Monthly Archives: May 2009

Oil Drum Stuffed With MoneyHarga minyak mentah melonjak di dagangan Asia, ke paras tertinggi untuk tempoh enam bulan ekoran kejatuhan besar simpanan minyak mentah Amerika Syarikat (AS).

Kontrak utama New York, minyak mentah berkualiti tinggi Light Sweet untuk penghantaran Julai kepada AS$65.93 (RM228.86) setong.

Minyak mentah Brent North Sea bagi penghantaran Julai pula meningkat AS$0.23 (RM0.80) kepada AS$64.62 (RM226.17).

Semasa dagangan AS semalam, minyak mentah New York melonjak sehingga paras AS$65.35 (RM228.72) sebelum ditutup pada paras AS$65.08 (RM227.78), paras penutup tertinggi sejak 4 November tahun lalu.

Minyak mentah melonjak dalam beberapa hari lalu ekoran keyakinan terhadap permintaan tenaga akan meningkat dengan harapan ekonomi AS kembali pulih.

”Pasaran minyak mentah berada dalam keyakinan bahawa kemelesetan terburuk telah berlalu,” kata Mike Fitzpatrik dari MF Global.

Keputusan Pertubuhan Negara-negara Pengeluar Petroleum (OPEC), akan mengekalkan pengeluaran pada paras 24.84 juta tong sehari, walaupun lebihan minyak mentah menunjukkan keyakinan pertubuhan terhadap permintaan minyak yang akan meningkat, kata penganalisis.

”Terdapat kepercayaan di dalam pertubuhan, bahawa kemelesetan ekonomi telah berlalu, dan pemulihan telah bermula,” kata David Kirsch dari PFC Energy. – AFP

-Utusan Malaysia-

 

Gekko: Kalau la minyak terpaksa dinaikkan lagi sudah pasti semuanya naik. Tiba masanya kerajaan kita bertindak sebelum ia meningkat naik lagi.

bukit-kepongKabinet mengarahkan pihak-pihak berwajib menulis semula sejarah kedurjanaan komunis dengan memperincikan pembunuhan dan jenayah yang dilakukan agar generasi sekarang memahami mengapa Parti Komunis Malaya (PKM) serta pemimpinnya tidak harus diagungkan.

Menteri Penerangan, Komunikasi dan Kebudayaan, Datuk Seri Dr. Rais Yatim memberitahu, Kabinet mahu perkara ini dilaksanakan bagi membolehkan generasi sekarang jelas serta memahami bahawa komunis merupakan musuh negara.

”Punca menyebabkan komunis dan pemimpin-pemimpinnya diagungkan oleh generasi muda sekarang kerana kekejaman mereka tidak diceritakan dengan jelas serta terperinci.

”Buku sejarah yang tertulis sejarah komunis pula hanya mencatatkan PKM diharamkan pada 1948, membunuh Pesuruhjaya Tinggi British ke Tanah Melayu, Sir Henry Gurney.

”Tetapi tidak dijelaskan bahawa kumpulan itu melakukan pembunuhan bukan sahaja sebab politik tetapi juga terhadap rakyat yang tidak berdosa,” katanya.

Beliau berkata demikian ketika ditemui selepas merasmikan Mesyuarat Agung Kedua Persatuan Penerbit Televisyen Malaysia (PVTM) yang turut dihadiri timbalannya, Datuk Joseph Salang Gandum di Angkasapuri di sini hari ini.

Semalam Perdana Menteri, Datuk Seri Najib Tun Razak menegaskan pemimpin PKM, Chin Peng tidak dibenarkan kembali ke negara ini dengan menyatakan kepulangannya jika dibenarkan hanya akan menimbulkan rasa tidak puas hati terutama kepada ahli-ahli keluarga mereka yang terkorban semasa era Darurat antara tahun 1948 hingga 1960.

Rais memberitahu, penulisan semula secara terperinci sejarah kekejaman komunis ini akan membolehkan generasi muda terutama di sekolah dan universiti dapat diberi pemahaman bahawa komunis adalah musuh negara.

Katanya, walaupun generasi muda mempunyai idealisme tinggi dalam hal-hal tertentu tetapi dalam soal kenegaraan terutama mengenai komunis ini tidak ada kompromi.

Sehubungan itu, katanya, kementerian akan memulakan tayangan filem dokumentari mengenai kekejaman komunis.

”Muzium Negara juga akan membuat pameran mengenai sejarah kekejaman komunis bagi membolehkan generasi muda menyedari mengenai pengorbanan yang dilakukan oleh generasi lepas mempertahankan negara dan rakyat dari kumpulan pelampau tersebut.

”Kementerian melalui agensi-agensi di bawahnya akan menggerakkan tenaga untuk memberi penjelasan dan penerangan dalam perkara ini agar tidak timbul lagi gerakan atau sebarang usaha untuk mengagung- agungkan komunis dan pemimpin- pemimpin mereka,” katanya.

Rais memberitahu, kementerian melalui Akta Komunikasi dan Multimedia juga telah memberi amaran kepada penulis blog yang membangkitkan nostalgia mengenai komunis.

Katanya, tindakan lebih keras termasuk mendakwa di mahkamah akan dilakukan sekiranya terus membangkitkan nostalgia tersebut dengan memperdayakan masyarakat memberi gambaran palsu mengenai komunis.

 

Gekko: Nak cari cerita Bukit Kepong, baru ingat balik perjuangan POLIS membenters KOMUNIS.

BUKIT KEPONG

Cerita perjuangan pasukan polis dan masyarakat tempatan di Bukit Kepong, Johor melawan komunis pada tahun 1950. Kemuncak pertempuran berlaku pada 23 Februari di balai polis Bukit Kepong yang mempunyai 18 orang anggota.

Filem ini menggambarkan semangat waja yang ditunjukkan oleh pasukan polis, walaupun mereka diserang oleh 180 orang pengganas komunis, tetapi mereka tetap berjuang hingga ke titisan darah yang terakhir untuk mempertahankan negara.

 

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The Malaysian economy contracted by 6.2% (4Q 08: +0.1%) in the first quarter of 2009, amidst a significant deterioration in external demand, following the deepening recession in advanced economies. The large inventory drawdown, particularly in the manufacturing and commodity sectors, also contributed to the decline in growth in the first quarter. Fixed investment registered a decline due toweaker business sentiment.  Public sector spending, however, provided some support to growth. On the supply side, all sectors recorded contraction except for the construction sector.

 

During the quarter, domestic demand registered a decline of 2.9% (4Q 08: 2.8%) as a result of more cautious spending by businesses and households following the weakening of overall business and economic conditions. Private consumption also declined marginally by 0.7% (4Q 08: 5.3%) as expenditure was affected by deteriorating labour market conditions. Consumer sentiments had, however, improved in the first quarter, with the MIER Consumer Sentiments Index increased to 78.9 points from 71.4 points in the fourth quarter of 2008.

 

Meanwhile, public consumption expanded by 2.1%, underpinned by higher spending on emoluments as well as supplies and services. During the quarter, gross fixed capital formation declined by 10.8% (4Q 08: -10.2%), due mainly to the weaker private investment activity, as business confidence deteriorated amidst the decline in external demand. Nevertheless, higher public sector capital spending, particularly on education, agriculture and rural development, reflected the Government’s commitment to mitigate the adverse impact of external developments on the domestic economy. Gross exports declined sharply by 20% following a sharp contraction in manufactured exports (-18%), as well as lower commodity exports. Performance of manufacturing exports was affected by lower demand for both electronics and electrical (E&E) and non-E&E products from major markets. In addition, commodity exports turned negative (-23.8%; 4Q 08:6.1%), reflecting the impact of lower prices and weaker demand.

 

On the sectoral side, all economic sectors experienced contraction, except for construction. The manufacturing sector declined significantly by 17.6% (4Q 08: -8.8%), led by the 23.1% contraction in the export-oriented industries. In particular, the E&E industry contracted steeply by 41.4%. The domestic-oriented industries declined by 15.9% (4Q 08: -2%) due to weakness in both consumer-and construction-related sub-sectors. The services sector was flat following a marginal decline by 0.1% (4Q 08: 5.7%), primarily affected by sub-sectors closely linked to the manufacturing sector. The agriculture sector recorded a contractionof 4.3% (4Q 08: 0.5%) due to lower output of both palm oil and rubber, while the decline in the mining sector of 5.2% (4Q 08: -5.7%) was due to falling crude oil and natural gas production. Meanwhile, the construction sector, turned around to register a positive growth of 0.6% (4Q 08: -1.6%) due mainly to an increase in construction of office space and the high-end segment of the residential sub-sector.

 

Headline inflation rate, as measured by the change in the Consumer Price Index (CPI), moderated to 3.7% in the first quarter (4Q 08: 5.9%) due mainly to lower inflation in the food and non-alcoholic beverages, and transport categories. Meanwhile, inflation in the housing, water, electricity, gas and other fuels category also moderated to 1.6% (4Q 08: 1.8%), reflecting the 2.5% reduction in electricity tariffs for households which came into effect on 1 March. Headline inflation continued to moderate to 3.0% in April. 

 

In the external sector, the trade surplus remained large at RM32.7 billion, as the contraction in imports was larger than that in exports. The larger decline in gross imports (-28.9%; 4Q 08: -12.2%) was due to lower imports of intermediate and capital goods amidst the decline in manufactured exports and the subsequent inventory adjustments as well as weaker investment activity.

 

On a cash basis, gross inflows of foreign direct investment (FDI) moderated to RM6.4 billion in the first quarter (4Q 08: RM9 billion), reflecting both lower inflows of equity capital and the drawdown of inter-company loans. After adjusting for gross outflows due mainly to repayment of inter-company loans, net FDI amounted to RM2.1 billion (4Q 08: RM3.4 billion), directed mainly into the manufacturing, services and oil and gas sectors. Overseas investment by Malaysian companies recorded a lower net outflow of RM3 billion (4Q 08: -RM8.1billion), largely for investment in the services sector. Portfolio investment registered a lower net outflow of RM9.5 billion (4Q 08: -RM24.8 billion), reflecting mainly lower net liquidation of both equities and debt securities by foreign investors.

 

The international reserves of Bank Negara Malaysia amounted to RM320.7 billion (equivalent to USD87.8 billion) as at 31 March 2009 and remained stable at RM321.5 billion (equivalent to USD88 billion) as at 15 May 2009. The reserves position is sufficient to finance 8.3 months of retained imports and is 3.8 times the short-term external debt.

Full report:  http://www.bnm.gov.my/view.php?dbIndex=0&website_id=1&id=702

Bank Negara Malaysia

27 May 2009

interestrateopr

At the Monetary Policy Committee meeting today, Bank Negara Malaysia decided to leave the Overnight Policy Rate (OPR) unchanged at 2.00 percent

The deterioration in the world economy during the first quarter was worse than expected as the global financial turmoil became more prolonged. While certain segments of the international financial markets have stabilised, and further progress has been achieved in the financial sector resolution, the spillover effects have led to a severe contraction in economic activity in the advanced economies.The full effect of these global developments is being felt by the regional economies during the first half of 2009.

The domestic economy continues to be adversely affected by the significant contraction in external demand, resulting in steep declines in exports and industrial production. This has resulted in a marked contraction in the Malaysian economy in the first quarter of 2009. These conditions have continued into the second quarter. However, a more modest pace of decline in the latest indicators of global economic activity suggest the potential for a gradual improvement in the second half of the year. This stabilisation in the external environment is also supported by the accelerated implementation of fiscal measures, the further moderation in inflation and continued access to financing, thereby increasing the prospects for a resumption of growth in the Malaysian economy.

The current assessment is that the accumulated monetary policy initiatives and measures to enhance access to financing are sufficient to provide support to domestic demand. With sizeable and sufficient liquidity in the system, continued emphasis will be given to ensure an adequate flow of credit to all segments of the economy.

 

Bank Negara Malaysia
26 May 2009

 

What is OPR?

In short, a definition for OPR (a.k.a. Overnight Rate in most countries) is regarded as “the rate that large banks use to borrow and lend from one another on the interbank market”. In Malaysia, the rate is regulated by Central Bank.

And, the movement of OPR will have direct and positive influence the movement of Base ‘.Lending Rate (BLR).

Since the OPR has been reduced, then soon the financial institutions will also reduce the BLR, and the people will enjoy a lower interest rate.

On the other hand, SRR is regarded as the minimum percentage out of the total deposit received that need to maintain by financial institutions.

For example, Bank A has collected RM 1 billion from the consumer through placing of fixed deposits, saving accounts, current account and etc, and the SRR will be at RM 20 million, as reduced from RM 35 million previously.

That’s mean, from the RM 1 billion deposited by consumers in a bank, and the bank can fully utilize the RM 980 million as loan to others, and 20 million as SRR.

Both OPR and SRR affect the “money supply” in the market. Theoretically, lower OPR and SRR, then more money will be spent in the open market.

Dua ahli minta calon Bebas Penanti tarik diri ganjaran

MALAYSIA-FOREX

Parti Keadilan Rakyat (PKR) semalam mengaku dua ahlinya menemui dan menawarkan ganjaran kepada calon Bebas, Aminah Abdullah, supaya menarik diri daripada bertanding pada pilihan raya kecil Dewan Undangan Negeri (DUN) Penanti.

 

Pengarah Pilihan Raya PKR DUN Penanti, Saifuddin Nasution, bagaimanapun berkata tawaran itu dibuat berdasarkan hubungan rapat mereka dengan Aminah dan bukan mewakili parti.

 

“Saya menemui kedua-duanya dan mereka memaklumkan Aminah menjemput mereka makan tengah hari di rumahnya. Mereka menerima jemputan itu kerana menghormati Aminah sebagai sahabat lama mereka,” katanya pada sidang media di Yayasan Aman di sini.

 

Kelmarin, Aminah menyerahkan kepada Suruhanjaya Pencegahan Rasuah Malaysia (SPRM) cakera padat (CD) mengandungi rakaman perbualan berhubung tawaran ganjaran wang tunai RM80,000 dan jawatan Yang Dipertua Majlis Perbandaran Pulau Pinang (MPPP) jika beliau menarik diri bertanding pada pilihan raya kecil itu.

 

Bekas Ketua Wanita PKR Pulau Pinang itu juga mendakwa beliau ditawarkan jawatan Timbalan Ketua Menteri I Pulau Pinang, jika menang pilihan raya kecil itu dengan syarat menyertai semula parti berkenaan.

 

Tawaran itu didakwa dibuat oleh dua ahli PKR yang mengunjungi rumah Aminah di Jelutong, 13 Mei lalu.

 

Aminah adalah antara tiga calon Bebas yang menentang calon PKR, Mansor Othman pada pilihan raya kecil Penanti Ahad ini yang diadakan berikutan peletakan jawatan Mohammad Fairus Khairudddin.

 

Saifuddin juga berkata, peguam PKR, Ong Chin Wen sudah menghantar notis tuntutan permohonan maaf dan menarik balik kenyataan yang dibuat Aminah terhadap parti itu.

 

“Kita sudah menghantar notis ke alamat calon terbabit. Notis itu bertujuan supaya Aminah menghentikan fitnah yang dilemparkan bagi tujuan memperoleh keuntungan peribadi. Kita memberi masa tujuh hari kepadanya (untuk menjawab notis itu),” katanya.

 

Sementara itu, Pengarah SPRM Pulau Pinang, Latifah Md Yatim, yang dihubungi mengesahkan pihaknya sudah membuka kertas siasatan berhubung kes itu selepas Aminah membuat laporan kelmarin.

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AMINAH menyerahkan CD yang mengandungi gambar dan rakaman audio beberapa ahli PKR yang menawarkannya ganjaran kepada kakitangan SPR di Pejabat SPR di Komtar, Georgetown, semalam.

 

“Apabila ada laporan sudah tentu kami perlu membuat tindakan susulan iaitu menyiasat. Beberapa individu akan dipanggil bagi memberi keterangan,” katanya ketika dihubungi, semalam.

 

Aminah menemui dua pegawai SPRM di pejabat suruhanjaya itu di Butterworth, bermula jam 4 petang hingga 10 malam kelmarin, beberapa jam selepas beliau membuat pendedahan kepada media mengenai tawaran PKR itu.

 

Pada pertemuan itu, Aminah menyerahkan dekoder MP4 yang mengandungi rakaman perbualan berkaitan tawaran PKR kepadanya. Dekoder itu mengandungi perbualan dalam tiga pertemuannya dengan dua ahli PKR.

 

Semalam, Aminah turut menyerahkan sekeping cakera padat (CD) dan tiga cetakan gambar pertemuannya dengan ahli PKR itu kepada Suruhanjaya Pilihan Raya (SPR) Pulau Pinang di sini.

 

Aminah yang ditemui pemberita, mengakui kedua-dua ahli PKR itu memang kawan baiknya, tetapi beliau terpaksa membuat pendedahan itu selepas dicabar Pengerusi PKR Pulau Pinang, Datuk Mohamed Zahrain Hashim.

 

“Mereka mungkin faham mengapa saya buat rakaman. Hanya langkah berjaga-jaga. Malah, mungkin mereka juga membuat rakaman kerana ia memang tabiat orang PKR,” katanya.

-Berita Harian-

P/s: PKR dah mengaku… apa SPRM tunggu lagi? Bertindaklah!