For The First Time Malaysia Toll Concessionaire Agreements Made Public

Works Ministry for the first time allow the public to view the toll concessionaire agreements.

The toll concession agreements can now be viewed at the library of the Works Ministry but photocopies of the documents are not allowed, it needed the Order of the DYMM Yang di-Pertuan Agung under Section 3 of the Fees Act (1951) to be tabled in the Dewan Rakyat and gazetted.

Those who wished to view the concessionaire agreements can fill up the form then only allow to access the agreement for two hours and only five people are allowed at any one time, if they wish to have more time to view the agreements they need to fill up the new form and wait for their turn again.

I am happy to see that, now the Works Ministry start to take public suggestion regarding to the toll concession. In The Star Jan 8th, Works Minister Datuk Mohd Zin Mohamed has invited all parties who have studied the toll concession agreement to give him a memorandum with their queries or suggestion. Moreover, there is not time frame to submit the memorandum and is his duty as minister to respond.

According to New Straits Times news, Chief Minister Lim Guan Eng said the government should not use traffic volume and bank loan guarantees if government would like to privatise the second Penang Bridge. Commenting on the agreement for the existing bridge (Penang bridge) with Mekar Idaman Sdn Bhd, he said it was a lopsided agreement, which benefited the company, if the government refuses to approve an increment in toll rates, it has to compensate Mekar Idaman for the loss based on estimated traffic flow on the bridge.

MCA Youth will set up a special unit to study the toll concessionaire agreements which made public on 5th Jan 2009. What I surprise is that, the toll concessionaire agreements normally will discuss in the cabinet meeting, and MCA have several ministers in cabinet, they should well understand the issue before this concessionaire agreement made public.

As Malaysia citizen, that a great idea the the government review all the toll concessionaire agreements, but do our government act the best benefits for rakyat to sign the agreement the toll concessionaire agreement? Of course government also have to fair enough to the toll concessionaire company, but if there is lopsided then is not fair to either side.

Works Minister Datuk Mohd Zin Mohamed said all future toll concession agreements signed between the Government and highway operators will be made public.

But what we concern is the agreement will be fair enough?

Malaysia SME Facing Difficulty to Get Bank Loans

Recently, SME complaint that they have difficulty to obtain bank facilities, these make them hard to survive due to short of cash flows. Malaysia government’s previously mentioned that bank have sufficient liquidity and have the ability to provide loan.

SME complaints that their existing loan been reduced, overdraft facilities reduced, loan been call-back, reduce their trade loan facilities and etc.

Bank are cautious and take longer processing time when provide any loan to SME. Moreover, banks are focusing on their loan recovery department to give more pressure to the borrowers who delay their repayment obligation, in anticipation “problem” loan percentage have the high possibility to go up.

For SME side, they comment that banks are over-reacting to the global recession. Banks are not following to what Malaysia central bank advice, that not over-cautious when lending is concerned.

In other ways, if you are the bank what will you react? They have to responsible to the stake holders, which include the depositors, shareholders, government, staffs and etc. If bank predict that future economy will worsen, they may have to squeeze their lending, in order to protect their own benefits.

If you are wise businessman or entrepreneur, we should not complaint the bank but we have to find our own way to survive in this market. Market is cruel; if you can not sustain in this market you will be kick-out.

When that is bad time, as a businessman we should bear along with our stakeholders, try to re-plan all our strategy and over come this global recession.

US Tax Cut & Fiscal Spending to Boost Economy, Will Malaysia Follow Suit?

US President-Elect Barack Obama economic stimulus package including hundred billion of dollars worth of tax relief to individual and corporate, according to the transition official.

The tax relief will make up around 40% of the stimulus package and worth as much as USD 775billion.

The plan would attempt to boost consumer demand, a tax break worth USD 500 for individual and USD 1000 for couple.

For Business, US allowing companies to get refunds for taxes paid in any or all of the past five years by deducting losses they’ve incurred now; those losses can currently only be carried back two years.

US President-elect said “We need an American Recovery and Reinvestment Plan that not only creates jobs in the short-term but spurs economic growth and competitiveness in the long-term,” and “And this plan must be designed in a new way—we can’t just fall into the old Washington habit of throwing money at the problem. We must make strategic investments that will serve as a down payment on our long-term economic future. We must demand vigorous oversight and strict accountability for achieving results. And we must restore fiscal responsibility and make the tough choices so that as the economy recovers, the deficit starts to come down. That is how we will achieve the number one goal of my plan—which is to create three million new jobs, more than eighty percent of them in the private sector.”

How will Malaysia over come the global recession, will Malaysia government take the same move as US for the Recovery and Reinvestment plan. Will our government able to come out a solution that spur the economic growth and competitiveness in the long-term? Do our government can make a strategic investment that benefits our long-term economy?

Can the Malaysian political use US politic as benchmark that come together to seek solutions that benefit not the interests of any party, or the agenda of any political group, but the success of all Malaysian? Or Malaysia political use the "Dewan Rakyat" as the place for them to "mouth battle" and past their time, I am not said that they didn't do their duty, but let us watch the live telecast to justify ourself.

We Malaysia face the 1997 economic crisis before, we should be more knowledgeable to handle the economy crisis.

So how will the Malaysia political both Barisan Nasional and Pakatan Rakyat come out a better solution to make all Malaysian have a better lifestyle in the future.

Reference :

1. CHANGE.GOV -American Recovery and Reinvestment Saturday, January 3, 2009 06:00am EST / Posted by Dave Rochelson

2. BLOOMBERG.COM - Obama Said to Push for Tax Cuts in Stimulus Plan By Brian Faler and Ryan J. Donmoyer

2009 What Do you Want to Achieve?

This year 2009, what do you want and how to achieve it? Whether you are a student, entrepreneur, employee, government servant & etc, we have to plan for our goal. Below is some of theory that I will plan for my goal in 2009.

I will use the theory of how to plan for a S.M.A.R.T Goals, the goals must be:

Specific
Measurable
Attainable
Realistic
Timely / Tangible

Specific - The goal must be specific rather than general goal. Below four "W" will lead you better planning your goal.

Who: Who should do it ?
What: What you should do?
Where: The place.
Why: What reason make you to plan this goal?

Measurable - The goal must be able to determine, such as I want to save extra RM100.00 per month, then after 6 months need to measure it, whether you achieve it?

Attainable - The goal must make it come true. Do your abilities, skills, and financial capacity to reach it? If not, how to make it happen?

Realistic - The goal must be justifiable by yourself, do you willing to do it? You can not set a goal that, I want to earn RM1million per year, but in realistic you just work 8hour office work with your employer and take a salary of RM2,000 per month.

You must beleive that the goals is acheivable, not matter how you must achieve it.

Timely - A goal without time frame is equal to zero. We must set a time, when we must acheive it.

Tangible - When we acheive a goal, it must be able to feel the satisfication. Goal must also be concrete,real and attainable.

Happy planning for your goals. In the market the is a lot of open source that can assist you to setting up the goals. Not matter you plan your goals in a paper, computer,mind and etc, the most important is we must acheive it and fulfill the theory of S.M.A.R.T then we will feel the satisfication.

Happy New Year 2009

Dear Friends,

May you & your family well & happy always.

Let all the Malaysian put more effort and cross our fingers to overcome this global economic slowdown.

We Malaysian can do it, we will do the best!!!

OTL

Summarise from Bank Negara Malaysia Press Statement release on 30 Dec 2008

Monetary and Financial Developments November 2008 Highlights of the Press Release

1) Commercial Bank lowered the fixed deposit (FD) rates for tenures between 1 and 12 months were within the range of 3.02% to 3.53% and the base lending rates (BLR) in response to the reduction in the Overnight Policy Rate (OPR). The average lending rate (ALR) decreased to 5.98% in November (6.01% in October).

2) On gross terms, however, financing raised by the private sector was slightly lower at RM53.1 billion. Total loans outstanding expanded at an annual growth rate of 10.7% as at end-November.

3) During the period 1 November to 26 December 2008, the ringgit appreciated by 2.4% against the US dollar. The ringgit, along with most regional currencies, had earlier depreciated in November due to portfolio outflows caused by the global de-leveraging process and heightened risk aversion amid the global financial turmoil.

4) The ringgit appreciated against the pound sterling (13.6%), but depreciated against the euro (-6.3%) and the Japanese yen (-6.1%). Against regional currencies, the ringgit depreciated against the Philippine peso (-0.5%) and Singapore dollar (-0.2%), but appreciated against other regional currencies in the range of 2.2% to 3.6%.

5) Investor trimmed their long position in US dollar following the reduction in the Fed Funds rate to 0% - 0.25% on 17 December 2008.

6) Inflation 5.7% in November 2008.

7) Broad money, or M3, expanded at a faster annual rate of 12.5% in November or increased by RM8.8 billion,reflecting the higher provision of credit to the private sector and expansionary Government operations.

8) Net non-performing loans (NPLs) of the banking system at 2.4% of total net loans.

9) Banking system capitalisation remained strong with a risk-weighted capital ratio (RWCR) of 12.5%.

10) The international reserves of Bank Negara Malaysia amounted to RM336.4 billion (equivalent to USD97.7 billion) as at 28 November 2008. As at 15 December 2008, the international reserves amounted to RM330.4 billion (equivalent to USD96 billion). The reserves position is sufficient to finance 7.8months of retained imports and is 3.4 times the short-term external debt.

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Comment :

Lower FD will affect the return for the deposit holders; for those retire and rely on interest rate they may receive lower income but need to bear the higher expenditure for their daily life. The inflation is at 5.7% base on BNM information. In reality it might be higher, depend on the person spending or expenses.

As November financing by private sector still at a stable level, with the global recession, do the Malaysia bank still will continue provide loan at double digit growth? Loans outstanding expanded at an annual growth rate of 10.7% as at end-November.

Although MYR appreciate 2.4% against USD, but if we compare with Dec 07, MYR actually depreciate around -5% against US. MYR depreciate roughly -23.2% against Japenese Yen from Dec 07. And compare with our neighbor country Singapore’s SGD we depreciate around -4.9% from Dec 07.

Inflation may come down, but the other issue is do we have the purchasing power? The rural area people is highly rely on plantation, nowadays Crude Palm Oil (CPO) and rubber commodity price coming down a lot, to maintain their daily expenses also a problem.

On November Broad money, or M3 still at the stage of expand, but BNM Malaysia also mention that foreign outflows continued to exert a contractionary impact on M3 and for the Nov 08 net foreign assets outflows around 12.1 billion from Oct 08 22.7 billion.

Malaysia international reserves also decrease starting from this few months, as this may indicate more outflows money. Do these mean the foreign investors’ lack of confidence to us? Why they would like to outflow the money? Where do they put the money?

2009 Most and Least Fuel Efficient Vehicles

The Most Efficient Overall Vehicle:

Toyota Prius
Engine(s) : Toyota Hybrid System II
Gasoline 1.5L DOHC I4 VVT-i
57kw (76 hp) @ 5000 rpm
115 Nm (85 lb-ft) @ 4200rpm
Electic: 500 V
50kw (67 hp) @ 1200 rpm
400 Nm (295 lb-ft) @ 0 rpm
AT-PZEV:
Net power: 110 hp (82kw)

Transmission(s) 1-speed planetary gear
Wheelbase 2700mm
Length 4450mm
Width 1725mm
Height 1490mm
Curb Weight 1325kg



Source:
1. http://www.fueleconomy.gov/
2. http://en.wikipedia.org/wiki/Prius