREE ran a shocker up the straight at Hollywoodbets Kenilworth last time. He steps up in trip. Watch him closely. Race 5 (1,400m) (1) APRICITY made up solid ground to finish second last time. She enjoyed the step-up in trip to 1,400m. From a good draw, she will go very close to winning. (2) KISSES's last two runs over ground have been good. She ran a lovely race from a bad draw last time but, if she can build on her recent form, she will have a nice each-way chance. (3) PACIFIC WATERS ran a fair race on debut. She steps up in trip and gets the service of Gavin Lerena. Watch for a big run. (6) SPECIAL GLAMOUR ran a much better race with the tongue tie last time. If she can bring that run to the track, she will have a say in the finish. Race 6 (1,000m) (1) CHURCHILLIAN ran the race of his life in the Listed Somerset 1,200 last time. He showed good speed early, and stayed on strongly for second in a tight finish. He can win a race like this on pure ability. (11) OCTOBER STORM won well on debut, even though he was green. He can improve from that. Include him in all bets. (2) ESCARPMENT was just off the speed early, but stayed on nicely for second last time. On his best form, he could finish among the places at a decent price. (4) IRELAND FOREVER has been rested for 72 days. The blinkers go on, watch for improvement. Race 7 (1,200m) (5) TRIP TO MAPUTO ran a great race on the Poly last time. Her penultimate run up the straight at Hollywoodbets Kenilworth was impressive. If the gaps open at the right time, she will be hard to beat. (1) BABELICIOUS won a good race last time. Her form is very consistent, include her in all bets. (4) WINTER RAINFALL has run three decent races in succession. Watch her closely at a decent price. (8) SUMMER LILY has been rested for 79 days. Her last run in the Grade 3 Poinsettia Stakes at Hollywoodbets Scottsville was good. If she does not need the run badly, she will run a massive race. Race 8 (1,500m) (5) SUGAR MOUNTAIN has won his last two races. He has a good turn of foot and, from a good draw, he must have a solid winning chance again. (7) PROMETTERE was very unlucky last time, when the gaps opened late and he flew home to finish second. Jockey Richard Fourie knows him well and he will be right there in the finish. (9) SEEKING THE STARS ran a lovely third behind Sugar Mountain last time. If he gets some luck in transit from a wide draw, he could finish in the placings. (4) SONG TO THE MOON ran a fair race last time. He drops in trip, and carries a light weight. He will be doing good work late with jockey Muzi Yeni on board. Race 9 (1,400m) (2) BOOGIEFIED ran a top race last time. He gets a good draw and can run a good race again. (8) AZZURRI won impressively over 1,200m last time. The step-up to 1,400m helps and, if he can get into a good position early from a wide draw, he will have a massive winning chance. (12) HAPPY DAYS has drawn wide again. He has run three excellent runs in succession. If he gets some luck in the running, he will be storming home late. (13) WAR CHARIOT is consistent and Fourie knows him well. The only negative is the bad draw.
