Magic Sponge
Before
After
Before
After
Tuesday, July 28, 2015
Magic Sponge
Amazing magic sponge, I bought this ordinary looking sponge in Mr. DIY, didn't expect the cleaning power is so superb. It clean up things easily.
Monday, July 27, 2015
Saturday, July 25, 2015
Gold Continues Sliding, Hits 5-Year Low
By MATTHEW COWLEY and BIMAN MUKHERJI
Updated July 20, 2015 4:18 p.m. ET
Gold prices fell to five-year lows on Monday, weighed down by the dollar’s relentless gains as the prospect of the first U.S. interest-rate increase in more than nine years loomed.
Gold for August delivery, the most actively traded contract, closed down 2.2% at $1,106.80 a troy ounce on the Comex division of the New York Mercantile Exchange, a level last seen in March 2010.
Silver prices sank to their lowest level since August 2009, and platinum closed below $1,000 a troy ounce for the first time in more than six years.
Gold and other precious metals fell prey to a renewed bout of selling in commodities markets last week after Federal Reserve Janet Yellen appeared to give her strongest signal yet that rates in the U.S. would start to rise, possibly later this year.
The move toward a more normal environment for interest rates would bring an end to the extraordinary period of low rates. Higher interest rates would make the dollar more attractive to investors looking for higher-yielding assets. Over the last 12 months, The Wall Street Journal’s U.S. Dollar Index has risen 22%, mostly in anticipation of a rate move by the Fed. The dollar’s gains are a burden for commodities, which are priced in the U.S. currency and become more expensive for overseas buyers when the dollar gains in value.
Financial markets have been adjusting for a return to normality for some time. As the U.S. economy started to gain traction, unemployment fell and inflation remained subdued, the possibility of an interest-rate increase became more apparent. That has led to the decline in the price of gold, which tends to be seen as a haven asset.
“The most important dynamics that have contributed to the drop in gold prices are a stronger U.S. dollar, improving investor sentiment in financial markets, and expectations that the U.S. Federal Reserve will start hiking interest rates this year,” said Georgette Boele, coordinator of foreign exchange and precious metals strategy at ABN Amro.
Source from : The Wall Street Journal
Updated July 20, 2015 4:18 p.m. ET
Gold prices fell to five-year lows on Monday, weighed down by the dollar’s relentless gains as the prospect of the first U.S. interest-rate increase in more than nine years loomed.
Gold for August delivery, the most actively traded contract, closed down 2.2% at $1,106.80 a troy ounce on the Comex division of the New York Mercantile Exchange, a level last seen in March 2010.
Silver prices sank to their lowest level since August 2009, and platinum closed below $1,000 a troy ounce for the first time in more than six years.
Gold and other precious metals fell prey to a renewed bout of selling in commodities markets last week after Federal Reserve Janet Yellen appeared to give her strongest signal yet that rates in the U.S. would start to rise, possibly later this year.
The move toward a more normal environment for interest rates would bring an end to the extraordinary period of low rates. Higher interest rates would make the dollar more attractive to investors looking for higher-yielding assets. Over the last 12 months, The Wall Street Journal’s U.S. Dollar Index has risen 22%, mostly in anticipation of a rate move by the Fed. The dollar’s gains are a burden for commodities, which are priced in the U.S. currency and become more expensive for overseas buyers when the dollar gains in value.
Financial markets have been adjusting for a return to normality for some time. As the U.S. economy started to gain traction, unemployment fell and inflation remained subdued, the possibility of an interest-rate increase became more apparent. That has led to the decline in the price of gold, which tends to be seen as a haven asset.
“The most important dynamics that have contributed to the drop in gold prices are a stronger U.S. dollar, improving investor sentiment in financial markets, and expectations that the U.S. Federal Reserve will start hiking interest rates this year,” said Georgette Boele, coordinator of foreign exchange and precious metals strategy at ABN Amro.
Source from : The Wall Street Journal
Monday, July 20, 2015
伊朗经济制裁全面解除 大马油价料降10%
二零一五年七月十九日 晚上十一时二十二分
（槟城19日讯）随着国际多年来对伊朗的经济制裁全面解除，伊朗已能重新出口石油，预料全球油价将进一步下跌，而专家预料马来西亚燃油价格将调降5%至10%。
温伟杰：若马币续贬 油价调降不多
大马燃油价格目前是RON95每公升2令吉15仙，RON97则是2令吉55仙。如果调降10%，
RON95和RON97的价格将调整至1令吉95仙及2令吉30仙左右。
经济学者温伟杰接受《光华日报》访问时指出：“不过如果马币兑美元进一步贬值，则国内燃油价格可能不会调低那么多，因为我国燃油都是以美元结算的进口品。”
美国日前与伊朗宣布就“核项目谈判”达成协议。
这也意味着，多年来对伊朗的经济制裁全面解除，包括伊朗的石油产品可重新出口石油，预期将造成全球油价下跌。
伊朗核协议签订除了影响全球关系外，市场最关心的还是油价的波动，因为伊朗是OPEC第五大原油生产国，伊朗预估有成千上万桶库存油等着出售，将对已经饱和的市场产生冲击，让油价相对下跌。此外，伊朗还会开始大量生产石油。
Source from : 光华日报
（槟城19日讯）随着国际多年来对伊朗的经济制裁全面解除，伊朗已能重新出口石油，预料全球油价将进一步下跌，而专家预料马来西亚燃油价格将调降5%至10%。
温伟杰：若马币续贬 油价调降不多
大马燃油价格目前是RON95每公升2令吉15仙，RON97则是2令吉55仙。如果调降10%，
RON95和RON97的价格将调整至1令吉95仙及2令吉30仙左右。
经济学者温伟杰接受《光华日报》访问时指出：“不过如果马币兑美元进一步贬值，则国内燃油价格可能不会调低那么多，因为我国燃油都是以美元结算的进口品。”
美国日前与伊朗宣布就“核项目谈判”达成协议。
这也意味着，多年来对伊朗的经济制裁全面解除，包括伊朗的石油产品可重新出口石油，预期将造成全球油价下跌。
伊朗核协议签订除了影响全球关系外，市场最关心的还是油价的波动，因为伊朗是OPEC第五大原油生产国，伊朗预估有成千上万桶库存油等着出售，将对已经饱和的市场产生冲击，让油价相对下跌。此外，伊朗还会开始大量生产石油。
Source from : 光华日报
Wednesday, July 15, 2015
Prices of all goods have gone up since GST, says think tank
Published: 9 July 2015 8:28 AM
Despite Putrajaya's claim that the prices of eight out of 12 categories of goods in the Consumer Price Index (CPI) would decrease after the implementation of the goods and services tax (GST), the prices of all categories have in fact increased, Institut Rakyat said today.
In its analysis of the first 100 days since the GST took effect, the PKR-powered think tank said however that the overall impact of the price increases was offset by the drop in oil prices since the end of last year.
"Thus, while low oil prices have battered Malaysian government revenue and the value of the ringgit, they have effectively spared consumers from a more severe impact following the introduction of GST.
"They have also spared Prime Minister (Datuk Seri) Najib Razak from greater public anger by softening price increases," said Institut Rakyat executive director Yin Shao Loong in a statement today.
According to data obtained from the Department of Statistics, for those earning below RM3,000 per month, inflation was slightly higher than the overall national inflation at 1.0%.
"Inflation patterns in May continued to follow pre-GST patterns for most goods, suggesting that price hikes were 'one off'," Yin said.
"However, given that an undisclosed number of businesses have chosen to temporarily absorb GST for their customers, we can expect a further inflationary bump in the third and fourth quarter of 2015 when they relax their policy."
Besides that, there is expected to be lower growth in domestic demand over the next six months compared to the first half of the year following gloomy economic conditions including the falling ringgit and China’s growing market turmoil.
"With the government now expecting to more than double its GST takings in 2015 to RM50 billion, up from an initial estimate of RM23.2 billion, the greater financial outflow from the private sector may further dampen domestic demand."
Yin said this was because consumers would not receive an increase in their wages that could compensate for the GST anytime soon.
He also said that despite its local unpopularity, the implementation of the GST had been lauded by the World Bank, the International Monetary Fund and the Fitch Ratings Agency.
"These entities have been concerned about the Malaysian government’s revenue base and ability to service its loans, namely Malaysia’s dependency on oil revenues and small income tax base."
The think tank said Prime Minister Datuk Seri Najib Razak and his administration had committed to achieving a "balanced budget" by slashing subsidies and raising government revenue through the GST to bring the budget deficit to zero by 2020.
"The IMF recommends placing the bulk of the burden of financing Najib’s austerity programme on the GST, which means that Malaysian consumers will ultimately foot most of the bill while subsidies evaporate.
"It also means that those consumers who aren’t receiving direct assistance from government – the middle class – will feel greater financial pressure, especially if the government follows the IMF’s suggestion to raise GST above its initial rate of 6%," Yin said.
He also warned that the implementation of the GST in pursuit of a zero deficit could fuel economic dependence on private debt, which could then lead to a financial crisis.
"Household debt in Malaysia is already one of the highest among developing economies at 87.9% of GDP in 2014, and exceeds US household leverage levels according to the McKinsey Global Institute," Yin said.
"Public debt, much maligned, is offset by the central bank’s ability to create money. Households do not have this power and will have to dig into their incomes or savings to pay back debt, lest they default.
"Spent wisely, public debt can generate productive growth that can more than compensate for debt servicing.
"Pursuing the IMF’s prescription of fiscal austerity may back us into a policy corner where we are denied the flexibility offered by public debt tools and forced into dependency on private debt, which carries the risk of financial crisis."
The GST came into effect on April 1, 2015 despite objections, street rallies and calls to scrap the plan, including from former prime minister Tun Dr Mahathir Mohamad.
However, economists and tax experts have warned that a government backtrack on the GST would spell disaster for the nation’s already ailing economy.
Experts say the implementation of GST is long overdue – only two million out of a population of 28 million currently pay income tax – and the increased federal revenue will help to ease growing government debt. – July 9, 2015.
Source from : The Malaysia Insider
Thursday, July 9, 2015
Wednesday, July 8, 2015
My Poster Color Drawings
My hobby is drawing, drawing helps to relax my mind and calm down my feeling.
Here are some of my drawings :)
Here are some of my drawings :)
Press Digest : Eurozone Instability Will Impact Malaysia's Export Sector
Posted on 7 July 2015 - 06:13pm
Last updated on 7 July 2015 - 06:51pm
Kong See Hoh
PETALING JAYA: An economist says economic instability in the Eurozone will have an impact on Malaysia, particularly its export sector.
Great Vision Advisory Group executive director-cum-head of tax and financial planning Datuk Chua Tia Guan said the government should take the Greek debt crisis as a lesson and reduce the size of its civil service to cut back on government expenditures, Sin Chew Daily reported today.
Noting that Malaysia is a net exporter, he said should Greece exit the European Union (EU) and bring about a Eurozone slowdown, Malaysia's export to EU will be affected.
Chua said being a relatively small economy, Malaysia is vulnerable to negative spillovers from the global economy.
Given this scenario, any negative sentiments, including in the local political arena, will deal a further blow to the already weakened ringgit.
He said based on EU official statistics, Malaysia's export to EU amounted to €19.7 billion for 2014 compared with €14 billion in import from the community, giving Malaysia a surplus of €5.7 billion in their two-way trade.
However, the surplus so far this year has shrunk compared with the same period last year and there is the danger that a trade deficit may result by 2017 if the current trend continues, he said.
As such, he added, a further slowdown in the Eurozone economy is bad news for Malaysia.
"Our economy is tied to export. If our export continues to shrink, the ringgit will be further affected," he said.
Source from : TheSunDaily
Last updated on 7 July 2015 - 06:51pm
Kong See Hoh
PETALING JAYA: An economist says economic instability in the Eurozone will have an impact on Malaysia, particularly its export sector.
Great Vision Advisory Group executive director-cum-head of tax and financial planning Datuk Chua Tia Guan said the government should take the Greek debt crisis as a lesson and reduce the size of its civil service to cut back on government expenditures, Sin Chew Daily reported today.
Noting that Malaysia is a net exporter, he said should Greece exit the European Union (EU) and bring about a Eurozone slowdown, Malaysia's export to EU will be affected.
Chua said being a relatively small economy, Malaysia is vulnerable to negative spillovers from the global economy.
Given this scenario, any negative sentiments, including in the local political arena, will deal a further blow to the already weakened ringgit.
He said based on EU official statistics, Malaysia's export to EU amounted to €19.7 billion for 2014 compared with €14 billion in import from the community, giving Malaysia a surplus of €5.7 billion in their two-way trade.
However, the surplus so far this year has shrunk compared with the same period last year and there is the danger that a trade deficit may result by 2017 if the current trend continues, he said.
As such, he added, a further slowdown in the Eurozone economy is bad news for Malaysia.
"Our economy is tied to export. If our export continues to shrink, the ringgit will be further affected," he said.
Source from : TheSunDaily
Sunday, July 5, 2015
Thursday, July 2, 2015
Dividends Payment Month For My Stocks
January ---------- Cbip
February --------- Scientx
March ------------ Bstead, Bplant, Padini, Coastal, Hua yang
April -------------- Fiamma
May --------------- Carlsberg, Mbsb
June --------------- Bstead, Bplant, Padini, Pie, Apm
July ---------------- Cbip, Aeoncr
August ------------ Scientx
September -------- Bstead, Bplant, Padini, Coastal, Apm, Favco
October ----------- Carlsberg, Aeoncr, Hua yang
November -------- Mbsb
December -------- Bstead, Bplant, Padini
February --------- Scientx
March ------------ Bstead, Bplant, Padini, Coastal, Hua yang
April -------------- Fiamma
May --------------- Carlsberg, Mbsb
June --------------- Bstead, Bplant, Padini, Pie, Apm
July ---------------- Cbip, Aeoncr
August ------------ Scientx
September -------- Bstead, Bplant, Padini, Coastal, Apm, Favco
October ----------- Carlsberg, Aeoncr, Hua yang
November -------- Mbsb
December -------- Bstead, Bplant, Padini
Wednesday, July 1, 2015
Fitch Ratings on Malaysia is finally out
Fitch Affirms Malaysia's LTFC rating at 'A-'; Outlook Revised to Stable
Fitch Ratings-Hong Kong-30 June 2015: Fitch Ratings has affirmed Malaysia's Long-Term foreign currency Issuer Default Rating (IDR) at 'A-' and local currency IDR at 'A'. The issue ratings on Malaysia's senior unsecured local currency bonds are also affirmed at 'A'. The Outlook on the Long-Term IDRs has been revised to Stable from Negative. The Country Ceiling is affirmed at 'A' and the Short-Term Foreign Currency IDR is also affirmed at 'F2'.
KEY RATING DRIVERS
The affirmation of Malaysia's IDRs and the revision of the Outlook to Stable reflects the following key rating drivers:
- Fiscal finances improving. Malaysia's fiscal finances have improved since last year with the general government deficit falling from 4.6% of GDP in 2013 to 3.8% of GDP in 2014 and general government debt/GDP declining from 54.7% at the end of 2013 to 53.9% at the end of 2014, as per Fitch estimates. Fitch views progress on the Goods and Services Tax (GST) and fuel subsidy reform as supportive of the fiscal finances. A further narrowing of the deficit is forecast in 2015 despite lower oil prices. Nevertheless, as against the 'A' median, Malaysia's fiscal position continues to remain weak. General government debt as a share of GDP at the end of 2014 was 53.9%, which is still above the 'A' median of 47.2%.
- Weaker external liquidity but still above 'A' median. Malaysia's external liquidity position has weakened, with reserve coverage of short-term external debt falling to 1.1 times by the end of 2014, as against 1.3 times at the end of 2013. As per Fitch's broader external liquidity metric as well, Malaysia's liquidity ratio had weakened to 113.2% by the end of 2014, from 130.0% at the end of 2013. However, despite the deterioration, Malaysia's external liquidity ratio was above the 'A' median of 104.6% and it is expected to improve over the forecast period. The country remained a net external creditor at the end of 2014 as per Fitch estimates.
- Declining current account surplus. The current account surplus continues to decline and from an average of 15.6% of GDP from 2005-09, had fallen to 7.2% b/w 2010-14 (Fitch estimates). Fitch believes this fall is being driven by a decline in the savings rate and a pick up in investments that is partly driven by the Economic Transformation Programme. Nevertheless, the current account surplus of about 4% in 2014, was above the 'A' median of 1.7%. Current account surplus forecast for 2015 is 1.4% and 1.1% in 2016.
- Fiscal financing flexibility. The depth of Malaysia's local capital markets supports the sovereign's domestic financing needs. While the share of non-resident holdings of government securities is high and a weakness in the sovereign's debt profile, local agencies such as Employee Provident Fund (EPF) can provide funding to support to the sovereign in the event of a sell-off by non-residents.
- Rising contingent liabilities. Federal government debt and explicit guarantees continue to increase. Total federal government explicit guarantees at the end of 2014 rose to 16% of GDP from 15.4% a year earlier. Fitch continues to believe that the Malaysian sovereign is incurring additional contingent liabilities beyond explicit guarantees because of quasi-fiscal operations of state-owned entity 1MDB. Fitch thinks there is a high probability that sovereign support for 1MDB would be forthcoming if needed.
- Malaysia's average income level (at market exchange rates), broader level of development, and World Bank governance indicators are weaker than 'A' category medians and closer to 'BBB' category norms. These structural features weigh on the credit profile.
- Favorable GDP growth rates. Malaysia's rating remains supported by reasonably strong real GDP growth rates and low inflation volatility. Malaysia's five-year real GDP growth averaged 5.8% over 2010-14, as against 3.1% for the 'A' median, whereas inflation volatility was 1.3% as against 1.7% for the 'A' median.
RATING SENSITIVITIES
The Stable Outlooks reflect Fitch's assessment that upside and downside risks to the ratings are currently broadly balanced.
The main factors that could, individually or collectively, lead to a negative rating action are:
- Fiscal slippage relative to the government's targets and lack of progress on structural budgetary reform.
- Problems for the banking sector potentially derived from a shock to interest rates or employment sufficient to impair the sovereign's debt service capacity.
- Deterioration in the balance of payments or investor sentiment that impairs the sovereign's external balance sheet.
The main factors that could, individually or collectively, lead to a positive rating action are:
- Greater confidence on the resilience and pace of deficit reduction and the government's commitment to contain public indebtedness.
- Sustained growth without the build-up of macro imbalances.
- Narrowing of structural weaknesses relative to peers including development indicators and governance.
KEY ASSUMPTIONS
- Global economic assumptions are consistent with Fitch's Global Economic Outlook
- No escalation of regional or geopolitical disputes to a level that disrupts trade and financial flows
Source from : Fitch Ratings
Fitch Ratings-Hong Kong-30 June 2015: Fitch Ratings has affirmed Malaysia's Long-Term foreign currency Issuer Default Rating (IDR) at 'A-' and local currency IDR at 'A'. The issue ratings on Malaysia's senior unsecured local currency bonds are also affirmed at 'A'. The Outlook on the Long-Term IDRs has been revised to Stable from Negative. The Country Ceiling is affirmed at 'A' and the Short-Term Foreign Currency IDR is also affirmed at 'F2'.
KEY RATING DRIVERS
The affirmation of Malaysia's IDRs and the revision of the Outlook to Stable reflects the following key rating drivers:
- Fiscal finances improving. Malaysia's fiscal finances have improved since last year with the general government deficit falling from 4.6% of GDP in 2013 to 3.8% of GDP in 2014 and general government debt/GDP declining from 54.7% at the end of 2013 to 53.9% at the end of 2014, as per Fitch estimates. Fitch views progress on the Goods and Services Tax (GST) and fuel subsidy reform as supportive of the fiscal finances. A further narrowing of the deficit is forecast in 2015 despite lower oil prices. Nevertheless, as against the 'A' median, Malaysia's fiscal position continues to remain weak. General government debt as a share of GDP at the end of 2014 was 53.9%, which is still above the 'A' median of 47.2%.
- Weaker external liquidity but still above 'A' median. Malaysia's external liquidity position has weakened, with reserve coverage of short-term external debt falling to 1.1 times by the end of 2014, as against 1.3 times at the end of 2013. As per Fitch's broader external liquidity metric as well, Malaysia's liquidity ratio had weakened to 113.2% by the end of 2014, from 130.0% at the end of 2013. However, despite the deterioration, Malaysia's external liquidity ratio was above the 'A' median of 104.6% and it is expected to improve over the forecast period. The country remained a net external creditor at the end of 2014 as per Fitch estimates.
- Declining current account surplus. The current account surplus continues to decline and from an average of 15.6% of GDP from 2005-09, had fallen to 7.2% b/w 2010-14 (Fitch estimates). Fitch believes this fall is being driven by a decline in the savings rate and a pick up in investments that is partly driven by the Economic Transformation Programme. Nevertheless, the current account surplus of about 4% in 2014, was above the 'A' median of 1.7%. Current account surplus forecast for 2015 is 1.4% and 1.1% in 2016.
- Fiscal financing flexibility. The depth of Malaysia's local capital markets supports the sovereign's domestic financing needs. While the share of non-resident holdings of government securities is high and a weakness in the sovereign's debt profile, local agencies such as Employee Provident Fund (EPF) can provide funding to support to the sovereign in the event of a sell-off by non-residents.
- Rising contingent liabilities. Federal government debt and explicit guarantees continue to increase. Total federal government explicit guarantees at the end of 2014 rose to 16% of GDP from 15.4% a year earlier. Fitch continues to believe that the Malaysian sovereign is incurring additional contingent liabilities beyond explicit guarantees because of quasi-fiscal operations of state-owned entity 1MDB. Fitch thinks there is a high probability that sovereign support for 1MDB would be forthcoming if needed.
- Malaysia's average income level (at market exchange rates), broader level of development, and World Bank governance indicators are weaker than 'A' category medians and closer to 'BBB' category norms. These structural features weigh on the credit profile.
- Favorable GDP growth rates. Malaysia's rating remains supported by reasonably strong real GDP growth rates and low inflation volatility. Malaysia's five-year real GDP growth averaged 5.8% over 2010-14, as against 3.1% for the 'A' median, whereas inflation volatility was 1.3% as against 1.7% for the 'A' median.
RATING SENSITIVITIES
The Stable Outlooks reflect Fitch's assessment that upside and downside risks to the ratings are currently broadly balanced.
The main factors that could, individually or collectively, lead to a negative rating action are:
- Fiscal slippage relative to the government's targets and lack of progress on structural budgetary reform.
- Problems for the banking sector potentially derived from a shock to interest rates or employment sufficient to impair the sovereign's debt service capacity.
- Deterioration in the balance of payments or investor sentiment that impairs the sovereign's external balance sheet.
The main factors that could, individually or collectively, lead to a positive rating action are:
- Greater confidence on the resilience and pace of deficit reduction and the government's commitment to contain public indebtedness.
- Sustained growth without the build-up of macro imbalances.
- Narrowing of structural weaknesses relative to peers including development indicators and governance.
KEY ASSUMPTIONS
- Global economic assumptions are consistent with Fitch's Global Economic Outlook
- No escalation of regional or geopolitical disputes to a level that disrupts trade and financial flows
Source from : Fitch Ratings
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