KUALA LUMPUR: Malaysia should take advantage of its recent cooperation with Egypt by establishing an oil hub or redistribution centre, according to the Malaysian Palm Oil Board (MPOB).

Its director-general Datuk Dr Ahmad Parveez Ghulam Kadir emphasised the mutual benefits of the initiative, highlighting the promising results from the current mission, which underscored both nations' eagerness to cooperate in investments within the agro-commodities sectors and bulking facilities.

"By leveraging Egypt's strategic position and ability to re-export to neighbouring countries, Malaysia can consider establishing a hub for Malaysian palm-based downstream products at one of Egypt's major ports.

"This will enable us to provide the required palm-based downstream products to the industry promptly and efficiently," Ahmad Parveez told Business Times.

The proposed hub in Egypt would serve as a vital link in the distribution chain, ensuring timely delivery of palm oil products to markets in the Middle East and North Africa.

"This can also encourage small quantity imports by Egyptian industry members directly from Malaysian exporters, thus eliminating the additional cost of dealing with a third party," said Ahmad Parveez.

In addition, Ahmad Parveez said Malaysia could establish its distribution hub in the Suez Canal Economic Zone (SCZONE), which provides facilities that could enhance the market presence of Malaysian palm-based products in the region.

Therefore, he said the Malaysian oil palm industry could consider investing in bulking facilities in Egypt to gain market share in this region.

"Egypt, with its unique geography, has high potential to be an economic and industrial hub, linking Europe, the Middle East and Africa - a unique trade triangle connected to the world via the Suez Canal.

"Additionally, Egypt is a key participant in some of the world's most prominent trade agreements such as African Continental Free Trade Area, the Common Market for Eastern and Southern Africa and Egypt Free Trade Agreement, to name a few," he said.

Moving forward, Ahmed Parveez said Malaysia should explore investing in higher-value retail products of the downstream sector in Egypt.

This can be achieved through partnership arrangements and strategic alliances with local partners in the market.

"These initiatives could be joint efforts between Malaysian palm oil stakeholders and the Egyptian Businessmen's Association (EBA), enhancing and strengthening the importance of the oil palm industry and other commodities like timber and rubber in contributing to Egypt's economic and social development productivity," he added.

Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani recently led a Malaysian delegation to Egypt and Turkiye for a working visit from May 27 to June 1.

In Cairo, he was received by Egypt's Supply and Internal Trade Minister Dr Ali El Moselhi.

During his visit, Johari discussed with Dr Ali to strengthen bilateral cooperation between the two countries as well as business leaders in the palm oil industry.

He said Egypt will remain Malaysia's key trading partner as the government sets to expand its palm oil exports to South Africa and the Middle East.

""I am confident that Egypt's strategic geographical location would enhance our nations' economic prosperities.

"In our discussions, I emphasised to the Egyptian government regarding Malaysia's commitment to providing Egypt with a steady supply of high quality and sustainable palm oil certified by our locally-developed certification standard, MSPO.

"I look forward to further cooperating with His Excellency Dr Ali to ensure mutually beneficial trade relations," he said in a posting on X.


Sumber : New Straits Times

KOTA KINABALU (June 6): Sawit Kinabalu Group (Sawit Kinabalu) will be the pioneer of the Green Technology Park (GTP) in Sabah, at the same time supporting the state government’s efforts towards achieving sustainable development goals.

In order to realise that goal, Sawit Kinabalu through its subsidiary, Sawit Palm Oil Industrial Cluster Sdn Bhd (SPOIC) signed a Memorandum of Understanding (MoU) with Nextgreen Global Berhad (NGGB) for the establishment of GTP.

Chief Minister Datuk Seri Panglima Hajiji Noor who is also the chairman of Sawit Kinabalu, witnessed the signing of the MoU at Sawit Kinabalu’s new headquarters in Block B, Menara Kinabalu on Thursday.

Sawit Kinabalu was represented by its Group Managing Director and Chief Executive Officer, Victor Ationg while NGGB was represented by its Group Managing Director, Datuk Lim Thiam Huat, as well as Datin Stella Ambrose (Sawit Kinabalu) and Datuk Mohd Yusof Din (NGGB) as witnesses for both entities.

Through the MoU, both parties will explore and implement the main activities of GTP such as establishing a collection and processing center, pulp mill, raw water treatment plant and steam boiler on 400 acres of land belonging to SPOIC in Sandakan.

GTP’s green business concept emphasises renewable energy, recovery, and waste elimination which is the basis for a green economy that can reduce environmental risks and further drive Sawit Kinabalu towards sustainable development.

Earlier, Hajiji launched Sawit Kinabalu’s new headquarters and chaired the company’s board of directors meeting.

He then witnessed the business tithe payment of Sawit Kinabalu for the year 2023 amounting to RM800,000 from Victor to the Supreme Council member of the Islamic Religious Council of Sabah (MUIS), Datuk Mohd Dandan @ Ame Alidin.

According to Victor, the Sawit Kinabalu Group is committed to continuing to fulfill its obligation to pay business tithe to help economic growth and community empowerment, in accordance with the profits recorded by the company, following the performance of CPO oil prices which are expected to increase in the future.


Sumber : The Borneo Post

Consumers are increasingly interested in healthier snacking choices, with Non-Palm Oil (NPO) products gaining traction in recent discussions. This trend is influencing consumer behavior and shaping market trends.

Too Yumm!, a brand under Guiltfree Industries Ltd. owned by the RP-Sanjiv Goenka Group, claims to have made notable strides in offering alternatives in the snacking sector. The brand introduced Multigrain Chips with unique flavours and adopted baked snacking products early on. According to the brand, their entire snack range has been free of Palm Oil since its inception, reflecting a broader industry movement towards sustainability and healthier snacking alternatives. This shift, as claimed by the brand, highlights changing consumer preferences and industry dynamics in the snacking sector.

“Our commitment to offering palm oil-free snacks, including our popular chips range has been unwavering. With the ‘No Palm Oil’ campaign, we aim to reinforce our position as the ‘OG of No Palm Oil Snacks’ and raise awareness about the importance of mindful snacking choices.”  Yogesh Tewari, Vice President of Marketing, Guiltfree Industries Ltd., said.

The campaign employs a multifaceted strategy, leveraging digital platforms to highlight the central message of No Palm Oil. This includes influencer marketing, a social media campaign featuring quirky posts and memes, and on-ground activations nationwide.


Sumber : Financial Express

KUALA LUMPUR (May 30): To achieve its net zero emissions goal by 2050, Malayan Banking Bhd (KL:MAYBANK) has identified interim decarbonisation targets for the bank’s palm oil and power portfolios.

The whitepaper, entitled “Banking on a better tomorrow: Our commitment to net zero”, serves as the bank’s primary instrument to publicly communicate its commitments to sustainable growth, Maybank president and chief executive officer Datuk Khairussaleh Ramli said in a statement on Thursday.

Maybank aims to reduce financed emissions intensity for its palm oil portfolio from a June 2023 baseline of 1.47 tonnes of carbon dioxide equivalent per tonne of crude palm oil (tCO2e/tCPO) produced to 1.40 tCO2e/tCPO by 2030.

“This (the 2023 baseline) is well below the reference scenario of 2.04 tCO2e/tCPO. This significant achievement is guided by an integrated reference scenario that combines the Science Based Targets Initiative (SBTi) Flag pathway, tailored for palm oil, with the Network for Greening the Financial System (NGFS) REMIND, which accounts for methane emissions from palm oil milling,” the statement read.

As for the power sector, Maybank has targeted to reduce its financing power emissions intensity from a June 2023 baseline of 442 kg carbon dioxide equivalent per megawatt-hour (kgCO2e/MWh) to 272 kgCO2e/MWh by 2030, based on the regionalised International Energy Agency Net Zero Emissions by 2050 Scenario (IEA NZE 2050) reference pathway.

Its power emissions intensity baseline of 442 kgCO2e/MWh is already below the regional benchmark of 573 kgCO2e/MWh, which represents the average level of carbon emissions from power generation in the region.

No financing to greenfield coal-fired power plants

Meanwhile, the bank said it will continue to enforce its coal policy, whereby no financing will be extended to new greenfield coal-fired power plants and borrowers who derive a material amount of annual revenue from thermal coal.

Khairussaleh said Maybank is well positioned to offer financing for its clientele and the broader palm oil and power ecosystem to support the energy transition in the region.

“By setting ambitious yet achievable targets and implementing a combination of regulatory measures, incentives, and technological innovations, we firmly believe that both sectors can play a crucial role in achieving net zero emissions by 2050,” he added.

At the noon break, shares in Maybank stood one sen or 0.1% higher at RM9.91, valuing Malaysia’s largest bank by assets at RM119.58 billion.


Sumber : The Edge Malaysia

KUALA LUMPUR (May 26): Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani will lead a Malaysian delegation to Egypt and Türkiye for a working visit from May 27 to June 1, 2024.

He is also scheduled to officiate the Malaysian Palm Oil Forum Egypt 2024 in Cairo on May 28.

In a statement on Sunday, the Plantation and Commodities Ministry said the annual forum, organised by the Malaysian Palm Oil Council, (MPOC) seeks to explore the growth potential for palm oil in the North African region.

In his keynote address at the forum, Johari is expected to highlight the increasing global demand for cooking oil and its derivatives, as well as Malaysia's commitment to sustainable palm oil production. 

In addition, he will meet Egypt’s Minister of Trade and Industry and Minister of Supply and Internal Trade to strengthen bilateral cooperation between the two countries. He will also meet business leaders in the palm oil industry.

Subsequently, Johari will visit Türkiye, where he is scheduled to meet the country's Minister of Trade on May 31. The objective is to strengthen collaboration and identify new business opportunities between Malaysia and Türkiye in the palm oil sector .

“Türkiye is an important destination for Malaysian palm oil exports, making this meeting particularly significant for Malaysia,” the ministry said.


Sumber : The Edge Malaysia