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Archive for the 'Economy' Category

Bank Negara allows ringgit to drop below 3.80 to dollar

For the past three weeks, the Malaysian authorities have allowed the ringgit to trade below levels that in 1998 prompted them to impose a dollar peg and capital controls. Economists expect more downside, with the Federal Reserve set to raise US interest rates. The ringgit has traded around 3.81 per dollar since July 6, exceeding […]

Minister: Malaysian ringgit could plunge to 1998 levels if 1MDB debt unpaid

KUALA LUMPUR, June 3 — Malaysia must resolve 1Malaysia Development’s (1MDB) debt issue or risk a negative chain of events, including a possible downgrade to the country’s credit outlook or a plunge in value of the ringgit, Datuk Seri Ahmad Husni Hanadzlah warned today. Explaining this, the second finance minister said if Putrajaya is forced […]

With abolition of RM 35 service for online worker permit renewals from May 2, MyEG must refund employers who have paid such fees since January 5

Media Statement by Teresa Kok, DAP National Vice Chairperson and MP for Seputeh in Kuala Lumpur on Thursday, April 30, 2015 With abolition of RM 35 service for online worker permit renewals from May 2, MyEG must refund employers who have paid such fees since January 5 With the announcement by Immigration Director General Dato […]

KUALA LUMPUR, April 3 ― DAP’s Teresa Kok today urged Putrajaya to explain why the April rate for the RON97 petrol remained the same after the Goods and Services Tax (GST), claiming that prices should drop under the new consumption tax system. Explaining, Kok pointed out that according to a Bernama report in 2012, then […]

Malaysia lagging behind South Korea: PM must respond to Forbes’s comments

The Malaysian International Chamber of Commerce and Industry executive director Stewart Forbes said at forum yesterday that Malaysia are 19 years behind South Korea in terms of productivity, naming graft, leakages, complacency and archaic labour laws as road blocks. What he said will not surprise Malaysians because DAP and other opposition parties have always criticized […]

Surging debt at Malaysia’s shadowy fund emerges as new sovereign risk

By Saeed Azhar and Umesh Desai SINGAPORE/HONG KONG, June 2 (Reuters) – Lurking beneath Malaysia’s solid investment-grade sovereign rating is a risk posed by a $14 billion investment fund that is not even generating enough cash from operations to cover interest costs. Regarded as a cross between a sovereign wealth fund and a private investment […]

Many distrust Putrajaya’s remarks on economy, clueless about GST, says Merdeka Center

BY THE MALAYSIAN INSIDER Dec 18, 2013 Pollster Merdeka Center today revealed that half of those surveyed in its recent poll said they “do not believe in the government’s statements about the economy”. The Public Opinion Survey 2013 revealed that 21% of the respondents “strongly disbelieved” any government statement, while the remaining 33% “somewhat disbelieved”. […]

Shahrir Samad calls for end to sugar monopolies

BY THE MALAYSIAN INSIDER Oct 30, 2013 Backbenchers Club chairman Tan Sri Shahrir Abdul Samad (BN-Johor Baru) today called for an end to sugar monopolies in the country now that the sugar subsidy has been removed. “With the subsidy removed, the sugar industry should be liberalised. Import of the commodity should be allowed for instance […]

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