Taking 1Malaysia abroad
SPEAKERS who are well-versed with the 1Malaysia concept will be sent to Indonesia to enlighten Malaysian students who are “blur” about the idea.
“I agree that a seminar on the 1Malaysia concept should be held here, not just for Malaysians living in Jakarta but also those from other areas,” said Deputy Prime Minister Tan Sri Muhyiddin Yassin yesterday.
“It is obviously important to provide them with the correct facts on the 1Malaysia concept since the feedback from the students showed it is still ‘alien’ to them,” he told newsmen after a meeting with 17 Malaysian student leaders here.
Muhyiddin said such a seminar was important after Malaysians, particularly the students, acknowledged that they were “still blur” about the concept.
“Although they support the concept, they requested that it be explained further,” he added.
In his dialogue with them, the students shared with the Deputy Prime Minister their ideas and grouses.
Muhyiddin, in turn, explained to them the Government’s ini tiatives to ensure Malaysia con tinued to enjoy a strong economy.
He said the Government would send speakers for the seminar, the date of which would be decided later.
Muhyiddin said the student leaders also told him that the Malaysian mainstream media “should not be too pro-Government” in their reporting.
They reasoned that this “insulted their intelligence”.
To that, Muhyiddin advised them to assess reports on online news portals.
“I explained to them that these portals are very clever in spinning stories,” he said.
Drug rings using Facebook
KUALA LUMPUR: Social networking site Facebook is fast becoming a hunting ground for fresh drug mules by international syndicates, the Foreign Ministry claims.
It is alarmed that more varsity-age Malay sian girls using Facebook were being lured by the syndicates’ promises of significant rewards to ferry drugs for them, said Deputy Minister Datuk Richard Riot Jaem.
“Most victims are being befriended through Facebook. It (Facebook) can be a good friend. But it’s also a dangerous friend,” Richard told journalists who paid a courtesy call on him yesterday.
He said the ministry had found that most of the victims were befriended by syndicate members of African origin.
Richard claimed that the syndicate members, after befriending their victims, would offer to pay for their “holidays” overseas, usually to China, Japan and Latin America.
Some would even offer their victims thousands of ringgit in pocket money to spend on the trip.
The victims would also be asked to meet up with a “friend” who would be the tour guide at the destination.
“Nigerians and South Africans were involved in most cases, sad to say,” he claimed.
International survey firm TNS last month reported that Malaysians had the most “friends” on Facebook and spent nine hours daily on average surfing the site of more than 500 million members.
On the ministry’s response to curtail drug-mule recruitment via Facebook, he said it had a weekly programme on RTM to raise awareness among young people.
He also urged the group of 20 local and foreign journalists from the Philippines, Indonesia, Brunei, Uzbekistan and Mongolia under the Malaysian Press Institute’s yearly fellowship programme to raise awareness of Asians being victimised by international drug syndicates.
Richard voiced the ministry’s concern that the drug mule situation was turning “from bad to worse”.
He said 785 of 1,560 Malaysians arrested overseas since 1991 were drug mules of which 149 were women.
Seventy Malaysians have been sentenced to death for trafficking in illicit drugs.
The latest case was 22-year-old Cristina Luke Niju from Sabah – doing her final semester at a polytechnic in Sarawak – who was arrested with 1.4kg of narcotics in Guangzhou, China last month.
Richard also urged Malaysians travelling out of the country not to be taken in by persuasive people requesting help to carry their bags because of “excessive baggage weight”.
PM: Next general election will be D-Day for Barisan
THE next general election, scheduled to be held by mid-2013, will be “Judgment Day” for Barisan Nasional, Datuk Seri Najib Tun Razak said.
Held later or earlier, the Prime Minister said the result of the election would indicate the future survival of the long-serving coalition.
However, he added, the indications now were that the people were responding positively and restoring their faith in Barisan.
“But we cannot take it easy,” he told the Malaysian media here covering the Sixth General Assembly of the International Conference of Asian Political Parties (ICAPP).
“We must work even harder. Barisan has changed. We dare to change and make changes to convince the rakyat that our party is dynamic and sensitive to public needs and wants,” he said.
Earlier, in his keynote address at the assembly, Najib said it was important for long-serving political parties to be attuned to the current needs of the public.
“History has shown that even legendary ruling parties were ousted in elections as they were not attuned to the changing needs with the changing times,” he said, describing the 2008 general election in Malaysia as “a sobering albeit painful wake-up call” for Barisan.
“For the first time in history we (the Barisan) lost five states to the Opposition as well as our two-third majority in Parliament.
“But in the last 18 months, the ruling coalition had undergone significant transformation and the 13 political parties that make up the coalition have made great strides in changing and winning back the hearts of the people,” said Najib, who is also the Barisan chairman.
He reminded the gathering that it was critical for any political party to understand the need to change.
“Do not change for the sake of changing but change to better serve the needs of the stakeholders,” he said, adding that transformation and re-invention were essential in keeping with changing times.
Warning that in-fighting, internal power struggle and complacency could break even formidable parties, Najib said this could lead to the electorate shifting their support to alternative political forces that can serve their needs better.
“The current trend shows there is an overwhelming demand from the masses for inclusion and participation in the political process and in nation-building.
“A political party that understands these new rules of political engagement is the party of the future,” he said.
CIMB ISLAMIC ADVISES LISTING OF ISLAMIC DEVELOPMENT BANK’S USD3.5 BILLION TRUST CERTIFICATE ISSUANCE PROGRAMME ON BURSA MALAYSIA
USD500 Million Tranche Issued Pursuant To The Sukuk Programme Accorded “Emas” Status By Bank Negara Malaysia
Kuala Lumpur, 1 December – CIMB Islamic Today Announced That It Had Advised On The Listing Of Islamic Development Bank (IDB)’s USD3.5 Billion (RM11.0 Billion) Trust Certificate Issuance Programme Or Sukuk Programme On Bursa Malaysia, Marking The First Multilateral Development Bank To List Its Foreign Currency Sukuk Programme On The Exchange. The Sukuk Programme Is A Multi-currency Programme Established By IDB Via A Special Purpose Vehicle, IDB Trust Services Limited, And Is Rated Aaa/AAA/AAA By Moody’s, S&P And Fitch.
The five-year USD500 million tranche issued in October 2010 pursuant to the upsized USD3.5 billion sukuk programme under the Malaysian International Islamic Financial Centre (MIFC) initiative was accorded the “Emas” status by Bank Negara Malaysia. IDB’s USD sukuk issue is listed on the London Stock Exchange and was today also listed on Bursa Malaysia under an Exempt Regime. The proceeds raised will be used for general corporate purposes including financing projects in IDB member countries.
A ceremony was held this morning to commemorate the listing of the sukuk programme and the conferment of the “Emas” status to IDB. It was attended by Tan Sri Dato’ Sri Dr. Zeti Akhtar Aziz, Governor of Bank Negara Malaysia; Tan Sri Zarinah Anwar, Chairman of the Securities Commission Malaysia; His Excellency Dr Ahmed Mohamed Ali, President of IDB; Tun Muhammad Dzaiddin Haji Abdullah, Chairman of Bursa Malaysia; Datuk Dr Syed Muhamad Syed Abdul Kadir, Chairman of CIMB Islamic; and Badlisyah Abdul Ghani, Executive Director and Chief Executive Officer, CIMB Islamic.
“Emas”, a Malay word for gold, symbolises universal value and security. The conferment is given to foreign-currency denominated issuances with a focus to provide greater visibility to the Malaysian market in raising funds by local and foreign corporations.
CIMB Islamic is the adviser for this listing exercise and CIMB acted as a joint lead manager and joint bookrunner for IDB’s USD Emas sukuk issuance.
Datuk Dr Syed in his welcoming note expressed his appreciation to IDB for its confidence in Malaysia and for appointing CIMB Group to lead manage the sukuk issuance. He commented, “The listing of sukuk on Bursa Malaysia is an important step, if not a prerequisite, for any issuer seeking to increase its profile and acceptance among global investors.”
“In choosing to issue its recent sukuk in Malaysia under the MIFC initiative and to list it on Bursa Malaysia, the IDB is clearly acknowledging and endorsing the maturity of the Malaysian Islamic capital market,” added Datuk Dr Syed.
Meanwhile, Dato’ Yusli Mohamed Yusoff, Chief Executive Officer of Bursa Malaysia said, “We welcome this landmark listing of IDB’s sukuk on Bursa Malaysia and this positively reflects upon the Exchange as a preferred destination for sukuk issuance. The listing of IDB’s second sukuk programme on Bursa Malaysia within a short span of six months truly indicates their strong confidence in our Islamic capital market. This certainly enhances Malaysia’s leading position as the global Islamic financial hub whilst demonstrating the benefits that our market can offer.”
With this listing, Bursa Malaysia’s sukuk listings recorded a total of USD 27.6 billion worth of sukuk programmes with 19 sukuk listed by 17 issuers, three of which are foreign issuers.
Earlier in August 2010, IDB had listed its RM1.0 billion sukuk Medium Term Note (MTN) Programme on Bursa Malaysia, marking the first multilateral development bank to list its Ringgit sukuk MTN Programme on the Exchange. The earlier Ringgit sukuk MTN Programme was issued via IDB’s special purpose vehicle, Tadamun Services Berhad and it was IDB‘s inaugural sukuk issued in local currency.
About CIMB Islamic
CIMB Islamic is CIMB Group’s global Islamic banking and finance franchise, anchored by CIMB Islamic Bank Berhad, a licensed bank under Malaysia’s Islamic Banking Act 1983. Both CIMB Bank and CIMB Islamic Bank offer their retail banking services to over 6 million customers on a dual banking platform in 324 branches nationwide.
CIMB Group is Malaysia’s second largest financial services provider and one of Southeast Asia’s leading universal banking groups. It offers consumer banking, investment banking, Islamic banking, asset management and insurance products and services. Headquartered in Kuala Lumpur, its key operations are located in Malaysia, Singapore, Indonesia and Thailand. The Group also has presence in Brunei, Cambodia, Myanmar and Vietnam. Beyond ASEAN, the Group has offices in Hong Kong, Bahrain, London and New York, as well as a 19.99% stake in Bank of Yingkou, China.
CIMB Group operates its business through three main brand entities, CIMB Bank, CIMB Investment Bank and CIMB Islamic. CIMB Group is also the majority shareholder of Bank CIMB Niaga in Indonesia, and the single largest shareholder of CIMB Thai in Thailand.
CIMB Group is listed on Bursa Malaysia via CIMB Group Holdings Berhad (formerly known as Bumiputra-Commerce Holdings Bhd). It has a market capitalisation of approximately RM59.9 billion as at 30 September 2010. The Group has over 37,000 employees located in 12 countries.
AmBank Rewards Two Perodua Alzas in AmBank Super Chargers Challenge
KUALA LUMPUR, 1 December 2010 -
AmBank (M) Berhad will be giving away two Perodua Alza to two lucky winners in the AmBank Super Chargers Challenge contest held in conjunction with the upcoming Kuala Lumpur International Motor Show 2010 (KLIMS’10) where AmBank is the Official Bank and AmBank CARz PrePaid Card is the Official Card.
The KLIMS’10 will be held from 3-12 December at the Putra World Trade Centre, Kuala Lumpur. The AmBank Super Chargers Challenge runs until the end of December 2010 and is open to all AmBank new applicants and existing cardmembers. A minimum spend of RM50 on the AmBank Credit Card/AmIslamic Bank Card-i or AmBank PrePaid Card qualifies cardmembers to participate and earn automatic entries.
“As the Official Bank, we are delighted to present to two of our luckiest customers with a Perodua Alza each. This contest which is held in conjunction with KLIMS, allows us to reward our customers, many of whom are motorists with prizes that truly bring value” said Datuk Mohamed Azmi Mahmood, Managing Director, Retail Banking, AmBank (M) Berhad.
“Customers will love this contest as it is very simple with no entry forms, no slogans and no questions. Anyone can enter and it is open to all AmBank customers. For those who have yet to sign up as an AmBank customer, just sign up for any of our products on offer and you will immediately put yourself in the running to win a Perodua Alza,” he added.
To enter, one can also apply for a hire purchase loan and once approved, you will get 20 entries immediately. Opening Current or Savings account with a minimum deposit of RM100 will also automatically put you in the running to win the car. And for those who wish to place their money in Fixed Deposits (FD), you will not only get good rates but will also stand a chance to win the Perodua Alza. For FD depositors of RM50,000 and above, you will receive a special gift as a bonus.
Winners will be determined via a random selection based on their total number of entries for the day. And when winners are contacted, all they have to do is answer a simple question. It’s that easy – no slogan, no contest, no gimmick.
In addition to the contest, AmBank cardmembers also enjoy a 10% discount on the first 200 tickets purchased daily at KLIMS’ 10 and also on-the-spot redemption at participating exhibitors using AmBonus or CARz points. Members will also be rewarded with free gifts when they spend a minimum of RM300 within the same day during the event.
About AmBank (M) Berhad
AmBank (M) Berhad, part of the AmBank Group, is a one-stop financial hub which provides a full range of retail and business banking products and services. Driven by innovation and a commitment to top customer service, the Group recently entered into a strategic partnership with the Australia & New Zealand Banking Group Limited (ANZ), one of Australia’s leading banks. AmBank Group is now poised to take advantage of ANZ’s wide network, regional presence as well as its international banking expertise. For more information, please visit www.ambankgroup.com.
PIC Beckons Tourists To Perhentian Island
KUALA TERENGGANU, Dec 1 – Crystal-clear seas apart from enchanting environment are among the attractions that draw some 2,000 tourists daily to Pulau Perhentian and its fringing islands.
This writer, who visited the island for the first time, was equally captivated by the peace and tranquility offered by this tropical island in the South China Sea.
The move by the Terengganu government and Tourism Ministry in conserving the island’s biodiversity and that of its fringe islands like Redang and Kapas, has resulted in the encouraging number of tourist arrivals.
With only RM70 for a return trip, tourists can board boats from the Kuala Besut jetty to get to Pulau Perhentian Besar or Pulau Perhentian Kecil located some 20 km from the Terengganu coast.
PERHENTIAN ISLAND CHALLENGE 2010
Apart from the natural attractions, the other tourist draw to the island is the Perhentian Island Challenge (PIC) which is a joint effort by the government and private sector. PIC is an event staged to draw tourists particularly water sports enthusiasts to Pulau Perhentian.
PIC began as a team championship in 2004, drawing 103 participants. PIC staged its seventh edition last October.
Some 300 contestants from Malaysia and 11 foreign nations like Kenya, Switzerland and Mexico took part in this year’s championship that had two categories – elite and novice.
Contestants in the elite category were required to run across the beach and hills for 20km including one kilometre swim from Pulau Perhentian Kecil to Pulau Perhentian Besar.
For those in the novice category, they need to run 13 km apart from climbing hundreds of steps to the windmill hill at Pulau Perhentian Besar.
MORE CHALLENGING
The winner in this year’s elite category is Heidilee Muhammad, 27.
Heidilee, not a new face in the championship, said the race this year was more challenging and tougher.
“This year it was more challenging as the route was longer, furthermore we had to swim …the foreign competitors were also great,” the Sabah-born competitor told Bernama.
The locals were familiar with Heidilee or ‘Dino’. His team had won the championship for four consecutive years from 2004 to 2007 before PIC was changed into an individual championship in 2008.
When asked the reason why he came back to the championship without fail, the Royal Malaysia Navy man said: “It is peaceful here, good for vacation…can forget about problems in the city.”
Heidilee won the challenge in three hours and 30 minutes. He also won the overall PIC’s champion crown and pocketed RM7,000 cash.
Meanwhile PIC director Rob Stott said the objective of making the event more challenging this year was achieved when many contestants had to drop out midway through the championship particularly during the swimming part.
“Out of 10 women who participated in the elite category, only three continued the race, seven of them dropped out during the swimming event. Ten of the men in the elite category also dropped out during the swim.
“It’s the reflection of people’s ability, we did not make any selection and the task was more than they anticipated,” he said.
Stott said PIC’s degree of challenges would be increased from year to year in the effort to draw those who like endurance sports and tough challenges.
“For a fact, we know they are those who do not come because they think PIC is too easy for them,” he said.
BOON FOR LOCALS
PIC is always a boon for locals as this is the time where they could expect ‘a windfall’.
Villager Shafie Zaki, 33, of Kampung Perhentian, said the PIC enabled the locals to earn some extra money before the monsoon season in October until January.
“This is the time where the villagers can set up food stalls and provide boats for rents for the visitors,” he said.
Mohd Ali’s Dream For A Green Melaka
MELAKA, Dec 1 – After being declared as a developed state on October 20, Melaka’s Chief Minister Datuk Seri Mohd Ali Rustam revealed his vision of seeing Melaka emerging as the “Green State” by 2020.
In revealing further his green drive to Bernama, Melaka’s far sighted chief minister not only divulged his goals of going green within one decade but also highlighted the green initiatives that are already underway.
Mohd Ali hopes to see the initiatives bearing results within as early as two years, and the state government’s resolve and commitment on the “Go Green” drive is best illustrated by the light green theme for the state’s official functions.
During an interview, Mohd Ali envisioned that the “Go Green” drive would change Melaka through five transformational efforts within two years.
TAPPING THE SOLAR AND WIND ENERGY
“I want to see the utilisation of the solar energy, in the nations developing green technology that I visited the solar and wind energy seem to be the main resource that they are utilising,” he said.
Thus it is no surprise that Mohd Ali’s first and second transformation initiative revolves around solar and wind energy respectively with the first initiative being the harvesting of solar energy in big scale.
Mohd Ali is confident that within two years, Melaka could emerge with a “solar farm” with hundreds of solar panels set up to generate electricity.
“By then Melaka should be able to generate enough electricity for its people and the access supplied to other states through Tenaga Nasional’s grid, this will generate revenue to the state,” he said.
The second transformation aspect involves the harvesting of wind energy to generate electricity in the state.
The state government is looking into the possibility of setting up windmills to generate electricity in Pulau Besar, one of the destinations being developed into another tourist attraction in Melaka.
“However, the location for the windmill and solar panels will depend on the feasibility study,” he said.
With the use of renewable energy like solar and wind, long term cost involved in generating electricity can be reduced up to 30 per cent.
GREEN TECHNOLOGY IN OUR DAILY LIVES
The third transformation that Mohd Ali indicated is encouraging people to use the green technology in their daily lives, in making life easier and comfortable.
The chief minister pointed out this transformation is already taking place now with more and more houses in the state having solar panels to generate electricity or heat.
“But I want to see every house in Melaka using solar panels within two years, I also want to see traditional houses in the state having the same on the roofs like the one that we are trying to do at the Hang Tuah village,” he said.
The Hang Tuah village in Duyong here is where the Malay warrior Hang Tuah is said to have originated and the green technology can be utilised to attract more visitors to Melaka.
The fourth transformation involves transportation in Melaka with the green technology or the hybrid vehicles dominating the roads.
“Melaka has started to move in this direction with the monorail service along Sungai Melaka is among them, and some traditional transport modes like the rickshaw already having solar panels,” he said.
GREEN POWER A NEW BUSINESS
The fifth transformation, is to create more entrepreneurs in manufacturing, developing and commercialising green technology in the state.
The solar valley project in Rembia, Alor Gajah is the pioneer in this effort with Sunpower (M) Sdn Bhd being the first company with a solar panel production facility worth RM2.5 billion on 144 hectares of land.
“When Sunpower starts manufacturing (solar panels), I want to see local companies buying this solar panels and provide solar panel installation services at homes, and if there are those who can develop the solar farms, it’s better still,” he said.
According to Mohd Ali the opportunities to emerge as green technology entrepreneurs in the state are wide open and the entrepreneurs should be quick to grab the opportunities and do not wait for things to be handed on a silver platter.
Ending the conversation with the writer, Mohd Ali with wide grin noted “my vision to develop Melaka with green technology goes beyond all this and I need the whole hearted support in transforming this vision into reality,” he said.
Grim Outlook For Global Local Economy In 2011: UN Report
The annual UN report titled the “World Economic Situation and Prospects 2011 (WESP)” pointed to high unemployment rates, fiscal tightening and the risk of global currency wars as the primary threats to global economic recovery.
The full report will be released in 2011.
According to UN expectations, the world economy will expand by 3.1 percent in 2011 and 3.5 percent in 2012 — well below the figures needed to recover the jobs lost during the economic crisis.
Speaking to reporters, Rob Vos, director of the development policy and analysis division of the UN Department of Economic and Social Affairs (DESA) said: “We are not out of the woods yet and greater risks are looming.”
Recent tensions over currency and trade, a weakening dollar, and exchange rate volatility have all contributed to an uncertain forecast for 2011 and 2012.
“We foresee many downside risks in the next two years,” said Vos, adding that some countries have already begun to enact defensive monetary measures to keep capital flowing into their economies.
“There is still much more finger pointing than concrete policies, said Vos.
As the major economies of Europe, Japan and the United States continue to pursue uncoordinated monetary policies, turbulence and uncertainty in global financial markets will persist.
“Failure to arrive at more coordinated policy responses aimed at a more benign global rebalancing will put the process of economic recovery and the stability of financial markets at further risk,” the report said.
Meanwhile, the WESP report highlights high unemployment worldwide as the Achilles heel for the recovery.
The global economy will need to generate around 22 million new jobs in order to get to pre-crisis employment levels, said Vos.
Furthermore, he said that in order to avoid further stagnation in the global economic recovery and a “double dip recession,” world leaders will need to confront major policy challenges.
The report outlines five major challenges facing policy makers, including: providing additional fiscal stimulus, redesigning policies geared towards job growth, finding greater synergy between fiscal and monetary stimulus, ensuring the availability of development finance, and coordinating policies among major economies.
Such challenges are monumental, particularly in an atmosphere where fears of additional stimulus run high as it would add to the deficits of major countries.
“However, what we are most worried about Is that without further stimulus the recovery will further slow down.”
BP Oil Spill The Top Search On Yahoo In 2010
The disaster incident grabbed the number one (No.1) spot on Yahoo’s newly-announced top 10 search list for the past year, which Yahoo said is a barometer for worldwide consumer interest.
“People turned to the Web to watch the live feed of the oil leak, search for answers to the spill’s impact, and get other relevant details,” Yahoo said in a press release on its ranking of this year’s most popular search queries.
“In 2010 consumers watched the BP disaster unfold like a slow- motion horror film,” the press release quoted Web trend analyst Vera Chan as saying.
While, World Cup ranked No. 2 on Yahoo’s search list, and Yahoo noted that search trends showed excitement around the players and teams throughout the FIFA World Cup tournament held this summer in South Africa.
Pop culture celebrities and topics made up most of the rest of the top 10 list, which was as follows: Miley Cyrus; Kim Kardashian; Lady Gaga; iPhone; Megan Fox; Justin Bieber; American Idol; Britney Spears.
“This year, online activity on Yahoo was dominated by the public’s transfixion with the BP oil spill, pop culture’s leading ladies, gadgets starting with ‘I,’ and a newfound fascination with soccer,” Yahoo summarised in the press release.
King Officially Flags Off Monsoon Cup
His Royal Highness, accompanied by Youth and Sports Minister Datuk Ahmad Shabery Cheek and Terengganu Menteri Besar Datuk Seri Ahmad Said, opened the prestigious event at 3pm.
The sixth edition of the Monsoon Cup will see 12 world class teams, namely French Match Racing from France, Team Origin (Britain), Team Gac Pindar (Britain), Black Match Racing (New Zealand), Mirsky Racing Team (Australia), Gaastra Racing Team (Denmark), Team Azzura (France), Hansen Global Team (Sweden), Black Swan Racing (Australia), Yanmar Racing (Australia), Waka Racing Team (New Zealand) and Koo Racing Team-Evernew (Malaysia) set sail.
The event which started Wednesday will go on until Dec 5.
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