Indomie maker kicks after Malaysia, Taiwan reportedly detect cancer-causing substance in products – Newstrends
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Indomie maker kicks after Malaysia, Taiwan reportedly detect cancer-causing substance in products

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Indomie maker kicks after Malaysia, Taiwan reportedly detect cancer-causing substance in products 

 

Indofood, makers of Indomie instant noodles, has reacted to a recall of its products in Taiwan and Malaysia over an increased cancer risk.

Indomie noodles maker, Indofood, has challenged health officials in Malaysia and Taiwan over their reported detection of ethylene oxide in its “special chicken” flavour noodles capable of causing cancer.

The Malaysian health ministry said it had examined 36 samples of instant noodles from different brands since 2022 and found that 11 samples contained ethylene oxide.

The ministry said it had taken enforcement actions and recalled the affected products.

This came hours after the department of health in Taipei, Taiwan’s capital, said it had also detected ethylene oxide in two types of instant noodles, including the Indomie chicken flavour.

Ethylene oxide is a colourless/odourless gas that is used to sterilise medical devices and spices and has been associated as a cancer causing chemical.

Reacting to the allegations in a statement, Taufik Wiraatmadja, a member of the board of directors at Indofoods, affirmed the safety of the noodles.

He said the noodles had received standard certifications and were produced in compliance with international food safety regulations.

The statement released on Friday said in part, “Following the media reports in Taiwan on 24 April 2023 regarding the detection of ethylene oxide (“EtO”) in the Ah Lai White Curry Noodles from Malaysia and seasoning of Indomie Special Chicken Flavour, PT Indofood CBP Sukses Makmur Tbk (“ICBP” or the “Company”) as a subsdiary of PT Indofood Sukses Makmur Tbk wishes to provide explanation regarding Indomie, as follows,” the statement reads.

“All instant noodles produced by ICBP in Indonesia are processed in compliance with the food safety standards from the Codex Standard for Instant Noodles and standards set by the Indonesian National Agency for Drug and Food Control (“BPOM RI”). Our instant noodles have received Indonesian National Standard Certification (SNI), and are produced in certified production facilities based on international standards.

“ICBP has exported instant noodles to various countries around the world for more than 30 years. The Company continuously ensures that all of its products are in compliance with the applicable food safety regulations and guidelines in Indonesia as well as other countries where ICBP’s instant noodles are marketed.

“We would like to emphasize that in accordance with the statement released by BPOM RI, our Indomie instant noodles are safe for consumption.”

 

Indomie maker kicks after Malaysia, Taiwan reportedly detect cancer-causing substance in products

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CBN raises commercial banks’ capital base to N500bn

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CBN raises commercial banks’ capital base to N500bn

The Central Bank of Nigeria (CBN) has increased the minimum capital requirements for commercial, merchant and non-interest banks.

The CBN increased the capital base for commercial banks with international licences to N500 billion, while national and regional financial institutions’ capital bases were fixed at N200 billion and N50 billion, respectively.

This was announced in a statement on Thursday, noting that the increase was due to prevailing macroeconomic challenges and headwinds.

The statement signed by Haruna Mustafa, director, financial policy and regulation department at the CBN.

It said the upward review would enhance the banks’ resilience, solvency and capacity to continue to support the growth of the Nigerian economy.

Also, the CBN raised the merchant bank minimum capital requirement to N50 billion for national licence holders.

The financial regulator said the capital base for national and regional non-interest banks is N20 billion and N10 billion, respectively.

To meet the minimum capital requirements, the CBN advised banks to consider the injection of “fresh equity capital through private placements, rights issue and/or offer for subscription”.

The CBN also suggested merger and acquisition (M&A), as well as upgrade or downgrade of licences.

“The minimum capital specified above shall comprise paid-up capital and share premium only. For the avoidance of doubt, the new capital requirement shall not be based on shareholders’ funds,” it stated

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Tinubu orders creation of single-digit tax system

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Tinubu orders creation of single-digit tax system

President Bola Tinubu has directed a creation of a single-digit tax system with a maximum of nine taxes for a company or an individual.

Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, disclosed this in Abuja while speaking with the management team of Guinness Nigeria who paid him a visit.

A statement on Wednesday by Dare Adekanmbi, Special Adviser on Media to the FIRS chairman, quoted Adedeji as saying, “The President gave a directive that he wants a single-digit tax in the country, meaning that the maximum number of taxes we will have after the work of the Presidential Committee on Fiscal Policy and Tax Reforms will be nine taxes.”

The statement added that the plan was aimed at having a conducive environment “created for businesses to flourish and grow the economy.”

 

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Naira gains further against dollar

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Naira gains further against dollar

The Naira rose further in the official market on Tuesday, trading at N1,382.95 to the dollar.

According to data from the FMDQ’s official trading portal, the Naira rose by N25.09, or 1.78 percent, from the previous day’s rate of N1,408 versus the dollar.

On Tuesday, total turnover was $245.58 million, up from $222.15 million on Monday.

Meanwhile, at the Investor’s and Exporters (I&E) window, the Naira traded between N1,486 and N1,300 against the dollar.

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The News Agency of Nigeria (NAN) reports that the Central Bank of Nigeria (CBN) had, earlier on Tuesday at its 294th Monetary Policy Committee (MPC), raised Monetary Policy Rate (MPR) by 200 basis points from 22.75 per cent to 24.75 per cent.

CBN governor Yemi Cardoso said that was meant to tackle the nation’s rising inflation.

Naira gains further against dollar

(NAN)

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