Companies such as Top Glove Corp Bhd, Supermax Cop Bhd, Hartalega Holdings Bhd and Kossan Rubber Industries Bhdare among strong beneficiaries from the strong greenback. Their costs are in Ringgit, while their earnings are mostly in US dollar. The question…
Category: Industry News
The low-profile success of Vietnam as a rubber producer
Vietnam’s rise to the ranks as the third largest rubber producer globally, came through a series of economic transitioning spurred by eco-political reforms as well as regional partnerships…
Damage assessed at China port blasts
Automakers have scrambled to asses the damage to its its cars after two massive explosions ripped through the port city of Tianjin. French carmaker Renault SA (RENA.PA) said nearly 1,500 of its imported cars stored in a warehouse at the…
461,300 Volkswagen cars in US and Canada recalled in tyre scare
461,300 Volkswagen cars in US and Canada have been recalled so that the compay can fix the air bags from deploying The recall includes VW Golf, Passat, Jetta, and Tiguan models. No accidents or injuries related to the problem have…
Malaysian rubber market to trade prudently this week
Due to weakening Ringgit, the Malaysian rubber market will trade cautiously this week, a dealer said. He also noted that market was closely monitoring the performance of the yuan as China is the top rubber consumer as well as the…
RapidKL signs MoU to use green tyres
Prasarana Malaysia Bhd has signed a memorandum of understanding with Malaysian Rubber Board (LGM). This will allow the transportation compay to use Ekoprena tyres on its RapidKL buses. Prasarana chairman Tan Sri Ismail Adam said the move emphasised the importance…
Kumho Tire workers go on strike
Workers at Kumho Tire Co., South Korea’s second-biggest tire maker, went on a strike after the managers could not agre to a wage peak system. The eight-hour strike started at 6:30 a.m. The management has been making efforts to adopt…
GM to increase production of big SUVs and trucks
General Motors Co is planning to increase production of its popular lare SUVs and trucks. This move could see an addition of 48,000 to 60, fleets of vehicles in 2016. GM’s Arlington, Texas, plant that makes full-sized sport utility vehicles…
China blast does slight damage to Japanese cars
A blast at a port in China mildly damaged some cars, including that of Touota Motor Corp. The blasts in the city of Tianjin on Wednesday night killed at least 50 people, including a dozen fire fighters, state media said.…
Ansell sees increase in earnings
Rubber company Ansell announced this week that its earnings rose between 11 % to 20 %. But right at the end of the report were the numbers that spooked punters: due to “ongoing uncertainty” earnings a share for the current…