Author Topic: Bank Negara Reserve and BLR  (Read 17810 times)

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Bank Negara Reserve and BLR
« on: November 05, 2015, 07:41:55 PM »


OPR maintain
@ 3.25%

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Re: Bank Negara Reserve and BLR
« Reply #1 on: November 06, 2015, 07:55:07 AM »


DOWNSIDE RISK TO GROWTH

REMAINS HIGH

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Re: Bank Negara Reserve and BLR
« Reply #2 on: April 07, 2016, 06:15:31 PM »



Flash
Bank Negara foreign reserves up 0.94% at US$97b
By theedgemarkets.com / theedgemarkets.com   | April 7, 2016 : 6:02 PM MYT   
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FLASH: Bank Negara foreign reserves up 0.94% at US$97b

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Re: Bank Negara Reserve and BLR
« Reply #3 on: April 09, 2016, 07:08:52 AM »



八方论见  2016年04月08日 | 作者:邢月珍
洁蒂捍卫国行专业

以前,国家银行可以说是政治伸手不到的地方,是剩下的唯一净土,还可以独立自主。

是因为它是国行吗?因为它传统一向如是吗?

绝大部分原因是因为掌陀人是洁蒂,谁是洁蒂?一个专业、廉正、独立、冷静、有智慧、又勇敢的领袖,与她的风华绝代无关。

今年5月开始,它还会一如往昔吗?

洁蒂得名全球最佳国行总裁11次,绝对不是盖的,但得此荣誉,我们只看到她的专业,她的廉正、独立、冷静、智慧、和勇气,却在处理一马发展公司(1MDB)和委任国行接班人的事件中表露无遗,让我们眼前一亮,原来我国还有这样一等人物。

洁蒂虽不能对1MDB採取诉讼行动,但她最早完成国行的调查工作及建议採取的对付行动,不拖泥带水,公正坚决没有迟疑。

在报告被总检查署退回时,虽然无奈,还是再建议总检查署再检討,甚至下令1MDB必须把这批投资海外的资金调回来,不然就会採取行动。

她做了她应该做的事,说了该说的话,她最有智慧的是虽然不能公开內容,但她在有限的公开空间中做了最大的透露,让整个事件公诸于世,不让只手遮了天,落得哑子吃黄连,她不向压力低头和影响,做得漂亮利落。

放眼我国总检察长、全国警察总长、反贪会主席、公账会主席,甚至各位部长们,通通都被比下去了。这些人在这件事上做了什么呢?秉持什么样的態度?无奈?为难?迟疑?草草了事?在洁蒂面前通通都矮了一截,巾幗远胜鬚眉,其他人更感羞愧汗顏啊!

1MDB和26亿献金闹得举世皆知,曲折离奇,闻所未闻,岂能一无是错,就此放过?大家吃的是那一碗饭,大家都心照,会心捫嘴偷笑,这种得过且过的心態,能够给国家进步,给后人效仿吗?

洁蒂叫人见识到那种智慧和果敢,又何尝不是背后有廉正不阿,没有落人把柄的气节为底气呢?

洁蒂说了,在4月底卸任之前,一定会处理掉IMDB这潭「苏州屎」,功德圆满而去。即使是最后一刻,洁蒂都还在发力的为国家做好本分,让事情得到最公平的处理,让眾人得到真相。她这样做,固然如她所说的,把任期內的事处理好,不要留给下一任。如果接任的是国行內她的接班人,她不想他一上任就干上不討喜的事而得罪人,既然我已入地狱,就把它干净吧!就像雍正皇帝一样,把贪官污吏都大刀阔斧的处理掉,铺好道路让乾隆皇帝上位。

列出人选条件

她又何尝不是在做著更重要的使命?因为如果接班人不是国行的人选,若是抱著使命上任,谁敢一上位就不听主子的话?处理出来的结果又岂能尽如人意?这不是洁蒂所愿意看到的,洁蒂岂能假手于人,冒上功亏一簣的风险?

这些话,聪明的洁蒂怎能说出口,各位看官只能用自己的智慧去领悟了。

提到国行的接班人,洁蒂虽然无权说了算,但意属国行內部人选。原来先透露自己的心意,也是智慧表现的一种。还列出了人选的重要资格条件,说得很白了,熟悉国行的操作和文化,独立专业,更重要的是不是政治人物。

说得更白一点就是不受主人所控制,不用看脸色行事,不受摆佈或左右,只要独立专业的奉行国行的宗旨即可。全马人民都在等著看著。

洁蒂,一级棒,大马的好女儿!

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Re: Bank Negara Reserve and BLR
« Reply #4 on: April 21, 2016, 07:04:06 AM »



Wednesday, 20 April 2016
Bank Negara: No reason to ease lending conditions
BY THEAN LEE CHENG







 Dream home: Visitors at a property fair getting more information on a housing project. According to an income/affordability computation, a borrower with a mean monthly income of about RM6,000 can only afford a house of about RM350,000 and those earning about RM2,500, a RM50,000 house
Dream home: Visitors at a property fair getting more information on a housing project. According to an income/affordability computation, a borrower with a mean monthly income of about RM6,000 can only afford a house of about RM350,000 and those earning about RM2,500, a RM50,000 house
 
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PETALING JAYA: With the overall rate of housing loan rejections being reduced from about 30% in 2014 to about 20% in 2015, there is no reason to ease lending conditions, according to Bank Negara sources.

The source said housing loans are, in fact, “robust and growing at double digits”.

“The rejection rate is not benchmarked against our ‘restrictions’. What the banks have today is a broad set of guidelines.

“When developers call for loosening restrictions, what sort of restrictions are they referring to?”


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Borrowers need to have a downpayment of 30% from the third house purchase onwards. The maximum loan tenure is currently 35 years. Increasing the loan tenure would result in retirees with debts, which Bank Negara does not want, the source said.

According to the source, easier mortgage financing that property developers are currently calling for essentially means “improving their own balance sheet but transferring their burden to the households”.

According to an income/affordability computation, a borrower with a mean monthly income of about RM6,000 can only afford a house of about RM350,000 and those earning about RM2,500, a RM50,000 house.

Even with this “simplified and imprudent” computation, which does not take into account existing liabilities like cars and study loan repayments, the inflation rate, the cost of living or savings, the maximum price is about RM350,000 for a monthly mean income of RM6,000.

“So, just easing lending conditions is not going to solve this complex issue,” the source said.

There is a difference between a house purchase and home ownership. A borrower may be able to pay his mortgage for a few years, only to default later and be caught in a foreclosure situation.

“A house purchase is concluded but it did not result in home ownership,” the source said, adding that what the central bank wants is quality loans and for bank employees to be remunerated based on this.

As for calls for the developers interest-bearing scheme (DIBS) to be re-introduced for first-time buyers, the source said property sold under such schemes tend to hike up prices by between 20% and 30%.

“Selling property with DIBS is a gimmick. At the end of the day, it means buyers are saddled with high instalments,” sources said.

The source said the central bank is well aware that the property sector had slowed down considerably last year, but helping developers to improve their balance sheet at the expense of households will result in rising household debts.

Higher house prices mean higher household debts. As it is, the source said that about three quarters of those who participated in a national survey said they would not be able to raise RM1,000 in an emergency. Home ownership may not be for some, the source said

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Re: Bank Negara Reserve and BLR
« Reply #5 on: April 27, 2016, 05:52:52 PM »


Muhammad Ibrahim is the ‘right man’ for BNM governor post, says economist
Wednesday April 27, 2016
05:15 PM GMT+8

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Datuk Muhammad Ibrahim will take over as the new chief of Bank Negara Malaysia. ― Picture by Yusof Mat Isa
Datuk Muhammad Ibrahim will take over as the new chief of Bank Negara Malaysia. ― Picture by Yusof Mat Isa
KUALA LUMPUR, April 27 ― The appointment of Datuk Muhammad Ibrahim as the new Bank Negara Malaysia (BNM) governor was the right move as he is the “right man” for the post, economist Datuk Jalilah Baba said.

“He is definitely the man who will ensure the continuous financial stability of the country as he has the right skills and has been in the institution for quite some time,” she told Bernama.

She also expected Muhammad to give strong support towards the leadership of Prime Minister Datuk Seri Najib Razak, who is also Finance Minister.

“I'm sure that the corporate sites will applaud this appointment and I myself am very happy and support this move. He has the experience, he has what it takes for the position,” she added.

Meanwhile, Chief Economist of Alliance Bank Malaysia Bhd Manokaran Mottain expected the current financial policy to remain under Muhammad's reign, which is positive for the financial markets.

“Muhammad is a home-grown Governor like (Tan Sri) Dr Zeti (Akhtar Aziz). Very long been trained to take over Dr Zeti. Good succession. His years of experience should make him the most appropriate person to lead BNM,” he added.

Muhammad, 56, has been appointed as BNM Governor effective May 1, 2016, replacing current Governor Tan Sri Zeti who will retire at the end of April.

Muhammad, who joined the central bank in 1984 and was appointed Deputy Governor in June 2010, will hold the post for five years.

He holds a Masters Degree from Harvard University, an Accounting Degree from Universiti Malaya and a postgraduate diploma in Islamic Banking and Finance from the International Islamic University Malaysia.

In his 32 years at the central bank, he covered many areas including bank regulations and supervision, strategic planning, payment systems, insurance, offshore banking and treasury, and financial markets. ― Bernama

- See more at: http://www.themalaymailonline.com/malaysia/article/muhammad-ibrahim-is-the-right-man-for-bnm-governor-post-says-economist#sthash.pORIvrtn.dpuf


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Re: Bank Negara Reserve and BLR
« Reply #6 on: April 27, 2016, 05:55:29 PM »



國行新總裁:確保經濟穩定‧須維持金融體系穩定
2016-04-27 17:33     

(吉隆坡27日訊)新任國家銀行總裁拿督莫哈末依布拉欣指出,最重要的是維持我國金融體系的穩定,確保國家經濟穩定。

莫哈末依布拉欣一頭銀髮,形象特出。(圖:星洲日報)
今午當委任的消息宣佈後,他剛好出席一項畫展後受到大批媒體圍訪。
他受詢時說,對於這項委任,他以謙卑的態度接受,視之為一個可以貢獻國家的機會。
他感謝首相和政府的信任,也感謝卸任總裁丹斯里潔蒂超過16年的領導。
“能夠為國家服務,我深感榮幸。”
至於詢及1MDB調查的後續行動,他說,這容後再談。
儘管眾多媒體圍訪,一些媒體代表還是抓緊機會向新任總裁要求自拍(wefie),而總裁也欣然同意


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Re: Bank Negara Reserve and BLR
« Reply #7 on: May 05, 2016, 03:04:20 PM »



Banking on change in scandal-hit Malaysia
64
 Wong Teck Chi     Published Today 11:16 am     Updated Today 12:57 pm      10 comments
 
 
COMMENT At a time when the country is mired in an unprecedented scandal that involves Prime Minister Najib Abdul Razak and state-owned investment company 1 Malaysia Development Bhd (1MDB), the selection of an insider to take over the post of Bank Negara governor is possibly the best outcome many Malaysians could have hoped for.

However, questions remain. Many will wonder whether the new central bank governor, Muhammad Ibrahim, can stand up to Najib and execute his duty without fear or favour, particularly since he was effectively appointed by the prime minister he may have to investigate.

Muhammad was the deputy governor of Bank Negara and the only contender working within the institution. Other candidates were either politicians or technocrats within the executive, whom observers worried could directly undermine the independence of the bank.

Bank Negara has been investigating the 1MDB scandal since 2015. But it faced resistance from the government in pursuing criminal charges against the state company, in which Najib is the advisory board chairperson.

Though outgoing Bank Negara governor Zeti Akhtar Aziz (photo) has been quoted by the media as saying that she hoped to bring a closure to the 1MDB case before her retirement, more and more damaging details about the state company and the mysterious funds that flowed into Najib’s personal bank accounts have been uncovered in recent weeks.

In a report last month, ABC’s Four Corners revealed that the central bank was repeatedly warned about the prime minister’s unexplained wealth, totalling up to US$1 billion, by local bank officials.

However, it is understood that Zeti had handed back the "highly sensitive" report, not wishing for Bank Negara to keep a copy on its premises. Zeti has refused to comment on this allegation.

Be that as it may, Zeti is still widely respected for professionalism and independence in her 16 years as Bank Negara governor.

When her term was coming to an end, opposition members and civil society were increasingly worried that Najib, who is also finance minister, would use his power to recommend a confidant to take the helm at the bank.

Close relationship

Najib carried out a similar act in July 2015. In a sudden move that was widely believed to pre-empt possible graft charges against him, Najib removed the then attorney-general and replaced him with a federal judge who has a close relationship with the ruling coalition.

In a similar vein, The Wall Street Journal last month quoted sources claiming that Irwan Serigar Abdullah (photo), a top official in Najib’s Finance Ministry, who also sits on the advisory board of 1MDB, was expected to be named as the new central bank governor. However, this did not materialise.

By selecting a Bank Negara insider, Najib’s government is seeking to assure the market of the bank’s continuity and stability when it comes to monetary policy and banking oversight. But this is unlikely to remove all concerns regarding government interference in the bank, given Najib’s interest in the 1MDB scandal.

Muhammad’s first task as the new governor will probably be dealing with the problematic 1MDB fund, given the state company has recently defaulted an interest payment due to a stand-off with Abu Dhabi sovereign fund International Petroleum Investment Company (IPIC). This could have a huge impact on Malaysia’s sovereign ratings.

However, Muhammad’s biggest test lies with whether he is willing to, and capable of, pursuing the 1MDB investigation further.

Despite the fine announced by Bank Negara on April 29 for various charges contravening the country’s foreign exchange law, there are still many key issues that haven’t been dealt with, particularly the flow of Najib’s unexplained wealth over the border.

This is where the independence of the new governor will be tested.

WONG TECK CHI is a former journalist and editor with Malaysiakini. He is currently pursuing his Master's in Public Policy at the Australian National University’s Crawford School of Public Policy. This article first appeared in New Mandala

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Re: Bank Negara Reserve and BLR
« Reply #8 on: May 09, 2016, 12:21:54 PM »



New Bank Negara governor views GST as bold move
77
 Bernama     Published Today 11:19 am     Updated Today 12:03 pm      12 comments
 
 
The introduction of the Goods and Services Tax (GST) and subsidy rationalisation are viewed by the new Bank Negara Malaysia (BNM) governor, Muhammad Ibrahim, as a bold move taken by the government to face the global economic uncertainty, says Prime Minister Najib Abdul Razak.

He said this was conveyed to him by Muhammad during a recent discussion.

Najib, who is also the Finance Minister, added that the central bank governor was of the opinion that if the steps had not been taken, the country might have faced the same fate as Greece.

Muhammad was named the eighth BNM Governor, effective May 1. He replaced Zeti Akhtar Aziz who retired after being at the helm for 16 years.

Najib said if RM40 billion was removed from the national revenue annually, it would have serious implications for the country.

“So, the GST introduction, although resulting in a small increase in the prices of goods, essentially strengthened and enlarged the revenue base for the government and the country,” he added.

Najib was speaking at the monthly gathering of the Prime Minister’s Department in Putrajaya today.

He said the introduction of the 1Malaysia People’s Aid (BR1M) and flexibility in taxation, including ‘zero-rated’ items under the GST, shielded the people from the impact of implementation of the new tax regime.

“Although during the recent Sarawak state election, the opposition had made the GST an issue, it seems the people are becoming more by day, understanding, and see the move as appropriate and right for their future well-being,” he added.

Najib said with the global economy facing a drastic fall in crude oil prices and other commodity prices being at a low level, the government was still able to implement various programmes for the people.

“We are also able to look after the welfare of civil service officers, including handing out a definite one-step special rise in salaries from July 1, as well as implementation of a higher minimum pay,” he added.

Meanwhile, the prime minister urged all sectors, including small and medium enterprises (SMEs) to improve their respective productivity.

“We registered 2.3 percent in the country’s productivity under the 10th Malaysia Plan. We cannot just continue with this achievement as under the 11th Malaysia Plan, we have targeted productivity at 3.7 percent,” he said.

Najib said members of the administration and the civil service must look at the policy or action to be taken to encourage the private sector and SMEs to enhance productivity.

- Bernama

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Re: Bank Negara Reserve and BLR
« Reply #9 on: May 12, 2016, 07:32:47 AM »


 上则新闻
20%的油钱
下则新闻
材料成本高涨 粽价微调留客
财经  2016年05月11日
国行新总裁:一马债务解决將改善信心

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国行新总裁:一马债务解决將改善信心
莫哈末依布拉欣接受媒体採访。

(吉隆坡11日讯)国行新任总裁拿督莫哈末依布拉欣在一马发展有限公司(1MDB)会否违约的问题上大派定心丸,表示他相信大马政府会信守承诺,积极处理1MDB债务。而他也相信,在1MDB的问题解决后,市场情绪將会获得改善。

莫哈末依布拉欣在今日出席全球伊斯兰金融峰会(GIFF)活动后,向穷追不捨的媒体发表简短的评论。这也是他第一次以国行总裁的身份在公开场合亮相。

由於1MDB週三有一批债券到期偿还利息,在该公司早前宣布一批债券没有在期限支付利息而违约之后,市场关注该公司是否有能力支付利息。

而1MDB早前违约,已经导致金融市场震盪。令吉也重探4令吉兑1美元。

午后,阿布扎比国有企业国际石油投资有限公司(IPIC)宣布,已经在今天为5.99%的一马债券,偿还了5240万美元的利息。这批债券將在2022年到期。

这消息也让市场松一口气,马股闭市涨8.74点,至1644.58点,而令吉则稍微收復失地,报4.035兑1美元。

GIFF的主讲人之一、素有新兴市场教父之称的麦莫比,今日受询时也表示,並不担心大马1MDB问题。

「类似1MDB的问题在国际上司空见惯,这並不会影响投资者的信心。这些负面影响只是暂时的。」



金融科技顛覆金融业

另外,在今早GIFF的一场演讲中,莫哈末依布拉欣也指出,金融科技(FinTech)的崛起,將为包括伊斯兰金融在內的金融业带来显著衝击。在2025年,估计有10%到40%的银行业营业额,將会面对被金融科技蚕食的风险,而这些金融科技拥有明显的价格优势,且是由银行业界以外的领域研发。

「大马国行已经主动去接触金融科技业者,以进一步了解他们的活动和指引可能运用在他们身上的条规。」

他补充,金融科技並非毫无风险,尤其是网络安全的威胁正不断增加。国行已经对金融科技带来的改变做出评估,確保现有的条规结构可以控制相关风险。

他还提到了今年2月在大马推出的投资户口平台(IAP),这是伊斯兰银行业为了跟上科技革新而打造的金融科技项目,拥有改变金融市场生態的巨大潜力。

同样在GIFF开讲的腾讯集团高级执行副总裁刘胜义也强调,金融科技对金融业的顛覆是不可避免的。

「金融业者不要害怕顛覆,金融业必须接受和推动变革,快速响应客户要求,拥抱数码化变革带来的机会。」

根据刘胜义提供的数据,在2020年时有61%的金融服务业预计会面临科技顛覆的风险。

此外,他也指出,在2015年,全球投资在金融科技的金额超过了10亿美元,並且现代人的日常金融交易有95%透过电子方式进行;而亚洲消费者对银行业的要求也包括了可以透过网路全权处理投资事项

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Re: Bank Negara Reserve and BLR
« Reply #10 on: May 12, 2016, 02:23:21 PM »



'Did Bank Negara governor forget rakyat will foot RM48.7b for 1MDB?'
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Published Today 12:45 pm     Updated Today 1:41 pm      2 comments
 
 
Bank Negara governor Muhammad Ibrahim has seemingly overlooked how the government paying 1MDB's debts will burden the public, said an exasperated PKR lawmaker.

"I understand his subtle warning to Prime Minister Najib Abdul Razak that the country's economy and finances will only recover when 1MDB's financial burdens are solved.

"However, it is as though (Muhammad) had forgotten that the government paying any of 1MDB's debts would actually torture the people even further," Pandan MP Rafizi Ramli said in a statement today.

He was responding to Muhammad's remarks yesterday, expressing confidence that the government would fulfil its obligations on 1MDB.

He had also said that market sentiment would improve once 1MDB's debts are dealt with.

Rafizi said the government had already taken on RM4 billion of 1MDB's debts when it took over SRC International, and RM2.4 billion when it took over Bandar Malaysia.

On top of this, he said Putrajaya may have to take on the US3.5 billion (RM14 billion) bonds guaranteed by International Petroleum Investment Co (IPIC), as well as US$1.83 billion (RM7.4 billion) from its sukuk issuances.

Based on this, he said, interest on the RM27.8 billion over the next 15 years would cost Putrajaya RM20.85 billion, making the total amount of debt ultimately paid for by the rakyat at RM48.65 billion.

Rafizi said this is about RM3.3 billion annually, money that could pay for construction of two public universities and three public hospitals every year.

1MDB defaulted on another interest payment yesterday, though IPIC has paid the US$52.4 million due.

The Abu Dhabi firm, however, said that it would claim back the payments along with a previous interest payout and other claims from the Malaysian fund.

Claiming that it has funds to spare, 1MDB said it deferred payment on the US$52.4 million because of the ongoing

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Re: Bank Negara Reserve and BLR
« Reply #11 on: May 12, 2016, 02:47:07 PM »
If market don't collapse......jambanking will heavy losses... :sweat: :sweat:
malimalimaliongongongnotongchefbutishua thuatong

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Re: Bank Negara Reserve and BLR
« Reply #12 on: May 13, 2016, 03:21:30 PM »



FUKK LOR............


 1 0 0 1
Bank Negara to give 1MDB time to repatriate USD1.83 billion
Minderjeet Kaur | May 13, 2016
BNM governor Muhammad Ibrahim says reasonable time should be given to the state investment arm as debt restructuring involves a lot of negotiations.
Muhammad-Ibrahim_bnm_1mdb_600

KUALA LUMPUR: Bank Negara Malaysia (BNM) will give 1Malaysia Development Berhad (1MDB) time to repatriate the USD1.83 billion it has abroad.
“Let’s give them reasonable time. When it comes to debt restructuring and rescheduling, it involves a lot of parties and negotiation, settlements will take some time depending on the complexity of the situation,” newly-appointed BNM Governor Muhammad Ibrahim said at a press conference held at the central bank’s headquarters here today.
It had been previously reported that 1MDB has been given until May 30 to pay Bank Negara’s compound for failing to repatriate monies remitted abroad.
Muhammad also said that BNM will extend cooperation to other regulatory bodies within Malaysia investigating 1MDB, if the need arose.
The compound issued to 1MDB, he added, also marked the end of BNM’s investigation into the state-investment arm which has been plagued by controversy.

“With this, I think we have closed investigations into 1MDB.
“When we say close, we (Bank Negara) mean all rules and regulations under the bank is completed.”
Muhammad, however, refused to reveal the amount 1MDB would have to settle, saying it was not the central bank’s practice to disclose such details to the public.
In March, Bank Negara, then headed by Zeti Akhtar Aziz, said it would initiate “appropriate action” against 1MDB for failing to produce evidence it had used the allocated USD1.83 billion for debt management and restructuring exercises overseas.
1MDB had initially cited these two reasons when asked why the money had not been repatriated to Malaysian shores.
Meanwhile, on the dispute between International Petroleum Investment Corporation (IPIC) and 1MDB, Muhammad said it was a dispute between the two entities and they could settle it either via arbitrary discussion or through legal process.
IPIC and 1MDB are in a standoff over who should settle a debt on a USD1.75 billion bond issued by 1MDB in 2012

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Re: Bank Negara Reserve and BLR
« Reply #13 on: May 17, 2016, 05:50:03 AM »



New Bank Negara regulation may affect CIMB, Maybank
FMT Reporters | May 16, 2016
Rules forbid CEO becoming chairman is a bid to raise governance standards in the boards of financial institutions, says central bank.
Bank-Negara-MalaysiaPETALING JAYA: Bank Negara Malaysia (BNM) is planning to introduce new guidelines for financial institutions which could have a serious impact on the two largest banking groups in the country.
Both CIMB and Maybank could face a major dilemma with a new rule that does not allow a chief executive to take over as chairman of the board, The Singapore Straits Times reported today, adding that BNM intends the move to raise the governance standards in the boards of financial institutions.
BNM issued the guidelines to banks in March in what was called a concept paper, which is usually seen as proposals that are going to be implemented and which require feedback from the banks.
The proposed rules also state that banks must have a majority of independent directors on their respective boards.
Financial industry insiders said that the new guidelines are likely to be adopted in a matter of weeks.

“The thrust of the new rules is to protect the objectivity of the chairman and to clearly lay out the separation between the board and management,” the Singapore daily quoted a BNM official as saying.
He added that the main reason for such a rule to be in place would be to avoid situations where a chairman could be in a position to oversee policies that were put in place when that person was CEO.
CIMB’s Nazir Razak was chief executive officer (CEO) from 1999 to 2014 prior to his elevation as chairman of the board.
Nazir is currently on a self-imposed leave of absence as the bank conducts a review of his role in the disbursement of more than USD7 million (RM28.3 million) in political funds that his brother, Prime Minister Najib Razak, asked him to distribute before the last general election in 2013.
Nazir did not wish to comment on the new guidelines, the Straits Times reported.
Meanwhile, Maybank’s former CEO Abdul Wahid Omar, who is currently a Minister in the Prime Minister’s Department, is touted to return to the same banking group as chairman should he be dropped in the impending Cabinet reshuffle by Najib.
However, the new ruling would forbid him from taking up the chairmanship. Wahid was Maybank’s president and CEO between 2008 and 2013.

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Re: Bank Negara Reserve and BLR
« Reply #14 on: May 18, 2016, 02:52:10 PM »



Wednesday, 18 May 2016 | MYT 12:20 PM
StanChart Research expects cut in Malaysia's interest rates






 
 
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KUALA LUMPUR: Standard Chartered Research expects the Overnight Policy Rate (OPR) to be reduced by 25 basis points to 3% during the Monetary Policy Committee (MPC) meeting on Thursday.

It said on Wednesday its long-held view was that Bank Negara Malaysia (BNM) would cut the OPR to 3%.

“However, we see a high risk of delay, as the central bank maintained a neutral stance at its last meeting on March 9,” it said.

StanChart Research said nevertheless a dovish signal, such as an adjustment of the “accommodative and supportive” phrase, will be sufficient to reflect a stronger growth bias.

It said that BNM had maintained a neutral stance for three reasons. Firstly, monetary policy should not be seen as a silver bullet for growth; secondly, leverage is high and thirdly, growth is not as weak as other developed economies.
 
“Indeed, monetary policy is no silver bullet, and the effectiveness of major central banks’ ultra-low interest rates is debatable. But Malaysia’s policy rate is just 25bps off its historical high,” it said.

StanChart Research said a tight fiscal policy may require more support from monetary policy. Moreover, BNM’s last decision on the OPR in July 2014 was to hike it by 25bps.

“Growth conditions have weakened meaningfully since then, and the outlook remains challenging. For example, loan growth fell to 6.4% on-year in March, the lowest since 2007.

“While growth may not be low versus other developed economies’, we believe it should be compared against Malaysia’s own potential growth.

“Finally, we do not believe a 25bps cut will cause increased leverage. Given current conditions, we think a 25bps cut will help with debt servicing, rather than increase the financial imbalance,” it said

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Re: Bank Negara Reserve and BLR
« Reply #15 on: May 19, 2016, 07:18:46 AM »



财经  2016年05月18日
渣打:国行近期料不降息

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(吉隆坡18日讯)针对国家银行(BNM,简称国行)的货幣政策,渣打银行认为,在长期內,国行將降息25个基点,至3%;但是,以国行在今年3月9日货幣政策会议后,所抱持的中立態度,渣打银行预计,国行不会在近期內降息。

国行將在明天的货幣政策会议后,公布货幣政策决定。我国目前的隔夜政策利率(OPR)为3.25%。

渣打银行在报告中表示,「无论如何,我们认为,诸如『宽鬆和扶持』字眼上的调整,所释放的鸽派讯號,足以反映经济倾向较强稳的成长。」

同时,渣打银行认为,国行保持中和態度是由几个因素支撑,包括:


一、货幣政策不应被视为推动经济成长的万灵丹;

二、高槓桿;

三、成长动力並没有像其他先进经济体般疲软。

「事实上,货幣政策並非灵丹妙药,全球主要央行推行超低利率所带来的效益也备受爭议。

以目前的市况来看,我们认为,25个基点的调降率有助于降低债务,而非加剧財政失衡。」

从短期令吉匯率走势来看,渣打银行表示,货幣政策调整会对吉隆坡银行同业拆息率(KLIBOR)带来下行压力。

令吉料下探4.20

另一方面,加拿大丰业银行外匯策略员指出,令吉匯率將受到美联储货幣政策不確定性的影响。

在美国联储局下个月开会前,令吉兑美元匯率可能会温和下跌,6月底料下探4.20令吉兑1美元。

令吉匯率週三截至下午5时走软至4.0533令吉兑1美元

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Re: Bank Negara Reserve and BLR
« Reply #16 on: May 19, 2016, 11:07:19 AM »



Thursday, 19 May 2016
All eyes on interest rate, analysts expect status quo
BY CECILIA KOK







 Yesterday, the Standard Chartered (StanChart) Global Research team issued a report betting that Bank Negara could lower the OPR by 25 basis points (bps) to 3%, as the central bank’s Monetary Policy Committee (MPC) convenes today in what is to be the first meeting to be chaired by Datuk Muhammad Ibrahim(pic) as the new central bank governor.
Yesterday, the Standard Chartered (StanChart) Global Research team issued a report betting that Bank Negara could lower the OPR by 25 basis points (bps) to 3%, as the central bank’s Monetary Policy Committee (MPC) convenes today in what is to be the first meeting to be chaired by Datuk Muhammad Ibrahim(pic) as the new central bank governor.
 
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PETALING JAYA: All eyes are on Bank Negara, as speculation mounts on the possibility of the central bank lowering interest rates today.

Against a backdrop of a low interest rate environment and slowing growth, some bankers had alluded last month that Bank Negara could use this opportunity to cut the overnight policy rate (OPR) for the first time in seven years.

They had reasoned that this was to be in sync with the global trend of keeping interest rates low to stimulate the slowing economy.

Yesterday, the Standard Chartered (StanChart) Global Research team issued a report betting that Bank Negara could lower the OPR by 25 basis points (bps) to 3%, as the central bank’s Monetary Policy Committee (MPC) convenes today in what is to be the first meeting to be chaired by Datuk Muhammad Ibrahim as the new central bank governor.

“We expect a 25bp OPR cut from Bank Negara on May 19,” StanChart said in an outlook report on Malaysia’s rate policy.

“Weakening growth and tight fiscal leverage may warrant monetary support (from the central bank),” it reasoned.

However, StanChart’s view is not shared by the other economists. A survey by Bloomberg showed that StanChart was the sole institution to expect an OPR cut, while the other 20 brokerages and investment banks expect the OPR to remain unchanged at 3.25%.

StanChart, however, conceded that Bank Negara may delay the move to cut the OPR due to the high household indebtedness and that the Malaysian economy, although having slowed down, was not as weak as those of developed countries.

Bank Negara has left OPR unchanged at 3.25% since July 2014, after raising the rate by 25bps from 3%.

The last time the central bank cut the OPR was during the onslaught of the 2008/09 global financial crisis, when a cumulative 150bps were cut from the historical high of 3.5% to 2% over three consecutive MPC meetings in November 2008, January 2009 and February 2009.

Meanwhile, the overnight release of the minutes from the Federal Open Market Committee’s April 26-27 meeting is expected to shed more light on the risks of an interest rate hike or a delay of the decision by the US Federal Reserve.

This could have a bearing on Bank Negara’s policy decision.

Nevertheless, StanChart noted that growth conditions in Malaysia had weakened meaningfully since Bank Negara last revised the OPR in July 2014, and the outlook remained challenging for the third-largest economy in South-East Asia.

For instance, it pointed to loan growth, which fell to its lowest since 2007 in March this year at 6.4%.

Similarly, Malaysia’s gross domestic product (GDP) grew at the slowest pace in seven years at 4.2% during the first three months of the year to March 2016, as weak exports and sluggish domestic demand continued to weigh on the prospects of the trade-dependent economy.

“While growth may not be low versus other developed economies, we believe it should be compared against Malaysia’s own potential growth,” StanChart said.

“Finally, we do not believe a 25bp cut will cause increased leverage. Given the current conditions, we think a 25bp cut will help with debt servicing rather than increase the financial imbalance,” it added.

Meanwhile, Maybank Investment Bank Research and RHB Research also saw the possibility of Bank Negara lowering the OPR by 25bps in the future.

“A sharp slowdown in money supply growth suggests that things are not well in the economy and may warrant further policy easing or stimulus from the authorities to arrest a down shift in growth before it is too late. It remains to be seen whether the newly appointed governor will take any action to support the economy,” RHB Research said.

The brokerage noted that Bank Negara had earlier highlighted that cutting interest rates from the current level would unlikely generate much marginal growth for Malaysia’s economy, but could lead to disintermediation of savings, perpetuate excessive risk taking by borrowers and risk building up financial imbalances that could be equally damaging to the economy.

“Still, something needs to be done, either through monetary or fiscal policy or a combination of both, to support the economy,” RHB Research said.

While it would still maintain its expectations for Bank Negara to keep the OPR unchanged at 3.25% through 2016, given the central bank’s more optimistic forecast for a better second-half performance, RHB Research said it was becoming increasingly wary of the rising downside risks of economic growth slowing more than expected.

This, it said, would increase the chances of the central bank leaning towards a 25bp cut of the OPR in the second half of 2016.

Similarly, Maybank Investment Bank said, “We are also not ruling out the possibility of an OPR cut by Bank Negara this year, as the central bank commented on growth facing downside risks in its press release on the first quarter-2016 GDP growth, hence our OPR forecast range of 3%-3.25%.”

“Economic data between now and August 2016 will be crucial in determining whether quarterly growth has bottomed or not,” it said.

Among countries in the region that had eased their monetary policies in recent months were Indonesia, Singapore, India and Australia.

Bank Indonesia has cut its benchmark interest rates three times since the start of 2016 by a cumulative 75bps to support its slowing economy, while last month saw the Monetary Authority of Singapore surprisingly devaluing its currency amid deflationary risks, and the Reserve Bank of India cutting its benchmark interest rates to a five-year low of 6.5%.

The Reserve Bank of Australia, on the other hand, cut its interest rates early this month to a record low of 1.75% to boost the country’s economy.

Bank of Japan had early this year pushed its economy into negative interest rates, while Taiwan unveiled its third consecutive rate cut in March

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Re: Bank Negara Reserve and BLR
« Reply #17 on: May 19, 2016, 06:24:30 PM »



OPR maintained at

3.25%

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Re: Bank Negara Reserve and BLR
« Reply #18 on: May 19, 2016, 08:11:04 PM »



Malaysia Keeps Benchmark Rate Steady at Governor’s First Meeting
  Pooi Koon Chong
May 19, 2016 — 5:59 PM MYT
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GDP expanded at the slowest pace since 2009 in first quarter
Central bank has kept benchmark rate unchanged since 2014
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Malaysia’s central bank held interest rates steady at Governor Muhammad Ibrahim’s first policy meeting as chief, refraining from immediately adding stimulus to an economy that could need it in coming quarters.
Bank Negara Malaysia kept the overnight policy rate at 3.25 percent for an 11th meeting, it said in a statement in Kuala Lumpur Thursday. The decision was predicted by all but one of 21 economists surveyed by Bloomberg News.
With an economy that’s forecast to expand at the slowest pace in seven years, and loan growth rates easing to levels not seen since at least 2008, the case is starting to build in Malaysia for an easing in policy. The collapse in oil prices has hurt government finances over the past two years, exports and private investment have faltered, while consumers and businesses are still contending with rising costs.
"Domestic fundamentals are gradually tipping towards the need for a more accommodative monetary policy," Irvin Seah, an economist at DBS Group Holdings Ltd. in Singapore, said before the decision. "They have the room to cut, if they want" and there’s still time for them to assess the situation, he said.
Weaker Ringgit
The ringgit fell 0.8 percent to 4.0830 a dollar in Kuala Lumpur Thursday. The Malaysian currency has weakened about 4.5 percent against the greenback this quarter, after a 10.1 percent gain in the first three months of the year.
The implied policy yield curve indicates expectations of an easing by policy makers in the next year, while six of 25 economists surveyed by Bloomberg expect a rate cut next quarter. At the current level of the overnight policy rate, the stance of monetary policy is accommodative and supportive of economic activity, the central bank said on Thursday.
"The Monetary Policy Committee recognises that there are downside risks in the global economic and financial environment and is closely monitoring and assessing their implications on domestic price stability and growth," it said. "This is to ensure that the monetary policy stance is consistent with sustainable growth of the Malaysian economy."
Malaysia’s external sector will continue to be constrained by the weak global environment, the central bank said. It expects economic activity to improve with domestic demand remaining the key driver of growth. Inflation is expected to trend lower for the rest of the year after averaging 3.4 percent in the first quarter, it said.
Muhammad began a five-year term this month after replacing Zeti Akhtar Aziz. who was governor for 16 years. He has pledged monetary and financial stability to a nation that’s endured more than a year of market volatility and political tensions.

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Re: Bank Negara Reserve and BLR
« Reply #19 on: May 19, 2016, 08:22:29 PM »



Malaysia Keeps Benchmark Rate Steady at Governor’s First Meeting
  Pooi Koon Chong
May 19, 2016 — 5:59 PM MYT
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GDP expanded at the slowest pace since 2009 in first quarter
Central bank has kept benchmark rate unchanged since 2014
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Malaysia’s central bank held interest rates steady at Governor Muhammad Ibrahim’s first policy meeting as chief, refraining from immediately adding stimulus to an economy that could need it in coming quarters.
Bank Negara Malaysia kept the overnight policy rate at 3.25 percent for an 11th meeting, it said in a statement in Kuala Lumpur Thursday. The decision was predicted by all but one of 21 economists surveyed by Bloomberg News.
With an economy that’s forecast to expand at the slowest pace in seven years, and loan growth rates easing to levels not seen since at least 2008, the case is starting to build in Malaysia for an easing in policy. The collapse in oil prices has hurt government finances over the past two years, exports and private investment have faltered, while consumers and businesses are still contending with rising costs.
"Domestic fundamentals are gradually tipping towards the need for a more accommodative monetary policy," Irvin Seah, an economist at DBS Group Holdings Ltd. in Singapore, said before the decision. "They have the room to cut, if they want" and there’s still time for them to assess the situation, he said.
Weaker Ringgit
The ringgit fell 0.8 percent to 4.0830 a dollar in Kuala Lumpur Thursday. The Malaysian currency has weakened about 4.5 percent against the greenback this quarter, after a 10.1 percent gain in the first three months of the year.
The implied policy yield curve indicates expectations of an easing by policy makers in the next year, while six of 25 economists surveyed by Bloomberg expect a rate cut next quarter. At the current level of the overnight policy rate, the stance of monetary policy is accommodative and supportive of economic activity, the central bank said on Thursday.
"The Monetary Policy Committee recognises that there are downside risks in the global economic and financial environment and is closely monitoring and assessing their implications on domestic price stability and growth," it said. "This is to ensure that the monetary policy stance is consistent with sustainable growth of the Malaysian economy."
Malaysia’s external sector will continue to be constrained by the weak global environment, the central bank said. It expects economic activity to improve with domestic demand remaining the key driver of growth. Inflation is expected to trend lower for the rest of the year after averaging 3.4 percent in the first quarter, it said.
Muhammad began a five-year term this month after replacing Zeti Akhtar Aziz. who was governor for 16 years. He has pledged monetary and financial stability to a nation that’s endured more than a year of market volatility and political tensions.

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Re: Bank Negara Reserve and BLR
« Reply #20 on: May 19, 2016, 08:24:28 PM »



Economic and Financial Data for Malaysia
Last updated:  19 May 2016 Malaysian Flag
The data shown on this page correspond to the data described on the International Monetary Fund's Dissemination Standards Bulletin Board (DSBB). For a fuller explanation of the DSBB and the statistical standards to which Malaysia has committed, please click on DSBB Home Page.
ANNOUNCEMENT: The Current SDDS Data Category and Component of at Least 5 Years Back Series is now available. Please click Download to view the back series of each item. ..
[ Real Sector | Fiscal Sector | Financial Sector | External Sector | Population ]
Real Sector
SDDS Data Category and Component   Unit Description   Observations   More info
Period of latest   Latest data   Data for previous period   Back Series Data
(xls)
National Accounts (GDP) at Current Prices   RM million   Q1/16   291,002   303,955   
Download
GDP by Expenditure

DOSM
Agriculture   RM million   Q1/16   22,562   24,305       
Mining and Quarrying   RM million   Q1/16   26,638   25,952       
Manufacturing   RM million   Q1/16   64,755   69,007       
Electricity, Gas and Water   RM million   Q1/16   7,792   7,996       
Construction   RM million   Q1/16   14,967   14,078       
Wholesale and Retail Trade, Accommodation and Restaurants   RM million   Q1/16   54,370   59,751       
Transport, Storage and Communication   RM million   Q1/16   26,740   26,219       
Finance, Insurance, Real Estate and Business Services   RM million   Q1/16   32,237   32,675       
Other Services   RM million   Q1/16   12,982   12,735       
Government Services   RM million   Q1/16   23,832   27,062       
Less : FISIM 8 undistributed   RM million   Q1/16   -   -       
Plus : Import duties   RM million   Q1/16   4,128   4,176       
National Accounts (GDP) at 2010 prices   RM million   Q1/16   265,088   277,924   
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Agriculture   RM million   Q1/16   20,052   23,617       
Mining and Quarrying   RM million   Q1/16   24,823   24,269       
Manufacturing   RM million   Q1/16   60,616   63,767       
Electricity, Gas and Water   RM million   Q1/16   6,969   6,872       
Construction   RM million   Q1/16   12,558   11,966       
Wholesale and Retail Trade, Accommodation and Restaurants   RM million   Q1/16   46,006   49,942       
Transport, Storage and Communication   RM million   Q1/16   25,324   25,067       
Finance, Insurance, Real Estate and Business Services   RM million   Q1/16   30,292   30,760       
Other Services   RM million   Q1/16   11,940   11,883       
Government Services   RM million   Q1/16   22,747   25,833       
Less : FISIM 8 undistributed   RM million   Q1/16   -   -       
Plus : Import duties   RM million   Q1/16   3,762   3,948       
Industrial Production Index   2010=100   Mar/16   127.8   114.9   
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DOSM
Employment   million persons   Q1/16   14.096   14.128   
Download
DOSM
Mar/16   14.201   14.197   
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Employment   % of labour force   Q1/16   96.6   96.8   
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DOSM
Mar/16   96.5   96.6   
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Unemployment   million persons   Q1/16   0.501   0.472   
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DOSM
Mar/16   0.510   0.506   
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Unemployment   % of labour force   Q1/16   3.4   3.2   
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DOSM
Mar/16   3.5   3.4   
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Average salaries and wages per employee in manufacturing sector   RM per month   Mar/16   3,128.5   3,121.7   
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DOSM
Consumer Price Index   2010=100   Mar/16   113.8   114.5   
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DOSM
Producer Price Index - Local Production   2010=100   Mar/16   99.7   99.6   
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DOSM
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Fiscal Sector
SDDS Data Category and Component   Unit Description   Observations   More info
Period of latest   Latest data   Data for previous period   Back Series Data
(xls)
Public Sector Operations */                   
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Treasury
General Government                       
Revenue   RM million   2014   206,901   191,554       
Operating expenditure   RM million   2014   242,978   236,610       
Non-financial public enterprises' operating surplus   RM million   2014   116,414   139,821       
Public sector current account   RM million   2014   80,337   94,765       
Net development expenditure   RM million   2014   155,322   133,345       
Public sector overall balance   RM million   2014   -74,985   -38,581       
Domestic financing   RM million   2014   54,040   53,362       
Bank   RM million   2014   29,738   34,835       
Non-bank   RM million   2014   24,302   18,527       
Foreign borrowing   RM million   2014   -2,852   13,193       
Central Government Operations 1/                   
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Treasury
Revenue   RM million   Mar/16   21,001   13,460       
Expenditure   RM million   Mar/16   22,414   19,800       
Overall balance   RM million   Mar/16   -1,413   -6,340       
Domestic financing2/   RM million   Mar/16   9,000   500       
Bank   RM million   Mar/16   -3,548   1,257       
Non-bank   RM million   Mar/16   12,548   -757       
Foreign borrowing   RM million   Mar/16   -128   -7       
Central Government Debt                   
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BNM
Current liabilities, total   RM million   Q1/16   626,872   630,540       
Short-term debt   RM million   Q1/16   6,000   4,700       
Medium-and long-term debt   RM million   Q1/16   620,872   625,840       
Domestic debt4   RM million   Q1/16   416,716   433,100       
Short-term debt   RM million   Q1/16   1,395   1,365       
Medium-and long-term debt   RM million   Q1/16   415,321   431,735       
External debt5   RM million   Q1/16   210,157   197,441       
Short-term debt   RM million   Q1/16   4,605   3,335       
Medium-and long-term debt   RM million   Q1/16   205,551   194,106       
External debt, by currency5                       
RM6   RM million   Q1/16   190,247   175,964       
USD   RM million   Q1/16   14,146   15,444       
Yen   RM million   Q1/16   5,381   5,611       
Other   RM million   Q1/16   383   422       
Debt guaranteed by Federal Government   RM million   Q1/16   n.a.   177,729       

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Financial Sector
SDDS Data Category and Component   Unit Description   Observations   More info
Period of latest   Latest data   Data for previous period   Back Series Data
(xls)
Analytical Accounts of the Banking Sector                   
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BNM
Narrow money (M1)   RM million   Mar/16   354,150   366,930       
Broad money (M3)   RM million   Mar/16   1,604,414   1,603,298       
Net claims on Government   RM million   Mar/16   94,597   100,759       
Claims on the private sector   RM million   Mar/16   1,570,349   1,572,055       
Net foreign assets   RM million   Mar/16   507,433   533,342       
Analytical Accounts of the Central Bank                   
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BNM
Reserve money   RM million   Apr/16   133,162   129,960       
Net claims on Government   RM million   Apr/16   -6,568   -8,204       
Claims on the private sector   RM million   Apr/16   6,188   6,096       
Net foreign assets   RM million   Apr/16   373,922   374,155       
Interest Rates (Average of deposit and lending rates)                   
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BNM
Interbank rate (3-month)   % p.a.   Daily               BNM
BNM Overnight Policy Rate (OPR) (w.e.f Apr/26/04)   % p.a.   May/16   3.25   3.25       
Discount rates on Treasury Bills (3-mth)   % p.a.   Mar/16   2.39   0.00       
Market Indicative Yield on 5-year Federal Government securities   % p.a.   Mar/16   3.43   3.54       
Market Indicative Yield on 10-year Federal Government securities   % p.a.   Mar/16   3.80   3.93       
Financial Soundness Indicators (FSIs) [PDF]                       IMF [PDF]
Stock Market share price index   Bursa Malaysia Composite Index, 1977=100   Daily               Bursa Malaysia
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External Sector
SDDS Data Category and Component   Unit Description   Observations   More info
Period of latest   Latest data   Data for previous period   Back Series Data
(xls)
Balance of Payments           Q1/16 (BPM6)   Q4/15 (BPM6)   
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DOSM
Current Account   RM million   Q1/16   5,039   10,535       
Goods: Exports   RM million   Q1/16   161,526   184,590       
Goods: Imports   RM million   Q1/16   138,036   153,504       
Services: Credit   RM million   Q1/16   34,632   35,500       
Services: Debit   RM million   Q1/16   41,459   41,929       
Primary Income: Credit   RM million   Q1/16   10,760   12,261       
Primary Income: Debit   RM million   Q1/16   17,448   21,368       
Secondary Income: Credit   RM million   Q1/16   3,539   3,537       
Secondary Income: Debit   RM million   Q1/16   8,477   8,552       
Capital Account:   RM million   Q1/16   -9   -15       
Credit   RM million   Q1/16   1   1       
Debit   RM million   Q1/16   10   16       
Financial Account   RM million   Q1/16   5,789   3,911       
Direct Investment: Assets   RM million   Q1/16   -11,210   -2,870       
Direct Investment: Liabilities   RM million   Q1/16   14,941   8,642       
Portfolio & Financial Derivatives   RM million   Q1/16   13,593   15,781       
Other Investment   RM million   Q1/16   -11,535   -17,642       
Reserves Assets   RM million   Q1/16   27,570   6,000       
Net Errors and Omissions   RM million   Q1/16   -38,388   -20,431       
International Reserves (RM)3/   RM billion   Apr/29/16   381.4   382.1   
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BNM
International Reserves (USD) 3/   USD billion   Apr/29/16   97.0   97.2       BNM
Foreign Currency Reserves   USD billion   Apr/29/16   89.1   89.2       
IMF Reserve Position   USD billion   Apr/29/16   0.8   0.8       
SDRs   USD billion   Apr/29/16   1.2   1.2       
Gold   USD billion   Apr/29/16   1.4   1.4       
Other Reserve Assets   USD billion   Apr/29/16   4.5   4.6       
Reserves Template                   
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Reserve Template
Official Reserve Assets   USD billion   Mar/16   97.0   95.6       
Other Foreign Currency Assets   USD billion   Mar/16   0.9   1.4       
Merchandise Trade                   
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DOSM
Total exports, f.o.b.   RM million   Mar/16   66,586   56,720       BNM
Total imports, c.i.f.   RM million   Mar/16   55,394   49,368       
Balance   RM million   Mar/16   11,193   7,352       
International Investment Position                   
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DOSM
Assets   RM million   Q4/15   1,665,591   1,714,516       
Direct investment   RM million   Q4/15   664,565   686,533       
Portfolio investment   RM million   Q4/15   296,717   308,424       
Equity and investment fund shares   RM million   Q4/15   204,093   202,496       
Debt securities   RM million   Q4/15   92,624   105,929       
Financial derivatives   RM million   Q4/15   13,239   15,570       
Other investment   RM million   Q4/15   281,983   288,892       
Reserve assets   RM million   Q4/15   409,087   415,096       
Liabilities   RM million   Q4/15   1,558,462   1,568,560       
Direct investment   RM million   Q4/15   583,747   585,131       
Portfolio investment   RM million   Q4/15   623,332   608,095       
Equity and investment fund shares   RM million   Q4/15   254,811   245,627       
Debt securities   RM million   Q4/15   368,521   362,469       
Financial derivatives   RM million   Q4/15   11,221   13,820       
Other investment   RM million   Q4/15   340,162   361,514       
Net international investment position   RM million   Q4/15   107,129   145,956       
Gross External Debt 7/   RM million   Q1/16   809,096   833,817   
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BNM
General Government   RM million   Q1/16   210,157   197,441       
Short-term   RM million   Q1/16   4,605   3,335       
Long-term   RM million   Q1/16   205,551   194,106       
Bonds   RM million   Q1/16   199,545   187,808       
Loans   RM million   Q1/16   6,007   6,298       
Monetary authorities   RM million   Q1/16   28,466   31,720       
Banks   RM million   Q1/16   281,125   298,450       
Short-term   RM million   Q1/16   233,261   247,282       
Loans   RM million   Q1/16   150,660   161,301       
Currency and deposits   RM million   Q1/16   78,785   81,616       
Others   RM million   Q1/16   3,815   4,365       
Long-term   RM million   Q1/16   47,864   51,168       
Bond/Loans   RM million   Q1/16   47,279   50,613       
Others   RM million   Q1/16   585   555       
Other sectors   RM million   Q1/16   289,349   306,206       
Short-term   RM million   Q1/16   69,143   77,568       
Loans   RM million   Q1/16   16,481   16,420       
Others   RM million   Q1/16   52,662   61,148       
Long-term   RM million   Q1/16   220,206   228,637       
Bonds/Loans   RM million   Q1/16   216,804   225,312       
Others   RM million   Q1/16   3,402   3,326       
Exchange Rates   RM per major Currencies   Daily               Exchange Rates
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Population
SDDS Data Category and Component   Unit Description   Observations   More info
Period of latest   Latest data   Data for previous period   Back Series Data
(xls)
Population   million persons   2015   31.0   30.6   
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1 Refers to monthly data
2 In some instances, data on domestic financing from banking sources and the Accountant General would differ due to the differences in timing when the transactions are recorded.
3 Fortnightly data
4 Following the redefinition of external debt (see Box Article on the 'Redefinition of External Debt' in BNM Quarterly  Bulletin: First Quarter 2014), the domestic debt composition excludes non-resident holdings of ringgit-denominated Federal Government debt (MGS, GII, T-bills etc)
5 Refers to the redefined external debt, which includes non-resident holdings of Federal Government debt (MGS, GII, T-bills, etc) which was classified as domestic debt under the previous definition
6 Refers to non-resident holdings of ringgit-denominated Federal Government debt (MGS, GII, T-bills, etc)
7 Refers to the redefined external debt which include loans obtained and bonds and notes issued abroad, non-resident (NR) holdings of ringgit-denominated debt securities, NR deposit, trade credit and other debt liabilities. For more information, please refer to the box article entitled 'The Redefinition of External Debt' in the Bank Negara Malaysia Quarterly Bulletin: Economic and Financial Developments in the First Quarter of 2014.
Source: Treasury & Joint International Investment Position (IIP) Report by Residence Companies by Department of Statistic, Malaysia and Bank Negara Malaysia.
8In accordance to the latest SNA 2008, beginning 1Q 2012 publication , FISIM are now distributed across the various economic sector
 

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Re: Bank Negara Reserve and BLR
« Reply #21 on: May 20, 2016, 07:11:09 AM »



财经  2016年05月19日
经济放缓 降息预期昇高 国行新总裁受考验

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经济放缓 降息预期昇高 国行新总裁受考验
市场把目光聚焦在莫哈末依布拉欣的身上,看他会祭出什么良策,以刺激 当前放缓的经济。

(吉隆坡19日讯)基于大马经济放缓,市场纷纷传出了降息的声浪,这將考验国家银行新总裁拿督莫哈末依布拉欣。

刚于5月1日走马上任的莫哈末依布拉欣,將首次以国行总裁的身份,主持5月份的货幣政策会议。

他面对当前经济放缓、令吉匯率波动及政治紧张所带来的压力,所以市场把目光聚焦在莫哈末依布拉欣的身上,看他会祭出什么良策,以刺激当前放缓的经济。

根据《彭博社》报导,多数经济学家皆预测,国行于19日和20日召开货幣政策会议后,將在今天傍晚宣佈维持隔夜政策利率(OPR)在3.25%。


然而,大马目前的贷款成长率已跌至2008年以来的最低水平,同时经济成长也预料將以7年以来的最慢速度扩张。

渣打银行驻新加坡区域研究主管爱德华李表示,全球经济放缓是所有中央银行总裁所面临的艰难时刻。

他认为,大马经济成长情况已恶化,加上现有的货幣政策或许并「不適当」,因此,他预料国行將在今天宣布降息。

面对双重打击

基于大马是原油出口国,所以国际油价在过去2年內暴跌,让大马经济身受衝击,加上作为大马第2大出口市场的中国经济也陷入放缓,令大马面对双重打击。

此外,令吉匯率在亚洲区域货幣中,亦从今年首3个月的表现最佳货幣,转为现季度表现最差的货幣。

另一方面,瑞穗银行经济学家威苏努瓦拉丹也指出,「国行新总裁莫哈末依布拉欣能藉此机会,至少將点出全球环境不断变化所引起的下行风险,惟,相信他不会在初步的阶段,採取改变政策的举动,避免对广泛的稳定性带来风险。」

他还指出,为了解决市场下跌的风险,国行可以放宽货幣政策,但会引起一些爭议。

3年期的政府债券利率已低于隔夜政策利率,显示了市场预期国行决策人將在明年放宽货幣政策。

根据《彭博社》向在25名经济学家进行的调查显示,有6名经济学家预测国行將于下个季度降息。然而,在另一项调查中,在21名经济学家当中,只有1名预测,国行將在週四宣布降息。

国行自2009年以来不曾降息,只在今年2月时下调了法定储备金率(SRR),而该举措已释放了50亿至60亿令吉(占整体存款的0.3%)的流动性至金融系统。

自2014年12月达到8年新高后,3个月的吉隆坡银行同业拆息率(KLIBOR)至今已下跌了20个基点,至3.67%。

澳纽银行经济学家黄伟文(译音)表示,如果大马经济成长比预期差,將会造成银行系统的游资吃紧。

他称,「当成长不如预期,或是银行收紧借贷,隔夜政策利率就越有可能遭下调,甚至再度调降是法定储备金率。」

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Re: Bank Negara Reserve and BLR
« Reply #22 on: May 21, 2016, 04:15:58 PM »



BNM’s international reserves at RM382.3b as at May 13
Published: May 20, 2016 08:11 PM GMT+8

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BNM said the reserves position was sufficient to finance 7.9 months of retained imports and is 1.2 times the short-term external debt. — Picture by Yusof Mat Isa
BNM said the reserves position was sufficient to finance 7.9 months of retained imports and is 1.2 times the short-term external debt. — Picture by Yusof Mat Isa
KUALA LUMPUR, May 20 — Bank Negara Malaysia’s (BNM) international reserves amounted to RM382.3 billion (equivalent to US$97.2 billion) as at May 13.

In a statement today, BNM said the reserves position was sufficient to finance 7.9 months of retained imports and is 1.2 times the short-term external debt.

The central bank said the main components of the international reserves were foreign currency reserves (US$89.2 billion), International Monetary Fund position (US$0.8 billion), Special Drawing Rights (US$1.1 billion), gold (US$1.5 billion) and other reserve assets (US$4.6 billion).

The assets included Malaysian government papers (RM1.88 billion), deposits with financial institutions (RM2.08 billion), loans and advances (RM7.29 billion) and other assets (RM13.37 billion).

Capital and liabilities comprised paid-up capital (RM100 million), reserves (RM102.55 billion), currency in circulation (RM88.08 billion), deposits by financial institutions (RM165.66 billion), federal government deposits (RM11.48 billion), other deposits (RM566.36 million), BNM papers (RM15.36 billion), allocation of SDRs (RM7.37 billion) and other liabilities (RM17.88 billion). — Bernama

- See more at: http://m.themalaymailonline.com/money/article/bnms-international-reserves-at-rm382.3b-as-at-may-13#sthash.aMUez6ah.dpuf

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Re: Bank Negara Reserve and BLR
« Reply #23 on: May 23, 2016, 06:04:39 AM »



Analysts have mixed views on OPR direction
Posted on 23 May 2016 - 05:36am
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PETALING JAYA: Analysts have mixed views on whether the overnight policy rate (OPR) will be maintained or not this year, with MIDF Research expecting a cut in second half of 2016 and Hong Leong Investment Bank (HLIB) Research expecting it to be kept at 3.25%.

HLIB Research said the tone of central bank’s monetary policy committee (MPC), which kept the OPR unchanged at 3.25% last Thursday, was broadly unchanged from its previous statement.

“We deem the MPC’s overall stance as neutral, amid downside risks in the global economy. We view this as a favourable development as it is seen as a continuation of policy to anchor financial stability, as it was during governor Zeti’s administration,” said HLIB Research in a report last Friday.

The MPC expects the economy to improve, driven by domestic demand and inflation momentum to trend lower for the rest of 2016 due to low energy and commodity prices.

It said that Bank Negara Malaysia’s expectation of an improvement in economic activity is in line with its expectation of growth to improve in 2H16 arising from continued recovery in consumption supported by measures to raise disposable income, sustained pick-up in construction sector following larger-than-expected value of contracts awarded in Q1’16 and normalisation in agriculture production given the fading El Nino effect.

“We opine that loan growth should record a moderate recovery in 2H16 after recording a weak reading in Q1’16, in tandem with improvement in domestic economic activity,” said HLIB Research. It maintained its CPI growth forecast for 2016 at 2.5%.

“There are still plenty of drivers to support domestic growth despite rising external uncertainty. We maintain our 2016 gross domestic product (GDP) growth forecast at 4.2%,” HLIB Research said.

Meanwhile, MIDF Research maintained its expectation that BNM will cut OPR by 25 bps in September 2016, due to global economic uncertainty, weak performance of manufacturing sector, and softening money supply and deposit growth.

“The cut would be in line with global monetary policy directions, which are generally heading for an expansionary monetary policy except for the US. We maintain our inflation forecast for year 2016 at 2.6% and OPR forecast to be at 3% by year-end,” it said in its report.

Money supply shrunk for the first time since March 2000 by 1.7% in March 2016, which MIDF Research deems a troubling development, as it could potentially lead to economic slowdown due to less liquidity and transactions in the economy.

“We believe this could be due to various economic factors, particularly from the external fronts including global manufacturing slowdown and weak trading activity,” it said.

It said that the growth of demand deposit, which fell by 4.4% in the same period, could potentially lead to lower domestic demand in the future

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Re: Bank Negara Reserve and BLR
« Reply #24 on: May 26, 2016, 04:27:57 PM »



Highlight
Pua: Has Bank Negara probed Najib for money laundering?
By Chen Shaua Fui / theedgemarkets.com   | May 26, 2016 : 3:18 PM MYT   
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KUALA LUMPUR (May 26): Opposition legislator Tony Pua asked today if Bank Negara Malaysia has commenced investigations on the more than US$1 billion (RM4.1 billion) allegedly deposited into Prime Minister Datuk Seri Najib Razak's personal account, for possible money laundering.

Pua said that despite being arguably the most "aggressive" regulatory agency to investigate troubled state fund 1Malaysia Development Bhd (1MDB) in Malaysia, the central bank "barely scratched the surface of the entire scandal".

Citing recent action by Switzerland's Office of the Attorney General (OAG) and the Monetary Authority of Singapore (MAS) on the BSI Bank, Pua questioned: "What has Bank Negara done to protect the integrity of our financial system?"

"Despite the fact that Malaysia is being ridiculed globally and cited as an example of a rogue state run by kleptocrats, Bank Negara has barely bared its purportedly powerful fangs to indict those who have been responsible," he added at a news conference at the Parliament lobby.

Pua said Bank Negara had made a hue and cry over how 1MDB illegally transferred US$1.83 billion overseas, and the demands for 1MDB return the funds immediately.

"But it all ended with a whimper when Bank Negara agreed to close the chapter by slapping 1MDB on the wrist with a compound. 1MDB proudly issued a statement that it has paid the fine yesterday.

"To rub salt on Malaysians' wounds, the quantum of the fine was undisclosed, so it could be a pitiful RM4,000 for all we know," he added.

The Petaling Jaya Utara MP accused the central bank of blemishing its reputation and bringing shame to the country, saying it has allowed itself to be used by the alleged money-laundering suspects to acquit themselves.

Pua noted that Department of Special Affairs (Jasa) director-general and UMNO leader Datuk Mohd Puad Zarkashi, when explaining Najib's "donation" scandal, told students in Australia that the prime minister had discussed the matter with the then Bank Negara governor Tan Sri Dr Zeti Akthar Aziz and even received the central bank's approval to bring in the money.

Najib has been accused of receiving more than US$1 billion in his personal account with AmBank Bhd, which he has not denied. The attorney-general has cleared him from any wrongdoing.

"Hence the question for Bank Negara is: Did Datuk Seri Najib Razak indeed obtain approval from Bank Negara and has the information on the source of funds been diligently verified since it has brought disrepute to the country?" Pua asked.

Pua said fellow DAP parliamentarian Lim Lip Eng has submitted a letter on Aug 5, 2015 asking the central bank to clarify if the transaction complied with the Anti-Money Laundering and Anti-Terrorism Financing Act 2013 (AMLA).

He noted that Najib and other Umno leaders have insisted that the "incredibly large sums" the prime minister received were "donations" from an unnamed Middle-Eastern individual.

"However, that excuse, even if it were unbelievably true, does not absolve the prime minster from the purview of AMLA. That is because even a 'donation' could have originated from illegal and illicit sources via complex money-laundering mechanisms.

"Bank Negara Malaysia, as the 'competent authority' under the AMLA, must confirm if the prime minister has been investigated under the law and if he has been cleared. Silence from Bank Negara is not an option.

"The failure to investigate or confirm the above would only mean that the central bank has abdicated its powers and severely neglected its responsibility to protect the integrity of our financial system, especially when compared to the actions of foreign central banks to date," said Pua

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Re: Bank Negara Reserve and BLR
« Reply #25 on: May 27, 2016, 08:28:35 AM »



1MDB Watch
Has Bank Negara given 1MDB new deadline to repatriate funds? – asks Kit Siang
By Surin Murugiah / theedgemarkets.com   | May 27, 2016 : 8:09 AM MYT   
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KUALA LUMPUR (May 27): DAP’s Lim Kit Siang today questioned if Bank Negara Malaysia (BMN) given  a new deadline for 1Malaysia Development Bhd (1MDB) to repatriate RM7.76 billion of its funds remitted abroad or if 1MDB could keep them overseas.

In a statement today, Lim who is DAP Parliamentary Leader and MP for Gelang Patah, said the announcement by BNM governor Datuk Muhammad Ibrahim that the central bank has closed its case against 1MDB, at a time when global monetary watch-dogs as in Singapore and Switzerland  had just started to take action against money-laundering and other corruption offences related to 1MDB,  was the first black mark for the new Bank Negara chief.

“Where is Bank Negara’s much touted transparency and accountability when it refuses to reveal what was the compound fine which had been paid in full by 1MDB for failing to comply with Bank Negara directives issued under the Financial Services Act 2013 which, among others, include a requirement for 1MDB to repatriate US$1.8 billion (about RM7.76 billion) of its funds remitted abroad following the revocation of the three permissions granted by Bank Negara to 1MDB in 2009, 2010 and 2011?” he said.

Lim also questioned as to why BNM was keeping its compound fines on 1MDB secret, while it was public knowledge that the Monetary Authority of Singapore (MAS) had imposed a fine of S$13.3 million on the Singapore branch of BSI  for 41 breaches of its requirements while the Swiss Financial Market Supervisory Authority (FINMA) had ordered the “disgorgement” of “illegally generated profits” of US$95.6 million from BSI, apart from the separate orders of the Singapore and Swiss financial authorities for the closure of the Singapore branch of  BSI and the 143-year-old mother bank in Switzerland.

“Was the compound fine imposed by Bank Negara on 1MDB RM10,000, RM100,000, RM1 million, RM10 million, RM100 million or more?

“Surely, the Malaysian people are entitled to know from Bank Negara what is this compound fine?” he said.

Lim added that furthermore, as a fully-owned government company, Malaysians were also entitled to know from 1MDB, the Finance Ministry and the Prime Minister, Datuk Seri Najib Razak what was the compound fine 1MDB had to pay Bank Negara, as this payment had to be borne by the Malaysian taxpayers

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Re: Bank Negara Reserve and BLR
« Reply #26 on: May 27, 2016, 10:50:46 AM »



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FROM THE EDGE
Bank Negara will continue to assist other authorities on 1MDB
By Ahmad Naqib Idris / The Edge Financial Daily   | May 27, 2016 : 10:37 AM MYT   
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This article first appeared in The Edge Financial Daily, on May 27, 2016.

KUALA LUMPUR: Bank Negara Malaysia said it will continue to extend its cooperation to other authorities on their respective investigations into 1Malaysia Development Bhd (1MDB), following the completion of the central bank’s probe.

Bank Negara governor Datuk Muhammad Ibrahim said with 1MDB’s payment of the compound imposed by the central bank, the bank’s investigation into the matter had been concluded.


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“Regulatory authorities will make their investigation based on the rules and regulations of the various jurisdictions. As far as we are concerned, 1MDB has already paid the compound and with that, that is the conclusion of our investigation within Bank Negara rules and regulations and the laws administered.

“There are other laws administered by other authorities. We will continue to give our cooperation in this matter,” he told reporters on the sidelines of the Malaysian Banking Summit.

To recap, 1MDB was issued a fine by the central bank, for non-compliance with the Financial Services Act, over its failure to repatriate US$1.83 billion that it invested overseas.

This followed the revocation of three permissions granted by the central bank to the troubled state fund from 2009 to 2011

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Re: Bank Negara Reserve and BLR
« Reply #27 on: May 27, 2016, 12:06:12 PM »



1MDB officers should pay fine, not taxpayers, Bank Negara told
 11 comments     Published Today 10:51 am     Updated Today 11:32 am

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The Bank Negara fine imposed on 1MDB should be surcharged upon those responsible for its mismanagement and breaches of trust, DAP parliamentary leader Lim Kit Siang said today.

He said the fine imposed on 1MDB, a fully government-owned company, should not be kept secret, since taxpayers deserve to know how much they have to bear.

Lim also asked why the fine is not being charged to those responsible instead.

“Malaysian taxpayers are entitled to know why this Bank Negara fine should not be surcharged to those responsible for the shocking mismanagement and criminal breaches of trust in 1MDB, whether they be the finance minister or the prime minister, by virtue of Article 117 of the memorandum and articles of association of 1MDB, the 1MDB board of directors or the principal officers of 1MDB management,” he said in a statement this morning.

Article 117 is a clause in 1MDB’s memorandum and articles of association that requires all of the company’s financial commitments to be approved by the prime minister.

Following an investigation, the parliamentary Public Accounts Committee (PAC) had recommended that this clause be removed, and the government has pledged to do so.

Lim’s statement is in response to Bank Negara governor Muhammad Ibrahim’s refusal to reveal the quantum of the fine imposed on 1MDB, which was reportedly paid on Wednesday.

The fine was for, among others, 1MDB’s failure to comply with the central bank’s order to repatriate US$1.8 billion (RM7.76 billion) parked overseas.

Black mark on new governor

Muhammad said it is against the central bank’s policy to disclose the sum.

With the payment of the fine, the new chief said this closes Bank Negara’s case against 1MDB, although it would continue to assist in the investigations of other authorities.


Lim said the move is the first black mark against the newly-minted central bank governor, who took office on May 1 after the retirement of his predecessor, Zeti Akhtar Aziz.

Although Bank Negara has refused to disclose the fine, he said, the world already knows that the regulators in Singapore had imposed a S$13.3 million fine on BSI Bank’s branch in the island republic, while Swiss authorities have confiscated 95 million Swiss francs (RM394 million) from the bank in illegal proceeds.

Both authorities have also separately ordered the 143-year-old bank to be shut down.

“Where is Bank Negara’s much touted transparency and accountability, when it refuses to reveal what was the compound fine which had been paid in full by 1MDB for failing to comply with Bank Negara directives issued under the Financial Services Act 2013 which, among others, include a requirement for 1MDB to repatriate US$1.8 billion of its funds remitted abroad following the revocation of the three permissions granted by Bank Negara to 1MDB in 2009, 2010 and 2011?” Lim asked.

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Re: Bank Negara Reserve and BLR
« Reply #28 on: May 28, 2016, 05:51:25 AM »



Malaysia 1MDB Scandal: Central Bank Files Police Report Against Wall Street Journal Over Leaked Document
BY VISHAKHA SONAWANE @VISHAKHANS ON 05/27/16 AT 2:17 AM
Malaysia 1MDB
A man walks past a 1 Malaysia Development Berhad (1MDB) billboard at the funds flagship Tun Razak Exchange development in Kuala Lumpur, March 1, 2015.
PHOTO: REUTERS/OLIVIA HARRIS/FILE PHOTO
UPDATE: 6:27 a.m. EDT — Malaysia’s central bank has lodged a police report against the Wall Street Journal to probe the leak of a confidential document detailing the investigation linked to a Malaysian state-run fund, Prime Minister Najib Razak said Friday.

“They [police] will have to investigate. Publishing confidential documents under OSA [Official Secrets Act] is a very serious action on [their] part,” Najib said. On Thursday, the Journal had reported, citing a letter addressed to Hasan Arifin, the chairman of a parliamentary committee investigating 1Malaysia Development Berhad, that political pressure and lack of transparency influenced the investigation into corruption and money laundering allegations against 1MDB.

Original story:

Malaysian investigation into corruption and money laundering allegations at a state-run fund was marred by political pressure and lack of transparency, the Wall Street Journal reported Thursday, citing documents and people interviewed. Malaysian President Najib Razak, who set up the 1Malaysia Development Berhad (1MDB) fund, had ordered the probe into the allegations in 2015 to the auditor general, the country’s investigative agency.

Possible vital clues related to 1MDB’s activities were not examined and at least one important figure, Najib himself, was not probed, according to the Journal report. Najib had ordered the auditor general’s findings, which are often made public, to be reviewed and deliberated by the Public Accounts Committee, a parliamentary body. However, the agency’s report was concealed from public under Malaysia’s Officials Secrets Act, the Journal reported, adding that the auditor general had given additional information in a presentation to the Public Accounts Committee.

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The auditor general had “specifically confirmed that $7 billion of 1MDB assets and transactions overseas cannot be verified or traced,” Tony Pua, an opposition lawmaker of the committee, said earlier this month. However, according to the Journal, the committee did not mention the $7 billion estimate when it published a report on 1MDB in April saying that an unspecified amount of money was not taken into account.

Hasan Arifin, a ruling-party politician who heads the committee, decided against calling Najib to testify despite the prime minister being a chairman of 1MDB’s board of advisers and the country’s finance minister, the Journal report said. Those involved in the probe had repeatedly asked Hasan to get Najib’s testimony, Pua and two current and former ruling-party politicians on the committee told the newspaper.

“I have to earn a living,” Hasan reportedly said, referring to the decision to drop Najib as a witness. However, he said that the remark was a joke, the Journal reported.

According to Pua and the current ruling-party member, Hasan did not inform the parliamentary committee about evidence from a senior central bank official — submitted in an April 6 letter to Hasan— that $1 billion of 1MDB funds were transferred to an offshore company owned by a close associate of the Malaysian premier. They added that Hasan did not share the information in the letter to the committee, the Journal reported.

Allegations against Najib were first made in a July 2015 report by the Journal, which said that investigators traced transactions from an account at Falcon Private Bank in Singapore to accounts in Malaysia. Najib, who set up 1MDB to boost the country’s economic growth, was linked to the 1MDB corruption scandal after $681 million was found in the premier's personal bank accounts, which he claimed was a political donation by the Saudi Arabian royal family. He allegedly spent about $15 million on luxury items from his personal bank accounts — money that investigators believe came from the indebted fund.

Najib has consistently denied the allegations.

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Re: Bank Negara Reserve and BLR
« Reply #29 on: May 28, 2016, 03:18:43 PM »



In placing OSA on Good Star, Najib skews moral compass
Lim Kit Siang
28 May 2016, PM 12:36 (Updated 28 May 2016, PM 2:18)


 
MP SPEAKS The Prime Minister Najib Abdul Razak himself announced after the Umno supreme council meeting yesterday, that the new Bank Negara governor Muhammad Ibrahim had lodged a police report against The Wall Street Journal (WSJ) under the Official Secrets Act (OSA) for revealing a letter purportedly from Bank Negara to Public Accounts Committee (PAC) chairperson Hasan Ariffin.

Najib did not explain whether the Bank Negara governor had lodged the police report against WSJ on his instructions, but it would be very sad day in the history of Bank Negara Malaysia indeed if the greatest concern of the new BNM governor is not the global investigation and crackdown on 1MDB money-laundering and corruption allegations, but whether WSJ had committed an offence under the OSA.

He has lost the moral compass to be premier when he is not concerned whether Good Star Limited was the genesis of the RM55 billion 1MDB global financial scandal and fraud against Malaysia and 30 million Malaysians, but only whether WSJ had committed an OSA offence in revealing Good Star Limited was in fact owned by Penang billionaire Jho Low.

I was shocked a few days ago when Malaysia gained new international notoriety and the 1MDB financial scandal was described by a leading world news agency, Bloomberg, as one of the “world’s biggest financial scandals”.

I have been a Member of Parliament since 1969, but I have never felt so ashamed as a Malaysian when I read of such a Bloomberg reference four days ago mentioning Malaysia in the same breath as “the world’s biggest financial scandals”.


Where should Malaysians hide their faces?

Shouldn’t Najib, the cabinet and Parliament be mortally ashamed and humiliated for the country to be referred in such a derogatory and contemptible manner, because we have allowed the 1MDB scandal to mushroom in a matter of six years to become one of the “world’s biggest financial scandals”?

What is worse, at least six countries are investigating money laundering and corruption allegations connected with 1MDB, with the Singapore and Swiss authorities already launching a crackdown against institutions and individuals implicated with 1MDB.

Yesterday, for instance, the former wealth manager of troubled Swiss private bank BSI was denied bail by the Singapore High Court and will await his trial in prison for two of the nine charges that are part of the city-state’s investigations into money laundering related to illicit money transfers linked to 1MDB.

The Malaysian government and the Malaysian regulatory authorities, in particular Bank Negara Malaysia, are however blissfully ignorant or unconcerned about the chips about the 1MDB global scandal falling into place as a result of such foreign investigations and crackdowns.

Is Malaysia an integral part of the global society of finance and instant information or have we walled ourselves into a “hermit state” which could ignore international perceptions, opinions and expectations?

The Good Star Limited is a test case whether Malaysia is prepared to be a responsible member of the global community or trying to be a “hermit state” to cut off the country from the international flow of events.

The question whether WSJ has committed an offence under the OSA in revealing a Bank Negara Malaysia letter to the PAC Chairman confirming that Good Star Limited was owned by tycoon Low Taek Jho, better known as Jho Low, must not be allowed to overshadow an even greater public interest issue.

The issue being that the government had lied to Malaysians when it continued to pretend that Good Star Ltd, which has since been dissolved, belonged to former 1MDB joint-venture partner PetroSaudi International when in fact it belonged to Jho Low.

The status of Good Star's ownership is important because it will determine whether 1MDB's funds had been siphoned away or that it was indeed used for investment.

1MDB had sent US$1.83 billion abroad for its joint-venture activities with PetroSaudi but US$1.03 billion of this sum was diverted to Good Star.

The diversion would not be an issue if Good Star was owned by 1MDB's joint-venture partner PetroSaudi, as claimed by the government, but would raise serious concerns if it is owned by individuals or entities unrelated to the joint-venture - in this case, Jho Low, as claimed by WSJ.

If the WSJ revelation is true, that Bank Negara had confirmed that US$1.03 billion (RM4.06 billion) in 1MDB funds had been transferred to an offshore company owned by a close associate of Najib, Jho Low, it would have tallied with the money-laundering and corruption investigations and crackdowns launched by six countries on 1MDB, and why 1MDB had catapulted Malaysia into the stratosphere of corrupt global nations with one of the “world’s biggest financial scandals”.

In these circumstances, Malaysians are entitled to demand a reset of national priorities and that the Najib government should give top priority to render full and satisfactory accountability and responsibility for the 1MDB scandal over all other concerns, including whether WSJ has committed an offence under the OSA.

LIM KIT SIANG is DAP parliamentary leader and MP for Gelang Patah

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Re: Bank Negara Reserve and BLR
« Reply #30 on: June 04, 2016, 06:07:05 AM »



5月PMI顯示內需減緩‧國行減息壓力加重
2016-06-03 19:30     

(吉隆坡3日訊)製造業採購經理指數(PMI)連續第14個月低於50榮枯線,內需疲弱跡象明顯,經濟學家認為,這雖加重國家銀行放寬貨幣政策的壓力,但為免影響資金流動和馬幣走勢,相信國行將繼續靜觀其變。
國行料靜觀其變
Markit昨日公佈,5月日經大馬製造業採購經理指數升至47.2,略高於4月寫下的5個月最低紀錄47.1。
數據顯示,馬幣貶值帶動出口微揚,國內需求卻滑落,造成製造業生產連續第14個月降低,寫下3年半最大跌幅,新訂單更是連跌15個月,跌幅為去年12月以來最大。
肯納格研究指出,最新採購指數顯示消費不振和內需減緩,而4月貨幣供應縮減更進一步加強這種看法,這將加重國行減息壓力。
“值得一提的是,美國聯儲局加息預期升溫,造成大量資金流出國內金融市場。”
不過,肯納格認為,調整隔夜政策利率(OPR)可能引發市場波動劇烈、資金加快流出、影響馬幣走勢等後果,預期國行不會貿然行事。
新國行總裁拿督慕哈末依布拉欣在上月主持的首次議息會議中,維持隔夜政策利率於3.25%。這是國行2014年7月10日升息0.25%以來,連續11次保持相同利率。
肯納格表示,5月採購指數加強他們對於製造業生產上半年不濟的看法,鑒於內需和消費情緒進一步轉弱,製造業全年走勢不太明朗。
“主要經濟體製造業普遍疲弱,顯示全球製造業展望慘淡,短期內仍無改善跡象。”
製造業佔工業生產指數(IPI)三分二比重,國內製造業生產萎靡不堪意味著工業生產指數成長可能進一步減緩,肯納格估計全年成長可能從去年的4.5%縮至4.3%。
製造業展望欠佳,勢必可能拖累全年經濟成長,此外,全球製造業走軟,也可能影響大馬出口貿易。肯納格指出,消費疲弱和全球經濟不明朗,全年經濟成長可能減緩,預期將從去年的5%退至今年的4.5%。( 星洲日報/財經‧報道:王寶欽)




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Re: Bank Negara Reserve and BLR
« Reply #31 on: June 08, 2016, 05:44:08 AM »



MONEY

BNM’s international reserves at RM382.6b as at May 31
Published: June 7, 2016 06:27 PM GMT+8

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BNM said the reserves position was sufficient to finance 8.0 months of retained imports and is 1.2 times the short-term external debt. — Picture by Yusof Mat Isa
BNM said the reserves position was sufficient to finance 8.0 months of retained imports and is 1.2 times the short-term external debt. — Picture by Yusof Mat Isa
KUALA LUMPUR, June 7 — Bank Negara Malaysia’s (BNM) international reserves amounted to RM382.6 billion (equivalent to US$97.3 billion) as at May 31.

In a statement today, BNM said the reserves position was sufficient to finance 8.0 months of retained imports and is 1.2 times the short-term external debt.

The central bank said the main components of the international reserves were foreign currency reserves (US$97.3 billion), International Monetary Fund position (US$89.6 billion), Special Drawing Rights (US$1.1 billion), gold (US$1.5 billion) and other reserve assets (US$4.3 billion).

The assets included Malaysian government papers (RM2.08 billion), deposits with financial institutions (RM1.89 billion), loans and advances (RM7.35 billion) and other assets (RM12.41 billion).

 

Capital and liabilities comprised paid-up capital (RM100 million), reserves (RM102.84 billion), currency in circulation (RM89.95 billion), deposits by financial institutions (RM157.45 billion), federal government deposits (RM13.95 billion), other deposits (RM998.32 million), BNM papers (RM15.39 billion), allocation of SDRs (RM7.37 billion) and other liabilities (RM20.39 billion).  — Bernama

- See more at: http://m.themalaymailonline.com/money/article/bnms-international-reserves-at-rm382.6b-as-at-may-31#sthash.xk28Fgvq.dpuf

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Re: Bank Negara Reserve and BLR
« Reply #32 on: June 09, 2016, 09:34:46 AM »



Highlight
‘Bank Negara may have to cut OPR’
By Meena Lakshana / The Edge Financial Daily   | June 9, 2016 : 8:57 AM MYT   
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[QQ]This year’s global economic growth forecast slashed to 2.4%

 

This article first appeared in The Edge Financial Daily, on June 9, 2016.

 

KUALA LUMPUR: As the global economic outlook turns gloomier, economists opine that Bank Negara Malaysia (BNM) may have to opt for an interest rate cut to stimulate domestic growth.

“While policymakers and economists are hopeful for exports to rebound modestly in the second half of this year, this is not assured and if exports continue to languish in the second half, there is a downside risk to the country’s economic growth this year,” RHB Research’s chief economist Lim Chee Sing told The Edge Financial Daily.

Lim noted that weaker global growth will point to a weak export outlook for Malaysia, citing that the global trade declined 1.7% quarter-on-quarter (q-o-q) in volume and 2.9% q-o-q in value in the first quarter of 2016.

He stressed that weak exports would create a chain effect to the domestic economy, ranging from private investments, employment to wage payments and consumer spending.

“All these will culminate in dampening domestic demand and economic growth over time,” he said.

ForexTime (FXTM) said in a note yesterday that there could be a likelihood that central banks unleash further accommodative monetary policies in a bid to retain stability in view of the International Monetary Fund’s (IMF) and World Bank’s cut to global economic growth.

“Although stock markets displayed a miraculous rebound during trading on Tuesday after the abrupt appreciation in oil prices that elevated global sentiment, the lingering fears over the health of the global economy could force equities to relinquish previous gains as risk aversion intensifies,” FXTM added.

Yesterday, the World Bank cut this year’s global economic growth forecast to 2.4% from the 2.9% projected in January.

The move is due to “stubbornly low commodity prices” and faltering demand in advanced economies at a time when “the horrible combination” of mounting Brexit anxieties, ongoing China woes, and depressed commodity prices have exposed most major nations to downside risks, the World Bank said in a statement.

In April, the IMF cut its global economic growth outlook for this year to 3.2% from 3.4% previously. The Organisation for Economic Cooperation and Development (OECD) had lowered its growth forecast for the combined economy of the 34 OECD countries to 1.8% this year from an earlier projection of 2.2%.

Lim said the revision of all three institutions on the global economic growth for this year points to the fact that world economies are still struggling to sustain growth, which has been sub-par and below trends since the recession of 2008 to 2009, and despite significant policy ease.

BNM has kept overnight policy rate (OPR) at 3.25% — a move to adopt the accommodative monetary policy. The last revision on OPR was in July 2014 when it was raised by 25 basis points.

Lim commented that although Malaysia has grown to be less dependent on exports over time, exports still account for about 73% of the country’s gross domestic product in real terms.

Lim expects the government’s projection of economic growth is likely to register at the lower end of the 4% to 4.5% growth range, with the research firm expecting a 3.9% growth for 2016.

The mitigating factors in Malaysia’s economy, according to Lim, are the continued implementation of sizeable infrastructure-related projects under the Economic Transformation Programme such as the mass rapid transit lines, light rail transit Line 3, the Pan Borneo Highway, and the Pengerang Integrated Petroleum Complex in Johor

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Re: Bank Negara Reserve and BLR
« Reply #33 on: June 09, 2016, 02:13:21 PM »



MONEY

Short-term interbank rates stable
Published: June 9, 2016 10:02 AM GMT+8

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A woman walks pass the headquarters of Bank Negara Malaysia in Kuala Lumpur, March 30, 2015. — Picture by Yusof Mat Isa
A woman walks pass the headquarters of Bank Negara Malaysia in Kuala Lumpur, March 30, 2015. — Picture by Yusof Mat Isa
KUALA LUMPUR, June 9 — Short-term interbank rates are expected to remain stable today with Bank Negara Malaysia (BNM) intervening to absorb surplus liquidity from the financial system.       

The central bank estimated today’s liquidity at RM25.47 billion in the conventional system and RM9.59 billion in Islamic funds.         

BNM will conduct a conventional money market tender comprising RM2 billion for seven days.

The central bank will also conduct a Qard Islamic range maturity auction tender valued at RM4.5 billion for seven days to 21 days.

At 4pm, BNM will conduct an up to RM23 billion in conventional overnight tender and a RM5.1 billion overnight Qard tender. — Bernama

- See more at: http://m.themalaymailonline.com/money/article/short-term-interbank-rates-stable19#sthash.M6EfsScz.dpuf

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Re: Bank Negara Reserve and BLR
« Reply #34 on: June 10, 2016, 07:33:58 AM »



财经  2016年06月09日
安联:大马近期无降息迫切性

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(吉隆坡9日讯)安联保险集团(Allianz)认为,大马並不会在近期內调降隔夜政策利率(OPR),因为没有降息的迫切性,同时,疲软的令吉匯率也侷限了大马的降息空间。

安联保险集团首席经济学家麦可海泽(Michael Heise)预测,大马今年经济將成长4.2%,比去年的5%来得慢。

不过,他认为,基于大马目前的消费者价格指数(CPI,通货膨胀的通用衡量標准)变动率仍处在2%以上,而且信贷成长仍然活跃,家庭债务佔国內生產总值(GDP)高达80%以上,所以国家银行目前並没有降息以刺激经济的迫切性。

此外,麦可海泽补充,令吉匯率仍然疲软,如果国行降息,恐將进一步拉低令吉匯率,不利大马经济。整体而言,他相信,国行並不会为了提振经济,而贸然降息。


常驻德国慕尼黑的麦可海泽,是在前来吉隆坡举办的媒体匯报会上,作如此表示,共同出席者包括在大马安联保险(ALLIANZ,1163,主板金融股)旗下大马安联人寿保险公司首席执行员约瑟格罗斯(Joseph Gross)。

麦可海泽表示,影响大马经济的2大因素,其实是中国经济成长放缓,以及美国联邦储备局(Federal Reserve)的升息事宜。中国经济成长放缓拖累了整个亚洲新兴市场的出口,例如以美元计算,在前年和去年,中国从大马的进口额分別按年萎缩7.2%和4.6%。

无论如何,他相信,中国从大马的进口额將逐渐回升至原有的水平,因为,中国需要时间解决其產能过剩的问题,经济也將逐步企稳。

至于美国升息因素,他相信,只要美国的就业数据没有进一步恶化,美联储有可能在7月的货幣政策会议中议决升息。

反之,如果美国就业数据继续上演如5月般,只有3万8000名新增就业人数,则美联储可能將把升息时机延迟至11月的美国总统大选后。

麦可海泽相信,美联储將做好市场沟通工作,降低美元匯率的波动性。

「(美联储主席)耶伦把市场沟通工作做得很好,一直把重要讯息明確地传达给市场。」

全球经济乐观

另一方面,麦可海泽表示,谨慎乐观地看待全球经济,並预测,今年的全球经济將成长2.4%,与2014年的成长率持平,但比去年的2.7%来得慢。

整体而言,美国和欧洲经济都有好转跡象,而亚洲虽然笼罩中国和日本经济疲软的阴霾下,但也没有进一步恶化。

不过,他对即將在23日举行的英国脱离欧盟公投感到担忧。如果英国通过脱离欧盟,英镑匯率预料將大跌10%至20%,並且由于英国和欧盟有甚多事务將需要重新谈判和安排,例如贸易准入等,预料將导致2年的动盪局面。

对于大马,麦可海泽表示,若英镑匯率大跌,將衝击在英国投资的大马人士,包括英国產业市场的投资者。

此外,若英国脱欧,英国经济料將受到严重衝击,料將影响大马与英国的贸易。

我国去年对英国的出口额达93亿1800万令吉,佔总出口额的1.2%。

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Re: Bank Negara Reserve and BLR
« Reply #35 on: June 16, 2016, 07:23:09 AM »



USD/MYR reference rate promotes best practice for domestic financial market
Posted on 16 June 2016 - 05:38am
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KUALA LUMPUR: Bank Negara Malaysia and the Financial Markets Association of Malaysia (FMA or PPKM1) yesterday announced several changes as part of the effort to adopt global best practices for the domestic financial market.

In a joint statement yesterday, BNM and FMA noted that a new methodology is adopted in the USD/MYR Spot Fixing (PPKM-MYR) based on market transaction data, effective July 18, 2016.

The official closing hour for the onshore ringgit market will also be extended to 6 pm from 5 pm previously, effective July 18, 2016, to give businesses additional time to complete their foreign exchange transactions.

Nevertheless, the onshore market participants can continue to transact after the official closing hour.

BNM Director of Investment Operations and Financial Market Adnan Zaylani said these enhancements to the Malaysian financial market infrastructure are among the first few initiatives discussed at the Financial Market Committee.

The Financial Market Committee is an inclusive forum for all financial market stakeholders to further develop and improve the Malaysian financial markets.

Under the new methodology, the reference rate will be known as Kuala Lumpur USD/MYR Reference Rate. It will be published daily at 3:30 pm and is computed based on weighted average volume of the interbank USD/MYR FX spot rate transacted by domestic financial institutions between 8 am and 3 pm.

FMA President Lee Kok Kwan said the Kuala Lumpur USD/MYR Reference Rate would be based on market transaction data rather than submission of quotations by selected banks in the previous methodology.

The market transaction data is sourced from online reporting by domestic financial institutions to Bank Negara Malaysia.

The Kuala Lumpur USD/MYR Reference Rate will be published under a parallel trial on Reuters page KLMYRREF starting from June 20, 2016 and will be effective only from July 18, 2016.

On the effective date, the Kuala Lumpur USD/MYR Reference Rate will assume the current PPKM-MYR page on MYRFIX02 and 1 Persatuan Pasaran Kewangan Malaysia thereafter. – Bernama

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Re: Bank Negara Reserve and BLR
« Reply #36 on: June 16, 2016, 08:31:34 AM »



财经  2016年06月15日
流动资金足支撑经济 国行料维持SRR OPR

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(吉隆坡15日讯)儘管国內流动资金降低,但经济学家认为,经济成长展望仍温和,国行料不会贸然出手下调法定储备金率(SRR)或隔夜政策利率(OPR),所以SRR和OPR今年將分別维持在3.50%和2.35%水平。

在年初外资逐步回笼大马后,5月份我国重现庞大的外资逃离。该月外资净卖了43亿令吉的股票,购债规模也从4月份的181亿令吉,降低至147亿令吉。

达证券经济学家莎芝玛预测,在美国利率政策举棋不定、英国脱欧课题等全球不確定因素影响下,外资的流动方向將维持高波动,进而左右令吉表现。

年头至今,令吉兑美元升值了5.4%,目前在4.00水平上方徘徊。儘管美国升息机率提高產生负面影响,但油价表现回稳,一定程度上扶持了令吉走势。莎芝玛认为,今年令吉匯率將在3.80-4.20之间波动。


虽然如此,企业和民眾普遍相信美元会继续走强,纷纷保留手上外幣,甚至是兑换令吉为其他货幣。自令吉从2014年9月份进入颓势后,外匯存款以双位数高速成长,曾一度在去年12月抵达55.4%。

今年4月,这个数字隨著令吉反弹,短暂降至15.0%,但5月开始估计会迅速反弹。

有鑑於金融市场波动和经济成长放缓,资金流动率与货幣供应料每况日下。4月份供应稍微成长,但仍无阻大马和其他新兴市场不断面对资金出走的问题。

M3货幣供应跌新低

M3货幣和M1货幣供应按年成长,已下跌至歷史新低的1.5%,以及0.4%负成长。

资金流动率受限,將直接拉低贷款成长。国內贷款对存款比率(LDR)稳定上升,在今年4月增至87.2%,对比2008年4月低谷的72.5%,已来到了临界水平。

基於令吉贬值过快,定存和投资户头提款数额显著增加,导致存款按年下滑1.1%,被录得6.3%成长的贷款远远拋离。

无论如何,莎芝玛认为,当前国內流动资金,仍足以应付实体经济活动所需。3月份流动资金覆盖率(LCR)维持在126%,不但高於目前的最低要求70%,也符合国家银行(BNM)配合《巴塞尔III银行资本条例》,在2019年订下的最低要求100%。

另外,3个月吉隆坡银行同业拆息率(KLIBOR)同样持稳在3.67%水平。目前存放在国家银行的流动资金高达2000亿令吉,减去433亿令吉法定储备金,仍剩下1566亿令吉资金应急,银行业者可在必要时注入市场。基於以上几点,莎芝玛相信,国行会在近期效仿今年2月份或2008年全球金融风暴时,积极调低法定储备金率的可能性微乎其微

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Re: Bank Negara Reserve and BLR
« Reply #37 on: June 22, 2016, 05:47:17 AM »



Tuesday, 21 June 2016 | MYT 6:26 PM
BNM’s international reserves at RM383.2bil as at June 15






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Bank Negara says the reserves position is enough to finance 8.1 months of retained imports. - Reuters pic
Bank Negara says the reserves position is enough to finance 8.1 months of retained imports. - Reuters pic
 
KUALA LUMPUR: Bank Negara Malaysia’s (BNM) international reserves amounted to RM383.2bil (equivalent to US$97.4bil) as at June 15, 2016 from RM382.6bil (equivalent to US$97.3bil) a fortnight ago.


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“The reserves position is sufficient to finance 8.1 months of retained imports and is 1.2 times the short-term external debt,” BNM said in a statement on Tuesday.

The central bank said the main components of the international reserves were foreign currency reserves (US$89.6bil); International Monetary Fund reserves position (US$800mil); Special Drawing Rights (SDRs) (US$1.1bil); gold (US$1.5bil); and, other reserve assets (US$4.4bil).

The assets included Malaysian government papers (RM2.18bil); deposits with financial institutions (RM1.42bil); loans and advances (RM7.39bil); and, other assets (RM11.70bil).

The capital and liabilities comprised paid-up capital (RM100mil); reserves (RM102.68bil); currency in circulation (RM90.38bil); deposits by financial institutions (RM154.05bil); federal government deposits (RM16.41bil); other deposits (RM732.14mil); BNM papers (RM15.10bil); allocation of SDRs (RM7.37bil); and, other liabilities (RM21.20bil). - Bernama

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Re: Bank Negara Reserve and BLR
« Reply #38 on: June 23, 2016, 05:57:11 AM »



流动资金再吃紧
法定储备料维持3.5%
421点看 2016年6月22日

(吉隆坡22日讯)虽然流动资金吃紧的风险重升,但分析员预测,国家银行今年料维持法定储备率(SRR)在3.5%。


达证券分析员表示,外围环境越来越波动,而国内经济仍在进行调整,使到流动资金吃紧的情况再度出现。

“不过,我们依然认为温和的经济展望不代表国行须立刻调低SRR或隔夜政策利率(OPR)。”

随着资金流出在5月增加,扭转在今年初的资金流入,所以市场焦点又放在银行体系的流动资金充足率,引起市场揣测国行进一步调低SRR。

此前,国行在2月降低SRR至3.5%。


外资流出43亿

今年5月,外资是马股的净卖家,资金流出达43亿令吉,而在债券市场的外资流入则在4月达到181亿令吉高水平后,减少至147亿令吉。

分析员表示:“由于美国升息步伐不稳定,以及经济展望不明朗,包括英国脱欧的风险,我们预测接下来的资金流动持续波动。”


存贷比近压力临界点

此外,金融市场动荡和经济增长放缓,导致货币和信贷情况恶化。

虽然4月货币供应增长略为改善,但资金流出大马及其他新兴市场,持续反映出货币情况恶化的现象。

分析员指,市场对流动资金的担忧将会限制贷款增长,因为贷款对存款比例接近资金流动压力的临界点,而可能成为一个问题。

贷款对存款比例(LDR)一直稳定增长,从2008年4月低点的72.5%,在今年4月提高至87.2%,主要因为存款增长恶化,而贷款增长则放缓。

“虽然资金流出和LDR高,但我们认为,国内流动资金依然充足,以及货币情况可扶持实际活动。”


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Re: Bank Negara Reserve and BLR
« Reply #39 on: June 24, 2016, 07:24:51 AM »



Thursday, 23 June 2016 | MYT 5:14 PM
Financial markets well positioned to face any major volatility from Brexit fallout, says BNM






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KUALA LUMPUR: Malaysia's financial markets are well positioned to  face any major volatility over Britain's referendum on its membership in the European Union (EU), Bank Negara Malaysia said.

The central bank said on Thursday the Financial Market Committee, of which it is a member, was monitoring and would remain vigilant to any potential emerging risks and challenges to the domestic financial markets.

BNM said the committee also cautioned the impact and volatility could spill over onto the financial markets.

“It should be emphasised that liquidity in the domestic market remain ample and our financial markets are well positioned to face any major volatility.

“Financial market players stand ready to support the orderly functioning and smooth intermediation in the financial markets,” it said.

The results from the referendum over whether Britain should exit (Brexit) or remain in the EU are expected at between 2pm and 4pm Malaysia time on Friday.

BNM said committee's members would continue to provide the liquidity to the financial markets as required.

It added market players would operating hours early on Friday and trading would be extended to 6pm to facilitate market transactions for all market participants.

The committee comprises of participants/representatives from BNM, financial institutions, corporations, financial service providers and other institutions or stakeholders which has prominent role or participation in the financial markets

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Re: Bank Negara Reserve and BLR
« Reply #40 on: June 24, 2016, 07:40:14 AM »
Looks like remain win ady.....market will up up up!!!!!! :clap: :clap:  :D
malimalimaliongongongnotongchefbutishua thuatong

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Re: Bank Negara Reserve and BLR
« Reply #41 on: June 28, 2016, 08:14:26 PM »



OPR, SRR likely to be cut in July — Maybank IB
 June 28, 2016, Tuesday

 
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BNM still has room to cut the OPR to boost the economy or curtail  short-term capital inflows seeking higher yields.
BNM still has room to cut the OPR to boost the economy or curtail short-term capital inflows seeking higher yields.
KUALA LUMPUR: Maybank Investment Bank Research (Maybank IB) sees a strong likelihood of a cut in the domestic overnight policy rate (OPR)/ statutory reserve requirement (SRR) by Bank Negara Malaysia (BNM) as early as July.

In a note yesterday, Maybank IB said this comes amid the new uncertainties brought on by Brexit and headwinds from its knock-on effect, with global financial markets’ volatility expected to heighten.

“Positively, Malaysian private limited companies’ (PLCs) exposure to the United Kingdom is limited to just a few. We continue to take a defensive stance on equity positioning,” it said.

It added for Malaysian equities, its preference remains for real estate investment trusts (REITs) and construction.

Meanwhile, Kenanga Investment Bank Bhd said Malaysia has the policy flexibility to deal with market volatility and weak global demand.

“BNM still has room to cut the OPR to boost the economy or curtail  short-term capital inflows seeking higher yields.

“We also believe that the government would be able to raise public spending in order to support the economy without the risk of further widening its fiscal deficit given that oil prices have stabilised above US$40 to US$45 per barrel,” it said in a note. — Bernama



Read more: http://www.theborneopost.com/2016/06/28/opr-srr-likely-to-be-cut-in-july-maybank-ib/#ixzz4CsGORJxa

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Re: Bank Negara Reserve and BLR
« Reply #42 on: June 29, 2016, 07:31:28 AM »



Nomura: Malaysia seen to cut interest rates in Q3 amid Brexit
Posted on 29 June 2016 - 05:36am
By Lee Weng Khuen
sunbiz@thesundaily.com
Print
KUALA LUMPUR: Malaysia is expected to see an interest rate cut of 25 basis points by the third quarter of the year in response to rising global risks and to support domestic growth following the exit of the UK from the European Union, according to Nomura Southeast Asia equity strategist Mixo Das.

He also expects the country’s gross domestic product (GDP) growth to slow by 0.4% from 4.3% to 3.9% for 2016 in anticipation of headwinds from the external market.

“With the Brexit, we’re now looking at one rate cut in Malaysia. Our caution is, this is the start of the cutting cycle and is probably just a one-off rate cut to reassure the market that BNM (Bank Negara Malaysia) is constantly monitoring external conditions,” he told a media briefing here yesterday.

Mixo said Brexit has changed the macro outlook, which led to the upgrade on the Malaysian equity market to “overweight” on Monday. The changes are the reduced prospects for developed market growth and policy tightening as well as market uncertainties.

“It increases our expectations for policy easing. We expect all central banks in Asia to cut rates further,” he added.

Domestically, Mixo does not foresee political risks growing, but it will take a long time to rebuild confidence.

Nevertheless, he said if there is an early election, it will be positive for the equity market as the market can expect higher government spending by then.

Commenting on the local stock market, Mixo expects the FBM KLCI to trade range bound, with a support level of 1,600 points. His year-end target is 1,765 points. The FBM KLCI rose 4.52 points or 0.28% to 1634.04 points yesterday.

“Right now, we’re quite bearish in terms of market sentiment, so we think this is reasonably a good buying opportunity. In Malaysia, we see the market is at the bottom of the range and more upside from here,” he said.

Mixo is of the view that there will not be continued outflow in foreign funds, given an easing in monetary policy and better emerging market outlook

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Re: Bank Negara Reserve and BLR
« Reply #43 on: June 30, 2016, 11:49:13 AM »



 2 1 1 4
Brexit may force Bank Negara to cut rates
FMT Reporters | June 30, 2016
Economists predict Brexit will cut into the GDP of the country and companies exposed to the European market will suffer most.
Bank-negara-malaysia-BNMKUALA LUMPUR: Economists expect Malaysia’s gross domestic product to decline further following Brexit.
There is a strong possibility that Bank Negara Malaysia might employ a rate cut to boost the economy, as companies exposed to the European Union face a downside risk, according to a report in the Nikkei Asian Review.
Nomura forecast that Malaysia’s GDP could drop to 3.9% from 4.3% this year due to Brexit (British voters voting to leave the European Union).
“Tentatively, our economists are looking at a 0.3 percentage point downgrade to the Asia, excluding Japan, region’s GDP growth for 2016. Specifically, for Malaysia, we’re looking at a 0.4 percentage point downgrade,” its Vice-President of Asean equity strategy Shubhankar Das was quoted as saying at a media briefing on Tuesday.
He added that Malaysia was largely exposed to the UK market through its exporters.

OCBC Bank economist Wellian Wiranto was quoted by Nikkei Asian Review as saying that if the European economies were affected by the UK’s absence, then Malaysia, which exported as much as 6% to 8% of its GDP to Europe, would find it harder to ride out the “potential secondary effect.”
Nomura also predicted the possibility of an overnight policy rate cut of 25 basis points before year-end.
“With Brexit, our economists are looking at one rate cut for Malaysia but this is not the start of a cutting cycle. It’s probably a one-off rate cut just to reassure the market that [Bank Negara] is constantly monitoring external conditions,” Das said.
The report said that the possibility of a rate cut in Malaysia in the coming months was also echoed by Standard Chartered.
“Brexit reinforces our view that Bank Negara Malaysia may have to cut policy rates in the second half of the year to support slowing growth,” it said in a note addressing the outcome of the Brexit referendum.
In general, the decline in the Malaysian equities market post-Brexit was modest, according to Nomura which had upgraded the country to “overweight” this week. Das, in particular, said that Asian equities may look more attractive due to heightened uncertainty and weaker growth elsewhere.
According to the report companies with exposure to the UK and European countries, such as YTL Power International, Sime Darby, Genting, Malaysia Airports Holdings and IHH Healthcare are expected to see negative impacts in earnings and increased exchange rate risks as well as weaker consumption demand.

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Re: Bank Negara Reserve and BLR
« Reply #44 on: July 01, 2016, 05:54:54 AM »



Thursday, 30 June 2016 | MYT 5:41 PM
Bank Negara: Malaysian markets resilient, orderly after Brexit






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KUALA LUMPUR: The Malaysian markets have been resilient and are continuing to operate in an orderly manner after Britain's decision to exit the European Union during the June 23 referendum, says the  Financial Market Committee.


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Bank Negara Malaysia, which is a member of the committee, said on Thursday there was was smooth intermediation activities among the market participants in Malaysia.

“Key domestic markets including the government bonds, corporate bonds and money markets were stable and the domestic markets continue to have ample liquidity.

“For the Ringgit foreign exchange market, despite higher than usual volatility, liquidity remains supported and financial market participants are able to transact and execute their business without any disruptions,” it said in a statement.

Bank Negara said it would  continue to monitor these developments and work with the Financial Market Committee members, including taking proactive measures, to address any further volatility that could re-emerge from the transition process to ensure orderly functioning of the financial markets

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Re: Bank Negara Reserve and BLR
« Reply #45 on: July 02, 2016, 08:23:19 AM »



5月出口意外跌0.9%
国行降息几率再增
96点看 2016年7月2日
报道:伍咏敏

(吉隆坡1日讯)我国5月出口意外按年萎缩0.9%,经济学家认为,出口表现若持续低迷,国家银行降息的几率将提高。


贸工部公布今日公布5月外贸数据,出口跌0.9%或5.336亿令吉,仅录得599.2亿令吉,按月也跌2.32%,低于市场预测。

路透社早前针对7名经济学家调查,原本预计随着油价回扬,我国5月出口增长步伐稍微加速,可按年增2.6%,表现优于4月的1.6%。

根据文告,5月的制造品出口增2.7%,由电子与电器产品、化学产品、机械等带动;然而,农产品出口却下跌0.2%,因为原棕油和原棕油相关产品出口下滑;矿业出口也大跌32.6%。

艾芬黄氏投行首席经济学家陈秋隆接受《南洋商报》访问时说,5月的出口数据低于市场预测,市场早前估计的增长率介于2%至2.5%,反映了原产品需求放缓,尤其是中国对原棕油的需求走低。

他补充,液化天然气出口也下滑,是拖累矿业出口陷入萎缩的原因。

取决于全球经济增长环境,陈秋隆预计,电子与电器和机械等需求,可能会改善,但英国脱欧公投结果出炉后,全球经济增长动力或消退,若情况持续,将拖累我国下半年的国内生产总值。

外围放缓内需受损

“作为开放经济体,大马直接受到外围需求放缓影响,一旦外围不明朗情况恶化,先是冲击出口业表现,接着就会拖累内需。若内需放缓,经济增长率跌至4%以下,这将提高国行降息的几率。”

不过他强调,目前必须再观察6月的出口数据以及次季国内生产总值表现,才能有更明确的看法。

“5月进出口数据皆趋向负面,显示经济活动正放缓。”

无论如何,陈秋隆暂时相信全球经济增长将维持,大马出口动力可持续,全年经济增长估计介于4.2%至4.3%。


寄望下半年回升

丰隆银行债券与经济研究经理锺艳屏也认为,5月出口数据比预期逊色,次季的整体表现不会有太大的改善,只能寄望下半年。

全年料增4%

不过她补充,基于目前全球经济仍不明朗,相信不会有大幅度的复苏。

锺艳屏原本预期5月出口增长1.5%,目前虽然低于预测,但她暂时不下修全年出口增长低于1%的预测,同时维持全年增长预测为4%。

锺艳屏说,最新数据显示,出口主要还是由制造业支撑,我国经济仍靠制造业,而矿业出口低迷也不出所料,因为油气价格还相当疲弱。

贸易盈余32.6亿

根据贸工部文告,5月进口增3.1%,报566.6亿令吉,按月增8.4%。半制成品进口按年跌0.2%,资本品进口增17.2%,消费品进口扬13.6%。

5月贸易盈余录得32.6亿令吉,自1997年11月,连续第223个月取得贸易盈余。

今年首5个月内,我国贸易盈余增7.5%,达362.5亿令吉,去年同期为337.1亿令吉。

另外,锺艳屏补充,5月半制成品进口按年下跌0.2%,表现低于预测,预示未来几个月出口展望还不明朗。

不过,她说,资本品进口增长表现不俗,有助于未来的投资表现,惟对经济增长帮助不大,仍需由内需推动。


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Re: Bank Negara Reserve and BLR
« Reply #46 on: July 02, 2016, 08:10:46 PM »



Friday, 1 July 2016 | MYT 3:18 PM
Kenanga Research expects Bank Negara to hold on rates this year






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KUALA LUMPUR: Bank Negara will maintain its overnight policy rate (OPR) at 3.25% till year-end, said Kenanga Research.

In a research note on Friday, it said that while the central bank has room to cut interest rates to support the economy it would worsen the already volatile financial market and further weaken the ringgit.

Kenanga said the US Federal Reserve was now expected to resume its rate increase only in December.

"This is likely to trigger a wave of capital outflow out of emerging markets," it said.

It said the recovery in the economy, expected in the second half 2016, will gradually lift money supply and credit conditions.

"On the other hand, we believe monetary conditions might experience higher volatility in the next few months in the case of short-term capital inflows seeking higher yields in the aftermath of 'Britain exit' referendum," it said.

It said with the current trajectory and the modest growth outlook, the average banking system loan growth was projected to slow to 5%-6% this year.

Meanwhile, Affin Hwang Capital has retained its loan growth forecast of 6% for 2016 as it believed that the strength in the domestic economy, with a low unemployment rate of 3.5% (March 2016), coupled with sufficient liquidity in the banking system, will continue to support credit growth this year.

In a research note, Affin Hwang Capital said it will maintain its stance on the banking sector, as the outlook for the sector will gradually improve in the second half this year, given the sound domestic economy.

May was another month of subdued loan growth, it said.

It is reported that business loan grew 4.5% year-on-year and household loan expanded 6.2%. - Bernama

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Re: Bank Negara Reserve and BLR
« Reply #47 on: July 04, 2016, 07:17:05 AM »



2016-07-03 19:50
张启华‧新总裁“减息”任务?
英国脱欧后,确实打乱了全球经济复苏的步伐,世界银行、国际货币基金组织、美联储局乃至各国中行须重新评估局势,原本升息尚存微望的美国联邦储备局,更似乎在升息的热头被浇了一盆冷水……
英国脱欧后,确实打乱了全球经济复苏的步伐,世界银行、国际货币基金组织、美联储局乃至各国中行须重新评估局势,原本升息尚存微望的美国联邦储备局,更似乎在升息的热头被浇了一盆冷水……

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在脱欧公投已过的另一周,著名证券行野村认为新马泰受这波冲击深远,预测大马因而国内生产总值减低0.4%,新加坡减少0.7%,更认为大马可能启动减息25基点。

该行认为,尽管国行一直强调现有3.25%利率可支撑经济,在2016年取得4%至4.5%成长;然而新变数出现,一旦风险成形,国行将迅速减息,以扶持经济在正轨成长。

野村列举的理由包括,大马目前在财政调控没有太多空间,油价走低影响国家收入,另一方面又要维持财赤稳在GDP的3.1%目标。期间大马国营企业将在扩张上承受更大压力。

国家银行在脱欧公布时间的24日,预估对金融市场冲击迅猛,特公布提早和延长金融市场营运时间,以方便交易而让市场应对这波变化,从而减少金融市场之波动与冲击。

脱欧这变化球,之后可能还衍生出更多的变化,单单是一个英国对全球的冲击,已令全球惊吓,全球经济展望因此更蒙上阴影!若欧盟崩乱,冲击更大!

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在英脱欧后,全球最大经济组织的欧盟,又如何去面对失去英国的格局?这次在英国脱欧后,欧盟领导层罕有的“铁了心”,欲令英国加速脱欧,无非是避免引起骨牌效应,筑起延缓意、荷、法等国,步英国后尘脱欧的防线。

恐怖主义方兴未艾,法国巴黎、比利时布鲁塞尔最近接连惨遭恐袭,让欧盟成员国民众惴惴不安,普遍担忧开放国界扩大安全威胁兼造成就业威胁;然而领导与民众不同调,升级的矛盾是否迫使欧盟其他成员有后续行动,仍待进一步观察!

国行的下一次议息会议订于7月13日,下来的议息日期为9月7日,今年最后一个议息日为11月23日。

国行会否在7月13日就启动减息?还是要等候8月12日公布次季GDP,待一切更明朗化后,才在9月7日议息日才有所行动?

这可是新任总裁拿督慕哈末接任后,所面临的第一项功课。或许,他要等候11月11日公布第三季GDP数据,才在11月23日履行首项降息任务?

文章来源:
星洲日报‧投资致富‧投资茶室‧文:张启华‧2016.07.03

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Re: Bank Negara Reserve and BLR
« Reply #48 on: July 04, 2016, 02:18:15 PM »



Short-term rates to remain stable on BNM’s intervention
Published: July 4, 2016 10:02 AM GMT+8

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KUALA LUMPUR, July 4 — Short-term rates are expected to remain stable today on Bank Negara Malaysia’s (BNM) continuous intervention to absorb excess liquidity from the financial system.

The central bank estimated today’s liquidity at RM36.35 billion in the conventional system and RM12.04 billion in Islamic funds.

BNM will conduct a RM8.5 billion range maturity auction tender for four to 31 days and a RM4 billion Qard tender for seven to 21 days.

At 4pm, BNM will conduct up to RM27 billion in conventional overnight tender and a RM8.1 billion overnight Qard. — Bernama

- See more at: http://m.themalaymailonline.com/money/article/short-term-rates-to-remain-stable-on-bnms-intervention8#sthash.PLFXBAuv.dpuf

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Re: Bank Negara Reserve and BLR
« Reply #49 on: July 04, 2016, 06:04:17 PM »



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BNM denies rounding proposal for five sen and below
Bernama | July 4, 2016
Central bank clarifies that Rounding Mechanism is used for the total bill amount and not for every unit of product as previously stated in several news reports.
bank-negara-5-sen

KUALA LUMPUR: Bank Negara Malaysia (BNM) has refuted a news report on a proposal to round off five sen and below and the use of one sen for exact payment.
It also denied that the proposal came from the central bank.
In a statement today, BNM said the Rounding Mechanism was used for the total bill amount and not for every unit of product.
“In the Rounding Mechanism implementation, the total bill amount which ends in one, two, six and seven sen will be reduced to the nearest five sen, while three, four, eight and nine sen will be increased to the nearest five sen,” said Currency Management and Operations Director Johari Mesar.

He said all types of payment made at the payment counter would be subjected to the Rounding Mechanism for cash or non-cash payment.
“Non-cash payment covers cheque payment and electronic payment such as credit card, charge card and debit card,” he added.
The central bank said this statement was issued following several media reports on the Rounding Mechanism issue which were incorrect and confusing the public.
BNM and the Ministry of Domestic Trade, Cooperatives and Consumerism (KPDNKK) had held a meeting to examine the issues raised by consumers through the media recently with regard to the five sen Rounding Mechanism.
It said consumers who found that the mechanism was not adhered to correctly by traders could file an official complaint to KPDNKK via phone: 1-800-886-800 or 03-8000 8000.
Complaints can also be made via the KPDNKK eAduan system at http://eaduan.kpdnkk.gov.my or via facsimile at 03-8882 5762