Train service between JB Central and Singapore starts 01 Dec 2014
http://tw.gigacircle.com/2992660-1
That's RTS
Train service between JB Central and Singapore starts 01 Dec 2014
http://tw.gigacircle.com/2992660-1
Things are looking a little gloomy for Malaysia as oil price is plummeting so rapidly in recent weeks.
When the Budget 2015 was presented, it was based on the crude oil price at US$105 per barrel.
Today, the oil price is around US$76 per barrel with forecast that it may dip to way below US$70 if OPEC still refuse to cut production.
With oil price dipping so much so soon, the savings from cut in fuel subsidy has turn to nought while the Budget will definitely run into severe deficit.
Then, some major projects may be shelved or cancelled and extra revenue has to be sought.
According to some reports, if oil price falls to US$70 per barrel, it would mean a loss of RM22.75 billion in revenue and at US$60 per barrel, a loss of RM29.25 billion!!!
So, how are they going to meet the budget shortfall and what will be the contingency plan is anyone's guess.
Things are looking a little gloomy for Malaysia as oil price is plummeting so rapidly in recent weeks.
When the Budget 2015 was presented, it was based on the crude oil price at US$105 per barrel.
Today, the oil price is around US$76 per barrel with forecast that it may dip to way below US$70 if OPEC still refuse to cut production.
With oil price dipping so much so soon, the savings from cut in fuel subsidy has turn to nought while the Budget will definitely run into severe deficit.
Then, some major projects may be shelved or cancelled and extra revenue has to be sought.
According to some reports, if oil price falls to US$70 per barrel, it would mean a loss of RM22.75 billion in revenue and at US$60 per barrel, a loss of RM29.25 billion!!!
So, how are they going to meet the budget shortfall and what will be the contingency plan is anyone's guess.
It's got both pros & cons. For me, more pros than cons. Coz taking away fuel subsidy risk social disorder. The lower oil prices offset the subsidy removal. Long run cost savings it's no Brainer. After some time, public will not have strong reaction when oil prices creeps back Up. Budget deficit is something Malaysia is not new too. I dun see it as any issue whatsoever. Gst & recovering oil prices will cover back the deficit in a yr or two.
Juz my 2cents.
There are indeed pro and cons when oil price plummet but not in the way you put it.
From 01 Dec 2014, fuel subsidy will be removed and will move to a managed float system to determine pump prices.
But removal of fuel subsidy came at a time when crude price has drop to US$76 so fuel price can be even cheaper from next month while the govt. saved nothing!
So, if international crude oil price drops further, the public will be actually getting cheaper fuel price based on the new float system and this will also benefit all transport companies -buses, taxis, trucks, airlines etc.
In the 2015 Budget, revenue from GST is already factored in but when oil revenue may shrink by more than RM20 billion, the Budget will run into gross deficit, what will happen in 2016 and beyond is not the concern here.
The country has to have the contingency plan to overcome the revenue shortfall for the year!
Some countries who are heavily dependent on revenue from oil are already starting to revise their Budget downwards, one example is Venezuela.
How can flooding be bad news? The heavy downpour in recent years due to changes in world cilmate has made flooding occurred more regularly. Afterall, Singapore with its $300,000 a month Minister cant solve flooding and we expect the Johor Bahru MB who is paid S$10,000 ( 30 times less / 3000% lesser ) to solve flooding?
If JB got no flood, we have to import Johor Menteri Besar as Foreign Talent into our Cabinet & kick up the $300,000 a month ministers
Kekeke..it sounds funny.more to a joke .on second thought,there are hard facts to it!
Wow. Looks bad.
Where is this location?
I don't think I have seen such severe flooding in recent times especially in Johor. I might be mistaken though.
I have a duty to remind people that its not a bed of roses in Singapore and JB is not a funeral parlour everday.