Asean News

KUALA LUMPUR: Subur Tiasa Holdings Bhd posted its highest quarterly profit in more than 10 years, as palm oil prices jumped to multiple-year highs. The group’s timber operations also reported improved results due to increased sales volume. Net profit in the three-month ended July 31 was RM19.4mil compared with a loss of RM26.75mil made a year ago. Revenue rose to RM106mil from RM72mil previously. For quarter-on-quarter (q-o-q) review, revenue and pre-tax profit increased by RM32.9mil and RM24.1mil respectively, mainly contributed by 79% increase in crude palm oil price. from RM2,335 per tonne to RM4,183 per tonne,” it said in a filing to Bursa Malaysia yesterday. Subur Tiasa expects its palm oil division to generate higher earnings, underpinned by higher fresh fruit bunches (FFB) production during the peak crop season. “The CPO price is expected to remain firm in line with tight supplies as overall FFB yield per hectare in Malaysia is on the declining trend aggravated ... » Learn More about Subur Tiasa posts RM19.4mil net profit in Q4

French President Emmanuel Macron (2nd L) and former Australian prime minister Malcolm Turnbull (3rd L) stand on the deck of a Collins-class submarine in Sydney in May 2018 -- reports say that an expected security deal with the United States and Britain could derail Australia's plans to purchase French submarines SYDNEY - The United States, Australia and Britain are expected to announce a landmark security pact on Wednesday that could see a multi-billion-dollar Paris-Canberra deal on submarines scrapped, Australian media reported. The pact, known as AUKUS, would allow the three allies to "share advanced technologies, including nuclear submarine technology," The Sydney Morning Herald reported. The official announcement is expected later Wednesday, according to reports. The White House said US President Joe Biden would deliver "brief remarks about a national security initiative" at 5 pm (2100 GMT). He will be joined virtually by Australian Prime Minister Scott Morrison and British ... » Learn More about US, Australia and UK to unveil landmark security deal: reports

Bangkok's residential market will improve next year as supply and demand will be more balanced, while foreign buyers, particularly Chinese, are still interested in Thai property, according to property experts. Suphin Mechuchep, chairperson of property consultant JLL Thailand, said potential future demand for Bangkok's residential market include foreigners whose demand would increase due to remote working flexibility. "Those working at the office for three days and at home for two days may create new requirements," she said. "Growing demand will also derive from the gig economy with gig workers from other countries and digital nomads around the world." She said Bangkok continues to be an attractive option for foreigners, mainly attributed to the lower cost of living. However, demand from foreigners will be higher once the borders are fully opened. "We should prepare the public health system and pandemic controls like last year, while at least 80% of people in Bangkok and ... » Learn More about Bangkok market to improve in 2022

PUTRAJAYA: More economic sectors, including ones in states under Phase One of the National Recovery Plan, will be allowed to operate beginning Friday. “Also, for states under Phases Two, Three and Four, face-to-face or physical meetings are allowed for individuals who have been fully vaccinated,” said Prime Minister Datuk Seri Ismail Sabri Yaakob ( pic ). For states under Phase One, a list of businesses will be allowed to operate provided the vaccination conditions are met. The businesses are photography shops and services; used items shops; nurseries and florists; souvenirs and crafts; antique shops and toy shops. Also allowed to operate under Phase One are carpet shops; creative content and equipment shops; outdoor shops, cosmetic shops as well as tobacco shops including outlets selling vape products and electronic cigarettes. In announcing this, Ismail Sabri said the private sector in states under Phase Two can now operate at 60% capacity, if 40% of their employees are ... » Learn More about More sectors opening on Friday

JOHOR BARU: The Johor Department of Environment (DOE) has identified the cause of the pollution at Kampung Baru Sri Aman, near Kempas here, and is conducting further investigations at the suspected premises used for lorry storage, says Environment and Water Minister Datuk Seri Tuan Ibrahim Tuan Man. The authorities, he added, had arrested nine suspects, including the owner of the place and his workers, to assist in investigations. “Some companies have been parking their lorries there for a long time,” he said when met after visiting the scene yesterday. Tuan Ibrahim said investigators found evidence of waste being dumped into the river. “The culprits used pipes to channel the waste from the lorries into the river. We believe they have been doing this for a long time and usually when there was rain, causing the oily substance to flow downstream. “Maybe this time around, the volume was too much as we see oil slugs at some branches along the riverbank,” he said. Tuan Ibrahim ... » Learn More about Lorry storage facility suspected to be the culprit

JOHOR BARU: A gas-like stench from a chemical spill at Kampung Baru Sri Aman here has ignited fear and anger among the villagers, raising the spectre of the Sungai Kim Kim pollution in the state two years ago. Contractor Yahya Mohd Nasir, 56, was asleep when he got a call from his neighbour at around 10.30pm on Tuesday alerting him to the foul smell. “I got up to open my front door and was immediately greeted by the strong gas-like odour. “I noticed there were diesel-like substances in the drain around my house, too, which emitted vapour. “I quickly held a towel to my nose and mouth and shut the door, but the smell was still quite strong,” he said when met yesterday. The neighbour who called him, said Yahya, later experienced breathing difficulties and dizziness and was sent to the hospital for medical attention. He added that some firefighters who had come to their village advised them to evacuate and move to a multi-purpose hall nearby. “Concerned about the Covid-19 ... » Learn More about Haunted by toxic spill again

KUCHING: Fully vaccinated individuals will be exempted from mandatory quarantine upon arrival in Sarawak from other parts of Malaysia, says the state disaster management committee. It said the decision, which comes into effect today, takes into consideration the increased level of vaccination in the country. Individuals must still apply for entry via the EnterSarawak app or website, fill in the e-health declaration form and submit proof of their vaccination status. They must also provide a negative result from a PCR test within three days before travel. “Children below 18 entering Sarawak with their fully vaccinated parents will be exempted from quarantine. “However, they are advised to do self-monitoring at home for 10 days,” the committee said yesterday. The committee said unvaccinated individuals or those who have not completed their vaccination must still undergo 10-day quarantine at a designated quarantine hotel upon entry into Sarawak. It also said there were no ... » Learn More about Sarawak eases quarantine requirements

PETALING JAYA: SHL Consolidated Bhd ’s net profit for its first quarter ended June 30, 2021, rose to RM9.74mil from RM1.53mil in the previous corresponding period, mainly due to higher revenue generated by its property development segment. In a filing with Bursa Malaysia yesterday, the company said revenue in the first quarter grew to RM33.61mil from RM7.13mil a year earlier. “The property development segment continues to be the key contributor registering a revenue of RM23.51mil for the three months period ended June 30, 2021, representing about 69.9% of the consolidated revenue." “The property development segment will remain focused on building landed properties and affordable value homes with readily available mortgage financing facilities from banks.” Commenting on its prospects, SHL said it will focus on projects in Bandar Sungai Long, Goodview Heights in Sungai Long South, Alam Budiman in Shah Alam and Rasa in Batang Kali, as well as developments in Selangor. ... » Learn More about Property development spurs SHL

The Xayaburi hydroelectric power plant, with capacity of 1,285 megawatts, in Laos. CK Power Plc (CKP), a power generation arm of CH Karnchang Plc, is going ahead with its feasibility study to build a hydroelectric power plant near Luang Prabang on the Mekong River in northern Laos following a delay caused by the impact of the pandemic last year. Muntana Auekitkarjorn, CKP's deputy managing director for corporate planning, said the Luang Prabang project, its third hydro power plant in Laos, is estimated to have a development cost of 150-160 billion baht. She said the study will be conducted alongside negotiations over a power tariff rate with the state-run Electricity Generating Authority of Thailand, which will be a power buyer. The Luang Prabang project is intended to be built on the Mekong mainstream in Houygno village, about 25 kilometres from Luang Prabang, according to the Mekong River Commission's website. It is a run-of-the-river dam, estimated to generate 1,460 ... » Learn More about CKP moves forward with planned Laos hydro plant

SCB Economic Intelligence Center (SCB EIC), the research house of Siam Commercial Bank (SCB), has forecast Thailand's economic recovery would be delayed until mid-2023 because of the impact of the prolonged pandemic. The research house predicted Thailand's economy would return to the 2019 level in the middle of 2023, a delay from the beginning of 2023 as previously projected. The delayed recovery is mainly due to the continuing infections, said its chief economist Yunyong Thaicharoen. Under this scenario, SCB EIC has slashed the country's GDP growth projection for 2021 from 0.9% previously to 0.7%, mainly caused by lower domestic consumption. The government's lockdown measures to contain new cases have severely affected domestic consumption. As a result, the research centre has cut its domestic consumption growth forecast from growth of 0.1% earlier to a 0.8% contraction this year. Even though the export sector is the key engine of Thailand's growth momentum, supply chain ... » Learn More about SCB EIC sees recovery in mid-2023