SoHEEM Ytl2023...pot calling the kettle black...hah! I already have 5 rounds of profit under my belt over the past decade in Jaya Tiasa. A 100% win record highlighted by a sale AT the very PEAK in '24, but Ytl2023 masuk once only sudah sangkut...above 1.40 & then again @ 1.22...😆
Anwar is indeed not friendly to palm oil industry.....aside only increase small threshold for 3% windfall tax, there are multiple headwinds to CPO industry: wages hike + employer to bear foreign worker EPF + increase export tax
Effective Nov 1, 2024, the revised Malaysian export duty schedule will include additional export taxes involving crude palm oil (CPO) prices of between RM3,601-RM3,750 per metric tonne that is subjected to an export duty rate of 8.5 per cent; followed by RM3,751-RM3,900 at 9.0 per cent; RM3,901-RM4,050 (9.5 per cent); and more than RM4,050 (10 per cent).
A calculation by RHB Research showed that under the new minimum wage of RM1,700, employers will have to bear an additional cost of RM221 monthly per worker.
employer to bear foreign worker EPF, the higher foreign worker earn the higher employer need to paid their EPF which is based on 12% + increase export tax impact could be significantly erode profit margin as tax is based on gross revenue CPO price instead of profit....
fcpo approaching rm4500 now, up rm700 since average rm3800 last quarter. And u ppl still worry about the rm200 wage increment where it is partially offset by the increment of windfax tax threshold.
@TheContrarian, Sudden spike on CPO price and Mike-tikus run to Yinson to bite Philip leg instead of at plantation stealing palm fruits cause Jayatiasa to spike up 7 sen.
Hope more to come.
Market Information Market Data Overview Market Data Overview As at 23 Oct 2024 05:04 PM Prices are delayed by 15 minutes
Derivatives Night & Day Session Night Session NO NAME MONTH LAST DONE CHANGE VOL (`00) OI 1 FCPO Jan 2025 4,486.0000 +100.0000 48,325 132,141 2 FCPO Dec 2024 4,512.0000 +101.0000 10,171 55,600 3 FCPO Feb 2025 4,441.0000 +96.0000 8,610 31,525 4 FCPO Mar 2025 4,392.0000 +93.0000 8,558 30,163 5 FKLI Oct 2024 1,642.0000 - 3,418 42,657 6 FCPO Apr 2025 4,336.0000 +86.0000 2,842 18,067 7 FCPO Nov 2024 4,560.0000 +110.0000 2,831 17,932
Haha why Indonesia is rushing from B35 to B40 to B50 .. one of the reasons is on EUDR :
Postponement of EUDR's entry into application
The Commission is proposing an amendment to the EUDR that would postpone (a) its date of entry into application from 30 December 2024 to 30 December 2025 (and till 30 June 2026 for small and micro-enterprises) and (b) benchmarking deadline to 30 June 2025.
During Indonesia CPO export Banned .. inflation rate is getting High n Cooking Oil price is hike , and need money for Biodiesel subsidise .
During Indonesia CPO export Banned .. inflation rate is getting High n Cooking Oil price is hike , and need money for Biodiesel subsidise … thus export banned is cancelled.
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dompeilee
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Posted by dompeilee > 3 weeks ago | Report Abuse
SoHEEM Ytl2023...pot calling the kettle black...hah! I already have 5 rounds of profit under my belt over the past decade in Jaya Tiasa. A 100% win record highlighted by a sale AT the very PEAK in '24, but Ytl2023 masuk once only sudah sangkut...above 1.40 & then again @ 1.22...😆