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Malaysia and Singapore to Boost Cybercrime Cooperation in Cross-Border Crime Agreement

Key Takeaway: Cybercrime will be included in Malaysia-Singapore cross-border crime cooperation , as the two countries prepare to renew their Memorandum of Understanding (MOU) on the matter. Malaysia’s Home Minister, Datuk Seri Saifuddin Nasution Ismail, announced that cybercrime will be a new focus in Malaysia-Singapore cross-border crime collaboration . The updated MOU will be signed on Nov 14 during Saifuddin’s meeting with Singapore’s Minister of Home Affairs and Law, K. Shanmugam. This move reflects the growing threat of cybercrime , which costs ASEAN an estimated US$64 billion annually. The agreement emphasizes capacity-building, intelligence-sharing, and joint operations as vital components for addressing cybercrime. The exchange of MOU documents will occur at the Annual Leaders' Retreat on Dec 8 in Malaysia, which will be attended by the prime ministers of both nations. Saifuddin also highlighted plans to discuss border congestion issues and will visit Singapore’s Immi
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Palm Oil Prices to Stay High Through 1Q2025, Upside Limited, Says BMI

Palm oil prices are expected to stay above RM5,000 through 1Q2025 due to tight supplies from Indonesia and Malaysia and Indonesia’s upcoming B40 biodiesel mandate, according to BMI (Fitch Group). However, additional price increases may be limited by seasonal factors, including reduced demand in the northern hemisphere and the end of Diwali-driven buying in India.

La Niña conditions anticipated in 4Q2024 could influence production, with mild rainfall potentially boosting yields without severe flooding. The B40 biodiesel mandate rollout in Indonesia is also seen as a factor that could impact supply-demand dynamics.

BMI notes that palm oil demand in food processing remains strong, though household-level substitution to other edible oils could occur due to palm oil's price premium over soybean oil.

BMI projects the global palm oil surplus to narrow from 1.8 million tonnes in 2023/2024 to 1.1 million tonnes in 2024/2025, contrasting with USDA’s higher surplus forecasts. Production is expected to grow modestly, while consumption is forecasted to rise from 74.3 million tonnes to 78.5 million tonnes by 2024/2025.

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