(Feb 3): Eneos Holdings Inc plans to expand its team to handle more oil-derivative trading at its overseas offices including Singapore, as Japan’s largest refiner looks to increase its presence at major trading hubs. Eneos will hire traders, as well as other executives in supporting roles, said headhunters with knowledge of those plans. Kenneth Quek, a former trader from Mercuria Energy Group, recently joined in Singapore to focus on crude and related derivatives. Bloomberg previously reported that Eneos was a frontrunner in the process, ahead of rivals including trading houses Glencore plc and Vitol Group. India’s state-owned refiner Bharat Petroleum Corp is also planning to set up a trading arm in Singapore this month.

SINGAPORE (Feb 3): A senior Rolls-Royce executive on Tuesday defended recent price rises and improvements in performance after airlines accused engine makers of profiting from supply chain problems. Rob Watson, president of Rolls-Royce's civil aerospace division, said engine pricing reflected supply chain disruptions and the fallout from geopolitical instability. "I think that our pricing reflects supply chain disruption coming out of Covid," Watson said in an interview on the sidelines of the Singapore Airshow. We're reflecting raised costs, which are driven by all those supply chain challenges that everybody talks about," he added. Watson said the British engine maker was "on track" with a programme of improvements in the durability of its largest engine for the long-haul Airbus A350-1000.

(Feb 3): China wants more copper in its state stockpiles, according to a senior metals industry official, a move that would add to upward pressure on prices and highlight a growing push by governments to bolster supply security. The country will expand the size of its strategic copper reserves and also work with major state-owned producers to boost commercial inventories, Duan Shaofu, deputy secretary general of the China Nonferrous Metals Industry Association, said at a press conference on Tuesday. The plan comes just days after copper prices spiked to a record high, and is the latest sign that copper is becoming even more of a strategic asset as major economies fret about supply-chain risks. China already maintains strategic stockpiles of commodities such as copper, oil and cobalt to support industrial activity and protect Asia’s biggest economy from supply disruptions. The country is also assessing the possibility of adding copper concentrate into its reserves, Duan said, without elaborating.

“I was told that this is also due to frequent breakdowns of rubbish lorries, forcing KDEBWM to bring in lorries from other areas, causing delays. Yip urged residents to lodge formal complaints through the Public Complaints Management System (Sispaa) whenever there are delays in rubbish collection. Mike Chong said Puchong Hartamas 1, where he lives, had also been facing inconsistencies in rubbish collection. “This would disrupt the rubbish collection at households,” he said. Puchong resident Chong said this regulation should be reviewed pragmatically as waste management is a critical public service.

Petaling Jaya City Council (MBPJ) has installed two closed-circuit TV (CCTV) cameras at Jalan SS4C/5 to stop illegal parking that has plagued the Kelana Jaya, Selangor, neighbourhood. Leong showing the proposed entry along Jalan SS4C/1 to the open-air carpark that can serve the commercial area. Leong said the disparity between commercial growth and parking availability had forced motorists to park along narrow road shoulders and junctions, creating safety hazards. He explained that the existing entry point to the carpark along Jalan SS2/1 was about 1km from the commercial area. Harvinder says parking chaos at the SS4 commercial area leads to safety fears.

TAMAN Desa Aman residents in Cheras, Kuala Lumpur, have been granted leave by the High Court to pursue a judicial review against a development order (DO) for an urban renewal project in their neighbourhood. The DO, issued by the Kuala Lumpur mayor, involves construction of two high-rise condominium towers, of 38 and 44 storeys, containing 700 new residential units. Desa Aman Residents Association (Rada) is seeking to quash the DO, contending that it contravenes Kuala Lumpur Structure Plan 2020 (KLSP 2020) and Kuala Lumpur City Plan 2020 (KLCP 2020). “Approving higher density would substantially increase the population density, potentially contributing to traffic congestion. The case management is set for Feb 12 at Kuala Lumpur High Court.

GEORGE TOWN: A factory manufacturing plastic trophies and medals on Kampung Jawa Highway, Bayan Lepas Industrial Area near here, was destroyed in a fire Tuesday (Fab 3), but no casualties were reported. Penang Fire and Rescue Department deputy operations director John Sagun Francis said they received an emergency call at 9.10am and immediately rushed fire engines from the Bayan Baru Fire and Rescue Station to the scene. "When firemen arrived at the scene, the fire was already raging, involving a factory building with an estimated area of 232 square metres. "The fire also involved flammable materials including thinner, primer, hexane and colour pigments stored in the premises," he said in a statement. John Sagun said the fire was extinguished at 11.40am, and overhaul work was carried out to ensure there were no hazards in the affected area, with operations concluding at 12.26pm.

KOTA BARU: The Kelantan Immigration Department arrested two local men and five illegal immigrants in a crackdown on a migrant smuggling syndicate, carried out under Ops Serkap around Kota Bharu on Sunday and Monday (Jan 2). Its deputy director, Nik Akhtarulhaq Nik Abdul Rahman, said the five immigrants comprised two men and three women from Myanmar, aged 20 to 40. "The five immigrants are now being detained at the Tanah Merah Immigration Depot for further investigation under Section 6(1)(c) of the Immigration Act 1959/63," he said in a media statement on Tuesday (Feb 3). Nik Akhtarulhaq said the two local men arrested were believed to have acted as transporters in the smuggling network and were being investigated under Section 26J of the Anti-Trafficking in Persons and Anti-Smuggling of Migrants Act 2007. He stressed that the department would not compromise with any party, particularly locals involved in smuggling activities or harbouring undocumented migrants, and urged the public to report any activities involving illegal immigrants to aid enforcement efforts in the state.

(Feb 3): Nintendo Co’s profit rose a smaller-than-expected 23%, hurt by US tariffs on its flagship Switch 2 console and raising concerns about the impact of soaring memory chip prices on margins in 2026. Switch 2 sales came to 7.01 million units in the December quarter, compared with the 6.5 million average analysts’ estimate. But operating income was ¥155.21 billion (US$998.5 million or RM3.92 billion), missing estimates for ¥180.7 billion. Longer term, the Japanese company has to cope with surging memory prices that threaten the gadget’s already razor-thin margins. That’s resulting in rising memory prices that may also hurt software sales, Nintendo’s primary profit engine.

CHINA sees strong potential to deepen industrial, technological and people-to-people collaboration with Penang, Kedah, Perak and Perlis as its next five-year development plan aligns closely with Malaysia’s own growth priorities. Chinese Consul-General in Penang Zhou Youbin said in an interview that China’s upcoming 15th Five-Year Plan, which will run from this year, placed heavy emphasis on high-quality growth, technological self-reliance and emerging industries. Zhou: Chinese investment shifted to automated, tech intensive and environmentally friendly sectors. He said Chinese companies in sectors such as photovoltaics, electric vehicles and lithium batteries had in recent years expanded their presence in northern Malaysia. These clusters, he said, had attracted more upstream and downstream players, helping to build more complete industrial ecosystems and becoming key highlights of investment cooperation between the two sides.

RM2 ice cream. Suddenly, that cheap ice cream doesn’t feel so cheap. Yet, franchisees will tell you that cheap products do not necessarily translate into cheap operations. While cheap ice cream and beverages may sell fast, margins are slim, leaving volume to do most of the heavy lifting. Cheap ice cream and beverages are easy to enjoy.

JOHOR BARU: The Johor Malaysian Immigration Department arrested a local man believed to be an agent for a “flying passport” syndicate in an operation codenamed Ops Serkap at a condominium in Taman Daya here on Jan 29. Its director, Datuk Mohd Rusdi Mohd Darus, said the operation at 6.50pm was carried out based on intelligence gathered by the Enforcement Division over nearly two weeks. He said his team also seized nine foreign passports used to enter and exit the country. "It is believed the passports were used to obtain security stamps irregularly (illegally)," he said in a statement on Tuesday (Feb 3). The public is advised not to hand over their passports to any party and to report any information regarding such activities immediately to the Immigration Department.

The UBS SDIC Silver Futures Fund LOF will be valued based on prices in silver futures on major global markets instead of those listed at the Shanghai Futures Exchange, according to statements from UBS SDIC. The change, which came into effect on Monday (Feb 2), led to a record 31.5% drop in the product’s net asset value. Last month’s rally in precious metals came to a halt on Friday when spot silver prices plunged more than 25%. The LOF fund mainly invests in silver futures listed on the Shanghai bourse, which are bound by a 17% daily limit, while global futures markets have no price caps. The adjustment came as silver futures on the Comex tumbled 32.7% in the prior two sessions as a frenzied rally, partly fuelled by Chinese speculators, ground to a halt.

GEORGE TOWN: A team of ­elderly trishaw riders here will be looking dandy this Chinese New Year. “This is to show our appreciation for the sacrifices of the tri­shaw riders who have added ­colour to Penang’s streets for ­decades. One of the trishaw riders, Koah Ah Chin, 79, said he has been ­plying the trade for over 40 years. The riders had another thing to add to the cheer – each of them also received an angpow. “My trishaw is my room now, and I use the public washrooms nearby,” he said.

KUALA LUMPUR: Following Thaipusam, cleanup crews swung into action at the Sri Subramaniar Swamy Temple in Batu Caves. This is despite the efforts of non-governmental organisation Clean Thaipusam, which had placed cardboard bins for waste disposal outside the entrance to Batu Caves. Although Thaipusam has ended, visiting Batu Caves – a sacred site for Hindus – is considered a must for tourists visiting Malaysia. Indian nationals C. Vivek and Rakshitha Vivek said visiting Batu Caves and viewing the Lord Muruga statue was an eye-opening experience. German Muriel Kutschera said a visit to Batu Caves is a must for her and was excited to be at this beautiful holy site.