Countdown to 2020!

[davidwsk]

HwangDBS Vickers Research has re-rated the Malaysian property sector, calling it a “new dawn”

Posted on May 11, 2013 - Featured, Property News.

HwangDBS Vickers Research has re-rated the Malaysian property sector, calling it a “new dawn” on the back of upcoming mega initial public offerings, approval for new rail lines and the award of government land projects.

Beneficiaries include SP Setia Bhd, KLCC Real Estate Investment Trust (KLCC REIT), E&O Bhd and YTL Land & Development Bhd. Valuations are expected to be re-rated as sales and landbanking pick up.

Property analyst Yee Mei Hui said that it was business as usual now that the general election was over. There are likely to be no major changes in policies, as Federal and state governments for key markets in Kuala Lumpur, Selangor, Penang and Johor remain status quo. She said that launches should resume and sales should pick up as uncertainty dissipates.

“We upgrade E&O and YTL Land & Development to buy’ from hold’, and raise target prices across the board by 6% to 63%.

“For big caps, we like laggards like SP Setia, as its Battersea project in the United Kingdom is a game-changer to double earnings, while Malaysian Resources Corp Bhd stands to benefit from PJ Sentral, which could be the next KL Sentral,” Yee said.



“For exposure to Iskandar Malaysia, we see more value in small mid-caps like Crescendo Corp Bhd and Daiman Development Bhd versus UEM Land Holdings Bhd after the recent strong rally.”

She added that there would be potential competition from new bellweather stock IOI Properties Bhd and other Khazanah Nasional Bhd-led vehicles seeking listing, for instance, Iskandar Waterfront Holdings Sdn Bhd, Medini Iskandar or other potential themed attractions.

For the KLCC stapled security, Yee has factored in the potential injection of the Suria mall into the REIT, which will boost her sum of parts by 17%.

Yee said that the mega listings, which range from market capitalisations of RM9bil to RM13bil such as for KLCC REIT, Iskandar Waterfront and IOI Properties (which will be the largest developer by earnings), would help re-rate the sector.

“We are more positive on IOI Properties, given the dearth of sizeable entrepreneurial-driven developers with strong track records and earnings growth.

“The approval of the MRT 2 and 3 lines and the KL-Singapore high speed rail, along with the acceleration in awards of government redevelopment projects such as the Rubber Research Institute of Malaysia land in Sungai Buloh, the financial district of Tun Razak Exchange and Bandar Malaysia in Sungai Besi, should also boost interest in the sector,” noted Yee.


http://www.starproperty.my/index.php...-it-a-new-dawn

[nazrey]

BN manifesto
The national BN manifesto pledges the following commitments to be realised within the next 5 years if and when they secure a mandate to form the next Malaysian government:

Cost of Living
Increasing financial assistance (BR1M) to RM1200 for households and RM600 for singles annually
Increasing 1Malaysia Book Vouchers to RM300 and Schooling Aid to RM150
Gradually reduce car prices by 20–30%
Increase the competitiveness of national cars
Increase the number of Kedai Rakyat 1Malaysia
Introduce 1Malaysia products in petrol stations and hypermarkets
Open 1Malaysia clinics in high density housing communities
Set up more 1Malaysia Day Care Centers
Lower broadband fees by at least 20% with guaranteed bandwidth
Introduce a 1Country 1Price policy for essential goods
Introduce more 1Malaysia products

Urban Well-being
Set up a new Ministry to address urban economic and social challenges
Increase representation of NGOs and civil society in local government
Rehabilitate low cost houses and flats in cities
Undertake the maintenance of public housing infrastructure
Provide quality public housing, catering to the needs of the younger generation
Provide recreational areas and facilities in urban centres
Ensure sufficient educational, training and healthcare services and facilities
Improve the transport links between urban centres and their surrounds
Open more temporary shelters for the homeless in high demand areas

Affordable & Secure Housing
Build 1,000,000 affordable homes including 500,000 PR1MA houses
Pricing PR1MA houses at 20% below market prices or cheaper
Introduce a lease and own scheme for Government housing projects
Revive abandoned housing projects
Assist poor home owners to rehabilitate their houses
Replace squatter settlements with permanent housing
Improve housing in estates and providing houses for former estate workers
Abolish stamping fees for first home purchases below RM400,000

Quality Health Services
Provide every Malaysian with access to quality healthcare
Establish a Heart Centre and Cancer Centre in 6 locations (4 in Peninsular Malaysia, 1 each for Sabah and Sarawak)
Provide public facilities for dialysis treatment in every high-density area
Provide discounted prices of specific medications for Malaysians with special needs
Introduce a support system for palliative home care for the aged and terminally ill

Public Transportation
Expand the Rapid Bus System to every state capital, with facilities for the aged and disabled
Continue expansion of rail systems
Build integrated bus, rail and taxi terminals in all towns and cities
Re-route buses to ensure more efficient and accessible services
Increase individual taxi permits
Implement a national high speed rail and expand the double-tracked railway system

Infrastructure Development & Rural Transformation
Rapidly expand the North-South Expressway with more lands and exits
Build a Pan Borneo Highway from Semantan, Sarawak to Serudung, Sabah
Extend the East Coast Highway from Kuala Krai – Kota Bharu & Gambang – Segamat
Build a West Coast Highway from Banting to Taiping
Reduce intra-city tolls
Implement the 21st Century Village concept
Build more paved roads (6,300 km in Peninsular Malaysia, 2,500 km in Sabah and 2,800 km in Sarawak)
Solve the water supply problems in Selangor, Kuala Lumpur and Kelantan
Extend supply of clean water to another 320,000 homes
Expand electricity supply to another 146,000 homes
Compel service providers to ensure quality mobile phone services

Economy
Attract RM1.3 trillion of investments
Create 3.3 million new jobs, two million of which will be in high-income sectors
Build towards a per capita income of US$15,000 by year 2020
Provide special incentives for innovative and creative ventures
Implement policies that are fair and equitable to all races in Malaysia
Enhance the effectiveness of the Bumiputra agenda
Allocate more land and increase productivity of land for food and livestock production
Reform the tax structure to reduce personal and corporate tax
Continue special funding exceeding 20% of oil and gas revenue to oil and gas producing states
Establish a National Trading Company to source overseas markets for SME products
Create & promote more global and regional champions
Divesting non-strategic GLCs and increasing outsourcing programmes for Bumiputra companies
Provide RM500 million in seed funds to increase the equity of the Indian community to at least 3%
Set up a special unit to ensure successful implementation of policies for the Indian community
Increase access to microcredit for all Malaysians, including RM100 million for hawkers and petty traders

Educational Excellence
Bring Malaysia into the "top third category" of the best education systems in the world
Improve the command of Bahasa Malaysia and English among students
Make English a compulsory SPM pass subject
Improve access to quality education for rural and minority communities
Provide more merit-based scholarships
Continue special allocations to all types of schools
Expand Single Session Schooling
Revamp Teacher Training Colleges & raise the qualification bar for trainee teachers
Introduce a simplified teaching and learning system for Bahasa Malaysia in Chinese and Tamil schools
Build more schools of all types
Enhance performance in Mathematics and Science
Provide financial incentives of RM100,000 for schools with classes for Special Needs children
Convert SJKTs that wish to change status into fully aided schools
Set up ICT labs in all schools that require them
Transform vocational schools into colleges and increase enrolment to 20% of student population
Expand pre-school education to cover all types of schools
Provide new career pathways for fast tracking promotion of 420,000 teachers
Provide free WiFi on all public institution campuses
Introduce a laptop ownership scheme in schools

Security & Public Safety
Add four thousand police personnel per year
Strengthen the Motorcycle Patrol Unit by 5000 vehicles
Enhance the total capability of the Armed Forces
Strengthen the Police Commission
Use the 6P system to curb the influx of illegal foreigners
Create the SafeCam Programme to link up private and public CCTV systems
Expansion of CCTV monitoring for high traffic public areas
Introduce security initiatives in public housing schemes
Enrol an additional 50,000 Police Volunteer Reserves

Women's Participation
Increase the number of women in national decision-making
Promote gender equality
Provide more business and income opportunities for women
Create for incentives for work-from-home initiatives
Open 1Malaysia Daycare centres in all GLCs and Government Offices
Tighten laws regarding sexual abuse and harassment in homes and at work

Youth
Provide funding, training and incentives for youth-centric commercial ventures
Provide commercial space for youths to exhibit & market creative products and services
Establish incubators to nurture leadership and creativity
Provide more free WiFi hotspots in rural and semi-urban areas
Produce more high performance athletes & promoting a healthy lifestyle
Revisit laws pertaining to entertainment to promote performing arts & culture

Social Safety Nets
Streamline and improve safety net assistance
Provide financial assistance & educational opportunities for lower income earners
Turn Brickfields into a blind-friendly zone
Set up special courts to deal with Native Customary Rights (NCR) issues
Gazette all native customary land in consultation with State Governments
Provide more income generating opportunities within indigenous communities
Provide funds for registered NGOs and Civil Society Movements

Upholding Islam, Respecting Religious Freedom & Harmony
Uphold Islam as the religion of the Federation
Promote the Syiar & Syariat of Islam in accordance with the principles of Maqasia Syariah
Ensure other religions can be practised in peace and harmony
Assign jurisdiction over non-Muslim matters to a Minister
Practise moderation in all undertakings
Increase initiatives in uniting the ummah
Unlock income from developing wakaf land in co-operation with State Religious Authorities
Increase tax exemptions for contributions to construction, expansion and upkeep of places of worship
Continue to allocate land for building places of worship
Provide more financial assistance to religious institutions & places of worship
Improve the welfare of Imam, mosque officials & Guru-Guru Kafa
Upgrade the quality of and provide financial assistance to Sekolah Agama Rakyat

Fighting Corruption
Publicly disclose contracts to enhance transparency in Government procurement
Establish a Service Commission in MACC
Elevate the Head & Senior Officers of the MACC to a higher level
Give equal emphasis on investigations into bribe givers and receivers
Fast track access to the Auditor-General's Performance Audit Report
Establish additional special corruption Sessions and High Courts
Implement integrity pacts for MPs and State Assemblymen

Public Service & Governance
Introduce the Transformative Salary Scheme for civil servants
Include more opportunities for promotion and development in the civil service
Extend the tenure of contract officers and appointing them who are competent
Expand Urban Transformation Centres to all major cities and towns
Mobilize and empower the civil service
Improve counter services through appointment of multi-racial frontliners and expanding on-line services
Introduce recruitment programmes to ensure a fair mix of all races in civil service
Enhance the potential, capacity & capability of all civil servants
Give special attention to the disabled

A Global Movement of Moderates
Fight for the establishment of a Palestinian state
Support the realisation of ASEAN as an economic community by 2015
Vie for a non-permanent seat on the UN Security Council
Enhance economic & bilateral interests with major trading partners
Take the lead in fighting trans-national crimes
Spearhead humanitarian outreach programmes in conflict areas

Preserving Nature
Give financial incentives to ventures which invest in renewable green energy
Allocate more space for green lungs within major cities
Increase allocations and enact stricter laws to preserve rivers, forests and strategic conservation areas
Undertake reforestation programmes
Increase educational programmes to inculcate appreciation of the environment
Employ green and state of the art technologies in waste disposal & management

PR manifesto
The national PR manifesto has outlined the actions they will take if they form the next Malaysian government.

The Fraternity of the People
Eliminate discrimination
Respect the position of Islam as the official religion, while guaranteeing the freedom of other religions
Elevate culture as the positive foundation of community living
Raise from 5% to 20% the royalty payments for oil- and gas-producing states
Set up a contribution fund for married women, with the government contributing RM50 per month and their husbands contributing RM10 – RM100 per month
Provide a bonus of RM1,000 annually to each senior citizen aged 60 and above
Allocate RM220 million annually to 1,854 Sekolah Janaan Rakyat
Recognize the Unified Examination Certificate (UEC) for admission to tertiary education and as academic qualification for jobs
Restore the autonomy of Sabah and Sarawak in accordance with the provision of the Federal Constitution
Ensure equitable power-sharing between Sabah, Sarawak and Peninsular Malaysia
Cleanup of the citizenship registry list and curb the granting of false citizenships
Set up a Land Commission to investigate, resolve disputes, rejuvenate, study and restore Native Customary Rights to their rightful owners
Affirm the appointment of Sabahans and Sarawakians to hold offices in the Government
Raise the level of infrastructure development in Sabah and Sarawak
Reserve 141,000 ha of Orang Asli land to be returned to them
Supply clean water and electricity to 852 Orang Asli settlements
Award a total of 5,000 educational scholarships to Orang Asli children
The following actions have been pledged to be implemented immediately, in accordance with the Kuching Declaration:
Eliminate the cabotage system that increases the price of household goods in Sabah and Sarawak
Create investment incentives conditional upon the creation of job opportunities in Sabah and Sarawak
Establishing two tier-2 oil companies owned by the Governments of Sabah and Sarawak that will join the country's oil and gas industry
Initiate the construction of highways across Sabah and Sarawak which will connect Kuching to Kota Kinabalu and Kudat
Halt the construction of dams that destroy the environment and displace the local population from their homes

The People's Economy
Provide one million job opportunities for the people within five years via progressive reduction of foreign workers
Introduce a minimum wage scheme of RM1,100 per month
Allocate RM2 billion for automation incentives and grants to eligible companies to facilitate implementation of minimum wage scheme
Train one million school leavers without higher education under the People's Pioneer Scheme
Set up five technical universities within ten years
Build twenty-five new vocational schools throughout the country
Set up a Royal Commission to study the overall improvement of the education system
Abolish all laws which are biased and oppressive to the working class
Provide funding to cultivate a smart partnership of trade unions, employees and employers
Set up a National Innovation Fund totalling RM500 million
Reshuffle tax incentives to shift the focus of assistance from large industries to SMIs
Revamp the 26% personal income tax bracket to affect individuals earning more than RM400,000 instead of the current RM250,000
Halt operations of the Lynas rare earth plant in Gebeng, Pahang
Review the implementation phases of the RAPID project in Pengerang
Reform all existing legislation related to logging, and regulate logging activities
Allocate RM500 million to assist participation of ex-soldiers in economic activities
Increase the government contribution to the Armed Forces Fund Board (AFFB) from 15% to 20%
Introduce a Soldiers’ Dividend which will remunerate non-pensionable veterans to the amount of RM2,000 per year
Introduce individual taxi permits
Train taxi entrepreneurs in customer service and business skills
Provide fuel subsidies to taxi entrepreneurs
Expand the scope of permitted investments and grants under the existing Petroleum Fund
Provide tax relief for goods or services derived from R&D in universities or public research centres
Provide tax relief in the form of investment incentives and tax relief for research centres and researchers brought in
Provide investment incentives for successfully commercialised Malaysian R&D products
Make public transport free for differently-abled people
Remodel the planning of the Klang Valley public transportation system to an integrated plan involving MRT and buses to improve the existing network and access
Examine each contract awarded in the MRT package in light of updated legislation
Invest an additional RM2 billion in the first year to double the number of buses and bus routes in the Klang Valley
Initiate steps towards building the first inter-city high speed rail system in Southeast Asia
Establish an Anti-Monopoly Commission and amend existing laws relating to competition
Establish a Public Contracts Commission
Dissolve 1MDB so that Khazanah remains the only state investment body
Disposal and handover of government holdings in government-linked companies (GLCs) which are not involved in businesses of national importance
Restructure the role of Ekuinas so that the agency assists in the takeover of GLCs by the management and qualified entrepreneurs
Ensure overall implementation of procurement by open tender in the management of public entities

The People's Well-Being
Distribute gains from the extra oil revenue profit by lowering petrol and diesel prices.
Channel RM25 billion from gas company subsidies directly to the people via reduced electricity tariffs
Discontinue private water management concessions that have resulted in high water tariffs
Take over management of highways with the intention of gradually abolishing tolls
Lower the car excise tax in stages with the intention of abolishing it in 5 years’ time
Liberalise the national automotive industry
Build 150,000 low- and medium- cost homes within the first term of administration
Invest RM 5 billion in the first year for affordable housing, followed by RM 2 billion for the following years
Provide free higher education in all public institutions, and subsidise fees for students in private institutions
Provide a living cost allowance for students who are not financially well-off
Stop implementation of Automatic Enforcement System (AES) for road users and rescind all AES summonses
Review all compensation claims as a result of the GER manipulation and pay appropriate compensation to affected FELDA settlers.
Increase police personnel's remuneration by 15% in stages
Increase personnel strength of the Crime Investigation Department (CID)
Allocate an additional of RM 50 million a year to build police posts in places of high public concentration
Allocate a further RM 200 million a year to increase the police's capabilities and effectiveness in forensic investigation.
Reject all attempts to introduce a healthcare tax
Ensure free healthcare for all Malaysians through government hospitals while incentivising the private sector to provide healthcare services at a reasonable rate
Abolish fees for Class 2 and Class 3 wards.
Abolish monopolies on pharmaceutical supplies, hospital construction, and medical infrastructure
Improve specialist treatments to the low-income group for complicated surgeries
Fulfill the target of one doctor to 550 citizens in the first term of administration
Increase welfare assistance from RM300 a month to RM500 a month
Establish a National Commodity Fund to assist families affected by sudden drops in commodity prices

The People's Government
Add value to wakaf land that will generate economic welfare for the people
Target to double the current Tabung Haji fund amount within ten years of Pakatan Rakyat administration
Ensure that the right to religious freedom and religious practice for other religions will be upheld
Deploy a new remuneration package for civil servants that will factor excellent work performance, length of service and leadership qualities
Implement the 8 demands of BERSIH as electoral reform
Implement automatic voter registration upon reaching eligible voting age
Clean-up electoral roll within 100 days of coming to power
Reform the judiciary, Attorney General's Chambers, Malaysian Anti-Corruption Commission (MACC) and Royal Malaysian Police Force (PDRM)
Restore the powers and freedom of Parliament as the voice of the people
Introduce the parliamentary select committee system in crucial ministries
Abolish all legislation that restricts media freedom
Corporatise government-owned broadcasting institutions such as Radio Televisyen Malaysia (RTM)
Respect the maturity of media practitioners in operating the media industry
Abolish the Universities and Universities Colleges Act (UUCA) within 100 days of Pakatan Rakyat administration
Selection of vice-chancellor and rectors in public higher education institutions will be made by an independent evaluating committee
Perform a thorough review of all legislations that are in conflict with principles of justice for and freedom of the people and abolish them within the first year
Enforce a Democracy Restoration Act to further strengthen the basic rights of the people
Release and apologise to all Internal Security Act (ISA) detainees from the past to the present
Restructure MACC's power and leadership to rebuild its integrity
Restructure the practices and processes of MACC to focus on investigation and prosecution towards big corruption cases that involve the public interest
Tighten corruption-related legislation (including the Whistleblower Protection Act) to firmly implement anti-corruption laws

[davidwsk]

LOL

Originally Posted by nazrey

BN manifesto

The national BN manifesto pledges the following commitments to be realised within the next 5 years if and when they secure a mandate to form the next Malaysian government:



Economy
Attract RM1.3 trillion of investments
Create 3.3 million new jobs, two million of which will be in high-income sectors
Build towards a per capita income of US$15,000 by year 2020
Provide special incentives for innovative and creative ventures
Implement policies that are fair and equitable to all races in Malaysia
Enhance the effectiveness of the Bumiputra agenda
Allocate more land and increase productivity of land for food and livestock production
Reform the tax structure to reduce personal and corporate tax
Continue special funding exceeding 20% of oil and gas revenue to oil and gas producing states
Establish a National Trading Company to source overseas markets for SME products
Create & promote more global and regional champions
Divesting non-strategic GLCs and increasing outsourcing programmes for Bumiputra companies
Provide RM500 million in seed funds to increase the equity of the Indian community to at least 3%
Set up a special unit to ensure successful implementation of policies for the Indian community
Increase access to microcredit for all Malaysians, including RM100 million for hawkers and petty traders

Educational Excellence
Bring Malaysia into the "top third category" of the best education systems in the world
Improve the command of Bahasa Malaysia and English among students
Make English a compulsory SPM pass subject
Improve access to quality education for rural and minority communities
Provide more merit-based scholarships
Continue special allocations to all types of schools
Expand Single Session Schooling
Revamp Teacher Training Colleges & raise the qualification bar for trainee teachers
Introduce a simplified teaching and learning system for Bahasa Malaysia in Chinese and Tamil schools
Build more schools of all types
Enhance performance in Mathematics and Science
Provide financial incentives of RM100,000 for schools with classes for Special Needs children
Convert SJKTs that wish to change status into fully aided schools
Set up ICT labs in all schools that require them
Transform vocational schools into colleges and increase enrolment to 20% of student population
Expand pre-school education to cover all types of schools
Provide new career pathways for fast tracking promotion of 420,000 teachers
Provide free WiFi on all public institution campuses
Introduce a laptop ownership scheme in schools

Security & Public Safety
Add four thousand police personnel per year
Strengthen the Motorcycle Patrol Unit by 5000 vehicles
Enhance the total capability of the Armed Forces
Strengthen the Police Commission
Use the 6P system to curb the influx of illegal foreigners
Create the SafeCam Programme to link up private and public CCTV systems
Expansion of CCTV monitoring for high traffic public areas
Introduce security initiatives in public housing schemes
Enrol an additional 50,000 Police Volunteer Reserves

Women's Participation
Increase the number of women in national decision-making
Promote gender equality
Provide more business and income opportunities for women
Create for incentives for work-from-home initiatives
Open 1Malaysia Daycare centres in all GLCs and Government Offices
Tighten laws regarding sexual abuse and harassment in homes and at work

Youth
Provide funding, training and incentives for youth-centric commercial ventures
Provide commercial space for youths to exhibit & market creative products and services
Establish incubators to nurture leadership and creativity
Provide more free WiFi hotspots in rural and semi-urban areas
Produce more high performance athletes & promoting a healthy lifestyle
Revisit laws pertaining to entertainment to promote performing arts & culture






Fighting Corruption
Publicly disclose contracts to enhance transparency in Government procurement
Establish a Service Commission in MACC
Elevate the Head & Senior Officers of the MACC to a higher level
Give equal emphasis on investigations into bribe givers and receivers
Fast track access to the Auditor-General's Performance Audit Report
Establish additional special corruption Sessions and High Courts
Implement integrity pacts for MPs and State Assemblymen



Public Service & Governance
Introduce the Transformative Salary Scheme for civil servants
Include more opportunities for promotion and development in the civil service
Extend the tenure of contract officers and appointing them who are competent
Expand Urban Transformation Centres to all major cities and towns
Mobilize and empower the civil service
Improve counter services through appointment of multi-racial frontliners and expanding on-line services
Introduce recruitment programmes to ensure a fair mix of all races in civil service
Enhance the potential, capacity & capability of all civil servants
Give special attention to the disabled

[nazrey]

Pengerang project update
The RM5 billion Pengerang Independent Deepwater Petroleum Terminal
http://www.dialogasia.com/PengerangP...ateNov2012.htm



Overall View of Phase 1 and Phase 2 reclamation area



Overall view of Project site



Overall view of construction activities at Site



View showing Trestle and Jetty works with tanks and foundations in the foreground



Tanks Erection



Crossheads construction at approach trestle



Concreting works at berths and platforms in the Jetty area

[World 2 World]

Malaysia's economy grew 4.1% in Q1

KUALA LUMPUR: Malaysia's economy grew at 4.1% in the first quarter ended March 31, 2013, as manufacturing recorded slower growth due to the weak external conditions, but domestic demand will continue to underpin further growth.

Bank Negara Malaysia said on Wednesday amid this weaker external environment, the Malaysian economy expanded at a slower pace compared with the 6.5% in the fourth quarter ended Dec 31, 2012 and the 5.1% a year ago in Q1, 2012.

The central bank said the agriculture sector grew 6% in Q1, 2013, construction 14.7%, services 5.9%, manufacturing 0.3% and mining shrank 1.9%.

Despite the weaker activity, the economy was supported by stronger domestic demand that expanded by 8.2% during the quarter (4Q 2012: 7.8%).
source: http://biz.thestar.com.my/news/story...8&sec=business

[nazrey]

Economists: 5pc-6pc Malaysia GDP growth still achievable
By Rupa DamodaranPublished: 2013/05/17
http://www.btimes.com.my/Current_New...#ixzz2TjITVerE



LOCAL SUPPORT: GDP expansion pace will improve in second half due to stronger domestic demand, say economists

Malaysia will be able to achieve its growth target of five to six per cent this year although the local economy looks to be slowing in the second quarter, dragged by continued weak exports, economists say.

The slower gross domestic product (GDP) growth of 4.1 per cent in the first quarter is not a concern for policymakers, they said.

Most economists polled by Business Times have maintained their 2013 growth forecasts.

They expect the second half of the year to improve based on the Leading Index indicator, which has pointed to a stronger increase in domestic demand.

The GDP growth slowed in the first three months of this year as exports contracted by 0.6 per cent following a 1.6 per cent fall in the fourth quarter of 2012, although imports rebounded to
3.6 per cent from a 0.6 per cent decrease in the fourth quarter of 2012.

The first-quarter headline growth came in below market expectations, but Affin Investment Bank economist Alan Tan anticipates the growth pace to improve from the second quarter despite the slower recovery in global economic activities.

Domestic demand, in particular consumer spending, will remain strong, supported by favourable employment conditions and income
growth, he said.

Tan expects the GDP to grow at a slightly stronger pace of around five per cent year-onyear in the second quarter before recovering to around 5.5 per cent in the second half.

MIDF Research economist Anthony Dass expects growth to remain weak in the second quarter, hovering between 4.5 and 5.0 per
cent, dragged by exports amid strong domestic demand.

The economy should improve in the second half of the year as exports increases slightly, benefiting from slight gains in semiconductors and stable commodity prices, he said.

Standard Chartered Bank expects better growth prospects in Asia to boost export growth in the second half.

“We expect China’s economy to improve in the second half on gradually improving consumer confidence, infrastructure spending and a recovering housing market.

“Japan’s domestic spending is likely to be supported by ‘Abenomics’ — Prime Minister Shinzo Abe’s aggressive blend of monetary and fiscal easing,” it said.

These two large economies, it said, made up 24.4 per cent of Malaysia’s exports in 2012 and this will support export demand in the second half of this year.

Shipments to Asia have been the most significant driver of Malaysia’s export growth over the past five to six years, while the contraction was caused by declining exports to the United States, European Union, China, Japan and India.

According to Affin's Tan, Malaysia's Leading Index, a reliable indicator designed by the Department of Statistics to measure the direction of economic activity, rose from one per cent month-on-month in February to 2.8 per cent in March for the fourth consecutive month. This indicates a stronger magnitude of increases in domestic demand in the second half.

AmResearch Sdn Bhd economist Patricia Oh said Malaysia ranked among the top performers in terms of GDP growth in the first quarter, alongside China (7.7 per cent), Indonesia (6.02 per cent) and Vietnam (4.9 per cent).

Kenanga Investment Bank expects the economy to pick up from the second quarter as projects under the Economic Transformation Programme resume in "full swing", with no general election uncertainties holding back investors.

"In addition to domestic expansion heading towards maximum capacity, we also foresee a rebound on the external front, especially in the US and Japan," it said, adding that growth can be mitigated by the possible roll-out of the Goods and Services Tax.

RHB Research said a robust domestic demand suggests that there is no urgency for Bank Negara Malaysia to cut interest rates to support growth.

[patchay]

Malaysia approves 1,224 investment projects in Q1 2013



...upbeat about the investment momentum for this year, saying Malaysia was on track to beat last year’s record of RM162.4 billion in investments.

Total FDI approved increased by 90.6% to RM18.3 billion during the Q1 period compared with RM9.6 billion previously.

As mentioned previously, more than 470 global multinational companies present in Malaysia are expected to re-invest in high value sectors in Malaysia in the upcoming months. Amongst them are Novartis, Cargill, McDermott, Huawei and ExxonMobil. There is also possibility of large investments from ArcelorMittal and Siemens AG.



(Back in Feb 2013)

Intel opens new facility in Penang, largest outside US to use new office design
Digital News Asia | Feb 20, 2013
http://www.digitalnewsasia.com/enter...-office-design

INTEL Malaysia has officially opened the doors to its PG7 building, Intel’s largest project out of the United States that incorporates its new Corporate Office Standard, a new plan for office design.

Intel’s PG7 building was retrofitted from one of its existing properties in Penang’s Free Industrial Zone and boasts 153,000 sq ft of office space including a brand-new cafeteria, and will house more than 10% of Intel Malaysia’s over 9,000 employees.

“We have been looking forward to the launch of the PG7 building for a while now and I am glad to note that our wait has finally been rewarded with a brand new workspace where the Intel family can come together to continue the great work we’ve been doing since our establishment here in 1972,” said Robin Martin, Intel Malaysia managing director.

(snipped)



Also present to officiate at the opening ceremony was Penang Chief Minister Lim Guan Eng, who said, “I’d like to commend Intel Malaysia for playing its part in spearheading an innovation-based economy in Malaysia.

“In making Malaysia one of Intel’s largest home bases in the world for over four decades, Intel has demonstrated its commitment to the country,” he added.

Intel Malaysia’s operations are conducted out of a high-tech campus with 10 buildings on the island as well as on the mainland in Kulim, Kedah. Today, Intel Malaysia runs its operations with key competencies that support Intel’s various platform challenges, the company said.

This includes its role as one of Intel’s largest Assembly, Test and Manufacturing (ATM) facilities contributing significantly to Intel Corporation’s high volume manufacturing.

In addition, Intel Malaysia has built strong credentials in design and development with two design centers in Malaysia under the Intel Architecture Group: a Chip Design Center in Penang and a Board Design Center in Kulim.

Intel Malaysia also plays a strategic role as the regional and global center for shared services in IT, Finance and Human Resources.

[nazrey]

Malaysia's foreign reserves rise to US$141b
By Rupa DamodaranPublished: 2013/05/24
http://www.btimes.com.my/Current_New...#ixzz2UC0hAlsQ

THE level of international reserves in the central bank is likely to rise further due to the resilience of the Malaysian economy as well as the steady interest rate level, said economists.

Bank Negara Malaysia announced that as at May 15, foreign reserves had risen to US$141.1 billion (RM428.94 billion), which is sufficient to finance 9.6 months of retained imports.

Alliance Research chief economist Manokaran Mottain said the increase of US$1.1 billion (from US$140.3 billion at end of April) could be due to further inflow of foreign direct investments (FDIs) and portfolio investment into the economy, as well as surpluses from trade activities.

"Total market capitalisation of Bursa Malaysia rose higher to RM1.57 trillion on May 15 (from RM1.47 trillion on April 30), indicating net inflow into the system," he remarked.

On the portfolio front, foreign institutional investors were also the larger net buyers of Malaysian equities (RM5.4 billion in April versus RM4.8 billion in March).

Although the three-month moving average of trade surplus had moderated to RM5.5 billion on the faster growth of imports, it still suggests a net inflow into the system.

Alliance Research expects the total reserves to hit US$145 billion by year-end.

The ringgit strengthened to RM3.0085 versus the US dollar on May 15 in line with the strengthening trend following the general election, when the it reached RM2.9635, the strongest level since August 2008.

With the increase in fund flows, the banking systems continue to be flush with liquidity.

"We expect the reserves to rally further on global liquidity flows into the system, in view of the resilient economic outlook and steady interest rate expectations."

AmResearch economist Patricia Oh said the accumulation of forex reserves clearly indica-tes that inflow of funds remain sizeable owing to relatively firmer economic fundamentals.

In comparison to regional economies, China tops the list with total reserves of US$3.44 trillion to date, followed by Japan with reserves totalling US$1.19 trillion.

In the first quarter, the trade surplus had amounted to RM16.55 billion (from RM29.78 billion in the first quarter of last year).

[nazrey]

260,000 jobs by year-end
By KOI KYE LEE | 26 May 2013| last updated at 01:15AM
http://www.nst.com.my/top-news/260-0...411%2F7.412278

IMPROVING WORK SKILLS: Malaysians encouraged to use Jobs Malaysia portal

PUTRAJAYA: THE Human Resources Ministry is creating260,000 jobs this year, not including those in the civil service.

Deputy minister Datuk Ismail Abdul Muttalib said 35 per cent would be high-skilled jobs, 20 per cent low-skilled and the rest for those with medium skills.
He said Malaysians could apply for the vacancies through the ministry’s Jobs Malaysia portal.

“Jobs are aplenty but it depends on what skills a person has. We are targeting to have 33 per cent high-skilled workers by the end of 2015. This will be increased to more than 50 per cent by 2020.”

Ismail was speaking after launching the Jobsquare and Government to Youth (G2Y) segment of the Putrajaya Youth Festival.

He encouraged the youth to grab the opportunities provided by the government, including at this festival, to upgrade their skills.

“Youth must continuously improve themselves as they are the country’s assets and human capital.”

Ismail said Jobsquare could also provide job-seekers with information on workshops to improve their soft skills and proper work etiquette.

There are 17 Jobs Malaysia centres nationwide to help job-seekers secure full-time and part-time employment as well as training in various fields. Some of these centres are in Port Klang and Kelana Jaya in Selangor, Johor Baru and Segamat in Johor, Kota Baru and Ipoh.

The jobs available are for middle and top management positions, professionals, technicians, factory operators and general workers.

The government created 360,000 jobs last year and 300,000 jobs the year before.

Ismail also said 331 companies had written in to seek a six-month extension for the deadline to implement the new retirement age. The government has gazetted the retirement age for companies to be 60, instead of 55, effective July 1.

Only those with strong justifications will be given exemptions.

[nazrey]

RM130b tax collection on track
By Francis Dass Published: 2013/05/31
http://www.btimes.com.my/Current_New...#ixzz2Urdoq4Qs



GAINING POPULARITY: Record 2.3m Malaysians filed returns via e-filing this year

The Inland Revenue Board (IRB) is well on track to collect RM130 billion in taxes this year, said its chief executiveb officer Tan Sri Dr Mohd Shukor Mahfar.

Last year, IRB collected RM124.99 billion in taxes, up from RM109.61 billion in 2011 and RM86.49 billion in 2010.

“Looking at the data we have now, we are well on our way to reaching this year’s target of RM130 billion as we ride on the back of Malaysia’s growth and political stability,” said Shukor.

He said a record 2.3 million Malaysians filed their tax documents via e-filing this year, 15 per cent higher than last year.

Shukor noted that e-mobile filing is also becoming popular among the country’s Gen-Y as it covers those who entered the workforce after mid-2000.

“In 2012, fewer than 1,000 people used e-mobile filing. This year, we registered just under 4,000 e-mobile filings and this is set to rise in coming years.

“IRB embraces ICT (information and communications technology) and it is part of our greener and paperless online filing system,” he told a news conference during the IRB Marine Corporate Social Responsibility (CSR) programme in Pulau Perhentian here.

Under the CSR programme, IRB deployed 37 octagonal steel structures on the seabed in Teluk Pauh to act as artificial coral reef structures to encourage the growth of corals.

At the event, Malaysia Book of Records certified the IRB as “the first statutory body to conduct CSR programme through biodiversity marine restoration”.

Shukor said the RM170,000 cost for the steel structure dwarfs the potential long-term environmental and monetary benefits that will result from the project.

[nazrey]

Malaysia remains in top 15 competitive nations
By Rupa Damodaran Published: 2013/05/30
http://www.btimes.com.my/Current_New...#ixzz2Urjs9rzv

MALAYSIA remains in the top 15 most competitive nations in the latest global ranking.

It slipped one notch to 15, according to the IMD World Competitiveness Centre under the top-ranked global business school IMD in Lausanne, Switzerland.

In the data released early today, Malaysia remains in the top league that also includes three other Asian economies - Hong Kong, Singapore and Taiwan - from out of 60 economies.

The United States regained its top spot this year due to its strengthening financial sector, technological innovation and host of successful companies.

China and Japan are 21st and 24th respectively, with the latter's economy given a shot in the arm through the policies of its Prime Minister Shinzo Abe.

Professor Stephane Garelli, director of the IMD World Competitiveness Centre, said while the eurozone remains stalled, the robust comeback of the US to the top of the competitiveness ranking, and better news from Japan, have revived the austerity debate.

"Structural reforms are unavoidable but growth remains a prerequisite for competitiveness. In addition, the harshness of austerity measures too often antagonises the population.

"In the end, countries need to preserve social cohesion to deliver prosperity," he said in a statement.

In Asia, China's success has had a pull effect on the region's competitiveness, prompting many Asian economies to redirect their exports from the US and Europe to other emerging markets.

Emerging economies in general remain highly dependent on the global economic recovery, which seems to be delayed.

"Europe's competitiveness is declining but Switzerland, Sweden, Germany and Norway are shining successes. Latin America is disappointing but there are great global companies in that region.

"Brazil, Russia, India, China and South Africa are immensely different in their competitiveness strategies and performances but BRICS remain lands of opportunities," Garelli said.

"In the end, the golden rules of competitiveness are simple: manufacture, diversify, export, invest in infrastructure, educate, support SMEs, enforce fiscal discipline and, above all, maintain social cohesion."

IMD, which marks its 25th anniversary this year, had previously recognised China, Germany, Israel, South Korea, Mexico, Poland, Sweden, Switzerland and Taiwan as winners.

Europe has lost ground and accounts for more than half of the "losers" since 1997 and these include the United Kingdom and France.

The fate of Ireland and Iceland, it added, shows that competitiveness needs to be sustainable, and that uncontrolled fast expansion can also lead to disaster.

[nazrey]

GLCs continue strong push
By Roziana Hamsawi Published: 2013/06/17
http://www.btimes.com.my/Current_New...#ixzz2WRtau4s9



PHENOMENAL GROWTH: Market capitalisation of 17 government-linked companies at all-time high of RM405b as at May

Government-linked companies (GLCs) continue to make strong progress towards the end of the eighth year of a 10-year GLC Transformation (GLCT) programme.

In the GLCT Progress Review 2013 report released last Friday, the GLCs are reported to have made further inroads into regional markets and contributed significantly to the local economy.

Since the programme’s inception on July 29 2005, the 17 GLCs’ market capitalisation have grown to an all-time high of RM405 billion as at May 31 2013.

Their combined net profit also reached a record RM25.8 billion in financial year 2012, up by RM5.2 billion, or 25 per cent, from the year before.

The GLCs’ economic profit also rose to RM5.3 billion last year, a sevenfold rise from financial year 2011.

The report said since the start of the programme, the GLCs’ total shareholder return grew 15 per cent per year from May 14 2004 to May 31 2013, outperforming the FTSE Bursa Malaysia KLCI by one per cent per year.

During the same period, their market capitalisation nearly trebled from RM140 billion while net profit grew at a compounded annual growth rate of 12 per cent.

The 17 GLCs are Axiata Group Bhd, BIMB Holdings Bhd, CIMB Group Bhd, Chemical Company of Malaysia Bhd, Malaysia Airports Holdings Bhd, Malayan Banking Bhd, Malaysia Building Society Bhd, Malaysian Resources Corp Bhd, TH Plantations Bhd, Sime Darby Bhd, Tenaga Nasional Bhd, UMW Holdings Bhd, Affin Holdings Bhd, Malaysia Airline System Bhd, Telekom Malaysia Bhd, UEM Group Bhd and Boustead Holdings Bhd.

When the programme was first launched, there were 20 companies but the list has been reduced to 17 due to mergers, demergers and
other corporate exercises.

The report also noted that as a result of a series of operational and financial restructuring initiatives, GLCs today are more resilient and fundamentally stronger.

Non-bank GLCs' operating cash flow grew from RM14.9 billion in 2004 to RM22.3 billion last year and their combined debt-to-equity ratio has improved from 51 per cent to 36 per cent during the same period.

Bank GLCs' net non-performing loans ratio has also improved from a range of 6.0 to 18 per cent in 2004 to less than three per cent last year.

GLCs have also advanced further in their regional expansion aspirations, the report said.

Foreign sales contribution to total sales grew from 28 per cent to 33 per cent in the last eight years while foreign assets contribution to total assets grew from 12 per cent to 25 per cent.

Last year, the GLCs also created a total of 12,518 jobs.

[nazrey]

Mercedes-Benz to invest RM100m more in Pekan plant
By Zuraimi Abdullah Published: 2013/06/17
http://www.btimes.com.my/Current_New...#ixzz2WRuAnVL6



KUALA LUMPUR: Mercedes-Benz Malaysia Sdn Bhd, which is celebrating its 10th anniversary this year, will invest another RM100 million to chart its production growth over the next five years.

The company spent some RM250 million over the last decade on its assembly plant in Pekan, Pahang.

The new investment is mainly to accomodate more Mercedes-Benz vehicles that will be produced at the plant, said its senior executives.

"New models are being lined up in the next one-and-a-half years alone," said its vice-president of production plant Sebastian Streuff at the plant last Friday.

Located 300km from Kuala Lumpur and 40km from Kuantan, the plant assembles the coveted S-Class, E-Class and C-Class passenger vehicles.

It also assembles Mercedes-Benz and Mitsubishi FUSO commercial vehicles.

Streuff said since establishing itself in Pekan in 2005, Mercedes-Benz Malaysia has steadily increased its output to meet market demand.

In its first full-year production, the plant produced 2,188 passenger vehicles before achieving its highest output of 5,168 passenger vehicles and 2,779 commercial vehicles last year.

As of April 2013, the plant had produced 29,084 passenger vehicles and 15,174 commercial vehicles.

"Over the decade, we have produced and sold more than 40,000 vehicles," Streuff noted.

"Over the years, Malaysia and in particular the Automotive Park in Pekan, has proven to be an ideal location for the plant," Mercedes-Benz Malaysia president Roland Folger said in a statement.

"With infrastructure and availability of a suitable partner in Pekan, we have successfully established the plant to be our assembly hub for the Malaysian market," Folger added.

The Pekan plant is one of six Mercedes-Benz assembly plants globally and one of four such facilities in Southeast Asia.

The job to produce the marque's products there, however, is contracted out to DRB-HICOM Bhd, which operates the automotive park.

The plant employs 1,100 people (workers of DRB-HICOM), while another 70 are employees of Mercedes-Benz Malaysia.

It has three production lines for passenger vehicles and another line for commercial vehicles, on a total 339,000 sq m.

The plant accounts for about one third of DRB-HICOM's automotive park, which spans a total of 895,000 sq m.

Streuff stressed that the plant remains focused on providing quality vehicles.

"Each vehicle is put through a four-stage control system executed at various points of the assembly line.

"To implement the control systems, our employees are well-qualified and constantly updated on the latest methods of quality control.

"This is to ensure that each vehicle delivered meets stringent requirements set by our headquarters Daimler AG," he explained.

[sammyboy168]

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