Malaysia's 4th Quarter GDP Growth Positive

PUTRAJAYA, Jan 12 (Bernama) -- Early indications show that Malaysia will announce positive gross domestic product (GDP) growth for the fourth quarter of 2009, Minister in the Prime Minister's Department Tan Sri Nor Mohamed Yakcop said.

"How positive, I am not sure yet. Certainly it will be positive," he told reporters after the signing of a memorandum of understanding between the government and Oxford Business Group on "The Report: Malaysia 2010" here on Tuesday.

He also said the Economic Planning Unit that he is in charge of, was confident that the country would achieve more than five percent GDP growth for this year.

The government has projected a contraction of 3.0 per cent in GDP for 2009 after the first, second and third quarters showed negative growth of 6.2 per cent, 3.9 per cent and 1.2 per cent respectively.

Nor Mohamed said some of the positive indications included the clear trend of resumption of recruitment in the manufacturing sector and better corporate earnings.

"There is also very strong evidence that there is higher demand for electronic chips recently from the rapid expansion of the automotive industry in China and India.

"Advances in demand for a new generation of telecommunication devices were also seen," he said.

Besides that, Nor Mohamed said, the rising demand and short-term supply constraints had put an upward pressure on oil, rubber and palm oil.

"We are the winner on that sense as we are the largest producer," he said.

Passenger car sales had also picked up, rising to 40,569 in November last year from 36,254 in the same month a year before.

Loan application on a yearly basis had improved by 37.5 per cent in October last year while loan approval increased by 25 per cent.

Accordingly, Nor Mohamed said, the economic recovery was also expected to be faster this year.

"The multiplier from the RM67 stimulus packages will start cascading down this year," he said.

"Many evidences show 2010 is going to be a good year. Early days yet but the indication is quiet positive."

Whether the current strong stock market performance could be sustained, Nor Mohamed said: "Based on corporate earnings reports, the stock market seems to be in a sustainable phase and confident mood.

"The stock market reflects the underlying confidence that the investing public has on the government's proactive economic measures.

"As the domestic economic front is going to be positive, the stock market should do well," he added.

The market capitalisation of listed companies on Bursa Malaysia breached the RM1 trillion mark on Jan 5. Its all-time high was RM1.1 trillion, recorded in the early part of 2007 before the start of the global financial crisis.

Asked whether the reported attack on churches would affect investor sentiment, Nor Mohamed said: "Most investors who know us will realise that we are a united and tolerant country.

"I don’t think this should have too much negative long-term effect."

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Credit card tax for existing users to start on anniversary date

KUALA LUMPUR: Applicants issued with new cre­dit and charge cards next year will have to pay the RM50 service tax upfront.

For existing card holders, the charge will be im­­posed on the anniversary date of cards.

Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah, who confirmed this with The Star yesterday, said the Government would impose the service tax for credit and charge cards from next year.

“Existing cardholders will only be charged the ser­vice tax through their issuing banks upon the aniversary date of the card.

“For example, if the card’s anniversary date is in January, then you pay the tax in January. But if the date is in April, then you only pay the tax in April,” he added.

The minister’s clarification puts to rest nagging doubts among the millions of credit card holders in the country who have been raising queries since Prime Minister Datuk Seri Najib Tun Razak an­­nounced the new tax when he unveiled Budget 2010 in October.

Najib, who is also the Finance Minister, had said that a RM50 service tax for principal credit and charge cards and a RM25 for supplementary cards would be imposed from January.

This has led to card holders asking if the charges will be imposed from Jan 1 or on the anniversary dates of the cards, which are usually issued for a three-year period.

Those holding a string of cards were most eager to know before deciding to cancel some of their ac­­counts.

A check with the customer service departments of several commercial banks showed that they had yet to receive any definite confirmation.

Some banks said they were still awaiting for a directive from Bank Negara, while others think the tax would be imposed on the anniversary dates.

A third group of banks has also offered to absorb the tax for the cardholders, on condition a certain amount of money was spent within a certain timeframe.

Cardholder Y.L. Sim, who called up the bank to cancel his credit card, said the bank advised him “not to be hasty.”

“The officer said that they had yet to receive a formal directive from Bank Negara (on when to impose the tax). But I was worried as the New Year was nearing,” he said.

Deputy Finance Minister Datuk Chor Chee Heung, when contacted, advised cardholders to plan accordingly, saying holding two credit cards was enough.

““Even I intend to hold only two credit cards,” he added.

He urged those who had large outstanding credit card debts to stop using the cards and meet the issuing banks to work out a repayment mechanism.

There are some 11 million credit cards circulating in the country.

PNB Unit Trust Investors Can't Name Beneficiaries

Investors in unit trusts managed by Permodalan Nasional Berhad (PNB) cannot name their beneficiaries as regulations stipulated by Malaysia's Securities Commission does not allow the naming of beneficiaries.

"We are now finding ways of meeting the investors' wishes without going against the regulations set by Malaysia's Securities Commission," said chief executive officer of the PNB Group, Tan Sri Hamad Kama Piah Che Othman.

He said this when asked by reporters after launching the Amanah Saham 1Malaysia (AS1M) Promotion at the state level, here on Wednesday.

During the question-and-answer session with the public during the launch, Hamad was asked whether investors in unit trusts managed by PNB could name their beneficiaries as what was done by the Employees Provident Fund (EPF) and Tabung Haji.

He said when the deceased left shares worth RM600,000 or less, the beneficiaries could apply for the division of his estate under the Small Estates (Distribution) Act 1955 at the Land Administrator's Office.

If the amount was higher, the beneficiaries could apply for the distribution of the estate at the Estate Administrator's Office, the High Court or the Public Trustee.

Wake up call‏

Perhaps, like me, you will discover that friends and relatives around you are getting fewer and fewer. We used to have tight schedules for all sorts of new year gatherings in the past, but things seem to quiet down a lot this year.

Even on a normal day phone calls are getting rarer, and not too many people for us to meet nowadays. Perhaps everyone is engrossed with his own stuff, or perhaps people are beginning to adopt “homeward” lifestyle and avoid unnecessary trips.

Not so!

Many of my old friends and relatives are no longer around. Don’t get me wrong, they are still very much alive and kicking, only they have chosen to leave this land.

John has set up a factory in mainland China; Peter has quit his rewarding engineering job to run a small food stall in Australia; Robert quits local university to lecture in Hong Kong; Dave is in Taiwan to explore his career while some others have gone to the States, UK, and... oh yes, Indonesia.

I used to think this is just an isolated case. I slowly discover that such thing happens to other people around me as well. This is not an isolated case, but a widespread social phenomenon.
It involves not just a handful of people, but quite a multitude of them.

Some recent statistics disclosed by the foreign ministry have testified the fact that this phenomenon has been very real and close. From last March to this September, around 300,000 Malaysians looked for greener pastures beyond our shores, two thirds of them did so in the first eight months of this year alone.

The cumulative number of emigrating Malaysians has now exceeded two million, close to the number of Indonesian workers in this country.

The different thing is: those who have left the country are mostly middle-class professionals.
They are have a host of reasons to stay away from this country: to pursue further career advancements, to seek brighter future for their kids, to enjoy more freedom... In short, they have all grown disappointed with Malaysia.

50 years ago, everyone said Malaysia was the best, even better than Hong Kong and Japan.
30 years ago, they said Malaysia was not that bad, at least we were as good as Korea and Taiwan (Hong Kong and Japan were no longer mentioned by them).
20 years ago, they said Malaysia was still quite okay, at least we were better than China and Thailand (Taiwan and Korea were no longer in the same league).
10 years ago, they said Malaysia could never be like Vietnam or Indonesia, no matter how terrible it was (China was not in the same category any more).
Today, Vietnam and Indonesia have far outpaced Malaysia in economic development, the gap is fast closing in.

What to worry? We still have Philippines, Cambodia and Myanmar!

An economist who recently visited the Philippines said Malaysia could overtake her neighbour as the prime exporter of domestic maids in 20 years’ time.

Over the past half a century, Malaysia has been locking itself inside a huge courtyard house, distributing its wealth in antiquated ways and exhausting its rich social resources, forcing its best talents to look elsewhere. The country shuns competitiveness, ignores productivity and abhors meritocracy.

When the regional financial crisis struck, we locked ourselves in and escaped the massive destruction. Some people have taken delight in that, thinking we were geniuses.

But when other countries walked out of the crisis, they implemented substantial reforms and made bold advances ahead while our country stays largely stagnant.

It’s time to wake up, Malaysia.

FROM: mysinchew.com

Why Parents Are Always STRESSED!!!!! 1

USER OF MALAYSIA'S NORTH-SOUTH EXPRESSWAY - beware of 3rd lane

North-south highway 3rd lanes









I am a frequent user of our North-South Expressway and I have this IMPORTANT experience to highlight and share:-

I was driving back to Penang yesterday afternoon ( 24 June 08 ) when I saw the unfortunate accident in the opposite direction involving the passenger bus that skidded and overturned at Tanjung Malim. I didn't know that the skidded bus was from hometown Penang until I watched TV3 news later in the evening and was shocked to learn that the accident took two lives..

Now, this is what I need to share:-

I am a building contractor with over twenty years of experience and I have been driving my 5 series BMW (latest generation and a dammed solid road-holding car) each time I travelled to KL. Lately, the new extended 3 lanes highway had been opened up for use and since then, I have also been using it quite often.

HOWEVER, when I used it each time it is WET, I can really 'feel' that the new road surface is extremely SLIPPERY! To share with some of you, my car comes with a built-in traction control mechanism ( skidding prevention mechanism ) and you can feel it each time it is activated. Previously, I don't come across this kind of slippery feel except when I drive over a paddle of water at certain speed.

From my observation as a building contractor, the 'wearing course' of the new road surface could be TOO FINE OR TOO SMOOTH and TOTALLY UNSUITABLE for highway use!

The wearing course ( top premix layer ) mix design for highways should be of minimum 20mm coarse aggregate mix that will give us the required bond between the surface and our tyres. Fine wearing course ( 14mm coarse aggregate size and below ) is only suitable for normal road. ( A proper test need to be carried out to determine the mix design of the wearing course ).

Since the opening of the three lanes highway, I had seen cars skidding in front me or in the opposite direction and approximately 2 weeks ago, one of my friends who is also a frequent user of our NSE, came to share with me about his slippery feeling as well as the many skidded cars he had seen lately.

I am highlighting this to TV3 and The Star with the hope that a thorough investigation could be carried out immediately to find out how or what causes the bus to skid. A proper and independent test need to be carried out urgently to determine the design mix of the wearing course. THIS CAN SAVE LIVES.




IF YOU ARE USING THE NEW LANES AND IF IT IS WET, MAKE SURE YOU DRIVE SLOWLY!!!!

Petrol At Pump May Follow Market Price Next Year

KUALA LUMPUR, Oct 27 -- Datuk Seri Ahmad Husni Hanadzlah did not discount the possibility that petrol price at the pump could follow the market price or without subsidy once the restructuring of petrol subsidisation is implemented early next year.

The Second Finance Minister said with the new structure, the offer of subsidy will be more targeted to the qualifying group or the holders of MyKad to enjoy the subsidised petrol price.

"The system is being developed and will be implemented between the first and second quarter," he told reporters after officiating the National Taxation Seminar 2009 here on Tuesday.

New Tactic To Steal ATM Cards

Police have come upon a new tactic by foreign badhats to steal automated teller machine (ATM) cards at ATM machines around Brickfields.

The gang is made up of two to three men and a woman all in their 30s.

Brickfields police district chief ACP Wan Abdul Bari Wan Abdul Khalid said their tactic was to stand close behind or beside to observe the victim withdrawing money.

"After the victim withdraws the money and begins to take the ATM card, one person will tap the shoulder of the victim and when the victim turns the suspect will tell the victim that his or her money had fallen on the floor. At the same time another person in the group will take the victim's card or switch the card," Wan Abdul Bari told Bernama when contacted here on Tuesday.

He said when the victim turns to look for the so-called money on the floor the suspects would flee and when the victim turns to the ATM machine he or she will find the card missing or would be unaware that the card had been switched with another card.

"When the victim checks the account balance he or she will find that money had been withdrawn from the account," he said.

"We advise people to be alert when withdrawing money especially in this festive season," he said.

Till now there had been four cases in the district.

Meanwhile, police have arrested a 20-year-old man who is believed to have sweet-talked and then stolen from several teenage girls.

According to Wan Abdul Bari the suspect portrays himself as the son of a Tan Sri or Datuk over the Internet and coaxed the victims to go out with him.

"After several meetings, the victims will have confidence in the suspect. At some time the suspect would take the victim out and when she goes to the ladies, the suspect would tell her to leave her bag, laptop and valuables in his car.

"He then takes off with the things," he said.

He said police had seized a laptop, documents, car keys, various SIM cards, pen drives and several personal belongings of victims.

Besides that a police check revealed the suspect's car was a vehicle reported stolen in Kota Damansara.

"The suspect is still under remand and will be brought to court soon," he said.

PETROLIAM Nasional Bhd (Petronas) says its Petronas Primax 95 petrol will be available at all 920 Petronas stations nationwide by September 1.

PETROLIAM Nasional Bhd (Petronas) says its Petronas Primax 95 petrol will be available at all 920 Petronas stations nationwide by September 1.

The RON 95 fuel is currently available at more than 280 Petronas stations nationwide.

More stations will offer the fuel in stages.

Petronas Primax 95 claims to offer motorists enhanced fuel economy without compromising on engine performance and power, making it suitable for all cars, especially engines with direct injection technology.





The fuel, priced at RM1.75 a litre, is powered with the Sinar G-07 additive, which includes a friction modifier to protect engine parts and a combustion improver to enhance overall engine efficiency.

It is also formulated with a detergent to clean and prevent build-up of deposits that degrade engine performance.

Basic Salary of our Prime Minister

Basic salary only, excluding allowances
Prime Minister of Malaysia - RM 22,826.65 / $ 6,462 monthly
Deputy Prime Minister of Malaysia - RM 18,168.15 / $5,143 monthly
Cabinet Minister of Malaysia - RM 14,907.20 / $ 4,220 monthly

In 2007, Dato’ Seri Abdullah Ahmad Badawi was Prime Minister + Finance Minister + Home Minister + MP,

= RM 22,826.65 + (RM 14,907.20 x 2) + RM 4,112.79
= RM 56,753.84 monthly
= $ 16,066.19674 monthly

PM Launches Amanah Saham 1Malaysia

Amanah Saham 1Malaysia (AS 1Malaysia), an all-Malaysian fund managed by Permodalan Nasional Bhd, was launched by Prime Minister Datuk Seri Najib Tun Abdul Razak.

PNB chief executive officer Tan Sri Hamad Kama Piah Che Othman said AS 1Malaysia is a fixed price equity fund priced at RM1.00 per unit with a total fund size of 10 billion units, the biggest fund offering by PNB thus far.

"AS 1 Malaysia will be opened for public subscription beginning Aug 5, 2009 -- during a 30-day offer period beginning Aug 5, 2009 till Sept 3, 2009," he said at a media briefing Friday.

The minimum initial investment of AS 1Malaysia is 100 units while the minimum additonal investment is one 1 unit.

Hamad said the fund will be invested in Malaysian companies with its yield benchmark according to 5-year Malaysian government yields which currently hovers around 3.7 to 4.0 percent.

"During the offer period, subscription of the units is subject to an allocation of 50 percent for Bumiputeras, 30 percent for chinese, 15 percent for Indians and the remaining five percent for other minorities," he said.

To ensure a wider participation from the investing public, he said, the maximum investment limit during the 30-day offer period has been set at 50,000 units per accountholder for those between the ages of 18 and 55.

The maximum investment limit for those above 55, is set at 10,000 units per accountholder, he added.

PTPTN Offers Loans Based On Syariah Concept

National Higher Education Fund Corporation (PTPTN) has changed its loan scheme to education financing based on the syariah concept.

The concept, which impose a charge of one per cent a year, has been implemented for new students who were given the loans in December last year.

PTPTN, in a statement Thursday, said the concept would also be offered to old students.

"It will be carried out in stages beginning August where those eligible will be notified through the short messaging system," it said.

It stated that the first stage would involve 20,000 students whose loan approval were given between June 2008 and Dec 21, 2008, as well those pursuing diploma and degree studies in public institutions of higher learning and those who did not receive advance loan payment.

These students are required to check their status through the PTPTN website and to take the necessary actions, it added.

It said PTPTN borrowers who had completed their studies, but had not defaulted in their loan repayments, would also be offered the Ujrah concept.

For further information, the public are advised to call the PTPTN Call Centre at 03-20927788 or surf its website, www.ptptn.gov.my.

Water Disruptions In Shah Alam, Sepang And KL

Several areas in Shah Alam, Sepang and Kuala Lumpur will face water supply disruptions on Aug 3, 5 and 10 following the proposed installation of 'Water Balance Meters' by Syarikat Bekalan Air Selangor Sdn Bhd (Syabas).

The disruptions will begin on Aug 3 from 6 pm until 5 am the following day involving areas in the Klang Region in Shah Alam which include Sections 2, 3, 12, and areas around the Sultan Sallahuddin Abdul Aziz Shah Golf Club (KGSSAS), according to a statement from Syabas Tuesday.

The other affected areas in Shah Alam are Section 11, Kelab Shah Alam, Section 13 and Syabas Tadisma quarters in Section 13.

On Aug 5, supply disruptions will occur in the Sepang areas which will involve the whole of Bandar Baru Salak Tinggi beginning at 8 pm until 5 am the following day.



Supply disruptions will also occur on Aug 10 beginning at 5 pm until 6 am on the following day in Kuala Lumpur which covers the whole area of Sri Hartamas, Bukit Sentul, Jalan Pahang at the Jalan Pahang-Jalan Tun Razak junction until the Jalan Titiwangsa-Jalan Pahang junction.

Other areas affected by the supply disruptions are Jalan Tun Razak at the junction with Jalan Pahang until Jalan Langgak Golf, the whole of Jalan Semarak, and the areas around KLCC, the statement said.

Other affected areas in Kuala Lumpur are Jalan Ampang beginning at the Jalan Tun Razak-Jalan Ampang junction until the junction with the Middle Ring Road 2 (MRR2).



Syabas said parts of Kampung Baru, Taman Duta, Bukit Tunku, Tasik Perdana, the areas around Parliament House, Jalan Sultan Salahuddin, Jalan Tun Ismail, Jalan Dato Onn, Jalan Lembah Ledang, Jalan Perlis, Jalan Kedah, Jalan Selangor, Jalan Johor and Jalan Negeri Sembilan will also be affected.

As such, consumers are advised to store sufficient water upply before the dates of the water supply disruption.



Members of the public can contact the Customer Service Centre (PUSPEL) via the toll-free line at 1-800-88-5252 or to surf the Syabas website at www.syabas.com.my.

ASM units sold out

Permodalan Nasional Bhd (PNB) has announced that all remaining Amanah Saham Malaysia (ASM) units have been sold out.
The 1.6 billion units were part of the 3.33 billion additional ASM units announced by Prime Minister Datuk Seri Najib Razak at the 2009 Malaysian Unit Trust Week in Johor Baru on April 20.

Remaining 1.6 Billion ASM Units Offered To All Malaysians From July 21

KUALA LUMPUR, July 15 (Bernama) -- Permodalan Nasional Bhd (PNB) will be offering the remaining 1.6 billion Amanah Saham Malaysia (ASM) units, including those initially set aside for Bumiputeras, for subscription by all Malaysians from July 21.

PNB president and group chief executive Tan Sri Hamad Kama Piah Che Othman said a maximum investment limit of 20,000 units would be imposed on each account holder for seven days until July 27.

"Thereafter, investors can subscribe for the ASM units without any maximum investment limit depending on the amount of units left. Sales for the additional ASM units are based on a first-come, first-served basis," he told reporters here today.

The 1.6 billion units are part of the 3.33 billion additional ASM units announced by Prime Minister Datuk Seri Najib Tun Razak when launching the 2009 Malaysian Unit Trust Week in Johor Baharu on April 20.

Of the 3.33 billion units, Bumiputera investors were allocated 50 percent, Chinese 30 percent, Indians 15 percent and other races five percent.

Previously, ASM units were open to Malaysians aged six months and above irrespective of race.

ASM was launched in 2000 with an initial fund size of 2 billion units and all had been taken up within 21 days.

Since then, new additional units have been offered six times totalling 7.63 billion. The trust units allocated for the Chinese and Indians have been fully subscribed.

Hamad said the quota on the additional 3.33 billion units was imposed for three months from April 21 to diversify investor profile.

"The three-month period was sufficient to give all parties enough time to invest and to allow comprehensive participation," he said.

Asked whether PNB would lose if the Bumiputera quota was retained, he said: "We can create new units when we want to lauch new products and we can add more. When we have the need for anyone to make additional investments, we can create new units."

PNB has various funds for subsription by Bumiputera investors. Among them are Amanah Saham Wawasan (1.7 billion), Amanah Saham Didik (1.6 billion), Amanah Saham Nasional (921 million) dan Amanah Saham Nasional 2 (2.2 billion).

ASM was the second trust fund launched by PNB for all Malaysians.

Asked on Amanah Saham 1Malaysia, Hamad said: "Let the Prime Minister make the announce announcement. The date has been set."

Najib, when speaking at a gathering on the occasion of his 100th day in office on July 11, said the government had agreed to PNB establishing a new unit trust fund called Amanah Saham 1Malaysia with a size of 10 billion units.

Amanah Saham 1Malaysia

The government has agreed to Permodalan Nasional Bhd (PNB) establishing a new unit trust fund, Amanah Saham 1Malaysia, with a size of 10 billion units.

Prime Minister Datuk Seri Mohd Najib Tun Abdul Razak who made the announcement said the new fund would be launched soon and is open to all Malaysians above 18.

Over 6 Bln Units Available For Purchase

Over six billion units from various funds under Permodalan Nasional Bhd (PNB)'s Amanah Saham are still available for purchase by Bumiputeras and non-Bumiputeras.

PNB president/group chief executive, Tan Sri Hamad Kama Piah Che Othman, said among the funds available for Bumiputera investors included Amanah Saham Wawasan (1.7 billion), Amanah Saham Didik (1.6 billion), Amanah Saham Nasional (921 million), Amanah Saham Nasional 2 (2.2 billion) and Amanah Saham Malaysia (3.3 billion).

"Non-Bumiputera investors still have opportunity to invest in Amanah Saham Nasional 3 and Amanah Saham Gemilang, a variable-priced unit trust funds," he told a media briefing after the launch of Buku Sajak 30 Tahun PNB by its chairman, Tun Ahmad Sarji, here Friday.

According to Hamad Kama Piah, 3.3 billion units of Amanah Saham Malaysia for Bumiputeras might also be opened to all investors.

Meanwhile, he said, PNB planned to launch new products from time to time in order to encourage Malaysians to invest.

On when PNB would launch a new fund, he said: "We will announce as soon as possible."

A report in Berita Harian today said PNB was expected to launch another fixed-priced unit trust fund with an estimated size of RM3 billion soon.

Hamad Kama Piah said the establishment of Ekuiti Nasional Bhd (Ekuinas) would not overlap PNB's function but would complement one another.

"PNB will continue to look for opportunities that will provide better returns. We are focusing on managing unit trusts.

"We need investment either in listed or unlisted companies," he said.

He said Ekuinas could also invest in the same company that PNB invested as long as it benefited both parties.

Recently, the government announced the establishment of Ekuinas, a private equity fund with a paid-up capital of RM500 million.