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Tuesday 31 December 2013

Malaysia Risk Tops Philippines on Najib Budget Gap

Somehow, reading this article from Bloomberg entitled Malaysia Risk Tops Philippines on Najib Budget Gap (Clickable link) makes me feel and think that it´s gonna be more than just a tough start for Malaysians in 2014. I am not a Finance student nor do I understand much about those fancy numbers, but what I am reading... just doesn´t sound very good.

Malaysia Risk Tops Philippines on Najib Budget Gap

Photographer: Goh Seng Chong/Bloomberg
Najib Razak, Malaysia's prime minister, is facing rising debt levels as he seeks to... Read More
Malaysia’s default risk climbed above that of the Philippines for the first time as Prime Minister Najib Razak seeks to avoid a debt-rating cut, while his counterpart pitches for upgrades.
Contracts insuring Malaysian bonds against non-payment rose 63 basis points this year to 141, compared with an advance of 33 to 139 for its lower-rated neighbor, according to data provider CMA. Malaysia’s 10-year ringgit yield jumped 44 basis points to 3.92 percent, 16 basis points higher than the rate on similar-maturity Philippine notes, data compiled by Bloomberg show.
Najib announced fuel price increases on Sept. 2 for the first time since 2010 to curb subsidies that have strained the budget, after Fitch Ratings cut its outlook on the nation’s A-rating to negative from stable on July 30. Philippine President Benigno Aquino is the only contender in Southeast Asia for an upgrade as Moody’s Investors Service placed its Ba1 ranking on review July 25, signaling an increase to investment grade.
“Malaysia’s creditworthiness is deteriorating and the country needs to address its fiscal and structural problems,” Nicholas Spiro, London-based managing director of Spiro Sovereign Strategy and a former consultant at Medley Global Advisors LLC, said in a Sept. 3 interview. “The Philippines is a lower investment-grade credit whose strengths have become more apparent.”
Photographer: Sanjit Das/Bloomberg
A man waits to cross a street outside the Petronas Twin Towers (KLCC) in Kuala Lumpur.... Read More

Rising Debt

The premium investors pay on Malaysia five-year credit-default swaps over those of the Philippines reached 10 basis points on Aug. 23, the most in CMA data going back to 2004. The cost was lower as recently as three weeks ago. The Philippines won investment-grade status this year from Fitch and Standard & Poor’s after cutting its budget deficit.
Malaysian government notes handed investors a 0.3 percent return in 2013, compared with 7 percent for the Philippines, the best performance among Southeast Asia’s five-biggest economies, according to indexes compiled by HSBC Holdings Plc.
Najib is facing rising debt levels as he seeks to attain developed-nation status by 2020, in addition to slowing economic growth and a shrinking current-account surplus. Fitch cited the country’s indebtedness and lack of budgetary reform for the rating outlook cut in July, saying Malaysia risks a downgrade in 18 months to 24 months unless it improves the fiscal position.

‘Warning Messages’

The prime minister is aiming to lower the budget deficit relative to gross domestic product to 4 percent in 2013, double President Aquino’s goal, while Malaysia’s debt-to-GDP ratio is 53.3 percent, compared with 51.5 percent in the Philippines.
“I am more bullish on the Philippines,” Sacha Tihanyi, a Scotiabank strategist in Hong Kong, said in a Sept. 4 interview. “The ratings agencies have been sending warning messages implying that without fiscal consolidation, Malaysia may be on the road to a ratings downgrade.”
Najib seems to be heeding those warnings with his decision to raise fuel prices, which drew a positive response from bond investors. The yield on Malaysia’s 3.48 percent ringgit-denominated notes maturing March 2023 fell 12 basis points, or 0.12 percentage point, to 3.97 percent this week, according to data compiled by Bloomberg.
He announced plans on Sept. 2 to bolster the nation’s finances that included a delay in some state-building projects that have high import contents in an effort to stem the current-account shrinkage. Strengthening the fiscal deficit position is vital to sustaining the economy’s resilience and enhancing public and investor confidence, he said, helping halt a selloff in 10-year debt over the past two weeks.

‘Bit Overblown’

An improvement in fiscal balances should drive the 10-year yield lower, Morgan Stanley said in a Sept. 3 report written by a team led by Rashique Rahman, co-head of global emerging-currency strategy in New York. The bank recommends clients bet on a narrowing gap between two- and 10-year yields.
The spread widened 29 basis points this quarter to 70 basis points, compared with a narrowing of 42 to 63 for the Philippines, according to data compiled by Bloomberg.
“Fiscal worries about Malaysia are a bit overblown,” Saktiandi Supaat, the Singapore-based head of foreign-exchange research at Malayan Banking Bhd. (MAY), the nation’s largest lender, said in a Sept. 3 interview. Still, he added, “Najib needs to really do something on fiscal reforms in addition to what he’s done Sept. 2.”
The leaders of Malaysia and the Philippines are both having to contend with capital outflows from emerging-markets amid signals from the Federal Reserve that it may pare monetary stimulus, sending many Asian currencies lower.

Currency Slump

Malaysia’s ringgit weakened 4.8 percent this quarter, more than the 3.1 percent loss in the Philippine peso, data compiled by Bloomberg show. Indonesia’s rupiah dropped 11.2 percent, the Thai baht 4.2 percent and Singapore’s dollar 1 percent.
International investors have pulled about $44 billion from emerging-market stock and bond funds since the end of May, EPFR Global, the Cambridge, Massachusetts-based research company, reported Aug. 23.
Malaysia is more vulnerable to capital outflows than some of its regional peers, partly due to its high reliance on foreign ownership of debt and the deterioration in the current account, according to Credit Suisse Group AG. The ringgit faces the most pressure among Asian currencies after theIndian rupee and Indonesia’s rupiah, Santitarn Sathirathai, Singapore-based economist at Credit Suisse, wrote in a research note Aug. 20.
Global funds held 28 percent of Malaysian government securities at the end of July, central bank data show. That compared with August readings in Indonesia and Thailand of 31 percent and 7.8 percent, respectively. Similar figures for the Philippines aren’t available.

‘Right Direction’

Foreigners cut holdings of Malaysia’s sovereign and corporate bonds by 13 billion ringgit ($3.9 billion) in July, the most since September 2011, to 215.9 billion ringgit, according to the latest central bank data.
Malaysia’s budget deficit is likely to be higher than the official forecast of 4 percent in 2013 even after the cut in fuel subsidies, according to Moody’s. Without additional reforms, the government’s fiscal targets are “increasingly out of reach,” analysts Christian de Guzman and Bart Oosterveld wrote in an e-mailed report on Sept. 4.
Investors were selling “weaker fundamental” countries like India and Indonesia and now that’s spreading to Malaysia and Thailand, Wee-Ming Ting, the Singapore-based head of Asian fixed income at Pictet Asset Management, which oversees $24.3 billion in emerging-market bonds globally, said in a Sept. 4 interview.
“That’s why we see suddenly the underperformance in Malaysian assets in the CDS,” Ting said. “The reduction in the subsidy is the right direction overall.”
To contact the reporters on this story: Yumi Teso in Bangkok at yteso1@bloomberg.net; Liau Y-Sing in Kuala Lumpur at yliau@bloomberg.net; Lilian Karunungan in Singapore atlkarunungan@bloomberg.net
To contact the editor responsible for this story: James Regan at jregan19@bloomberg.net

On New Year’s Eve, thousands march to protest price hikes but Putrajaya still in BN’s hands

As I was browsing around, waiting for time to pass, so that we can wake our girl to watch the fireworks with us from the comfort of our apartment, I spotted this interesting article, about what most Malaysians are doing for their New Year´s Eve. The article from Malaysian Insider entitled On New Year´s Eve, thousands march to protest price hikes but Putrajaya still in BN's hands (clickable link) brought me to attention. Reading it, it´s sad to see how things are turning out still in Malaysia and the government is still turning a deaf ear to the pleas of the country´s people. 

Nevertheless, I do hope you all have a wonderful New Year´s celebration and happy reading

*Cheers*

MALAYSIA   

On New Year’s Eve, thousands march to protest price hikes but Putrajaya still in BN’s hands

BY LEE SHI-IAN & MUZLIZA MUSTAFA
DECEMBER 31, 2013
Protestors against the recent profusion of price hikes marching towards Dataran Merdeka. - The Malaysian Insider pic by Muzliza Mustafa, December 31, 2013.  Protestors against the recent profusion of price hikes marching towards Dataran Merdeka. - The Malaysian Insider pic by Muzliza Mustafa, December 31, 2013.Thousands defied Putrajaya and rallied at Dataran Merdeka tonight against the rising cost of goods and services, as police looked on after warning for days earlier it was a gathering to topple the ruling coalition.
The boisterous crowd which had streamed to the fringe of the square from Jalan Tuanku Abdul Rahman, Masjid India and Central Market was largely peaceful, but several lines of police officers stood between them and revellers who had gathered in the square for the national new year's eve countdown celebration.
"Inside is for those who want to celebrate New Year's Eve. If you want to protest, you may do so on the other side," said Dang Wangi OCPD Zainulddin Ahmad.
However, police, just after 11pm, relented as the streaming crowd breached the police and City Hall barricades to join the revelers in the square.
Just before midnight the concert at the Dataran Merdeka was halted in view of the surge of protestors. City Hall personnel formed a line in front of the stage, and the lights were turned off.
Despite a pledge to stay apolitical, the crowd repeatly chanted slogans against the Prime Minister Datuk Seri Najib Razak, Umno and his Barisan Nasional coalition partners
Several opposition politicians present lending their support included P. Kasthuri, Nik Nazmi, Steven Sim and Teoh Kok Seong.
PAS supporters sat in a circle at the Jalan Parlimen-Jalan Raja intersection and listened to speeches from several party leaders instead of joining the throng that made it to Dataran Merdeka.
PAS central committee member Dzulkefly Ahmad explained how the public will be burdened by recent government policies, while vice-president Salahudin Ayub said that the people have shown courage by attending the rally despite threats from the government.
"There is no way for the government to ignore voices from all walks of life," he said.
A grandmother who wished to be known only as Julie said she was compelled to join the protest to urge the government to respect the people's wishes.
"The rakyat is suffering. The government cannot play deaf now," she said, holding a sign stating "Respect the voice of the people" in front of the police barricade.
The protesters had gathered earlier at the Sogo shopping centre in Kuala Lumpur with most clad in black, with some wearing the masks of English revolutionary Guy Fawkes, who has now become a global symbol of public revolt against the establishment.
However, the mood remained carnival and traders who had set up stalls in the vicinity of the Dataran Merdeka are doing a brisk business.
The crowd chanted "Bangkit, bangkit. Bangkit rakyat."
At Dataran Merdeka, a 1,000 strong crowd has begun to gather, also voicing their displeasure at the rising cost of living. A group of people were seen attempting to break through police barricades at Jalan Raja to get to Dataran Merdeka.
The protest is being organised by a group calling itself Gerakan Turun Kos Sara Hidup or Turun
Suaram, who has promised legal aid to any protestor detained by the police, had 10 personnel deployed in Dataran Merdeka
"We are here to check if there is any crackdown by the police and will provide legal assistance to those protesters who are arrested," said its coordinator Syukri Razab, adding that several lawyers were on stand-by to help.
The mass protest was prompted by the various recent increase in the prices of goods and services, such as the cutting of fuel and sugar subsidies, while other hikes are looming for next year, including electricity tariffs, assessment rates for KL properties, public transport charges and toll rates for major highways.
Police have been on high alert after claims circulated online purportedly claiming the intention of the protest is to topple the government.
Police said four non-governmental organisations (NGO) - Gerakan Turun Kos Sara Hidup (Turun), Solidarity Mahasiswa Malaysia (SMM), PKR-backed group Jingga 13 and youth group Solidariti Anak Muda Malaysia (SAMM) - as being the organisational and motivational force behind tonight's protest.
SMM chairman Mohamed Bukhairy Sofian, however, maintained that the gathering is to protest against the rising cost of living, and not to overthrow the Barisan Nasional (BN) government.
Anti-price hike movement Gerakan Turun Kos Sara Hidup (Turun) chairman Azan Safar had clarified also last week that the price hike protest is not linked to another gathering allegedly aimed at ousting the government. - December 31, 2013.

Monday 23 December 2013

Always Ask The Child’s Mother First

As I did more browsing along the internet and such, I stumbled upon another blog with a post that caught my attention....... As I was reading the article posted, It did came to my mind... how I despise others for always saying that I control too much, I make too much noise etc when it comes to my kid. Well... this lady actually summarizes everything I ever thought of.... 

Doesn't mean that you are a parent yourself, or turned grandparent, means that you know what is best for EVERY child on this damn planet. And that it is rude for you to simply just "assume" all the way. I think that you should have respect for every parent of a child and not simply assume. 

Nevertheless, happy reading on a Monday morning!

Link : Always ask the child's mother first (Clickable link)

Always Ask The Child’s Mother First

  | 10 Comments
Before I had them, I was the doting aunt that didn’t mind being around kids.
There was once a baby shower where boyfriends, husbands and kids were invited.  A cute little boy (whose mom was then an acquaintance but has now become a good friend) came running up to me.  I was seated at the dessert table, and he pointed towards the goodies behind me.  I saw he was asking for a brownie, and I automatically reached over to get one for him.  He was too cute to resist!
Somewhere in the motions of me reaching for the brownie and him reaching up towards the said dessert, I caught his mom’s gaze from afar.  smiled and mouthed, “he’s asking for this“.  My hand hadn’t made it all the way down (and his fingers were inches away from the brownie)when she jumped up and ran to get him, saying, “No no no no…” to me.  She did it very pleasantly, but in the end the little boy realized he’d been spotted and that he wasn’t going to get his brownie treat.  He started to cry, but his (wise) mom was able to distract him quickly enough with something else.
I also caught my then-boyfriend-now husband looking at me and he reprimanded, “You should have asked first.”
What I couldn’t understand then is something I TOTALLY understand, practice and advocate now.
I find I’m constantly in that mom’s shoes:  pulling my kids away because well-meaning friends, family and relatives just hand my kids sweets, treats, and all these other things without checking with me first.  I understand everyone just wants to see them happy, but it doesn’t make my job as a parent any easier (and parenting is already hard to begin with!).  In fact every time I’m put in this position, I think of that mom friend and how irritated she must have felt towards me then.  I don’t blame her, because that’s how I feel now!  Even when the children are polite and ask nicely or wait patiently for their turn.  I have been told many times that my kids are hard to resist… but I cannot say it enough:  PLEASE ASK ME FIRST.
Borrowing this from www.marriagelifeministries.org
Borrowing this from www.marriagelifeministries.org
Moms are already the bad cop by default, and we don’t want anything else to reinforce that unless it’s absolutely necessary.  Often enough we’re the rule enforcer, the one that’s more strict, and the “un-fun” one (as my niece would say).  We have rules that you may not know about.  And we have rules that are different from your own, for reasons you may not understand.  I’m personally happy to share ours when asked though, and I would guess that other moms would too.
What if the child is allergic to something you offer, or it’s against the doctor’s orders?  Only a mother will know.  And it’s safe to assume that if the nanny also tells you so — then take heed (because in my case) she has been properly briefed.
Another thing is to ask mom IN PRIVATE.  If you dangle chocolates in front of a child’s face and say “Look what I have!  Oh but let’s ask your mom first,” it puts us moms in an awkward position.  And the poor child, it’s like such a big tease to see it and to not be able to get it!  It’s not fair to them and all the more it causes trouble.  But I’ve also found that if I’m consulted first in private, if it doesn’t go against some of our non-negotiables (like no sweets after 6pm), I will bend and compromise.  I’m happy to find a win-win-win solution, because I too like seeing my kids happy and being given special care and treatment.  But I need your cooperation too, as do most moms.
Why should we give every mother this courtesy?  Because all our parenting styles are different.  We all operate under different rules and circumstances.  This small effort is a subtle way to show mom, “I respect your style.”  Letting mom know can also help her plan a little better.  And give us moms the benefit of the doubt.  We don’t want to be mean or difficult, just because.  In the end, whatever happens to our children, be it a tummy ache, an allergic reaction or a tantrum — we have to deal with it.  We have to explain why and why not.  It’s all on us.
Something else needs to be said too.  When you ask — WAIT FOR A RESPONSE.  Some people know the “rule”, are great at asking — but they don’t bother waiting for mom to reply!  They just do what they want anyway.  Why ask then, out of posterity?!
How can you expect them NOT to want it?  It's a totally unfair test of E.Q...
How can you expect them NOT to want it? It’s a totally unfair test of E.Q.
Once I was asked if Sam could have chocolates (this was before lunch).  I said yes she can have a few but after she eats a proper meal (who doesn’t know that chocolates ruin a child’s good appetite anyway?!).  The chocolates were left in front of my poor daughter who just kept staring at them.  After a few minutes of Sam’s prodding (that I was so patiently trying to ward off), my instructions were ignored and Sam was told she could reach into the box and take a small bite.  That’s not exactly very helpful is it?!
This is for all the other moms and parents who go through the same things I do.  I am completely aware — no one purposely wants to cause trouble, or break the rules.  Everyone just wants to help or to please the child.  But I hope this helps us all realize that the best help you can give is to mom by asking first (and listening next of course).   Just respect that boundary, and things will go smoothly.  Everyone will get what they want, and we’ll all live happily ever after.

Sunday 22 December 2013

Domestic Violence in Malaysia

Its indeed saddening to actually be able to stumble upon such a video in my reading of my news feed in facebook. But then again, Domestic Violence isn´t really something "new" in Malaysia. Many married people merely keep silent because.... many of them know that the police in Malaysia don´t really take action, irregardless of how many times the victims or the families of the victims step up and make a report. 

I am hoping, as you sit and watch this, and if you are in Malaysia..... that you could be one of the many people who are willing to step up and help if you see someone in trouble. How would you feel if it was your own child facing such situations in the future? 

The sadder part is watching and listening them talking about it, and learning how the authorities - although they have passed the Domestic Violence act, is still not taking any action against such matters, especially when the victims or the victim´s families comes up to make a report. I hope, with such survivors speaking up, that the Government of Malaysia will actually take more precaution and monitor such things properly.

Youtube Link : Survivors Speak Up - Domestic Violence in Malaysia (Clickable link)



Monday 16 December 2013

Let it Go - Disney´s Frozen


My favourite song which just keeps playing on and on and on within my head. =) 

Those of you who haven´t watched this yet, take the time, go with your loved ones - family, spouse, friends to the cinema and watch this brilliant new movie from Disney! =) 

Thursday 12 December 2013

The Tutu Project

When I first found the website on viralnova.com, the title actually caught my eyes..... a middle age man, wearing a pink tutu taking photos all around...... Was curious (As usual) and decided to check it out. It was an amazing story of love... and figured was something worth sharing to everyone out there... Putting a smile on someone´s face, especially one who´s battling with cancer.... it´s indeed a very good thing =) *Cheers*

Website : This Middle-Aged Guy in a Pink Tutu Seemed Ridiculous (Clickable link) 

This Middle-Aged Guy In A Pink Tutu Seemed Ridiculous. Then I Learned The Beautiful Reason For It.

December 11, 2013Stories
You might scratch your head when you see these photos and think “Why is that guy wearing a pink tutu?” The answer is, in equal parts, ridiculous and heartwarming. You see, this is Bob Carey. Bob’s wife has cancer. She was diagnosed with it in 2003 and The Tutu Project (as it’s now officially called) began as a way for Bob to express himself and make his wife smile. Then, it turned into something much bigger.
“Oddly enough, her cancer has taught us that life is good, dealing with it can be hard, and sometimes the very best thing—no, the only thing—we can do to face another day is to laugh at ourselves, and share a laugh with others.”
You can support their incredible project by visiting this link.
To learn more about Bob, Linda and their brave battle against cancer, visit The Tutu Project’s website or donate to The Carey Foundation.
Share Bob’s awesome story with everyone you know.