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Indian buyers slash Malaysian palm oil purchases fearing duty hike: Traders

Monday, October 14, 2019, 7:23 PM

Indian refiners have stopped buying Malaysian-palm-oil for shipments in November and December fearing New-Delhi could raise import-taxes or enforce other measures to curtail imports from Kuala Lumpur, five-traders told Reuters. Lower purchases by India, the biggest buyer of Malaysian palm oil so far in 2019, could lead to higher-inventories and put pressure on Malaysian-palm-oil prices, but help rival-Indonesia in raising its shipments to India.
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Malaysia seeking $100 mn in fines in expanded 1MDB probe: Official

Monday, October 7, 2019, 4:16 PM

Malaysian authorities have imposed fines of around USD 100-million on 80-entities, intensifying their pursuit of people allegedly linked to the massive 1MDB corruption-scandal, the anti-graft chief said. The people and entities targeted are accused of receiving money pilfered from 1MDB via an-account-linked to Najib. The fines are linked to a-wide-ranging-probe into billions of dollars that were looted from state-investment-fund 1MDB between 2009 and 2014.
 
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Indian Islamic preacher apologizes to Malaysians for racial remarks

Tuesday, August 20, 2019, 9:25 PM

Controversial Indian Islamic preacher Zakir Naik apologized on Tuesday for making racially sensitive remarks in Malaysia, after police banned him from speaking in public and questioned him for hours over the comments. Naik, who faces charges of money laundering and hate speech in India, has come under fire for comments that pitted Malaysia's ethnic and religious minorities against the predominantly Muslim Malay majority.

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