BANK NEGARA MALAYSIA (BNM) today announced introduction of a new Islamic monetary instrument knows as, Collateralised Murabahah.
Source from (The Malay Mail): http://www.mmail.com.my/story/bnm-introduces-new-islamic-instrument
Published: May 31, 2012
It said Collateralised Murabahah is essentially a Shariah-compliant financing secured by assets in which the financier has the right to sell the asset should the client fail to repay the financing.
"It combines the widely accepted Murabahah financing transaction with sukuk (Islamic bond) that forms the pledged asset to back the transaction," it said in a statement.
The central bank said Collateralised Murabahah will be a new low credit-risk financial instrument that enables collateralised interbank transactions in the Islamic Money Market in Malaysia.
"It will add diversity to existing liquidity management tools and further promote greater liquidity in the Islamic financial market," it said.
Collateralised Murabahah can be used by Islamic financial institutions to obtain liquidity from BNM under the standing facility and it will also be expanded to facilitate daily Islamic money market operations in the interbank market, it added.
Thursday, May 31, 2012
Monetari baru Islam - BNM
BANK Negara Malaysia (BNM) berhasrat mengumumkan pengenalan instrumen
monetari baharu Islam, iaitu Murabahah Bercagar (Collateralized
Murabahah).
Source from (Harian Metro): http://www.hmetro.com.my/myMetro/articles/MonetaribaruIslam/Article/index_html
Published: May 31, 2012
Murabahah Bercagar pada asasnya membabitkan konsep pembiayaan berlandaskan syariah bercagarkan aset dan pembiaya berhak menjual aset itu sekiranya gagal membuat bayaran balik.
Source from (Harian Metro): http://www.hmetro.com.my/myMetro/articles/MonetaribaruIslam/Article/index_html
Published: May 31, 2012
Murabahah Bercagar pada asasnya membabitkan konsep pembiayaan berlandaskan syariah bercagarkan aset dan pembiaya berhak menjual aset itu sekiranya gagal membuat bayaran balik.
Thursday, May 24, 2012
Confidentiality Of Customer Info Clearly Protected By BAFIA, Says Zeti
KUALA LUMPUR: The confidentiality of customer information is clearly protected by the Banking and Financial Institution Act 1989 (Bafia), Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz said.
Source from (Bernama): http://www.bernama.com/bernama/v6/newsbusiness.php?id=668189
Published: May 24, 2012
She said it is an offence under the Bafia for any officer of the bank to disclose any information relating to the account of its customer, and banks have in place control and effective processes to ensure compliance with this secrecy provision.
Speaking at a press conference to announce Malaysia’s first quarter 2012 economic performance here yesterday, she said it is only when there is a suspected offence under federal law or if there is a court order or where a customer has given consent, that relevant law enforcement agencies are authorised under the law to obtain information. — Bernama
Source from (Bernama): http://www.bernama.com/bernama/v6/newsbusiness.php?id=668189
Published: May 24, 2012
She said it is an offence under the Bafia for any officer of the bank to disclose any information relating to the account of its customer, and banks have in place control and effective processes to ensure compliance with this secrecy provision.
Speaking at a press conference to announce Malaysia’s first quarter 2012 economic performance here yesterday, she said it is only when there is a suspected offence under federal law or if there is a court order or where a customer has given consent, that relevant law enforcement agencies are authorised under the law to obtain information. — Bernama
Suku pertama 4.7% - BNM
BANK Negara Malaysia (BNM) mengunjurkan pertumbuhan Keluaran Dalam
Negara Kasar (KDNK) antara empat hingga lima peratus bagi suku kedua
tahun ini didorong permintaan dalam negara yang tinggi dan berdaya tahan
meskipun ekonomi global berkembang pada kadar perlahan.
Source from (Harian Metro): http://www.hmetro.com.my/myMetro/articles/Sukupertama4_7_/Article/index_html
Published: May 24, 2012
Unjuran ini meletakkan negara berada pada landasan untuk mencapai sasaran pertumbuhan ekonomi antara empat hingga lima peratus tahun ini selepas mencatat pertumbuhan sederhana 4.7 peratus bagi suku pertama tahun ini berbanding 5.2 peratus pada suku keempat 2011.
Gabenor BNM, Tan Sri Dr Zeti Akhtar Aziz (gambar) berkata, walaupun berdepan persekitaran luaran lebih mencabar, ekonomi Malaysia terus mapan disokong kegiatan ekonomi dilaksanakan sektor swasta dan awam.
“Permintaan dalam negara kekal berdaya tahan dengan pertumbuhan 9.6 peratus berbanding 10.4 peratus pada suku keempat 2011. Pertumbuhan perbelanjaan swasta pula mencatat angka lebih kukuh sebanyak 7.4 peratus berbanding 7.3 peratus pada suku keempat tahun lalu.
“Pertumbuhan ini disokong terutamanya hasil peningkatan pendapatan berterusan dan keadaan pasaran pekerja yang stabil selain dikukuhkan lagi dengan harga tinggi bagi komoditi, sentimen pengguna bertambah baik serta pemberian bantuan kewangan daripada program sokongan pendapatan,” katanya ketika mengumumkan perkembangan ekonomi dan kewangan di Malaysia bagi suku pertama 2012 di Kuala Lumpur, semalam.
Beliau berkata, dari segi penawaran, kebanyakan sektor utama ekonomi terus mencatatkan pertumbuhan sederhana pada suku pertama 2012.
“Ini berikutan pertumbuhan lebih sederhana dalam aktiviti
berorientasikan eksport melebihi dalam pengimbangan pertumbuhan mampan
dalam aktiviti berasaskan dalam negara,” katanya.
Zeti berkata, kadar inflasi menurun kepada 2.3 peratus bagi suku pertama tahun ini berbanding 3.2 peratus pada suku keempat 2011.
Source from (Harian Metro): http://www.hmetro.com.my/myMetro/articles/Sukupertama4_7_/Article/index_html
Published: May 24, 2012
Unjuran ini meletakkan negara berada pada landasan untuk mencapai sasaran pertumbuhan ekonomi antara empat hingga lima peratus tahun ini selepas mencatat pertumbuhan sederhana 4.7 peratus bagi suku pertama tahun ini berbanding 5.2 peratus pada suku keempat 2011.
Gabenor BNM, Tan Sri Dr Zeti Akhtar Aziz (gambar) berkata, walaupun berdepan persekitaran luaran lebih mencabar, ekonomi Malaysia terus mapan disokong kegiatan ekonomi dilaksanakan sektor swasta dan awam.
“Permintaan dalam negara kekal berdaya tahan dengan pertumbuhan 9.6 peratus berbanding 10.4 peratus pada suku keempat 2011. Pertumbuhan perbelanjaan swasta pula mencatat angka lebih kukuh sebanyak 7.4 peratus berbanding 7.3 peratus pada suku keempat tahun lalu.
“Pertumbuhan ini disokong terutamanya hasil peningkatan pendapatan berterusan dan keadaan pasaran pekerja yang stabil selain dikukuhkan lagi dengan harga tinggi bagi komoditi, sentimen pengguna bertambah baik serta pemberian bantuan kewangan daripada program sokongan pendapatan,” katanya ketika mengumumkan perkembangan ekonomi dan kewangan di Malaysia bagi suku pertama 2012 di Kuala Lumpur, semalam.
Beliau berkata, dari segi penawaran, kebanyakan sektor utama ekonomi terus mencatatkan pertumbuhan sederhana pada suku pertama 2012.
Zeti berkata, kadar inflasi menurun kepada 2.3 peratus bagi suku pertama tahun ini berbanding 3.2 peratus pada suku keempat 2011.
Monday, May 21, 2012
Banking system sound: Bank Negara
Malaysia'S banking system remains well capitalised with a risk-weighted capital ratio and core capital ratio at 14.7 per cent and 13 per cent respectively, said Bank Negara Malaysia yesterday.
Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/27banking/Article/index_html
Published: May 21, 2012
In a statement on the Monetary and Financial Developments for March, the central bank said the level of net impaired loans improved to 1.7 per cent of net loans, due to a write-off exercise by a number of banks as part of the balance sheet strengthening exercise.
"Loan loss coverage was sustained at above 90 per cent," it added.
However, it said that in terms of retail lending rates, the average base lending rate of commercial banks remained unchanged at 6.53 per cent and interbank rates were also stable in March.
"Broad money expanded at an annual rate of 15 per cent in March and during the month, the increase in credit extended by banks to the private sector was partially offset by capital outflows," it added.
It said net financing to the private sector expanded by RM18.7 billion in March due to an increase in outstanding banking system loans and higher net issuances of private debt securities.
"There was a continued expansion in banking system loans to businesses, mainly to wholesale and retail, restaurants and hotels, transport, storage and communication and the real estate sectors," it added.
Bank Negara said loans to households expanded during the month, driven mainly by those for the purchase of residential properties, securities and passenger cars.
It said loan demand increased significantly with higher applications from both businesses and households. Bernama
Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/27banking/Article/index_html
Published: May 21, 2012
In a statement on the Monetary and Financial Developments for March, the central bank said the level of net impaired loans improved to 1.7 per cent of net loans, due to a write-off exercise by a number of banks as part of the balance sheet strengthening exercise.
"Loan loss coverage was sustained at above 90 per cent," it added.
However, it said that in terms of retail lending rates, the average base lending rate of commercial banks remained unchanged at 6.53 per cent and interbank rates were also stable in March.
"Broad money expanded at an annual rate of 15 per cent in March and during the month, the increase in credit extended by banks to the private sector was partially offset by capital outflows," it added.
It said net financing to the private sector expanded by RM18.7 billion in March due to an increase in outstanding banking system loans and higher net issuances of private debt securities.
"There was a continued expansion in banking system loans to businesses, mainly to wholesale and retail, restaurants and hotels, transport, storage and communication and the real estate sectors," it added.
Bank Negara said loans to households expanded during the month, driven mainly by those for the purchase of residential properties, securities and passenger cars.
It said loan demand increased significantly with higher applications from both businesses and households. Bernama
Too early to revise Malaysia's economic outlook
PETALING JAYA: Although the global economy has been put on red alert again over the eurozone debt crisis, experts think it is still too early to revise their outlook for Malaysia's economy this year.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/21/business/11320686&sec=business
Published: May 21, 2012
“We are on a wait-and-see mode, although we acknowledge the renewed concern over the eurozone debt crisis triggered by the political change in Greece,” CIMB Research chief economist Lee Heng Guie told StarBiz.
“We are now waiting for the first-quarter numbers for Malaysia's economy; and probably, we will reassess our outlook in the second half of the year,” Lee explained, adding that CIMB would, at this juncture, maintain its full-year projection of a 3.8% growth in gross domestic product (GDP) for the country in 2012.
The eurozone debt crisis has flared up again in recent weeks, following a political impasse in Greece, whereby parties opposed to the austerity terms of a bailout plan made strong gains and intensified the risk of the country exiting the euro.
Greece is expected to go to the ballot box once again on June 17. The outcome is expected to determine whether Greece should remain in the common currency.
Bank Negara governor Tan Sri Zeti Akhtar Aziz, in an interview with Bloomberg last week, warned of “unimaginable” consequences for Europe if Greece were to exit the euro. She said, in the worst-case scenario, there would be a contagion effect on other countries in the region that did not deserve those kind of consequences.
International Monetary Fund managing director Christine Lagarde had also warned of “extremely expensive” consequences in the event Greece leaves the eurozone.
World Bank president Robert Zoellick echoed the same sentiment, pointing out that Greece leaving eurozone could cause damaging ripple effects reminiscent of the effects of Lehman Brothers' collapse in 2008 that saw widespread panic across the global financial markets.
Despite the uncertainties, Zeti has affirmed that Bank Negara would maintain its 2012 GDP growth forecast at 4% to 5%, as it expected robust domestic demand to drive the country's economy.
“It is still too early to revise the outlook for Malaysia,” said MIDF Research chief economist Anthony Dass, concurring that domestic spending was still holding up pretty strongly.
In addition, he said China's economy was also expected to grow healthily, albeit at a slower pace from last year, and that would continue to support intra-regional trade growth.
Dass noted that the current scenario still present a compelling case for his team to maintain their full-year forecast of a 4.8% GDP growth for Malaysia this year.
Essentially, domestic demand would be the story for Malaysia's economy this year.
Malaysia is expected to announce its first-quarter GDP growth on Wednesday. A Bloomberg survey of 31 economists puts the median estimate for the country's GDP growth for the first quarter of 2012 at 4.6%.
Credit Suisse in its report said the strong first-quarter GDP would likely be followed by a soft reading in the second quarter of the year, due to weak demand from the Western world and possibly inventory correction.
“Domestic demand, however, should remain robust for a while longer, owing to the Government's pre-election pump-priming measures and the initial effects of the Economic Transformation Programme,” it explained, maintaining its full-year GDP forecast for Malaysia at 4.8%.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/21/business/11320686&sec=business
Published: May 21, 2012
“We are on a wait-and-see mode, although we acknowledge the renewed concern over the eurozone debt crisis triggered by the political change in Greece,” CIMB Research chief economist Lee Heng Guie told StarBiz.
“We are now waiting for the first-quarter numbers for Malaysia's economy; and probably, we will reassess our outlook in the second half of the year,” Lee explained, adding that CIMB would, at this juncture, maintain its full-year projection of a 3.8% growth in gross domestic product (GDP) for the country in 2012.
The eurozone debt crisis has flared up again in recent weeks, following a political impasse in Greece, whereby parties opposed to the austerity terms of a bailout plan made strong gains and intensified the risk of the country exiting the euro.
Greece is expected to go to the ballot box once again on June 17. The outcome is expected to determine whether Greece should remain in the common currency.
Bank Negara governor Tan Sri Zeti Akhtar Aziz, in an interview with Bloomberg last week, warned of “unimaginable” consequences for Europe if Greece were to exit the euro. She said, in the worst-case scenario, there would be a contagion effect on other countries in the region that did not deserve those kind of consequences.
International Monetary Fund managing director Christine Lagarde had also warned of “extremely expensive” consequences in the event Greece leaves the eurozone.
World Bank president Robert Zoellick echoed the same sentiment, pointing out that Greece leaving eurozone could cause damaging ripple effects reminiscent of the effects of Lehman Brothers' collapse in 2008 that saw widespread panic across the global financial markets.
Despite the uncertainties, Zeti has affirmed that Bank Negara would maintain its 2012 GDP growth forecast at 4% to 5%, as it expected robust domestic demand to drive the country's economy.
“It is still too early to revise the outlook for Malaysia,” said MIDF Research chief economist Anthony Dass, concurring that domestic spending was still holding up pretty strongly.
In addition, he said China's economy was also expected to grow healthily, albeit at a slower pace from last year, and that would continue to support intra-regional trade growth.
Dass noted that the current scenario still present a compelling case for his team to maintain their full-year forecast of a 4.8% GDP growth for Malaysia this year.
Essentially, domestic demand would be the story for Malaysia's economy this year.
Malaysia is expected to announce its first-quarter GDP growth on Wednesday. A Bloomberg survey of 31 economists puts the median estimate for the country's GDP growth for the first quarter of 2012 at 4.6%.
Credit Suisse in its report said the strong first-quarter GDP would likely be followed by a soft reading in the second quarter of the year, due to weak demand from the Western world and possibly inventory correction.
“Domestic demand, however, should remain robust for a while longer, owing to the Government's pre-election pump-priming measures and the initial effects of the Economic Transformation Programme,” it explained, maintaining its full-year GDP forecast for Malaysia at 4.8%.
Masalah pinjaman kereta, silap siapa?
TIDAK tahu apa, mana dan siapa yang silap!. Meskipun sudah hampir lima bulan Garis Panduan Amalan Pembiayaan Yang Baik dikuatkuasakan oleh Bank Negara Malaysia (BNM), pelaksanaan terhadap peraturan baru itu terus dikritik.
Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/info.asp?y=2012&dt=0521&pub=Utusan_Malaysia&sec=Ekonomi&pg=ek_04.htm
Published: May 21, 2012
Kalau sebelum ini kita hanya mendengar kelantangan suara Datuk Aminar Rashid Salleh, Pengarah Urusan Perusahaan Otomobil Kedua Sdn. Bhd. dan Presiden Persatuan Pengedar Proton Edar Malaysia (Peda), Armin Baniaz Pahamin.
Baru-baru ini, Presiden Persatuan Pengimport dan Peniaga Kenderaan Melayu Malaysia (Pekema), Datuk Zainuddin Abdul Rahman juga sudah mula berdehem.
Suara mereka bersatu - mengkritik pelaksanaan garis panduan yang didakwa telah menjejaskan sektor automotif negara.
Nampaknya isu ini semakin hangat walaupun BNM menegaskan bahawa pelaksanaan peraturan baru itu sama sekali bukan untuk menjejaskan industri automotif. Sebaliknya untuk melindungi pengguna yang tidak berkemampuan daripada dibebani hutang.
Perjumpaan di antara BNM dengan persatuan-persatuan automotif dan bank sudah pun dilakukan ketika isu ini mula dibangkitkan Januari lalu.
Namun, walaupun bulan Mei semakin sampai ke penghujungnya isu ini masih belum selesai malah semakin hangat diperkatakan. Difahamkan, bukan pihak-pihak pengeluar kereta sahaja yang tidak berpuas hati, malah pengguna juga mula merungut. Merungut kerana proses kelulusan yang rumit.
Seorang peneraju industri automotif turut mempersoalkan arahan yang dikeluarkan oleh BNM kepada institusi-institusi kewangan berhubung peraturan baru itu.
Jelasnya, seandainya satu atau dua bank yang mengamalkan prosedur proses kelulusan seperti hari ini, sudah tentu 'arahan' tersebut daripada bank berkenaan. Tetapi, kalau semua bank mempunyai prosedur yang sama, siapakah yang perlu dipersalahkan?.
Mungkin andaian peneraju tersebut ada kebenarannya, sebab itu, Aminar dalam kenyataannya baru-baru ini, sanggup mencabar BNM dan institusi perbankan tempatan turun padang.
Turun padang bukan sahaja melihat dan menyelami kesukaran orang ramai untuk memiliki sebuah kereta nasional yang harganya jauh lebih murah tetapi meninjau juga longgokan kereta-kereta baru yang tidak terjual di stor-stor.
Sekiranya masalah ini berlarutan, siapakah yang harus dipersalahkan, adakah BNM kerana peraturan garis panduannya atau institusi perbankan yang mematuhi pelaksanaan garis panduan itu?.
Dalam buka Nota Kepada Perdana Menteri oleh Menteri di Jabatan Perdana Menteri, Tan Sri Nor Mohamed Yakcop ada menyebut bahawa industri pembuatan merupakan satu sektor penting yang perlu digerakkan untuk memastikan ekonomi terus berkembang. Alasannya, sektor itu memiliki rantaian nilai yang cukup besar dalam sumbangan kepada ekonomi negara.
Ia bukan sahaja membabitkan kakitangan, tetapi juga sekumpulan besar vendor, peniaga kereta, peniaga alat ganti, peniaga bahan api dan sebagainya.
Sudah tentu Aminar, Armin dan kini Zainuddin begitu bimbang akan pelaksanaan Garis Panduan Amalan Pembiayaan Yang Baik yang dilihat tidak mesra kepada industri automotif, meskipun BNM mempertahankan peraturan itu.
Kelmarin, Aminar sekali lagi meminta institusi perbankan meringankan prosedur pemprosesan kelulusan dan Zainuddin pula merayu syarat peraturan garis panduan itu dilonggarkan.
Namun, sehingga hari ini, mahupun BNM dan institusi perbankan atau pun persatuan yang dinaungi oleh bank-bank tempatan belum memberi sebarang reaksi.
Seorang pemerhati pasaran berkata, sesuatu perlu dilakukan oleh BNM dan institusi perbankan supaya garis panduan yang dilakukan dengan niat yang murni itu - mengurangkan hutang isi rumah - tidak disalahertikan.
BNM, selaku 'arkitek' kepada garis panduan ini tidak boleh hanya mengambil sikap diam seribu bahasa kerana isu ini adalah isu nasional dan membabitkan kepentingan banyak pihak.
''BNM perlu berbuat sesuatu kerana sudah tentu tidak wajar masalah semudah ini pun akan diselesaikan melalui campur tangan Perdana Menteri,'' kata pemerhati pasaran itu.
Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/info.asp?y=2012&dt=0521&pub=Utusan_Malaysia&sec=Ekonomi&pg=ek_04.htm
Published: May 21, 2012
Kalau sebelum ini kita hanya mendengar kelantangan suara Datuk Aminar Rashid Salleh, Pengarah Urusan Perusahaan Otomobil Kedua Sdn. Bhd. dan Presiden Persatuan Pengedar Proton Edar Malaysia (Peda), Armin Baniaz Pahamin.
Baru-baru ini, Presiden Persatuan Pengimport dan Peniaga Kenderaan Melayu Malaysia (Pekema), Datuk Zainuddin Abdul Rahman juga sudah mula berdehem.
Suara mereka bersatu - mengkritik pelaksanaan garis panduan yang didakwa telah menjejaskan sektor automotif negara.
Nampaknya isu ini semakin hangat walaupun BNM menegaskan bahawa pelaksanaan peraturan baru itu sama sekali bukan untuk menjejaskan industri automotif. Sebaliknya untuk melindungi pengguna yang tidak berkemampuan daripada dibebani hutang.
Perjumpaan di antara BNM dengan persatuan-persatuan automotif dan bank sudah pun dilakukan ketika isu ini mula dibangkitkan Januari lalu.
Namun, walaupun bulan Mei semakin sampai ke penghujungnya isu ini masih belum selesai malah semakin hangat diperkatakan. Difahamkan, bukan pihak-pihak pengeluar kereta sahaja yang tidak berpuas hati, malah pengguna juga mula merungut. Merungut kerana proses kelulusan yang rumit.
Seorang peneraju industri automotif turut mempersoalkan arahan yang dikeluarkan oleh BNM kepada institusi-institusi kewangan berhubung peraturan baru itu.
Jelasnya, seandainya satu atau dua bank yang mengamalkan prosedur proses kelulusan seperti hari ini, sudah tentu 'arahan' tersebut daripada bank berkenaan. Tetapi, kalau semua bank mempunyai prosedur yang sama, siapakah yang perlu dipersalahkan?.
Mungkin andaian peneraju tersebut ada kebenarannya, sebab itu, Aminar dalam kenyataannya baru-baru ini, sanggup mencabar BNM dan institusi perbankan tempatan turun padang.
Turun padang bukan sahaja melihat dan menyelami kesukaran orang ramai untuk memiliki sebuah kereta nasional yang harganya jauh lebih murah tetapi meninjau juga longgokan kereta-kereta baru yang tidak terjual di stor-stor.
Sekiranya masalah ini berlarutan, siapakah yang harus dipersalahkan, adakah BNM kerana peraturan garis panduannya atau institusi perbankan yang mematuhi pelaksanaan garis panduan itu?.
Dalam buka Nota Kepada Perdana Menteri oleh Menteri di Jabatan Perdana Menteri, Tan Sri Nor Mohamed Yakcop ada menyebut bahawa industri pembuatan merupakan satu sektor penting yang perlu digerakkan untuk memastikan ekonomi terus berkembang. Alasannya, sektor itu memiliki rantaian nilai yang cukup besar dalam sumbangan kepada ekonomi negara.
Ia bukan sahaja membabitkan kakitangan, tetapi juga sekumpulan besar vendor, peniaga kereta, peniaga alat ganti, peniaga bahan api dan sebagainya.
Sudah tentu Aminar, Armin dan kini Zainuddin begitu bimbang akan pelaksanaan Garis Panduan Amalan Pembiayaan Yang Baik yang dilihat tidak mesra kepada industri automotif, meskipun BNM mempertahankan peraturan itu.
Kelmarin, Aminar sekali lagi meminta institusi perbankan meringankan prosedur pemprosesan kelulusan dan Zainuddin pula merayu syarat peraturan garis panduan itu dilonggarkan.
Namun, sehingga hari ini, mahupun BNM dan institusi perbankan atau pun persatuan yang dinaungi oleh bank-bank tempatan belum memberi sebarang reaksi.
Seorang pemerhati pasaran berkata, sesuatu perlu dilakukan oleh BNM dan institusi perbankan supaya garis panduan yang dilakukan dengan niat yang murni itu - mengurangkan hutang isi rumah - tidak disalahertikan.
BNM, selaku 'arkitek' kepada garis panduan ini tidak boleh hanya mengambil sikap diam seribu bahasa kerana isu ini adalah isu nasional dan membabitkan kepentingan banyak pihak.
''BNM perlu berbuat sesuatu kerana sudah tentu tidak wajar masalah semudah ini pun akan diselesaikan melalui campur tangan Perdana Menteri,'' kata pemerhati pasaran itu.
Friday, May 18, 2012
Bank Negara signs MoU with Turkey central bank
KUALA LUMPUR: Bank Negara has signed a memorandum of understanding (MoU) with Central Bank of Turkey to foster strategic cooperation between the two countries.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/18/business/11312827&sec=business
Published: May 18, 2012
According to Bank Negara, the cooperation involved are in promotion bilateral investment and liquidity arrangements, both aimed at supporting the development of the financial services sector of both countries, and to enhance economic and financial linkages between the two countries through bilateral trade and investment.
The MoU was signed by Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz and Central Bank of Turkey governor Dr Erdem Bascı.
“This will also include building the required financial infrastructure, payments and settlements arrangements to facilitate bilateral trade in the respective local currencies of the two countries, Bank Negara said in a statement.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/18/business/11312827&sec=business
Published: May 18, 2012
According to Bank Negara, the cooperation involved are in promotion bilateral investment and liquidity arrangements, both aimed at supporting the development of the financial services sector of both countries, and to enhance economic and financial linkages between the two countries through bilateral trade and investment.
The MoU was signed by Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz and Central Bank of Turkey governor Dr Erdem Bascı.
“This will also include building the required financial infrastructure, payments and settlements arrangements to facilitate bilateral trade in the respective local currencies of the two countries, Bank Negara said in a statement.
Jalin kerjasama strategik
BANK Negara Malaysia memeterai Memorandum Persefahaman (MoU) dengan
Bank Pusat Republik Turki bagi menjalinkan kerjasama strategik antara
kedua-dua negara.
Source from (Berita Harian): http://www.bharian.com.my/bharian/articles/Jalinkerjasamastrategik/Article
Published: May 18, 2012
ZETI dan Dr Erdem selepas majlis memeterai memorandum
persefahaman di Istanbul, Turki, kelmarin.
MoU itu juga menyasarkan untuk menggalakkan pelaburan dua hala dan pengaturan mudah tunai bagi menyokong pembangunan sektor perkhidmatan kewangan dan meningkatkan hubungan antara kedua-dua negara.
Ia termasuk mewujudkan infrastruktur kewangan serta pengaturan pembayaran dan penyelesaian yang diperlukan bagi memudahkan perdagangan dua hala dalam mata wang negara masing-masing.
"Pelaksanaan MoU itu akan merintis jalan ke arah kerjasama yang lebih erat dalam meningkatkan saling hubungan antara kedua-dua negara," kata bank pusat itu dalam kenyataannya di Kuala Lumpur, semalam.
MoU itu ditandatangani oleh Gabenor Bank Negara, Tan Sri Dr Zeti Akhtar Aziz dan Gabenor Bank Pusat Republik Turki, Dr Erdem Basçi di Istanbul, kelmarin.
Source from (Berita Harian): http://www.bharian.com.my/bharian/articles/Jalinkerjasamastrategik/Article
Published: May 18, 2012
ZETI dan Dr Erdem selepas majlis memeterai memorandum
persefahaman di Istanbul, Turki, kelmarin.
MoU itu juga menyasarkan untuk menggalakkan pelaburan dua hala dan pengaturan mudah tunai bagi menyokong pembangunan sektor perkhidmatan kewangan dan meningkatkan hubungan antara kedua-dua negara.
Ia termasuk mewujudkan infrastruktur kewangan serta pengaturan pembayaran dan penyelesaian yang diperlukan bagi memudahkan perdagangan dua hala dalam mata wang negara masing-masing.
"Pelaksanaan MoU itu akan merintis jalan ke arah kerjasama yang lebih erat dalam meningkatkan saling hubungan antara kedua-dua negara," kata bank pusat itu dalam kenyataannya di Kuala Lumpur, semalam.
MoU itu ditandatangani oleh Gabenor Bank Negara, Tan Sri Dr Zeti Akhtar Aziz dan Gabenor Bank Pusat Republik Turki, Dr Erdem Basçi di Istanbul, kelmarin.
Penubuhan bank Islam mega Malaysia diteruskan
TURKI 17 Mei - Proses memberi lesen kepada bank Islam mega akan mengambil sedikit masa berbanding memberikan lesen kepada institusi asing sedia ada kerana ia membabitkan penubuhan entiti perbankan baru, kata Gabenor Bank Negara Malaysia (BNM), Tan Sri Zeti Akhtar Aziz.
Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/info.asp?y=2012&dt=0518&pub=Utusan_Malaysia&sec=Ekonomi&pg=ek_02.htm
Published: May 18, 2012
'Pemberian lesen kepada entiti baru (bank Islam mega) lebih panjang berbanding mengeluarkan lesen bagi institusi asing yang sudah wujud dalam pasaran,'' katanya.
Zeti berkata demikian bagi menjawab mengenai kelewatan penubuhan bank Islam mega yang bakal diwujudkan di Malaysia.
Bagaimanapun katanya, penubuhan bank Islam mega itu tetap diteruskan kerana ia merupakan perancangan kerajaan.
Sementara itu, ketika ditanya mengenai terbitan sukuk dalam pelbagai mata wang di Malaysia, Zeti berkata, ia boleh dilakukan terutama dengan liberalisasi dalam peraturan untuk memberikan fleksibiliti kepada tukaran asing.
''Ini telah menyebabkan beberapa denominasi sukuk dalam pelbagai mata wang. Kita telah mempunyai sukuk diterbitkan dalam mata wang Singapura.
''Kami juga merupakan negara pertama yang menerbitkan sukuk dalam mata wang renminbi.
"Ia merupakan perkembangan yang mengujakan,'' jelasnya.
Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/info.asp?y=2012&dt=0518&pub=Utusan_Malaysia&sec=Ekonomi&pg=ek_02.htm
Published: May 18, 2012
'Pemberian lesen kepada entiti baru (bank Islam mega) lebih panjang berbanding mengeluarkan lesen bagi institusi asing yang sudah wujud dalam pasaran,'' katanya.
Zeti berkata demikian bagi menjawab mengenai kelewatan penubuhan bank Islam mega yang bakal diwujudkan di Malaysia.
Bagaimanapun katanya, penubuhan bank Islam mega itu tetap diteruskan kerana ia merupakan perancangan kerajaan.
Sementara itu, ketika ditanya mengenai terbitan sukuk dalam pelbagai mata wang di Malaysia, Zeti berkata, ia boleh dilakukan terutama dengan liberalisasi dalam peraturan untuk memberikan fleksibiliti kepada tukaran asing.
''Ini telah menyebabkan beberapa denominasi sukuk dalam pelbagai mata wang. Kita telah mempunyai sukuk diterbitkan dalam mata wang Singapura.
''Kami juga merupakan negara pertama yang menerbitkan sukuk dalam mata wang renminbi.
"Ia merupakan perkembangan yang mengujakan,'' jelasnya.
Malaysia di landasan kukuh capai inflasi tiga peratus
MALAYSIA berada di landasan kukuh untuk mencapai kadar inflasi sederhana antara dua hingga tiga peratus bagi seluruh tahun ini, kata Gabenor Bank Negara Malaysia, Tan Sri Dr Zeti Akhtar Aziz.
Source from (Berita Harian): http://www.bharian.com.my/bharian/articles/Malaysiadilandasankukuhcapaiinflasitigaperatus/Article
Published: May 18, 2012
Beliau menegaskan, satu-satunya risiko yang boleh melonjakkan kadar itu lebih tinggi ialah peningkatan harga komoditi.
“Jika harga tenaga meningkat secara mendadak seperti yang berlaku pada 2008, maka kita akan melihat harga lebih tinggi. Tetapi jika keadaan itu tidak berlaku, kadar inflasi akan terus sederhana,” katanya dalam satu temubual dengan Bloomberg Television di Istanbul, Turki.
Jika harga tenaga meningkat secara mendadak seperti yang berlaku pada 2008, maka kita akan melihat harga lebih tinggi. Tetapi jika keadaan itu tidak berlaku, kadar inflasi akan terus sederhana. - Dr Zeti Akhtar Aziz, Gabenor Bank Negara
Zeti berkata, berdasarkan kepada persekitaran inflasi yang sederhana ketika ini, bank pusat itu tidak melihat keperluan untuk mengubah kadar faedah.
Beliau menjelaskan, penentuan hala tuju kadar faedah adalah bergantung kepada tinjauan inflasi dan pertumbuhan, dan pihaknya menilai perkara itu secara berhati-hati.
“Ketika ini, kami (Malaysia) mempunyai kadar inflasi sederhana. Kami juga mempunyai kadar faedah yang akomodatif dalam erti kata, ia tidak menyekat aktiviti pinjaman dan ia menyokong pertumbuhan ekonomi secara keseluruhan,” katanya.
Mengenai sama ada wujud keperluan untuk menyemak unjuran pertumbuhan ekonomi bagi tahun ini, Zeti berkata buat masa ini unjurannya kekal.
Katanya, unjuran pertumbuhan antara empat hingga lima peratus tahun itu akan didorong permintaan domestik dan pihaknya sudah mengambil kira pertumbuhan perlahan eksport.
Mengenai terbitan sukuk dalam mata wang asing di Malaysia, Zeti berkata fleksibiliti dalam peraturan pentadbiran pertukaran wang asing ketika ini mendorong penerbitan beberapa sukuk dalam denominasi mata wang yang berbeza-beza.
“Kami mempunyai sukuk yang diterbitkan dalam dolar Singapura dan kami juga mempunyai sukuk dalam renminbi pertama di dunia. Ini adalah satu perkembangan yang sangat menarik,” jelasnya.
Mengenai kemungkinan terbitan sukuk dalam denominasi euro, Zeti berkata ia adalah sesuatu yang akan dilaksanakan pihaknya pada masa depan kerana mata wang itu adalah mata wang rizab antarabangsa yang penting.
Beliau percaya euro akan terus menjadi mata wang rizab antarabangsa yang penting jika ia tidak terjejas dengan krisis hutang Eropah.
Ditanya mengenai kelewatan dalam penubuhan bank Islam mega bagi mengendalikan transaksi antarabangsa secara besar-besaran, Zeti menjelaskan proses mengeluarkan lesen kepada entiti baru adalah lebih lama berbanding proses mengeluarkan lesen kepada institusi asing sedia ada di dunia ini.
Source from (Berita Harian): http://www.bharian.com.my/bharian/articles/Malaysiadilandasankukuhcapaiinflasitigaperatus/Article
Published: May 18, 2012
Beliau menegaskan, satu-satunya risiko yang boleh melonjakkan kadar itu lebih tinggi ialah peningkatan harga komoditi.
“Jika harga tenaga meningkat secara mendadak seperti yang berlaku pada 2008, maka kita akan melihat harga lebih tinggi. Tetapi jika keadaan itu tidak berlaku, kadar inflasi akan terus sederhana,” katanya dalam satu temubual dengan Bloomberg Television di Istanbul, Turki.
Jika harga tenaga meningkat secara mendadak seperti yang berlaku pada 2008, maka kita akan melihat harga lebih tinggi. Tetapi jika keadaan itu tidak berlaku, kadar inflasi akan terus sederhana. - Dr Zeti Akhtar Aziz, Gabenor Bank Negara
Zeti berkata, berdasarkan kepada persekitaran inflasi yang sederhana ketika ini, bank pusat itu tidak melihat keperluan untuk mengubah kadar faedah.
Beliau menjelaskan, penentuan hala tuju kadar faedah adalah bergantung kepada tinjauan inflasi dan pertumbuhan, dan pihaknya menilai perkara itu secara berhati-hati.
“Ketika ini, kami (Malaysia) mempunyai kadar inflasi sederhana. Kami juga mempunyai kadar faedah yang akomodatif dalam erti kata, ia tidak menyekat aktiviti pinjaman dan ia menyokong pertumbuhan ekonomi secara keseluruhan,” katanya.
Mengenai sama ada wujud keperluan untuk menyemak unjuran pertumbuhan ekonomi bagi tahun ini, Zeti berkata buat masa ini unjurannya kekal.
Katanya, unjuran pertumbuhan antara empat hingga lima peratus tahun itu akan didorong permintaan domestik dan pihaknya sudah mengambil kira pertumbuhan perlahan eksport.
Mengenai terbitan sukuk dalam mata wang asing di Malaysia, Zeti berkata fleksibiliti dalam peraturan pentadbiran pertukaran wang asing ketika ini mendorong penerbitan beberapa sukuk dalam denominasi mata wang yang berbeza-beza.
“Kami mempunyai sukuk yang diterbitkan dalam dolar Singapura dan kami juga mempunyai sukuk dalam renminbi pertama di dunia. Ini adalah satu perkembangan yang sangat menarik,” jelasnya.
Mengenai kemungkinan terbitan sukuk dalam denominasi euro, Zeti berkata ia adalah sesuatu yang akan dilaksanakan pihaknya pada masa depan kerana mata wang itu adalah mata wang rizab antarabangsa yang penting.
Beliau percaya euro akan terus menjadi mata wang rizab antarabangsa yang penting jika ia tidak terjejas dengan krisis hutang Eropah.
Ditanya mengenai kelewatan dalam penubuhan bank Islam mega bagi mengendalikan transaksi antarabangsa secara besar-besaran, Zeti menjelaskan proses mengeluarkan lesen kepada entiti baru adalah lebih lama berbanding proses mengeluarkan lesen kepada institusi asing sedia ada di dunia ini.
Kadar faedah semasa akomodatif
KUALA LUMPUR 17 Mei - Gabenor Bank Negara Malaysia (BNM), Tan Sri Dr. Zeti Akhtar Aziz berkata, polisi kadar faedah ditentukan berdasarkan kepada tinjauan inflasi dan pertumbuhan ekonomi.
Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/info.asp?y=2012&dt=0518&pub=Utusan_Malaysia&sec=Ekonomi&pg=ek_01.htm
Published: May 18, 2012
Menurut beliau, tinjauan itu perlu diberi penilaian dengan berhati-hati kerana ia menentukan hala tuju masa depan.
''Kita tidak boleh memberi tindak balas secara berlebihan dan terlebih dalam membuat penyelarasan kerana ia boleh menyebabkan ekonomi mengalami penyelarasan berlebihan,'' katanya di Istanbul, Turki.
Jelas Zeti, pada masa ini kadar inflasi adalah sederhana dan kadar faedah pula dalam kedudukan akomodatif.
''Akomodatif dalam aspek tiada sekatan dalam aktiviti pinjaman dan menyokong keseluruhan pertumbuhan, katanya. - Bloomberg
Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/info.asp?y=2012&dt=0518&pub=Utusan_Malaysia&sec=Ekonomi&pg=ek_01.htm
Published: May 18, 2012
Menurut beliau, tinjauan itu perlu diberi penilaian dengan berhati-hati kerana ia menentukan hala tuju masa depan.
''Kita tidak boleh memberi tindak balas secara berlebihan dan terlebih dalam membuat penyelarasan kerana ia boleh menyebabkan ekonomi mengalami penyelarasan berlebihan,'' katanya di Istanbul, Turki.
Jelas Zeti, pada masa ini kadar inflasi adalah sederhana dan kadar faedah pula dalam kedudukan akomodatif.
''Akomodatif dalam aspek tiada sekatan dalam aktiviti pinjaman dan menyokong keseluruhan pertumbuhan, katanya. - Bloomberg
Thursday, May 17, 2012
Greek Euro Exit Would Risk Asia Crisis-Style Rout, Zeti Says
A Greek exit from the euro could cause contagion comparable to the Asian financial crisis, according to Malaysia’s central bank Governor Zeti Akhtar Aziz, who had first-hand experience of that turmoil.
Source from (Bloomberg): http://www.bloomberg.com/news/2012-05-17/zeti-says-greek-euro-exit-would-have-unimaginable-consequences.html
Published: May 17, 2012
Zeti Akhtar Aziz, governor of Bank Negara Malaysia,
said measures to prevent a Greek departure from the
common currency should also be accompanied by a
plan to boost growth in the region. Photographer:
Dimas Ardian/Bloomberg
Malaysian Central Bank's Zeti on Europe Woes (May 17)
“The worst-case scenario is what we saw in Asia,” Zeti, 64, said in an interview with Bloomberg Television in Istanbul yesterday. “When one economy collapses, then the market usually moves on to focus on the next one, then there will be a contagion that will affect different countries that probably don’t deserve those kinds of consequences.”
European leaders are now openly talking about a possible Greek euro exit after attempts to form a ruling coalition in Athens broke down on May 15. The debt crisis in the region sent Spain’s 10-year bond to a five-month high of 6.5 percent yesterday and Italy’s 10-year bond yield rose to as much as 6 percent, the highest since Jan. 30.
“The consequences for that to happen I believe will be unimaginable for Europe, therefore a solution has to be found to address the situation,” Zeti said. “I believe that such a solution can be found.”
Zeti was assistant central bank governor responsible for economics, reserves management, money market and foreign exchange operations when Thailand devalued the baht on July 2, 1997. The ringgit fell 89 percent in the next six months as regional currencies plunged and investors fled the region, pushing Asian economies into recession and prompting Thailand, Indonesia and South Korea to turn to International Monetary Fund bailouts. It was Zeti who announced Malaysia’s capital controls in 1998 as acting governor, drawing the ire of the IMF.
First Woman
Zeti, the first Malaysian woman to become central bank governor, obtained a doctorate in economics from the University of Pennsylvania in 1978, with a thesis focusing on international capital flows and its implications for macroeconomic policies.
Zeti Akhtar Aziz, governor of Bank Negara
Malaysia. Photographer: Dimas Ardian/Bloomberg
Malaysia will stick to its official economic forecast for a 4 percent to 5 percent expansion this year as it has already priced in prospects of “significantly” lower export growth, the governor said. Inflation in Malaysia is moderating and the only risk is commodity prices, she said.
Interest rates aren’t restricting borrowing activities and are supporting overall growth, Zeti said. “At this point in time, I believe that unless inflation does begin to again rise, it does not merit consideration of raising rates.”
Bank Negara Malaysia kept the benchmark overnight policy rate unchanged at 3 percent for a sixth straight meeting on May 11. The country joined Indonesia and South Korea in holding borrowing costs steady this month to bolster growth as Europe’s sovereign-debt crisis threatens to escalate.
Boosting Growth
Measures to prevent a Greek departure from the common currency should also be accompanied by a plan to boost growth in the region, Zeti said. “Structural adjustments” being imposed in Greece and on other economies such as fiscal austerity need to be done gradually, she said.
Malaysia is increasing spending on roads and railways to sustain growth of as much as 5 percent this year, ahead of a nationwide election that must be held by early 2013. Prime Minister Najib Razak has also raised civil-servant salaries and pensions, waived school fees and boosted handouts for the poor.
The $238 billion economy expanded 5.2 percent in the fourth quarter from a year earlier, slowing from a 5.8 percent pace in the previous three months. Bank Negara is due to release first- quarter gross domestic product data on May 23.
Signs of weakening demand for Asian goods have emerged, with Malaysia, Thailand and the Philippines all reporting export declines. Malaysia’s overseas sales unexpectedly fell in March as manufacturers such as Unisem (M) Bhd. and Malaysian Pacific Industries Bhd. (MPI) shipped fewer electrical and electronics products, bolstering the case for the central bank to hold off from interest-rate increases.
The central bank predicted in March inflation may slow to a range of 2.5 percent to 3 percent this year from 3.2 percent in 2011. Price gains are easing and growth is within expectations, Zeti said May 2, adding that policy makers shouldn’t rush to tighten their monetary stance.
To contact the reporters on this story: Haslinda Amin in Singapore at hamin1@bloomberg.net; Elffie Chew in Kuala Lumpur at echew16@bloomberg.net
Source from (Bloomberg): http://www.bloomberg.com/news/2012-05-17/zeti-says-greek-euro-exit-would-have-unimaginable-consequences.html
Published: May 17, 2012
Zeti Akhtar Aziz, governor of Bank Negara Malaysia,
said measures to prevent a Greek departure from the
common currency should also be accompanied by a
plan to boost growth in the region. Photographer:
Dimas Ardian/Bloomberg
Malaysian Central Bank's Zeti on Europe Woes (May 17)
“The worst-case scenario is what we saw in Asia,” Zeti, 64, said in an interview with Bloomberg Television in Istanbul yesterday. “When one economy collapses, then the market usually moves on to focus on the next one, then there will be a contagion that will affect different countries that probably don’t deserve those kinds of consequences.”
European leaders are now openly talking about a possible Greek euro exit after attempts to form a ruling coalition in Athens broke down on May 15. The debt crisis in the region sent Spain’s 10-year bond to a five-month high of 6.5 percent yesterday and Italy’s 10-year bond yield rose to as much as 6 percent, the highest since Jan. 30.
“The consequences for that to happen I believe will be unimaginable for Europe, therefore a solution has to be found to address the situation,” Zeti said. “I believe that such a solution can be found.”
Zeti was assistant central bank governor responsible for economics, reserves management, money market and foreign exchange operations when Thailand devalued the baht on July 2, 1997. The ringgit fell 89 percent in the next six months as regional currencies plunged and investors fled the region, pushing Asian economies into recession and prompting Thailand, Indonesia and South Korea to turn to International Monetary Fund bailouts. It was Zeti who announced Malaysia’s capital controls in 1998 as acting governor, drawing the ire of the IMF.
First Woman
Zeti, the first Malaysian woman to become central bank governor, obtained a doctorate in economics from the University of Pennsylvania in 1978, with a thesis focusing on international capital flows and its implications for macroeconomic policies.
Zeti Akhtar Aziz, governor of Bank Negara
Malaysia. Photographer: Dimas Ardian/Bloomberg
Malaysia will stick to its official economic forecast for a 4 percent to 5 percent expansion this year as it has already priced in prospects of “significantly” lower export growth, the governor said. Inflation in Malaysia is moderating and the only risk is commodity prices, she said.
Interest rates aren’t restricting borrowing activities and are supporting overall growth, Zeti said. “At this point in time, I believe that unless inflation does begin to again rise, it does not merit consideration of raising rates.”
Bank Negara Malaysia kept the benchmark overnight policy rate unchanged at 3 percent for a sixth straight meeting on May 11. The country joined Indonesia and South Korea in holding borrowing costs steady this month to bolster growth as Europe’s sovereign-debt crisis threatens to escalate.
Boosting Growth
Measures to prevent a Greek departure from the common currency should also be accompanied by a plan to boost growth in the region, Zeti said. “Structural adjustments” being imposed in Greece and on other economies such as fiscal austerity need to be done gradually, she said.
Malaysia is increasing spending on roads and railways to sustain growth of as much as 5 percent this year, ahead of a nationwide election that must be held by early 2013. Prime Minister Najib Razak has also raised civil-servant salaries and pensions, waived school fees and boosted handouts for the poor.
The $238 billion economy expanded 5.2 percent in the fourth quarter from a year earlier, slowing from a 5.8 percent pace in the previous three months. Bank Negara is due to release first- quarter gross domestic product data on May 23.
Signs of weakening demand for Asian goods have emerged, with Malaysia, Thailand and the Philippines all reporting export declines. Malaysia’s overseas sales unexpectedly fell in March as manufacturers such as Unisem (M) Bhd. and Malaysian Pacific Industries Bhd. (MPI) shipped fewer electrical and electronics products, bolstering the case for the central bank to hold off from interest-rate increases.
The central bank predicted in March inflation may slow to a range of 2.5 percent to 3 percent this year from 3.2 percent in 2011. Price gains are easing and growth is within expectations, Zeti said May 2, adding that policy makers shouldn’t rush to tighten their monetary stance.
To contact the reporters on this story: Haslinda Amin in Singapore at hamin1@bloomberg.net; Elffie Chew in Kuala Lumpur at echew16@bloomberg.net
Tuesday, May 15, 2012
Asia pertimbang terbit bon bersama
MALAYSIA dan negara Asia lain sedang menimbang mengadakan pakatan untuk
menerbitkan bon secara bersama bagi menstabilkan iklim ekonomi serantau,
sekali gus mengecilkan kesan kemuraman ekonomi akibat krisis yang
berlaku di Eropah dan Amerika Syarikat (AS).
Source from (Harian Metro): http://www.hmetro.com.my/articles/Asiapertimbangterbitbonbersama/Article
Published: May 15, 2012
KERJASAMA...Dr Zeti (tengah) bersalam dengan Choongsoo selepas mesyuarat, semalam.
Perkara itu dibincangkan dalam Mesyuarat Lembaga Kestabilan Kewangan (FSB) Kumpulan Perundingan Serantau (RCG) Asia di Kuala Lumpur, semalam.
Gabenor Bank Negara, Tan Sri Dr Zeti Akhtar Aziz berkata, langkah itu dikenal pasti antara jalan yang mampu diambil untuk menangani keadaan ekonomi dunia ketika ini.
“Sebelum ini, banyak kalangan negara Asia yang mengambil inisiatif menerbitkan bon domestik dan ia terbukti berjaya,” katanya pada sidang media selepas mempengerusikan mesyuarat itu, semalam.
Dr Zeti ialah wakil Malaysia ke RCG Asia dan menjadi pengerusi bersama dengan Gabenor Bank of Korea, Kim Choongsoo.
Mengulas lanjut, beliau berkata, meskipun kebanyakan negara Asia turut terkena tempias kemelesetan ekonomi, ia tidak seteruk mana berikutan pelbagai langkah proaktif diambil.
Source from (Harian Metro): http://www.hmetro.com.my/articles/Asiapertimbangterbitbonbersama/Article
Published: May 15, 2012
KERJASAMA...Dr Zeti (tengah) bersalam dengan Choongsoo selepas mesyuarat, semalam.
Perkara itu dibincangkan dalam Mesyuarat Lembaga Kestabilan Kewangan (FSB) Kumpulan Perundingan Serantau (RCG) Asia di Kuala Lumpur, semalam.
Gabenor Bank Negara, Tan Sri Dr Zeti Akhtar Aziz berkata, langkah itu dikenal pasti antara jalan yang mampu diambil untuk menangani keadaan ekonomi dunia ketika ini.
“Sebelum ini, banyak kalangan negara Asia yang mengambil inisiatif menerbitkan bon domestik dan ia terbukti berjaya,” katanya pada sidang media selepas mempengerusikan mesyuarat itu, semalam.
Dr Zeti ialah wakil Malaysia ke RCG Asia dan menjadi pengerusi bersama dengan Gabenor Bank of Korea, Kim Choongsoo.
Mengulas lanjut, beliau berkata, meskipun kebanyakan negara Asia turut terkena tempias kemelesetan ekonomi, ia tidak seteruk mana berikutan pelbagai langkah proaktif diambil.
Monday, May 14, 2012
Asia In Better Position To Face Global Volatility - Zeti
KUALA LUMPUR, 14 MAY 2012 (Malaysian Reserve) - Asian financial institutions are in a better position to face rising volatility in the global financial market, Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz said yesterday.
Source from (Bernama): http://www.bernama.com/bernama/v6/newsbusiness.php?id=666100
Published: May 14, 2012
She said this was due to them having more developed financial systems and greater resilience in their domestic economies.
"Yes, we are affected but we are in a better position to cope with this increased volatility," she told reporters after the second meeting of the Financial Stability Board (FSB) Regional Consultative Group for Asia in Kuala Lumpur.
She said some buffers had been built and the financial reforms that took place in recent decades had provided a tremendous pay-off.
"Our macroeconomic conditions are sound and we are still experiencing growth. While our growth may be moderate but it is a reasonable pace of growth given this more difficult environment," she said.
The central bank governor was responding to a question on how the Asian financial system can cushion the impact of rising volatility in global market.
When asked about the possibility of the deleveraging exercise by European banks having an impact on the Asian financial system, Dr Zeti said the general consensus between Asian central banks is that there would be varying degrees of impact.
"It had limited impact on financing. Well, there are some jurisdictions where the dollar liquidity would he affected, but generally for domestic financial institutions, credit growth will continue."
"Domestic, as well as foreign financial institutions in our jurisdiction, and financial markets such as bond and equity markets which are more developed now, provide continued access to financing," she added.
According to the International Monetary Fund in its Global Financial Stability report released recently, European banks are likely to reduce their balance sheets by US$2.6 trillion (RM8.02 trillion) over the next 18 months, and this could jeopardise financial stability and economic growth in Europe and beyond.
Dr Zeti said most Asian bond markets are more developed now and have successfully reduced the degree of their vulnerability.
"One area, which especially the Asean and East Asian economies have been working on, is developing the regional bond market," she added.
On whether the rising global financial instability can stop product innovation in Islamic finance, she said the Islamic financial system does not operate in isolation.
"Therefore, when there's an economic slowdown or financial market downward adjustment, it will have an implication on the industry."
"However, it will not curtail product innovation activities in lslamic finance. This follows the implementation of a Shariah framework that oversees and encourages product innovation activities in the industry," said Dr Zeti.
At their meeting yesterday, members of the FSB Regional Consultative Group for the Asia discussed issues relating to vulnerabilities and regional financial stability, particularly the implications on the macroeconomy, markets and funding liquidity arising from the deleveraging of European financial institutions.
The meeting was co-chaired by the Bank of Korea governor Kim Choong Soo and Dr Zeti.
Apart from Malaysia, the membership also includes financial authorities from Australia, Cambodia, China, Hong Kong, India, Indonesia, Japan, South Korea, Thailand and Vietnam.
Source from (Bernama): http://www.bernama.com/bernama/v6/newsbusiness.php?id=666100
Published: May 14, 2012
She said this was due to them having more developed financial systems and greater resilience in their domestic economies.
"Yes, we are affected but we are in a better position to cope with this increased volatility," she told reporters after the second meeting of the Financial Stability Board (FSB) Regional Consultative Group for Asia in Kuala Lumpur.
She said some buffers had been built and the financial reforms that took place in recent decades had provided a tremendous pay-off.
"Our macroeconomic conditions are sound and we are still experiencing growth. While our growth may be moderate but it is a reasonable pace of growth given this more difficult environment," she said.
The central bank governor was responding to a question on how the Asian financial system can cushion the impact of rising volatility in global market.
When asked about the possibility of the deleveraging exercise by European banks having an impact on the Asian financial system, Dr Zeti said the general consensus between Asian central banks is that there would be varying degrees of impact.
"It had limited impact on financing. Well, there are some jurisdictions where the dollar liquidity would he affected, but generally for domestic financial institutions, credit growth will continue."
"Domestic, as well as foreign financial institutions in our jurisdiction, and financial markets such as bond and equity markets which are more developed now, provide continued access to financing," she added.
According to the International Monetary Fund in its Global Financial Stability report released recently, European banks are likely to reduce their balance sheets by US$2.6 trillion (RM8.02 trillion) over the next 18 months, and this could jeopardise financial stability and economic growth in Europe and beyond.
Dr Zeti said most Asian bond markets are more developed now and have successfully reduced the degree of their vulnerability.
"One area, which especially the Asean and East Asian economies have been working on, is developing the regional bond market," she added.
On whether the rising global financial instability can stop product innovation in Islamic finance, she said the Islamic financial system does not operate in isolation.
"Therefore, when there's an economic slowdown or financial market downward adjustment, it will have an implication on the industry."
"However, it will not curtail product innovation activities in lslamic finance. This follows the implementation of a Shariah framework that oversees and encourages product innovation activities in the industry," said Dr Zeti.
At their meeting yesterday, members of the FSB Regional Consultative Group for the Asia discussed issues relating to vulnerabilities and regional financial stability, particularly the implications on the macroeconomy, markets and funding liquidity arising from the deleveraging of European financial institutions.
The meeting was co-chaired by the Bank of Korea governor Kim Choong Soo and Dr Zeti.
Apart from Malaysia, the membership also includes financial authorities from Australia, Cambodia, China, Hong Kong, India, Indonesia, Japan, South Korea, Thailand and Vietnam.
PEKEMA rayu longgar syarat baru pinjaman sewa beli kereta
KOTA KINABALU - Persatuan Pengimport dan Peniaga Kenderaan Melayu
Malaysia (PEKEMA) merayu kerajaan Persekutuan, terutama Bank Negara
Maqlaysia (BNM) supaya melonggarkan sedikit syarat baharu pinjaman sewa
beli kereta yang menurut mereka telah menjejaskan jualan kereta import
dan kereta yang dipasang di negara ini.
Source from (Sinar Online): http://www.sinarharian.com.my/bisnes/pekema-rayu-longgar-syarat-baru-pinjaman-sewa-beli-kereta-1.47843
Published: May 15, 2012
Source from (Sinar Online): http://www.sinarharian.com.my/bisnes/pekema-rayu-bnm-longgarkan-syarat-1.48066
Published: May 14, 2012
Presiden PEKEMA Datuk Zainuddin Abdul Rahman berkata pelonggaran syarat itu penting bagi memastikan industri automatif negara terus berkembang.
"Kita jangka industri automatif lembab tahun ini kerana dasar sekatan pinjaman yang begitu ketat oleh BNM. Kita juga jangka pasaran kereta (import) akan menurun sekitar 30 peratus untuk tahun ini," katanya kepada pemberita selepas menghadiri Majlis Makan Malam PEKEMA Sabah dan Sumbangan Amal Yayasan PEKEMA di sini malam tadi.
Mengikut statistik jumlah kereta yang diimport tahun lepas mencecah angka 610,000 manakala jumlah kereta import yang tidak dapat dijual ialah sekitar 15,000, katanya.
Tahun ini, Zainuddin berkata PEKEMA menyasarkan jumlah kereta yang diimport sebanyak 615,000 meski pun dalam keadaan ekonomi yang tidak menentu.
"Walau pun kereta import ada pasaran sendiri, namun oleh kerana harga melebihi RM100,000, kita jangkakan kita terima tamparan yang lebih tinggi daripada kereta tempatan.
"Sebab itu, kita mohon kerajaan atau BNM supaya longgarkan sikit syarat untuk pinjaman kereta," katanya.
Mengenai jualan kereta import di negara ini, Zainuddin berkata, secara keseluruhannya, nilai jualan tidak statik kerana harga kereta import berbeza-beza.
Bagaimana pun, katanya jumlah cukai jualan yang dibayar oleh pengimport kereta tahun lepas ialah hampir RM1 bilion.- Bernama
Source from (Sinar Online): http://www.sinarharian.com.my/bisnes/pekema-rayu-longgar-syarat-baru-pinjaman-sewa-beli-kereta-1.47843
Published: May 15, 2012
Source from (Sinar Online): http://www.sinarharian.com.my/bisnes/pekema-rayu-bnm-longgarkan-syarat-1.48066
Published: May 14, 2012
Presiden PEKEMA Datuk Zainuddin Abdul Rahman berkata pelonggaran syarat itu penting bagi memastikan industri automatif negara terus berkembang.
"Kita jangka industri automatif lembab tahun ini kerana dasar sekatan pinjaman yang begitu ketat oleh BNM. Kita juga jangka pasaran kereta (import) akan menurun sekitar 30 peratus untuk tahun ini," katanya kepada pemberita selepas menghadiri Majlis Makan Malam PEKEMA Sabah dan Sumbangan Amal Yayasan PEKEMA di sini malam tadi.
Mengikut statistik jumlah kereta yang diimport tahun lepas mencecah angka 610,000 manakala jumlah kereta import yang tidak dapat dijual ialah sekitar 15,000, katanya.
Tahun ini, Zainuddin berkata PEKEMA menyasarkan jumlah kereta yang diimport sebanyak 615,000 meski pun dalam keadaan ekonomi yang tidak menentu.
"Walau pun kereta import ada pasaran sendiri, namun oleh kerana harga melebihi RM100,000, kita jangkakan kita terima tamparan yang lebih tinggi daripada kereta tempatan.
"Sebab itu, kita mohon kerajaan atau BNM supaya longgarkan sikit syarat untuk pinjaman kereta," katanya.
Mengenai jualan kereta import di negara ini, Zainuddin berkata, secara keseluruhannya, nilai jualan tidak statik kerana harga kereta import berbeza-beza.
Bagaimana pun, katanya jumlah cukai jualan yang dibayar oleh pengimport kereta tahun lepas ialah hampir RM1 bilion.- Bernama
BNM kekal OPR 3%
BANK Negara Malaysia (BNM) mengekalkan Kadar Dasar Semalaman (OPR) pada kadar 3.00 peratus selepas diputuskan pada mesyuarat Jawatankuasa Dasar Monetari (MPC) Jumaat lalu.
Source from (Harian Metro): http://www.hmetro.com.my/myMetro/articles/BNMkekalOPR3_/Article/index_html
Published: May 14, 2012
Dalam kenyataannya di Kuala Lumpur, bank pusat itu berkata, sungguhpun ekonomi Malaysia menerima kesan daripada perkembangan global, permintaan dalam negeri terus menyokong pertumbuhan didorong aktiviti penggunaan dan pelaburan mampan.
“Melangkah ke hadapan, trend ini dijangka berterusan. Penggunaan swasta disokong keadaan guna tenaga stabil, pertumbuhan pendapatan dan langkah sektor awam,” katanya.
Bank Negara berkata, aktiviti pelaburan dipacu terutama oleh industri berorientasikan dalam negeri, sektor komoditi dan sektor awam.
Mengenai inflasi, BNM berkata ia dijangka menjadi sederhana pada 2012 selaras dengan terdapatnya peningkatan bekalan dalam negeri dan keadaan permintaan yang stabil.
Source from (Harian Metro): http://www.hmetro.com.my/myMetro/articles/BNMkekalOPR3_/Article/index_html
Published: May 14, 2012
Dalam kenyataannya di Kuala Lumpur, bank pusat itu berkata, sungguhpun ekonomi Malaysia menerima kesan daripada perkembangan global, permintaan dalam negeri terus menyokong pertumbuhan didorong aktiviti penggunaan dan pelaburan mampan.
“Melangkah ke hadapan, trend ini dijangka berterusan. Penggunaan swasta disokong keadaan guna tenaga stabil, pertumbuhan pendapatan dan langkah sektor awam,” katanya.
Bank Negara berkata, aktiviti pelaburan dipacu terutama oleh industri berorientasikan dalam negeri, sektor komoditi dan sektor awam.
Mengenai inflasi, BNM berkata ia dijangka menjadi sederhana pada 2012 selaras dengan terdapatnya peningkatan bekalan dalam negeri dan keadaan permintaan yang stabil.
Sunday, May 13, 2012
Used car dealers feeling the strain under new lending guidelines
USED car dealers all over the country are feeling the strain of Bank Negara's responsible lending guidelines, which is already having a big impact on the local automotive sector.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/12/business/10960584&sec=business
Published: May 13, 2012
A Kuala Lumpur-based used car dealer said the added documentation process under the new lending rules is prolonging the car-buying procedure.
“Since the guidelines were implemented this year, the used car business has been slow. It has not been easy,” he says, adding that other used car dealers that he knew also say they are “feeling the pinch.”
“I asked some of my dealer-friends and they said they are having difficulty selling.”
Peng, a Petaling Jaya-based used car dealer says the central bank's new lending rules are making it difficult for customers to get their loans approved.
“Some of our customers are earning well but some of them have other commitments like a housing loan. Because of this, they have problems getting approval for a car loan,” she says.
Under Bank Negara's new responsible lending guidelines, which was implemented on Jan 1, loans are now approved based on net income compared with gross income previously.
The new guidelines are intended to help manage the household debt in Malaysia to reasonable levels. However, the new stringent rules have resulted in some potential car buyers finding it more difficult to get their loans approved.
In a statement last month, Bank Negara defended the new lending rules, claiming that the guidelines are meant to avoid the excessive accumulation of household debt, particularly among households that are more vulnerable to income shocks.
A Kuala Lumpur-based used car dealer selling high-end vehicles says his business is also affected.
“All of the dealers are affected, not just the low-end segment. Previously, loans allowed for two-door sports cars were between 85% and 90%. Now it's between 50% and 60%. It's because the NPLs (non-performing loans) have been high.
“I understand the need to curb the NPL, but unfortunately it's affecting the used car dealers quite a bit. The loan-approval process is taking a longer time now,” he says.
Butterworth-based Keat Hoe Used Car Enterprise Sdn Bhd says the new lending rules have had an impact on its business.
“The issue is actually with the loan financing process, not the customer,” says a sales representative who requested anonymity.
“They have the ability to pay their loans, just that they cannot be approved. The process is much more stringent now.”
He says the rules have an impact on all vehicle makes.
“It's all the same. Proton also cannot, (Toyota) Vios also cannot (get loans approved). For instance, we have an owner earning over RM3,000, but he's buying a house so can't get his financing sorted with the banks,” says the used car dealer.
CMT Sdn Bhd, a Temerloh-based used car company, claims that because many of the buyers within the area are agriculture workers, the loan approval procedure has become difficult under the new guidelines.
“Temerloh relies quite a bit of its income on agriculture. As such, many of the workers here are small-time businessmen and their salaries are not fixed. So providing a steady salary slip is an issue.”
A Sarawak-based used car dealer also concurs that the documentation process has become increasingly difficult for buyers to get their loans approved.
“We have one or two returning customers with a good track record and have no issues paying their monthly loans previously. But under the new guidelines, they can't get a loan.
Improving conditions?
A Selangor-based used car dealer however says the lending rules do “create issues” initially.
“We had problems initially but now our sales representatives are starting to adapt to the documentation process. It's not like how it was prior to the lending rules, but it is better than how it was in the first two months of the year.”
Federation of Motor and Credit Companies Association of Malaysia president Datuk Tony Khor says “things have been improving.”
“When the guidelines kicked in, there was a bit of a problem but it's improving. We see it getting better as time goes on,” he says.
An analyst from a bank-backed brokerage believes the lending rules will normalise eventually.
“The dip in sales earlier this year is due to the initial shock created from the lending guidelines. It will take time to adjust, but we believe things will go back to normal eventually,” he says.
As for new vehicle registrations, the lending guidelines has had a direct impact especially on sellers of lower capacity passenger vehicles, such as Proton and Perodua.
In March, Perodua announced that its vehicles fell 11% in March to 16,000 vehicles versus 18,000 units in the previous corresponding period, while the Proton Edar Dealers Association Malaysia said that loan approval rates had been affected.
According to the Malaysian Automotive Association (MAA), total vehicle sales shrank 15.3% to 53,583 units in March from a year ago. Sales in the first quarter dipped 12.6% to 138,544 vehicles from 158,432 units in the previous corresponding period.
Despite a dip in total industry volume in the first quarter of this year versus the previous corresponding period, demand for premium cars remains positive. Mercedes-Benz Malaysia grew its total vehicle sales by 0.5% in the first quarter ended March 31, delivering 1,724 units of passenger and commercial vehicles combined.
BMW Group Malaysia's total vehicle sales grew 16% to 1,516 units in the first quarter ended March 31, marking a new record high for the premium car company.
The MAA has forecast total vehicle sales to grow 2.5% to 615,000 units this year. If achieved, it will be a new record for Malaysia.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/12/business/10960584&sec=business
Published: May 13, 2012
A Kuala Lumpur-based used car dealer said the added documentation process under the new lending rules is prolonging the car-buying procedure.
“Since the guidelines were implemented this year, the used car business has been slow. It has not been easy,” he says, adding that other used car dealers that he knew also say they are “feeling the pinch.”
“I asked some of my dealer-friends and they said they are having difficulty selling.”
Peng, a Petaling Jaya-based used car dealer says the central bank's new lending rules are making it difficult for customers to get their loans approved.
“Some of our customers are earning well but some of them have other commitments like a housing loan. Because of this, they have problems getting approval for a car loan,” she says.
Under Bank Negara's new responsible lending guidelines, which was implemented on Jan 1, loans are now approved based on net income compared with gross income previously.
The new guidelines are intended to help manage the household debt in Malaysia to reasonable levels. However, the new stringent rules have resulted in some potential car buyers finding it more difficult to get their loans approved.
In a statement last month, Bank Negara defended the new lending rules, claiming that the guidelines are meant to avoid the excessive accumulation of household debt, particularly among households that are more vulnerable to income shocks.
A Kuala Lumpur-based used car dealer selling high-end vehicles says his business is also affected.
“All of the dealers are affected, not just the low-end segment. Previously, loans allowed for two-door sports cars were between 85% and 90%. Now it's between 50% and 60%. It's because the NPLs (non-performing loans) have been high.
“I understand the need to curb the NPL, but unfortunately it's affecting the used car dealers quite a bit. The loan-approval process is taking a longer time now,” he says.
Butterworth-based Keat Hoe Used Car Enterprise Sdn Bhd says the new lending rules have had an impact on its business.
“The issue is actually with the loan financing process, not the customer,” says a sales representative who requested anonymity.
“They have the ability to pay their loans, just that they cannot be approved. The process is much more stringent now.”
He says the rules have an impact on all vehicle makes.
“It's all the same. Proton also cannot, (Toyota) Vios also cannot (get loans approved). For instance, we have an owner earning over RM3,000, but he's buying a house so can't get his financing sorted with the banks,” says the used car dealer.
CMT Sdn Bhd, a Temerloh-based used car company, claims that because many of the buyers within the area are agriculture workers, the loan approval procedure has become difficult under the new guidelines.
“Temerloh relies quite a bit of its income on agriculture. As such, many of the workers here are small-time businessmen and their salaries are not fixed. So providing a steady salary slip is an issue.”
A Sarawak-based used car dealer also concurs that the documentation process has become increasingly difficult for buyers to get their loans approved.
“We have one or two returning customers with a good track record and have no issues paying their monthly loans previously. But under the new guidelines, they can't get a loan.
Improving conditions?
A Selangor-based used car dealer however says the lending rules do “create issues” initially.
“We had problems initially but now our sales representatives are starting to adapt to the documentation process. It's not like how it was prior to the lending rules, but it is better than how it was in the first two months of the year.”
Federation of Motor and Credit Companies Association of Malaysia president Datuk Tony Khor says “things have been improving.”
“When the guidelines kicked in, there was a bit of a problem but it's improving. We see it getting better as time goes on,” he says.
An analyst from a bank-backed brokerage believes the lending rules will normalise eventually.
“The dip in sales earlier this year is due to the initial shock created from the lending guidelines. It will take time to adjust, but we believe things will go back to normal eventually,” he says.
As for new vehicle registrations, the lending guidelines has had a direct impact especially on sellers of lower capacity passenger vehicles, such as Proton and Perodua.
In March, Perodua announced that its vehicles fell 11% in March to 16,000 vehicles versus 18,000 units in the previous corresponding period, while the Proton Edar Dealers Association Malaysia said that loan approval rates had been affected.
According to the Malaysian Automotive Association (MAA), total vehicle sales shrank 15.3% to 53,583 units in March from a year ago. Sales in the first quarter dipped 12.6% to 138,544 vehicles from 158,432 units in the previous corresponding period.
Despite a dip in total industry volume in the first quarter of this year versus the previous corresponding period, demand for premium cars remains positive. Mercedes-Benz Malaysia grew its total vehicle sales by 0.5% in the first quarter ended March 31, delivering 1,724 units of passenger and commercial vehicles combined.
BMW Group Malaysia's total vehicle sales grew 16% to 1,516 units in the first quarter ended March 31, marking a new record high for the premium car company.
The MAA has forecast total vehicle sales to grow 2.5% to 615,000 units this year. If achieved, it will be a new record for Malaysia.
Thursday, May 10, 2012
No change in interest rates expected
PETALING JAYA: Bank Negara is expected to maintain the overnight policy rate (OPR) at 3% when it's monetary policy committee meets tomorrow as the current rate continues to be at an accommodative level, promoting growth and price stability, according to economists.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/10/business/11261190&sec=business
Published: May 10, 2012
Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/opro/Article/
Published: May 13, 2012
Bank Negara to maintain OPR at 3%, say economists
PETALING JAYA: Bank Negara is expected to maintain the overnight policy rate (OPR) at 3% when it's monetary policy committee meets tomorrow as the current rate continues to be at an accommodative level, promoting growth and price stability, according to economists.
AmResearch Sdn Bhd director of economic research Manokaran Mottain did not forsee any rate review of the OPR which is the benchmark rate that determines banks' lending rates, for the rest of the year.
“OPR will remain at 3% throughout 2012,” he told clients in a report yesterday.
Manokaran: ‘We forecast inflation to moderate to 2.5% for 2012 from 3.2%.’
In
the same report, Manokaran said domestic demand, especially in private
consumption and investment, would support gross domestic product (GDP)
growth in the quarters ahead.
In addition, the need for a rate cut in order to encourage growth was further reduced given the ample amount of liquidity currently in the banking system, coupled with healthy levels of loans growth.
“As for inflation, despite the sustained rise in commodity prices, particularly in crude oil, we still forecast inflation to moderate to 2.5% for 2012, from 3.2% in 2011,” Manokaran said.
In its report, HSBC Global Research noted that all in all, economic fundamentals in the United States and Europe remained weak and hence it believed that downside risks were still considerable.
“Still, domestic demand remained solid supported by favourable labour market conditions and supportive monetary policy settings, with credit growth still running fast and sentiment indicators improving,” its economist Leif Eskesen said.
Looking ahead, inflation was expected to remain in check in coming months, Eskesen said but gradually increase during the second half as pent-up inflation was passed through and growth picks up.
“In view of this and given the still accommodative monetary policy settings, Bank Negara is expected to extend the pause to balance near-term growth risk while containing inflation pressures further down the road,” he said.
He added that the central bank was expected to resume tightening no later than next year.
The pause in the OPR tomorrow will be Bank Negara's sixth in a row, if it materialises.
Manokaran is expecting GDP to improve in the coming quarters, even rebound sharply to near 6% in the second half of this year, which would average the annual growth to around 5% this year.
Bank Negara expects the economy to grow between 4% and 5% this year.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/10/business/11261190&sec=business
Published: May 10, 2012
Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/opro/Article/
Published: May 13, 2012
Bank Negara to maintain OPR at 3%, say economists
PETALING JAYA: Bank Negara is expected to maintain the overnight policy rate (OPR) at 3% when it's monetary policy committee meets tomorrow as the current rate continues to be at an accommodative level, promoting growth and price stability, according to economists.
AmResearch Sdn Bhd director of economic research Manokaran Mottain did not forsee any rate review of the OPR which is the benchmark rate that determines banks' lending rates, for the rest of the year.
“OPR will remain at 3% throughout 2012,” he told clients in a report yesterday.
Manokaran: ‘We forecast inflation to moderate to 2.5% for 2012 from 3.2%.’In addition, the need for a rate cut in order to encourage growth was further reduced given the ample amount of liquidity currently in the banking system, coupled with healthy levels of loans growth.
“As for inflation, despite the sustained rise in commodity prices, particularly in crude oil, we still forecast inflation to moderate to 2.5% for 2012, from 3.2% in 2011,” Manokaran said.
In its report, HSBC Global Research noted that all in all, economic fundamentals in the United States and Europe remained weak and hence it believed that downside risks were still considerable.
“Still, domestic demand remained solid supported by favourable labour market conditions and supportive monetary policy settings, with credit growth still running fast and sentiment indicators improving,” its economist Leif Eskesen said.
Looking ahead, inflation was expected to remain in check in coming months, Eskesen said but gradually increase during the second half as pent-up inflation was passed through and growth picks up.
“In view of this and given the still accommodative monetary policy settings, Bank Negara is expected to extend the pause to balance near-term growth risk while containing inflation pressures further down the road,” he said.
He added that the central bank was expected to resume tightening no later than next year.
The pause in the OPR tomorrow will be Bank Negara's sixth in a row, if it materialises.
Manokaran is expecting GDP to improve in the coming quarters, even rebound sharply to near 6% in the second half of this year, which would average the annual growth to around 5% this year.
Bank Negara expects the economy to grow between 4% and 5% this year.
Wednesday, May 9, 2012
Inflasi: BNM ambil kira gaji minimum
KUALA LUMPUR 8 Mei - Bank Negara Malaysia (BNM) telah mengambil kira kadar gaji minimum antara RM800 dan RM900 bagi unjuran inflasi antara 2.0 peratus dan 3.0 peratus pada tahun ini.
Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/info.asp?y=2012&dt=0509&pub=Utusan_Malaysia&sec=Ekonomi&pg=ek_01.htm
Published: May 09, 2012
Source from (Sinar Online): http://www.sinarharian.com.my/bisnes/gaji-minimum-bank-negara-unjur-inflasi-terkawal-1.46505
Published: May 09, 2012
Gabenor BNM, Tan Sri Zeti Akhtar Aziz berkata, kenaikan gaji minimum itu membabitkan sebahagian kecil daripada kos pengeluaran.
''Berikutan itu, (kenaikan gaji) tidak akan menyumbang kepada kenaikan harga. Lagipun, harga masih sederhana.
''Unjuran asal masih dikekalkan,'' katanya selepas merasmikan Persidangan Persatuan Institut-Institut Perbankan Asia Pasifik di sini hari ini.
Malaysia akan melaksanakan gaji minimum sebanyak RM900 bagi Semenanjung dan RM800 di Sabah dan Sarawak, selepas enam bulan akta berkaitan diwartakan.
Mengulas mengenai perkara itu, Zeti berkata, sebanyak 100 buah negara telah melaksanakan gaji minimum.
Tambah beliau, kenaikan gaji itu adalah positif kerana ia akan menyumbang kepada perbelanjaan.
''Kenaikan (gaji) juga akan menyumbang kepada pertumbuhan,'' ujarnya.
Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/info.asp?y=2012&dt=0509&pub=Utusan_Malaysia&sec=Ekonomi&pg=ek_01.htm
Published: May 09, 2012
Source from (Sinar Online): http://www.sinarharian.com.my/bisnes/gaji-minimum-bank-negara-unjur-inflasi-terkawal-1.46505
Published: May 09, 2012
Gabenor BNM, Tan Sri Zeti Akhtar Aziz berkata, kenaikan gaji minimum itu membabitkan sebahagian kecil daripada kos pengeluaran.
''Berikutan itu, (kenaikan gaji) tidak akan menyumbang kepada kenaikan harga. Lagipun, harga masih sederhana.
''Unjuran asal masih dikekalkan,'' katanya selepas merasmikan Persidangan Persatuan Institut-Institut Perbankan Asia Pasifik di sini hari ini.
Malaysia akan melaksanakan gaji minimum sebanyak RM900 bagi Semenanjung dan RM800 di Sabah dan Sarawak, selepas enam bulan akta berkaitan diwartakan.
Mengulas mengenai perkara itu, Zeti berkata, sebanyak 100 buah negara telah melaksanakan gaji minimum.
Tambah beliau, kenaikan gaji itu adalah positif kerana ia akan menyumbang kepada perbelanjaan.
''Kenaikan (gaji) juga akan menyumbang kepada pertumbuhan,'' ujarnya.
Bank Negara kekal unjuran inflasi 2 hingga 3 peratus
BANK Negara Malaysia mengekalkan unjuran inflasi di negara ini pada kadar antara dua hingga tiga peratus di sebalik pengenalan gaji minimum.
Source from (Berita Harian): http://www.bharian.com.my/bharian/articles/BankNegarakekalunjuraninflasi2hingga3peratus/Article
Published: May 09, 2012
Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/info.asp?y=2012&dt=0508&pub=Utusan_Malaysia&sec=Ekonomi&pg=ek_04.htm
Published: May 09, 2012
Gabenornya Tan Sri Dr Zeti Akhtar Aziz, berkata bank pusat itu yakin bahawa gaji minimum berkenaan hanya mewakili bahagian kecil kos pengeluaran.
Ia juga, jelas beliau, tidak akan menyumbang kepada harga tinggi
khususnya ketika negara berada dalam fasa harga yang sederhana.
Malah Zeti menegaskan, pengenalan gaji minimum itu adalah suatu yang positif kerana ia mampu merangsang penggunaan domestik.
Ia disebabkan kumpulan yang disasarkan itu mempunyai kecenderungan tinggi untuk membeli.
“Kami sudah mengambil kira prospek gaji minimum. Seperti yang anda tahu, lebih 100 negara di dunia ini sudah melaksanakannya,” katanya kepada media di luar Persidangan Persatuan Institut Perbankan Asia Pasifik, di Kuala Lumpur, semalam.
Mengenai kesan pengurangan hutang oleh bank Eropah di Asia, beliau berkata, kebanyakan negara di rantau ini akan menerima kesan tetapi pada ‘tahap terhad’ kerana terdapat mudah tunai yang besar.
“Dari segi sektor kewangan, kita boleh campur tangan untuk menyediakan mudah tunai,” katanya.
Sementara itu, Zeti berpendapat industri automotif di Malaysia adalah industri yang amat kompetitif dan beroperasi dalam pasaran yang sudah sangat tepu.
“Justeru, ia adalah berkisar kepada untuk menjadi lebih kompetitif dengan menambah baik produktiviti, inovasi, kecekapan, mengurangkan kos, model baru dan meneroka ke pasaran antarabangsa,” katanya.
Beliau berkata demikian ketika ditanya sama ada Bank Negara akan membenarkan pelaksanaan sebarang garis panduan baru secara berperingkat bagi membantu meringankan kesan kepada peserta dan pengguna. – BERNAMA
Source from (Berita Harian): http://www.bharian.com.my/bharian/articles/BankNegarakekalunjuraninflasi2hingga3peratus/Article
Published: May 09, 2012
Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/info.asp?y=2012&dt=0508&pub=Utusan_Malaysia&sec=Ekonomi&pg=ek_04.htm
Published: May 09, 2012
Gabenornya Tan Sri Dr Zeti Akhtar Aziz, berkata bank pusat itu yakin bahawa gaji minimum berkenaan hanya mewakili bahagian kecil kos pengeluaran.
Malah Zeti menegaskan, pengenalan gaji minimum itu adalah suatu yang positif kerana ia mampu merangsang penggunaan domestik.
Ia disebabkan kumpulan yang disasarkan itu mempunyai kecenderungan tinggi untuk membeli.
“Kami sudah mengambil kira prospek gaji minimum. Seperti yang anda tahu, lebih 100 negara di dunia ini sudah melaksanakannya,” katanya kepada media di luar Persidangan Persatuan Institut Perbankan Asia Pasifik, di Kuala Lumpur, semalam.
Mengenai kesan pengurangan hutang oleh bank Eropah di Asia, beliau berkata, kebanyakan negara di rantau ini akan menerima kesan tetapi pada ‘tahap terhad’ kerana terdapat mudah tunai yang besar.
“Dari segi sektor kewangan, kita boleh campur tangan untuk menyediakan mudah tunai,” katanya.
Sementara itu, Zeti berpendapat industri automotif di Malaysia adalah industri yang amat kompetitif dan beroperasi dalam pasaran yang sudah sangat tepu.
“Justeru, ia adalah berkisar kepada untuk menjadi lebih kompetitif dengan menambah baik produktiviti, inovasi, kecekapan, mengurangkan kos, model baru dan meneroka ke pasaran antarabangsa,” katanya.
Beliau berkata demikian ketika ditanya sama ada Bank Negara akan membenarkan pelaksanaan sebarang garis panduan baru secara berperingkat bagi membantu meringankan kesan kepada peserta dan pengguna. – BERNAMA
BNM: Inflation to stay 2%-3% despite minimum wage
KUALA LUMPUR: Bank Negara Malaysia's (BNM) inflation forecast of between 2% and 3% still remains despite the introduction of the minimum wage, said the central bank governor Tan Sri Dr Zeti Akhtar Aziz.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/9/business/11252951&sec=business
Published: May 09, 2012
Source from (The Malay Mail): http://www.mmail.com.my/story/bnm-inflation-stay-2-3-despite-minimum-wage
Published: May 09, 2012
Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/rup08a/Article/
Published: May 09, 2012
She said the minimum wage policy was positive, as it would contribute to an increase in consumption as the group it catered to had a high propensity to consume.
"We have already priced in the prospect of the minimum wage. As you know, more than 100 countries in the world have already implemented it," she told reporters on the sidelines of the Asian-Pacific Association of Banking Institutes Conference, here today.
Zeti said the central bank believed that the minimum wage represented a small part of production cost and would not contribute to higher prices particularly when the country was in a period of moderating prices.
Asked on the impact of European banks deleveraging in Asia, she said most countries in Asia would be affected but to a "limited extent" because there was ample liquidity in the region.
"Our financial sector can step in to provide the liquidity," she said.
Meanwhile, Zeti was of the view that the automotive industry in Malaysia was a highly competitive industry and operating in a market that was already very saturated.
"So it's all about becoming more competitive by improving productivity, innovation, greater efficiency, reducing cost, new model and going to international market," she said.
She said this when asked whether BNM would allow the implementation of any new guidelines in stages so as to allow a soft landing for both the players and consumers.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/9/business/11252951&sec=business
Published: May 09, 2012
Source from (The Malay Mail): http://www.mmail.com.my/story/bnm-inflation-stay-2-3-despite-minimum-wage
Published: May 09, 2012
Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/rup08a/Article/
Published: May 09, 2012
She said the minimum wage policy was positive, as it would contribute to an increase in consumption as the group it catered to had a high propensity to consume.
"We have already priced in the prospect of the minimum wage. As you know, more than 100 countries in the world have already implemented it," she told reporters on the sidelines of the Asian-Pacific Association of Banking Institutes Conference, here today.
Zeti said the central bank believed that the minimum wage represented a small part of production cost and would not contribute to higher prices particularly when the country was in a period of moderating prices.
Asked on the impact of European banks deleveraging in Asia, she said most countries in Asia would be affected but to a "limited extent" because there was ample liquidity in the region.
"Our financial sector can step in to provide the liquidity," she said.
Meanwhile, Zeti was of the view that the automotive industry in Malaysia was a highly competitive industry and operating in a market that was already very saturated.
"So it's all about becoming more competitive by improving productivity, innovation, greater efficiency, reducing cost, new model and going to international market," she said.
She said this when asked whether BNM would allow the implementation of any new guidelines in stages so as to allow a soft landing for both the players and consumers.
Bank Negara expected to keep rate at 3pc
KUALA LUMPUR, May 9 – Malaysia’s central bank will probably keep its key interest rate unchanged at a policy meeting on Friday, with concerns over inflationary pressures outweighing risks to economic growth from the global slowdown.
Source from (The Malaysian Insider): http://www.themalaysianinsider.com/business/article/bank-negara-expected-to-keep-rate-at-3pc/
Published: May 09, 2012
Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/rup08c/Article/
Published: May 09, 2012
All 16 economists in a Reuters poll expect Bank Negara to maintain the overnight policy rate (OPR) at 3.0 per cent. A decision on Friday to hold would be the central bank’s sixth straight one since May 2011, when it hiked the benchmark rate for a fourth time in a tightening cycle started in 2010.
“Governor Zeti’s recent comments expressing confidence over the 2012 outlook, the continuing trend of moderating inflation as well as interest rate levels being ‘appropriate’ suggest no inclination to move on rates for the time being,” said Citigroup economist Kit Wei Zheng, referring to central bank leader Zeti Akhtar Aziz.
“Thus, while we expect Bank Negara to maintain the OPR at 3 per cent at the next 2-3 Monetary Policy Committee meetings, odds of a rate hike would start to increase from end -012 and early 2013 as the output gap closes and core inflation picks up,” Kit said.
Most economists in a Reuters quarterly poll last month had predicted that interest rates would stay unchanged in 2012.
Malaysia’s inflation has eased from a 2011 high of 3.5 per cent, in June, but it could creep up again. March inflation moderated to 2.1 per cent but in the quarterly poll, the annual growth rate was seen higher at every quarter to reach the 3 per cent level by mid-2013.
Bank Negara said in its annual report that inflationary pressures could come from higher-than-expected global commodity prices, domestic supply disruptions and rising food prices. It estimates inflation this year at 2.5-3.0 per cent.
Economists said Bank Negara is adopting a wait-and-see stance. The central bank has said it has the “flexibility to respond to adjust the degree of monetary accommodation” in the event of a sharper downturn. Export growth for the year is expected to more than halve to 3.2 per cent year-on-year from 2011’s pace of 8.7 per cent, on weaker demand for electronics and lower global commodity prices.
Today, Malaysia reported that March exports were 0.1 per cent lower than a year earlier, a far worse performance than a 3.4 per cent increase expected by analysts. Exports to China, one of the biggest markets, fell 11 per cent from March 2011.
Bank Negara has projected gross domestic product to expand 4-5 per cent this year, slowing from 5.1 per cent in 2011.
Malaysia’s trade-dependent economy is expected to remain resilient on stronger domestic demand, rooted in government spending and an Economic Transformation Programme – worth US$444 billion (RM1,360 billion) – which comprises initiatives and mostly private investments.
Policymakers in most Southeast Asian countries are likely to concentrate on supporting growth in the near term as the global economic outlook remains uncertain amid slowing inflation.
Central banks in the Philippines, Thailand and Indonesia have kept rates steady after rounds of easing that began in late 2011 or early this year. – Reuters
Source from (The Malaysian Insider): http://www.themalaysianinsider.com/business/article/bank-negara-expected-to-keep-rate-at-3pc/
Published: May 09, 2012
Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/rup08c/Article/
Published: May 09, 2012
All 16 economists in a Reuters poll expect Bank Negara to maintain the overnight policy rate (OPR) at 3.0 per cent. A decision on Friday to hold would be the central bank’s sixth straight one since May 2011, when it hiked the benchmark rate for a fourth time in a tightening cycle started in 2010.
“Governor Zeti’s recent comments expressing confidence over the 2012 outlook, the continuing trend of moderating inflation as well as interest rate levels being ‘appropriate’ suggest no inclination to move on rates for the time being,” said Citigroup economist Kit Wei Zheng, referring to central bank leader Zeti Akhtar Aziz.
“Thus, while we expect Bank Negara to maintain the OPR at 3 per cent at the next 2-3 Monetary Policy Committee meetings, odds of a rate hike would start to increase from end -012 and early 2013 as the output gap closes and core inflation picks up,” Kit said.
Most economists in a Reuters quarterly poll last month had predicted that interest rates would stay unchanged in 2012.
Malaysia’s inflation has eased from a 2011 high of 3.5 per cent, in June, but it could creep up again. March inflation moderated to 2.1 per cent but in the quarterly poll, the annual growth rate was seen higher at every quarter to reach the 3 per cent level by mid-2013.
Bank Negara said in its annual report that inflationary pressures could come from higher-than-expected global commodity prices, domestic supply disruptions and rising food prices. It estimates inflation this year at 2.5-3.0 per cent.
Economists said Bank Negara is adopting a wait-and-see stance. The central bank has said it has the “flexibility to respond to adjust the degree of monetary accommodation” in the event of a sharper downturn. Export growth for the year is expected to more than halve to 3.2 per cent year-on-year from 2011’s pace of 8.7 per cent, on weaker demand for electronics and lower global commodity prices.
Today, Malaysia reported that March exports were 0.1 per cent lower than a year earlier, a far worse performance than a 3.4 per cent increase expected by analysts. Exports to China, one of the biggest markets, fell 11 per cent from March 2011.
Bank Negara has projected gross domestic product to expand 4-5 per cent this year, slowing from 5.1 per cent in 2011.
Malaysia’s trade-dependent economy is expected to remain resilient on stronger domestic demand, rooted in government spending and an Economic Transformation Programme – worth US$444 billion (RM1,360 billion) – which comprises initiatives and mostly private investments.
Policymakers in most Southeast Asian countries are likely to concentrate on supporting growth in the near term as the global economic outlook remains uncertain amid slowing inflation.
Central banks in the Philippines, Thailand and Indonesia have kept rates steady after rounds of easing that began in late 2011 or early this year. – Reuters
International reserves at RM417b 30 April 2012
KUALA LUMPUR: Bank Negara Malaysia's international reserves amounted to RM416.9bil (equivalent to US$135.9bil) as at April 30.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/9/business/11255068&sec=business
Published: May 09, 2012
The central bank, in a statement yesterday, said the reserves position was sufficient to finance 9.5 months of retained imports and was four times the short term external debt. - Bernama
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/9/business/11255068&sec=business
Published: May 09, 2012
The central bank, in a statement yesterday, said the reserves position was sufficient to finance 9.5 months of retained imports and was four times the short term external debt. - Bernama
Investors’ confidence boosted with ample liquidity
THE statement that Asian financial markets have enough liquidity to withstand any market pullback should lend a note of calm even in the face of renewed fears over the eurozone crisis.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/9/business/11255302&sec=business
Published: May 09, 2012
Market players, agreeing with the statement by Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz, said Malaysia's financial sector has ample liquidity.
The large local funds also have the capability to come into the market and buy up stocks with value.
There is a possibility that markets may retreat but what is more important are the steps taken to mitigate the situation.
“The economies of Asean+3 are in relatively very good shape,” said Datuk Lee K. Kwan, deputy group CEO and head of corporate banking, treasury and markets, CIMB Group.
“There is little exposure and reliance on foreign currency funding; most Asean+3 central banks have accumulated large amounts of foreign exchange reserves; they are in much better fiscal shape and running high savings rate that are more than sufficient to fund the productive sectors of the economy.
“Liquidity is ample. What is not noticed internationally is that ever since the 1997/98 crisis, most Asean+3 countries have significantly de-risked, especially in terms of leverage and exposure to foreign currency funding, and strengthened their financial systems significantly to be in a much better position to absorb external shocks.
“Every year, the improvement and capacity to absorb shocks has increased markedly,” said Lee.
With the slowdown in Europe, there is a focus to further develop and integrate the regional Asean+3 local currency bond and equity markets in line with the exponential growth of intra Asean+3 in real trade of imports and exports.
“In fact, we should focus on building up cross border issuance and cross border investing activities especially the Asean+3 regional local currency bond markets so that Asean+3 is better able to invest in itself and across the region.
“They should not just invest in US dollars and eurodollars for their money to be recycled back into high growth Asean+3 economies and charged wider credit spreads due to our lower international credit ratings,” said Lee.
“The recently concluded Asian Development Bank meetings in Manila of Asean+3 central bankers and finance ministers clearly articulated this objective in addition to increasing intra Asean+3 regional cooperation where the amount of funds available to member Asean+3 nations has now doubled to increase the shock absorbency of the Asean+3 region.”
Pong Teng Siew, head of research at Interpac Securities, noted that local funds, in search of value, had been selling since February.
“They don't like the way foreign funds have been driving up stock prices and are waiting for buying opportunities on market dips,” he said. Interestingly, said Pong, foreign funds may be leaving many countries but not Malaysia where many of them are still parked.
Overall, it is a time for caution as several factors point to troubling times for the market:
Slow earnings growth of 10% to 11%,
Earnings slowdown in some of the biggest weighted stocks like banks,
Slowdown in the overall property market and
Easing off in palm oil prices.
In Europe, the situation is not good as liquidity injected by the European Central Bank has little permanent effect.
There may be a window of opportunity in the middle of the year when the European Stability Mechanism (ESM) comes in. The ESM is a more flexible mechanism with a bigger fund and wider powers.
“That should help matters,” said Pong, recalling the wild swings in the market during August, September and October of last year.
“Markets go on a wild swing when there is lack of confidence,” said Pong. “What happened in those three months can happen again once confidence is broken.”
Another reason for caution is the fact that while Europe looks risky, the US economy looks quite fine only until the end of the year.
By next year, tax implications and fiscal consolidation issues will be hitting the US economy where government spending is likely to be curtailed.
Associate editor Yap Leng Kuen prays for calm and sanity to prevail.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/9/business/11255302&sec=business
Published: May 09, 2012
Market players, agreeing with the statement by Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz, said Malaysia's financial sector has ample liquidity.
The large local funds also have the capability to come into the market and buy up stocks with value.
There is a possibility that markets may retreat but what is more important are the steps taken to mitigate the situation.
“The economies of Asean+3 are in relatively very good shape,” said Datuk Lee K. Kwan, deputy group CEO and head of corporate banking, treasury and markets, CIMB Group.
“There is little exposure and reliance on foreign currency funding; most Asean+3 central banks have accumulated large amounts of foreign exchange reserves; they are in much better fiscal shape and running high savings rate that are more than sufficient to fund the productive sectors of the economy.
“Liquidity is ample. What is not noticed internationally is that ever since the 1997/98 crisis, most Asean+3 countries have significantly de-risked, especially in terms of leverage and exposure to foreign currency funding, and strengthened their financial systems significantly to be in a much better position to absorb external shocks.
“Every year, the improvement and capacity to absorb shocks has increased markedly,” said Lee.
With the slowdown in Europe, there is a focus to further develop and integrate the regional Asean+3 local currency bond and equity markets in line with the exponential growth of intra Asean+3 in real trade of imports and exports.
“In fact, we should focus on building up cross border issuance and cross border investing activities especially the Asean+3 regional local currency bond markets so that Asean+3 is better able to invest in itself and across the region.
“They should not just invest in US dollars and eurodollars for their money to be recycled back into high growth Asean+3 economies and charged wider credit spreads due to our lower international credit ratings,” said Lee.
“The recently concluded Asian Development Bank meetings in Manila of Asean+3 central bankers and finance ministers clearly articulated this objective in addition to increasing intra Asean+3 regional cooperation where the amount of funds available to member Asean+3 nations has now doubled to increase the shock absorbency of the Asean+3 region.”
Pong Teng Siew, head of research at Interpac Securities, noted that local funds, in search of value, had been selling since February.
“They don't like the way foreign funds have been driving up stock prices and are waiting for buying opportunities on market dips,” he said. Interestingly, said Pong, foreign funds may be leaving many countries but not Malaysia where many of them are still parked.
Overall, it is a time for caution as several factors point to troubling times for the market:
Slow earnings growth of 10% to 11%,
Earnings slowdown in some of the biggest weighted stocks like banks,
Slowdown in the overall property market and
Easing off in palm oil prices.
In Europe, the situation is not good as liquidity injected by the European Central Bank has little permanent effect.
There may be a window of opportunity in the middle of the year when the European Stability Mechanism (ESM) comes in. The ESM is a more flexible mechanism with a bigger fund and wider powers.
“That should help matters,” said Pong, recalling the wild swings in the market during August, September and October of last year.
“Markets go on a wild swing when there is lack of confidence,” said Pong. “What happened in those three months can happen again once confidence is broken.”
Another reason for caution is the fact that while Europe looks risky, the US economy looks quite fine only until the end of the year.
By next year, tax implications and fiscal consolidation issues will be hitting the US economy where government spending is likely to be curtailed.
Associate editor Yap Leng Kuen prays for calm and sanity to prevail.
Friday, May 4, 2012
Bank Negara wins awards for regulator of the year, best conduct
PETALING JAYA: Bank Negara has won the Bank Regulator of the Year and Best Conduct of Business Regulator awards at the Asian Banker Summit 2012 in Bangkok last month.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/4/business/11228026&sec=business
Published: May 04, 2012
Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/bnem/Article/
Published: May 04, 2012
A statement issued by organiser TAB International Pte Ltd said that Bank Negara had shown exemplary supervision and rigorous conduct and it had successfully steered Malaysia’s financial system to emerge mostly unscathed through the global financial crisis.
“Its supervision has positioned Malaysia as the leading Islamic financial hub in Asia. Islamic banking accounts for 20% of the Malaysian banking system and the sukuk market represents more than 50% of the country’s bond market.
“The central bank has also formulated various measures and policies such as Guidelines on Responsible Finance, which moved to liberalise its financial sector to facilitate cross-border business transactions and enhance business efficiency,” the statement said.
Bank Negara also placed an emphasis on consumer protection, exhibiting rigorous yet responsible supervisory conduct, it added.
The summit was attended by about 1,000 delegates consisting of industry specialists, senior bankers, regulators, service providers and decision makers from leading institutions in Asia, the United States, Europe and Latin America.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/4/business/11228026&sec=business
Published: May 04, 2012
Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/bnem/Article/
Published: May 04, 2012
A statement issued by organiser TAB International Pte Ltd said that Bank Negara had shown exemplary supervision and rigorous conduct and it had successfully steered Malaysia’s financial system to emerge mostly unscathed through the global financial crisis.
“Its supervision has positioned Malaysia as the leading Islamic financial hub in Asia. Islamic banking accounts for 20% of the Malaysian banking system and the sukuk market represents more than 50% of the country’s bond market.
“The central bank has also formulated various measures and policies such as Guidelines on Responsible Finance, which moved to liberalise its financial sector to facilitate cross-border business transactions and enhance business efficiency,” the statement said.
Bank Negara also placed an emphasis on consumer protection, exhibiting rigorous yet responsible supervisory conduct, it added.
The summit was attended by about 1,000 delegates consisting of industry specialists, senior bankers, regulators, service providers and decision makers from leading institutions in Asia, the United States, Europe and Latin America.
Takaful M’sia upbeat on M&As
KUALA LUMPUR: Syarikat Takaful Malaysia Bhd is looking to expand its business and increase market share via mergers and acquisitions (M&As) from 2014 onwards after the risk-based capital (RBC) framework for takaful operators is in place.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/4/business/11225434&sec=business
Published: May 04, 2012
It plans to take advantage of Bank Negara’s RBC framework implementation
Group managing director Datuk Mohamed Hassan Md Kamil said the RBC framework for takaful operators would be in place by the end of next year.
“By then, takaful operators that do not meet the minimum capital requirement would either have to inject more capital or consolidate. If there is a suitable partner, merging would be an option we will definitely explore in the future. This is because growing organically can take some time.
Hassan: ‘Growing organically takes time.’
“So in the long term, once the RBC framework is in place, some companies would have to merge to gain competitiveness and economies of scale,” he told reporters after the company AGM yesterday.
It was reported that Bank Negara had issued a concept paper on RBC framework for takaful operators in April last year.
As of December 2011, Takaful Malaysia was the second largest operator in Malaysia with a market share of about 25% behind Etiqa Takaful that controlled about 41% of the market.
Hassan said the consolidation was currently more on the conventional insurance business as its RBC framework was already launched. “We envisioned to be the number one takaful operator in two to three years time.
“Although we are in the second place in Malaysia now, we are a leader in the non-motor general takaful business with a 32% market share and we are also a leader in group family takaful business with market share of 33%,'' he said.
He added: “We are quite selective in the segments that we wanted to be leaders. For example, we do not want too much of the motor business because the volatility of the claims.”
Takaful Malaysia, according to Hassan, has allocated RM15mil to improve its information technology infrastructure to enhance its service level. The company is also looking to open six more takaful myCare centres in Malaysia this year.
On its Indonesian operations, Hassan said growth of the industry was restricted as the Islamic insurance framework there was not as structured as it was in Malaysia.
“The takaful business there still can operate on window basis where it is just another product in the general insurance business. So, it's not a level playing field for us there because we are a stand-alone company.
“Nevertheless, I heard that the window-based takaful business there might have to close up in three years to be stand-alone business,” he said, adding that Indonesia's operations contributed less than 5% to the company's earnings last year.
Hassan said the company was waiting to see more stability the regulatory framework before deciding to invest more.
“We heard that Bank of Indonesia plans to impose new caps on single-shareholder stakes in commercial banks as early as this month. We hope that regulations there would be streamlined soon so that we will be in position to capture a larger share of the market there,” he said.
On the company's performance, Hassan said he was positive on its soon-to-be-announced first-quarter ended March 31 results.
Takaful Malaysia's profit after tax and zakat rose by 98.4% to RM76.4mil for the financial year ended Dec 31, 2011 from a year earlier. It boasts group assets of RM5.9bil.
At the AGM, shareholders approved a final dividend of 10% single-tier for the financial year under review amounting to RM16.3mil.
Hassan said the company's share price had risen from RM1.39 to RM3.96 over the past 12 months.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/4/business/11225434&sec=business
Published: May 04, 2012
It plans to take advantage of Bank Negara’s RBC framework implementation
Group managing director Datuk Mohamed Hassan Md Kamil said the RBC framework for takaful operators would be in place by the end of next year.
“By then, takaful operators that do not meet the minimum capital requirement would either have to inject more capital or consolidate. If there is a suitable partner, merging would be an option we will definitely explore in the future. This is because growing organically can take some time.
Hassan: ‘Growing organically takes time.’
“So in the long term, once the RBC framework is in place, some companies would have to merge to gain competitiveness and economies of scale,” he told reporters after the company AGM yesterday.
It was reported that Bank Negara had issued a concept paper on RBC framework for takaful operators in April last year.
As of December 2011, Takaful Malaysia was the second largest operator in Malaysia with a market share of about 25% behind Etiqa Takaful that controlled about 41% of the market.
Hassan said the consolidation was currently more on the conventional insurance business as its RBC framework was already launched. “We envisioned to be the number one takaful operator in two to three years time.
“Although we are in the second place in Malaysia now, we are a leader in the non-motor general takaful business with a 32% market share and we are also a leader in group family takaful business with market share of 33%,'' he said.
He added: “We are quite selective in the segments that we wanted to be leaders. For example, we do not want too much of the motor business because the volatility of the claims.”
Takaful Malaysia, according to Hassan, has allocated RM15mil to improve its information technology infrastructure to enhance its service level. The company is also looking to open six more takaful myCare centres in Malaysia this year.
On its Indonesian operations, Hassan said growth of the industry was restricted as the Islamic insurance framework there was not as structured as it was in Malaysia.
“The takaful business there still can operate on window basis where it is just another product in the general insurance business. So, it's not a level playing field for us there because we are a stand-alone company.
“Nevertheless, I heard that the window-based takaful business there might have to close up in three years to be stand-alone business,” he said, adding that Indonesia's operations contributed less than 5% to the company's earnings last year.
Hassan said the company was waiting to see more stability the regulatory framework before deciding to invest more.
“We heard that Bank of Indonesia plans to impose new caps on single-shareholder stakes in commercial banks as early as this month. We hope that regulations there would be streamlined soon so that we will be in position to capture a larger share of the market there,” he said.
On the company's performance, Hassan said he was positive on its soon-to-be-announced first-quarter ended March 31 results.
Takaful Malaysia's profit after tax and zakat rose by 98.4% to RM76.4mil for the financial year ended Dec 31, 2011 from a year earlier. It boasts group assets of RM5.9bil.
At the AGM, shareholders approved a final dividend of 10% single-tier for the financial year under review amounting to RM16.3mil.
Hassan said the company's share price had risen from RM1.39 to RM3.96 over the past 12 months.
BNM pengawal selia terbaik
BANGKOK 3 Mei - Bank Negara Malaysia (BNM) telah dinamakan sebagai Pengawal Selia Terbaik di rantau Asia Pasifik dan Anugerah Pelaksana Perniagaan Pengawal Selia Terbaik 2012 pada Persidangan Risiko Perbankan dan Peraturan Asia.
Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/info.asp?y=2012&dt=0504&pub=Utusan_Malaysia&sec=Ekonomi&pg=ek_04.htm
Published: May 04, 2012
Menurut satu kenyataan, bank pusat itu menerima anugerah pada Sidang Kemuncak Pengendali Bank 2012 yang diadakan di Pusat Konvensyen Bangkok pada 25 April lalu.
BNM telah menunjukkan contoh pemantauan dan kepimpinan yang baik serta berjaya membawa sistem kewangan Malaysia sehingga tidak memberi kesan walaupun berhadapan dengan krisis kewangan global.
Ia telah meletakkan dan mempromosi Malaysia sebagai peneraju hab kewangan Islam di Asia.
Perbankan Islam kini adalah 20 peratus dari sistem perbankan Malaysia dan pasaran sukuk, mewakili lebih 50 peratus pasaran bon Malaysia.
Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/info.asp?y=2012&dt=0504&pub=Utusan_Malaysia&sec=Ekonomi&pg=ek_04.htm
Published: May 04, 2012
Menurut satu kenyataan, bank pusat itu menerima anugerah pada Sidang Kemuncak Pengendali Bank 2012 yang diadakan di Pusat Konvensyen Bangkok pada 25 April lalu.
BNM telah menunjukkan contoh pemantauan dan kepimpinan yang baik serta berjaya membawa sistem kewangan Malaysia sehingga tidak memberi kesan walaupun berhadapan dengan krisis kewangan global.
Ia telah meletakkan dan mempromosi Malaysia sebagai peneraju hab kewangan Islam di Asia.
Perbankan Islam kini adalah 20 peratus dari sistem perbankan Malaysia dan pasaran sukuk, mewakili lebih 50 peratus pasaran bon Malaysia.
Thursday, May 3, 2012
Bank Negara’s guidelines affect mainly lower income group
KUALA LUMPUR: The responsible lending guidelines issued by Bank Negara for banks since the beginning of this year may have less of a downside impact on loans growth than initially thought, Hong Leong Research said.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/3/business/11211162&sec=business
Published: May 03, 2012
Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/desm/Article/index_html
Published: May 04, 2012
Hong Leong Research's banking analyst Low Yee Huap said in a report that the impact of responsible lending has so far affected mainly the lower income group which consisted 12.7% of total loans.
This is also premised upon the latest banking statistics for March which showed that year-on-year (y-o-y) loans growth accelerated to 12.2% from a growth of 11.9% in February, after two consecutive months of slowdown due to seasonal and festivities factors.
In March, banking statistics showed a higher y-o-y loans growth to the business sector for the purposes of construction and working capital with a y-o-y growth of 19.2% and 10.4% compared with 16.2% and 10% respectively in February; while the household segment slowed to 11.9% from 12.1% in the previous month likely due to the responsible lending guidelines.
Low had maintained loans growth target of 9% in 2012 with an overweight call on the banking sector adding that a boost from the economic transformation programme (ETP) and would also positively impact consumer credit.
“The (banking) sector is the best proxy to the domestic economic growth and will enjoy significant multiplier effect from implementation of ETP projects.
“Continued consumption will indirectly boost demand for hire purchase, mortgage, personal loans and credit cards,” he said in the report.
The overweight call is also underscored by the banking system's health which is in a “better position” today but also highlighted that the stress point to the system's health would most likely be from the lower income group, while the middle to higher income group are financially sound.
“As for the lower income group, we laud Bank Negara's preemptive moves and the role played by Agensi Kaunseling dan Pengurusan Kredit in ensuring the system's health,” he said.
Meanwhile, CIMB Research analyst Winson Ng Gia Yann, who maintained a neutral stance on the banking sector , had a less sanguine view despite the higher y-o-y loans growth in March as compared with the previous month.
“We do not view this as a surprise because the improvement (in loans growth) was small, and loans approval, which is a leading indicator, increased by 17.6% y-o-y in February,” Ng said in his report.
“We still see downside risks for loan growth from March's level given the moderating trend for the leading loan indicators in March,” Ng added with an industry wide loans growth forecast of 9% to 10% for the entire 2012.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/3/business/11211162&sec=business
Published: May 03, 2012
Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/desm/Article/index_html
Published: May 04, 2012
Hong Leong Research's banking analyst Low Yee Huap said in a report that the impact of responsible lending has so far affected mainly the lower income group which consisted 12.7% of total loans.
This is also premised upon the latest banking statistics for March which showed that year-on-year (y-o-y) loans growth accelerated to 12.2% from a growth of 11.9% in February, after two consecutive months of slowdown due to seasonal and festivities factors.
In March, banking statistics showed a higher y-o-y loans growth to the business sector for the purposes of construction and working capital with a y-o-y growth of 19.2% and 10.4% compared with 16.2% and 10% respectively in February; while the household segment slowed to 11.9% from 12.1% in the previous month likely due to the responsible lending guidelines.
Low had maintained loans growth target of 9% in 2012 with an overweight call on the banking sector adding that a boost from the economic transformation programme (ETP) and would also positively impact consumer credit.
“The (banking) sector is the best proxy to the domestic economic growth and will enjoy significant multiplier effect from implementation of ETP projects.
“Continued consumption will indirectly boost demand for hire purchase, mortgage, personal loans and credit cards,” he said in the report.
The overweight call is also underscored by the banking system's health which is in a “better position” today but also highlighted that the stress point to the system's health would most likely be from the lower income group, while the middle to higher income group are financially sound.
“As for the lower income group, we laud Bank Negara's preemptive moves and the role played by Agensi Kaunseling dan Pengurusan Kredit in ensuring the system's health,” he said.
Meanwhile, CIMB Research analyst Winson Ng Gia Yann, who maintained a neutral stance on the banking sector , had a less sanguine view despite the higher y-o-y loans growth in March as compared with the previous month.
“We do not view this as a surprise because the improvement (in loans growth) was small, and loans approval, which is a leading indicator, increased by 17.6% y-o-y in February,” Ng said in his report.
“We still see downside risks for loan growth from March's level given the moderating trend for the leading loan indicators in March,” Ng added with an industry wide loans growth forecast of 9% to 10% for the entire 2012.
Wednesday, May 2, 2012
Shadow banks on Bank Negara’s radar screen
PETALING JAYA: Bank Negara is closely monitoring the activities of non-bank institutions or shadow banks that are not regulated under the mainstream banking system, sources told StarBiz.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/2/business/11206959&sec=business
Published: May 02, 2012
“The situation is not yet a cause for alarm but the authorities want to make sure that they do not pose a risk to the banking system and that their unregulated lending does not create a bubble like what happened in the US prior to the global financial crisis,'' a source said.
Concerns over non-bank lending have surfaced in the wake of the implementation of responsible lending guidelines in the regular banking system.
Bank Negara's financial stability report 2011 quotes a Federal Reserve Bank of New York staff report that the volume of credit intermediated by the shadow banking system in the United States was nearly twice (about 1.8 times) as large as the volume of credit intermediated by the traditional banking system prior to the global financial crisis.
In Malaysia, the nature and scale of the activities of these non-bank intermediaries are much less complex and account for a much smaller share of total credit intermediated by the banking system.
Moreover, the bulk of the activities and the non-bank entities themselves are subject to oversight of Bank Negara and the Securities Commission.
“The control over the mainstream banks will be less effective if the activity flows at the non-bank institutions are not under some form of control,'' said Pong Teng Siew, head of research at Interpac Securities. “In the process, banks may be asked to rein in their lending to these non-bank institutions.''
There are instances when banks, wanting to achieve a certain continuous pace of growth, will set up non-bank conduits and channel the lending to them.
“That is what happened in the United States but in Malaysia, the central bank is powerful. It will find out what they are doing,'' said Pong. “They ought to be monitored closely, especially if the holding company is also to get a piece of action.''
In monitoring these non-bank institutions, certain areas such as lending to civil servants, may be the focus. “Excessive lending may, at some point, lead to a credit trap where these civil servants use up all their money to service their loans via salary deductions.'' said Pong. “They may then turn to other sources of borrowing.''
In many instances, loose credit standards and lack of credit analysis can also lead to other problems.
Recently, the activities and size of assets of these non-bank lenders have expanded. “The growth in financing extended has been mainly focused on the household sector but continues to represent a small share (5.9%) of total financing to households,'' said Bank Negara in its financial stability report.
“To ensure that these developments do not, over time, contribute towards the imprudent build-up of leverage in the household sector, the central bank's surveillance of developments in the lending activities by non-bank lenders has been strengthened in close cooperation with the relevant supervisory authorities.
“Specific measures have also been implemented to ensure that credit co-operative societies and large building societies observe responsible financing practices that are consistent with regulations applied to the financial institutions under the bank's purview,'' said Bank Negara.
In March, Malaysian Rating Corp (MARC) expressed concern that the pace of lending by non-bank institutions, for example, development financial institutions such as Bank Pembangunan, Bank Kerjasama Rakyat and Bank Simpanan Nasional, had been relatively high in the past few years.
It has averaged 14.5% a year since 2005 and moderated to 7.2% in 2011.
In voicing its concerns over the quantity and quality of loans given out, MARC had pointed out that lending for “consumption credit” had grown at a compounded average growth rate (CAGR) of 20.3% a year in the past seven years with the pace of growth in the lending for the credit cards segment, which has seen a CAGR of 50.4% a year since 2005.
In its financial sector blueprint, Bank Negara spoke of the development of a framework for monitoring and managing risks arising from entities and activities taking place outside the directly supervised financial system.
The steps involve enhancing data collection and surveillance of such entities and activities particularly those of systemic importance and implementing appropriate regulatory responses to preemptively manage emerging risks.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/5/2/business/11206959&sec=business
Published: May 02, 2012
“The situation is not yet a cause for alarm but the authorities want to make sure that they do not pose a risk to the banking system and that their unregulated lending does not create a bubble like what happened in the US prior to the global financial crisis,'' a source said.
Concerns over non-bank lending have surfaced in the wake of the implementation of responsible lending guidelines in the regular banking system.
Bank Negara's financial stability report 2011 quotes a Federal Reserve Bank of New York staff report that the volume of credit intermediated by the shadow banking system in the United States was nearly twice (about 1.8 times) as large as the volume of credit intermediated by the traditional banking system prior to the global financial crisis.
In Malaysia, the nature and scale of the activities of these non-bank intermediaries are much less complex and account for a much smaller share of total credit intermediated by the banking system.
Moreover, the bulk of the activities and the non-bank entities themselves are subject to oversight of Bank Negara and the Securities Commission.
“The control over the mainstream banks will be less effective if the activity flows at the non-bank institutions are not under some form of control,'' said Pong Teng Siew, head of research at Interpac Securities. “In the process, banks may be asked to rein in their lending to these non-bank institutions.''
There are instances when banks, wanting to achieve a certain continuous pace of growth, will set up non-bank conduits and channel the lending to them.
“That is what happened in the United States but in Malaysia, the central bank is powerful. It will find out what they are doing,'' said Pong. “They ought to be monitored closely, especially if the holding company is also to get a piece of action.''
In monitoring these non-bank institutions, certain areas such as lending to civil servants, may be the focus. “Excessive lending may, at some point, lead to a credit trap where these civil servants use up all their money to service their loans via salary deductions.'' said Pong. “They may then turn to other sources of borrowing.''
In many instances, loose credit standards and lack of credit analysis can also lead to other problems.
Recently, the activities and size of assets of these non-bank lenders have expanded. “The growth in financing extended has been mainly focused on the household sector but continues to represent a small share (5.9%) of total financing to households,'' said Bank Negara in its financial stability report.
“To ensure that these developments do not, over time, contribute towards the imprudent build-up of leverage in the household sector, the central bank's surveillance of developments in the lending activities by non-bank lenders has been strengthened in close cooperation with the relevant supervisory authorities.
“Specific measures have also been implemented to ensure that credit co-operative societies and large building societies observe responsible financing practices that are consistent with regulations applied to the financial institutions under the bank's purview,'' said Bank Negara.
In March, Malaysian Rating Corp (MARC) expressed concern that the pace of lending by non-bank institutions, for example, development financial institutions such as Bank Pembangunan, Bank Kerjasama Rakyat and Bank Simpanan Nasional, had been relatively high in the past few years.
It has averaged 14.5% a year since 2005 and moderated to 7.2% in 2011.
In voicing its concerns over the quantity and quality of loans given out, MARC had pointed out that lending for “consumption credit” had grown at a compounded average growth rate (CAGR) of 20.3% a year in the past seven years with the pace of growth in the lending for the credit cards segment, which has seen a CAGR of 50.4% a year since 2005.
In its financial sector blueprint, Bank Negara spoke of the development of a framework for monitoring and managing risks arising from entities and activities taking place outside the directly supervised financial system.
The steps involve enhancing data collection and surveillance of such entities and activities particularly those of systemic importance and implementing appropriate regulatory responses to preemptively manage emerging risks.
BNM, bank kena 'turun padang'
KOTA KINABALU 29 April - Perusahaan Otomobil Kedua Sdn. Bhd. (Perodua) yang terjejas akibat pelaksanaan Garis Panduan Amalan Pembiayaan Yang Baik oleh Bank Negara Malaysia (BNM) sejak awal tahun ini meminta bank pusat itu dan institusi perbankan turun padang untuk melihat sendiri kesan dan impak akibat penguatkuasaan garis panduan tersebut.
Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/info.asp?y=2012&dt=0430&pub=Utusan_Malaysia&sec=Ekonomi&pg=ek_04.htm
Published: May 02, 2012
Pengarah Urusannya, Datuk Aminar Rashid Salleh berkata, cadangan itu dibuat bagi membolehkan pihak-pihak terbabit membuat penilaian sendiri berhubung isu yang diperjuangkan oleh Perodua.
''Kita bukan syok sendiri (dalam memperjuangkan isu ini) tetapi mereka boleh lihat berapa banyak stok kereta kami terutama Viva di pasaran terutama di Sabah, Sarawak, pantai timur dan utara Semenanjung," katanya ketika ditemui di sini.
Tegasnya, negeri-negeri itu memang pasaran utama Viva dengan mengambil kira status pembeli dan peniaga bergaji kecil serta mempunyai masalah untuk mengemukakan dokumen.
''Pengangkutan awam di pasaran-pasaran tersebut juga terhad, justeru mereka memerlukan pengangkutan sendiri.
''BNM dan bank-bank perlu lihat sendiri masalah ini," tambah beliau.
Menurut beliau, selaku syarikat yang mengeluarkan kereta nasional, Perodua tidak pernah menentang pelaksanaan garis panduan yang dilaksanakan oleh BNM kerana memahami tujuannya.
Bagaimanapun, beliau mempersoalkan mengapa pelaksanaan garis panduan itu menyebabkan proses permohonan mengambil masa sehingga dua hingga tiga bulan kerana faktor masa itu menyukarkan pelanggan.
''Tempoh memproses permohonan yang panjang menyukarkan kami dan pelanggan.
''Tidak bolehkah perkara ini diberi kelonggaran, meskipun arahan garis panduan itu dipatuhi?," ujar beliau.
Aminar mengakui tidak faham mengapa pelaksanaan memproses permohonan terlalu ketat sedangkan nisbah tidak berbayar bagi kereta-kereta Perodua hanyalah satu peratus sahaja.
Mengulas lanjut, beliau berkata, Perodua telah menghantar surat kepada Perdana Menteri, Datuk Seri Najib Tun Razak dalam mencari penyelesaian berhubung pelaksanaan garis panduan tersebut.
''Kami memang ada buat rayuan, meminta simpati kerajaan," katanya tanpa mengulas lanjut.
Tegas beliau, apa yang dilaku dan disuarakan oleh Perodua adalah selaras dengan peranan dan tanggungjawabnya selaku syarikat kereta nasional.
''Apabila permintaan susut, pengeluaran juga menurun. Apa jadi dengan ekosistem perniagaan Perodua yang membabitkan 60,000 hingga 70,000 orang. Ia membabitkan masa depan vendor, wakil jualan, rakan niaga.
''Kalau jualan kami susut, cukai yang perlu dibayar kepada kerajaan juga menurun. Adakah ia baik untuk ekonomi dan kerajaan?.
''Itu belum lagi mengambil kira pelaburan dan sumbangan kami kepada industri, ekonomi dan negara," katanya.
Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/info.asp?y=2012&dt=0430&pub=Utusan_Malaysia&sec=Ekonomi&pg=ek_04.htm
Published: May 02, 2012
Pengarah Urusannya, Datuk Aminar Rashid Salleh berkata, cadangan itu dibuat bagi membolehkan pihak-pihak terbabit membuat penilaian sendiri berhubung isu yang diperjuangkan oleh Perodua.
''Kita bukan syok sendiri (dalam memperjuangkan isu ini) tetapi mereka boleh lihat berapa banyak stok kereta kami terutama Viva di pasaran terutama di Sabah, Sarawak, pantai timur dan utara Semenanjung," katanya ketika ditemui di sini.
Tegasnya, negeri-negeri itu memang pasaran utama Viva dengan mengambil kira status pembeli dan peniaga bergaji kecil serta mempunyai masalah untuk mengemukakan dokumen.
''Pengangkutan awam di pasaran-pasaran tersebut juga terhad, justeru mereka memerlukan pengangkutan sendiri.
''BNM dan bank-bank perlu lihat sendiri masalah ini," tambah beliau.
Menurut beliau, selaku syarikat yang mengeluarkan kereta nasional, Perodua tidak pernah menentang pelaksanaan garis panduan yang dilaksanakan oleh BNM kerana memahami tujuannya.
Bagaimanapun, beliau mempersoalkan mengapa pelaksanaan garis panduan itu menyebabkan proses permohonan mengambil masa sehingga dua hingga tiga bulan kerana faktor masa itu menyukarkan pelanggan.
''Tempoh memproses permohonan yang panjang menyukarkan kami dan pelanggan.
''Tidak bolehkah perkara ini diberi kelonggaran, meskipun arahan garis panduan itu dipatuhi?," ujar beliau.
Aminar mengakui tidak faham mengapa pelaksanaan memproses permohonan terlalu ketat sedangkan nisbah tidak berbayar bagi kereta-kereta Perodua hanyalah satu peratus sahaja.
Mengulas lanjut, beliau berkata, Perodua telah menghantar surat kepada Perdana Menteri, Datuk Seri Najib Tun Razak dalam mencari penyelesaian berhubung pelaksanaan garis panduan tersebut.
''Kami memang ada buat rayuan, meminta simpati kerajaan," katanya tanpa mengulas lanjut.
Tegas beliau, apa yang dilaku dan disuarakan oleh Perodua adalah selaras dengan peranan dan tanggungjawabnya selaku syarikat kereta nasional.
''Apabila permintaan susut, pengeluaran juga menurun. Apa jadi dengan ekosistem perniagaan Perodua yang membabitkan 60,000 hingga 70,000 orang. Ia membabitkan masa depan vendor, wakil jualan, rakan niaga.
''Kalau jualan kami susut, cukai yang perlu dibayar kepada kerajaan juga menurun. Adakah ia baik untuk ekonomi dan kerajaan?.
''Itu belum lagi mengambil kira pelaburan dan sumbangan kami kepada industri, ekonomi dan negara," katanya.
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