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How is Malaysia confronting its present economic..
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teeth53
Supreme |
14-Mar-2015 08:38
Yells: "don't learn through life, learn to grow with life " |
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News -- Corrupt customs officials rumbled at Port Klang Free Zone
Kuala Lumpur: A giant corruption scandal involving some 24 people including 12 civil servants at Port Klang Free Zone (PKFZ) has been rumbled. The syndicate has cost the government up to RM4bn in lost revenue, local media reported. "RM1.67 billion worth of cigarettes and alcohol were brought into the country under their watch since 2011... but from that amount, only a total value of RM420 million was declared,'' said Datuk Seri Mohd Shukri Abdull, deputy chief commissioner (Operations) of the Malaysian Anti-Corruption Commission (MACC). "Investigations had shown that the goods were brought in from Scotland, Sweden, Indonesia, Thailand, China, India and Cambodia." The commission is looking at making more arrests soon.
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teeth53
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14-Mar-2015 08:35
Yells: "don't learn through life, learn to grow with life " |
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What happen to Klang port corrupt case...?.
Mahathir was the Premier of M'sia
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teeth53
Supreme |
07-Mar-2015 00:34
Yells: "don't learn through life, learn to grow with life " |
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http://www.thestar.com.my/News/Nation/2015/03/06/Cops-500-FB-accounts-used-to-entice-Malaysians-to-join-IS/ KUALA LUMPUR: Bukit Aman has identified more than 500 Facebook accounts which are being used to recruit or entice Malaysians to join the Islamic State (IS) in Iraq and Syria. Federal Special Branch Counter Terrorism Division principal assistant director Senior Asst Comm Datuk Ayob Khan said that the profiles, which were still active at press time, belonged to Malaysians. He said the accounts bore a message that painted IS as &ldquo peaceful under the rule of caliphate Abu Bakar al-Baghdadi&rdquo and some had bought into the propaganda. &ldquo There is a Malaysian who warned his family that if they worked with the Government or stopped him from joining the IS, he would return and would, if he had the chance, kill them,&rdquo he revealed. Despite numerous crackdowns and exposé s by the authorities and media, there was still no sign that the number of recruitments were diminishing, added SAC Ayob. &ldquo In the first half of last year, we identified 30 Malaysians who went to Syria to join IS. &ldquo The number rose to 61, which included a 14-year-old boy who went with his parents, by the end of the year. &ldquo The tactic has changed, they are now recruiting the whole family. It is really worrying.&rdquo SAC Ayob disclosed that authorities had frozen the assets of 39 suspects and that of 18 groups linked to terrorism, including Jemaah Islamiah, under the Prevention of Money Laundering and Terrorist Financing Act. |
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teeth53
Supreme |
07-Mar-2015 00:27
Yells: "don't learn through life, learn to grow with life " |
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The Star reported today -- Retiree shocked to find out son is fighting with Isis.  View Photo A retired civil servant is in a state of shock upon learning that his " disciplined" son has been identified by police as one of two Malaysians spotted in a beheading video by Islamic State of Iraq and Syria (Isis) militants.
Anuar Salleh, 57, said he could not believe his quiet son, 20-year-old Mohd Faris Anuar, had joined Isis militants and was present when a Syrian man was beheaded. " I last saw Faris at the end of last year. He told me that he was going to look for a job and at the same time further his studies in religious teaching," he was quoted as saying. &ldquo I was not home on the day he left, and have not been able to contact Faris at all. He just disappeared." Despite positively identifying the mugshot given by the police as his son, Anuar is hoping that the counter terrorism unit had mistakenly identified his son. &ldquo I pray that the man is not Faris, and hopefully this is just a case of mistaken identity. Nowadays there are many things that can be altered and portrayed by the social media,&rdquo Anuar was reported as saying. The father of six said he was not aware that Faris had been fighting alongside Isis and only learnt of it after police named his son, who studied at SM Teknik Sungai Petani, and Muhamad Wanndy Mohamad Jedi, 26, as the two Malaysians in the video. Anuar said Faris, who is his third child, was a disciplined son who had no smartphone, laptop or driving licence. &ldquo Faris is a very quiet person and he does not have many friends. He will stay at home during his free time, and doesn&rsquo t go out for drinks with friends," he was quoted. In the 30-second video, Faris was identified as the one gesturing with his index finger towards the camera, while Wanndy was believed to be the one recording the video. The beheading video was uploaded to a Facebook account on February 20. It was reported that the recording showed a militant identified as an Arab carrying out the beheading of a Syrian accused of being a spy for the Assad regime. Special Branch Counter Terrorism Division principal assistant director Senior Asst Comm Datuk Ayub Khan reportedly said that from intelligence gathered, video was taken by Wanndy based on voice heard in the clip. He said the video also showed Wanndy, who is the owner of the Facebook account of Abu Hamzah Al Fateh. It was also reported that Wanndy is in Syria with his wife Nor Mahmudah, while Mohd Faris is believed to have gone to Syria in September last year. Wanndy and his wife went to Syria in January this year. Authorities in Malaysia have expressed increasing alarm as scores of the country&rsquo s citizens have either gone abroad to join the ISIS jihad or have been arrested for supporting the group or seeking to travel to Syria. In January, Home Minister Datuk Seri Ahmad Zahid Hamidi said 67 Malaysians were known to have gone to Syria and Iraq and five had been killed fighting for the cause. Malaysia was holding 120 people with suspected Isis links or sympathies, said Zahid, who is in charge of domestic security. &ndash March 5, 2015.
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teeth53
Supreme |
05-Mar-2015 23:20
Yells: "don't learn through life, learn to grow with life " |
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PETALING JAYA, March 5 &mdash The Goods and Services Tax (GST) is only expected to lead to an increase of between three and six per cent in maintenance fees for high-rise property owners, a housing industry expert said today. Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEP) advisor Wong Kok Soo said only half of the total monthly maintenance fees for flat, apartment and condominium unit owners are from service providers that may charge higher fees after adding on the consumption tax. |
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teeth53
Supreme |
04-Mar-2015 22:31
Yells: "don't learn through life, learn to grow with life " |
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https://sg.finance.yahoo.com/news/malaysia-airlines-ceo-battle-hardened-074840326.html Embattled Malaysia Airlines new CEO to lead its restructuring, a German turnaround specialist known as " The Terminator" to take on what' s been dubbed the toughest job in aviation. Christoph Mueller, 52, comes to the post fresh from a stint reviving Ireland' s Aer Lingus. The first foreigner to head the M' sian state-owned Co. Analysts say he' s an industry veteran " battle-hardened" from his work carrying out corporate restructurings at other state-owned airlines, including failed Belgian carrier Sabena. Mueller will face his biggest challenge yet at M' sia Airlines. The company was pushed to the brink of bankruptcy -- Khazanah, the sovereign investment fund. He started his job on Sunday. " The first year of a restructuring is really like a war situation," Mueller told his interviewer. Mueller was dubbed " The Terminator" in Ireland because his German accent made for easy comparisons to Arnold Schwarzenegger in assassin robot mode as he outlined his plans to remorselessly fix Aer Lingus. At his new job, Mueller will have work cut out for him. He has to trim a bloated workforce and money-losing routes while also fending off political interference at the state-owned company and battling cut-throat competition from budget carrier rivals. AirAsia. " I would say it probably is among the toughest" jobs in the industry, said John Strickland of JLS Consulting who believes Mueller' s status as an outsider will give him an edge in shaking up the company. |
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teeth53
Supreme |
13-Feb-2015 20:01
Yells: "don't learn through life, learn to grow with life " |
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Malaysian Insider understands from bankers familiar with the matter that the banks involved received the money yesterday evening, hours after Ananda was said to have agreed to the bailout.
The payment is a last-minute reprieve for 1MDB ? a cross between a sovereign fund and a private investment firm wholly owned by the Ministry of Finance. Its debt woes were seen as pressuring the ringgit and Malaysia's sovereign rating. Other sources confirmed the repayment of the RM2 billion for tranche 2 of the RM5.5 billion bridging loan to the relevant banks. The 1MDB subsidiary, Powertek Investment Holdings Sdn Bhd, took the loan last May to refinance a RM6.17 billion bridging loan taken in 2012 to part finance the purchase of power assets. 1MDB restructured the RM5.5 billion bridging loan into two tranches: a RM3.5 billion loan due by August 2024 and a RM2 billion loan due last November, according to data from LPC, a Thomson Reuters unit specialising in loans. The RM2 billion loan was guaranteed by Ananda's company Usaha Tegas, said people with knowledge of the talks between Ananda and 1MDB. Malaysia's Maybank has 58.99% of the RM2 billion loan while RHB has 32.41%. The other lenders are Alliance Investment Bank Bhd (4.06%), Malaysia Building Society Bhd (3.24%) and Hwang DBS Investment Bhd (1.29%). The development fund, which owns a large portfolio of power plants, has missed payments on the bridge loan that was due end-December and its lenders were keen to see it paid before they had to write it down in first-quarter earnings, bankers said. The Malaysian Insider had reported that the final deadline for the loan repayment was February 18. Ananda, who sold his collection of power plants to 1MDB, has been in talks with 1MDB to become a cornerstone investor in the long-delayed US$3 billion listing of its power assets. 1MDB, whose advisory board is chaired by Prime Minister and Finance Minister Datuk Seri Najib Razak, has some RM42 billion in total debt. It has been heavily criticised for taking on the debt and the difficulty in repaying its loans. Among its harshest critics are former prime minister Tun Dr Mahathir Mohamad and former finance minister Tun Daim Zainuddin, apart from opposition lawmakers who say its debts are a risk to the country's financial system. |
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teeth53
Supreme |
12-Feb-2015 23:20
Yells: "don't learn through life, learn to grow with life " |
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 Son not ready4premiership?. How he wish to be coming Prime Ministry Senior?
https://sg.news.yahoo.com/dr-m-says-leaders-step-down-not-performing-054200173.html 1 Malaysia People' s Aid (BR1M) direct cash handouts, Dr M has said was a &ldquo waste of money&rdquo . He said the idea was apparently aimed at winning support for the ruling Barisan Nasional coalition, but said the programme was unlikely to give the govt the desired effect. Dr Mahathir previously also labelled BR1M as &ldquo a form of bribery&rdquo . teeth53 thot - Dr M getting old n in-patience, time is running out for him to be the next Prime Ministry Senior?.
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GorgeousOng
Supreme |
10-Feb-2015 18:54
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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Palm Oil Shipments From Malaysia Tumble Most in Seven YearsBy Ranjeetha Pakiam - 10 Feb 2015 4:29:54 pm (Bloomberg) -- Palm oil exports from Malaysia, the world&rsquo s biggest producer after Indonesia, slumped the most in seven years in January as a plunge in energy prices and record global oilseed supply cut demand. Sales decreased 22 percent to 1.18 million metric tons from a month earlier, the Malaysia Palm Oil Board said in Kuala Lumpur on Tuesday. That&rsquo s the biggest drop since January 2008 and the least shipped since February 2011, MPOB data show. The median estimate in a Bloomberg survey published Feb. 6 was for a 15 percent decline to 1.29 million tons. Imports fell 0.5 percent to 89,908 tons, according to board data. Palm oil, used in food and fuel, lost 12 percent in the past year as a plunge in petroleum costs reduced its allure as a biodiesel feedstock and global soybean crops headed for an all-time high. Soybean oil fell to a six-year low last month, increasing its attraction as an alternative. Demand may shift to soybean oil, DBS Bank Ltd. wrote in a report dated Jan. 27. &ldquo Exports disappointed significantly on the downside and that says to me that on the demand side people are struggling with paying palm oil prices at these levels,&rdquo Wayne Gordon, a Singapore-based commodities analyst at UBS Group AG, said by phone Feb. 10. &ldquo There&rsquo s a bit of an arm wrestle with soyoil. Palm oil price has to decline to buy demand.&rdquo Futures fell 0.7 percent to close at 2,300 ringgit ($642) a ton on Bursa Malaysia Derivatives in Kuala Lumpur. Soybean oil fell to 29.32 cents a pound on Jan. 29, the lowest since December 2008 and has narrowed it&rsquo s premium over palm to about $56 a ton from an average of $155 in the past five years. Export SlumpData from surveyor Intertek show exports may decline further this month. Shipments dropped 16 percent to 298,910 tons in the first 10 days of February from the same period a month earlier, the company said Feb. 10. Rising U.S. crude oil supplies contributed to a global glut that drove prices almost 50 percent lower last year. That&rsquo s removed the biodiesel portion of demand for palm oil, said Gnanasekar Thiagarajan, head of trading at Kaleesuwari Intercontinental Singapore Pte. Production tumbled 15 percent to 1.16 million tons, the lowest level since February 2011, and reserves fell 12 percent to 1.77 million tons, palm oil board data show. That compares with estimates of 1.2 million tons for production and 1.75 million tons for stockpiles in the Bloomberg survey. Output contracted for the fifth straight month as floods from late December through early January combined with the impact of dry weather in early 2014 to worsen the usual drop in production at this time of year, according to Michael Greenall, an analyst at BNP Paribas SA in Kuala Lumpur. Output is typically lowest in January and February each year. Monsoon FloodsThe year-end monsoon that hit the east coast of Peninsular Malaysia resulted in the worst floods since 1972, according to Maybank Investment Bank Bhd. While some damage from the floods may be seen for another two to three months, production will soon start its up cycle, said Gordon. Concerns over production are short-term as Indonesian output may accelerate, he said. Indonesia may produce 33 million tons in 2014-2015, according to a unit of the U.S. Department of Agriculture. Output in the previous season was 30.5 million tons, the Foreign Agricultural Service said in a report dated Jan. 28. &ldquo Stocks will start to build, particularly if we don&rsquo t see some recovery on the demand side,&rdquo said Gordon. &ldquo I&rsquo d be a seller of palm oil at these levels.&rdquo |
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GorgeousOng
Supreme |
10-Feb-2015 16:25
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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Ringgit Drops Most in Asia as Oil Declines After Three-Day GainBy Y-Sing Liau - 10 Feb 2015 12:33:08 pm (Bloomberg) -- Malaysia&rsquo s ringgit fell the most among Asian currencies as oil resumed a decline following a three-day gain. The ringgit is Southeast Asia&rsquo s worst-performing currency in the past six months as the drop in Brent crude cuts earnings for the region&rsquo s only major oil exporter. The currency briefly trimmed losses after a report showed Malaysia&rsquo s factory output beat economists&rsquo estimates in December. The nation&rsquo s Federal Court sentenced opposition leader Anwar Ibrahim to five years in jail Tuesday after convicting him on a sodomy charge. &ldquo Better-than-expected industrial production data staunched the bleeding in the ringgit,&rdquo said Vishnu Varathan, a Singapore-based economist at Mizuho Bank Ltd. &ldquo Oil prices are not holding up anymore.&rdquo The ringgit weakened 0.5 percent, the biggest decline since Jan. 28, to 3.5800 a dollar as of 2:03 p.m. in Kuala Lumpur, according to data compiled by Bloomberg. The currency has lost 10 percent in six months and reached 3.6375 on Jan. 29, the lowest level since 2009. Brent dropped 1.4 percent Tuesday and has fallen 48 percent since the end of June, prompting the government to revise the 2015 fiscal deficit target to 3.2 percent of gross domestic product from 3 percent. Factory output rose 7.4 percent in December from a year earlier, the government reported Tuesday. That was the most since July 2013 and more than the median estimate of economists in a Bloomberg survey for a 4.1 percent advance. The central bank will release data on foreign-exchange reserves for the fortnight ended Jan. 30 later in the day. Government bonds declined. The yield on the 4.181 percent sovereign notes due 2024 climbed one basis point, or 0.01 percentage point, to 3.82 percent, data compiled by Bloomberg show. |
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teeth53
Supreme |
08-Feb-2015 00:26
Yells: "don't learn through life, learn to grow with life " |
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 negotiating for son to be 1 of 3 UMMO Vice-President n for kopi money is, is not enuff?
then his son is not ready to premiership?. Money oso collected is not enuff?
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GorgeousOng
Supreme |
28-Jan-2015 19:06
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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Malaysia Holds Rate as Economic Outlook Weakens, Ringgit Drops(Bloomberg) -- Malaysia held its key interest rate steady for a third straight meeting as policy makers contend with a faltering economic outlook while facing pressure to shore up a weakening currency. Bank Negara Malaysia kept the overnight policy rate at 3.25 percent, it said in a statement in Kuala Lumpur today. The decision was predicted by all 20 economists surveyed by Bloomberg News. The central bank last raised rates in July. Crude prices at half the level of a year ago have forced oil-producing Malaysia to cut government expenditure as Prime Minister Najib Razak announced last week growth may be slower than initially estimated in 2015. With Singapore today becoming at least the ninth economy to ease monetary policy this month, analysts say Bank Negara may have limited scope to use its key rate to support the ringgit. &ldquo With all this pressure around, it&rsquo s fairly unlikely that they want to hike interest rates at this point, even though the currency is under stress,&rdquo Ho Woei Chen, an economist at United Overseas Bank Ltd. in Singapore, said before the decision. &ldquo The most likely outcome for them is actually to be on hold for this year, because of growth concern, because inflation may actually be not as bad as we original forecast.&rdquo The currency has fallen about 3.4 percent against the U.S. dollar this year, the worst performer among 11 major Asian currencies tracked by Bloomberg. The ringgit depreciated 0.6 percent to 3.6185 in Kuala Lumpur, data compiled by Bloomberg show. The currency slid to 3.6277 on Jan. 21, the weakest level since April 2009. Foreign ReservesMalaysia&rsquo s foreign-exchange reserves have dropped to the lowest level since March 2011 amid speculation the central bank is intervening to curb the decline in the currency. The economy is projected to expand 4.5 percent to 5.5 percent this year, Najib said Jan. 20, compared with an earlier forecast of as much as 6 percent growth. Inflation this year will be between 2.5 percent and 3.5 percent, central bank Governor Zeti Akhtar Aziz said yesterday. The government in October projected consumer price gains to average 4 percent to 5 percent this year. The inflation rate was 2.7 percent in December. &ldquo At the current level, the stance of monetary policy remains accommodative and is assessed to be appropriate given the developments in monetary and financial conditions,&rdquo the central bank said today. &ldquo The Monetary Policy Committee will continue to carefully assess the external developments and their implications on the Malaysian economy.&rdquo While a new consumption tax of 6 percent is set to start in April, price pressures may be limited as the government announced this month it will postpone tariff increases for electricity and gas to reduce the burden for businesses. |
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GorgeousOng
Supreme |
26-Jan-2015 17:28
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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Hackers target Malaysia Airlines, threaten data dumpMon, 26 Jan 2015 12:44:51 +0700 The Malaysia Airlines website was commandeered on Monday by hackers who referenced Islamic State jihadists and claimed to be from the " Lizard Squad" , a group known for previous denial-of-service attacks. 
Malaysia Airlines ground staff unload luggage from a plane at Kuala Lumpur International Airport (KLIA) in Sepang, outside Kuala Lumpur, on December 11, 2014 It was not clear why the troubled airline was targeted but the hacking group said on its Twitter feed that it was " Going to dump some loot found on malaysiaairlines.com servers soon." Visitors to the website were re-directed to another page bearing an image of a tuxedo-wearing lizard and reading " Hacked by LIZARD SQUAD -- OFFICIAL CYBER CALIPHATE" . It also carried the headline " 404 - Plane Not Found" , an apparent reference to the airlines' puzzling loss of flight MH370 last year with 239 people aboard which tipped the already struggling carrier into crisis. Media reports said versions of the website takeover in some regions included the wording " ISIS will prevail" . Malaysia Airlines released a statement confirming its Internet domain name had been compromised, re-directing users. " At this stage, Malaysia Airlines' web servers are intact," it said, but added it could take nearly 24 hours to fully resolve the issue, which it had reported to Malaysian authorities. " Malaysia Airlines assures customers and clients that its website was not hacked and this temporary glitch does not affect their bookings and that user data remains secured," it said. The Lizard Squad is a group of hackers that has caused havoc in the online world before, taking credit for attacks that took down the Sony PlayStation Network and Microsoft' s Xbox Live network last month. The extent of any links with the Islamic State, however, are not yet known. The jihadist group has seized large swathes of Syria and Iraq in a brutal campaign and declared an independent Islamic " caliphate" . It also has used social media in recruiting and spreading its message. The group has prompted world revulsion with its video-taped executions of journalists and other foreigners it has captured. On Sunday, it claimed to have beheaded a Japanese security contractor. A second Japanese captive has also been threatened with execution. Concerns over IS have spiked in Malaysia after scores of its citizens were lured to the Syrian jihad. Malaysian authorities last week said they have detained 120 people suspected of having IS sympathies or planning to travel to Syria. The unexplained loss of MH370 and the airlines' poor crisis-handling in the aftermath of the disappearance severely damaged public confidence in the carrier, sending business into a tailspin. It has since been taken over by a Malaysian government investment fund seeking to rescue the company. |
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teeth53
Supreme |
24-Jan-2015 23:03
Yells: "don't learn through life, learn to grow with life " |
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http://www.malaysiakini.com/news/287025 Dr M, what goes around comes around - Now it&rsquo s your turn???. PM taking the master head on, says Zaid Proxy fight against Mahathir supporters is to isolate Mahathir.&rsquo , as tweeted by former de facto law minister Zaid Ibrahim as the fight is looming between Dr Mahathir Mohamad&rsquo s faction and PM Najib Razak&rsquo s. Former PM Abdullah Ahmad Badawi who played &lsquo dumb&rsquo all the time with him learned the hard lesson. Another Mahathir loyalist, former minister Zainuddin Maidin has chickened out, afraid of facing threats and pressure in his old age. This had been Umno&rsquo s practices since the days of Mahathir&rsquo s premiership using the repressive state apparatus like the police and Malaysian Anti-Corruption Commission (MACC) to investigate (as a warning to toe the line) and using commercial banks to withdraw loans, etc.
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GorgeousOng
Supreme |
21-Jan-2015 18:00
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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Ringgit Three-Month Loss Worst in Asia on Rating Downgrade RiskBy Liau Y-Sing - 21 Jan 2015 5:25:31 pm Malaysia&rsquo s ringgit extended a three-month loss to almost 10 percent, the worst in Asia, after the government&rsquo s increase to the fiscal deficit target prompted Fitch Ratings to warn of a credit-rating downgrade. The currency was already trading at its lowest since 2009 before Prime Minister Najib Razak yesterday raised the 2015 deficit projection to 3.2 percent of gross domestic product from 3 percent amid a slump in crude that&rsquo s eroding state revenue for Asia&rsquo s only major oil exporter. Fitch said its negative outlook on the sovereign indicates it&rsquo s &ldquo more likely than not&rdquo to cut the rating given the nation&rsquo s dependence on commodities. &ldquo The market is a bit concerned that we have a higher deficit target,&rdquo said Choong Yin Pheng, senior manager for bond and economic research at Hong Leong Bank Bhd. in Kuala Lumpur. Fitch&rsquo s statement &ldquo definitely has a bearing on the market,&rdquo she said. The ringgit weakened 0.3 percent to 3.6172 a dollar in Kuala Lumpur and fell to 3.6277, the lowest level since April 2009, data compiled by Bloomberg show. One-month implied volatility climbed to a three-year high. Southeast Asia&rsquo s third-largest economy will expand 4.5 percent to 5.5 percent this year, compared with an earlier projection of as much as 6 percent, Najib said in a speech in the administrative capital of Putrajaya yesterday. The nation isn&rsquo t in crisis, he said. Bonds FallAustralia & New Zealand Banking Group Ltd. lowered its year-end forecast for the ringgit to 3.60 from 3.45, citing further downward revisions to its oil-price target, according to a research note published Jan. 21. Fitch rates Malaysia A-, the fourth-lowest investment grade and three levels above Indonesia. A 57 percent drop in Brent crude since June prompted Najib to cut the oil price assumption target for the 2015 budget to $55 a barrel from $100. It last traded at $48.69. One-month implied volatility in the ringgit, a measure of expected moves in the exchange rate used to price options, advanced 40 basis points, or 0.4 percentage point, to 11.08 percent. It earlier climbed to 11.35 percent, the highest since 2012. The yield on Malaysia&rsquo s 10-year sovereign bonds rose two basis points to 3.98 percent and has climbed six basis points this week, data compiled by Bloomberg show. Malaysian consumer prices advanced 2.7 percent in December from a year earlier, the slowest pace in three months and below the 2.8 percent increase forecast in a Bloomberg survey, official data showed today. |
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GorgeousOng
Supreme |
20-Jan-2015 11:26
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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Ringgit Extends Week&rsquo s Loss Before PM Najib&rsquo s Economy AddressBy Elffie Chew - 20 Jan 2015 9:53:32 am The ringgit extended this week&rsquo s loss before Prime Minister Najib Razak holds a special session on Malaysia&rsquo s economic developments amid a plunge in oil prices. The currency has weakened 11 percent in six months on concern that the drop in Brent crude will reduce earnings for Asia&rsquo s only major oil exporter. Investors are focused on whether Najib will make any adjustments to the 2015 budget assumptions, including the fiscal deficit target, economic growth estimates and the ringgit. &ldquo Najib&rsquo s update on the economic and fiscal position today will be the main domestic focus for the ringgit,&rdquo said Khoon Goh, a Singapore-based strategist at Australia & New Zealand Banking Group Ltd. &ldquo The decline in oil prices is the main reason for the ringgit&rsquo s weakness.&rdquo The currency fell 0.5 percent to 3.5875 a dollar as of 9:48 a.m. in Kuala Lumpur, adding to yesterday&rsquo s 0.4 percent loss, according to data compiled by Bloomberg. The ringgit dropped to 3.6045 on Jan. 14, the lowest since 2009. Ten-year government bonds were little changed, with the yield on the July 2024 notes at 3.94 percent after rising two basis points yesterday, data compiled by Bloomberg showed. Oil-related industries account for a third of Malaysian state revenue. The government, which has run a budget deficit since 1998, is seeking to trim the gap to 3 percent of gross domestic product this year from 3.5 percent. The economy is forecast to expand 5 percent to 6 percent this year compared with an estimated 5.5 percent to 6 percent for 2014, according to the Finance Ministry&rsquo s October economic report. Official data tomorrow may show inflation slowed to 2.8 percent in December from a year earlier, versus 3 percent the previous month, according to the median forecast in a Bloomberg survey. |
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teeth53
Supreme |
20-Jan-2015 08:40
Yells: "don't learn through life, learn to grow with life " |
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PM to unveil game plan on falling oil pricesRam Anand | Jan 19
UPDATED -- New measures will be announced tomorrow, says Najib amid flak. |
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teeth53
Supreme |
07-Jan-2015 08:57
Yells: "don't learn through life, learn to grow with life " |
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In response to falling commodity prices and in a bid to contain capital outflows.
The ministry confirmed that a circular signed by the treasury's secretary-general on Dec. 26 was a move to boost domestic consumption. In an email response to Reuters, the ministry said that the entities were "requested to give priority to domestic investment activity and postpone or put on hold, purchase of assets or investment abroad". Malaysia is a net oil exporter. The government measure was taken at a time of prolonged weakness for the Malaysian currency, largely rooted in the tumble of oil prices. The ringgit, the weakest emerging Asian currency in 2014, dropped to 5-1/2-year lows on Tuesday as falling crude oil prices and a strong dollar continue to add pressure on the currency. - See more at: http://www.straitstimes.com/news/business/economy/story/malaysian-government-linked-firms-asked-stop-buying-foreign-assets-bid-c#sthash.WaXTTjgf.dpuf |
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$warrior
Master |
06-Jan-2015 23:47
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We love (?!) to pose this question on How Malaysia is .... and then coming up with " interesting" answers ... lets turn it around .... How are we in SG dealing with the fact that the Sing Dollar is weakening ....? |
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bamboo300306
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29-Dec-2014 02:19
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This is easy for them to turn around, just increase the toll fees at Tuas and Woodland checkpoint. After a few years can kick off another few Airlines. To rebuild the flooded area, just raised the water price. |
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If convicted, Mohamad Naim faces the possibility of a lifetime behind bars or a maximum 30-year jail term.