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RON97 petrol price down by 10 sen

The price of RON97 petrol will be reduced by 10 sen to RM2.80 per litre from midnight Wednesday (15 June 2011), according to Petrol Dealers Association of Malaysia president Datuk Hashim Othman.

This is the first reduction since the price was floated at market rates.

There have been four increases in RON97 petrol price since the beginning of this year.

The last increase on May 5 saw a hike of 20 sen to RM2.90 per litre.

RON 97 to cost 20 sen more from 5 May 2011

PETALING JAYA: The price of premium petrol RON 97 will be increased by 20 sen to RM2.90 per litre started 5 May 2011.

Malaysian Petrol Dealers Asso­ciation president Datuk Hashim Othman, who confirmed this, said the price hike would be effective at midnight yesterday.

“The price of RON 97 currently fluctuates as the Government has lifted the subsidy for this petrol,” he said.

He added that the recent occurrences of global natural disasters and the political instability in the Middle East had caused an increase in crude oil prices.

Hashim said crude oil prices dipped slightly after the United States announced the death of terrorist Osama bin Laden.

“The price of RON 97 might go down in the future, but that depends on the political situation in the Middle East,” he said.

“Natural disasters will also affect the price.”

Hashim, however, added that the price of RON 95, which is subsidised, would stay at RM1.90 per litre.

Last month, Deputy Finance Minister Datuk Donald Lim Siang Chai told Parliament that the Government had spent RM23.1bil on oil subsidies in 2010 compared with RM33.2bil in 2008.

He added that the Government had only allowed an increase of RON 97 petrol prices and left RON 95 unchanged to ensure that the people were not economically burdened.

Ron 97 fuel up by 20 sen

KUALA LUMPUR: The price of RON97 petrol will go up by 20 sen to RM2.70 per litre effective midnight tonight (2/4/2011), according to the Petroleum Dealers Association of Malaysia (PDAM).

PDAM deputy president Datuk Zulkifli Mokti said the increase was due to the rise in the price of crude oil to US$114 per drum this week from US$105.

"This is due to the crisis in the Middle East," he said when contacted by Bernama tonight.

Zulkifli said the price was likely to increase in the future due to the situation in the Middle East which he added could prolong.

On Jan 31, the price of RON97, which was floated according to the prevailing oil market price, rose by 10 sen to RM2.50 per litre.

RON95 petrol remains at RM1.90 per litre. - Bernama

Motorists to pay more in insurance premiums from 2012: Bank Negara

PETALING JAYA: Motorists will pay more for their insurance premiums from next year under the new motor framework but will reap the benefit of faster claims.

This is the first revision of the motor framework since 1978.

Bank Negara assistant governor Abu Hassan Alshari Yahaya, who announced this on Friday, said the premiums were not expected to have a material impact on the low-income group and the increases would be “gradual”, spread over four years.

After 2016, the premiums would be ‘liberalised’ and determined mostly by market forces.

“The new framework, which will encompass efficiency enhancement measures, is also expected to improve time taken to settle claims from the current average of 1 year to 5 years to 6 - 18 months,” he said.

Abu Hassan stressed that the adjustment would be gradual and “manageable”, refuting a news report published by a local daily Friday which stated that motorists may see premiums rise by about 250% and 450%.

“That is totally incorrect,” Abu Hassan said.

Citing preliminary figures for certain segments, he said for motorcycles 100 cc and below, the increase would be between an annual RM1-RM3.50 (for third party insurance) and RM1-RM2 (for comprehensive insurance) whereas for cars 1,500 cc and below, the increase would be between RM6 to RM34 (third party) and RM7 and RM19 (comprehensive).

The amount of premium paid would be dependable on factors such as the vehicle’s age and the motorist’s history of claims.

“The public can take some adjustment, the fact is that insurance premiums have not been adjusted for a very long time,” he said.

He said engagements had been held with key stake holders such as the police, hospitals and judiciary and a formation of a joint committee among these stake holders to oversee the effective implementation of the proposed framework’s efficiency enhancement measures would be established.

The current motor insurance rating framework has not been reviewed since 1978 and insurance companies have constantly raised the issue of third party motor insurance business being unprofitable given low premiums which did not commensurate with high claim costs.

According to Bank Negara’s presentations slides on Friday, the motor insurance business incurred an estimated annual loss of RM650mil as at 2009/2010.

RON95 petrol price to remain steady

KUALA LUMPUR: Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob said here on Thursday that fuel prices would not be raised despite the escalating global oil price.

He stressed that the current situation could still be handled without increasing the price of RON95 and diesel in Malaysia, which is now at RM1.90 and RM1.80 per liter.

Meanwhile, the ministry would discuss with the Finance Ministry to work out alternative measures to cushion the increase including increasing government spending on oil subsidy, he said.

The Middle East unrest has triggered global worries about oil supply. In response, the crude oil price on the global market has already breached US$100 (RM310) per barrel.

Malaysian government has allocated a subsidy of RM10.3bil ringgit in its 2011 Budget for food and fuels.

The government started to reduce the subsidies on both fuels and food at the end of 2010 to ease its fiscal burden.

Therefore, the prices of RON 95 and diesel were each increased five sen to the current level.

Govt studying ways to avoid increasing RON95 petrol price

KUALA LUMPUR: The government is studying all options available to avoid increasing the price of RON95 petrol in the near future although oil prices are rising globally, said Domestic Trade, Cooperatives and Consumerism Minister Datuk Ismail Sabri Yaakob.

He said his ministry was working closely with the Finance Ministry on the matter to ensure Malaysians were not adversely impacted following rising oil prices.

"We have to maintain a balance because we fear if fuel prices go up, prices of goods will go up in tandem and this will be a burden on the people.

"My ministry and the Finance Ministry are studying all options available to stabilise fuel prices to avoid any price hikes in the near future," he told a press conference here Tuesday.

Ismail Sabri was asked about rumours swirling around that the price of RON95 petrol would be increased soon. Also present were his deputy Datuk Tan Lian Hoe and the ministry's secretary general Datuk Mohd Zain Mohd Dom.

Earlier, Ismail Sabri had witnessed the signing of a memorandum of understanding on an automotive workshop modernisation project the Intellectual Property Training Centre here. - Bernama

KWSP Kredit RM21.61 Bilion Dividen (5.80%) Ke Dalam Akaun Ahli Untuk 2010

Kumpulan Wang Simpanan Pekerja (KWSP) dengan kelulusan Menteri Kewangan hari ini mengisytiharkan bayaran dividen tertinggi pernah dicapai sebanyak RM21.61 bilion kepada ahlinya, meningkat 11.55 peratus berbanding bayaran dividen 2009 sebanyak RM19.37 bilion. Amaun ini merupakan 5.80 peratus kadar dividen bagi tahun kewangan berakhir 31 Disember 2010.

Kadar dividen ini 15 mata asas melebihi kadar 5.65 peratus yang dibayar pada tahun 2009, menggambarkan tahun yang memberangsangkan di mana pendapatan pelaburan kasar mencecah rekod tertinggi dalam sejarah sebanyak RM24.06 bilion. Ini merupakan peningkatan 39.76 peratus berbanding RM17.22 bilion pendapatan pelaburan kasar yang dicatatkan pada 2009.

Dalam satu kenyataan yang dikeluarkan hari ini, Pengerusi KWSP, Tan Sri Samsudin Osman berkata, “Pendapatan pelaburan memberangsangkan yang dicapai pada 2010 ini dijana terutamanya daripada prestasi pelaburan ekuiti. Suasana kewangan dan ekonomi yang bertambah baik menyediakan pasaran dengan kecairan yang mencukupi lalu membenarkan aktiviti pengambilan untung sepanjang tahun.”

“Bayaran dividen ini diperoleh setelah ditolak elaun rugi terjejas bersih ke atas aset kewangan, perbelanjaan pelaburan, perbelanjaan operasi dan caj berkanun serta bayaran dividen pengeluaran.”

Disokong oleh tahun yang kukuh untuk pasaran ekuiti, Ekuiti merupakan penyumbang terbesar kepada pendapatan pelaburan kasar KWSP pada 2010, mewakili 45.45 peratus jumlah pendapatan pelaburan kasar KWSP. Untuk tahun tersebut, sejumlah RM10.94 bilion dijana daripada ekuiti, peningkatan ketara 125.69 peratus daripada RM4.85 bilion yang diperoleh pada 2009. (Rujuk Lampiran, Jadual 1).

Pinjaman dan Bon merupakan penyumbang kedua terbesar pendapatan pelaburan pada 2010, mencatatkan RM7.02 bilion pendapatan pelaburan kasar berbanding RM6.63 bilion dicatatkan pada tahun sebelumnya, manakala Sekuriti Kerajaan Malaysia menyumbang pendapatan ketiga terbesar sebanyak RM5.30 bilion berbanding RM5.22 bilion pada 2009.

Ini diikuti oleh Instrumen Pasaran Wang dengan pendapatan pelaburan kasar sebanyak RM703.52 juta, meningkat dengan ketara daripada RM435.57 juta pada tahun sebelumnya. Manakala sejumlah RM103.18 juta dijana daripada Hartanah dan Pendapatan-pendapatan lain.

Dalam tahun yang diulas, jumlah aset pelaburan KWSP terus mencatatkan pertumbuhan yang baik melepasi paras RM400 bilion kepada RM440.52 bilion setakat 31 Disember 2010.

Strategi pelaburan KWSP berpandukan model Alokasi Aset Strategik yang dirangka bagi menepati profil risiko dan pulangan KWSP serta untuk mengekalkan pulangan konsisten dalam jangka masa panjang. Pada 2010 kira-kira dua pertiga jumlah aset pelaburan KWSP kekal dalam instrumen berpendapatan tetap berisiko rendah yang memberikan pendapatan yang stabil.

“Sebagai dana persaraan, objektif utama KWSP adalah untuk melindungi modal (simpanan ahli) dan dalam masa yang sama memberikan nilai tambah kepada simpanan itu. Bagi mencapai objektif ini, KWSP akan terus melaksanakan pendekatan pelaburan berhemat yang didokong oleh penyelidikan yang menyeluruh dan teliti dan mengikut amalan terbaik pelaburan bagi memastikan simpanan ahli dilindungi untuk tempoh jangka masa panjang,” kata Tan Sri Samsudin.

Untuk bayaran dividen 2010, KWSP memerlukan RM3.73 bilion bagi membayar setiap satu peratus kadar dividen berikutan peningkatan dalam bilangan ahli. Jumlah ini meningkat 8.67 peratus berbanding RM3.43 bilion yang dibayar untuk satu peratus kadar dividen pada 2009. (Rujuk Lampiran, Carta 1)

Ahli boleh mendapatkan Penyata Kira-Kira KWSP mereka untuk menyemak pengkreditan dividen 2010 melalui Kios KWSP, kaunter atau i-Akaun mulai Isnin, 21 Februari 2011.

“Walaupun KWSP optimis bahawa momentum yang positif ini akan berterusan pada 2011, prospek untuk tahun ini akan terus bergantung kepada kekukuhan ekonomi domestik dan antarabangsa. Sebagai tabung persaraan, KWSP akan mengekalkan matlamat untuk melabur mengikut objektif strategiknya dan pada masa yang sama mengambil inisiatif pengurusan risiko yang ketat bagi menguruskan secara berkesan sebarang ketidak tentuan dan ancaman yang dihadapi,” kata Tan Sri Samsudin.

Mengenai Kumpulan Wang Simpanan Pekerja (KWSP)

Kumpulan Wang Simpanan Pekerja (KWSP) adalah dana pencen terulung di Malaysia yang menyediakan jaminan asas kewangan bagi persaraan. KWSP sentiasa komited dalam menjamin dan meningkatkan simpanan ahlinya melalui amalan terbaik pelaburan dan tadbir urus korporat. Langkah berhemah sentiasa menjadi panduan dalam setiap keputusan pelaburannya.

Sebagai sebuah organisasi yang berfokuskan pelanggan, KWSP memberikan perkhidmatan yang cekap dan berkesan untuk keselesaan ahli dan majikan berdaftar.

KWSP akan terus memainkan peranannya sebagai pemangkin kepada pembangunan ekonomi negara, selaras dengan kedudukannya sebagai institusi simpanan terkemuka di Malaysia.

Tarikh: 20 Februari 2011

Source from: http://www.kwsp.gov.my/index.php?ch=p2news&pg=bm_p2news_press&ac=3485

Ringgit hits new 13-year high

KUALA LUMPUR: The Malaysian ringgit hit a new 13-year high of 3.0345 in intra-day trading yesterday before ending trade at 3.036 against the US dollar.

A local wire service quoted a currency trader as saying the new high was driven by speculation that Asian central banks may raise interest rates to curb inflationary pressures and the continued demand for the local currency.

An Ambank Group report said yesterday that the ringgit's strength was precipitated by stronger-than-expected December export data, as manufacturers shipped more palm oil and petroleum products to customers in South-East Asia and Japan.

EPF dividend creeps up to 5.85pc for 2010, says source

KUALA LUMPUR, Feb 7 — Malaysia’s largest pension fund, the Employees Provident Fund (EPF), is expected to announce a slight dividend increase to 5.85 per cent for 2010, a source has told The Malaysian Insider.

It is understood that the 0.2 per cent increase was decided at a board meeting last month.

“Yes, it is not as high an increase as the year before,” the source said, referring to the jump from 2008’s 4.5 per cent to 5.65 per cent in 2009.

The rate was decided based on returns from EPF’s investments, the source added but did not reveal the fund’s profits for last year.

In 2009, EPF made a record RM19.63 billion in net profit.

The source said the investment panel had suggested the figure to the board last month and it was now awaiting approval from the Finance Ministry.

By convention, the finance minister will approve EPF’s recommendation and the announcement is expected later this month or early March.

In previous years, EPF had announced dividends of 5.8 per cent for 2007, 5.15 per cent for 2006 and 5 per cent for 2005. The highest dividend rate it has paid out was 8.5 per cent in 1983 and 1986.

According to previous reports, EPF’s investments recorded a 5.12 per cent increase to RM5.75 billion in the third quarter ending September 30 last year.

This was based on an investment outlay of RM425.49 billion.

EPF had also earned RM5.55 billion in the first quarter, a 70 per cent increase year-on-year, and RM5.93 billion in the second quarter.

The fund has around 6.3 million contributors.

Unionists had asked last year for government guarantees on workers’ contributions as the Najib administration had asked the EPF to invest more on the local and foreign fronts.

They say it appeared that the government was dependent on EPF funds in Budget 2011 where it was allowed to triple investments abroad to 20 per cent from seven per cent previously.

The pension fund is also involved in re-developing the Malaysian Rubber Board (MRB) land in Sungai Buloh and a RM23 billion bid to take toll operator PLUS Expressways Bhd private with UEM Group Berhad.

Historical of Malaysia's Employee Provident Funds Dividend Rate (Year 1952 - 2010)

李金友：棕油價料企高 綠野種植計劃派息2400萬

（吉隆坡31日訊）受惠于日愈走高的原棕油價格，邁入第四年的綠野種植業計劃（CHGS），宣布派發12%淨回酬。

Plentiful Gold Class公司主席丹斯里李金友指出，公司共派發2400萬令吉淨回酬給參與此計劃的投資者，這是自07年推出此投資計劃來的最高回酬率，在這之前的回酬率為8%。

該計劃目前投資者達1萬31名，其中3%為新加坡和香港投資者。

他今日在綠野種植業計劃淨回酬新聞發布會上，發表上述；列席者包括總執行長李金熊和綠野行銷私人有限公司（Mines Marketing Sdn Bhd）執行董事葉振聞。

淨回酬派發將以現場交付或線上電子淨回酬系統方式完成，投資者可在2月8日至13日，下午1時至5時，前往金馬皇宮酒店領取支票，或待2月中時，公司以電子轉帳方式將款項存入投資者銀行戶口。

李金友說，綜觀過去一年的原棕油價格走勢，預計在今年仍將繼續走揚，若原棕油價格持續維持在每公噸2500令吉以上，12%淨回酬仍可期待。


吸引城市種植者
 李金熊指出，去年原棕油價格平均維持在每公噸2700令吉。

綠野種植業計劃大部分用地位于吉蘭丹話望生（Gua Musang），但由于該地油棕樹齡介于1至3年，未達收成階段，因此主要收入來自沙巴拿篤（Lahad Datu）用地。

李金友指出，在此計劃下的拿篤用地達1200英畝，去年總產量達1萬1400公噸。

為了鼓勵更多投資者加入農民種植計劃，公司也計劃成立“城市種植者”投資俱樂部，將有意參與種植業的投資者聚集在一起，分享領域資訊和探討綠野種植業計劃未來發展。


Source from:
http://www.chinapress.com.my/content_new.asp?dt=2011-02-01&sec=business&art=0201bsa009a01.txt

Country Heights Growers Scheme makes record payout

THE Country Heights Growers Scheme, a farm-sharing investment scheme, has declared a record RM24 million dividend payout to its 10,031 investors.

Plentiful Gold-Class Bhd, the scheme's manager, will pay the dividends, that translate into a net yield of 12 per cent, by February 14 2011.

"For the first three years, we paid out 8 per cent in dividends to investors. This will be the fourth year and we're giving out 12 per cent," said pioneer of the scheme Tan Sri Lee Kim Yew.

"Our investors see good growth prospects in the oil palm industry and are prepared to lock into this scheme for 23 years," he told reporters in a briefing in Seri Kembangan, Selangor, yesterday.

Lee is also the major shareholder of Country Heights Holdings Bhd. However, the scheme, covering 3,600ha of oil palm plantation in Gua Musang, Kelantan, is a separate entity from Country Heights and is managed by Plentiful Gold-Class, a subsidiary of Bee Garden Holdings Sdn Bhd.

Lee said the master title of the 4,000ha Gua Musang oil palm plantation is registered in Bee Garden Holdings' name and is held in trust with BHLB Trustee Bhd.

"When the scheme expires in 2030, the plantation land will be put up for sale and net proceeds shall be refunded to all investors proportionately," he added.

Under the scheme, Bee Garden Holdings sold 3,600ha of the 4,000ha oil palm plantation land in Gua Musang to more than 10,000 investors of the scheme and raised RM215 million.

The money was used to buy oil palm seedlings, among others.

"We started planting the seedlings in 2006. The trees are still young. So far, the dividends paid out to the scheme investors are sourced from income generated at a 480ha oil palm plantation in Lahad Datu, also owned by Bee Garden Holdings," he said.

Overcharged iPhone bill

Telco justifies auto GPRS fees but cancelled service as requested

ONG of Petaling Jaya is exasperated after finding in his phone bill he has been overcharged by DiGi.

"My monthly bill usually comes up to no more than RM47.50. A few months ago, I received a statement from DiGi saying I owed them RM177.21. The following month, it was RM143.10.

"That was shocking news to me because my usual bill always been below RM50."

ONG says she called up DiGi's Customer Service Hotline and was told the billing department would call her in three days.

"After several missed calls and chasing after them, I was told my iPhone automatically connects to GPRS and incurs hefty charges this without me realising it.

"They told me this is apparently one of iPhone's flaws that had yet to be corrected.

"I told them it was not fair to penalise me for a fault that was not mine and to charge me for a service I never used. But DiGi was adamant and won't waive these charges."

ONG claims some of her friends also encountered the same problem.

"If DiGi knows such a fault exists in iPhones, they should warn customers about it and disable the GPRS function. I have since disabled the function but I suspect the telecommunication company is not going to issue any warnings to their customers."

ONG does not want others to go through her experience.

● A SPOKESMAN for DiGi Telecommunications Sdn Bhd says their investigations and records show the data charges are genuine as the customer’s postpaid account has an active GPRS service.

"On iPhone, the customer has the option to switch off the cellular/roaming data service to prevent unwarranted data usage and charges.

"We have since contacted the customer and the matter has been settled. DiGi has also cancelled the GPRS service as requested by the complainant.”

Motorists unhappy with another rise in fuel prices

PETALING JAYA: Motorists filling up last night in preparation to "balik kampung" ahead of the long public holiday stretch were disappointed at learning the RON97 petrol price has gone up by yet another 10 sen after a similar increase barely a month ago.

One irate motorist, identifying himself only as Loh, 40, had stopped at a petrol station while heading to Ipoh and felt the sudden rise would be a dampener for many as it came just ahead of the Chinese New Year festivities.

"My suggestion is for the petrol price to be maintained regularly as a drastic rise would affect consumers like me."

Lawyer Lim K.S, 50, was also disappointed with the decision as there was no prior warning.

"At least they should have told us early as we have to budget our expenses for the upcoming celebration. I have no choice but to pay extra for fuel as we've already confirmed our travel plans." Lim left for his hometown in Batu Pahat, Johor, last night.

Kevin Choi from Damansara said he never thought the price would increase again so soon. The RON97 petrol price also rose by 10 sen per litre to RM2.40 on Jan 4.

"Luckily for me, my hometown is Kuala Lumpur. I am sure it would affect others driving back to their hometowns."

Vincent Chang, 40, says he preferred using RON97 despite the higher price because he found the lower grade RON95 does not work well for imported cars.

"If price of crude oil decreases later, are they going to reduce the price?"

Yesterday Petrol Dealers Association of Malaysia deputy president Datuk Zulkifli Mokti announced RON97 petrol price would rise 10 sen to RM2.50 per litre from midnight.

"The increase was due to the rise in the price of crude oil to US$105 per drum this week, compared with US$100 previously."

'Sentiment still points to stronger ringgit'

The ringgit is likely to trade within a narrow range against the US dollar next week with traders squaring off positions in the holiday-shortened week.

"Traders are short covering but sentiment still points towards a stronger ringgit," a dealer said.

The foreign exchange market will only trade on Monday and Wednesday next week as the market will be closed for the rest of the days in the week for the Federal Territory and Chinese New Year holidays.

On Thursday, Bank Negara Malaysia maintained its overnight policy rate (OPR) at 2.75 per cent at its first Monetary Policy Committee (MPC) meeting for the year.

It cited cooling inflation for the unchanged rate but hinted that it may consider additional policy tools to avoid the risks of macroeconomic and financial imbalances.

On a Friday-to-Friday basis, the ringgit was higher against the US dollar at 3.0540/0570 from 3.0580/0620 previously, dipped against the Singapore dollar to 2.3835/3877 on Friday compared with 2.3819/3852 last week.

It was higher against the Japanese yen at 3.6947/6992 from 3.6806/6860 previously and against the British pound at 4.8491/8554 from 4.8705/8756 last Friday.

The local unit was also weaker against the Euro at 4.1858/1902 on Friday compared with 4.1471/1515 previously. -- Bernama