Latest news with #249
New Straits Times
7 days ago
- Business
- New Straits Times
Palm slips as weak Chicago soyoil, sluggish demand weigh
KUALA LUMPUR: Malaysian palm oil futures slipped on Wednesday, weighed by weaker Chicago soyoil prices and sluggish demand from key markets, though gains in Dalian soyoil helped limit the losses. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange slid RM41, or 0.96 per cent, to RM4,249 (US$1,005.68) a metric ton at the midday break. The contract rose 2.46 per cent on Tuesday. Crude palm oil futures traded lower as it was pressured by overnight weakness in Chicago soyoil futures, said Anilkumar Bagani, research head of Mumbai-based vegetable oil broker Sunvin Group. "Destination demand also remains fragmented at the moment, which could result in further downward pressure on palm oil prices going forward," Bagani added. However, a bullish momentum in Dalian soyoil and rapeseed oil helped offset some bearish sentiments, thus preventing a larger decline, he added. The MPOB is expected to release its July supply-and-demand data on Aug 11. Dalian's most-active soyoil contract rose 1.4 per cent, while its palm oil contract added 0.4 per cent. Soyoil prices on the Chicago Board of Trade were down 0.09 per cent. Palm oil tracks the price movements of rival edible oils, as it competes for a share of the global vegetable oils market. Oil prices climbed, rebounding from a five-week low hit on the previous day, on concerns of supply disruptions after US President Donald Trump's threats of tariffs on India over its Russian crude purchases. Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. The ringgit, palm's currency of trade, remained unchanged against the US dollar. European Union's soybean imports for the 2025/26 season that began in July had reached 0.97 million metric tons by Aug 3, down 26 per cent from the same period a year earlier, European Commission data showed. Palm oil imports were at 0.16 million tons, down 56 per cent.
Hans India
13-06-2025
- Business
- Hans India
Raymond to list property biz on stock markets
New Delhi: Raymond Ltd will list its real estate business on the stock exchanges in the second quarter of this fiscal year as it has demerged this vertical to tap immense growth opportunities. Raymond Ltd has successfully demerged the real estate business after getting all regulatory approvals and will now focus on engineering vertical. 'We have successfully demerged our real estate business and received all necessary approvals, and we expect to be listing the real estate business in the second quarter of FY26,' Raymond Ltd Group CFO said Amit Agarwal told analysts. According to a transcript of management discussion with markets analysts, Agarwal said the demerger will position Raymond Realty to pursue its growth trajectory as an independent pure-play real estate business. Mumbai-based Raymond Ltd is one of the leading real estate firms in the country. It sold properties worth Rs2,310 crore in the last fiscal year as against Rs2,249 crore in the preceding year. The demerger scheme has become effective from the May 1, 2025, and the record date is May 14, 2025 for the purpose of determining the eligible shareholders of demerged company, Raymond Ltd, to whom the equity shares of the resulting company, Raymond Realty Ltd, would be allotted in terms of the scheme.
Borneo Post
09-06-2025
- Business
- Borneo Post
Sharp land tax increase puts financial pressure on Miri cooperative
Chong (third left) presides over the cooperative's AGM. MIRI (June 9): Koperasi Petani-Petani Miri Berhad has voiced serious concern over a sharp spike in its annual land tax, which has surged by 325 per cent – from RM440 to RM4,249 – posing a significant challenge to its 2025 financial planning. During its annual general meeting yesterday, secretary Oscar Chai revealed that the 2024 budget had only allocated RM1,000 for land tax, leaving a shortfall of RM3,249 due to the unexpected increase. 'The 2024 budget had only allocated RM1,000 for land tax. This unexpected increase left us a shortfall of RM3,429. 'In addition, Telekom Malaysia's rate hike in communication charges resulted in costs exceeding the initial budget by RM3602.10,' said Chai. The cumulative impact of these increases has led to a deficit of RM802.10, he highlighted. To address the situation, members of the cooperative unanimously agreed to adjust and subsidise the budget shortfalls for land tax and communication expenses. Meanwhile, board chairman Chong Vui Kuok proposed an 8.5 per cent dividend pay-out for the 2025 financial year – the highest in recent years – as a gesture of appreciation for members' continued support and contributions. 'In 2024, the cooperative recorded a total income of RM229, 722.00 and a net profit of RM67,433.00. 'This would not have been possible without the tireless support and trust of our members,' said Chong, adding that the board is committed to giving back to members through meaningful dividends. He further explained that the cooperative's income streams are primarily derived from dividends on investments in Bank Rakyat, agricultural land management fees, and rental income from shop lots and fixed deposits. In 2024 alone, it received RM91,439.15 in dividends from its RM554,207.00 investment in Bank Rakyat, he added. The proposed dividend distribution will be finalised upon member agreement and internal approval. Currently, the cooperative has 300 registered members managing over 300 acres of agricultural land. Beyond financial matters, the cooperative also reported efforts to upgrade and maintain critical agricultural infrastructure – including drainage systems, weed control, and road access. It also announced that new land lease agreements are being finalised to ensure fairness and improved returns for members managing larger land plots. These initiatives underscore the cooperative's strategic commitment to sustainable growth, financial prudence, and long-term member benefits. Koperasi Petani-Petani Miri Berhad land tax lead Oscar Chai
IOL News
05-06-2025
- Automotive
- IOL News
It's no 'poor man's Defender': New Hyundai Santa Fe lands in SA, with hybrid power
The new Hyundai Santa Fe is now available in South Africa. Image: Supplied Flaunting a boxy new look that's a far cry from its curvy predecessors, the all-new Hyundai Santa Fe has landed in South Africa. While some speak of Land Rover inspiration in the design, it's not quite a 'poor man's Defender', with Hyundai announcing a price tag of R1,249,000 for the single derivative on offer, the Hybrid Elite AWD. This makes the new, and somewhat lavishly appointed, SUV more expensive than the larger Palisade 2.2D, which costs R1,204,500. Yet it's not the most costly Hyundai on offer as the range-topping Staria retails at R1,263,900. The new Santa Fe is Hyundai's first hybrid product to be offered locally, with the drivetrain combining a 132kW 1.6-litre turbopetrol engine with a 44kW electric motor for total system outputs of 175kW and 367Nm. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading Boxy new design is a far cry from its predecessor. Image: Supplied Although some might miss the diesel option, there is some consolation in the hybrid model's claimed fuel consumption figure of 7.5 litres per 100km. Customers can also adjust the level of regenerative braking. At 4,830mm, the new Santa Fe is 45mm longer than its predecessor, while the wheelbase has grown by 50mm, increasing space for second and third-row occupants. In keeping with its bolder stance, 20-inch alloy wheels are fitted as standard. Interior features include a dual-screen infotainment system with wireless CarPlay and Android Auto, Bose sound system, 360-View Monitor, Blind Spot Collision-Avoidance Assist and Lane-Follow Assist. The seats are upholstered in a synthetic leather called H-Tex, with seat heating for the first two rows and ventilation for the front perches. Squared off design theme continues inside. Image: Supplied
TimesLIVE
04-06-2025
- Automotive
- TimesLIVE
New Hyundai Santa Fe Hybrid arrives in South Africa
The vehicle is fitted with Hyundai's SmartSense driver assistance suite which includes features such as driver attention warning, blind-spot monitoring with collision avoidance, forward collision avoidance (including junction assist), lane-follow assist and a rear occupant alert. The Hyundai Santa Fe Hybrid is available at local dealerships, priced at R1,249,900. The purchase includes a seven-year/200,000km warranty, a six-year/90,000km service plan, and an eight-year/160,000km warranty on the hybrid battery.
