I guess this would not help gdp figures as consumption counts in gdp but not fund transfer.
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Economic News
- Thread starter FHBH12
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I guess this would not help gdp figures as consumption counts in gdp but not fund transfer.
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Last year, I was caught by TP bike for speeding at 160km/hour on PIE at 3am just along Toh Guan. He was kind enough to give me a 2nd chance after I pleaded with him in my Queens' English that I need my car liscense to put food on the table. Ever since, I dont dare to speed in Singapore.
The rise of Nusajaya has given me the chance to speed again. Its my hobby like how girls enjoy shopping for branded items.
I usually speed after I pass the Smart tag.. all the way into the darkness and till I reach JPO.. Exit it.. make a U turn before the Kulai Jusco and genting land and I will speed back to Singapore. Its exciting, fun and isolated. In Singapore there is no way we can do it. Its of no wonder mega companies prefer to shift direct into Iskandar instead of Singapore.
Singapore is a boring place. Accept that.
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What is your weapon of choice?
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You mean if met with robbers? Sorry to say in my decades of roaming around Nusajaya in at any time of the day, I wasn't accosted or robbed or anything. The closest I got was bus kilang or chicken-loaded lorries jokers trying to race me in NS Highway back to Singapore at 3am. The police wont stop a Singapore car for nothing esp if your direction is back to Singapore.
so nice to be cash rich ... buy in cash. can some kind soul analyse this piece of news?
http://www.thestar.com.my/Business/...o-China-firm-for-nearly-RM10b-cash/?style=biz
http://www.thestar.com.my/Business/...o-China-firm-for-nearly-RM10b-cash/?style=biz
Yah correct, that's what I mean.
KUALA LUMPUR: China will buy more Malaysian government bonds and give the country a 50 billion yuan ($7.83 billion) quota to invest in Chinese stocks and bonds as it looks to strengthen ties with Southeast Asia.
Premier Li Keqiang announced the moves at a business forum in Kuala Lumpur, state news agency Xinhua reported on Monday.
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Apart from the 1MDB purchase, additional 50billion Yuan for Malaysia. This is what we called chequebook diplomacy.
You bet the funding of HSR would be in form of some soft loan package just like the Penang 2nd bridge.
China is invading Malaysia with MONEY$$$$ and with plenty of it.
The Chinese are trying to counter balance the US influence with something My needed most now, $$$$$$$.
Buying the questionable assets from the scandalous and debt ridden 1MDB is the beginning. Those assets, which are actually dated over-paid power plants where IPO was aborted twice and had fail to attract any foreign buyers.
1MDB is one company where banks, local and foreign, are all avoiding especially when they defaulted several times on repayment and worse, last year a consortium of foreign banks recalled their US900 million loan prematurely.
Just earlier this year, the foreign funds had pulled out in quick paces no less than RM12 billions, causing slump in the stock market and effecting the RM's decline and investor's confidence directly.
With China directly pumping in fresh funds of 50 billion yuan into the market in near terms, it may arrest the RM's further decline and bring back some life into the stock market.
However, all these are only commitment and yet to be carried out depending on the actual terms of agreement.
But then, MY will be indebted to China for all these commitment whereby no other country can offer, but by how much and in what manner, we shall see.
Agree. Nothing comes for free and there's a price for the favor.
If I recall correctly, China has just been been given the south corridor KL to JB double-tracking rail project - unlike the north corridor project from KL - Padang Besar which is already completed and operational, this south corridor project has long been delayed and is different from the HSR.
The good thing is that JB will benefit from this project as it is likely to be completed before the HSR.
If I recall correctly, China has just been been given the south corridor KL to JB double-tracking rail project - unlike the north corridor project from KL - Padang Besar which is already completed and operational, this south corridor project has long been delayed and is different from the HSR.
The good thing is that JB will benefit from this project as it is likely to be completed before the HSR.
So long as the commitment is for business purposes it should be fine as it will benefit all to some extent..
Hopefully these so called sweet heart loans won't end upin the cronies pockets
No wonder Najib is still in power. The more they support him the more goodies they'll receive. Great for the cronies.
Hopefully these so called sweet heart loans won't end upin the cronies pockets
No wonder Najib is still in power. The more they support him the more goodies they'll receive. Great for the cronies.
Even the Penang 2nd bridge is built by them. In KL, the KTM Komuter trains are Chinese made. The Kl-Ipoh new rail cars also Chinese made.
Walk around KL or Iskandar, you see Chinese contractors building high rises. All these must be due to the baby Panda.
China is all out to win over the ASEAN nations and make their presence felt.
Their recent "invasion" clearly illustrated China's this.
SG is already in their pocket.
Thailand's junta govt is pivoting towards the Chinese. http://news.yahoo.com/under-junta-rule-thailand-pivots-towards-china-054631732.html
Winning the China / Thailand multi billion almost 900 km railway project, with intention to connect SE Asia peninsula to China further, strengthen the ties.http://www.globalconstructionreview.com/news/chinese-rail-project-thailand-re7a8d8y-go-official/
Just recently, Indonesia chose China over the Japs for their new proposed railway between Jakarta and Bandung because Beijing provided $5 billion in loans without asking for guarantees. http://www.abc.net.au/news/2015-09-30/indonesia-awards-major-rail-contract-to-china/6818082
And now, buying up 1MDB's fire sales asset that nobody wanted and injecting billions into the bond and stock in MY, China is doing everything that the US is wishing that they could too but unable.
And I'm not surprised that eventually the HSR will be awarded to the Chinese if MY/SG decided to proceed with the project next year.
Let's keep our fingers crossed that with the Chinese financing, the HSR will materialise soonest !
Not so soon as yet.
MY is critically short of hard cash right now due to the prolong low prices for oil and commodity like crude palm oil where MY is one of the biggest producer in the world.
Because of the massive flight of foreign funds this year, GICs were instructed to liquidate assets overseas to bring back $$$$ to the country to reinvest in MY and to buff up the RM.
And the just announced fire sales of 1MDB assets to China which suffered a loss of RM2.17 billion, (not including a few hundreds of millions USD financing fees and interest paid), clearly shows the desperation!
Furthermore, most financial management and investors still consider MY's political situation as risky.
well, never say never. With Chinese monies, many miracles can happen.
Not too many people know that there are already special economic HUGE industrial parks between China and Malaysia. They are all targetting Malaysia as launching pad for Asean market and many other markets eg Middle East or where direct China export is not encouraged.
Malaysia is a favored visa destination by China. I have visitors from China who said it is very easy to get visa to come to Malaysia. But if they apply visa to go to Indonesia or even to Europe, it is very difficult. Of course tourist groups are different. Come Feb. 2016, electronic visa between the two countries would be implemented. So you can see where the relationship is heading.
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Looks like China have a grander plan then people realise.. Cheque book diplomacy.
By hook or by crook apparently they're trying to buy their way into Malaysia.
Najib 1MDB together with the Johor sultan intention to develop Johor is allowing cash rich China to make a play for Johor.. They'll make it work regardless.
By hook or by crook apparently they're trying to buy their way into Malaysia.
Najib 1MDB together with the Johor sultan intention to develop Johor is allowing cash rich China to make a play for Johor.. They'll make it work regardless.
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