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Thursday, 31 August 2017

60 years of Malaysia’s Independence Day. Unknown/Known Condition's in Malaysia!

Image result for malaysia pics of independence

August 31 is Hari Merdeka or Malaysia's Independence Day. Here's a brief look at Merdeka Day celebrations over the last 60 years and other events that have shaped the nation.

1. Malaysia gained her independence from Great Britain in 1957. Over 20,000 people gathered in Merdeka Square to mark the occasion, including the Duke of Gloucester, the King and Queen of Thailand and the Prime Minister of India. The first prime minister of Malaysia, Tunku Abdul Rahman, chanted some of the most iconic words in Malaysian history,  "Merdeka, Merdeka, Merdeka”.

2. From 1957 onwards, Merdeka celebrations have been held every year in all its grandeur. Dignitaries wear traditional uniforms and costumes, fighter jets fly overhead in a blaze of smoke and military personnel and Kadazan tribal people march through the streets.

3. Inaugural celebrations featured dancing formations that depicted the emblem of the ruling party, Barisan Nasional — or the National Front Coalition Party. Barisan Nasional has ruled Malaysia since 1957, making it one of the longest ruling, democratically installed governments in the world.

4. Up until September 16, 1963, Malaysia was still known as the Federation of Malaya. Two years after Singapore left the federation in 1961, the Bornean states of Sabah and Sarawak merged with Peninsula Malaya to form the new Malaysia.

5. Merdeka Day celebrations in 1963 were nothing short of extravagant with traditional dancers from East Malaysia appearing for the first time in full ceremonial regalia, armed with spears and other tribal items.

6. Malaysia Day, not to be confused with Merdeka Day, is held every September 16 to mark the formation of Malaysia.

7. In 1967, Merdeka celebrations saw perhaps the biggest crowd in Malaysian history. An estimated 50,000 people attended the ceremony to mark the 10th anniversary of Malaysia's independence. Thousands of law enforcement and military personnel marched through Merdeka Square.

8. Merdeka Football Festival has run concurrently with Merdeka celebrations from 1957. The festival is the oldest football event in Asia and has seen teams from all over the world compete for the prestigious trophy. Hong Kong were the inaugural winners in 1957.

9. Malacca City hosted the first Merdeka celebration outside of Stadium Merdeka and Dataran Merdeka in 1985. The decision was the brainchild of Malaysia's "Father of Development" Tun Dr Mahathir Mohammad. The Malacca Club was turned into a Merdeka memorial called the Merdeka Declaration Memorial to archive all past and future Merdeka celebrations.

10. In the same year, one of Malaysia's most iconic acts, the Alleycats, released their chart-topping album Suara Kekasih. Founded in 1978, the Alleycats went on to have a profound impact on Malaysian people and the Malaysian music industry.

11. Following 1963, there was a push for Malaysia, Indonesia and Philippines to form a confederation called Maphilindo. However, there were too many controversies and disputes over territory with then Indonesian president Sukarno putting an end to discussions.

12. Shortly after, Indonesia provided Malaysia with the greatest threat to her independence. They declared war on the Kalimantan-East Malaysia border, laying claims to territories north of Kalimantan. Indonesia only came to officially acknowledge the formation of Malaysia three years later in 1966.

13. Malaysia and her states have been ruled by many invaders over the years from Srivijayan Buddhists and Majapahit Hindus to Portuguese, Dutch and British settlers as well as the Japanese in World War II. Many of these cultures are still present in current day Merdeka celebrations.

So, if you are keen to observe a bit of Malaysian history, be sure to join in the fun this August 31. There will be festivities across the nation with performances, parades and fireworks in most cities.

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Wednesday, 30 August 2017

Malaysia Condemns, Bursa Yesterday’s movement brought the composite index closer to support level.


Malaysia: The escalation in tension between North Korea and US amid the holiday-shortened trading week on the local front has pushed Bursa Malaysia to open 2.55 points lower at 1,758.59 at the opening bell.
At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.54 points easier at 1,759.60. The index finished at 1,761.14 points on Tuesday.
Overall, gainers, however, were slightly higher at 127 to 107 with 129 counters unchanged, 1,476 untraded and 46 others were suspended.
Alliance DBS, in its note, said the FBMKLCI would likely trade below the 1,764.07 level today.
Kenanga Investment Bank Bhd said the local bourse joined other Asian markets to sink into the red yesterday as investors retreated to safe haven assets after North Korea launched a ballistic missile test over Japan.
"Yesterday's movement brought the composite index closer to the 1,764 support level which could potentially woo bargain hunters to enter the market," it said.
Regionally, equity markets were mixed except the countries that were directly impacted by North Korea's military move which were higher this morning.
Japan's Nikkei 225 rose 0.72 per cent to 19,502.54 while South Korea's Kospi advanced 0.17 per cent at 2,368.69.
Singapore's Straits Times fell 0.56 per cent to 3,249.34 and Hong Kong's Hang Seng declined 0.35 per cent to 27,765.01.
Of the index-linked counters, Maybank eased three sen to RM9.43, Tenaga lost six sen to RM14.24, Public Bank was two sen lower at RM20.56 and Sime was one sen better at RM8.99.
CIMB gained three sen to RM6.73.
Among actives, Hubline, KGroup and Palette were flat at six sen, three sen and 15.5 sen, respectively while Huann rose 4.5 sen at 8.5 sen, Iris and AAX added half-a-sen each to 17.5 sen and 37.5 sen, respectively.
MPI added 26 sen to RM13.96, PetronM rose 15 sen to RM8.75, HengYuan edged up 11 sen at RM7.54 while Genting and MISC both added seven sen each to RM9.72 and RM7.32, respectively.
The FBM Emas Index fell 9.31 points to 12,519.46, FBMT 100 Index eased 8.68 points to 12,188.89 and the FBM Emas Shariah Index lost 15.45 points to 12,686.96.
The FBM Ace edge up 40.04 points to 6,555.35 and the FBM 70 was 3.2 points lower at 14,950.38.
Sector-wise, the Industrial Index rose 3.74 points to 3,187.39 while the Plantation Index contracted 11.46 points to 7,824.44 and the Finance Index eased 4.18 points to 16,580.25.

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Tuesday, 29 August 2017

Malaysia officially, we are sticking to the initial forecast 5.6 & 5.8 per cent in the 1st & 2nd quarter.

Image result for Malaysia's gross domestic product
Malaysia's gross domestic product (GDP) can grow at least by five per cent this year if the country maintains its momentum from the first half of the year, said Deputy Finance Minister, Datuk Othman Aziz.
He said the government had to date, not revised the initial growth target of between 4.3 per cent and 4.8 per cent, but may do so, if there are indications of a better performance in the upcoming months.
"If the current momentum can be maintained, I am confident it would be no less than five per cent (GDP growth)," he told reporters after delivering his keynote address at the Annual Financial Planning Signature here today.
Malaysia' GDP grew by 5.6 per cent in the first quarter and 5.8 per cent in the second.
Though many independent reports suggested Malaysia could achieve at least five per cent growth this year, Othman said the government would not set an ambitious target, before being really convinced that it can be achieved.
"Officially, we are sticking to the initial forecast, as we do not want to be too eager in chasing the numbers but fail to achieve the target.
"We have a moderate forecast, but we are doing better than that," he added.
The one-day conference, themed, "Upholding High Integrity - The Cornerstone in Financial Planning", was organised by the Malaysian Financial Planning Council, with the support of the Association of Financial Advisers, Financial Planning Association of Malaysia and the Malaysian Financial Planners and Advisers Association.
The conference is aimed at supporting and building the financial planning profession, as well as to foster a better working relationship among the top four financial planning associations in Malaysia.

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Monday, 28 August 2017

Bursa KLSE was more focused on financial stability rather than to address monetary policies.


Malaysia: Bursa Malaysia kicked-off Monday on a bearish tone, extending last Friday's mood, and in tandem with regional equities market, dealer said.
At 9.06 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.48 points easier at 1,766.69 from last Friday's close of 1,769.17.
The benchmark index opened 2.58 points lower at 1,766.59.
However, sentiment on the broader market was positive as gainers outpaced losers 135 to 115 with 168 counters unchanged, 1,421 untraded and 62 others were suspended.
The weak performance was partly due to the negative sentiment among investors in the aftermath of the tropical storm 'Harvey' towards the US economy.
A dealer also said the fact that European Central Banks President Mario Draghi and US Federal Reserve Chair Janet Yellen failed to give any direction on monetary stimulus.
The Fed was more focused on financial stability rather than to address monetary policies, he pointed out.
Among heavyweights, Maybank reduced three sen to RM9.53, Tenaga erased two sen to RM14.28, but PBBank added four sen to RM20.62 and Sime increased six sen to RM9.19.
Among actives, Palette and its warrant, were up half-a-sen to 15 sen and 12 sen, respectively, M3Tech slipped half-a-sen to 9.5 sen while Vizione and FrontKN were flat at 13 sen and 36 sen, respectively.
The FBM Emas Index fell 13.35 points to 12,594.65 and the FBMT 100 Index eased 12.93 points to 12,253.26 and the FBM Emas Shariah Index lost 6.55 points to 12,790.96.
The FBM Ace increased 43.60 points to 6,710.17 and the FBM 70 was 0.22 of-a-point higher at 15,086.85.
Sector-wise, the Industrial Index went up 0.94 of-a-point to 3,218.70 while the Plantation Index erased 24.72 points to 7,836.32 and the Finance Index eased 28.56 points to 16,664.63.

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Saturday, 26 August 2017

Major currencies, the #Ringgit closes higher.


Malaysia: The ringgit closed higher against the US dollar and other major currencies today on continued demand and in tandem with improved global oil prices and emerging-market currencies.

At 6pm, the local unit was quoted at 4.2710/2740 against the greenback, from Thursday's 4.2780/2810.

OANDA Senior Market Analyst Jeffrey Halley said the ringgit strengthened as investors are closely monitoring the annual Jackson Hole Economic Policy symposium in the United States today.

"With the ringgit continuing its rally against the US dollar along with other emerging market currencies, we expect the greenback's weaknesses to linger into next week," said Halley.

In addition, the benchmark Brent crude traded 0.63 per cent higher at US$52.37 per barrel.

Against other major currencies, the ringgit rose against the yen to 3.8980/8011 from 3.9111/9142 on Thursday, and strengthened versus the Singapore dollar to 3.1397/1426 from 3.1419/1453 yesterday. It improved against the euro to 5.0411/0455 from 5.0438/0482 on Thursday, and appreciated against the British pound to 5.4801/4844 from yesterday's 5.4861/4904.

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Friday, 25 August 2017

#Ringgit traded higher against a basket of other major currencies.


Malaysia: The ringgit opened higher against the US dollar today on strong demand, in line with its regional peers.
At 9am, the local unit was quoted at 4.2735/2775 against the greenback, from Thursday's close of 4.2780/2810.
A dealer said emerging markets' currencies have strengthened against the US dollar as investors shied away after US President Donald Trump threatened to shut down the government and terminate the North American Free Trade Agreement (Nafta).
"Many investors also remain in a wait-and-see mode for US Federal Reserve Chair Janet Yellen's financial stability speech at the on-going Jackson Hole Economic Policy symposium," he added.
Meanwhile, higher crude oil prices also lent support to the ringgit's performance. The overnight benchmark Brent crude oil futures rose 0.6 per cent to US$52.36 per barrel due to the likelihood of an output cut by the Organisation of Petroleum Exporting Countries (OPEC), coupled with a potential hurricane hit on the Texas coast, a major oil field in the US.
The ringgit also traded higher against a basket of other major currencies.
It rose against the yen to 3.8949/9003 from Thursday's close of 3.9111/9142, and strengthened against the pound to 5.4714/4769 from 5.4861/4904 yesterday. Vis-a-vis the Singapore dollar, the local unit advanced to 3.1379/1424 from 3.1419/1453 previously, and grew against the euro to 5.0406/0462 from 5.0438/0482 on Thursday.

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Thursday, 24 August 2017

'Feel good factors' has increased Malaysian economy. #Ringgit opens high!


Malaysia: The ringgit opened higher against the US dollar today on improved investor sentiment towards the local unit due to recent good news on higher foreign reserves and a better-than-expected economic growth report.
At 9am, the ringgit was quoted at 4.2750/2800 versus the greenback from 4.2780/2800 on Wednesday.
A dealer said US President Donald Trump's remarks on terminating the North American Free Trade Agreement (Nafta) had also dragged down the US dollar.
On the local front, higher foreign reserves of US$100.40 billion as at Aug 15 and the recent surprising second-quarter gross domestic product growth data had lifted investors' confidence in the country.
"The 'feel good factors' have increased demand for the local currency," the dealer added.
However, the local note was traded mostly lower against a basket of other major currencies.
It fell against the Singapore dollar to 3.1404/1459 from Wednesday's close of 3.1380/1411, eased against the yen to 3.9152/9209 from 3.9126/9148 yesterday, and weakened against the euro to 5.0475/0551 from 5.0391/0418 on Wednesday.
Vis-a-vis the pound, the ringgit advanced to 5.4682/4750 from 5.4750/4784 previously.
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Wednesday, 23 August 2017

BNM Reserves position' finance 7.9 months of retained imports and is 1.1 times the short-term external debt


Malaysia – Bank Negara Malaysia's (BNM) international reserves amounted to US$100.4 billion (RM431.0 billion) as at Aug 15, 2017, compared with US$99.4 billion (RM427 billion) registered as at July 31, 2017.
"The reserves position is sufficient to finance 7.9 months of retained imports and is 1.1 times the short-term external debt," said BNM in a statement today.
The main components of the international reserves were foreign currency reserves (US$93.9 billion), International Monetary Fund reserves position (US$0.8 billion), Special Drawing Rights (SDRs) (US$1.2 billion), gold (US$1.5 billion) and other reserve assets (US$3.0 billion).
The assets included gold and foreign exchange and other reserves, including SDRs (RM431.021 billion), Malaysian government papers (RM5.355 billion), deposits with financial institutions (RM3.434 billion), loans and advances (RM7.829 billion), land and buildings (RM2.113 billion) and other assets (RM7.297 billion).

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