Countdown to 2020! [Archive] - Page 9

patchay

October 7th, 2011, 05:19 PM

Pleased as a normal citizen, but disappointed as an economist.

The Budget did not solve the underlying issues of urgency - our massive subsidy, our budget deficit, our cost-cutting measures, our personal income tax and corporate tax levels (corporate tax in Thailand would be reduced from 30% to 23% in 2012 and to 20% in 2013) and our overall tax system (to get ready for GST in 2013), our productivity and inefficient civil service, our low private sector wages, our lower-than-expected domestic corporate investments (relative to our big trade partners), our brain drain issues, our balancing act against massive outflow of local funds abroad, and how to enhance our corporate game. :ohno:

Rosy projections and well.. election goodies at its best! :ohno:

Malaysia Budget 2012 Announcement - The Highlights
October 7, 2011 | Compilation
Source: BERNAMA, TheStar, The Malaysian Insider, The New Straits Times, TheEdge Malaysia, Business Times, The Sun, Malaysian Reserve, Sin Chew Jit Poh

ECONOMICS & FISCAL POLICY

- Last year Malaysia FDI growth rate was the strongest in Asia and in the first 6 months of this year have already reached RM21.2bil (approx. US$7bil)

- In 2012, private investment is forecast to climb 15.9%, supported by foreign and domestic investments

- GDP in the first 6 months of 2011 was 4.4%, driven by strong domestic consumption

- In 2011, the economy is forecast to grow by 5.0 to 5.5%

- Private and public investments are forecast to increase by 15.9% and 7%, supported by foreign investment, the ETP and the 10MP

- In 2012, the service sector is expected to grow 6.5%, the construction sector 7% and GDP is forecast to be between 5 and 6%

- Budget 2012 allocates RM232.8bil for Government plans (last year RM214bil), including RM181.6bil for management and RM51.2bil for development

- RM29.8bil has been allocated for investment in infrastructure, industrial and rural development

- RM13.6bil has been allocated for the social sector, including education and training, welfare, housing and community development

- Total revenue for 2012 is forecast to increase 1.9% to RM186.9bil and the deficit to decrease to 4.7% of GDP in 2012 from 5.4% in 2011

- The theme for Budget 2012 is “National Transformation Policy: Welfare for the Rakyat, Well-Being of the Nation”

http://www.themalaysianinsider.com/images/uploads/2011/october2011/07/federal-budget-2012.png

LIBERALISATION & REFORMS

- Malaysia will liberalise 17 services sub-sectors, in places enabling 100% foreign equity. Amongst them are:
---> accounting services
---> architecture services
---> business services
---> engineering services
---> information technology services
---> legal services
---> medical services
---> private hospitals

INFRASTRUCTURE

- Govt will implement a special stimulus package through private financing initiative, through which total projects amounting RM6 billion will be carried out.

- RP2 will be implemented in 2012, and it will be allocated RM98.4bil, to be split evenly between 2012 & 2013

- RP2 main projects will include the East Coast Highway from Jabor to T'ganu and road upgrades from Kota Marudu to Ranau

- RM18bil of the RM20bil PPP Facilitation Fund will be used for high impact projects, with RM2 billion for bumiputera entrepreneurs

- In 2012, the Government will allocate RM978mil to accelerate the development in five regional corridors, such as the Iskandar Malaysia corridor

- Among the many projects are the construction of the Sungai Buloh-Kajang MRT line, integrated transport terminal in Gombak to improve public transportation and to ease traffic congestion in the Klang Valley

- The development of the Sabah Gas and Oil Terminal, including the 300 MW gas-fired power plant in Sabah would support the subsector. Other projects are the construction of the KLIA2, expansion of clean water supply and electrification projects to rural areas, especially in Sabah and Sarawak.

CAPITAL MARKETS, FOREIGN & DOMESTIC INVESTMENTS

- The Treasury Management Centre will be established and offer incentives to develop M'sia as a competitive financial centre

- Malaysia will develop the Kuala Lumpur International Financial District (this is a RM26bil Malaysian “Wall Street” real estate project), with incentives including income tax exemption of 100% for a period of 10 years and stamp duty exemption on loan and service agreements will be given to KLIFD-status companies

- Income tax exemptions for non-ringgit sukuk issuance and transactions will be extended for another 3 years

- To promote the development of Exchange Traded Funds products I-VCAP will provide RM200mil for Shariah-compliant ETFs

- Felda Global Venture Holdings Bhd will be listed on Bursa Malaysia by mid-2012 to raise funds for the company to become a global conglomerate.

- It will be world's largest plantation company and one of the largest agro-conglomerate in Southeast Asia. Felda settlers are expected to receive a windfall, and the amount will be announced before listing.

- To attract foreign and domestic investments in the capital market and to promote the development of the Real Estate Investment Trusts (REITs) industry, it is proposed that the concessionary tax rate of 10% on dividends of non-corporate institutional and individual investors in REITs up to Dec 31, 2011 be extended for a period of five years commencing Jan 1, 2012 until Dec 31, 2016.

SMALL & MEDIUM ENTERPRISES

- A RM2bil shariah-compliant SME Financing Fund managed by selected Islamic banks will be established in 2012

- A RM100mil SME Revitalisation Fund offering loans up to a maximum of RM1mil for entrepreneurs will be available from Jan 2012

AUTOMOTIVE INDUSTRY

- Full exemption of import duty and excise duty on hybrid cars and electric cars will continue to be given until 2013 :banana:

TOURISM & MEDICAL TOURISM INDUSTRY

- To promote tourism, the Langkawi Five Year Tourism Development Master Plan will be launched with an allocation of RM420mil

- To further encourage investment in hotels, the Govt proposes that hotel operators in Peninsular Malaysia investing in new 4- and 5-star hotels, be given Pioneer Status with income tax exemption of 70% or Investment Tax Allowance of 60% for five years.

- The Malaysia Healthcare Travel Council will be privatised to promote and develop Malaysia as a healthcare destination

R&D, CREATIVITY & INNOVATION

- Budget focuses on developing human capital, creativity and innovation and 2012 will be the National Innovation Movement year

- MyCreative Venture Capital with an initial fund of RM200mil to be established

- The Govt has allocated RM100mil promote innovation including the 1Malaysia Award (C1PTA) for innovative student inventions

- RM100 million allocation for creativity and innovation of which RM30 million will be used to establish the Market Validation Fund to be managed by the Malaysian Technology Development Corporation together with the Malaysia Innovation Agency.

- To enable SMEs to commercialise research products a Commercialisation Innovation Fund totalling RM500mil will be established. A Gross National Income of more than RM30 billion will be generated by 2020 from commercialisation of some 300 intellectual properties in the form of new products and technology from universities by the private sector.

EDUCATION

- The biggest allocation of the Budget: RM50.2bil will be allocated to the education sector so that it can continue to develop talented, creative and innovative people

- The Govt will introduce 90 new school projects, including 12 hostels would be built

- RM1bil will be provided through a special fund for the construction, improvement and maintenance of schools

- Malaysia will abolish payments for primary and secondary education, making these free for the first time in our history :banana:

- Private schools registered with the Education Ministry will be given incentives including an Investment Tax Allowance

- The Govt will give tax exemption for contributions to educational institutions and all places of worship – mosques, temples, churches, etc

- To encourage private sector human capital development incentives including a double deduction on scholarships will be offered

- The Govt will provide Book Voucher worth RM200 will be given to Malaysian students in all private and public institutions of higher learning

- RM100 aid to all primary and secondary students from Year 1 to Form 5 to be implemented through BSN. The measure would benefit 5.3 million students and involve an allocation of RM530 million. :nuts: :nuts: :nuts:

- Abolition of RM24.50 and RM33.50 for co-curriculum, internal test papers, Malaysian Schools Sports Council fees and insurance premium involving students in primary and secondary schools respectively, beginning the 2012 school year

- Financial contributions from companies and individuals to upgrade school facilities to be eligible for tax deductions, to encourage more charitable activities

RURAL ECONOMIC TRANSFORMATION

- Budget 2012 introduces a Rural Transformation Programme, so that rural areas can attract private investment and create employment

- RM5bil to develop rural infrastructure, including RM1.8bil to the Rural Road Programme & Village-Link Road Project. This will involve the construction of 430.7km of rural roads. :banana:

- RM150mil to be provided to the Public Transport Development Fund in the SME Bank to enhance bus services for the rural community

- RM500mil to expand the programme to supply clean water to the most rural community in Sabah, and RM50 million to expand rainwater harvesting programme to Sabah

- RM400mil to upgrade the water supply infrastructure in selected Felda areas

- To provide greater access to bank services for the rural population, Bank Simpanan Nasional will appoint agents in rural areas

- RM90mil for the Orang Asli for basic necessities, including the expansion of the clean water supply project. For the Orang Asli affected by the landslides at Sungai Ruil, RM20mil is provided for their relocation to new homes

- Existing National Agrobusiness Terminal (TEMAN) in Wakaf Che Yeh (Kelantan) and Gopeng (Perak) will be developed as Rural Transformation Centres pilot projects, with four more RTCs to be developed in Kedah, Johor, Sabah and Sarawak

- Establishment of Professional Services Fund to encourage professionals such as lawyers, doctors and accountants to set up firms in small towns, with BSN providing RM100 million for soft loans with an interest of 4 per cent

AGRICULTURE

- The National Agro-Food Policy 2011-2020 will be launched and RM1.1bil allocated for the development of the agriculture sector

- Expansion of the scope of the Commercial Agriculture Fund to include innovative agriculture projects with an allocation of RM300 million

- RM110 million for the implementation of the Rural Mega Leap Programme covering 6,500 hectares in 11 Agropolitan Projects nationwide for the cultivation of commodity and cash crops as well as cage fish culture

CIVIL SERVICE & ARMED FORCES

- Introduction of the New Civil Service Remuneration Scheme (SBPA) to replace the current scheme

- 600,000 Govt pensioners will benefit from an additional annual pension increment of 2%

- Annual increment of civil servants to be increased between RM80 and RM320 according to their grades, beginning 2012. Those who opt for the SBPA will receive an annual increment of between 7 per cent and 13 per cent. :nuts: :nuts: :nuts:

- All 1.3 million civil servants nationwide will be given an additional bonus of half-month salary, or a minimum of RM500, whichever higher and former civil service pensioners be given RM500. To be paid together with December 2011 salary. :nuts: :nuts: :nuts:

- Govt will extend the compulsory retirement age from 58 to 60 years old to optimise civil servants' contribution :banana:

- Civil servants will be offered tuition fee assistance for part-time studies, including 5,000 masters and 500 doctoral scholarships

- The Govt will offer 20,000 places for diploma teachers to pursue undergraduate studies

- RM3,000 will be given to ex-members of the special constable and auxiliary police as well as widows and widowers

- A special one-off payment of RM3,000 to 4,300 individuals who have completed their contracts with the Department of Special Affairs (JASA) and Social Development Department (KEMAS).

- RM442 million for the development expenditure of the Royal Malaysia Police, including for police housing quarters, purchase of communication and technical equipment as well as upgrading of headquarters, stations and training centres.

- RM500 million to upgrade and maintain army camps and quarters nationwide under the Army Care programme.

- RM50 million for the introduction of a special programme to enable army personnel who retired with less than 21 years of service and are not eligible for pension, to venture into businesses and obtain jobs in the public and private sectors.

HOUSING & REAL ESTATE

- The real property gains tax will be reviewed so it doesn't jeopardise the ability of low- and middle-income groups to buy homes

- To curb excessive speculation, Govt proposes to review the Real Property Gains Tax with 10% for sale within 2 years, 5% for 2 to 5 years, and >5 years will not be subject to RPGT :banana:

- My First Home Scheme will be expanded to increase the limit of affordable home prices from a maximum of RM220,000 to RM400,000. This improved scheme will be available to house buyers through joint loans of husband and wife beginning January 2012. :banana:

- Govt will identify areas in the vicinity of MRT, LRT and other public transport to be developed by PR1MA (Affordable Homes Authority). Under PR1MA, in 2011, 1,880 houses will be built in Putrajaya and Bandar Tun Razak, while in 2012, a total of 7,700 houses will be built in Cyberjaya, Putra Heights, Seremban, Damansara and Bukit Raja.

- The government also intends to develop several plots of government-owned land around Sungai Besi and Sungai Buloh.

- Proposal to provide 100% stamp duty exemption on loan instruments for the purchase of houses

- To encourage the construction of more houses using the Build-then-Sell concept, the prime minister announced that Islamic banks have agreed to provide syariah-compliant financing and undertake construction risks. Instalments only commence after the house is completed. This scheme will be implemented for houses costing RM600,000 and below.

- Govt will continue to implement the Program Perumahan Rakyat by building 75,000 units of affordable houses for the lower-income groups. In 2012, RM443 million has been allocated for the construction of 8,000 units for sale and 7,000 units to be rented.

- The Rumah Mesra Rakyat (RMR) programme, managed by Syarikat Perumahan Negara Bhd (SPNB), will be continued to help the low-income group to own decent houses. Under this programme, those with land but without a house or live in dilapidated houses are eligible for financing to build a house. SPNB will build 10,000 units in 2012. Each house costing RM65,000 will be sold for RM45,000 and the Government will subsidise RM20,000. For this, the Government will allocate RM200 million.

- Govt will establish the Special Housing Fund for Fishermen to build, refurbish and modernise their homes

- Through the Abandoned Housing Rehabilitation Programme, the government successfully rehabilitated 82 projects involving more than 15,000 units. The government will continue this with an allocation of RM63 million in 2012 to rehabilitate 1,270 abandoned houses. The Government will also allocate RM40 million for restoration and maintenance of public and private low-cost housing.

- To provide a more conducive environment for the increasing number of expatriates to continue working in Malaysia, the Government will allow the withdrawal of their Employees Provident Fund (EPF) contributions for the purchase of a house

HEALTHCARE

- Healthcare will be allocated RM15bil operating expenditure and RM1.8bil development expenditure

- RM772 million would be allocated to upgrade hospitals including Hospital Kuala Lumpur, Hospital Putrajaya, Hospital Queen Elizabeth Kota Kinabalu and Hospital Kangar. Hospitals will be upgraded and new facilities constructed as well 81 rural health clinics upgraded and 50 new 1Malaysia clinics launched.

- 1Malaysia clinics will offer medical consultation and treatment for a token fee of RM1. :banana:

- General Hospital Kuala Lumpur - the oldest in Malaysia - will be upgraded to be the country's premier hospital

RETAIL INDUSTRY

- Opening of 85 more Kedai Rakyat 1Malaysia with an allocation of RM40 million

SENIOR CITIZENS & DISABLED

- 500,000 will benefit from KAR1SMA, which provides assistance to poor senior citizens, needy children and disabled people

- To ensure the welfare of retirees measures including a tax relief on Private Retirement Schemes contributions are introduced

- Senior citizens aged 60 years and above will be exempted from outpatient registration fees in Govt hospitals and health clinics

- They will also be entitled to a 50 per cent discount on LRT and Monorail
fares

BASIC COMMODITY, COPING WITH INFLATION & SPECIAL ASSISTANCE

- The Govt is mindful of the plight of the rakyat due to rising food prices and will take measures to address this

- In the spirit of “People First,” all subsidies, incentives and assistance (on food, fuel and other basic necessities) totalling RM33.2bil will be continued :nuts: :nuts: :nuts:

- Skim Amanah Rakyat (SARA) 1Malaysia will benefit 100,000 households with income below RM3,000 per month

- The Govt to continue providing subsidy to households with electricity bill of RM20 per month or less, benefiting 1 million households.

- One-off assistance of RM500 to households with a monthly income of RM3,000 and below will be provided. The programme would cost the government an estimated RM1.8 billion and reach some 3.4 million Malaysians or 53 per cent of households in the country. :nuts: :nuts: :nuts:

- For those in private sector earning RM5,000 and below, employers' EPF contribution will increase from 12% to 13% :banana:

- To assist taxi owners facing increased operating costs, measures will be introduced including tax exemptions on taxi purchases. Budget taxi owners to be given 100 per cent excise duty and sales tax exemptions for the purchase of new locally-made taxis. Abolition of road tax on all individually owned budget taxis. Providing assistance of RM3,000 for the disposal of old taxis exceeding 7 years but less than 10 years, and RM1,000 for vehicles of 10 years and above.

- The National Legal Aid Foundation will ensure that every individual who is charged in court will be given free legal aid

- To assist the homeless, the Govt established a Social Assistance Centre Homes known as Anjung Singgah

WOMEN EQUALITY & EMPOWERMENT

- A training allocation of RM10mil will be provided for women to develop leadership and managerial skills

- To prevent cervical cancer, the Government will provide free Human Papilloma Virus immunisation nationwide

- The Govt has recently announced to encourage at least 30% quota for women in Malaysia's corporate and Board of companies

YOUTH, SPORTS DEVELOPMENT & NATIONAL INTEGRATION

- RM15mil will be allocated to build 150 futsal courts to achieve the “One Court for One Mukim” target (One Court for One Provisional Area) :banana:

- RM320 million to implement various activities involving young people.

SECURITY

- The security sector would be provided RM4.4 billion to beef up the uniformed personnel's capacity and capability

- Also RM112 million would be allocated to reduce crime in the crime prone areas

jani13

October 7th, 2011, 10:15 PM

I've read a few people complain about the RM15m allocated for futsal courts.. The funny thing was that they were all women :D

sepul

October 8th, 2011, 02:42 AM

^^they must have wanted the same amount for netball courts as well:lol:

nazrey

October 11th, 2011, 08:22 PM

Laureate Will Transcend Towards Elevating Malaysia As Regional Education Hub
April 07, 2010 21:10 PM
http://www.bernama.com.my/bernama/v5/newsgeneral.php?id=488824

KUALA LUMPUR, April 7 (Bernama) -- Malaysia's aspiration to become a regional education hub received its strongest vote of confidence yet when Laureate International Universities, the world's largest private education network, officially moved its Asian regional base from Hong Kong to Kuala Lumpur.

Higher Education Minister Datuk Seri Mohamed Khaled Nordin said it was gratifying that Laureate had made this strategic move as it was a clear signal that the Malaysian education sector was moving in the right direction.

"Through the National Higher Education Strategic Plan, we are paving the way towards a holistic transformation of our higher education environment, not only to be world class in nature, but also be the best in the region.

"Apart from developing efficiencies in the system where the potential of higher education as a service sector will contribute towards the economy, it is also a part of our bid to win a stake in the global knowledge economy," he said at the launch of Laureate Education Asia Ltd Regional Office here.

Laureate International Universities has a presence in 21 countries globally, with more than 50 institutions and currently serving over 550,000 students.

He said private higher education system in the country must grow in tandem with the needs of the nation and would contribute positively towards knowledge development and the economic prosperity of the nation.

"And this is where I see the role of international players in helping us develop our higher education system, where they bring with them their experience as well as credibility based on their standings in the global education arena.

"For instance, organizations like Laureate have a wealth or resources to share such as best practices, resources, methodologies and much more," he said.

Khaled also witnessed a signing of memorandum of agreement between University of Wollongong (UOW), Australia and INTI Education Group at the ceremony.

UOW will become the exclusive Australian education provider for the Malaysian based INTI Education Group which became a member of the Laureate International Universities network in 2008.

Khaled said the ministry was currently at the stage of evaluating the application of upgrading the status of INTI University College (INTI-UC) to a university.

-- BERNAMA

Najib Outlines Four Elements For Malaysia To Become Regional Education Hub
March 18, 2010 23:16 PM
http://www.bernama.com.my/bernama/v5/newsgeneral.php?id=483596

PETALING JAYA, March 18 (Bernama) -- Datuk Seri Najib Tun Razak Thursday night outlined four ingredients for Malaysia to become a regional education hub, the first being a strong commitment to academic excellence and merit-based programmes.

The Prime Minister said the second component was social inclusiveness where the poor and the marginalised must be given opportunities to succeed.

"They cannot be left behind in the rush to reach the highest level of development," he said in his speech when launching the Jeffrey Cheah Foundation in Sunway here today in the presence of Sultan Sharafuddin Idris Shah of Selangor, the Royal Patron of the foundation.

The third ingredient, according to Najib was to strengthen the country's educational methods by adopting international best practices.

The last element, he said, involved nurturing a cohort of thinking graduates who excelled in strategic thinking and creativity.

"(All) these are critical if Malaysia is to compete internationally with the world's best," said Najib.

Najib said that besides these, strong communication and language skills were also important and English proficiency was essential as well as fluency in other languages.

The Prime Minister said that the support of the private sector was important for Malaysia to achieve its vision of becoming an education hub for the region.

"Recognising that education sector is a key enabler and engine of national growth and transformation, we are considering further incentives to support its development. The government will continue to consult and work with the private sector to ensure the education system meets its current and future needs," he said.

Najib said the New Economic Model will place importance on nurturing creativity and innovation and this context, it was vital that public and private universities focused more on applied research and innovation as well as development of thinking skills.

In his speech, Najib also called on all Malaysian schools, universities and institutions of higher learning to reinforce the 1Malaysia philosophy of People First, Performance Now.

"1Malaysia represents a way of life and reflects the government's unequivocal commitment of a Malaysia for all Malaysian's - a place that cherishes acceptance and celebrates our diversity.

At the event, Tan Sri Jeffrey Cheah, the founder and chairman of Sunway Group donated RM20 million to the foundation.

Najib said that the establishment of the foundation was an excellent example of corporate and personal philanthropy at its best in Malaysia.

"I hope this will serve as an example for other leading entrepreneurs and business people to follow," he said.

-- BERNAMA

NEM to rejuvenate education, says Najib
Friday March 19 2010 By Syed Jaymal Zahiid
http://www.themalaysianinsider.com/index.php/malaysia/56702-nem-to-rejuvenate-education-says-najib-

PETALING JAYA, March 18 — Datuk Seri Najib Razak wants the New Economic Model (NEM) to focus on revitalising the country’s education, a sector educationists say is plagued by plunging quality.

Under the NEM, the Najib administration will come up with more merit-based programmes, a move his predecessors have long called for but faced resistance from within his ruling Umno as it will dismantle some, if not all race-based programmes, in line with his all encompassing 1 Malaysia concept.

“Another aspect of this is social inclusiveness… no one should be left behind,” the prime minister said when launching the Jeffrey Cheah Foundation.

Tan Sri Dr Jeffrey Cheah is the founder of one of Malaysia’s most profitable private education outfits, the Sunway Education Group which owns Sunway University College.

Najib believed the private education sector can help his government achieve his target and pleaded for greater co-operation from them.

His NEM aims at propelling the lagging low-value economy forward and among its initiatives is the consolidation on creativity and innovation.

To achieve this is to transform the current education system and strive for academic excellence through adopting the best practices to “strengthen the educational method”, said the prime minister.

He is also keen to make Malaysia, an education hub in the Southeast Asia region.

“I hope all public and private universities will nurture creativity and thinking skills to retain a strong talent pool.

“I call for all public and private education institution to provide incentives to combine efforts to make this country an education hub,” he added.

Najib is expected to announce his NEM in stages, with the first being at the end of March.

The model has already met fierce rejections by the hawks from within his party.

He is now placed in a difficult position of having to choose between retaining the Malay patronage economy to sustain Umno’s core support, or getting the economy out from its neck-deep problems.

Transformation Of Higher Education On Right Track - Khaled
March 25, 2010 16:44 PM

SEPANG, March 25 (Bernama) -- Completion of the Foundation Laying Phase in December, first phase of the National Higher Education Implementation Strategic Plan (PSPTN), will put transformation of higher education on the right track.

Higher Education Minister Datuk Seri Mohamed Khaled Nordin said to strengthen PSPTN, eight entrepreneurial elements would be implemented as addition to the 21 Critical Agenda Projects (CAPs).

He said although entrepreneurial elements would be included as components in programmes like "Holistic Student Development" and "Learning and Teaching", it was inadequate to make entrepreneurship visible to the national economy.

"Transforming the country to that with high income needs entrepreneurial elements to provide a shift towards a competitive domestic economy," he said when opening a PSPTN Implementation Seminar here Thursday.

Mohamed Khaled said implementation of half of CAPs in the transformation plan will involve universities, polytechnics and community colleges.

-- BERNAMA
Dept’s role to be widened to turn Malaysia into educational hub
June 18, 2010, Friday
http://www.theborneopost.com/?p=38726

PUTRAJAYA: The Higher Education Ministry will widen the functions of the Malaysian Student Department (MSD) in an effort to turn the country into an international hub for higher education.Its minister, Datuk Seri Mohamed Khaled Nordin said among the improvements to the MSD was that it would become a promotion centre for local higher education abroad.

In addition, he said the MSD would also play a role in forging cooperation with foreign educational centres besides studying the development of higher education in the developed countries.

“The ministry is in the final stage of providing new functions for the MSD and is waiting for a cabinet decision,” he told reporters after opening the Higher Education Marketing Seminar 2010 at the Putrajaya International Convention Centre (PICC), here yesterday. Mohamed Khaled said Malaysia had the potentials to become an international hub for higher education following efforts taken by the ministry.

He said among the efforts was the selection of the education sector as one of the National Key Economic Areas (NKEA) and it was perceived to be able to contribute to national economic growth.

“We are targeting 200,000 international students to continue their studies at tertiary institutions throughout the country this year.

“So far, we have 80,000 international students. With 20 public and 47 private institutions of higher learning in the country, this target can be achieved,” he said. The minister said that in order to meet this target, local tertiary institutions must carry out a re-branding process so that they could compete in the international market and become the higher education centre of choice among students.

The seminar, organised jointly by the Ministry of Higher Education and Universiti Putra Malaysia (UPM), was held to understand the strategy in internationalising the country’s higher education centres. — Bernama

IPTS Must Compete With IPTA To Make Malaysia Regional Education Hub
24 Mar 2011
http://bernama.com/bernama/v5/newsgeneral.php?id=573545

KUALA LUMPUR, March 24 (Bernama) - Private institutions of higher learning (IPTS) must compete with public institutions of higher learning (IPTA) to make Malaysia a regional hub for higher education.

Deputy Prime Minister Tan Sri Muhyiddin Yassin said IPTS should see it in the context of National Key Economic Activities (NKEA) and tap cluster education to propel the economy to higher level.

"IPTS has a big role to play what with some 75,000 foreign students in the country with 150,000 targeted by 2015," he said when opening the new campus of Kolej Teknologi Yayasan Pendidikan Cheras (YPC) in Taman Maluri, Cheras today.

The Education Minister said IPTS should become factories to produce quality and highly skilled professionals to meet demands of the new economic model.

"We must dare to compete and create excellence not only at domestic level but also globally to make Malaysia an international education hub."

He said the government was always monitoring IPTS to ensure that the subjects offered meet standards and address job market demands.

"The government is making the education sector an economic investment to attract foreign students."

On the new campus, Muhyiddin hopes that it can elevate the status of education in the country to be on par with leading foreign institutions.

"I deeply appreciate efforts targeted at students from midle and low incomeNfamilies who do not get places in IPTA."

Meanwhile, YPC chairman Datuk Syed Ali AlHabshee said construction of the RM32mil campus started in July 2009.

It is equipped with 22 classrooms, 14 tutorial rooms, eight computer and two multimedia laboratories and art studios that can accommodate 4,000 students.

At the ceremony, 30 Business and Information Technology foundation programme students received Star-YPC scholarships.

- BERNAMA
Unesco impressed with KPIs for education
By RICHARD LIM Friday May 13, 2011
http://thestar.com.my/news/story.asp?file=/2011/5/13/nation/8677217&sec=nation

http://thestar.com.my/archives/2011/5/13/nation/n_10muhyiddin.jpg
Muhyiddin chatting with a mechatronics students during his
visit to the Lycée Dorian Vocational School in France. — Bernama

PARIS: Malaysia's focus on education through the National Key Results Areas (NKRAs) and the use of Key Performance Indicators (KPIs) has caught the eye of the United Nations Educational, Scientific and Cultural Organisation (Unesco).

Unesco director-general Irina Bokova said such implementation was important to improve efficiency and accountability in the education system.

Describing KPIs as “important management tools”, she said Unesco was trying to help certain countries establish similar systems.

“School environment, motivation, teacher practices and curricula are important areas for Unesco and we help countries elaborate on them through our International Bureau for Education in Geneva.

“The United Nations Development Programme is also making efforts to develop a special framework in this area, so it's all very positive development,” she told Malaysian journalists covering the visit of Deputy Prime Minister Tan Sri Muhyiddin Yassin here.

Bokova, who has headed Unesco since 2009, said the body also supported the use of mother tongue education in schools.

She said Unesco's policy in principle was to promote mother tongue education especially at the primary level.

“We have seen evidence on the ground that children excel more in school when they learn in their mother tongue.

“I know it is costly and harder to organise but from what we have seen, the quality of education improves when one's mother tongue is used,” she added.

Meanwhile, Muhyiddin announced that students who were long-term hospital patients would be given the chance to catch up on their studies under a planned programme by the Education and Health ministries.

He said the “School in Hospital” programme would ensure no one would be left behind in continuous education.

“Discussions on the matter will be held between the Education and Health ministries,” Muhyiddin told a press conference before wrapping up his working trip to Europe.

Paradigm shift needed to make Malaysia global hub for higher education
Published: Monday October 10, 2011 MYT 2:48:00 PM
http://thestar.com.my/news/story.asp?file=/2011/10/10/nation/20111010150132&sec=nation#13183476646421&if_height=447

KUALA LUMPUR: Deputy Prime Minister Tan Sri Muhyiddin Yassin has called for a paradigm shift in the academic world to fulfil the vision to make Malaysia a hub for higher education of global standard.

He called on academicians to be at the forefront in coming up with high-impact research and make innovation a pillar in instilling high-performance culture in universities.

He said Prime Minister Datuk Seri Najib Tun Razak's announcement during the tabling of the 2012 Budget, declaring 2012 as the Year of National Innovation Movement, should be taken up by academicians through the implementation of commercially-viable research and development projects.

"In this context, academicians should be at the frontline in coming up with new commercially-viable ideas.

"I hope that academicians who are experts in various fields will grab this golden opportunity and spearhead the National Innovation Movement announced by the prime minister," he said in his speech at the 2009/2010 National Academic Awards at Putra World Trade Centre, here Monday.

Muhyiddin, who is the Education Minister, said to encourage the culture of innovation among the people, the Government had come up with strategic initiatives, with a funding of RM100mil, including to implement strategy to internalise innovation among public higher learning institutions.

He also urged the private sector to come forward and collaborate with these institutions in innovating new products to bring the country's economic value chain to greater heights.

"It is therefore appropriate for these institutions to double their effort in striking strategic collaborations with the industry to commercialise products from research carried out by academicians and to obtain patents and intellectual property rights on these products," he said. - Bernama

nazrey

October 11th, 2011, 08:23 PM

Rizab BNM RM417 bilion
ARKIB : 10/10/2011
http://www.utusan.com.my/utusan/info.asp?y=2011&dt=1010&pub=Utusan_Malaysia&sec=Ekonomi&pg=ek_02.htm

KUALA LUMPUR 9 Okt. - Rizab antarabangsa Bank Negara Malaysia (BNM) berjumlah RM417.2 bilion (AS$131 bilion) pada 30 September 2011.

Menurut satu kenyataan yang dikeluarkan BNM, paras rizab pada 30 September 2011 telah mengambil kira pelarasan suku tahunan bagi peningkatan nilai rizab disebabkan oleh penilaian semula pertukaran asing berikutan pengukuhan beberapa mata wang utama berbanding dengan ringgit pada suku ketiga.

Paras rizab ini memadai untuk membiayai 9.7 bulan import tertangguh dan 4.5 kali hutang luar negeri jangka pendek.

nazrey

October 11th, 2011, 08:47 PM

RM5 billion to strengthen rural basic infrastructure
Posted on October 8, 2011, Saturday
http://www.theborneopost.com/2011/10/08/rm5-billion-to-strengthen-rural-basic-infrastructure/

KUALA LUMPUR: The government has allocated RM5 billion to strengthen basic rural infrastructure development in a more comprehensive manner next year, said Datuk Seri Najib Tun Razak.

The prime minister said of the total, RM1.8 billion is for Rural Roads Programme and Village Link-Road Project to construct 2,749km network of roads to benefit 1.76 million rural population.

Another RM2.1 billion has been provided to expand water supply to 200,000 homes and RM1.1 billion for electricity supply to 39,000 houses in rural areas, particularly in Sabah and Sarawak, he said when tabling Budget 2012 in the Dewan Rakyat yesterday.

Public Infrastructure Maintenance Project (PIA) and Basic Infrastructure Projects (PIAS) to upgrade basic infrastructure especially in rural areas have been a success and the government will continue to implement them
with an allocation of RM500 million.

“Implementation of PIA and PIAS will involve the participation of about 29,000 Class F contractors registered with the Contractors’ Service Centre,” he added.

Najib said the government was particularly concerned with clean water supply to rural communities, including in remote areas of Sabah and Sarawak, although the water supply reticulation projects take a long time to implement.

As an immediate measure, the government has supplied 20,000 tanks for the collection of rain water in the interior of Sarawak, especially longhouse residents at a cost of RM52 million.

“This facility provides benefits to about 100,000 people. For 2012, the programme will be extended to Sabah with an allocation of RM50 million,” he said.

Some RM400 million has been allocated for upgrading water supply infrastructure in stages in selected Felda schemes as the facility has been operating for over 50 years and is obsolete.

He said the government also allocated RM50 million to improve water supply that involve extending supply from estates to the main pipes.

It also agreed that water supply authorities impose domestic tariff on estate housing estates as compared to industry rate at present.

“The Ministry of Human Resources will be responsible for coordinating and monitoring the implementation of water supply facilities.”

He said to provide a more comfortable, credible and quality bus service, an additional allocation of RM150 million will be prepared and channelled to the Public Transport Development Fund at SME Bank.

As such, inter-city bus, mini bus and school bus operators could apply for soft loans at four per cent interest rate to buy or repair buses.

“This facility will be available from Jan 1, 2012,” he said.

For the safety of Orang Asli population in Sungai Ruil, Cameron Highlands, the government will allocate RM20million to relocate landslide victims to new housing areas.

Najib said four more Rural Transformation Centres (RTC) will be built in Kedah, Johor, Sabah and Sarawak.

The National Agrobusiness Terminal (Teman) at Wakaf Che Yeh, Kelantan and Gopeng, Perak will be developed as an RTC pilot project.

Some RM100 million in soft loans at four per cent interest will be provided by Bank Simpanan Nasional (BSN) under the Professional Services Fund for lawyers, doctors, accountants and others to set up firms in small towns. — Bernama

nazrey

October 11th, 2011, 08:58 PM

Economic Report 2011/2012: GDP to grow 5% to 6% in 2012
Source: http://www.theedgemalaysia.com/highlights/194185--economic-report-20112012-gdp-to-grow-5-to-6-in-2012.html

http://www.theedgemalaysia.com/images/stories/FD_Charts/eco_2012.gif

The government projects the economic growth to pick up in 2012, with GDP expanding between 5% and 6% with construction as one of the key drivers.
This is a more upbeat forecast compared with the 5% and 5.5% GDP growth expected in 2011 following headwinds from the US and Europe banking crisis.

http://www.upislam.com/images/01800115432120717675.jpg

nazrey

October 11th, 2011, 09:01 PM

Govt to have seven focus areas in 2012
2011/10/07
http://www.nst.com.my/nst/articles/TransformationalBudget_WelfarefortheRakyat_Well-beingoftheNation_/Article/#

http://www.nst.com.my/articles/TransformationalBudget_WelfarefortheRakyat_Well-beingoftheNation_/single

KUALA LUMPUR: The government will have seven focus areas in 2012, two of which are a more targeted subsidy programme for low- and middle-income groups and more incentives for new investments.

Given the strategies and programmes under the 2012 Budget, the Malaysian economy is expected to register an expansion of 5 to 6 per cent in 2012.

In its economic report for 2011/2012, the government said it will implement measures to reduce the impact of inflation; enhance the well-being of the rak-yat; accelerate rural transformation; reinvigorate investment activities, innovate Malaysia; develop human capital and improve public services delivery.

Assistance will be provided by the government to increase disposable income among low- and middle-income groups on top of measures like Kedai Rakyat 1Malaysia and the Menu Rakyat 1Malaysia, in a move to provide for affordable goods and food.

Long-term programmes to increase the supply of agriculture produce will also be launched.

In an effort to ensure affordable housing, the government will provide assistance to private sector-led schemes in the form of provision of land, facilitation of fund and green lane treatment for fast track approval.

On top of this, the government will also work to transform rural areas as thriving economic districts with modern facilities and infrastructure.

Besides according better quality of life to people, the initiative will also reduce youth migration to urban areas.

In an effort to bring in more investments, the government will introduce several incentives to attract promoted investment to the country.

It also plans to introduce greater competition in the economy, enabling a wider choice of goods and services for consumers.

In a move to inculcate the innovation culture in Malaysian society, the government will introduce new programmes to inculcate positive behaviours and traits, in particular among the younger generation.

Measures will also be introduced to facilitate commercialisation of innovative products and services.

On developing human capital, the government will work to improve labour legislation to reduce costs of managing workforce-related issues.

Significant allocations will be provided to relevant agencies to undertake various lifelong learning and training programmes across the country.

Finally, the government will continue to execute reforms to create a lean and flexible civil service and introduce electronic-based initiatives to facilitate citizen interaction with the government and in policy-making.

The country’s growth in economy in 2012 will translate into a nominal gross national income per capita growth of 7.4 per cent from RM28,725 to RM30,856.

nazrey

October 11th, 2011, 09:04 PM

Nation’s potential as regional medical devices hub boosted by latest EPP moves
Posted on October 5, 2011, Wednesday
http://www.theborneopost.com/2011/10/05/nation’s-potential-as-regional-medical-devices-hub-boosted-by-latest-epp-moves/

KUCHING: The country’s rapidly expanding medical devices industry and its potential to be a regional hub for the segment will be highlighted during the inaugural Asia Medical 2011, Asia’s first international medical supplies, equipment and technology exhibition and conference which begins today at the Putra World Trade Centre in Kuala Lumpur.

The recent introduction of seven new medical Entry Point Projects (EPPs) by the government under the Healthcare National Key Economic Areas (NKEAs) had brought the total number of EPPs to 13 and expected to generate RM17.1 billion in revenue which in turn, would contribute RM11.4 billion in gross national income and create 86,000 jobs by 2020.

According to Malaysian Exhibition Services Sdn Bhd’s (MES) general manager Alun Jones, the scheduling of Asia Medical 2011 had been timely as a total of 70 exhibitors from across the globe would be coming to display a full range of products and technology including dental equipment, diagnostics, electromedical devices, laboratory equipment, medical consumables, ophthalmic supplies, pharmaceutical supplies and medical furniture.

“In addition to a national pavilion from Singapore, companies participating include OSA Technology, Modiezham, Nouvag, Fuji Film, PLT Scientific, Tech Lab, Elid Sales and Marketing, LKL, Red Crescent Malaysia and WTK Technologies.

“The estimated 2,000 trade visitors will comprise all manner of healthcare professionals working in hospitals, surgeries, clinics, pharmacist outlets and OTC (over-the-counter) retailers in Asean. This includes more than 300 IT directors and managers from hospitals throughout the country,” said Jones.

Malaysia already had a significant medical devices industry, mainly in catheters, surgical gloves and medical instrumentation, supplying 80 per cent of the global market in catheters and 60 per cent of the rubber glove market.

Valued at RM2.7 billion last year, the nation’s medical devices industry would be estimated to increase to RM2.9 billion this year, and to RM5 billion by next year.

To complement Asia Medical 2011, two conferences would be held. Frost and Sullivan would be organising the ‘Breaking Grounds with New Medical Technology’ conference while the Ministry of Health’s Informatics Centre (HIC) would be running the ‘HIS Interoperability Summit’. Both conferences would see experts of various fields gathering to discuss key issues that would affect the medical community in coming years.

In conjunction with the summit, a ‘Health Informatics IT Village’ would provide a platform for IT vendors to display their latest solutions for delegates to experience the topics and technologies discussed in real time.

MES is also affiliated to the Allworld Exhibitions Alliance of exhibition organisers, managers and consultants whose members have been organising trade shows for over 30 years, organising over 150 trade exhibitions biennially.

nazrey

October 11th, 2011, 09:10 PM

http://www.nst.com.my/nst/PixFront/pix_top_101202
http://www.nst.com.my/nst/PixFront/pix_top_101202

MEETING OF LEADERS... Prime Minister Datuk Seri Najib Razak exchanging pleasantries with state leaders before chairing the 113th Meeting of Menteris Besar and Chief Ministers at his office in Perdana Putra, Putrajaya, yesterday. The meeting is aimed at, among others, streamlining the administration of the states and deliberating on matters raised by the state leaders. Deputy Prime Minister Tan Sri Muhyiddin Yassin, Chief Secretary to the Government Tan Sri Mohd Sidek Hassan and several ministers were also present. — Bernama picture Oct 12, 2011 1:23 am

nazrey

October 11th, 2011, 09:23 PM

2011 palm oil exports may reach RM70b
Published: 2011/10/06
http://www.btimes.com.my/Current_News/BTIMES/articles/20111006115155/Article/index_html

Malaysian palm oil exports may rise to RM70 billion, Plantation Industries and Commodities Minister Bernard Dompok told reporters in Kuala Lumpur today. - Bloomberg

nazrey

October 12th, 2011, 04:05 PM

Nestle to plant seedlings under reforestation project of Kinabatangan river
Posted on September 28, 2011, Wednesday
http://www.theborneopost.com/2011/09/28/nestle-to-plant-seedlings-under-reforestation-project-of-kinabatangan-river/

http://www.theborneopost.com/newsimages/A451.jpg

TARGETTED COVERAGE: Vogt says the three-year reforestation project is
targetted to cover 2,400 hectares of riverside vegetation along the river for
ecological and environmental functions.

SANDAKAN: Nestle (Malaysia) Bhd will plant forest seedlings up to 150 kilometres on both sides of the Kinabatangan river under a reforestation project that will create a landscape where people, nature and agriculture co-exist harmoniously in their need for water.

Managing director Peter R Vogt said the three-year reforestation project is targetted to cover 2,400 hectares of riverside vegetation along the river for ecological and environmental functions.

“The Nestle RiLeaf project will see forest seedlings planted on both sides of the river over a 110km stretch of the Kinabatangan river,” he said at the launch of the project on Monday by Sabah Minister of Tourism, Culture and Environment Datuk Masidi Manjun in Sukau, Kinabatangan.

Vogt said the initial phase would see 100,000 trees being planted over the next one year to commemorate Nestle’s 100 years of existence in Malaysia in 2012.

“This project reflects our global philosophy of creating shared value, as in addition to saving the environment, it will stimulate the local economy by creating jobs and generating income for the local community who are directly as well as indirectly involved in the project.

“We are also looking at how we can engage with our palm oil stakeholders in the Nestle supply chain here to have a meaningful and positive sharing of value for the benefit of all,” Vogt added.

RiLeaf would leverage on the commercial agriculture experience and expertise of Nestle to speed up riverside reforestation and increase the durability of indigenous forest seedlings to ensure greater survivability.

Carried out with the full endorsement of the Sabah government, the Nestle RILeaf project would also have an active role in palm oil sustainability, reduce environmental impact of oil palm plantings through minimisation of chemical fertilisers and promote back-to-basic good agricultural practices.

The 560km long Kinabatangan is Malaysia’s second longest river and is crucial for the survival of wildlife, plants and man.

Rapid change in land-use along the Kinabatangan had led to a degree of deforestation and forest degradation which had a worrying impact on wildlife habitats, forcing some already endangered species into the remaining pockets of jungle, and increasing stress on the ecosystem. — Bernama

nazrey

October 12th, 2011, 04:07 PM

M’sia makes huge gains in information technology competitiveness ranking, reaches top 20 list
Posted on September 28, 2011, Wednesday
http://www.theborneopost.com/2011/09/28/m’sia-makes-huge-gains-in-information-technology-competitiveness-ranking-reaches-top-20-list/

http://www.theborneopost.com/newsimages/A446.jpg

Robert Holleyman

SINGAPORE: Asia Pacific economies are becoming more competitive in information technology (IT), with seven economies, Singapore, Australia, Taiwan, Japan, New Zealand, South Korea and Hong Kong, making the top 20 list of the most competitive economies in the world in IT.

Malaysia and India had also made huge gains, each rising more than 10 spots, according to the Business Software Alliance (BSA) in the 2011 edition of the Economist Intelligence Unit’s IT Industry Competitiveness Index.

Updated for the fourth time since 2007, the index benchmarks 66 economies on a series of indicators covering the critical foundation areas for IT innovation: overall business environment, IT infrastructure, human capital, research and development (R&D), legal environment, and public support for industry development.

BSA president and chief executive officer Robert Holleyman said it was abundantly clear from this year’s IT Industry Competitiveness Index that investing in the fundamentals of technology innovation would pay huge dividends over the long term.

“It is also clear that no economy holds a monopoly in information technology.

“There is a proven formula for success, and everyone is free to take advantage of it.

“Because of that, we are moving to a world with many centres of IT power,” he said when unveiling the report yesterday.

Topping the overall rankings for 2011 are the US, Finland, Singapore, Sweden, and the UK.

Seven Asia Pacific economies are now ranked in the top 20 compared with six in the 2009 Index.

New entrant Hong Kong improved its global ranking from 21st to joint 19th with South Korea.

Other economies that had shown improvement included Singapore, which leapt from ninth to third; Taiwan from 15th to 13th; and New Zealand from 19th to 18th.

BSA Asia-Pacific senior director (Policy) Roger Somerville said, “Asia Pacific economies have done well with most improving their rankings, some markedly so in the case of Singapore, Malaysia and India.” In particular, he said, Asia Pacific economies dominated in the human capital category, with China, Australia, South Korea, New Zealand, Taiwan and India all in the top 10.

He said the regional economies also fared well in support for IT industry development, with Singapore, Australia, New Zealand and Hong Kong in the top 10.

“The future for Asia Pacific is positive, and in the years ahead, policymakers in the region have an opportunity to build on existing momentum and shore up any weaknesses. We know from global experience it will be worth the effort,” he said.

The biggest movers in this year’s index compared with the previous edition in 2009 included Malaysia, which vaulted 11 spots in the overall rankings because of a surge in research and development activity, and India, which leapt 10 spots on the strength of its robust research and development and dynamic human capital environment. — Bernama

nazrey

October 12th, 2011, 04:10 PM

Sany Heavy looking to invest in Malaysia
By Sharen Kaur Published: 2011/09/14
http://www.btimes.com.my/Current_News/BTIMES/articles/konbayo/Article/

http://www.btimes.com.my/articles/konbayo/pix_middle

KUALA LUMPUR: Emerging markets like Malaysia have become more attractive for foreign companies as developed nations continue to grapple with their weakened economies.

China's Sany Heavy Industry Co Ltd, which makes engineering machinery, is looking to make maiden investments in Malaysia to grow, its president and chief executive officer Xiang Wenbo said.

"We see that the prospects for Malaysia look good. We are encouraged by the nation's economic stability," he said at a press conference at the Forbes conference yesterday.

Currently, 80 per cent of its business is focused in China. It is also looking to make investments in the US, Germany, Brazil and India.

"We plan to set up more factories. In the US and Germany, apart from wanting to explore their markets, we want to provide technical talent and management people. In Brazil and India, we want to broaden our market.

"In the future, we will attempt to build more factories in other countries such as Indonesia and South Africa. For Malaysia, we are still exploring opportunities through our office here," Wenbo said.

Wenbo said the company is also looking to partner foreign companies including Malaysian firms to invest in China.

"Over the next 10 years, China needs new public transportation, housing and facilities for urbanisation. We need more harbours and airports and look forward to cooperating with foreign investor to undertake the projects," he said.

As for Biocon Ltd, India's largest listed biotechnology firm, emerging markets offer more opportunities, said Biocon chairman and managing director Kiran Mazumdar-Shaw.

"They offer challenging yet lucrative opportunities. Emerging markets also offer cost-effective manufacturing and that is why we are investing in Malaysia," she said.

Biocon is investing RM500 million to set up a biopharmaceutical manufacturing and research and development facility in Bio-XCell, a biotechnology park and ecosystem in Iskandar Malaysia, Johor.

This is the first venture for Biocon outside India.

The first phase, targeted to be operational by 2014, will produce high-end biosimilars and other biopharmaceutical products.

The plant will cater to global demand for Biocon's range of Biosimilar insulin and insulin analogs for diabetes treatment, being commercialised by its partner, Pfizer Inc.

nazrey

October 12th, 2011, 04:17 PM

NHF (http://www.newhoongfatt.com.my/nhf.htm) to invest in 3D laser machines
Published: 2011/09/30
http://www.btimes.com.my/Current_News/BTIMES/articles/20110930133104/Article/index_html

New Hoong Fatt (NHF) Holdings Bhd plans to invest in 3D laser-cutting machines as part of its investment in plants and machinery to cater to the growing market demand.

This proposed capital expenditure includes the purchase of the Trumpf Group's world renowned laser-cutting machine, namely Trumpf TruLaser Cell 7040.

"Being the only manufacturer in Malaysia to employ the use of Trumpf Group's advanced 3D laser-cutting technology, the company aims to increase the capacity of its laser-cutting production line by an additional 35 per cent.

"NHF is the first and only company in Asean to have four solid state Trumpf 3D laser-cutting machines at this moment," the company said in a statement.

The use of this machine will result in higher productivity and lower costs.

The NHF will utilise this machine for the production of its metal automotive replacement parts such as hoods, fenders, doors and trunk lids.

"NHF started using Trumpf equipment since 1998 and has invested more than RM10 million on its laser technology since then, including this latest purchase.

"As NHF's business strategy includes growing our business locally and internationally, we are experiencing increasing demand for our products," the company said, adding that over the past five years, the company has invested about RM100 million in total capital expenditure.

"This includes purchase of machinery and tools and dies, and we expect to continue investing in our business in Malaysia in the years to come.

"These are part of our plans to further grow our business," said NHF Managing Director Chin Jit Sin. -- BERNAMA

nazrey

October 12th, 2011, 04:18 PM

M’sia can achieve high-income status earlier through grassroots innovation
30th September, 2011
http://www.newsabahtimes.com.my/nstweb/fullstory/52681

PUTRAJAYA: Grassroots innovation, if well capitalised will enable Malaysia to achieve high-income economic status even before 2020, says an Indian scholar.

The vice-chairman of National Innovation Foundation of India, Professor Anil K. Gupta said Malaysia can achieve the status through the enhancement of grassroots innovation as high-income can only be achieved by reducing cost and simultaneously increasing productivity.

Grassroots innovation is generated by people who do not have the formal requirement to invest in an idea or product.

He said grassroots innovation is made up of cheap, easy-to-find and sustainable raw materials and if the government gives due consideration to the innovators by commercialising their ideas, the nation stands a great chance of achieving the high-income economic status much earlier than targeted.

“The government through its agencies must go for grassroots innovators as they usually do not emerge in the mainstream for fear of being sidelined.

“If Malaysia can capitalise on these talents, from what I have seen in Kedah, Perlis and Perak, it will result in even those without proper education become an inventor.

“Their ideas stand a bright chance of being commercialised later,” he told Bernama, adding that grassroots innovations are ideas generated by people who do not have the formal requirement to invent an idea or product.

Grassroots innovators can be found anywhere in the world, with their ideas designed in their own way of culture, heritage and business-purpose.

Anil said the Malaysian government must now render greater support for the Malaysian Innovation Foundation to discover and tap small ideas and mechanisms of non-urbanites and which major corporations would not venture into.

He also advised the foundation to emulate the National Innovation Foundation of India which introduced and nurtured innovation rights from the tender age in schools.

“Schools are not only the first place to acquire knowledge but also the place where future leaders and innovators emerge.

“So, why don’t we transform future innovators to become present innovators, and at the same time, save time in achieving a vision much earlier than having to wait 10 to 20 years,” Anil quipped.

He also said the Indian innovation foundation began with no government funding some 20 years ago.

“But today, we have discovered some 160,000 grassroots ideas and innovation from 545 districts.

“Many grassroots ideas have been commercialised and contributed a significant percentage to our Gross Domestic Product, annually,” Anil added.

buildship

October 18th, 2011, 09:17 AM

REFSA: Hutang negara mungkin cecah RM1 trillion
12:19PM Okt 18
Sekiranya hutang kerajaan persekutuan berkembang pada kadar RM50 bilion setahun, ia boleh mencecah RM1 trilion menjelang tahun 2020, kata badan pemikir bebas Pusat Penyelidikan Untuk Kemajuan Masyarakat (REFSA).

Senario yang menggerunkan itu dikemukakan semasa kajian REFSA mengenai Bajet 2012, yang memberi amaran bahawa impian menuju Wawasan 2020 boleh "berkecai" melainkan jika kerajaan berhemah dalam perbelanjaan kewangannya.

Defisit semasa negara berada pada RM437 bilion, yang menurut REFSA adalahlebih dua kali ganda bajet defisit RM217 bilion yang dilaporkan pada tahun 2004.

"Dengan kata lain, kerajaan telah menambahkan lebih banyak hutang pada enam setengah yang lalu sejak tahun 2004 berbanding dengan 47 tahun selepas Merdeka," petik laporannya itu.

Antara tahun 2007 dan 2011, defisit berkembang secara purata pada kadar kira-kira RM34 bilion setiap tahun.

Tetapi dengan andaian, defisit akan meningkatkan hutang tambahan sebanyak RM50 bilion setahun, Malaysia boleh menjangkakan jumlah hutang negara naik dua kali ganda lagi pada tahun 2020 menjadi RM1 trilion.

"Ini adalah 1 dengan 12 sifar di belakang - RM1, 000000000000," petik laporan itu.

Dengan mengandaikan kadar faedah sebanyak lima peratus setahun, laporan REFSA berkata, bayaran faedah sahaja akan menjadi RM50 bilion setahun.

"Ia adalah hampir keseluruhan kos projek MRT. Kami belum lagi memikirkan tentang bayaran balik hutang itu lagi, "kata laporan itu lagi.

ashraf abdullah

October 18th, 2011, 09:56 AM

del

nazrey

October 18th, 2011, 10:25 AM

EPF holds US$1.75b in global sukuk
Published: 2011/10/18
http://www.btimes.com.my/Current_News/BTIMES/articles/20111018125032/Article/index_html

Malaysia’s state-owned Employees Provident Fund increased holdings of global Islamic bonds to US$1.75 billion this year from US$650 million in October 2010, when it set up a program to invest in the debt, according to the head of treasury.

“We are also looking to increase our mandate to include the Islamic space in the region,” Wan Kamaruzaman Wan Ahmad, who is also general manager at the fund, said at an Islamic conference in Kuala Lumpur today, without elaborating.

EPF’s investment in Malaysian government and corporate bonds is expected to reach RM88 billion (US$28 billion) to RM90 billion this year, he said. Holdings totaled RM27 billion in 2006, Wan Kamaruzaman said. -- Bloomberg

nazrey

October 18th, 2011, 11:50 AM

nazrey

October 18th, 2011, 11:53 AM

KL’s edge in Islamic finance
By JOHN LOH Tuesday October 18, 2011
http://biz.thestar.com.my/news/story.asp?file=/2011/10/18/business/9715321&sec=business#13189281211301&if_height=490
German don: Malaysia’s comprehensive regulatory framework a competitive advantage

http://biz.thestar.com.my/archives/2011/10/18/business/p7-nienhaus.JPG

Nienhaus:
‘Malaysia has the necessary ingredients to be a hub for Islamic finance.’

KUALA LUMPUR: Malaysia's competitive advantage in Islamic finance is its comprehensive regulatory framework, according to a German economics professor.

“Malaysia has the necessary ingredients to be a hub for Islamic finance, such as its capital adequacy requirements, good governance and disclosure policies that are able to meet European financial standards,” said International Centre for Education in Islamic Finance (INCEIF) governing council member Prof Dr Volker Nienhaus.

“The German Bundesbank (central bank of Germany) has even sent its representatives to Malaysia's Securities Commission for training on Islamic finance.”

He said in comparison, the Gulf countries - the other major players in Islamic finance - have surplus liquidity but not capital adequacy. Their legal framework was also uncertain, he said. Nienhaus was speaking at a public lecture on Opportunities for Islamic Finance in the Arab Spring, Asian Summer and European Autumn, organised by INCEIF, Bank Negara (www.bnm.gov.my/)'s Islamic education arm.

However, Nienhaus cautioned against excessive government intervention in the growth and adoption of Islamic finance, citing the example of Pakistan which took a top-down approach and ended up creating a less-efficient replica of its previous financial system.

“It took them 10 years to reverse this, and now Pakistan maintains a dual financial system,” he said.

Nienhaus said the Arab spring in North Africa and the Middle East had opened up opportunities for the growth of Islamic finance in the region as its current financial system was deficient and did not provide support to the entrepreneurial middle class.

Its existing banks were mainly tied to the discredited elites and focused on trade financing, he said. “Once the political unrest dies down, there will be huge market potential in the Middle East, especially in areas like financing for new businesses and takaful for the young, growing population.”

On Asia's prospects, Nienhaus said although there were concerns the economic slowdown in Europe and the United States would have some spill-over effects in the region, its impact would likely be moderate.

“Much of the trade and growth in Asia is Asian growth, it is within Asia,” he said.

He also argued that the failure of the current global financial system, as seen in Europe and the US, has fostered a more open outlook toward alternative financial systems like Islamic finance.

“Something is clearly wrong with the credibility of the (mainstream) banking sector. Previously, stress tests failed only eight banks and we thought we were safe. Now, the latest news appears to say that almost all banks are bankrupt,” he said.

He said there were notable markets for Islamic finance in Europe owing to the sizeable Muslim populations there, including the United Kingdom (two million Muslims), France (five million), Germany (three million), and the largest in Russia (17 million), as well as smaller numbers in Luxembourg, Belgium and the Netherlands.

He added that each country however had varied approaches to Islamic finance, with some facilitating retail operations and others disregarding it completely.

nazrey

October 18th, 2011, 11:57 AM

Malaysia has 65% of global sukuk market
Friday June 10, 2011
http://biz.thestar.com.my/news/story.asp?file=/2011/6/10/business/8872971&sec=business

SINGAPORE: The global sukuk market recently crossed US$134bil in issuances with Malaysia leading the way with a 65% share followed by Middle East countries with 26% market share.

Bank Indonesia deputy governor Dr Halim Alamsyah said the market was “emerging” in various countries in the Middle East and Asia.

“However, the world sukuk market is dominated by short-term sukuk tenor which is 55%, while the long-term tenor (for example more than 10 years tenor) is only 20%,” he said in his keynote address at the 2nd Annual World Islamic Banking Conference here.

Halim said Indonesia’s sukuk market was also progressing, with a nominal amount of US$6.2bil as of May 2011 and an annual growth of 9.3% seen in 2010. — Bernama

Sukuk (Arabic: صكوك‎, plural of صك Sakk, "legal instrument, deed, check") is the Arabic name for financial certificates, but commonly refers to the Islamic equivalent of bonds. Since fixed income, interest bearing bonds are not permissible in Islam, Sukuk securities are structured to comply with the Islamic law and its investment principles, which prohibits the charging, or paying of interest. Financial assets that comply with the Islamic law can be classified in accordance with their tradability and non-tradability in the secondary markets.

>>>
EPF holds US$1.75b in global sukuk
Published: 2011/10/18
http://www.btimes.com.my/Current_News/BTIMES/articles/20111018125032/Article/index_html

Malaysia’s state-owned Employees Provident Fund increased holdings of global Islamic bonds to US$1.75 billion this year from US$650 million in October 2010, when it set up a program to invest in the debt, according to the head of treasury.

“We are also looking to increase our mandate to include the Islamic space in the region,” Wan Kamaruzaman Wan Ahmad, who is also general manager at the fund, said at an Islamic conference in Kuala Lumpur today, without elaborating.

EPF’s investment in Malaysian government and corporate bonds is expected to reach RM88 billion (US$28 billion) to RM90 billion this year, he said. Holdings totaled RM27 billion in 2006, Wan Kamaruzaman said. -- Bloomberg

daeng_jal

October 18th, 2011, 10:10 PM

agate8

October 19th, 2011, 09:35 AM

I think we can do our part. How about "them"? RM 1 million for 5 days visiting Kazakhstan?

buildship

October 19th, 2011, 09:47 AM

Then do your part..stop driving and burning subsidies fuel everywhere.reduce the usage of subsidies water,sugar,flour,electricity,beras and all..

The biggest problem here is malaysian get angry when they can't live a lifestyle beyond their mean

i will do my part to kick out the corrupted BN from malaysia:cheers:

XNeo

October 19th, 2011, 10:16 AM

dah utang banyak ada hati lagi tu nak naikkan gaji ahli parlimen masa belanjawan baru ni. kerja nya tak....turun padang malas.

ahli politik taik.

nazrey

October 19th, 2011, 12:33 PM

Japan assurance on support for Malaysia’s Vision 2020
Posted on October 14, 2011, Friday
http://www.theborneopost.com/2011/10/14/japan-assurance-on-support-for-malaysia’s-vision-2020/

PUTRAJAYA: Japan has expressed its desire to continue supporting Malaysia towards achieving developed nation status in line with Vision 2020, Malaysian Foreign Minister Datuk Seri Anifah Aman said yesterday.

He said the assurance was conveyed by Japanese Foreign Minister Koichiro Gemba at their meeting here.

Anifah said Japan also expressed interest to participate in various infrastructure projects in Malaysia, such as the smart community, water supply, sewerage and renewable energy projects where Japan’s expertise and advanced technology could be utilised.

“I briefed Foreign Minister Gemba on the various economic reforms being undertaken by the government towards achieving the targets of Vision 2020, including the New Economic Model (NEM), the Government Transformation Programme (GTP) and Economic Transformation Programme (ETP),” he said in a joint statement. — Bernama

demonstrates the commitment of the new Japanese government to enhance, expand and deepen its bilateral relations and cooperation with Malaysia, and both parties have agreed to continue to work closely on issues of mutual interest at the bilateral, regional and international levels.

He said Japan views Malaysia as one of the top priority partners in Southeast Asia and therefore looks forward to enhancing ties with Malaysia in a wide range of areas of cooperation.

“On my part, I gave my assurance to Foreign Minister Gemba that Malaysia would remain a reliable friend and partner of Japan in the region and the world. Malaysia would continue to be committed to strengthening and expanding the existing excellent relations with Japan,” he said.

Anifah said the significant contribution of Malaysia’s “Look East” policy to Malaysia-Japan relations was also discussed at the meeting, and both parties agreed that the 30th anniversary of the policy next year is worth celebrating since it is an important element in the development of Malaysia-Japan bilateral relations.

He said they also discussed the establishment of the Malaysia-Japan International Institute of Technology (MJIIT) in Malaysia which would immortalise Malaysia-Japan cooperation in the field of human resource development and capacity building, which augurs well for bilateral relations in the long term.

MJIIT, which offers four degree and post-graduate programmes to Malaysian students, began its session last month with an enrolment of 130 students who can pursue courses on Electronic Systems Engineering, Precision Mechanical Engineering, Green Technology and Environment, and Technology and Business Management.

Seven professors specially sent by the Japanese government help with the transfer of knowledge at MJIIT, which was set up on the initiative of the Malaysian and Japanese governments after the visit of Prime Minister Datuk Seri Najib Tun Razak to Japan in April last year.

Meanwhile, Gemba said Japan intends to closely collaborate with Malaysia within the frameworks of regional cooperation to contribute together to regional stability and prosperity.

“The key pillar of the foreign policy I am pursuing is to build a prosperous and stable order in the Asia-Pacific region underpinned by democratic values. I am confident that my visit to Malaysia is the first step toward realisation of the goal,” he said.

This is Gemba’s first official visit to Malaysia since he became the foreign minister on Sept 2.

nazrey

October 20th, 2011, 10:07 AM

Digital Malaysia to add RM75b by 2020
2011/10/20 By Farrah Naz Karim
http://www.nst.com.my/articles/2digi/Article/

Digital Malaysia to add RM75b by 2020

Prime Minister Datuk Seri Najib Razak talking to (from left) Deputy Prime Minister Tan Sri Muhyiddin Yassin, Multimedia Development Corporation chief executive officer Datuk Badlisham Ghazali, Science, Technology and Innovation Minister Datuk Seri Dr Maximus Ongkili and Higher Education Minister Datuk Seri Mohamed Khaled Nordin before the 23rd MSC Malaysia Implementation Council Meeting at Bagunan Perdana Putra in Putrajaya.
— Bernama picture
PUTRAJAYA: Malaysia will embark on a digital transformation programme, Digital Malaysia, which will rank as one of the key components in the country's transformation policy.

Prime Minister Datuk Seri Najib Razak said the initiative to transform the economy into a digital one followed other segments of the country's transformation plans, including the Government Transformation Plan, New Economic Model, Economic Transformation Programme as well as the Rural Transformation Programme and would complete the National Agenda leading to Vision 2020.

Najib said with the target set for Digital Malaysia to contribute RM75 billion to the gross national income by 2020, together with the RM93 billion to be generated from information, communication and technology initiatives as well as the estimated RM126 billion to be extracted from ICT projects under the GTP and ETP, the contribution by ICT initiatives to the country's GNI is targeted to reach RM294 billion by 2020.

Speaking at the conclusion of the 14th MSC Malaysia International Advisory (MIAP) panel here yesterday, Najib said Digital Malaysia, which would be spearheaded by Multimedia Development Corporation (MDeC) would emphasise on innovation as well as creativity and productivity as its two major thrusts. Malaysia, Najib said, hoped to increase its ICT contribution to the GNI, which is at 9.8 per cent to 17 per cent by 2020.

Najib, who is chair to the MIAP, said the meeting also discussed the need to unleash the entrepreneurial capacity in each individual as well as to ensure that the ecosystem and culture allowed for the flourishing of entrepreneurial skill and spirit in the country.

Members of the MIAP, he said, also discussed the need to ensure innovation and creative thinking skills were nurtured through the education system as well as encourage the young to become entrepreneurial. On other matters, Najib said Malaysia was looking at converting some 300 intellectual properties developed by local universities.

Earlier in his opening remarks, at the 23rd MSC Malaysia Implementation Council Meeting, also held here, Najib said it was undeniable that the next wave of economic growth would come from the knowledge-based economy, with digital technologies as a key driver.

Present at the meetings were Deputy Prime Minister Tan Sri Muhyiddin Yassin and Science Technology and Innovation Datuk Seri Dr Maximus Ongkili.

Caius the Shadow

October 21st, 2011, 01:55 PM

i will do my part to kick out the corrupted BN from malaysia:cheers:

I want to kick BN too but I can see that those PAS bastards will ruin my hardwork with their Hudud and 'I will go to heaven, u will go to hell' thingy. N i certainly dont want Nik Aziz or anyone from PAS to have high postion in the gov.

nazrey

October 21st, 2011, 02:02 PM

Thanks to PAS for making oppositin FAILED at all time :lol:

nazrey

October 21st, 2011, 02:14 PM

M'sia-India trade to hit US$10bil by year-end
Published: Friday October 21, 2011 MYT 4:36:00 PM
http://biz.thestar.com.my/news/story.asp?file=/2011/10/21/business/20111021164820&sec=business#13191992059371&if_height=365

KUALA LUMPUR: Malaysia-India bilateral trade is projected to hit US$10 billion by year-end, a senior official of the Indian High Commission said here today.

Aseem Mahajan, the Trade Counsellor at the commission, said between January and August this year, two-way trade rose by 36.3 per cent to US$8.351 billion vis-a-vis the same period last year.

He said the India-Malaysia Trade Agreement namely the India-Malaysia Comprehensive Economic Cooperation Agreement (IMCECA), which came into force on July 1, has benefited trade between Malaysia and India.

"(Bilateral) Trade is in Malaysia's favour, with electrical and electronics goods as the main exports from Malaysia," he said at the press conference on Intexpo, an exhibition of Indian textiles.

"India is focusing on its "Look East" policy and deepening with the Asean region," Mahajan said.

Synthetic & Rayon Textiles Export Promotion Council of India (SRTEPC) chairman Vinod Kumar Ladia said India is keen to establish a mutually beneficial relationship with Malaysia and other Asean countries especially in textiles.

The INTEXPO event, to be held from Nov 22 to 24 at the Matrade Exhibition and Convention Centre, will be an ideal platform to promote India's textiles with 80 of India's leading textile companies exhibiting their products, he said.

"INTEXPO 2011 is expected to attract US$100 million of export business over the three-day event," Ladia said.

RD Udeshi, president of India's largest private sector enterprise Reliance Industries Limited, said India has also invested in Malaysia's textile industry.

"Reliance's textile manufacturing facilities in Nilai and Melaka took Reliance's share of the global polyester market to over seven per cent," Udeshi said. - BERNAMA

nazrey

October 21st, 2011, 02:16 PM

Property investments in Cyberjaya at RM3bil this year
Friday October 21, 2011
http://biz.thestar.com.my/news/story.asp?file=/2011/10/21/business/9743752&sec=business#13191993602651&if_height=631

PETALING JAYA: Property investments in Cyberjaya have reached RM3.04bil this year after the IT-themed city sold 261.5ha valued at RM1.23bil, according to the landowner and developer Cyberview Sdn Bhd.

For next year, the company said in a statement, Cyberjaya had RM3.73bil developments in the pipeline. This would be achieved through further sales of enterprise, commercial, institutional and residential land.

Residential developers that entered Cyberjaya this year include UEM group, Mah Sing Group Bhd, OSK group, Villamas/Triental Land Sdn Bhd, Andaman Property Management, Country Heights Holdings Bhd, Laketown, and Tim Development.

Between Cyberjaya's inception in 1997 and now, it has racked up total investments of RM12.36bil as well as total sales value of RM3.64bil for 872.8ha.

These comprised enterprise, commercial, mixed development, residential, light industry and institutional land.

Residential investments amounted to RM2.42bil so far this year while enterprise development is RM517.6mil.

Cyberview also said it had been appointed the township's Cybercity manager, which will see it being responsible for promoting and branding Cyberjaya.

It will also facilitate the implementation of Multimedia Super Corridor initiatives within Cyberjaya.

daeng_jal

October 21st, 2011, 02:55 PM

i will do my part to kick out the corrupted BN from malaysia:cheers:

Yeahh..more subsidies n freebies for rakyat...let make more national debt..

ashraf abdullah

October 21st, 2011, 08:20 PM

subsidies are the most sensitive part to malaysians (other than manipulated version of ketuanan melayu etc)we actually broke but we are still demanding more n more.yeah..thanks to BN who had corrupted our people with subsidies until we were already too intoxicated with subsidies.and trust me, the oppositions will do exactly like the current gov did by supplying us freebies and free money if they can govern the country.

come on la..change our attitude first then ask the others to change.
nak makan best,kena la bayar mahal.

CoolFellas

October 21st, 2011, 09:41 PM

I want to kick BN too but I can see that those PAS bastards will ruin my hardwork with their Hudud and 'I will go to heaven, u will go to hell' thingy. N i certainly dont want Nik Aziz or anyone from PAS to have high postion in the gov.

Thanks to PAS for making oppositin FAILED at all time :lol:

Caius the Shadow, you don't need to use a such slurry word..if you don't like or hate others. And why so fear of Hudud Law if you are not commit any crimes? Unless you also doing bad things or support the criminals. :ohno:

Nazrey..I thought you are a Thai? Do you have a voting right in Malaysia? PAS already improved over the years and took over 3 states ( Kelantan and Kedah) and supposedly also Perak together with DAP. We'll see the next PRU13. Shall we? Waktu inilah mana yang 'kotor' tu kena di' BERSIH' kan..:lol:

I strongly do agree our people need to change our mentality, not always depend on the government to subsidize everything..thats included bumis who always thinking the government (BN) is a great Saviour. We need to work hard if want to get something, there is no short cut!

jani13

October 22nd, 2011, 02:01 AM

Please move this discussion to the appropriate thread :)

buildship

October 22nd, 2011, 03:50 AM

Yeahh..more subsidies n freebies for rakyat...let make more national debt..

yeah, you are the one who muka subsidy..if not, you wont need NEP:cheers:

constipation

October 22nd, 2011, 06:22 AM

yeah, you are the one who muka subsidy..if not, you wont need NEP:cheers:

OMG, u r misunderstood, he just being sarcastic:nuts: there is some particular thing which is out of our control n we just hoped the best for this country regardless whoever govern .Ok, anyway,lets back to topic:)

CoolFellas

October 22nd, 2011, 09:36 AM

2011 nearly the end...its mean 2020 only 8 years down the road..Hopefully Malaysia will achieve its target to be a developed nation by then. Otherwise, the government at that time has to extend the vision target deadline. God Bless Malaysia!

Fakhri Nor

October 22nd, 2011, 10:33 AM

daeng_jal

October 23rd, 2011, 04:00 AM

OMG, u r misunderstood, he just being sarcastic:nuts: there is some particular thing which is out of our control n we just hoped the best for this country regardless whoever govern .Ok, anyway,lets back to topic:)

Dubai has bhai dhabi.. Greece got mother EU to bail them out..who gonna bail us?

Would we get to 2020 without being sold to the highest bidder?

The current trend which both party racing to give more subsidies freebies and more mega project finance by more debt are trully disturbing

ashraf abdullah

October 23rd, 2011, 07:16 AM

constipation

October 23rd, 2011, 04:55 PM

Dubai has bhai dhabi.. Greece got mother EU to bail them out..who gonna bail us?

Would we get to 2020 without being sold to the highest bidder?

The current trend which both party racing to give more subsidies freebies and more mega project finance by more debt are trully disturbing

Argentina can survive after economic collapse in 2001,no body helping them, so can we. About the subsidies, i put faith on the current administration.The next GST tax that might be implement by current government soon or later will avoid us to hv same fate as Greece.Moreover,our EPU (economic planning unit) at putrajaya r doing good job to improve our economy, they r highly educated professionals(i believe).

buildship

October 23rd, 2011, 06:38 PM

dear admin, please delete or move this post to the other thread.i believe this nincompoop is very genius provocateur.i don't know what this news has anything to do with the vision 2020. in fact,it has no link whatsoever.

if what the blogger said is true (with his theory and figure shown), it surely will affect malaysia from achieving vision 2020, i dont understand how it wont relate to vision 2020.

Doesnt means you post every good news to malaysia means malaysia automatically will achieve vision 2020, be realistic and face the problem please, i believe you wont hide the problem beneath the carpet by just ignore the issue:cheers:

REFSA: Hutang negara mungkin cecah RM1 trillion
12:19PM Okt 18
Sekiranya hutang kerajaan persekutuan berkembang pada kadar RM50 bilion setahun, ia boleh mencecah RM1 trilion menjelang tahun 2020, kata badan pemikir bebas Pusat Penyelidikan Untuk Kemajuan Masyarakat (REFSA).

Senario yang menggerunkan itu dikemukakan semasa kajian REFSA mengenai Bajet 2012, yang memberi amaran bahawa impian menuju Wawasan 2020 boleh "berkecai" melainkan jika kerajaan berhemah dalam perbelanjaan kewangannya.

Defisit semasa negara berada pada RM437 bilion, yang menurut REFSA adalahlebih dua kali ganda bajet defisit RM217 bilion yang dilaporkan pada tahun 2004.

"Dengan kata lain, kerajaan telah menambahkan lebih banyak hutang pada enam setengah yang lalu sejak tahun 2004 berbanding dengan 47 tahun selepas Merdeka," petik laporannya itu.

Antara tahun 2007 dan 2011, defisit berkembang secara purata pada kadar kira-kira RM34 bilion setiap tahun.

Tetapi dengan andaian, defisit akan meningkatkan hutang tambahan sebanyak RM50 bilion setahun, Malaysia boleh menjangkakan jumlah hutang negara naik dua kali ganda lagi pada tahun 2020 menjadi RM1 trilion.

"Ini adalah 1 dengan 12 sifar di belakang - RM1, 000000000000," petik laporan itu.

Dengan mengandaikan kadar faedah sebanyak lima peratus setahun, laporan REFSA berkata, bayaran faedah sahaja akan menjadi RM50 bilion setahun.

"Ia adalah hampir keseluruhan kos projek MRT. Kami belum lagi memikirkan tentang bayaran balik hutang itu lagi, "kata laporan itu lagi.

patchay

October 23rd, 2011, 07:58 PM

I don't think Malaysia will go bankrupt because we have high savings rate.

Well, the Executive Govt (specifically the ruling party) may be running out of money (GE is coming), thus they pictured as though the Nation is going down with them. This is quite incorrect.

However, if the household+consumer debt and budget deficit continues to widen, then we are obviously DOOMED.

But the Govt have flush of cash and liquid assets in Petronas, PNB, EPF, Khazanah, Tabung Haji, KWAP, our major banks, etc. that the ruling Govt of the day can decide to use them all to pay/write-off all the Debts.

If that happens, we are MORE DOOMED.

daeng_jal

October 24th, 2011, 06:34 AM

^^ assuming global warming didn't get us 1st:lol:

if what the blogger said is true (with his theory and figure shown), it surely will affect malaysia from achieving vision 2020, i dont understand how it wont relate to vision 2020.

Doesnt means you post every good news to malaysia means malaysia automatically will achieve vision 2020, be realistic and face the problem please, i believe you wont hide the problem beneath the carpet by just ignore the issue:cheers:

he's complain that u put up no link to your sources lah

a big NO NO in this forum
(or academic writting)

buildship

October 24th, 2011, 06:44 AM

^^ assuming global warming didn't get us 1st:lol:

he's complain that u put up no link to your sources lah

a big NO NO in this forum
(or academic writting)

here u go!:cheers:

http://greenboc.blogspot.com/2011/10/rakyat-tanggung-beban-hutang-negara.html

ashraf abdullah

October 24th, 2011, 03:44 PM

waw...nowadays..anyone can blog~yeah..that's how easily malaysians can be provoked,kan?

buildship

October 24th, 2011, 03:50 PM

waw...nowadays..anyone can blog~yeah..that's how easily malaysians can be provoked,kan?

you talk about papagomo?:lol:

Skyprince

October 25th, 2011, 09:18 AM

patchay

October 25th, 2011, 09:53 AM

Now our per-capita GDP is already USD15,000 right ? ( interms of buying power ).

To become a developed country ( economically/financially ) the buying power should be around...well everyone has different interpretation.... but USD 22,000-USD23,000 seems the border.

Based on current growth rate I think we can achieve that in 8-9 years..

In real/nominal term we need to raise from USD8,300 currently to USD 11,000 kan ?

In terms of GDP per capita (PPP) is around US$25,000-30,000 minimum given today's inflationary settings. In terms of GDP per capita (Nom), we are around US$8,423 and we need to reach at least US$15,000.

Our GNI per capita is currently and officially at US$7,900 (although I think we reached US$8k+). According to World Bank, GNI per capita must be around US$15,000 to reach "High Income" status.

15k is the same amount being targetted by Uncle Idris Jala and his gang in Pemandu.

buildship

October 25th, 2011, 10:08 AM

RM770,000 untuk bekalkan elektrik kepada satu rumah
Nigel Aw
2:38PM Okt 25, 2011
Tenaga Nasional Berhad (TNB) membelanjakan RM770,000 untuk membekalkan tenaga elektrik kepada sebuah rumah di bawah Projek Bekalan Elektrik Luar Bandar (BELB), dedah Laporan Ketua Audit Negara.

Menurut laporan projek BELB, dana itu sepatutnya bagi membekalkan elektrik kepada 17 buah rumah di sebuah kampung di Indera Mahkota, Pahang.

Bagaimanapun lawatan audit ke tapak berkenaan mendapati hanya terdapat sebuah unit rumah di kampung itu.

Dalam penjelasannya, TNB mendakwa ketika projek itu diluluskan, 17 rumah sedang dalam proses dibina tetapi akhirnya hanya sebuah yang disiapkan.

“Pada pendapat audit kelulusan projek BELB di kawasan ini tidak memenuhi kriteria yang ditetapkan iaitu jenis rumah di kawasan berkenaan hendaklah merupakan rumah kekal dan didiami serta sesuai dibuat pendawaian elektrik.

“Ini mengakinbatkan kerajaan mengeluarkan perbelanjaan berjumlah RM0.77 juta bagi membekalkan elektrik untuk sebuah rumah sahaja di kampung ini,” kata laporan itu.

Laporan Audit 2010 juga mendedahkan bahawa TNB meluluskan projek bernilai RM65,193 bagi membekalkan elektrik kepada lima buah rumah terbengkalai di sebuah kampung di Bera, Pahang.

Sehubungan itu, laporan berkenaan menilaikan prestasi projek BELB sebagai tidak memuaskan dengan hanya 43.2 peratus atau 16 daripada 37 projek yang disiapkan pada tahun lalu.

nazrey

October 25th, 2011, 11:38 AM

Malaysia's debt rises to RM407bil
By EUGENE MAHALINGAM Tuesday October 25, 2011
http://biz.thestar.com.my/news/story.asp?file=/2011/10/25/business/9765246&sec=business

http://biz.thestar.com.my/archives/2011/10/25/business/p1-debtcht.JPG

PETALING JAYA: Malaysia's public debt level rose 12.3% to RM407.11bil in 2010 from RM362.39bil a year earlier, according to the Auditor-General's Report 2010.

National debt grew 12% to RM390.36bil in 2010 from RM348.60bil a year earlier while foreign debt grew 21.5% to RM16.75bil from RM13.79bil in the previous corresponding period, said the report released yesterday.

In 2010, unresolved public debt both at the national and foreign level grew by RM41.76bil and RM2.96bil respectively compared with 2009.

“The national debt level totalling RM390.36bil accounts for 95.9% of the Federal Government's total debt,” auditor-general Tan Sri Ambrin Buang said in the report.

He pointed out that the ratio of the Federal Government's debt to gross domestic product at the end of 2010 was 53.1%, which was over 50% for the second year in a row.

The national debt level is governed by various laws that impose a debt ceiling for the Government. Under Act 637 of the Loan (Local) Act 1959, and Act 275 of the Government Investment Act 1983, it is stated that the combined loans raised domestically should not exceed a ceiling of 55% of the nation's GDP.

Meanwhile, Act 403 of the External Loans Act 1963 limits external loan exposure to RM35bil.

The report also revealed that in 2010, the Government received revenue totalling RM159.65bil, which was an increase of RM1.01bil (0.6%) compared with RM158.64bil in 2009.

Accounts receivable for 2010 stood at RM20.37bil while the Government approved allocation amounting to RM149.06bil for operating expenditure. “However, the said allocation was insufficient to cover the expenses amounting to RM151.63bil,” said the report.

The report also revealed the implementation of a rating system based on an accountability index.

“Through this rating system, marks will be given for the compliance if regulations of six main elements in financial management, namely management controls, budgetary controls, receipt controls, expenditure controls, management of trust funds and deposits as well as management of assets and stores.

“The federal ministries and departments rated as excellent become a role model and this would motivate others to diligently improve and enhance their financial management,” it said.

nazrey

October 25th, 2011, 11:47 AM

M'sia on track to digital economy by 2020, says Nielsen
Published: Monday October 24, 2011 MYT 2:37:00 PM
http://biz.thestar.com.my/news/story.asp?file=/2011/10/24/business/20111024144842&sec=business

KUALA LUMPUR: Malaysia is on the right path towards a digital economy by 2020 amid strong demand for new technology, says Nielsen, a leading global information and analytics provider.

There is strong interest for new technology as Malaysians are ready for the changes as shown in the Malaysian Digital Consumer Report 2011, said Luca Griseri, Nielsen Malaysia director of customised research, client services.

Malaysia's digital transformation programme is going to change consumers' behaviour, he told a press conference after the launch of the Malaysian Digital Consumer Report 2011 here today.

Griseri said the report revealed that the take-up rate for smartphones and tablet computers is gaining significant momentum in Malaysia, and therefore the industry must ensure easy access for these devices.

"Smartphone ownership is expected to double in the next 12 months to reach 89 per cent from 48 per cent currently, while tablet computers is likely to reach 75 per cent from 18 per cent presently," he said.

To ensure a successful digital transformation programme, Griseri said telco players and the government need good cooperation to deliver the infrastructure and network capacity to enable Malaysians to enjoy new techology and devices.

Griseri said Malaysia is still lagging behind Singapore and Thailand in terms of Internet penetration and usage of new technology due to lack of infrastructure and geographical issues such as Malaysia being surrounded by forests.

He said online advertising spending will continue to increase given the rising demand for tablet computers and smartphones, as well as consumers spending more hours online.

The report showed Malaysians spend nearly 20 hours online per week.

Griseri said it is important for traditional media such as television and radio to integrate with online media to ensure a successful digital industry.

The Malaysian Digital Consumer Report 2011 examines Internet and techology trends in the usage patterns and future uptake in the Malaysian market.

Conducted in June and July 2011, a total of 1,321 interviews were completed among Malaysian consumers aged 15 and above. - BERNAMA

nazrey

October 25th, 2011, 11:55 AM

AG's Report: RM5bil cash reserves used to meet revenue shortfall
Updated: Monday October 24, 2011 MYT 7:40:17 PM
http://thestar.com.my/news/story.asp?file=/2011/10/24/nation/20111024134036&sec=nation

PETALING JAYA: The Federal Government's source of funds for last year totalled RM519.99bil but its expenditure was at RM525.93bil, according to the Auditor-General's Report 2010.

Cash was used to overcome the RM5.95bil shortfall, it said.

As a result, cash reserves last year dropped from RM27.5bil in January to RM21.57 in December.

The report also said that the ratio of the Federal Government's debt to the Gross Domestic Product (GDP) at the end of last year was at 53.1%, which was more than 50% for two consecutive years.

The country's national debt last year stood at RM407.1bil, an increase from RM362.39bil in 2009.

However, tax collections increased last year by RM1.01bil to RM159.65bil compared to 2009. :cheers:

nazrey

October 25th, 2011, 11:59 AM

Transformation plans to modernise rural areas
Monday October 24, 2011
http://thestar.com.my/news/story.asp?file=/2011/10/24/nation/9730414&sec=nation

KUALA LUMPUR: Rural settlements will turn into modern towns that are expected to attract investors and at the same time create job opportunities for the people next year.

Rural and Regional Development Minister Datuk Seri Mohd Shafie Apdal said the development efforts, however, would not compromise the values and culture of the rural society.

He said the development plans would be carried out through a unified implementation through various related government agencies that would change the rural socioeconomic landscape as the country headed towards achieving high-income nation status by 2020.

Prime Minister Datuk Seri Najib Tun Razak said the development of rural areas complemented the country’s overall transformation programme where it would attract investors from the private sector, provide more job opportunities and economic activities while also encouraging the younger generation to return to their respective hometowns to look for business prospects.

Deputy Rural and Regional Development Minister Datuk Hasan Malek said the development for the rural areas would follow with the implementation of basic amenities, such as the construction of roads, clean treated water and electricity supply, which comes under the GTP’s Rural Basic Infrastructure NKRA initiative.

nazrey

October 25th, 2011, 12:01 PM

Budget to lighten cost of living
By NOEL CHANG Monday October 24, 2011
http://thestar.com.my/news/story.asp?file=/2011/10/24/nation/9730367&sec=nation

http://thestar.com.my/archives/2011/10/24/nation/n_11pm.jpg

Budget for the people: Najib and Muhyiddin showing the Budget 2012 book
after the tabling at Parliament in Kuala Lumpur recently. Looking on is second
Finance Minister Datuk Seri Ahmad Husni Hanadzlah (right).

KUALA LUMPUR: Deputy Prime Minister Tan Sri Muhyiddin Yassin said Budget 2012, which was tabled by Prime Minister Datuk Seri Najib Tun Razak, is one of the best laid out national plans yet.

He said the Budget touched the lives of the people whether they were farmers, fishermen, retirees or civil servants as it addressed the cost of living issue that affected everyone.

“The Budget was created with careful consideration of the country’s current economic climate,” Muhyiddin said at Parliament after the Budget announcement recently.

He said an example in addressing the issue of inflation at the micro level was the distribution of RM500 to families whose household income were below RM3,000 a month.

Muhyiddin said the Government had allocated RM1.8bil for some 3.4 million households.

The Government, through the Budget, has announced several initiatives under the Government Transformation Programme (GTP)’s Cost of Living (COL) National Key Results Area (NKRA) to reduce the burden of soaring living expenses of the people.

Muhyiddin is the lead minister for the COL NKRA.

The Deputy Prime Minister said one of COL NKRA initiatives was the 1Malaysia store (KR1M), which sold over 200 essential goods for as low as 40% of prices found in other outlets.

The KR1M stores will soon be available nationwide.

At the same time, he also said more 1Malaysia Clinics would be opened across the country by the end of the year.

There were other initiatives announced in the Budget aimed at alleviating the cost of living, such as tax relief given to those with private retirement schemes and senior citizens aged 60 years and above would be exempted from outpatient registration fees from government hospitals and health clinics.

The Employees Provident Fund (EPF) contribution from employers is set to increase from 12% to 13% as well.

The Government will also introduce more initiatives in the coming months to address the needs of the people.

nazrey

October 25th, 2011, 12:19 PM

Malaysia eyes world's top 10 in business ease of use
2011/10/25
http://www.nst.com.my/nst/articles/Malaysiaeyesworld_stop10inbusinesseaseofuse/Article/

KUALA LUMPUR: Malaysia aims to be among the world's top 10 economies for ease of doing business, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said today.

The World Bank in “World Bank Doing Business Report 2012” reported that Malaysia had achieved significant improvement when it was ranked 18th from 23rd position this year.

“We have seen improvements. Our wish is to be in the top 10,” Mustapa said at the launch of KL Metropolis here today.

The minister said the evaluation was based on various factors including infrastructure such as transportation.
He said the government has provided a comprehensive and conducive environment for foreign investors to do their business activities in Malaysia.

It is hoped that with KL Metropolis, Malaysia would be able to strengthen its ranking and attract more foreign investors to expand their businesses in Malaysia, he said.

Mustapa also said there was demand for space for exhibition centres in Malaysia. “There is demand, if you talk to KLCC (Kuala Lumpur Convention Centre) and PWTC (Putra World Trade Centre). Demand created can be supply-driven. If you can create supply, you can promote and create demand,” he said.

He said currently Malaysia has four international exhibition centres, including PWTC, the largest, and KLCC.

“To host world-class events, we need to have international centres. Exhibition is big business. We are catching up and we can do more,” he added.

Meanwhile, the new MATRADE Centre, which spans one million square feet, comprises three floors of exhibition space with 11 large-sized exhibition halls, a multi-purpose hall, meeting rooms and conference rooms, a press conference room supported by business centres as well as VIP rooms.

The centre is expected to be completed in 2014. - BERNAMA

buildship

October 25th, 2011, 12:59 PM

Air berkuman dibekalkan ke 10 sekolah
Aidila Razak
4:33PM Okt 25, 2011
Laporan Ketua Audit Negara 2101 mendapati bahawa bekalan air terawat ke kantin sepuluh sekolah rendah mengandungi tahap bakteria dan logam yang tidak selamat untuk diminum.

Penemuan ini berdasarkan ujian air tawar, yang dijalankan pasukan audit ke atas air yang telah dirawat dan air paip ke kantin di 13 buah sekolah.

Air yang digunakan di kantin SK Kg Kudong, Segamat; SK Sejagong, Batu Pahat didapati mengandungi kehadiran bakteria seperti Total Coliform dan E Coli yang tinggi.

“Pihak KKM memanadang berat pelanggaran paarmeter bakteria dalam air terawat yang dikesan dalam kajian ini kerana kehadiran bakteria seperti Total Coliform dan E Coli dalam air minum boleh menyebabkan wabak penyakit bawaan air seperti kolera, tifoid dan hepatitis A sekiranya air yang tercemar diminum secara terus dan berterusan,” petik laporan itu.

Air yang dianggap selamat untuk diminum tidak seharusnya mempunyai sebarang Coliform dan E Coli manakala paras 6.5 hingga 9 pada skala pH.

Sekolah-sekolah lain yang disenaraikan mempunyai tahap 'terlalu tinggi' bakteria yang boleh menyebabkan keracunan makanan, adalah:
SRJK (T) Ladang Lambak, Kluang
SMK Alor Pasir, Tanah Merah
SK Lata Rek, Kuala Krai
SK Juara, Rompin
SK Luat, Lenggong
Keputusan dari SK Benggol Petai, Pasir Mas dan SK Kuala Koyan, Kuala Lipis juga menunjukkan tahap 'terlalu tinggi’ untuk kiraan bakteria Coliform.

nazrey

October 25th, 2011, 01:02 PM

Felda (www.feldaholdings.com/) said to have hired banks for IPO
Published: 2011/10/25
http://www.btimes.com.my/Current_News/BTIMES/articles/feldipo/Article/index_html#ixzz1bn3lMKbI

KUALA LUMPUR: Malaysian plantation company Felda Global Group has hired bankers for an initial public offering (IPO) that would raise as much as US$2 billion (RM6.26 billion) next year, sources with knowledge of the deal said.

The IPO would raise RM5 billion to RM6 billion, two sources said, making it the biggest since the US$4.1 billion (RM12.83 billion) IPO of Petronas Chemicals Group Bhd a year ago.

A source with direct knowledge of the matter said yesterday that Felda has hired CIMB Investment Bank, Maybank Investment Bank and Morgan Stanley to be joint global co-ordinators, while JPMorgan and Deutsche Bank are joint bookrunners.

Deutsche and Morgan Stanley declined to comment while Maybank IB and CIMB could not provide an immediate comment. JP Morgan could not be reached for comment.

Proceeds from the IPO will go towards expanding its core businesses, Felda Global's managing director Datuk Sabri Ahmad said in a recent interview.

Maxis Bhd's relisting in 2009 is the second-largest IPO in Malaysian corporate history raising US$3.3 billion (RM10.33 billion).

Despite choppy economic conditions, Malaysian companies are continuing to proceed with their IPOs. Two other firms, Gas Malaysia Bhd and Pavilion REIT, are pushing ahead their IPOs worth US$238.2 million (RM745.57 million) and US$222.4 million (RM696.11 million) respectively.

Sabri said that the goal of the listing was to create a multinational firm similar to the likes of US-based Archer-Daniels-Midland Co and Cargill Inc.

However, he said that land set aside for the settlers will not be included in the IPO. - Reuters

nazrey

October 26th, 2011, 09:06 AM

Najib to raise message on global movement of moderates
2011/10/25 Nuraina Samad reporting from Perth
http://www.nst.com.my/nst/articles/Najibtoraisemessageonglobalmovementofmoderates/Article/

PERTH: Prime Minister Datuk Seri Najib Razak will not let an opportunity go in promoting his message for a global movement of moderates to an international audience.

This initative by the Prime Minister was first unveiled in his speech at the United Nations General Assembly in New York in September last year.

Then he attended the Asia-Europe Summit of Heads of State and Government (ASEM 8) in Brussels, Belgium and delivered his message that being moderate is a pillar of Islam and that greater understanding between the Muslim community and the rest of the world can be fostered.

Najib will bring this same message for the building of “Global Movement of the Moderates” to the Commonwealth Heads of Government Meeting here, said Malaysian High Commissioner to Australia Datuk Salman Ahmad today (Tuesday Oct 25).

The four-day biennial meeting begins Friday at the Perth Convention and Exhibition Centre at the city’s central busi ness district.

Najib, accompanied by his wife Datin Seri Rosmah Mansor, is expected to arrive in this western Australian city, tomorrow (Wednesday Oct 26) evening.

Salman, at a media briefing, said that the Prime Minister will raise his call for a global movement of moderates during the retreat at the State Reception Centre in Kings Park.

After the official opening of CHOGM, a formal executive session is held after which the leaders will head for a private retreat.

It is during the retreat – held in an informal environment – that some of the most important decisions are made.

“I have repeatedly stated that we the moderates must be able to take the centre stage of the world again – let our voices of moderation be heard. Such a movement would reclaim the agenda for peace and pragmatism in today’s world,” the Prime Minister had written in his website on his return from UNGA last year.

In his speeches on the global movement of moderates, Najib had untiringly offered Malaysia as an example of a successful multi-racial, multi-cultural and democratic nation.

During the three-day Langkawi International Dialogue (LID) in Putrajaya in June, the Prime Minister shared his thoughts on the Global Movement of Moderates with leaders from Africa and the Caribbean.

While here, the Prime Minister is scheduled to deliver a keynote address, "Building Infrastructure for the 21st Century" at the Commonwealth Business Forum at the Burswood Entertainment Complex here.

He has also schedule bilateral meetings with several Commonwealth leaders including British Prime Minister David Cameron and Sri Lankan President Mahinda Rajapakse.

Sri Lanka will be host at the next CHOGM in 2013.

Najib joins 52 other leaders at the conference hosted for the third time by Australia, making it the first nation to host CHOGM three times - Melbourne in October 1981 and Coolum in March 2002.

The theme this year is "Building National Resilience, Building Global Resilience".

terencemark

October 26th, 2011, 09:10 AM

such a wonderful thing it will remind us how to achieved our aim about 2020.and it also remind us about our past what we have done,what we are doing and what we should have to do to make complete this achievement.

nazrey

October 26th, 2011, 10:36 AM

buildship

October 26th, 2011, 11:30 AM

Giatmara ‘bought’ sugar for RM170 per kilo
The Malaysian Insider – Tue, Oct 25, 2011

By Shannon Teoh
KUALA LUMPUR, Oct 25 — The Majlis Amanah Rakyat (Mara) training centre paid RM25,500 for 150kg of sugar before realising it had made a mistake, according to the government.
The Treasury said in its explanation to the Auditor-General’s findings made public yesterday that the Giatmara centre had mistakenly paid RM170 per kg instead of RM1.70 per kg for sugar for a poverty eradication programme last year.
The reply, found in the 2010 audit report, said that “the mistake was not detected ... resulting in overpayment of RM25,245.”
It added that after Giatmara sent written requests to JD Works Enterprise to reclaim the surplus payment, the supplier “agreed to return the difference by instalments.”
JD Works Enterprise paid RM1,000 a month from July to September 2011, leaving a balance of RM22,245.
Mara management then ordered Giatmara chairman Datuk Shahiruddin Ab Moin to investigate the matter on September 23, 2011.
It was only then that JD Works issued a cheque for the remainder.

http://my.news.yahoo.com/giatmara-bought-sugar-for-rm170-per-kilo-081835704.html

rizalhakim

October 26th, 2011, 12:54 PM

^^ apa kaitan artikelni dgn countdown 2020? attention seeker btollah ko ni dude....

daeng_jal

October 26th, 2011, 01:03 PM

Caius the Shadow

October 26th, 2011, 02:28 PM

daeng_jal

October 26th, 2011, 05:44 PM

Ermm what's up with all these sugar fuss? you want some sugar honey? I can give u some if u want.. :nuts:

Galaxy nexus ice cream sandwich boleh

patchay

October 26th, 2011, 05:48 PM

Best is if we can stick to the relevance of this thread.

nazrey

October 27th, 2011, 04:49 AM

Asean Railways delegates visit Scomi's facility
Published: 2011/10/27
http://www.btimes.com.my/Current_News/BTIMES/articles/degate/Article/

KUALA LUMPUR: Delegates of the 33rd Asean Railways CEO's Conference recently visited Scomi Engineering Bhd's state-of-the-art engineering, technology and innovation centre.

The conference, hosted in Kuala Lumpur from October 19-21 by KTM Bhd, is a knowledge-sharing platform for railway operators, owners and regulators to improve the rail services in the region.

The conference delegation consists of seven member nations from Thailand, the Philippines, Myanmar, Vietnam, Laos, Indonesia and Malaysia.

A technical visit to Scomi's rail manufacturing facility was the highlight of the conference programme as it features Malaysia's ability to design, manufacture, build and implement an internationally recognised urban transportation system.

"We are honoured and grateful to be given the opportunity to showcase our Malaysian technology and to share our experiences with KTM and the conference participants," Scomi group's president of rail Suhaimi Yaacob said in a statement.

Commissioner of Indonesian Railways Drs Yahya Ombara said: "We are impressed with Scomi's state-of-the-art rail manufacturing facility and there is such a facility here in Malaysia."

KTM president Dr Aminuddin Adnan said Scomi's continued success in the rail industry has inspired KTM to showcase Scomi's capabilities in developing a Malaysian product that has achieved global recognition.

"This visit to Scomi's rail manufacturing facility will further solidify Malaysia as a hub for rail technology development," Aminuddin added.
http://www.scomirail.com.my/inner.htm

http://www.scomigroup.com.my/GUI/images/logo.gif

Scomi Rail is a leading provider of urban transit systems. It is one of only two integrated monorail system providers in the world to offer end-to-end solutions including the design, fabrication and integration of the monorail rolling stock (the travelling component in a rail system) and related electro-mechanical systems.

buildship

October 27th, 2011, 05:02 AM

Ermm what's up with all these sugar fuss? you want some sugar honey? I can give u some if u want.. :nuts:

every cases like this when accumulated shows how bad the it being govern...and hence will affect the future if not rectifed.:cheers:

nazrey

October 27th, 2011, 05:36 AM

Making the best of KL city
By MARTIN CARVALHO Thursday October 27, 2011
http://thestar.com.my/news/story.asp?file=/2011/10/27/nation/9771732&sec=nation

http://thestar.com.my/archives/2011/10/27/nation/n_20kll.jpg

Big project: Mustapa (second from right) being shown the model of the KL
Metropolis development. With him are (from right) Naza Group of Companies
joint group executive chairman Nasarudin and Datuk Wira SM Faisa, Dewan
Negara president Tan Sri Abu Zahar Ujang and Naza TTDI executive deputy
chairman and group managing director SM Faliq.

KUALA LUMPUR: The Government wants Kuala Lumpur to be in the top 10 best cities to live in once the Greater KL initiative has been launched.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed said The Economist Intelligence Unit's (EIU) 2011 report ranked Kuala Lumpur as the 79th most liveable city among 140 cities worldwide.

“Our vision is to be in the top ten,” he told reporters after launching Naza TTDI's KL Metropolis project here on Tuesday.

Mustapa was representing Prime Minister Datuk Seri Najib Tun Razak at the event.

The top 10 cities in the EIU ranking are Melbourne, Vienna, Vancouver, Toronto, Calgary, Sydney, Helsinki, Perth and Adelaide (tied at eighth) and Auckland.

Mustapa said the Metropolis project, slated to cost RM15bil, augured well for government efforts to transform the capital via the Greater KL initiative.

He said its first phase would see the construction of the Matrade Centre covering 5.3ha that would include a convention and exhibition centre, shopping mall, commercial and residential units.

“The new centre will allow the capital to position itself as a premier venue for international events and exhibitions,” he added.

Earlier, in his speech read by Mustapa, the Prime Minister said the KL Metropolis project was another example of the joint effort between the Government and private sector to develop the nation's economy.

Najib said he wanted a firm commitment from Naza TTDI to ensure KL Metropolis played an important role in fulfilling the Government's aspiration that Greater KL becomes the nation's economic engine besides realising the vision to transform Kuala Lumpur into an international standard landmark city.

“I hope KL Metropolis will attract multinationals and foreign investors from diverse sectors,” he said.

By incorporating smart development features, green buildings with sustainable designs, Najib hoped the KL Metropolis development would pave the way for other similar development projects in the country.

KL remains 78th most-liveable city on EIU scale
By Boo Su-Lyn August 31, 2011
http://www.themalaysianinsider.com/malaysia/article/kl-remains-78th-most-liveable-city-on-eiu-scale/

KUALA LUMPUR, Aug 31 — Malaysia’s capital city stayed at the 78th spot in a ranking of the world’s most liveable cities by international business publication The Economist. Melbourne knocked Vancouver off its top perch that it had held for almost a decade, according to the Economist Intelligence Unit’s (EIU) August 2011 ranking released yesterday.

Singapore was the top Southeast Asian city, coming at 51st in the survey that assessed 140 cities based on their stability, healthcare, culture and environment, education and infrastructure.

Kuala Lumpur beat other cities in Southeast Asia, such as Bandar Seri Begawan at 101, Bangkok (102), Manila (105), Hanoi (122), Ho Chi Minh City (124), Phnom Penh (127) and 139th-placed Dhaka.

No Asian cities made it into the top 10, but Osaka and Tokyo of Japan snagged the 12th and 18th spots respectively, while Hong Kong (31), Singapore (51), Seoul (58) and Taipei (61) sat in the top tier of the best living conditions, said EIU in a press statement yesterday.

The top 10 cities in descending order were Melbourne, Vienna, Vancouver, Toronto, Calgary, Sydney, Helsinki, Perth and Adelaide tied at number 8, and Auckland.

Kuala Lumpur also did not make the list in a report released by PwC last June predicting the trajectory of 26 select cities, based on a wide range of criteria such as intellectual capital, transportation, health, economic clout, liveability and lifestyle assets.

The Malaysian capital also dropped eight spots to 48 in a 2010 ranking of the world’s most global cities by international management consulting firm AT Kearney.

Kuala Lumpur remained stagnant at 75th in the Mercer study of best places to live from 2006-09, but improved slightly to 74 in the 2010 survey.

Among initiatives planned for Kuala Lumpur under the Economic Transformation Programme include a multi-billion ringgit Mass Rapid Transit system to enhance public transportation, rehabilitation of the city’s polluted rivers, more green space, a high-speed rail link to Singapore, improved pedestrian linkages , and a more vibrant and seamless shopping belt.

It is hoped that the better conditions would help attract top talent live in the city, whose population is expected to increase to 2.2 million in 2020 from 1.67 million currently, based on the 2010 census.

The city’s attractiveness, however, is hampered by an absence of world-class universities, relatively low salaries, lack of major cultural and outdoor attractions, lack of orderliness and poor maintenance, low levels of sophistication, creeping urban sprawl, crime, unhygienic conditions and traffic congestion.

PwC Malaysia executive director Andrew Chan Yik Hong said last June that Kuala Lumpur needed to improve its hard and soft infrastructure to compete with global commerce and culture capitals.

buildship

October 28th, 2011, 08:15 AM

EPF loaned RM55bil without gov't guarantee backing
http://www.malaysiakini.com/news/179848
Aidila Razak
1:43PM Oct 28, 2011

The Employees Provident Fund (EPF) has approved loans worth an astounding RM55.10 billion not backed by government guarantees.

However, the Auditor General’s Report 2010 found, only one of the debtors, who obtained a RM21.3 billion loan, is qualified to obtain a loan without such a guarantee.

Of the remaining 12 debtors, all of whom are not named in the report, two were exempted from producing a government guarantee as they had high credit ratings.

The loan of the two parties total RM7.3 billion.

The report also reported that in addition, EPF had also given out 15 loans worth a total RM35.69 billion as of the Dec 31, 2010.

The audit found that of the 15 loans made, two were made to non-government entities despite having government guarantees. The loans are worth RM5 billion and RM1.24 billion respectively.

However, EPF responded saying that one of the debtors is an incorporated body of the Finance Ministry, while a government agency has a 66 percent stake in the second debtor company.

The EPF Act 1991 allows it to extend credit to the federal and state governments, as well as to companies incorporated under the Companies Act 1965, or set up with the Finance Ministry’s written permission.

The report said that as of the end of 2010, EPF had given out a total RM95.79 billion, earning RM2.52 billion in interest payments for the year.

RM4 bil loan skipped procedure

The year before, EPF was found to have not followed procedure for the approval of a loan worth RM4 billion for a government housing loan scheme.

The application was not tabled at the investment management committee meeting, before being approved on July 3, 2009.

“EPF said this was because the investment proposal was presented directly to the investment panel as an urgent decision was required,” it read.

The audit nevertheless found that EPF was “satisfactory” in its investment and loan activities, and had acted in accordance with Section 26 of the EPF Act.

“However, it should ensure that all department operation manuals for investment and loans are finalised and implemented.

“EPF must also ensure that all loan applications are tabled in the investment management committee meetings before it is passed by the (investment) panel,” it advised.

:ohno:

ashraf abdullah

October 28th, 2011, 03:53 PM

i quite doubt KL can make to the top 20 within 10 years of time frame.too good to be true?

ashraf abdullah

October 28th, 2011, 04:02 PM

nazrey

October 29th, 2011, 04:48 AM

Smart City-Smart Village to contribute RM95bil to economy by 2020
Saturday October 29, 2011
http://biz.thestar.com.my/news/story.asp?file=/2011/10/29/business/9799438&sec=business

KUALA LUMPUR: Smart City-Smart Village, the second high-impact project to be implemented through Global Science and Innovation Academy Council (GSIAC), is expected to contribute RM95bil to the national economy by 2020.

It was also expected to increase opportunities in the service industry and create employment across the value chain for 420,000 people, GSIAC said in a statement.

“The Smart City-Smart Village project aims at balancing development in the urban and rural areas, focusing on the use of green technology and information and communications technology (ICT).

“The goal of the initiative is to improve everything from energy use to healthcare, education, traffic and shopping by doing it ‘smart’ with the help of ICT and green technology,” it added.

GSIAC yesterday hosted a Smart Communities Workshop together with the Malaysia Industry-Government Group for High Technology (MIGHT) and New York Academy Of Sciences to gather inputs for the implementation of the Smart City-Smart Village projects in Malaysia with other key stakeholders.

MIGHT president and chief executive officer Mohd Yusoff Sulaiman said “green field” and “brown field” projects had been identified for the Smart City programme.

“In a green field project we find there’ll be a very good opportunity to develop new cities like the Iskandar region and cities near the Greater Kuala Lumpur area.

“In a brown field project such as the present city of Kuala Lumpur, we see a need to also see beyond the elements of infrastructure such as social development, culture and the value we can add to the existing city development to raise the quality of life,” he added. — Bernama

daeng_jal

October 29th, 2011, 02:01 PM

buildship

October 29th, 2011, 04:26 PM

Just a question.

Uncle ali say that there is almost 1km of fiber optics to 1km of road already completed in melaka..the same maybe applied to the whole nation.and it owned and build by diff company such as TM n maxis

Why no one offered me high speed internet yet??

because maxis still giving priority to klang valley. TM wise due to its sub con having manpower and technical issue, if i not mistaken

Dean_14

October 29th, 2011, 08:58 PM

guy4versa4

October 30th, 2011, 02:24 PM

PM looking towards chogm2019,i hope we will get it yo enhance 2020vision

nazrey

November 1st, 2011, 06:14 AM

Accor expanding network in Malaysia
By Kamarul YunusPublished: 2011/11/01
http://www.btimes.com.my/Current_News/BTIMES/articles/acomas/Article/#ixzz1bIAgkMze

http://www.btimes.com.my/articles/acomas/pix_topright

PUTRAJAYA: France's Accor, the largest operator of hotels in Asia Pacific, is expanding its hotel network, with 10 new hotels slated to open in Malaysia by the end of 2014.

Vice-president for Malaysia, Indonesia and Singapore, Gerard Guillouet, said work on some of the new hotels has already begun and they should be receiving guests within next year.

"These 10 new hotels will significantly add to Accor's presence in Malaysia, where we are already operating four hotels.

"The success of the existing hotels has encouraged new owners and developers in Accor's abilities and provides us the confidence to aggressively expand its network of hotels in Malaysia," Guillouet told Business Times in an interview here yesterday.

Currently, Accor operates and manages four hotels, namely the Pullman Putrajaya Lakeside, the Pullman Kuching, the Novotel Kuala Lumpur City Centre and the Novotel Kota Kinabalu 1Borneo.

Of the 10 new hotels, Guillouet said two will be categorised as Pullman or upscale status, another two as Novotel (mid-scale) and six Ibis Styles (economy).

"The Pullman will be located in Bangsar and Port Dickson, while the Novotel in Malacca and Klang, and Ibis Styles in Fraser Business Park and Cheras in Kuala Lumpur, Johor Baru, Kota Kinabalu, Lahad Datu and Ipoh," he said.

With the completion of the 10 new hotels plus the existing four, he said Accor will be able to offer some 3,700 rooms to customers.

Guillouet did not discount the possibility of Accor opening up hotels in Langkawi, Penang and east coast of Peninsular Malaysia.

"There are lots of beautiful places that we can explore in those areas. That may be included in our next expansion plan.

"In fact, we have not been focusing very much on Malaysia in the past 10 years, but we think now is the right time (to focus on Malaysia)," he said.

However, Guillouet noted that one of the challenges that the local hotel industry faces is staff shortage.

"It's difficult for us to find a staff for our four existing hotels, but I do not know the actual reason for the shortage.

"There are now 1,200 employees at our four hotels and when the 10 new hotels are completed, that would create another 2,500 jobs," he added.

Meanwhile, Accor is launching its "Destination Malaysia website" to boost the profile of Malaysia as a destination and raise awareness on the country's many attractions and sites.

Tourism Minister Datuk Seri Dr Ng Yen Yen is scheduled to officiate at the launch of the website here today.

Guillouet said Accor is excited to provide a platform for online visitors and customers to learn more about its network in Malaysia as a tourism information portal function, highlighting many of the country's attractions.

Accor launched its ecommerce platform, Accorhotels.com, in 2011, and has invested significantly in various communications tools and channels such as paid search, online banner display advertising, mobile applications, email marketing platform and more recently, social media, to reach out to existing and potential customers.

http://www.btimes.com.my/articles/acomas/pix_bottom

nazrey

November 1st, 2011, 06:15 AM

Asean mulls making military equipment
Tuesday November 1, 2011
http://thestar.com.my/news/story.asp?file=/2011/11/1/nation/9810919&sec=nation

SINGAPORE: Asean countries are looking at producing their own military equipment for the region in an effort to reduce operational costs, Defence Minister Datuk Seri Dr Ahmad Zahid Hamidi said.

He said Asean countries had spent about RM25bil last year to buy military equipment.

“If we can produce our own (military) equipment, we can save a large amount of money,” he told reporters after meeting Singapore Defence Minister Dr Ng Eng Hen and Prime Minister Lee Hsien Loong here yesterday.

Dr Zahid said Malaysia hoped to become the regional hub for the production of military equipment.

“We submitted a proposal to this effect at the Asean Defence Ministers Meeting in Bali recently.

“Under the proposal, Asean members will produce military equipment component parts before they are sent to Malaysia to be assembled,” he said, adding that the idea was being considered by Asean countries.

On the Five Power Defence Arrangement (FPDA) meeting in Singapore, Dr Zahid said the member countries had sent about 4,000 military personnel to the island in conjunction with the group’s 40th anniversary celebration.

FPDA comprises Australia, New Zealand, Britain, Singapore and Malaysia.
On the Auditor-General’s Report 2010, which said the ministry had overspent by RM6.5mil, Dr Zahid said the ministry had not exceeded the allocated budget.

“The over-spending was due to foreign currency fluctuations,” he added.

nazrey

November 1st, 2011, 06:16 AM

We are ready for worst floods in decades, says Muhyiddin
Tuesday November 1, 2011
http://thestar.com.my/news/story.asp?file=/2011/11/1/nation/9811427&sec=nation

SEPANG: The Government is more prepared this year to face the floods which are expected to be the worst in decades, said Tan Sri Muhyiddin Yassin.

The Deputy Prime Minister said the Government was not taking any chances as weather reports indicated that the impending rains could be devastating.

“The weather reports say that it (the floods) could be worse than usual. There could be stronger winds and more rain.

“With all these reports, our preparations must also be better,” he said at KLIA’s Bunga Raya Complex here yesterday.

Muhyiddin was speaking to reporters after seeing off Prime Minister Datuk Seri Najib Tun Razak and his wife Datin Seri Rosmah Mansor who left for Saudi Arabia to perform the haj.

Muhyiddin said the National Security Council would be holding a meeting soon with departments and agencies involved in flood operations. He said the meeting, among others, would be to update the agencies and departments on the situation and preparations particularly logistics.

“We are not taking any chances and would like to see where we can further improve,’’ he said.

nazrey

November 1st, 2011, 06:44 AM

New incentives to make M'sia O&G international hub
Tuesday November 1, 2011
http://biz.thestar.com.my/news/story.asp?file=/2011/11/1/business/9812169&sec=business

PETALING JAYA: The Labuan Financial Services Authority (www.lfsa.gov.my/) (Labuan FSA) and the Malaysia Petroleum Resources Corp (http://etp.pemandu.gov.my/Progress_Update-@-Malaysia_Petroleum_Resources_Corp.aspx) (MPRC) have launched a slew of incentives to attract oil and gas traders to Malaysia.

The key incentives, aimed at turning Malaysia into an international hub for the oil and gas industry, was offered to the Labuan International Trading Commodity Company (LITC) under the Global Incentives for Trading (Gift) Programme by MPRC and Labuan FSA.

Those incentives include a flat corporate tax rate of 3% of chargeable income, 100% exemption on director fees paid to non-Malaysian director, 50% exemption on gross employment income for non-Malaysian professional traders and others in managerial capacity of the LITC companies, and other various tax exemptions and fiscal incentives.

Companies with an annual turnover of US$100mil, business spending of US$3mil a year, employ a minimum of three professionals and engage local support services could qualify for the new incentives.

“The outlook for the national oil and gas sector is certainly promising with new resource discoveries and Malaysia is projected to contribute up to 11.6% of oil supply for Asia Pacific,” Labuan FSA director-general Ahmad Hizzad Baharuddin said at the launch.

Global demand for natural gas is predicted to rise by 41%, with more than 80% of this demand expected to come from users in the Asia-Pacific region.

He said Malaysia is well-positioned to capture the value creation from the rising demand for oil and its related products.

The Gift programme offers a set of incentives through the establishment of the LITC, which seeks to enable companies and financial institutions to tap on the huge trading markets of petroleum, petroleum-related products as well as selected commodities, including minerals and carbon credits.

“While Malaysia has thriving up-stream activities in the oil and gas sector, more activities could be initiated at the various levels in the business value chain, particularly in the trading of petroleum and its related products,” he said.

Ahmad Hizzad said several of the largest oil trading hubs are located in non-oil producing countries such as London and Geneva, where billions of trade transactions are flowing through these centres.

“This offers a huge potential for Malaysia to tap on the oil trading market, as it would not only generate revenue for the country, but would also increase the pool of expertise and talent, and improve the transfer of technology in the Malaysia,” he said.

Present at the launch, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the Gift programme encourages global petroleum trading companies to use Malaysia as a platform to enter the Asia-Pacific markets.

“Investing in Malaysia will give investors immediate access to more than 3.3 billion customers in a region which is experiencing rapid economic growth of more than five per cent annually,” he said.

Fifteen more oil and gas companies are expected to join the Gift programme, MPRC president/chief executive officer Dr Emir Mavani said after handing over trading licences to Petronas, Dialog Group Bhd, YTL Power International, Vitol and BB Energy.

nazrey

November 1st, 2011, 06:57 AM

M'sia set to woo more investors with corporate governance blueprint
Published: Monday October 31, 2011 MYT 3:11:00 PM
http://biz.thestar.com.my/news/story.asp?file=/2011/10/31/business/20111031152259&sec=business

KUALA LUMPUR: Malaysia is expected to be a leading destination for investors with the implementation of the corporate governance blueprint early next year, said Malaysian Institute of Corporate Governance vice-president Margaret Chin.

She said investors are looking at a country with the most sophisticated corporate governance framework. "With the implementation of the blueprint, investors will feel safe as their assets are protected all the time in many ways.

"We also have good people to implement the blueprint and certainly if we do it very fast, we will be ahead to attract more foreign direct investments to our country," she told reporters on the sidelines of the institute's workshop entitled "Scrutinising Financial Statement Fraud and Detection of Red Flag For Directors and Officers of PLCs and Government Regulatory Agencies," here today.

The blueprint, launched by Second Finance Minister Datuk Seri Ahmad Husni Mohamad Hanadzlah on July 8, provides the action plan to raise the standard of corporate governance in Malaysia by strengthening self and market discipline and promoting greater internalisation of the culture of good governance.

It focuses on six connected themes of the corporate governance ecosystem namely shareholder rights, the roles of institutional investors, boards, gatekeepers and influencers, disclosure and transparency as well as public and private enforcement.

Attended by 150 directors, the seminar is focused on enhancing participants' understanding and knowledge of fraud schemes and creating awareness as well as detecting and recognising the red flag well in advance to prevent a disaster.

She said to avoid fraud from occurring, directors must give sufficient attention to a whistleblower who will come forward to expose fraudulent acts in a company.

"One major initiative to avoid fraud is whistleblowing, without information from a whistleblower you won't have exposure on such big cases like the Enron scandal," she added.

A whistleblower is a person who tells the public or someone in authority about alleged dishonest or illegal activities (misconduct) occurring in a government department, a public or private organisation, or a company. - BERNAMA

nazrey

November 1st, 2011, 06:58 AM

Market of transforming GLCs goes up to RM312bil
Published: Monday October 31, 2011 MYT 4:06:00 PM
http://biz.thestar.com.my/news/story.asp?file=/2011/10/31/business/20111031161821&sec=business

KUALA LUMPUR: The market of government linked companies (GLCs) undergoing the GLC Transformation Programme (GLCT) has gone up to RM312 billion, says Deputy Finance Minister Datuk Donald Lim Siang Chai.

The total collective returns to shareholders of this group of GLCs have also gone up by an annual 14 per cent as of October 14 this year since the GLCT was initiated in May 14, 2004.

“This rise in returns for the group is also up by 1.5 per cent when compared with companies not within the group,” he said in his reply to a question from Dr Dzulkefly Ahmad (PAS-Kuala Selangor) at the Dewan Rakyat here today.

Lim said a total of four companies in the group also saw a rise in their key perfomance index (KPI) by 72 per cent last year compared with 64 per cent in 2009.

However, several GLCs also recorded a drop in their financial performances due to external factors not within their control such as higher oil and raw materal prices, he said.

These GLCs have taken various measures to face these problems including joining forces with their competing companies and the private sector as well as replanning their market sector.

Replying to an additional question from Dr Dzulkefly, Lim said that in order to avoid the problem of “overcrowding” in the domestic market, GLCs with potential have been advised to venture into larger overseas markets.

“Malaysia's population is only 28 million compared with Asean's 600 million, and such a big market will provide our GLCs a wider market. We are advising them to not only look at Asean but also markets like China.”

To a question from Datuk Idris Haron (BN-Tangga Batu), Lim said the foreign consultant appointed to helm the GLCT had helped to implement the programme well and had successfully raised the GLCs' businesses.

“We had looked at expertise when appointing the CEO and the directors of the GLCs, and from time time, we will continue to appoint experts and many more talents from outside the country to serve our GLCs,” he added. - BERNAMA

nazrey

November 1st, 2011, 08:07 AM

RM15.9 billion allocated for petrol and diesel subsidies this year
2011/11/01
http://www.nst.com.my/nst/articles/RM15_9billionallocatedforpetrolanddieselsubsidiesthisyear/Article/

KUALA LUMPUR: The government has allocated RM15.9bil for petrol and diesel subsidies this year to control the price and reduce burden on the people.
Deputy Finance Minister Datuk Donald Lim Siang Chai told Dewan Rakyat today that government spending on petrol and diesel subsidies last year amounted RM9.6bil.

He was replying to a question by Datuk Bung Mokhtar Radin (BN-Kinabatangan) who wanted to know the actual amount of petrol and diesel subsidies borne by the government.

Lim said the government is always concerned with the the people's welfare but at the same time has to address its financial capability to give the subsidies.

"As such, the subsidies must be distributed carefully to ensure that only those in need benefit from them," he added.

Restructuring of petrol and diesel subsidies which saw reduction of RM0.05 per litre twice last year saved more than RM1.7bil in subsidies. -- BERNAMA

nazrey

November 1st, 2011, 08:08 AM

Export of Malaysia's commodities and commodities-based products to surpass RM113 billion
2011/11/01
http://www.nst.com.my/nst/articles/ExportofMalaysia_scommoditiesandcommodities-basedproductstosurpassRM113billion/Article/

PUCHONG: The total export of Malaysia's commodities and commodities-based products in 2011 is expected to increase from RM113 billion, last year, said Deputy Minister of Plantation Industries and Commodities, Datuk Hamzah Zainudin.

He said the total exports will grow in tandem with the competitive price of the Malaysian commodities and an increasing demand for its commodities-based products, worldwide.

"From January to August this year, total exports stood at RM93.4 billion, compared to the RM73.4 billion recorded for the same period last year.

"Malaysia has the competitive edge in terms of pricing, variety of commodities and commodities-based products.

"Due to this, Malaysia's total exports can surely do better than what was registered last year," he said after launching the commemoration of the successful mandatory implementation of the B5 fuel programme in the central region, here today.

Hamzah said palm oil and palm oil-based products, as well as rubber and rubber-based products, continued to be the main driver of exports, with a contribution worth RM54.86 billion and RM21.66 billion for the first eight months of this year, respectively.

He added that cocoa and cocoa-based products registered a growth in exports to RM2.822 billion for the first eight months compared with RM2.738 billion, last year.

Meanwhile, he said only the timber and timber-based products sub-sectors exports dwindled slightly, but the demand was always there.

"Malaysia has a variety of commodities-based products and this enables the demand for the products and raw commodities to remain stable. This automatically increases the export and benefits the country.

"The timber and timber-based products sub-sectors registered RM13.234 billion from January-August this year, against the RM13.946 billion recorded for the same period last year," he added.

Tobacco and pepper contributed RM646.39 million and RM154.54 million for the first eight months of this year against the RM701.83 million and RM119.67 million respectively for the same period of 2010, Hamzah said.

"The decrease in tobacco export is a result of an intended effort by the government," he said. -- BERNAMA

guy4versa4

November 1st, 2011, 11:17 AM

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nazrey

November 2nd, 2011, 07:20 AM

Najib unveils 4 ETP dimensions to realise Greater KL goals
Tuesday, 25 October 2011 16:59
http://www.theedgemalaysia.com/political-news/195196-najib-unveils-4-etp-dimensions-to-realise-greater-kl-goals.html

KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak on Tuesday, Oct 25 unveiled four dimensions identified in the Economic Transformation Programme to realise the Greater KL/Klang Valley aspiration.

The Greater KL/Klang Valley project has a vision to attain the status of the world's top 20 cities enjoying sustainable economic growth.

Najib said the first dimension -- Greater KL/Klang Valley as a Magnet -- is to attract more dynamic multinational companies to establish their global or regional headquarters at Greater KL/Klang Valley.

The second dimension -- Greater KL/Klang Valley Connect -- is to have a regional network to develop the transportation system to link Greater KL/Klang Valley and also develop a transportation network in Kuala Lumpur city by implementing the high capacity Mass Rapit Transit (MRT).

The third dimension -- Greater KL/Klang Valley New Places -- is to identify high potential and attractive destinations in Greater KL/Klang Valley to be upgraded to improve liveability for the people and to woo tourists to visit Greater KL/Klang Valley.

The fourth dimension -- Greater Kl/Klang Valley Enhanced Services -- is to ensure the divide between basic services is given attention to improve liveable in the city and boost the tourism sector.

"We have set the target to be the world's top 20 liveable cities by 2020," he said in his speech at the launch of KL Metropolis.

The text of his speech was read out by International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

Najib said projects and major initiatives planned under the 10th Malaysia Plan towards transforming Greater KL into a world-class city include the Kuala Lumpur International Financial Centre (KLIFD), Sungai Besi Airport redevelopment, Sungai Buloh Township development and Malaysia Truly Asia Centre.

Najib said he wanted a firm commitment from Naza TTDI to ensure KL Metropolis played an important role in fulfilling the government's aspiration that Greater KL becomes the nation's economic engine besides realising the vision to transform Kuala Lumpur into an international standard landmark city.

With its strategic location, KL Metropolis would serve as an ideal extension to Kuala Lumpur City, he said.

"I understand that KL Metropolis will have a hub for retail and cultural activities, office space, housing and a spanking new exhibition centre of Malaysia External Trade Development Corporation (Matrade) and an iconic landmark.

"I hope KL Metropolis will attract multinationals and foreign investors from diverse sectors," he said.

By incorporating smart development features, green buildings with sustainable designs, Najib hoped KL Metropolis development would pave the way for other development projects in the country. - Bernama

Billionaire Ross' IAC enters Malaysia
Published: 2011/11/02
http://www.btimes.com.my/Current_News/BTIMES/articles/20111102093052/Article/index_html

International Automotive Components Group, the auto-parts maker owned by billionaire Wilbur Ross, said it is expanding in Asia through joint ventures with a Malaysian supplier in its home country and in Thailand.

IAC will own 60 percent of a venture in Thailand with APM Automotive Holdings Bhd, while in Malaysia, IAC will hold a 40 percent stake, Ross’s company said yesterday in a statement. IAC and APM said they will design, engineer and manufacture instrument and door panels, floor consoles, flooring and acoustics, package trays and rocker panels for global automakers and domestic companies in the region.

“IAC considers the ASEAN region to be very important,” Jim Kamsickas president of IAC North America and Asia, said in the statement. “APM and IAC share similar visions for business, along with core competencies and experience in automotive interiors, comprehensive manufacturing capability and commitment to providing exceptional customer satisfaction.”

Ross assembled IAC through 14 takeovers starting in 2006. IAC, which makes instrument displays, door panels and headliners, had sales of about US$3.75 billion in 2010, 6 percent of it in Asia. The company employs about 22,000 people in 16 countries. It had net income of US$25 million last year and US$3 million in this year’s first half, according to a registration statement Luxembourg-based IAC filed with the U.S. Securities and Exchange commission.

In September, IAC delayed a planned initial public offering of its stock until at least January because of market turmoil in the U.S. and Europe, two people familiar with the matter said last month.

IAC’s North American headquarters are in Southfield, Michigan. Jens Hohnel, president of the Europe division, is co- chief executive officer with Kamsickas. -- Bloomberg

nazrey

November 2nd, 2011, 07:22 AM

GIFT to contribute RM30m in GNI by 2020
Published: 2011/11/02
http://www.btimes.com.my/Current_News/BTIMES/articles/20111101185043/Article/#ixzz1cWSXBYd3

KUALA LUMPUR: The Global Incentives For Trading (GIFT) programme, which was launched Monday, is projecting a RM300 million contribution in gross national income by year 2020.

GIFT programme is established to encourage global petroleum trading companies to use Malaysia as a platform to enter Asia Pacific region market. This is part of the outcome initiated in the Economic Transformation Programme.

"This programme gives an opportunity to investors to extend and extract greater value from the oil and gas industry," said Minister for International Trade and Industry Datuk Seri Mustapha Mohamed at the launch.

"I am happy with the work that Malaysia Petroleum Resources Corporation (MPRC), which is mandated to run GIFT programme, and Labuan Financial Services Authority have put together," he said.

"This programme will certainly contribute to the success of Malaysia's aspiration to be the Asia Pacific hub for oil and gas services in this region," Mustapha adds.

On Monday, five companies namely Petronas, Dialog Group Bhd, YTL Power International Bhd , UK-based BB Energy and Rotterdam group, Vitol Trading, were awarded a trading license each.

MPRC president and chief executive officer Dr Mohd Emir Mavani said by next year he expects at least 15 more companies to be given the trading license.

"Most of these companies would be foreign companies attracted by tax break and other incentives offered under GIFT programme.

Malaysia has the advantage for its competitive pricing against our counterpart in Singapore," he said.

The Southeast Asian country has been trying to lure new energy investments in the lucrative oil and gas sector.

Malaysia has 106 marginal oil fields, with 580 million barrels of oil and the government recently announced plans to tap into the wells.

nazrey

November 2nd, 2011, 07:24 AM

PayPal global ops centre in PJ
By Cheryl Yvonne AchuPublished: 2011/11/02
http://www.btimes.com.my/Current_News/BTIMES/articles/e-Pal/Article/#ixzz1cWSgCKwk

http://www.btimes.com.my/articles/e-Pal/pix_middle

PETALING JAYA: PayPal, the eBay-owned online payment system, is expanding its presence in Asia by opening a new global operations centre here, where it plans to hire as many as 500 people by the end of 2013.

The centre, which will offer customer service and support in English to PayPal's customers across Asia, will also provide risk and financial services operations for PayPal's business globally.

Its senior vice-president of global operations John McCabe said Pay-Pal is offering opportunities for lo-cal talent to expand their skills and grow with the company.

"People are the most important asset and we are making a significant investment here in terms of hiring local talent, and providing them extensive training to better serve our customers around the world," he said.

McCabe, in his speech earlier, said the company chose Malaysia because of its strategic location, excellent infrastructure and highly talented multi-lingual workers.

To date, the company has about 200 staff on site.

PayPal has global operation centres in Berlin, Shanghai, Sao Paulo, Dublin, and Chandler and Omaha in the US.

PayPal has more than 103 million active accounts in 190 markets and 25 currencies around the world that enable e-commerce transactions.

Meanwhile, International Trade and Industry Deputy Minister Datuk Mukhriz Mahathir said the government is always looking to enhance and simplify trade for businesses in Malaysia, especially for small- and medium-sized enterprises (SMEs), and gobal market players like eBay and a payment system like PayPal's basically facilitate trade.

"I urge local businesses and SMEs to quickly adopt a multi-channel retail strategy, by exploring new growth and expansion approaches including utilisation of new technologies," he said.

Also present were MDec chief executive officer Datuk Badlisham Ghazali and PayPal's senior vice-president for Asia Pacific Rupert Keeley.

nazrey

November 2nd, 2011, 07:25 AM

PKFZ draws RM1.4b investments
By Presenna NambiarPublished: 2011/11/02
http://www.btimes.com.my/Current_News/BTIMES/articles/pkad/Article/#ixzz1cWTA1Jaq

PULAU INDAH: Some RM1.39 billion investments have been committed to the Port Klang Free Zone (PKFZ) to date.

Of the RM1.39 billion, all but RM46 million had been realised, PKFZ chief executive officer Chia Kon Leong said.

Chia said about 23 per cent of its 298.4ha open land had been leased out, while 75 per cent or 304 units of its light industrial units (LIUs) had been taken up.

"We are being very selective with our choice of investors because at the end of the day, we want to meet the objectives of PKFZ, which is incremental cargo generation," he said.

Vacant land is on a 30-year-lease basis while LIUs are rented out for three years.

Chia and Port Klang Authority (PKA) chairman Datuk Teh Kim Poo yesterday witnessed the groundbreaking ceremony for CWT Ltd's new warehousing and logistics facility to be located at PKFZ.

Headquartered and listed on the Singapore Stock Exchange, CWT is an integrated logistics solutions provider for the commodities, chemical and petrochemical, marine, oil and gas, defence and industrial sectors with a global network.

CWT will invest RM70 million to RM80 million over its three phases of development.

It plans to have a 500,000 sq ft warehousing facility in PKFZ eventually.

The first phase will consist of the construction of 110,000 sq ft of warehousing space and be operational by the second quarter of 2012.

CWT Ltd group chief executive officer Loi Pok Yen said the economic uncertainties prevalent in the market made it a good time to invest in warehousing facilities.

He said while other logistics areas such as shipping may be adversely affected by economic uncertainties, conversely this scenario will see the requirement for storage increase as manufacturers and retailers stock more prudently to capitalise on sudden surges in demand.

Meanwhile, Teh endorsed the decision by the PKA board, then led by Datuk Lee Hwa Beng, to not sue its previous board of directors involved in the PKFZ cost overrun scandal.

"If there is a case for investigation, we invite any party to do it, but how do we (PKA) prove that there was malpractice on their (ex-board of directors) side?" he asked.

It was reported by a business daily in March that five of seven board members had voted against taking action on the previous board.

This was despite its lawyers advising such action to be taken.

nazrey

November 2nd, 2011, 07:32 AM

Michael Kors to open his KL boutique today
Wednesday November 2, 2011
http://thestar.com.my/news/story.asp?file=/2011/11/2/nation/9817559&sec=nation

http://starstorage.blob.core.windows.net/archives/2011/11/2/nation/n_19kor.jpg

Ever-growing brand: Kors’ high-end line has attracted many,
including Hollywood celebrities.

KUALA LUMPUR: Fans of fashion designer Michael Kors will no doubt be excited that the man himself will be in Kuala Lumpur today.

The American whose high-end line is favoured by Hollywood celebrities such as Gwyneth Paltrow, Cameron Diaz and Sandra Bullock is here to launch the Michael Kors boutique in Pavilion Kuala Lumpur.

The brand makes its debut in Malaysia through a licensing agreement between Kors and luxury goods retailer Valiram Group.

Kors, 51, will participate in a ribbon-cutting ceremony at the store.

“I knew instantly that Pavilion KL would be a perfect fit for the Michael Kors brand,” said Kors in a press statement.

“The vibrant energy of the Bukit Bintang district makes it such an exciting home for my first store in Malaysia.”

Ashvin Valiram, executive director of Valiram Group, added: “Michael Kors is an ever-growing brand with a great global presence. We are pleased to bring in the first Michael Kors duplex flagship store to Malaysia and offer women in this part of the world a new, exciting brand to jazz up their wardrobes.”

Created in 1981 in New York City, the Michael Kors organisation has stores located in New York, Beverly Hills, Palm Beach, Chicago, London, Milan, Paris, Munich, Tokyo, Seoul and Dubai.

Kors is also one of the judges on the popular reality TV series Project Runway.

nazrey

November 2nd, 2011, 07:38 AM

ETP draws in RM10bil worth of investments
By Cecilia Kok Wednesday November 2, 2011
http://biz.thestar.com.my/news/story.asp?file=/2011/11/2/business/9819409&sec=business

http://biz.thestar.com.my/archives/2011/11/2/business/p4-jala.JPG

Jala:
‘We now have 97 Entry Point Projects which are in various stages of implementation.’

KUALA LUMPUR: The Economic Transformation Programme (ETP) marked its first anniversary with some impressive results after having realised year-to-date RM10bil worth of investments, or 64% of the RM15bil committed for 2011.
According to the Minister in the Prime Minister's Department and chief executive officer of the Performance Management and Delivery Unit (Pemandu) Datuk Seri Idris Jala, the country is already seeing positive progress after just 12 months into the launch of the ETP, with the Entry Point Projects (EPPs), as outlined under the initiative, advancing at an encouraging pace.

“A total of 70 out of the 131 EPPs, or 53%, have taken off. As some EPPs have multiple projects, we now have 97 projects which are in various stages of implementation,” Jala said at a media briefing in conjunction with the first anniversary of the ETP.

The ETP was launched by Prime Minister Datuk Seri Najib Tun Razak on Oct 25 last year, as a comprehensive initiative to propel Malaysia's economy into high-income status by 2020.

“There are two keys that we need to realise our aspiration to become a high-income nation - focus and competitiveness,” Jala reiterated. “We have to be absolutely focused on the areas where we think we can make it; we cannot be doing everything under the sun, otherwise we will just be an average nation.”

Under the 10th Malaysia Plan, the Government has identified 12 National Key Economic Areas (NKEAs) that have great potential of generating high income for the country. These include oil and gas, palm oil and related products, financial services, wholesale and retail, tourism, information and communications technology (ICT), education services, electrical and electronic, business services, private healthcare, agriculture and Greater Kuala Lumpur.

“By being focused on the 12 key growth areas, the Malaysian private sector's confidence in the local economy has increased,” Jala said, pointing to the fact that private investments during the first six months of 2011 had registered a growth of 23.4% to RM51.2bil, or 62% of the RM83bil targeted for the year.

Investments from the private sector had also outstripped that of the public sector during the period in review.

Other ETP's achievements during the first half of the year included having generated a gross national income of RM288bil, or 58% of the RM494bil targeted for the year, and created 344,000 jobs, or 50% of the 684,000 targeted for the year.

“ETP is not just about projects. It is also about strategic reforms as we have highlighted in the six SRIs (Strategic Reform Initiatives) of our programme,” Jala said.

The six SRIs, which represented the cross-cutting policy changes that Pemandu announced in July, were aimed at boosting Malaysia's competitiveness in a highly competitive world.

Improvements are already forthcoming with Malaysia's ranking improving in both the 2012 World Bank Report on Doing Business and World Economic Forum's Global Competitiveness Report 2011, indicating increasing foreign investor confidence in the country's economy.

Notwithstanding the ongoing global economic uncertainties, which could affect Malaysia's economy in the year ahead, Jala said as long as the country remained focused on its key growth areas and ensured competitiveness, it would be on track to becoming a high-income nation by 2020.

nazrey

November 2nd, 2011, 07:39 AM

Zeti: Bank Negara to strike a balance between economic growth and inflation
Wednesday November 2, 2011
http://biz.thestar.com.my/news/story.asp?file=/2011/11/2/business/9819291&sec=business

http://biz.thestar.com.my/archives/2011/11/2/business/latestzeti.JPG

Zeti: ‘We do not want to undermine our future prospects of growth.’ –
Bernama(pic shows Zeti speaking at the conference yesterday)

KUALA LUMPUR: Bank Negara aimed to achieve sustainable growth in the medium term, said governor Tan Sri Dr Zeti Akhtar Aziz.

“We look at both the growth and inflation risks, and because the conditions are highly dynamic, we have to make a very careful assessment. We do not want to undermine our future prospects of growth, and high inflation undermines future growth,” she said on the sidelines of the Asian Central Bank's Watchers Conference yesterday.

“But we also do not want growth policies that are for the moment. They must be sustainable,” she said.

Malaysia's third quarter showed some positive indicators such as consumption demand, government implementation of some projects and financing, she said, adding that the central bank would have to see to what extent the improvements were whether it was more than 4.5% or closer to 5%.

Bank Negara is due to release Malaysia's third-quarter gross domestic product numbers on Nov 18.

On Asia's growth projections, Zeti said although it was expected to be lower than 6% or 7% on average, the region still possessed a high degree of resilience.

“Of course, we are highly open in terms of our economies and are therefore affected by the developments in Europe and the United States. But unlike previously, the extent to which we are affected is considerably less.”

She cited Asia's strong domestic economies and greater inter-regional linkages as factors underpinning the region.

“Most Asian economies have been prudent in managing their finances and they are not over-leveraged. In the private sector, both consumers and manufacturers are not over-leveraged and neither are the governments, which give them fiscal flexibility to promote demand.”

At the conference, a panel comprising bankers and academicians emphasised its confidence in Asia, saying the tables had turned between the East and the West.

“Europe is now knocking at the door of Asia, not to feed it opium, as it did in the past, but to ask for help to solve their financial woes,” said London School of Economics emeritus professor of economics Lord Meghdad Desai.

He said although capitalism was pioneered in the West, it had forgotten how to practise it, unlike its Asian counterparts which had stayed prudent.

“A formula of high savings and hard work is the only way for Europe to grow, and it has to learn that sooner or later,” he told the conference.

Standard Chartered Bank head of research (West) Marios Maratheftis called Asia a source of “growth, stability, liquidity, and leadership”.

“We think Asia is currently is in a supercycle and will thus lead global growth for the next 20 years.”

He added that Asia was undergoing an “industrial revolution” that was the fastest and largest in history, outpacing the one Britain experienced in the 1800s.

“When Asia went through its financial crisis in the 90s, no one was there to lend it a hand, and it got kicked. And so it learnt to be self-reliant,” said Meghdad.

nazrey

November 2nd, 2011, 08:10 AM

On track towards high income
2011/11/02 By Adeline Paul Raj
http://www.nst.com.my/nst/articles/Ontracktowardshighincome/Article/#ixzz1cWeL3uNX

KUALA LUMPUR: Malaysia is on the right trajectory towards becoming a high-income nation by 2020.

This is based on what it has managed to achieve so far in the first year of its Economic Transformation Programme (ETP), said Datuk Seri Idris Jala, who is chief executive officer of Pemandu, the unit under the Prime Minister’s Department that oversees ETP’s implementation.

Some RM10 billion in investments under the ETP have been realised so far.

The amount constitutes 64 per cent of RM15 billion investments committed for this year, he said in an analyst-and-media briefing here yesterday that marked ETP’s one year anniversary.

Projects are also “prog ressing well”, with 70 out of the 131 entry point projects (EPPs) under ETP had taken off. “As some EPPs have multiple projects,we nowhave 97 projects which are in various stages of implementation.” Malaysia made good progress, matching up to its targets this year for gross national income (GNI), private investments and jobs creation, which Idris described as “the most important numbers”.

In the first half of this year, the country realised 58 per cent of its GNI target of RM494 billion, 62 per cent of its full-year target of RM83 billion for private investments, and about half of its jobs target of 684,000, Idris said.

As for foreign direct investments (FDI), they grew by 76 per cent compared with the first half of last year. The government also brought home more than 450 Malaysians working abroad under Talent Corp’s Returning Expert Programme, he said.

“To me, we are okay and are on the right trajectory. We need to keep the momentum and stay focused.

This is not a sprint. No one in the government is declaring victory here,” Idris said of the ETP’s progress.

He believed that the European debt crisis would not lead to a global recession, but would slow down economic growth next year.

When asked what Malaysia could learn from Singapore in attracting FDI, Idris said the country needed to stay focused through the ETP’s 12 key economic areas and stay competitive through its reform initiatives.

“We lost the plot over the last 10 years because we wanted to do everything under the sun. Let’s not lose that focus, orwe’ll end up becoming ‘Mr Average’.” On the goods and services tax, he said it would have to be implemented “sooner, rather than later”, adding that 104 other countries were already using this as a way to boost revenue.

guy4versa4

November 2nd, 2011, 10:42 PM

from skybar

2011 Human Development Index was released! (15 countries added on the report)

So the next countries that is going to be developed (this year's newest members of countries having very high human development) are:

(via 2011 rankings)

Very High HDI
39th. Poland
40th. Lithuania
43rd. Latvia
44th. Chile *** yey! :cheer:
45th. Argentina
46th. Croatia

Others remained developing but having
High HDI
48th. Uruguay
50th. Romania
56th. Saudi Arabia
57th. Mexico
58th. Panama
61st. Malaysia
62nd. T&T
63rd. Kuwait
66th. Russian Federation
73rd. Venezuela
76th. Ukraine
80th. Peru
83rd. Ecuador
84th. Brazil
92nd. Turkey

While the others are still having
Medium HDI
101st. China
103rd. Thailand
107th. Paraguay
108th. Bolivia
112th. Philippines
123rd. South Africa
124th. Indonesia
128th. Vietnam
130th. Morocco
134th. India

______________________________________
newest ranking is being lead by Norway, Australia, Netherlands, USA & New Zealand, with #1 to 5 respectively. :)

source: http://hdr.undp.org/en/statistics/

patchay

November 3rd, 2011, 05:05 AM

UNDP Human Development Report
Selected Country Comparisons 2010-2011

http://img695.imageshack.us/img695/9314/undp2011.jpg

nazrey

November 3rd, 2011, 07:18 AM

RM6b 'buffer' for Malaysia economy
By Rupa DamodaranPublished: 2011/11/03
http://www.btimes.com.my/Current_News/BTIMES/articles/rup2cc/Article/index_html#ixzz1ccI8rXsx

http://www.btimes.com.my/articles/rup2cc/pix_middle

KUALA LUMPUR: Malaysia has a RM6 billion "buffer" to fall back on if the economy needs to be stimulated in the event the global economy takes a turn for the worst.

Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said the allocation, which was provided for under the recently-tabled 2012 Budget, would ensure a bigger growth for the economy.

"Should the outlook be gloomy next year, we have the buffer to fall back on... it will protect our economy," he said on the sidelines of the three-day MIA-AFA Conference, here.

With government trust funds having an accumulated size of RM30 billion, Malaysia has huge reserves and the Accountant-General's office is reviewing the status of these funds, some of which are dormant.

The government has more than RM4 billion in contingency funding as well as RM5 billion in Kumpulan Wang Amanah Nasional.

Economists were concerned with Malaysia's fiscal position, looking at its public debt to gross domestic product ratio of 53.1 per cent last year.

They felt that should the global economy slip into another crisis, Malaysia would be affected as it has spent a substantial sum for its two stimulus packages in the 2008-2009 economic crisis.

But Husni said Malaysia's national debt level was still below the 55 per cent level while the loan payment at 10 per cent was lower than the 15 per cent prudent level.

Husni said the RM407 billion national debt which grew by 12.3 per cent last year, was still manageable and has not breached the critical threshold.

The debt servicing ratio for external loan at two per cent was still "within our capability".

Should the economy risk slipping into another crisis, the government is also looking to the monetisation of unutilised landed assets, which could raise a total of RM1.2 billion.

It will privatise the pieces of land that are sizeably smaller at between 4.8ha and 11.2ha in average and these include those along the River of Life project.

On the boost to revenue, he said by plugging loopholes in tax collection, the amount increased significantly this year.

Husni said while most of the financing was sourced domestically, external loans stood below RM35 billion, which was well within the country's capacity.

nazrey

November 4th, 2011, 10:53 AM

M'sia records RM9.63bil trade surplus in Sept
Published: Friday November 4, 2011 MYT 2:32:00 PM
http://biz.thestar.com.my/news/story.asp?file=/2011/11/4/business/20111104144239&sec=business#13203965055351&if_height=571

KUALA LUMPUR: Malaysia recorded a trade surplus of RM9.63 billion in September, Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed said today.

"Total trade rose by 14.9 per cent to RM107.73 billion," he said in a statement, announcing the Malaysia External Trade Statistics, here.

Mustapa said Malaysia's exports continued to expand last month, increasing by 16.6 per cent compared to a year ago to RM58.68 billion, while imports increased 12.9 per cent to RM49.05 billion.

On a nine-month basis, the country posted a trade surplus of RM89.22 billion with total trade expanding by 8.6 per cent to RM937.97 billion.

Exports increased by 8.3 per cent to RM513.59 billion while imports rose by 8.9 per cent to RM424.37 billion.

"The top export destinations for the period were mainly in Asia," he said.

In term of imports for the period, the main categories by end use were intermediate goods valued at RM288.78 billion or 68 per cent of total imports, capital goods at RM57.62 billion or 13.6 per cent of total imports, and consumption goods at RM29.64 billion or seven per cent of total imports.

Imports were mainly to meet requirements for investment related projects, industrial production as well as infrastructure development needs of the country.

Mustapa said the main sources of imports were other Asian countries, the United States and Germany. On a quarterly basis, total trade in the third quarter was higher by 2.8 per cent at RM322.91 billion.

Both import and export grew by 3.4 per cent and 2.1 per cent, respectively.

According to Mustapa, exports fared better last month. He said that from manufacturing to commodities, almost all major sectors recorded increases in exports in September.

Total exports in September grew by RM8.36 billion, of which 50 per cent was contributed by the growth in manufactured exports.

Exports of electrical and electronic (E&E) products in September increased by RM510 million or 2.6 per cent from September last year, contributed by higher exports of integrated circuits and transistors.

Other E&E exports that grew were telecommunications equipment and parts, telephone sets and storage units for Automatic Data Processing (ADP) machines.

The growth in the September E&E exports was seen to China, Singapore and France.

The export of E&E products to Thailand expanded by 8.4 per cent or RM64.2 million in September, due to higher exports of parts and accessories for ADP, cathode ray tubes and TV reception apparatus.

However, E&E exports to Thailand for October and November 2011 is expected to decline owing to the flood situation in the country.

E&E exports from January to September this year declined by 5.5 per cent compared with the corresponding period of 2010, valued at RM177.25 billion.

During this period, Mustapa said that all other major manufactured exports recorded increases.

Mustapa noted that rising prices coupled with continued demand for the major commodities, elevated September's exports by RM3.94 billion, above the value recorded in the same month last year.

Exports of major commodities that expanded during the first nine months of 2011 were palm oil which was up by RM14.27 billion, refined petroleum products (up by RM6.62 billion) LNG (up by RM5.51 billion) and crude rubber with an improvement of RM3.95 billion.

On market performance, Mustapa said ASEAN continued to provide a strong regional base for Malaysia, with exports increasing by 10.6 per cent in September from a year ago.

Exports to ASEAN amounted to RM13.71 billion, accounting for 23.4 per cent of Malaysia's total exports, in September. - BERNAMA

RELATED LINK: http://www.statistics.gov.my/portal/index.php?lang=en

nazrey

November 4th, 2011, 11:13 AM

RM3b boost to oil and gas hub
2011/11/04 By Joniston Bangkuai
http://www.nst.com.my/nst/articles/10daat/Article/

LABUAN: Work on the proposed RM3 billion integrated petroleum project on Pulau Daat, off here, is expected to begin soon.

An initiative under the government's Economic Transformation Programme, the project will serve as the key catalyst for turning the island into a prime oil and gas hub in the region.

Pulau Daat, 15 minutes by speed boat from here, was proposed for the massive project as it was found to be suitable to provide land-based logistics and support services such as tank farms, oil terminals, container, and fabrication yards.

The plan to make Labuan an oil and gas hub was announced by Prime Minister Datuk Seri Najib Razak during his visit to the island earlier this year.

Made a Federal Territory in 1984, Labuan is seen by the government as having potential in helping Malaysia to become one of the world's top deep-water oil and gas hubs after Houston in the United States, Rio De Janeiro in Brazil and Aberdeen in Britain.

"I believe that if the plans are implemented accordingly, Labuan will definitely realise its potential to become the hub for the oil and gas industry in the region," said Federal Territories and Urban Wellbeing Minister Datuk Raja Nong Chik Raja Zainal Abidin.

He said Chinese firm, Zhuhai Winbase, known to have one of the best tank storage facilities in the world, was among the first foreign companies to commit investments in the proposed Labuan oil and gas hub.

Zhuhai Winbase specialises in petrochemical products storage and distribution and has business dealings with renowned companies such as BP Amoco, Hutchison Whampoa, Eternal and Union Polymers.

Labuan received a major boost with the staging of the first Asean Oil and Gas Expo here on Wednesday.

The exposition attracted more than 100 companies from all over the world and over RM50 million worth of technology and products went on display.

Also taking part in the expo were eight government agencies tasked with providing exhibitors and business visitors with information on the various government incentives available for investors as well on policy matters.

Opening the expo, Raja Nong Chik said the staging of the expo was a timely opportunity and a step in the right direction for Labuan to showcase and highlights its potential as a premier oil and gas hub in the region.

He said the proposed Labuan oil and gas hub would complement the Sabah Oil and Gas Terminal (SOGT) being develop by Petronas in Kimanis.

nazrey

November 4th, 2011, 04:04 PM

Labuan can be 'captive' hub
By Rupa Damodaran Published: 2011/10/18
http://www.btimes.com.my/Current_News/BTIMES/articles/rup17cc/Article/

http://www.btimes.com.my/articles/rup17cc/pix_middle

KUALA LUMPUR: The captive insurance market via the Labuan financial centre is expected to expand sharply next year as more corporations look to the region to expand their range of insurance coverage.

International Business and Financial Centre Malaysia (IBFC) chief executive officer David Kinloch said next year, IBFC is likely to attract several large European and Asian corporations involved in the banking and finance, heavy manufacturing and electrical and electronic sector.

"Labuan can be the automatic destination for captive insurance as the region becomes more sophisticated in risk management and its insurance buy," Kinloch told a media briefing on the sidelines of the two-day First Asian Captives Conference yesterday.

To date, there are 35 captives but Kinloch felt that there is a big potential as Labuan has been drawing business back from other jurisdictions both in wealth management, banking and insurance.

Captive insurance is a long-term business which can take companies about three years to conduct feasibility and secure approvals. Additionally, there are about 15 jurisdictions to pick from, of which Labuan is one.

"We have been pitching hard over the last three years and expect our efforts to bear fruit in 2012," he said.

The international financial market has been changing rapidly and this has resulted in the captive insurance market to become regionalised as seen in the case of Bermuda, for instance. Bermuda is strong on the US market but has been losing its "appeal" to places like the British Virgin Island and Luxembourg to meet the demand of the European insurance captive market.

Closer home, the Far East is still at the infancy stage, providing a choice between Singapore and Labuan.

Kinloch admitted that in the past Singapore had had an advantage, having been on the captive insurance scene since the 1980s but Labuan has been gaining in its appeal with the legislation and structures put in as well as the cost advantages which are in place.

"No longer a sleepy hollow, Labuan can do a lot of thing which cannot be done in the case of Singapore or Hong Kong such as civil law trust (partnerships)."

The financial centre is now widely recognised as a hidden gem, thanks to Malaysia's place in the Islamic finance arena, its 79 double taxation agreements which is one of the highest, and its transparent jurisdiction.

"We're seeing an influx of private and corporate wealth from other parts of the world. For the first time, I say, we are taking business away from competitors in Guernsey, Panama, Mauritius, Seychelles and Singapore," he said.

More than 10 major Malaysian-listed companies have one or more captives in Labuan, including plantation conglomerate Sime Darby Bhd and national oil corporation Petronas.

As at 2010, there are 169 insurance licences in Labuan captive insurance market, with total assets to the tune of US$3.07 billion (RM9.58 billion) and total gross premiums totalling US$1.2 billion (RM3.74 billion).

"We can target 100 such large companies which have the potential of setting up captive insurance in Labuan but have overlooked it in the past. But more companies will turn to Labuan as they look to the sophisticated ways they can buy insurance and manage their risks internally," Kinloch said.
New incentives to make M'sia O&G international hub
Tuesday November 1, 2011
http://biz.thestar.com.my/news/story.asp?file=/2011/11/1/business/9812169&sec=business

PETALING JAYA: The Labuan Financial Services Authority (www.lfsa.gov.my/) (Labuan FSA) and the Malaysia Petroleum Resources Corp (http://etp.pemandu.gov.my/Progress_Update-@-Malaysia_Petroleum_Resources_Corp.aspx) (MPRC) have launched a slew of incentives to attract oil and gas traders to Malaysia.

The key incentives, aimed at turning Malaysia into an international hub for the oil and gas industry, was offered to the Labuan International Trading Commodity Company (LITC) under the Global Incentives for Trading (Gift) Programme by MPRC and Labuan FSA.

Those incentives include a flat corporate tax rate of 3% of chargeable income, 100% exemption on director fees paid to non-Malaysian director, 50% exemption on gross employment income for non-Malaysian professional traders and others in managerial capacity of the LITC companies, and other various tax exemptions and fiscal incentives.

Companies with an annual turnover of US$100mil, business spending of US$3mil a year, employ a minimum of three professionals and engage local support services could qualify for the new incentives.

“The outlook for the national oil and gas sector is certainly promising with new resource discoveries and Malaysia is projected to contribute up to 11.6% of oil supply for Asia Pacific,” Labuan FSA director-general Ahmad Hizzad Baharuddin said at the launch.

Global demand for natural gas is predicted to rise by 41%, with more than 80% of this demand expected to come from users in the Asia-Pacific region.

He said Malaysia is well-positioned to capture the value creation from the rising demand for oil and its related products.

The Gift programme offers a set of incentives through the establishment of the LITC, which seeks to enable companies and financial institutions to tap on the huge trading markets of petroleum, petroleum-related products as well as selected commodities, including minerals and carbon credits.

“While Malaysia has thriving up-stream activities in the oil and gas sector, more activities could be initiated at the various levels in the business value chain, particularly in the trading of petroleum and its related products,” he said.

Ahmad Hizzad said several of the largest oil trading hubs are located in non-oil producing countries such as London and Geneva, where billions of trade transactions are flowing through these centres.

“This offers a huge potential for Malaysia to tap on the oil trading market, as it would not only generate revenue for the country, but would also increase the pool of expertise and talent, and improve the transfer of technology in the Malaysia,” he said.

Present at the launch, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the Gift programme encourages global petroleum trading companies to use Malaysia as a platform to enter the Asia-Pacific markets.

“Investing in Malaysia will give investors immediate access to more than 3.3 billion customers in a region which is experiencing rapid economic growth of more than five per cent annually,” he said.

Fifteen more oil and gas companies are expected to join the Gift programme, MPRC president/chief executive officer Dr Emir Mavani said after handing over trading licences to Petronas, Dialog Group Bhd, YTL Power International, Vitol and BB Energy.

Elaf Bank, Ohad in Labuan venture
Published: 2011/11/01
http://www.btimes.com.my/Current_News/BTIMES/articles/20111101123025/Article/index_html

Elaf Bank B.S.C.(c) licensed by the Central Bank of Bahrain(CBB) and Ohad Trust B.S.C.(c), have formed a joint venture in Labuan.

Ohad Trust B.S.C.(c) is a fund administration, Custodian and Trust services provider.As a result of this joint venture, the Labuan Financial Services Authorities (LFSA) has granted a "trust" licence under Ohad Trust (Labuan) Bhd (Ohad Labuan).

The LFSA granted trustee licence will allow Ohad Labuan to work on trust, foundations, fund administration, registrar and custody assignments in Malaysia.

"Ever since its inception, Elaf Bank has been actively sourcing and developing businesses in the two strong and well regulated Islamic Finance hubs, Bahrain and Malaysia.

"When we sought a branch office licence in Malaysia, it was because we believed that having a presence in South East Asia in addition to our headquarters in Bahrain, will create more business opportunities," said the chief executive officer of Elaf Bank, Dr Jamil El Jaroudi, in a statement today.

He also noted that having a branch office in Malaysia has definitely opened more doors not only for the Bank, but also for other Bahrain-based entities.

"It has allowed us to fulfill our promise to better serve our wide range of Islamic finance client needs in both the GCC and SEA regions," he said.

Meanwhile, the chief executive officer of Ohad Trust, Stefan Cnoops said: "As the first ever licensed trustee in the Middle East, Ohad Trust has been
present in Bahrain since 2005.

"We are proud to expand our presence and business prospects into Southeast Asia by obtaining a licence in Malaysia. "We are confident Ohad Labuan, which is backed by a comprehensive
regulatory framework and legal environment in Malaysia, will be able to capture significant trust related work, particularly in relation to Sukuk.

"We are equally confident that Ohad Labuan will become a leader, as it already is in Bahrain, in the administration and custody work of the increasingly important Labuan Islamic Investment Funds market."

Elaf Bank is a closed shareholding company incorporated in Bahrain and licensed by the Central Bank of Bahrain to operate as a wholesale Islamic bank with a paid-up capital of US$200 million.

The bank encompasses the full spectrum of wholesale Islamic banking with an additional differentiating dimension geared towards developing the sukuk secondary market to act as a market-maker.

Elaf Bank provides a wide range of financial services to clients
involving investment banking (fund-raising advisory, mergers and acquisitions and asset management), and treasury and capital markets (liquidity management, foreign exchange, investment, structured products and derivatives). -- Bernama

nazrey

November 5th, 2011, 07:38 AM

‘M’sia doing well in rural devt, poverty eradication’
Posted on November 3, 2011, Thursday
http://www.theborneopost.com/2011/11/03/‘m’sia-doing-well-in-rural-devt-poverty-eradication’/

http://www.theborneopost.com/newsimages/A1581.jpg

REGIONAL HEADS MEET: Prince Al- Muhtadee Billah officiating
at the opening of AMRDPE XII in Bandar Seri Begawan yesterday.

BANDAR SERI BEGAWAN: Malaysia’s holistic approach in revving up rural development and poverty eradication have borne fruits.

Minister of Rural Development and Regional Datuk Seri Mohd Shafie Apdal said at the `7th Asean Minister Meeting on Rural Development and Poverty Eradication (AMPRDPE)’ here yesterday that Malaysia’s poverty rate had dropped from 49.3 per cent in 1970 to 3.8 per cent by 2009.

In terms of hardcore poor, it dropped from 6.9 per cent in 1984 to 0.7 per cent in 2009.

“We have achieved one of the Global Development Objectives, which is to half poverty rate. We are now continuing our efforts to eradicate hardcore poverty by 2015, although there are certain issues which need to be addressed,” he said at the event graced by Brunei Crown Prince and Senior Minister in the Prime Minister Department Pengiran Muda Mahkota Al- Muhtadee Billah.

Mohd Shafie said the fight against poverty had experienced hiccups, including the 1997-1998 Asian financial crisis which caused Malaysia’s eight per cent annual growth rate to basically grind to a halt.

The government had now undertaken economic transformation programmes (ETP) through National Key Economic Areas (NKEAs) to complement the government’s transformation programmes (GTP).

Malaysia, he said, aimed to raise income levels to US$15,000 by year 2020. About 2.4 million households currently earned less than RM2,300 monthly and the government aimed to raise the income of 40 percent of this group who earned RM1,400 monthly to RM2,300 by 2015.

On rural development, he said electricity coverage was 93.5 per cent while that for rural water supply hit about 73 per cent last year.

Rural communication improved from 18,927km in 2000 to 45,905km 2009.

Among the Asean ministers present were Brunei Minister of Youth and Sports Pehin Orang Kaya Dato Paduka Hazair Abdullah, Sao Chivoan (Rural Development Minister of Cambodia), Bounheuang Douangphachanh (Minister in the Prime Minister Office of Laos), Kyaw Hsan (Minister of Information and Culture, Myanmar), Jose Eliseo M Rocamora (Minister of Poverty Eradication of Philippines), Halimah Yacob (Singapore), Dr Nguyen Thi Xuan Thu ( Deputy Minister of Agriculture and Rural, Thailand) and Sujana Royat ( Deputy Minister of Population Welfare Coordination, Indonesia).

nazrey

November 8th, 2011, 04:34 AM

Higher RM4.5bil gold jewellery exports seen this year
Monday November 7, 2011
http://biz.thestar.com.my/news/story.asp?file=/2011/11/7/business/9834962&sec=business

GEORGE TOWN: The total value of exported gold jewellery products from Malaysia is expected to increase to between RM4.25bil and RM4.5bil this year, compared with RM3.8bil in 2010 due to lower pricing of gold and the forthcoming Christmas holidays.

Penang Goldsmith Association (PGA) chairman Joeson Khor told StarBiz that the price of gold was presently around US$1,730 per ounce, compared to US$1,900 per ounce at the end of August.

“With pricing stabilising at around US1,730 per ounce and the demand for gold jewellery products for the Christmas festive season, we can expect the annual gold jewellery export figure to hit between RM4.25bil and RM4.5bil.

“Since August, the monthly value of gold jewellery product exports hovered around RM354mil, compared to RM322mil per month for the same period a year ago.

“The present pricing will attract more orders from overseas gold jewellery wholesalers in Japan, the United States, Germany, and Canada who are ordering to meet the demand for the Christmas holidays,” Khor said.

Besides the UAE, which consumes over 90% of Malaysian gold jewellery export, countries like Japan, the United States, Germany, and Canada are also importing more Malaysian gold jewellery products.

Gold jewellery exports to Japan increased to RM46.8mil for January-August this year, compared to RM42mil exported for the same period last year, while to the United States, the export volume rose to RM17.9mil for the 8 months of 2011, compared to RM16.7mil in the same corresponding period of 2010.

The other key market is Germany which imported RM8.6mil during the January to August period, compared to RM4.5mil in the last corresponding period.

UAE's consumption of Malaysian gold jewellery products for the 8 months of 2011 dropped about 1.9% to RM2.6bil from RM2.65bil.

From January to August 2011, according to the latest Malaysia External Trade Development Corp report, the value of exported gold jewellery was RM2.8bil, a slight increase of 1.1% from RM2.79bil in the same period a year ago.

On gold jewellery product import into the country, Khor said the volume of imports had increased substantially to RM356mil for the 8 months of 2011, compared to RM68mil in the same period of 2010.

“This has increased competition among local gold jewellery product retailers, leading them to reduce labour charges.

“This enables retailers to price their gold items more competitively in the market,” he said.

Due to the fluctuation in gold prices, many local and overseas gold jewellery retailers have ventured into selling silver-laced cubic Zirconia jewellery, which resembles gold jewellery items.

“This trend is catching up, especially in the United States, as silver prices are more affordable,” he said.

Silver prices currently hover at US$33 per ounce compared to US$31 per ounce a month ago.

Silver was priced lowest at US$20 per ounce in January, and rose to its peak of US$48 per ounce in April.

Next January, the Penang Goldsmith Association will travel to Mumbai to visit the gold jewellery retailers and manufacturers and the India International Jewellery Show.

“The purpose of the trip is to promote bilateral trading,” he said.

nazrey

November 8th, 2011, 04:52 AM

Malaysia doing right things to woo foreign capital
By Goh Thean EuPublished: 2011/11/08
http://www.btimes.com.my/Current_News/BTIMES/articles/venturecap14/Article/index_html

http://www.btimes.com.my/articles/venturecap14/pix_middle

KUALA LUMPUR: Malaysia is doing the right things to attract foreign investments and venture capital firms, said Anthony Viscogliosi, who heads Viscogliosi Bros LLC, a venture capital firm based in New York.

"Malaysia has the right ingredients to attract venture capitalists," Viscogliosi, who acts as principal for the firm, told Business Times recently.

These ingredients include policies that are business and investment friendly, a legal system that is functioning and in place and good infrastructure, among others.

"When you have all these ingredients, you have the ingredients where capital wants to be ... My view is that Malaysia is the Switzerland of Asia. This is a Westerner's view of Malaysia. The country is centrally located in Asia, it is about 7 hours of travel time from any of the markets in Asia. It is a market where all the cultures convene," he added.

Viscogliosi Bros, established by Anthony, and his brothers Marc and John in New York City in 1999, was the first venture capital/ private equity and merchant banking firm dedicated to the musculoskeletal/ orthopedics sector of the healthcare industry.

One of its investment, Small Bone Innovations Inc, has chosen Malaysia as the base of its business in Asia.

He said the existing venture capital model that derives funding mainly from assets managers does not work today.

"It does not work today because the world has changed dramatically. The model that works is the model that always have been there - where high net worth individuals, successful families, and governments sponsor the taking of risks in an educated way.

"Venture capital is a business of building businesses. It is not about managing assets. It is about transforming risks into success and you have to take a long-term view and be ready for the wave of change as they will come even when you don't anticipate them," said Viscogliosi.

"In Wall Street, long-term is tomorrow, in the real world, in building businesses, long-term is 7-15 years. A real business is built over many years, not in a day. The Internet boom and bust is not a reality. To build real and sustainable businesses, to develop leadership technology, it takes a decade."

He shared his "secret" on how to become a successful entrepreneur.

"The fear of failure is the most important aspect as an entrepreneur. My biggest fear in life is actually the fear of failure. With the fear, I have a great ambitious for success, and because I will not fail, I have to succeed, and it is the only answer. As an entrepreneur, one needs to have a faithful mindset, that success is the only answer.

"So, whenever I approach an investor to invest in one of my businesses and they say "No", but to me, what they are really are telling me is "Yes, with conditions". So the job is, under what conditions will you invest and I will try my best to meet those conditions," he said.

nazrey

November 8th, 2011, 05:58 AM

http://www.pemandu.gov.my/

http://img826.imageshack.us/img826/5398/64709106.jpg

Foundation to use RM14.3mil of funds allocated to eradicate poverty
By ROSHIDI ABU SAMAH Wednesday June 29, 2011
http://thestar.com.my/metro/story.asp?file=/2011/6/29/metroperak/8892451&sec=metroperak

YAYASAN Bina Upaya Darul Ridzuan (YBU) has been allocated RM14.3mil for the implementation of its activities this year.

Its chief executive Khairul Azwan Harun said of the amount, RM11mil was given by the state government while the balance was from the private sector.

“Out of the RM11mil allocated by the state government, RM4mil will be set aside for the microcredit scheme, RM4mil for the food aid programme, RM2mil to repair and build new homes while the remaining RM1mil is for our operating costs,” he told MetroPerak in an interview.

Khairul Azwan said the fund received from the private sector would be utilised to support the programme of repairing and building new homes.

“The funds will also be used to launch an Islamic pawnbroking scheme called YBU Ar Rahnu’s — the first establishment in Ipoh,” he said.

He said that last year, YBU received RM7mil from the state government and RM1.5mil from the private sector.

He said the increase in allocations for this year showed that both the state government and the private sector had confidence in YBU’s capabilities in implementing its programmes.

“YBU, which started operations on March 15 last year, aims to complement the state government’s efforts in eradicating poverty and to empower about 40% of the lower-income earners in Perak,” he added.

Khairul Azwan said all schemes introduced by YBU were aimed at helping the disabled, hardcore poor, senior citizens and single parents regardless of race and religion.

“Those interested to apply for the aid can visit YBU’s website at www.yayasanbinaupaya.com or just walk in to YBU’s office at D-2-1 Greentown Square located in Jalan Datuk Seri Ahmad Said,” he said.

He also said that YBU had appointed 10 volunteers in each of the 10 districts in Perak, called “Skuad IBU” (Ikon Bina Upaya) which would start operations from this month.

”The squad will go to the ground to help identify those who are eligible to receive assistance from YBU,” he explained.

For details, contact the YBU’s office at 05-255 5945/46.

Technology coordination needed to combat trans-border crime: Hisham
Updated: Monday June 27, 2011 MYT 9:17:29 PM
http://thestar.com.my/news/story.asp?file=/2011/6/27/nation/20110627200354&sec=nation#13095233000061&if_height=490

PUTRAJAYA: Enforcement agencies and the relevant government agencies need coordination in terms of technology and information sharing to combat trans-border crime together, said Home Minister Datuk Seri Hishammuddin Tun Hussein.

He said the eradication of such crimes was no longer limited to certain agencies.

"I have been to Germany where such technology is available. What we want to see from GPEC Asia is for this technology to be used by all relevant agencies such as the Malaysian Armed Forces (MAF), Royal Malaysia Police (RMP), Immigration Department, Customs Department and Bank Negara.

"This is because trans-border crimes involving money laundering and human trafficking require the cooperation of non-traditional agencies," he told reporters after launching the 2nd General Police and Special Equipment Exhibition and Conference Asia (GPEC Asia 2011) at the Putrajaya International Convention Centre (PICC) here on Monday.

Hishammuddin said it was time for agencies such as the immigration, customs and the central bank to take part in fighting trans-border crime.

"Therefore, what we need is data and information to be fully used for the security of the people and country," he said.

Hishammuddin also said that Malaysia was the first to forge cooperation between the RMP and MAF in tackling trans-border crime, following the implementation of the Government Transformation Programme (GTP).

"Malaysia pioneers this transformation and new approach which may be used by other countries facing similar threats.

"We will make more announcements, not only in terms of training and joint patrols, but cooperation between the MAF and Prisons Department.

"There are more programmes to prove and even though it is a new approach, it does not need additional funds," he added. - Bernama

Rural areas see rapid changes
2011/06/30
http://www.nst.com.my/nst/articles/2trans/Article/

http://www.nst.com.my/articles/2trans/single
Prime Minister Datuk Seri Najib Razak and Sabah Chief Minister Datuk Seri
Musa Aman being welcomed by a Lundayeh ‘orchestra’ at the Juara Rakyat
1Malaysia programme in Kemabong, near Tenom, Sabah, yesterday.
— NST picture by Edmund Samunting

TENOM: The impact of the Government Transformation Programme (GTP) can be felt by all Malaysians because it was all about balanced development in both rural and urban areas, Prime Minister Datuk Seri Najib Razak said yesterday.

"I am confident the projects under GTP will materialise because of the close cooperation between the state and federal governments in all aspects, be it be in economy, infrastructure, education or even social."

Najib said this during the Juara Rakyat 1Malaysia programme in Kemabong near here, where, despite a downpour from early morning, thousands turned up at the mud-soaked football field venue.

The organisers had set up 19 traditional houses, a stretch of exhibition booths and two main stages to hold a series of interactive activities, performances, talks and the launch of the programme by Najib.

"We cannot just bring about transformation in Kuala Lumpur or the Greater KL with its five to six million population.

"It is my desire to see balanced development throughout the country and this includes Sabah and Sarawak."

Najib said this was why one of the six National Key Result Areas (NKRAs) included ensuring basic amenities and higher income for the rural population.

After 18 months, he said, there had been the highest increase in terms of the development of roads, power and water supply and housing in the rural areas.

He noted this was especially so in Sabah with Chief Minister Datuk Seri Musa Aman at the helm of the state government and Datuk Seri Shafie Apdal as the rural and regional development minister.

"Only the Barisan Nasional government can do this transformation for the rural people and it's not just the country's economy that is improving, but next year we'll have a rolling plan where more allocations will be added."

Najib later presented a communal grant for 2,500ha, now owned by 601 villagers from the Kibantaluan area. An agropolitan project will be developed there with the villagers as stakeholders.

Three other areas to be issued similar grants in the vicinity are in Mangkalias (1,800ha), Pengulobon I (900ha) and Pengulobon II (200ha), involving 437, 116 and 41 villagers respectively.

Kibantaluan native chief representative Antarik Bali, 60, said they need not worry any more that the land would be taken away from them and expected better income now.

The plot of land will be developed as an oil palm plantation complete with a new township by the Sabah Land Development Board.
Malaysia a success in developing rural sector, reducing poverty — Shafie
Posted on May 31, 2011, Tuesday
http://www.theborneopost.com/2011/05/31/malaysia-a-success-in-developing-rural-sector-reducing-poverty-—-shafie/

KUALA LUMPUR: Malaysia has steadily enjoyed substantial success in developing the rural sector and in reducing incidences of poverty, in both urban and rural areas, said Rural and Regional Development Minister Datuk Seri Mohd Shafie Apdal.

He said in 1957, the level of poverty in Malaysia as reported by the World Bank stood at well over 50 per cent.

Looking back at Malaysia’s post-independence era from 1957, he said the country’s economy, resource structure and industries were not really that much different from other less developed countries.

However he pointed out that the latest figures showed that the poverty rate had come down to below four per cent.

“Put in human terms, this means that there has been a sustained improvement in the quality of life especially in rural areas.

In addition, our infant mortality and life expectancy rates, for example, now compare favourably with North America and Western Europe,” he said.

Mohd Shafei said this when closing the Malaysian Technical Cooperation Programme (MTCP) and Japan International Cooperation Agency (JICA)’s Third Country Training Programme (TCTP) Course themed “Sustainable Rural Development and Poverty Alleviation for African Countries – The Malaysian Experience”, here yesterday.

A total of 17 participants from Sub-Saharan countries namely Kenya, Malawi, Nigeria, Sudan, Uganda and Zambia took part in the 15-day course, jointly organised by MTCP, JICA as well as the ministry’s Institute for Rural Advancement (INFRA).

The course enabled the participants to understand rural development policies, strategies and programmes in the context of Malaysian experiences and also a chance to learn strategies in alleviating poverty through agriculture development.

In his speech, Mohd Shafei also outlined fundamental elements for eradication of rural poverty, among others the need to provide basic infrastructure like decent housing, access roads, power and water supply.

He said that for Malaysia, it had to create a rural educational infrastructure virtually from nothing and this was still in progress, because there were still too many homes without access to the Internet and this required considerable investment.

He said eradicating rural poverty would not be successful without developing the economic environment because economic activity not only had the potential to create wealth but increase spending power and the ability of individuals to make choices.

The minister said that the causes and or results of poverty, were exemplified by a lack of personal power to influence or change the conditions under which people lived.

Speaking to reporters later, Mohd Shafei said that in helping rural communities and also in alleviating poverty among Malaysians, the government not only developed infrastructure but also provided loans, training and business opportunities to them.

He said the African countries that learned from Malaysia’s experiences implemented what they had learnt in their respective countries, such as in emulating Felda’s success in palm oil planting.

Mohd Shafei said the government encouraged the Malaysian private sector to invest and do business in Africa as the continent was rich in various resources and human capital.

“Malaysian businessmen can’t rely just on traditional markets,” he said. — Bernama
Poverty eradication programme to benefit more
Monday May 23, 2011
http://thestar.com.my/news/story.asp?file=/2011/5/23/nation/8709150&sec=nation

KOTA KINABALU: A new group of 3,734 extreme poor households have been identified since April 24 this year in addition to the 1,396 households last year, according to Chief Minister Datuk Seri Musa Aman.

He said the increase was revealed during the update of information on the e-Kasih database, which was due to the awareness through state and federal governments’ programmes.

He said despite the recent report of increase, the total number of poor families had decrease from 28,916 to 27,933 in the same period.

He also said that RM14.3 million was channeled to the temporary 1AZAM allowance for disbursement on April 28 and added that 934 recipients who were registered had not yet made their claims worth a total of RM196,674.

Besides providing them with allowance, the 1AZAM programme is an initiative created by the Women, Family and Community Development Ministry as part of the GTP’s Low-Income Households NKRA initiative in assisting the poor and extreme poor by providing them with opportunities to generate extra income through holistic means such as providing training, teaching new skills, offering job attachment or placement, purchasing of agriculture inputs, or getting them involved in some new vocation and business.

Fatimah: Strive to wipe out poverty quickly
Posted on November 7, 2011, Monday
http://www.theborneopost.com/2011/11/07/fatimah-strive-to-wipe-out-poverty-quickly/#ixzz1d5QcXwvM

http://www.theborneopost.com/newsimages/A1670.jpg

GOVERNMENT CARES: Fatimah (wearing cap) in a group photo with Ubong
(front row, right) and her husband Ho (second row, left) on the couple’s
staircase at Kampung Medong Seberang Hilir in Dalat recently. Others in the
picture are Fatimah’s husband Datu Dr Adi Badiozaman Tuah (front left),
Dalat SAO Wee Teck Min and Dalat assistant welfare officer Betrice Zuras.

DALAT: It is imperative for officers and staff of the Welfare Department to go to the ground regularly in order to enable the government to achieve its zero-poverty target as quickly as possible, said Minister of Welfare, Women and Family Development Datuk Fatimah Abdullah.

“It is better for personnel from the Welfare Department to go to the ground regularly looking for poor and needy individuals. This approach is far better than waiting for the less fortunate people to come to their office because the majority of them are not only poor but also illiterate. Hence, they do not know how, where and whom to approach,” she said.

Fatimah said this to The Borneo Post recently when she visited an elderly Melanau/Chinese couple Nap Ubong and her husband Ho Seng Kiang whose house in Kampung Medong Seberang Hilir is a ramshackle and required urgent upgrading under the government’s housing for the poor (PPRT) scheme.

Fatimah also appealed to all government bodies entrusted with the poverty eradication program and concerned members from the private sector to be “dedicated, proactive and committed” in mobilising human capital, financial and other resources to help the needy.

Meanwhile, Ubong and her husband thanked Fatimah and her entourage for visiting them and hoped that their application under the PPRT would be approved soon.

nazrey

November 8th, 2011, 06:10 AM

Analysis: M’sia can still bank on domestic growth
Posted on November 7, 2011, Monday
http://www.theborneopost.com/2011/11/07/analysis-m%e2%80%99sia-can-still-bank-on-domestic-growth/

http://www.theborneopost.com/newsimages/T05722.jpg

THE NATION’S PULSE: The skyline of metropolitan Kuala Lumpur is evidently
panoramic, as shown in this file photo. Despite ongoing global uncertainties,
Malaysia’s economic data for the third quarter should be favourable in terms
of growth, according to analysis by TA Securities. — Bernama photo

KUCHING: With the gross domestic product’s (GDP) third quarter statistical announcement to be released this November 16, the nation can expect results to be strongly supported by both the domestic demand and international trade.

“Despite ongoing uncertainties, economic data for the third quarter should be favourable in terms of growth. We expect GDP to register an expansion of six per cent year-on-year following a growth of four per cent in the preceding quarter.

“Pending on further updates, we are maintaining our full-year projections for both this year and next year at 5.4 per cent and 4.6 per cent, respectively,” wrote TA Securities Holdings Bhd (TA Securities) in its analysis ‘Trader’s Compass – November 2011’.

The report noted that the eurozone was sliding closer to a recession as unemployment surged unexpectedly in recent months and inflation continued to trend well above the European Central Bank’s (ECB) target of two per cent.

“The threat of a faltering eurozone may continue to drag down the E&E (electrical and electronics) exports. Note that Malaysia’s E&E exports had been declining for the past five months through to August 2011. Nevertheless, we believe that Malaysia’s attractiveness in terms of doing business may thus attract the inflows of FDI (foreign direct investment,” it said.

Coming back to domestic demand, activities within this sector would probably continue to register a sustainable growth going forward, according to TA Securities.

“Note that the Leading Index (LI) rose by 0.2 per cent month-on-month to 110.8 points in August. In the same manner, the level of diffusion index for LI remains above 50 per cent, adhering that the economy will expand moderately in the near-term,” it highlighted.

Furthermore, the country had shown constant year-on-year strength through to September, with the broad money measure (M3) grew by 12.5 per cent totalling RM1.188 trillion during the month. M3 refers to the mechanism used to measure the most current level of money supply in an economy.

“Partly, the advancement in M3 and strong domestic consumption is underpinned by the overall healthy labour market condition through to August this year. Meanwhile, total loans and advances jumped by healthy double-digit 13.8 per cent year-on-year to RM972.2 billion,” TA Securities added.

Meanwhile, the ringgit had been trading at a rather volatile pace during October. However, TA Securities also noted that as at the end of the month, the local currency had closed relatively stronger against most foreign currencies, including the US dollar.

“Partly attributable to the continued surplus through trade and commendable reserves held at Bank Negara, the ringgit strengthened on a sequential basis against the Japanese yen at a monthly growth rate of 5.5 per cent; Indonesian rupiah at 4.7 per cent; US dollar at 3.9 per cent; Chinese yuan at 3.5 per cent; Thai baht at 2.6 per cent; Filipino peso at 1.4 per cent; the UK pound sterling at 1.4 per cent; as well as the euro at 0.6 per cent.

“Nonetheless, the ringgit had depreciated against the Australian dollar by 4.1 per cent month-on-month,” it observed.

buildship

November 9th, 2011, 05:11 AM

National debts: the screw, screwing and screwed
FROM AROUND THE BLOGS
Tuesday, 08 November 2011

http://3.bp.blogspot.com/-D3c-3FI08BU/TrkWeHudOFI/AAAAAAAAAvg/vTLCmf3v-Bc/s320/1+cover.jpg

Najib’s MOF will increase total debts by another 1/6; more than half of the new debt is to pay old debt, and even though we have not cleared the old debts, the government is going to pile up some more debts.

By Lee Wee Tak

Malaysia’s growing national debt is a matter of concern for many but it also baffles many. We know the amount is huge but what exactly caused it and what it is really about. What will happen to us if the debt becomes unmanageable?

APA ITU NATIONAL DEBT?
I dwelled into Ministry of Finance’s Q2 2011 report for some answers.
If a person spends more than he earns every year, he will owe a lot of money to a lot of people. Our national debts go on the same principle but just a little bigger in scale and consequence.

The BN administration has spent more than the taxes collected (and they collect a lot – company tax, personal tax, service tax, sales tax, customs, petroleum tax etc). If expenses is more than government income, then the government will issue bonds to local and foreign lenders.
In a nut shell, annual deficits are mainly due to
* the oversized and under-delivering civil service,
* huge subsidies on petrol (which I would blame it on a certain individual’s misplaced emphasis on developing national car over public transportation system) ;
and
* unchecked waste of tax money over stuff like project overruns (PKFTZ, Istana Negara , fantastic by election budgets, crazy defense spending etc) and routine expenses (read the AG’s report and sob).
http://thestar.com.my/news/story.asp?file=/2011/11/3/nation/9829248&sec=nation
“MACC: No graft involved in purchase of binoculars”
From finance ministry’s website, the debt is getting bigger and bigger.
http://2.bp.blogspot.com/-DgA5Q_VReI0/TrkWf88uHeI/AAAAAAAAAvo/zXajutwHtSM/s640/2+debt+trend.jpg
So the amount of repayment we have to pay is also getting bigger and bigger.
http://4.bp.blogspot.com/-03hhgEw1CfE/TrkWmoWeXoI/AAAAAAAAAvw/p6c01Lh-W2o/s640/3+debt+serving.jpg
MALAYSIA IS FULL OF CASH AND DEBTS
On page 129 of the MOF report, it read,
“Federal Government gross borrowings are projected to increase significantly in 2011 mainly on account of higher redemptions, loan repayments and deficit financing requirements. Given the ample liquidity in the financial system, the Government will continue to source its borrowing from domestic sources”
Basically the mumble jumbo above means – government is going to borrow more money because they have to
1) pay back old loans and
2) pay for more wastage of funds.
Since Malaysia has a lot of cash (you might yell ‘where got?” read on….), the government will take more of those funds from local sources instead of asking from foreigners who are more demanding & powerful creditors.
Further down below on the same page, the report stated that
“Total gross borrowings for the year are expected to amount to RM96.6 billion. Of this, RM90.2 billion or 93.3% constitute domestic borrowings while RM6.4 billon is from external source. Of the gross borrowings, RM51 billion is for repayments of existing debts while the balance, RM45.6 billion will be used to finance the deficit.”
Basically it means that Najib’s MOF will increase total debts by another 1/6; more than half of the new debt is to pay old debt, and even though we have not cleared the old debts, the government is going to pile up some more debts.
So the question where is the “ample liquidity in the financial system” comes from?
http://2.bp.blogspot.com/-R-kPfz7CSzM/TrkWoeP0bnI/AAAAAAAAAv4/jQl5-tqPoeY/s640/4+who+lend+to+HPDN.jpg
If you look at the debt trend, the borrowings from foreigners goes up and down, meaning the foreigners do get paid back but when you look at the Hutang Persekutuan Dalam Negeri, the figures only go one way – which is higher and higher, meaning the rakyat who are supposed to be diutamakan really did not get paid. We as rakyat have no way to tell the BN administration to pay us back like a foreign creditor.
So really we are lending more and more to the fellow who recently propose to change the tax laws to say IRB can charge us any amount of tax the IRB thinks we should be paying*. And we cannot take those bureaucrats to court to dispute them.
*(I am talking about the proposed S107D of the Income Tax Act. You might get a lower court to rule this section as unconstitutional but the government can always appeal all the way to federal court)
We also gadai away........
Foreigners enjoy security over Malaysians bonds they subscribe, take a look at this recently issued USD2billion debt on Islamic finance principle of Wakala:
Wakala principle roughly means that the borrower can fix a percentage of “profits” to the lenders, anything on top of that return, goes to the borrower as his/her profit/incentive/reward.
http://1.bp.blogspot.com/-61IwkS1Txdw/TrkWqHEJ19I/AAAAAAAAAwA/4RVK0oZ07_k/s640/5+sukuk+details.jpg
Note that in order to borrow from foreigners, the kerajaan has gadai some schools and a renounced medical institution, so next time when you pay your fees, the higher fees is explained by the need to pay “profits” and “incentives” to both borrowers and lenders.
Note that the Finance Ministry’s report, which read more like a “high five myself” advertisement, celebrate us borrowing more and more. Something does not feel right here. Who feels proud to have bigger debts?

http://malaysia-today.net/mtcolumns/from-around-the-blogs/44800-national-debts-the-screw-screwing-and-screwed-

nazrey

November 9th, 2011, 06:53 AM

US firms in M'sia to continue growth
Published: Tuesday November 8, 2011 MYT 2:27:00 PM
http://biz.thestar.com.my/news/story.asp?file=/2011/11/8/business/20111108144002&sec=business

KUALA LUMPUR: US companies in Malaysia are expected to continue their growth next year despite the challenging global economy.

American Malaysian Chamber of Commerce (AMCHAM) (www.amcham.com.my/) vice president Datuk Tim Tariq Garland said the key area of growth in the country is in the services sector.

"It's an area Malaysia desires to grow as well as US businesses interested to expand their capabilities," he told reporters after officiating AMCHAM's Young Enterprise (YE) Programme 2011 Achievers' Showcase here today.

He said Malaysia's move to further liberalise 17 services sub-sectors, announced by Prime Minister Datuk Seri Najib Tun Razak in the 2012 Budget, had given a big boost to the country's efforts to attract investment here.

"Many companies are looking at Malaysia to set up a regional centre and leverage Asean growth and opportunities that exist with the 600 million people in the region," he said.

Garland said the 10-month YE programme had given the opportunity to Malaysian Form 4 students from 15 schools to manage the full cycle of a business enterprise through hands-on experience under the guidance of corporate and teacher advisors.

"The YE programme, driven by sponsor companies and supported and recognised by the Education Ministry, helps provide practical opportunities for students to gain an understanding of the role of an entrepreneur," he said.

Sekolah Menengah Kebangsaan (SMK) Wangsa Maju Seksyen 5, Kuala Lumpur with its enterprise, Svian Legacy, won the Best Enterprise Award, beating 14 other contenders. Other winners were Legacy Enterprise by SMK Bandar Utama 3, Selangor (Most Profitable Stall), EPIC Enterprise by SMK Tinggi St David, Melaka (Best Annual Report and Best Use of ICT) and Just Enterprise by Catholic High School, Selangor (Best Product). - BERNAMA

nazrey

November 9th, 2011, 02:24 PM

Workload makes for 'a rightsize civil service'
2011/11/09 By Aisyah Sulaiman
http://www.nst.com.my/nst/articles/6civvy/Article/

http://www.nst.com.my/nst/articles/6civvy/pixgal1

An Immigration Department officer attending to a member of the public at the
Immigration Department in Putrajaya. Civil service staff are increasingly
entrusted with providing quality service to the public.

KUALA LUMPUR: Improving government services and increasing workload of the civil service justify the size of the civil service, Immigration Director-General Datuk Alias Ahmad said.

Essentially, the number of civil servants correlates with their workload, producing what Alias termed as "rightsizing".

"We offer more services especially online. And, we need to ensure we provide quality service," he said, responding to remarks by DAP national publicity chief Tony Pua on the size of the civil service.

Pua said the loose grouping of DAP, Pas and Parti Keadilan Rakyat would work towards progressively improving civil service efficiency, including by slashing its size, if the party secured federal power in the coming general election.

Malaysian Government Pensioners Association president Datuk Paduka Raja Wan Mahmood Pawan Teh said the civil service should remain free from any political interference.

"The civil service has their own system and the number of workers that carry out the work is in accordance with their workload. We have an efficient civil service and their numbers should not be compromised."

Wan Mahmood said if the numbers were reduced, then they would have to outsource work to private companies.

"Why do we want to cause more inefficiency and take away people's jobs?"

The Malaysian Employers Federation executive director Shamsuddin Bardan said the public service was considered "special" because of the security of employment offered.

"To reduce the workforce is a tall order, even if it is done gradually, as the main appeal of the government service are the benefits and entitlements that the workers receive.

"In the public service there is essentially no such thing as retrenchment, only an 'early retirement' with mutual consent of the employees."

http://www.nst.com.my/nst/articles/6civvy/pixgal2

nazrey

November 11th, 2011, 06:19 AM

Five ministries to be evaluated under pilot project
Sunday October 23, 2011
http://thestar.com.my/news/story.asp?file=/2011/10/23/nation/9757096&sec=nation

IPOH: Starting 2013, the Government will evaluate the performance of each ministry before determining the allocations for them.

Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said five ministries, including the Finance and Education, had been picked for the pilot project next year.

“This means that the allocations of these five ministries under Budget 2013 will be based on their performance.

“They will be assessed according to the criteria set by a special unit under the Finance Ministry at the end of next year,” he told reporters after presenting aid to a stroke victim in Manjoi here yesterday.

Ahmad Husni said this was the first time the allocation for any ministry was being determined by its performance. This, he said, was one way of enhancing the quality of public service.

He said the Government had conducted various studies on models used by other countries such as New Zealand, Australia and Singapore before implementing the system.

“We want to ensure Malaysia can compete globally. This requires transformation.

”Under the leadership of Prime Minister Datuk Seri Najib Tun Razak, we have seen government administrative transformations as well as political, economic and urban transformations, which require us to implement them now.

“I am confident that the country can compete well globally, as whatever is being done by the Government is measurable,” he added.

patchay

November 11th, 2011, 11:51 AM

8th Update - Malaysia announces 13 projects under the Economic Transformation Programme
Business Times | November 10, 2011
Source:
>>> http://www.btimes.com.my/Current_News/BTIMES/articles/20111110165858/Article/index_html
>>> http://etp.pemandu.gov.my/Progress_Update-@-10_Nov_2011.aspx

Toshiba Corporation to set up Global Supply Hub, Regional Operational Headquarters (OHQ) and Regional R&D Center in Malaysia

http://etp.pemandu.gov.my/images/articles/logo_toshiba.gif
Toshiba Corporation of Japan, a Fortune 500 company, has selected Malaysia as its global supply chain hub; regional full turnkey and R&D centre for its transmission and distribution equipment for the Southeast Asia market. Toshiba will also be establishing its regional operational headquarters in Malaysia. This is in line with Toshiba’s plan to regain its market position by establishing global manufacturing hubs at strategic locations worldwide.

http://etp.pemandu.gov.my/images/articles/img_toshiba_1.jpg

IBM to invest 1 billion ringgit in Cyberjaya, selected Malaysia to be home to its Advanced Global Delivery Center

http://etp.pemandu.gov.my/images/articles/logo_ibm.gif[/img
IBM will invest RM1 billion over the next five years to build a New Global Delivery Center in Cyberjaya, Malaysia. The new centre in Cyberjaya will help IBM deliver information technology services capabilities to its high-value enterprise clients from various industry sectors around the world. The centre will help to position Malaysia as a hub of skilled IT experts in this region. This centre is a key example of a project that brings together economic development and highly skilled jobs in a way that can help transform Malaysia's economy in the 21st century.

[img]http://etp.pemandu.gov.my/images/articles/img_ibm_1.jpg

Akamai Technologies, a leading Content Delivery Provider in the global market, to establish NetStorage facility in Malaysia

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To date, these facilities only exist in US and Japan and Malaysia has been selected to be the next facilities for the Asia Pacific (excluding Japan) market. The partnership aims to draw the attention of major global content providers to host their content within the region and build towards positioning Malaysia as a World-Class Data Centre hub. This project is led by Telekom Malaysia Berhad and Akamai Technologies, a leading Content Delivery Provider in the global market, based in Cambridge, Massachusetts.

http://etp.pemandu.gov.my/images/articles/img_netstorage_2.jpg

US-based Agilent Technologies to set up facilities for Test & Measurement Set Up Machinery & Equipment Shared Service

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Agilent Technologies will lead in the development of an ecosystem of local design partners to boost Malaysia's offerings of design services, Original Design Manufacturer (ODM) and solution partners to global players. CEEDTec and Myreka, are two Malaysian companies poised to be groomed to become ODM partners with Agilent Technologies. This provides an opportunity for local companies to gain market insight and intelligence to develop their own capabilities to design and build their own products. This will promote more on-ground R&D activities, creating more high-value jobs within Malaysia. This will enable local companies to compete worldwide and further spur R&D activities locally.

http://etp.pemandu.gov.my/images/articles/img_agile.jpg

EduCity Iskandar will be Home to Campuses of Foreign Universities
- Newcastle University Medical,
- Netherlands Maritime Institute of Technology,
- Marlborough College,
- University of Southampton,
- Reading University,
- Raffles University of Singapore,
- Raffles American School

http://etp.pemandu.gov.my/images/articles/logo_eisb.gif
EduCity Iskandar, a unique education development with a 'multi-varsity concept' in an area of 305 acres in Nusajaya, is making good progress. Newcastle University Medical Malaysia (NuMeD) commenced operation in September and was officially opened on 1 November 2011. Netherlands Maritime Institute of Technology (NMIT) commenced operation in its temporary campus in May 2011, the construction of Marlborough College is 40% completed and Raffles University Iskandar and University of Southampton Malaysian Campus are on track to commence operations in January and September 2012 respectively.

New additions include Reading University Iskandar, which will start operations in 2012 and the Raffles American School, a co-educational residential international school with American curriculum will open on September 2012.

http://etp.pemandu.gov.my/images/articles/img_educity.jpg

Google Malaysia to help bring 700,000 active Malaysian SMEs to the Internet world

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Get Malaysian Business Online (GMBO) is a nationwide initiative led by Google Malaysia, to help small-medium enterprises (SMEs) connect their business online. GMBO aims to take away the barriers that stop most Malaysian businesses from going online. Apart from being free, quick and easy to adopt, GMBO also offers a sustainable support network to help businesses go online and grow. This project aims to bring at least 50,000 Malaysian SMEs online and to make them successful on the web within one year.

http://etp.pemandu.gov.my/images/articles/img_gmbo.jpg

Malaysia offers "Global Incentives for Trading (GIFT) Programme" for Global Oil & Gas Multinationals

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The Global Incentives for Trading (GIFT) programme is a set of incentives designed to encourage global petroleum trading companies to use Malaysia as their regional base to enter the markets of China, India and Southeast Asia. The GIFT Programme is managed and supervised by the Labuan Financial Services Authority (Labuan FSA). Registered companies can trade in petroleum, petroleum-related products, selected commodities, including minerals and carbon credits. To date, trading licences have been awarded to foreign multinationals such as BB Energy of the United Kingdom and Vitol Group of Switzerland. It encourages global oil and gas multinational companies to use Malaysia as their regional or operational headquarters for the Asia Pacific region.

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The Development & Production of Balai Cluster Fields Offshore Sarawak

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Petroliam Nasional Berhad ("PETRONAS") has awarded a Small Field Risk Service Contract ("SFRSC") for the Balai Cluster Field, located offshore Sarawak to BC Petroleum Sdn Bhd, a joint-venture company between Australia's Roc Oil local subsidiary, Roc Oil Malaysia (Holdings) Sdn Bhd, Dialog D & P Sdn Bhd and Petronas Carigali Sdn Bhd.

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Malaysian Aerospace Engineering, the world's 4th largest MRO player, to establish Maintenance Repair and Overhaul (MRO) Facility in Hyderabad

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The global aviation MRO services industry is projected to grow at a compound annual growth rate of 4.4 percent from 2009 to 2019, and is forecast to be worth RM208 billion in 2019. Realising the potential of the airline industry with increasing demand for MRO service, a new facility is set up in Hyderabad by MAS-GMR Aerospace Engineering Co Ltd (MGAE), a joint venture between GMR Hyderabad International Airport Limited and Malaysian Aerospace Engineering Sdn Bhd, a subsidiary of Malaysia Airlines System Bhd (MAS) to facilitate heavy maintenance of the A320 and the B737NG aircraft.

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Local conglomerate IOI Corporation will build a Fatty Ester & Specialty Oleo Derivative Production Facility

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Esterchem (M) Sdn Bhd, a wholly-owned subsidiary of IOI Oleochemical Industries Berhad will build a new Fatty Ester and Specialty Oleo Derivative production facility with a total capacity of 20,000 mt per year in Prai Industrial Complex. The products are to be used in pharmaceutical, food, cosmetics, personal care, and industrial applications. The plant is expected to be operational in mid-2013.

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KPJ expands with 5 more Private Hospitals

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KPJ Healthcare, one of the leading private healthcare providers in Malaysia will be spearheading a macro project to introduce five different hospitals offering a total of 822 beds over the next three years that will spur the healthcare industry in Malaysia. These hospitals also are as part of the initiative to spur the economy by boosting the health tourism industry in Malaysia. (Besides this, more than 2 dozen fully-equipped public and private hospitals are already under construction nationwide)

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Exotic Star to spearhead Malaysia's Production of Premium Fruits and Vegetables

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Exotic Star (M) Sdn Bhd will invest RM44.1 million in a modern one-stop centre for fruit packaging and processing. The company also plan to open new farms and engage local farms ranging from small and medium local growers under the EPP7 initiatives, to develop 2,250 hectare of agricultural land. Established in 1998 with more than 20 years in the agriculture industry, Exotic Star aims to increase the production of its core high-value fruits business (including papaya, carambola, jackfruit, rock melon, banana and pineapple), further strengthening it's positioning as a tropical fruits grower and exporter based in Malaysia.

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Pegagau Sabah to spearhead Integrated Cage, Hatchery and Shrimp Aquaculture

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The Pegagau Group comprising Pegagau Aquaculture Sdn Bhd (Prawn Farming and Seafood Processing Factory) and Pegagau Speciality Farming Sdn Bhd (Finfish Hatchery and Nursery) first started its operations in Tawau, Sabah in 2008. Today, the Pegagau Group has three shrimp farms located in Wakuba (106 ponds), Umas-Umas (135 ponds) and Semporna (202 ponds). Its annual shrimp production is 300 mt and is expected to increase to 350 mt this year, valued at RM 55.0 million.

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nazrey

November 11th, 2011, 04:43 PM

PM: Knowledge alone is dangerous
By R.S.N. MURALI and ALLISON LAI Friday October 14, 2011
http://thestar.com.my/news/story.asp?file=/2011/10/14/nation/9697271&sec=nation#13190312748591&if_height=611

MALACCA: Knowledge without wisdom will spell danger for younger Malaysians, warned Datuk Seri Najib Tun Razak.

The Prime Minister said integrity and moral values were sometimes given less importance as compared with educational excellence.

“Therefore, great knowledge without wisdom and integrity is indeed dangerous.

“We have to educate and motivate our younger generation on the importance of gaining wisdom and moral values,” he said at the ground-breaking ceremony for Malaysian Academy of Han Studies at Bukit Katil here yesterday.

“We don't want to just see an academically successful person but an individual with both education and wisdom.”

Present at the event were Chief Minister Datuk Seri Mohd Ali Rustam and academy chairman Tan Sri Lee Kim Yew.

The proposed three-storey academy will help in the spread of noble values via Chinese wisdom and Confucian tenets.

Najib said noble values and good wisdom would help establish a superior Malaysian society.

“We have to look into what has been bequeathed to us by ancient civilisations to mould Malaysians with the right disposition and values,” he said, citing Admiral Cheng Ho as a leader with the noble traits of knowledge, power and wisdom.

“He came on a mission to Malacca with a sense of friendship to spread goodwill between the Chinese and Malay worlds.

“He could have easily conquered Malacca with his armada of 317 ships and over 20,000 seamen, but he chose not to,” Najib said, calling on Malaysians to learn from the Chinese and other great civilisations and impart these to the younger generation.

“We can't be arrogant and live in a cocoon,” he said.

“We should learn about various civilisations in order to be a better person.”

Earlier, when launching the Seventh World Karate Junior and Cadet Championships at the Malacca International Trade Centre (MITC) hall in Ayer Keroh, Najib said he hoped that the athletes would see the event as an opportunity to learn the right values for life discipline and perseverance.

nazrey

November 11th, 2011, 05:51 PM

Poorest families the first to get RM500 aid under Budget 2012
Updated: Wednesday October 12, 2011 MYT 2:41:07 PM
http://thestar.com.my/news/story.asp?file=/2011/10/12/nation/20111012120217&sec=nation#13190312728001&if_height=575

KUALA LUMPUR: Families registered with e-Kasih, a database of the poorest families in the country, will be the first to receive the RM500 aid allocated under Budget 2012 .

Prime Minister Datuk Seri Najib Tun Razak said last week the RM500 would be given to each household with cumulative income below RM3000.

Deputy Finance Minister Datuk Dr Awang Adek Hussin told reporters on Wednesday that the ministry and its agencies were looking into setting up the facilities to disburse the money.

"The distribution of the aid is slated for next year.

"Right now, we are putting in place the mechanisms to identify eligible recipients and how the aid will be distributed.

"Those who are not registered under e-Kasih but qualify to receive the aid may need to fill up a form, which will be made available by the Inland Revenue Board in due time," Awang Adek said after opening the National Tax Seminar 2011 at the Putra World Trade Centre.

nazrey

November 11th, 2011, 05:59 PM

Malaysia: Enough money to run economy
Published: 2011/10/10
http://www.btimes.com.my/Current_News/BTIMES/articles/20111010180633/Article/index_html#ixzz1dPugJA7O

The government will have more than sufficient income to run the economy despite lower contribution from Petroliam Nasional Bhd (Petronas) next year.

The national oil company is expected to pay some RM28 billion in dividend to the government, a reduction of RM2 billion it used to pay every year.

"Petronas wants more money to reinvest in their operations which will in turn bring back revenue to us. "It is more than sufficient for us," secretary-general of Finance Ministry, Tan Sri Wan Abdul Aziz Wan Abdullah, told reporters here today.

The government expects total revenue to rise to RM186 billion next year from RM183 billion this year. -- Bernama

nazrey

November 11th, 2011, 06:21 PM

ETP progress 'encouraging'
ADELINE PAUL RAJPublished: 2011/11/11
http://www.btimes.com.my/Current_News/BTIMES/articles/etipi2/Article/

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European investors are generally pleased with the progress Malaysia has made on its economic transformation agenda, but are keen to see it open up certain sectors more.

They included the financial services sector, particularly Islamic finance, as well as the legal services and wholesale and retail sectors, said Vincent Piket, ambassador and head of the European Union Commission delegation to Malaysia.

Piket was part of a panel session discussing Malaysia's Economic Transformation Programme (ETP) at an ETP progress update here yesterday.

He said feedback from European investors had shown the financial services market to be "very, very managed", but that more opening up was needed.

"Bank Negara Malaysia is considering this and we hope to hear something," he said.

As for legal services, he said Europeans firms were acknowledged to be world leaders in the sector but they found "a closed situation" in the local market.

On wholesale and retail, he said European firms' involvement in the market was "very curtailed".

"These are a few areas where a little bit of work needs to be done," he remarked.

On the whole, however, he said European countries and investors were inspired by Malaysia's plans to transform itself into a developed nation by 2020.

"The great benefit of the ETP is that it consists of concrete actions, projects and targets. There are mechanisms to measure progress... and that's very inspiring," he said.

nazrey

November 11th, 2011, 06:28 PM

Obama looks towards growth opportunities in Asia, including Malaysia
Posted on 11 November 2011 - 05:18pm
http://www.thesundaily.my/news/205644

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WASHINGTON (Nov 11, 2011): With Europe mired in crisis, President Barack Obama is launching a charm offensive this week to hitch the United States (US) economy to growth opportunities in Asia that he hopes can help power the recovery he needs for re-election.

Obama, who was born in Hawaii and spent part of his childhood in Indonesia, will host Asian leaders including Chinese President Hu Jintao and Japanese Prime Minister Yoshihiko Noda in Honolulu this weekend to seek to improve trade ties across the Pacific.

He will then travel to Australia to announce plans to boost the US military presence in the region and will be the first American president to attend the East Asia Summit in Bali.

There, he will heap attention on the Philippines, Thailand, Malaysia and Indonesia as well as India.

The campaign to cozy up to Asian powers large and small comes at a critical moment for the US economy, whose recovery is at risk because of a spiraling debt crisis in Europe that dominated a G-20 leaders' summit in France last week.

"To have this trip happen when you have nothing but crisis in Europe and nothing but opportunity in Asia, you couldn't have more of a juxtaposition," said Victor Cha, who advised President George W. Bush on Asian affairs

Georgetown University professor Charles Kupchan said he expected the Asia swing to be "much more upbeat" than the trip to Cannes had been for Obama, whose re-election chances in November 2012 will hinge on his economic record.

Executives from companies such as Boeing Caterpillar , General Electric and Time Warner Cable will also attend the APEC summit to help Obama make the case that closer ties with Asia will help create US jobs.

"When you look for rays of light, where is growth going to come from, one of the main answers is exports to Asia," Kupchan said.

"It is something that this president needs to focus on, particularly in an election season."

Obama will not be able to leave the European financial crisis behind entirely.

Asia-Pacific finance ministers meeting in Honolulu before the leaders' summit fretted about Europe's lack of strong action to deal with crises in Greece and Italy, and talked of ways to bolster their own economies to minimize
potential spillover.

PACIFIC POWER

Obama will also seek to reassert the US role as a Pacific power, shifting more of its budget-stretched military resources to Asia as it pulls out of Afghanistan and Iraq and worries less about security in Europe.

In Australia, he is set to announce an agreement for more than 2,000 Marines to train and do joint exercises from Darwin, a city with a large military presence on the country's northern coast, according to an Obama administration official familiar with the plans.

The official spoke on condition of anonymity.

The cooperation deal is seen as a stepping stone to a more permanent presence for the United States in Australia, which could eventually see US vessels stationed in Perth or nearby that could respond faster to regional threats or humanitarian emergencies than they could from Hawaii or California.

"This is part of a big push to put the United States back into the Asian game after a decade or so in which it has been preoccupied with the Middle East," Kupchan said.

Obama is likely to avoid direct references to China when making the announcement, although the agreement is widely seen to be a way for the United States to act as a check on Chinese power and defuse possible conflicts over waterways and disputed islands.

"It is sending a very clear message that the United States is not ceding Asia diplomatically to China," said Cha, now a scholar at the Center for Strategic and International Studies.

Kupchan agreed, saying smaller and emerging powers in Asia "don't want China stepping all over them because of its economic clout."

The United States provides a good military counterbalance that should not contradict its cooperative ties with Beijing so long as it is handled delicately, he said.

Asia has been a stated foreign policy priority for Obama since his first days in office, but wars in Iraq, Afghanistan, Libya and the Middle East soon diverted much of his attention.

Ben Rhodes, Obama's deputy national security adviser, said this week the winding down of US involvement in those conflicts offered a chance for the Democrat to focus more on the Asia-Pacific, which he described as "a region that is really going to shape the future of the 21st century." –Reuters

nazrey

November 12th, 2011, 06:20 AM

M’sia seals US$10bil deals with China
Published: Thursday October 27, 2011 MYT 3:26:00 PM
http://thestar.com.my/news/story.asp?file=/2011/10/27/nation/20111027153939&sec=nation

NANNING: Malaysia signed US$10bil (RM3.1bil) in economic cooperation deals with China during the roundtable dialogue between Prime Minister Datuk Seri Najib Razak and selected Chinese corporate leaders in the just-concluded 8th China-ASEAN Expo (CAEXPO).

CAEXPO secretariat secretary-general, Zheng Junjian, however, did not elaborate.

The roundtable dialogue on Oct 21, a special programme for Malaysia as the Country of Honour, aimed to develop the economic and trade cooperation between China and Malaysia in all fields.

Najib also witnessed the signing of memoranda of understanding or agreements between Malaysian and Chinese enterprises.

They included engineering, procurement and construction contracts between KLS Energy Sdn Bhd and China Machinery Engineering Corp for the wind/solar hybrid power project in Jaffna (Sri Lanka) and JAKS Resources Bhd and China National Technical Import and Export Corp for thermal power plant project in Vietnam.

Others included Perak Transit (The Combined Bus Services Sdn Bhd) and Xiamen King Long United Automative Industry Co Ltd as well as between Proton Marketing Sdn Bhd and Hawtai Motor Group.

Zheng said the various programmes organised by Malaysia had achieved positive results.

"They included a breakfast meeting between Najib and Chinese Prime Minister Wen Jiabao, the signing ceremony for Malaysia-China Qinzhou Industry Park project as well as the roundtable dialogue.

"These programme have achieved positive outcomes," Zheng said.

He said this at the closing ceremony of the 8th CAEXPO, which was held from Oct 21-26, 2011.

Meanwhile, Malaysia won three awards at CAEXPO Best Organisation of Exhibitors Award"; "Best Organisation of Purchasers Award"; and, "Country of Honour Memorial Award".

Malaysia External Trade Development Corp is the organiser of Malaysian Pavilion at CAEXPO. - Bernama

nazrey

November 12th, 2011, 06:29 AM

PM: M'sia must intensify efforts to compete globally
Updated: Thursday November 10, 2011 MYT 5:17:35 PM By WANI MUTHIAH and JOSEPH SIPALAN
http://thestar.com.my/news/story.asp?file=/2011/11/10/nation/20111110171503&sec=nation

KUALA LUMPUR: Malaysia needs to intensify efforts to compete with other nations around the globe in the current climate.

Prime Minister Datuk Seri Najib Tun Razak said this was necessary to successfully compete in a highly competitive economic scenario.

"The world is small and the competition for foreign investment is becoming more intense.

"Only countries that really are competitive can advance and weather adverse economic conditions," Najib said in his speech at the eighth Economic Transformation Programme progress update here Thursday.

Najib announced that 13 projects with a total investment value of RM5.85bil, a projected GNI of RM8.68bil and creation of 16,902 jobs.

"On a collective basis, the ETP has recorded RM177.1bil committed investment, RM237.23bil in projected GNI and 389,263 potential new jobs," he said.

IBM, which will invest RM1bil in a global technology services delivery centre in Cyberjaya over the next five years and create 3,000 jobs, and Toshiba, which is investing RM268mil, are among the companies that have invested in Malaysia.

Akamai Technologies, an up-and-coming US-based company which is ranked among the 100 best performing technology companies globally, has also made an entry into Malaysia.

nazrey

November 12th, 2011, 06:33 AM

Canadian gold miner to raise up to US$70m for Pahang project
By Kamarul YunusPublished: 2011/10/29
http://www.btimes.com.my/Current_News/BTIMES/articles/monplace/Article/#ixzz1dSwy3lhe

KUALA LUMPUR: Monument Mining Ltd, a Canadian gold mining firm operating in Malaysia, plans to raise up to US$70 million (RM219 million) from private placement to fund acquisition and development of the Mengapur polymetalic project in Pahang.

In a statement made available to Business Times, Monument Mining said it plans to carry out a non-brockered private placement of up to 156.3 million units at a price of US 45 cent (American cents) per unit, for gross proceeds of up to US$70 million.

"Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share of the company at a price of 67 cent (American cent) per share for a period of 36 months from the closing of the offering," it said.

The offering is subject to approval of the TSX Venture Exchange and, if required by the exchange, the approval of the company's shareholders.

It is also subject to Monument Mining's completion of satisfactory due diligence, after which the company said it will proceed to close Mengapur acquisition and completing the acquisition.

In June, Monument Mining announced that it plans to acquire the Mengapur Polymetalic project in Pahang, previously owned by Malaysian Mining Corp for US$50 million.

The company, through its wholly-owned subsidiary, Monument Mengapur Sdn Bhd (formerly Orifer Asia Sdn bhd) has entered into a binding memorandum of understanding with Malaco Mining Sdn Bhd, and the latter's wholly owned subsidiary, Cermat Aman Sdn Bhd to acquire the project.

Upon completion of the acquisition, Canada's Monument Mining said that it would hold a 70 per cent pre-financing interest in the project, which is located at the central gold belt district in Peninsular Malaysia.

The Mengapur project is expected to provide jobs for over 500 people once it is operating.

Monument Mining is a Canadian gold mining, production and exploration company operating in Malaysia.

It has two wholly-owned principal properties, namely Selinsing gold mine project and Damar Buffalo Reef prospect in Pahang.

nazrey

November 12th, 2011, 06:38 AM

Mission NewEnergy to build RM30m spent bleaching earth plant in Sandakan
Posted on 11 November 2011 - 05:35pm
http://www.thesundaily.my/news/205669

PETALING JAYA (Nov 11, 2011): Enviro Mission Sdn Bhd, a subsidiary of Australia-based renewable energy company Mission NewEnergy Ltd, will build a RM30 million spent bleaching earth solvent extraction plant in Sandakan in January next year.

The facility is expected to commence operations in September 2012.

Spent bleaching earth is a waste by-product from palm oil refineries. It has historically no application and is traditionally disposed off in landfills.

“Sabah produces one third of the total Malaysian palm oil output and currently has 11 palm oil refineries, generating more than 40,000 tonnes of waste spent bleaching earth per year. Enviro Mission’s plant will be able to recover some 6,000 tonnes of residual palm oil from the spent bleaching earth per year, at a processing rate of up to 200 tonnes a day or 66,000 tonnes per year," said Mission NewEnergy group CEO Nathan Mahalingam in a statement today.

"This residual palm oil can be used for the energy sector in the production of biodiesel as well as fuel in power plants, which is in high demand in Europe. The facility will reduce waste being sent to the landfill, create jobs and provide us with a low cost, environmentally-friendly raw material to produce biofuels,” he added.

Nathan said Enviro Mission has started engaging palm oil refiners in Sabah, and has secured agreements and understandings with refineries in Sandakan and Lahad Datu which will supply their spent bleaching earth to the company.

"We have also confirmed guaranteed off-take for the salvaged palm oil from a European buyer,” he added.

Mission NewEnergy currently operates two biodiesel plants in Kuantan, with a combined capacity of 350,000 tonnes per year, through its Malaysian subsidiaries, Mission Biotechnologies Sdn Bhd and Mission Biofuels Sdn Bhd.

nazrey

November 12th, 2011, 08:47 AM

US$12b oil squeeze
KAMARUL YUNUS Published: 2011/11/12
http://www.btimes.com.my/Current_News/BTIMES/articles/20111112004326/Article/index_html

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KUALA LUMPUR: Oil giants Petronas and Shell will invest US$12 billion (RM37.8 billion) to develop the world’s biggest offshore enhanced oil recovery (EOR) project in Malaysia.

Work to squeeze out extra oil from existing fields will take some 30 years and extend the life of these oil fields beyond 2040.

This will help to arrest Malaysia’s declining oil production. Crude oil production is forecast to fall 6 per cent to 600,000 barrels per day this year, according to estimates from the latest Economic Report.

“This development will positively impact Malaysia’s oil reserves and benefit the country
as a whole,” Shell Malaysia chairman Anuar Taib said in a statement.

Petroliam Nasional Bhd (Petronas) and Royal Dutch Shell yesterday signed a heads of agreement (HOA) for two 30-year production sharing contracts (PSCs).

The PSCs are for the Baram Delta oil fields, located offshore Sarawak and the North Sabah development areas offshore Sabah.

They could recover another 756 million baralongrels of oil reserves or 90,000 to 100,000 bpd.

Apart from being the world’s biggest off-shore EOR project on a combined basis, the technology used in the North Sabah fields could lead to the world’s first offshore alkaline surfactant polymer EOR project using horizontal wells.

Under the proposed PSCs signed yesterday,
field operator Petronas Carigali will hold a 60 per cent stake in the Baram Delta EOR PSC, and the remaining 40 per cent will be held by Sarawak Shell Bhd.

For the North Sabah EOR PSC, Petronas Carigali will hold a 50 per cent stake, followedby Sabah Shell Petroleum Company Ltd (25 per cent) and field perator Shell Sabah Selatan Sdn Bhd holding the remaining 25 per cent.

The partners will also carry out joint research and development in EOR technology under a separate agreement.

At the signing, Petronas was represented by its president and chief executive offi cer Datuk Shamsul Azhar Abbas, while Shell was represented by its chief executive officer Peter Voser.

“The agreement also provides an opportunity to work together with Petronas on building local knowledge and capabilities in enhancing oil recovery,” Voser said.

http://biz.thestar.com.my/archives/2011/11/12/business/b_11petronas.jpg
http://biz.thestar.com.my/news/story.asp?file=/2011/11/12/business/9886917&sec=business#13210178925151&if_height=632

Deal sealed: Petronas president and chief executive officer Datuk Shamsul Azhar Abbas (second from left) exchanging documents with Peter Voser. With them are Petronas executive vice-president of exploration and business production Datuk Wee Yiaw Hin (left) and Royal Dutch Shell upstream international executive director Malcolm Brinded.

nazrey

November 12th, 2011, 08:59 AM

Baker Hughes (www.bakerhughes.com/) facility in PKFZ
ZURINNA RAJA ADAM Published: 2011/11/11
http://www.btimes.com.my/Current_News/BTIMES/articles/bakr/Article/

Oil and gas firm Baker Hughes Inc Malaysia (BHI) will invest some RM100 million to set up a manufacturing facility in Port Klang Free Zone (PKFZ).

The plant is expected to be completed in the second quarter of next year.

It will mainly manufacture flow control, packer and liner systems for BHI customers in the Asia-Pacific region.

The facility will be built at a 30,000 sq ft site within a five-acre land near the free trade zone area.

"This facility will strengthen our global supply chain, thus advancing Malaysia's position as a regional corporate and industrial hub for the oil and gas industry," BHI Malaysia country manager Nur Saheran Abdul Hamid said in a statement yesterday.

BHI provides products and services in the oil and gas industry mainly for drilling, formation evaluation, completion, production and reservoir consulting.

It operates in over 90 countries.

As part of its preparation for future oil and gas industry growth in Malaysia, the US-based group has set up a 100,000 sq ft facility in Labuan.

The facility boasts laboratories, office, repair and maintenance operations and a remote collaboration centre.

The facility will also support BHI's technology transfer to Malaysia.

"Malaysia has great potential to be developed as the hub for oil and gas in the Asia-Pacific region, not only because it is rich with oil and gas resources, but also the political and economic stability, which serves as the main criteria for foreign investment in the country," Nur Saheran said.

In addition to the two facilities, the company has invested a total of RM500 million to date to set up other facilities such as the drilling fluids regional technology centre in Bangi, and Eastern Hemisphere IT in-sourcing centre and training development hub in Kuala Lumpur.

BHI Malaysia is also partnering with University Technology Petronas (UTP) to invest some RM30 million to, among others, develop Petroleum Exhibition Centre within UTP's vicinity.

nazrey

November 12th, 2011, 09:03 AM

Invest in education fund, expand military ties are recommendations to boost M’sia-US relationship
Posted on November 11, 2011, Friday
http://www.theborneopost.com/2011/11/11/invest-in-education-fund-expand-military-ties-are-recommendations-to-boost-msia-us-relationship/

KUALA LUMPUR: Investing in a Malaysia-United States education foundation and expanding military ties between the two countries were among the recommendations by Malaysian and US think tanks presented to Prime Minister Datuk Seri Najib Tun Razak here yesterday.

Institute of Strategic and International Studies (ISIS) Malaysia, in a statement here yesterday said these recommendations were designed for the leaders of both governments to sustain and deepen the bilateral relationship.

The recommendations were presented to Najib at his office in Putrajaya by ISIS Malaysia Chief Executive Datuk Dr Mahani Zainal Abidin and Ernest Bower, Senior Advisor and Director of the Southeast Asia Program at the Center for Strategic and International Studies (CSIS).

The think tank leaders said that bilateral relations were at an all time high and this window of opportunity should be seized by Najib and US President Barack Obama.

Mahani said while the US and Malaysia shared an important set of common goals and objectives, their study identified new opportunities for deeper cooperation that would transform the relationship in even more exciting and positive ways.

Other recommendations include planS for Obama to visit Malaysia next year with a senior US business delegation; create a high level bilateral strategic dialogue between the Malaysian and US governments including a Track Two channel featuring policy leaders; create a joint cyber-security task force and develop specific pathfinder initiatives to expand science and technology cooperation between the two countries.

Apart from that, the think tanks also proposed the creation of a high level Competitiveness Council featuring top business leaders from both countries who would provide suggestions to enhance trade and investment.

The recommendations were presented to Najib ahead of his departure for the Asia-Pacific Economic Cooperation (APEC) Summit in Hawaii and East Asia Summit in Bali where he will meet Obama.

The seminal joint project between ISIS Malaysia and CSIS commenced in May 2011, of which a full report will be published in January 2012 entitled “From Strength to Empowerment: The Next Generation of US-Malaysia Relations”.

The project focuses on four key pillars in the bilateral relationship — political and security; trade and investment; science and technology; and socio-cultural and education. – Bernama

nazrey

November 12th, 2011, 09:30 AM

Najib arrives in Hawaii for Apec Summit
Published: Saturday November 12, 2011 MYT 12:34:00 PM
http://thestar.com.my/news/story.asp?file=/2011/11/12/nation/20111112124735&sec=nation#13210176690151&if_height=629

HONOLULU: Prime Minister Datuk Seri Najib Tun Razak arrived in Hawaii to attend the Asia-Pacific Economic Cooperation (APEC) summit.

Accompanied by his wife Datin Seri Rosmah Mansor, the Prime Minister arrived by a private aircraft at the Hickam Air Force Base located next to Pearl Harbour at 3.45 pm local time.

On hand to meet him were Foreign Affairs Minister Datuk Seri Anifah Aman and Malaysian Ambassador to the United States Datuk Seri Jamaludin Jarjis and their spouses.

Najib will also attend the first-ever leaders' meeting of the nine-member Trans-Pacific Partnership on Saturday to be hosted by U.S. President Barack Obama.

The summit kicks off on Sunday with leaders to focus on efforts to enhance regional integration and economic growth and development.

Part of the Prime Minister's itinerary which included a bilateral meeting with Mexican President Feliope Calderon scheduled for Saturday has been cancelled after the Mexican leader called off his trip to Hawaii following the death of Interior Minister Jose Francisco Blake Mora in a helicopter crash earlier Saturday.

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Najib arrives in Hawaii for APEC summit
Malaysian Prime Minister Datuk Seri Najib Tun Razak and his wife Datin Seri Rosmah Mansor being greeted after arriving at Joint Base Pearl Harbor-Hickam for the APEC summit in Honolulu, Hawaii.

nazrey

November 14th, 2011, 03:20 AM

Keeping Malaysia's economic growth on track
Published: 2011/11/14
http://www.btimes.com.my/Current_News/BTIMES/articles/pmblg/Article/

Strengthening the private sector and giving entrepreneurs more opportunities, especially those in rural areas, can keep the economy on track, Prime Minister Datuk Seri Najib Razak said.

Najib, in his latest blog entry, said the government will continue to make reforms as well as opening up new sectors to the service economy, including engineering, legal services and telecoms, to foreign investment.

"Malaysian entrepreneurs should be able to compete for funds globally and I give them every encouragement to do so," he said.

Najib said attracting more foreign investment can strengthen the private sector.

"Foreign investment pays for modernisation and growth and helps integrate Malaysia's economy ever more closely with the developed world," he said.

Foreign investment drives innovation and increases skill levels in Malaysia, making Malaysian jobs in export-facing sectors more secure.

Najib said domestically, Malaysia needs to develop and implement best practices that will ensure long-term growth.

"We must embrace out-of-the-box thinking and explore non-conventional solutions to problems. We must seek sustainable ways to increase output, maximise resources, and reduce wastage, and we must do so creatively.

"Innovation and creativity fuels the growth of industry leaders and strong economies; we must follow suit," he said.

The Prime Minister also commented on the recently released Ease of Doing Business Index 2012, which saw Malaysia moved up five notches to 18th position, while holdings the first spot in the ease of business getting credit.

He attributed it to the country's solid progress in making it easier to start a business.

"More than that, the World Bank says that we are the world's top performer in keeping the costs of imports down - something that is vital given the real pressures on people's costs of living," he added.

http://www.btimes.com.my/articles/pmblg/pix_bottom

nazrey

November 15th, 2011, 10:57 AM

Malaysia inflation has peaked: Zeti
Published: 2011/11/15
http://www.btimes.com.my/Current_News/BTIMES/articles/20111115141144/Article/index_html

Zeti Akhtar Aziz, Malaysia’s central bank governor, comments on growth, inflation and Islamic finance. She made these remarks to reporters in Kuala Lumpur today.

On Malaysia’s economy and interest rates:

“The domestic economy is particularly strong. Consumption demand and foreign direct investment is improving this year and our inflation has peaked and stabilized. Although there is still food inflation, this has to be addressed by other measures other than interest rates.”

On whether inflation or growth is a bigger risk:

“There are always risks on the horizon for both because we are an open economy. If there is a sudden shortage of commodities or energy as we saw earlier, this causes energy and commodity prices to rise sharply and if they do, it will affect our rate of inflation. Or if there are disruptions in supply of food, it will cause food prices to rise. So there is always a risk of higher inflation.

“Given this on-going financial crisis, if it were to deteriorate beyond the current circumstances, yes it is going to be a risk to our growth.”

On whether Islamic finance is insulated from current global economic and debt crisis:

“Islamic finance is insulated by the first-round effect because it is more resilient. It is totally linked to the real economy and there are built-in checks and balances in profit- sharing, therefore more responsible lending. But of course, if companies slow down and financial markets get corrected, this will affect financial institutions.” -- Bloomberg

nazrey

November 15th, 2011, 10:58 AM

Malaysia-Korea trade hits RM36.9b
Published: 2011/11/15
http://www.btimes.com.my/Current_News/BTIMES/articles/20111115171611/Article/index_html

Malaysia's bilateral trade with the South Korea amounted to RM36.91 billion with exports valued at RM19.25 billion and imports RM17.65 billion for January to September this year.

International Trade and Industry Ministry's senior director of Economic and Trade Relations Division, Wong Seng Foo, said Korea continues to be one of Malaysia's main sources of foreign direct investment since 1980.

He said to date a total of 296 projects have been implemented with total investment of US$2.72 billion

"For the period of January to July 2011, six projects with Korean
participation have been approved with total investment of US$339.3 million," he said in his speech at the launch of Gyeonggi Fair (G-Fair) Kuala Lumpur 2011 in Kuala Lumpur today.

Wong said the country's main exports to Korea are liquefied natural gas (LNG), electrical and electronic (E&E) products, crude petroleum, refined petroleum products and chemicals and chemical products.

The major imports are E&E products, iron and steel products, chemicals and chemical products, transport equipment and refined petroleum products, he added.

He said the government is planning another trade and investment mission to the republic in the first quarter of 2012.

Meanwhile, president and chief executive officer of Gyeonggi Small and Medium Business Centre, Ki Hwa Hong, told reporters the two-day fair is held to promote Korean small-and-medium enterprises (SME) and to provide business opportunities for Asean businesses.

He said the fair also aims to promote trade, business and cultural exchanges between Malaysian and Korean business communities.

At the fair, 62 Korean companies will exhibit consumer products and home appliances, E&E products, industrial, beauty and cosmetics products, as well as machinery, automotive and medical products.

G-Fair, a one-to-one trade meeting, is the largest annual trade exhibition held in Korea to promote Korean products from the Gyeong-gi region.

It has been held in India, Turkey and Brazil, and this fair is the first to be held in Kuala Lumpur. -- Bernama

nazrey

November 15th, 2011, 10:59 AM

More German firms to invest in Malaysia
Published: 2011/11/15
http://www.btimes.com.my/Current_News/BTIMES/articles/20111115163612/Article/index_html

More German companies are expected to invest in Malaysia next year, says the Malaysian-German Chamber of Commerce and Industry.

Its executive director Alexander Stedtfeld said the companies will invest in Information Technology (IT) and logistics.

"I believe that Malaysia will remain a good destination for German companies to invest, as we see lots of small companies ready to invest.

"And a big company like B-Braun, which has established its business for almost 40 years in Malaysia, is investing another RM1.5 billion here," he told Bernama after meeting investors from the German state of Saarland in Kuala Lumpur today.

Stedtfeld urged Malaysian companies to invest in Saarland, citing the many opportunities offered by the state's strong technological development and research and product development (R&D).

"We see that Malaysia wants to be a high-income country, and I believe to achieve that requires investments in R&D and human resources (HR) development.

"It is not possible to just raise the salaries, it has to go hand in hand with higher productivity, and higher productivity can only be achieved by technological development," he said.

He said it might take some time for local companies to develop the technology, but they could save the time by venturing outside like in Saarland.

"There is a need for Malaysian companies to venture outside like in Germany and use the HR and R&D facilities to develop their business in Malaysia more quickly," he added.

He said the chamber also plans to train young Malaysians in order to bring the technology to Malaysia through a dual-system vocational programme in collaboration with Ministry of Human Resources.

"I have a meeting with them next week to accredit the vocational dual training programme based on the German model in Malaysia.

"We will start with business administration, logistics management and industrial management, and this programme is the same as in Germany," he added.

He said the programme aims to bring the apprentices up to diploma level and German chamber certificate level.

"We want to prove that it is possible to have it on a large scale, as here in Malaysia some large companies do not feel it's their responsibility to train young people.

"They depend on the government to do the training, which is completely different in Germany where the training programmes are very much a private sector initiative," he added. -- Bernama

nazrey

November 15th, 2011, 11:00 AM

Palm exports may exceed RM70b: Dompok
Published: 2011/11/15
http://www.btimes.com.my/Current_News/BTIMES/articles/20111115114522/Article/index_html

Malaysia’s palm oil exports may exceed RM70 billion this year, Plantation Industries and Commodities Minister Bernard Dompok told reporters in Kuala Lumpur today.

Output of the edible oil may be higher than 18 million metric tons in 2011, the minister said. -- Bloomberg

nazrey

November 16th, 2011, 05:17 AM

Apec leaders identify three growth areas that will benefit three billion citizens
Tuesday November 15, 2011
http://thestar.com.my/news/story.asp?file=/2011/11/15/nation/20111115102045&sec=nation

http://starstorage.blob.core.windows.net/archives/2011/11/15/nation/n_02apec.jpg

Smiling for the camera: (Front row left to right) Australia’s Prime Minister Julia
Gillard, Russia’s President Dmitry Medvedev, Obama and Japan’s Prime
Minister Yoshihiko Noda, (back row left to right) Najib, South Korea’s
President Lee Myung-bak, Mexico’s Secretary of the Economy Bruno Ferrari
and Papua New Guinea’s Prime Minister Peter O’Neill in a light mood as they
stand for a family photo at the Apec Summit in Honolulu, Hawaii on Sunday. – Reuters

HONOLULU: The 19th Asia-Pacific Economic Cooperation (Apec) summit ended here on Sunday with the 21-member economies calling for the creation of a seamless regional economy that will benefit its three billion citizens.

The leaders, in their Honolulu Declaration, identified three specific areas to achieve this objective, namely, increasing trade and investment, promoting green jobs and streamlining regulations which would encourage trade and job creation.

Host United States President Barack Obama, who read out the declaration, said that a crucial pre-requisite was to work together to spur quicker economic growth.

“The economies of this region have a critical role to play in addressing the imbalances and ensuring that growth is balanced and sustainable in the future,“ said Obama at the two-day meeting.

Prime Minister Datuk Seri Najib Tun Razak also attended the meeting together with other world leaders from China, Japan, Russia and Asean countries.

Obama said enormous progress has been made, but Apec's work towards a truly seamless regional economy is only in the beginning stages.

“Though economies of this region have a critical role to play in addressing the imbalances and ensuring that growth is balanced and sustainable in the future, regional economy is only in the beginning stages.

“We instruct our ministers and officials to carry forward this work and to strengthen the economic foundation of our shared Asia-Pacific community,” said Obama.

“We look forward to reviewing further progress when we convene again during Russia's hosting of Apec in 2012,” he added, referring to the next summit in Vladisvostok.

Further steps to open markets and facilitate regional trade include dismantling the top barriers that SMEs face, so as to boost their capacity in contributing to economic growth and job creation in Apec economies.

Obama said leaders also agreed to launch the Apec Travel Facilitation Initiative to explore ways to make travel in the region faster, easier, and more secure, as well as implement the Apec New Strategy for Structu-ral Reform plans by 2015 in order to reduce behind-the-border barriers and promote balanced, inclusive, and sustainable growth.

The leaders also pledged to implement the Apec Cross Border Privacy Rules System to reduce barriers to information flow, enhance consumer privacy, and promote interoperability across regional data privacy regimes.

Najib, who met Malaysian reporters after the meeting, said he had briefed other leaders on Malaysia's New Economic Model which has emerged as a game changer to the country's economy in generating foreign investment of US$60bil (RM188bil) and 40,000 jobs rather quickly.

He said Malaysia's holistic approach to the Economic Transformation Programme plus instituting economic reforms which differed from other countries, brought in greater benefits.

“While other countries brought changes to their bureaucracies, we made ours as part of an ambitious vision based on the New Economic Model.

“We have a long-term 10-year plan which has detailed programmes unlike other countries,” he added.

nazrey

November 16th, 2011, 05:34 AM

Hotel chain opens in Port Klang
Wednesday November 16, 2011
http://thestar.com.my/metro/story.asp?file=/2011/11/16/central/9888996&sec=central

http://starstorage.blob.core.windows.net/archives/2011/11/16/central/naresh.jpg

It’s official: (From left) Lim, Best Western International Area Representative-
Malaysia managing director Naresh Mohan, Western Capacity Sdn Bhd
executive director Tan Tiang Lai and group sales and marketing director–
Malaysia Jonathan Badman.

Best Western International has announced a new hotel known as the Best Western Plus in Port Klang.

The 139-room project is scheduled to be opened in 2015.

The project is a 31-storey tower with contemporary glass facade.

The hotel reception lobby is located on the ground floor whilst the sky lounge, fitness center and swimming pool are located on the 18th floor.

There are also 90 ‘small office variable office’ suites available for the local and international business travelers.

“We are thrilled to announce this exciting collaboration. Best Western International is a chain with 4,000 independently-owned and operated hotels around the world.

“Best Western Plusis suitable for Port Klang as it is a Free Trade Zone and surrounded by other international business development at 1Gateway.

“Foreign and local businessmen will find it convenient and comfortable to stay in and will enjoy the right ambience for conducting business,” said Lagenda Erajuta Sdn Bhd executive director Lim Thiam Huat.

“1Gateway is the latest and arguably the most exciting new development located on 7ha of prime land with two towers and a built-up area of more than 400,000 sq ft.

“Strategically speaking in terms of location, product and brand expansion, this is a valuable addition to Best Western’s growing Malaysian portfolio” said Best Western International vice president international operations for Asia and the Middle East Glenn de Souza.

The new property should enhance the value of all leading international and regional fashion boutiques, franchised restaurants and cafes, hypermarket, banks, business corporations and leisure ventures at 1Gateway.

For details, visit www.bestwestern.com

nazrey

November 17th, 2011, 05:32 AM

Palm oil exports set to hit all-time high of RM80b
BUOYANT RM66.8b worth of palm oil products have been shipped out in the first 10 months
Ooi Tee Ching Published: 2011/11/16
http://www.btimes.com.my/Current_News/BTIMES/articles/pamolf/Article/index_html

http://www.btimes.com.my/articles/pamolf/pix_middle

Malaysia's palm oil exports for this year is set to hit an all-time record of RM80 billion, thanks to higher average palm oil prices and sustained demand for the edible oil from emerging economies.

In the first 10 months, the Malaysian Palm Oil Board (MPOB) reported that the country had shipped out RM66.78 billion worth of palm oil products.

"This was buoyed by crude palm oil (CPO) price averaging above RM3,000 per tonne," MPOB chairman Datuk Seri Shahrir Samad said.

The current record was achieved in 2008 when palm oil shipment topped RM65 billion when CPO price averaged at RM2,800 per tonne then.

Malaysia's biggest palm oil client is China.

During his second official visit to Malaysia in April 2011, China Premier Wen Jiabao promised Prime Minister Datuk Seri Najib Razak that it will continue to buy big quantities of Malaysian palm oil.

As the largest vegetable oil consumer in the world, China makes up 15 per cent of global palm oil consumption. Palm oil is the second most consumed there, after soyaoil.

In the last few years, Shahrir noted that China has started to import more soyabeans instead of soyaoil. This is because the Chinese government wants more crushing activities domestically and more soya meal to feed its pig, cattle, dairy and poultry farms.

"Although we see this situation prevailing, we're not too worried. China has a big appetite for palm oil," he said.

Shahrir was speaking to reporters after the opening of the Palm Oil International Congress (Pipoc 2011) by Plantation Industry and Commodities Minister Tan Sri Bernard Dompok here yesterday.

In the first 10 months of this year, China bought 3.34 million tonnes of palm oil, about 13.5 per cent more than the same period last year.

"Also, India has bought 1.35 million tonnes, 33.6 per cent more from the same 10 months of last year," Shahrir added.

With economic activity in the US flat-lining, Christine Lagarde, head of the International Monetary Fund, last week warned that Europe's debt crisis risked plunging the global economy into a "lost decade".

Meanwhile, despite the gloomy global economic prospects, Dompok remains hopeful that Malaysia's commodity exports like palm oil and rubber will continue to help the nation achieve a 6 per cent econo-mic growth rate as forecast by Bank Negara.

On another matter, all licensed seed producers have announced that starting 2012, they will raise the price of oil palm seeds by 30 per cent to RM2.35 each from the current RM1.85.

They attributed the price hike to burgeoning labour cost.

Since September 2011, oil palm plantation firms have been paying a minimum wage of RM650 per month to plantation workers, with an additional productivity-linked RM200 incentive.

It is estimated that this 10 per cent wage hike for employees is costing the industry an additional RM300 million per year.

The arrears of wages and ex-gratia payment translate into an additional RM364 million.

On the whole, the implementation of the new wage and extra remuneration is inflating oil palm production costs.

The Home Ministry, too, has increased overall foreign worker levy by RM50, meaning employers in the plantation industry need to pay a higher levy of RM590 per worker.

In view of these inflationary pressures on the oil palm industry, Dompok was asked if the government is looking to raise the replanting budget for smallholders.

He said: "I think, for the time-being, RM7,000 per hectare will suffice."

Early this year, the government had estimated that from 2011 to 2013, some RM3 billion would go to smallholders to replant 375,000 hectares. There are 161,000 independent smallholders in Malaysia.

With 600,000 hectares, they account for 12.8 per cent of the country's planted area.

Independent smallholders with 40 hectares or less are entitled to a one-off replanting payment of RM7,000 per hectare.

In addition, monthly payments of RM500, for two years, will be accorded to each household that solely depends on oil palm planting.

Minister of Plantation Industries and Commodities Tan Sri Bernard Dompok (right) launching Pipoc 2011 in Kuala Lumpur yesterday. Looking on are MPOB chairman Datuk Seri Shahrir Abdul Samad (left) and Sime Darby chairman Tun Musa Hitam.

nazrey

November 18th, 2011, 06:59 AM

Currency swap accord
By DALJIT DHESI Thursday November 17, 2011
http://biz.thestar.com.my/news/story.asp?file=/2011/11/17/business/9919080&sec=business#13215962079861&if_height=621

http://biz.thestar.com.my/archives/2011/11/17/business/b_p2Zeti.JPG

National interest: Basci (left) and Zeti at the briefing. The approval process
for the currency swap not only lies with the central bank but involves other
relevant ministries, says Zeti.

Zeti: Malaysia, Turkey to focus on securing the agreement signing

KUALA LUMPUR: Malaysia and Turkey are looking at signing a bilateral currency swap agreement to facilitate trade activities between the two countries.

Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz, while not disclosing the timeframe for the agreement, said: “At this stage, we will focus on securing the signing of the agreement and then move towards operationalising it.

“Malaysia was one of the first to operationalise such an agreement with China. It involves several months of work for it to be operational.

“The approval process for the currency swap does not only lie with the central bank but involves other relevant ministries,'' she said at press briefing with Turkish central bank governor Dr Erdem Basci in conjunction with the meeting of central banks and monetary authorities of the Organisation of Islamic Cooperation (OIC) member countries.

Malaysia and China entered into the currency swap arrangement in February 2009. The agreement comes on the heels of a 200-billion-yuan currency agreement between China and the Hong Kong Monetary Authority in January, the same year.

A currency swap is an agreement whereby two countries agree to exchange a given amount of currency at an agreed-upon interest rate and a common maturity date for the exchange.

Basci, meanwhile, said Turkey was also planning to ink the currency swap agreement with China.

He said the deal was aimed at facilitating and promoting trade, given that both Malaysia and China had the experience in operating the facility.

He added the country had recently signed its first such agreement with Pakistan.

Commenting on the development of the Malaysia-China currency swap, she said the trade settlement in yuan had to date doubled since its inception and was growing.

On the points that were discussed at the OIC meetings to help member countries, Zeti said they related to sharing of experiences and looking at different approaches and policy options, as well as capacity-building programmes for central banks in member countries.

She said in this regard, OIC member central banks would continue to collaborate and exchange experiences and learn from each other.

Meanwhile, the governors and heads of delegations at the Meeting of Central Banks and Monetary Authorities of the OIC member countries said in a statement that the global financial crisis had reinforced the importance of an effective functioning financial sector in supporting sound and sustainable economic development.

The delegations agreed on the need for increased efforts to mitigate the destabilising consequences of these developments on their respective economies.

OIC member countries also acknowledged the financial sector has an essential role to efficiently intermediate funds towards productive economic activities and generating sustainable and balanced growth.

A well-developed financial sector could improve standards of living, create high-value employment, and drive the economic transformation process, they said.

nazrey

November 20th, 2011, 09:14 AM

Malaysia to take part in International Co-op Year
Published: 2011/11/19
http://www.btimes.com.my/Current_News/BTIMES/articles/cooperatives/Article/#ixzz1dTscEVvd

KUALA LUMPUR Malaysia, together with member nations of the International Co-operative Alliance (ICA) such as Switzerland, Japan, Iran, Canada and Brazil will launch the International Year of Cooperatives (IYC) in 2012.

Executive chairman of the Cooperatives Commission of Malaysia (CCM) Datuk Md Yusof Samsudin said the agreement was reached after the United Nations declared 2012 as the International Year of Co-operatives in October with the theme "Co-operative Enterprises Build A Better World".

"The IYC gives an opportunity to the co-operatives worldwide to join in the efforts to raise public awareness on ways of doing business through the co-operatives which place importance on the consumers instead of being driven by profit alone," he said in an interview.

The ICA is the largest non-governmental organisation responsible for uniting and providing advisory service to its 93 member nations.

Md Yusof said Malaysia would begin the year with the launching of the IYC by Domestic Trade, Co-operatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob at Taman Tasik Permaisuri on November 26.

The launch, which is targeting an attendance of over 10,000 people, will include a jogathon, an exhibition and sale of products produced by co-operatives, fishing competition, and street soccer.

In addition, the Cooperatives Commission of Malaysia as the IYC Celebration chairman would organise the 'International Seminar for Asia Pacific Region', 'Asean Co-operative Ministers Conference', National Co-operatives Day, International Convention on School Co-operatives and the 'International Rural Women's Day', he said.

A Co-operatives Expo would be held in November next year to conclude the IYC celebration programme, he said.

He projected the co-operatives movement to make a profit of over RM22.8 billion through the targeted formation of 10,000 co-operatives by the end of 2012.

nazrey

November 20th, 2011, 09:15 AM

Expert: Join forces to cut cost of going nuclear
Sharen KaurPublished: 2011/11/19
http://www.btimes.com.my/Current_News/BTIMES/articles/exon1818/Article/#ixzz1dTsvml43

http://www.btimes.com.my/articles/exon1818/pix_topright

Building a power plant may cost less for Malaysia if the government join forces with smaller Southeast Asian countries, said an ExxonMobil Corp energy expert.

David S. Reed, senior energy adviser for corporate strategic planning department at ExxonMobil, said there are possibilities where countries in the region including Malaysia can work together to build a few nuclear plants to cut cost and share the expertise.

"The cost is always higher when you build one plant instead of a few plants," Reed said at a media roundtable on ExxonMobil's "Outlook for Energy" here yesterday.

He said while it cost less than five US cents per kilowatt hour to produce electricity through other energy sources, it will be double for nuclear.

Malaysia is proposing to build its first nuclear power plant by 2021 as stipulated in the Economic Transformation Programme.

Building the twin-unit nuclear plant will require an investment of RM21.3 billion up to 2020.

The government has yet to make a final decision on the plan.

According to Energy, Green Technology and Water Minister Datuk Seri Peter Chin Fah Kui, various studies are needed to look into the ability and readiness of the country to manage a nuclear plant.

Reed said Malaysia will need to consider all its energy supplies to see which is more economical.

"Certainly the good thing to do is utilise the oil and gas supply here. Malaysia has a lot of natural gas plants in addition to the three liquefied natural gas terminals that are being constructed. This is a real positive step that Malaysian has taken.

"If those LNG terminals are operational right now, you will have the supply at your finger tips," he added.

patchay

November 20th, 2011, 09:21 AM

Reposting from Asian Economy & Business Forum thread:

Malaysia 3Q GDP climbed 5.8% beat estimates, revised 5.2% and 4.3% for Q1 and Q2 respectively
TheEdge Malaysia | The Malaysian Insider | TheStar Biz | Business Times
Updated: Friday November 18, 2011 MYT 6:12:58 PM

http://www.btimes.com.my/articles/20111117235735/pix_bottom
All wrong!!! :nuts: :ohno:

KUALA LUMPUR: The Malaysian economy registered a higher growth of 5.8% for the third quarter, riding on robust domestic demand with expansion in private and public sector spending, but whether the growth momentum could continue in the fourth quarter was still uncertain, said Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz.

The expansion beat market estimates with the Bloomberg median survey expecting a growth of only 4.8%. In the first and second quarter of 2011, gross domestic product (GDP) growth was revised to 5.2% from 4.9% and 4.3% from 4.0%. Export growth remained steady at 4.2 per cent as compared with 4.1 per cent in the second quarter.

Briefly:

In the third quarter, domestic demand expanded by 9.0% (5.6%), private consumption increased by 7.3% (6.4%), public consumption expanded by 21.7% (6.6%) and gross fixed capital formation increased by 6.1% (3.2%). The construction sector grew 3.0%. On the supply side, growth in most economic sectors strengthened in the third quarter, with agriculture sector expanding at the highest rate of 8.2% (6.9%), services sector expanding 7.0% (6.8%) and the manufacturing sector expanded at a faster pace of 5.1% (2.1%). All second quarter data are in parentheses.

The headline inflation rate, as measured by the change in the Consumer Price Index, rose to 3.4% on an annual basis in the third quarter.

Read More:
>>> http://www.businessweek.com/news/2011-11-18/malaysian-growth-quickens-as-exports-withstand-europe-threat.html
>>> http://www.theedgemalaysia.com/business-news/196435-flash-malaysias-economy-expanded-58-in-3q-vs-43-in-2q.html
>>> http://biz.thestar.com.my/news/story.asp?file=/2011/11/18/business/20111118180841&sec=business
>>> http://www.themalaysianinsider.com/malaysia/article/economy-grew-at-faster-pace-of-5.8pc-in-q3/

Panasonic to build solar panel plant in Malaysia - Nikkei
Reuters | Fri Nov 18, 2011 3:42am GMT

TOKYO, Nov 18 (Reuters) - Panasonic Corp will invest as much as 50 billion yen ($645 million) to build a solar panel plant in Malaysia, its first such facility overseas, as a strong yen pushes up production costs at home, two industry sources told Reuters.

The firm, which has been touting environmental and energy technology as key growth areas, dropped a plan to convert a television panel plant in Western Japan into a solar power factory in October because of the rising yen and an industry price war.

The Malaysia plant will start production in the financial year starting next April and bolster the company's solar output capacity by 50 percent to about 900 MW, the sources said.

Read More
>>> http://www.btimes.com.my/Current_News/BTIMES/articles/20111118163929/Article/index_html
>>> http://af.reuters.com/article/energyOilNews/idAFL3E7MI0E420111118

FDIs in solar industry and production of LED for Solar Panel is booming in M'sia:
Coming soon: Panansonic, LG ELectronics, Posco E&C

Recent investors: Solexel Inc, Robert BOSCH GmbH, Flextronics Solar, Tokuyama Corp, China Himin Solar Energy, Twin Creeks Inc, SunEdison, Osram Opto, SunPower Corp, EQ Solar, First Solar, Q-Cells AG, Fuji Electric, Rohm-Wako, Nichia

Mahindra Satyam expanding in Malaysia, moving software development from India to Cyberjaya
Business Times | Nov 18, 2011

Mahindra Satyam, a leading global consulting and information technology company offering business consulting services, hopes to further strengthen its position in Malaysia by focusing on four key sectors.

Mahindra Satyam's operations in Malaysia are part of its international expansion plans and it has been moving software development and delivery operations to its Global Solutions Centre (GSC) in Cyberjaya.

Read More >>> http://www.btimes.com.my/Current_News/BTIMES/articles/20111118140344/Article/index_html#ixzz1e3p26Vph

UK's BAE Systems chooses Malaysia as defense technology hub
BERNAMA | Nov 17 2011

KUALA LUMPUR, Nov 17 (Bernama) - Leading British defence technology company BAE Systems intends to expand its Kuala Lumpur office as a regional hub to fulfill its plans for Southeast Asia.

"We want to bring technology to Malaysia..."

Read More >>> http://www.bernama.com/bernama/v5/newsindex.php?id=627676

France's Accor to open 10 more hotels in Malaysia by 2014
TTG Asia November 2011

ACCOR will add 10 new properties to its current crop of four in Malaysia by 2014, the majority of which will belong to its Ibis brand—which is making its debut in the country.

The Ibis properties slated to open include the 500-key Ibis Styles Fraser Business Park Kuala Lumpur (2012), 156-key Ibis Styles Cheras (2012), 179-key Ibis Styles Johor Bahru (2013), 165-key Ibis Styles Kota Kinabalu (2013), 108-key Ibis Styles Lahad Datu (2013) and 118-key Ibis Styles Ipoh (2013).

Other properties on the cards include the 513-key Pullman Kuala Lumpur (2012), 318-key Pullman Port Dickson (2014), 320-key Novotel Melaka (2013) and 187-key Novotel Klang (2013).

Read More >>> http://www.ttgasia.com/article.php?article_id=2638#.TsiN0lbIgDI.twitter

ASEAN is doing well!

ASEAN Economic Results Q1-Q3 2011
Annualised rates including revised and seasonally adjusted rate, corresponding Y-o-Y basis

Indonesia: (1Q) +6.47% (2Q) +6.52% (3Q) +6.54% = Average +6.51%
Vietnam: (1Q) +5.43% (2Q) +5.67% (3Q) tba = Average +5.55%
Singapore: (1Q) +9.3% (2Q) +1.0% (3Q) +5.9% = Average +5.4%*
Malaysia: (1Q) +5.2% (2Q) +4.3% (3Q) +5.8% = Average +5.1%
Philippines: (1Q) +4.6% (2Q) +3.4% (3Q) tba = Average +4.0%
Thailand: (1Q) +3.2% (2Q) +2.6% (3Q) tba = Average +2.9%

tba = to be announced, perhaps next week
* Singapore provides quarter-on-quarter seasonally adjusted rates as well, which is a better indicator of the performance of the quarter at current times.

nazrey

November 20th, 2011, 09:39 AM

Domestic activities drive Malaysia growth
Rupa DamodaranPublished: 2011/11/19
http://www.btimes.com.my/Current_News/BTIMES/articles/20111119012043/Article/index_html#ixzz1dTt8kkV2

http://www.btimes.com.my/articles/20111119012043/pix_middle

Despite a challenging environment, the Malaysian economy to grew
strongly by 5.8 per cent during the third quarter, powered by domestic activities.

Bank Negara Malaysia (BNM) governor Tan Sri Dr Zeti Akhtar Aziz said private and public sector spending, together with firm regional demand for Malaysian commodities and nonelectrical
and electronic goods, contributed to the strong growth.

She, however, warned that as a highly open economy, Malaysia is likely to feel the impact of the risks to the global economy in the fourth quarter.

“We expect our domestic economy and demand to continue to sustain the growth,” Zeti said at a media briefing on the country’s economic growth here yesterday.

The momentum of public investments, which were slow during the first half of the year, picked up in the third quarter. This will continue in the fourth quarter, while year-end bonuses will also have an impact on domestic spending.

High commodity prices contributed to higher income of producers in the rural areas, which lent to higher spending. The Statistics Department yesterday also revised the growth numbers for the first and second quarters to 5.2 per cent and 4.3 per cent respectively.

During the third quarter spanning July till September, domestic demand grew by 9 per cent, while most of the economic sectors
improved except for mining, which has been contracting since the third quarter of 2010.

Agriculture grew by 8.2 per cent, services (7 per cent), manufacturing (5.1 per cent) and construction (3 per cent), while mining contracted by 6.1 per cent.

Credit Suisse economist Wu Kun Lung expects Malaysia’s gross domestic product (GDP) growth performance to continue to
outperform other small open economies in the next one to two quarters.

While continued uncertainties in the euro zone are likely to weigh on Malaysia’s exports, Wu expects private consumption growth to remain robust, partly thanks to high palm oil
prices.

"The impending fiscal boost from the government, in terms of rising development expenditure, cash transfers to the poor and civil servant pay rises should help boost domestic demand in the next few quarters," he said, adding that there is an upside risk to the gross domestic product forecast.

On the outlook for 2011, Zeti warned that the external environment remains challenging.

Close monitoring is required to gauge the impact on the economic growth and whether the domestic economy can offset the impact.

"Given the recent developments in Europe, even if we have a growth rate of 4.8 or 5 per cent, this will be considered very good growth (in such a challenging environment)."

The high degree of uncertainty is not positive for economic activities for their region but also other parts of the world, she added.

Zeti also said that the Overnight Policy Rate, the key benchmark interest rate which has been kept unchanged at 3 per cent, is supportive of growth.

http://www.btimes.com.my/articles/20111119012043/pix_topright

nazrey

November 20th, 2011, 09:41 AM

Government plans to engage with cyber hackers
Posted on July 6, 2011, Wednesday
http://www.theborneopost.com/2011/07/06/government-plans-to-engage-with-cyber-hackers/

PUTRAJAYA: The government plans to engage with cyber hackers to understand them better and put their skill to good use, Deputy Science, Technology and Innovation Minister Datuk Fadillah Yusof said yesterday.

It planned attending their annual conferences of cyber hackers who he said “should not be looked at only negatively”.

“CyberSecurity, the National Security Council, police and Malaysian Communications and Multimedia Commission must be with them so that we can get to know a bigger networking circle among the hackers,” he told reporters here.

The government would be better able to distinguish between good and bad hackers and also “learn … how to defend ourselves,” he added after opening a seminar on legal and technical aspects of cyber crime.

The three-day seminar is organised by the Attorney-General’s Chambers in collaboration with CyberSecurity Malaysia.

Meanwhile, CyberSecurity Chief Executive Officer Lt Col Datuk Husin Jazri said there were lessons learnt from the recent cyber hacking incident.

He said there was need to engage with young people who possess hacking talent.

“We need to engage with them so that we can turn them around to channel their dissatisfaction and grievances in a positive way,” he said. — Bernama

Cybersecurity Malaysia wins ethical hacking contest
Posted on November 18, 2011, Friday
http://www.theborneopost.com/2011/11/18/cybersecurity-malaysia-wins-ethical-hacking-contest/

KUALA LUMPUR: CyberSecurity Malaysia, the national specialist centre for cyber security, has won the Global CyberLympics Asia Pacific Championship, the first international team ethical hacking competition ever organised in Malaysia.

CyberSecurity Malaysia is an agency under the Ministry of Science, Technology and Innovation Mosti. A joint statement by CyberSecurity Malaysia and MOSTI issued here yesterday said the championship was held on November 15, at the annual Hacker Halted Asia Pacific Conference in Kuala Lumpur.

The competition was a series of ethical hacking games comprising both offensive and defensive security challenges, and was organised by the International Council of E-Commerce Consultants, a global organisation incorporated in New Mexico that certified individuals in cyber security and e-commerce.

The Global CyberLympics aimed to discover gifted hackers and cyber-defenders, raise awareness of ethics in information security as well as foster friendships and create cohesiveness among information security professionals. — Bernama

shiha

November 21st, 2011, 05:08 AM

hi, don't miss here! a big surprise here: http://tinyurl.com/7xvdcp8

nazrey

November 21st, 2011, 08:43 AM

http://www.bharian.com.my/articles/RM1_4bperuntukanKAR1SMA/pix_gal0

NAJIB bersalaman dengan Muhyiddin selepas melancarkan program KAR1SMA,
di Putrajaya, semalam. Turut kelihatan Menteri Pembangunan Wanita,
Keluarga dan Masyarakat, Datuk Seri Shahrizat Abdul Jalil.
http://www.bharian.com.my/articles/RM1_4bperuntukanKAR1SMA/Article/

KAR1SMA distributes RM1.4bil to 469,000
Monday November 21, 2011
http://thestar.com.my/news/story.asp?file=/2011/11/21/nation/9918557&sec=nation

KUALA LUMPUR: The 1Malaysia Social Welfare Programme (KAR1SMA), an initiative of the GTP, is aimed at improving the livelihood of low-income earners and ensuring that every citizen can enjoy the benefits of the country’s development.

Women, Family and Community Development Minister Datuk Seri Shahrizat Abdul Jalil said the programme, under the GTP’s Low-Income Households NKRA, is a government initiative formulated to provide assistance for the people in a holistic manner.

Through the programme, RM1.4bil was distributed to some 469,000 recipients through the ministry’s various KAR1SMA categories.

The total amount consisted of RM290mil for children, RM332mil for the disabled, RM455mil for senior citizens and RM303mil for community social programmes.

Shahrizat said KAR1SMA also allocated RM4.1mil for widows of army and police personnel as the Government’s way of honouring the sacrifices made by the soldiers and law enforcers who preserve the peace and security of the nation.

Other forms of assistance include monthly allowance, daycare services, disabled productivity incentive, Job Coach training programme for the disabled, training courses for women and single mothers, health check-ups and mammograms, babysitting services and productive welfare incentives.

nazrey

November 21st, 2011, 08:48 AM

http://www.pemandu.gov.my/

http://img826.imageshack.us/img826/5398/64709106.jpg
1,089 rural water projects to be done by year-end
Monday November 21, 2011
http://thestar.com.my/news/story.asp?file=/2011/11/21/nation/9918572&sec=nation

KUALA LUMPUR: The Government has, to date, spent RM1.97bil for the construction of 1,089 clean treated water supply projects in rural areas across the country and is expected to complete the project by the end of the year.

Rural and Regional Development Deputy Minister Datuk Hasan Malek said during a Dewan Rakyat sitting recently that the amount was an increase from RM413.3mil used for 554 projects last year and RM297.38mil for 671 projects in 2009.

He said the increase in allocation indicated that the Government had increased its efforts to provide basic amenities for the people living in rural areas.

In other developments, he said the Government had spent RM1.36bil for 582 electricity supply projects in rural areas this year, which would also be fully completed by next month.

He said 54,374 houses had been constructed in rural areas since 2009 under the Housing Assistance Programme.

The implementation of basic amenities such as the supply of clean treated water, electricity and housing assistance comes under the GTP’s Rural Basic Infrastructure NKRA initiative.

nazrey

November 22nd, 2011, 06:46 AM

Malaysia to adopt international accounting system
Tuesday November 22, 2011
http://thestar.com.my/news/story.asp?file=/2011/11/22/nation/9947978&sec=nation

KOTA KINABALU: Malaysia wants to learn from countries in adopting an international accounting system before implementing it next year, Inland Revenue Board (IRB) chief executive Datuk Dr Mohd Shukor Mahfar said.

He said Malaysia was on track to adopt the International Financial Reporting Standard (IFRS) by 2012 and the first to use the system would be public limited companies.

“Since it is a new thing here, we reckon it will take up to five years for the full implementation of IFRS in Malaysia,” he said after the opening of the 41st Study Group on Asian Tax Administration and Research (SGATAR) by Chief Minister Datuk Musa Aman here yesterday.

Malaysia is one of the 16-member grouping that includes Australia. China, Hong Kong, Macau, Japan, South Korea, Mongolia, New Zealand, Papua New Guinea,the Philippines, Singapore, Taiwan, Vietnam and Thailand.

He said Malaysian firms would need time to fully adopt IFRS, describing it as a more detailed accounting report.

Earlier in his speech, Dr Mohd Shukor said it was crucial for SGATAR members to fully adopt IFRS due to the mobility of capital and finance.

“There is a need to have a standard accounting system so as to present the same picture for an entity in the various tax jurisdictions,” he said, adding that IFRS was already being used in 100 countries.

“As the tax fraternity, including accountants, grapple to understand the application and impact of IFRS taxation, we as tax administrators are doing the necessary to better understand it,” Dr Mohd Shukor added.

In his speech, Musa said that an improved delivery service and increased yearly revenue collection was among the IRB's achievements.

“I'm sure all these were possible through taxpayer service, education programmes, IT innovation, transparency in audit, investment in human capital, good governance and leadership,” he added.
UN picks Malaysia for accounting standards centre
By ZUHRIN AZAM AHMAD Tuesday July 19, 2011
http://thestar.com.my/news/story.asp?file=/2011/7/19/nation/9124724&sec=nation#13110372394251&if_height=418

PUTRAJAYA: The United Nations has set up its global training and service centre for International Public Sector Accounting Standards (IPSAS) here.

The country beat a list of UN member states from Latin America, East and Southern Africa, Eastern Europe and Asia for the honour.

UN undersecretary-general Rebeca Grynspan said Malaysia’s vast experience in establishing centres of excellence and shared service centres for global firms and organisations were too good to be ignored.

She said the country’s well established accounting profession and skills of its people, including the availability of highly skilled accountancy professionals, were also major attractions.

“It has reliable infrastructure and the support by the Government to attract and retain centres of excellence,” she said yesterday.

Grynspan was speaking at the announcement of the centre at the Finance Ministry here by Treasury secretary-general Tan Sri Dr Wan Abdul Aziz Wan Abdullah.

The centre is under the UN Development Programme (UNDP) and is being established to support UNDP’s adoption of IPSAS from January next year.

The centre, which will be located in Cyberjaya, will support the three most challenging areas of UNDP’s financial management processes – revenue, asset and expense management.

“This UNDP Global Shared Services Centre (GSSC) should be viewed as consistent with and a contribution to Malaysia’s New Economic Model, the 10th Malaysia Plan and the Economic Transformation Programme.

“An agreement to establish the GSSC in Malaysia is a further sign of the success of Malaysia’s strategy to become a regional and global hub for professional financial services,” she said, adding that the agreement was for 15 years.

Grynspan said the centre would have an annual operational funding of US$3mil (RM9mil) from the UNDP and it could be permanently located in Malaysia if it achieved its objectives.

Dr Wan Abdul Aziz said the centre would be staffed mostly by Malaysians.

nazrey

November 22nd, 2011, 06:55 AM

Smarter cities can propel Malaysia toward developed-nation status
Published: Monday November 21, 2011 MYT 6:25:00 PM
http://biz.thestar.com.my/news/story.asp?file=/2011/11/21/business/20111121183200&sec=business

KUALA LUMPUR: Investing in "smarter cities" may counter the effects of a volatile external environment on Malaysia's growth.

The World Bank in its latest Malaysia Economic Monitor report said cities were central to the country's high-income aspirations.

“Cities create proximity and facilitate the flow of knowledge that drives innovation," it said.

The World Bank's country director for Malaysia Annette Dixon said in a statement that Malaysia needs to start creating the environment for smart cities today

"Decisions about city development today are locked in for many years to come,” she said.

The World Bank said Malaysia needs coordinated policies addressed at making its cities smarter, noting that a key challenge would be to increase the volume and quality of skilled workers in its cities.
“This will require improving higher education and quality of life in cities to retain local talent and attract foreign skilled labour that can contribute to innovation," it said

Furthermore, it added that reducing greenhouse gas emissions and improving solid waste management were also critical challenges to achieve sustainable growth in cities.

nazrey

November 22nd, 2011, 08:23 AM

RM30b boost with bio-economy
By RUPINDER SINGH
http://www.nst.com.my/local/general/rm30b-boost-with-bio-economy-1.9198#ixzz1ePYpMyS2

http://www.nst.com.my/polopoly_fs/1.9200.1321895048!/image/image.jpg_gen/derivatives/landscape_454/image.jpg

Prime Minister Datuk Seri Najib Razak being briefed by Professor Dr Chan Lai
Keng (right) from Universiti Sains Malaysia on the use of the ‘Equsains Airlift
Culture Vessel’ during his visit to the BioMalaysia 2011 Conference and
Exhibition at the Kuala Lumpur Convention Centre yesterday. - Pic: SAIRIEN NAFIS

Prime Minister Datuk Seri Najib Razak yesterday launched the new National Biomass Strategy (NBS) to enhance Malaysia's competitiveness as a bio-economy and biotechnology hub.

Najib said the NBS themed "Biomass to Wealth" would put "Malaysia on the map as the world leader in new, innovative and sustainable industries".

The new initiative, he added, had the potential to generate RM30 billion in new income by 2020 and create 70,000 new jobs for Malaysians.

"Through the creation of new high value industries driven by locally developed innovation, including in bio-based chemicals and bio-energy, the Biomass Strategy will provide the platform for creating 70,000 new jobs. 40,000 of those will be high skilled," he said at the launch of BioMalaysia 2011 and the 6th Pacific Rim Summit on Industrial Biotechnology and Bioenergy here yesterday.

He said the NBS could also deliver new growth areas, encourage development of new homegrown technologies and create more export opportunities.

"The Biomass Strategy has a clear action plan with immediate initiatives and new Entry Point Projects (EPPs) for government and industry to drive this opportunity.

"We are excited about these prospects and we are optimistic of performing well in this sector," Najib added.

The NBS is developed by Agensi Inovasi Malaysia (AIM) in close collaboration with key government agencies, universities and business leaders.

Najib also announced that the the Ministry of Science, Technology and Innovation (MOSTI) and Biotech Corp and other agencies would roll out a bio-economy roadmap by early next year.
The roadmap would complement the current National Biotechnology Policy (NBP) and would set a target for high growth in the coming years.

"We will be looking at some key focus areas in the industrial, health and agriculture sectors which will leverage on the latest approaches in biomining, bioconversions, bioextractions and key knowledge technologies such as genomics, proteomics and metabolomics.

"As the world's largest exporter of palm oil, Malaysia generates a lot of biomass which holds tremendous potential for high value added applications ranging from the biofuels sector to bioplastics and cellulosic feedstock."

With an estimated value of RM33.4 billion in 2015, biomass is targeted to be a vital contributor to the agricultural and industrial biotechnology sectors.

armand56

November 23rd, 2011, 04:48 AM

Further to The Star's "Smarter Cities" story - a related article from The Wall Street Journal with some interesting insights:

Kuala Lumpur: A Southeast Asian Los Angeles?

Resembling a “mini Los Angeles” is not a good thing for livability and attracting talent, at least not according to the World Bank.

In a recent report about Malaysia, the World Bank said Malaysian cities need to adopt more compact urban forms and start investing in “smarter cities” to improve livability and attract talent. In their current form, the report says that Malaysia’s cities have “significant urban sprawl” and declining population densities – each looking more like a chaotic and messy “mini Los Angeles” rather than a densely-populated Asian city.

While many consider Kuala Lumpur more livable than the also-chaotic Southeast Asian cities of Jakarta and Bangkok, the report highlighted ways that urban planning in Malaysia could enhance investment and economic growth in the country.

The report references Kuala Lumpur specifically, pointing out that it abandoned a “tight fitting, heritage house style” as adopted by Malaysia’s neighbor, Singapore, and “sprawled to accommodate unrestrained motorization.”

“Cities are central to Malaysia’s high income aspirations,” said Annette Dixon, the World Bank’s Country Director for Malaysia, in a statement released during the launch of the World Bank’s November 2011 edition of the Malaysia Economic Monitor. “In order to achieve high income country status by 2020, Malaysia needs to start creating the environment for smart cities today.”

The World Bank believes that “smart cities” are crucial for retaining local talent and attracting foreign skilled labor that is able to contribute to innovation. Noting that universities are an important part of the fabric of a city, the report recommends that Malaysia increase its number and quality of skilled workers by improving educational institutions.

In 2009, Malaysia was ranked as the 11th most desirable destination in the world for international students according to the Institute of International Education, but none of Malaysia’s universities are listed as the top 400 in the world according to the latest Times Higher Education’s World University Ranking. The National University of Singapore (NUS) currently ranks as the 40th best university in the world.

Despite these criticisms, the report did note “important initiatives” that Malaysia has taken towards building the infrastructure for a “smart city,” particularly in addressing shortages in public transportation.

The report highlights the Kuala Lumpur Mass Rapid Transit (KL MRT), which, according to the KL MRT website, aims at significantly increasing the current “inadequate” rail service and integrating existing rail networks across the greater Kuala Lumpur metropolitan area. The World Bank report says the implementation of this rail network is “progressing rapidly” and will serve an area with a population of 1.2 million. Further, it mentions Johor’s rapid transit system (RTS) which may link with the Thomson MRT line in Singapore, slated for completion in 2018, which will link the 60,000 – 70 000 people commuting between the cities of Johor Bahru and Singapore daily.

The report also addresses the need for Malaysia to go green, following the drive across the globe to create more “sustainable” cities. Reducing greenhouse gas emissions and improving solid waste management will help achieve sustainable growth in cities, it says, something that is made difficult when a city is sprawling. This will bring about economic gains and generate business opportunities for Malaysia, the report said.

Though large-scale flooding of the magnitude that Thailand has witnessed is considered unlikely in Malaysia, the report noted that Malaysia’s urban centers are concentrated in natural disaster-prone areas. The report said that the recent example of flooding in Ayutthaya, which heavily impacted supply chains in Thailand, is an example that Malaysia also needs to do more to mitigate climate change and manage the risk of natural disasters to ensure sustained economic growth.

“Malaysian cities are especially vulnerable to floods and landslides,” said Ms. Dixon. “To reduce the risks related to these hazards, Malaysia would benefit from environmental restoration and integration of risk reduction into development planning.”

- http://blogs.wsj.com/searealtime/2011/11/22/kuala-lumpur-a-southeast-asian-los-angeles/?mod=google_news_blog

laoshu

November 23rd, 2011, 07:34 AM

hi, guys, do you know this? bit.ly/vuuBVb

nazrey

November 25th, 2011, 05:41 AM

Malaysia jadi pusat peluasan Colas Rail
25 November 2011
http://www.utusan.com.my/utusan/info.asp?y=2011&dt=1125&pub=Utusan_Malaysia&sec=Korporat&pg=ko_03.htm

KUALA LUMPUR 24 Nov. - Syarikat kontraktor landasan kereta api Perancis, Colas Rail mahu menjadikan Malaysia sebagai pusat peluasan operasinya di rantau Asia Tenggara pada masa depan.

Colas Rail menerusi anak syarikatnya Colas Rail Asia Sdn. Bhd. (Colas Rail Asia) telah membuka ibu pejabat serantau di negara ini selepas berjaya memperoleh tender projek sambungan landasan LRT Kelana Jaya bernilai RM673.920 juta.

Pengerusi dan Ketua Pegawai Eksekutifnya, Patrick Guenole berkata, kehadiran Colas Rail di Malaysia adalah tepat pada masanya kerana beberapa tahun akan datang permintaan terhadap pengangkutan keretapi dijangka meningkat dengan ketara.

''Berdasarkan pengalaman dan kepakaran kami dalam industri ini, kami yakin mampu memenuhi kehendak bukan sahaja di negara ini malah di rantau ini juga.

''Malaysia akan menjadi platform kepada Colas Rail merebut sebarang tawaran tender pembinaan landasan di Singapura, Hong Kong, Thailand, Indonesia dan Vietnam pada masa depan,'' katanya ketika berucap pada majlis Pelancaran Colas Rail Asia, di sini semalam.

Turut hadir Ketua Pegawai Eksekutif Colas Rail Asia, Richard Fostier, Pengerusi Suruhanjaya Pengangkutan Awam Darat (SPAD), Tan Sri Syed Hamid Albar dan Ketua Pegawai Eksekutif CMC Engineering, Datuk Abd. Rahman Yusof.

Guenole berkata, bagi mencapai matlamat tersebut, Colas Rail akan menjadikan Malaysia sebagai rakan strategik dan akan melakukan pelaburan dari segi teknologi serta kemahiran di negara ini.

''Kami mempunyai perancangan jangka panjang di Malaysia dan merancang mengukuhkan kedudukan di sini serta rantau ini.

''Kehadiran kami juga akan membantu melahirkan jurutera tempatan yang berkemahiran dan bertaraf antarabangsa dalam industri ini,'' jelasnya.

Sementara itu, Fostier pula berkata, Colas Rail mempunyai kepakaran dalam keseluruhan bahagian dalam industri ini meliputi sistem kereta api metro, LRT, tramways, klasik dan berkelajuan tinggi.

''Tidak mustahil satu hari nanti kami akan terlibat dengan pembinaan projek kereta api pantas Kuala Lumpur-Singapura pada masa depan kerana sudah membuktikan keupayaan di Eropah dan Afrika.

''Berdasarkan jaminan keselamatan dan pelbagai tawaran projek baharu kami mahu menjadi pelabur jangka masa panjang di Malaysia dan berkembang bersama rakan kongsi tempatan,'' jelasnya.

http://www.colasrail.co.uk/

Colas Rail is a British rail freight company, formerly known as Seco Rail. Seco Rail was the name of the UK subsidiary of the French railway engineering company SECO which operates in Europe. SECO (Société d'Études et de Construction d'Outillage) was founded in 1931. In 2000 SECO was purchased by the road building company Colas. Whilst still based mainly in France, the company has subsidiaries in the UK and Belgium, and in 2006 became a train operator (Train operating company in the UK) through its transportation of aggregates. In 2007 Colas merged its Seco Rail operations with its other rail subsidiary AMEC-Spie, under the new operating name of Colas Rail, and also acquired the Plant division of Carillion Rail which was included in the new group.

nazrey

November 25th, 2011, 05:46 AM

FDI surge expected 9-month figure surpasses last year’s RM29.3bil
By EUGENE MAHALINGAM Friday November 25, 2011
http://biz.thestar.com.my/news/story.asp?file=/2011/11/25/business/9972880&sec=business

http://biz.thestar.com.my/archives/2011/11/25/business/p1-mustapaqtchtp2.JPG

SINGAPORE: Malaysia’s foreign direct investment (FDI) for the first nine months this year has surpassed the figure recorded in 2010, according to International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

“Based on current trends (in light of the economic concerns in Europe and the United States), FDI for the first three quarters will exceed the US$9.1bil (RM29.3bil) achieved for the whole of last year,” he said at the Malaysia-Singapore Business Forum 2011 yesterday.

Mustapa said the FDI figure for the first three quarters of 2011 would be revealed soon.

“We saw a pick-up in FDI this year. Malaysia has been blessed in terms of FDI and private investments,” he said, without elaborating.

On the outlook for 2012, he said: “Next year, it’s unknown. But with good growth in China, India and Asean, the prospects look good for Malaysia.”

FDI surged to RM21.3bil in the first six months of 2011 compared with RM12.1bil in the previous corresponding period.

The Government had targeted total FDI to hit US$10bil (RM32bil) this year.

Separately, Mustapa encouraged Singaporean companies to tap opportunities in Malaysia in areas such as the east coast.

“Don’t just look at Iskandar (Malaysia) but also areas where Singapore is under-represented, such as the east coast or Sabah and Sarawak.”

He encouraged Singaporean companies to invest in the local services sector and high-end electronics.

Singapore’s Trade and Industry Minister Lim Hng Kiang said one viable sector that Malaysia and Singapore could benefit from was in “cruise tourism”.

He said the cruise business in Europe and the United States was huge and that it should be replicated by both Malaysia and Singapore.

Lim also advised Singaporean companies to keep abreast of developments in Malaysia, which he said had been “moving fast” of late.

“Singaporean companies should take advantage of this,” he said, adding that Malaysia and Singapore should find ways to complement and compete with each other in ways that would benefit both nations.

Singapore is Malaysia’s largest trading partner. From January to September 2011, trade between the two countries grew 20.5% to RM120.06bil from RM107.22bil a year earlier.

On another note, Mustapa said the Government would embark on a second pre-feasibility study on the viability of the proposed Kuala Lumpur-Singapore high-speed rail system.

He said the first study, “Pre-feasibility 1A,” was concluded in September while the second study, “Pre-feasibility 1B,” would begin next year and could take eight to nine months to complete.

The Malaysia-Singapore Business Forum 2011 was hosted by the Malaysian Investment Development Authority, the Malaysia External Trade Development Corp and the Ministry of International Trade and Industry, and was co-organised by the Singapore Business Federation and International Enterprise Singapore.

Themed “Enhancing Strategic Partnership,” the event was attended by over 700 participants.

It featured a panel discussion with speakers including Mustapa, Lim, Singapore Business Foundation chairman Tony Chew, Singapore Aerospace Manufacturing Pte Ltd senior vice-president for corporate development Oh Chong Ho, YCH Group Ltd chief executive officer Robert Yap and Malaysia-Singapore Business Council representative Datuk Ghazali Yusoff.

The panel discussion was moderated by former CNN and CNBC personality Lorraine Hahn.

nazrey

November 26th, 2011, 10:36 AM

Source: United Nation Development Program (UNDP)
- http://hdr.undp.org/en/media/HDR_2011_EN_Complete.pdf
- http://hdr.undp.org/en/reports/global/hdr2011/download/

http://www.unostamps.nl/subject_undp_bestanden/image002.jpg

M'sia has high human development, says report
Updated: Friday November 25, 2011 MYT 2:38:15 PM
http://thestar.com.my/news/story.asp?file=/2011/11/25/nation/20111125143845&sec=nation

KUALA LUMPUR: Malaysia is ranked 61 among 187 countries, placing it in the high human development category, on the Global Human Development Report 2011.

Within Asean, Malaysia at 61, is well ahead of Thailand at 103, Indonesia at 124 and Vietnam at 128. Singapore is at 26 and Brunei at 33.

Norway, Australia and the Netherlands lead the world in the 2011 Human Development Index, while the Democratic Republic of Congo, Niger and Burundi are at the bottom of the table.

United Nations resident coordinator and United Nations Development Programme (UNDP) resident representative for Malaysia, Singapore and Brunei, Kamal Malhotra, said Malaysia needed to be more proactive and coherent in dealing with a range of inequalities that remained a major challenge.

"Environmental measures such as eco-labelling which enable consumers to make informed decisions on energy-efficient products should not further skew the access of such products in favour of the rich, further exacerbating existing inequalities," he added.

He said Malaysia would have its own National Human Development Report next year.

"It is a significant breakthrough because many countries around the world have been producing national-level reports that are up to date.

"There are 622 national or sub-national human development reports that have been published worldwide," he told a press conference after the launching of the UNDP Global Human Development Report 2011.

He said the team on Malaysia's National Human Development Report 2012 would focus on many current issues such as poverty, health, education, equity growth and income.

Malhotra pointed out that the report would be indepth with details showcasing the country's development.BERNAMA

nazrey

November 26th, 2011, 10:49 AM

Source: Vision of Humanity
http://www.visionofhumanity.org/gpi-data/#/2011/scor

http://multivu.prnewswire.com/mnr/prne/iep/42434/images/42434-gpilogo.jpg
Malaysia safest country in Southeast Asia – Lee
Posted on November 26, 2011, Saturday
http://www.theborneopost.com/2011/11/26/malaysia-safest-country-in-southeast-asia-%e2%80%93-lee/#ixzz1dfhoaJ00

MIRI: The Global Peace Index has ranked Malaysia as the safest country in Southeast Asia and the fourth safest in the Asia Pacific after New Zealand, Japan and Australia.

Assistant Minister of Communications, Datuk Lee Kim Shin disclosed that Malaysia also ranked 19th as the safest country among 153 countries, compared to last year, when the country was at number 22.

“As Malaysians, we should be grateful to be living in a peaceful and harmonious environment.

“In fact, our country is the envy of some countries when it comes to issues concerning safety,” he said at the Join Community Crime Prevention Programme on Thursday night.

He was representing Second Minister of Planning and Public Utilities, Datuk Amar Awang Tengah Ali Hasan in officiating at the event held at Permyjaya New Township.

Also present was DCP Datuk Mortadza Nazarene.

In his address, Lee praised the effort of the local community here for contributing to the increase in number of Voluntary Patrolling Scheme (SRS) members.

He pointed out that there were currently a total 28 SRS areas in Miri and urged the Neighbourhood Watch Committee (RT) to set up more SRS units to patrol their areas.

“SRS is effective in instilling the spirit of neighbourliness among residents to voluntarily guard and patrol their residential area for the sake of safety and comfort of the neighbourhood as a whole,” he said.

Lee added that among the objectives of SRS was to encourage active participation of residents in carrying out security measures in areas with high crime rate and social problems.

“We hope the scheme can help the authorities, especially the police and other enforcement agencies reduce the crime rate in residential areas.

“I am confident that with collaboration and support from all parties, we can help the government in curbing crime effectively and in an integrated manner,” he said.

The Join Community Crime Prevention Programme is a collaborative effort between the police, SRS, RT, Civil Defence Department, Miri Islamic Department, Customs Department, Immigration Department, Maritime Enforcement Agency and others.

nazrey

November 26th, 2011, 10:54 AM

Malaysia to have own National Human Development Report by 2012
Posted on November 26, 2011, Saturday
http://www.theborneopost.com/2011/11/26/malaysia-to-have-own-national-human-development-report-by-2012/

KUALA LUMPUR: Malaysia is expected to have its own National Human Development Report by 2012.

United Nations resident coordinator and United Nations Development Programme (UNDP) resident representative for Malaysia, Singapore and Brunei Kamal Malhotra said that currently, an agreement had been made with the government on the process of producing the country’s development report.

“It is a significant breakthrough because many countries around the world have been producing national-level reports that are up to date. There are 622 national or sub-national human development reports that have been published worldwide,” he told a press conference after the launching of the UNDP Global Human Development Report 2011, here, yesterday.

He said the team on Malaysia’s National Human Development Report 2012 would focus on many current issues such as poverty, health, education, equity growth and income.

Malhotra also pointed out that the report would have more indepth details showcasing the country’s development in order to have it as a guide for improvement at the global level.

On the Global Human Development Report 2011, he said Malaysia ranked 61 among 187 countries, roughly a third of the way down from the top, placing it in the high human development category.

“However, within the Asean region, Malaysia at 61, is well ahead of Thailand at 103, Indonesia at 124 and Vietnam at 128,” he said.

Singapore is at 26 and Brunei at 33.

Norway, Australia and the Netherlands lead the world in the 2011 Human Development Index, while the Democratic Republic of Congo, Niger and Burundi are at the bottom of the table. — Bernama

nazrey

November 26th, 2011, 10:57 AM

US$25-US$30 billion to be issued in M’sia next year
Posted on November 26, 2011, Saturday
http://www.theborneopost.com/2011/11/26/us25-us30-billion-to-be-issued-in-m%e2%80%99sia-next-year/#ixzz1dfkZlRJ9

KUALA LUMPUR: A total of US$25-US$30 billion worth of new sukuk (Islamic bond) issuances are expected to be issued in Malaysia next year despite a slow down in the global economy.

CIMB Islamic Bank Bhd chief executive officer Badlisyah Abdul Ghani said sukuk currently accounted for 38.2 per cent of the total bonds outstanding.

In the first half of this year, the Securities Commission had approved 19 sukuk issues worth RM32 billion, of which RM24.6 billion has been issued.

“In general, 2007 was the record year for sukuk issuances, which was roughly about US$24 billion to US$25 billion. This year we anticipate to close higher in terms of total new sukuk issuances.

“Next year, we aim at the same level. Of course, we always aspire to do more but is a bit difficult to say every year we will beat the previous year’s record.

“Between US$25 to US$30 billion sukuk issuance year-on-year is something that is reasonable to anticipate,” he told reporters on the sidelines of the 16th Malaysian Capital Market Summit here yesterday.

At global level, CIMB has done roughly about US$5 billion issuance, accounting for 19 per cent world market share, placing the banking group as number one.

Earlier, Badlisyah, one of the panellists at the summit, spoke on the challenges and prospects of the bond market.

On the acceptance of the ringgit as a denominator for sukuk, Badlisyah said investors were now looking at the ringgit.

“They are a bit more sophisticated in terms of their need to diversify exposures. Ringgit is being looked into by investors,” he said.

Badlisyah said Malaysian Islamic bonds are tightly-priced due to high quality issuers.

“This is the main reason why investors from the GCC (Gulf Cooperation Council) countries don’t come in to buy our papers because the returns they get from investing is in ringgit papers,” he said.

On this note, he said, Malaysia needs to develop over time high-yield income market.

Badlisyah said the main challenge in sukuk was whether an issuer or an investor can easily undertake sukuk transactions.

“If the challenges in enabling transactions are resolved, the volume can be even more,” he added. — Bernama

nazrey

November 27th, 2011, 04:56 AM

Panasonic in RM1.8b solar venture
June Ramlee Published: 2011/11/26
http://www.btimes.com.my/Current_News/BTIMES/articles/20111126002602/Article/index_html

The solar cell plant at the Kulim Hi-Tech Park is expected to start production in December 2012

Panasonic Corp plans to invest 45 billion yen (about RM1.8 billion) to build a solar cell factory in Malaysia.

The Osaka-based electronics giant will set up Panasonic Energy Malaysia Sdn Bhd next month to handle the venture at the Kulim Hi-Tech Park in Kedah. Production is expected to kick off in December 2012, Panasonic said in a statement posted on its website yesterday.

It is learnt that on top of the 45 billion yen, Panasonic is also setting aside 22.5 billion yen (about RM1 billion) as capital for Panasonic Energy.

The plant will have a production capacity of 300 megawatt and employ some 1,500 people. It will have a built-up area of about 70,000 square metres.

Panasonic said the solar cell market is expected to grow further with environmental awareness increasing globally and the introduction of subsidy systems and Feed-in Tariff schemes in Japan.

“Robust demand is expected particularly in the residential sector, the main target of the Panasonic HIT (Heterojunction with Intrinsic Thin-layer) solar modules.

“The new factory, to be built in the Kulim Hi Tech Park, will not only help Panasonic meet this the growing demand, but also strengthen the HIT module’s cost competitiveness with the vertically-integrated production,” the company said.

Panasonic will sell its solar modules as an individual product as well as part of a system combined with storage batteries.

Panasonic is a worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs.

The company, which has several subsidiaries in Malaysia, recorded consolidated net sales of 8.69 trillion yen (RM335 billion) as of March 31 2011.

The company’s shares are listed on the Tokyo, Osaka, Nagoya and New York stock exchanges.

nazrey

November 28th, 2011, 05:51 AM

CJ Cheil, Arkema plan RM2b biotech plant
Published: 2011/08/12
http://www.btimes.com.my/Current_News/BTIMES/articles/20110812120946/Article/index_html

CJ CheilJedang Corp, South Korea’s biggest food processor, and French chemicals company Arkema SA will jointly invest RM2 billion (US$669 million) in a Malaysian biotechnology plant.

The venture is the largest foreign investment to date in the Southeast Asian nation’s biotechnology industry and will manufacture thiochemicals and bio-methionine for use in animal feed stocks, the government said in a statement.

“The project is expected to generate about RM20 billion of cumulative sales by 2020 and provide employment opportunities,” Malaysian Prime Minister Najib Razak said in the statement issued at a signing ceremony today in Putrajaya, outside Kuala Lumpur.

Malaysia expects foreign direct investment to exceed US$10 billion this year as companies invest in electronics, solar energy, gas and oil, International Trade and Industry Minister Mustapa Mohamed said on Aug 10. The government last year identified a total US$444 billion worth of private-sector projects it wanted to champion by 2020 as Malaysia strives to become a high-income nation.

The plant will be located in northern Terengganu state and use the nearby Kuantan and Kemamam container ports, Dominique Namer, Arkema’s Asia-Pacific president, told reporters. “Raw materials can be easily obtained” in the area, he said.

CheilJedang and Arkema will invest over 10 years, the statement said. -- Bloomberg
RM30b boost with bio-economy
By RUPINDER SINGH
http://www.nst.com.my/local/general/rm30b-boost-with-bio-economy-1.9198#ixzz1ePYpMyS2

http://www.nst.com.my/polopoly_fs/1.9200.1321895048!/image/image.jpg_gen/derivatives/landscape_454/image.jpg

Prime Minister Datuk Seri Najib Razak being briefed by Professor Dr Chan Lai
Keng (right) from Universiti Sains Malaysia on the use of the ‘Equsains Airlift
Culture Vessel’ during his visit to the BioMalaysia 2011 Conference and
Exhibition at the Kuala Lumpur Convention Centre yesterday. - Pic: SAIRIEN NAFIS

Prime Minister Datuk Seri Najib Razak yesterday launched the new National Biomass Strategy (NBS) to enhance Malaysia's competitiveness as a bio-economy and biotechnology hub.

Najib said the NBS themed "Biomass to Wealth" would put "Malaysia on the map as the world leader in new, innovative and sustainable industries".

The new initiative, he added, had the potential to generate RM30 billion in new income by 2020 and create 70,000 new jobs for Malaysians.

"Through the creation of new high value industries driven by locally developed innovation, including in bio-based chemicals and bio-energy, the Biomass Strategy will provide the platform for creating 70,000 new jobs. 40,000 of those will be high skilled," he said at the launch of BioMalaysia 2011 and the 6th Pacific Rim Summit on Industrial Biotechnology and Bioenergy here yesterday.

He said the NBS could also deliver new growth areas, encourage development of new homegrown technologies and create more export opportunities.

"The Biomass Strategy has a clear action plan with immediate initiatives and new Entry Point Projects (EPPs) for government and industry to drive this opportunity.

"We are excited about these prospects and we are optimistic of performing well in this sector," Najib added.

The NBS is developed by Agensi Inovasi Malaysia (AIM) in close collaboration with key government agencies, universities and business leaders.

Najib also announced that the the Ministry of Science, Technology and Innovation (MOSTI) and Biotech Corp and other agencies would roll out a bio-economy roadmap by early next year.
The roadmap would complement the current National Biotechnology Policy (NBP) and would set a target for high growth in the coming years.

"We will be looking at some key focus areas in the industrial, health and agriculture sectors which will leverage on the latest approaches in biomining, bioconversions, bioextractions and key knowledge technologies such as genomics, proteomics and metabolomics.

"As the world's largest exporter of palm oil, Malaysia generates a lot of biomass which holds tremendous potential for high value added applications ranging from the biofuels sector to bioplastics and cellulosic feedstock."

With an estimated value of RM33.4 billion in 2015, biomass is targeted to be a vital contributor to the agricultural and industrial biotechnology sectors.
US’ Quintiles wants to partner Malaysian biotech companies
By Roziana Hamsawi Published: 2011/11/28
http://www.btimes.com.my/Current_News/BTIMES/articles/quintl/Article/#ixzz1eyKWJQxo

http://www.btimes.com.my/articles/quintl/pix_topright

KUALA LUMPUR: US-based biopharmaceutical services company Quintiles, which has been present in Malaysia since 1998, sees tremendous opportunities in the biotech sector.

Its head of Asia Markets Anand Tharmaratnam said Quintiles wants to go beyond its clinical research activity here and become the preferred partner for Malaysian biotech companies wanting to go global.

"The opportunities for us in Malaysia are significant and from our meeting with Biotech Corporation, we have communicated our interest to participate in driving the growth of the biotech sector," he said in an interview with Business Times here recently.

That would include vaccine development, giving consultations to Malaysian biotech companies going abroad, lab services management and training.

He is confident that Malaysia will go far in the global biotech space, given the investment made by the government in creating the right environment.

"This sector here is still pretty nascent and due to its long gestation period, we have yet to see a compound being tested into humans but we expect that to happen in the very near future and we want to be a part of the process," he said.

Privately-held Quintiles is an integrated bio and pharmaceutical services provider offering clinical, commercial, consulting and capital solutions.

It has more than 20,000 employees in 60 countries who have helped develop or commercialise all of 2010's top 50 best-selling products or compounds and was involved in the development of the top 30 oncology drugs last year.

Having been in Asia since 1993, it now has 28 offices and employs 4,000 people, making it the largest employer of clinical development professionals across Asia.

"We have worked closely with the Malaysian government and under the Economic Transformation Programme, it is looking at the promotion of more clinical trials and research. We have a strong brand name here and we are confident we could easily get the trust factor," he said.

Quintiles is confident Malaysia will be a successful location for biotech sector due to the incentives and the support provided by the Malaysian government and the availability of talent.

Speaking on the opportunities within Asia, Tharmaratnam who is based in Singapore, said over the last 15 years, the region has been a good place for global clinical development while in the last 2 to 3 years, Asia's commercial development is gaining importance.

In terms of drug sales, global drug sales are expected to reach US$1 trillion (RM3.18 trillion) by 2015 and about 28 per cent is to come from Asia, 31 per cent from the US and 12-13 per cent from 5 top European countries.

"Today, 41 per cent of the drug sales come from the US, 25 per cent from the Euro and only 13 per cent from Asia and this will change in the next few years," he said.

The Asian region contributes about 20 per cent to Quintiles' group revenue and the Asian business is growing about 15 per cent a year with Japan being its single largest Asian market.

nazrey

November 28th, 2011, 06:06 AM

TNB ranked 3rd among Asia power utilities :cheers:
Published: 2011/11/28
http://www.btimes.com.my/Current_News/BTIMES/articles/3tnb-2/Article/#ixzz1eyPjVncO

KUALA LUMPUR: Tenaga Nasional Berhad (TNB) has been ranked third among electricity utilities in Asia in the Platts Top 250 Global Energy Company Rankings for this year.

In a statement yesterday, TNB said among global electric utilities, it was placed 24th in the latest ranking by Platts, a global provider of energy, petrochemicals and metals information.

"In addition, TNB was ranked 20th in overall performance in Asia and 90th in overall global performance," it said.

The annual rankings are based on performance in four key areas: asset worth, revenues, profits and return on invested capital.

All companies in the list have assets of over US$3.5 billion (RM11.13 billion).

Tenaga Nasional Berhad president/chief executive officer Datuk Seri Che Khalib Mohamad Noh said the latest rankings were in recognition of the company's commitment and perseverance in serving the customers better through improvement in efficiency and productivity.

"Tenaga Nasional Berhad will stay focused and strive harder to meet the expectations of the customers despite the tougher operational environment it has to face," he said.

The rankings were announced during the Platts Top 250 Global Energy Companies Awards ceremony held recently in Singapore. Bernama

nazrey

November 28th, 2011, 10:11 AM

Foreign direct investments in Malaysia surge
Published: 2011/11/28
http://www.btimes.com.my/Current_News/BTIMES/articles/20111128165821/Article/index_html

Malaysia’s foreign direct investments (FDIs) surged 42 per cent to RM26.4 billion as of end September as compared with RM18.6 billion in the same period last year.

The latest data from the Statistics Department indicates that the government's initiatives to spur economic growth are bearing fruition, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

"Based on the FDI inflows for the nine months, it is likely that this year’s total FDI will exceed last year’s figure," he said in a statement today.

Total FDI for 2010 was RM29.3 billion, while in 2009, it was RM5 billion.

Mustapa said Malaysia received strong FDIs in the first and second quarters of this year, totalling RM10.1 billion and RM11.07 billion, respectively.

However, the FDI in the third quarter moderated to RM5.17 billion, partly due to weaker external economic climate, especially the euro zone debt crisis and the US economic slowdown.

On private investments, Mustapa said the government was confident of achieving the targeted RM94 billion this year.

Private investments for the January-September period totalled RM75 billion as announced by the Finance Ministry recently. -- Bernama
Total FDI
2011 - RM26.4 billion (as of end September)
2010 - RM29.3 billion
2009 - RM5 billion

jani13

November 29th, 2011, 12:32 AM

2009 wow...

nazrey

November 29th, 2011, 08:27 AM

Malaysia to see RM500m biotech investments
By Zaidi Isham Ismail Published: 2011/11/29
http://www.btimes.com.my/Current_News/BTIMES/articles/NAZLEE/Article/index_html

Malaysia, which aspires to become one of the world's biotechnology hubs, is set to see RM500 milllion in investments by the second half of next year.

Malaysian Biotechnology Corp Sdn Bhd chief executive officer Datuk Dr Mohd Nazlee Kamal said investors would focus largely on agriculture-based biotechnology.

Biotechnology has two other disciplines - industrial and pharmaceutical.

"These investors may also establish joint-venture companies with Malaysian entities," Nazlee told Business Times here recently.

He declined to name the investors as talks are on-going.

Nazlee said the investments would boost Malaysia's bid to attract another RM9 billion into the biotechnology sector by 2015.

Since its establishment in 2005, the agency, which is tasked to develop biotechnology activities in the country, has won over RM4 billion worth of investments.

Malaysia aspires to become a biotechnology hub like South Korea, Singapore and Thailand, and ultimately, become a global player.

It also hopes to grab a slice of the world's biotechnology sector, which is estimated to be worth trillions of dollars by 2020.

Nazlee said Malaysia as well as the Asia Pacific region had a lot of potential and were well positioned to develop the sector further, boosted by uncertainties in the global economic conditions, especially in the United States and Europe.

Meanwhile, Nazlee said Malaysia at present had a total of 204 Bionexus-status companies with total investments of RM2.1 billion.

It planned to rope in another 50 next year with total investments of RM1 billion, he said.

Bionexus companies are accorded special privileges, such as easy access to loans and grants and exemption of or lower taxes.

Nazlee said the agency, which is under the Science, Technology and Innovation Ministry, was going all out to woo more US and Europe-based biotechnology giants to Malaysia to complement the Asian biotechnology companies here.

"We are in the process of bringing more big US and European biotechnology companies to Malaysia. Talks should conclude in the next couple of months," said Nazlee.

He added that the agency was seeking more funds from the government to help kickstart start-up companies and fund research and development activities.

It also plans to launch grants and loans worth RM100 million together with venture capital funds.

Nazlee said the world's biotechnology sector was evolving quickly and Malaysia should not lag behind.

Europe, for example, is moving away from petroleum-feed stock and intensifying research and development activities in biofuels to meet its aviation policy of using five per cent biofuels by 2015 and 20 per cent by 2020.

"Malaysia should not be left behind as we have huge tracts of land and the biomass that we can use to make biofuel.

"There are also new innovations in the agriculture sector to turn micro algae into jet fuel," he said.

http://www.btimes.com.my/articles/NAZLEE/pix_middle

CyrusChang

November 29th, 2011, 09:59 AM

What is the potential of Bukit Bintang?

nazrey

November 29th, 2011, 10:19 AM

Bukit Bintang New Future Development

tTwd3xpTZqs

nazrey

November 30th, 2011, 09:24 AM

Malaysia aims to be assets management hub
Published: 2011/11/30
http://www.btimes.com.my/Current_News/BTIMES/articles/20111130142250/Article/index_html

Malaysia has taken the first few steps in adopting global best practices in the Assets and Facilities Management (AFM) Industry to achieve maximum returns on investments.

It is also aimed at becoming the AFM hub for the ASEAN region.

A construction boom, following Malaysia's rapid development and implementation of the government’s privatisation policy, gave rise to a sudden increase in demand for engineering and non-technical services for the operation and maintenance of physical assets.

Today, AFM has evolved into an important industry, providing much needed support for the continued development of the construction sector.

Deputy President of the Malaysian Association of Facility Management, Prof Sr Dr Abdul Hakim Mohamed said, there are about 30 AFM contractors in Malaysia.Based on the inventory of commercial properties reviewed by the National Property Information Centre (NAPIC), there were more than 27 million square metres of shopping complex space and "purpose-build offices" in Malaysia in 2010.This shows there are tremendous opportunities for the AFM sector in the country.

"Many contractors are just cleaners.We need to train them to become AFM contractors," Abdul Hakim, who is also the Director of the Centre for Real Estate Studies, Universiti Teknologi Malaysia, told Bernama.

According to the Construction Industry Development Board (CIDB), asset management is defined as, strategic management towards preservation of any asset value throughout its life cycle.

Facility management, on the other hand, is defined as the management of multi-disciplinary activities to ensure continuous functionality of the build environment by linking and integrating people, places, processes and technology.

Abdul Hakim said for the public sector, contractors were quite ready, as they are guided by policy, a manual and standard operating system from the government.

"We are now waiting for the training modules and registration for the private sector. Once we make it compulsory (for them to register), then the industry would develop full-blown," he added.

Industry and property owners, he said, together with the CIDB, were preparing for a training module, which will be ready by year-end.

"There are 14 modules. The modules are for everybody, from consultants, contractors and to building owners. It provides basic knowledge on AFM.

"We had the final workshop last month, to touch up everything. It was represented by the industry, university, and various association committees," he said.

Abdul Hakim said one area that really deserves the attention of the AFM industry is the education sector. "AFM is for the life cycle of the building. You prevent bigger defects. You rectify. You save money. If we don’t manage our assets and facilities, it would become our liability instead," he added.

He said AFM is also essential for economic competitiveness.

Meanwhile, Ruslan Nordin, the managing director of Global Facilities Management Sdn Bhd, a local AFM company, said Malaysia would be the first country in Southeast Asia to produce and provide a AFM manual.

"The fact that we have something in writing to expand, advance and support the industry, is a huge step by the CIDB. This is where the country needs to go.

"We have a lot of contractors in the construction industry. What happens if the number of job slows to a trickle? What the government is trying to do, is to help the industry and raise the standard of services," he added.

Ruslan said the potential for the AFM industry is not limited to domestic demand alone. "When we go to the Middle East, for instance, to countries like Saudi Arabia, Qatar and the United Arab Emirates, we can offer value for money in terms of services.

"Compared to western companies, which charge premium rates, we provide the same standard and quality with better pricing. That’s our value proposition," he added.

Ruslan said this is why it is very crucial to have a manual and to register all interested AFM contractors.

"At the moment, any class F contractor can claim for the jobs, all 40,000 of them. But they can’t perform a one-man show in the international market. So, where is our value proposition?" he asked.

He said because the AFM is wide ranging, it can provide job opportunities for many people.

"AFM includes finance, engineering, and customer care. So, the person who wants to do AFM, must go through the body of knowledge. You need to know finance, a little bit of engineering, ethics and public relations," he added. -- Bernama

nazrey

November 30th, 2011, 09:26 AM

Malaysia first in region to host world gas meet
Published: 2011/11/30
http://www.btimes.com.my/Current_News/BTIMES/articles/sotired/Article/

http://www.btimes.com.my/articles/sotired/pix_topleft

KUALA LUMPUR: The 25th World Gas Conference and Exhibition (WGC2012) will be held for the first time in Southeast Asia, with Malaysia as the proud host.

Some 15,000 participants and trade visitors from the gas industry worldwide are expected to attend the conference.

National Organising Committee chairman Datuk Anuar Ahmad said WGC2012 will feature Malaysia's capacity as host of world-class event.

"The WGC 2012 will allow us to prominently brand ourselves with the leading energy players and top policymakers in the oil and gas arena, while giving us the opportunity to showcase the best of our own assets and achievements," he said.

Hosted by the Malaysian Gas Association, with the support of Petronas, this is the second time in the International Gas Union's (IGU) history, the event is held in Asia since the union was first registered in Vevey, Switzerland in 1931.

Anuar speaking to reporters after the soft launch of the conference here said, among the reasons that contributed to Malaysia's winning the bid to host the hallmark event is that Malaysia is the third largest liquefied natural gas (LNG) exporter and is ranked 15th of the largest gas reserves in the world.

"Being a gas producer, we have a role to play in order to champion the use of gas," he said.

Among the speakers for WGC 2012 are Royal Dutch Shell chief executive Peter Voser, Exxon Mobil Corporation chairman/chief executive Rex W Tillerson, China National Petroleum Company (CNPC) president Zhou Jiping; Statoil ASA president/chief executive Helge Lund, and GDF Suez chairman/chief executive Gerard Kirkland.

Meanwhile, Datuk Abdul Rahim Hashim, president of the Malaysian Gas Association said that apart from addressing global concerns of energy security, economic growth and climate change, WGC 2012 is also an ideal platform for knowledge sharing and relationship buil-ding.

"IGU has developed a programme that encompasses a wide range of issues, opportunities and challenges faced by the industry," he said.

The event is scheduled to take place on June 4 to 8 next year at the International Convention Centre, Kuala Lumpur.

nazrey

November 30th, 2011, 09:32 AM

Malaysia first in region to host FAI confab
Wednesday November 30, 2011
http://thestar.com.my/news/story.asp?file=/2011/11/30/nation/10002901&sec=nation#13226417733881&if_height=324

PUTRAJAYA: Malaysia has won the bid to host the Federation Aeronautique Internationale (FAI) 107th general conference in 2013, taking the country closer to hosting the prestigious World Air Games (WAG).

In the bidding held at the federation’s 105th general conference in Belgrade, Serbia, recently Malaysia garnered a massive 252 votes while another contender, Montenegro, managed a meagre 63 votes.

Malaysian Sports Aviation Federation (MSAF) president Tengku Abdillah Tengku Hassan said the result was a surprise considering the country’s position in the world sports aviation map.

With the success, Malaysia became the first in Southeast Asia and the third from the Asia Pacific to host the conference. Next year’s FAI 106th General Conference will be held in Antalya, Turkey.

D_Y2k.2^

November 30th, 2011, 10:57 AM

Bukit Bintang New Future Development

tTwd3xpTZqs

If this is true I'm going to fully support it!

patchay

November 30th, 2011, 06:19 PM

Renewable Energy

Sabah to build Malaysia's first geothermal power plant
TheStar | Wednesday November 30, 2011

KOTA KINABALU: The country's first environmental-friendly geothermal power generation plant will begin operating in Tawau in three years.

The 30mW plant costing some RM400mil would be built and operated by Sabah-based Tawau Green Energy Sdn Bhd (TGE) with the electricity being channelled to the Sabah Electricity Sdn Bhd (SESB) power grid.

Read More >>> http://thestar.com.my/news/story.asp?file=/2011/11/30/nation/10003051&sec=nation

AWC set to build Malaysia's first mass solar power farm
Business Times | Nov 30, 2011

KUALA LUMPUR: AWC Bhd is in the running to be the first in Malaysia to put up a solar farm.

Group chief executive cum managing director Azmir Merican Azmi Merican anticipates the project to start by the first quarter of 2012.

Read More >>> http://www.btimes.com.my/Current_News/BTIMES/articles/awc/Article/

nazrey

December 1st, 2011, 08:56 AM

Ways to empower youth
01 December 2011 | last updated at 01:47am
http://www.nst.com.my/local/umno/ways-to-empower-youth-1.13348

KUALA LUMPUR: Umno Youth delegates highlighted measures to empower youth when debating the motion of thank you for the movement chief's speech.

Sabah Youth deputy chief Mohd Joh Wid, when raising the issues surrounding the Malaysia Airlines-AirAsia share-swap deal, called on the government to review it, saying "it created a monopoly that does not benefit the people of Sabah".

"Now, to attend the general assembly, I have to pay for an expensive airfare because the deal has led to the cancellation of the FireFly service between Kota Kinabalu and Kuala Lumpur.

"As competition is no longer there, imagine the impact on Sabah youth who work and study in the peninsular."

He suggested the government introduce a 1Malaysia, 1Price concept for standard pricing of products and fuel between Sabah and Sarawak and the peninsula.

Terengganu Umno Youth chief Saiful Bahri Baharuddin asked for an 18 and 20 per cent quota for youth to buy affordable homes.

Federal Territories movement chief Rizalman Mokhtar called for the setting up of an urban youth development council.

Movement chief Khairy Jamaluddin, in his winding-up speech, outlined seven strategies for movement leaders and members to help Barisan Nasional win in the next general election.

nazrey

December 8th, 2011, 05:35 AM

Malaysia climbs up FDI ladder
Zaidi Isham IsmailPublished: 2011/12/08
http://www.btimes.com.my/Current_News/BTIMES/articles/20111207233310/Article/index_html#ixzz1fukBvO00

http://www.btimes.com.my/articles/20111207233310/pix_topright

Kuala Lumpur: Malaysia is among the world’s top 10 most attractive destinations for foreign direct investment (FDI), according to global management consultant A.T. Kearney.

The consulting firm highlighted this in its FDI Confident Index study, which collated data from senior executives of the world’s leading companies in 17 sectors from 27 countries.

A.T. Kearney noted that Malaysia had experienced a significant jump up the index to 10th from 21st position, thanks to inflows which soared 537 per cent to US$9 billion (RM28 billion) in 2010 from 2009.

“This number will be further surpassed in 2011 and is likely to continue in this positive direction based on the sentiments reflected in the index,” A.T. Kearney Southeast Asia group managing director Joon Leong Ooi said in a statement yesterday.

This is arguably the first time ever Malaysia has moved into the top 10 list, suggesting that the government’s transformation programmes are producing results.

The country’s higher position is driven by wealthier consumer markets and abundant natural resources.

A.T. Kearney said there has been a major growth for Southeast Asia with Malaysia and other major economies enjoying a huge upswing in FDI this year, reaping the benefits of low labour cost that were once primarily China’s domain.

These countries are also luring investors with their large and increasingly wealthy consumer markets, it added.

The region has nearly 600 million people and an economy that is bigger than India’s.

Singapore, as a global financial centre and a regional hub for many multinationals, has benefited considerably from increasing investments in Southeast Asia. It moved to 7th in the index from 24th place in 2010.

Indonesia also made significant gains, moving from 20th to 9th place.

Two other Southeast Asian countries in the top 25 are Vietnam (14th) and Thailand (16th).

Foreign Direct Investment (FDI) Confidence Index
http://www.atkearney.com/index.php/Publications/foreign-direct-investment-confidence-index.html

http://www.atkearney.com/images/global/articles/FG-Cautious-Investors-Feed-a-Tentative-Recovery-01.png

nazrey

December 8th, 2011, 10:59 AM

M’sia maintains 56.4 pct of land area as forested land
Posted on December 6, 2011, Tuesday
http://www.theborneopost.com/2011/12/06/m%E2%80%99sia-maintains-56-4-pct-of-land-area-as-forested-land/

MELAKA: Malaysia is still able to maintain 56.4 per cent of its total land area as forested land, Natural Resources and Environment Minister Datuk Seri Douglas Uggah Embas said yesterday.

He described it as an encouraging achievement because many countries were not able to do so as their forest areas had been opened for development.
This success is very significant because Malaysia is still a developing country where development and forest land-use change for other purposes still happens, he said in his speech at the opening of the 16th Malaysian Forestry Conference here.

The text of the speech was read by Deputy Natural Resources and Environment Minister Tan Sri Joseph Kurup.

Uggah said the most important challenge in today’s forest management was to balance the competition and various land use for forestry activities.
He said that the forest was not just a producer of a product, but also to produce clean air and water, as well as to absorb carbon dioxide and the greenhouse effect.

Meanwhile, Melaka Chief Minister Datuk Seri Mohd Ali Rustam, in his speech when opening the conference, said Melaka had gazetted 5,327 hectares of forested land or 3.2 per cent of the state’s total land area as permanent forest reserves.

“This effort is made on the commitment by the state government to maintain a permanent forest area to provide a clean environment and for the preservation of the biodiversity for the people’s well-being” he said.
The speech was read by the State Rural Development and Agriculture Committee chairman Datuk R Perumal.

He said the state government would continue with its tree planting effort, adding that a total of 17,250 trees had been planted since 2005. — Bernama

Department of Environment Malaysia
www.doe.gov.my/

nazrey

December 11th, 2011, 06:07 PM

Total trade hits RM1tril despite global slowdown
Exports grew by 15.8 per cent, beating market expectations, while imports grew slower than expected at 4.6 per cent.
By Rupa Damodaran Published: 2011/12/10
http://www.btimes.com.my/Current_News/BTIMES/articles/20111210004538/Article/index_html

http://www.btimes.com.my/articles/20111210004538/pix_topright

KUALA LUMPUR: Malaysia’s total trade crossed the RM1 trillion mark at RM1.05 trillion for the first 10 months of the year, marking a strong achievement during challenging global trading environment.

The International Trade and Industry Ministry (Miti), in releasing the data yesterday, said exports in October recorded the highest monthly value at RM63.57 billion.

Exports grew by 15.8 per cent, beating market expectations, while imports grew slower than expected at 4.6 per cent. Total trade expanded by 10.6 per cent to RM113.91 billion during the month.

Its minister Datuk Seri Mustapa Mohamed said the positive export performance made the six to seven per cent target for the ear “realisable”.

“Nonetheless, the ripple effect of the financial doldrums of the eurozone and the United States may hit Asia, and it is important for Malaysian manufacturers and exporters to be alert and be prepared for the challenges ahead,” Mustapa said.

Credit Suisse economist Wu Kun Lung said this was the fifth consecutive month that exports had beaten the consensus forecast.

Strong commodity exports have enabled the trade surplus to widen to RM13.2 billion, up from RM9.6 billion in September.

According to Miti, the major contributors were chemicals and chemical products, the manufacture of metal and rubber products, which increased by 24.3 per cent, 38.5 per cent and 23.7 per cent respectively.

The growth had offset the impact of the lower exports of electrical and electronic products, which declined by nine per cent.

Commodities, mainly liquefied natural gas, palm oil and crude and refined petroleum products, contributed 76.2 per cent to export growth in October.

In terms of markets, China topped the list, expanding by 37.1 per cent in October. Exports to Japan rose 29.6 per cent, mainly due to meeting post-tsunami and earthquake reconstruction needs and new demand arising from supply chain disruptions caused by floods in Thailand.

nazrey

December 11th, 2011, 06:08 PM

Eksport berkembang RM63.57b
2011/12/10
http://www.bharian.com.my/articles/EksportberkembangRM63_57b/Article/

EKSPORT Malaysia berkembang kukuh 15.8 peratus kepada RM63.57 bilion pada Oktober, disokong peningkatan ketara eksport minyak sawit, gas asli cecair dan kimia, sekali gus menjadikannya eksport bulanan tertinggi pernah direkodkan.

Peningkatan itu melebihi jangkaan sebahagian besar penganalisis pasaran yang meramalkan pertumbuhan sekitar tujuh hingga lapan peratus susulan krisis hutang Eropah serta kelembapan ekonomi Amerika Syarikat.

Menteri Perdagangan Antarabangsa dan Industri, Datuk Seri Mustapa Mohamed, berkata Import dalam tempoh sama meningkat 4.6 peratus kepada RM50.35 bilion, manakala jumlah perdagangan berkembang 10.6 peratus kepada RM113.91 bilion.
Dalam tempoh 10 bulan tahun ini, eksport melonjak 9.1 peratus kepada RM557.16 bilion, manakala import naik 8.5 peratus kepada RM474.72 bilion.

Dalam tempoh itu, jumlah dagangan meningkat 8.8 peratus kepada RM1.052 trilion manakala lebihan dagangan RM102.44 bilion.

Prestasi eksport positif sejak 10 bulan lalu menjadikan sasaran Malaysia tahun ini yang ditetapkan enam dan tujuh peratus boleh direalisasikan, katanya di Kuala Lumpur semalam.

Eksport pembuatan yang menguasai 64.8 peratus jumlah eksport pada Oktober, meningkat 2.2 peratus daripada setahun lalu.

nazrey

December 12th, 2011, 07:11 AM

Third Halal Transformation programme begins Dec 16
Posted on December 12, 2011, Monday
http://www.theborneopost.com/2011/12/12/third-halal-transformation-programme-begins-dec-16/

KUCHING: The third Halal Transformation Programme (PTH), organised by the Halal Industry Development Corporation (HDC), will be held here from Dec 16 to 18.

Organised in collaboration with the state government, Jabatan Agama Islam Sarawak and Bahagian Pembangunan Usahawan Sarawak, PTH Sarawak will be held over three days carrying the theme ‘Waves of Sharing Opportunities’.

The programme will be officiated by Chief Minister Pehin Sri Abdul Taib Mahmud on Dec 17 at the Kuching Waterfront.

HDC has designed its PTH as a roadshow to reach out to those who are keen to participate in the halal industry in a bigger way.

It intends to enhance community knowledge of halal as well as provide opportunities in halal business to halal SMEs in Sarawak to link with MNCs, potential domestic investors and job opportunity offerings.

HDC will also be introducing non-traditional halal sectors such as halal toiletries, cosmetics and health supplements.

PTH Sarawak will also feature Karnival Usahawan dan Rakyat, Seminar Kepenggunaan Halal Malaysia Negeri Sarawak, Seminar Belia HalalJob- Program Pengenalan HALJOB Sarawak and community-oriented activities like the Halal Fashion Show, Marhaban dan Nasyid contest, Children’s Colouring contest, Upin & Ipin show and a mini concert.

The one-day ‘Transformasi Keusahawan Halal’ seminar will have invited speakers’ talk about their halal roles. About 500 participants will be attending the seminar, which is jointly organised with HDC’s seminar partner Institut Pembangunan Pengurusan Johor.

Another attraction for students and job seekers will be the seminar titled ‘Pengenalan Halal Job’ (HALJOB), to be held at the Sarawak Tourism Complex on Dec 17.

The seminar is brought by HDC in collaboration with Universiti Sains Islam, Global Integrity Products & Services, Jabatan Agama Islam Sarawak and Jabatan Ketua Menteri Negeri Sarawak. It aims to educate students and new graduates on a variety of employment prospects in the halal industry.

It is estimated that close to 300 youth will be participating in the seminar.

“We are expecting SMEs, government agencies, business entrepreneurs, institutions of higher learning, academicians and researchers, students, and the general consumer public to come forward to participate in this PTH to tap the halal opportunities that are being realised,” said HDC chief executive officer Dato Seri Jamil Bidin.

HDC’s PTH events have continued to receive support from Tourism Malaysia, KFC Holdings, Sarawak Economic Development Corporation, Jabatan Agama Islam Sarawak and MARA.

He added that the participants of the PTH would be furnished with halal opportunities, and that the event will provide them with the platform and interaction between GLCs, SMEs and consumers.

“From the success of two previous PTHs in Pahang and Kelantan, we hope to bring the halal phenomena to Sarawak too. Overall, we expect the participation of 20,000 visitors,” he said.

Some of the participants that have already expressed an interest in PTH Sarawak include HDC’s own Halal Focus Companies and Champion Companies – Herbagus Sdn Bhd and Bee Hives.

Local halal entrepreneurs who wish to participate in PTH Sarawak can contact Abg Bahthiar Abd Nasser at 012-8592177 or Sabrina Sabri at 019-8895664 .

The PTH series is another People First programme of HDC, which underscores HDC’s positioning statement: ‘Halal Means Business’.

nazrey

December 14th, 2011, 05:16 AM

SapuraCrest Kencana seeks global partners
Zaidi Isham Ismail Published: 2011/12/13
http://www.btimes.com.my/Current_News/BTIMES/articles/20111212231914/Article/index_html

SapuraCrest president says with the marriage, SapuraCrest Kencana will be among the world’s top five O&G service providers.

SapuraCrest Kencana Petroleum Bhd, the planned merged entity between Malaysia’s two largest oil and gas (O&G) players, is eyeing partnerships with other global O&G services providers.

SapuraCrest Kencana is set to become a global player once the merger of SapuraCrest Petroleum Bhd and Kencana Petroleum Bhd is completed by the first quarter of 2012.

Senior executives of SapuraCrest and Kencana also assured that the new entity’s board will not be a “pushover” and there will be no staff lay-offs.

SapuraCrest executive vice-chairman and president Datuk Seri Shahril Shamsuddin said with the marriage, SapuraCrest Kencana will be among the world’s top five players.

Italy’s Saipem, France’s Technip and the US McDermott’s International Inc are among the world’s top O&G service providers.

Shahril said oil prices will continue to drive O&G activities worldwide, of which some will be needed to be carried out on a fast-track basis. Therefore, strategic alliances among the players will come in handy.

Shahril and Kencana chief executive officer Datuk Mokhzani Mahathir were speaking to Business Times at SapuraCrest’s headquarters recently.

Mokhzani said any O&G services firm must amass sufficient experience before it can start bidding for jobs.

“The merger puts us in a good position to win more jobs. With a combined balance sheet, the firms are in a better place to face the financial risks,” he said.

Shahril said that if the group wants to secure a RM3 billion to RM4 billion job, it must first show a RM2 billion to RM3 billion balance sheet.

“There is no way we can grab a RM3 billion-RM4 billion contract when we only have a balance sheet of between RM200 million and RM300 million. After this (the merger), we can go as far as the Gulf of Mexico,” he said, adding that the new board of directors will be filled with seasoned industry players.

Meanwhile, Mokhzani said the enlarged entity will also be able to to serve its more than 20 clients of mostly oil majors in a better manner as it will now have more than 500 vendors under its wings.

He added that the new entity will reward shareholders the way SapuraCrest and Kencana have been doing before, although no dividend policy has been planned yet.

He stressed that there will be no lay-offs for SapuraCrest and Kencana's more than 9,000 workers after the merger.

SapuraCrest and Kencana are merging in a RM11.85 billion deal to create Malaysia's largest integrated O&G service provider by assets.

Under their cash and share swap deal, special purpose vehicle Integral Key Sdn Bhd will buy all the assets and liabilities of SapuraCrest for RM5.87 billion and Kencana for RM5.98 billion.

The companies are obtaining shareholders' approval at their respective extraordinary general meetings tomorrow and December 15.

Shahril and Mokhzani will become group president/CEO and executive vice-chairman of SapuraCrest Kencana, respectively.

Datuk Hamzah Bakar, current SapuraCrest chairman, will be nominated group chairman.

http://www.btimes.com.my/articles/20111212231914/pix_bottom

nazrey

December 14th, 2011, 12:47 PM

Malaysia, the first Asian country give nod to stroke medication latest!
Posted on December 14, 2011, Wednesday
http://www.theborneopost.com/2011/12/14/malaysia-the-first-asian-country-give-nod-to-stroke-medication-latest/

KUALA LUMPUR: Malaysia has approved the use of rivaroxaban, a once-daily oral anticoagulant for reduction of stroke-risk in patients with sustained irregular heart rhythm.

Malaysia has become the first country in Asia and the third in the world to approve rivaroxaban for this purpose, said Dr Axel Bouchon, general manager for Bayer HealthCare in Malaysia, Singapore and Brunei.

He said National Pharmaceutical Control Bureau of the Ministry of Health Malaysia gave the approval recently, shortly after approvals by the United States and Ukraine.

In a statement here today, Bouchon said the US-FDA recommends rivaroxaban for the prevention of stroke and systemic embolism in patients with non-valvular atrial fibrillation (AF).

“AF-related stroke can be prevented with proper diagnosis, treatment and management. With the approval, Malaysian patients who are living with AF can be among the first in the world to benefit from rivaroxaban, which also has potential to help reduce the devastating burden that strokes have on patients and their families,” he added.

Datuk Dr Azhari Rosman, consultant cardiologist with the National Heart Institute, said in the same statement that approval of rivaroxaban offers physicians a new option to effectively reduce stroke-risk in patients who are living with atrial fibrillation and the continuous threat of strokes.

An estimated 40,000 Malaysians succumb to stroke each year, making it the third largest cause of death in Malaysia, after heart disease and cancer, and also the most common cause of severe disability, the statement said. – Bernama

nazrey

December 16th, 2011, 01:20 PM

More Japan investors keen on Malaysia
Published: 2011/12/16
http://www.btimes.com.my/Current_News/BTIMES/articles/20111216161446/Article/index_html#ixzz1ghQdFBLv

JITRA:Deputy International Trade and Industry Minister Datuk Mukhriz Mahathir said more investors from Japan were keen to explore business opportunities, particularly the new sectors in Malaysia.

He said that besides automotive, the Japanese also showed interest to explore other sectors namely the halal, green technology and services industries.

This was discussed during a three-day trade and investment seminar hosted by Bank Of Tokyo Mitsubishi UFJ (BTMU) in three Japanese cities -- Tokyo, Osaka and Nagoya -- early this week, he said.

Mukhriz said the Japanese saw Malaysia as having 40 years experience in the automotive field, quite strong in ICT and most importantly it was politically stable and shielded from big disasters.

"That's why they are confident to invest in Malaysia.

"They are also drawn to the incentives we provide such as the 100 percent tax exemption for five to 10 years," he told reporters at the 1Malaysia cycling programme organised by Jerlun MCA near here today.

Mukhriz said those participated in the seminar in Japan might visit Malaysia to make thorough assessments and make decisions.

He said the Japanese had found out that its just-in-time production strategy was no longer suitable for practice because of natural disasters.

"Now, they use a new approach which is 'just in case' which means what to do to ensure no supply disruption when disaster strikes.

"In this regard, they have to prepare not one but many production lines not only at home but other countries as well so that supply continues as usual when something untoward happens," he said. - Bernama

nazrey

December 17th, 2011, 09:43 PM

CTRM Aviation to service Piaggio Aero (http://www.piaggioaero.com/)'s P180 fleet
Published: 2011/12/17
http://www.btimes.com.my/Current_News/BTIMES/articles/pigo/Article/#ixzz1gpJkNMvO

Piaggio Aero P180 Avanti II is the fastest private jet in its class and boasts a propulsion system that also ensures high fuel efficiency.

KUALA LUMPUR: Piaggio Aero (http://www.czechairspotters.com/photo.php?id=1050) has chosen CTRM Aviation Sdn Bhd to be its customer support and maintenance hub for Southeast Asia.

The appointment will see Malacca-based CTRM Aviation provide maintenance for Piaggio's fleet of P180 at its Batu Beren-dam facility. Before this, Piaggio had been sending its airplanes to Indonesia for servicing.

Piaggio Aero vice-president for marketing, sales, business development and government sales Paolo Brugiotti said in a statement.

"We'll be training CTRM's personnel in Italy before they're adequately certified to undertake the repairs, maintenance and service support," he added.

Piaggio Aero and CTRM sealed the deal at the recent Langkawi International Maritime and Aerospace Exhibition 2011 (LIMA 2011).

CTRM Aviation CEO Abdul Razak Mohamad Zin said the appointment will enhance its profile as an aviation specialist.

"We have the required expertise, experience and capability in being Piaggio Aero's partner for after-sales business."

nazrey

December 21st, 2011, 04:58 PM

Challenges to Malaysian economy
Rupa DamodaranPublished: 2011/12/21
http://www.btimes.com.my/Current_News/BTIMES/articles/rup2030/Article/

http://www.btimes.com.my/articles/rup2030/pix_bottom

nazrey

December 21st, 2011, 05:04 PM

nazrey

December 21st, 2011, 05:28 PM

PM launches Financial Sector Blueprint 2012-2020
By MAZWIN NIK ANIS Published: Wednesday December 21, 2011 MYT 6:00:00 PM
http://thestar.com.my/news/story.asp?file=/2011/12/21/nation/20111221181438&sec=nation

KUALA LUMPUR: The Financial Sector Blueprint is now in place to ensure a more competitive, diversified and dynamic financial sector for the future.

The 2012-2020 blueprint is designed to take Malaysia's financial sector to the next level to make it inclusive and fully integrated within the regional and international financial system.

The blueprint was launched by Datuk Seri Najib Tun Razak on Wednesday.

The Prime Minister who described the blueprint as a far-sighted vision of the systems and strategies that need to be put in place, said that, as the country worked towards attaining developed nation status, it need to forge deeper links with regional economies in other parts of the world.

"We will also need to break new ground in positioning Malaysia at the forefront of the international market in Islamic finance.

"I am confident this blueprint will achieve both and I am also pleased to see it anchored firmly in the core tenets of financial stability, integrity and serving the best interests of Malaysia," he said.

Najib: Second Financial Sector Blueprint reinforces Govt initiatives
21 December 2011

http://www.nst.com.my/polopoly_fs/1.22414.1324464236!/image/image.jpg_gen/derivatives/landscape_454/image.jpg

The second 10-year Financial Sector Blueprint (FSB) will reinforce the government's initiatives to drive Malaysia to become a fully-developed nation by 2020 while keeping the development and growth agenda to be inclusive and sustainable.

"The financial system will have a key role in spurring new areas of growth and facilitating our economic transformation," Prime Minister Datuk Seri Najib Razak said in the Bank Negara Malaysia's (BNM) Financial Sector Blueprint 2011-2020, which was released here today.

He said in charting a clear path that will further broaden and deepen Malaysia's financial system to achieve these objectives, it is paramount that careful attention be accorded to the stability of the financial system given the considerably more complex and challenging environment.

Najib said Malaysia's growth potential will also be intrinsically linked to the intensification of regional economic and financial integration.

Read more: Najib: Second Financial Sector Blueprint reinforces Govt initiatives
- Top News - New Straits Times http://www.nst.com.my/top-news/najib-second-financial-sector-blueprint-reinforces-govt-initiatives-1.22411#ixzz1hBfcmoJm

http://biz.thestar.com.my/archives/2011/12/22/business/b_1najib.jpg
http://biz.thestar.com.my/news/story.asp?file=/2011/12/22/business/10142988&sec=business
Prime Minister Datuk Seri Najib Tun Razak and Dr Zeti at the launch of the new banknotes and the Financial Sector Blueprint yesterday

nazrey

December 22nd, 2011, 03:47 AM

Key gateway to Asean markets
Published: 2011/12/22
http://www.btimes.com.my/Current_News/BTIMES/articles/rup21rr/Article/

http://www.btimes.com.my/articles/rup21rr/pix_topleft

THE Malaysian financial market is among the more developed in Asia and will grow in breadth and maturity to become an important gateway to the Asean markets.

Recommendations in the new financial sector blueprint released yesterday focuses on developing the money, foreign exchange and government securities markets as its core initiatives to develop the entire financial industry.

Among others, it recommends offering a wider range of liquid ringgit and multi-currency money market instruments to promote an efficient and competitive money market.

These include reducing counterparty risks and enhancing liquidity in money market transactions by promoting greater volume of securities and collateralised transactions.

It also recommends deepening liquidity in the government debt securities and sukuk markets by enhancing the benchmark yield curve, increasing product offerings and introducing government debt securities derivatives products.

This may also include issuance of securities in regional currencies out of the Labuan IBFC.

The blueprint also recommends that the investor base for the government securities market be broadened by exploring cost-effective investment and distribution channels for direct retail participation in the debt securities and sukuk markets, especially in the government securities market.

For businesses which expand overseas, the blueprint recommends more participation in the onshore foreign exchange market.

The blueprint also supports the use of regional currencies for trade settlements and direct investment activities to reduce transaction costs and risks in regional cross-border transactions - which will lead to the creation of new asset classes in the market.

The masterplan also calls for infrastructure and institutional arrangements that will support efficient and cost-effective foreign currency trading, payments and settlements onshore.

nazrey

December 22nd, 2011, 03:48 AM

Enabling all Malaysians to benefit from economic progress
Published: 2011/12/22
http://www.btimes.com.my/Current_News/BTIMES/articles/rup21ss/Article/#ixzz1hEByH9IW

KUALA LUMPUR: Financial inclusion will enable all citizens, including the low-income and rural residents to have the opportunity to undertake financial transactions, generate income, accumulate assets and protect themselves financially against unexpected adverse events, thereby enabling them to benefit from economic progress.

One of the recommendations in the new Financial Sector Blueprint is to adopt innovative channels to enhance the reach of quality and affordable financial services in a more cost-efficient manner.

This includes supporting agent banking by developing a comprehensive framework to enable outreach of financial services at lower costs.

It involves the use of non-bank retail outlets to deliver financial services, accelerating the rollout of channels including mobile banking.

The blueprint also recommends that the range of products and services be expanded to meet the distinct financial needs of all Malaysians.

Micro financing products, long-term contractual micro-savings products, microinsurance and microtakaful products are some of the recommendations.

The blueprint also calls for the strengthening of the financial inclusion role of specialised development financial institutions that mobilise savings of small Malaysian savers and enhance micro financing to micro enterprises.

The implementation of all the initiatives will be conducted in phases over the immediate and medium term.

http://www.btimes.com.my/articles/rup21ss/pix_bottom

patchay

December 22nd, 2011, 06:55 AM

ASEAN Financial Sector:

Malaysia continues its economic liberalisation with the official launch of the National Financial Blueprint. Hopefully by 2020, it could compete with Singapore, Hong Kong and Shanghai as another emerging financial capital of Asia. As a prove to its aspirations, Kuala Lumpur is today the world's largest Global Islamic Finance center with the largest issuance of sukuk and Islamic bonds.

Indonesia's largest bank, PT Bank Mandiri wins approval to open Malaysian branch
Business Times | Dec 22, 2011
http://www.btimes.com.my/Current_News/BTIMES/articles/20111222121006/Article/index_html

Indonesia's PT Bank Mandiri plans to open its first branch in Malaysia before the end of 2012, after the nation’s central bank agreed to provide the lender with incentives, director Budi Gunadi Sadikin said.

Bank Negara Malaysia lowered the minimum initial capital requirement for Mandiri to RM100 million in the first year from RM300 million, Sadikin said, confirming a report today by Kontan.

The central bank also allowed Mandiri to operate cash machines outside its branch or in public areas and offer savings accounts and deposits to retail customers, he said. -- Bloomberg

Malaysia Relax Foreign Bank Ownership Rules, Issue More Licenses
Bloomberg ASIA | By Elffie Chew and Manirajan Ramasamy - Dec 22, 2011 10:28 AM GMT+0800

Malaysia will allow foreign banks to own bigger stakes in local lenders, grant more licenses and ease short-selling rules as it seeks to triple the size of its finance sector by the end of the decade, the central bank said.

The Southeast Asian country will also let companies manage foreign currency fluctuations and allow non-residents to trade onshore interest-rate derivatives as it seeks to develop its money market under a 10-year plan announced by Prime Minister Najib Razak in Kuala Lumpur yesterday.

Bank of China Ltd., BNP Paribas SA and Sumitomo Mitsui Banking Corp. are among foreign lenders that have set up operations in Malaysia, attracted by its emergence as Southeast Asia’s biggest debt securities market and world’s largest issuer of Islamic bonds. The country accounts for 63 percent of Shariah-compliant debt sales globally, the Finance Ministry said in October.

Consolidation is continuing as foreign competition is set to increase. RHB Capital Bhd. (RHBC), Malaysia’s fifth-biggest lender, is in talks to buy the investment banking operations of OSK Holdings Bhd. (OSK), the country’s fourth-biggest stockbroker. K&N Kenanga Holdings Bhd., a brokerage part-owned by Deutsche Bank AG, is in talks to buy the investment banking and brokerage operations of local rival ECM Libra Financial Group Bhd. (ECML), two people familiar with the matter said on Dec. 1. Australia & New Zealand Banking Group Ltd. (ANZ) holds 23.8 percent of AMMB Holdings Bhd. (AMM), while Hong Kong’s Bank of East Asia Ltd. (23) owns 23.5 percent of Affin Holdings Bhd., (AHB) according to data compiled by Bloomberg.

Malaysia’s financial system, including outstanding bonds, loans and equity-market capitalization, may grow this decade at an annual pace of 8 percent to 11 percent, or six times the rate of expansion of its gross domestic product, Bank Negara Malaysia forecast. That compares with an average 7.3 percent growth since 2001, and would give the nation a financial sector valued at as much as 9.1 trillion ringgit by 2020, it said.

Read More >>> http://www.bloomberg.com/news/2011-12-21/malaysia-loosens-foreign-bank-ownership-rules-to-develop-finance-industry.html

Malaysia: The final decade push towards 2020...
Business Times | Dec 22, 2011
From the article: "Supporting the Transformation"

http://www.btimes.com.my/articles/20111221233915/front_top

THE Financial Sector Blueprint released yesterday will ensure Malaysian banks and financial institutions are ready to support the government's transformation efforts and final push towards becoming a developed and high-income nation 2020.

The new 10-year blueprint seeks to make intermediation of funds more effective and efficient to support Malaysia's economic transformation and meet all financing, investment and savings needs of businesses and households. As the bond market is already developed in Malaysia, efforts will be focused on improving liquidity, depth and participation in the money, foreign exchange and government securities market. The blueprint also seeks to ensure banking and financial services reach everyone and in a cost-efficient manner.

With banks in Malaysia now having risk-weighted capital ratios well above that required by the Basle-based Bank for International Settlement, Bank Negara Governor Tan Sri Dr Zeti Akhtar Aziz said they are ready to play more role as enablers, catalysts and driver of Malaysia's final decade push towards 2020.

Read More >>> http://www.btimes.com.my/Current_News/BTIMES/articles/finmaster01-2/Article/

Regional push for Malaysian banks, Banks asked to expand across Asia
http://www.btimes.com.my/Current_News/BTIMES/articles/20111221233915/Article/index_html

Bank Negara’s financial blueprint sets stage for value-added, high income economy
http://biz.thestar.com.my/news/story.asp?file=/2011/12/22/business/10143157&sec=business#13245327056201&if_height=571

http://biz.thestar.com.my/archives/2011/12/22/business/p5-finsyst.JPG

nazrey

December 23rd, 2011, 04:09 PM

Bank Negara reserves at US$135b
Published: 2011/12/23
http://www.btimes.com.my/Current_News/BTIMES/articles/22brief/Article/

KUALA LUMPUR: Bank Negara Malaysia (BNM) yesterday said its international reserves amounted to US$135 billion (RM429.8 billion) as at December 15.

The reserves position is enough to finance 9.8 months of retained imports and 4.1 times the short-term external debt, BNM said in a statement yesterday.

The main components of the international reserves were foreign currency (US$121.4 billion): International Monetary Fund reserves position (US$800 million); Special Drawing Rights (US$2 billion); gold (US$1.9 billion); and other reserves (US$8.9 billion). Bernama

nazrey

December 29th, 2011, 10:07 AM

M'sia needs to produce own cyber security software, says expert
Published: Thursday December 29, 2011 MYT 1:15:00 PM
http://thestar.com.my/news/story.asp?file=/2011/12/29/nation/20111229132546&sec=nation

KUALA LUMPUR: Malaysia needs to produce its own cyber information security software as depending on foreign software may risk information leaks and intelligence breaches, said a software expert.

Universiti Putra Malaysia (UPM) Computer Science and Information Technology Faculty dean Prof Dr Ramlan Mahmod said infiltration could happen covertly as currently there was a lack of understanding on source code logic streams used by foreign software.

"At the moment, there is no software capable of checking the source code of software to ensure the software used is confirmed safe.

"For the realisation of this information technology, the country needs to acquire 'technical knowhow' in information security and expertise in various fields such as computer science, mathematics and engineering," he told Bernama.

He said to acquire the expertise, the nation needed to carry out the foundation work such as training more experts in information technology and by bringing in more external technologies into the country.

Dr Ramlan said information leaks could happen in two situations - when the data is in transmission and hacking of existing data in storage.

"To prevent hackers from attacking data in transmission or unauthorised access to data storage, the information could be encrypted or hidden.

"This is the basis of information and software development important to ensure our cyber defence," he said.

He said the government needed to play a major role to set up a strong system of cyber defence as it needed financial commitment, expertise, legislation and continuous monitoring.

"Cyber security is the same as national security involving many operational aspects such as prevention, defence, detecting, intelligence and attack.

"It also needs sophiscated technical knowledge in information security and continuous upgrading of capability considering hackers are also improving their attacks," he said. BERNAMA

nazrey

December 31st, 2011, 06:46 AM

2011 — An eventful year for Prime Minister
Posted on December 30, 2011, Friday
http://www.theborneopost.com/2011/12/30/2011-an-eventful-year-for-prime-minister/

KUALA LUMPUR: Though 2011 has been a challenging year for Prime Minister Datuk Seri Najib Tun Razak, both at the domestic and the global front, it was still an eventful year.

At the domestic front, Najib continued with transformation programmes while addressing the ever-changing aspirations of the people.

He continued with radical changes including abolishing the controversial Internal Security Act (ISA).

At the global front, the economic decay of the West in particular has created new challenges in promoting the national economy.

The prospect of an impending global recession prompted Najib to thread a cautious path in managing the country’s financial resources.

Nonetheless, Najib known for his tenacity and unwavering commitment took the task of leading the country based on his mantra — ‘People First, Performance Now’.

The transformation continues

The year witnessed numerous bold transformation initiatives by the ‘Father of Transformation’ based on the 1Malaysia aspiration that has been the hallmark of Najib’s initiatives.

It is apparent that many of his efforts are showing results.

The people too in general appreciated his strategies and public approval on Najib’s leadership has improved tremendously.

A popularity study by Universiti Islam Antarabangsa (IIUM) and Universiti Putra Malaysia (UPM) indicated greater approval for Najib from all races in the country.

IIUM’s four year study pointed out that Najib’s popularity among the Malays shows a marked improvement from 35 per cent in 2008 to 59 per cent in 2011, an increase from 33 per cent to 45 per cent among the Chinese and from 41 per cent to 62 per cent among the Indians.

A similar study conducted by UPM this year on the minorities — Indian Muslims, Portuguese, Baba Nyonya, Orang Asli, Siam and Chitty — found a total of 54.2 per cent of the minorities giving their thumbs up for Najib.

1Malaysia brand

Just mention the rhyming acronyms — KR1M, PR1MA, MR1M, BR1M and the latest KIR1M — they immediately refer to Najib’s effort to touch base with the people, especially the needy.

The KR1M or the Kedai Rakyat 1Malaysia are retail outlets offering daily necessities at affordable prices, up to 60 per cent below other retail outlets.
The whole idea is to reduce the burden of the urban poor, with KR1M offering daily necessities like rice, egg, milk, flour and chili sauce.

Also available are frozen items, diapers and detergents.

The KR1M is further complemented by Kedai Ikan Rakyat 1Malaysia (KIR1M) launched this month offering fresh seafood at prices 30 to 40 per cent lower than the prevailing market price.

Menu Rakyat 1 Malaysia (MR1M) ensures the man on the street can enjoy a meal worth up to RM2 for breakfast and RM4 for lunch.

As of Dec 16, the number of vendors who joined the MR1M scheme has roughly doubled, with 1,155 MR1M outlets opened all over the nation, compared with 611 when launched in July.

In the latest move, the MR1M outlets would be available at all higher education institutions starting with Universiti Malaya.

The 1Malaysia Public Housing Project (PR1MA) was launched on July 4 as a strategic initiative to fulfill the housing needs of the people, especially the urban middle-class.

In Putrajaya, under the programme 560 affordable homes priced between RM120,000 and RM 150,000 in Precinct 11 were allocated for local youths with household income below RM6,000. This project is expected to be extended to other cities like Johor Baharu and Penang.

The 2012 budget allocated RM100 to every school student and book vouchers worth RM200 for undergraduates.

The government’s goodwill was further extended with the RM500 hand-out under 1Malaysia Public Assistance (BR1M) for households earning less than RM3,000.

Making the transformation a reality

Realising that the people have been yearning for positive changes, a number of transformation programmes has been launched.

Among them is the Economic Transformation Programme (ETP) that puts Malaysia on the path to emerge as a high income nation by 2020.

One of the 85 programmes implemented in 2011 is the Small Retail Outlet Transformation Programme (TUKAR) to help modernise small time retailers and help them to compete with other players.

The programme is expected to contribute RM5.56 billion and create 51,540 employment opportunities.

On the whole, all the ETP initiatives launched in 2011 are expected to contribute RM150 billion and create more than 300,000 employment opportunities by 2020.

The government transformation too is showing results.
Malaysia was listed 19th on the safest country index, a significant improvement from the 38th spot in 2008.

The same index also picked Malaysia as the safest country in South East Asia and fourth safest spot in the Asia Pacific region, behind New Zealand, Japan and Australia.

One of the seven National Key Result Areas (NKRA) is reducing crime.
Najib etched his name in the nation’s history when he repealed the controversial Internal Security Act 1960 (ISA) and Banishment Act 1959.
He also said that the Restricted Residence Act 1933, Printing Presses and Publications Act 1984 would be reviewed.

The move was welcomed by most, within and outside the country.
Also on review is the Section 27, Police Act 1967 that provides discretionary powers to the police to control and issue permits for rallies.

The latest, and another landmark decision by Najib is the amendments to the Section 15 of the University and University Colleges Act 1971, allowing undergraduates to join political parties upon reaching 21 years of age.

Regaining the dignity of sports

Just a decade ago, it was rare to see Malaysians donning the national jersey and what more to see them on the store shelves.
Today it is a different story altogether.

The ‘Harimau Malaya’ and ‘Team Malaysia, jerseys are hot items. People were annoyed when they found out that the outlets have ran out of stock for the jerseys.

The private sector too has shown interest in Malaysian sports.
Astro pay TV now has a dedicated channel, channel 801, to cover the sports development in the country.

Malaysian telecommunication giant TM also got itself involved in sports through ‘Team Malaysia’ and provided a helping hand in the national contingent’s preparation for the recent 26th SEA Games, the upcoming Olympics 2012, and the Asian Games and Commonwealth Games both in 2014.
Nonetheless, the government’s commitment is still needed and under Najib the sporting fraternity is certain to see greater achievements.

People the beneficiaries

Social activist, Khairil Hafidz Khairuddin, 29, noted that while he lauded the government’s programmes, there was still room for improvements to ensure the objectives were met.

“A body to monitor each initiative is highly necessary for all the programmes.
The monitoring body could also review the programmes along they way to check whether they were still relevant or otherwise. The monitoring party could also propose new programmes to be implemented by the government for the benefit of the people,” he said.

A private sector employee, Raju Guruvelu, 35, noted that the BR1M monetary programme is a good effort in alleviating the burden of low income earners.
As for Mohd Azrul Kamaruddin, 31, he was impressed by the government’s efforts to promote products from rural entrepreneurs through the annual Rural Entrepreneur Carnival(KUD).

“I love to see the host of products that we rarely see in the open market. All of them are locally made,” he said.

At the 2011 KUD, the Prime Minister announced an initial allocation of RM50 million under the Small Scale Dynamic Entrepreneur (UK Dinamik) programme to assist small scale entrepreneurs especially in the rural areas. — Bernama

nazrey

December 31st, 2011, 09:32 AM

Malaysian 5 Development Corridors
Iskandar Malaysia
South Johor
www.iskandarmalaysia.com.my/

DyIi5nYkKwE

East Coast Economic Region (ECER)
Kelantan, Terengganu and Pahang, as well as the district of Mersing in Johor.
http://www.ecerdc.com.my/

I1No_0Jz_Lc

Northern Corridor Economic Region (NCER)
Perlis, Kedah, Penang, North Perak
http://www.ncer.com.my/

9kreb2Xc9nI

Sabah Development Corridor (SDC)
http://www.sdc.gov.my/

MT2AMqMDToU

Sarawak Corridor of Renewable Energy (SCORE)
http://www.sarawakscore.com.my/

Ki1CnyqGxDA

nazrey

January 2nd, 2012, 08:06 AM

Mayban Ventures to invest RM1b in next 5 years
Published: 2012/01/02
http://www.btimes.com.my/Current_News/BTIMES/articles/20120102003744/Article/index_html#ixzz1iHYNNpIG

http://www.mayban-ventures.com.my/web/images/banner_top.jpg
www.mayban-ventures.com.my/

Malayan Banking Bhd’s private equity arm plans to invest in businesses like food and beverage, oil and gas, electronics manufacturing services and outsourcing.

Malayan Banking Bhd’s private equity arm, Mayban Ventures Sdn Bhd, plans to invest RM1 billion in the next five years targeting companies in the traditional sector.

The company also plans to be more involved in the region, where it is eyeing several sectors in China and other countries.

Acting chief executive officer Andrew T.K.Ho said Mayban Ventures plans to invest in businesses like food and beverage, oil and gas, electronics manufacturing services and outsourcing.

“We have plans to invest a total of RM150 million to RM250 million a year for the next five years, and to have a more regional focus by investing in other countries as well,” he told Business Times in an interview last week.

Ho said the companies which Mayban Ventures had invested in the past were mainly information technology companies but in the coming years, that would not be the focus anymore.

“We are also not looking at investing in biotechnology companies because we feel the market is difficult in Malaysia. “Most of the talent in this sectors are mainly based abroad in markets such as the US and Europe,” he added.

The company is considering investing in healthcare and property businesses in China, while at the same time, looking at
other countries.

Ho said Mayban Ventures is also keen to invest in companies which are more private equity-focused and have ageing founders
who are looking for a good deal to exit the company.

“We don’t mind becoming co-investors for such companies who want to do a management buy-out or buy-in,” he said.

He said typically, Maybank Ventures would be in the company for three to five years before exiting, and during its stint in the company, it would not hold any management control.

"We need to know what we would get out of the company once we have exited, in terms of returns. And these companies really need to convince us on that bit before we get in," he said, adding that most of the investments were done via venture capital.

Ho said usually, the company's internal rate of return for the exits ranges from 15 per cent to 30 per cent. The highest it has ever achieved was a 50 per cent return on an IT company.

At present, he said Mayban Ventures' total fund management stood at RM500 million with 100 companies, of which they have divested most of them over the years.

"Our funds are fully invested except for the latest Agro fund that has a total fund of RM150 million, where only about 30 per cent to 40 per cent has been invested," he said.

http://www.btimes.com.my/articles/20120102003744/pix_bottom

nazrey

January 4th, 2012, 07:11 PM

Foreigners net buyers of Malaysian stocks for third month
Published: 2012/01/05
http://www.btimes.com.my/Current_News/BTIMES/articles/foree/Article/

KUALA LUMPUR: Overseas investors bought Malaysian stocks for a third straight month in December, the longest winning streak since July, as the benchmark index posted its largest quarterly gain in over a year.

Foreign funds purchased a net RM800 million (US$255 million) of Malaysian shares last month, according to data on the Kuala Lumpur stock exchange's website.

They bought RM700 million of stocks in November and RM1.5 billion in October.

The benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI)rallied 10 per cent in the last quarter, outpacing the MSCI Asia Pacific Index's 0.7 per cent gain, after the economy grew 5.8 per cent in the three months through September, the fastest since the second quarter of 2010.

The Malaysian gauge was the third-best performer in Asia in the last three months of 2011 after Thailand's SET Index and the Hang Seng China Enterprises Index.

Gross domestic product may expand 5 per cent to 6 per cent this year after growing as much as 5.5 per cent in 2011, Prime Minister Datuk Seri Najib Razak said in an annual budget speech on October 7.

Najib unveiled an Economic Transformation Programme to lure investment in September 2010.

The plan includes US$444 billion (RM1.4 trillion) of programmes this decade ranging from mass rail to nuclear power, led by private and government-linked companies.

On July 8 last year, Najib broke ground on a RM48 billion mass rail network aimed at easing traffic congestion in Kuala Lumpur.

nazrey

January 4th, 2012, 07:14 PM

Malaysia set for solid growth, says Oxford Business Group
Published: 2012/01/05
http://www.btimes.com.my/Current_News/BTIMES/articles/MGROW/Article/

Oxford Business Group says it is expected that the Malaysian economy would have expanded by more than five per cent in 2011.

KUALA LUMPUR: With many of Malaysia's economic sectors having performed solidly over the past 12 months, the country is poised for another strong performance this year, says Oxford Business Group (OBG), a global publishing and consultancy company.

Though final figures have yet to be issued, OBG said it was expected that the Malaysian economy would have expanded by more than five per cent in 2011.

OBG said Malaysia's foreign direct investments (FDIs) had gone up while inflation was well contained and the financial sector remained steady.

However, it cautioned that there could be some impact from the European debt crisis, with demand for exports widely predicted to ease this year.

OBG said Malaysia, after having successfully ridden out the global financial crisis of 2008 and 2009, its economy appeared to be well placed to continue its progress into 2012 and beyond.

At the end of November, the Organisation for Economic and Cooperative Development (OECD) forecast that this solid rate of growth would continue for at least the next five years, predicting that Malaysia's GDP would expand by 5.3 per cent in each of the next few years and hit 5.6 per cent by 2016.

OBG said the OECD's forecast was somewhat more optimistic than the Asian Development Bank or the World Bank, which was looking at a growth for Malaysia's GDP rising by 4.7 per cent and 4.9 per cent, respectively, in 2012 although it was roughly in line with the International Monetary Fund's projection of 5.1 per cent. Bernama

www.oxfordbusinessgroup.com/

http://topnews.ae/images/Oxford-Business-Group-Logo.jpg

daeng_jal

January 5th, 2012, 05:15 AM

good thing!

Risda building are going to be demolish for redevelopment

nazrey

January 11th, 2012, 09:46 AM

Bank Negara reserves at RM423b
Tuesday January 10, 2012
http://biz.thestar.com.my/news/story.asp?file=/2012/1/10/business/10231746&sec=business#13262701919981&if_height=536

KUALA LUMPUR: Bank Negara said its international reserves amounted to RM423.4bil (US$133.6bil) as at Dec 31, 2011.

In a statement yesterday, the central bank said the reserves level had taken into account the quarterly adjustment of foreign exchange revaluation loss, following the strengthening of the ringgit against some major currencies during the quarter. The reserves position was sufficient to finance 9.7 months of retained imports and was four times the short-term external debt.

It said for 2011 as a whole, the international reserves rose by RM94.8bil to RM423.4bil (end-2010: RM328.7bil).

The higher reserves reflected mainly the current account surplus and inflows of foreign direct investment, portfolio capital and other investments, it said. It said the inflows, however, were partly offset by direct investment abroad.

It said there was also a cumulative unrealised foreign exchange revaluation gain following the strengthening of some of the major currencies against the ringgit during the year. - Bernama

The central bank said Malaysia's international reserves, which were usable and unencumbered, were expected to continue to remain at a comfortable level this year.

The level of reserves would be supported by the trade and investment inflows, it said. Bernama

dengilo

January 12th, 2012, 02:15 AM

But they never tell us how much the country s debt ha!I think it slightly more than what the reserve is!

imnew

January 12th, 2012, 04:04 AM

dont show your stupidness..normally the country debt will be shown after the yearly budget announcment..next time open your eyes ...why there are so many ungrateful ppl in malaysia..if u dont like malaysia ..stay in Luxembourg..country without debt ...even US ..still owe to the orld bank.. if im not mistaken the last budget announcement our FOREIGN DEBT is around 42 billions..(RM).and accroding to world bank report we managed to pay around 2 billions (RM) yearly..still low...for comparison Indonesia foreign debt i think its exceeded RM100 billions...which is ridicilous big...pls la next time if u dont know..just ask do not give that kind of statement..harap2 org2 mcm u ..terbuka hati tinggalkan malaysia selama2nya..tak pernah bersyukur....

guy4versa

January 12th, 2012, 04:13 AM

buiscasey

January 12th, 2012, 05:08 AM

finally...

dengilo

January 13th, 2012, 12:14 AM

Kalian tinggal di bumi nyatakah atau najibland@disneyland?

icemango

January 13th, 2012, 06:46 AM

dont forget to vote mont kiara skyline for tomorrow banner!

guy4versa

January 13th, 2012, 08:52 AM

Kalian tinggal di bumi nyatakah atau najibland@disneyland?

did u mean dengkiland?

SgWay

January 13th, 2012, 03:10 PM

Kalian tinggal di bumi nyatakah atau najibland@disneyland?

People should stop pretending that malaysia is the only country have high debts which is only 50 percent of GDP, other major ASEAN nations like Thailand and Indonesia have similar debt lebels and olease spare me by pointing at Singapore which have 100% public debt which means if Temasek lost all its money the debt is passed to the CPF hence Singaporeans......., practically all countries have debt,external or public...it not an UMNO phenomeno like the silly political ho hos that always ruin the discussions in this forum(commonla..u want to peddle your DAP/PKR dogma..berapa ramai sgtla pengundi yg datang forum ni..buang air liur je), debt is what drives the economy....the question is ..is the debt sustainable..as for Malaysia's case..most indicators indicate our debt is at sustainable level....if we take all the money in the financial system..Malaysia will have more money to repay its external and public debts in one go...unlike in the United States, if all of its money from the billionaires and very coin on the street are collected in the US,it can only repay barely 10 percent of its debt,.so dun worry UMNO infested bolehland will tahan some more years...lots of years i guarantee...

We actually have many bloggers that specialize in certain domestic discussions...if u think this a Najib blog or whatever there are many info from the World Bank,IMF and even CIA World Fact book.

For economic affairs in Malaysia you can read this blog..very informative and can answer many questions like inflation and whether bolehland will go belly up like some here love to happen.below is an article on FAQ government debt...be my guest
http://econsmalaysia.blogspot.com/p/faq-on-malaysian-government-debt.html

buiscasey

January 14th, 2012, 05:19 AM

constipation

January 14th, 2012, 01:50 PM

^^ well said, welcome newbie:cheers:

bakpao

January 14th, 2012, 02:39 PM

People should stop pretending that malaysia is the only country have high debts which is only 50 percent of GDP, other major ASEAN nations like Thailand and Indonesia have similar debt lebels and olease spare me by pointing at Singapore which have 100% public debt which means if Temasek lost all its money the debt is passed to the CPF hence Singaporeans......., practically all countries have debt,external or public...it not an UMNO phenomeno like the silly political ho hos that always ruin the discussions in this forum(commonla..u want to peddle your DAP/PKR dogma..berapa ramai sgtla pengundi yg datang forum ni..buang air liur je), debt is what drives the economy....the question is ..is the debt sustainable..as for Malaysia's case..most indicators indicate our debt is at sustainable level....if we take all the money in the financial system..Malaysia will have more money to repay its external and public debts in one go...unlike in the United States, if all of its money from the billionaires and very coin on the street are collected in the US,it can only repay barely 10 percent of its debt,.so dun worry UMNO infested bolehland will tahan some more years...lots of years i guarantee...

We actually have many bloggers that specialize in certain domestic discussions...if u think this a Najib blog or whatever there are many info from the World Bank,IMF and even CIA World Fact book.

For economic affairs in Malaysia you can read this blog..very informative and can answer many questions like inflation and whether bolehland will go belly up like some here love to happen.below is an article on FAQ government debt...be my guest
http://econsmalaysia.blogspot.com/p/faq-on-malaysian-government-debt.html

sorry for poking my nose, just want to verify that Indonesian govt/public debt is 25.5% of GDP (in 2010), while its external debt is 28% of GDP (in 2010)...

dont show your stupidness..normally the country debt will be shown after the yearly budget announcment..next time open your eyes ...why there are so many ungrateful ppl in malaysia..if u dont like malaysia ..stay in Luxembourg..country without debt ...even US ..still owe to the orld bank.. if im not mistaken the last budget announcement our FOREIGN DEBT is around 42 billions..(RM).and accroding to world bank report we managed to pay around 2 billions (RM) yearly..still low...for comparison Indonesia foreign debt i think its exceeded RM100 billions...which is ridicilous big...pls la next time if u dont know..just ask do not give that kind of statement..harap2 org2 mcm u ..terbuka hati tinggalkan malaysia selama2nya..tak pernah bersyukur....

it's normal a bigger country with bigger GDP has bigger absolute amount of debt... the most important thing is the capability of the country to repay its debt, to know whether its debt is manageable or not...that's why debt-GDP ratio is a more important indicator...and Indonesia debt-GDP ratio is relatively low in the rate of 25.5%, and as I wrote above, our external debt is as low as 28% of GDP...

I only want to verify, I don't want to make any comparison to other countries since it's not my business...:)

pedang

January 14th, 2012, 03:31 PM

did u mean dengkiland?

lagi tepat @ anwarismeland :lol:

hanya pemegang ijazah pengajian melayu yg lulus cukup2 makan tapi boleh jadi Bapak penasihat ekonomi selangor.. Mr. RM1. :ohno:

dengilo

January 14th, 2012, 03:52 PM

Oh wow! Malaysians are very sensitive about this hutang thing ha?:lol:Ok lets move on:)

newmalayan

January 15th, 2012, 07:18 AM

^^ well said, welcome newbie:cheers:

eh eh, pandai pulak nko puji dia. bukan ke nko pun 2x5 tak habis2 cakap pasal politik UMNO blablabla sampai nak termuntah orang dengar ? :lol:

newmalayan

January 15th, 2012, 07:21 AM

^^:okay:...kadang2 org mcm ni dia xpernah amik tahu hal2 luar negara..sbb tu slalu fikir malaysia ni teruk..sedih ada org mcm ni....dia susah nak nampak nikmat n kesenangan penduduk2 malaysia,slalu nak lebih2,nak minyak murah,study free,gaji naik..itu jelah yg diaorg perjuangkan..conclusion=belajarlah bersyukur.

haaa...pandai pun, ni mesti sebab nko baru balik dari Jakarta kan? kalau tak potpetpotpet asyik dok kutuk negara sendiri macam everything are craps here, true rite? ;)

nazrey

January 15th, 2012, 07:59 AM

guy4versa

January 15th, 2012, 09:31 AM

haaa...pandai pun, ni mesti sebab nko baru balik dari Jakarta kan? kalau tak potpetpotpet asyik dok kutuk negara sendiri macam everything are craps here, true rite? ;)

huh?what u mean?no lah...aku g jakarta tahun 2010,bln 5..pesal ko ni..aku xpernah pon kata malaysia ni teruk...

newmalayan

January 15th, 2012, 09:56 AM

huh?what u mean?no lah...aku g jakarta tahun 2010,bln 5..pesal ko ni..aku xpernah pon kata malaysia ni teruk...

you think i'm blind meh? :lol: always kutuk DBKL, this and that. taknak ngaku ek?

guy4versa

January 15th, 2012, 10:16 AM

you think i'm blind meh? :lol: always kutuk DBKL, this and that. taknak ngaku ek?

:lol::lol:dbkl is organization...hahaha,yep i kutuk dbkl.y?sbb kerja diaorg x bagus..and that the fact..But it doesnt mean aku hina malaysia.susah ke nak beza?haha..two different thing..im talking about patriotic,semangat cintakan negara...xde kena mengena pon kalau aku kutuk dbkl ke,mbsa ke,syabas ye..hahaha..aku cuma jelaskan pd org2 ni supaya berasa syukur dpt tinggal di bumi malaysia yg aman..susah ke nak paham NEWMALAYAN?.next time jgn main tuduh2 je..be smart!..ade paham?:)

nazrey

January 15th, 2012, 09:35 PM

Malaysia's growth to remain robust
By Rupa Damodaran Published: 2012/01/16
http://www.btimes.com.my/Current_News/BTIMES/articles/rup141a/Article/#ixzz1jYrGrYEH

KUALA LUMPUR: Malaysia's growth outlook for the first half of the year could outperform the other small open economies in the region, but it hinges on developments in the eurozone.

Credit Suisse raised its 2011 gross domestic product (GDP) growth forecast to five per cent (from 4.6 per cent) and still maintains its forecast of 4.8 per cent for 2012.

"The good news is that we think the most likely outcome remains that a break-up of the eurozone can be avoided or postponed beyond 2012.

"Malaysia's private consumption growth has been among the strongest in the region, and we expect it to remain robust in 2012, supported by high energy and palm oil prices, government cash transfers, and pay rises and bonus payments for civil servants and pensioners announced in the 2012 Budget," said economist Wu Kun Lung.

Credit Suisse is also optimistic about fixed investment this year, saying the government's Economic Transformation Programme should help boost investment, led by capital spending by government-linked companies.

Fixed investment growth in recent quarters rose only by 4.5 per cent year-on-year in the first three quarters of 2011, lower than the government's 10 per cent target.

Wu thinks there is much more scope for foreign direct investments (FDIs) to rise, provided the government continues with its structural reform plan.

FDI inflows were broad-based in the first three quarters of last year, with a significant rise in investments from Japan and Singapore.

While Malaysia has made some progress in terms of structural reforms, as seen in the global competitiveness index and the ease of doing business survey, its ranking on the corruption perception index has deteriorated, he noted.

On the scenario of a likely disastrous outcome should the eurozone break up, Wu said: "The risks of a eurozone break-up remain uncomfortably high. In a crisis scenario, we think Malaysia's GDP could easily contract by over one per cent in 2012," he said.

Capital outflows to GDP ratio could also surpass 30 per cent while the fiscal deficit could rise, he added.

According to Wu, the share of exports to GDP in Malaysia has fallen by about 16 per cent since the global financial crisis.

"We estimate that a 12.5 per cent fall in import growth from the US and Europe would shave 5.5 per cent off Malaysia's GDP."

Meanwhile, Credit Suisse expects Bank Negara Malaysia to leave the overnight policy rate at three per cent till year-end.

It also expects the ringgit to appreciate to RM3.05 against the US dollar by end of this year from RM3.14, and expects the central bank to limit the ringgit's outperformance against other Asian currencies to avoid hurting growth.

http://www.btimes.com.my/articles/rup141a/pix_topright

newmalayan

January 16th, 2012, 03:46 AM

:lol::lol:dbkl is organization...hahaha,yep i kutuk dbkl.y?sbb kerja diaorg x bagus..and that the fact..But it doesnt mean aku hina malaysia.susah ke nak beza?haha..two different thing..im talking about patriotic,semangat cintakan negara...xde kena mengena pon kalau aku kutuk dbkl ke,mbsa ke,syabas ye..hahaha..aku cuma jelaskan pd org2 ni supaya berasa syukur dpt tinggal di bumi malaysia yg aman..susah ke nak paham NEWMALAYAN?.next time jgn main tuduh2 je..be smart!..ade paham?:)

me to be smart? thanks for the advice. and so should you. ;)

nazrey

January 16th, 2012, 09:56 AM

Malaysia woos RM120.4b Jan-Nov investments
Published: 2012/01/16
http://www.btimes.com.my/Current_News/BTIMES/articles/20120116145559/Article/index_html#ixzz1jbrOOfyI

http://img233.imageshack.us/img233/6039/malaysiaflag1.jpg

Malaysia attracted RM120.4 billion of investments in the manufacturing, services and primary sectors from January to November last year, Trade Minister Mustapa Mohamed said in a statement today.

Domestic investments accounted for RM69.2 billion, or 57.5 per cent of the total, while foreign investment was RM51.2 billion, he said. -- Bloomberg

nazrey

January 16th, 2012, 03:52 PM

nazrey

January 16th, 2012, 03:54 PM

By any name, moderation smells as sweet
The West and ‘Rest’ must create a world where all can prosper
16 January 2012 | last updated at 08:29am
http://www.nst.com.my/opinion/columnist/by-any-name-moderation-smells-as-sweet-1.32893#ixzz1jdJeIHQT

http://www.nst.com.my/polopoly_fs/1.32896.1326673725!/image/image.jpg_gen/derivatives/landscape_454/image.jpg

Then president of South Korea, Kim Dae-jung, meeting Datuk Seri (now Tun)
Dr Mahathir Mohamad in 2000. Kim’s ‘Sunshine Policy’ to engage the North
Koreans was seen by some US security hawks as weak.

MODERATION, at a cursory glance, appears to be foreign policy apologia, due to its suggestive parallel to appeasement.
It was British appeasement in 1939, some scholars argued, that allowed Hitler to embark on European domination at the start of World War 2.

To the degree appeasement is seen as synonymous with moderation, the latter has been regarded as a dirty word.

When the United States sought to relax its tensions with the Soviet Union in the Cold War -- to avert a nuclear face-off -- the diplomatic gambit was described as "detente". Historically, there have been several attempts to avoid the use of the word "moderation", even though countries had accepted its value.

When the US had successfully normalised its relations with Communist China in 1979, the Sino-US ties were described as rapprochement. When West Germany sought to do the same, by relaxing its tensions with East Germany through Ostpolitik, the word moderation, too, never appeared.

More recently, when the US agreed to hold dialogues with the tribal elders in Iraq, and eventually the Taliban in Afghanistan, these two initiatives were deemed to be an anti-insurgency campaign.

Once again, moderation was never mentioned. At every juncture, it seems the West was determined to project a mantle of strength and invincibility.

This is fine if the West is indeed at the top. But it is a lexicographical sham when it is not. The time is nigh for the West -- with its shrinking and greying demographics -- to work closely with an emergent Asia and the rest of the developing world.

It is in the strategic interest of the West to show, practise and engage in moderation without which any efforts by emergent Asia to model itself on equalling the West -- or superseding it -- would likely result in ecological, and environmental catastrophe that can only undercut the lifestyle and livelihood of the West.

The West must undertake every attempt to jointly manage and create a world where all can prosper in a sustainable manner. The same impulse for moderation must of course be shared by the "Rest" too. For now, the West must overcome the taboo about using the word moderation and distance itself from criticising others that believe in it.

When South Korea's president, Kim Dae-jung, launched the "Sunshine Policy" in 1998 to engage the North Koreans, for example, he was seen by some US security hawks as weak. When Asean tried to engage Myanmar in the mid-1990s, it, too, was regarded as politically cowardly, even when Asean had the best intention of speeding up reforms in the country.

When Indonesia refused to declare Jemaah Islamiyah a terrorist organisation, largely due to the fear of driving it underground which would have made it more difficult to monitor, Jakarta was also seen as uncommitted to combating jihadist Islam.

Such protestations continue to reverberate in the West. Contemporary analysts bent on accusing others of bending to the will of the the Iranians, the Chinese or the North Koreans, (still) tend to equate moderation with appeasement. Yet, when it served its purpose, the West held secret and diplomatic dialogues with these countries, often through third parties like Turkey and Brazil.

In sum, the West has already practised moderation without calling it such. And, since it is not an open policy, the Western practice is merely tactical, not broadly strategic. But the sooner the West uses moderation openly in its statecraft -- ideally in all its forms, not just in security and defence matters -- the sooner it will understand that its remaining primacy revolves on jointly using it with the Rest.

The Global Movement of the Moderates (GMM) convention, to be held in Kuala Lumpur from tomorrow to Thursday, may yet be one platform for the West, and the Rest, to understand how moderation is a strategic asset.

Indeed, moderation is not for losers. It is the art and science of the most strategic thinkers.

And declaring the importance of moderation is not akin to conceding that extremism is powerful. It is the reverse: extremism is weak when moderation is globalised.

nazrey

January 16th, 2012, 03:55 PM

World's biggest offshore oil project sealed
16 January 2012 | last updated at 08:24pm
http://www.nst.com.my/top-news/world-s-biggest-offshore-oil-project-sealed-1.33058

http://www.nst.com.my/polopoly_fs/1.33059.1326713844!/image/image.jpg_gen/derivatives/landscape_454/image.jpg

Prime Minister Datuk Seri Najib Razak looks on as Chief Executive Officer Royal
Ducth Shell plc, Peter Voser (second from left) shake hands with President
and Chief Executive Officer Petronas, Datuk Shamsul Azhar Abbas after
witnessing the signing ceremony of the world's biggest offshore oil project in
Putrajaya. NST Pix by Fariz Iswadi Ismail.

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today witnessed the signing ceremony of the world's biggest offshore enhanced oil recovery (EOR) project totalling US$12 billion over 30 years between Petronas and Shell Malaysia.

Under the production-sharing contract for two EOR offshore projects in Sarawak and Sabah, the oil companies will develop nine oilfields in the Baram Delta and four oilfields in the North Sabah development area using EOR or other appropriate related technologies. - Bernama

Skyprince

January 16th, 2012, 04:59 PM

patchay

January 16th, 2012, 05:59 PM

It's a big day for Truly Asia!

Malaysian govt sells national carmaker Proton stake to conglomerate DRB-HICOM for 1.29 billion ringgit
REUTERS | Mon Jan 16, 2012 3:52am EST | By Niluksi Koswanage

* Biggest divestment so far for Khazanah
* Deal is for cash at 5.50 ringgit per Proton share
* Analysts keen to see if Lotus will be sold off

KUALA LUMPUR, Jan 16 (Reuters) - Malaysia's state investment arm Khazanah is selling its 42.7 percent stake in domestic carmaker Proton to conglomerate DRB-Hicom for $411.9 million, part of the government's strategy to boost liquidity in the local stock market and monetise assets.

The offer to Khazanah -- its largest divestment of government-linked firms so far -- was made at 5.50 ringgit per Proton share, representing a 6.2 percent premium to Proton's last closing share price.

The investment firm said in a statement on Monday the deal was facilitated by "an acceptable offer price" from autos-to-property conglomerate DRB-Hicom, owned by Malaysian tycoon Syed Mokhtar Al-Bukhary.

Once the king of the road, Proton's fortunes have dwindled with its market share falling to around 30 percent from more than two-thirds just over five years ago due to greater competition as Malaysia liberalized its auto market.

It has been on the hunt for a foreign partner since Japan's Mitsubishi Motors Corp., which helped set up Proton in the early 1980s, sold its stake in 2004 due to financial problems. But previous alliance talks with Volkswagen and General Motors collapsed.

Read More:
>>> http://www.reuters.com/article/2012/01/16/proton-drb-khazana-idUSL3E8CG02E20120116
>>> http://www.chicagotribune.com/news/nationworld/sns-bc-as--malaysia-proton,0,2060887.story
>>> http://www.washingtonpost.com/business/malaysian-conglomerate-drb-hicom-to-buy-national-carmaker-proton-in-a-957-million-deal/2012/01/16/gIQAdB5M2P_story.html

Malaysians know very well the country is going bankrupt if the Government:
- do not stop the corruption outbreak,
- cut-down subsidies,
- cut-down on civil workforce,
- cut-down on military hardwares, and
- have new sources of income, example from oil recovery and implementation of our first ever goods and services tax (GSTs) and other value-added taxes (VATs).

However, today there was a small sign of relief:

Shell, Petronas in US$12b (RM37.7 billion) oil recovery deal for Malaysia offshore
TheStar | Business Times | Jan 16, 2012

Royal Dutch Shell Plc and Petroliam Nasional Bhd will jointly invest US$12 billion over 30 years to recover oil off Malaysia’s Sarawak and Sabah coasts as the country seeks to extend the life of its diminishing reserves.

The production-sharing partners aim to extract 750 million barrels of oil from the two projects by increasing recovery rates, Shamsul Azhar Abbas, chief executive officer of Petroliam Nasional, or Petronas, said in a speech today in Putrajaya, near Kuala Lumpur.

This should extend the fields’ lives beyond 2040, he said.

Read More:
>>> http://www.btimes.com.my/Current_News/BTIMES/articles/20120116182924/Article/index_html
>>> http://thestar.com.my/news/story.asp?file=/2012/1/16/nation/20120116182505&sec=nation

Malaysia woos RM120.4 billion (US$38.2b) Jan-Nov 2011 investments
Business Times | Jan 16, 2012
http://www.btimes.com.my/Current_News/BTIMES/articles/20120116145559/Article/index_html

KUALA LUMPUR: Malaysia attracted RM120.4 billion of investments in the manufacturing, services and primary sectors from January to November last year, Trade Minister Mustapa Mohamed said in a statement today.

Domestic investments accounted for RM69.2 billion, or 57.5 per cent of the total, while foreign direct investment was RM51.2 billion (US$16.25b), he said. -- Bloomberg

To the joy of many ASEAN travllers... AirAsia Facebook has officially announced Sydney flights this evening.

AirAsia X finally set to start Sydney flights
The Sydney Morning Herald | Jan 14, 2012

AFTER four years of lobbying, Malaysia's long-haul budget airline AirAsia X is on the verge of launching flights between Sydney and Kuala Lumpur.

Clearance from Malaysian regulators for AirAsia X, a long-haul offshoot of Asia's largest budget airline, AirAsia, to fly to Sydney came as the airline announced that it would ditch long-haul flights to Europe and India, blaming high jet fuel prices and weakening demand for air travel.

Goldman Sachs analysts downgraded their recommendation on Qantas from ''buy'' to ''hold'' yesterday, reflecting a weaker economic outlook, the high fuel prices and lower expectations for premium travel demand.

AirAsia X's chief executive, Azran Osman-Rani, said yesterday he was hopeful of launching flights to Sydney but wanted to ensure all the ground work was done before confirming services.

Read More >>> http://www.smh.com.au/travel/travel-news/airasia-x-finally-set-to-start-sydney-flights-20120116-1q22v.html

newmalayan

January 17th, 2012, 01:54 AM

It's a big day for Truly Asia!

Malaysians know very well the country is going bankrupt if the Government:
- do not stop the corruption outbreak,
- cut-down subsidies,
- cut-down on civil workforce,
- cut-down on military hardwares, and
- have new sources of income, example from oil recovery and implementation of our first ever goods and services tax (GSTs) and other value-added taxes (VATs).

what? wants G to implement GST and VAT? some more cut down subsidies? :lol:

nanti kata 'kerajaan tak peduli beban rakyat' lah, government this, government that. susah.

no wonder Singapore can progress as they have no idiot opposition. China too.

patchay

January 17th, 2012, 01:03 PM

what? wants G to implement GST and VAT? some more cut down subsidies? :lol:

nanti kata 'kerajaan tak peduli beban rakyat' lah, government this, government that. susah.

no wonder Singapore can progress as they have no idiot opposition. China too.

I tak kata beban rakyat pun???

You see the thing is GST, if implemented correctly excluding the first few years, will not bring food prices up but rather will stabilised our long term inflation.

Furthermore, it is possible that not every essential goods, i.e. rice, fuel, school books, raw chicken meat, etc... will have GST anyway. However, these are the goods that have subsidies and/or price ceiling right now, and have to be cut to reflect actual prices.

I'm too lazy to explain Economics for now.

Munchausen

January 17th, 2012, 05:38 PM

some people need to learn ECONOMY............. thoroughly

newmalayan

January 18th, 2012, 01:35 AM

I tak kata beban rakyat pun???

You see the thing is GST, if implemented correctly excluding the first few years, will not bring food prices up but rather will stabilised our long term inflation.

i didn't say YOU would say that, but you 'Dear Leader' would. :lol:

nazrey

January 18th, 2012, 04:55 PM

'DRB-HICOM has workable business plan for Proton'
Published: 2012/01/18
http://www.btimes.com.my/Current_News/BTIMES/articles/17AIMS/Article/index_html#ixzz1jsulAC20

Product renewal and enhancement is one of the major agenda lined up by the company for Proton, says DRB-HICOM group managing director

UPON acquiring Khazanah Nasional Bhd's 42.7 per cent stake in Proton Holdings Bhd, DRB-HICOM aims to put into action and realise a workable business model for the national car maker, with special emphasis on electric and hybrid cars.

In a statement, DRB-HICOM group managing director Datuk Seri Mohd Khamil Jamil said the move means that product renewal and enhancement is one of the major agenda lined up by the company for Proton.

"As automotive technology evolves, green technology has gained momentum as well as the approval of many environmentally conscious consumers. As such, hybrid and electric vehicles are one of the main focus areas.

"Proton will continue to strive to cater to its consumers' needs, tastes and lifestyle requirements as well as be in line with global automotive market trends," he added.

Mohd Khamil said as both DRB-HICOM and Proton work hand-in-hand to promote performance and diversify product offerings, it will be crucial for the national automaker to broaden its talent capabilities and raise the quality of its workforce.

The International College of Automotive (ICAM) established by DRB-HICOM can provide one of the best synergies and perhaps be the golden key to Proton's core competence to unlock the future for Proton."

"ICAM, the only local centre of education that offers automotive courses covering both upstream as well as downstream of the total automotive value chain, also prides itself with a unique holistic teaching approach enlisting teaching personnel who are also industry professionals," he said.

Mohd Khamil also said as the government continues with efforts to enlarge the nation's automotive industry, the National Automotive Policy should also be able to reach out and encourage global players to intensify their presence and investments in Malaysia.

"DRB-HICOM will maintain its intention and interest to safeguard Proton while at the same time encourage, facilitate, grow and enhance Malaysia's national automotive industry, hence making it a preferred automotive hub capable of rivalling its neighbours." Bernama

nazrey

January 18th, 2012, 04:58 PM

ETP mega projects to spur mechanisation investments: CIDB
Zurinna Raja AdamPublished: 2012/01/18
http://www.btimes.com.my/Current_News/BTIMES/articles/20120117215132/Article/#ixzz1jsvBGNO2

KUALA LUMPUR: Construction Industry Development Board (CIDB) CIDB expects mega projects under the Economic Transformation Programme (ETP) to spur investments in mechanisation by industry players.

The ETP projects which will be rolled out this year include the Sungai Buloh-Kajang MRT line and development of the 1,200 ha Sungai Buloh land.

CIDB chief executive officer Datuk Seri Dr Judin Abdul Karim said the RM40 billion MRT project is expected to stimulate property development along the MRT line, with some developers leveraging on this development by building affordable homes in the suburbs near the MRT line.

"These projects will spur the mechanisation investment and transformation of local construction industry. In addition, this sector will also see an increase in green technology initiatives and products," he said.

He said investing in technology like Industrialised Building System (IBS) will also help to lessen the country's dependence on foreign workers.

"Due to the constraint of resources and time, if construction players remain in conventional way, development could be delayed and in turn will see a burgeoning development cost. This is the main challenge in the construction industry today," Judin said at the preview of International Construction Week here, yesterday.

The construction industry is expected to grow by 7 per cent this year, the highest as compared to all other sectors this year. In 2011, total projects awarded in the domestic market was about RM80 billion.

CIDB is organising the 11th International Construction Week 2012 (ICW 2012), which will take place in Kuala Lumpur between February 13 and 16 this year.

Prime Minister Datuk Seri Najib Tun Razak will be launching the event, themed "Transformation", on February 14.

nazrey

January 18th, 2012, 05:01 PM

Malaysia inflation likely to fall in Dec
By Rupa DamodaranPublished: 2012/01/18
http://www.btimes.com.my/Current_News/BTIMES/articles/rup17dd0/Article/#ixzz1jswYdUWt

KUALA LUMPUR: Consumer Price Index, the official barometer of inflation, is likely to show a lower reading in December, an indication of lower inflationary pressures, said economists.

A Business Times poll expects the CPI to record an average reading of 3.09 per cent year-on-year for December.

The Statistics Department will release the details today.

Gundy Cahyadi of OCBC Bank thinks inflation has peaked in Malaysia and the December number should reflect this moderation.

"Prices are relatively lower compared with the earlier half of the year, and thus, the annual inflation figure is likely to be lower too."

He said signs of slowdown in domestic demand mean that pressures from the demand side have generally subsided as well.

Citibank, however, said compared with November, the CPI is likely to have risen by 0.2 per cent.

It said the softening external outlook has reduced demand-pull inflation pressures, though not eliminated them completely.

"We think food prices will remain sticky given lingering supply disruption from Thailand, though these could be kept in check by government food price controls and subsidies," it added.

Economists polled expect the CPI to moderate to below 3.0 per cent in 2012. Standard Chartered Bank expects inflation to be less of a concern in 2012.

If the government maintains subsidies as expected (especially for fuel), this should reduce inflationary pressure, giving Bank Negara Malaysia more policy flexibility, it said.

http://www.btimes.com.my/articles/rup17dd0/pix_topright

nazrey

January 19th, 2012, 07:25 AM

Khazanah posts best-ever gross profit of RM5.3b
By Roziana Hamsawi Published: 2012/01/19
http://www.btimes.com.my/Current_News/BTIMES/articles/20120119010140/Article/index_html

Khazanah Nasional Bhd recorded its best-ever gross profit in 2011,
with much of the year’s performance boosted by its strategic investments, particularly the privatisation of PLUS Expressways.

The state investment fund yesterday announced a gross profit of of RM5.33 billion for the year ended December 31 2011, some 156 per cent higher than the RM2.1 billion it reported in 2010. The better performance will enable Khazanah to declare a record dividend payout of RM3 billion.

Its total investment portfolio, meanwhile, declined marginally, dragged by softer markets especially in regulated companies.

The investment portfolio’s adjusted net worth dropped 6.9 per cent to RM70 billion from RM75.2 billion in 2010 although this is still 110 per cent higher than the start of Khazanah’s programme in May 2004, and 30 per cent higher than the RM53.8 billion at the end of 2009.

Khazanah’s managing director Tan Sri Azman Mohktar attributed the slight drop in portfolio performance last year to three companies, namely CIMB group which was affected by regulatory uncertainty in Indonesia, Tenaga Nasional Bhd due to the gas shortage and other regulatory issues, and Malaysia Airlines.

Reviewing Khazanahís 2010 performance to the media here yesterday, Azman said the fund made a total of 13
investments amounting to RM5.8 billion last year and eight divestments that brought in proceeds of RM7.7 billion, while gains generated totalled RM2 billion.

Among its key transactions and collaborations were the disposal of its 32 per cent stake in Pos Malaysia to DRBHICOM at RM622.8 million; joint investments with Temasek Holdings for projects in Iskandar Malaysia with gross development value of RM30 billion and the much-talked about collaboration
between Malaysia Airlines and AirAsia.

Reviewing the government-linked company (GLC)'s transformation programme, Azman said GLCs continued to grow at pace with the forecast aggregate earnings of the 20 largest companies for 2011 estimated at RM19 billion and this is expected to rise to RM23.1 billion next year.

He noted that the Khazanah-linked companies in that group of 20 firms recorded a total shareholder return of 15.1 per cent per year, outperforming the rest of the FTSE Bursa Malaysia Kuala Lumpur Composite Index by two per cent per year.

This year, Azman said, Khazanah is cautious on its investment but will continue to do gradual and orderly divestment of non-core assets and holdings and roling out new economic investments, especially in Iskandar Malaysia.

Asked if Khazanah wants to see more of its portfolio companies making inroads outside Malaysia, he said the current 80:20 ratio is about right.

http://www.btimes.com.my/articles/20120119010140/pix_bottom

nazrey

January 19th, 2012, 08:15 AM

Government eyes hybrid carmakers
By SHARIDAN M. ALI Thursday January 19, 2012
http://biz.thestar.com.my/news/story.asp?file=/2012/1/19/business/10287797&sec=business#13269572093881&if_height=593

http://biz.thestar.com.my/archives/2012/1/19/business/b_02mukhriz.jpg

Mukhriz and Briscoe with the BMW Vision EfficientDynamics concept car.

KUALA LUMPUR: The Government is talking to several multinational automotive companies on the possibility of them assembling hybrid cars in Malaysia for the Asean market.

International Trade and Industry Deputy Minister Datuk Mukhriz Mahathir said the negotiations were at various stages, with some companies seriously looking at Malaysia.

“Of course, there's an issue whether the local market is big enough for them to come here but we are looking from an Asean point of view.

“Besides carmakers, we are also attracting international companies that produce car components, including hybrid components, to come here,” he said after officiating the showcase of BMW Vision EfficientDynamic concept car.

In terms of incentives, Mukhriz said the Government had extended the excise duty exemptions on hybrids and electric vehicles to December 2013.

On competition with Proton, which is also serious in developing its own electric and hybrid cars, he said the green technology in the automotive industry was not matured yet.

“Anyone with the right technology can make inroads into the market.

“Proton has its own versions where it uses quite an interesting approach (in developing these types of cars) compared with others and I am quite confident it will make a breakthrough in this area,” he said.

Mukhriz was pleased to see companies like BMW taking proactive steps to provide clarity around new innovations in Malaysia, particularly with its efforts in advanced diesel, active hybrid and electric vehicles.

“The BMW Vision EfficientDynamics concept car is a true testament to the possibilities driven by technology,” he said.

BMW Group Malaysia managing director Geoffrey Briscoe said BMW had high hopes to break another record sales this year, banking on the expected launch of the new BMW 3 series model in March.

nazrey

January 19th, 2012, 09:16 AM

Malaysia welcomes proposed 'Environmental Courts'
16 January 2012
http://www.nst.com.my/latest/malaysia-welcomes-proposed-environmental-courts-1.33087

KUALA LUMPUR: The World Wide Fund for Nature-Malaysia (WWF-Malaysia) has welcomed the proposed introduction of "environmental courts" in the country.

It expressed hope that the initiative would play a key role towards establishing frameworks that effectively institutionalise the capacity and role of the judiciary in the application of environmental law and policy that ultimately support sustainable development.

WWF-Malaysia said the move would promote and define environmental justice in the country by strengthening environmental laws and regulations as well as improve governance mechanisms.

"We're certain that the proposed establishment of a specialised court that adjudicate environmental matters will go a long way in ensuring strict implementation, enforcement and compliance of environmental laws and policy in the country," its executive director and chief executive Datuk Dr Dionysius Sharma said.

Chief Justice Tan Sri Arifin Zakaria had said that specialised environmental courts may soon be introduced in the country at the opening of the 2012 Legal Year and Conference of Judges in Putrajaya. - Bernama

WWF-M’sia welcomes establishment of environmental courts
Posted on January 17, 2012, Tuesday
http://www.theborneopost.com/2012/01/17/wwf-msia-welcomes-establishment-of-environmental-courts/

KUCHING: WWF-Malaysia (World Wide Fund for Nature-Malaysia) welcomes Chief Justice Tan Sri Arifin Zakaria’s announcement of the establishment of ‘environmental courts’ during the opening of the 2012 Legal Year and Conference of Judges recently.

“WWF-Malaysia has been a long time advocate for robust regulatory framework that aim to protect our environment and biodiversity and implement sustainable development principles.

“We are certain that the proposed establishment of a specialised court that adjudicate environmental matters will go a long way in ensuring strict implementation, enforcement and compliance of environmental laws and policy in the country.

“We are certainly encouraged by the Chief Justice’s outlook that environmental issues must be prioritised,” said WWF-Malaysia executive director cum CEO Dato Dr Dionysius Sharma in a press statement yesterday.

WWF-Malaysia hopes that this initiative will play a key role towards establishing frameworks that institutionalise the capacity and role of the judiciary effectively in the application of environmental law and policy to support sustainable development.

In addition, it will also promote and define environmental justice in the country by strengthening environmental laws and regulations, improving governance mechanisms, equitable decision making in matters where economic development conflict with environmental objectives, and last but not least, ensuring accountability in environmental decision making.

For more information, the public are advised to contact 03-78033772 or visit their website at http://www.wwf.org.my/.

nazrey

January 19th, 2012, 09:30 AM

RM38 billion East Malaysia EOR projects set to revitalise O&G sector
Posted on January 18, 2012, Wednesday
http://www.theborneopost.com/2012/01/18/rm38-billion-east-malaysia-eor-projects-set-to-revitalise-og-sector/

http://cdn.theborneopost.com/newsimages/A013116768.jpg

REVITALISATION: AmResearch believes that the front-end engineering work
for the EOR projects will likely be undertaken by foreign players but Malaysian
operators remain the preferred players to fabricate and install the new
offshore structures in the fields.

KUCHING: The oil and gas (O&G) sector is expected to undergo a revitalisation with the signed production sharing contracts (PSCs) for the use of enhanced oil recovery (EOR) technologies between Petroliam Nasional Bhd (Petronas) and Shell Malaysia Ltd (Shell) in two oil field projects offshore East Malaysia.

The contracts, with an investment of US$12 billion (RM38 billion) over 30 years, would cover nine oilfields in the Baram Delta off Sarawak and four fields in the North Sabah development area, following the heads of agreement signed between the two parties back in November last year.

In a sector update, AmResearch Sdn Bhd (AmResearch) noted, “These investments are expected to extend the life of the fields beyond 2040 with Petronas and Shell aiming to raise the fields’ recovery factor from 36 per cent to about 50 per cent.

“Petronas’s chief executive officer Shamsul Azhar Abbas said about 750 million barrels of oil reserves were expected to be recovered through the developments, translating into tens of thousands of extra barrels produced per day.

“We believe that the front-end engineering work for these EOR projects will likely be undertaken by foreign players such as Technip or Aker Solutions. But Malaysian operators such as MMHE Sdn Bhd and SapuraCrest Kencana Petroleum Sdn Bhd remain the preferred players to fabricate and install the new offshore structures in the fields.”

The Baram Delta EOR development included the Bokor, Bakau, Baram, Baronia, Betty, Fairley Baram, Siwa, Tukau and West Lutong oilfields, while the North Sabah EOR development would cover the St Joseph, South Furious, SF30 and Barton fields.

Petronas would be the operator of the Baram Delta EOR PSC and hold a 60 per cent interest with Shell holding the remaining 40 per cent through its subsidiary Sarawak Shell Bhd. Shell would operate the North Sabah EOR PSC with each company holding a 50 per cent share.

Shell had unveiled a tender for its first vessel-based chemical-enhanced oil recovery project for the St Joseph field involving the injection of a water and chemical cocktail to boost recovery over five to eight years from late 2013.

The pilot vessel was likely to be a converted unit, initially equipped to handle 10,000 barrels per day of water and chemical injection during the pilot phase, AmResearch opined.

Media reports stated that interested bidders were M3nergy, Bumi Armada Bhd, SapuraCrest Petroleum Sdn Bhd, Delcom Services Sdn Bhd (under listed parent company Deleum Bhd), Tanjung Offshore Bhd (Tanjung Offshore) and Norway-based BW Offshore.

“Other players which could potentially benefit are Dialog Group Bhd for fabrication and specialist services, UMW Holdings Bhd’s O&G division for oil country tubular goods and pipelines and rig services, and Wah Seong Corporation Bhd for gas compression modules and pipe-coating services.

“Vessel operators such as Bumi Armada Bhd, Alam Maritim Resources Bhd, Tanjung Offshore, Sealink International Bhd and Perdana Petroleum Bhd could also secure fresh charter contracts,” the research house opined.

nazrey

January 19th, 2012, 09:33 AM

M’sia to host 2012 World Robotics Olympiad
Posted on January 19, 2012, Thursday
http://www.theborneopost.com/2012/01/19/msia-to-host-2012-world-robotics-olympiad/

http://cdn.theborneopost.com/newsimages/A2902.jpg

PRE-LAUNCH: Muhyiddin pressing the button to launch the World Robot
Olympiad (WRO) in Kuala Lumpur. Also seen are Education Deputy Minister,
Datuk Ir Dr Wee Ka Siong and Education director Datuk Seri Abdul Gahafar Mahmud. — Bernama photo

PUTRAJAYA: Malaysia will host the World Robot Olympiad (WRO) in Kuala Lumpur from Nov 9-12.

Deputy Prime Minister Tan Sri Muhyiddin Yassin who attended the pre-launch of the WRO said the opportunity to host the WRO must be optimised by producing more competent students
in the field of science and technology.

“I hope the Education Ministry can form 50 robotic clubs and equip them with the necessary skills to compete against competitors from other countries during the WRO,” Muhyiddin who is also the Education Minister said in a statement.

Four hundred participants from 40 countries are expected to participate in the 2012 WRO.

Muhyiddin also launched the official website for the WRO, www.wro2012.org which will provide all the necessary information about the event.

WRO is an annual competition held since 2004 and provides an opportunity for winners of the national level competition organised by the Education Ministry, Sasbadi Sdn Bhd and the Ministry of Science, Technology and Innovation.

Since 2004, Malaysia has clinched the overall title twice, in 2009 and 2010, and has also won seven gold, eight silver, five bronze medals plus 21 excellence awards. — Bernama

nazrey

January 19th, 2012, 05:16 PM

nazrey

January 19th, 2012, 05:17 PM

Poverty and extremism are arch-enemies
Thursday January 19, 2012
http://thestar.com.my/news/story.asp?file=/2012/1/19/nation/10292575&sec=nation

KUALA LUMPUR: Former prime minister Tun Abdullah Ahmad Badawi said poverty and extremism are arch-enemies of moderation, adding that poverty is a grave threat to global stability as it provides breeding grounds for extremism.

“I strongly believe the elimination of poverty and the provision of good governance are the keys in the fight against extremism and violence,” he said in his address on Human Capital Development: The Key To Moderation at the International Conference on the Global Movement of Moderates here yesterday.

Abdullah said that while wasatiyyah (moderation) could eliminate extremism and make way for friendship and cooperation, it must have a manhaj or guide.

The manhaj, he said, is Islam Hadhari, which promotes progressive development and builds a moral society with strong religious and spiritual values.

At a forum on Democracy and Moderation, former Thai deputy prime minister Dr Surakiart Sathi*rathai said principles of moderation could guard a nation against financial mishaps.

Universiti Kebangsaan Malaysia’s Institute of Malaysian and Inter*national Studies director Dr K.S. Nathan said principles of moderation must be embraced for a sustainable period of time.

nazrey

January 19th, 2012, 05:18 PM

Reject every form of violence and extremism, urges Najib
By MAZWIN NIK ANIS, LEE YEN MUN and YUEN MEI KENG Wednesday January 18, 2012
http://thestar.com.my/news/story.asp?file=/2012/1/18/nation/10284312&sec=nation

http://starstorage.blob.core.windows.net/archives/2012/1/18/nation/n_p5Najib.jpg

Tea break: (From left) IIUM Alumni Association president Khalek Awang, Najib,
former Indonesian vice-president Yusuf Kalla, Tun Musa Hitam and Tun
Abdullah Ahmad Badawi attending the opening ceremony of the conference yesterday.

KUALA LUMPUR: Malaysia has called for the rejection of violence and extremism in all forms, saying that moderation is the best way forward.

Prime Minister Datuk Seri Najib Tun Razak also reminded that acts of violence and extremism were being perpetrated across the world by people of all faiths.

“It is not enough to say the solution to extremism is simply for more Muslims to speak up and speak out.

“We need to hear from moderates of all religions and, when we do, peace is there for all to see,” he said in his keynote address at the inaugural International Conference on Global Movement of Moderates here yesterday.

Najib told the gathering that extremism was not always violent, citing the global financial crisis as one of the most extreme yet ostensibly non-violent events in recent history.

He said the extreme and excesses of Wall Street took the world to the brink and the eurozone crisis resulted in millions losing their jobs, homes and security.

Najib first touched on the issue in his maiden speech at the United Nations General Assembly in 2010 when he raised the need for moderates from all faiths to reclaim the agenda for peace and pragmatism.

He also spoke on the subject at the Oxford Centre for Islamic Studies in May last year, where he said the concept of wasatiyyah or moderation should be further explored.

The concept was incorporated in the communique at the recently concluded Commonwealth Heads of Government Meeting in Australia.

Najib said while moderation was an age-old value that runs right to the heart of the great religions, extremism had never been welcomed inside mosques, churches, synagogues and temples.

Najib announced a Global Movement of the Moderates Foundation would be set up to complement other initiatives for global dialogue and co-operation, such as the United Nations Alliance of Civilisations.

He also announced the formation of an Institute of Wasatiyyah (moderation), operating as part of the Prime Minister’s Office, to further the pursuit of moderation and balance, including respect for democracy, the rule of law, education, human dignity and social justice.

nazrey

January 22nd, 2012, 05:44 AM

Malaysia to see period of uncertainty in 2012
Posted on January 14, 2012, Saturday
http://www.theborneopost.com/2012/01/14/malaysia-to-see-period-of-uncertainty-in-2012/#ixzz1jVXWIlvn

PROLONGED RISK: Sharp and prolonged risk environment will affect the rankings of economies like Indonesia and Malaysia, forewarns MIDF Research, whereby fundamental risks can surface or defensiveness towards financial market linkages can come into play.

KUCHING: Malaysia is expected to undergo a ‘weak and bumpy’ global recovery this year, taking into account uncertainties within the global economic outlook.

According to the research team at MIDF Amanah Investment Bank Bhd (MIDF Research), a recession was ruled out in its base case growth projection as it expected European policymakers to be able to contain the crisis within its region.

“In drawing out our 2012 growth outlook for Malaysia, we used the ‘top-down’ approach, given that the Malaysian economy is vulnerable to global events in view of its highly open economy in nature,” highlighted the firm in its research report yesterday.

“After revisiting the global economy, we reiterated our previous view of a ‘weak and bumpy’ global recovery in 2012.”

Additionally, MIDF Research expected the US to strike a judicious balance between boosting growth and medium-term fiscal consolidation, capping volatility within global financial markets.

Also, the removal of monetary accommodation in G3 was expected to be paused in addition to further capacity constraints and policy tightening to lower Asean’s (excluding Japan) growth, but at solid pace.

“We also believe that both the US and Europe will not fall into recession as companies are still sitting on a huge cash pile and display healthy profit margins,” the team added.

“Oil prices fell from its peak early 2011 now acts as a partial stabiliser, lowering headline inflation and supporting household real disposable incomes.
“We expect the European Central Bank (ECB) and US Federal Reserve to lend additional support and the Fed implementing additional non-standard easing measures, while ECB easing rates further.”

Consequently, the impact of the global slowdown on Asean-4 countries (Singapore, Malaysia, Indonesia and Thailand) was likely to be non-linear.
“Much will depend on the severity and duration of the global slowdown and also the risk aversion.

“Sharp and prolonged risk environment will affect the rankings of economies like Indonesia and Malaysia,” forewarned MIDF Research. “Fundamental risks could surface, or defensiveness towards financial market linkages could come into play.”

Taking into account of the above assumptions, MIDF Research reiterated its 2011 global outlook of 3.9 per cent from 5.1 per cent in 2010 and forecast 2012 to expand by 3.7 per cent.

“We expect growth in G3 to remain anaemic, averaging at 1.5 per cent in 2011 and 1.8 per cent for 2012. Meanwhile, we project a still solid growth for Asean (excluding Japan) at 5.4 per cent in 2012 from a projected 5.5 per cent in 2011.

“If our assumption falls short, we expect the global growth to be lowered in 2012. It can happen if the risk of errors could emerge through policy errors,” it concluded.

Steady economic growth predicted this year
22 January 2012 | last updated at 02:01am
http://www.nst.com.my/top-news/steady-economic-growth-predicted-this-year-1.35642#ixzz1k9vHAZlS

IPOH: The country's economic growth will not be greatly affected by a recession in Europe or America.

Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said the projects under the government's Economic Transformation Programme (ETP) and new projects identified this year would be able to sustain the domestic economy's growth momentum.

He said the country's growth would only be affected marginally in the event of a recession, which is predicted to occur in Europe.

"If both Europe and America were to suffer from recession this year, our growth will only be affected by 0.7 per cent," he said after presenting Bantuan Rakyat 1Malaysia (BR1M) aid to more than 2,500 people in the Tambun parliamentary zone, here yesterday.

Ahmad Husni, who is also Tambun member of parliament, said the predictions were made by the Asian Development Bank in January last year.

While the World Bank's statistics last year predicted Malaysia's growth to be at 4.8 per cent, he said the overall growth for the year was at five per cent.

"This year's growth is also expected to be better than the previous year's."

He said the World Bank reports showed that Malaysia would not acquire more external debt with foreign reserves of Bank Negara Malaysia amounting to RM423.4 billion as at Dec 31.

"We do not need to borrow from outside as our foreign exchange reserves is enough to finance 9.7 months of retained imports and at four times the short-term external debt.

"Until September last year, we received RM75 billion in investments. Our target last year was RM83 billion, and we estimate that for the whole of last year we received more than RM90 billion worth of investments."

On reports of Indonesia receiving RM59.8 billion in foreign direct investment last year compared with Malaysia's RM31 billion, he said foreign investors were attracted to the republic's high economic potential due to its huge population.

"Investors were attracted by the population size, that's why Indonesia garnered more investments than us," Ahmad Husni said, adding that Indonesia was "still a developing country dependent on labour, while Malaysia has entered an era of creative technology and innovation."

nazrey

January 23rd, 2012, 01:24 PM

PM: Govt to do best to improve electroal system
Thursday, 18 August 2011 07:55
http://www.theedgemalaysia.com/politics/191521-pm-govt-to-do-best-to-improve-electroal-system.html

PORT KLANG: The government will do its best to improve the electoral system in the country, said Prime Minister Datuk Seri Najib Tun Razak.

He said towards this end, the government had agreed to set up a parliamentary select committee and that this showed its sincerity in wanting elections that were clean and fair.

The Barisan Nasional (BN) government was unafraid of changes to the electoral system as it wanted to ensure that the government of the day was returned by the people's mandate, he told a people's gathering for the breaking of the Ramadan fast at the Sri Perantau apartments here on Wednesday, Aug 17 which was attended by some 10,000 people.

Najib said that if the elections in the country were crooked, obviously the BN would not have surrendered Selangor to the opposition after the last general election.

The prime minister also reminded the people not to take for granted the peace and harmony they were enjoying or look down on the achievements that have been attained.

Instead, Malaysians should continue to preserve and value the peace and harmony they were enjoying, he said.

Najib said he could empathise with Britain's Prime Minister David Cameron who had to face riots in his country recently.

Cameron had said Britain, a country that practised parliamentary democracy, had lost the moral high ground because of a 'sick" segment of society which resorted to wanton rioting and looting in the aftermath of the killing of a youth by a policeman.

On Umno, Najib, who is also Umno president and Selangor Umno chief, said the government was willing to consider requests from the people of Selangor as voiced out by Kapar Umno for the 1Malaysia retail outlets and 1Malaysia clinics to be opened in the state.

He also extended his gratitude for the large turnout despite poison pen letters going around that he would not be turning up for the function.

Also present was Agriculture and Agro-based Industry Minister Datuk Seri Noh Omar, who is also Selangor Umno deputy chief.

RM200m polls plan
2011/08/17 By Farrah Naz Karim
http://www.nst.com.my/nst/articles/RM200mpollsplan/Article/

Company proposes biometric system to Election Commission

PUTRAJAYA: A company is proposing a RM200 million biometric system for use in the general election to the Election Commission.

However, several parties, including government agencies, are strongly resisting the proposal, which the commission is studying.

The New Straits Times learnt that the company would provide the commission with 25,000 Netbooks and 25,000 Dermalog fingerprint devices.

It will also provide a centralised back-end system for biometric verification and voting system with workflows.

The company is offering to convert fingerprint images to its Dermalog biometric template.

It will provide the commission with 14 million citizens’ records containing fingerprint images, portraits and demographic data, which it intends to download from the National Registration Department’s database.

However, the department, which is the custodian of the personal records of Malaysians, is averse to this plan. NRD said conversions to the Dermalog template would mean a drop in quality when compared with the quality of the Morpho template used in its database .

It insisted that EC use the Morpho template as it matched the template for MyKad.

Industry sources said the devices and system from the company would not be able to verify templates or minutiae (branching points of fingerprint ridge lines) in MyKad, despite being able to read MyKad information.

It is learnt that another company is hoping to be picked for the project and had in April quoted EC a price of RM300 million.

However, it recently revised this to RM160 million.

It is also understood that a third company had submitted a proposal, saying its system would cost less than a quarter of the cost quoted by other companies. It offered 2,500 Netbooks and readers.

This company said its devices could read all minutiae verification of the Morpho template in MyKad.

A source said: “The EC workflow is a proven system and the introduction of biometrics is only for identification pur poses.” The source said the government could save cost by allowing EC to use devices supplied for the scrapped petrol subsidy-control mechanism.

The third company said it would ensure the use of these devices was made possible. The devices, all 6,000 units with a display terminal, had not been used since the petrol subsidy schemewas scrapped.

The company is on the same wavelength with NRD on MyKad being the source for identification.

It said people with defective MyKad chips would have to change them before the general election.

NRD intends to replace its MyKad chips with higher quality ones from Januar y.

NRD sources expressed concern about a private company being allowed to extract personal data.

They said even in cases where the courts subpoenaed details of citizens, NRD officials would take the citizens’ documents to the courts to protect the information.

A NRD spokesman said it was still studying all the proposals.

Biometric voting system ready
Software is said to be able to prevent multiple voting
By EUNICE AU 23 January 2012 | last updated at 08:49am
http://www.nst.com.my/local/general/biometric-voting-system-ready-1.36109

http://www.nst.com.my/polopoly_fs/1.36111.1327248860!/image/image.jpg_gen/derivatives/landscape_454/image.jpg

A BIOMETRIC research and development firm said it has developed a software able to detect identical thumbprints in a system, thus enabling the Election Commission to clean up the electoral roll and prevent mutilple voting.

ASAP Bhd chief value provider P. Chakravertty said the system could complement indelible-ink voting.

"We will be approaching the EC and the Parliamentary Select Committee (PSC) soon as the system is ready to be deployed."

The Automated Fingerprint Identification System (AFIS) could, for instance, detect and flag two identification cards with matching thumbprints.

"EC officers can keep only one of these conflicting records," he said, adding that the system worked because thumbprints were unique.

AFIS, developed by a biometric research and development firm - Dermalog and distributed by ASAP, also had the capability of pre-loading voter data according to different constituencies into a specially made handheld device.

"This function would be helpful to EC officers armed with such devices on voting day," Chakravertty said.

He also said the AFIS programme on each handheld device could only be accessed by EC officers in charge.

The officers need to scan their MyKad and thumbprint to verify their identity before the programme can boot.

"When a voter shows up at a polling station, he or she can insert his or her MyKad into the reader. The system is compatible with both the old and new MyKad."

Chakravertty said once a MyKad was inserted, the person's photo would be displayed on screen and EC officers would be able to compare it to the person's physical attributes.

He said the system would check whether a person's thumbprint matched their IC number, whether the registered voters were in the right constituency and whether that person had cast a vote.

A green icon, depicting a man, will appear on screen if the voter has passed all three checks, while a red icon will pop up if the voter has failed the verification process.

Only those who have passed all three checks may vote. The system will bar further attempts of voting by the same person, due to their unique thumbprint.

Chakravertty said the system was immune to hacking because its codings were encrypted and the devices were not linked to each other through a network.

"Because the data is preloaded into each machine corresponding to voters' registered address, no voters will be able to vote in other areas as the machines there will not carry their details."

The standalone devices can be used in rural areas without the need to worry about electricity, as the devices have a 12-hour battery life.

Chakravertty said judging from the recent debates over the proposed electoral reforms, Dermalog had decided to volunteer its independent software solution to the EC. He said EC officers could learn the user-friendly system in a short period.

The New Straits Times had reported on Jan 12 that the final hurdle for indelible ink to be used in the 13th general election had been cleared when the National Fatwa Council ruled the substance to be halal.

The decision was made at a muzakarah (meeting), attended by the council's 22 members, representatives from the EC and the Chemistry Department, at the Islamic Development Department.

The indelible ink was one of the recommendations of the PSC on electoral reforms.