Sunday January 25, 2009 MYT 7:08:00 PM
by Karamjit Kaur
PUBLISHED BY ‘THE STAR’ (Malaysia)
Archive for the ‘MALAYSIA’ Category
BELEAGUERED SIA CUTS FOUR SINGLE-CLASS FLIGHTS (Malaysia)
Posted by Gilmour Poincaree on January 25, 2009
Posted in AIR TRANSPORT INDUSTRY, COMMODITIES MARKET, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MALAYSIA, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS | Leave a Comment »
GLOBAL BANKING CRISIS PUTS A DAMPER ON KLCI (Malaysia)
Posted by Gilmour Poincaree on January 21, 2009
Wednesday January 21, 2009
by Leong Huleong Yee
PUBLISHED BY ‘THE STAR’ (Malaysia)
Posted in BANKING SYSTEMS, CHINA, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, FORMOSA - TAIWAN, HONG KONG, INTERNATIONAL, JAPAN, MALAYSIA, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, SCOTLAND, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »
UMW PLANS RM600M CAPEX (Malaysia)
Posted by Gilmour Poincaree on January 21, 2009
Wednesday January 21, 2009
by Elaine Ang
PUBLISHED BY ‘THE STAR’ (Malaysia)
Posted in BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MALAYSIA, PETROL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »
WILL THERE BE A NEW WORLD FINANCIAL ORDER? (Malaysia)
Posted by Gilmour Poincaree on January 21, 2009
Wednesday January 21, 2009
The Real Matter With Pankaj Kumar – The Star
PUBLISHED BY ‘THE STAR’ (Malaysia)
Posted in BANKING SYSTEMS, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INTERNATIONAL, MALAYSIA, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR | Leave a Comment »
PUBLIC BANK POSTS RECORD NET PROFIT (Malaysia)
Posted by Gilmour Poincaree on January 21, 2009
Wednesday January 21, 2009
The Star
PUBLISHED BY ‘THE STAR’ (Malaysia)
Posted in BANKING SYSTEMS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INTERNATIONAL, MALAYSIA, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »
GROUPS TO ASSESS THE PERFORMANCE OF ISLAMIC FINANCIAL SYSTEM (Malaysia)
Posted by Gilmour Poincaree on January 21, 2009
Wednesday January 21, 2009
The Star
PUBLISHED BY ‘THE STAR’ (Malaysia)
Posted in BANKING SYSTEMS, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INTERNATIONAL ECONOMIC ORGANIZATIONS AND FORUMS, ISLAMIC BANKS, MALAYSIA, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »
BANK NEGARA CUTS OVERNIGHT POLICY RATES BY 75 BASIS POINTS (Malaysia)
Posted by Gilmour Poincaree on January 21, 2009
Wednesday January 21, 2009 MYT 6:22:00 PM
The Star
PUBLISHED BY ‘THE STAR’ (Malaysia)
Posted in BANKING SYSTEMS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INTERNATIONAL, MALAYSIA, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS | Leave a Comment »
MUSTAPHA KAMAL-RELATED COMPANY BUYS LAND FROM MK FOR RM150M (Malaysia)
Posted by Gilmour Poincaree on January 21, 2009
Wednesday January 21, 2009 MYT 8:53:00 AM
Thje Star
PUBLISHED BY ‘THE STAR’ (Malaysia)
Posted in BANKING SYSTEMS, COMMERCE, CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIES, INTERNATIONAL, MALAYSIA, REAL ESTATE INDUSTRIES, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »
PRICE OF SUGAR MIGHT GO UP: SHAHRIR (Malaysia)
Posted by Gilmour Poincaree on January 21, 2009
Tuesday January 20, 2009 MYT 7:18:00 PM
by Zulkifly Mohamad
PUBLISHED BY ‘THE STAR’ (Malaysia)
Posted in AGRICULTURE, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FOOD PRODUCTION (human), INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MALAYSIA, RECESSION, SUGAR | Leave a Comment »
OILEX CALLS OFF ACQUISITION OF ADDITIONAL STAKE IN WEST KAMPAR PSC – OILEX (WEST KAMPAR) HAS ELECTED TO TERMINATE THE AGREEMENT TO ACQUIRE AN ADDITIONAL 15% PARTICIPATING INTEREST IN THE WEST KAMPAR PRODUCTION SHARING CONTRACT ONSHORE SUMATRA, INDONESIA FROM PT SUMATERA PERSADA ENERGI (SPE) (Malaysia)
Posted by Gilmour Poincaree on January 11, 2009
Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MALAYSIA, PETROL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »
AEON’S STRATEGY TO FACE SLOWDOWN (Malaysia)
Posted by Gilmour Poincaree on January 7, 2009
Wednesday January 7, 2009
by Shannen Wong
PUBLISHED BY ‘THE STAR'(Malaysia)
Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, HEALTH CARE, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MALAYSIA, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »
TOP GLOVE PROFIT RISES ON EXPANSION (Malaysia)
Posted by Gilmour Poincaree on January 7, 2009
Wednesday January 7, 2009
The Star
PUBLISHED BY ‘THE STAR'(Malaysia)
Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, GARMENT INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MALAYSIA, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »
WCT STANDS TO LOSE RM1.3BIL FROM CANCELLATION OF CONTRACT (Malaysia)
Posted by Gilmour Poincaree on January 7, 2009
Wednesday January 7, 2009
by Fintan Ng and K. C. Law
PUBLISHED BY ‘THE STAR'(Malaysia)
Posted in CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JUDICIARY SYSTEMS, MALAYSIA, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »
TRICKED INTO LOSING MONEY AT PETROL STATION – POLICE REPORT 000065/09 – Hulu Langat, Selangor
Posted by Gilmour Poincaree on January 7, 2009
Wednesday January 7, 2009
The Star
PUBLISHED BY ‘THE STAR'(Malaysia)
Posted in CRIMINAL ACTIVITIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FRAUD, INTERNATIONAL, MALAYSIA, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY | Leave a Comment »
GLOBAL TRENDS DRIVE ‘LAND GRAB’ – ACTIVISTS
Posted by Gilmour Poincaree on January 5, 2009
Monday, January 05, 2009
Agence France-Presse
PUBLISHED BY ‘THE MANILA TIMES’ (Philippines)
Posted in AGRICULTURE, CRIMINAL ACTIVITIES, ECONOMIC CONJUNCTURE, ECONOMY, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOOD INDUSTRIES, FOREIGN POLICIES, INTERNATIONAL, INTERNATIONAL RELATIONS, MACROECONOMY, MALAYSIA, PHILIPPINES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, SOUTH KOREA, THE FLOW OF INVESTMENTS, THE UNITED NATIONS, VIETNAM | Leave a Comment »
SOMALIA, THAILAND, & SAUDI AMONG DFA FLASH POINTS IN 2008 – The year 2008 has been a challenging one for the Department of Foreign Affairs (DFA) as it saw a series of pirate attacks on merchant ships in Somalia, the repatriation of stranded Filipinos in Thailand, the beheading of a Filipino worker in Saudi Arabia, and the mass deportation of Filipinos in Malaysia
Posted by Gilmour Poincaree on January 3, 2009
Saturday, January 3, 2009
by Charissa M. Luci
PUBLISHED BY ‘THE MANILA BULLETIN’ (Philippines)
Posted in CARGO PIRACY, CRIMINAL ACTIVITIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, HUMAN RIGHTS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, JUDICIARY SYSTEMS, MALAYSIA, MIGRATION AND IMMIGRATION, PHILIPPINES, RECESSION, SAUDI ARABIA, SOMALIA, THAILAND, THE UNITED NATIONS, THE WORK MARKET, THE WORKERS, THE WORKING ENVIRONMENT | Leave a Comment »
CLASSIC CAFÉS
Posted by Gilmour Poincaree on January 3, 2009
Saturday January 3, 2009
Story and photos by Graham Simmons
PUBLISHED BY ‘THE STAR’ (Malaysia)
Posted in AGRICULTURE, COFFEE, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FOOD INDUSTRIES, FOOD PRODUCTION (human), INDUSTRIES, INTERNATIONAL, MALAYSIA, RECESSION | Leave a Comment »
OIL AND GAS BUSINESS POISED TO BECOME CHANGHUAT MAINSTAY (Malaysia)
Posted by Gilmour Poincaree on January 2, 2009
Friday January 2, 2009
by Zazali Musa
PUBLISHED BY ‘THE STAR’ (Malaysia)
Posted in COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, MALAYSIA, NATURAL GAS, PETROL, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »
CRANE RENTAL RATES LOWERED TO GIVE CONSTRUCTION INDUSTRY A LIFT (Malaysia)
Posted by Gilmour Poincaree on January 2, 2009
Friday January 2, 2009
by K.C Law
PUBLISHED BY ‘THE STAR’ (Malaysia)
Posted in CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FOREIGN WORK FORCE - LEGAL, INDUSTRIAL PRODUCTION, INDUSTRIAL SUBSIDIES, INDUSTRIES, INTERNATIONAL, MALAYSIA, NATIONAL WORK FORCES, RECESSION, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS | Leave a Comment »
JAPANESE AFFILIATES BEARISH ON PROFITS
Posted by Gilmour Poincaree on December 29, 2008
01:02:00 12/30/2008
by Ronnel Domingo – The Philippine Daily Inquirer
PUBLISHED BY ‘THE PHILIPPINE DAILY INQUIRER’
Posted in AUTOMOTIVE INDUSTRY, COMMUNICATION INDUSTRIES, DIGITAL INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ELECTRIC / ELECTRONIC INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDONESIA, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MALAYSIA, PHILIPPINES, SINGAPORE, THAILAND, THE FLOW OF INVESTMENTS, VIETNAM | Leave a Comment »
MALAYSIAN SATELLITE VS ILLEGAL LOGGING
Posted by Gilmour Poincaree on December 29, 2008
15:22:00 12/28/2008
Agence France-Presse
PUBLISHED BY ‘THE PHILIPPINE DAILY INQUIRER’
Posted in COMMERCE, ECONOMIC CONJUNCTURE, ECONOMY, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INTERNATIONAL, MALAYSIA, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY | Leave a Comment »
GOLDEN TICKET TO GLOBAL EXPORT ARENA (Malaysia)
Posted by Gilmour Poincaree on December 25, 2008
Thursday December 25, 2008
by Hanim Adnan – Assistant News Editor – The Star
PUBLISHED BY ‘THE STAR’ (Malaysia)
Posted in AGRICULTURE, COMMERCE, COMMERCIAL PROTECTIONISM, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENVIRONMENT, EUROPE, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, MALAYSIA, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, VEGETABLE OILS | 1 Comment »
TENAGA TO REDUCE CAPEX NEXT YEAR (Malaysia)
Posted by Gilmour Poincaree on December 12, 2008
2008/12/11
Bernama
PUBLISHED BY ‘THE NEW STRAIT TIMES’ (Malaysia)
TENAGA Nasional Bhd is reducing its capital expenditure (capex) next year on expectation of a downward trend in electricity demand, said its group chief executive officer, Datuk Seri Che Khalib Mohamad Noh.
“We expect electricity demand will not increase as what it was before, (thus) we have cut down some of the capex that we are supposed to do for 2009,” he told reporters after the company’s annual general meeting in Kuala Lumpur.
He said TNB has experienced an increase in demand (electricity) within the region of six to eight per cent every year but early part of this year saw the demand reduced to four per cent.
“We think it is going to be tough. We are worried that the total demand for the financial year 2009 may go down further,” he said.
But he noted that the the fall would not go as low as 10 per cent which was recorded during the 1997/98 financial crisis.
TNB is spending some RM5-RM6 billion every year in terms of capital expenditure.
Posted in COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MALAYSIA, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »
IRAN OIL OUTPUT OVER 4 MLN BPD
Posted by Gilmour Poincaree on December 10, 2008
Monday, December 6th, 2008
by Michel Rocard
PUBLISHED BY ‘THE ARAB TIMES’ (Kuwait)
TEHRAN, Dec 6, (RTRS): Iran is producing over 4 million barrels of crude per day (bpd), the head of the state oil firm was quoted as saying on Saturday, roughly 250,000 bpd more than an estimate provided by the country’s Opec governor. 
Iran’s representative to the Organisation of the Petroleum Exporting Countries, Mohammad Ali Khatibi, said on Thursday the Islamic Republic was pumping at around 3.8 million bpd and was complying fully with its share of the cartel’s oil supply cuts. But Seifollah Jashnsaz, managing director of the National Iranian Oil Company (NIOC), said in comments carried by the official IRNA news agency on Saturday: “In view of Opec’s production cut that went into effect at the beginning of November, Iran’s current crude oil production stands between 4,050,000-4,080,000 barrels per day.”
A Reuters survey earlier this week put Iran’s output in November at 3.9 million bpd, a higher figure than the one given by Khatibi but lower than the output cited by Jashnsaz. The reason for the different figures for the crude output of Iran, Opec’s second-largest producer, was not clear and officials were not immediately available for comment. In his Dec. 4 comments to Reuters, Khatibi said Iran had cut 199,000 bpd as required under Opec’s October agreement to reduce supply by 1.5 million bpd. He said Iran was pumping at around 4 million bpd before the October cut.
Khatibi’s comments on compliance were at odds with industry estimates that Iran has met little of its pledge to reduce supply. Opec, source of more than a third of the world’s oil, meets in Algeria later this month to discuss how to halt oil’s fall of more than $100 from its July peak of over $147 a barrel as a global financial crisis hit energy demand in consumer nations. Iran’s Oil Minister Gholamhossein Nozari said last Sunday that the oil market was oversupplied by around 2 million bpd. Opec ministers meeting in Cairo on Nov. 29 deferred a decision on a new oil supply cut amid signs that Saudi Arabia and its Gulf allies were demanding tighter adherence with previous restraints.
Flagged
Delegates in Cairo flagged Iran and Venezuela, who have both urged deeper Opec cuts, as sources of concern on quota compliance.
In Saturday’s IRNA report, Jashnsaz did not mention any figures about Iranian output cuts, but said Iran’s oil production capacity had reached 4.23 million bpd and expressed hope it would rise to 4.3 million by March next year.
Iran’s crude oil export revenue so far in the 2008-09 Iranian year stood at $61 billion, he said, adding its average exports during the year amounted to 2.35 million bpd.
He said output from the Darkhovin oil field, in Iran’s south-west, would increase by 60,000 bpd to 160,000 bpd by the end of the Iranian year that runs to March.
Echoing comments by another NIOC official this week, Jashnsaz said Iran would need around $160 billion for development projects within its oil and gas sector, saying it would have to rely on both domestic and foreign investment.
NIOC’s director of planning, Abdolmohammad Delparish, told a seminar on Thursday that Iran needs investment of that magnitude in the next five years in its oil and gas industry.
Iran is the world’s fourth largest oil producer, but despite sitting on the world’s second biggest gas reserves has yet to become a major gas exporter. Jashnsaz said gas output had risen this year by around 70 million cubic metres to 580 million.
Also:
KUALA LUMPUR: Malaysia’s state-owned oil company Petronas is not a partner in multi-billion dollar gas deals signed this week between a Malaysian company and the Iranian government, a top company official said on Wednesday.
“We are not aware of what it is all about; all I know is what I read in the media. I can confirm that it has nothing to do with Petronas,” Petronas chief executive officer Hassan Marican told reporters.
Iran’s state television reported on Tuesday that the country had signed gas deals worth $14 billion with Malaysia.
The deals involved a project to produce liquefied natural gas (LNG) and the development of two gas fields, state television said.
The ISNA news agency said the deals were signed on Monday with Malaysia’s SKS group, a private entity linked to Malaysian billionaire Syed Mokhtar Al-Bukhary.
It was not clear if the deals were related to an agreement signed in 2007, the news agency said.
SKS in December last year struck a $16 billion gas development contract with Iran, which boasts the world’s second largest gas reserves after Russia.
Under the 2007 deal, SKS will team up with the National Iranian Oil Company (NIOC) to develop the southern Golshan and Ferdows gas fields and build plants to produce LNG.
Separately, Hassan said Petronas has not yet finalised its investment in a LNG project in Iran.
“We have not finalised that, there is no further update on the LNG project,” said Hassan.
In July, Petronas said it could not come to a final decision on its investment in Iran’s Pars LNG project due to rising costs and because it had not finalised its discussion with the Iranians.
Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, IRAN, MALAYSIA, NUCLEAR ENERGY, OPEC, PETROL, RECESSION, RUSSIA, THE FLOW OF INVESTMENTS | Leave a Comment »
MALAYSIA INVESTS $14B IN IRAN ENERGY
Posted by Gilmour Poincaree on December 3, 2008
Thu, Dec 04, 2008
PUBLISHED BY ‘THE IRAN NEWS DAILY’
TEHRAN — Malaysia is investing up to 14 billion dollars in development of Golshan and Ferdosi fields as well as a liquefied 
natural gas project, Minister of Oil Gholam-Hussein Nozari has said.
He added that meanwhile since 60-70% of the project’s value is finalized based on the price of goods; following the finalization of tender bids the final value of contract is specified.
“Iran and Malaysia have formed strategic relations and the two countries’ economic ties have been appropriate, to date. Meanwhile, with the conclusion of three cooperation deals and two memoranda of understanding, these economic ties will be reinforced and boosted more than ever.”
Meanwhile, in a meeting with the Iranian minister of oil, the former Malaysian premier Mahathir Mohammad, for his part, said that the two countries have reached agreements over development of a refinery in Malaysia with the capacity of 250,000 barrels; export of 120,000 barrels of CNG to Malaysia; development of a natural gas field in Iran; joint construction of refineries in Syria and Indonesia; and a number of other projects.
Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, GASOLINE, INDONESIA, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, IRAN, MALAYSIA, PETROL, REFINERIES - PETROL/BIOFUELS, SYRIA, THE FLOW OF INVESTMENTS | Leave a Comment »
OILS, OILSEEDS SLIP FURTHER ON NEGATIVE OVERSEAS ADVICES – Grains and non-ferrous metals presented mixed signals (India)
Posted by Gilmour Poincaree on November 17, 2008
16 Nov 2008, 0143 hrs IST, AGENCIES
NEW DELHI: The Delhi oil and oilseeds market remained depressive past week following discouraging 
overseas advices coupled with increased arrivals from producing centres. With the CPO (crude palm oil) in Malaysia down by $ 25 to $ 450 per tonne and Chicago soya oil futures tumbling to around 250 cent this led to nervous selling by stockists easing prices of all major edible oil on the Delhi wholesale market.
According to marketmen, increased arrivals of soya seed at crushing units also had a deep impact on edible oil prices. Soya seed which was quoting at Rs 1550/1600 per quintal in producing centres fell to Rs 1480/1500 per quintal.
Prices in Ratlam and Neemuch were seen quoting even lower at Rs 1375/1400 per quintal leading to sharp fall in soya oil prices. With soya oil in Indore down by Rs 350 to Rs 4000 per quintal its prices in Delhi also declined from Rs 4800 to Rs 4500 per quintal following heavy selling by stockists.
Cottonseed oil slumped to a low of Rs 4050, losing Rs 250 per quintal tracking the weak trend prevailing in Punjab where cottonseed oil prices came crashing down to Rs 3900 per quintal.
Sesame oil was also hit by selling pressure with prices easing by Rs 100 to Rs 4250 per quintal even as sesame seed held strong. Mustard seed slipped by Rs 25/50 to Rs 2900/3100 per quintal on weak demand.
GRAINS & PULSES
The Delhi wholesale grains and pulses market ruled mixed past week on the back of mixed signals from upcountry market centres. Tight inventory in roller flour mills appreciated mill-quality wheat Rs 56/58 to Rs 1150/1156 per quintal following spurt in demand.
Atta (wheat flour) was also quoting upward by Rs 30/35 at Rs 620/625 per 50 kg on heavy buying by local stockists and retailers. Wheat bran firmed by Rs 20 at Rs 430/450 per 50 kg on increased offtake by upcontry centres.
Fine rice 1121 average quality held steady at Rs 5900/6000 per quintal, while rice steam was quoting at Rs 6500/7000 per quintal end week. According to marketmen, sustained arrivals of fine paddy at mills in Haryana eased Paddy grade 1121 from Rs 3000/3100 to Rs 2800/2900 per quintal.
NON-FERROUS METALS
The Delhi non-ferrous metals market observed mixed trends past week. While Nickel and Tin closed firm in tune with the LME (London Metal Exchange) trend copper, brass and aluminium incurred losses. Nickel Russian Plate spurted by Rs 20 to Rs 765/775 per kg on hectic buying by stockists and speculators as nickel on LME rose from $ 11550 to $ 11578 per tonne.
Inco nickel was also quoting upward by Rs 10 at Rs 865 per kg. Lead desi soft and hard edged up by Re 1 to Rs 86.50 and Rs 85/89 per kg following firm LME lead which moved up by $ 40 to $ 1332 per tonne. Brass parts, huny scrap and sheet tumbled by Rs 7/8 to Rs 183, 186 and Rs 184 per kg respectively amid increased arrivals from Pune and Hyderabad.
Posted in AGRICULTURE, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, GRAINS, INDIA, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MALAYSIA, METALS, RICE, WHEAT | Leave a Comment »
OWNERSHIP RULES TO EASE (Malaysia)
Posted by Gilmour Poincaree on November 13, 2008
Nov 13, 2008
KUALA LUMPUR – MALAYSIA is set to ease ownership rules that are the cornerstone of its decades-old, 
race-based economic policy favouring ethnic Malays so that companies can raise more money on the stock market.
The move, announced by Mr Najib Razak, the country’s prime minister in waiting, comes during a global economic slowdown and after Malaysia’s main stock market fell almost 40 per cent this year, dampening investors’ appetite for shares.
It also inches government policy closer to that of the more economically liberal opposition that wants the whole panoply of race-based education, housing, employment and company ownership rules to be abolished.
‘It is a relatively bold move coming from him (Najib),’ said Tricia Yeoh at the Centre for Public Policy Studies.
‘I think he is a pragmatic man who delivers on things needed for (economic) efficiency.’
Mr Najib said non-Malays would be able to buy shares not subscribed to by ethnic Malays in a move political and economic analysts said showed he was ready to take tough decisions to boost the economy and rebuild the ailing ruling coalition.
The issue is very sensitive in a Southeast Asian country of 27 million people where 60 per cent of the population is ethnic Malay and there are also substantial ethnic Chinese and Indian minorities.
Malaysia’s entire political system is based on race. The main ruling party, the United Malays National Organisation (Umno), represents the interests of the majority but needs the support of ethnic Chinese and Indian parties to remain in power.
Those smaller parties were hammered in elections in March when the governing Barisan Nasional coalition lost its two-thirds parliamentary majority for the first time since Malaysia became independent 51 years ago.
‘Najib aims to bring back non-Malay voters,’ said Manokaran Mottain, economist at Aminvestment Bank.
Recent calls from the second biggest party in the Barisan Nasional coalition, the Malaysian Chinese Association, for the ownership rules to be relaxed were denounced by top Umno politicians as ‘playing up racial and religious sentiments’.
‘This (Najib’s move) is positive for the market in the long term, as obviously the rule shouldn’t have been there in the first place, but it was,’ said Kelvin Miranda, a Singapore-based fund manager with Blufire Asset Management.
Last week, Mr Najib said he would remove restrictions on foreign investors owning 100 per cent of some service companies, another liberalising economic move.
Capital flight
More foreign investors might be encouraged to enter the stock market after the capital flight seen this year.
In the second quarter, following the March elections and as the global economic crisis deepened, 24 billion Malaysian ringgit (S$10.1 billion) was withdrawn by foreign investors from Malaysian stock, bond and money markets.
As well as rebuilding a coalition that stumbled to its worst-ever election result in March, Mr Najib will have to deal with a deepening economic malaise.
Investment bank RHB is forecasting Malaysia’s economic growth at just 1.5 per cent in 2009, far below the government’s projection of 3.5 per cent. If RHB’s projection turns out to be correct, that would be the slowest economic growth since 2001.
Malaysia’s position has slid in terms of its ability to attract foreign investment relative to its neighbours.
Foreigners invested a total of US$53.58 billion (S$81.18 billion) in the country in 2006, little changed from 2000, while investment in neighbouring Thailand has more than doubled to US$68 billion over the same time period, according to United Nations data.
REUTERS
Posted in ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INTERNATIONAL, MALAYSIA, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »
EARNINGS FROM POTASH EXPORTS SURGE TO JD301.4M (Jordan)
Posted by Gilmour Poincaree on October 31, 2008
31 October 2008
AMMAN (Petra) – Earnings from potash exports rose to JD301.4 million during the first eight months of this year, according to the website of the Central Bank of Jordan. Exports during the January–August period of last year amounted to JD148.2 million. Potash ranked second among the country’s exports, after garments. The increase in earnings were attributed to higher potash prices and a slight rise in exported quantities. India, Malaysia and China were the principal importers of Jordan’s potash as they accounted for two-thirds of the exports.
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