Latest news with #MYR
Yahoo
a day ago
- Automotive
- Yahoo
Proton claims early order surge for X50
Malaysia's first national car company, Proton Holdings Bhd, has said it received 5,000 bookings for its all-new Proton X50 within the first ten days after it opened its order book in early July. The automaker launched an 'early bird' promotion campaign, which includes a MYR 1,000 (US$ 236) cash rebate for the first 10,000 buyers. The all-new B-segment X50 SUV, based on the Geely Geely Binyou L, will be officially launched in Malaysia this week, along with full pricing details. Proton claims the new model has 245 new dedicated parts that were developed as a result of more than 400,000 man-hours of R&D in collaboration with Geely. Proton confirmed that production is underway at its Tanjong Malim plant in Malaysia, as the company looks to begin deliveries immediately after the model's official launch, with at least the first 5,000 units expected to be delivered to customers by the end of August. The new X50 is powered by Geely's new i-GT 1.5 TD engine, coupled to a 7-speed DCT gearbox, delivering 133 kW of power and 290 Nm of torque. It also comes with an upgraded ADAS Level 2 system. "Proton claims early order surge for X50" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Business Insider
5 days ago
- Business
- Business Insider
Wheat Price
Agriculture Name Price % Unit Date Cotton 0.67 0.46 USD per lb. 7/17/25 02:16 PM Oats 3.68 -1.14 USD per Bushel 7/17/25 02:16 PM Lumber 659.00 0.46 USD per 1.000 board feet 7/17/25 04:05 PM Coffee 3.13 9.40 USD per lb. 7/16/25 11:14 AM Cocoa 4,791.00 -8.64 GBP per Ton 7/17/25 11:55 AM Live Cattle 2.24 -0.10 USD per lb. 7/17/25 02:05 PM Lean Hog 1.06 1.34 USD per lb. 7/17/25 02:05 PM Corn 4.02 -1.11 USD per Bushel 7/17/25 02:20 PM Feeder Cattle 3.25 -0.25 USD per lb. 7/17/25 02:05 PM Milk 17.46 0.11 USD per 7/17/25 06:00 PM Orange Juice 3.19 2.66 USD per lb. 7/17/25 02:00 PM Palm Oil 4,138.00 -0.48 MYR per Ton 7/17/25 06:00 AM Rapeseed 478.75 1.54 EUR per Ton 7/17/25 12:30 PM Rice 12.52 -1.03 USD per cwt. 7/17/25 02:20 PM Soybean Meal 268.90 0.41 USD per Ton 7/17/25 02:20 PM Soybeans 10.22 0.94 USD per Bushel 7/17/25 02:20 PM Soybean Oil 0.56 2.63 USD per lb. 7/17/25 02:20 PM Wheat 199.50 0.50 EUR per Ton 7/17/25 12:30 PM Sugar 0.17 1.21 USD per lb. 7/17/25 01:00 PM
Focus Malaysia
6 days ago
- Business
- Focus Malaysia
Glove exports drop again in May as inventory consolidation drags on
THE prospects of the rubber products sector remain bleak, in our view, due to the unfavourable operating environment caused by a longer-than-expected period of inventory consolidation. That said, competition remains intense in non-US markets due to the hostile pricing strategy adopted by Chinese manufacturers. 'We also expect the commissioning of new plants in Indonesia and Vietnam to pose a threat to Malaysia's rubber product sales to the US by as early as Nov 2025,' said RHB. According to the Department of Statistics Malaysia, the country's glove exports saw month-on-month (MoM) declines of 22% and 6% in April and May. This suggests that customer restocking activities remain sluggish as the industry experiences a longer-than-expected gestation period following the front-loading that occurred in quarter four 2024 (4Q24). Continued weakness of the USD against the MYR has also further eroded glovemakers' profitability, with the USD depreciating by 3% quarter-on-quarter (QoQ) and 5.4% year-to-date ( YTD)as of June. The pricing power of Malaysian glove manufacturers has diminished since the entry of Chinese manufacturers, based on our observation. We understand that cost pass-through is now more challenging than during the pre-COVID-19 period, as glovemakers are only able to pass on 50% of any cost increase to customers vs a full cost passthrough previously. With no signs of competition easing, we expect glovemakers' profitability to remain under pressure in the near future. Mandatory EPF contribution for foreign labour is set to kick off by October. We expect this to raise glovemakers' cost of production by 0.8-1% (USD0.15-0.20 per thousand pieces). Meanwhile, the expanded sales & service tax (SST) of 5% applicable to imported natural rubber latex and nitrile butadiene rubber (NBR) latex is expected to raise production costs by USD0.25-0.30 (1.3-1.5%). This confluence of factors come at a time when the industry is already grappling with intense competition and limited ability to pass through rising costs to customers. Sector valuation looks attractive, hovering at 0.9x P/B, at 1.2SD below its historical average of 1.2x. However, given the lack of near-term re-rating catalysts, we would not recommend investors to accumulate at this level. As the risk of earnings disappointment in the upcoming August reporting period is high, we think the share price could undergo another round of corrections. The last time the sector was traded at such levels was during 1Q23, where the industry's profit hit a trough level during a period of consolidation. Persistent challenges in cost pass-through, coupled with a rising operating cost environment and a weaker USD are expected to weigh on glovemakers' profitability moving forward. We think cost pass-through will remain challenging, as Malaysia's blended ASPs have hovered between USD19 and USD22 in 1H25, largely unchanged from 4Q24's level. Despite having a competitive edge over Chinese manufacturers – both before and after the announcement of the US reciprocal tariffs – Malaysian glovemakers have been unable to leverage this advantage to raise ASPs. In our view, several factors are at play: i) The pricing formula for gloves primarily comprises raw material prices and FX movements, which means that any price adjustment must be substantiated by those elements (tariff advantages over competitors are not factored in) and ii) customers remain highly price-sensitive, particularly as they continue to manage elevated inventory levels that have yet to be consumed. Natural latex prices last traded at USD1.40 per kg in June vs its average price of USD1.44 per kg in May (-3%). Moving forward, natural latex prices are expected to normalise, thanks to stable supply post the winter season in Thailand (a major latex producing country). Meanwhile, acrylonitrile prices eased 3% MoM in June, averaging at USD1.15 per kg from USD1.18 in May. Moving forward, nitrile prices are expected to ease further due to uneven demand from downstream industries as well as the easing of feedstock prices (ie propylene). The natural gas tariff also spiked 6% MoM in June, averaging at USD3.67 per mmBtu in conjunction with the surge in crude oil prices. Natural gas prices will remain elevated, in our view, primarily driven by the demand-supply mismatch, as supply remains tight. Given the intensifying competition expected in late 4Q25, we hold the view that investor sentiment in the glove industry will remain weak throughout 2H25. In addition, the persistent challenges in cost pass-through, coupled with a rising operating cost environment – due to factors such as the expanded SST and mandatory EPF contribution for foreign workers – and a weakening USD are expected to weigh on glovemakers' profitability moving forward.—July 16, 2025 Main image: The Star
BusinessToday
10-07-2025
- Business
- BusinessToday
Ringgit Opens Firmer As Market Eyes Post-OPR Cut Momentum
The ringgit opened stronger against the US dollar on Thursday, defying expectations after Bank Negara Malaysia (BNM) slashed the Overnight Policy Rate (OPR) by 25 basis points to 2.75% on Wednesday. At 8am, the local currency appreciated to 4.2350/2570 versus the greenback compared to Wednesday's close of 4.2500/2540. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the move likely reflected an initial reaction from traders locking in gains. 'The OPR decision is seen as timely, given heightened economic uncertainties following the United States' tariff shocks,' he told Bernama. He said the rate cut should be positive for the ringgit from a broader perspective, adding that the USD/MYR pair could retrace towards the RM4.23–RM4.24 range today. 'On that note, the ringgit could see some retracement after depreciating 0.27% at yesterday's close of RM4.2520,' he added. He also noted that the US Dollar Index (DXY) held relatively stable at around 97.555 points, as attention shifted to the upcoming Federal Open Market Committee (FOMC) minutes. The minutes suggested that members were open to interest rate cuts as early as the next meeting on July 29–30, 2025. Afzanizam further noted that the current US policy stance was 'moderately restrictive' and inflation appeared to be easing. At the same time, the ringgit also opened higher against a basket of major currencies, except the Japanese yen. It rose against the British pound to 5.7579/7878 from 5.7787/7842 and improved against the euro to 4.9702/9960 from 4.9780/9827. However, it eased slightly versus the yen to 2.8987/9140 from 2.8983/9012. The local note was also stronger across the board against its ASEAN counterparts. It advanced against the Singapore dollar to 3.3096/3271 from 3.3182/3219, strengthened versus the Thai baht to 12.9796/13.0535 from 12.9946/13.0128, edged up against the Indonesian rupiah to 260.4/262.0 from 261.3/261.8, and firmed against the Philippine peso to 7.48/7.53 from 7.51/7.52. Related
Time Out
10-07-2025
- Business
- Time Out
‘The Diary of a CEO' host Steven Bartlett announces Asia speaking tour for September 2025
This one's for the aspiring entrepreneurs, business leaders, and curious minds. Steven Bartlett, the highly influential host of the popular podcast 'The Diary of a CEO', will be touring Asia for the first time ever. Steven is a guy you want to get entrepreneurship advice from, for sure. Raised in Botswana, he founded two companies by the age of 22 – one being Social Chain, a social media marketing agency that achieved significant success with clients such as Apple, KFC, and McDonald's. These ventures made him a millionaire by the tender age of 23. Most prominently, he's the host of 'The Diary of a CEO', an ongoing podcast where he picks the brains of celebrities and business leaders such as Sir Richard Branson, Michelle Obama and Simon Cowell. Intimate, entertaining, and always insightful, the podcast has garnered over 40 million monthly downloads and 1 billion streams. These nuggets of wisdom have been conveniently condensed into his second book, the Sunday Times bestseller 'The Diary of a CEO: The 33 Laws for Business & Life'. Steven has fingers in almost every pie, with more businesses founded in the media, software, and finance spaces, and key investments in the health and wellness industries. He is also empowering the next generation of entrepreneurs through action and advocacy, with a focus on uplifting individuals from BAME and underprivileged backgrounds. Inspired yet? Well, you can catch him in September 2025, when he travels to Singapore, Kuala Lumpur, Hong Kong, Bali, and Jakarta for his The Business and Life Speaking Tour. There's potential for these shows to be seriously life-changing: Steven will share a practical roadmap to success as an entrepreneur, drawing from science-backed research, personal experience, and lessons learned from his many interviews with successful global figures. You can expect actionable steps to transform your mindset, build sustainable ventures, cultivate leadership qualities, and develop strategies for lasting personal growth and success. Read on for all the details related to Steven Bartlett's upcoming Asia tour, including dates, venues, and ticketing prices. Steven Bartlett The Business and Life Speaking Tour 2025 Asia dates and venues: Sep 19: Singapore – Star Theatre Sep 21: Kuala Lumpur, Malaysia – CCEC (Nexus) Sep 23: Hong Kong – Asia World Expo Sep 26: Bali, Indonesia – Westin Nusa Dua Sep 27: Jakarta, Indonesia – Kasablanka Hall How to get tickets to Steven Bartlett's Asia tour? Tickets are available at Here are priority access and general sales times: Priority access registration: July 10, noon - July 14, noon SGT/HKT/MYT/WITA July 10, 11am - July 14, 11am WIB Priority access for those who registered on: July 16, noon SGT/HKT/MYT/WITA July 16, 4am WIB General ticket sales start on: July 17, noon SGT/HKT/MYT/WITA July 17, 11am WIB How much do tickets for Steven Bartlett's Asia tour cost? Singapore: from S$98 Kuala Lumpur: from MYR 280 Hong Kong: from HKD 480 Bali: from IDR 990,000 Jakarta: from IDR 790,000
