Is the massive hit by Queen. For fadilah bahrain this could well be a prophecy.
Anti corruption agency, corrupt practice, LRT, MRT, u name it and news portal Sabah kini has the low down on it.
Will Fadilah Bahrain be the next government servant to give Najib Razak a bad name.
Click on the link below for details:
http://sabahkini2.com/en/news/181/nyawa-penumpang-mrt-dan-lrt-dalam-bahaya-skandal-rasuah-ketua-pengarah-jsm-mosti-didedahkan/view.
Is the 1986 hit for Cyndi Lauper taken from the smash hit album true colours.
The true colours are out on Jho Low, and for once and for all Malaysians know that with regards to Jho Low, whats going on.
Malaysian Insight has the story. Read below :
THE Royal Malaysian Police has closed its investigation into businessman Low Taek Jho, said Deputy Prime Minister Dr Ahmad Zahid Hamidi.
As such, the question of seeking Interpol’s assistance in searching for Low, otherwise known as Jho Low, does not arise, he said in a statement.
“My answer to Gombak MP Azmin Ali in the Dewan Rakyat this morning clearly says that there are no more cases (against Jho Low),” Zahid said.– October 23, 2017.
Bodak Yellow is the current number one hit in the USA by Cardi B.
Bank Negara Malaysia, does the money moves, hinting that cyber currency may soon be banned in Malaysia.
Read the story below : The governor of Malaysia's central bank would not rule out a ban on cryptocurrencies when discussing upcoming regulation yesterday.
Speaking to reporters at a financial crime conference in Kuala Lumpur, the governor of Bank Negara Malaysia (BNM) said it will decide "before the end of the year" whether to ban the trading of cryptocurrencies under its mandate as a domestic financial regulator.
Is the current USA top 20 hit by Kane Brown & Lauren Alaina.
On September 19, Bloomberg wrote an article stating that Malaysia's reserves are amongst the lowest and most vulnerable in Asia.
Bank Negara has hit back with a statement to Bernama. Read below :
KUALA LUMPUR – Bank Negara says the article published by Bloomberg, titled Malaysia Reserve Buffer Seen by Moody’s as Among Weakest in Asia on Sept 18 focuses only on a rigid interpretation of two economic indicators and therefore presents an unbalanced and simplistic assessment of Malaysia’s international reserves adequacy.
Responding to the article, it said the reporting by Bloomberg reflected a lack of understanding of the Malaysian economy, external position, financial system and its economic policies.
“This, together with a penchant for misplaced country comparison, without taking into account country specificities, has led to an erroneous judgment of the Malaysian economy and its external resilience,” it said in a statement.
Explaining in detail, the central bank contextualised the indicators and emphasised that an assessment of the adequacy of reserves should be undertaken with a broader review of Malaysia’s economic and financial developments. As for Moody’s External Vulnerability Indicator (EVI), which measured short-term external debt by remaining maturity over reserves, Bank Negara said they were not a material risk.
Correspondingly, banks have placements abroad to mitigate currency and maturity mismatches. Also included as part of short-term external debt are inter company loans and trade credits. Inter company loans reflected transactions between foreign direct investment companies and their parent companies.
This is subject to flexible and concessionary terms. In addition, trade credits are usually backed by export earnings which do not entail a claim on international reserves, Bank Negara explained.
WHAT IF, Bloomberg is MERELY stating FACTS. As NUMBERS, they DON'T, lie. They merely report, the realities on the GROUND
Is a current US top 20 hit for Migos & Gucci Mane.
Slippery is how the stock market is going to be says the man who manages US$110 billion and out performed two thirds of fund managers.
Especially dangerous is the Asian market and currencies. Bloomberg has the story :
Nader Naeimi has bought gold, shorted emerging currencies.
‘Markets need a correction,’ the AMP Capital investor says
Stock markets are headed for a big selloff, maybe not today, but soon.
That’s the view of Nader Naeimi, who heads a dynamic investment fund at AMP Capital and helps manage about $110 billion.
The Sydney-based investor has about 30 percent of his holdings in cash, an allocation to gold and is short emerging-market currencies versus the dollar.
His fund has beaten 77 percent of peers over the past year, according to data compiled by Bloomberg.
“Markets need a correction,” Naeimi said. “There is a significant disconnect between uncertainty and market pricing of risk.
North Korea and other events will provide the triggers for a correction.”
“While today’s fall in risk assets might not be deep, the process is one of an incremental rise in market volatility,” Naeimi said. This “will culminate in a deeper-than-expected correction.”
Is the massive 1983 hit single from British duo the Eurythmics, taken from the album touch.
Malaysia, better watch out, because word in town is here comes the rain again!!.
Free Malaysia Today, has the story. Read below :
PETALING JAYA: Malaysia is likely to be hit by a recession in 2018, with most of the sectors expected to slow down, political and economic affairs analyst Prof Hoo Ke Ping predicts.
However, he said, the palm oil industry would do well due to the La Nina effect which will see more rain than expected, pushing production and prices for the edible oil upwards.
“Malaysians will feel the pinch of recession from next year onwards due to various factors, including a decline in consumer confidence and the retrenchment of workers from such sectors as oil and gas, banking, retail, and electronics,” he told FMT.
Is the current hit single from Dua Lipa, taken from self titled album.
There are new rules in place when it comes to 1MDB's case in the USA. Apparently now the USA is pursuing a criminal case against those who stole our money.
Does this mean Jho Low will soon be charged in court soon? The devil is in the details...talk in town is the fat boy, might end up being the WITNESS.
Reuters have some of the story here. Read below :
The U.S. Justice Department is conducting a criminal probe into 1Malaysia Development Berhad (1MDB) and has asked for a stay on its civil lawsuits in connection with $1.7 billion in assets allegedly bought with money stolen from the scandal-hit state fund.
A total of $4.5 billion was misappropriated from 1MDB by high-level officials of the fund and their associates, according to dozens of civil lawsuits filed by the U.S Justice Department in the past two years.
1MDB did not immediately respond to an emailed request for comment.
Is the current us top 20 hit by Yo Gotti & Nicki Minaj.
Malaysia looks like raking up, a long list of economic no no's, which soon could trigger a massive withdrawal by foreigners in the bond and equity markets.
Inflation is at an eight year high, foreign reserves held by Bank Negara stood at US99.1 billion compared to US141.4 billion in 2013.
To top it all up, reserve adequacy is low, compared to the countries near us.
Malaysia’s reserves are sufficient to finance 6.5 months of imports, according to data compiled by Commerzbank AG using a 12-month moving average.
That compares with 9.9 months for Indonesia, 10.8 for Thailand, 11.2 months for the Philippines, and 21.6 for China.
Is the massive hit for Weeknd & Daft Punk, taken from the album starboy.
The starboy in accurately predicting stock market crashes is Nobel laureate Robert Shiller, with his own version of the price to earnings ratio known as the Shiller CAPE.
Shiller says I can feel it coming. CNBC has the story. Read below :
Yale University economics professor Robert Shiller has a warning for investors.
The Nobel laureate says low volatility paired with a questionable price-earnings ratio could wipe out a chunk of the stock market's value.
"The price increase just went step-by-step with the earnings increase. I think it's an overreaction to good earnings," said Shiller on Wednesday's "Trading Nation."
His comments came as the S&P 500, Dow and Nasdaq were hitting fresh all-time highs and the CBOE Volatility Index dropped to a record low.
In a special note to CNBC, Shiller writes that low volatility could be "the quiet before the storm." It's a phenomenon which Shiller says is making him "lie awake worrying."
And, that's not the only issue he's raising.
His Shiller PE Ratio, also known as CAPE, shows the price-earnings ratio based on average inflation-adjusted earnings from the last 10 years is over 30. The number carries significance because the only times it's been higher was just before the Great Depression in 1929 and mid-1997 to mid-2001.
"I worry that historically earnings have been trend-reverting," said Shiller. "Admittedly, we do have a president who's going to 'make America great again.' So if he's right, maybe then we're launching out in a whole new path. But it would be the first time in American history."
Shiller's latest analysis shouldn't be taken lightly.
His forecasting skills were recognized in 2013 when he won the Nobel Prize in Economics. He's known for predicting both the dot-com bubble and the housing bubble in his book "Irrational Exuberance."
If Shiller is right and the stock market ultimately goes back to trend, it could create havoc.
Is the massive new single from the Script. It could soon be RAIN ING for Jho Low.
The Singapore Business Times, citing former US ambassador to Malaysia, John Mallot drops a bomb shell : The USA will pursue criminal charges against Jho Low.
The story is below : http://www.asiaone.com/business/us-action-1mdb-could-put-time-limit-malaysias-political-chaos.
Is the 2015, massive hit for Imany, taken from their hot selling album French Women.
When you talk about Najib Razak these days, people only mostly see the bad.
So here is a special take on the good, the bad and the crazy, which Najib Razak has had a hand in where Malaysia is concerned.
First the good. Under Najib Razak this year, foreigners have pumped in more than US$2.4 billion. This is the most for any country in South East Asia, with the exception of Singapore.
Malaysian exports have shot up, outpacing that of Thailand, Vietnam or Indonesia, largely because the seven per cent drop in the Ringgit, makes the ringgit, the cheapest currency in South East Asia, cheaper than even the Philippines peso for foreigners.
Malaysia is now not overly reliant on oil money to keep the GDP numbers rosy. Najib Razak has helped diversify the economy.
The bad, it's obviously Jho Low and 1MDB.
The crazy is despite all the positive economic vibes, Najib Razak is hugely unpopular in the Malay heartland due to the mess up in Felda and the GST hurting Malay businesses more than their Chinese counterparts.
Bloomberg has most portion of this story covered . Read below :
When the global trade rebound came this year, Malaysia held one advantage over its peers: the cheapest currency in Southeast Asia.
The ringgit is down more than 7 percent against the dollar in the past year, even after recovering in 2017. Exports from Indonesia to Vietnam are surging but Malaysia’s shipments are growing the fastest, accelerating to a seven-year high of 33 percent in May.
After a couple of years of slowing growth, declining investor sentiment and a corruption scandal involving a state-owned investment fund, Malaysia’s fortunes are turning. The World Bank raised the nation’s growth forecast in June by the most in East Asia, inflation is easing and foreign investors are more bullish on the stock market. That’s taking the pressure off the central bank to add more stimulus to the economy after last year’s interest-rate cut.
“The ringgit went through a difficult period but it is now helping exporters,” said Wellian Wiranto, an economist at Oversea-Chinese Banking Corp. in Singapore. “That is boosting the economy and with domestic consumption improving, the central bank is very, very likely to keep rates unchanged in the next six to 12 months.”
Rate Decision
Bank Negara Malaysia will probably hold its benchmark interest rate at 3 percent on Thursday, according to all 21 economists surveyed by Bloomberg.
“Bank Negara is in a sweet spot now,” said Irvin Seah, a senior economist at DBS Group Holdings Ltd. in Singapore. “We had a strong run in the first quarter in terms of gross domestic product growth and inflation is gradually moderating. This provides room for policy makers to maintain the policy.”
The World Bank predicts Malaysia’s economy will expand at least 4.9 percent annually from 2017 to 2019, from 4.2 percent last year. Malaysia’s exports are equivalent to about 70 percent of gross domestic product in 2016 at constant prices, according to government data.
While risks remain -- including a general election and doubts about the strength of the trade recovery -- foreign investors are piling in. Non-residents purchased about $2.4 billion of Malaysian stocks so far this year, the most in Southeast Asia excluding Singapore.
An improving growth outlook means the odds are rising that the central bank will start signaling a more hawkish stance, said Euben Paracuelles, an economist at Nomura Holdings Inc. in Singapore.
“The two most important things for Bank Negara are the growth outlook and financial stability risk,” he said. “Given the strength of growth, led by exports and palm oil, the probability of a hike next year is higher than a cut.”
Is the current top five UK hit for the star studded Artist for Grenfell.
Goldman Sachs says that the stock markets low volume suggest that , it's a mere makeshift bridge over troubled waters.
Bloomberg has the story. Read below:
War or Recession Might Be Needed to Break Low-Vol, Goldman Says
Markets have been stuck in ‘low volatility regime’ for a year
Recent pickup unlikely to be sustainable without large shock
It’ll take more than central bank tightening to shake volatility from its yearlong slumber, according to Goldman Sachs Group Inc. A large shock such as recession or war is usually required.
That’s generally been the case for the 14 similar low volatility “regimes” since 1928, at least in equity markets, Goldman Sachs strategists Christian Mueller-Glissmann and Alessio Rizzi said. These periods on average lasted nearly two years, featured short-lived spikes and realized S&P 500 volatility was usually at or below 10.
Swings picked up across assets in the past week and investors are positioning for a shift higher, in part because of fears of central bank tightening, the strategists wrote in a July 3 report. But a sustained breakout is unlikely without an escalation in uncertainty or recession risk, they said.
“Volatility spikes have been hard to predict as they often occur after unpredictable major geopolitical events, such as wars and terror attacks, or adverse economic or financial shocks and so-called ‘unknown unknowns’ (e.g. Black Monday in 1987),” London-based Mueller-Glissmann and Rizzi said. “Recessions and a slowing business cycle have historically resulted in a high vol regime across assets.”
Goldman Sachs puts the chances of a recession in the next two years at 25 percent.
Low volatility isn’t unusual and tends to stem from a favorable macroeconomic backdrop with strong growth but anchored inflation and rates, similar to a “Goldilocks” scenario, Mueller-Glissmann and Rizzi said. Markets have reflected this since January, with equities reaching record highs, strong global growth and declining bond yields, they said
Is the smash hit from Billy Joel taken from the album storm front.
There is a storm front building, and even if we didn't start the fire, get ready for the headlines : 1MDB, emerges in Saudi Arabia- Qatar mess.
The Wall Street Journal has the story. Read below :
Yousef al-Otaiba linked to Malaysia 1MBD scandal: WSJ
Companies connected to UAE's envoy to US received $66 million from accounts linked to Malaysia's 1MDB fund, WSJ reports.
Companies connected to the UAE's ambassador to the US received $66 million from offshore accounts that contained money allegedly embezzled from Malaysia's 1MDB investment fund, according to documents reviewed by The Wall Street Journal.
In 2015, allegations emerged that billions of dollars were stolen from Malaysia's state-owned 1MDB.
The WSJ said leaked emails of ambassador Yousef al-Otaiba included "descriptions of meetings between Shaher Awartani, an Abu Dhabi-based business partner of Mr. Otaiba, and Jho Low, the Malaysian financier the [US] justice department says was the central conspirator in the alleged $4.5 billion 1MDB fraud".
The US justice department said that the billions had been stolen from 1MDB by people close to Malaysian Prime Minister Najib Razak.
The fund is also at the centre of investigations in many other countries, including the United Arab Emirates and Singapore.
Najib has denied any wrongdoing and 1MBD officials have said it has found no evidence of misappropriation.
According to the WSJ, in addition to the meetings between Awartani and Low, "a Singapore criminal case against a Swiss banker disclosed $50 million of payments made to the companies connected to Mr. Otaiba, including Densmore Investments Ltd. in the British Virgin Islands and Silver Coast Construction & Boring in the UAE".
The WSJ added: "In separate documents reviewed by the Journal related to Singapore's investigation of alleged 1MDB-linked money laundering, authorities describe Densmore as controlled by Messrs. Otaiba and Awartani. Those documents also describe another $16 million of separate payments to Densmore in the form of loans from a company connected to the alleged fraud."
Hackers from a group that calls itself "Global Leaks" began leaking emails from Otiaba's inbox earlier this month.
According to the WSJ, a number of those emails show communications between Otaiba, Awartani and Low.
"On May 5, 2015, a Dubai-based financial executive working at a company controlled by Messrs. Otaiba and Awartani told Mr. Otaiba in an email that Mr. Low had instructed the men to close their accounts at BSI Bank, a private Swiss bank that investigators in the U.S., Switzerland and Singapore say played an instrumental role in the alleged 1MDB fraud. Densmore held an account at BSI," the WSJ said.
The WSJ said Otaiba declined to comment on its findings, but a spokeswoman for the UAE embassy told the news organisation that the embassy "noted the existence of numerous orchestrated dossiers that have been prepared … targeting the ambassador and which are purported to contain hacked emails".
She also said the embassy notes "the context of the role of the UAE in the current suspension of diplomatic and economic relations with the state of Qatar" and as a result, the embassy "will not talk to or respond to any of these dossiers".
Saudi Arabia, the UAE, Bahrain and Egypt cut diplomatic ties with Qatar and imposed sanctions on the country on June 5, accusing it of supporting "terrorism", an allegation Doha has rejected as "baseless".
Last week, the Saudi-led bloc gave Qatar 10 days to comply with 13 demands to end a major diplomatic crisis in the Gulf, insisting, among other things, that Doha shut down Al Jazeera, close a Turkish military base and scale down ties with Iran
Is the early 2000 hit by Westlife. Najib Razak is Malaysia's most maligned and underated prime minister.
He has liberalised the economy like no other prime minister before him had done, moved the economy from being over dependent on oil revenue, and basically help digitalise the economy.
Yet, he has got tangled up in the 1MDB scandal, hence not many people inside Malaysia has given him much credit, for what this man has been doing for the economy.
Foreigners are however pouring their support by voting with their money, as ploughing in record numbers into Malaysia.
Bloomberg has the story, (read below), but is Najib Razak and Malaysia *flying without wings*?:
Malaysian assets are back in favour as investors focus on encouraging signs of an economic turnaround instead of a scandal that has touched the top of government and as far as Hollywood.
The stark shift means that Prime Minister Datuk Seri Najib Razak, who has weathered political attacks and protests going back to 2015 over allegations involving state-owned 1Malaysia Development Bhd (1MDB), may call an early election to cement his hold on power.
The ringgit is easily the strongest major Asian currency this quarter, climbing more than twice as much as the next best, the Chinese yuan. Global funds have bought the most Malaysian stocks year-to-date since the same period in 2013, and net inflows to the bond market surged in April and May.
Malaysia has been rocked by far-reaching investigations into investment fund 1MDB, yet double-digit acceleration in the country’s exports has lifted the economy, which grew 5.6 per cent on-year in the first quarter, the most since early 2015.
“With improving macro-economic conditions in Malaysia, we became more positive in mid-2017 for the general Malaysia outlook, although there are still political and corruption concerns,” said Hakan Aksoy, a fund manager at Pioneer Investment Management Ltd., which oversees US$244 billion (RM1.08 trillion) globally.
“As long as we see improvement on the macro data with the support of global conditions and stable energy prices, we will keep our cautiously positive stance for Malaysia,” London-based Aksoy said.
Is the 1988 , US and UK top 30 hit by Tania Tikaram, whoes mother is a Malay from Malaysia. The song remains the highest charting single by a Malay, who originates from Malaysia.
Selamat Hari Raya Everyone. If you feel that there is a twist in Your sobriety, you are not alone!!!!
Is the smash hit from Julia Michaels. Malaysia has some serious issues thanks to the 1MDB scandal.
One fears that what is happening now is just half way through the iceberg.
Read below, on the rating issues that could come haunt us. The report is from CNBC :
Malaysia's sovereign rating may be in trouble as an ongoing corruption saga threatens to destabilize the nation's fiscal position, S&P Global Ratings has warned.
In a Thursday statement that affirmed the Southeast Asian country's A-/A-2 foreign currency and A/A-1 local currency ratings, S&P said Kuala Lumpur's outlook remains "stable" but noted that the scandal surrounding state investment fund 1Malaysia Development Berhad (1MDB) and upcoming elections could challenge ratings in the near-to-medium term.
"Those challenges could manifest themselves via a rise in the cost of refinancing Malaysia's sizable gross external financing needs, or via nonresident outflows from Malaysia's deep local-currency government bond market," S&P said.
Is the smash hit for Kate Winslet, the lead actress in the movie Titanic.
The song is taken from the album flying home for Christmas.
Just, like how the Titanic, was labeled the unsinkable ship, the Diplomat has labeled Najib as the unsinkable.
What if, such articles are being circulated to inflate the confidence of Najib, who has backed off from slapping GST on 60 goods yesterday.
Najib is also facing pressure on 1MDB, a challenge from Mahathir Mohamad and an economy that is no longer up grading the poor to middle class in numbers.
What if , What if..... Read Malaysiakini :
Leaders in Western democracies would have been doomed, but Prime Minister Najib Abdul Razak has managed to survive a series of unprecedented scandals, according to The Diplomat.
This, said the current affairs magazine, is because, in Malaysia, politicians dance to a different tune.
In an article titled “The Unsinkable Najib Razak”, The Diplomat said Najib is also expected to retain his grip on power
Is as we know now, is the smash hit by Maroon 5.
Last week, I told you, that for Malaysia, this summer is gonna hurt like a mother fucker.
Since then we have had the 1MDB scandal hitting global newsstands , ensuring that there is no general election this year.
My main grouse why this summer's gonna hurt like a mother fucker was the GST.
Malaysiakini has the latest GST report , read below, and with that your teh tarik and Nescafe tarik price is going to go up :
The goods and services tax (GST) will be imposed on fresh food items and more processed food items starting July 1.
China Press reported this included some seafood, vegetables, and fruits, tea, coffee, spices, and noodles.
New items reportedly to be levied the GST include spinach, long beans, peas, potatoes, sweet corn, grapes and coconut oil.
Customs Department director-general Subramaniam Tholasy confirmed this and said a statement will be issued soon, The Star reported.
“It’s only a few items not consumed by the masses,” he reportedly said.
Introduced on April 1, 2015, at six percent, the GST is now zero-rated for fresh food items
Is the 1969 hit from hard rockers Led Zeppelin.
It seems, Myanmar now wants to lift it's foreign workers ban on Malaysia.
Malaysia, should say thank you, but you can go fly kites to Myanmar.
CN Asia, has the story. Read Below :
KUALA LUMPUR: The Malaysian government says it is unaware of Myanmar's plans to lift a ban imposed in December on workers coming to Malaysia.
The Myanmar government had told Channel NewsAsia it could lift the freeze as soon as this month. The Labour, Immigration and Population Minister says it is waiting for a final confirmation that it will be safe for Myanmar workers to return.
The ban was issued in the wake of Malaysia's vocal criticism of Myanmar's alleged mistreatment of its ethnic minority, the Rohingya,
"The world cannot sit by and watch genocide taking place," Prime Minister Najib Razak had said at a pro-Rohingya rally in Kuala Lumpur in December, slamming Myanmar's de-facto leader Aung San Suu Kyi as well.
Is the massive club hit from 3Lau featuring Luciana.
We came to bang, is an understatement to what the barbarians at the gate have in store for Ringgit Malaysia.
Currently trading at RM4.28 against the US dollar and RM3.09 against the Singapore Dollar....We came to bang bang..we came to bang!!!
Is the latest smash hit featuring David Guetta and Justin Bieber.
2U or is it for you, higher pump prices at the petrol stations, after Hari Raya.
Bloomberg has the story, from a global point of view, why price of fuel will tank . Read below :
As if a mini-collapse in oil prices wasn’t bad enough for OPEC, the pattern in which futures contracts are trading years from now has flipped into the worst possible structure for the exporter group.
Brent and West Texas Intermediate crudes, down almost 15 percent since late May, are both trading in contango, where forward prices get higher all the way into the next decade. While it’s a structure that normally denotes weak demand for spot cargoes, the price pattern could also be bad news for the Organization of Petroleum Exporting Countries as it can sometimes tempt producers outside the group to lock in output for future years.
Saudi Arabia is among nations that have been saying for months that a re-balancing is under way in the oil market after OPEC and other producing nations agreed late last year to cut production. That view was undermined in recent weeks by data showing that combined stockpiles of crude and fuels in the U.S., still the biggest consumer, swelled by 22 million barrels. The International Energy Agency in Paris suggested Wednesday that there’s little sign 2018 will be much better.
Is the current hit from Rita Ora, that is dominating the charts in the United Kingdom.
When it comes to 1MDB, there is no our song, there is Only your song.
The justice department in the USA claims that Jho Low stole just US$850 million from Malaysian tax payers.
Surprisingly, instead of rejoicing that some of the money could soon be recovered, the Prime Minister's Department has issued this very odd statement :
There hàs been numerous and extensive investigations by Malaysian authorities into 1MDB, and no crime was found. "Until then, unproven allegations should not be taken as facts."
Is the Maroon 5 hit from 2016, taken from the album, as you should know now V.
Man Wah Holdings, a Hong Kong furniture maker, according to Muddy Waters, is not in the pink of health.
The stock has that , mark of the beast sign all over it, closing yesterday at 6.66 Hong Kong Dollars.
According to CIMB Malaysia, there is an 81 per cent success rate probability of a short seller managing to tank a stock on the Hang Sent Index.
Man Wah meanwhile says it may take legal action against Muddy Waters...Thus far, no legal papers has been filed....therefore for Man Wah, one could gather This Summer Gonna Hurt Like A Mother Fucker.
Is the massive hit for Maroon 5 from the album v, last year.
With our GDP numbers up, after a two years hiatus, the Ringgit at RM4.27 against the US dollar, and equities are poised for a massive run up, helped by the very bullish run expected from the Dow Jones, why does one still have this feeling : This Summer Gonna Hurt Like A Mother Fucker.
Let me give you a clue : GST!!!.
Is the latest smash hit from Selena Gomez. Kimora Lee the fashion designer, who is married to the white guy from Goldman Sachs, who has been banned by the Singapore Government from doing banking or financial advisory business in the island state, is a denying reports that 1MDB money funded her fashion business.
Is Kimora Lee telling the truth or is she a freaking BAD LIAR. Read below and come to your own conclusions :
Kimora Lee Simmons’ fashion line at center of corruption probe
The fashion line Kimora Lee Simmons launched three years ago could become a casualty of an international investigation of corruption in Malaysia.
Simmons — who was discovered at 14 by Karl Lagerfeld — has been married for three years to Tim Leissner, the banker who left Goldman Sachs under a cloud last year after raising $6.5 billion for a Malaysian development fund.
The FBI and investigators in four other countries are tracing hundreds of millions of dollars allegedly transferred to Malaysian Prime Minister Najib Razak and his cronies.
“Goldman Sachs was paid exorbitant fees for selling the bonds,” one lawyer who has followed the case told me. “The prosecutors, if they do their job, will seek to claw back the commissions.”
It is widely believed that Leissner financed the launch of his wife’s eponymous fashion line. As Fashionista noted in 2014, “Unlike other brands that come into the designer market, Simmons has an unusually well-funded infrastructure.”
Kimora has two daughters from her marriage to hip-hop mogul Russell Simmons, a son by Djimon Hounsou and a son with Leissner.
But she is best known for two reality shows, “Kimora: Life in the Fab Lane” and “Kimora: House of Fab.”
Kimora’s fashion line — sold online and at a boutique in Beverly Hills, Calif., with tops going for $550 — can’t be profitable, no matter how beautiful her designs are, retail experts told me.
“She’s off the map. She’s not in any department stores,” one said. And Leissner might not continue to subsidize the operation.
Reps for Simmons, Leissner and Goldman Sachs did not respond to requests for comment
Is the hit from hard rockers Aphrodite's Child, taken from the album five o'clock.
Its way past five' o clock now, but as of now five people have been jailed for the crimes committed relating to 1MDB.
Nobody in Malaysia, who has Malaysia's interest at heart, will be happy until fat boy jho Low is thrown into the jail.
Meanwhile, read the story below :
SINGAPORE (May 24): Kelvin Ang Wee Keng, a former remisier with Maybank Kim Eng, has become the fifth person convicted in Singapore for roles related to fund transfers linked to 1Malaysia Development Bhd (1MDB).
Ang, 35, pleaded guilty in court this afternoon for bribing research analyst Jacky Lee Chee Waiy with S$3,000 to speed up the preparation of a valuation report needed to support the acquisition of PetroSaudi Oil Services Limited (PSOSL).
Ang was fined S$9,000 by district judge Lim Keng Yeow – S$1,000 lower than the fine sought by prosecutors. Ang’s three weeks of remand when he was first arrested last year was taken into consideration, the judge added.
Is the massive UK hit for Maggie Lindemann.
In January, I told you this deal was going to happen this year.
Reuters has the story. Read below, the story of this pretty girl :
China's Geely takes 49.9 percent stake in Malaysia's national carmaker Proton
Chinese automaker Zhejiang Geely Holding Group on Wednesday said it would buy a 49.9 percent stake in Malaysia's national carmaker Proton from conglomerate DRB-HICOM (DRBM.KL), marking another major Chinese auto investment in Southeast Asia.
Geely, parent company of Hong Kong-based Geely Automobile Holdings Ltd (0175.HK) and Sweden's Volvo Car Group, would also acquire 51 percent of Proton unit Lotus, the companies said.
The investment comes on the back of deals worth billions of dollars signed recently between China and Malaysia, but Proton is an asset wrapped in national pride as an emblem of the country's post-independence industrialization and economic growth.
"Proton will always remain a national car and a source of pride, as Proton will still have a majority hold of 50.1 percent," Malaysia's Second Finance Minister Johari Abdul Ghani said at a press conference to announce the deal.
"Our very own much-loved brand now has a real chance in making a comeback, a huge one I hope."
No value for the deal was released, but a statement from DRB-HICOM said an agreement with Geely was expected to be signed in July.
Is the massive hit by Post Malone from the album stoney.
If you own, Orion IXL shares, you might be feeling a little stoney right now, with the stock falling to 38.5 Sen with some 8 million shares traded, matching it's four weeks average volume.
But congratulations, Orion IXL will be holding its EGM, after this week, and with that will come some RM15 million in gauranteed profits.
So don't sell, and get ready for a rodeo ride, because the guy holding the ringgit Bil, is merely playing Russian roulette 😈.
Currently sits at number two position on the UK top ten. The single is from DJ Khaled & Justin Bieber.
The authorities showed who is the one who can give you legitimacy, and with that a big middle finger to Gerakan which had attempted to give JJPTR some form of respectibility.
Free Malaysia Today has the story. Read below:
Some 20 officers from the federal police, Companies Commission of Malaysia and Bank Negara Malaysia stormed the JJPTR office at Perak Road here today.
At about 12.30pm, the officers rushed up to the first floor of the shoplot, ignoring questions by reporters about their presence.
Police then blocked the doors of the office, telling members of the media to “wait for Bukit Aman” to respond on the matter.
Police reportedly froze five JJPTR bank accounts following a multi-agency crackdown led by the Attorney-General’s Chambers.
Is a minor hit for Madonna from the massive best seller Like A Virgin album.
For Ringgit Malaysia, it seems Love Don't Live Here Anymore, as the currency hovers at 4.35 against the US dollar and 3.08 against the Singapore Dollar.
Not even, the 1MDB bond issue settlement, has managed to bring the currency below RM4 against dollar and below RM3 against the Singapore Dollar.
This has become the new normal, and the fear is now, we may never in our life time see the Ringgit below RM4, against the US Dollar. This is a scary thought for the Malaysian economy and a good pointer as to where inflation is heading to.
Is the massive hit from the pot smoking Wiz Khalifa and Charlie Puth.
Hong Leong Research this month has up grade Pos Malaysia's price target to RM6.08.
See You at six then....
Is a current US Top 30 hit from Brett Young.
In case you didn't know, on Feb 24th this year, Bank Negara has put JJPTR under the financial consumer alert list.
What this means is that whatever JJPTR is promising people who part with their money is illegal.
Out of the blue comes GERAKAN which is part of the Barisan Nasional Government, to show the middle finger to the Barisan Nasional' appointed Governor of Bank Negara , by holding this press conference and with that giving the illegal JJPTR some form of credibility, which it does not deserve.
The star has the story. Read below :
KUALA LUMPUR: Controversial investment scheme JJPTR founder Johnson Lee has finally made an appearance in public.
He appeared at a press conference facilitated by Gerakan, which featured 100 JJPTR investors with disabilities.
At the press conference, Lee declined to take questions from the press, but returned the investments of 10 of these people, saying he would fully the refund the other 90.
Several armed policeman were at the scene here at Jalan Ipoh on Wednesday, but they did not stop Lee from leaving.
Is the massive hit that turned Irene Cara into a super star in the 1980's.
March 2017, superstar IWC Bhd which had hit limit up twice in that month, might be asking the same question WHY ME, now that the stock has hit limit down.
Down 92 Sen to RM2.16, IWC still have plenty of fat for a couple of more limit downs.
If the Bandar Malaysia project stays axed, then all of IWC IPO Financial projections cannot be met.
Is the massive hit of 2017 for Rae Sremmurd.
Talking about the Beatles, stocks in the USA has done something, it has not done since the Beatles first toured North America , some 53 years ago.
Clearly, there is a stock market party taking place across the globe, from the Americas to Europe and all the way to Asia, where Japan, South Korea and Taiwan are leading the charge.
The response on the Malaysian equity market has been decent, although there is an underlying feeling, despite so many positive economic reports, the GST has robbed the nation of its heart and soul.
Here is Market Watch telling you what happened when the Beatles first toured the USA and why it is relevant today to the stock market :
The stock market just did something it hasn’t done in 53 years. As of Friday, the S&P 500 moved less than 20 points in either direction eight days in a row, the longest streak since the Beatles first visited North America.
But for all the dramatic scenarios this factoid could imply, for stocks, it may be a good omen given the historical precedent.
In 1964, the last time the S&P 500 was range-bound for this long, the stock market eventually threw off its shackles to gain 0.5% the following week and rise 1.7% one month later, according to analysts at Bespoke Investment Group.
Those may not be numbers to crow about, but Bespoke analysts stressed that the limited downside amid low volatility is remarkable.
Jonathan Krinsky, chief market technician at MKM Partners, blamed some of the market’s lethargy on investors moving to foreign assets.
The underlying trend in the U.S. is bullish, he said, but “there is some rotation out of U.S. into international stocks. Europe continues to break out and hit new highs, Asia—Japan, Korea, and Taiwan—are acting very strong
Is the 1974 minor hit for Monty Python.
I do like some people in Barisan Nasional, but I must agree with Lim Guan Eng on the zero per cent GST tax.
The people will welcome it, with that, the idiot song award goes to Barisan Nasional's communication team for saying that bringing the GST down to zero does not bring benefit to any party.
If my assertion is correct, what this means is that the Rakyat, is not a party in this nation according to BN Communication team. Malaysiakini has the story, which might just get BN kicked out from the government. :
The BN strategic communications team has criticised Lim Guan Eng's statement that Pakatan Harapan has decided to reduce the Goods and Services Tax (GST) rate from six percent to zero percent as part of their campaign manifesto.
"He continues to insist that reducing GST to zero percent is the same as abolishing GST.
"This is untrue as the government and businesses will continue to bear the unnecessary administrative expenses of GST-compliance but does not give benefits to any party. It will become a big negative with no positive benefits," said the team in a media statement.
Is a current US top five hit for Future taken from the album named future.
The future looks very interesting as the masks are off, and UMNO itself is asking why the double payment on the 1mdb bonds.
Malaysiakini has the story. Read Below :
What happened to the previous payments from 1MDB to Abu Dhabi’s Aabar?
This question has been posed by Kulim Bandar Baharu MP Aziz Sheikh Fadzir, who is also one of the BN representatives on the Public Accounts Committee (PAC).
Aziz said this following the announcement of the settlement between 1MDB and International Petroleum Investment Co (IPIC), which is owned by the government of Abu Dhabi.
“I am supportive of the settlement… but the Finance Ministry must explain to the PAC where the payments 1MDB made to Aabar go to before this,” Aziz (photo) told Malaysiakini when contacted.
IPIC initiated arbitration proceedings last year to claim US$6.5 billion from 1MDB. The settlement was announced yesterday.
According to filings made to the London Stock Exchange, IPIC said it will receive US$1.2 billion in two equal payments on July 31 and Dec 31.
Is the 1999 hit from Sasha. Pos Malaysia shares today closed at RM5.27 a share, it's strongest close in 52 weeks.
If you believe what I told you in September 2016, then this stock will touch RM6 a share before the first anniversary of my posting.
Is the highly acclaimed cult hit by Michelle Treacy, which got her a Juno nomination in 2016.
For those of us who think that Malaysia paying the "Arabs" again for the second time, and that the Ringgit firming up to RM4.37 against the US Dollar is an indication of good things to come.
Think Again.
May is just around the corner and as the saying goes sell in May and go away. If that is not enough, there is a case of an Armageddon taking shape .
Bloomberg has the story. Read below :
The Chinese and U.S. stock markets are going in opposite directions.
An intensifying crackdown against leverage in Asia’s biggest economy has rocked the hither-to unflappable Shanghai Composite Index over the past week, sending it to a three-month low last session. In the U.S., the largest equity market is embracing a risk rally spurred by the French election, with the S&P 500 Index continuing to build on reflation-trade gains ignited by Donald Trump’s November victory.
The divergence means the two markets are the least in tune since August 2008 -- just before the collapse of Lehman Brothers Holdings Inc. unleashed chaos on the global financial system
Is a so so hit for Britney Spears taken from her album Femme Fatale.
What is the worst kept secret in town is that Malaysia and the Arabs have agreed to a deal on the 1MDB bond repayment which will be announced today on the London Stock Exchange.
The deal is very unfavourable to Malaysia. Instead of paying US$1.5 billion , we will now be paying the Sheikhs in the desert a MINIMUM of US$2.5 billion .
This is a huge amount of money, but it is an amount Malaysia can actually pay, as we are well off country, to put this 1MDB shit into the sewerage once and for all.
Unfortunately, money is not the only concern here, because as long as that criminal Jho Low is allowed to walk free, Malaysia will remain the only equity market in the developing economies, where global funds are under weight.
Sure for a day or two after this announcement on the stock market in London, the Kuala Lumpur market will run.
After that people will ask , why is it we have agreed to pay this much to the Arabs, when we have actually already made the payments.
Opps, that payment went to Jho Low isn't it? Why is Jho Low on a yatch? When will the Malaysia Government formally issue a warrant of arrest against this fat Chinaman?
If you don't, do that...Be very careful in calling for a general elections, because even in red Malaysia, the children are starting to talk to their parents.
Is the 1960's classic from the platters .
Malaysia looks to be like a great pretender, with Morgan Stanley saying that despite being the only country to be under weight by foreigners in South East Asia, good things are coming our way.
Nomura says no such thing, pointing out that our stock market has gone up by six per cent against the MSCI, and even though, corporate earnings will go up by between eight to nine per cent, valuation wise, we are still the most expensive buy in South East Asia
Morgan Stanley though, has been muted and un convincing on the valuation front.
CNBC has the story. Read below :
Morgan Stanley believes that Najib will call for election this September.
Malaysian company earnings were also poised for recovery, Morgan Stanley said, estimating profit growth would improve to 8-9 percent in 2017-18 after three years of declines.
The bank also pointed to construction companies' "peak" order book levels, a 10 percent rise in palm-oil volumes with chances for price increases and a drop in banks' provisions as non-performing loans peak.
The fifth driver for Malaysia stocks was a "cheap and supported" currency, the bank said.
"We think domestic sentiment on the ringgit has stabilised, with lower political uncertainty and improving commodity prices," it said. "The conversion of export proceeds into ringgit is also supportive."
Earlier this year, the ringgit had weakened to around levels not seen since the Asian Financial Crisis in 1997, with the dollar fetching as much as 4.4980 ringgit.
In Friday trade, the dollar was fetching around 4.39 ringgit.
To be sure, the bank noted that the MSCI Malaysia may be expensive compared with its Southeast Asian peers, trading at 16.3 times the next 12-months' earnings.
But it added that it believed earnings were depressed, with the index trading at only 14.9 times its 2018 earnings per share forecast.
The bank also noted that Malaysia was the only Southeast Asian market where foreign investors were underweight compared with other emerging markets.
"Given the low positioning, upcoming catalysts, and turnaround we have seen in commodity-oriented currencies like the Brazilian real (BRL) and Russian ruble (RBL), Malaysia could see an influx of foreign equity flows, which could help re-rate the market further along with improving earnings trajectory," it said.
It set a base case MSCI Malaysia target at 645, compared with levels around 605 currently.
Not all analysts were taking a positive view on Malaysia's market. Nomura said in a note on Friday that it was staying underweight.
Nomura said the primary argument for increased interest in Malaysia stocks was that after underperforming regional peers "so significantly" for four years, the market should be attractively valued. The bank also noted that politics and governance appeared to be improving and that an early election could bring further inflows to the market.
But Nomura wasn't convinced.
"The market is not cheap," it said, adding that stocks there could be the most expensive in the region.
Nomura also said that while earnings had bottomed, they continued to underperform the region and would continue to do so in 2017 and 2018.
Is a minor hit for the greatful dead, taken from the album dead set.
Well it looks like we are dead set for a deal with the Arabs, and if this deal does go through, then what it means is the government of Malaysia must seek to arrest Jho Loh via Interpol's red alert . This fat Chinaman must be arrested and justice served
Bloomberg has the story :
Malaysia has reached an agreement to pay Abu Dhabi $2.5 billion as partial debt settlement for embattled government fund 1Malaysia Development Bhd., according to a person familiar with the matter.
Under a deal that’s expected to be announced Monday on the London Stock Exchange, Malaysia will pay Abu Dhabi $1.2 billion before the end of this year, said the person, who asked not to be identified as the information isn’t yet public. Malaysia will also assume the coupon obligations for two dollar bonds issued by 1MDB and co-guaranteed by Middle Eastern sovereign wealth fund International Petroleum Investment Co., the person said.
1MDB and the Malaysian finance ministry will pay the $2.5 billion through proceeds raised from the sale of units Brazen Sky Ltd. and 1MDB Global Investment Ltd., the person said. The two countries also agreed not to pursue legal action before December 2020 as they negotiate the dispute over $3.5 billion linked to the two bonds, the person said.
Is a blast from the past. It's the title track from the 1983 album of the same name by Billy Joel.
Adam Rosly, the PKR millionaire politician will soon have his day in court, to prove once and for all that he indeed is an innocent man.
Adam is going to be charged under the anti money laundering act or AMLA, an act that came into force to curb funding for terrorists.
Malaysia kini has the story :
PKR leader Adam Rosly is expected to be charged tomorrow while his bungalow in Ampang which has been likened to 'Disneyland' was also seized by the Malaysian Anti-Corruption Commission (MACC).
Adam, who is Ampang PKR Youth chief, is expected to be charged under Section 32(8)(c) and Section 89 of the Anti-Money-Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
Section 32(8)(c) concerns the furnishing of false or misleading information to investigators while Section 89 concerns the falsification, concealment and destruction of documents.
Both offences carry a fine of up to RM3 million or imprisonment of up to five years or both.
When contacted, MACC deputy commissioner (operations) Azam Baki confirmed the matter.
The MACC had been investigating Adam's wealth following reports that he purchased the property for RM1.2 million in cash.
He was arrested on April 13 while giving a statement to the MACC and was subsequently remanded to facilitate investigations.
Is the current pop hit from Keith Urban and Carrie Underwood, which is fast climbing the US charts.
The fighter from the USA has sent a direct warning to Malaysia, that uncle Sam is watching , and it does not like what it is seeing.
The CIA linked Voice of America has the story :
The Malaysian government is facing public pressure to resist following reports of the Chinese coast guard patrolling waters claimed by Malaysia.
From December to late February, three Chinese coast guard ships had been patrolling off the Malaysian coast of Borneo.
A Malaysian coast guard ship, according to the Asia Maritime Transparency Initiative, tracked the boats. The initiative is part of the U.S. Center for Strategic and International Studies, or CSIS.
The Chinese boats were found near Luconia Shoals, a small area of land in Malaysia’s exclusive economic zone.
The report from CSIS says Malaysia also spotted 100 fishing boats escorted by the Chinese coast guard at the same area in March 2016. The Chinese coast guard had been there since 2013.
Pressure on Malaysia for response
Experts say the finding will add pressure on Malaysia’s Prime Minister Najib Razak to respond against China.
Colin Koh is a maritime security research fellow at Nanyang Technological University in Singapore. He feels that these issues will be problematic for Razak.
“This is going to become a particularly problematic issue that he will find very hard to deal with," Koh said.
Economic relations a factor
Razak usually avoids direct conflict with China. The country is Malaysia’s top trading partner and its biggest source of direct foreign investment.
Jonathan Spangler is director of the South China Sea Think Tank in Taipei. He says, “For Malaysia, which has sought to maintain friendly relations with China, publicly condemning Chinese actions would disrupt that delicate balance and could have serious economic and other repercussions.”
Is the song by Kendrick Lamar that currently occupies the number two spot on the US Top 40 charts.
Singapore's Today news paper has a HUMBLE story on the sad state of the Ringgit.
Believe it or not, if you are a Malaysian security guard at Singapore's Changi Airport, with two years experience, you are probably earning as much as a PROFESSOR in Johor Baru.
The TODAY story, then :
JOHOR BARU, April 17 — As the Malaysian ringgit continues to notch new lows against the Singapore dollar, TODAY looks at how the fortunes of two families have changed.
The Balachandran family
Living the Singapore dream
Vasanthan Balachandran and his family used to have to think hard about stretching their RM400 budget when shopping at the SongMart supermarket in the outskirts of Johor Baru.
Not anymore. These days, they just buy whatever they feel like, largely thanks to the Malaysian currency’s unprecedented slump against the Singapore dollar.
“We can just take a basket and drop everything we want. Life is sweet. Life is bling bling,” said the Malaysian, who earns about S$2,000 (RM6,312) as a pre-boarding screening officer at Changi Airport.
The Singapore dollar continued its climb against the ringgit last week, hitting a new all-time high of 3.1786 on Thursday (April 13). The outlook for the ringgit – which has been on a downward spiral since mid-2014 due to the global oil price slump, a corruption scandal at state investment fund 1Malaysia Development Berhad and rising US interest rates – remains wobbly, especially with the continued outflow of capital from Malaysia since Donald Trump’s election victory last November.
On the ground, the impact of these currency movements can be dramatic. For instance, Vasanthan’s salary, once overtime pay and incentives are included, can now match that of a professor in Johor Baru.
