DUBAI (Feb 9): Malaysian palm oil-based products namely food products, cosmetics and pharmaceuticals will be made available at LuLu Hypermarkets in Dubai, following a collaboration sealed between the Malaysia Palm Oil Council (MPOC) and Lulu International Group. Malaysian palm oil exports in 2021 were recorded at 15.56 million tonnes, while production was at 18.14 million tonnes. Malaysian palm oil and palm oil products exported to the Middle East amounted to 2.4 million tonnes, with a value of US$1.7 billion. The United Arab Emirates took up 10% of the total palm oil and palm oil products exported to this region, valued at US$192 million. The estimated export value of palm oil and palm oil products to the Middle East in 2021 was approximately US$2.5 billion.

BENGALURU: Valuations of Asian equities dropped to a 21-month low at the end of January, as expectations of aggressive policy tightening by the Federal Reserve, and a surge in U.S. bond yields hit the regional stocks. That compares with the MSCI World index's P/E ratio of 17.24. China's Shanghai Composite Index declined 7.6% last month, which pulled down its forward P/E ratio to 10.18, the lowest in Asia. On the other hand, Indian shares were the most expensive in the region, with a forward P/E of 20.42. However, some analysts said Asian equities look attractive at these levels.

SHAH ALAM: A nasi lemak seller had no choice but to package the popular dish without eggs because it has been difficult to get supply for the past two weeks. Muhd Amareza Abu Bakar, 26, who sells nasi lemak at Section 30 here, said he had been getting complaints from customers who wanted their nasi lemak with eggs. “I have been selling nasi lemak for the past two years. Customers who want nasi lemak with eggs for their children have been complaining," he said. He added that he sells nasi lemak both in the morning and evening, and eggs are usually sold out early.

IPI Dec 2021KUALA LUMPUR: The Industrial Production Index (IPI) increased 5.8 per cent in December 2021 as compared to the same month of the previous year, the Department of Statistics Malaysia (DoSM) said.Chief statistician Datuk Sri Mohd Uzir Mahidin said the expansion of IPI was contributed by the increment of 8.4 per cent in the manufacturing index and 3.7 per cent in the electricity index but the mining index recorded a decline of 2.5 per cent. "On a month-on-month basis, the IPI increased by 1.3 per cent driven by the manufacturing, mining and electricity indices,” he said in a statement today.He said the manufacturing sector output increased by 8.4 per cent year-on-year in December 2021 after recording a growth of 11.3 per cent in November 2021. "The main subsectors that contributed to the growth in the manufacturing sector in December 2021 were electrical and electronics products (18.2 per cent), food, beverages and tobacco products (10.3 per cent) and non-metallic mineral products, basic metal and fabricated metal products (5.3 per cent),” he said.Simultaneously, he said the growth of the manufacturing sector was driven by both export-oriented industry (9.6 per cent) and domestic-oriented industry (5.7 per cent). "Subsectors which surpassed the manufacturing index in 2019 were electrical and electronics products (17.2 per cent), petroleum, chemical, rubber and plastic products (12.2 per cent), food, beverages and tobacco (0.2 per cent). "While the subsectors that have not yet recovered were non-metallic mineral products, basic metal and fabricated metal products (-9.2 per cent), textile, wearing apparel, leather and footwear (-6.4 per cent), transport equipment and other manufacturers (-4.5 per cent) and wood, furniture, paper products and printing (-1.4 per cent),” he added.

PETALING JAYA: Malaysia’s borders are set to fully reopen on March 1, says National Recovery Council (NRC) chairman Tan Sri Muhyiddin Yassin. “It was recommended by the NRC that the country's borders be fully opened in due time to support the nation's recovery. "The opening of the nation's borders needs to be done accordingly and based on current risk assessment," he added. The borders had been partially closed since early 2020 following the Covid-19 outbreak to check the spread of the virus. Muhyiddin also said Health Minister Khairy Jamaluddin had briefed NRC on the current pandemic situation, particularly the spread of the Omicron variant.

KUALA LUMPUR (Feb 8): Rhone Ma Holdings Bhd plans to undertake a private placement of 10% of its issued shares to raise between RM13.45 million and RM18.84 million to fund the setting up of a milk processing plant and for working capital purposes. Rhone Ma hopes to use RM7.5 million of the proceeds to build the plant with a capacity of 14.4 million litres per year in Kapar, Selangor by the third quarter of 2025. Rhone Ma will use another RM2.5 million of the proceeds for marketing expenses, while the balance will go towards working capital. The animal-health specialist plans to issue between 20.08 million and 28.12 million placement shares at an indicative price of 67 sen per share. The group has warrants expiring on Feb 4, 2026 with a conversion price of 70 sen per share.

KUALA LUMPUR (Feb 8): Last Friday (Feb 4), I took my children to the World Trade Centre in Kuala Lumpur to be vaccinated. With the recently added new features, it made the entire process of securing the vaccination appointment for my kids at the designated vaccination centre a breeze. When we reached the vaccination centre, all the details of our kids were correctly synchronised with the vaccination centre system and importantly, the requested slot was assigned. Soon after the vaccination, MySejahtera app quickly displayed the vaccination information. Prasad Cooray is a Sri Lankan journalist based in Kuala Lumpur.

AN advertising campaign in the late 1940s popularised the use of diamonds in engagement rings. Although rings have been in use more or less since people started making jewellery, the history of wedding rings can be traced to ancient Rome and Greece. The modern exchange of rings derives from the customs of Europe during the Middle Ages, with the styles of the rings changing through time. Additionally, the material that the rings were made of was dependent on the social and economic class of the wearers. The practice of incorporating a diamond into an engagement ring only became popular after a comprehensive ad campaign that started in 1947 by De Beers.

KUALA LUMPUR: A total of 3,382 examination centres for the speaking and listening tests (Bahasa Melayu and English) as well as the practical science test for the Sijil Pelajaran Malaysia (SPM) 2021 examination will be in operation nationwide starting Tuesday (Feb 8).The Education Ministry (MOE) in a statement on Monday (Feb 7) informed that 50,514 examination officers were appointed for the smooth running of the examination.The Malay Speaking Test will be held from Tuesday (Feb 8) to Thursday (Feb 10), the English Speaking Test on Feb 22-24 while the Listening Test for both languages ​​will be held on Feb 21, involving 401,927 candidates for Malay and 401,087 candidates for English.The practical science tests for Physics, Chemistry and Biology will be conducted on Feb 15 involving 91,962 candidates (Physics); 93,353 candidates (Chemistry) and 72,669 candidates (Biology) while the Practical Science Test (Additional Science) will be held on Feb 17 with 1,049 candidates. "The Examination Board reminds all candidates to refer to the examination timetable which can be downloaded at http://lp.moe.gov.my to obtain information on the date, time, code and examination papers as well as instructions and warnings that need to be followed during the examination,” read the statement.Candidates are also reminded to bring identification documents and Examination Registration Statement to the examination centre and comply with the guidelines of the Central Assessment and Public Examinations Management as well as standard operating procedures (SOP) set by the National Security Council and the Health Ministry for Covid-19 prevention.

KUALA LUMPUR: The Malaysian properties market remains attractive to international buyers, especially for properties in Kuala Lumpur, Genting Highlands and Sabah, according to IBN Corp Ltd. In a statement today, IBN Corp director Megat Khalil Izzuddin Shah said Malaysia remains one of the most ideal countries for retirement due to its excellent weather and living environment. "The highly accessible public transportation system, affordable medical cost and cheap yet excellent education are also attractive prospects. "Phase one of IBN Highlands City is expected to be completed by December 2023, whereas IBN Bukit Bintang is due for completion in the second quarter of 2024. "We also have some other exciting new projects planned for this year, including a 40-acre recreational park near IBN Highlands City," he said.

KUALA LUMPUR (Feb 7): OpenSys (M) Bhd announced it has received an additional order worth RM10.8 million to supply cash recycling machines (CRMs) to Bank Simpanan Nasional (BSN) branches. CRMs are dual-function machines that replace standalone cash deposit and dispensing machines in banks and financial institutions. “This additional award from BSN demonstrates the CRMs’ ability to generate significant savings in operational costs, improving operational efficiency and enhancing customer service for banks. “We are proud to play a role in continuing to support banks’ digitalisation and operation enhancement efforts, and endeavour to further encourage these initiatives,” Lim said. With this latest order, BSN would commission more than 270 CRMs across branches nationwide by the end of 2022.

SCANDINAVIANS who lived between 793 to 1066 AD were called Vikings. Verdict:FALSEWhile the word "Viking" is commonly used to describe the seafaring people of Scandinavia (present day Norway, Denmark and Sweden), it would not have been what the "Vikings" would have called themselves. The word Viking has its roots in the norse word "vik" which means creek, inlet or bay. During the Viking Age, the word viking was actually an activity, something someone would do rather than the name of the person doing it. Anyone could be a vikingr as it was a word that the Vikings would use for other non-Scandinavian groups as well.

By now the broad outlines of the 1MDB scandal, or at least its most salacious details, are well known on Wall Street. Ng, the former head of investment banking in Malaysia, is charged with helping Jho Low and Leissner launder billions of dollars embezzled from 1Malaysia Development Bhd, or 1MDB. Jho Low, the alleged mastermind of the fraud, has denied wrongdoing and remains at large. Ng has said he was the first to inform Goldman Sachs compliance about Jho Low, sending “red flag warnings” not to do business with him. Even if he prevails in the U.S., his legal battle won’t end there: He still faces separate trial in Malaysia.

KOTA KINABALU: The Sabah government wants a full investigation into claims that suspected foreign militant landed on Long Patau in the state’s easternmost tip of Lahad Datu in Tambisan. However, Hajiji said he had been briefed about the case by Sabah Police Commissioner Datuk Idris Abdullah and that there was no indication of the alleged intruders in Lahad Datu. On Saturday (Feb 5), Sabah Deputy Police Commissioner Datuk Jauteh Dikun said although there was no real evidence to show militants had infiltrated Lahad Datu, police would not take it lightly. Concerns over security over the east coast of Sabah surfaced late last year when unconfirmed reports claimed that southern Philippines based Sulu militants were hatching plans to invade Sabah. In Feb 2013, over 100 Sulu militants linked to a self-proclaimed Sulu Sultan intruded into Kg Tanduo in Lahad Datu and were defeated by Malaysian security forces.

SEOUL (Feb 6): South Korea's antitrust regulator said on Sunday that it has decided to fine Mercedes-Benz 20.2 billion won (US$16.87 million) for falsified information on gas emissions of its diesel cars and ordered it to take corrective actions. The rigging means that the vehicles failed to meet permissible emission levels, but the German automaker falsified related facts in signs attached to its cars between April 2012 and November 2018, according to the commission. The Korean unit also advertised that the vehicles' nitrogen oxide emissions remained at a minimum level and they fully met the Euro 6 emission standards. "Such practices will or are feared to hurt fair market order by preventing consumers from making a reasonable decision," it added. Last year, the regulator either imposed a fine or ordered corrective steps for Audi-Volkswagen Korea, Nissan Motor Corp, Stellantis Korea and Porsche AG for similar emissions rigging incidents.