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Slow replanting of palm a blow to Indonesia's efforts on environment

JAKARTA: An ambitious scheme to replant about a fifth of the land under palm oil in Indonesia is running far behind schedule, marking a blow to efforts by the world's top producer to lift yields and fend off attacks on the sustainability of the crop.

President Joko Widodo(pic) launched the scheme in late 2017, but funding had been disbursed to replant less than 15,000 hectares by last November, against an initial 2018 goal of 185,000 hectares, according to data from the Coordinating Ministry for Economic Affairs.  "Since there has been a growing global backlash against palm oil, it is crucial the replanting programme is carried out as soon as possible," said Thontowi Suhada, a researcher at the U.S.-based World Resources Institute (WRI).

MyEG courier service licence renewed

PETALING JAYA: MyEG Services Bhd has received notification from the Malaysian Communications and Multimedia Commission (MCMC) in relation to the approval on the renewal of the company’s Courier Service Licence pursuant to the Postal Service Act, 1991.

MyEG said the renewed licence would enable MyEG to continue expanding its e-fulfilment service, which uses its own proprietary biometric verification technology.

Wellcall’s target price raised on joint venture

PETALING JAYA: CIMB Research has taken a positive view on industrial rubber hose manufacturer Wellcall Holdings Bhd’s joint venture (JV) with Swedish firm Trelleborg Holding AB (THAB) to produce and market composite hose and fittings.

The composite hose manufacturing plant, which shall be located within the vicinity of Wellcall’s existing facility, is targeted for commissioning by end-2019, with two production lines and auxiliary equipment

UK leads Europe's car market to slip first time since 2013

MUNICH: Annual car sales in Europe dropped for the first time since 2013, led by a sagging U.K. market where concerns over Brexit turned off consumers -- and have only intensified as politicians argue over the path to a divorce.