Latest news with #Khor
See - Sada Elbalad
38 minutes ago
- Business
- See - Sada Elbalad
Malaysian Jewelry Exports Surge, Boosted By Gulf ,Asian Markets
Waleed Farouk Both Singapore and the United Arab Emirates are experiencing a significant increase in their purchases of Malaysian gold jewelry, as rising global gold prices have dampened domestic demand, according to the Penang Jewellers Association. Josson Khor, an advisor to the association, said that foreign demand, coupled with strong prices, will push Malaysian gold jewelry exports this year beyond the $2.17 billion recorded in 2024. He noted that about 80% of Malaysian gold jewelry exports come from manufacturers and exporters based in Penang. Khor added, "There is stable demand from overseas markets for Malaysian gold jewelry, as the cost of local craftsmen remains competitive, despite the shortage of this specialized labor." It is worth noting that gold prices remain up more than 26% since the beginning of 2025, despite having retreated slightly from their record peak of $3,431 per ounce last month. According to data from the Malaysia External Trade Development Corporation, domestic gold jewelry exports reached $780 million (RM3.3 billion) during the period from January to April 2025, compared to approximately $6.6 million (RM2.8 billion) during the same period last year. The UAE recorded the highest purchase volume, importing jewelry worth $260 million (RM1.12 billion), a 7.4% increase, while Singapore increased its imports by nearly 16% to $240 million (RM1 billion). Conversely, domestic demand has suffered a significant decline due to high prices, with average retail gold jewelry sales halving from around 10 kg per month, according to Khor. The Penang Jewellers Association has approximately 650 members, more than 60% of whom are small and medium-sized enterprises (SMEs) with an annual turnover of less than RM25 million. Khor warned that continued high gold prices could lead to a further contraction in domestic retail sales, predicting they will fall to around 4 kg per month by 2027. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
New Paper
2 days ago
- Sport
- New Paper
Sweet Love hands Khor 1st feature win in Ipoh
Ipoh trainer Khor Peng Hwa has won his first trophy in Malaysia after Sweet Love's tenacious win in the RM26,000 (S$7,900) Mitavite Asia Cup 2025 (1,100m) in Ipoh on June 8. For good measure, Khor also pulled off his first training double in Malaysia when Crazy Love ($21) scored in the penultimate Sage Hill Northwest Stake (1,200m). More popularly known as Ah Lek, the Malaysian handler - who received his trainer's licence only in April 2025 - opened his account when King Ravana saluted in Ipoh on May 24. One week later on May 31, Khor sent his first and only runner, Golden Peach, to the final meeting held at Penang Turf Club. Golden Peach finished last in a Class 4A race (1,400m) then, but Khor quickly made his way back to the winner's circle on June 8. However, he did not expect the photo finish to be in his favour in Ipoh's feature race. Sweet Love, a seven-year-old son of Outreach, assumed his usual front runner's role under Hafis Saari in the Cosmo C event and led for most of the way, until the Peter Lee-trained Wilamara (Jackie Chuah) closed in strongly on his inside past the 200m. The four-year-old debutant lunged where it mattered. For a moment, it looked to be Wilamara's winning debut in Malaysia, but the photo finish proved otherwise. It was two-time winner Sweet Love ($22) who doggedly held off Wilamara by a nose in the end. Gold Eighty-Three (Syafifie Zailuddin) finished third. Khor's two other runners, Black Thorn (Salee Saad) and King Ravana (Lim Shung Uai), ran unplaced in eighth and 10th respectively. He was relieved the Lim Chun How-owned gelding won, but Khor admitted he thought Sweet Love had lost because the runner-up looked like he was gaining momentum on the leader. "He (Sweet Love) looked like he was beaten, but I'm very lucky he won by a nose," said Khor. "I thought he lost because the horse on the inside came from behind, and looked like he was stronger in the finish. "The ground is good, and the barrier (1) is good for him today. There's only one way to ride this horse, and that's to go in front. I told the jockey to sit up there and don't pressure him. "We'll take one step at a time with him and maybe see if he can back up next week." Riden by Harmeet Singh Gill, Crazy Love also won from barrier to box in the Class 5A contest, albeit he was clearly a length ahead of the second-placed Modric at the finishing post. Khor said the drop in class helped the Outreach five-year-old at his second win. "He was in a Cosmo C race last time (May 24). He's down in class today, so it was easier for him. "I'm very happy with my double today." sharonzhang@
New Paper
25-05-2025
- Sport
- New Paper
King Ravana brings up first career win for Khor in Ipoh
IPOH - Khor Peng Hwa was thrilled to be welcoming his first winner at his third meeting as a full-fledged trainer, when King Ravana took out the opener in Ipoh on May 24. Previously known as Gold Rush when trained by Tan Kah Soon in Singapore, King Ravana ran seventh over 1,400m in his first run for the new Malaysian handler in Ipoh on May 11. He then ground out a tough win in the the RM20,000 (S$6,000) Class 5A event (1,600m) second-up. The $27 shot led in the straight under Saddam Saari. But at the 200m, A Better Tomorrow (Harmeet Singh Gill), on his outside, and Circuit Star (Lim Shung Uai), on his inside, drew level with him. King Ravana fought back with every stride to score by ¾ length from A Better Tomorrow eventually. Circuit Star finished third. Before the Ipoh-born Khor - more popularly known as Ah Lek - received his trainer's licence in April 2025, he was an assistant trainer to the late Dutch-Malaysian trainer Evert van Breukelen, and more recently, Peter Lee. The 60-year-old had tasted success regularly while working under his former bosses, but this time, he won it in his own right. Khor did not dream of working in the racing industry, even if he was born into racing, figuratively. "My father, Khor Sun Yam, was a gardener with the Perak Turf Club, and my family stayed in the staff quarters on the racecourse grounds," he said. "I played with horses in the stables as a kid, but I never thought I would be in racing." Khor studied up to Form Six, but had no idea what to do for his first job. It was then when he recalled enjoying the company of the horses and the excitement of seeing the equine athletes in action. He started out as a syce with trainer Mohd Zafir when he was 20 years old. After working under Loh Kit Soon and Johnny Kok, he joined van Breukelen as a stable supervisor. Khor was also granted his B trainer's licence while with van Breukelen, but when his mentor passed away, he joined Lee for four years. King Ravana's victory did not come easy, but Khor praised the Jimmy Choux eight-year-old for his sheer grit in races. "I am elated to finally saddle my first winner. I want to thank the Perak Turf Club for giving me the licence," said Khor, who is single. "Last time, the 1,400m was a bit too short for him. The 1,600m and 1,800m should be his best trips. "I was not so worried even if he looked a bit one-paced (in the last 200m), because he has a big heart and would always find that extra gear. The last time he won (on March 3, under Lee), he fought back to beat his then-stablemate (Char Kway Teow) by a nose. "He should be up in Class 4 next, which is tougher. We'll see what is available on the programme." Unplaced in 12 starts at Kranji, King Ravana broke through immediately in Malaysia in 2022. He had four consecutive wins for Leong Poh Keong, before picking up two more in 2023 and 2024 when under Lee's care. TURFONLINE
New Straits Times
19-05-2025
- Sport
- New Straits Times
RSGC marks 10th anniversary with new initiative for junior golfers to shine
KUALA LUMPUR: The Royal Selangor Golf Club (RSGC) has announced the upcoming 10th RSGC-SportExcel Junior Invitational Golf Championship (JIGC), set to run from May 20 to 22, 2025. In partnership with the Foundation for Malaysian Sporting Excellence (SportExcel), the event will feature approximately 66 junior golfers from Malaysia, and beyond. Malaysia will field the largest participants with 33 players, while the rest represent neighbouring countries and overseas reciprocal clubs. They are divided into four categories: boys and girls aged 16–18, and boys and girls aged 15 and below. Organising chairman Khor Yew Teik said this year's edition not only marks a historic milestone, but also reflects the organiser's remarkable journey in building an international platform for young talent and the championship, transitioning from a junior open to an invitational event, will be held exclusively at the RSGC, highlighting the club's commitment to providing a platform for elite junior players. "This year is a significant achievement for us as the prestigious tournament celebrates its 10th anniversary. What began as a grassroots initiative has grown into one of the most respected junior invitational championships in the region," Khor also announced a new initiative whereby four top Malaysian players will be selected to represent the country at the Southeast Asia Junior Championship, with all expenses fully covered by the organisers. "This initiative reflects our continued commitment to providing a meaningful development pathway for young golfers, enabling them to grow and represent Malaysia on the regional stage," he added. In last year's ninth edition, the Boys and Girls (16–18 years) categories were won by Jonathan Manuel Wijanto of Indonesia and Ngo Yi Belle of Malaysia, respectively.
Borneo Post
19-05-2025
- Automotive
- Borneo Post
‘Automotive sector must gear up for shift towards EV adoption, digitalisation'
Khor (fourth left) presents a souvenir to Lee. MIRI (May 19): The automotive industry must start preparing for the ongoing transition to electric vehicles (EVs) and the growing need for digitalisation in vehicle trading and ownership. In this regard, the Federation of Motor and Credit Companies Association of Malaysia (FMCCAM) said it was committed to supporting members. Its president Dato Tony Khor said that while EV adoption was increasing globally, in Malaysia, fuel vehicles would remain in use for the next 30 years. 'However, the industry must prepare for change now by building technical know-how and market readiness,' he said during the federation's 47th annual general meeting yesterday. He said since 2019, FMCCAM has partnered with ezAuto, a business-to-business online platform facilitating used vehicle buying and selling among members. However, he noted the used car market has been increasingly dominated by similar platforms owned by large conglomerates from Singapore, Japan and China, which typically keep cars in good conditions for their own sales and pass older or poorer condition vehicles to used car dealers. 'FMCCAM members who rely on these platforms are often at the mercy of their operators, with accounts being frozen if complaints are made after purchasing problematic vehicles. 'Dealers are forced to accept lower-quality cars or risk losing access to these platforms,' he said. He also said government-linked companies (GLCs) have entered the market, acquiring car companies and selling used cars themselves, with the GLCs taking high-quality vehicles first and selling lower-quality cars to dealers via the online platforms they invest in—squeezing dealers' profits. Thus, the federation called on the Transport Ministry to support efforts in addressing these challenge and regulating the growing influence of online platforms controlled by powerful financial backers. On consumer rights, Khor highlighted that used car dealers frequently faced complaints and legal cases from buyers, who would win in court or consumer tribunals. He also noted consumer associations have repeatedly requested the government to introduce a Lemon Law similar to that in the United States, which protects buyers of defective vehicles. 'FMCCAM has opposed this for over 16 years, but recently worked with an insurance company to offer coverage for used car buyers to claim compensation if problems arise,' he said. Meanwhile, Sarawak Transport Minister Dato Sri Lee Kim Shin officiated the opening ceremony and welcomed FMCCAM to Miri. He also reiterated the importance of advancing digitalisation and EV adoption to ensure a sustainable future for the automotive sector in Malaysia and Asean, and pledged the ministry would do its best to support FMCCAM and its members in addressing the industry's challenges.
