BN government listens, makes bold decisions

Posted on : 09-05-2017 | By : sabah today | In : Local

KOTA KINABALU: The Barisan Nasional government is not only attentive but dares to make bold decisions to overcome issues affecting the people.
Chief Minister Datuk Seri Panglima Musa Haji Aman said BN under the leadership of Prime Minister Datuk Seri Najib Tun Razak was receptive to Sabah’s request for more socio economic development.
He therefore thanked Najib for granting RM80 million in allocation for the Sandakan Airport runaway extension which was requested by tourism industry players in the district.
“Those in the tourism sector voiced their concern on the limitations of the present Sandakan airport, which poses an obstacle to the growth of tourism in the area,” he said in a statement yesterday.
He said Najib’s approval for the extension was testimony to his ability to act promptly to the people’s grouses.
Musa said the state government also welcomed the announcement by Najib to abolish the cabotage policy that had been blamed for higher prices in Sabah and Sarawak compared to Peninsula Malaysia.
“The policy has been a source of contention among industry players and small businesses alike,” he said.
He said the bold decision would certainly help the manufacturing and export industries, making Sabah’s goods more competitive and would in the long run help in the state’s economic development.
He said aside from the cabotage policy, Najib was also attentive to numerous issues raised during the meeting with Sabah Cabinet yesterday such as restoration of state’s rights and devolution of powers.
“It is very easy to highlight only the bad and overlook the good that the BN has done. The BN leadership  is not only receptive but is daring enough to make bold decisions and undo policies that does not serve the rakyat.”
SOURCE: THE BORNEO POST

KOTA KINABALU: The Barisan Nasional government is not only attentive but dares to make bold decisions to overcome issues affecting the people.

Chief Minister Datuk Seri Panglima Musa Haji Aman said BN under the leadership of Prime Minister Datuk Seri Najib Tun Razak was receptive to Sabah’s request for more socio economic development.

He therefore thanked Najib for granting RM80 million in allocation for the Sandakan Airport runaway extension which was requested by tourism industry players in the district.

“Those in the tourism sector voiced their concern on the limitations of the present Sandakan airport, which poses an obstacle to the growth of tourism in the area,” he said in a statement yesterday.

He said Najib’s approval for the extension was testimony to his ability to act promptly to the people’s grouses.

Musa said the state government also welcomed the announcement by Najib to abolish the cabotage policy that had been blamed for higher prices in Sabah and Sarawak compared to Peninsula Malaysia.

“The policy has been a source of contention among industry players and small businesses alike,” he said.

He said the bold decision would certainly help the manufacturing and export industries, making Sabah’s goods more competitive and would in the long run help in the state’s economic development.

He said aside from the cabotage policy, Najib was also attentive to numerous issues raised during the meeting with Sabah Cabinet yesterday such as restoration of state’s rights and devolution of powers.

“It is very easy to highlight only the bad and overlook the good that the BN has done. The BN leadership  is not only receptive but is daring enough to make bold decisions and undo policies that does not serve the rakyat.”

SOURCE: THE BORNEO POST

Oil & gas companies to promote use of natural gas

Posted on : 09-05-2017 | By : sabah today | In : Uncategorized

KUALA LUMPUR: Oil & gas companies can help promote the use of natural gas, together with renewable energy as the cleaner fuel option to sustain economic growth, Prime Minister Datuk Seri Najib Tun Razak said.
He said now is the right time to encourage the adoption of natural gas in new markets as prices have become attractive, aided by the right investment in infrastructure.
“I am hopeful that companies and governments can form ‘smart’ partnerships to unlock the full potential of natural gas as a viable option, which makes both commercial and environmental sense.
“It is important that we see these two motives as supporting one another, not being in opposition,”  he said in his keynote address at the 19th Asia Oil and Gas Conference yesterday.
He said oil & gas companies can also help push the technological envelope to reduce the amount of greenhouse gas emitted during industry processes.
“I understand, there have been some strides taken in the development of carbon dioxide (CO2) management technologies, including by Petronas. I hope more can be done to achieve a quantum leap in improving and deploying these technologies,” he said.
Najib said the abundance of gas discoveries had helped spur growth of the liquefied natural gas (LNG) industry in the Middle East, the Asia Pacific and Australia.
“The emergence of more producers, increased supplies and competitive gas prices has transformed LNG into an attractive energy resource for emerging economies, and one that also had the benefit of being far less carbon intensive.
“I strongly believe that industry players can collaborate to support the wider adoption of LNG by offering innovative commercial solutions and technical assistance to nations with a fledgling interest in this sector,” he said.
He said the International Energy Agency (IEA) had predicted that global energy demand would double by 2050, not least because of a rising global population, and legacy industry players need to work harder and realign  strategic priorities to remain relevant and sustainable in the long run.
Najib said the oil and gas industry continued to be on the leading edge in adopting new technologies to raise efficiency and productivity.
“With the rise of the Internet of Things, the increasing use of big data analytics and automation, the industry will be able to deliver more energy resources at better prices,” he  added.
He said against the backdrop of these new realities and approaches being adopted by leading players, Malaysia’s economy continued to thrive despite headwinds.
“Last year we recorded growth of 4.2 per cent.  The economy, this year, is projected to grow between 4.3 and 4.8 per cent, supported by healthy domestic demand and robust private sector investment,” he added.
Najib said gross exports are expected to accelerate at a faster pace of 2.7 per cent due to a rebound in the export of commodities and with strong demand for electronics and electrical products, it is expected to spur the manufacturing sector.
Najib said under the government’s Economic Transformation Programme (ETP), the energy sector is set to register annual growth of five per cent up to 2020, transforming Malaysia into a regional oil trading and storage hub and ensuring long-term energy supply security to the domestic market.
He said the recent US$7 billion investment by Saudi Arabian Oil Company (Saudi Aramco) in Petronas’ Refinery and Petrochemical Integrated Development (Rapid) project in Pengerang, Johor, exemplifies Malaysia’s ongoing attractiveness as an energy investment destination pf choice.
“This clearly positions the oil & gas industry as one of the biggest drivers of the ETP. This investment also makes Saudi Aramco the single largest investor in the country so far,” he said.
Earlier, Najib launched the world’s first floating LNG facility, PFLNG Satu, owned by Petronas.
He said PFLNG Satu is a game changer for the industry, bringing together the liquefaction, production, storage and offloading processes of LNG to an offshore gas field.
“We are proud that Petronas has developed this technology, which will maintain the company’s technical edge as a key global LNG supplier,” he added.
Themed, “New Reality-Driving a New Approach”, the two-day conference brings together eminent industry leaders, policymakers and delegates from around the world.
SOURCE— BERNAMA
KUALA LUMPUR: Oil & gas companies can help promote the use of natural gas, together with renewable energy as the cleaner fuel option to sustain economic growth, Prime Minister Datuk Seri Najib Tun Razak said.
He said now is the right time to encourage the adoption of natural gas in new markets as prices have become attractive, aided by the right investment in infrastructure.
“I am hopeful that companies and governments can form ‘smart’ partnerships to unlock the full potential of natural gas as a viable option, which makes both commercial and environmental sense.
“It is important that we see these two motives as supporting one another, not being in opposition,”  he said in his keynote address at the 19th Asia Oil and Gas Conference yesterday.
He said oil & gas companies can also help push the technological envelope to reduce the amount of greenhouse gas emitted during industry processes.
“I understand, there have been some strides taken in the development of carbon dioxide (CO2) management technologies, including by Petronas. I hope more can be done to achieve a quantum leap in improving and deploying these technologies,” he said.
Najib said the abundance of gas discoveries had helped spur growth of the liquefied natural gas (LNG) industry in the Middle East, the Asia Pacific and Australia.
“The emergence of more producers, increased supplies and competitive gas prices has transformed LNG into an attractive energy resource for emerging economies, and one that also had the benefit of being far less carbon intensive.
“I strongly believe that industry players can collaborate to support the wider adoption of LNG by offering innovative commercial solutions and technical assistance to nations with a fledgling interest in this sector,” he said.
He said the International Energy Agency (IEA) had predicted that global energy demand would double by 2050, not least because of a rising global population, and legacy industry players need to work harder and realign  strategic priorities to remain relevant and sustainable in the long run.
Najib said the oil and gas industry continued to be on the leading edge in adopting new technologies to raise efficiency and productivity.
“With the rise of the Internet of Things, the increasing use of big data analytics and automation, the industry will be able to deliver more energy resources at better prices,” he  added.
He said against the backdrop of these new realities and approaches being adopted by leading players, Malaysia’s economy continued to thrive despite headwinds.
“Last year we recorded growth of 4.2 per cent.  The economy, this year, is projected to grow between 4.3 and 4.8 per cent, supported by healthy domestic demand and robust private sector investment,” he added.
Najib said gross exports are expected to accelerate at a faster pace of 2.7 per cent due to a rebound in the export of commodities and with strong demand for electronics and electrical products, it is expected to spur the manufacturing sector.
Najib said under the government’s Economic Transformation Programme (ETP), the energy sector is set to register annual growth of five per cent up to 2020, transforming Malaysia into a regional oil trading and storage hub and ensuring long-term energy supply security to the domestic market.
He said the recent US$7 billion investment by Saudi Arabian Oil Company (Saudi Aramco) in Petronas’ Refinery and Petrochemical Integrated Development (Rapid) project in Pengerang, Johor, exemplifies Malaysia’s ongoing attractiveness as an energy investment destination pf choice.
“This clearly positions the oil & gas industry as one of the biggest drivers of the ETP. This investment also makes Saudi Aramco the single largest investor in the country so far,” he said.
Earlier, Najib launched the world’s first floating LNG facility, PFLNG Satu, owned by Petronas.
He said PFLNG Satu is a game changer for the industry, bringing together the liquefaction, production, storage and offloading processes of LNG to an offshore gas field.
“We are proud that Petronas has developed this technology, which will maintain the company’s technical edge as a key global LNG supplier,” he added.
Themed, “New Reality-Driving a New Approach”, the two-day conference brings together eminent industry leaders, policymakers and delegates from around the world.
SOURCE— BERNAMA

Ringgit to recover gradually over time, says RHB

Posted on : 09-05-2017 | By : sabah today | In : National

KUALA LUMPUR: The ringgit is expected to recover gradually over time as economic fundamentals remain intact and the Malaysian economy is still expected to grow at a steady pace, says RHB Research.
In a note, the research firm said the local currency would also get a boost from the commodities sector’s recovery and when policies by US President Donald Trump’s administration started to disappoint the market.
“Nevertheless, volatility in the ringgit could persist in the near-term given expectations of further US rate hikes, vulnerability from large foreign holdings of fixed income instruments in the country and volatility of oil prices,” it said.
After appreciating by 1.8 per cent for the whole of April, the ringgit rose further by 0.3 per cent to RM4.3365 vis-à-vis the US dollar in the first week of May.
RHB Research said the stronger ringgit in April was on account of a weaker greenback, partially due to the disappointing policy implementations by Trump, easing Eurozone disintegration risks and improved foreign inflow of funds into the Malaysian equities market.
Malaysia’s foreign exchange reserves rose by US$700 million to US$96.1 billion as at April 28 from US$95.4 billion in March due to foreign inflow of funds, driven by Bank Negara Malaysia’s requirement to convert 75 per cent of export proceeds into THE ringgit, and the central bank’s efforts at managing other foreign capital outflows.
SOURCE— BERNAMA
KUALA LUMPUR: The ringgit is expected to recover gradually over time as economic fundamentals remain intact and the Malaysian economy is still expected to grow at a steady pace, says RHB Research.
In a note, the research firm said the local currency would also get a boost from the commodities sector’s recovery and when policies by US President Donald Trump’s administration started to disappoint the market.
“Nevertheless, volatility in the ringgit could persist in the near-term given expectations of further US rate hikes, vulnerability from large foreign holdings of fixed income instruments in the country and volatility of oil prices,” it said.
After appreciating by 1.8 per cent for the whole of April, the ringgit rose further by 0.3 per cent to RM4.3365 vis-à-vis the US dollar in the first week of May.
RHB Research said the stronger ringgit in April was on account of a weaker greenback, partially due to the disappointing policy implementations by Trump, easing Eurozone disintegration risks and improved foreign inflow of funds into the Malaysian equities market.
Malaysia’s foreign exchange reserves rose by US$700 million to US$96.1 billion as at April 28 from US$95.4 billion in March due to foreign inflow of funds, driven by Bank Negara Malaysia’s requirement to convert 75 per cent of export proceeds into THE ringgit, and the central bank’s efforts at managing other foreign capital outflows.
SOURCE— BERNAMA