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Economic News
- Thread starter FHBH12
- Start date
Asia will be the growth region, so more US and EU countries will open up offices and plants in this region to provide employment. MY is benefiting from the better exports to US while SG's growth is muted due to restriction in foreign workers. I don't think JB will landed properties prices will correct while condos prices might stay stagnant for a long while. SG CCR high end condos and large landed properties are still correcting, while OCR and RCR prices are stabilising or might even go up by mid of next year.
Oil rebounds from dive after upbeat economic data
POSTED: 15 Nov 2014 06:05
Oil prices bounced back somewhat on Friday (Nov 14) from Thursday's steep fall after upbeat US and Eurozone economic data, but prospects remained remote of an OPEC output cut to counter ample supplies.
NEW YORK: Oil prices bounced back somewhat on Friday (Nov 14) from Thursday's steep fall after upbeat US and Eurozone economic data, but prospects remained remote of an OPEC output cut to counter ample supplies.
US benchmark West Texas Intermediate for December delivery rose $1.61 to settle at $75.82 a barrel. Brent North Sea crude for delivery in January advanced $1.92 in the contract's first day of trade to $79.41 in London.
After a particularly rough week for oil prices, with futures contracts sinking to four-year lows in New York and London, investors saw a chance to buy the dip, said John Kilduff of Again Capital.
Several encouraging economic indicators on both sides of the Atlantic, suggesting potential for more oil demand, lent support to the buying.
In the United States, the world's largest consumer of crude oil, retail sales rose 0.3 per cent in October, recovering from a downturn the previous month.
The new retail numbers provide "added reassurance that the economy is in better shape than many had hoped a month ago," said Chris Williamson, chief economist at Markit.
The struggling 18-nation Eurozone economy grew 0.2 per cent in the third quarter, better than the 0.1 per cent consensus estimate, and stronger than the second quarter's 0.1 per cent rise. But with oil prices down by as much as a third since June, the market was focused on the upcoming meeting of the 12-nation OPEC cartel, which produces about a third of global oil supplies.
"OPEC is getting into panic mode," Kilduff said. Members of the 12-nation cartel "are trying to cobble together a deal and they are certainly more incentivized to do so today than a week ago given the lower prices."
Even so, dealers are largely expecting the Organization of Petroleum Exporting Countries to decide against reducing output when it meets on November 27 in Vienna.
OPEC kingpin Saudi Arabia recently has cut prices on crude exports to the US market, a move seen by some observers as an effort to maintain market share as it faces competition from rising US shale oil production.
OPEC members Venezuela and Ecuador have called publicly for a reduction in OPEC output quotas.
- AFP/fl
http://www.channelnewsasia.com/news/business/oil-rebounds-from-dive/1474048.html
POSTED: 15 Nov 2014 06:05
Oil prices bounced back somewhat on Friday (Nov 14) from Thursday's steep fall after upbeat US and Eurozone economic data, but prospects remained remote of an OPEC output cut to counter ample supplies.
NEW YORK: Oil prices bounced back somewhat on Friday (Nov 14) from Thursday's steep fall after upbeat US and Eurozone economic data, but prospects remained remote of an OPEC output cut to counter ample supplies.
US benchmark West Texas Intermediate for December delivery rose $1.61 to settle at $75.82 a barrel. Brent North Sea crude for delivery in January advanced $1.92 in the contract's first day of trade to $79.41 in London.
After a particularly rough week for oil prices, with futures contracts sinking to four-year lows in New York and London, investors saw a chance to buy the dip, said John Kilduff of Again Capital.
Several encouraging economic indicators on both sides of the Atlantic, suggesting potential for more oil demand, lent support to the buying.
In the United States, the world's largest consumer of crude oil, retail sales rose 0.3 per cent in October, recovering from a downturn the previous month.
The new retail numbers provide "added reassurance that the economy is in better shape than many had hoped a month ago," said Chris Williamson, chief economist at Markit.
The struggling 18-nation Eurozone economy grew 0.2 per cent in the third quarter, better than the 0.1 per cent consensus estimate, and stronger than the second quarter's 0.1 per cent rise. But with oil prices down by as much as a third since June, the market was focused on the upcoming meeting of the 12-nation OPEC cartel, which produces about a third of global oil supplies.
"OPEC is getting into panic mode," Kilduff said. Members of the 12-nation cartel "are trying to cobble together a deal and they are certainly more incentivized to do so today than a week ago given the lower prices."
Even so, dealers are largely expecting the Organization of Petroleum Exporting Countries to decide against reducing output when it meets on November 27 in Vienna.
OPEC kingpin Saudi Arabia recently has cut prices on crude exports to the US market, a move seen by some observers as an effort to maintain market share as it faces competition from rising US shale oil production.
OPEC members Venezuela and Ecuador have called publicly for a reduction in OPEC output quotas.
- AFP/fl
http://www.channelnewsasia.com/news/business/oil-rebounds-from-dive/1474048.html
Interest rate might be only rise slightly in 2015. Against the background of improving sentiment and economic growth, the interest rate impact will be marginal. The slight correction in Singapore is politically motivated. Now a big group of middle class who are genuine up-graders or invested in properties are stuck. As usual, some party is always behind the curve in recognising the issue, and might pay the price again in 2015/2016.
Malaysia's economy slowing
Published: Nov 14, 2014 12:15 a.m. ET
Malaysia's economy decelerated in the third quarter as sluggish global demand hurt its exports-oriented factories, though consumer spending remained resilient.
Gross domestic product grew 5.6% in the third quarter from a year earlier. A Wall Street Journal poll of 15 economists had predicted the third-largest Southeast Asian economy to expand at a median 5.6% year-on-year.
The trade-dependent economy expanded 0.9% from the second quarter on a seasonally adjusted basis, central bank data showed Friday. The data are provisional and may be revised.
The economy grew 6.4% on year between April-June quarter.
All main economic activities grew at a slower pace, with the important services and manufacturing sectors rising 6.1% and 6.2%, respectively, during the July-September period, compared with 6.2% and 7.3% three months earlier. Private-sector consumption grew at a slightly faster pace compared with the preceding period, while public consumption expanded 5.3% after contracting 0.5% in the second quarter.
Bank Negara Malaysia Governor Zeti Akhtar Aziz said the economy is likely to remain on a "steady growth path" at between 5.5% and 6.0% this year, driven by resilient domestic demand on the back of low unemployment. Next year, the economy is expected to grow 5.0% to 6.0%, she said.
"While private consumption may moderate, investment activity will be supported by continued flow of ongoing and new projects by the private and public sectors," Ms. Zeti told reporters.
Following are selected economic indicators released by the central bank:
3rd Qtr 2nd Qtr
Gross Domestic Product +5.6% +6.5%
Manufacturing +5.3% +7.3%
Services sector +6.1% +6.2%
Mining sector +1.4% +2.1%
Agriculture sector +4.0% +7.1%
Private Consumption +6.7% +6.5%
Public Consumption +5.3% -0.5%
Write to Jason Ng at [email protected]
http://www.marketwatch.com/story/malaysias-economy-slowing-2014-11-14
Published: Nov 14, 2014 12:15 a.m. ET
Malaysia's economy decelerated in the third quarter as sluggish global demand hurt its exports-oriented factories, though consumer spending remained resilient.
Gross domestic product grew 5.6% in the third quarter from a year earlier. A Wall Street Journal poll of 15 economists had predicted the third-largest Southeast Asian economy to expand at a median 5.6% year-on-year.
The trade-dependent economy expanded 0.9% from the second quarter on a seasonally adjusted basis, central bank data showed Friday. The data are provisional and may be revised.
The economy grew 6.4% on year between April-June quarter.
All main economic activities grew at a slower pace, with the important services and manufacturing sectors rising 6.1% and 6.2%, respectively, during the July-September period, compared with 6.2% and 7.3% three months earlier. Private-sector consumption grew at a slightly faster pace compared with the preceding period, while public consumption expanded 5.3% after contracting 0.5% in the second quarter.
Bank Negara Malaysia Governor Zeti Akhtar Aziz said the economy is likely to remain on a "steady growth path" at between 5.5% and 6.0% this year, driven by resilient domestic demand on the back of low unemployment. Next year, the economy is expected to grow 5.0% to 6.0%, she said.
"While private consumption may moderate, investment activity will be supported by continued flow of ongoing and new projects by the private and public sectors," Ms. Zeti told reporters.
Following are selected economic indicators released by the central bank:
3rd Qtr 2nd Qtr
Gross Domestic Product +5.6% +6.5%
Manufacturing +5.3% +7.3%
Services sector +6.1% +6.2%
Mining sector +1.4% +2.1%
Agriculture sector +4.0% +7.1%
Private Consumption +6.7% +6.5%
Public Consumption +5.3% -0.5%
Write to Jason Ng at [email protected]
http://www.marketwatch.com/story/malaysias-economy-slowing-2014-11-14
Dow, S&P 500 at fresh records on solid US, German data
POSTED: 19 Nov 2014 05:15
UPDATED: 19 Nov 2014 05:39
The Dow Jones Industrial Average added 40.07 points (0.23 per cent) at 17,687.82, besting a record set last week by about 35 points.
NEW YORK: The Dow and S&P 500 on Tuesday (Nov 18) closed at fresh records following solid economic data from Germany and the US.
The Dow Jones Industrial Average added 40.07 points (0.23 per cent) at 17,687.82, besting a record set last week by about 35 points. The S&P 500 gained 10.48 points (0.51 per cent) to 2,051.80, notching its third straight record, while the tech-rich Nasdaq Composite Index advanced 31.44 points (0.67 per cent) to 4,702.44.
US homebuilder confidence rose by four points to 58, according to the National Association of Home Builders/Wells Fargo Housing Market Index.
Germany's DAX 30 rose 1.6 per cent as investor confidence in Europe's biggest economy jumped back into positive territory in November after reaching a 22-month low in October, according to the ZEW economic institute.
Brent Schutte, market strategist at BMO Global Asset Management, said the market was also cheered by news that Japan would delay a sales tax increase. "I think today it was what's happening outside the US that actually propelled the US market higher," he said.
Home Depot, a Dow component, fell 2.1 per cent after reporting third-quarter earnings of US$1.15 per share that bested analyst expectations by two cents.
The home improvement retailer said it could not yet estimate the costs of the breach of its systems, in which cybercriminals stole 56 million credit card numbers and 53 million email addresses. Home Depot said expenses could include reimbursements for credit card fraud and future civil litigation.
Medical equipment supplier Medtronic rose 4.7 per cent after reporting second-quarter earnings of 96 cents per share, matching expectations. Medtronic also said it still planned to proceed with the acquisition of Ireland-based Covidien despite US Treasury rules discouraging transactions designed to relocate to lower-tax jurisdictions.
Solar energy company SunEdison surged 29.3 per cent after it and its subsidiary TerraForm Power announced a deal to purchase First Wind, a leading developer of wind projects in the US, for US$2.4 billion.
Bond prices rose. The yield on the 10-year US Treasury dipped to 2.32 per cent from 2.34 per cent on Monday, while the 30-year fell to 3.04 per cent from 3.06 per cent. Bond yields and prices move inversely.
- AFP/de
http://www.channelnewsasia.com/news/business/dow-s-p-500-at-fresh/1480492.html
POSTED: 19 Nov 2014 05:15
UPDATED: 19 Nov 2014 05:39
The Dow Jones Industrial Average added 40.07 points (0.23 per cent) at 17,687.82, besting a record set last week by about 35 points.
NEW YORK: The Dow and S&P 500 on Tuesday (Nov 18) closed at fresh records following solid economic data from Germany and the US.
The Dow Jones Industrial Average added 40.07 points (0.23 per cent) at 17,687.82, besting a record set last week by about 35 points. The S&P 500 gained 10.48 points (0.51 per cent) to 2,051.80, notching its third straight record, while the tech-rich Nasdaq Composite Index advanced 31.44 points (0.67 per cent) to 4,702.44.
US homebuilder confidence rose by four points to 58, according to the National Association of Home Builders/Wells Fargo Housing Market Index.
Germany's DAX 30 rose 1.6 per cent as investor confidence in Europe's biggest economy jumped back into positive territory in November after reaching a 22-month low in October, according to the ZEW economic institute.
Brent Schutte, market strategist at BMO Global Asset Management, said the market was also cheered by news that Japan would delay a sales tax increase. "I think today it was what's happening outside the US that actually propelled the US market higher," he said.
Home Depot, a Dow component, fell 2.1 per cent after reporting third-quarter earnings of US$1.15 per share that bested analyst expectations by two cents.
The home improvement retailer said it could not yet estimate the costs of the breach of its systems, in which cybercriminals stole 56 million credit card numbers and 53 million email addresses. Home Depot said expenses could include reimbursements for credit card fraud and future civil litigation.
Medical equipment supplier Medtronic rose 4.7 per cent after reporting second-quarter earnings of 96 cents per share, matching expectations. Medtronic also said it still planned to proceed with the acquisition of Ireland-based Covidien despite US Treasury rules discouraging transactions designed to relocate to lower-tax jurisdictions.
Solar energy company SunEdison surged 29.3 per cent after it and its subsidiary TerraForm Power announced a deal to purchase First Wind, a leading developer of wind projects in the US, for US$2.4 billion.
Bond prices rose. The yield on the 10-year US Treasury dipped to 2.32 per cent from 2.34 per cent on Monday, while the 30-year fell to 3.04 per cent from 3.06 per cent. Bond yields and prices move inversely.
- AFP/de
http://www.channelnewsasia.com/news/business/dow-s-p-500-at-fresh/1480492.html
Global economy stumbles, but Singapore uptick still seen
Export demand is less likely a problem for growth than domestic labour market tightness and rising US interest rates
By Teh Shi [email protected]@TehShiNingBT
21 Nov 5:50 AM
Singapore
THE global economy - which Singapore now relies on more heavily to support growth given domestic restructuring's drag - has been handed a negative report card in a week heavy with economic data: Japan fell unexpectedly into recession, the eurozone's recovery stalled and China's factory output shrank.
These rising concerns over global growth will feed into Singapore's own official growth forecast for 2015 - to be announced next Tuesday along with third-quarter gross domestic product (GDP) figures.
But private-sector economists still expect Singapore to benefit from improved external demand for exports in the coming quarters. Export demand is less likely to pose a problem for growth than domestic labour market tightness and the impact of the imminent hike in US interest rates.
Most analysts would not go as far as UK Prime Minister David Cameron did at the start of this week - to declare that "red warning lights are once again flashing on the dashboard of the global economy", even though one weak data release has followed another since.
Japan announced a surprise descent into recession with its economy contracting an annualised 1.6 per cent in Q3 from the quarter before as a sales tax hike dampened consumption. The eurozone narrowly averted recession, barely growing 0.1 per cent in Q3, only to face a slump in Markit's flash manufacturing purchasing managers' index (PMI) on Thursday - a "serious blow to hopes that the recovery would resume towards the end of the year", Capital Economics said.
China too, showed signs of further slowdown. News of slumps in investment inflows and home prices were capped on Thursday by the HSBC-Markit flash manufacturing PMI falling to a six-month low as the output measure contracted for the first time since May.
The latest US Federal Open Market Committee minutes showed worries that disappointing growth in Europe, Japan and China, and the stronger US dollar, could restrain US exports.
OCBC economist Selena Ling sees these as "amber lights", given that the US economy has continued to grow steadily, while Barclays economist Leong Wai Ho thinks there is a need to "look beyond the noise" in a 2014 that has been full of challenges to growth, from conflict and unrest to epidemics and bad weather.
"The US investment cycle and consumer confidence appear to be pushing steadily higher and this means that demand from the US will be stronger. Singapore and indeed, most of East Asia, is heavily leveraged to the US investment cycle. This will at least offset the weakness we see in the EU and China," said Mr Leong.
Low global oil prices will help the US' large, domestically-oriented economy too, said Standard Chartered Bank economist Edward Lee.
And even the slowdown in China may be a concern more for commodity exporters, said Capital Economics' Asia economist Daniel Martin. "Its demand for the type of goods that Singapore exports should remain strong," he added.
Last month, the Ministry of Trade and Industry (MTI) released advance estimates that put Singapore's Q3 GDP growth at 2.4 per cent year-on-year, unchanged from growth in Q2. Economists polled by Bloomberg say this may be revised up to 3.2 per cent, when final growth figures are announced next Tuesday. The official forecast for the coming year is typically unveiled then too.
The Monetary Authority of Singapore's policy statement last month outlined expectations that global growth would be uneven - with the US continuing to lead the global recovery, weak growth in Japan and the eurozone, and moderating growth in China. This, it said should provide some support to externally-oriented sectors of Singapore's economy, such as manufacturing and trade-related services, projecting GDP growth of 2.5-3.5 per cent in 2014 and "a broadly similar pace of expansion" in 2015.
UOB economist Francis Tan does not expect recent disappointments in the global economy to affect this view much. Japan's recession was probably the largest surprise, but the economy will likely rebound now that the second tax hike has been postponed, he said.
It would not be difficult for exports to surpass this year's performance, Mr Lee noted. Non-oil domestic exports for the first 10 months of this year shrank 1.9 per cent, and total exports grew a meagre 0.4 per cent, a very modest improvement over last year.
Hence, the main risks on the horizon are the degree of China's economic adjustment and the market volatility that may arise as the US Federal Reserve tightens policy, Ms Ling said. In Mr Martin's view, this would push up interest rates in Singapore, and the slowdown in credit growth will be a drag on the economy too.
But domestic restructuring is still the strongest drag, as the tight labour market raises business costs and constrains growth. "The pain is, however, necessary for us to get to a new level of services productivity," Mr Leong added.
http://www.businesstimes.com.sg/gov...nomy-stumbles-but-singapore-uptick-still-seen
Export demand is less likely a problem for growth than domestic labour market tightness and rising US interest rates
By Teh Shi [email protected]@TehShiNingBT
21 Nov 5:50 AM
Singapore
THE global economy - which Singapore now relies on more heavily to support growth given domestic restructuring's drag - has been handed a negative report card in a week heavy with economic data: Japan fell unexpectedly into recession, the eurozone's recovery stalled and China's factory output shrank.
These rising concerns over global growth will feed into Singapore's own official growth forecast for 2015 - to be announced next Tuesday along with third-quarter gross domestic product (GDP) figures.
But private-sector economists still expect Singapore to benefit from improved external demand for exports in the coming quarters. Export demand is less likely to pose a problem for growth than domestic labour market tightness and the impact of the imminent hike in US interest rates.
Most analysts would not go as far as UK Prime Minister David Cameron did at the start of this week - to declare that "red warning lights are once again flashing on the dashboard of the global economy", even though one weak data release has followed another since.
Japan announced a surprise descent into recession with its economy contracting an annualised 1.6 per cent in Q3 from the quarter before as a sales tax hike dampened consumption. The eurozone narrowly averted recession, barely growing 0.1 per cent in Q3, only to face a slump in Markit's flash manufacturing purchasing managers' index (PMI) on Thursday - a "serious blow to hopes that the recovery would resume towards the end of the year", Capital Economics said.
China too, showed signs of further slowdown. News of slumps in investment inflows and home prices were capped on Thursday by the HSBC-Markit flash manufacturing PMI falling to a six-month low as the output measure contracted for the first time since May.
The latest US Federal Open Market Committee minutes showed worries that disappointing growth in Europe, Japan and China, and the stronger US dollar, could restrain US exports.
OCBC economist Selena Ling sees these as "amber lights", given that the US economy has continued to grow steadily, while Barclays economist Leong Wai Ho thinks there is a need to "look beyond the noise" in a 2014 that has been full of challenges to growth, from conflict and unrest to epidemics and bad weather.
"The US investment cycle and consumer confidence appear to be pushing steadily higher and this means that demand from the US will be stronger. Singapore and indeed, most of East Asia, is heavily leveraged to the US investment cycle. This will at least offset the weakness we see in the EU and China," said Mr Leong.
Low global oil prices will help the US' large, domestically-oriented economy too, said Standard Chartered Bank economist Edward Lee.
And even the slowdown in China may be a concern more for commodity exporters, said Capital Economics' Asia economist Daniel Martin. "Its demand for the type of goods that Singapore exports should remain strong," he added.
Last month, the Ministry of Trade and Industry (MTI) released advance estimates that put Singapore's Q3 GDP growth at 2.4 per cent year-on-year, unchanged from growth in Q2. Economists polled by Bloomberg say this may be revised up to 3.2 per cent, when final growth figures are announced next Tuesday. The official forecast for the coming year is typically unveiled then too.
The Monetary Authority of Singapore's policy statement last month outlined expectations that global growth would be uneven - with the US continuing to lead the global recovery, weak growth in Japan and the eurozone, and moderating growth in China. This, it said should provide some support to externally-oriented sectors of Singapore's economy, such as manufacturing and trade-related services, projecting GDP growth of 2.5-3.5 per cent in 2014 and "a broadly similar pace of expansion" in 2015.
UOB economist Francis Tan does not expect recent disappointments in the global economy to affect this view much. Japan's recession was probably the largest surprise, but the economy will likely rebound now that the second tax hike has been postponed, he said.
It would not be difficult for exports to surpass this year's performance, Mr Lee noted. Non-oil domestic exports for the first 10 months of this year shrank 1.9 per cent, and total exports grew a meagre 0.4 per cent, a very modest improvement over last year.
Hence, the main risks on the horizon are the degree of China's economic adjustment and the market volatility that may arise as the US Federal Reserve tightens policy, Ms Ling said. In Mr Martin's view, this would push up interest rates in Singapore, and the slowdown in credit growth will be a drag on the economy too.
But domestic restructuring is still the strongest drag, as the tight labour market raises business costs and constrains growth. "The pain is, however, necessary for us to get to a new level of services productivity," Mr Leong added.
http://www.businesstimes.com.sg/gov...nomy-stumbles-but-singapore-uptick-still-seen
Great news for all! Pandan Bridge upgrading set to complete before CNY. The central divider will shift sideways to overcome the gas pipe issue. So clever...... Ha
http://mykampung.sinchew.com.my/node/330846?tid=6
（柔佛‧新山21日訊）施工建橋如火如荼，新山地不佬大道班蘭路段拓寬工程，預計將在明年2月的華人農曆新年之前完工，全面開通7條車道，舒緩交通流量。
巴西古當區國會議員諾瑪拉沙末表示，屆時，將從原有的來回各2條條車道，增加至哥打丁宜往新山方向3條車道，新山往哥打丁宜方向4條車道。
她指出，該工程進展順利，惟較早前，承包商發現新山班蘭市場外的右側路段，橋底的天然輸送氣管移除工作非常複雜及耗時，或造成工程延誤。
“因此，負責工程的依斯干達特區發展局（IRDA）決定將道路分界堤往左側移動，設於現有道路，加快工程進度。”
她是於今日率領媒體前往施工地段視察後，在新聞發佈會上如是透露；其他出席者包括柔佛州務大臣特別事務官陳書北、新山中區市議員陳傳平、新山市議員楊國良等。
據瞭解，有關位於班蘭河上方，共耗資1千200萬令吉的工程，其橋身路段已經建好，現階段正展開道路銜接、建設分界堤等工作。
陳書北： 須探討替代方案 疏緩新山交通流量
陳書北指出，地不佬大道班蘭路段拓寬工程自2013年8月展開清理工作，今年華人農曆新年後正式進入拓寬工程，迄今約1年的時間。
他說，基於橋底的天然氣輸送管等問題，因此，工程的藍圖有必要作出改變，但不影響施工。
他認為，新山交通流量日益增加，當局有必要探討其它替代方案，以應付駕駛人士的需求。
“我們已經向州政府提出2個方案：第一，從東疏大道（EDL）班蘭出口處興建一座直達烏魯地南的雙層汽車高架天橋，並途經柔佛再也、高雅花園和優景鎮3個站點；第二，從峇卡巴都（Bakar Batu）開拓一條貫穿士乃迪沙魯大道，直達哥打路的道路。”
他表示，有關建議將交由中央政府決定，是否被列入第十一大馬計劃當中。
諾瑪拉沙末：修復下陷橋身 22萬建新橋明年動工
另一方面，針對甘榜馬來由班蘭橋身下陷問題，諾瑪拉沙末也在新聞發佈會上表示，新山市政局將耗資22萬令吉，在該橋旁增建一座新橋，同時對現有的橋展開修復工作。
她表示，在她與各相關單位協調後，新山市政局已在上個星期委任承包商，預料可在明年2月下旬完工。
“新橋將是9米寬、20米長的雙向橋，可承受高達70噸的重量，讓包括重型車輛在內的車子使用。”
至於原有位的雙向橋，則將在完成修復工作後，開放讓行人與摩哆車川行。
她補充，甘榜馬來由班蘭（Kampung Melayu Pandan）已有逾70年的歷史，目前約有280戶居民。
該座作為甘榜馬來由班蘭通往新山地不佬大道的主要通道的石橋，則位於馬斯基路（Jalan Masjid），過去一年因橋身下陷等問題，導致居民出入不便
“沒跟進橋身下陷事件” 陳傳平抨廖彩彤失責
此外，陳傳平也在發佈會上指行動黨柔佛再也區州議員廖彩彤沒有“以身作則”，跟進甘榜馬來由班蘭橋身下陷事件。
他抨擊對方沒有履行州議員的責任，反而是國會議員有務實地去處理上述問題。
“她除了曾在8月份召開記者會並寫信投訴後，根本沒有到市議會或水利灌溉局跟進這起事件。”（星洲日報‧大柔佛）
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http://mykampung.sinchew.com.my/node/330846?tid=6
（柔佛‧新山21日訊）施工建橋如火如荼，新山地不佬大道班蘭路段拓寬工程，預計將在明年2月的華人農曆新年之前完工，全面開通7條車道，舒緩交通流量。
巴西古當區國會議員諾瑪拉沙末表示，屆時，將從原有的來回各2條條車道，增加至哥打丁宜往新山方向3條車道，新山往哥打丁宜方向4條車道。
她指出，該工程進展順利，惟較早前，承包商發現新山班蘭市場外的右側路段，橋底的天然輸送氣管移除工作非常複雜及耗時，或造成工程延誤。
“因此，負責工程的依斯干達特區發展局（IRDA）決定將道路分界堤往左側移動，設於現有道路，加快工程進度。”
她是於今日率領媒體前往施工地段視察後，在新聞發佈會上如是透露；其他出席者包括柔佛州務大臣特別事務官陳書北、新山中區市議員陳傳平、新山市議員楊國良等。
據瞭解，有關位於班蘭河上方，共耗資1千200萬令吉的工程，其橋身路段已經建好，現階段正展開道路銜接、建設分界堤等工作。
陳書北： 須探討替代方案 疏緩新山交通流量
陳書北指出，地不佬大道班蘭路段拓寬工程自2013年8月展開清理工作，今年華人農曆新年後正式進入拓寬工程，迄今約1年的時間。
他說，基於橋底的天然氣輸送管等問題，因此，工程的藍圖有必要作出改變，但不影響施工。
他認為，新山交通流量日益增加，當局有必要探討其它替代方案，以應付駕駛人士的需求。
“我們已經向州政府提出2個方案：第一，從東疏大道（EDL）班蘭出口處興建一座直達烏魯地南的雙層汽車高架天橋，並途經柔佛再也、高雅花園和優景鎮3個站點；第二，從峇卡巴都（Bakar Batu）開拓一條貫穿士乃迪沙魯大道，直達哥打路的道路。”
他表示，有關建議將交由中央政府決定，是否被列入第十一大馬計劃當中。
諾瑪拉沙末：修復下陷橋身 22萬建新橋明年動工
另一方面，針對甘榜馬來由班蘭橋身下陷問題，諾瑪拉沙末也在新聞發佈會上表示，新山市政局將耗資22萬令吉，在該橋旁增建一座新橋，同時對現有的橋展開修復工作。
她表示，在她與各相關單位協調後，新山市政局已在上個星期委任承包商，預料可在明年2月下旬完工。
“新橋將是9米寬、20米長的雙向橋，可承受高達70噸的重量，讓包括重型車輛在內的車子使用。”
至於原有位的雙向橋，則將在完成修復工作後，開放讓行人與摩哆車川行。
她補充，甘榜馬來由班蘭（Kampung Melayu Pandan）已有逾70年的歷史，目前約有280戶居民。
該座作為甘榜馬來由班蘭通往新山地不佬大道的主要通道的石橋，則位於馬斯基路（Jalan Masjid），過去一年因橋身下陷等問題，導致居民出入不便
“沒跟進橋身下陷事件” 陳傳平抨廖彩彤失責
此外，陳傳平也在發佈會上指行動黨柔佛再也區州議員廖彩彤沒有“以身作則”，跟進甘榜馬來由班蘭橋身下陷事件。
他抨擊對方沒有履行州議員的責任，反而是國會議員有務實地去處理上述問題。
“她除了曾在8月份召開記者會並寫信投訴後，根本沒有到市議會或水利灌溉局跟進這起事件。”（星洲日報‧大柔佛）
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Malaysia's hard-won fiscal progress falls victim to oil price rout
By Andy Mukherjee
4 Dec 5:50 AM
Singapore
JUST when Malaysia was beginning to plug the holes in its public finances, the prospect of a sharp reduction in oil revenue is threatening to undermine fiscal progress and weaken the currency.
Petronas is playing spoiler. The state energy company recently warned that its contribution to the government's exchequer - in the form of dividends, taxes and royalties - could slide 37 per cent next year from an estimated 68 billion ringgit (S$25.9 billion) in 2014.
Such a shortfall in the main source of government's oil-and-gas revenue would easily exceed 2 per cent of GDP. That would wipe out the 1.7 per cent of GDP in annual savings the government hopes to achieve by scrapping domestic fuel subsidies from Dec 1.
The fiscal hit could be even larger if oil prices next year remain below the US$75 a barrel on which Petronas based its forecast. That would threaten the government's target of reducing the budget deficit to 3 per cent of GDP, from an estimated 3.5 per cent this year.
The finance ministry is refusing to give up on the 2015 target just yet. It may hope that Petronas can be persuaded to make a less drastic cut in its dividend payment.
Investors, though, aren't taking any chances. The Malaysian ringgit has weakened almost 3 per cent against the dollar since Nov 27, amidst concerns that the government will be forced to cut public expenditure, dragging GDP expansion in the commodity-exporting economy well below the current consensus of 5 per cent-plus growth.
The currency slide may extend - with tacit approval from the central bank. At 2.8 per cent, the annual inflation rate is tame. A weaker currency could lift the prices of imported goods, giving Malaysia's overburdened household debtors some relief from unexpected disinflation. A 6 per cent goods and services tax, which Malaysia plans to introduce from April 1, might also boost consumer prices temporarily.
In the long run, the GST will lower the government's overdependence on oil and gas revenue from ageing fields. Getting rid of wasteful fuel subsidies will protect the budget from any future spike in world energy prices. But in the short run, oil's slide is not good news for Malaysia. The sweet fruits of hard-won fiscal progress have soured rather suddenly.
http://www.businesstimes.com.sg/opi...iscal-progress-falls-victim-to-oil-price-rout
By Andy Mukherjee
4 Dec 5:50 AM
Singapore
JUST when Malaysia was beginning to plug the holes in its public finances, the prospect of a sharp reduction in oil revenue is threatening to undermine fiscal progress and weaken the currency.
Petronas is playing spoiler. The state energy company recently warned that its contribution to the government's exchequer - in the form of dividends, taxes and royalties - could slide 37 per cent next year from an estimated 68 billion ringgit (S$25.9 billion) in 2014.
Such a shortfall in the main source of government's oil-and-gas revenue would easily exceed 2 per cent of GDP. That would wipe out the 1.7 per cent of GDP in annual savings the government hopes to achieve by scrapping domestic fuel subsidies from Dec 1.
The fiscal hit could be even larger if oil prices next year remain below the US$75 a barrel on which Petronas based its forecast. That would threaten the government's target of reducing the budget deficit to 3 per cent of GDP, from an estimated 3.5 per cent this year.
The finance ministry is refusing to give up on the 2015 target just yet. It may hope that Petronas can be persuaded to make a less drastic cut in its dividend payment.
Investors, though, aren't taking any chances. The Malaysian ringgit has weakened almost 3 per cent against the dollar since Nov 27, amidst concerns that the government will be forced to cut public expenditure, dragging GDP expansion in the commodity-exporting economy well below the current consensus of 5 per cent-plus growth.
The currency slide may extend - with tacit approval from the central bank. At 2.8 per cent, the annual inflation rate is tame. A weaker currency could lift the prices of imported goods, giving Malaysia's overburdened household debtors some relief from unexpected disinflation. A 6 per cent goods and services tax, which Malaysia plans to introduce from April 1, might also boost consumer prices temporarily.
In the long run, the GST will lower the government's overdependence on oil and gas revenue from ageing fields. Getting rid of wasteful fuel subsidies will protect the budget from any future spike in world energy prices. But in the short run, oil's slide is not good news for Malaysia. The sweet fruits of hard-won fiscal progress have soured rather suddenly.
http://www.businesstimes.com.sg/opi...iscal-progress-falls-victim-to-oil-price-rout
Looks like the SG Govt is gearing up for the confirmation of RTS location this mth. A commercial site at Woodlands has been placed on the reserve list, possibly in anticipation of the announcement soon?
Supply of Commercial Space
The Government is releasing a second commercial site in Woodlands Regional Centre at Woodlands Square for sale via the Reserve List of the 1H2015 GLS Programme. This will sustain the development momentum of Woodlands Regional Centre as a major commercial node outside the city, in line with the Government’s objective of decentralising employment centres to bring job opportunities closer to homes.
The 1H2015 Reserve List will have 2 other sites for predominantly office developments. The White site at Marina View and commercial site at Beach Road will be carried over from the 2H2014 Reserve List. Together with the Woodlands Square site, these sites will allow developers to initiate the development of more office space if they assess that there is demand.
http://www.ura.gov.sg/uol/media-room.../pr14-74a.aspx
Supply of Commercial Space
The Government is releasing a second commercial site in Woodlands Regional Centre at Woodlands Square for sale via the Reserve List of the 1H2015 GLS Programme. This will sustain the development momentum of Woodlands Regional Centre as a major commercial node outside the city, in line with the Government’s objective of decentralising employment centres to bring job opportunities closer to homes.
The 1H2015 Reserve List will have 2 other sites for predominantly office developments. The White site at Marina View and commercial site at Beach Road will be carried over from the 2H2014 Reserve List. Together with the Woodlands Square site, these sites will allow developers to initiate the development of more office space if they assess that there is demand.
http://www.ura.gov.sg/uol/media-room.../pr14-74a.aspx
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Resonates my view of the precarious situation that Malaysia is in now, but that's no way back now.
Dr Mahathir slams Umno silence over 1MDB, TPPA
.... "The question is not about the increase in electricity tariff from buying power-generating stations, but from the high price used to buy it, paid with the debt money which has the highest interest rate imposed on the government and commissions to Goldman Sachs at 11%," the former prime minister wrote in his popular blog today.
"And why did they invest or keep their money in the Cayman Islands, which is a hedge fund operation base? The government usually does not invest in hedge funds as it is a form of gambling." ....
"The Malaysian government has been called on many times to invest in hedge funds with guaranteed returns of 30% but it was always rejected. Gambling is not a way for the government to look for funds, whether directly or indirectly," he added.
Dr Mahathir, who was Malaysia's longest-serving prime minister, had previously asked Putrajaya to explain how 1MDB benefited Malaysians, especially since it incurred an RM38 billion debt within just five years of its operations.
Dr Mahathir had said there was no need for 1MDB as it only added to the country's debt.
"1MDB is said to be a sovereign wealth fund, but it is not. It is money that we have borrowed. When we borrow, we have to pay back. This is not wealth".....
Besides that, Dr Mahathir said the Umno general assembly had also failed to address the country's education system which is causing a huge divide between the poor and the wealthy.
"The rich go to English schools, acquire important education and find it easy to get jobs. The poor go to national schools with poor command of English and are left behind in Science and Mathematics. They find it difficult to find high-paying jobs.
"It is true that making it easier to pass examinations is popular and well-accepted. But what is well-accepted is sometimes not good for them.
"It is unfortunate that popularity is given priority instead of the fate of the people who have to accept policies which are not good for them. They are the victims, not the kids of rich people," he added.
Source:
https://sg.news.yahoo.com/dr-mahathir-slams-umno-silence-over-1mdb-tppa-013124314.html
Dr Mahathir slams Umno silence over 1MDB, TPPA
.... "The question is not about the increase in electricity tariff from buying power-generating stations, but from the high price used to buy it, paid with the debt money which has the highest interest rate imposed on the government and commissions to Goldman Sachs at 11%," the former prime minister wrote in his popular blog today.
"And why did they invest or keep their money in the Cayman Islands, which is a hedge fund operation base? The government usually does not invest in hedge funds as it is a form of gambling." ....
"The Malaysian government has been called on many times to invest in hedge funds with guaranteed returns of 30% but it was always rejected. Gambling is not a way for the government to look for funds, whether directly or indirectly," he added.
Dr Mahathir, who was Malaysia's longest-serving prime minister, had previously asked Putrajaya to explain how 1MDB benefited Malaysians, especially since it incurred an RM38 billion debt within just five years of its operations.
Dr Mahathir had said there was no need for 1MDB as it only added to the country's debt.
"1MDB is said to be a sovereign wealth fund, but it is not. It is money that we have borrowed. When we borrow, we have to pay back. This is not wealth".....
Besides that, Dr Mahathir said the Umno general assembly had also failed to address the country's education system which is causing a huge divide between the poor and the wealthy.
"The rich go to English schools, acquire important education and find it easy to get jobs. The poor go to national schools with poor command of English and are left behind in Science and Mathematics. They find it difficult to find high-paying jobs.
"It is true that making it easier to pass examinations is popular and well-accepted. But what is well-accepted is sometimes not good for them.
"It is unfortunate that popularity is given priority instead of the fate of the people who have to accept policies which are not good for them. They are the victims, not the kids of rich people," he added.
Source:
https://sg.news.yahoo.com/dr-mahathir-slams-umno-silence-over-1mdb-tppa-013124314.html
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halo dey cum to singapo be san ji pian scorer cum interpol wanted list loh
He was actually the chief culprit for changing the language of instruction in schools from English to the Malay during his term as PM!
As for the 1MDB issue, he was kept out of the PM's inner circle and he is out of any decisions making on the 1MDB matter, hence the synchronized bitching together with the former finance minister!
I think there was some effort to change it. But failed
The is less resistanc from the older generation under the British rule. As they went through the same education system.
But as the newer generation take over it will be harder as the exposure is not there.
The is less resistanc from the older generation under the British rule. As they went through the same education system.
But as the newer generation take over it will be harder as the exposure is not there.
He admitted his kids went to private schools while he try to make others go through the public system hoping that his clans can rule forever.
When his son failed to make into the inner circle, he started to attack the very system he created.
I think you've got it wrong here. Actually, he did advocated and started using English to teach Science and Mathematics during his term in 1996, but was overturned by the evil Muhyiddin (DPM) in 2009: http://www.google.com.my/url?sa=t&rct=j&q=&esrc=s&source=web&cd=7&ved=0CE0QFjAG&url=http%3A%2F%2Fwww.chinesechamber.org.my%2Fhtml%2Fthemes%2Fchinesechamber%2Fimages%2Fcontent%2Fbulletin342%2FTeaching%2520of%2520Mathematics%2520and%2520Science%2520in%2520English%2520in%2520Malayisa.pdf&ei=oASFVOW-NY23uASPkoGgCg&usg=AFQjCNG2bf3sBp6DrXmiTiKBKBwC4HuqEA&bvm=bv.80642063,d.c2E
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The buck stops with the autocratic PM. Do not blame anyone else.
Actually the first switch is in 1976 where Geography and History were first taught in BM at Form 4 level.
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