KUALA LUMPUR: Malaysia kept its export duty on crude palm oil for August unchanged at zero percent, according to a circular on the Malaysian Palm Oil Board's website on Tuesday, citing the national customs department. The duty has been at zero percent since September. Malaysia, the world's second-largest producer of palm oil, calculated a palm oil reference price of 1,905.38 ringgit ($463.93) per tonne for August. Any price above 2,250 ringgit incurs a duty. The Southeast Asian nation said in May it would defer the imposition of export duties on crude palm oil to Dec. 31 in efforts to boost palm oil exports and expand into new markets. Malaysian benchmark palm oil futures were down 0.4% at 1,981 ringgit per tonne in early trade on Tuesday. … [Read more...] about Malaysia keeps August crude palm oil export duty at zero percent
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BMW Malaysia has introduced the first-ever BMW X7, a new icon exemplifying the brand’s “new definition of progressive luxury”. The carmaker’s luxury-class Sports Activity Vehicle (SAV) is “the leading case study in modernity, luxury and presence which sets a new benchmark in the luxury segment”. The X7 – the xDrive40i Pure Excellence variant available for Malaysia – blends lavish presence, exclusivity and spaciousness with the versatile and agile driving properties customers would expect from an SAV. The latest and largest model in the BMW X range features outstanding powertrain and chassis technology, offers generous levels of space in each of the three rows of seats, a luxurious ambience and advanced equipment features, to deliver an unparalleled driving and interior experience. Its long list of features include: - Slender BMW Laserlight that can illuminate up to 600 metres ahead, cutting across for a stronger contrast. - 21-inch … [Read more...] about BMW Malaysia launch first-ever X7 and new 7 Series
UMW Toyota Motor Sdn Bhd (UMWT), a joint-venture company between UMW Corporation and Toyota Motor Corporation (TMC) – celebrated their 50 years of local production in Malaysia with a special ceremony held at its new manufacturing facility in Bukit Raja, Klang, Selangor, this morning. The milestone event was graced by the Sultan of Selangor, Sultan Sharafuddin Idris Shah, who was accompanied by the Tengku Permaisuri of Selangor, Tengku Permaisuri Norashikin. Also present were the Mentri Besar of Selangor Amirudin Shari, Japan ambassador to Malaysia Dr Makio Miyagawa, Toyota Motor Corporation Japan (China & Asia region) CEO Tatsuro Ueda, Selangor state government and federal government officers, Toyota Motor Corporation representatives, business partners, UMWT top management and other guests. In his speech, UMWT chairman Tan Sri Hamad Kama Piah Che Othman expressed his gratitude to the state government as well as the federal government for their tremendous support over the … [Read more...] about 50 years of making Toyotas in Malaysia
Political giant Anwar Ibrahim may be prime minister-in-waiting, but one year on, his position is still shrouded in uncertainty. The plan by the victorious Pakatan Harapan (PH) coalition had been for the Parti Keadilan Rakyat (PKR) president to succeed Tun Dr Mahathir Mohamad as Prime Minister. And in February this year, Mr Anwar was quoted in a Bloomberg report as saying that he expected to take power from Dr Mahathir in less than two years, but wanted to give the current leader enough time to govern effectively before he assumed control. Still, the wait seems longer than expected, raising questions about whether it will materialise. Datuk Seri Anwar, 71, was the deputy prime minister between 1993 and 1998 before he was sacked by Dr Mahathir - who was also prime minister then - amid allegations of homosexuality and corruption that eventually led to him being jailed for six years. Later, in February 2015, Mr Anwar was jailed again, this time for five years, after a second sodomy … [Read more...] about When will Mahathir hand over to Anwar?
By The Associated Press Tues., April 30, 2019 SEREMBAN, Malaysia - Malaysia on Tuesday destroyed nearly four tons of elephant tusks and ivory products estimated to be worth 13.26 million ringgit ($3.2 million) as part of its fight against the illegal ivory trade. Water, Land and Natural Resources Minister Xavier Jayakumar said the ivory was confiscated in 15 raids between 2011 and 2017. The tusks, which were marked, and products such as ivory bracelets and chopsticks were shown to reporters before they were to be thrown into a large incinerator in southern Negeri Sembilan state. Jayakumar said the tusks and products were burned to ensure they wouldn’t be stolen and sold back in the black market. He said Malaysia is committed to eradicating trading in illegal wildlife, especially in ivory, and to stop smugglers from using Malaysia as a transit hub. Article Continued Below This was the second time Malaysia has disposed of its tusk stockpile, after burning … [Read more...] about Malaysia destroys 4 tons of ivory tusks, products