Quantum Metal accomplished the landmark through the collaboration with Malaysian banks, financial institutions, co-operatives, government bodies and members of registered associations. The company also initiated the link-up between local banks and international bullion suppliers like Perth Mint, Australia.

The firm has also been offering risk-reducing business models to local banks so the latter can have direct and legal transactions through Malaysian companies. After entering into business relationships with Quantum Metal, these local banks don’t need to bear the capital expenditure responsibilities as the Malaysian firm fully invests in the project infrastructures.

Quantum Metal has developed and transformed, apart from creating holistic supply chains through its strong business network and partnership with industry experts and stakeholders. Quantum Metal has its own holding/parent company registered in the USA, apart from having business partnerships in Thailand, Singapore, Indonesia, Australia and Africa.

The secret behind Quantum Metal’s meteoric rise is their team of motivated and determined leaders, led by the company’s founder YBhg Dato’ Lim Khong Soon. Dato, an experienced businessman, has been involved in areas like precision mould, gold potassium cyanide for gold plating industries and electronic components.

In his illustrious career spanning over 20 years, Dato led the co-development of the method of recovering gold from electronic waste with Inochem of South Africa. He also has vast experience in the refining of impure gold from scrap/old jewellery, along with supplying gold to jewellery fabricators.

Holding a licence in Australia to operate Australia Bullion Bank and dealing with Australian Bullion Bankers makes Quantum Metal well-known around the Asia Pacific.

Along with Dato Lim, Quantum Metal has competent and resourceful directors and management team, in supporting the group driving from the domestic to international level, notably under the leadership of Ms Aida Lim binti Abdullah, Mr Haji Kamari Zaman bin Juhari and Mr Lim Chee Ann.

Ms Aida Lim Abdullah handles Quantum Metal’s Corporate Strategy and Development, overseeing the corporate planning, strategies, and economic activities globally, with the goal to establish a good governance framework and building a strong business ecosystem. Ms Aida Lim is an ex-regulator, and a qualified Chartered Accountant, who holds a BA (Hons) degree in Accounting and Finance. She possesses over 30 years of regulatory, banking, audit, fintech and business leadership experience. With proven track records in developing many successful businesses from start-ups to those listed on the Exchange, she has won many awards from State Government, International Professional bodies for driving Shariah & Halal Businesses, Governance and Fintech. Ms Aida Lim is also the Deputy Chairman of Quantum Bullion Exchange Board (QBEB) which is registered with the Registrar of Society in overseeing the good business practices of members of QBEB.

Mr Haji Kamari bin Juhari has over 40 years of experience in the financial industry. He started his journey in 1982 by joining the Bank Negara Malaysia as a Director of Development Financial and Enterprise Department. Being an ex-regulator, he is a veteran of Banking & Financial Industry Law and Regulation. He also ensures that Quantum Metal is on the right track in driving its journey in bullion businesses. Mr Haji Kamari bin Juhari is currently Quantum Metal’s Independent Non-Executive Chairman with the responsibility to provide guidance for Quantum Metal to ensure there are good business practices and compliance with regulations. He is also the Honourable Board Member of QBEB.

The sound and effective digital platform of Quantum Metal is championed by the Head of Technology Team, Mr Lim Chee Ann (CA Lim). He has more than 15 years of experience in developing the digital platform and is responsible for the good system that helps to facilitate stakeholders of Quantum Metal. The platform developed by the team led by CA Lim has proven to have value add, effective and efficient being deployed to banks, financial institutions, and stakeholders’ systems globally.

Quantum Metal’s leadership team also consists of a few Independent Shariah Advisors, approved by the Securities Commission of Malaysia. The company’s in-house Shariah Council Committee Board is led by another veteran, the Chairman of Quantum Metal Shariah Council, Tan Sri Sheikh Ghazali bin Haji Abdul Rahman. The Internal Shariah team led by Tan Sri Sheikh Ghazali are officials who have experience serving the country’s Shariah Court as judges, apart from advising market regulators on Shariah matters.

Quantum Metal was awarded at the ‘Asia Pacific Enterprise 2022 Malaysia’ under ‘Corporate Excellence Category in the Financial Services Industry’. Enterprise Asia, the organiser of this event, recognised Quantum Metal as one of 47 businesses that played a vital role in shaping Malaysia’s entrepreneurial landscape in the post-COVID era.

The company also won other laurels like the ‘Digital and Technology Business Excellence Award’ at ‘Sin Chew Business Excellence Awards 2020’. Former Deputy Minister of International Trade and Industry (MITI), Datuk Lim Ban Hong graced the event both as a special guest and an awardee.

Quantum Metal’s principle is ‘at Quantum Metal, we care and we share’, a tagline which makes the company more aware of its social responsibilities and giving back to the people whenever and wherever it can. As part of their continuous CSR Program, Quantum Metal contributed 10 new wheelchairs to the community and Continuance Life Associates for Hospital Lam Wah Ee, in Malaysia’s Penang.

These awards are a testament to the hard work and determination put forth by Quantum Metal as a business group, along with its value of serving Malaysian society through its corporate social responsibility initiatives.

The post Meteoric rise of Quantum Metal: The success story appeared first on International Finance.

Zoom out, and it’s obvious: A global food crisis is developing, and prices are skyrocketing everywhere. And when that occurs, everyone is hurt. When the price of tickets or petrol rises, people can cut back on going to the movies or driving, but everyone needs to eat.

The long-brewing crisis finally brought to a climax by Russia’s invasion of Ukraine is already having a significant impact. Protests against a rise in the price of food and petrol in Peru turned violent in April. In July, protests against a lack of food, gasoline, and medical supplies broke out in the streets, Sri Lanka’s government fell, and its people overthrew its president.

Experts warn that the problem might have severe global repercussions without immediate action. Changes in the food supply in some nations may cause the traditional recipes and practices to shift. The spread of civil unrest might lead to instability and perhaps wars in some of the most impoverished parts of the planet. A failure in the food systems could trigger massive waves of migration.

Pricing crisis causing food problem

Following the Russian invasion of Ukraine in late February, food prices worldwide have risen sharply. For example, US consumer prices increased 10% year over year as of May, the most since 1981, and by a record 8.9% in the Eurozone. Unfortunately, globally, the situation is considerably worse: as of June, the UN’s world food price index had increased by 23% compared to 2021. Simply put, many people are having trouble paying for food.

Chris Barrett, an economist and authority on food policy at Cornell University, told Insider that “a food crisis is a price problem.” Even if people are not immediately aware of it, he claimed that it has broad consequences and affects everyone’s life.

“You should pay attention to the food problem, because it is lurking in the background, driving those things,” Barrett said. “If you worry about domestic politics, if you worry about environmental issues, if you worry about immigration matters, if you worry about diplomacy in the military.”

Global groups are issuing increasingly urgent and louder warnings. According to the UN World Food Programme, fifty million people worldwide are in danger of going hungry and facing famine, which the WFP head has dubbed a “looming hunger disaster.”

Collection of problems bunched together

The invasion of Ukraine by Russian President Vladimir Putin broke the world’s food supply chain. According to the WFP, Russia, and Ukraine supplied 70% of the world’s sunflowers, 20% of maize, and 30% of the wheat marketed globally before the war.

Not only have farms been destroyed by the battle. Putin’s forces have blocked the Black Sea coast of Ukraine, preventing the export of crucial agricultural goods. In addition, oil prices have increased by more than 40% in 2022 due to the conflict and the ensuing Western sanctions against Russia, which have driven up energy costs and, in turn, the price of fertilizer.

“This issue could easily extend into next year,” said Wayne Gordon, a senior commodities strategist at UBS, “because if you’re a Ukrainian producer and your domestic price is, say, half of what it is on a global basis, your incentive or your ability to plant the next crop has been curtailed significantly due to poor margins, as you are still paying high prices for inputs.”

Although the Ukrainian conflict was the initial cause of the crisis, other reasons have been building for a while. The pressure on the world food system has increased recently because of factors including climate change, the COVID-19 epidemic, and the increase in international conflicts.

The climate issue is to blame for the warning indicators that existed long before the Russian invasion. For instance, a severe drought in the Black Sea region in 2011 led to a rise in the cost of food, especially wheat. Many observers cited it as a factor in the upheaval that led to the Arab Spring. There are “clear parallels” between the current drought and the one that occurred in 2011, according to Samuel Tilleray, a sovereign credit analyst at S&P Global Ratings.

According to a UN report from last year, up to 30% of current farmland may no longer be suitable for growing crops by the end of the century due to greenhouse gas emissions’ impact on weather patterns.

The entire world is already aware of it. For example, severe drought has reduced wheat production in important states like Kansas, and drought in South America, which reduced soybean production, has caused cooking oil prices to soar globally.

The pandemic also didn’t make things much better. Governments all over the world, according to Cornell’s Barrett, are “trying to revive economies struggling under the weight of the pandemic.” Still, supply-chain disruptions are rife, and prices for oil and ocean freight are skyrocketing. He claimed that as a result, prices were continuing to rise because supply was not keeping up with demand.

In response to the world food crisis, Annabel Symington, a spokesperson for the World Food Programme, said, “Things were already really strained, and now we are facing even greater strain.” It’s a collection of problems coming together.

Situation affects you

A vital component of any community’s culture is its food. Civil unrest may emerge if that component becomes insufficient or disappears entirely. The international price of wheat, milk, and meat increased in 2008, forcing significant producers to impose an export ban to ensure that domestic populations would continue to have access to food.

Ten people died in Morocco in 2008 protesting food shortages, which sparked a wave of strikes and rallies. The same year, 10,000 laborers in Bangladesh rioted against rising food prices by damaging factories and smashing cars. According to experts, it seems unlikely that this time will be any different.

According to Barrett, “Periods of high food prices are related and directly associated with an increased frequency of violence, political disturbance, and social discontent.”

“Additionally, they have a causal connection to higher levels of forced migration. People leave their homes in quest of food when they are unable to feed their families there. Additionally, some of those migrations are very dangerous.”

However, governments may use short-term and long-term solutions to ensure that people have food. According to Symington of the World Food Programme, governments should make every effort to reduce the growing risk of famine in the world’s most vulnerable areas. According to Barrett, there should always be automatic safety-net mechanisms in place to guarantee financial resources are available if somebody experiences food insecurity.

Longer term, Symington argued, government leaders and international organizations should promote a transition toward increased local food production, reducing reliance on global supply networks. To stop “crazy price gyrations,” Barrett urged the World Trade Organization to stabilize export prices.

However, no matter what steps the government takes, life will become more expensive for all of us and much harder for billions of people. Even if you have enough food for yourself, your family, and your neighbors, Barrett added, “you are still affected by this.”

Already lagging behind

The World Bank has cautioned that the crisis in Ukraine will cause 50 million people to experience severe hunger and an extra 95 million to live in extreme poverty in 2022.

“Since we already didn’t fulfill our food security goals by 2020, let’s be honest. The situation is now difficult, though,” Mr. Shahid remarked.

“The shocks of numerous global crises have undermined our economies and institutions and hampered our capacity to respond in a timely manner.”

He emphasized that despite this dire situation, nations must not give up. Instead, they must band together to address the causes of hunger and malnutrition and the symptoms of both.

The necessity to prioritize food security in the least developed countries, landlocked developing countries, and small island developing states was also emphasized by Mr. Shahid. These nations’ citizens “are typically forced to spend a larger share of their income on basic necessities, including food, and are thus disproportionately affected by rising food prices,” he said.

Relationships, not seclusion

Following the suggestions made at the UN Food Systems Summit  in 2021, these nations also require assistance in sustainably transforming their food systems.

According to Mr. Shahid, as nations adopt more environmentally friendly and sustainable food practices, they must also consider food security as a component of a larger multilateral agenda that acknowledges both the interrelatedness of today’s challenges and the futility of trying to solve them individually or exclusively.

Food systems must be able to offer accessible, inclusive, and healthy diets at reasonable prices. Additionally, they must become a potent force for eradicating hunger, food insecurity, and malnutrition.

Scaling up climate resilience throughout food systems, bolstering food environments, and altering consumer behavior to support eating patterns that have favorable effects on both human health and the environment are among the steps we must take right away, he said.

“Securing sustainable agriculture, repairing our relationship with nature, and strengthening the international institutions working to alleviate poverty and hunger are also necessary for addressing food security,” the UN said.

An important moment

Along with the Committee on World Food Security and the Global Crisis Response Group on Food, Energy, and Finance of the UN Secretary-General, Mr. Shahid organized the high-level special event.

António Guterres, the head of the UN, thanked the partners for cooperating during “this important moment” in a video message to the gathering, stressing that the number of people experiencing acute food insecurity has doubled in the last two years.

The possibility of numerous famines is dire. The year 2023 maybe even worse. But if we take action right once, we can avert this tragedy, said Mr. Guterres.

The Secretary-General emphasized the importance of maintaining open international trade and swiftly reintegrating agricultural output from Russia, Ukraine, and other countries into global markets.

Additionally, he urged rapid resource unlocking to improve social protection and aid smallholder farmers in becoming more productive and self-sufficient. He also advocated for addressing the financial crisis in developing countries.

Countries must overhaul their food systems to make affordable, healthy, and sustainable diets accessible to everyone, everywhere.

The post Collapsing economies to spark global food crisis appeared first on International Finance.

The long-brewing crisis was finally brought to a climax by Russia’s invasion of Ukraine. Protests against a rise in the price of food and petrol in Peru turned violent in April. In July, Sri Lanka too saw such protests and the government fell. Experts warn that the problem might have severe global repercussions if there is no immediate action. Changes in the food supply in some nations may cause a shift in traditional recipes and nutritional practices. Civil unrest may lead to instability in some of the most impoverished parts of the planet. A failure in the food systems could trigger massive waves of migration.

Pricing crisis causing food problem

Following the Russian invasion of Ukraine in late February, food prices worldwide have risen sharply. For example, US consumer prices increased 10% year over year as of May, the most since 1981, and by a record 8.9% in the Eurozone. The situation is getting worse. As of June, the UN’s world food price index had increased by 23% compared to 2021. Simply put, many people are having trouble paying for food. Chris Barrett, an economist and authority on food policy at Cornell University, told Insider that “a food crisis is a price problem.” Even if people are not immediately aware of it, he claimed that it has broad consequences and affects everyone’s life.

“You should pay attention to the food problem, because it is lurking in the background, driving those things,” Chris Barrett remarked further.

Global groups are issuing increasingly urgent and louder warnings. According to the UN World Food Programme, fifty million people worldwide are in danger of going hungry and facing famine, which the WFP head has dubbed a “looming hunger disaster.”

Collection of problems bunched together

The Ukraine war has broken the world’s food supply chain and there is no denial about that. According to the WFP, Russia, and Ukraine supplied 70% of the world’s sunflowers, 20% of maize, and 30% of the wheat marketed globally before the conflict. Not only have farms been destroyed by the battle, but Vladimir Putin’s forces have also blockaded the Black Sea coast of Ukraine, preventing the export of crucial agricultural goods. In addition, oil prices have increased by more than 40% in 2022 due to the conflict and the ensuing Western sanctions against Russia, which have driven up energy costs and, in turn, the price of fertilizer.

“This issue could easily extend into next year, because if you’re a Ukrainian producer and your domestic price is, say, half of what it is on a global basis, your incentive or your ability to plant the next crop has been curtailed significantly due to poor margins, as you are still paying high prices for inputs,” said Wayne Gordon, a senior commodities strategist at UBS.

Although the Ukrainian conflict was the initial cause of the crisis, other reasons have been building for a while. The pressure on the world food system has increased recently because of factors including climate change, the COVID-19 outbreak, and the increase in international conflicts. The climate issue is to blame for the warning indicators that existed long before the Russian invasion. For instance, a severe drought in the Black Sea region in 2011 led to a rise in the cost of food, especially wheat. Many observers cited it as a factor in the upheaval that led to the Arab Spring. There are “clear parallels” between the current drought and the one that occurred in 2011, according to Samuel Tilleray, a sovereign credit analyst at S&P Global Ratings.

According to a UN report from 2021, up to 30% of current farmland may no longer be suitable for growing crops by the end of the century due to the impact of greenhouse gas emissions on weather patterns. The entire world is already aware of it. For example, severe drought has reduced wheat production in important states like Kansas, and drought in South America, which reduced soybean production, has caused cooking oil prices to soar globally.

The pandemic also didn’t make things much better. Governments all over the world are “trying to revive economies struggling under the weight of the pandemic,” according to Cornell’s Chris Barrett.

Still, supply-chain disruptions are rife, and prices for oil and ocean freight are skyrocketing. He claimed that as a result, prices were continuing to rise because supply was not keeping up with demand. In response to the world food crisis, Annabel Symington, a spokesperson for the World Food Programme, said, “Things were already really strained, and now we are facing even greater strain.” It’s a collection of problems coming together.

Situation affects you

A vital component of any community’s culture is its food. Civil unrest may emerge if that component becomes insufficient or disappears entirely. The international price of wheat, milk, and meat increased in 2008, forcing significant producers to impose an export ban to ensure that domestic populations would continue to have access to food. Ten people died in Morocco in 2008 protesting food shortages, which sparked a wave of strikes and rallies. The same year, 10,000 labourers in Bangladesh rioted against rising food prices by damaging factories and smashing cars. According to experts, it seems unlikely that this time will be any different.

According to Chris Barrett, “Periods of high food prices are related and directly associated with an increased frequency of violence, political disturbance, and social discontent. Additionally, they have a causal connection to higher levels of forced migration. People leave their homes in quest of food when they are unable to feed their families there. Additionally, some of those migrations are very dangerous.”

However, governments may use short-term and long-term solutions to ensure that people have food. According to Symington of the World Food Programme, governments should make every effort to reduce the growing risk of famine in the world’s most vulnerable areas. According to Barrett, there should always be automatic safety-net mechanisms in place to guarantee financial resources are available if somebody experiences food insecurity.

Longer term, Symington argued, government leaders and international organizations should promote a transition toward increased local food production, reducing reliance on global supply networks. To stop “crazy price gyrations,” Chris Barrett urged the World Trade Organization to stabilize export prices. However, no matter what steps the government takes, life will become more expensive for all of us and much harder for billions of people. Even if you have enough food for yourself, your family, and your neighbours, Chris Barrett added, “you are still affected by this.”

Already lagging behind

The World Bank has cautioned that the crisis in Ukraine will cause 50 million people to experience severe hunger and an extra 95 million to live in extreme poverty by 2022 end.

“Since we already didn’t fulfil our food security goals by 2020, let’s be honest. The situation is now difficult, though. The shocks of numerous global crises have undermined our economies and institutions and hampered our capacity to respond in a timely manner,” UNGA President Abdulla Shahid remarked.

He emphasized that despite this dire situation, nations must not give up. Instead, they must band together to address the causes of hunger and malnutrition and the symptoms of both. The necessity to prioritize food security in the least developed countries, like the landlocked developing ones and small island states, was also emphasized by Abdulla Shahid.

“These nations’ citizens are typically forced to spend a larger share of their income on basic necessities, including food, and are thus disproportionately affected by rising food prices,” he said.

Relationships, not seclusion

Following the suggestions made at the 2021 UN Food Systems Summit, these nations also require assistance in sustainably transforming their food systems. According to Abdulla Shahid, as nations adopt more environmentally friendly and sustainable food practices, they must also consider food security as a component of a larger multilateral agenda that acknowledges both the interrelatedness of today’s challenges and the futility of trying to solve them individually or exclusively. Food systems must be able to offer accessible, inclusive, and healthy diets at reasonable prices.

Additionally, they must become a potent force for eradicating hunger, food insecurity, and malnutrition. Scaling up climate resilience throughout food systems, bolstering food environments, and altering consumer behaviour to support eating patterns that have favourable effects on both human health and the environment are among the steps we must take right away, he said.

“Securing sustainable agriculture, repairing our relationship with nature, and strengthening the international institutions working to alleviate poverty and hunger are also necessary for addressing food security,” the UN said.

An important moment

Along with the Committee on World Food Security and the Global Crisis Response Group on Food, Energy, and Finance of the UN Secretary-General, Abdulla Shahid organized the high-level special event. António Guterres, the head of the UN, thanked the partners for cooperating during “this important moment” during the gathering, while stressing that the number of people experiencing acute food insecurity has doubled since 2020. The possibility of numerous famines in 2022 is dire.

“The following year maybe even worse. But if we take action right once, we can avert this tragedy,” António Guterres remarked.

The Secretary-General also emphasized the importance of maintaining open international trade and swiftly reintegrating agricultural output from Russia, Ukraine, and other countries into global markets. Additionally, he urged rapid resource unlocking to improve social protection and aid smallholder farmers in becoming more productive and self-sufficient. He also advocated for addressing the financial crisis in developing countries. Countries must overhaul their food systems to make affordable, healthy, and sustainable diets accessible to everyone, everywhere.

The post Global food crisis: Economic hardships ahead? appeared first on International Finance.