Day: October 11, 2024

Gold futures on Bursa Malaysia Derivatives finished higher today as the US dollar retreated ahead of the US Producer Price Index data release later tonight. The spot-month October 2024 gold futures contract increased to US$2,645.90 per troy ounce from US$2,625.50 per troy ounce yesterday, while November 2024 improved to US$2,667.70 per troy ounce compared to US$2,647.30 per troy ounce previously. Meanwhile, the December 2024, January 2025 and February 2025 contracts all settled firmer at US$2,669.10 per troy ounce from US$2,648.70 per troy ounce yesterday. Trading volume improved to 24 lots from 19 lots yesterday, while open interest widened to 53

The ‘Gateway to Borneo’ campaign being held in Penang for the first time is aimed at introducing a tourism market segment and attracting more tourists from the Pearl of the Orient to Borneo, particularly Sarawak. Sarawak Tourism Board (STB) chairman Datuk Dennis Ngau said the campaign which is being held at a shopping complex in Bayan Lepas, near here, began yesterday and will end on Oct 13, The event will promote the unique culture of the ‘Land of the Hornbills’ directly to Penang residents. “I am confident that with Penang’s population of over one million residents and as a state

The maritime community is advised to always focus on safety aspects at sea and to be alert to the warnings of heavy rain, strong winds, and rough seas issued by the Malaysian Meteorological Department (MetMalaysia). Penang Malaysian Maritime Enforcement Agency (MMEA) director Maritime Captain Razali Kasim said it was to prevent tragedies due to the public’s lack of sensitivity to the erratic weather at sea because a body count from 11 fatalities due to various incidents at sea was recorded from January till yesterday. ‘The MMEA does not rule out the possibility that some of them were caused by the

Malaysia aims to become a leading producer of wood-plastic composite (WPC) materials, which are increasingly recognised globally as durable and eco-friendly building products. Malaysian Timber Industry Board (MTIB) chairman Datuk Larry Sng Wei Shien said the country possesses ample resources and expertise to produce high-quality WPC products to meet market demand. “Demand for WPC materials is growing with an estimated global market value last year amounting to USD7.5 billion, of which the building and construction products segment is the largest user. “Thus, we have started producing WPC material made from wood and plastic waste that can be recycled. I believe

The Department of Statistics Malaysia (DOSM) successfully attained 105 per cent result from the implementation of the Agriculture Census which began on July 7 and concluded yesterday. Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the result of the census will serve as the foundation for the preparation of food security indicators and the development of the Malaysia Statistical Agriculture Register (MySAgR). “The main objective of the census is to obtain a comprehensive structure and characteristics of the agriculture sector in terms of agricultural holdings. It provides the overall picture of the nation’s agriculture sector, covering four main subsectors:

Crude palm oil (CPO) futures on Bursa Malaysia Derivatives snapped a three-day losing streak to end higher on Friday as concerns over stronger exports in the coming weeks supported near-term sentiment, a trader said. Palm oil trader David Ng said expectation of weaker production in the coming weeks also helped to lift prices. ‘Expectation of stronger exports and weaker production in the coming weeks is likely to result in overall lower stocks in the country, which is positive for prices. ‘We see support at RM4,230 (per tonne) and resistance at RM4,450,’ he told Bernama. Yesterday, the Malaysian Palm Oil Board