5 Rabiulawal 1434
KUALA LUMPUR, Jan 16 , 2013- The ringgit is anticipated to move between RM2.95 and RM3.15 to the US dollar in 2013, in line with Malaysia's potential economic growth for the year.
MIDF Amanah Investment Bank Bhd Chief Economist Anthony Dass said the ringgit is expected to average 3.05 against the US dollar for the year, as economic growth is likely to expand to 5.8 per cent compared to 5.3 per cent in 2012.
He added that the overnight policy rate (OPR) is also likely to remain stable this year.
"The Yen is expected to weaken further in view of the recent stimulus measures taken by the Japanese government," he told Bernama.
The Japanese government has unveiled a 10.3 trillion yen stimulus package that will lift its gross domestic product by two per cent and create 600,000 new jobs.
Currency movements are determined by several elements, including economic and political developments.
Meanwhile, Malaysian Rating Corporation Bhd Chief Economist Nor Zahidi Alias said the ringgit would likely hover between RM2.95 and RM3.15 against the US dollar in 2013, on the assumption that political stability reigns throughout the year.
However, Nor Zahidi did not discount the possibility of the ringgit moving in a wider range to the greenback, should market sentiment turn volatile before or after the general election.
"Under such circumstances, the ringgit's downside risk may be more than our base case scenario of RM3.15 against the US dollar," he said.
On the domestic front, Nor Zahidi said several factors would likely determine the ringgit's movement to the US dollar.
"These include growth momentum and the sustainability of the current account surplus, as well as the trend in the fiscal deficit, which would be closely monitored by international investors," he added.
More information: BERNAMA
Wednesday, January 16, 2013
Friday, December 28, 2012
RHB Islamic To Boost Domestic Operations
15 Safar 1434
KUALA LUMPUR, Dec 28 ,2012- RHB Islamic Bank Bhd aims to strengthen its domestic operations by opening two more branches in 2013, said managing director Abdul Rani Lebai Jaafar.
Currently, RHB Islamic has 14 branches nationwide.
He said the expansion plan was in line with the bank's strategy to expand operational footprint not only in the region but also in the international stage.
"We will continue to diligently focus on strengthening our capability and capacity building. We will also bolster our syariah governance as well as review technology infrastructure requirements," he told Bernama today.
More information: BERNAMA
KUALA LUMPUR, Dec 28 ,2012- RHB Islamic Bank Bhd aims to strengthen its domestic operations by opening two more branches in 2013, said managing director Abdul Rani Lebai Jaafar.
Currently, RHB Islamic has 14 branches nationwide.
He said the expansion plan was in line with the bank's strategy to expand operational footprint not only in the region but also in the international stage.
"We will continue to diligently focus on strengthening our capability and capacity building. We will also bolster our syariah governance as well as review technology infrastructure requirements," he told Bernama today.
More information: BERNAMA
Monday, December 17, 2012
Cost Of Maid Recruitment Set To Increase Further
4 Safar 1434
KUALA LUMPUR, Dec 18 ,2012- The cost of recruiting Indonesian maids incurred by employers will increase further compared to the amount agreed upon in the memorandum of understanding (MoU) signed between the Malaysian and Indonesian governments in 2011.
Malaysia National Association of Employment Agencies (PIKAP) president, Datuk Raja Zulkepley Dahalan said the increase was necessary as the cost agreed upon earlier could not be implemented as it only involved the cost incurred by both employers and maids only.
"The cost structure agreed earlier was RM4,511 as payment for the recruitment of an Indonesian maid by the employer to the agency including the RM1,800 payment for the maid's advance by the employer to the employment agency.
More information: BERNAMA
KUALA LUMPUR, Dec 18 ,2012- The cost of recruiting Indonesian maids incurred by employers will increase further compared to the amount agreed upon in the memorandum of understanding (MoU) signed between the Malaysian and Indonesian governments in 2011.
Malaysia National Association of Employment Agencies (PIKAP) president, Datuk Raja Zulkepley Dahalan said the increase was necessary as the cost agreed upon earlier could not be implemented as it only involved the cost incurred by both employers and maids only.
"The cost structure agreed earlier was RM4,511 as payment for the recruitment of an Indonesian maid by the employer to the agency including the RM1,800 payment for the maid's advance by the employer to the employment agency.
More information: BERNAMA
Wednesday, November 21, 2012
Malaysia To Be Samsung's Largest Operations Base Outside Korea
8 Muharram 1434
KUALA LUMPUR, Nov 21 , 2012- Samsung Korea is planning on making Malaysia its largest operations base outside of Korea by 2015.
Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said he had been informed by Samsung Korea's President, Datuk Park Sang Jin, that the move was being made in view of Malaysia's good industrial ecosystem including political stability, skilled local human resources and an economy that constantly paid attention to activities of high value addition.
These factors have contributed to stable business operations cost in the country.
More information: BERNAMA
KUALA LUMPUR, Nov 21 , 2012- Samsung Korea is planning on making Malaysia its largest operations base outside of Korea by 2015.
Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said he had been informed by Samsung Korea's President, Datuk Park Sang Jin, that the move was being made in view of Malaysia's good industrial ecosystem including political stability, skilled local human resources and an economy that constantly paid attention to activities of high value addition.
These factors have contributed to stable business operations cost in the country.
More information: BERNAMA
Wednesday, October 31, 2012
Asean Development Gaps Should Be Critically Addressed
16 Zulhijjah 1433
KUALA LUMPUR, October 30, 2012- The Initiative for Asean Integration Development Cooperation Forum (IDCF), held yesterday in Jakarta, discussed initiatives for Asean integration and ways to address development gaps or disparities among Asean members nations.
As outlined in its 2009-2015 work plan, the Initiative for Asean Integration (IAI) is a tool to help narrow the development gaps in Asean by helping newer member states implement their commitments to building the Asean Community and ensuring that benefits of Asean integration are equitably shared, a statement said.
More information: BERNAMA
As outlined in its 2009-2015 work plan, the Initiative for Asean Integration (IAI) is a tool to help narrow the development gaps in Asean by helping newer member states implement their commitments to building the Asean Community and ensuring that benefits of Asean integration are equitably shared, a statement said.
More information: BERNAMA
Sunday, October 28, 2012
iPhone 5 Expected To Be Launched In China This December
13 Zulhijjah 1433
BEIJING, Oct 27, 2012- Apple's iPhone 5 is expected to be launched in China this December, its Chief Executive Officer Tim Cook revealed in the company's quarterly financial report.
China has been one of the significant markets for Apple to tap into, as its revenue from July to September grew 26 per cent year-on-year, with sales hitting US$5.7 billion, the China Daily here reported.
More information: BERNAMA
BEIJING, Oct 27, 2012- Apple's iPhone 5 is expected to be launched in China this December, its Chief Executive Officer Tim Cook revealed in the company's quarterly financial report.
China has been one of the significant markets for Apple to tap into, as its revenue from July to September grew 26 per cent year-on-year, with sales hitting US$5.7 billion, the China Daily here reported.
More information: BERNAMA
Encouraging Response For MAS Promotions
13 Zulhijjah 1433
KUALA LUMPUR, October 28, 2012-Malaysia Airlines' promotions under the banner of '40 Years of Amazing Journeys Together', which began on Oct 22, has received encouraging response with the Peninsular Malaysia-East Malaysia routes the most sought after for domestic travel.
In a statement, the airline said that around 72 per cent of domestic travel bookings snapped up by customers were for travel between Kuala Lumpur and Kota Kinabalu, Kuching, Miri, Sandakan, Tawau, Bintulu and Sibu.
It said that 27 per cent of international tickets purchased were for return travel to Beijing and Shanghai (starting at RM1,279 for economy class) as well as Hong Kong and Taipei at starting fares of RM879 and RM1,159 respectively.
More information: BERNAMA
KUALA LUMPUR, October 28, 2012-Malaysia Airlines' promotions under the banner of '40 Years of Amazing Journeys Together', which began on Oct 22, has received encouraging response with the Peninsular Malaysia-East Malaysia routes the most sought after for domestic travel.
In a statement, the airline said that around 72 per cent of domestic travel bookings snapped up by customers were for travel between Kuala Lumpur and Kota Kinabalu, Kuching, Miri, Sandakan, Tawau, Bintulu and Sibu.
It said that 27 per cent of international tickets purchased were for return travel to Beijing and Shanghai (starting at RM1,279 for economy class) as well as Hong Kong and Taipei at starting fares of RM879 and RM1,159 respectively.
More information: BERNAMA
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