<b>Sabah</b>, Sarawak register normal rainfall despite El Nino risk <b>...</b> Berita Sabah - News 2 Sabah |
| <b>Sabah</b>, Sarawak register normal rainfall despite El Nino risk <b>...</b> Posted: 09 Apr 2014 09:44 AM PDT KUCHING: The Borneo island comprising Sabah, Sarawak and Kalimantan have been registering largely normal rainfall in the first quarter of 2014 (1Q14), despite a rising risk of a weak El Nino in the second half (2H) of the year. According to the research arm of Maybank Investment Bank Bhd (Maybank IB Research), Peninsular Malaysia and parts of Sumatra had in contrast only managed to experience below average rainfall in March after a very dry February. Quoting the Australian Bureau of Meteorology's (ABM) latest update issued on Tuesday, the research arm highlighted that it is now likely (estimated at greater than 70 per cent chance) that an El Niño will develop during the southern hemisphere winter. "According to the Meteorological Service Singapore, the majority of climate models are also projecting a likelihood of a weak El Nino developing in 2H14," it added. It noted that the Met departments predict slightly below normal rainfall in April and normal rainfall in May. "In our view, a weak El Nino will have a more muted positive impact on crude palm oil (CPO) price compared to a strong El Nino. A close monitoring of indicators and rainfall forecasts are crucial," it opined. In the immediate term, Maybank IB Research observed that the market generally remains concerned over the ample oilseeds situation arising from the ongoing soybean harvest in South America, and recently announced planting intention in the USA (which favours soybean planting over corn). In regards to the CPO price, the research arm of MIDF Amanah Investment Bank Bhd (MIDF Reserach) noted that since mid-March, the price has been on the decline due to weakening sentiment over exports. MIDF Reserach further noted that for March 2014, the independent cargo surveyors, Intertek Testing Services (ITS) and Societe Generale de Surveillance (SGS) have estimated that Malaysia's palm oil exports fell 3.1 per cent month on month (m-o-m) and 3.4 per cent m-o-m respectively. "Despite a weaker export sentiment, we expect palm oil inventory in March to remain below 1.70 million metric tonnes (mmt) as we anticipate a slower production growth due to the dry weather condition. "We expect CPO production in March to grow approximately by 1-2 per cent year on year (y-o-y) compared to the production growth of 9.4 per cent y-o-y recorded in March 2013," the research arm projected. According to Maybank IB Research, CPO price traditionally weakens towards the middle of the year in anticipation of larger CPO output in 2H of the year. "Hence, we believe CPO price will trade between RM2,400 per tonne to RM2,600 per tonne towards mid-year. Our CPO average selling price (ASP) forecast of RM2,600 per tonne is unchanged for 2014 and 2015. "But for every RM100 per tonne change in our CPO price forecasts, the earnings forecasts for plantation stocks under our coverage changes by five per cent to 12 per cent respectively," it explained.   |
| 26 PKR <b>Sabah</b> divs to hold elections next month – BorneoPost <b>...</b> Posted: 02 Apr 2014 04:49 PM PDT KOTA KINABALU: Parti KeADILan Rakyat (PKR) Sabah divisions will be holding their respective annual general meetings and elections next month. State liaison chairman Datuk Seri Panglima Lajim Ukin said that the divisions can hold their meetings on either May 3 or 4. Lajim said that PKR central leadership had decided that Sabah, with 26 divisions including Labuan FT, hold the annual general meeting and election for divisional as well as central leadership posts on these two dates. Voting will be opened for not less than six hours in the respective divisions where the 92,873 Sabah PKR members will be casting their votes. Speaking to reporters at Sabah PKR headquarters in Kepayan yesterday, Lajim said in view of that, the state leadership has decided that the nomination dates for the divisional posts will be held on April 5 and 6 at its premises. Those who want to contest can submit their nomination forms between 9am and 5pm on both days, he said. "Nominees, however, must meet the criteria in order to qualify for election and one of the criteria is that they must have a valid PKR membership of not less than a year. Those whose membership is less than one year will be allowed to contest if they obtain the approval to do so from the party president. "Those nominated must also pay a membership and election fee. For those contesting the post of divisional chief, they have to pay RM200, deputy chief and vice chief RM50 each and RM20 each for those contesting for a supreme council post," he said, adding that they each need to pay an additional RM2 as processing fee. The fee will be refunded if they decide to withdraw from the party elections, Lajim said and added that they would be given 10 days from April 6 to make up their minds. The aspiring candidates, however, are permitted to submit their nomination forms now without having to wait for this weekend to do so. The forms must however fulfill the requirements of the party's election department committee and the seconders must be members from the candidate(s) respective divisions. The seconders are also each required to pay the RM2 processing fee, Lajim said, adding that a mini bazaar would be held at the state PKR headquarters on the two days. Asked if any divisions that would be highly contested, Lajim said that through his observations, the hot seats are likely to be Silam, Ranau, Kudat and Semporna. "The keen contest is a good sign as it shows that the aspiring leaders are not afraid of Barisan Nasional (BN). In fact there are a few Government officers who have expressed their desire to contest but I advised them to get their employer's approval before doing so," Lajim said. He added that so many PKR members were interested to contest also shows that the party is a democratic one and he is ready to face any challengers for the Beaufort divisional chief post. He also advised all candidates for the party's central leadership who want to campaign in Sabah to get the assistance of the state's leadership to make the arrangements for them. "I also advise those who are campaigning to do so in a proper manner as we will not tolerate personal attacks among the fellow candidates," Lajim said. According to Lajim, six PKR members from Sabah have announced their intention to contest the party's election and they are Deputy State Liaison chief Christina Liew, vice chief Dr Roland Chia, secretary Datuk James Ghani, deputy information chief Taufik Ruschi and Mustafa Sakmud. |
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