Bank Negara ends SME finance guarantees

Posted on : 31-12-2009 | By : sabah today | In : News

2009/12/31
MALAYSIA’S central bank will stop accepting new applications under its RM2 billion assistance guarantee scheme for small and medium-sized companies from today after helping more than 9,000 companies, Bank Negara said in a statement today.
The scheme was established in February to ensure smaller companies affected by the country’s economic slowdown would continue to have access to adequate financing, the central bank said, adding that its guarantees would no longer be necessary.
“As the domestic economic conditions show further improvement and with available ample liquidity, latest indicators have shown an upward trend of business loan applications and approvals in the banking system,” it said. – Bloomberg
(Source: New Strait Times)
2009/12/31
MALAYSIA’S central bank will stop accepting new applications under its RM2 billion assistance guarantee scheme for small and medium-sized companies from today after helping more than 9,000 companies, Bank Negara said in a statement today.
The scheme was established in February to ensure smaller companies affected by the country’s economic slowdown would continue to have access to adequate financing, the central bank said, adding that its guarantees would no longer be necessary.
“As the domestic economic conditions show further improvement and with available ample liquidity, latest indicators have shown an upward trend of business loan applications and approvals in the banking system,” it said. – Bloomberg
(Source: New Strait Times)
2009/12/31
MALAYSIA’S central bank will stop accepting new applications under its RM2 billion assistance guarantee scheme for small and medium-sized companies from today after helping more than 9,000 companies, Bank Negara said in a statement today.

SABAH CRIME THIRD LOWEST IN MALAYSIA

Posted on : 31-12-2009 | By : sabah today | In : News

31st December, 2009
KOTA KINABALU : Sabah’s crime rate is third lowest in the country.
The crime index from January to December 25 this year dropped by 5.61 per cent from 8,498 cases last year to 7,888.
“Violent crime like robbery and fighting decreased from 1,425 cases last year to 1,310 this year and the crime solving rate also improved from 34.61 per cent to 35.93 per cent,” Sabah Police Commissioner Datuk Noor Rashid Ibrahim told reporters after attending a police promotion ceremony in Kepayan here yesterday.
He said property crime also dropped by 404 cases from 6,982 in 2008 to 6,578 this year.
The number of murder cases so far was 67, the same as that reported last year.
And, according to Noor Rashid, most of murder cases involved illegal immigrants, foreigners holding the IMM13 working in Sabah as well as those holding international passports.
Noor Rashid also said an average of 200 out of 100,000 people committed crime.
To a question, Noor Rashid said only a handful of local people were involved in violent crime.
He added that 320 snatch theft cases were reported this year as compared to 413 last year.
Noor Rashid also said district police chiefs throughout the state have been told to take proactive action to reduce snatch thefts next year.
And to curb housebreaking, he said police personnel would patrol residential areas on motorcycles throughout the day and night.
Meanwhile, he said they would organise meetings with community leaders, heads of various government agencies and non-governmental organisations (NGOs) early next year as part of efforts to curb crime.
A total of 57 police officers were promoted to the rank of Assistant Superintendent of Police (ASP) during the ceremony yesterday and they were from various police units including 10 from General Operations Force (GOF).
And, Crime Investigation Department (CID) senior officer Supt Mohd Khalil Kader was promoted to the rank Assistant Commissioner of Police (ACP).
Among those present yesterday were heads of departments and district police chiefs.
(Source: New Sabah Times)
31st December, 2009
KOTA KINABALU : Sabah’s crime rate is third lowest in the country.
The crime index from January to December 25 this year dropped by 5.61 per cent from 8,498 cases last year to 7,888.

MITI To Intensify Trade Promotion Efforts In 2010

Posted on : 31-12-2009 | By : sabah today | In : News

December 31, 2009
KUALA LUMPUR, Dec 31 (Bernama) — The Ministry of International Trade and Industry (MITI) and its agencies are set for an aggressive drive in 2010 to promote trade and boost Malaysia’s export growth in view of global competition in the current economic scenario.
Their focus will be on fast-growing and emerging economies as the country continues to put great effort into reducing its dependency on traditional markets.
Malaysia External Trade Development Corporation (Matrade) chief executive officer Datuk Noharuddin Nordin has named Brazil, Russia, India and China (BRIC) as well as the Gulf Cooperation Council (GCC) region as fast growing economies.
The new and emerging markets, meanwhile, are Egypt, Ghana, Libya, Nigeria and Uganda in Africa; Iran, Kazakhstan, Kyrgyz and Uzbekistan in Asia; and Chile and Panama in the Americas.
For 2010, Matrade planned to carry out 168 trade promotion activities, of which 58.9 per cent would be in developing countries while the balance in developed countries, Noharuddin said.
For the traditional markets such as Australia, the European Union (EU), Japan and the United States (US), diversification efforts would be made for Malaysian exporters to tap into new market segments, he added.
This year, MITI and its agencies had intensified their efforts to penetrate into the non-traditional markets.
Matrade had also unveiled the external promotion work programme in line with the government’s initiative to increase intra-Asean trade and reduce Malaysia’s dependency on traditional markets like the US and EU.
Noharuddin told Bernama that emphasis had been given to capitalise on the growing economy in the non-traditional markets of West Asia, Eastern Europe and Latin America.
Among key highlights of the 2009 work programme was promoting five business sectors, namely building materials; food and agriculture; automotive parts and components; medical and pharmaceutical; and electrical and electronic.
The target markets included the oil-rich GCC, and the goal was to secure business opportunities, particularly in the construction industry and related services.
Apart from leveraging on the Organisation of the Islamic Conference platform to enhance trade with member countries, Malaysian exporters were encouraged to seize benefits arising from Free Trade Agreements (FTAs) that had been concluded either regionally or bilaterally, Noharuddin said.
In 2009, MITI and its agencies had planned a total of seven trade and investment missions and 25 specific project missions.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed led most of the trade and investment missions besides joining those headed by the prime minister including to China, Singapore and Indonesia.
The Arab countries visited included Bahrain, Qatar, Egypt and Saudi Arabia in January and October.
The trade mission to Europe from April 19 to 29 covered three major cities namely Frankfurt in Germany, Milan in Italy and London, United Kingdom.
The mission to Europe, Noharuddin said, was timely, taking into account the need to intensify marketing and promotional efforts by the private sector and investment promotion by state governments.
Malaysia is an open economy with heavy reliance on international trade.
For this year’s January-October period, total trade was valued at RM799.8 billion, a drop of 21.0 per cent from the same corresponding period of 2008.
Exports declined by 20.7 per cent to RM448.6 billion while total imports contracted by 21.4 per cent to RM351.2 billion.
(Source: Bernama)
December 31, 2009
KUALA LUMPUR, Dec 31 (Bernama) — The Ministry of International Trade and Industry (MITI) and its agencies are set for an aggressive drive in 2010 to promote trade and boost Malaysia’s export growth in view of global competition in the current economic scenario.

Sabah Today’s wishes all readers “Happy New Year 2010″!

Posted on : 30-12-2009 | By : sabah today | In : Greeting

‘Renewed confidence for SAS investors’

Posted on : 30-12-2009 | By : sabah today | In : News

December 30, 2009

Kota Kinabalu: Profits gained as recorded by the Saham Amanah Rakyat (SAS) has brought back the confidence among investors, particularly in Sabah, towards the management of SAS and the State Government that had been facing problems due to the drop in the share value.

Direct membership to BN ‘needs study’

Posted on : 30-12-2009 | By : sabah today | In : News

December 30, 2009

PRIME Minister Datuk Seri Najib Tun Razak said the idea of direct membership into the Barisan Nasional (BN) needs to be studied.

He wants to discuss it with leaders of the component parties in the coalition before making any decision.

Labuan bridge only if viable: Minister

Posted on : 30-12-2009 | By : sabah today | In : News

December 30, 2009

Labuan: The proposed bridge to connect Labuan and mainland Sabah may only be considered after a feasibility study carried out by University Malaysia of Sabah (UMS) said Federal Territory and Urban Wellbeing Minister Datuk Raja Nong Chik Raja Zainal Abidin.

Let’s share the good values: PM

Posted on : 30-12-2009 | By : sabah today | In : News

December 30, 2009

PEACE and goodwill to mankind – the essence of the Christmas Day celebration should be shared by every Malaysian in the context of nation building, said PM Datuk Seri Najib Tun Razak.

Why Sabah is hosting it again

Posted on : 30-12-2009 | By : sabah today | In : News

December 30, 2009

NAJIB said Sabah was chosen to host the Malaysia Christmas Open House for the second time because of its venue, Padang Merdeka, which has a special meaning, particularly to the people of Sabah.

Appetite For Higher Risk May Lead To Another Crisis, Says Economist

Posted on : 29-12-2009 | By : sabah today | In : News

December 29, 2009
KUALA LUMPUR, Dec 29 (Bernama) — Appetite for higher risk amid the underlying recovery in the global financial market and economy may lead to another crisis, according to an economist.

Sabah “Fixed Deposit” For Information Communication And Culture Ministry

Posted on : 29-12-2009 | By : sabah today | In : News

December 29, 2009
KOTA KINABALU, Dec 29 (Bernama) — Sabah is considered a “fixed deposit” of the Ministry of Information Communication and Culture, for its effectiveness in preserving the cultures of its various races, its minister Datuk Seri Dr Rais Yatim said on Tuesday.

Tropical Yuletide at national level Xmas open house

Posted on : 29-12-2009 | By : sabah today | In : News

December 29, 2009

KOTA KINABALU: It was a tropical Yuletide at the Padang Merdeka here, which hosted this year’s national level Christmas open house celebration.

MIER: Malaysia may face bigger challenges in 2010

Posted on : 29-12-2009 | By : sabah today | In : News

December 29, 2009
KUALA LUMPUR: Come 2010, the Malaysian economy is expected to face tougher and more challenging times following concerns that the United States may be heading for a double-dip recession.

1MALAYSIA CONCEPT

Posted on : 28-12-2009 | By : sabah today | In : News

28th December 2009

MAJOR POLICY CHANGES IN LINE WITH
1MALAYSIA CONCEPT

liberalizing 27 services subsectors: Liberalisation means businesses in the 27 subsectors need not fulfil any condition under the NEP. Later, the government clarified that most of the services subsectors liberalized were where there was little or no bumiputera participation currently.

HIGHLIGHTS

Posted on : 28-12-2009 | By : sabah today | In : News

28th December 2009

-Increase in personal income tax relief from RM8,000 to RM9,000.
-maximum income tax rate (income band of RM100,000 and above) be
reduced from the current 27 per cent to 26 per cent