Latest news with #RM2.88
The Star
22-07-2025
- Business
- The Star
Sarawak Plantation eyes long-term expansion
Phillip Capital Research maintains its projection of CPO growth to be at 15% y-o-y to 122,000 tonnes in 2025. PETALING JAYA: Phillip Capital Research is positive on Sarawak Plantation Bhd 's medium-to-long-term prospects, underpinned by improving yields, disciplined cost control and sustained replanting efforts that are beginning to bear fruit. 'We project the company's fresh fruit bunch (FFB) production to rise to 378,000 tonnes in 2025, an increase of 12% year-on-year (y-o-y), supported by improving yields as more palms enter their prime age and about 1,100 ha of newly matured areas come into production. 'Management remains confident in its growth outlook, targeting more than 420,000 tonnes by 2026 and more than 550,000 tonnes by 2029, underpinned by a more favourable age profile, better field practices and continued mechanisation gains,' the research house said. Replanting efforts over recent years are also starting to bear fruit through improved productivity. While the group has revised its 2025 FFB guidance to 380,000 tonnes (from 400,000 tonnes) due to wetter-than-expected conditions in the first quarter of financial year 2025 (1Q25), crude palm oil (CPO) output is expected to remain flat y-o-y, supported by steady external FFB volumes. 'We expect a sequential recovery in 2Q25, in line with seasonal trends (year-to-date May FFB stood at 131,000 tonnes, a 7.9% rise y-o-y). 'We maintain our projection of CPO growth to be at 15% y-o-y to 122,000 tonnes in 2025.' Overall, the CPO unit cost of own crops is expected to fall to RM2,400 to RM2,500 per tonne in 2025, from RM2,800 per tonne in 2024 and RM2,300 per tonne in 2026, supported by volume recovery and a higher internal FFB share. 'While the February 2025 minimum wage hike is expected to raise labour costs by 3% to 4%, field efficiencies and disciplined cost control are expected to preserve margins. Fertiliser cost pressure remains manageable, with mixed price trends across key input types,' the research house noted. Phillip Capital is maintaining its 'buy' rating with an unchanged target price of RM2.88, based on nine times 2026 earnings per share, in line with small-cap upstream peers. 'Key downside risks include lower-than-expected production and palm product prices, cost inflation and regulatory headwinds,' the research house added.
New Straits Times
09-07-2025
- Business
- New Straits Times
Diesel up three sen, RON95 and RON97 unchanged
KUALA LUMPUR: The retail price of diesel in Peninsular Malaysia has been increased by three sen to RM2.88 per litre for the period of July 10 to July 16. The Finance Ministry said the adjustment follows a recent uptick in global oil prices and was calculated based on the Automatic Pricing Mechanism (APM) formula. The ministry also confirmed that the prices of RON95 and RON97 petrol remain unchanged at RM2.05 and RM3.18 per litre, respectively. Diesel prices in Sabah, Sarawak and Labuan also remain unchanged at RM2.15 per litre. The new rate follows a previous adjustment from July 3 to July 9, during which the retail price of diesel in Peninsular Malaysia was temporarily reduced to RM2.85 per litre. The price of RON97 was also revised during the same period, dropping by three sen from RM3.21 to RM3.18 per litre. Despite the latest increase, the current diesel price remains lower than the RM3.35 per litre set when subsidies were first floated on June 10, 2024. The ministry said it would continue monitoring global oil price trends and take the necessary steps to safeguard public welfare. "The government will continue to monitor market developments and adjust diesel's retail price based on global oil market fluctuations, while supporting price stability," it said in a statement today.
The Star
09-07-2025
- Business
- The Star
Fuel prices July 10-16: Diesel up 3sen, RON95, RON97 unchanged
KUALA LUMPUR: The retail price of diesel in Peninsular Malaysia will be increased by 3sen per litre from July 10 to 16. The Finance Ministry, in a statement Wednesday (July 9) said the retail price of diesel would go up to RM2.88 per litre in the peninsula. The price of diesel would, however, remain at RM2.15 per litre in Sabah, Sarawak, and Labuan over the same period. RON95 and RON97 petrol would also remain at RM2.05 and RM3.18 per litre, respectively, nationwide. It said the prices were set based on the weekly retail pricing of petroleum products using the Automatic Pricing Mechanism formula. "The government will continue to monitor the trends of global crude oil prices and take appropriate measures to ensure the continued welfare and well-being of the people," it added.
The Sun
07-07-2025
- Business
- The Sun
PM Anwar's foreign visits boost trade and investments
KUALA LUMPUR: The Prime Minister's political secretary, Datuk Ahmad Farhan Fauzi, has dismissed opposition claims that Datuk Seri Anwar Ibrahim's foreign visits are frivolous, stressing their role in securing economic benefits for Malaysia. He described the criticism as short-sighted, ignoring the tangible outcomes of these diplomatic efforts. Farhan pointed to a 14.9% rise in approved investments to RM378 billion and a 9.2% growth in trade to RM2.88 trillion in 2024 as proof of the government's success. He contrasted this with the previous administration, which he said lacked vision and stability. 'These trips are not leisure tours but strategic missions to attract investments, reopen FTA talks with the EU, and sign new agreements with EFTA nations,' Farhan stated. He added that Malaysia's trade-to-GDP ratio of 130% underscores the importance of proactive diplomacy. The ongoing visits to Italy, France, and Brazil, including participation in the BRICS Summit, aim to strengthen bilateral ties and advocate for ASEAN interests in global governance, AI, and climate issues. Farhan urged critics to recognise the public's awareness of genuine leadership versus divisive politics. – Bernama
Sinar Daily
07-07-2025
- Business
- Sinar Daily
PM's political secretary slams 'narrow-minded' criticism of overseas visits
Malaysia's proactive approach has yielded tangible results, with approved investments rising by 14.9 per cent to RM378 billion and trade performance increasing by 9.2 per cent to RM2.88 trillion in 2024. 07 Jul 2025 07:50pm France's President Emmanuel Macron (L) welcomes Malaysia's Prime Minister Datuk Seri Anwar Ibrahim prior to a working dinner at the Elysee Palace in Paris on July 4, 2025. (Photo by Ludovic MARIN / AFP) KUALA LUMPUR - Accusations from opposition figures labeling Prime Minister Datuk Seri Anwar Ibrahim's official overseas visits as mere 'sightseeing trips' reveal a narrow-minded misunderstanding of the strategic importance behind these diplomatic missions. Political secretary to the Prime Minister, Datuk Ahmad Farhan Fauzi, said such accusations reflect a lack of comprehension of the complex geopolitical and geo-economic challenges currently impacting the world, Malaysia, and its people. Malaysia's Prime Minister Datuk Seri Anwar Ibrahim (R) and Brazil's President Luiz Inacio Lula da Silva greet each other during the BRICS Business Forum in Rio de Janeiro, Brazil, on July 5, 2025. BRICS leaders meeting in Rio de Janeiro from Sunday are expected to decry Donald Trump's hardline trade policies, but are struggling to bridge divides over crises roiling the Middle East. (Photo by Daniel RAMALHO / AFP) He emphasised that each official visit by the Prime Minister carries significant national agendas, including attracting high-quality investments, strengthening strategic partnerships, opening new markets for Malaysian companies, and championing the voice of developing countries on global platforms such as BRICS. "This is not a mere leisure trip. It is proactive economic and geopolitical diplomacy guided by a forward-thinking vision. "The Prime Minister's economic diplomacy initiatives create strategic new economic opportunities, including resuming Free Trade Agreement (FTA) negotiations with the European Union (EU) and signing FTAs with EFTA countries,' he said in a Facebook post today. Ahmad Farhan highlighted that Malaysia's proactive approach has yielded tangible results, with approved investments rising by 14.9 per cent to RM378 billion, and trade performance increasing by 9.2 per cent to RM2.88 trillion in 2024. He noted the significance of this approach for Malaysia as an open economy, where the trade-to-GDP ratio stands at 130 per cent. "In contrast, during the previous administration, the country's image was not progressive. History shows the political crises that unfolded then. "The era of weak and uninspired leadership - likened to 'seekor belalang di tepi lautan' (a frog in a well), has passed since the MADANI government took office,' he added. Under MADANI's leadership, he said, Malaysia is once again viewed internationally as a principled, stable, and promising partner. Ahmad Farhan further said that Malaysia's effective foreign policy is evident through multi-billion ringgit investments, strategic agreements, and the Prime Minister's active participation in world-class economic and diplomatic forums. "My advice to those narrow-minded opposition figures is to better understand the people. The public does not share your mindset, nor can they be deceived by distorted perceptions. "The people are discerning and know who genuinely works for the country versus those who spread slander, sow division, and engage in 'politics without wisdom,'' he added. Currently, the Prime Minister is leading a Malaysian delegation on official visits to Italy, France, and Brazil since July 1, aimed at strengthening bilateral relations and enhancing trade and economic cooperation with these countries. This includes attending the BRICS Summit in Rio de Janeiro as a partner country and representing ASEAN 2025, advocating regional interests on issues such as global governance, artificial intelligence, climate, and health. - BERNAMA More Like This
