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Daily Express
6 days ago
- Automotive
- Daily Express
Sabah United Chinese Chambers of Commerce praises 24-hour licensing move
Published on: Friday, July 18, 2025 Published on: Fri, Jul 18, 2025 Text Size: Kota Kinabalu: The Sabah United Chinese Chambers of Commerce (SUCCC) has praised the Sabah Commercial Vehicles Licensing Board (Sabah LPKP) for the full activation of its 24-hour Integrated Public Transport Licensing System (ISPKP), describing the initiative as a progressive step toward improving regulatory oversight and service delivery. The commendation came during a courtesy visit by SUCCC representatives to Sabah LPKP, led by Wong Thart Sin, Chairman of SUCCC's Logistics and Transport Committee (LTC) and former Deputy Chairman of the same committee under the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM). Advertisement Wong represented SUCCC President Datuk Michael Lui Yen Sang, and was accompanied by LTC Deputy Chairman Koh Tze Eak and Secretary Amy Hiew Yen Mie. During the engagement, Sabah LPKP Director Dairin Unsir outlined the board's regulatory responsibilities, which include the licensing of all commercial vehicles in the state. In line with Sabah's autonomy and nationalistic economic priorities, LPKP Sabah requires applicants for commercial vehicle permits to meet a minimum local equity ownership of 70 percent. However, concerns were raised during the meeting over the presence of unlicensed commercial vehicles operating in Sabah, as well as the practice of heavy vehicles parking along roadsides, particularly in the Sandakan region, which undermines the board's safety compliance objectives. Wong stressed the importance of prioritising local logistics and transport operators, especially in underdeveloped regions of the state, to ensure the sustainability of SUCCC members' businesses in Sabah's growing transport sector. The session also touched on the expansion of safety and compliance systems such as ICOP and AIS, and discussed SUCCC's potential participation in LPKP Sabah's public engagement forums. In response, Dairin welcomed greater collaboration and extended an invitation for SUCCC to join the Sabah Logistics Council, signalling openness to further dialogue and joint efforts to advance the sector. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
CNBC
15-07-2025
- Business
- CNBC
How to navigate trade war's metals and mining conflicts using ETFs
Recent headlines from President Trump's trade war have extended to the metals market, providing investors with more reason to look at exchange-traded funds that focus on stocks and commodities in the mining sector, and not just the gold and other precious metals trades that have done well in 2025. Last week, Trump announced plans for a 50% tariff on imported copper to go into effect August 1. Then, the Pentagon announced it would become the largest shareholder in rare earth miner MP Materials as the U.S.-China trade war specifically has highlighted the urgent need for the U.S. to shore up its own supply of rare earth elements. MP Materials owns the only operational rare earth mine in the U.S. at Mountain Pass, California, about 60 miles outside Las Vegas. On Tuesday, Apple announced a $500 billion deal with MP Materials for domestic supply of neodymium magnets used in Apple products. The two companies also plan on creating a rare-earth recycling line allowing industrial scrap and electronics to be reused in Apple products. MP's stock has nearly soared since the beginning of the year, up over 270% after the Apple deal, but the broader metals and mining sector has been rising as well. Last week, the SPDR S&P Mining and Metals ETF (XME) hit its highest price since 2011. Both MP Materials and Freeport McMoRan, a major global metals mining company with major copper mines in the U.S., are among the top 10 holdings in XME. After its recent spike, MP Materials has become the second-largest holding in XME, after steel maker Cleveland Cliffs. Meanwhile, the VanEck Rare Earth ETF (REMX) has increased by more than 17% over the last month. Copper prices rose after the Trump tariff announcement, and the metal had its biggest one-day gain since 1989. While U.S. buyers could end up paying $5,000 more per metric ton than other copper buyers around the world, investors are benefitting. Copper is the third-most-consumed metal globally, behind iron and aluminum. The U.S. imports nearly half of the copper it uses, according to the U.S. Geological Survey. FCX owns seven copper mines in North America, and controls four of the five largest U.S. copper mines. Its shares are up over 20% year-to-date. "Copper is the second most used material by the Department of Defense," Trump wrote in a post on Truth Social about the tariff plans. There are several metals and mining ETFs that focus on copper, specifically, including the iShares Copper and Metal Mining ETF (ICOP) and Global X Copper Miners (COPX), both higher by roughly 16% this year; and Sprott Copper Miners ETF (COPP), up a little over 12%. Freeport McMoRan is the largest holding in ICOP and COPP, while No. 2 overall in COPX. It is considered one of the stocks likely to benefit the most from Trump's tariffs, according to Bank of America analysts. Disclaimer
The Star
29-06-2025
- Business
- The Star
Strengthen logistics sector, govt urged
KUALA LUMPUR: The logistics sector is sounding the alarm over escalating operating costs fuelled by economic uncertainties and geopolitical tensions. Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) president Datuk Ng Yih Pyng said it is crucial for the 13th Malaysia Plan and federal budget to prioritise strengthening logistics infrastructure to sustain the sector's competitiveness. 'The ACCCIM Logistics and Transport Committee has been engaging with members to address key issues such as rising operational costs, inspection backlogs and customs clearance efficiency. 'Rising operating costs, driven by increased minimum wage, fuel expenses and upcoming tax implementations on rental or leasing services, pose a significant challenge to our logistics sector. 'The phased 30% tariff hike at Port Klang beginning July 1 is also a pressing issue that could strain industry players,' he said at the ACCCIM Power Chat 6.0 here yesterday. Also present were Transport Minister Anthony Loke, who was the guest of honour, industry players and ACCCIM constituent members. Ng noted that logistics players are also bracing for the indirect effects of US tariffs and the Israel-Iran conflict, which could disrupt supply chains, shipping routes and freight charges. 'Malaysia's total trade reached a record RM2.89 trillion last year, with the freight sector projected to grow by 5.2% annually until 2030. 'The numbers are clear. We must ensure our infrastructure and logistics services are both efficient and adaptable to evolving demands,' he said. Another issue, said Ng, is the backlog of commercial vehicle inspections affecting the implementation of the Industry Code of Practice (ICOP) for transport safety. 'While ICOP aims to enhance safety standards, inspection delays could hinder its effective enforcement. 'Improving customs clearance is urgent as efficient processing is critical for smooth international trade. 'Malaysia's port dwell times are longer than those in Singapore, Indonesia and Vietnam, according to the World Bank's Logistics Performance Index 2023. 'We urge the establishment of a Single Integrated Window to streamline trade and customs operations through digital technology,' he added. On the upcoming 13th Malaysia Plan and federal budget, Ng stressed the importance of focusing on critical areas, particularly the enhancement of logistics and transport infrastructure. 'Strengthening infrastructure, including port upgrades and improving road and rail connectivity, along with developing cold-chain facilities in underserved regions, is vital for ensuring seamless domestic and cross-border supply chains,' he said. He called on the government to establish a transparent and consistent regulatory environment, highlighting that 'clear regulations and uniform application of logistics policies are necessary to reduce uncertainty for industry players navigating compliance and investment decisions'. 'Accelerating digitalisation and promoting green technologies in logistics are crucial. 'Providing grants and incentives will help small and medium enterprises transition to efficient, sustainable operations, especially in high-stakes pharmaceuticals and food safety sectors,' he said. Ng highlighted regional disparities, particularly in Sabah and Sarawak, where inadequate cold-chain infrastructure and inconsistent policy enforcement hinder logistics investment in the region. 'Strategic investment in East Malaysia is not just vital but overdue. Enhancing logistics there will unlock vast economic potential and support regional inclusivity,' he said. Ng also called for enhanced human capital development and road safety. 'A future-ready workforce equipped with digital and technological skills is essential for sustaining Malaysia's logistics competitiveness,' he said, adding that a comprehensive approach to road safety is needed, including road design improvements, safety engineering, public education and strict enforcement. Additionally, Ng highlighted the foundational principles of '4C - Communication, Clarity, Consistency and Collaboration' as essential for fostering effective partnerships between the government and stakeholders. He also commended the Transport Ministry for initiatives like the National Transport Policy and the development of smart port infrastructure. 'Effective execution of these initiatives is crucial for economic impact,' said Ng.
New Straits Times
24-06-2025
- New Straits Times
FRU truck crash: Court issues arrest warrant for lorry company owner
TELUK INTAN: The Magistrate's Court here today issued an arrest warrant for the owner of a lorry company involved in a fatal accident involving nine members of the Federal Reserve Unit (FRU) on May 13. Deputy Public Prosecutor Izzuddin Fakri Hamdan filed the arrest warrant application after the individual failed to appear for today's proceedings on two charges, namely under Section 57 and Section 58 of the Land Public Transport Act 2010. Magistrate Naidatul Athirah Azman set July 29 for mention of the arrest warrant. It is understood that the Road Transport Department (JPJ) has also sent a summons to the owner of the company to appear in court for today's prosecution proceedings. In the incident at 8.54 am on May 13, nine members of FRU Unit 5 based in Sungai Senam, Ipoh died after the truck they were travelling in collided with a lorry loaded with gravel. On May 30, the Land Public Transport Agency (APAD) announced that it had revoked the operating licence of Tashveen Trading, the lorry company that carried the gravel load, effective May 29, 2025. The lorry operating company was found to have failed to comply with the requirements of the Industrial Safety Code of Practice (ICOP), failed to ensure that the Global Positioning System (GPS) was functional and had expired, in addition to carrying a load that did not comply with the type of goods specified in the vehicle permit.
Malaysian Reserve
24-06-2025
- Malaysian Reserve
FRU truck crash: Court issues warrant of arrest for lorry company owner
TELUK INTAN — The Magistrate's Court here today issued an arrest warrant for the owner of a lorry company involved in a fatal accident involving nine members of the Federal Reserve Unit (FRU) on May 13. Deputy Public Prosecutor Izzuddin Fakri Hamdan filed the arrest warrant application after the individual failed to appear for today's proceedings on two charges, namely under Section 57 and Section 58 of the Land Public Transport Act 2010. Magistrate Naidatul Athirah Azman then set July 29 for mention of the arrest warrant. It is understood that the Road Transport Department (JPJ) has also sent a summons to the owner of the company to appear in court for today's prosecution proceedings. In the incident at 8.54 am on May 13, nine members of FRU Unit 5 based in Sungai Senam, Ipoh died after the truck they were travelling in collided with a lorry loaded with gravel. On May 30, the Land Public Transport Agency (APAD) announced that it had revoked the operating licence of Tashveen Trading, the lorry company that carried the gravel load, effective May 29, 2025. The lorry operating company was found to have failed to comply with the requirements of the Industrial Safety Code of Practice (ICOP), failed to ensure that the Global Positioning System (GPS) was functional and had expired, in addition to carrying a load that did not comply with the type of goods specified in the vehicle permit. — BERNAMA
