Economic News

sgtsk · Oct 20, 2016

Investor888 said:
In my 2 decades to roaming around Malaysia and Singapore and surviving recessions ( back then 1997 crisis caused a few of my million dollar idols CEOS to jump and kill themselves ), I am of the opinion that the current economy of today and next 1-2 years are the most turbulent.

Seriously, I am supremely surprised that Singapore has not entered a recession yet. Something must be wrong somewhere. This current economy is most fucked of all.... the mother of all crisis... The perfect storm

I think the reserve singapore has would once again mitigate to great extent the recessionary impacts on singapore. The trouble I see is where is Singapore's new future growth is going to come from, when many strong pillars of sgp economy now competed away like rig and ship buildings, tourism, ports and logistics, refinery and petro chemical industries, even financial services are under serious threats. The planned moved up in innovations, knowledge based economy is slow in forthcoming and even in this new fields, new competitor like China is fast moving ahead. One just need to look at alibaba's range of innovative products like cloud computing, Internet of things,Fintech,...
Next few years would be about the time sgp has to rescue itself.

jasonjst · Oct 20, 2016

Investor888 said:
I have to agree with you on this. Singapore is surely and confirmed to be the Leeches, oops I mean Richest Country in the world. If not, why would the Citizens be so willing to pay the Singapore PM and his Kakis $300,000 a month salary which is 6-7 times more than the most powerful President of the World?

..actually its they ownself pay ownself....sinkies can only can suck thumb lor:p

snowbird · Oct 20, 2016

So, the world is now a bad place to live in, with so many negativities all surrounding us.
With oil prices hitting record low, first it was the oil producing countries being hit the hardest.
Saudi Arabia, which had been operating on a surplus budget is running into a deficit last year by a large 16%.
And for the first time, they are borrowing money!
In today's news, the Saudis will be issuing a US$17.5 billion mega bond and it'll be interesting to see who will be snapping it up.

With the falling oil prices, it was reported that as much as S$33 billions were wipeout from the market value of SG's O&G related companies and are affecting rigs and gas tanks builders like Keppel and Semcorp.
There was a slump of about 18% in the manufacturing sector, which make up about 20% of the economy which in turn slowed SG's economy growth to a dismay 0.6%, the slowest since 2009.
All the delayed or cancelled energy projects by those O&G companies are compounding the already adverse situation.
To date, at least 25,000 jobs have been axed while one company Swiber Holdings has been put under judicial management.
As such, these O&G related companies will be cutting the operating expenses and reduce work force in a big way.

Everyday, there are about 300,000 workers coming to SG to work and if you notice, many are coming in wearing orange or navy blue overalls.
Those are the people most probably working in one of the many shipyards.
Soon, you may be seeing lesser and lesser coming into SG and there will be more and more unemployed in JB.
Then the economy is JB will be somehow affected, the spending power will drop, the shopping centers and restaurants emptier.....................will this be good or bad for JB property prices?

snowbird · Oct 20, 2016

Investor888 said:
I have to agree with you on this. Singapore is surely and confirmed to be the Leeches, oops I mean Richest Country in the world. If not, why would the Citizens be so willing to pay the Singapore PM and his Kakis $300,000 a month salary which is 6-7 times more than the most powerful President of the World?

I rather pay them up front the million$$$ than like some country where a prime minister in just one term can have as much as US$700 million in his account and that's not including the other millions in "allowance" the wife and children get.
That amount can pay the expensive PM in SG for the next 700 years, now show me the bigger leech here.

cow138 · Oct 20, 2016

We lost the lead when Singapore forgo engineering as a pillar of the economy and focusing on the financial services

Investor888 · Oct 21, 2016

Singapore is now neither here nor there and even trying to position itself as the Gambling Capital of Asia. ( Failed badly of course when they attracted PRCs to become Citizens and now Singapore image is worse than Macau )

Keppel, SembCorp, PSA, Changi Airport, SIAs, NOLs and even SPH, etc.. the list just rattle on and on about their spectacular demise and billions of losses over the past few years. All will ultimately end up as TigerAirway ( Hide under SIA/Temasek Skirt )

Not to worry folks, The PAP government, as the highest paid in the world so confirmed the most intelligent of all times, will come up with brilliant ideas to earn more money ( from the peasants that is ). Eg, COE supply has risen so much and we were promised lower COE but what happened? The COE shot up again. This is how they make money so u don't worry. Malaysia govt got no COE to collect from its people. So Malaysia govt gota worry about their future

winners · Oct 21, 2016

snowbird said:
Everyday, there are about 300,000 workers coming to SG to work and if you notice, many are coming in wearing orange or navy blue overalls.
Those are the people most probably working in one of the many shipyards.
Soon, you may be seeing lesser and lesser coming into SG and there will be more and more unemployed in JB.
Then the economy is JB will be somehow affected, the spending power will drop, the shopping centers and restaurants emptier.....................will this be good or bad for JB property prices?

Some people here really talk through their asses. They like to talk so many bad things related to the Singapore's governance and economy, but they will always ignore and disregard that 60% of JB's economy is also inter-related. Even worse is that fellow who had bragged about buying at RM200k and selling to Sinkies at S$200k. If many of those in Singapore will be out of jobs, where will that S$200k Sinkie buyers going to come from? Just show his own stupidity here. No words to describe.

Funniman · Oct 21, 2016

winners said:
Some people here are really naive. They like to talk so many bad things related to the Singapore's economy, but they will always forget that 60% of JB's economy is also inter-related. Even worse is that fellow who buys at RM200k and sells to Sinkies at S$200k. If many of those in Singapore will be out of jobs, where will that S$200k Sinkie buyers going to come from? Just show his own stupidity here. No words to describe.

Sinkie buyers?....lama sudah balik already. Which Sinkie want to buy JB lagi?
Semua PRCs yg beli.

Facts are facts. Singapore bad is all reported news. Not talk bad news doesn't said it good news. Cover eyes wit 2 leaves pun no use.
Who talk bad on Malaysia first? Ask him to shuddap dulu.

winners · Oct 21, 2016

Funniman said:
Sinkie buyers?....lama sudah balik already. Which Sinkie want to buy JB lagi?
Semua PRCs yg beli.

Facts are facts. Singapore bad is all reported news. Not talk bad news doesn't said it good news. Cover eyes wit 2 leaves pun no use.
Who talk bad on Malaysia first? Ask him to shuddap dulu.

So, you are doing tit-for-tat. It just reflects upon yourself. Let's just wait and see how sincere are those PRCs going to prime the JB's economy. Give them another 2 years to be fair.

I think they have much to be blamed for the oversupply and leading to the collapse of the condo market in JB today.

Funniman · Oct 21, 2016

winners said:
So, you are doing tit-for-tat. It just reflects upon yourself. Let's just wait and see how sincere are those PRCs going to prime the JB's economy. Give them another 2 years to be fair.

Tit for tat? Suruh budak tu refleck dulu. For every action, pun ada reaction. Jangan fikir lu yang right everytime.

winners · Oct 21, 2016

Funniman said:
Tit for tat? Suruh budak tu refleck dulu. For every action, pun ada reaction. Jangan fikir lu yang right everytime.

No need to argue endlessly. Time will tell. Itu budak, awak orang tua ah? Sudah berapa tahun experience?

Funniman · Oct 21, 2016

winners said:
No need to argue endlessly. Time will tell. Itu budak, awak orang tua ah? Sudah berapa tahun experience?

Sesiapa I tak penting. Yang penting semua happi. U ok tapi ornag lain tak ok. Cucuk sini, cucuk sana buat ape? Betul tak?
Ni anak Johor Pontian..la.

winners · Oct 21, 2016

Funniman said:
Sesiapa I tak penting. Yang penting semua happi. U ok tapi ornag lain tak ok. Cucuk sini, cucuk sana buat ape? Betul tak?
Ni anak Johor Pontian..la.

Baik lah anak Johor. Tapi jangan kerja di Singapura ok? Kalau ada, malu lah.

Funniman · Oct 21, 2016

winners said:
Baik lah anak Johor. Tapi jangan kerja di Singapura ok? Kalau ada, malu lah.

Kakaka....lucu lah engkau. Kerja kat Singapura? Buat ape? Bukan semua orag MY minat kerja kat Singapura tau?
Change your mindset. Dunia ni bukan dalam tempurung.

winners · Oct 21, 2016

Funniman said:
Kakaka....lucu lah engkau. Kerja kat Singapura? Buat ape? Bukan semua orag MY minat kerja kat Singapura tau?
Change your mindset. Dunia ni bukan dalam tempurung.

Tapi ada banyak orang setiap pagi hari masuk Singapura untuk kerja. Awak boleh melihat sendiri di causeway dan 2nd link. Semua jiran-jiran saya pun ada anak dan/atau relatives kerja atau sekolah (private) di Singapura. Orang-orang mesti mau cari makan lah. S$1=RM3 woh!!

winners · Oct 21, 2016

Anyway, from my observation, JB's economy is inter-related to Singapore's. If the Singapore economy suffers, it will also affect JB to a certain extent. KL will give priority to its own progress first as can be seen from the Budget to be announced today. They will pay more attention to their MRT needs (not RTS) and improvements beneficial to KL first and it's only logical because it's the capital and financial centre of Malaysia.

Funniman · Oct 21, 2016

winners said:
Tapi ada banyak orang setiap pagi hari masuk Singapura untuk kerja. Awak boleh melihat sendiri di causeway dan 2nd link. Semua jiran-jiran saya pun ada anak dan/atau relatives kerja atau sekolah (private) di Singapura. Orang-orang mesti mau ceri makan lah. S$1=RM3 woh!!

Setuju. Ekonomi dua dua negeri memang terikat satu sama lain. Singapura surut, Johor pun surut. Penduduk JB pun ada saudara saudara kat Singapua dan orang Singapura pun ada saudara keluarga nya kat JB. Sejarah tu tidak bolih dinafikan.

I pun harap Petronas/ Tanjung Pelepas atau Keppel / Sembawang pun maju. Jangan lah katakan keburukan MY setiap hari semacam ada tujuan yang tak sedap. Kalau nak balas, ada banyak buruk SG bolih dipos kan kat sini.

winners · Oct 21, 2016

Expect your favorite hawker and restaurant foods to go up in prices soon.

Malaysia Budget: KL to remove most cooking oil subsidies

KUALA LUMPUR • Malaysia will remove subsidies on most packages of cooking oil from Nov 1, the first time in 10 years that the price of the key cooking ingredient will be hiked.

The move, announced two days before Prime Minister Najib Razak unveils Budget 2017, is expected to push up prices of food sold in restaurants and at roadside stalls.

Subsidies for all but two sizes of cooking oil packages will be removed, said the Malayan Edible Oil Manufacturers' Association in a statement on Wednesday.

The two packages that will retain subsidies until the end of the year are 1kg polybags and 5kg bottles of cooking oil. From Jan 1, only the price of the 1kg polybag will still be subsidised. All the other sizes, such as 500g, 1kg, 2kg and 3kg bottles, will no longer be subsidised in what is seen as a move to boost government revenues.

"All retail prices of blended cooking oil in various packing sizes will also no longer be subsidised," the association said.

It said the removal of the subsidies was in line with the Restructuring of Cooking Oil Price Stabilisation Scheme implemented by the government in June 2007 when oil palm prices were high globally.

The Federation of Malaysian Consumers Association says its main concern is that traders would increase the prices of cooked food. "The government needs to ensure that traders will not increase prices by too much," said Fomca deputy president Mohd Yusof Abdul Rahman.

Federation of Malaysian Hawkers Association president Yaw Boon Choon said the removal of subsidies would affect food traders.

Ms Angeline Leong, 47, who works in the property management sector, said she planned to stock up on cooking oil.

"Usually, I buy a 5kg pack of cooking oil a month. Now I will buy four or five bottles," she said.

Semua barang-barang pun naik, tapi gaji tidak naik.

Funniman · Oct 21, 2016

winners said:
Expect your favorite hawker and restaurant foods to go up in prices soon.

Malaysia Budget: KL to remove most cooking oil subsidies

Semua barang-barang pun naik, tapi gaji tidak naik.

KUALA LUMPUR: Second Finance Minister Datuk Johari Abdul Ghani (pic) said the people will continue to benefit from cooking oil subsidies from the Government.

"The people will not be affected and will continue to be subsidised," he said when commenting on a report citing Malayan Edible Oil Manufacturers Association (Meoma) that the price of some cooking oil will rise next month following the removal of subsidies by the Government.

"The cooking oil subsidy given by the Government is used for export sale. This is what we want to control," he said in the Parliament lobby here Thursday.

Measures to plug leakages of cooking oil subsidies is being tackled by the Domestic Trade, Cooperatives and Consumerism Ministry (KPDNKK).

On Wednesday, its Minister Datuk Seri Hamzah Zainuddin said the licence of wholesalers and suppliers would be withdrawn if they were found to be hoarding cooking oil for quick gain. – Bernama

Takkan lah Lu risau...Lu orang Singapura, kan. 3 kali ganda, untung lo.

Tekkun · Oct 21, 2016

Funniman said:
KUALA LUMPUR: Second Finance Minister Datuk Johari Abdul Ghani (pic) said the people will continue to benefit from cooking oil subsidies from the Government.

"The people will not be affected and will continue to be subsidised," he said when commenting on a report citing Malayan Edible Oil Manufacturers Association (Meoma) that the price of some cooking oil will rise next month following the removal of subsidies by the Government.

"The cooking oil subsidy given by the Government is used for export sale. This is what we want to control," he said in the Parliament lobby here Thursday.

Measures to plug leakages of cooking oil subsidies is being tackled by the Domestic Trade, Cooperatives and Consumerism Ministry (KPDNKK).

On Wednesday, its Minister Datuk Seri Hamzah Zainuddin said the licence of wholesalers and suppliers would be withdrawn if they were found to be hoarding cooking oil for quick gain. – Bernama

Takkan lah Lu risau...Lu orang Singapura, kan. 3 kali ganda, untung lo.

My budget wishes:

Let's see if it come true this evening.

Infrastructure projects full steam ahead, BRT, MRT and HSR.
Housing loans relaxed.
Increased grants for disable organisations.

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