Friday, April 27, 2012

RHBCap-OSK merger believed to have received Bank Negara approval

PETALING JAYA: The RHB Capital Bhd-OSK Holdings Bhd merger deal is believed to have received the nod from Bank Negara and is now awaiting approval at the Finance Ministry level, according to sources.

Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/4/27/business/11186098&sec=business
Published: April 27, 2012

“It will probably take another two to three weeks before an announcement is made,'' an analyst told StarBiz.

While most analysts had expected this nod, some industry players expressed surprise that the issues that were said to have held up the approval process could be resolved so fast.

“The market and industry have to make up their minds,'' said an observer. “One moment, they say the authorities are dragging their feet. The next moment, they question why was the process so fast.''

Among the issues apparently are those related to pricing; talk that CIMB is still interested in RHB, hence the rationale for RHB buying OSK; and that most department heads proposed for the investment bank are purportedly from OSK.

“At a pricing of close to two times book value, the goodwill incurred for taking over OSK could be around RM1bil,'' said an industry player.

At at Dec 31, 2011, OSK group shareholders' fund stood at RM1.041bil.

“That would be a lot to pay if it is indeed true that RHB could be taken over by CIMB.''

Also, this is regarded to be a complex deal that will see RHBCap's reach extended to markets like Indonesia, Cambodia, Hong Kong and China.

RHBCap and OSK had, as far back as Jan 11, applied for the central bank's approval for their merger.

Internally, RHB has set a target for the completion of the deal at the end of the third quarter.

Analysts said no doubt, this was a merger and acquisition story, but there could be a knee-jerk reaction on earnings at RHB, depending on the price paid for OSK. “As long as the valuation is not significant, the deal would be neutral to positive,'' said an analyst.

The regional footprint that RHB gains from this deal will be significant especially when it has had little success so far, with its acquisition of PT Bank Mestika dependant on changing bank rules in Indonesia.

“Investment banking operations in RHB have been quiet they have lost quite a few people who have not yet been replaced,'' said another analyst.

“This deal helps them get some replacements.''

With RHB mostly in institutional business and OSK in the mid-sized and commercial sector, there appears to be little overlap between the two.

Wednesday, April 25, 2012

BNM tak berganjak

BANK Negara Malaysia (BNM) mengekalkan pendirian untuk tidak mengkaji semula garis panduan baru bagi pinjaman berkuatkuasa 1 Januari lalu buat masa ini. Gabenornya, Tan Sri Dr Zeti Akhtar Aziz berkata, apa saja yang perlu diselesaikan adalah melalui perbincangan dua hala dan sekarang ini, pihaknya tidak mempunyai hasrat berbuat demikian.

Source from (Harian Metro): http://www.hmetro.com.my/myMetro/articles/BNMtakberganjak/Article/index_html
Published: April 25, 2012

Garis panduan pinjaman itu diluluskan berdasarkan pendapatan bersih dan bukan pendapatan kasar sebagaimana yang diamalkan sebelum ini. Pengumuman itu menyebabkan banyak pihak dalam industri automotif tidak gembira dan mengaitkan penurunan dalam jualan kenderaan kepada pelaksanaannya.

Beliau berkata, adalah tidak tepat bagi sesetengah peserta automotif untuk menyalahkan garis panduan berkenaan yang menyebabkan penurunan dalam jualan kenderaan.

“Saya tidak fikir ia satu yang betul...kerana untuk memastikan peminjam dalam kedudukan sesuai menambah hutang,” katanya ketika mengulas laporan bahawa garis panduan berkenaan akan dikaji semula di Kuala Lumpur, semalam. - Bernama

BNM tidak sekat pembelian kereta

KUALA LUMPUR 23 April - Bank Negara Malaysia (BNM) menegaskan penguatkuasaan Garis Panduan Amalan Pembiayaan Yang Baik sejak awal tahun ini bukan untuk menyekat pembelian kereta sehingga menjejaskan industri automotif negara.

Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/info.asp?y=2012&dt=0424&pub=Utusan_Malaysia&sec=Ekonomi&pg=ek_04.htm
Published: April 25, 2012

Sebaliknya, penguatkuasaan garis panduan itu bertujuan mendidik rakyat Malaysia lebih bertanggungjawab terhadap kedudukan kewangan mereka.

Penolong Gabenor BNM, Abu Hassan Alshari Yahya (gambar) berkata, sehubungan itu adalah tidak betul mengaitkan pelaksanaan garis panduan tersebut dengan kegagalan pembeli mendapatkan pinjaman membeli kereta.

Menurut beliau, pembeli tidak akan menghadapi masalah seandainya mereka lebih telus dalam mendedahkan pendapatan kasar dan pendapatan tambahan yang diperoleh.

''Bagaimanapun, kebanyakan pembeli tidak mengemukakan butiran lengkap menyebabkan mereka sukar untuk mendapatkan pinjaman, tidak ada kena mengena dengan garis panduan," katanya ketika ditemui di Minggu Saham Amanah Malaysia di sini.

Tegas beliau, garis panduan itu hanya memberi panduan kepada institusi perbankan dan kewangan dalam memberi dan meluluskan permohonan pinjaman.

"Bank akan menggunakan garis panduan tersebut sebagai pertimbangannya sebelum meluluskan pinjaman.

"Sudah tentu mereka yang layak akan mendapat pinjaman dan mereka yang didapati tidak berkemampuan pasti permohonan ditolak," ujar beliau.

Abu Hassan berkata, BNM masih memantau perkembangan tersebut dan yakin institusi perbankan dalam peralihan untuk melaksanakan garis panduan itu dengan lebih baik.

"Salah faham ini akan ditangani apabila orang ramai semakin memahami kebaikan pelaksanaan garis panduan tersebut.

"Kita tahu mereka yang mahu membeli kereta tidak mempunyai masalah untuk membayar deposit tetapi selalunya masalah akan wujud semasa menjelaskan ansuran kerana pada masa yang sama pengguna juga terpaksa membayar cukai jalan, insurans dan menanggung kos penyelenggaraan.

"Apabila masalah ini wujud, ansuran terjejas dan akhirnya kereta terpaksa ditarik. Justeru, garis panduan ini sebenarnya melindungi para pembeli, bukan menyusahkan," menurutnya lagi.

Saturday, April 21, 2012

Bank Negara Foreign Reserves up US$100m to USD135.8b

Kuala Lumpur (20 April 2012) - Bank Negara Malaysia's International Reserves as at April 13 rose US$100m to USD135.8 billion from USD135.7 as March 30.

Source from (The Edge Malaysia): http://www.theedgemalaysia.com/business-news/212230-bank-negara-foreign-reserves-up-us100m-to-usd1358b-.html
Published: April 20, 2012

In a statement friday, Bank Negara Said the reserves position was sufficient to finance 9.5 months of retained imports and is 4 times the short-term external debt.

Friday, April 20, 2012

Improving trade data good news for M'sian economy

KUALA LUMPUR: Surging exports in February and a more positive overall trend may be harbingers of improving economic growth for the country although the outlook is still conditional on global developments, especially in the eurozone, where there are still lingering concerns over sovereign debt and spending.

Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/4/20/business/11139088&sec=business
Published: April 20, 2012

Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz (pic) said at a media briefing following the awarding of scholarships to Sijil Pelajaran Malaysia top scorers that the trend had been quite positive despite the poor numbers in January.

“If this trend is sustainable, then we'll see improvement in the overall performance of the economy and see our outlook for growth closer to the upper end of the 4% to 5% range we forecast,” she said.

Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz
 
The International Monetary Fund, in its latest World Economic Outlook released on Tuesday, revised Malaysia's growth to 4.4% this year from 4% earlier in the year as well as the country's growth outlook. The Malaysian Institute of Economic Research in a recent briefing has also revised growth to 4.2% from 3.7% previously.

Zeti said risks remained, including a worsening of the euro-zone's debt crisis as well as a deeper downturn. “There'll be a dampening effect to our economy if these risks materialise,” she added.

Zeti declined to comment on the first quarter's gross domestic product (GDP) performance but said trade had improved significantly. “If this trend continues, then it'll show in the first quarter's numbers,” she said.

The central bank would be releasing first quarter GDP figures on May 23.
Statistics Department data showed exports jumped 14.5% year-on-year in February to RM56.9bil largely due to demand for electrical and electronic products, which rose 7.8% to RM18.6bil while crude petroleum exports climbed 54.4% on higher sales volume as well as higher prices.

Zeti said the central bank's decision on monetary policy would depend on domestic conditions. The overnight policy rate has remained at 3% since last May after four increases from March 2010.

“Our conditions show that inflation has moderated and we believe this trend will continue unless there are any developments, so the current interest rate is appropriate for the prevailing conditions and our projections also show inflation continuing to moderate,” Zeti said.

Economists believe that Singaporean policymakers would set the tone for policy tightening in the region as concerns over price pressures lingered following the decision by the Monetary Authority of Singapore last week to allow the Singapore dollar to appreciate at a faster pace in a trading band on concerns over inflation.

Meanwhile, Zeti said the central bank would continue to monitor residential property prices. “We don't think there is a general property bubble. We believe there are areas where prices remain high but we've enough measures in place to prevent the formation of such asset bubbles,” she said.

Ekonomi Malaysia tumbuh 5 peratus - Zeti

KUALA LUMPUR 19 April - Pertumbuhan ekonomi Malaysia pada tahun ini dijangka antara empat peratus hingga lima peratus walaupun situasi ekonomi luar yang mencabar, kata Gabenor Bank Negara Malaysia, Tan Sri Zeti Akhtar Aziz.

Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/info.asp?y=2012&dt=0420&pub=Utusan_Malaysia&sec=Ekonomi&pg=ek_02.htm
Published: April 20, 2012

Katanya, pada masa ini, trend pertumbuhan adalah positif dan sekiranya ia dapat dikekalkan, prestasi lebih baik bagi keseluruhan ekonomi boleh dicapai pada tahun ini.

''Ia akan menghampiri paras tertinggi purata jangkaan pertumbuhan (empat peratus hingga lima peratus),'' katanya kepada pemberita selepas menyampaikan anugerah biasiswa Kijang Emas BNM 2012, di sini hari ini.

Zeti berkata demikian ketika diminta mengulas mengenai unjuran pertumbuhan ekonomi lebih tinggi Malaysia oleh Dana Kewangan Antarabangsa (IMF) kepada 4.4 peratus pada tahun ini berbanding 4 empat peratus pada awal tahun lalu.

Bagi tahun 2013, IMF turut menjangkakan ekonomi Malaysia akan tumbuh sebanyak 4.7 peratus.

Selain Malaysia, IMF juga meningkatkan unjuran pertumbuhan bagi Indonesia, Thailand, Vietnam dan Filipina.

Sementara itu, Zeti berkata, kadar faedah negara adalah bersesuaian dengan suasana ekonomi semasa.

''Sebarang keputusan berkaitan kadar faedah dibuat berdasarkan keadaan domestik negara.

''Kadar inflasi negara pada masa ini adalah lebih baik apabila menyederhana dan trend tersebut akan berterusan melainkan terdapat sebarang perkembangan yang berlaku.

''Kadar faedah Malaysia adalah bersesuai dengan situasi semasa,'' jelasnya.

Ketika ditanya mengenai gelembung hartanah (property bubble) tempatan, Zeti berkata, pihaknya memantau perkembangan tersebut dan mempunyai penyelesaian bersesuaian bagi menghalang berlakunya situasi tersebut.

Terdahulu, Zeti menghadiri majlis penyerahan biasiswa Kijang Emas BNM yang diberikan kepada lima pelajar cemerlang Sijil Pelajaran Malaysia (SPM) untuk melanjutkan pelajaran ke luar negara.

Lima pelajar bertuah tersebut adalah Turga Ganapathy, Kwong Kien Yi, Wardah Shafiqah Mohammad Fadil, Adnan zikri Jaafar dan Pavithran Maniam.

Five students get Bank Negara scholarships

THE Kijang Emas Scholarships have been awarded to five outstanding students this year.
 Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz said they not only excelled academically but are also “all-rounded” students.

Source from (Bernama): http://www.bernama.com/bernama/v6/newsbusiness.php?id=660452
Published: April 20, 2012

Source from (The Star Online): http://thestar.com.my/education/story.asp?file=/2012/4/22/education/11145614&sec=education
Published: April 20, 2012

“The selection criteria for the Kijang Emas Scholarship Award is very stringent.
“For this year, we received more than 2,900 applications for the Kijang Scholarships and from this, we shortlisted 24 candidates for Kijang Emas based on not just their Sijil Pelajaran Malaysia (SPM) 2011 results but also their level of involvement and participation in co-curricular as well as sports activities,” she said at the Kijang Emas Scholarship award ceremony on Thursday.

The assessment, consisting of individual and group interviews were conducted by Bank Negara’s panel of interviewers.

The five are Turga Ganapathy, Kwong Kien Yi, Wardah Shafiqah Mohammad Fadil, Adnan Zikri Jaafar and Pavithran Maniam.

The Kijang Emas Scholarship Award is a prestigious scholarship introduced by Bank Negara Malaysia in 2005, reflecting the central bank’s commitment to directly invest in the development of talent for the nation.

“What differentiates the Kijang Emas award from the Kijang scholarship is that the recipients of Kijang Emas are given the flexibility to pursue any field of study at internationally renowned universities of their choice.

“The Bank does not impose any bond onto the recipients, with the exception that they must return to Malaysia and serve the nation,” she said.

To date, 34 top SPM performers have been awarded the Kijang Emas scholarship, and are pursuing their studies in areas as diverse as Medicine, Dentistry, Genetics, Biochemistry, Physics, Engineering, Law, Psychology and Architecture in top universities around the world.

Turga who obtained 9A+ in last year’s SPM will study environmental engineering, Kwong (10A+) chemical engineering, Wardah Shafiqah (9A+ and 1A) geophysics, Adnan Zikri (11A+) Arabic and Islamic Studies, and Pavithran (10A+) medicine.

Wednesday, April 18, 2012

Ringgit terus kukuh April 2012

NILAI ringgit dijangka akan meneruskan corak peningkatannya yang dicerminkan menerusi urus niaga pada RM2.95 berbanding satu dolar Amerika menjelang suku keempat 2013.

Source from (Harian Metro): http://www.hmetro.com.my/myMetro/articles/2012041801041220120418010412/Article/index_html
Published: April 18, 2012

Pengarah Urusan dan Ketua Bahagian Penyelidikan dan Strategi Asia (selain Jepun) The Royal Bank of Scotland plc (RBS), Chia Woon Khien berkata, ringgit dan dua lagi mata wang iaitu dolar Taiwan dan Singapura dijangka mengalami pengukuhan berstruktur dan dilihat sebagai tiga mata wang Asia paling berdaya tahan dalam tempoh panjang.

“Jangkaan ini berasaskan dua faktor utama iaitu polisi kewangan stabil dan rendahnya kebergantungan ringgit terhadap mata wang Euro, sekali gus menjadikannya lebih berdaya tahan ketika berdepan risiko jualan global.

“Kami percaya ringgit didukung pemegang polisi yang stabil. Bank Negara Malaysia (BNM) kekal antara bank pusat yang paling kurang campur tangan di rantau ini. Pujian harus diberikan kepada mereka kerana mengamalkan dasar yang betul,” katanya di Kuala Lumpur.

Beliau berkata, menjelang hujung tahun ini, ringgit diunjurkan berada pada paras RM3.02 bagi satu dolar Amerika.

“Pengukuhan selepas itu akan berterusan dengan nilai ringgit berada pada purata RM3 satu dolar Amerika untuk suku pertama 2013, RM2.99 (suku kedua 2013), RM2.97 (suku ketiga 2013) seterusnya RM2.95 pada suku keempat tahun depan,” katanya.

Dalam perkembangan lain, beliau berkata, harga minyak mentah dan sawit yang stabil turut memberikan bayangan lebihan dagangan akan terus meningkat.

“Faktor ini akan memberikan lebihan dagangan walaupun berlaku tekanan semasa dari segi harga eksport barangan elektronik. Malah, baki bayaran keseluruhan dagangan Malaysia mencatatkan lebihan untuk lima suku berturut-turut,” katanya.

Friday, April 13, 2012

Wang kertas baharu 16 Julai ini

KUALA LUMPUR 12 April - Bank Negara Malaysia (BNM) mengumumkan bahawa wang kertas Malaysia siri baharu akan diedarkan mulai 16 Julai 2012. Bertemakan 'Keunikan Malaysia', wang kertas siri baharu ini terdiri daripada denominasi RM1, RM5, RM10, RM20 dan RM100.

Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/info.asp?y=2012&dt=0413&pub=Utusan_Malaysia&sec=Ekonomi&pg=ek_04.htm
Published: April 13, 2012

Wang kertas RM50 dalam siri ini telah diedarkan sejak Disember 2007 dan akan terus berada dalam edaran, menurut BNM dalam kenyataan di sini hari ini.

Sebarang pertanyaan boleh hubungi BNMLINK di talian 1-300-88-5465 atau menelefon 03-26988044 sambungan 7307/8658 atau e-mel: ncs@bnm.gov.my.

Thursday, April 5, 2012

Ministry to discuss ING’s appeal for compensation

KUALA LUMPUR: The Finance Ministry will discuss with Bank Negara ING Insurance Agency Force Association Malaysia’s (INGIAFAM) request for a fair compensation for agents from the ING Groep NV’s (ING) Asian units’ sell-off exercise.

Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/4/9/business/11071889&sec=business
Published: April 05, 2012

“They have submitted a memorandum on their request and the ministry will discuss with Bank Negara on this matter as I was informed by the members that the central bank did not agree to it,” Deputy Finance Minister Datuk Donald Lim Siang Chai told Bernama after opening INGIAFAM’s new office building on Saturday.

ING, a Dutch financial services company, plans to scrap its plan to list its combined European Union (EU) and Asian insurance and investment management operations, to make it easier to sell the Asia operations separately, in return for EU’s approval for 10 billion euro of Dutch state aid received in 2008.

According to the association, the ING Asian business book value is RM24bil.

Earlier, Lim said he hoped Bank Negara would consider INGIAFAM’s request since ING Hong Kong and ING Korea agency force were compensated from the selling exercise.

INGIAFAM represents about 10,000 ING agents in Malaysia.

Meanwhile, Lai Keun Ban, INGIAFAM chairman, compensation sub-committee, said ING Malaysian agency force was still uncertain and the livelihood of the agents and their families would be badly affected due to the possible negative consequences.

“If ING Malaysia does not fairly compensate the agents, we will face confidence crisis as they will give up their careers. Our policyholders will be badly affected as well if the agents leave the company,” he said.

He urged the Dutch company to consider its appeal seriously as the agents had always remained loyal to ING and continuously delivered promises to policyholders with efficient, effective and professional services. – Bernama

Malaysia cadang IDB sedia bantuan fiskal

MALAYSIA mencadangkan Islamic Development Bank (IDB) menyediakan bantuan fiskal sementara kepada negara anggota sedang membangun bank itu dalam menangani kejutan sistemik yang disebabkan ketidaktentuan ekonomi global. 

Source from (Berita Harian): http://www.bharian.com.my/bharian/articles/MalaysiacadangIDBsediabantuanfiskal/Article
Published: April 05, 2012

Negara anggota sedang membangun berdepan kejutan ekonomi 
samping itu, Malaysia juga mencadangkan supaya mekanisme jaminan kualiti berdaulat pelbagai hala diwujudkan dalam membantu negara anggota IDB untuk berdepan keadaan tidak menentu dalam ekonomi global pada masa depan.

Ini berikutan jurang antara pendapatan dan perbelanjaan umum bagi negara Pertubuhan Persidangan Islam (OIC), iaitu peratusan daripada Keluaran Dalam Negara Kasar (KDNK) mereka, meningkat dengan mencatatkan penguncupan 1.4 peratus pada 2007 kepada penguncupan 16.7 peratus pada 2011.

“Dalam perspektif ini, IDB perlu menimbang untuk memberikan bantuan fiskal sementara yang tepat pada masanya kepada negara sedang membangun dalam tindak balas terhadap kejutan kewangan dan ekonomi global,” kata Menteri Kewangan Kedua, Datuk Seri Ahmad Husni Hanadzlah pada Mesyuarat Tahunan IDB ke-37 di Khartoum, Sudan. Kenyataan beliau dikeluarkan di Kuala Lumpur, semalam.

Beliau turut mencadangkan IDB untuk menjalankan kaji selidik mengenai pembangunan dan arah aliran ekonomi makro di kalangan negara anggota IDB kerana analisis yang dihasilkan itu boleh digunakan sebagai alat pelengkap kepada penilaian secara proaktif keperluan bagi menyediakan bantuan fiskal yang dicadangkan.

Ahmad Husni juga menggesa negara sedang membangun untuk mengukuhkan ekonomi serta asas kewangan masing-masing dalam usaha menangani cabaran luar.
Beliau berkata, adalah penting bagi negara sedang membangun untuk mengurangkan kebergantungan mereka terhadap institusi serantau dan pelbagai hala.

Katanya, pertumbuhan ekonomi yang dinikmati Malaysia ketika ini adalah disebabkan kebolehan negara ini menangani kemelesetan ekonomi baru-baru ini.

“Ini mungkin kerana kami mempunyai asas ekonomi dan kewangan yang kukuh, sekali gus menyediakan kedudukan yang kukuh kepada negara untuk melaksanakan dua pakej rangsangan pada 2008-2009.

“Kedua-dua pakej itu, bersama dengan pelaksanaan Program Transformasi Kerajaan, Ekonomi dan Kawasan Pedalaman meningkatkan aliran pelaburan Malaysia, sekali gus meningkatkan kecekapan negara dan menambah nilai kepada ekonomi negara,” tambahnya.

Ahmad Husni berkata, Malaysia juga bernasib baik dapat mengurangkan defisit fiskalnya daripada tujuh peratus pada 2009 kepada lima peratus pada 2011, dan ia adalah lebih baik jika dibandingkan dengan jurang antara pendapatan dan perbelanjaan umum bagi negara OIC.

Di samping itu, Ahmad Husni turut menyarankan negara anggota OIC mempercepatkan ratifikasi Sistem Perdagangan Keutamaan OIC sejajar dengan usaha untuk meningkatkan aliran pelaburan serta menggalakkan pengembangan perdagangan di kalangan negara anggota.

Beliau berkata, ratifikasi protokol akan mewujudkan penciptaan rantaian bekalan yang lebih besar dan ia bukan saja memanfaatkan negara anggota secara perbandingan, malah dapat menangani ketidakseimbangan ekonomi global.

Katanya, inisiatif penting yang dicadangkan Malaysia itu ialah Pakatan Negara Anggota (MCPS), yang telah dilancarkan pada 2010 dan kini dilaksanakan oleh IDB.

Objektif MCPS adalah untuk mewujudkan rangkaian hubungan antara OIC di bawah beberapa teras utama termasuk pembangunan sektor swasta dan hubungan silang, jelasnya.