India and ASEAN / East Asia

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g.sarkar
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Re: India and ASEAN / East Asia

Postby g.sarkar » 18 Oct 2019 03:30

https://swarajyamag.com/economy/how-ind ... ssue-at-un
How India Is Responding To Malaysia’s Reckless, Pro-Pakistan Remarks On The Kashmir Issue At UN
by M R Subramani

Oct 16, 2019
India buys more palm oil from Malaysia than China and Pakistan put together.
Malaysia’s reckless, pro-Pakistan statement on Kashmir is costing the country dear.
On 4 October this year, the Ministry of External Affairs came out with a strong statement against Malaysia and Turkey for their comments against India at the United Nations General Assembly on the Kashmir issue.
The ministry spokesman Raveesh Kumar was reacting to both countries criticising New Delhi over the abrogation of Article 370 in Jammu and Kashmir, ending the special status to the border state. Kumar had two messages for both the nations. One, they should obtain a clear understanding of the situation. Two, the Malaysian government should bear in mind its friendly relations with India and desist from making such statements.
Probably, the Food Ministry has followed it up by proposing to raise the integrated goods and services taxes (IGST) to 12 per cent on imports of refined palm oil. The External Affairs Ministry’s statement has hit the Malaysian palm oil market badly as crude palm prices have dropped to the lowest since 3 October to $518 a tonne.
In particular, India’s statement reminding Malaysia of the friendly ties between both countries has affected the palm oil market badly.
Some palm oil importers and refiners in India have taken this as a signal that the Narendra Modi government could further retaliate with trade measures, probably leading to a mini-trade war. These importers and refiners have decided to stop signing any new purchase contract with Malaysian sellers from 1 November. According to Solvent Extractors Association of India, importers had cut down purchases from Kuala Lumpur in September itself when Malaysia criticised India on the Kashmir issue. Crude palm oil prices had ruled at $551 a tonne then.
.....
Gautam

g.sarkar
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Re: India and ASEAN / East Asia

Postby g.sarkar » 20 Oct 2019 10:24

https://www.scmp.com/week-asia/economic ... m-oil-amid
Disgruntled India weighs options on ties and palm oil amid #BoycottMalaysia campaign
The diplomatic fallout from Malaysia’s criticism over Kashmir is spreading to the economy as Indian businesses shun their palm oil suppliers in favour of Indonesian alternatives
With nationalists waging a social media campaign to boycott Malaysian imports, expectations are high that New Delhi will impose curbs or taxes

Vasudevan Sridharan, Tashny Sukumaran
18 Oct, 2019
Traders in India are avoiding Malaysian palm oil imports in favour of purchases from Indonesia amid growing fears that New Delhi is weighing retaliation against the Southeast Asian nation for its criticism over Kashmir and sheltering of wanted Islamic preacher Zakir Naik.
At least three importers said the uncertainty in bilateral relations had forced them to consider alternatives, while a government source who handles India’s trade ties with Southeast Asia struck a note of caution despite saying there was no official word on import curbs yet.
“Anything can happen. Maybe some restrictions will be imposed,” said the source, who did not want to be named as he was not authorised to speak on the matter.
B.V. Mehta, executive director of lobbying group the Solvent Extractors’ Association of India, which represents more than 875 businesses with a combined oil processing capacity of 30 million tonnes, said the Indian government was deeply upset with what officials saw as hostile comments from the Malaysians and would take action in response, “but what type of action is still not clear”.
“Just to safeguard business interests, most refiners and importers have moved from [buying from] Malaysia to Indonesia. After all, the price of palm oil from Indonesia is the same,” he said.
......
Gautam

Cain Marko
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Re: India and ASEAN / East Asia

Postby Cain Marko » 21 Oct 2019 10:47

"How to shoot yourself in the foot and then put that foot in your mouth" by Muhammad Mahathir

g.sarkar
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Re: India and ASEAN / East Asia

Postby g.sarkar » 28 Oct 2019 06:04

https://asia.nikkei.com/Politics/Kashmi ... -oil-trade
Indian anger at Malaysia's Kashmir stance threatens palm oil trade
Mahathir's 'unprovoked' and 'unacceptable' remarks prompt talk of boycott

KIRAN SHARMA, Nikkei staff writer, OCTOBER 26, 2019
NEW DELHI -- India has blasted Malaysia and Turkey for openly supporting its archrival Pakistan on the issue of Kashmir, a Muslim-majority region whose special status was scrapped in August by the government of Prime Minister Narendra Modi.
Amid reports that New Delhi is contemplating trade curbs against the two countries, an influential trade group in India asked its members recently to refrain from importing Malaysian palm oil, in their own interest and as a mark of solidarity with the government.
"The recent developments pertaining to strained relations between our nation and Malaysia have put a lot of responsibility on our industry in view of [the] huge imports of palm oil from that country," said Atul Chaturvedi, president of the Solvent Extractors' Association of India, in an advisory to members.
"Our government has not taken kindly to the unprovoked pronouncements by the Malaysian prime minister, and [it] is contemplating some retaliatory action. It would be [fitting], as a responsible Indian vegetable oil industry, [to] avoid purchasing palm oil from Malaysia till such time as clarity on the way forward emerges from the Indian government," Chaturvedi said.
The association, with 875 members, can process up to 30 million tons of oil seed annually. India is the world's largest buyer of vegetable oils, importing about 9.5 million tons of palm oil per year: 6.5 million tons from Indonesia and 3 million tons from Malaysia.
Elaborating on the advisory, the association's executive director, B.V. Mehta, told the Nikkei Asian Review that it was issued because the trade group feared India may take retaliatory action in the wake of the current tensions with Malaysia that could affect the import of palm oil from the Southeast Asian country.
"We told [our members] to be careful," he said. "If they are buying palm oil from Malaysia, there could be some trouble at a later date [if] the government of India changes its policy." Raveesh Kumar, a spokesman for India's Foreign Ministry, told a media briefing on Thursday that he was not aware of any government decision on retaliation. "In any case," Kumar said, "I think it is important to understand that the decision to import any commodity or otherwise is the prerogative of the importing company. But at the same time, they are not impervious to the state of affairs between any two countries."
.....
Gautam

Rony
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Re: India and ASEAN / East Asia

Postby Rony » 14 Jan 2020 06:49

Leaked phone call between former Malaysian PM Najib Razak pleading with Abu Dhabi’s crown prince Mohammed bin Zayed to help him and his stepson escape prosecution in a multi-billion dollar scandal.


kit
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Re: India and ASEAN / East Asia

Postby kit » 15 Jan 2020 02:06

In a first India is restricting semiconductor imports from Malaysia and setting standards and regulations for imports, interesting, this could actually be a template for future restrictions on Chinese imports

Prem
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Re: India and ASEAN / East Asia

Postby Prem » 15 Jan 2020 02:39

kit wrote:In a first India is restricting semiconductor imports from Malaysia and setting standards and regulations for imports, interesting, this could actually be a template for future restrictions on Chinese imports


There goes another billion out of Malaysian pocket. Soon indisciplined Mahatir gonna lose 1% if Gdp.

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Re: India and ASEAN / East Asia

Postby mappunni » 15 Jan 2020 10:15

kit wrote:In a first India is restricting semiconductor imports from Malaysia and setting standards and regulations for imports, interesting, this could actually be a template for future restrictions on Chinese imports


Any links?

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Re: India and ASEAN / East Asia

Postby kit » 15 Jan 2020 20:29

mappunni wrote:
kit wrote:In a first India is restricting semiconductor imports from Malaysia and setting standards and regulations for imports, interesting, this could actually be a template for future restrictions on Chinese imports


Any links?



https://timesofindia.indiatimes.com/business/india-business/more-curbs-likely-on-imports-from-malaysia-key-things-to-know/articleshow/73270373.cms

kit
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Re: India and ASEAN / East Asia

Postby kit » 15 Jan 2020 20:34

Interestingly Mahathir has gone on record saying he wont speak against China and also its hegemonistic behaviour in South China sea.

https://www.bangkokpost.com/world/1760514/mahathir-no-point-confronting-china

Malaysia does not want to take a confrontational stance toward China over the disputed South China Sea or alleged mistreatment of minority Uighur Muslims, Prime Minister Mahathir Mohamad said in an interview published on Saturday.

Malaysia is too small to face up to the Asian powerhouse, even though Chinese ships surveying its waters for oil and gas in South China Sea do so without permission, he told an online news service during his visit to New York where he addressed the UN General Assembly.

“We watch what they are doing, we report what they are doing, but we do not chase them away or try to be aggressive,” Mahathir told BenarNews, an online news service affiliated with Radio Free Asia that reports in five languages.

“The Malay states have existed near China for the past 2,000 years. We have survived because we know how to conduct ourselves. We don’t go around trying to be aggressive when we don’t have the capacity, so we use other means.”

He said that in the past Malaysia used to send to China “gold and silver flowers every year as a symbol of our being practically, well, subservient to them”.

Mahathir also said China’s might was the reason Muslim-majority Malaysia did not speak out much against Beijing’s alleged repression of Uighur Muslims.

“You don’t just try and do something which would fail anyway, so it is better to find some other less violent ways not to antagonise China too much, because China is beneficial for us,” he said.


So the bugger seems to think he can talk and do whatever he wants against India.


Might rules and is respected.


Interestingly Mahathirs great grandparents come from South India and has some connections even now in Kerala and TN

mappunni
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Re: India and ASEAN / East Asia

Postby mappunni » 16 Jan 2020 11:05

kit wrote:Interestingly Mahathirs great grandparents come from South India and has some connections even now in Kerala and TN


Actually, his Grandfather was from Kerala (Mopilah) who went to Malaysia and married a Malay and became one. The Tamil Muslims, when go to Malaysia adopt the Malaysian language and customs. They are called Mamak by the locals.

Remember my father telling about Malaysia in the 70s and even 80s where few and far women wore the hijab. Now due to the Islamist pandering by Mahathir to gain the Malay votes is slowly but surely turning Malaysia into an Islamist hellhole.

The Malays govern on the basis of Ketuanan Melayu or Malay supremacy. Look at where Malaysia is, compared to Singapore.

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Re: India and ASEAN / East Asia

Postby Rony » 20 Jan 2020 18:46

‘We’re too small to take action’: Malaysian PM Mahathir after India’s palm oil boycott

https://www.hindustantimes.com/india-ne ... sZwNJ.html

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Re: India and ASEAN / East Asia

Postby ramana » 21 Jan 2020 23:06

Rony wrote:‘We’re too small to take action’: Malaysian PM Mahathir after India’s palm oil boycott

https://www.hindustantimes.com/india-ne ... sZwNJ.html



This is just the beginning.

g.sarkar
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Re: India and ASEAN / East Asia

Postby g.sarkar » 14 Feb 2020 23:26

https://www.dawn.com/news/1534442/india ... -oil-trade
India's curbs on Malaysian palm imports stir up edible oil trade
Reuters | Dawn, February 14.

India's halt on Malaysian palm oil imports has disrupted global edible oil trade flows, with Indonesia diverting supplies to feed India, Malaysia rushing to tap markets left behind by Jakarta, and India substituting palm with other oils.
India, the top global palm oil buyer, imposed restrictions on imports of refined palm oil last month, a move sources said was retaliation against Malaysia's criticism of New Delhi's actions in occupied Kashmir and a controversial citizenship law. Traders had also held off buying crude palm oil from Malaysia.
Malaysia's latest palm export data revealed the impact of India's restrictions, with shipments to India in January falling 85 per cent from a year earlier to 46,876 tonnes, the lowest since 2011.
India accounted for nearly a quarter of Malaysia's total palm oil exports last year and has been the biggest buyer of Malaysian palm oil for five years.
To compensate, Malaysia dialled up shipments to other destinations, with exports to Pakistan, Saudi Arabia and Ghana — markets that have traditionally bought heavily from Indonesia — all increasing in January by more than 100pc from the same month in 2019.
"A rebalancing is happening in the palm oil market," said a Mumbai-based dealer with a global trading firm.
"European and price-sensitive Asian buyers are switching to Malaysia from Indonesia due to lower prices."
Indonesian prices have climbed to a rare premium to Malaysian levels this year, on expectations of higher Indian purchases.
.....
Gautam


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