'Unpredictable' Bank Negara

KUALA LUMPUR: Bank Negara Malaysia again emerged as among the top central banks in Asia in terms of being the least predictable in its monetary policy, says Credit Suisse.

Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/rup2800/Article/index_html
Published: Jun 30, 2013



Bank of Korea and the Reserve Bank of India topped the research house's non-Japan Asia list and Bank Negara came in second.

The research house, which undertook the study, compared the results of all the scheduled policy meetings held over the past seven years based on the Bloomberg consensus expectation.

The three central banks clocked more than 20 percentage points in terms of scheduled rate decisions where the Bloomberg consensus got wrong, surprising the market instead.

Economist Robert Prior-Wandesforde described the central bank of the Philippines as the most predictable, particularly its reverse repo rate.

Bank Indonesia is comfortably still the most dovish over the period, although it remains to be seen whether this continues under the new governor, he added.

Two years ago, Credit Suisse conducted a similar study in which Bank Negara Malaysia was categorised as the least predictable with the consensus wrong more than 25 per cent.

Wang Secara Meluas Meningkat 9.5 Peratus Pada Mei

KUALA LUMPUR,28 Jun (Bernama) -- Pertumbuhan tahunan wang secara luas atau M3, meningkat kepada 9.5 peratus pada Mei 2013, kata Bank Negara Malaysia (BNM).

Source from (Bernama): http://www.bernama.com/bernama/v7/bm/bu/newsbusiness.php?id=959654
Published: Jun 30, 2013

Bank pusat itu berkata peningkatan M3 pada asas tahunan disebabkan terutama oleh pengeluaran pinjaman bersih kepada sektor swasta, aliran masuk asing bersih dan tuntutan bersih yang lebih tinggi terhadap Kerajaan

"Pembiayaan bersih kepada sektor swasta meningkat pada kadar yang lebih perlahan sebanyak 10 peratus pada Mei disebabkan oleh pertumbuhan yang sederhana bagi pinjaman sistem perbankan terkumpul dan terbitan bersih sekuriti hutang swasta (PDS)," katanya dalam satu kenyataan Jumaat.

BNM berkata pertumbuhan pinjaman perniagaan terkumpul menjadi sederhana pada bulan Mei berikutan pengeluaran pinjaman yang lebih rendah berbanding tempoh yang sama pada 2012, apabila pengeluaran pinjaman kepada perniagaan pada tempoh itu sangat tinggi

Bagaimanapun, pinjaman yang dikeluarkan kepada perniagaan kekal kukuh berbanding bulan-bulan sebelumnya, dengan lebih banyak pinjaman diberikan terutama kepada sektor harta tanah, kewangan, insurans dan perkhidmatan perniagaan, pembinaan dan perkilangan.

Bank Pusat berkata Pinjaman terkumpul kepada sektor isi rumah terus meningkat pada kadar yang secara relatifnya stabil, sebanyak 12 peratus.

"Permintaan terhadap pinjaman secara keseluruhannya kekal kukuh dengan permohonan pinjaman yang berterusan daripada sektor perniagaan dan isi rumah," katanya.

Mengenai sistem perbankan, BNM berkata permodalannya terus teguh mengikut Rangka Kerja Kecukupan Modal Basel III dengan Nisbah Modal Ekuiti Biasa Kumpulan 1, Nisbah Modal Kumpulan 1 dan Nisbah Jumlah Modal masing-masing pada 11.9 peratus, 12.8 peratus dan 14.1 peratus.

"Modal Kumpulan 2 menurun sedikit disebabkan oleh penebusan hutang subordinat oleh sebuah bank.

Paras pinjaman terjejas bersih kekal stabil pada 1.4 peratus daripada pinjaman bersih, manakala perlindungan kerugian pinjaman terus melebihi 90 peratus, katanya.

BNM berkata pada Mei, ringgit mencatat prestasi bercampur-campur berbanding mata wang rakan perdagangan utama.

"Ringgit menyusut nilai berbanding renminbi China, euro, dan dolar Amerika Syarikat (AS) namun menambah nilai berbanding yen Jepun dan dolar Singapura," katanya.

Pada Jun, ringgit pada amnya menyusut nilai berbanding mata wang rakan dagangan utama Malaysia

Mengenai inflasi Bank Negara berkata seperti yang diukur oleh perubahan peratusan tahunan dalam Indeks Harga Pengguna (IHP), ia meningkat kepada 1.8 peratus pada Mei 2013 (April: 1.7 peratus).

-- BERNAMA

BIMB Dapat Kelulusan Bank Negara Muktamadkan Rundingan Beli Pegangan Pada 31 Julai

KUALA LUMPUR, 28 Jun (Bernama) -- BIMB Holdings Bhd menerima kelulusan daripada Bank Negara untuk memulakan rundingan dengan Dubai Financial Group LLC (DFG) dan Lembaga Tabung Haji bagi cadangan pembelian pegangan DFG dalam Bank Islam Malaysia Bhd.

Source from (Bernama): http://www.bernama.com/bernama/v7/bm/bu/newsbusiness.php?id=959648
Published: Jun 30, 2013

BIMB berkata bank pusat itu menerusi suratnya Khamis berkata pihak-pihak perlu memastikan rundingan diselesaikan dalam tempoh tarikh akhir yang dilanjutkan iaitu pada 31 Julai, 2013.

"Bank Negara tidak ada halangan dengan lanjutan masa, di mana kelulusan rasmi bagi cadangan pembelian itu seperti yang dipersetujui bersama oleh pihak-pihak terbabit, perlu diminta," kata bank itu dalam kenyataan kepada Bursa Malaysia.

Pada April, BIMB mengumumkan bank pusat membenarkan lanjutan masa sehingga 30 Jun, 2013, untuk menyelesaikan rundingan itu.

BIMB memiliki 51 peratus Bank Islam Malaysia, manakala DFG memiliki 30.5 peratus pegangan dan baki 18.5 peratus dipegang Lembaga Tabung Haji.

-- BERNAMA 

BIMB Gets Bank Negara Consent To Conclude Talk On Stake Buy By July 31

KUALA LUMPUR, June 28 (Bernama) -- BIMB Holdings Bhd has received consent from Bank Negara to commence negotiations with Dubai Financial Group LLC (DFG) and Lembaga Tabung Haji for its proposed acquisition of DFG's stake in Bank Islam Malaysia Bhd.

Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=959604
Published: Jun 30, 2013

BIMB said the central bank via its letter yesterday said the parties must ensure that negotiations are completed within the extended deadline of July 31, 2013.

"Bank Negara has no objection to the extension of time, following which a formal approval for the proposed acquisition as mutually agreed among the parties, shall be sought," it said in an announcement to Bursa Malaysia.

In April, BIMB announced the central bank's consent for an extension of time until June 30, 2013 to complete negotiations.

BIMB owns 51 per cent of Bank Islam Malaysia, while DFG has a 30.5 per cent stake and Lembaga Tabung Haji the remaining 18.5 per cent.

-- BERNAMA 

East Asia-Pacific Central Banks Express Optimism On Resilience Of Region's Economies

KUALA LUMPUR, June 30 (Bernama) -- East Asia-Pacific Central Banks expressed their optimism on the resilience of the region's economies at the just-concluded 18th Executives' Meeting of East Asia-Pacific Central Banks (EMEAP) Governors' Meeting, according to Bank Negara Malaysia (BNM) today.

Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=959877
Published: Jun 30, 2013

"Robust macroeconomic policies and wide-ranging reforms to the financial system and the increasing regional integration reinforce this trend," it said in a statement.

BNM said the 11 EMEAP member central banks and monetary authorities participated in the Meeting, which was chaired by BNM Governor Tan Sri Dr Zeti Akhtar Aziz.

At the Meeting which was held here Saturday, the Governors shared their views on the ongoing uncertainties in the global economic environment, the central bank said.

BNM said the Governors noted the report of the 44th EMEAP Deputies' Meeting held in Guangzhou, China, in April 2013.

It discussed the progress made across a wide spectrum of EMEAP activities, including cooperation in the areas of banking supervision, financial markets, payment and settlement systems and information technology.

BNM said the Governors also discussed the updates from the Monetary and Financial Stability Committee (MFSC) on its surveillance and research activities.

The statement said the Governors had also agreed on the substantive aspects of the regional crisis management framework with further refinements for its finalisation.

At the Meeting, the Governors accepted the offer from the Bank of Thailand to host the 19th EMEAP Governors' Meeting in 2014.

EMEAP is a co-operative forum of 11 central banks and monetary authorities in the East Asia and Pacific region comprising the Reserve Bank of Australia, the People's Bank of China, the Hong Kong Monetary Authority, Bank Indonesia, the Bank of Japan, the Bank of Korea, BNM, the Reserve Bank of New Zealand, Bangko Sentral ng Pilipinas, the Monetary Authority of Singapore and the Bank of Thailand.

-- BERNAMA 

Bank Pusat Asia Timur-Pasifik Optimis Mengenai Daya Tahan Ekonomi Rantau Ini

KUALA LUMPUR, 30 Jun (Bernama) -- Bank-bank pusat di Asia Timur-Pasifik merasa optimis mengenai daya tahan ekonomi rantau ini pada Mesyuarat Eksekutif ke-18 Mesyuarat Gabenor-Gabenor Bank Pusat Asia Timur (EMEAP) yang baru berakhir, demikian menurut Bank Negara Malaysia (BNM) hari ini.

Source from (Bernama): http://www.bernama.com/bernama/v7/bm/bu/newsbusiness.php?id=959888
Published: Jun 30, 2013

"Dasar makroekonomi yang kukuh dan pembaharuan yang meluas terhadap sistem kewangan dan peningkatan integrasi serantau memperkukuhkan lagi trend ini," katanya dalam satu kenyataan.

BNM berkata 11 bank pusat yang menganggotai EMEAP dan pihak berkuasa monetari mengambil bahagian di dalam mesyuarat itu, yang dipengerusikan oleh Gabenor BNM Tan Sri Dr Zeti Akhtar Aziz.

Pada mesyuarat itu, yang diadakan Sabtu, para gabenor itu berkongsi pandangan masing-masing mengenai ketidaktentuan yang masih berlaku di dalam persekitaran ekonomi global, kata BNM.

BNM berkata mereka akur dengan laporan Mesyuarat Wakil EMEAP ke-44 yang diadakan di Guangzhou, China, pada April 2013.

Ia telah membincangkan kemajuan yang dicapai yang meliputi pelbagai aktiviti EMEAP, yang termasuk kerjasama dalam bidang pemantauan perbankan, pasaran kewangan, sistem pembayaran dan penyelesaian serta teknologi maklumat.

BNM berkata para gabenor berkenaan turut membincangkan mengenai kemas kini dari Jawatankuasa Monetari dan Kestabilan Kewangan (MFSC) mengenai aktiviti pemantauan dan penyelidikannya.

Kenyataan itu menyatakan bahawa para gabenor berkenaan juga bersetuju mengenai aspek penting kerangka pengurusan krisis serantau dengan memperhaluskannya lagi sebagai usaha memuktamadkannya.

Pada mesyuarat itu, para gabenor itu telah menerima tawaran Bank of Thailand untuk menjadi hos Mesyuarat Gabenor-Gabenor EMEAP ke-19 pada 2014.

EMEAP adalah forum kerjasama 11 bank pusat dan pihak berkuasa monetari di rantau Asia Timur dan Pasifik, yang terdiri daripada Reserve Bank of Australia, People's Bank of China, Hong Kong Monetary Authority, Bank Indonesia, Bank of Japan, Bank of Korea, BNM, Reserve Bank of New Zealand, Bangko Sentral ng Pilipinas, Monetary Authority of Singapore dan Bank of Thailand.

-- BERNAMA 

Curbs on DIBS may be negative for developers, but little effect on banks

THE potential move to impose curbs on the Developer Interest-Bearing Scheme (DIBS) by Bank Negara may be negative for some developers in the short term and has little effect on banks.

Source from (The Star Online): http://www.thestar.com.my/Business/Business-News/2013/06/29/Curbs-on-DIBS-may-be-negative-for-developers-but-little-effect-on-banks.aspx
Published: Jun 30, 2013

StarBiz had reported that Bank Negara was studying the risks arising from the DIBS, with a view of potentially imposing curbs on it.

Basically, if you purchase property from a developer who offers DIBS financing packages, then the developer would bear the interest for the loan during the construction period.

In other words, you don’t have to pay anything to the bank until construction is complete. You only start paying the bank instalments after the property is fully constructed.

DIBS has become a popular and easy financing package offered in joint-promotional activities between banks and developers in recent years.

CIMB Investment Bank Bhd research head Terence Wong said if the move by the central bank were true, then it would be “negative” for developers in the short term, although not entirely unexpected, as speculation on such a move had already surfaced in May.

“Although such a policy would have a negative impact on speculative demand, we believe the impact on earnings would be muted, while creating a healthier property market led more by fundamentals,” he said, adding that he had heard whispers over the past few weeks on the possibility.

“We remain ‘overweight’ on the property sector, with Mah Sing Group Bhd as our top pick, and robust sales and earnings growth as sector catalysts. Any weakness in property stocks is an opportunity to accumulate, in our view,” Wong added. Industry players are still awaiting a formal announcement from the central bank, if any.

Mah Sing’s group managing director and chief executive Tan Sri Leong Hoy Kum pointed out that there has been no announcement on interest-bearing schemes thus far.

However, he hopes that any implementation would take into consideration the industry’s feedback and the current market condition.

In addition, Leong said the lending environment was generally still conducive, with financing liquidity still attractive and interest rates still low.

While Mah Sing offers DIBS packages for some of its projects, it does not offer the scheme for its industrial, commercial and landed residential projects. Hong Leong Investment Bank Research, meanwhile, believes that developers with a high concentration of high-end, high-rise developments such as Eastern & Oriental Bhd would be the most severely affected.

However, it reckoned that other major developers within its coverage would not be as badly affected, given their exposure to this policy shift would comprise less than 50% of their sales.

Kenanga Research analysts said there was market talk that Bank Negara might want to do without the easy financing packages as part of the property lending curb.

However, they say quick checks with developers under their coverage indicated that the developers were not extending this scheme to many projects at the moment, as banks were also discouraging developers from undertaking the scheme because of speculative activities.

“Notably, Hua Yang Bhd’s and Crescendo Corp Bhd’s projects do not use this scheme, so they would be least affected in terms of demand. So, in terms of fundamentals, it should not hurt demand too much, particularly for the bigger developers.

“It would affect stock sentiment in the short run, so do expect further sell-downs if the curb on DIBS materialises – not even the high dividend-yielding ones would be spared,” they opined.

In the medium term, Kenanga Research does not expect prolonged sell-downs, as the Government was already talking about implementing the build-then-sell model, which would restrict future supply and lend strength to demand and larger players such as SP Setia Bhd, Mah Sing, IJM Land Bhd and UEM Sunrise Bhd.

“Currently, our sector is under review. Our existing call is ‘overweight’ and we are likely to maintain this, but with a more selective or buy-on-weakness stance. We are likely to continue promoting affordable developers like Hua Yang and Crescendo due to their resilient demand-based profile. We also like Johor-based developers like UEM Sunrise, as we believe there would be more positive news flows towards the year-end, for example, the Malaysia-Singapore Rapid Transit System, the listing of Iskandar Waterfront Holdings Sdn Bhd and more strategic tie-ups,” they added.

Concurrently, Maybank Investment Bank Research said assuming DIBS packages were banned, it estimates the worst-case scenario to be a marginal 0.7 percentage point to be shaved off its 2014 industry loans growth forecast of 10.5% to 9.8%.

“We believe domestic banks have been more tempered in their exposure to the mortgage segment, and channel checks point to limited exposure at this stage. We maintain our industry loan and earnings forecasts for the individual banks for now.

“We remain ‘overweight’ on the banking sector, with our ‘buys’ being AMMB Holdings Bhd, RHB Capital Bhd, BIMB Holdings Bhd and Hong Leong Financial Group Bhd,” Maybank said.

It explained that general guidance was that such loans had made up 15%-20% of new mortgage loans over the past few years.

Thus, some dampening effect was to be expected.

“Nevertheless, we believe the impact is likely to be contained by the fact that the housing loan growth of the ‘Big Six’ banks has been measured and such loans account for less than 5% of total residential loans for the big banks.”

DIBS curb has little effect on banks

ASSUMING the developer interest bearing scheme (DIBS) is curbed, we estimate the worst case scenario to be a marginal 0.7 percentage points (ppt) shave off our 2014 industry loan growth forecast of 10.5% to 9.8%.

Source from (The Star Online): http://www.thestar.com.my/Business/Business-News/2013/06/27/DIBS-curb-has-little-effect-on-banks.aspx
Published: Jun 27, 2013

BANKING SECTOR
By Maybank Investment Bank Research

Overweight (maintained)

ASSUMING the developer interest bearing scheme (DIBS) is curbed, we estimate the worst case scenario to be a marginal 0.7 percentage points (ppt) shave off our 2014 industry loan growth forecast of 10.5% to 9.8%.

We believe domestic banks have been more tempered in their exposure to the mortgage segment and channel checks point to limited exposure at this stage. We maintain our industry loan and earnings forecasts for the individual banks for now. We remain “overweight” on the banking sector with our “buys” being AMMB Holdings Bhd, RHB Capital Bhd, BIMB Holdings Bhd and Hong Leong Financial Group Bhd.

Speculation has it that Bank Negara is looking to curb the DIBS. General guidance is that such loans have made up 15%-20% of new mortgage loans over the past few years and thus some dampening effect is to be expected. Nevertheless, we believe the impact is likely to be contained by the fact that housing loan growth of the Big 6 banks has been measured and such loans account for less than 5% of total residential loans for the big banks.

Assuming DIBS loans account for 20% of new mortgage loans, we estimate the worst case impact to be a marginal 0.7-ppt decline in our 2014 industry loan growth forecast to 9.8% from 10.5%.

While industry housing loan growth rose 13% year-on-year (y-o-y) in 2011 and 2012 respectively, housing loan growth for the Big 6 banks rose 14% y-o-y in 2011 and at a more measured pace of 10% y-o-y in 2012, with foreign banks picking up the slack in 2012.

Public Bank continues to be the most aggressive in the market, with growth of 17% y-o-y in 2012, but with stringent controls, we understand that DIBS loans make up less than 2% of its mortgage book and that it has been very selective about which developers it ties up with for this scheme.

Based on our channel checks, AMMB (2-year housing loan compounded annual growth rate of 6%) has shied away from the property sector for several years while DIBS loans account for about 1%, 2% and 5% of CIMB’s, Maybank’s and RHB Cap’s mortgage books respectively.

Any move to curb the DIBS would be aimed primarily at further curbing speculative activity in the property market. To be fair, measures to date such as the raising of the loan-to-value (LTV) ratio in 2010 and a hike in real property gains tax in January 2013 have had some success.

Bank Negara had highlighted in its 2012 Financial Stability and Payment Systems Report that ever since the imposition of a LTV ratio of 70% on individuals with more than two housing loans, the annual growth in lending to such individuals had declined sharply to 14.5% y-o-y in November 2010 to 1.9% y-o-y in December 2012.

Individuals with multiple housing loans made up less than 3% of total housing loan borrowers and their borrowings accounted for 13.7% of outstanding housing loans.

Curbs on property scheme? Bank Negara said to be relooking at popular, easy developer interest-bearing scheme

PETALING JAYA: Bank Negara is studying the risks arising from the developer interest-bearing scheme (DIBS) with a view of potentially imposing curbs on it, sources said.

Source from (The Star Online): http://www.thestar.com.my/Business/Business-News/2013/06/25/Curbs-on-property-scheme-Bank-Negara-said-to-be-relooking-at-popular-easy-developer-interestbearing.aspx
Published: Jun 25, 2013

Although it is unclear if or when such curbs would be put in place, Hong Leong Investment Bank (HLIB) said that it may be “later this week”, adding that such a move would be a negative for future sales in the primary property market.

Other industry players think that the measures might be introduced in the second half of the year.
DIBS has become a popular easy financing package offered by property developers in joint-promotion activities with banks in recent years.

Under the scheme, buyers need not fork out much initial downpayment to buy properties, as the developer supposedly absorbs the initial interest. This is until the buyer takes possession of the property.

A high number of buyers enter this scheme with the intention of flipping the property when they gain possession of it, making a profit without having to come up with much capital in the process. Such a scenario fuels speculation.

“Typically, under the scheme, buyers only foot between 5% and 10% of the house price upon signing the sale and purchase (S&P) agreement and only begin payment when the project is completed,” a property consultant told StarBiz.

“There are caveats to this scheme, as buyers commit to a financial obligation upon the signing of the S&P and the interest cost has actually been already passed on to buyers via the higher selling prices.”

DIBS is mainly offered to the high-rise residential segment. Some property consultants have opined that the presence of DIBS in the market has caused prices to be set on an artificially higher trajectory.
Notably, the Singapore government banned DIBS in 2009.

“While the exact measures are yet to be revealed, we believe the curbs would impact this easy financing scheme,” HLIB said in a note yesterday.

According to analysts, most of the sales in the recent property bull cycle were tied to the attractive DIBS scheme at the expense of the secondary property market which has remained sluggish. And given the persistent rise in household debt, the Government is mulling over measures to limit it.

“In the recent past, Bank Negara has been compiling information on the scheme and studying its impact on the sector,” a source said.

Bank Negara had yet to respond to StarBiz’s queries as at press time.

“The difference between the non-DIBS and DIBS pricing can range from as low as 5% to as high as 30% if other incentives like early-bird discounts, stamp duty waivers and cash payments are taken into account,” said Elvin Fernandez, managing director of Khong & Jaafar group of companies.

He advocates regulators to compel developers to be transparent on the various incentives, as it may be difficult to do away with DIBS packages.

“Developers should inform buyers and bankers of the actual value of the discounts they are getting so that house buyers know the true value of the house they are buying,” he said.

UOB Kay Hian Research noted that new launches in selective high-rise projects in the suburbs of the Klang Valley were transacted at over RM1,000 per sq ft (psf) vis-a-vis RM450 psf two years ago.

“Household debt has risen to 80.5% of nominal gross domestic product as at end-December 2012, up from 60.4% as at end-2008.

“We also note that outstanding banking sector loans in the household sector has risen 3.6% year-to-date as at end-April to RM638.5bil from RM616.5bil as at December 2012. As the rise in consumer credit is partly linked to housing, curbs may be introduced to dampen speculation,” UOB Kay Hian said in a report yesterday.

On the financial impact of curbing DIBS on property companies, HLIB said that it would be “negative for future sales in the primary market but the extent of damage varies with the degree of exposure to the high-rise segment for each individual developer”.

UOB Kay Hian reckons that if DIBS or similar schemes were to be tightened, it could “significantly dampen new property launches as speculators will be filtered out”.

The company also does not rule out the possibility of a further upward revision in real properties gains tax (RPGT) to dampen speculation.

In Budget 2013, the Government had raised the RPGT for the second time since 2011, stipulating a 10% to 15% tax for the disposal of properties within two years of purchase, and 5% to 10% for the disposal of properties within three to five years. However, properties sold five years after purchase are exempted from the RPGT.

Beri tips urus kewangan - Bsn,Agrobank

PONTIAN 20 Jun - Sebut sahaja hutang, pasti ramai yang mengeluh kerana masalah itu membelenggu hampir setiap individu. Hakikatnya untuk memiliki barangan diingini, tidak semua mampu membelinya secara tunai dan pilihan yang ada adalah dengan cara berhutang.

Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/Johor/20130621/wj_02/Beri-tips-urus-kewangan
Published: Jun 24, 2013


ABU Hassan Alshari Yahaya (kiri) bersama Ahmad Maslan menunjukkan sisipan 
yang ditawarkan oleh bank dalam program Kesedaran dan Pendidikan Kewangan, baru-baru ini.

Namun, jika perkara ini tidak diuruskan dengan baik, masalah yang lebih besar pasti akan menanti peminjam termasuk diisytiharkan bankrap.

Bagi membantu rakyat menyelesaikan masalah tersebut, kerajaan memperkenalkan pelbagai program dan antaranya mewujudkan Laman Informasi Nasihat dan Khidmat (LINK) yang ditubuhkan oleh Bank Negara pada 2005 bagi menyediakan khidmat nasihat, bantuan dan pengurusan aduan kepada orang ramai.

Antara perkhidmatan yang diberikan adalah perbankan, insurans takaful dan pembiayaan yang disediakan untuk perusahaan kecil dan sederhana (PKS), maklumat mengenai kredit peribadi melalui Sistem Maklumat Rujukan Kredit Pusat (CCRIS).

Menurut Penolong Gabenor Bank Negara, Abu Hassan Alshari Yahaya yang ditemui Utusan Malaysia dalam Program Kesedaran dan Pendidikan Kewangan di Benut di sini baru-baru ini, LINK juga memberikan pendedahan dan kesedaran tentang jenayah kewangan seperti skim cepat kaya dan pelaburan haram.

Beliau berkata, sejak ditubuhkan, LINK menerima lebih 1.4 juta pertanyaan dan aduan daripada orang ramai menerusi pelbagai saluran.

Pada tahun lalu, BNM membantu seramai 409,468 individu dan usahawan manakala pada suku tahun pertama tahun ini pula, seramai 104,668 mendapat manfaat menerusinya.

"Ini menunjukkan LINK berjaya menepati objektif dan matlamat bagi memberikan kesedaran dan pendidikan kewangan kepada orang ramai supaya mereka dapat menguruskannya dengan baik.

"Seterusnya LINK telah melebarkan sayapnya mendekatkan perkhidmatan kepada masyarakat di kawasan luar bandar menerusi perkhidmatan bergerak atau MobileLINK dengan menggunakan sebuah bas khas," katanya.

Menurut Abu Hassan lagi, seramai 20,000 individu menerima manfaat menerusi perkhidmatan MobileLINK yang dilaksanakan di 72 buah mukim di seluruh negara tersebut.

Antara perkhidmatan yang disediakan MobileLINK adalah memberikan peluang kepada orang ramai membuka akaun, menyimpan dan mengeluarkan wang yang disediakan melalui pelbagai kaunter bank seperti Maybank, Bank Simpanan Nasional (BSN), AgroBank dan Bank Muamalat yang menawarkan pelbagai produk termasuk pembiayaan pelaburan, perniagaan, peribadi mahupun Sijil Simpanan Premium (SSP).

Dalam pada itu, orang ramai yang berkunjung ke program tersebut juga berpeluang mendapat khidmat nasihat dan membuat aduan tentang perbankan, insurans dan takaful bagi keluarga mahupun perniagaan.

"Pegawai dan kakitangan bank juga bersedia memberikan khidmat nasihat kepada pengunjung yang kurang arif mengenai sesuatu institusi kewangan, sekali gus merapatkan jurang perbankan dalam kalangan masyarakat di luar bandar," katanya.

Menurutnya, MobileLINK juga memberikan perkhidmatan kaunseling kepada individu yang menghadapi masalah pengurusan kewangan (hutang) serta mendidik mereka menanganinya.

Peranan tersebut dikendalikan oleh Agensi Kaunseling dan Pengurusan Kredit (AKPK), merupakan agensi di bawah BNM yang telah memberi khidmatnya kepada 219,995 individu sejak ditubuhkan pada 2007.

Dalam tempoh tersebut, kata Abu Hassan, sebanyak 89,450 kes telah dibawa kepada Program Pengurusan Hutang (PPH) manakala hingga April lalu, 11,998 individu dirujuk kepada AKPK dengan 5,348 dibawa kepada PPH.

"BNM merasakan perlunya mereka yang menghadapi krisis hutang yang serius diberikan bantuan serta pertolongan supaya mereka dapat keluar daripada masalah yang boleh menjejaskan kehidupan seharian," katanya.

Sementara itu, Timbalan Menteri Kewangan, Datuk Ahmad Maslan ketika merasmikan program tersebut berkata, bagi memudahkan orang ramai mendapatkan perkhidmatan perbankan, BNM telah memperkenalkan 'Ejen Perbankan' pada 2012.

Menurutnya, Ejen Perbankan merupakan saluran baharu bagi pihak institusi kewangan berlesen menawarkan perkhidmatan kepada pelanggan melalui ejen pihak ketiga seperti Pos Malaysia, stesen minyak, kedai runcit dan sebagainya.

"Kemudahan yang ditawarkan ialah transaksi penerimaan deposit, pengeluaran dan pemindahan wang, pembayaran bil dan bayaran balik pinjaman tanpa perlu pergi ke bandar bagi membuat urusan.

"Ini amat menepati slogan 1Malaysia, 'Rakyat Didahulukan, Pencapaian Diutamakan' agar orang ramai mudah untuk membuat urusan walaupun di mana sahaja mereka berada termasuk di kawasan luar bandar," katanya.

Beliau yakin langkah seumpama itu dapat menerapkan elemen 'celik' kewangan kepada orang ramai supaya tidak menyimpan wang di bawah bantal, tabung buluh dan tabung ayam, sebaliknya di tempat yang selamat.

Ahmad yang juga Ahli Parlimen Pontian berkata, lebih banyak program seumpama itu akan diadakan tahun ini bagi memberi peluang rakyat merasa 'dekat' dengan bank pada setiap waktu.

Steady short-term rates seen next week

Short-term rates are likely to be stable as Bank Negara Malaysia (BNM) is expected to continue its intervention exercise next week to stabilise the financial market, dealers said.

Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/20130622123504/Article/index_html
Published: Jun 23, 2013

They said the market was expected to be flushed with funds and BNM would call for tenders to absorb excess funds from the system.

For the week just-ended, the overnight, one-, two- and hree-week rates moved between 2.92 per cent and 3.04 per cent.

BNM intervened on a daily basis to mop up excess funds by conducting conventional, repo, range maturity auction and Al-Wadiah tenders.

It also called for late tenders to reduce the surplus and offered repo tenders on a daily basis.

Total liquidity surplus in conventional operations this week amounted to RM16.831 billion while excess in the Islamic system stood at RM5.258 billion.-- Bernama

New Legal Framework To Pave Way For Shariah Framework, Says Zeti

KUALA LUMPUR, June 20 (Bernama) -- The new legal framework for Islamic banking and takaful, that will come into force this year, will pave the way for the development of an end-to-end Shariah-compliant regulatory framework for the conduct of Islamic financial operations, says Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz.

Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=957539
Published: Jun 21, 2013

Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2013/6/21/business/13268893&sec=business
Published: Jun 16, 2013

The new framework would provide clarity on the fundamental requirements of Shariah that must be adhered to for the contractual arrangements between the financial institution and the customer to remain enforceable, she said.

"The framework also outlines the operational requirements for the effective application of Shariah principles in the conduct of Islamic financial institutions.

"This aims to strengthen the risk management practices beyond the traditional credit, market and liquidity risks to also include inventory risk, ownership risk and Shariah compliance risk," Zeti said at the opening of the Brunei Darussalam Islamic Investment Summit 2013.

The text of her speech titled, "Regulatory and Governance For Islamic Finance", was made available here Thursday.

She said the legislation also provided for the resolution of Islamic financial institutions to be in line with distinctive elements of the relevant Islamic contracts, thus improving the legal and procedural aspects for the orderly resolution of Islamic financial institutions.

On the Islamic finance development, Zeti said the new wave of internationalisation for Islamic finance required increased collaboration across jurisdictions to strengthen the international financial infrastructure of Islamic finance.

"This is to ensure that the greater internationalisation of Islamic finance takes place in an environment of financial stability," she added.

At the national level, Zeti said the first priority relates to trend for the domestic Islamic financial system to become more integrated, allowing for risks to be rapidly transmittal, across the financial system.

"This requires the development of enhanced regulatory, supervisory and legal frameworks that are also adaptive and effective to the innovative dynamics and unique mix of risks in Islamic finance," she said.

Zeti said the increased cross-border reach of Islamic finance has also underscored the importance of enhanced cross-border collaboration among the supervisory authorities.

"Information-sharing and effective coordination among supervisors will enable a complete understanding of the entire risk spectrum of the risk taking activities undertaken across jurisdictions by the Islamic financial institutions," she added.

Another key area is the evolution of the legal framework for Islamic finance to provide greater certainty and to build public confidence in the system as a whole, said Zeti.

"This necessitates a legal framework that enforces end-to-end Shariah compliance in the Islamic financial services industry - through provisions and mechanisms that unambiguously define the conduct and governance of Islamic financial institutions," she added.

Zeti also said with greater liberalisation, Islamic finance was increasingly supporting regional and international trade and investment flows, intermediating significant cross-border financial flows.

"With its internationalisation, Islamic finance has become an increasingly more important channel for the efficient allocation of Asia's surplus funds towards productive investments in the region," she added.

Zeti also said efforts to strengthen the foundations for Islamic finance to ensure its continued resilience, amid the more challenging environment, must remain a priority going forward into the future.

"Indeed, our commitment to act guided by this foresight will strengthen the prospect for Islamic finance to realise its potential in the region and beyond," the governor added.

-- BERNAMA 

Rangka Kerja Perundangan Baharu Buka Jalan Rangka Kerja Syariah, Kata Zeti

KUALA LUMPUR, 20 Jun (Bernama) -- Rangka kerja perundangan baharu untuk perbankan Islam dan takaful, yang akan berkuat kuasa tahun ini, akan membuka jalan bagi pembangunan rangka kerja kawal selia yang mematuhi Syariah yang menyeluruh bagi menjalankan operasi kewangan Islam, kata Gabenor Bank Negara Malaysia Tan Sri Dr Zeti Akhtar Aziz.

Source from (Bernama): http://www.bernama.com/bernama/v7/bm/bu/newsbusiness.php?id=957569
Published: Jun 21, 2013

Rangka kerja baharu itu akan menjelaskan keperluan asas Syariah yang mesti dipatuhi untuk perjanjian kontrak antara institusi kewangan dan pelanggan untuk kekal boleh dikuatkuasakan, katanya.

"Rangka kerja ini juga menggariskan keperluan operasi untuk aplikasi prinsip-prinsip Syariah yang berkesan dalam mengendalikan institusi kewangan Islam.

"Ia bertujuan untuk mengukuhkan amalan pengurusan risiko di luar risiko mudah tunai, pasaran dan kredit tradisional untuk turut termasuk risiko inventori, risiko pemilikan dan risiko pematuhan Syariah," kata Zeti pada pembukaan Sidang Kemuncak Pelaburan Islam Brunei Darussalam 2013.

Teks ucapan beliau bertajuk,"Pengawalseliaan dan Tadbir Urus Bagi Kewangan Islam", telah dikeluarkan di sini Khamis.

Beliau berkata perundangan itu juga menyediakan ketetapan institusi-institusi kewangan Islam untuk seiring dengan unsur-unsur tersendiri kontrak yang berkaitan Islam, sekali gus meningkatkan aspek-aspek perundangan dan prosedur untuk penyelesaian teratur bagi institusi kewangan Islam.

Mengenai pembangunan kewangan Islam, Zeti berkata gelombang baharu pengantarabangsaan kewangan Islam memerlukan peningkatan kerjasama di seluruh bidang kuasa untuk mengukuhkan infrastruktur kewangan antarabangsa kewangan Islam.

"Ini untuk memastikan pengantarabangsaan kewangan Islam yang lebih luas berlaku dalam persekitaran kestabilan kewangan," katanya.

Di peringkat negara, Zeti berkata keutamaan pertama berkait dengan trend bagi sistem kewangan Islam domestik akan menjadi lebih bersepadu, membolehkan risiko lebih cepat disebar, di seluruh sistem kewangan.

"Ini memerlukan pembangunan peningkatan rangka kerja pengawalan, penyeliaan dan undang-undang yang juga sesuai dan berkesan untuk gabungan risiko unik dan dinamik inovatif dalam kewangan Islam," katanya.

Zeti berkata peningkatan jangkauan merentas sempadan kewangan Islam juga telah menekankan kepentingan meningkatkan kerjasama rentas sempadan antara pihak berkuasa penyeliaan.

"Perkongsian maklumat dan penyelarasan yang berkesan dalam kalangan pengawalseliaan akan membolehkan pemahaman yang lengkap keseluruhan spektrum risiko aktiviti pengambilan risiko yang dilaksanakan di seluruh bidang kuasa oleh institusi kewangan Islam," katanya.

Satu lagi bidang penting ialah evolusi kerangka perundangan bagi kewangan Islam untuk meningkatkan keyakinan dan untuk membina keyakinan orang ramai secara keseluruhan, kata Zeti.

"Ini memerlukan satu rangka kerja undang-undang yang menguatkuasakan pematuhan secara menyeluruh Syariah dalam industri perkhidmatan kewangan Islam - melalui peruntukan dan mekanisme yang jelas menentukan pelaksanaan dan tadbir urus institusi kewangan Islam," katanya.

Zeti berkata dengan liberalisasi yang lebih besar, kewangan Islam semakin menyokong aliran pelaburan dan perdagangan serantau dan antarabangsa, pengantara aliran kewangan merentas sempadan yang penting.

"Dengan pengantarabangsaannya, kewangan Islam telah menjadi saluran yang semakin penting bagi pengagihan secara berkesan bagi dana lebihan Asia ke arah pelaburan yang produktif di rantau ini," tambah beliau.

Zeti juga berkata usaha untuk mengukuhkan asas-asas kewangan Islam untuk memastikan ia terus berdaya tahan dalam persekitaran yang lebih mencabar, mesti kekal sebagai satu keutamaan untuk bergerak ke hadapan.

"Malah, komitmen kita untuk bertindak berpandukan berpandangan jauh ini akan mengukuhkan prospek bagi kewangan Islam untuk merealisasikan potensi di rantau ini dan seterusnya," kata Gabenor itu.

-- BERNAMA

Bank Negara's Reserves At RM435 Billion As At June 14

KUALA LUMPUR, June 21 (Bernama) -- Bank Negara Malaysia's (BNM) international reserves totalled RM435 billion, equivalent to US$140.8 billion as at June 14.

Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=957817
Published: Jun 21, 2013

In a statement today, the central bank said the reserves position was sufficient to finance 9.4 months of retained imports and was 4.3 times the short-term external debt.

It said the international reserves comprised foreign currency reserves of US$127.6 billion, International Monetary Fund reserves (US$900 million), Special Drawing Rights (SDRs) (US$1.9 billion), gold (US$1.9 billion) and other reserve assets (US$8.5 billion).

BNM's total assets, including international reserves, stood at RM484.274 billion.

Its other assets include Malaysian government papers of RM1.934 billion, deposits with financial institutions (RM29.29 billion), loans and advances (RM9.105 billion) and other assets (RM8.972 billion).

BNM's Capital and liabilities comprised paid-up capital of RM100 million, general reserve fund (RM29.188 billion), currency in circulation (RM68.197 billion), deposits by financial institutions (RM221.159 billion), federal government deposits (RM9.837 billion), other deposits (RM4.182 billion), Bank Negara papers (RM125.952 billion), allocation of SDRs (RM6.249 billion) and other liabilities (RM19.407 billion).

-- BERNAMA 

Rizab Bank Negara Sebanyak RM435 Bilion Pada 14 Jun

KUALA LUMPUR, 21 Jun (Bernama) -- Rizab Antarabangsa Bank Negara Malaysia (BNM) berjumlah RM435 bilion, bersamaan US$140.8 bilion pada 14 Jun 2013.

Source from (Bernama): http://www.bernama.com/bernama/v7/bm/bu/newsbusiness.php?id=957824
Published: Jun 21, 2013

Menerusi satu kenyataan Juamaat, Bank Pusat itu berkata paras rizab ini memadai untuk membiayai 9.4 bulan import tertangguh dan 4.3 kali hutang luar negeri jangka pendek.

Ia berkata rizab antarabangsa itu membabitkan rizab mata wang asing sebanyak US$127.6 bilion, rizab Dana Kewangan Antarabangsa (US$900 juta), Hak Pengeluaran Khas (SDR) (US$1.9 bilion), emas (US$1.9 bilion) dan aset-aset lain (US$8.5 bilion).

Jumlah aset BNM termasuk rizab antarabangsa sebanyak RM484.274 bilion.

Aset lain termasuk kertas kerajaan Malaysia sebanyak RM1.934 bilion, deposit dengan institusi kewangan (RM29.29 bilion), pinjaman dan pendahuluan (RM9.105 bilion) dan aset lain (RM8.972 bilion).

Liabiliti dan Modal BNM yang meliputi modal berbayar sebanyak RM100 juta, dana rizab am (RM29.188 bilion), mata wang dalam edaran (RM68.197 bilion), deposit oleh institusi kewangan (RM221.159 bilion), deposit kerajaan persekutuan (RM9.837 bilion), deposit lain (RM4.182 bilion), kertas Bank Negara (RM125.952 bilion), peruntukan SDR (RM6.249 bilion) dan liabiliti lain (RM19.407 bilion).

-- BERNAMA

Guru rugi RM46,400 ditipu ‘pegawai’ Bank Negara

Sabak Bernam: Seorang guru berusia 34 tahun terpaksa menanggung kerugian kira-kira RM46,400 apabila ditipu seorang individu yang mengaku ‘pegawai’ dari Bank Negara kerana mendakwa mangsa mempunyai tunggakan kad kredit, 14 Jun lalu.

Source from (Utusan Malaysia): http://www.hmetro.com.my/myMetro/articles/GururugiRM46_400ditipu__8216_pegawai__8217_BankNegara/Article/index_html
Published: Jun 20, 2013

Seperti kes yang dilaporkan media sebelum ini, mangsa juga dihubungi ‘pegawai’ bank berkenaan yang menyatakan dia perlu membayar tunggakan kad kredit berjumlah RM4,630 sekiranya tidak mahu akaun banknya dibekukan.

Tanpa berfikir panjang selain bimbang akaunnya benar-benar dibekukan, mangsa kemudian mengeluarkan semua wang simpanan miliknya di dua bank berjumlah RM42,000.

Suspek yang dipercayai sudah berpengalaman menjalankan penipuan menggunakan modus operandi sama hanya memberi arahan melalui telefon dan meminta mangsa mendepositkan wang simpanannya ke dalam sebuah akaun sementara.

Ketua Polis Daerah Sabak Bernam Superintendan Noor Mushar Mohamad berkata, sebelum memasukkan wangnya ke dalam satu akaun, mangsa dihubungi seorang wanita dan lelaki yang kedua-duanya mengaku daripada sebuah bank terkemuka.

Menurutnya, wanita dan lelaki terbabit mendakwa mangsa mempunyai tunggakan bayaran kad kredit dengan bank berkenaan sebelum mangsa dihubungi seorang lagi lelaki yang mengaku sebagai ‘pegawai’ daripada Jabatan Siasatan Pusat Pengurusan Kad Palsu Bank Negara Malaysia.

“Mangsa pada mulanya curiga selepas didakwa mempunyai tunggakan bayaran kad kredit kerana mangsa tidak pernah memohon kad kredit,” katanya.

Pasaran wang ditutup kukuh campur tangan BNM

KUALA LUMPUR 17 Jun - Kadar jangka pendek ditutup kukuh hari ini dengan Bank Negara Malaysia (BNM) campur tangan dalam pasaran wang untuk menyerap lebihan mudah tunai daripada sistem kewangan.

Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/Ekonomi/20130617/ek_17/Pasaran-wang-ditutup-kukuh-campur-tangan-BNM
Published: Jun 19, 2013

Kadar semalaman kekal pada 2.92 peratus sementara kadar satu, dua dan tiga minggu, masing-masing pada 2.97 peratus, 3.01 peratus dan 3.04 peratus.

Lebihan mudah tunai dalam operasi konvensional telah dikurangkan kepada RM16.633 bilion daripada RM22.11 bilion terdahulu sementara dalam sistem kewangan, ia turun kepada RM2.442 bilion daripada RM6.584 bilion.

Terdahulu, bank pusat telah memanggil empat tender semalaman konvensional dan empat tender Al-Wadiah dan satu tender repo.

BNM turut menerbitkan tender konvensional lewat untuk RM15.8 bilion dan RM2.4 bilion Al-Wadiah, kedua-duanya untuk wang satu hari. - BERNAMA

Hutang isi rumah meningkat - BSN

PONTIAN 15 Jun - Pinjaman perumahan dan kenderaan serta penggunaan kad kredit membuatkan golongan berpendapatan rendah dan penjawat awam negara ini berada dalam nisbah hutang lebih tinggi, sekali gus meningkatkan bebanan isi rumah.

Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/Dalam_Negeri/20130616/dn_05/Hutang-isi-rumah-meningkat
Published: Jun 16, 2013


Ahmad Maslan mengisi borang pembukaan akaun Bank Simpanan Nasional 
pada Program Kesedaran dan Pendidikan Kewangan bersama Bank Negara Malaysia 
di Benut, Pontian, Johor.

Timbalan Menteri Kewangan, Datuk Ahmad Maslan berkata, hutang isi rumah yang kini mencecah RM800 bilion atau 89.2 peratus daripada Keluaran Dalam Negara Kasar (KDNK) itu turut disumbangkan oleh hutang berpanjangan golongan berpendapatan bawah RM3,000 yang meminjam daripada institusi bukan bank seperti koperasi.

"Walaupun belum sampai ke tahap kritikal, usaha sedang dilakukan bagi membantu mereka menguruskan kewangan dengan lebih baik melalui kesedaran dan pendidikan Laman Informasi Nasihat dan Khidmat (LINK) yang diusahakan Bank Negara.

"Amalan gaya hidup mewah bukan sahaja berlaku di Malaysia tetapi negara lain, namun kerajaan melakukan pencegahan sebelum bertambah parah kerana ramai berbuat demikian walaupun mengetahui kemampuan kewangan mereka terbatas," katanya.

Beliau berkata demikian kepada pemberita selepas merasmikan Program Kesedaran dan Pendidikan Kewangan, Kaunter Bergerak BNMLINK yang diadakan dengan kerjasama Pejabat Daerah Pontian di Dewan Serbaguna Benut di sini hari ini.

Yang turut hadir, Penolong Gabenor Bank Negara, Abu Hassan Alshari Yahya dan Pegawai Daerah Pontian, Muji Salimon.

Ahmad yang juga Ahli Parlimen Pontian berkata, trend gaya hidup mewah membimbangkan kerana ramai sanggup berhutang bagi mendapatkan sesuatu yang diminati seperti telefon bimbit, beg tangan, pakaian berjenama dan kenderaan mewah.

"Agensi Kaunseling dan Pengurusan Kredit (AKPK) telah memberikan khidmat kaunseling kepada 219,995 individu sejak 2007 dengan 89,450 kes dibawa kepada Program Pengurusan Hutang. Ini menunjukkan mereka boleh mengawal tetapi terperangkap dengan gaya hidup," katanya.

Dalam perkembangan lain, isu harga rumah yang tinggi akan dibangkitkan dalam perbincangan Bajet 2014 pada minggu hadapan melibatkan beberapa perkara seperti kos bahan binaan dan infrastruktur yang ditanggung oleh pemaju sehingga mendakwa tidak mendapat banyak keuntungan.

Zeti Urges Nations To Be Prepared To Face Easing Of US Stimulus Programme

KUALA LUMPUR, June 14 (Bernama) -- Countries have to position themselves to better absorb the volatility generated by the tapering off of US quantitative easing exercise, Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz said.

Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=956102
Published: Jun 16, 2013

She said the financial markets would converge towards a more stable condition as the global economy recovered.

"Any such volatility is therefore envisaged to be temporary," she told reporters here Friday.

The market turned cautious in recent weeks due to persistent speculation about the US Federal Reserve withdrawing its stimulus programme.

"Any tapering off would occur because there is recovery in their economy. It is known that this would eventually happen one day.

"In fact, the monetary easing policy of having rates too low for too long has other risks associated with it.

"What is important is that this should be undertaken in a very orderly manner without disrupting in a major way the international financial markets," said Zeti.

On the concerns over the narrowing balance of payments, current account surplus, Zeti said, the major economies, including the US and Japan, were stabilising, export growth were expected to recover.

"In any event, what is important to recognise is for many years that we had a very significant surplus.

"We have been able to build up our reserves which are now in very strong position of over US$140 billion equivalent and these are important in supporting our external position," she said.

Zeti said the country would also benefit from the better investment climate and the improved cost of doing business, and that Malaysia continued to receive a steady inflow of foreign direct investment.

"This is the longer term inflows that could finance, in the event that we have a current account deficit. Therefore it does not represent a concern," she said.

On currency volatility, Zeti said, the financial market players had to be prepared in order to be able to absorb the volatility in the current environment.

"Our mandate is maintaining orderly foreign exchange market conditions. While we see depreciation now but over time the medium term what is important is that it reflects our underlying fundamentals which continues to remain positive," she said.

-- BERNAMA

Zeti Gesa Semua Negara Bersedia Hadapi Pengenduran Program Rangsangan As

KUALA LUMPUR, 14 Jun (Bernama) -- Semua negara perlu mempersiapkan diri untuk menyerap keadaan turun naik yang tercetus ekoran pengenduran program suntikan mudah tunai Amerika Syarikat (AS )dengan lebih baik, kata Gabenor Bank Negara Malaysia, Tan Sri Dr Zeti Akhtar Aziz.

Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/Ekonomi/20130614/ek_04/Zeti-gesa-sedia-hadapi-pengenduran-rangsangan-AS
Published: Jun 16, 2013

Source from (Bernama): http://www.bernama.com/bernama/v7/bm/bu/newsbusiness.php?id=956127
Published: Jun 16, 2013

Beliau berkata pasaran kewangan akan bertumpu ke arah keadaan yang lebih stabil apabila ekonomi pulih.

"Sebarang keadaan tidak menentu begini dijangkakan sementara sahaja," katanya kepada pemberita di sini Jumaat.

Pasaran menjadi berhati-hati dalam minggu-minggu kebelakangan ini disebabkan oleh spekulasi berterusan tentang ura-ura Rizab Persekutuan AS menarik balik program rangsangannya itu.

"Pengenduran ini berlaku kerana ekonomi semakin pulih. Sudah diketahui bahawa ini akhirnya akan berlaku juga satu hari nanti.

"Malah, dasar pengenduran monetari dengan menurunkan kadar terlalu rendah bagi jangka masa terlalu panjang turut mempunyai risiko-risiko lain.

"Apa yang terjadi ialah, ini harus dilakukan dengan cara yang amat teratur dan inilah yang mahukan, iaitu ia berlaku secara teratur tanpa terlalu mengganggu pasaran kewangan antarabangsa," kata Zeti.

Mengenai kebimbangan tentang imbangan perdagangan yang sempit dan lebihan akaun semasa, Zeti berkata ekonomi-ekonomi semasa, termasuk AS dan Jepun, kini mula stabil, pertumbuhan eksport dijangka pulih.

"Bagaimanapun, apa yang penting disedari ialah sejak bertahun-tahun lamanya kita mengalami lebihan yang sangat ketara.

"Kita telah berjaya membina rizab kita yang kini berada pada kedudukan yang sangat kukuh, bersamaan lebih US$140 bilion dan ini penting dalam menyokong kedudukan luar negara kita," tegas beliau.

Zeti berkata negara akan meraih faedah daripada iklim pelaburan dan kos menjalankan perniagaan yang lebih baik, dan Malaysia terus menerima pengaliran masuk pelaburan langsung asing.

"Ini adalah pengaliran masuk jangka panjang yang boleh menampung pembiayaan jika kita mengalami defisit akaun semasa. Jadi, ia sesuatu yang membimbangkan," katanya.

Mengenai keadaan turun naik mata wang, Zeti berkata peserta pasaran kewangan perlu bersiap sedia untuk menyerap keadaan turun naik ini dalam persekitaran semasa.

"Mandat kita ialah mengekalkan keadaan pasaran pertukaran asing yang teratur. Walaupun kita menyaksikan penyusutan tetapi dalam jangka sederhana, apa yang penting ialah ia mencerminkan asas dasaran kita yang kekal positif," tegas Zeti.

-- BERNAMA

Zeti: Narrowing trade balance not a concern

KUALA LUMPUR: Bank Negara Malaysia is not concerned by the narrowing trade balance and the risk of a trade deficit at the moment.

Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/20130615004729/Article/index_html
Published: Jun 16, 2013

Governor Tan Sri Dr Zeti Akhtar Aziz said besides a strong build-up in the central bank’s reserves to more than US$140 billion (RM438 billion), the steady flow of foreign direct investments (FDIs) should support the country’s external position.

“At this point, (the risk of falling into a deficit) does not represent a concern,” she said.

While exports have been on a negative mode in the first four months of 2013, there has been strong growth in imports, causing the current account surplus to narrow.

“The strong growth in imports reflects strong investment activities taking place,” she said at the release of the Labuan Financial Services Authority’s annual report here yesterday.

Zeti pointed out that conditions are stabilising in advanced economies, namely the United States and Japan, which will lead to a resumption in export growth.

Malaysia’s exports fell 3.3 per cent year-on-year in April, the third straight month of decline, signalling a continued contraction in the short term. Based on three-month moving average, the decline widened further by 5.4 per cent in April (from -3.1 per cent in March), suggesting a short-term weakness in the country’s overseas shipments.

Should external demand weaken further due to a delay in the recovery of major economies that form Malaysia’s major trading partners, exports will continue to contract.

Zeti said Malaysia is well able to absorb and manage increased volatility in the global financial markets as its financial sector has reached a “better degree of maturity” that can deal with volatile inflow and outflow without being destabilised.

However, she said financial players must be prepared and well-positioned to absorb greater volatility in future.

The uncertainties may not only be due to major economies but also policies undertaken by policymakers, which have led to significant spillovers to other parts of the world.

She attributed the country’s economic resilience to the sustained strength of domestic demand.

“In terms of domestic consumption, it is growing at seven per cent, while investments are (growing) more than 10 per cent.”

On concerns of a depreciating ringgit, Zeti stressed that Bank Negara does not look to support the currency at any specific level of the exchange rate.

“From time to time, you may see it move in one direction of strengthening and when the reversal happens you see a depreciation, but over the medium term, what is important is, it should reflect the fundamentals.”

On the tapering of the US quantitative easing stimulus, Zeti said it should be undertaken in an orderly manner without disrupting the international financial markets.

At the same time, countries have to position themselves to better able absorb volatility.

“But as the economy recovers, the financial markets will converge towards a more stable condition... so any such volatility envisaged will be temporary,” she said.

Sedia hadapi ketidaktentuan ekonomi - Zeti

KUALA LUMPUR 14 Jun - Setiap negara perlu bersedia untuk menghadapi ketidaktentuan ekonomi dan pasaran setelah Amerika Syarikat (AS) dikatakan berhasrat untuk mengurangkan pakej rangsangan ekonominya.

Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/Ekonomi/20130615/ek_02/Sedia-hadapi-ketidaktentuan-ekonomi----Zeti
Published: Jun 16, 2013

Gabenor Bank Negara Malaysia, Tan Sri Zeti Akhtar Aziz bagaimanapun berkata, sebarang ketidaktentuan dijangka hanya berlaku sementara sahaja.

"Pengurangan pakej rangsangan terjadi kerana ekonomi sudah pulih, ia akan berlaku juga suatu hari nanti, cuma ia perlu ditangani dengan baik bagi mengelakkan berlakunya kekacauan terhadap pasaran kewangan," katanya semasa sidang akhbar selepas membentangkan Laporan Tahunan Lembaga Perkhidmatan Kewangan Labuan 2012, di sini hari ini.

Pasaran menjadi tidak menentu beberapa minggu lalu apabila terdapat spekulasi yang mengatakan Rizab Persekutuan AS akan menghentikan program rangsangan ekonominya.

Mengulas mengenai imbangan perdagangan yang semakin mengecil, Zeti berkata, ia bukan satu perkara yang perlu dibimbangkan kerana beberapa negara eksport utama seperti AS dan Jepun telah mula menunjukkan tanda-tanda pemulihan.

Tambahnya, Malaysia juga mempunyai rizab antarabangsa yang tinggi iaitu AS$140 bilion yang mana ia penting bagi menyokong kedudukan luar negara Malaysia.

"Eksport menguncup selama empat bulan berturut-turut kerana kelembapan ekonomi global, manakala kerancakan aktiviti pelaburan domestik pula telah meningkatkan import, ini menyebabkan berlakunya penyusutan lebihan dagangan.

"Apa yang penting adalah negara-negara utama seperti AS dan Jepun telah menunjukkan tanda-tanda pemulihan dan apabila mereka semakin stabil, pertumbuhan eksport Malaysia juga akan kembali pulih," jelasnya.

Lebihan dagangan Malaysia merekodkan paras terendah dalam tempoh 15 tahun pada April lalu.
Manakala kelembapan eksport pula telah memberi tekanan kepada ringgit sehingga menyebabkan mata wang negara itu susut hampir satu peratus berbanding dolar Amerika minggu ini.

Labuan IBFC poise to enjoy robust growth this year

KUALA LUMPUR: The performance of Labuan Financial Services Authority (Labuan FSA) is expected to grow in 2013 due to the continuation in the growth trajectory across key business sectors.

Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2013/6/15/business/13243264&sec=business Published: Jun 16, 2013

Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/rup144/Article/
Published: Jun 16, 2013

Zeti: ‘These industries are experiencing solid growth and, as a result, Labuan has benefited.’

 

KUALA LUMPUR: The performance of Labuan Financial Services Authority (Labuan FSA) is expected to grow in 2013 due to the continuation in the growth trajectory across key business sectors.

Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz said the growth would be underpinned by businesses including leasing activities, foundations, insurance and Islamic finance.

She said the growth would be seen in all segments in the Labuan International Business and Financial Centre (Labuan IBFC).

“Many of these activities evolve because of the investment activities going on in the Asian region including in infrastructure, aviation as well as oil and gas (O&G). These industries are experiencing solid growth and, as a result, Labuan has benefited from this,” Zeti told a media conference on the Labuan FSA Annual Report 2012.

The Labuan IBFC houses 59 banks, 203 insurance and insurance-related companies, 257 leasing companies and 37 trust companies.

In 2012, Labuan foundations increased by 62.5% to 65 foundations from 40 the year before.
During the year, registration of companies in IBFC also recorded a growth of 8.9% or 779 companies, bringing the total number of companies to 9,487 as of December 2012.

Up to May 31, 2013, the number had increased to 9,811, in tandem with the favourable economic growth in Asia, with more than 50% of the Labuan companies originating from this region.

“Labuan, which is strategically located in the centre of Asia, is well-positioned to serve as a gateway for advancing investment activities in the region.

“In 2012, companies that were incorporated in Labuan could now seek listing on the Hong Kong Stock Exchange to tap the growing opportunity in Asia,” said Zeti.

The ratio of gross non-performing loans of Labuan banks improved to 1.3% in 2012 from 1.5% in the previous year.

The industry's average risk-weighted capital ratio and core capital ratio stood at 20.6% and 20.5%, respectively.

Overall, the banking sector's asset base grew to US$42.1bil (RM131.21bil) from US$38.3bil (RM119.36bil) in 2011.

Correspondingly, loan and advances continued to expand during the year, with non-residents nominated the majority of 60.6% of the total loan outstanding.

The Labuan banking sector also posted an increase of 41.2% in its pre-tax profit for 2012.

The total assets for Labuan insurance entities jumped 16% to US$4.2bil and total gross premium grew to US$1.7bil, with non-resident business constituting a higher share of 53.9%.

In 2012, two large reinsurance companies relocated their branches to Labuan IBFC from Europe to focus their businesses on the Asia and Oceania region.

Labuan's leasing business saw 41 new leasing companies being approved.

The continued rising demand for leasing facilities, particularly in the O&G and aviation sectors, had contributed to the expansion in the sector's cumulative asset leased valued at US$32.4bil from US$27.6bil previously. Bernama

Bank Negara Wants More Banks To Join Agent Banking Programme - BSN

KUALA KRAI, June 14 (Bernama) -- Bank Negara Malaysia (BNM) wants more financial institutions to participate in the agent banking programme which will benefit those living in rural areas where it was difficult to enjoy banking services.

Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=956212
Published: Jun 16, 2013

Its director of development financial and enterprise department, Kamari Zaman Juhari, said since its introduction in 2010, only three banking groups -- Malayan Banking, RHB Bank and Bank Simpanan Nasional (BSN) -- had participated in the programme.

"We want to encourage more banks to join and now many of them have shown interest.

"An institution will undertake a detailed study before deciding to participate in the programme which has received an encouraging response from those living in the rural areas," he told reporters after officiating BSN's two-day community programme here today.

Also present were BSN's senior vice-president/head of community business department, Azaddin Ngah Tasir.

Kamari Zaman said at end-April this year, the banks had appointed over 4,000 agents like Pos Malaysia Bhd, petrol stations, sundry shops and telecommunication companies' agents, involving transactions of over RM760 million.

"Since the introduction of this service, over 86 per cent of the districts in the country have access to the banking services compaerd with only 46 per cent at end-2011.

He said Maybank, CIMB and Public Bank cooperated with telecommunication companies early this year to offer MyMobile service to mobile phone users.

"About 100,000 users are using the service involving RM4.2 million in transactions," he said.

Meanwhile, Azaddin said BSN has over 4,000 registered bank agents nationwide handling over 6.5 million transactions worth RM580 million

He said the registered bank agent service was an innovative service offered by BSN to help those in the rural areas which had no banking services.

-- BERNAMA 

Prestasi Labuan FSA lebih baik

PRESTASI Lembaga Perkhidmatan Kewangan Labuan (Labuan FSA) dijangka meningkat pada 2013 berdasarkan kesinambungan dalam trajektori pertumbuhan dalam keseluruhan sektor perniagaan utamanya.

Source from (Sinar Online): http://www.sinarharian.com.my/bisnes/prestasi-labuan-fsa-lebih-baik-1.171330
Published: Jun 16, 2013



Gabenor Bank Negara Malaysia Tan Sri Dr Zeti Akhtar Aziz berkata pertumbuhan itu akan disokong oleh perniagaan termasuk aktiviti pajakan, asas, insurans dan kewangan Islam.
  
Beliau berkata pertumbuhan itu akan dilihat dalam semua segmen dalam Pusat Perniagaan dan Kewangan Antarabangsa Labuan (Labuan IBFC).
  
"Banyak daripada aktiviti-aktiviti ini berkembang berikutan pelbagai aktiviti pelaburan berlaku di rantau Asia, termasuk dalam infrastruktur, penerbangan serta minyak dan gas.
  
"Industri berkenaan mengalami pertumbuhan kukuh dan manfaatnya sekali gus dinikmati oleh Labuan," kata Zeti pada persidangan media di sini mengenai Laporan Tahunan Labuan FSA 2012.
  
Labuan IBFC menempatkan 59 bank, 203 syarikat insurans dan berkaitan insurans, 257 syarikat pajakan dan 37 syarikat amanah.
  
Pada 2012, asas Labuan meningkat 62.5 peratus kepada 65 berbanding 40 sebelumnya.
  
Pada tahun itu, pendaftaran syarikat di IBFC juga mencatatkan pertumbuhan 8.9 peratus atau 779 syarikat, menjadikan jumlah syarikat kepada 9,487 pada Disember 2012.
  
Sehingga hingga 31 Mei, 2013, bilangannya meningkat kepada 9811, selaras dengan pertumbuhan ekonomi yang menggalakkan di Asia, dengan lebih daripada 50 peratus syarikat Labuan berasal dari rantau ini.
  
"Labuan, yang terletak di tengah-tengah Asia, berada pada kedudukan yang strategik untuk memain peranan sebagai gerbang untuk aktiviti pelaburan canggih di rantau ini.
  
"Pada 2012, syarikat yang diperbadankan di Labuan kini boleh membuat penyenaraian di Bursa Saham Hong Kong untuk memanfaatkan peluang yang semakin meningkat di Asia," kata Zeti.
  
Nisbah pinjaman tidak berbayar kasar bank-bank Labuan bertambah baik kepada 1.3 peratus pada 2012 berbanding 1.5 peratus pada tahun sebelumnya.
  
Nisbah modal berwajaran risiko purata industri dan nisbah modal teras masing-masing mencatatkan 20.6 peratus dan 20.5 peratus.
  
Secara keseluruhannya, asas aset sektor perbankan meningkat kepada US$42.1 bilion berbanding US$38.3 bilion pada 2011.
  
Sejajar itu, pinjaman dan pendahuluan terus berkembang pada tahun ini dengan bukan pemastautin mendominasi majoriti 60.6 peratus daripada jumlah baki pinjaman.
  
Sektor perbankan Labuan juga mencatatkan peningkatan 41.2 peratus dalam keuntungan sebelum cukai bagi 2012
  
Jumlah aset bagi entiti insurans Labuan melonjak 16 peratus kepada US$4.2 bilion dan jumlah premium kasar meningkat kepada US$ 1.7 bilion, dengan bahagian perniagaan bukan pemastautin lebih tinggi sebanyak 53.9 peratus.
  
Pada 2012, kedua-dua syarikat insurans semula memindahkan cawangan masing-masing ke Labuan IBFC dari Eropah untuk memfokuskan perniagaan mereka di rantau Asia dan Oceania.
  
Perniagaan pemajakan Labuan menyaksikan 41 syarikat pemajakan baharu diluluskan.
  
Permintaan yang terus meningkat bagi kemudahan pajakan, terutama dalam sektor minyak dan gas dan penerbangan, menyumbang kepada peningkatan aset pajakan terkumpul sebanyak US$32.4 bilion berbanding US$27.6 bilion sebelumnya. - Bernama

BNM Mahu Galakkan Lebih Banyak Institusi Kewangan Sertai Perbankan Ejen - BSN

KUALA KRAI, 14 Jun (Bernama) -- Bank Negara Malaysia (BNM) mahu lebih banyak institusi kewangan di negara ini menyertai program perbankan ejen yang banyak memberi kebaikan, terutama kepada penduduk yang tinggal di pedalaman dan sukar mendapatkan perkhidmatan bank.

Source from (Bernama): http://www.bernama.com/bernama/v7/bm/bu/newsbusiness.php?id=956213
Published: Jun 16, 2013

Pengarah Jabatan Kewangan Pembangunan dan Enterpris BNM Kamari Zaman Juhari berkata sejak diperkenalkan pada 2010, hanya tiga institusi kewangan - Maybank, RHB Bank dan Bank Simpanan Nasional (BSN) - mengambil bahagian dalam menyediakan perbankan ejen.

"Kita mahu menggalakkan lebih banyak lagi bank-bank menyertainya, dan kini sudah pun ada beberapa institusi kewangan lain yang telah menyatakan minat masing-masing.

"Beberapa kajian lengkap akan dilakukan terlebih dahulu sebelum institusi kewangan itu menyertai perbankan ejen, yang mendapat sambutan sangat menggalakkan daripada penduduk, terutama di pedalaman," katanya kepada pemberita selepas merasmikan Program BSN Bersama Komuniti di Kampung Kemubu, Dabong di sini Jumaat.

Turut hadir pada program selama dua hari itu Naib Presiden Kanan/Ketua Jabatan Perniagaan Komuniti BSN Azaddin Ngah Tasir.

Kamari Zaman berkata pada akhir April lepas, sebanyak 4,255 ejen dilantik oleh institusi kewangan yang menyertainya, seperti Pos Malaysia Berhad, stesen minyak, kedai runcit dan kedai ejen telekomunikasi, dengan jumlah transaksinya kini melebihi 5 juta orang bernilai lebih RM760 juta.

"Sejak perbankan ejen ini diperkenalkan, lebih 86 peratus dari jumlah mukim di Malaysia (721 daripada 837 mukim) kini mempunyai akses kepada perkhidmatan perbankan asas berbanding hanya 46 peratus pada akhir 2011. Ini adalah suatu pencapaian yang amat memberangsangkan," katanya.

Beliau berkata Maybank, CIMB dan Public Bank juga menjalin kerjasama kerjasama dengan beberapa syarikat telekomunikasi bagi menyediakan perkhidmatan MyMobile yang baharu diperkenalkan pada awal tahun ini bagi pengguna telefon bimbit.

"Sejak diperkenalkan, seramai 103,000 pengguna menggunakan kemudahan MyMobile ini dengan nilai transaksi sebanyak RM4.2 juta.

"Mereka boleh melakukan transaksi perbankan seperti pertanyaan baki, pemindahan dana, pembayaran bil dan menambah nilai prabayar telefon menerusi khidmat pesanan ringkas," katanya.

Sementara itu, Azaddin berkata BSN kini mempunyai 4,055 ejen bank berdaftar (EBB) di seluruh negara yang telah mencatat bilangan transaksi melebihi 6.5 juta dengan nilai mencecah lebih RM580 juta.

"Perkhidmatan EBB di Kelantan mencatat jumlah transaksi melebihi 400,000 dengan nilai urusan berjumlah lebih RM39 juta. Pada masa ini sejumlah 41 daripada keseluruhan 42 mukim berdaftar di Kelantan mempunyai 311 ejen BSN dan angka ini dijangka meningkat kepada 326 ejen pada penghujung tahun ini," katanya.

Azaddin berkata perkhidmatan EBB itu merupakan idea dan usaha inovatif BSN dalam menawarkan kemudahan perbankan kepada pelanggan, terutama di kawasan pedalaman yang tidak mempunyai perkhidmatan bank.

"Melalui perkhidmatan ini rakyat Malaysia dapat menjimatkan masa untuk menjalankan urusan perbankan memandangkan ejen EBB BSN beroperasi di kedai-kedai berdekatan kawasan tempat tinggal seperti kedai runcit, kedai ejen telekomunikasi dan lain-lain.

"Di samping itu juga waktu operasi BSN lebih fleksibel dan lebih panjang iaitu dari pukul 8 pagi hingga 10 malam, dengan setiap transaksi yang dilakukan adalah secara atas talian dan dalam masa nyata," katanya.

-- BERNAMA

Pasan wang: Kadar jangka pendek ditutup kukuh

KUALA LUMPUR 14 Jun - Kadar jangka pendek ditutup kukuh hari ini dengan Bank Negara Malaysia (BNM) terus campur tangan dalam pasaran wang untuk menyerap lebihan mudah tunai daripada sistem kewangan.

Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/Ekonomi/20130614/ek_05/Pasan-wang-Kadar-jangka-pendek-ditutup-kukuh
Published: Jun 16, 2013

Kadar semalaman kekal tidak berubah pada 2.92 peratus sementara kadar satu, dua dan tiga minggu, masing-masing pada 2.97 peratus, 3.01 peratus dan 3.04 peratus.

Lebihan mudah tunai dalam operasi konvensional telah dikurangkan kepada RM15.529 bilion daripada RM22.039 bilion yang dianggarkan pada awalnya sementara dalam sistem perbankan Islam ia berkurangan kepada RM4.480 bilion daripada RM7.273 bilion sebelumnya.

Terdahulu, BNM telah mengemukakan empat tender konvensional semalaman dan empat tender Al-Wadiah.

Bank pusat turut menerbitkan tender lewat konvensional untuk sejumlah RM15.6 bilion dan RM4.5 bilion tender Al-Wadiah, kedua-duanya untuk wang tiga hari. - BERNAMA

Malaysia can cope well with market volatility, says Zeti

KUALA LUMPUR, June 14 — Malaysia’s central bank is committed to maintaining orderly market conditions and believes the economy is in a strong position to weather volatility in currency and stock markets, Governor Tan Sri Zeti Akhtar Aziz said today.

Source from (The Malaysian Insider): http://www.themalaysianinsider.com/business/article/zeti-sees-market-volatility-easing/
Published: Jun 14, 2013


“We have strengthened financial intermediaries, developed financial markets to absorb these volatile inflows and outflows without being destabilised,” Zeti told a news conference in Kuala Lumpur.

“Malaysia can better manage and absorb this volatility,” she said.

Malaysia’s ringgit currency slid to 3.1570 against the dollar earlier this week, its weakest since July 2012, tracking falls in other regional currencies and stock markets and sparking speculation of possible central bank intervention.

This morning, the ringgit was firmer, at around 3.12 to the dollar.

Malaysia’s central bank, Bank Negara, has held its key interest rate steady at 3 per cent since May 2011 to spur growth in the trade-reliant economy at a time of weak overseas demand.

Zeti declined to say whether the ringgit’s recent fall made an interest rate hike more likely, saying only that any central bank move would be “orderly”.

Zeti said she saw current market volatility as temporary and that the central bank was committed to maintain calm conditions.

“Our mandate is maintaining orderly foreign exchange market conditions. We do not look to support any specific level of exchange rate,” she said.

Zeti said that a recent decline in Malaysia’s trade surplus had not weakened its ability to cope with fund outflows, pointing to the country’s high level of foreign reserves.

“We have managed to build up reserves of US$140 billion (RM437 billion). This supports our external position,” she said.

Malaysia’s exports unexpectedly fell in April from a year ago, the third straight month of declines, pushing the country’s trade surplus to a 16 year-low. — Reuters

BIMB receives BNM nod to commence negotiations with LTH

KUALA LUMPUR, June 11 — BIMB Holdings Bhd (BHB) has received approval from Bank Negara Malaysia (BNM) to commence negotiations with Lembaga Tabung Haji (LTH) to acquire LTH’s stake in Bank Islam Malaysia Bhd (BIBM).

Source from (The Malaysian Insider): http://www.themalaysianinsider.com/business/article/bimb-receives-bnm-nod-to-commence-negotiations-with-lth/
Published: Jun 12, 2013


In a filing to Bursa Malaysia, BHB said the negotiations would be completed on or before Dec 31, 2013.

It said consent from BNM should not be construed as an approval for the proposed acquisition.

BIMB said all parties would be required to obtain prior approval from the Minister of Finance before entering into any agreement to effect the proposed acquisition. — Bernama

BIMB Terima Kelulusan BNM Untuk Mulakan Perundingan Dengan LTH

KUALA LUMPUR, 11 Jun (Bernama) -- BIMB Holdings Bhd (BHB) telah mendapat kelulusan daripada Bank Negara Malaysia (BNM) untuk memulakan perundingan dengan Lembaga Tabung Haji (LTH) bagi menguasai kepentingan LTH dalam Bank Islam Malaysia Bhd (BIBM).

Source from (Bernama): http://www.bernama.com/bernama/v7/bm/bu/newsbusiness.php?id=955457
Published: Jun 12, 2013

Dalam kenyataan kepada Bursa Malaysia, BHB berkata perundingan itu akan siap pada atau sebelum 31 Dis, 2013.

Ia berkata persetujuan daripada BNM tidak hendaklah diertikan sebagai kelulusan untuk cadangan pengambilalihan itu.

BIMB berkata semua pihak diperlukan untuk mendapatkan kelulusan daripada Menteri Kewangan sebelum memasuki mana-mana perjanjian untuk melaksanakan cadangan pengambilalihan.

-- BERNAMA

BIMB set to fully own Bank Islam

PETALING JAYA: With BIMB Holdings Bhd's acquisition of Dubai Financial Group's (DFG) 30.5% stake in Bank Islam Malaysia Bhd said to be close to completion, BIMB is now looking to gain full ownership of its unlisted banking subsidiary.

Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2013/6/12/business/13228637&sec=business
Published: Jun 12, 2013

Its acquisition of Dubai Financial Group’s 30.5% stake is close to completion



Yesterday, BIMB said in a filing with the stock exchange it had received Bank Negara's consent to commence negotiations with Lembaga Tabung Haji (LTH) on the latter's stake in Bank Islam. BIMB is proposing to buy LTH's 18.5% interest in Bank Islam.

LTH is the ultimate holding company of both BIMB and Bank Islam. Apart from its direct interest in Bank Islam, the pilgrim fund also owns a 51.5% stake in BIMB. BIMB, meanwhile, has a 51% interest in Bank Islam.

Together with the DFG portion, BIMB's stake in Bank Islam would increase to 81.5%. It would gain full control of Bank Islam if the proposed move to buy LTH's stake goes through.

BIMB said negotiations are to be completed on or before Dec 31, adding that the consent from Bank Negara should not be construed as an approval for the proposed acquisition.

An analyst said the proposed move was a positive one, as it would plug “minority leakage”.

Bank Islam is profitable and contributes to slightly over 80% of BIMB's bottomline, with the balance derived from Syarikat Takaful Malaysia Bhd, in which BIMB has a 65.2% stake.

For the first quarter ended March 31 Bank Islam achieved a profit before zakat and tax of RM150.3mil as compared to RM130.6mil in the previous corresponding period on higher fund-based income.

StarBiz had earlier reported that BIMB was on the verge of completing its purchase of DFG's stake, with valuation and pricing parameters having been somewhat determined.

BIMB group managing director and chief executive officer Johan Abdullah was quoted as saying that discussions between both parties had resulted in DFG offering a price for the stake, which was counter-offered by BIMB.

According to sources, BIMB is believed to be currently working on the funding mechanism, weighing various options that may include a rights issue.

Bank Negara has given the parties until June 30 to conclude negotiations, which is an extension from the initial March 31 deadline. Talks had earlier stalled due to pricing issues.

It is not known how much the 30.5% stake was valued at but banking sources reckon that it could be between 1.6 times and 1.8 times price-to-book value.

To recap, DFG had first acquired an interest in Bank Islam in October 2006 to facilitate the latter's recapitalisation. However, it has since been looking to hive off its interest to pare down debts.

BIMB's plans to transfer its listing status to Bank Islam in still in the pipeline, a proposition analysts say is attractive considering the direct exposure investors could gain to a standalone Islamic bank, as opposed to a holding company with a couple of businesses.

It would also give the bank an avenue to raise capital for expansion and strengthen its Tier-1 capital to cater to the new Basel III framework.

Bank Islam managing director Datuk Seri Zukri Samat, in an interview with StarBizWeek in mid-March, was quoted as saying the bank's listing was on the cards and that it was a medium-term agenda which could be implemented until next year.

Malaysia’s BIMB starts talks with Tabung Haji for Bank Islam stake

KUALA LUMPUR, June 11 — Malaysia’s BIMB Holdings Bhd has received approval from the country’s central bank to begin talks with Lembaga Tabung Haji for the latter’s 18.5 per cent stake in Bank Islam, the country’s oldest Islamic bank.

Source from (The Malaysian Insider): http://www.themalaysianinsider.com/business/article/malaysias-bimb-starts-talks-with-tabung-haji-for-bank-islam-stake/
Published: Jun 12, 2013

Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/20130612002442/Article/index_html
Published: Jun 12, 2013


BIMB, which presently owns 51 per cent of Bank Islam, is also in the process of acquiring the 30.5 per cent stake held by Dubai Financial Group. If it acquires both stakes, BIMB will control 100 per cent of Bank Islam.

Islamic finance in Malaysia, which has seen regulatory reforms boost its share of the country’s total banking assets to more than 20 per cent, has seen major consolidations as banks seek to manage operational costs and win bigger deals.

Negotiations between BIMB and Lembaga Tabung Haji, which manages funds for Muslim Malaysians to perform their pilgrimages to Mecca, will be completed by the end of the year, BIMB said in a stock exchange filing today.

BIMB’s chief executive officer Johan Abdullah told reporters in May that the valuation of the Dubai stake was already determined, although a complete proposal had not been filed and the amount has not been disclosed. — Reuters

Short-term rates to remain stable

KUALA LUMPUR, June 10 — Short-term interbank rates are expected to remain stable today as Bank Negara Malaysia (BNM) intervenes to absorb excess liquidity from the financial system.

Source from (The Malaysian Insider): http://www.themalaysianinsider.com/business/article/short-term-rates-to-remain-stable7/
Published: Jun 11, 2013

The central bank estimated today’s liquidity at RM28.84 billion in the conventional system and RM6.3 billion in Islamic funds.

Bank Negara will call for four conventional tenders—RM1 billion each for 14 days and 21 days, respectively, and RM2 billion each for seven days and 28 days.
 

The central bank will also conduct four Al-Wadiah tenders, comprising RM400 million for 21 days, RM700 million for 14 days and RM600 million for seven days and 28 days.

It will also call for a repo tender comprising RM600 million for 154 days.

At 4pm, Bank Negara will conduct up to RM22.3 billion in conventional overnight tenders and a RM4.1 billion Al-Wadiah overnight tender. – Bernama

Pasaran wang: Kadar jangka pendek stabil

KUALA LUMPUR 10 Jun - Kadar jangka pendek ditutup stabil hari ini dengan Bank Negara Malaysia (BNM) terus campur tangan dalam pasaran wang untuk menyerap lebihan mudah tunai daripada sistem kewangan.

Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/Ekonomi/20130610/ek_17/Pasaran-wang-Kadar-jangka-pendek-stabil
Published: Jun 11, 2013

Lebihan mudah tunai dalam operasi konvensional telah dikurangkan kepada RM19.95 bilion daripada RM28.84 bilion yang dianggarkan pada awalnya sementara dalam sistem perbankan Islam, ia turun kepada RM3.29 bilion daripada RM6.30 bilion sebelumnya.

Terdahulu, BNM telah mengemukakan empat tender konvensional, satu repo dan empat tender Al-Wadiah.

Bank pusat turut mengeluarkan tender lewat konvensional untuk sejumlah RM19.9 bilion dan RM3.2 bilion tender Al-Wadiah, kedua-duanya untuk wang satu hari.

Kadar semalaman kekal pada 2.92 peratus sementara kadar satu, dua dan tiga minggu, masing-masing pada 2.98 peratus, 3.01 peratus dan 3.04 peratus. - BERNAMA

Zurich in talks to sell MCIS stake to Samlan

PETALING JAYA (June 10, 2013): Zurich Insurance Co Ltd is negotiating with South African financial services group Sanlam to sell its 40% stake in MCIS Zurich Insurance Bhd, people close to the matter said.

Source from (The Sun Daily): http://www.thesundaily.my/news/737448
Published: Jun 11, 2013

It is understood that Samlan is seriously considering Zurich's stake in MCIS Zurich to help expand its footprint in Malaysia.

According to sources, Zurich is desperate to strike a deal quickly as Bank Negara Malaysia (BNM) has given the Swiss financial group till the end of this month to separate itself from its troubled partnership with Koperasi MCIS Sdn Bhd.

"BNM has given Zurich till end of June to quit its joint venture with Koperasi MCIS," a source told SunBiz.

Zurich has to relinquish its 40% stake in MCIS Zurich Insurance Bhd after acquiring composite insurer, MAA Assurance Bhd for RM344 million on Sept 30 last year, as the regulator prohibits foreign companies from owning substantial stake in more than one insurance company in the country. MAA Assurance has since been renamed Zurich Insurance Malaysia Bhd.

"BNM has given Zurich an ultimatum to finalise the deal. Otherwise BNM will come down on Zurich over its dual holding in local insurance companies. It has been more than a year-and-a-half since Zurich bought MAA Assurance. BNM wants this issue of dual holding resolved soon," the source said.

Last September, Zurich Financial Services Group CEO Martin Senn had said the group was still in talks with various stakeholders for the proposed disposal of the MCIS Zurich stake within a grace period granted by BNM.

He had declined to elaborate on the duration of the grace period, only indicating that it was a private agreement between the central bank and Zurich.

Zurich has several options to consider. It may merge Zurich Insurance Malaysia with MCIS Zurich and retain management control of the enlarged entity, or sell MCIS Zurich and transfer its business and expertise to Zurich Insurance Malaysia.

Last month, the Sanlam Emerging Markets (SEM), a unit of the Sanlam Group which is tasked with expanding internationally, bought a 49% stake in Malaysian general insurer Pacific & Orient Insurance for RM270 million.

In a recent report, Robert Roux, chief of mergers and acquisitions at Sanlam, said the acquisition of Pacific & Orient Insurance was not the end game for the company in Malaysia.

"Obviously, we have done something in Malaysia. We don't think that's the end game in Malaysia," Roux was reported as saying.

Apparently, the plan is for Sanlam to expand into life and asset management in Malaysia.
Sanlam, the second-largest life insurer in South Africa, operates personal finance and insurance businesses across Africa, Europe, India, Australia and the US.

It has operations in eight African countries with majority stakes in countries such as Ghana, Kenya, Botswana and Namibia.

Rizab Antarabangsa BNM Berjumlah RM436.8 Bilion Sehingga 31 Mei 2013

KUALA LUMPUR, 7 Jun (Bernama) -- Rizab antarabangsa Bank Negara Malaysia berjumlah RM436.8 bilion atau bersamaan dengan US$141.4 bilion pada 31 Mei, 2013.

Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/Ekonomi/20130607/ek_13/Rizab-antarabangsa-BNM-RM4368-bilion
Published: Jun 06, 2013

Source from (Bernama): http://www.bernama.com/bernama/v7/bm/bu/newsbusiness.php?id=954664
Published: Jun 06, 2013

Dalam satu kenyataan Jumaat, bank pusat itu berkata paras rizab berkenaan memadai untuk membiayai 9.5 bulan import tertangguh dan 4.3 kali hutang luar negeri jangka pendek.

-- BERNAMA

Kadar jangka pendek pasaran wang ditutup kukuh

KUALA LUMPUR 6 Jun - Kadar jangka pendek ditutup kukuh hari ini dengan campur tangan berterusan Bank Negara Malaysia (BNM) untuk menyerap lebihan kecairan dalam sistem kewangan.

Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/Ekonomi/20130606/ek_19/Kadar-jangka-pendek-pasaran-wang-ditutup-kukuh
Published: Jun 06, 2013

Lebihan kecairan dalam operasi konvensional menyusut kepada RM19.61 bilion daripada anggaran awal RM31.448 bilion, sementara dalam sistem Islam, ia merosot kepada RM3.313 bilion daripada RM8.126 bilion.

Sebelum itu, BNM memanggil satu lelongan tender pasaran wang pelbagai kematangan, dua tender repo dan tiga tender Al-Wadiah.

Bank pusat juga menerbitkan tender konvensional RM18.7 bilion dan satu tender Al-Wadiah RM3.3 bilion, kedua-duanya untuk wang satu hari.

Kadar semalaman tidak berubah pada 2.92 peratus sementara kadar satu, dua dan tiga minggu dicatatkan pada 2.98 peratus, 3.01 peratus dan 3.04 peratus, setiap satu. - BERNAMA

After money laundering, Malaysia now linked to steroids trafficking

KUALA LUMPUR, June 3 — US President Barack Obama has designated a worldwide steroids trafficking operation that is partly managed in Malaysia under Washington DC’s Kingpin Statute, which targets large-scale drug traffickers including the notorious Tijuana cartel in Mexico, the Wall Street Journal (WSJ) has reported.

Source from (The Malaysian Insider): http://www.themalaysianinsider.com/malaysia/article/after-money-laundering-malaysia-now-linked-to-steroids-trafficking/
Published: Jun 03, 2013


File photo of anabolic steroids seized by the US Drug Enforcement 
Administration during a raid in September 2007. — Picture courtesy 
of wikipedia.org

The move comes in the wake of Liberty Reserve, a global currency exchanger registered in Costa Rica that was indicted last week for running a US$6 billion (RM18.6 billion) money-laundering operation said to be the world’s largest, and which also involved unlicensed money exchangers based in Malaysia as Bukit Aman has acknowledged.

The WSJ reported Obama had imposed sanctions against six individuals and groups, including an alleged anabolic steroid dealer, Mihael Karner of Slovenia, who reputedly runs a an umbrella company advertising sales of steroids in Malaysia called Asia Pharma — raising concerns about whether Malaysian regulations are so lax that they are being exploited by international criminal organisations.

Also in the same list were Afghan Haji Kotwal Noorzai, the head of a drug trafficking network and the owner of a heroin processing lab, now living in Pakistan who has worked with the Taliban; and Mexican kingpin Luis Fernando Sanchez Arrelano, who has been the reputed operational leader of the Tijuana Cartel tied to a number of kidnappings and murders in the Tijuana area, the WSJ reported.

According to the international business news and current affairs daily, Karner heads an international organisation that sells anabolic steroids on the Internet and has created shell companies to hide the origin of the profits.

An anabolic steroid is known as a performance-booster and consumed for cosmetic purposes but which can severely damage a person’s health in the long run.

Citing a US Treasury official, the WSJ reported Karner to be managing an umbrella company advertising sales of steroids in Malaysia called Asia Pharma.

A check on Google showed Asia Pharma to be a limited liability pharmaceuticals company in Kuala Lumpur with a local phone and fax number but providing no mailing address.

On its home page, the company said its main goal was the manufacture and sale of affordable yet high quality generic pharmaceutical products to developing countries that cannot afford the expensive proprietary drugs. Most of its 56-listed products dealt with male and female hormone treatment.

It claimed the mission of “Asia Pharma Ltd is to improve the efficiency of healthcare systems worldwide by providing them more drugs of the same quality for the same money.”

The WSJ reported Karner, his wife and brother were charged in a Massachusetts federal court in 2010 on three counts of money-laundering conspiracy, and importing and distributing steroids.

Karner was reported to have since fled back to his native Slovenia from where he is continuing his operations despite the US authorities’ actions, the daily cited an unnamed US Treasury official saying.

In calling for sanctions, Obama was reported to have invoked the Kingpin Statute, properly called the Continuing Criminal Enterprise (CCE) Statute, a US federal law aimed to dismantle criminal narcotics enterprises that function like legitimate businesses.