Brainstorming Session On Proposal to Improve Price Discovery Mechanism for Latex in Bulk Organised By Malaysian Rubber Exchange (MRE)

The Malaysian Rubber Exchange (MRE) had organised a Brainstorming Session on proposal to improve price discovery mechanism for latex in bulk on 17 May 2017. The brainstorming session was attended by the members of the Price Advisory Panel (PAP) and Price Review Committee (PRC). The main objective of the brainstorming session is to review the existing price discovery mechanism in ensuring that MRB official prices for latex in bulk are credible, transparent and reflective to the physical traded prices.

The session was chaired by Dr. Hj Suarni Sumormo, Deputy Director-General (Policy and Operations) MRB cum Deputy Chairman of MRE. Prior to the brainstorming session between members of PAP and PRC, a presentation on the ‘Current MRB Price Discovery Mechanism for Latex in Bulk’ was presented by Encik Hairul Irwan Jamaluddin, Head of Malaysian Rubber Exchange (MRE). The presentation, among others, touched on main issues affecting on MRB latex in bulk prices, the analysis and simulation study for the proposal of new MRB price discovery mechanism as well as the recommendation to improve the current mechanism for latex in bulk.

In the afternoon, MRE also organised the 39th Meeting of the Price Review Committee (PRC) to review the proposal from the Brainstorming Session before it can be tabled in the next MRE Management Committee in June 2017 for consideration and approval.

The brainstorming session was attended by the members of the Price Advisory Panel (PAP) and Price Review Committee (PRC).

Dr. Hj Suarni Sumormo, Deputy Director-General (Policy & Operations) MRB cum Deputy Chairman of MRE delivering his opening remarks.