The Star Online: Business
The Star Online: Business |
- Vietnam's rice exports at record high, talks on to export more to M'sia
- Malaysia-Market factors to watch Tuesday Dec 27
- Japan relaxes decades-old arms exports ban
| Vietnam's rice exports at record high, talks on to export more to M'sia Posted: 26 Dec 2011 04:28 PM PST HANOI: Vietnam's rice exports this year jumped 4.36 percent from 2010 to a record high of 7.19 million tonnes, the Agriculture Ministry said on Monday, beating previous industry projections. Vietnam is in talks with Malaysia to sell 200,000 tonnes of 5 percent broken rice, which could bring its rice exports in 2012 to Malaysia to 500,000 tonnes, the Vietnam Economic Times newspaper reported on Monday. Based on a floor price of $500 a tonne for the 5-percent broken variety set last week, the deal would be worth $100 million, free-on-board basis. Malaysia is Vietnam's third-largest rice buyer after Indonesia and the Philippines. It has taken delivery of 464,500 tonnes of Vietnamese rice in the first 11 months, up 30.6 percent from the same period last year, Vietnam's Agriculture Ministry data show. Total Vietnamese Rice export revenue rose 14 percent from last year to an estimated $3.7 billion, the ministry said in its monthly report on Monday. Vietnam, the world's second-largest rice exporter after Thailand, had been expected to export around 7 million tonnes of the grain this year, after shipping a record 6.83 million tonnes in 2010. The higher revenues came after Asian rice prices were boosted by a Thai government purchasing scheme while Southeast Asia's floods led to a food shortage, the report said. It estimated Vietnam produced a record 42.3 million tonnes of paddy in 2011, up 5.8 percent from last year, coffee output rose 5 percent from 2010 to nearly 1.17 million tonnes and rubber output rose 8 percent to 811,600 tonnes. Vietnam is the world's largest robusta coffee producer. It is the fourth-largest natural rubber exporter after Thailand, Indonesia and Malaysia. Coffee exports in 2011 are estimated at 1.22 million tonnes, or 20.33 million 60-kg bags, up only 0.2 percent from 2010, the agriculture ministry said. Vietnam's rice output in 2012 is expected to remain steady at this year's record levels of around 42 million tonnes of unhusked grain, a government minister has said, which could help ensure supply in Asia and soften food prices. The country has set an initial target to export between 6.5 million and 7 million tonnes of rice in 2012. - Reuters Full content generated by Get Full RSS. |
| Malaysia-Market factors to watch Tuesday Dec 27 Posted: 26 Dec 2011 04:17 PM PST KUALA LUMPUR: Following is a list of events in Malaysia as well as news stories and press reports which may influence financial markets. WHAT IS HAPPENING IN MALAYSIA, TIMES LOCAL FOLLOWED BY GMT: > Cargo surveyor Societe Generale de Surveillance issues Dec 1-25 Malaysian palm oil exports after 2.30pm (0630). > Permodalan Nasional Bhd announces dividend payout for Amanah Saham Nasional Scheme at Menara PNB, Kuala Lumpur at 10.00 am (0200). > Lion Industries Corp Bhd holds AGM at Office Tower, Jalan Nagasari, Kuala Lumpur at 11.00am (0300). MARKET SNAPSHOT: * Malaysia's benchmark stock exchange edged up 0.3 percent on Friday ahead of the long Chirstmas weekend, led by gains in British American Tobacco and oil and gas to auto distributor UMW Holdings. * The S&P 500 turned positive for the year and closed out its third week of gains in four on Friday as equities extended their rally after a string of unexpectedly strong economic data. * Wall Street stocks rose on Friday and oil prices edged up as upbeat data reinforced a slightly better outlook for the U.S. economy, curbing a bid for safe-haven U.S. Treasury debt. # Malaysian crude palm oil futures climbed to a near three-week high on Friday on shortcovering ahead of the weekend that was driven by upbeat U.S. data and prospects of lower output triggered by heavy rain fall in parts of Malaysia. IN THE NEWS REUTERS MALAYSIA > Cairn to start Sri Lanka oil exploration 2nd phase > Malaysia seeks 200,000 T rice from Vietnam-newspaper > Abraaj made "significant profit" on Acibadem deal - CEO > Malaysia's Khazanah buys into Turkey's Acibadem > Inflation and monetary policy in Southeast Asia > Petronas in talks with oil majors for petchem tie-up > Indonesia plans coal, base metals export tax in 2012 > Myanmar scraps taxes on overseas labourers > Singapore's Ascott denies Malaysia REIT listing report > Australia offers to reopen Sth Pacific asylum centres * Emerging Asian currencies rose broadly on Friday in thin trading ahead of the year end after encouraging data from the United States sparked buying in risky assets. * Most Southeast Asian stock markets edged higher on Friday, poised for slight gains on the week amid strength in commodities-related stocks supported by signs of a strengthening U.S. economy. The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday. FUNDAMENTALS * Malaysian crude palm oil futures climbed to a one-month high on Friday on shortcovering ahead of the weekend that was driven by upbeat U.S. data and prospects of lower output triggered by heavy rain fall in parts of Malaysia. * Wheat reached a fresh five-week high on Friday, while soybeans and corn posted modest gains as the grains extended winning streaks heading into the holiday weekend. * Oil prices rose for a fifth straight day on Friday, on concerns about potential supply disruptions in Iran and Iraq and recent signs of a strengthening U.S. economy. MARKET NEWS * Wall Street stocks rose on Friday and oil prices edged up as upbeat data reinforced a slightly better outlook for the U.S. economy, curbing a bid for safe-haven U.S. Treasury debt. RELATED NEWS > Malaysia's Dec 1-25 palm oil exports down 11.6 pct-ITS > Lack of rain could hurt Argentine soy - exchange > So. Brazil crops to see rain; drier weather next week DATA/EVENTS >Cargo surveyor Societe Generale de Surveillance issues Dec 1-25 Malaysian palm oil exports on Tuesday. DIARY - Malaysia ALL TIMES ARE PROVISIONAL AND IN LOCAL TIME FOLLOWED BY GMT IN BRACKETS TUESDAY, DEC 27 RAWANG, SELANGOR - Seacera Group Bhd holds EGM at Perangsang Templer Golf Club, Templer Park Resort, Rawang at 0900am (0100). * SHAH ALAM - Deputy Prime Minister Muhyiddin Yassin launches Bionexus partnership network at Universiti Teknologi Mara, Puncak Alam campus, Shah Alam at 1000am (0200). KUALA LUMPUR - LFE Corp Bhd holds AGM at Lot 43117, Off Jalan Balakong, Balakong, Seri Kembangan at 1000am (0200). KUALA LUMPUR - Lion Industries Corp Bhd holds AGM at Office Tower, Jalan Nagasari, Kuala Lumpur at 1100am (0300). WEDNESDAY, DEC 28 SUBANG JAYA - Farlim Group (M) Bhd holds EGM at Holiday Villa, Subang Jaya at 1000am (0200). MALACCA - Huat Lai Resources Bhd holds EGM at PT 1678, Mukim of Serkam, Merlimau, Melaka at 1000am (0200). KUALA LUMPUR - F5 Networks' media luncheon cum product launch at Urban Spoon Restaurant, Plaza Damas, Jalan Sri Hartamas at 1130am (0330). - Reuters Full content generated by Get Full RSS. |
| Japan relaxes decades-old arms exports ban Posted: 26 Dec 2011 04:15 PM PST TOKYO (Reuters) - Japan relaxed Tuesday its self-imposed decades-old ban on military equipment exports, Kyodo news agency reported, in a move that will open up new markets to its defence contractors and help the nation squeeze out more out of its defence budget. Kyodo said the government's security council agreed to the relaxing of the ban to allow Japan take part in joint development and production of arms with other countries and supply military equipment for humanitarian missions. The rule adopted in 1967 banned sales to communist countries, those involved in international conflicts or subject to United Nations sanctions. It later became a blanket ban on exports and on the development and production of weapons with countries other than the United States, making it impossible for manufacturers to participate in multinational projects. The move could allow companies such as Mitsubishi Heavy to join the development of Lockheed Martin's F-35 which Tokyo picked last week as its next frontline fighter, planning to buy 42 machines at an estimated cost of more than $7 billion. Although Japan is the world's sixth-biggest military spender, it often pays more than double other nations for the same equipment because local export-restricted manufacturers can only fill small orders at a high cost. Removing the ban would stretch its defence purse further as military spending in neighbouring China expands. This year, Beijing raised military outlays by 12.7 percent. That included money for its own stealth fighter, the J-20, which made its maiden flight in January. In contrast, Japan's defence budget has been shrinking from year to year in past years as ballooning costs of social security and servicing its growing debt pile squeeze other spending. Given fiscal restraints, Tokyo is keen to make its defence program more efficient to maintain its military capability in the face of China's nascent and growing uncertainties in the region. The relaxation of the ban, that has been modified in the past to allow sharing of military technology with the United States, could also be a boon for Japanese manufacturers -- the strong yen weighing on their civilian exports and weak domestic demand and budget constraints restricting growth at home. Full content generated by Get Full RSS. |
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