Financial Roundup: Jan 20, 2015

Malaysian & World Financial Daily Roundup: Malaysia Budget 2015 revision; Asian currencies fall; Ellon Musk & Google SpaceX Satellite Internet; Riana Dutamas (IJM Land) Announced; Factor C!

Malaysian Budget 2015 Revision Highlights:

  • To counter shortfall RM13.8b mainly from crude oil prices est USD55 vs forecast USD100 per barrel
  • Deficit 3.9% (instead of forecast 3%). Fiscal measures to reduce deficit to 3.2%
  • Confident of acheving GDP growth 4.5-5.5% (Earlier forecast 5-6%))
  • 2015 National Service stopped saving RM400mil
  • Electricity tariff increase postponed
  • Waiver of visa fee (0 payment, not visa waiver) for tourists from China to boost tourism
  • Levy on foreign workers to be reviewed
  • Priority in project tenders to local contractors registered with CIDB
  • Local contractors given task of repair works on flood-hit areas
  • Increased promotion of Malaysian-made goods
  • Extending mega sales duration nationwide
  • Encouraging domestic tourism via competitive flights pricing
  • Gas price hike for industrial sector postponed
  • High priority projects to continue (e..g MRT Line 2, LRT 3, KL-SG High-Speed Rail) but low impact projects may be deferred
  • SME Bank to introduce SME-Go (an export programme for SMEs)
  • In 2015 May, 11th Malaysia Plan (11MP) will be tabled
  • More info:
Asian currencies largely fall except China Yuan
Tech: Elon Musk’s SpaceX mega satellite internet plan
Properties: Riana Dutamas Announced
Self-Development: Forget MBTI?! What is Factor C!?
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