Latest news with #K.NaveenPrabu
Barnama
12 hours ago
- Business
- Barnama
Rubber Prices Likely To Trend Lower Next Week Due To Geopolitical Tensions
By Abdul Hamid A Rahman and K. Naveen Prabu KUALA LUMPUR, June 21 (Bernama) -- The rubber market is expected to trend lower next week, weighed down by escalating geopolitical tensions in the Middle East, according to the Malaysian Rubber Glove Manufacturers Association (MARGMA). A spokesperson from MARGMA said the market sentiment remains fragile and continues to pressure investor confidence and business activities. 'The market may experience a downtrend next week due to escalating geopolitical tensions, persistent global economic uncertainty, and weakening demand from China and the United States. 'The market will remain highly sensitive to regional rubber futures, movements in the ringgit against the US dollar, and fluctuations in crude oil benchmarks,' she said. Meanwhile, industry expert Denis Low said the rubber market is expected to trade cautiously with a lower bias next week, with replenishment activities serving as the primary driver. 'Weather disruptions are another key factor to watch, as the Thai Meteorological Department has warned of intensified Southwest Monsoon activity, which could bring heavy rainfall and strong winds to rubber-producing regions,' he said. On a week-to-week basis, the Malaysian Rubber Board's reference price for Standard Malaysian Rubber 20 (SMR 20) rose by half a sen to 703.5 sen per kilogramme (kg), while latex in bulk increased by 10 sen to 589.0 sen per kg. -- BERNAMA
Barnama
12 hours ago
- Business
- Barnama
Rubber Market Ends Lower On Weak Regional Cues, Oil Price Drop
By K. Naveen Prabu KUALA LUMPUR, June 24 (Bernama) -- The Malaysian rubber market ended lower today, in tandem with the downtrend in regional rubber futures markets, a dealer said. He said the market was also dragged down by the fall in crude oil prices. 'Oil prices declined sharply to their lowest in more than a week on Tuesday as United States (US) President Donald Trump said a ceasefire has been agreed between Iran and Israel, alleviating worries of supply disruptions in the Middle East,' he told Bernama. At the time of writing, Brent crude oil prices declined 2.53 per cent to US$69.67 per barrel. Nevertheless, he said further losses were capped by concerns over dwindling natural rubber raw material supply due to adverse weather conditions in major producer Thailand. 'Flash floods in Thailand ended a second consecutive decline in Japanese rubber futures on Monday, according to broker Hexun Futures. 'Thailand's meteorological agency has warned of heavy rainfall and accumulation that could lead to flash flooding from June 23-27,' the dealer said. At 3 pm, the Malaysian Rubber Board (MRB) reported that the price of Standard Malaysian Rubber 20 (SMR 20) dipped by 6.5 sen to 693.50 sen per kilogramme (kg), while latex in bulk declined by 1.5 sen to 587.00 sen per kg.
Barnama
2 days ago
- Barnama
Flight Delays At Kuching Airport After RMAF Jet Incident Forces Runway Closure
By Prabu KUALA LUMPUR, June 23 (Bernama) -- Batik Air is among the airlines affected by a temporary runway closure at Kuching International Airport (KIA) today, following a runway excursion involving a Royal Malaysian Air Force (RMAF) aircraft. A Batik Air spokesperson confirmed that the airline experienced delays but no cancellations. 'As per my information, our flight was affected by the incident. However, operations are expected to resume as normal by 3pm. 'The delay was caused by a runway excursion, which impacted departures during the usual schedule. Flights were not cancelled, just delayed to clear off the runway,' the spokesperson told Bernama. A spokesperson from Malaysia Airlines also confirmed that one of its flights, MH3530, was delayed for about 45 minutes due to the incident. Malaysia Airports Holdings Bhd had earlier issued a travel advisory stating that the runway was closed from 11.30 am to facilitate the removal of the RMAF aircraft and to conduct safety checks. A notice to airmen was issued, with the closure expected to last until 3 pm. The aircraft involved was identified as an RMAF CN-235 medium transport aircraft, which made a precautionary landing due to an issue with its nose landing gear indicator. No injuries were reported.
