Economic News

snowbird · Mar 19, 2015

RedsYNWA said:
No offence Bro, but clearly you are not a politician. Maybe if you look at these posts 10-15 years later, you would have a better idea why he said those things. Sultan is actually a v smart man, or should I say, the brains behind the scripted interview is a v smart man?

Obviously a smart man, otherwise how to pocket a few billions$$$$ in a short time just with the stroke of a pen?

FHBH12 · Mar 20, 2015

After taxis and express buses, now rail tickets to cost more
Published: 19 March 2015 8:22 PM

Hours after news of higher taxi and express bus fares, KTM Bhd which operates the popular Komuter rail service also announced an impending hike on ticket fares, effective May 1.

In a statement on its website, KTMB said the new cash fares would be revealed on April 1 at all its Komuter stations and online.

The difference between the new fares for a single journey will depend on the travelling distance from one station to another.

The country's sole railway operator, a government-linked company, today only announced the quantum of discounts for special pass holders on the new cash fares when they take effect.

Commuters using the stored value card will enjoy a 20% discount on the new fares; those with a weekly pass will get between 18% to 26% off; while monthly pass holders will get a discount of between 19% and 35% off the new cash fares.

The actual discount will depend on the travelling distance, KTMB's statement said.

Senior citizens, the disabled and children aged 4 to 12 can travel on concession rates at 50% off the new fares.

KTMB said the new fares, which have been approved by the Land Public Transportation Commission (SPAD), are exempted from the Goods and Services Tax (GST), and that its last fare revision was in February 2003.

The railway operator's fare hike in May will come at a time when the public has to adjust to fork out more for GST at 6% which kicks off on April 1, as well as higher taxi fares which took effect today, and increased express bus ticket prices effective May 15.

Earlier today, SPAD chairman Tan Sri Syed Hamid Albar announced an increase in taxi and hired car fares of between 20% to 67% starting today, and up to 22% for express bus ticket prices from mid-May.

The triple-blow for taxi, bus and rail users has prompted criticism on social media, including from pro-government individuals like Umno Youth exco member Ibdillah Ishak, who asked if the almost-simultaneous fare hikes were a “pre-GST sabotage against the government".

"KTMB as a government-linked company should not burden the people with drastic fare hikes. Have they forgotten their responsibility to help the people," he tweeted this evening.

Others speculated that the move to make public transportation costlier in addition to imposing GST on consumers, would add even more fire to the attacks against Prime Minister Datuk Seri Najib Razak.

"SPAD announced a hike in taxi and express bus fares. KTMB announces higher train fares. Who next is going to raise fares? Have they gone mad or what?" former Umno minister Datuk Saifuddin Abdullah tweeted.

KTMB said commuters could call its hotline at 1300-88-5862 for enquiries about the new fares. – March 19, 2015.

- See more at: http://www.themalaysianinsider.com/...ail-tickets-to-cost-more#sthash.A7Q09Dz9.dpuf

FHBH12 · Mar 20, 2015

2015 could be the year of great inflation in Malaysia :*:

Funniman · Mar 20, 2015

I may sound like a pessimist but it is time to review and restrategise your portfolio in view of current and future political scenario in Malaysia.
Watch this space.

Funniman · Mar 20, 2015

malpaso said:
Not a pessimist, but a realist.

I was a realist many years ago but a pessimist only in recent days.

RedsYNWA · Mar 20, 2015

Funniman said:
I was a realist many years ago but a pessimist only in recent days.

Don't worry too much. Spoke to some Chinese Bruneians a few months ago and sought their opinion on the Sharia law being implemented. To them, nothing has changed and life goes on..... They still roll in the big bucks, driving Porsches, BMWS and owning shop-houses/malls (though they claim they are not rich at all :biggrin:

)

potter · Mar 20, 2015

Funniman said:
I was a realist many years ago but a pessimist only in recent days.

It's okay, we do have PMS occasionally..:p

Funniman · Mar 20, 2015

potter said:
It's okay, we do have PMS occasionally..:p

I not only have PMS. I'm already bleeding in Malaysia. :smile:

Funniman · Mar 20, 2015

RedsYNWA said:
Don't worry too much. Spoke to some Chinese Bruneians a few months ago and sought their opinion on the Sharia law being implemented. To them, nothing has changed and life goes on..... They still roll in the big bucks, driving Porsches, BMWS and owning shop-houses/malls (though they claim they are not rich at all )

Malaysia need tourist dollars to feed the shopping complexes, the hotels and F & B chains. With Hudud laws even the FDIs would think twice before committing. Race based politics is bad enough but religion based politics is a lot more tougher.

Vohkster · Mar 21, 2015

cslong said:
I like the above statement from our Sultan especially that last sentence..... so local developers, please buck up....don't give us overprice houses with crap and lousy quality.

Many times told you, don't give sweeping statements.Back it up with FACTS!!

https://finance.search.yahoo.com/se...mNlX3NlYXJjaA--?p=china property&type=2button

A view shows a 22-floor residential building being demolished in Liuzhou, Guangxi Another giant Chinese real estate developer is in trouble.

Evergrande Real Estate Group, one of the country's largest developers, will receive more than $16 billion in credit lines from Chinese banks, the New York Times reported Tuesday.

As prices fall and housing units remain empty, real estate developers are having trouble paying back debt. Evergrande, while one of China's biggest developers, has also racked up one of the highest levels of debt, much of it from foreign investors.

But according to analysts cited in the article, the billion-dollar lifeline is only a short-term solution as China's housing market continues its downward spiral.

According to the New York Times, Evergrande's debt reached about $24 billion by the end of June, plus another $7 billion in perpetual bonds marked as equity. Company sales last year reached about $20 billion.

Earlier this year, another prominent developer Kaisa Group Holdings defaulted with more than $10 billion in debt and had $2 billion in assets frozen.

The $16.2 billion in credit will come from Bank of China, Agricultural Bank of China, Postal Savings Bank of China, and China Minsheng Bank.

For those who like cslong only promote China developers are the BEST in JB, Singapore and Batam?! INVEST at your own peril! Even cslong don't even buy China Developer properties! hahahaha...

Manhattan · Mar 21, 2015

A wise man with 40 years of successful malaysia property development once said with a hint of tears in his eyes about his biggest lesson learnt when asked by the reporter, he will not rush into doing too much too fast if he is to do it again. Malaysia market simply takes time to absorb, he almost went bankrupt.

Hope the chinese developers will not learn the same lesson.

potter · Mar 22, 2015

THE NEXT PRIME MINISTER OF MALAYSIA

Raggie Jessy

Let me tell you a short story.

Once upon a rainy November, three dato’s rendezvoused in a cavern with heads held high and wizardry in check. They came together with pearls of merry laughter, cackling sarcastically over what was to become of Malaysia’s premiership. “Hail Ku Li, the next Prime Minister of Malaysia!’, said the first dato’. And the merriment was no more.

His visibly antagonised comrade screamed, “Hail Hishamuddin, the next Prime Minister of Malaysia!” Soon, the two were at crosiers drawn as they prodded each other in furry, you know, like two kids poking each other with long pokemon candy sticks.

Meanwhile, the third Dato’, Dato’ Din, was manifestly fraught. He gathered his composure and quipped, “Hold on. Let me make a random call to someone from the rakyat and ask them who the next Prime Minister will be.” So he reached for his cell phone and dialled a random number.

Person #1: Hello?

Dato’ Din: Hello. I’m Dato’ Din here. I would like to ask you who you think would be the next Prime Minister of Malaysia.

Person #1: Can choose Chinese ah?

Dato’ Din: Be realistic…

Person #1: What I care la…

Dato’ Din: What do you mean you don’t care? Would it not interest you who the next Prime Minister of Malaysia will be?

Person #1: Really la…I don’t care one…

Dato’ Din: Why?

Person #!: Who become Prime Minister also make no difference one. Mahathir will cari pasai with him one. See Pak Lah? See Najib? Both also he give kaw kaw one la…

Dato’ Din: Huh??

Person #1: Aiya, you blind ah? They don’t care for us one la. They busy fighting about scandal lah…1MDB scandal, the food for oil scandal…Mahathir also got scandal one what…Perwaja scandal…he forget his own scandal, then say this scandal wrong, that scandal wrong…his scandal got right meh?

Dato’ Din: Well, if you had the power to appoint the next Prime Minister, who would you pick?

Person #1: I don’t want that power lah. I want the power to know which f***ing four digit number coming out first price Magnum tomorrow lah…

Dato’ Din: That’s all that matters to you?

Person #1: Why not? If I have power, you think I want to use the power to give someone be Prime Minister ah? You think I want to solve one problem with another ah? Better I solve my own personal problem la…you going to solve my personal problem for me meh?

Dato’ Din: Well, ok then. By the way, to whom am I speaking?

Person #1: Call me Chan…Ah Chan…ok, bye.

And the call ended. The Dato’ appeared dissatisfied, and proceeded to dial a second number at random. Soon, the Dato’ exchanged greetings with the person on the other end.

Dato’ Din: Hello. I’m Dato’ Din here. I would like to ask you who you think would be the next Prime Minister of Malaysia.

Person #2: I am not sure. Actually, peduli apa? Najib ke, Pak Lah ke, Melayu dah berpecah ni. Melarat pulak tu..bukannya depa buat apa pun..

Dato’ Din: Tu la, yang kita nak tau ni siapa yang mampu menegakkan martabat Melayu kita supaya kembali pulih seperti sediakala tanpa mengaibkan kaum Cina dan India…

Person #2: Tak usah la buang masa Dato’. Kembalikan je kuasa kat Sultan tu ha. Memang patut pun…Bukan ada apa yang nak dapat pun dari depa-depa yang duk ada dalam kerajaan sekarang ni. Bercelaru jadinya…bertelagah, bergelut…yang kami ni? Ha…pikir-pikirkanlah Dato’…

Dato’ Din: Saudara ni siapa?

Person# 2: Panggil je Salleh, Dato’..

Dato’ Din: Baik saudara Salleh. Terima kasih.

Person #2: Sama-sama Dato’.

An air of melancholy radiated in the room as the Dato’ turned to his comrades. “Well, I’ve made two calls. I think people pretty much couldn’t give a damn who becomes the next Prime Minister.”

“So why don’t you make the third call? Maybe that guy would have a better opinion,” said the first Dato’.

“Nah,” replied Dato’ Din. “I’ve got a strange feeling that the next guy would pick Mahathir.”

Bubble · Mar 22, 2015

potter said:
THE NEXT PRIME MINISTER OF MALAYSIA

Raggie Jessy

Let me tell you a short story.

Once upon a rainy November, three dato’s rendezvoused in a cavern with heads held high and wizardry in check. They came together with pearls of merry laughter, cackling sarcastically over what was to become of Malaysia’s premiership. “Hail Ku Li, the next Prime Minister of Malaysia!’, said the first dato’. And the merriment was no more.

His visibly antagonised comrade screamed, “Hail Hishamuddin, the next Prime Minister of Malaysia!” Soon, the two were at crosiers drawn as they prodded each other in furry, you know, like two kids poking each other with long pokemon candy sticks.

Meanwhile, the third Dato’, Dato’ Din, was manifestly fraught. He gathered his composure and quipped, “Hold on. Let me make a random call to someone from the rakyat and ask them who the next Prime Minister will be.” So he reached for his cell phone and dialled a random number.

Person #1: Hello?

Dato’ Din: Hello. I’m Dato’ Din here. I would like to ask you who you think would be the next Prime Minister of Malaysia.

Person #1: Can choose Chinese ah?

Dato’ Din: Be realistic…

Person #1: What I care la…

Dato’ Din: What do you mean you don’t care? Would it not interest you who the next Prime Minister of Malaysia will be?

Person #1: Really la…I don’t care one…

Dato’ Din: Why?

Person #!: Who become Prime Minister also make no difference one. Mahathir will cari pasai with him one. See Pak Lah? See Najib? Both also he give kaw kaw one la…

Dato’ Din: Huh??

Person #1: Aiya, you blind ah? They don’t care for us one la. They busy fighting about scandal lah…1MDB scandal, the food for oil scandal…Mahathir also got scandal one what…Perwaja scandal…he forget his own scandal, then say this scandal wrong, that scandal wrong…his scandal got right meh?

Dato’ Din: Well, if you had the power to appoint the next Prime Minister, who would you pick?

Person #1: I don’t want that power lah. I want the power to know which f***ing four digit number coming out first price Magnum tomorrow lah…

Dato’ Din: That’s all that matters to you?

Person #1: Why not? If I have power, you think I want to use the power to give someone be Prime Minister ah? You think I want to solve one problem with another ah? Better I solve my own personal problem la…you going to solve my personal problem for me meh?

Dato’ Din: Well, ok then. By the way, to whom am I speaking?

Person #1: Call me Chan…Ah Chan…ok, bye.

And the call ended. The Dato’ appeared dissatisfied, and proceeded to dial a second number at random. Soon, the Dato’ exchanged greetings with the person on the other end.

Dato’ Din: Hello. I’m Dato’ Din here. I would like to ask you who you think would be the next Prime Minister of Malaysia.

Person #2: I am not sure. Actually, peduli apa? Najib ke, Pak Lah ke, Melayu dah berpecah ni. Melarat pulak tu..bukannya depa buat apa pun..

Dato’ Din: Tu la, yang kita nak tau ni siapa yang mampu menegakkan martabat Melayu kita supaya kembali pulih seperti sediakala tanpa mengaibkan kaum Cina dan India…

Person #2: Tak usah la buang masa Dato’. Kembalikan je kuasa kat Sultan tu ha. Memang patut pun…Bukan ada apa yang nak dapat pun dari depa-depa yang duk ada dalam kerajaan sekarang ni. Bercelaru jadinya…bertelagah, bergelut…yang kami ni? Ha…pikir-pikirkanlah Dato’…

Dato’ Din: Saudara ni siapa?

Person# 2: Panggil je Salleh, Dato’..

Dato’ Din: Baik saudara Salleh. Terima kasih.

Person #2: Sama-sama Dato’.

An air of melancholy radiated in the room as the Dato’ turned to his comrades. “Well, I’ve made two calls. I think people pretty much couldn’t give a damn who becomes the next Prime Minister.”

“So why don’t you make the third call? Maybe that guy would have a better opinion,” said the first Dato’.

“Nah,” replied Dato’ Din. “I’ve got a strange feeling that the next guy would pick Mahathir.”

Good one-perhaps Mahathir is the right one to slap on those politicians who are too bz quarrelling among themselves instead of bringing stability and progress to the nation.Just lky..too much noise is a distraction, just lock them up and talk later.anyway impossible for Mahathir to return... don't think he will of given the chance.he just wants to retire

Funniman · Mar 22, 2015

Manhattan said:
A wise man with 40 years of successful malaysia property development once said with a hint of tears in his eyes about his biggest lesson learnt when asked by the reporter, he will not rush into doing too much too fast if he is to do it again. Malaysia market simply takes time to absorb, he almost went bankrupt.

Hope the chinese developers will not learn the same lesson.

We learnt so much from Tan Sri Dato Jeffery Cheah.
Never bite off more than you can chew. You might be choked.
And never borrow heavily to invest, for you do not know what will happen tomorrow.

FHBH12 · Mar 23, 2015

Interest rates accommodative for now: Zeti
21 MARCH 2015 @ 9:26 PM

KUALA LUMPUR: Bank Negara Malaysia said it will review the global economic conditions but stressed that the country's interest rates remain accommodative and supportive of the economy.

Its Governor Tan Sri Dr Zeti Akhtar Aziz said the central bank is steadier in its approach to interest rate adjustments as it relies on pro-growth measures in its monetary policy making.

"Of course we have to take into account of what is developing. We cannot live in our own world because all of us are affected by global developments," she said.

Zeti was speaking to reporters on the last day of the inaugural Asean Finance Ministers' and Central Bank Governors' Meeting here today.

Most of the Asian Central Banks have cut their interest rates this year to bolster their economic growth.

"Right now, our interest rates are accommodative, and very supportive of the economy. We will review conditions but right now our economy is on a steady growth path and the interest rates support that growth trajectory," said Zeti.

Zeti stressed that the Asean region would not pursue a single currency as the region is very diverse and does not have the pre-conditions for it.

"We are going for financial integration to achieve the same objectives of greater collective growth," she added.

Yesterday, former Indonesian Finance Minister Dr Mohamad Chatib Basri said the implementation of a single currency would not be easy, in light of the diverse economic structure and development levels of the 10 Asean member states.

"A single currency is probably the issue we really have to think carefully over. You can still have the integration and your own currencies," he said. -- BERNAMA

http://www.nst.com.my/node/77422

RedsYNWA · Mar 25, 2015

malpaso said:
My condolences to singaporeans for the passing of LKY. He was a great man.

As Robert Kuok put it, LKY was the greatest Chinese outside of China. Forever thinking, breathing Singapore. May he RIP.

cybermad · Mar 25, 2015

RIP Mr Lee....

Funniman · Mar 25, 2015

A highly respected man who gave his life for his beloved country toiling through the years.
RIP Mr Lee Kuan Yew.

cybermad · Mar 25, 2015

Funniman said:
A highly respected man who gave his life for his beloved country toiling through the years.
RIP Mr Lee Kuan Yew.

long queue lasting up to 8 hours to say goodbye to him...

cslong · Mar 25, 2015

cybermad said:
long queue lasting up to 8 hours to say goodbye to him...

Is a worth waiting queue as he sacrifice his whole life for Singapore. Farewell, Mr. Lee Kuan Yew.

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