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By Alfian

The Jakarta Post

25 August, 2010

The Energy and Mineral Resources Ministry has established a new directorate general for managing renewable energy and energy conservation.

Energy and Mineral Resources Minister Darwin Zahedy Saleh appointed Luluk Sumiarso as the inaugural director general for renewable energy and energy conservation on Tuesday. “The establishment of the directorate general marks our efforts to prepare for alternative energy,” Darwin said.

He added that Luluk had to immediately formulate a road map for new and renewable energy development as well as for energy conservation. Read the rest of this entry »

24 August, 2010

The Ecologist

The Norwegian government has sold its investment in one Malaysian logging and palm oil company but remains a big shareholder in another accused of destroying rainforest and orang-utan habitats

The Norwegian government is under pressure to sell its investments in Sinar Mas, a controversial palm oil and timber group, which has admitted illegally clearing high conservation value forest.

The country’s oil assets have made it one of the biggest investors in the world, with a fund of more than $450 billion managed by the state-owned Norges Bank Investment Management (NBIM).

It manages these funds on ethical grounds and this week said it had sold its investments in Malaysian firm Samling Global, accusing the company of illegal logging and saying there was an ‘unacceptable risk of contributing to current and future severe environmental damage.’ Read the rest of this entry »

Daily Express

23 August, 2010

Lahad Datu: In meeting the requirement of the Department of Environment (DOE), villagers from five kampungs located inside the Palm Oil Industrial Cluster (POIC)’s buffer zone here will be relocated to a nearby area soon.

Lahad Datu District Councillor, Kassim Sulaiman, disclosed this while visiting one of the affected villages, Kampung Sabah Baru, in Tenggah Nippah, recently.

Also present were councillor Sharil Haji Shafiee, Village Chief Patimah Nasirin and Village Security Committee Chairwoman Rohana Haji zulkifli.

The visit also identified some 50 houses within the proposed buffer zone.

Kassim said the Council would set up a Special Committee to be headed by District Officer Haji Zulkifli Haji Nasir and comprising officers of POIC and all relevant government departments to deal with the relocation exercise.

“The deliberations will focus on the requirement of DOE to set up of a buffer zone and its effects on the nearby villages.

“Also, the Special Committee needs to address issues of demolition of houses within the buffer zone, payment of compensation and where to resettle the affected house owners,” he said.

He said the relocation exercise would only be carried out after all issues mentioned are sorted out.

“All councilors were briefed on POIC’s problem during the recent full Council meeting chaired by the District officer,” he said.

Kassim further noted that the Council would also be discussing on the position of the affected villages, i.e. Kg Baru Sabah and Desa Bajau, which are currently under its rating zone.

“If POIC were to take away these two areas, will the Lahad Datu District Council be compensated? This matter will definitely be raised in the next Council meeting,” he said.

Touching on compensation to affected villagers, Kassim, who is also Silam Barisan National Secretary, said the Council leaves it to POIC management to arrange with the affected villagers.

Meanwhile, according to Sharil, Kampung Sabah Baru was established in 1996 and currently has some 600 houses with an estimated 4,000 residents, a majority of whom are Muslims.

He further noted that besides Kampung Sabah Baru, other villages that might be affected in this exercise are Kampung Desa Bajau and Dasar Baru, Taman Warisan and Housing Programme for Hardcore Poor (PPRT) which are located along the perimeters of POIC.

Patimah disclosed that POIC had sent its surveyor recently to identify the borderline of its buffer zone.

“We were informed of the relocating exercise earlier by POIC’s staff, the majority of affected villagers agreed to co-operate on condition that they be justly compensated and relocate to an area near the town, so that they can do their daily work routine uninterrupted,’ she said.

24 Aug 2010

Palm futures end higher on short-covering

Author: Admin | Filed under: Commodity Roundup | NO COMMENTS

Business Times

24 August, 2010

CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives were higher at close yesterday on short-covering activities, dealers said.

They said that higher soyaoil prices and signs of improving exports due to the festive season boosted buying sentiment in the CPO futures market.

“The market will see strong demand this week,” a dealer said.

At close, September 2010 rose RM11 to RM2,717 per tonne, October 2010 increased RM20 to RM2,628 per tonne, November 2010 added RM16 to RM2,560 per tonne and December 2010 was RM9 higher at RM2,540 per tonne.

Total volume fell to 18,218 lots from the 19,861 lots last Friday while open interests declined to 67,636 contracts from 67,893 contracts previously.

On the physical market, August South was up by RM15 at RM2,750 per tonne from RM2,735 per tonne last Friday.

The Star

24 August, 2010

PETALING JAYA: Conglomerate Boustead Holdings Bhd saw net profit jump to RM146.50mil for the second quarter ended June 30, 2010 from RM46.90mil a year ago as higher crude palm oil (CPO) prices and sales from BH Petrol stations boosted revenue, which rose 11.65% to RM1.42bil.

The company said in an announcement to Bursa Malaysia yesterday that revenue contribution from the plantation and trading divisions was notable due to the stronger CPO prices and higher sales volume respectively.

Boustead’s deputy chairman cum group managing director Tan Sri Lodin Wok Kamaruddin said in a news release most divisions performed satisfactorily with marked improvements compared with the previous financial year.

“Coupled with this, our focus on improving efficiences and strengthening organinc growth has indeed proved viable,” he added. Read the rest of this entry »

By Amy Chew

The Star

24 August, 2010

JAKARTA: Malaysian palm oil producers should heed the case of Sinar Mas Group where claims of forest destruction committed by its palm oil unit, PT Smart, led international consumer companies, including Unilever, to stop buying palm oil from the company, said environmentalists.

According to Greenpeace, Malaysian palm oil producers operating in Indonesia could suffer the same fate if they did not practice sustainable palm oil production. Read the rest of this entry »

Business Times

23 August, 2010

CRUDE palm oil futures on Bursa Malaysia Derivatives is likely to be lower this week due to rising concerns that the stronger ringgit may make local exports less competitive, dealers said.

Demand for CPO is also expected to subside as many countries, especially in the Middle East, have stocked up their needs for the upcoming Hari Raya Aidilfitri, said Interband Group of Companies senior palm oil trader Jim Teh.

The ringgit appreciated further after Bank Negara announced midweek moves to further liberalise the local currency which will see the ringgit being used in trade settlements.

This subsequently pushed the local unit to a 28-month high on Thursday after recording the highest level since April 28, 2008. It was traded at 3.1280 to the US dollar at the opening.

As for demand for CPO, Teh said demand would likely be lower in the coming weeks especially with commodity prices currently at higher levels.
Read the rest of this entry »

24 Aug 2010

Red palm oil shows functional chocolate potential

Author: Admin | Filed under: Worldwide | NO COMMENTS

By Nathan Gray

Confectionery News

23 August, 2010

Adding red palm olein to chocolate spread could boost its antioxidant power and nutrient availability, according to new research published in the journal Food Chemistry.

The study, suggests that adding up to 20 per cent red palm olein (RPOL) into a functional chocolate spread could lead to nearly 20 times higher concentrations of carotenes.

“It was observed that when butter was replaced with 20% RPOL, all antioxidants were found to increase significantly,” wrote the researchers, from the Food Science and Technology Department at Alexandria University, Egypt.

Palm olein has been suggested as a potential functional ingredient for the replacement of vegetable oils and cocoa butters in confectionary products because it contains a wide variety of antioxidants and functional ingredients, including carotenes, tocopherols and tocotrienols. Read the rest of this entry »

 

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