KOTA KINABALU (March 12): Former Sabah Department of Industrial Development and Research (DIDR) director Tseu Kei Yue pleaded not guilty at the Special Corruption Court here on Thursday to 20 counts of abetting staff members in obtaining valuable items from companies that had official dealings with the department three years ago. Tseu, 58, who is currently serving as deputy director of the Sabah Economic Planning Unit, made the plea after all the charges were read out before Judge Elsie Primus. According to the charges, he was accused of abetting several staff members of the department to obtain valuable items without payment from several companies that had official working relations with the department, involving items worth more than RM100,000. Malaysian Anti-Corruption Commission (MACC) deputy public prosecutor for Sabah Rustam Sanip appeared for the prosecution, while the accused was represented by counsel Bartholomew Jingulam. The court fixed April 24 for remention.

They signal a deeper crisis in the foundations of the international order that has governed global affairs since the end of the Second World War. The strikes on Iran, conducted without the authorisation of the United Nations Security Council, therefore raise serious legal and moral questions. The United States, as the principal architect of the post-Cold War order, now faces its own dilemma. The philosopher Immanuel Kant argued that durable peace requires not merely the absence of war but the presence of institutions, norms and mutual recognition that make war increasingly irrational. What is required now is strategic restraint, serious diplomacy and a renewed commitment to the principles that once underpinned the international order.

MUMBAI (March 12): India's palm oil imports jumped 11% to a six-month high in February, as a wider discount versus rival oils prompted refiners to boost purchases and curb sunflower oil imports, a leading trade body said on Thursday. India's increased imports of palm oil and soyoil could reduce stocks in Indonesia and Malaysia, boosting Malaysian palm oil and US soyoil futures. Imports of soyoil in February rose 7% to 299,046 tonnes from the previous month, which was a 19-month low, and sunflower oil imports were down about 45% to 145,308 tonnes, the SEA said. Total vegetable oil imports fell 2% to 1.32 million tonnes due to the sharp drop in sunflower oil purchases, the statement added. India buys palm oil mainly from Indonesia and Malaysia, and imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine.

That course of action is again part of the narrative as energy prices surged after the United States and Israeli assault on Iran and Tehran’s retaliation. (Oil prices surged to the highest level since 2022 Monday, before retreating on Tuesday as the White House foreshadowed a quick end to fighting). The Reserve Bank of India only recently brought its easing cycle to an end; investors had envisaged a period of stability. Traders have placed bets on the European Central Bank hiking this year and the Bank of England delaying its next reduction, at the very least. Will the dramatic escalation in oil prices bring all this undone?

PETALING JAYA: Analysts expect the rising crude oil prices and higher freight costs amid current tensions in the Middle East could improve biodiesel economics and strengthen demand for palm oil as a key feedstock. Industry sources indicate that buyers across Asia have accelerated purchases to mitigate potential shipping disruptions and hedge against further price increases, providing near-term support to palm oil prices, according to the research house. Indonesia, the world’s largest palm oil producer, is also reassessing the potential rollout of its delayed B50 biodiesel mandate following the surge in global energy prices. A plantation analyst with a local research house said: “If implemented, this could materially increase domestic palm oil consumption and reduce export availability, thereby tightening global supply.”TA Research, meanwhile, has kept its average crude palm oil (CPO) assumption at RM4,000 per tonne at this juncture. On the positive side, RHB Research said the spike in crude oil prices, up 30.7% since the Middle East war started, has raised CPO prices by 11.6% in the same period.

PETALING JAYA: The country is strengthening efforts to adopt smarter mobility systems as vehicle numbers continue to rise and the road network expands, says Works Minister Datuk Seri Alexander Nanta Linggi. He said the government is moving beyond simply building new roads by expanding the use of Intelligent Transport Systems (ITS) and digital platforms to improve traffic monitoring, road safety and mobility management. He said the need for smarter mobility management is becoming increasingly important, with more than 1.57 million new vehicles registered in 2024. It is about building infrastructure that is smarter, safer and more sustainable for the well-being of the people and the progress of the nation,” he said. /endWorks Minister, Alexander Nanta Linggi, Intelligent Transport Systems, ITS, Roadwork, Digital Platform, Traffic

According to a statement on Thursday, the agreement is effective immediately for an initial three-year term, positioning GSEA as an approved partner with iConn’s global engineered manufacturing network. The partnership is designed to support multinational original equipment manufacturer (OEM) customers pursuing ‘China+1’ supply chain diversification strategies. The collaboration accelerates the group’s CEB 2.0 asset-light strategy, enabling expansion of high-value manufacturing capacity without significant capital expenditure. On the deal, iConn chief executive officer Turker Hidirlar added that US-based customers are actively seeking reliable alternatives to China. “This partnership bridges demand with top-tier Southeast Asian execution, managed through iConn’s digital manufacturing platform built on Oracle NetSuite”, he said.

KUALA LUMPUR: The ringgit extended gains against the US dollar and other currencies at Thursday’s opening, supported by stabilising oil prices following the International Energy Agency’s (IEA) decision to release additional supply into the market, an economist said. The United States also followed the move, announcing the release of 172 million barrels of oil into the domestic market. "Such decisions aim to stabilise oil prices, especially at the retail level. "Clearly, the Iran war has taken a toll on retail oil prices, as rising costs can undermine consumers’ purchasing power,” he told Bernama. The ringgit strengthened against the Indonesian rupiah to 231.7/233.1 from 232.0/232.4 and improved against the Philippine peso to 6.61/6.66 from 6.62/6.64 on Wednesday.

PUTRAJAYA: The Domestic Trade and Cost of Living Ministry is strengthening enforcement of the RON95 petrol subsidy under the the Budi Madani RON95 (Budi95) initiative nationwide through an intelligence-led approach to prevent misuse. Its Enforcement Director-General Azman Adam said the move aims to ensure there are no leakages in the implementation of Budi95. Meanwhile, Azman said the ministry is intensifying monitoring at petrol stations nationwide to prevent leakages through a new modus operandi. Meanwhile, Azman also said the ministry has established strategic cooperation with several enforcement agencies, including the police and the Customs Department, to combat subsidy abuse. He warned that the ministry will not compromise with any party involved in subsidised petrol abuse.

The US financial group's measures are the latest sign of growing concern among banks after Iran threatened Gulf banking ​interests linked to the US ‌and Israel. Citi had moved to a fully remote model for all UAE-based staff and was continuing to serve clients without interruption, a spokesperson for the bank told Reuters. Citi told its staff to evacuate offices in the Dubai International Financial Centre and Dubai's Oud Metha district this week and to work from home until further notice. HSBC, another major global bank, has closed all branches in Qatar until further notice, a customer notice said, to ensure the safety of staff and customers. Citi said on its website that its phone banking service in the UAE was currently operating at a limited capacity and the processing of cheques would experience delays.

Hong Kong singer-actor Aaron Kwok may be 60, but he looks way younger and continues staying in enviable shape. During his show, Kwok spoke about his age and striking appearance, saying people rarely believe him whenever he reveals his actual age. "Even I don't believe it myself," he joked, before continuing, "Is my identification card wrong? As for how he maintains his youthful looks, the Cantopop star said there's no secret formula. I just drink water and coffee … I drink dozens of cups of coffee a day," he said.

They warn that the rising strategic importance of the strait underscores the need for stronger cooperation among Asean nations to safeguard regional sovereignty and stability in one of the world’s busiest shipping routes. Asean and Middle East geopolitical expert Dr Abdolreza Alami said any prolonged disruption in the Strait of Hormuz would inevitably redirect global attention towards South-East Asia and Strait of Malacca. “The reason is clear: about 30% of global trade and over 80% of oil imports for countries such as China and Japan pass through this strait,” he said. “In a situation where the importance of the Strait of Malacca is increasing, the only way to preserve the sovereignty and interests of regional countries is to strengthen collective cooperation,” he said. “At the moment, Asean countries approach maritime security individually.

(March 12): M&G plc’s profit for the year topped expectations as the UK insurer and asset manager saw net flows into its funds turn positive. Adjusted operating profit came in at £838 million (RM4.41 billion) in 2025, according to a statement on Thursday. The figure was flat compared to 2024 but ahead of the £826 million consensus estimate compiled by Bloomberg. The targets include a goal of at least 5% average annual growth in adjusted pretax operating profit through 2027. In May, Rossi struck a distribution partnership with Dai-ichi Life Holdings Inc that will see the Japanese insurer take a roughly 15% stake in M&G.

(March 12): Standard Bank Group Ltd, Africa’s biggest lender by assets, reported record profit as a growing client base bolstered fee and commission income, and as market volatility drove trading revenue. Headline earnings for the year climbed 10.5% to 49.2 billion rand (US$2.9 billion or RM11.5 billion), the Johannesburg-based lender said. That compares with the 48.2 billion rand median estimate compiled by Bloomberg. Non-interest revenue grew 10% to 63.75 billion rand. Standard Bank said it has cumulatively mobilised more than 277 billion rand in sustainable finance since 2022, with 100 billion rand added in 2025 alone.

The investigation covers China, the European Union, Singapore, Switzerland, Norway, Indonesia, Malaysia, Cambodia, Thailand, South Korea, Vietnam, Taiwan, Bangladesh, Mexico, Japan and India. On Malaysia specifically, the USTR said evidence of structural excess capacity and production exists for Malaysia through its large or persistent goods trade surpluses. “In 2024, Malaysia’s trade surplus was 7.3% of its GDP, or US$31bil, down from US$47bil in 2023... In 2024, Malaysia maintained a bilateral goods and services trade surplus with the United States of US$16bil. "Most of this surplus is focused on goods trade, particularly in sectors such as electronics or machinery.