Thursday, May 16, 2013

Malaysia's Q1 Balance Of Payments Records Lower Surplus Of RM8.7 Billion

KUALA LUMPUR, May 15 (Bernama) -- Malaysia's current account balance posted a lower surplus of RM8.7 billion for the first quarter (Q1) of 2013 compared with RM22.9 billion in the preceding quarter, the Statistics Department said.

Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=949970
Published: May 16, 2013

In a statement, the department said this was mainly attributed to a lower surplus of RM24.7 billion in goods account and a higher net outflow of RM8.8 billion in primary income account.

Year-on-year (YoY), the surplus on the current account reduced to RM8.7 billion from RM16.9 billion in the same period last year due to lower surplus on goods account by RM11.3 billion from RM36 billion last year.

Under the goods account for Q1 2013, goods posted lower surplus of RM24.7 billion from RM34.3 billion last year due to lower value in exports free on board (f.o.b) and higher value in imports of f.o.b.

As for the service account, export of services registered RM29.8 billion from the RM31.6 billion in the preceding quarter, the department said.

In the current quarter, the primary income receipts (credit) recorded RM9.9 billion from RM12.2 billion in the fourth quarter (Q4) 2012, while income payments (debit) recorded RM18.7 billion from RM17.8 billion previously.

At the same time, receipts on secondary income saw a decrease amounting to RM1.5 billion from RM1.7 billion in Q4 2012.

The department said capital account reverted to net outflow of RM6 million from net inflow of RM372 million in Q4 2012 due to higher net payments on capital transfers by RM6 million.

In the quarter under review, the financial account recorded a turnaround to net inflow of RM1.0 billion from net outflow of RM10.3 billion posted in the previous quarter.

Meanwhile, direct investment posted a net outflow of RM2.2 billion from RM18.4 billion during the previous quarter, while YoY portfolio investment posted lower net inflow from RM25.1 billion to RM3.9 billion.

The international reserves of Bank Negara Malaysia as at end-March 2013 was RM431.2 billion, an increase of RM4.0 billion as compared to a quarter ago.

-- BERNAMA 

Malaysia's GDP Expands 4.1 Per Cent In Q1 Of 2013

KUALA LUMPUR, May 15 (Bernama) -- Malaysia's gross domestic product (GDP) expanded by 4.1 per cent in the first quarter 2013, amid the weaker external environment.

Source from (The Malaysian Insider): http://www.themalaysianinsider.com/business/article/malaysian-economy-slows-in-q1-on-weak-exports/
Published: May 16, 2013

Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=949905
Published: May 16, 2013

Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/20130516001619/Article/index_html
Published: May 16, 2013


A Reuters poll had forecast Malaysia’s economic growth to have eased to 5.2 per cent in the first quarter from a year ago, the slowest pace of expansion in a year, as exports sagged in the face of weaker demand for electronics and palm oil.

This is in contrast to the 5.1 per cent in the same quarter 2012 and 6.5 per cent in the fourth quarter.

Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz said the GDP was supported by stronger domestic demand that expanded by 8.2 per cent during the quarter.

"Domestic demand remains robust, increasing by 8.2 per cent during the quarter compared with the 7.8 per cent recorded in the fourth quarter of last year," she told a press conference on Malaysia's economic performance here today.

Zeti said based on current assumptions, the country would achieve a 5.0-6.0 per cent growth this year.

"Growth for the year as a whole, remains within the earlier projection of five to six per cent," she added.

She said domestic demand is expected to remain the key driver of growth, bolstered by sustained private sector expansion and supported by the public sector.

"We see the strong domestic demand continuing. It remains very much intact, and consumption demand is holding steady in the range of 7.5 per cent,with stronger job security, and rising incomes, while investment activities are also strong," Zeti added.

She said global developments will continue to present downside risks, while intra-regional trade is expected to reinforce the growth performance.

Elaborating on the first quarter, Zeti said private consumption recorded a strong growth of 7.5 per cent (4Q 2012: 6.2 per cent) driven by sustained income growth and favourable labour market conditions.

"This was further supported by the government cash transfers to low and middle-income households, and implementation of the minimum wage policy," she added.

Zeti said the growth in public consumption, however, moderated to 0.1 per cent (4Q 2012: 1.2 per cent) amid lower spending on supplies and services.

On the supply side, growth in the manufacturing sector slowed, weighed down by the weak external conditions, she said.

Despite the weakness in trade-related activities, Zeti said the services sector continued to expand, driven largely by sub-sectors catering to the domestic market.

She said growth in the agriculture sector was sustained on account of higher production of palm oil while the mining sector declined due to lower production of crude oil.

In the construction sector, she said, the growth remained firm, led mainly by progress in the civil engineering sub-sector.

In the external sector, Zeti said current account surplus narrowed in the first quarter to RM8.7 billion, equivalent to 3.9 per cent of GNI, due to a lower goods surplus, as well as a larger services deficit and income outflows.

"The financial account turned around to record a net inflow of RM1 billion (4Q 2012: -RM10.3 billion) as inflows arising from direct and portfolio investment from non-residents outweighed outflows arising from direct and portfolio investment undertaken by residents," she said.

She said the balance of payments recorded a surplus of RM4 billion (4Q 2012: +RM5.9 billion).

On inflation, Zeti said the central bank was monitoring both growth and inflation risks at this point in time and believed that current interest rates were supporting growth.

"We are monitoring these very closely because the external risk will most likely affect growth on the downside. We have not seen sustainable recovery emerging from major economies," she said.

The headline inflation rate, as measured by the annual change in Consumer Price Index (CPI), was slightly higher at 1.5 per cent in the first quarter (4Q 2012: 1.3 per cent).

Asked on the strengthening of the ringgit, Zeti said that was driven by capital flows because at one time there was no significant inflow as portfolio managers stayed on the sidelines and other regional currencies seemed to be moving faster than the ringgit.

"But more recently, we have seen these potential investors who have been on the sidelines coming in a significant way and our currencies have appreciated to about the extent of other regional currencies," she said.

Despite the continued volatility in the global financial markets, Zeti said financial stability remained intact throughout the quarter.

She said the effective financial intermediation was supported by sound financial institutions, orderly financial market conditions and sustained confidence in the financial system.

"Going forward, the global economy is expected to continue to expand, but downside risks to growth will remain.

"In advanced economies, economic recovery continues to be vulnerable to policy uncertainties and the risk of contagion," she said.

Zeti said the divergent policies across regions were also resulting in spillover effects on global financial conditions.

For Asia, growth would continue to be sustained by domestic demand, underpinned by income growth and healthy labour market conditions and supported by continued policy flexibility, she added.

-- BERNAMA

KDNK Malaysia Berkembang 4.1 Peratus Dalam Suku Pertama 2013

KUALA LUMPUR, 15 Mei (Bernama) -- Keluaran dalam negara kasar (KDNK) Malaysia berkembang sebanyak 4.1 peratus dalam suku pertama 2013, dalam persekitaran luar negara yang lemah.

Source from (Berita Harian): http://www.bharian.com.my/bharian/articles/EkonomiMalaysiaberkembang4_1peratus/Article
Published: May 16, 2013

Source from (Harian Metro): http://www.hmetro.com.my/myMetro/articles/Kembang4_1peratus/Article/index_html
Published: May 16, 2013

Source from (Utusan Malaysia): http://www.utusan.com.my/utusan/Ekonomi/20130516/ek_01/Ekonomi-tumbuh-41
Published: May 16, 2013

Source from (Bernama): http://www.bernama.com/bernama/v7/bm/bu/newsbusiness.php?id=949973
Published: May 16, 2013


FotoEkonomi Malaysia   berkembang   4.1 peratus
                                             Tan Sri Dr Zeti Akhtar Aziz

Ini berbeza dengan 5.1 peratus yang dicapai dalam suku yang sama pada 2012 dan 6.5 peratus dalam suku keempat tahun lepas.

Gabenor Bank Negara Malaysia (BNM), Tan Sri Dr Zeti Akhtar Aziz, berkata KDNK ini disokong oleh permintaan domestik yang meningkat 8.2 peratus dalam suku berkenaan.

"Permintaan domestik terus kukuh dan meningkat sebanyak 8.2 peratus dalam suku itu berbanding 7.8 peratus yang dicatatkan dalam suku keempat tahun lepas," katanya pada satu sidang akhbar mengenai prestasi ekonomi Malaysia di sini, Rabu.

Zeti berkata berdasarkan andaian semasa, negara akan mencapai pertumbuhan 5.0 hingga 6.0 peratus tahun ini,

"Pertumbuhan bagi tahun ini pada keseluruhannya, masih dalam lingkungan unjuran terdahulu, iaitu lima hingga enam peratus, katanya.

Beliau berkata permintaan domestik dijangka terus menjadi pemacu utama pertumbuhan, dengan sokongan peluasan sektor swasta dan sektor awam yang kukuh.

"Kita nampak permintaan domestik yang tinggi berterusan. Ia terus utuh, dan permintaan penggunaan berada pada kedudukan mantap pada sekitar 7.5 peratus, dengan jaminan kerja yang lebih teguh, pendapatan yang semakin meningkat, manakala kegiatan pelaburan juga terus memberangsangkan," tegas Zeti.

Beliau berkata perkembangan global akan terus mencetuskan risiko menurun, manakala perdagangan sesama serantau dijangka memperkukuh prestasi pertumbuhan.

Menyentuh lebih lanjut tentang suku pertama, Zeti berkata penggunaan swasta mencatatkan pertumbuhan mantap sebanyak 7.5 peratus (suku keempat 2012: 6.2 peratus) didorong oleh pertumbuhan pendapatan dan keadaan pasaran buruh yang baik.

"Ini disokong selanjutnya oleh pemindahan wang kerajaan kepada isi rumah berpendapatan rendah dan sederhana, dan pelaksanaan dasar gaji minimum," kata beliau.

Menurut Zeti, penggunaan awam, bagaimanapun, menyederhana kepada 0.1 peratus (suku keempat 2012: 1.2 peratus) berikutan berkurangnya perbelanjaan bagi bekalan dan perkhidmatan.

Bagi bekalan, pertumbuhan dalam sektor pembuatan menjadi lembap, ekoran tekanan daripada keadaan-keadaan luar negara yang lemah, tegas beliau.

Meskipun kegiatan berkaitan perdagangan berkurangan, kata Zeti, sektor perkhidmatan terus berkembang, sebahagian besarnya didorong oleh subsektor yang menampung permintaan pasaran domestik.

Kata beliau, pertumbuhan dalam sektor pertanian terus kukuh disebabkan oleh pengeluaran minyak sawit yang lebih tinggi manakala sektor perlombongan merosot ekoran penyusutan pengeluaran minyak mentah.

Dalam sektor pembinaan, kata beliau, pertumbuhan terus teguh, sebahagian besarnya disebabkan oleh kemajuan dalam subsektor kejuruteraan awam.

Dalam sektor luaran, Zeti berkata lebihan akaun semasa mengecil dalam suku pertama kepada RM8.7 bilion, bersamaan dengan 3.9 peratus pendapatan negara kasar (PNK) disebabkan oleh lebihan barangan yang lebih rendah, serta defisit perkhidmatan yang lebih besar dan pengaliran keluar pendapatan.

"Akaun kewangan bertukar arah dan mencatatkan pengaliran masuk bersih berjumlah RM1 bilion (suku keempat 2012: -RM10.3 bilion) apabila pengaliran masuk daripada pelaburan langsung dan portfolio daripada bukan pemastautin mengatasi pengaliran keluar yang timbul daripada pelaburan langsung dan portfolio yang dilaksanakan oleh pemastautin," jelas beliau.

Beliau berkata imbangan pembayaran mencatatkan lebihan sebanyak RM4 bilion (suku keempat 2012: +RM5.9 bilion).

Mengenai inflasi, Zeti berkata BNM memantau pertumbuhan dan juga risiko inflasi pada masa ini dan percaya kadar faedah semasa menyokong pertumbuhan.

"Kita memantau ini dengan teliti kerana risiko luaran berkemungkinan besar menjejaskan pertumbuhan. Kita belum nampak pemulihan mampan yang muncul dari ekonomi-ekonomi besar," katanya.

Kadar inflasi, seperti yang diukur melalui perubahan tahunan Indeks Harga Pengguna (IHP) meningkat sedikit kepada 1.5 peratus dalam suku pertama (suku keempat 2012: 1.3 peratus).

Ditanya tentang pengukuhan ringgit, Zeti berkata ia didorong oleh aliran modal kerana pada satu ketika, langsung tiada pengaliran masuk yang besar kerana pengurus portfolio enggan memasuki pasaran manakala mata wang serantau yang lain seolah-olah bergerak lebih pantas daripada ringgit.

"Tetapi baru-baru ini, kita nampak pelabur-pelabur berpotensi yang menunggu di luar pasaran mengambil bahagian dengan cara yang ketara dan mata wang kita telah meningkat kira-kira sama banyaknya dengan mata wang tempatan yang lain," katanya.

Meskipun pasaran kewangan global terus turun naik, kata Zeti kestabilan kewangan terus utuh sepanjang suku ini.

Beliau berkata pengantaraan kewangan yang berkesan telah disokong oleh institusi kewangan yang kukuh, keadaan pasaran kewangan yang teratur dan keyakinan yang berterusan terhadap sistem kewangan.

"Melangkah ke hadapan, ekonomi global dijangka terus berkembang, namun masih wujud risiko pertumbuhan akan menjadi lebih perlahan.

"Dalam ekonomi-ekonomi maju, pemulihan ekonomi terus mudah terjejas oleh ketidaktentuan dasar dan risiko penularan," katanya.

Zeti berkata pelaksanaan dasar yang berbeza-beza merentas rantau juga telah mengakibatkan kesan limpahan terhadap keadaan kewangan global.

Bagi Asia, pertumbuhan akan terus didorong oleh permintaan dalam negeri, disokong oleh pertumbuhan pendapatan dan keadaan pasaran pekerja yang menggalakkan, serta dasar yang terus fleksibel, tegas Zeti.

-- BERNAMA

Short-term rates close stable on Bank Negara’s intervention

KUALA LUMPUR, May 15 — Short-term rates closed stable today as Bank Negara Malaysia intervened in the money market to absorb excess liquidity from the financial system.

Source from (The Malaysian Insider): http://www.themalaysianinsider.com/business/article/short-term-rates-close-stable-on-bank-negaras-intervention3/
Published: May 16, 2013

The liquidity surplus in the conventional operations fell to RM14.561 billion from RM23.72 billion estimated earlier while the excess in the Islamic system declined to RM3.36 billion from RM4.65 billion.

In the morning, the central bank called for five tenders — one range maturity auction, two Al-Wadiah and two repo.

Bank Negara also issued a late conventional tender for RM14.8 billion and a RM2.8 billion Al-Wadiah tender, both for one-day money.

The overnight rate stood at 2.93 per cent while the one-, two- and three-week rates stood at 2.98 per cent, 3.01 per cent and 3.04 per cent, respectively. — Bernama