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News Flash
Issue: 37/2011 01 March 2011

In this issue
GLOBAL NEWS
y y y y y y y y y y y Economists list US budget deficit as No. 1 worry Japan's jobless rate unchanged at 4.9% in January China's US debt holdings hit US$1.16 trillion India Budget Aftershocks in Christchurch Beijing frozen lake China·s population at 1.341 billion Tunisian industry minister resigns US urges Oman to show restraint Robotic Run Singapore maids learn to save water

GLOBAL NEWS
Economists list US budget deficit as No. 1 worry
The massive US budget deficit is the gravest threat facing the economy, topping high unemployment and the risk of inflation or deflation, according to a survey of forecasters released on Monday. The National Association for Business Economics said its 47-member panel of forecasters increased its estimate for the 2011 federal deficit to US$1.4 trillion from US$1.1 trillion in its previous survey in November. "Panelists continue to characterize excessive federal indebtedness as their single greatest concern," with state and local government debt the second-biggest worry, the survey said. It was conducted between January 25 and February 9. The panel's deficit forecast is lower than the Obama administration projection of a record US$1.65 trillion this fiscal year, or 10.9% of US gross domestic product.
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LOCAL NEWS
y y y y y y y y Record plantation commodity exports Oil price upside risk for Malaysia Private sector net financing up 11.5% Abu Kassim is No 4 in global list Call for entries to Malaysia Property Award 2011 Boom gates must be manned India labur RM200 juta kurangkan import Hari terakhir bayar saman kelam-kabut

INDUSTRY NEWS
y y y y y y y y Twitter worth US$4.5 bn Hutchinson ports eye US$5.4 bn IPO Australia miner Resourcehouse eyes Hong Kong IPO Felda Global, TNB in JV for biomass plant Proton falls to 14-month low Kencana Petroleum Secures RM115 Million Contract Sime Darby kaji maju ladang sawit di Cameroon Kedudukan kewangan TIME paling kukuh setakat ini

Japan's jobless rate unchanged at 4.9% in January
Japan's unemployment rate stood at 4.9 per cent in January, unchanged from a month earlier in line with market forecasts, government data showed Tuesday. The number of people out of work stood at 3.09 million, down 140,000 from a year earlier, in the eighth straight month of year-on-year decline, the official data showed.

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Separate data showed job availability had improved from the previous month, with 61 positions available for every 100 job seekers, the health, labour and welfare ministry said.
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census in 2010. A census is carried out once a decade.
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INDIA BUDGET A budget to tackle food inflation
India pledged yesterday to reduce its deficit while ramping up social spending as the government unveiled an annual budget aimed at balancing populism with pragmatism.

China's US debt holdings now hit US$1.16 trillion
China's holdings of long-term US Treasury securities totaled US$1.16 trillion at the end of December 2010, according to an annual revision report released by the US Treasury Department on Monday. The figure was an increase of 30% from an estimate the government reported on February 15. The US Treasury made the change to its monthly report based on more accurate information it obtains in an annual survey. Foreign holdings of US long-term securities reflect demand for US Treasury obligations and other assets including stocks and government agency debt, a key to funding the massive US balance of payments deficit with the rest of the world.
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Population now stands at 1.341 billion
The population grew to 1.341 billion by the end of 2010, the National Bureau of Statistics announced on Monday. The preliminary figure, based on a sample survey, shows China added 6.3 million people last year, up from 1.3347 billion at the end of 2009. The slower growth rate, compared with 2009, has prompted some experts to suggest adjusting the decades-old family planning policy. The current policy limits most urban couples to just one child. A more accurate figure is expected to come out in April, after the government tallies the results of the

High food inflation and a spate of embarrassing corruption scandals have put pressure on India·s ruling Congress Party in recent months, spooking foreign investors and sparking street protests in advance of crucial state elections. In his budget speech before Parliament, Finance Minister Pranab Mukherjee revealed no major policy shifts, but said the muchwatched fiscal deficit would fall from an estimated 5.1% of gross domestic product in the year ending on March 31 to 4.6% in the next fiscal year.
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Aftershocks Christchurch

shake

battered

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News Flash
Issue: 37/2011 01 March 2011

A two-part package worth NZ$120 million will allow employers to pay wages as well as support workers whose employers view their business as no longer viable. The employer subsidy will pay full-time workers NZ$500 and part-time workers NZ$300 per week while the job loss cover will pay full-time employees NZ$400 and parttime employees NZ$240 per week.
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Earthquake repairs could cost New Zealand NZ$20 bn
Repairs to the southern New Zealand city of Christchurch after two earthquakes within the past six months may cost as much as NZ$20 billion, Prime Minister John Key said, as he announced the first package of short-term measures to get the city back on its feet.

Tunisian industry minister resigns
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Tunisia's Industry and Technology Minister Afif Chelbi resigned on Monday from the country's interim government, the official TAP press agency reported. The resignation comes one day following the resignation of the former Prime Minister Mohammed Ghannouchi and in the wake of resurgent clashes between demonstrators and the police during the weekend.
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US urges Oman to show restraint
The United States said Monday it has urged Oman to show restraint and press ahead with reforms after deadly clashes in the strategic Gulf ally, which lies on the busy Strait of Hormuz oil shipping lane.

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Singapore PUB taps on maids to help with water conservation
Domestic maids are a focus of national water agency PUB·s latest Water Conservation Awareness Programme. Fresh clashes erupted between Omani police and protesters on Monday, a day after police killed at least one as the turmoil rocking the Arab world reached the normally calm Gulf sultanate.
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For instance, a video and a handbook in English and Bahasa Indonesia offering watersaving tips published by PUB will be used to train maids in maid-employment agencies. So far, 12 agencies have sent their trainers on a course conducted by PUB and plans to reach out to more agencies over the next few years are in the works.

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News Flash
Issue: 37/2011 01 March 2011

LOCAL NEWS
Record plantation exports commodity

recovery which would affect demand for the commodity.

Malaysia raked in RM113.3 billion from plantation commodity exports last year, the best ever performance, as global demand for vegetable oils, rubber and cocoa butter surpassed supply. To a certain extent, the higher demand was also fuelled by the weakening of the US dollar against the ringgit. ´Higher oil prices amid strong global demand are an upside risk as Malaysia is a large net exporter of oil,µ Nomura International (HK) Ltd told clients in a Feb 25 report. CIMB Research head of economics Lee Heng Guie said for every US$1 rise in crude oil, Malaysia's federal government revenue could increase by up to RM450mil, over two years.
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Private sector net financing up 11.5%
Net financing to the private sector in January increased by RM7.2bil or 11.5% annually versus RM17.4bil or 11.3% in December, driven mainly by increased loans outstanding while private debt securities (PDS) issuances moderated during the month. Loans outstanding rose moderately by 22.2% during the month, said Bank Negara Malaysia (BNM) in a statement yesterday.
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Last year's achievement was 24% higher than 2009's RM91.16 billion. It also surpassed the previous record of RM112.43 billion in 2008
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Oil price upside risk for Malaysia
The price of crude oil which hit US$100 per barrel recently - its first time in more than two years - is an upside risk for Malaysia as a net exporter. What could stop the country from benefiting from its net exporter status is largely a relapse in the global economic

Abu Kassim is No 4 in global list
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Datuk Seri Abu Kassim Mohamed , the chief commissioner of the Malaysian AntiCorruption Commission (MACC), has been named in the top five among 100 influential people in business ethics for 2010 by the New York-based Ethisphere Institute. Ranked fourth on the list, he was adjudged for his role in the government and regulatory practices category. The other eight categories are thought leadership, business leadership, corporate culture, investment and research, design and sustainability, media and whistleblowers, NGOs and philanthropy.
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Award, which will be contested by property development projects from 60 countries. For more information, contact the secretariat at 036203 5090/ 5091 or email fiabcimalaysia@fiabci.com.my.
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Boom gates must be manned
Residents who install boom gates to protect their neighbourhood must ensure that they are manned at all times, Housing and Local Government Minister Datuk Chor Chee Heung said. The gated community and guarded neighbourhood guidelines, approved by the Cabinet last September, also state that the boom gates, or barriers, must not be locked at any time.
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Call for entries to Property Award 2011

Malaysia

The International Real Estate Federation (Fiabci) Malaysia is calling for entries to the 19th Malaysia Property Award 2011. Fiabci Malaysia is accepting entry submissions until March 31 for projects developed in Malaysia between year 2006 and 2010. A total of 14 award categories are offered this year, including Environmental (Rehabitation/ Conservation), Heritage (Restoration/ Conservation), Hotel, Industrial, Master Plan, Office, Public Sector, Purpose-Built/ Specialised Project, Residential (High Rise), Residential (Low Rise), Resort, Retail, and Special Award for National Contribution and Sustainable Development. The projects will be judged based on design, workmanship, impact on the environment, ease of facilities management, financial viability, marketing strategies, benefit to the community and lifestyle improvements. Winners will be announced in midOctober.Winners of this programme will automatically enter the final selection process of the Fiabci International Prix d' Excellence

India labur RM200 kurangkan import

juta

India mengumumkan hari ini ia akan memperuntuk lebih RM200 juta tahun ini bagi penanaman lebih banyak kelapa sawit untuk mengurangkan import minyak sawit, sebahagian besarnya dari Malaysia dan Indonesia. Semasa membentangkan Bajet Persekutuan bagi 2011-2012, Menteri Kewangan India, Pranab Mukherjee, berkata, dana itu akan digunakan untuk menjadikan 60,000 hektar tanah sebagai ladang kelapa sawit dan untuk menyepadukan peladang dengan pasaran.
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Hari terakhir kelam-kabut

bayar

saman

Hari terakhir bayaran saman trafik di seluruh negara hari ini bertukar kelam-kabut apabila sistem dalam talian yang digunakan untuk

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RESTRICTED CIRCULATION

News Flash
Issue: 37/2011 01 March 2011

urusan itu tergendala, ekoran penggunaan yang melebihi kapasiti.

invest in Facebook, an amount that included US$1 billion collected from wealthy private individuals outside the United States.
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Hutchison ports unit IPO eyes US$5.8 bn IPO in Singapore
HUTCHISON Whampoa·s ports unit is looking to raise as much as US$5.8 billion in an initial public offering in Singapore, allowing investors to tap into China·s booming infrastructure business. Situasi itu menyebabkan orang ramai terpaksa menunggu serta beratur panjang berjam-jam lamanya untuk menyelesaikan urusan pembayaran tersebut sama ada di kaunter trafik di balai dan ibu pejabat polis daerah mahupun di pejabat-pejabat pos di seluruh Negara.
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South-east Asia·s biggest listing comes at a time when intra-Asia sea-borne trade is swelling, and global container-shipping firms are putting more ships and resources to serve Asian routes from Europe and North America. The assets of the Hutchison subsidiary, Hutchison Port Holdings (HPH) Trust, are located in Hong Kong and Shenzhen, two of the world·s busiest container ports in 2009 with a total throughput of 39.2 million twenty- foot equivalent units. It would be the first publicly traded business trust backed by port assets, according to the prospectus, and would exceed Malaysia·s Petronas Chemicals· US$4.1-billion listing last year, which has so far been the biggest listing in the region.
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INDUSTRY NEWS
Twitter may be worth nearly US$4.5 bn
JP Morgan Chase·s new fund, aimed at investing in social-media companies, is seeking to buy a minority stake in Twitter that could value the service at close to US$4.5 billion. The US$1.2 billion JPMorgan fund appears to see Twitter as its beachhead in the highly popular social-media sector, much as Goldman Sachs established its presence in the category by raising US$1.5 billion to

Australia miner Resourcehouse eyes Hong Kong IPO
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Australian miner Resourcehouse plans to raise US$3 billion in a Hong Kong initial public offering, a report said Monday, the latest miner to eye a listing in the Asian financial hub. The firm, controlled by billionaire Clive Palmer, began pre-marketing the sale Monday, its third attempt to list in Hong Kong, Dow Jones Newswires reported, citing an unnamed source. During pre-marketing, a company and its bankers gauge investor interest in an IPO and come up with a price range for the deal.
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Shares of Proton Holdings Bhd fell 23 sen to a 14-month low of RM3.86 yesterday, its lowest since Dec 22, 2009, after the national carmaker posted losses in its third quarter ended Dec 31, 2010.

Felda Global, TNB in JV for biomass plant
Felda Global Group and Tenaga Nasional Bhd have formed a 60:40 joint-venture company, FTJ Bio Power Sdn Bhd, and invest RM120mil to set up a plant that will generate electricity using purely oil palm empty fruit bunches (EFB). Automotive analysts also revised downwards their earnings forecast for Proton's current financial year ending March 31, 2011 (FY11) following its poor financial performance.
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Kencana Petroleum Secures RM115 Million Contract From Petrofac
Kencana Petroleum Bhd has secured a contract from Petrofac E&C Sdn Bhd for the engineering, procurement, construction and commissioning (EPCC) of Mobile Offshore Production Unit (MOPU) and Wellhead Support Structure (WESS), worth RM115 million. The contract was secured through its whollyowned subsidiary, Kencana HL Sdn Bhd. Kencana Petroleum, in a filing to Bursa Malaysia, said the MOPU and WESS' EPCC contract was for the Sepat Early Production System off the coast of Terengganu. It is a one-off EPCC contract and is expected to be delivered to the ultimate client, Petronas Carigali Sdn Bhd, within the third quarter of this year. The contract is expected to

The construction of the plant is scheduled to commence soon on a 4.2ha site in Jengka 9, Pahang and be fully completed in December 2012. The plant will be able to generate 12.5 million watts of electricity.

Proton falls to 14-month low

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News Flash
Issue: 37/2011 01 March 2011

contribute positively to the earnings of the company for the financial year ending July 31, 2011 and 2012.
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Sime Darby kaji maju ladang sawit di Cameroon
SIME Darby Bhd, syarikat perladangan senaraian awam terbesar dunia, sedang memperhalusi rancangan mema-jukan ladang sawit seluas 300,000 hektar dengan anggaran pelaburan mencecah RM7.5 bilion di Cameroon berikutan permintaan dan harga kukuh komoditi itu. Ketua Eksekutifnya, Mohd Bakke Salleh, berkata pelaburan itu adalah prospek terbaik untuk kumpulan menambah simpanan tanahnya seluas 640,000 hektar selepas ia memperoleh konsesi ladang sawit seluas 220,000 hektar di Liberia.
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meningkat 130 peratus bagi tahun itu, melonjak daripada RM15.7 juta pada 2009 kepada RM36.1 juta pada 2010. Tidak termasuk penyelarasan butiran luar biasa seperti urus niaga sekali dan pendapatan daripada jualan perniagaan telefon bayarnya pada 2009, pendapatan berbanding meningkat 27 peratus daripada RM249.7 juta kepada RM317.3 juta.
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Kedudukan kewangan paling kukuh setakat ini

TIME

TIME dotCom Bhd merekodkan prestasi kewangan paling kukuhnya setakat ini dengan mencatatkan keuntungan sebelum cukai RM88.9 juta bagi tahun yang berakhir pada 31 Disember 2010, daripada RM33.1 juta pada 2009. Syarikat tersebut berkata, peningkatan itu adalah hasil daripada pendapatan yang bertambah baik diterajui oleh pengembangan perniagaan datanya, terutamanya dalam segmen borong dan lebar jalur global. Disokong oleh peningkatan dalam pendapatan, kumpulan itu juga mencatatkan keuntungan besar daripada operasi yang

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