Actually Malaysia is the first hand offer by China on 1 belt 1 road because of our strategy location. But as can see the 'Ding Dong' on ECRL cancellation/continuation matter let China shift/change its belt route to Indonesia and to a certain extent Singapore. That is why. So, let's see the development of the matter in times to come.
Old horse dun want those "premium" end up in other's deep pocket. On the other hand, he also dare not to offense China like Donald Trump. So....everyday ding2 dong2 lor.....:-)
old horse also half half mah...donald trump also dont like one belt one road mah...one side china one side US old horse at middle...have to think lorh....which one return more good...let wait for the ERCL announcement larh...hehe
ecrl is still negotiating.... if ok, govt may negotiate to do barter trade, use palm oil, China could use it for both biodiesel or cooking or food ingredients
KUALA LUMPUR (Jan 30): Malaysian palm oil futures rose on early Wednesday, recovering from their largest fall in two weeks in the previous session, on buoyant sentiment ahead of the Lunar celebration.
The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange climbed 0.35% to RM2,302 (US$560.51) a tonne at the midday break.
Trading volumes stood at 15,404 lots of 25 tonnes each.
The futures contract rose to its highest in nearly seven months supported by related edible oil prices on Monday, and charted a sixth session of gains in seven. It then fell 1.4% on Tuesday, recording the largest decline in two weeks.
"Market will likely continue to range here in anticipation of the long holiday," a Kuala Lumpur-based trader said.
There is also better demand in the palm oil contracts for February and March delivery, supported by higher pricing in Indonesia, the trader added.
"Stocks in Indonesia seem to have been decreasing since December," he said.
Malaysian markets will be closed on Feb 5-6 for the Lunar New Year celebrations.
"Traders are also covering positions as there is a lack of sellers at the lower price levels," said another futures trader from Kuala Lumpur.
Palm oil may slide further into a range of RM2,256-2,274 per tonne, following its failure to break a resistance at RM2,322, Wang Tao, a Reuters market analyst for commodities and energy technicals said.
In other related oils, the Chicago March soybean oil contract was up 0.13%.
The May soybean oil contract on the Dalian Commodity Exchange was down 0.41%, while the Dalian May palm oil contract fell 0.58%.
Palm oil prices are affected by movements in soyoil rates, as they compete for a share in the global vegetable oil market.
Palm, soy and crude oil prices at 0552 GMT:
Contract Month Last Change Low High Volume MY PALM OIL FEB9 2200 +6.00 2180 2205 227 MY PALM OIL MAR9 2268 +4.00 2245 2271 1573 MY PALM OIL APR9 2302 +8.00 2277 2305 6796 CHINA PALM OLEIN MAY9 4796 -30.00 4760 4816 393956 CHINA SOYOIL MAY9 5758 -30.00 5740 5796 311900 CBOT SOY OIL MAR9 30.16 +0.05 30.08 30.17 2154 INDIA PALM OIL JAN9 561.70 +0.80 556.40 562.7 71 INDIA SOYOIL FEB9 773.15 +2.00 771.2 774.3 2950 NYMEX CRUDE MAR9 53.41 +0.10 53.11 53.61 39482 Palm oil prices in Malaysian ringgit per tonne CBOT soy oil in US cents per pound Dalian soy oil and RBD palm olein in Chinese yuan per tonne India soy oil in Indian rupee per 10 kg Crude in US dollars per barrel
(US$1 = RM4.1070) (US$1 = 71.24 Indian rupees) (US$1 = 6.7131 Chinese yuan)
China may accept barter trade for ecrl, pay by palm oil.... China is very keen on ecrl, :)
China insists ECRL negotiations ongoing amid Malaysia muddle Updated 1 day ago · Published on 28 Jan 2019 7:15PM ·
Industry sources say it will be an economic catastrophe to cancel the East Coast Rail Link as compensation will cost the Malaysian government RM20 billion. – The Malaysian Insight file pic, January 28, 2019.
NEGOTIATIONS over the East Coast Rail Link (ECRL) are continuing, a visiting Chinese foreign official said today, amid confusion in Putrajaya over the status of the RM81 billion project.
China’s Foreign Affairs Vice-Minister Kong Xuanyou told Channel NewsAsia that negotiations are being carried out and have yet to reach a conclusion, noting the outcome will not affect ties between the two countries.
ECRL , probably go ahead but reduced cost or shorter distance probably so that China and Malaysia also wont lose faces and win2..... it is assumed compensation is about rm20bil if ecrl is cancelled... thus, I think in the end , a more cost effective version will be implemented like our LRT project e.g. reduced specs, shorter distance, etc... accept palm oil for payment for 50% of the total cost , anything can happen
China wont let go the ecrl project without heavy penalty , say, rm20bil or about 25% of the total cost, also, about 20% of the project has been completed if not mistaken
ecrl from port klang, Selangor to kuantan port, pahang sudah cukup untuk esport, etc... tak payah buat di terengganu dan kelantan, penduduk kurang dan aktiviti ekonomi juga kurang dan lemah
Cancel ECRL if it incurs more losses, says economist Updated 2 hours ago · Published on 30 Jan 2019 6:01PM ·
Jomo Kwame Sundaram says the existing transportation system in the east coast, such as land and air routes, is sufficient without the need for a high-speed train. – The Malaysian Insight file pic, January 30, 2019.
THE government should cancel the East Coast Rail Line (ECRL) project if it incurs more losses, and focus instead on socioeconomic development in the East Coast, said prominent economist Jomo Kwame Sundaram.
He said the problem of clean water, sanitation, and floods in Kelantan has long been in need of immediate attention.
Good123 ecrl from port klang, Selangor to kuantan port, pahang sudah cukup untuk esport, etc... tak payah buat di terengganu dan kelantan, penduduk kurang dan aktiviti ekonomi juga kurang dan lemah
FGV does not involved in ecrl projects , you need to clarify in the those construction stocks forums mah.....FGV has no correlation with ecrl projects .
The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange climbed 0.35 percent to 2,302 ringgit ($560.51) a tonne at the midday break. Trading volumes stood at 15,404 lots of 25 tonnes each
KUALA LUMPUR: Malaysian palm oil futures rose on early Wednesday, recovering from their largest fall in two weeks in the previous session, on buoyant sentiment ahead of the Lunar celebration.
The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange climbed 0.35 percent to 2,302 ringgit ($560.51) a tonne at the midday break.
Trading volumes stood at 15,404 lots of 25 tonnes each.
The futures contract rose to its highest in nearly seven months supported by related edible oil prices on Monday, and charted a sixth session of gains in seven. It then fell 1.4 percent on Tuesday, recording the largest decline in two weeks.
\"Market will likely continue to range here in anticipation of the long holiday,\" a Kuala Lumpur-based trader said. There is also better demand in the palm oil contracts for February and March delivery, supported by higher pricing in Indonesia, the trader added.
\"Stocks in Indonesia seem to have been decreasing since December,\" he said.
Malaysian markets will be closed on Feb. 5-6 for the Lunar New Year celebrations.
\"Traders are also covering positions as there is a lack of sellers at the lower price levels,\" said another futures trader from Kuala Lumpur.
Palm oil may slide further into a range of 2,256-2,274 ringgit per tonne, following its failure to break a resistance at 2,322 ringgit, Wang Tao, a Reuters market analyst for commodities and energy technicals said.
In other related oils, the Chicago March soybean oil contract was up 0.13 percent.
The May soybean oil contract on the Dalian Commodity Exchange was down 0.41 percent, while the Dalian May palm oil contract fell 0.58 percent.
Palm oil prices are affected by movements in soyoil rates, as they compete for a share in the global vegetable oil market. - Reuters
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
henry888
2,247 posts
Posted by henry888 > 2019-01-30 11:29 | Report Abuse
Actually Malaysia is the first hand offer by China on 1 belt 1 road because of our strategy location. But as can see the 'Ding Dong' on ECRL cancellation/continuation matter let China shift/change its belt route to Indonesia and to a certain extent Singapore. That is why. So, let's see the development of the matter in times to come.