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The Politics of Bread, Sugar and other UMNO Businesses in Malaysia: Crony Companies
SUGAR: SWEET TO THE TASTE BUT NOT SWEET FOR YOUR LIFE!
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29 Nov 2016
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Hike in premium sugar price up to 30% this month http://dlvr.it/MmHh5c
PETALING JAYA: The high global price of raw sugar, plus the falling ringgit, have pushed up prices of premium sugar this month, said producers.
MSM Malaysia Holdings Bhd, the country’s largest refined sugar producer, said it had increased the prices of its premium sugar to wholesalers by 20% to 30% in November.
While the prices of coarse granulated and fine granulated sugar are controlled by the Government, a source from the company explained that the prices of premium sugar – caster, icing, brown and soft brown sugar – are not.
Prices of premium sugar was last adjusted in 2012, she said.
Wholesalers were expected to pass on the extra cost from this latest price hike to retailers, who would in turn increase the retail price of premium sugar.
This is likely to put a strain on those who use premium sugar.
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It was reported on Nov 22 that MSM Malaysia has requested the Government to look into raising the ceiling price of sugar by 20% to 30%, citing a hike in world price for sugar and foreign exchange loss.
The current ceiling price for coarse granulated sugar is RM2.84 per kg, and RM2.94 per kg for fine granulated sugar.
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Sugar price will increase from rm2.85 to rm3.35 app 15% naik fr 1/12/16. Ummo/bn promised 7 janji which hve realized & put rakyat suffering.
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Jan 2016
The current price of sugar in Malaysia is RM2.84 per kg. Consider the fact that global sugar prices have fallen sharply since July 2014, why is sugar still so expensive in Malaysia?
If they are really genuine about reducing prices, how about cutting the price of sugar?
The Politics of Bread, Sugar and other UMNO Businesses in Malaysia: Crony Companies
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DEFINITION of ‘Sugar No.11’
A futures contract for the physical delivery of raw cane sugar. The Sugar No.11 contract includes shipping costs to the purchaser’s ship at a port inside the country selling the sugar, a type of shipping called free on board. One Sugar No.11 contract represents 112,000 pounds of raw cane sugar.
(http://www.investopedia.com/terms/s/sugar-11.asp)
Sugar
Latest Price & Chart for Sugar #11
End of day Commodity Futures Price Quotes for Sugar #11
http://www.nasdaq.com/markets/sugar.aspx?timeframe=1y
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THE SUGAR MONOPOLY IN MALAYSIA IS, STRICTLY SPEAKING, A DUOPOLY. A duopoly is a situation in which two companies own all or nearly all of the market for a given product or service.
The two companies which control the local sugar industry are Malayan Sugar Manufacturing (MSM) and Central Sugar Refeneries (CSR) .
MSM is owned by Felda Global Ventures while CSR is a member of Tradewinds (M) Bhd, owned by billionaire Tan Seri Syed Mokhtar Al-Bukhary.
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Rakyat Post
Sugar prices inflated in Malaysia?
CYBERJAYA, Oct 14:
JUDGING by how global sugar prices have fallen sharply in recent months, the commodity should now be cheaper in Malaysia.
This was confirmed today by Deputy Finance Minister I Datuk Ahmad Maslan after a briefing at the Inland Revenue Board headquarters here on new taxes proposed last Friday during the 2015 Budget announcement.
He said sugar was no longer a price-controlled item in Malaysia as of Oct 25, 2013 when Prime Minister Datuk Seri Najib Razak announced the abolition of all subsidies for sugar.
While the price of sugar was set at RM2.84 per kg then, this price has remained over the past one year — despite global prices for this natural sweetener plunging in January this year.
After rising again to just above the RM2.84 per kg mark in June, global sugar prices have been on a downtrend since then.
But within Malaysia, the RM2.84 price tag for sugar has remained firm these past 13 months.
Ahmad Maslan said this should not be the case as sugar was now market priced.
http://www.therakyatpost.com/news/2014/10/14/sugar-prices-inflated-malaysia/
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Felda and government linked tycoon Syed Mokhtar Al Bukhari hold a monopoly over suagr in the country.
Malaysiakini
PKR has questioned the motive behind the government’s decision to enter into a long term contract with other countries to buy raw sugar at prices currently higher than the market rates, when the sugar industry is monopolised by private companies and any profit would go to them.
Its strategic director Rafizi Ramli (left) said during a press conference at the Parliament lobby today, that the Domestic Trade, Cooperatives and Consumerism Ministry has confirmed that the government has entered into such a contract in Parliament last Thursday. Further details were not divulged.
PKR: Why is gov’t so sweet to sugar tycoons?
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Malaysian Insider
Shahrir Samad calls for end to sugar monopolies
October 30, 2013
Backbenchers Club chairman Tan Sri Shahrir Abdul Samad (BN-Johor Baru) today called for an end to sugar monopolies in the country now that the sugar subsidy has been removed.
“With the subsidy removed, the sugar industry should be liberalised. Import of the commodity should be allowed for instance from Thailand and allow market forces dictate the price of processed sugar.
“Monopolies for sugar supply must be ended. There should also be no cartels fixing the price (of processed sugar),” he said when debating the Supply Bill 2014 in the Dewan Rakyat today.
http://www.themalaysianinsider.com/malaysia/article/shahrir-samad-calls-for-end-to-sugar-monopolies
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WHY IS SUGAR CHEAPER IN THAILAND THAN HERE IN MALAYSIA?
Liked · about an hour ago
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Free Malaysia Today
‘Stop lies on sugar subsidy cut’
The sugar subsidy cut was not for health concerns, but for financial reasons, claims DAP MP.
KUALA LUMPUR: Petaling Jaya Utara MP Tony Pua has accused Putrajaya of misleading the public on the real reason behind the removal of the sugar subsidy, as announced during Budget 2014 last Friday.
The DAP MP today claimed the government had abolished the sugar subsidy of 34 sen as the then Domestic Trade Cooperatives and Consumerism Minister Ismail Sabri had signed a three-year contract in 2012 to import raw sugar at an exorbitant price of US$26 per 100lbs.
“The real reason why the people are forced to enjoy sugar at a high price is because the government had signed an agreement to import raw sugar which is priced too highly,” Pua said in a statement here.
“If we consider the current international price of raw sugar, which is US$18.91 for every 100lbs, the government would not only be free from allocating subsidies (for sugar), moreover the price of sugar (in Malaysia) will be cheaper than the current rate of RM2.84 per kilo,” he added.
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Pua then disclosed that the international price of raw sugar has dropped to as low as US$16.70 per 100lbs in September 2013.
http://www.freemalaysiatoday.com/category/nation/2013/10/29/stop-lies-on-sugar-subsidy-cut/
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Malaysiakini
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SG LIMAU The son of the late Sg Limau assemblyperson Azizan Abdul Razak has demanded an apology from Deputy Prime Minister Muhyiddin Yassin over his statement related to his dad’s diabetes condition.
Azizan’s son Muhammad Rafi’ie said he represents the two families to voice out their sadness about Muhyiddin’s (left) comment.
Azizan had two wives, and their families have members in both BN and PAS. Rafi’ie is the fifth son from the first wife.
Azizan’s son wants apology over diabetes remark
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THEY ARE LAUGHING LOUDER THAN EVER ON THE WAY TO THE BANK!
Malaysiakini
PARLIAMENT Sugar tycoons in the country, mainly the politically connected Syed Mokhtar Al Bukhary’s Central Sugar Refinery, can chalk up profits of RM1 billion as a result of the government’s abolition of the sugar subsidy in the 2014 Budget, Opposition Leader Anwar Ibrahim said today.
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Central Sugar and Malaysian Sugar Manufacturing (owned by Felda Global Ventures) currently hold the monopoly over the sugar industry in the country.
PKR: Subsidy removal gives sugar tycoons RM1bil more
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BUDGET 2014
With effect from Saturday, 29 October 2013, the subsidy for sugar has been reduced completely. Sugar will be RM2.84@kg.
THEY’VE REDUCED THE SUBSIDY FOR SUGAR COMPLETELY AND NOW THEY’RE TRYING TO JUSTIFY IT!
The DPM talks about losing your leg to sugar while the PM talks about losing your sex life!
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For Najib and Rosmah, silence is not an option – Malaysiakiniwww.malaysiakini.com
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Sugar is a controlled item.
Star
YAN: The Domestic Trade, Cooperative and Consumerism Ministry enforcement team has detained two traders Friday night for hiding sugar in their premises in Putrajaya.
Two traders detained for hiding sugar in Putrajaya
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NAJIB’S EXCUSE FOR ABOLISHING THE SUGAR SUBSIDY IS CHALLENGED BY DOCTORS!
Prime Minister Datuk Seri Najib Razak, in his 2014 Budget announcement yesterday, said 2.6 million Malaysians under the age of 30 were diabetic patients. Najib said the 34 sen subsidy per kilogram for sugar will be abolished from today, pushing the price to RM2.84 per kg.
However, doctors took exception to the Prime Minister’s statement with one doctor rebutting the government’s rationale that it was raising sugar prices to curb the increase of diabetes in the country.
Dr P. Ramesh said that Putrajaya only removed the subsidy because it wanted to spend the money saved elsewhere. He said the move would not reduce the risk of more Malaysians becoming diabetic, adding that the disease could also be acquired through heavy consumption of carbohydrates found in rice and meat.
“Many Malaysians are obese and overweight not because they consume sugar, but due to excessive intake of food and drink. The problem is compounded as many do not do regular exercise.
“So, for the government to claim that it was removing the sugar subsidy to curb diabetes is a lame excuse,” said Dr Ramesh. – October 26, 2013.
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Malaysian Insider
Now, Health Minister and Deputy Prime Minister disagree on cause of diabetes
October 26, 2013
The Deputy Prime Minister and the Health Minister are not on the same page when it comes to what causes diabetes.
While Tan Sri Muhyiddin Yassin (pic) used former Kedah Menteri Besar Tan Sri Azizan as an example to justify the ending of the sugar subsidy, Dr S. Subramaniam said sugar intake alone is not the primary cause of diabetes.
Azizan was a diabetic and had both his legs amputated immediately after the May 5 general election because of infection brought about by diabetes.
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“Because of this (consuming sugar), he is forced to go through the process where his legs had to be amputated,” Muhyiddin was reported as saying by the Malaysiakini news portal today.
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This morning, Health Minister Datuk Seri Dr Subramaniam said diabetes in the country is not a product of just sugar consumption but noted that uncontrolled sugar intake can cause chronic diabetes and obesity.
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Malaysiakin
Prime Minister Najib Abdul Razak has defended the government’s move to abolish the sugar subsidy effective today, warning that over consumption of sugar can even affect one’s libido.
Officiating the Gerakan national delegates conference (NDC) this morning, he said this was in addition to the diabetic symptoms that he had warned in his budget speech yesterday, such as poor vision, gangrene and being dependent on a dialysis machine.
“There is one more thing: Your libido might also be affected. I think if the late (Gerakan president) Lim Keng Yaik was here, he will put it in a more colourful manner.
“I leave it to your imagination. I am not going to say what I think he would have said,” Najib told the Gerakan delegates, who burst into laughter. Najib spoke in the hall bearing Lim’s name.
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“Sugar is bad for you. I too have learnt to have tea without sugar. You can change for your own good. If this is a responsible government, we must teach people the right things,” he said.
Najib: Sugar subsidy cut good for your sex life
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Azizan, the former Sungai Limau state assemblyperson for five terms, died recently.
Malaysiakini
SG LIMAU Deputy Prime Minister Muhyiddin Yassin today justified abolishing the sugar subsidy by pointing to former Kedah mentri besar the late Azizan Abdul Razak, whose legs were amputated due to diabetes prior to his death on Sept 26.
“The problem with Malaysia is, we’re prosperous.
“Those who died are destined by Allah, but in this world, many are eating a lot at the same time taking a lot of sugar, until……I don’t have to elaborate much about the late (Azizan, right).
“Because of this (consuming sugar), he is forced to go through the process where his legs had to be amputated,” Muhyiddin said.
The DPM was trying to justify the subsidy cut, saying the government wanted to control the people’s high sugar consumption as it led to health problems.
Muhyiddin uses Azizan to justify sugar subsidy cut
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The Srar
Saturday October 26, 2013 MYT 11:18:54 AM
Budget 2014: Subsidy removal sparks sugar rush
BAGS of sugar were “flying” off the shelves in supermarkets and shops soon after it was announced that subsidy on the item would be abolished.
The directive takes effect today.
In George Town, Sun-shine Square Bayan Baru supermarket manager Loo Toon Hean said 188 packets of 500gm sugar were sold within an hour of the announcement.
“Most of the buyers I recognised as hawkers and coffee shop operators, who snapped up as many packets as they could,” said Loo.
Budget 2014: Subsidy removal sparks sugar rush
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MySinchew.com
Sugar price goes up 34 sen
2013-10-26 11:13
KUALA LUMPUR, Oct 25 (Bernama) — Sugar price will go up from RM2.50 to RM2.84 per kg with the abolition of the 34 sen sugar subsidy from Saturday, said Minister of Domestic Trade, Cooperatives and Consumerism Datuk Hasan Malek.
He said the sugar subsidy reduction measure announced by Prime Minister Datuk Seri Najib Tun Razak in the Budget 2014 today, ccould save the country RM64.02 million this year and RM551.25 million next year.
“These savings will be used to finance future infrastructure development in the country,” he told reporters at the Parliament lobby here, today.
Hasan said he wanted people, especially traders to see the sugar subsidy reduction in a positive light and not raise prices of sugar-based food dramatically.
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