Day: August 6, 2024

KUALA LUMPUR, The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives continued to end on a low note on Tuesday due to weakness in the Chicago soybean oil market, said palm oil trader David Ng. Ng also said that concerns over rising production are taking a toll on prices. “We see support at RM3,650 and resistance at RM3,890,” he told Bernama. Meanwhile, Mumbai-based Sunvin Group’s commodity research head, Anilkumar Bagani attributed the market’s performance to the sharp selloff in soybean oil on the Chicago Board of Trade, Euronext rapeseed futures overnight, and Chinese vegetable oil futures during Asian

KUALA LUMPUR, The government will look into the need to extend the incentive for employers under the Progressive Wage Policy (PWP) from 12 months to 24 months to enable employers to benefit from high productivity and skilled workers under the programme, said Economy Minister Rafizi Ramli. He said that this was based on the impact assessment made of the pilot project which was carried out from June to August 2024. ‘This pilot project is for us to see how this system operates, as well as the feedback we can get. ‘We want to make sure the learning curve that we

GEORGE TOWN, A total of 527 types of sex stimulants containing scheduled poisons and unregistered products as well as 11 digital devices, all worth about RM4.4 million, were seized under Ops Legacy 2.0 in Penang, Kedah and Johor on July 30. The illegal products were seized through 24 raids by the pharmaceutical enforcement branch of the Ministry of Health (MOH) in the three states, which is the largest operation held this year. MOH pharmacy enforcement division director Mohd Zawawi Abdullah said that after carrying out intelligence and surveillance for the past two years on the proliferation of sex stimulants, the

GEORGE TOWN, Members of parliament (MPs) who fail to attend Dewan Rakyat sessions for a certain period risk losing their allowances once the Parliamentary Services Act (PSA) comes into effect. Dewan Rakyat Speaker Tan Sri Johari Abdul said attendance requirements for MPs are clearly stipulated in the law, noting that those who are absent for six consecutive months without a valid reason may lose their seats. However, so far, no MPs have lost their seats due to this reason, he said. ‘Nonetheless, I must reiterate that MPs are elected by the people to attend Parliament. So, I am suggesting that

KUALA TERENGGANU, Fishermen involved in selling diesel at sea will lose their fuel subsidy, said Fisheries Development Authority of Malaysia (LKIM) chairman Muhammad Faiz Fadzil. He said an order to close the premises will also be taken against any fisherman’s diesel sales centre that is found to be carrying out illegal activities. “We will take immediate action to close these fishermen’s diesel sales centres if there are leaks and irregularities involved. If fishermen are involved, we will cancel their eligibility to get subsidies,’ he said after officiating the Rahmah Mesra MADANI with Fishermen Programme in Pelabuhan Chendering here today. “From