Bank Negara: 1MDB Takeout US $ 1.83 billion

Assalamualaikum (^_^)

Today we will discuss about the Bank Negara which is 1MBD takeout US$1.83 billion

why?

1.  National Bank has the technical expertise in banking regulation, financial regulation, compliance or infringement

2. Bank country know better what they are doing

3. National Bank has concluded that the consent required under the Exchange Control Act 1953 for the purpose of investments made by 1MDB abroad were based on inaccurate information.

4. National Bank has recommended criminal charges in court against 1MDB

5.  Bank Negara has also cancel permission granted 1MDB 3 under the Exchange Control Act 1953 (ECA) abroad amounted to US $ 1.83 billion and also ordered take-away sea 1MDB US $ 1.83 billion to Malaysia under the Financial Services Act 2013.

 To this day 1MDB not bring home the money.

Nauzubillah..

We hope that the authorities must have to take an actions. Thank you (^_^)

5 The Issues of the Economy

Assalamualaikum (^_^)

Today, we will discuss about the issues of the economy nowadays.

1. The increase in the cost of living

The government raised the price of petroleum (an increase of 20 per cent), electricity (up 15%), sugar (up 30 sen), the price of flour (up 20 sen) and toll rates (minimum 50 per cent) or less will boost the cost of living all people. The latest official inflation rose to 3.4%, the highest in a year. The unofficial inflation / real may triple over 10% per annum.

The average price of a cup of coffee now is RM1.60, RM1.80 price of rice is rolled while a piece of bread has reached RM1.20 excluding GST.

2. The high level of government debt

Government debt levels have increased since 1970. Due to the federal government in 1970, only RM2 billion, in 1999 amounted to RM95 billion but now has reached RM568.2 billion or 53% of GDP is approaching the ceiling of 55%. Foreigners also owns approximately 15% of total debt in the country. This condition can affect the exchange rate of the country.

For the record, the government spent more than RM10 billion a year just to pay interest on debts that have been taken by the Federal Government.

3. The household debt level that harms people

Malaysian household debt doubled to RM750 billion or 76.2% of GDP in July this year. Large fraction is 29% housing loans, vehicle loans, 51%, 15%, personal loans and student loans by 33%.

This means that Malaysians are generally made with wasteful spending and reckless.

If not controlled, five years household debt in Malaysia exceed 100% of GDP means that the country earned income is insufficient to pay the outstanding debt.

4. decades of economic growth slower

The total economy (GDP) in 2014 was RM1.07 trillion. Although the global economy is expected to increase, Malaysia's GDP growth average of the last ten years, only slower by 5% and more driven by domestic demand. Compared to an average GDP growth of 7% in 1990, driven by exports and external sector.

For the record, since 1945 to 1998, Malaysia is one of 13 countries which achieved growth of over 7% for more than 53 years. However, after 1998, economic growth has fallen gradually.

5. The cost of higher government management

From 1970 to 2013, total administrative expenses increased from RM2.2 billion to RM216.2 billion. The largest component is the salary of civil servants.

To note, Malaysia has the highest ratio of civil servants in the world 1.4 million or 10% of the total workforce in Malaysia.

Obama to discuss TPPA and South China Sea in KL

The trans-Pacific Partnership Agreement (TPPA) and the South China maritime and territorial disputes will be among key issues on the table during US President Barack Obama’s visit to Malaysia.

US ambassador to Malaysia Joseph Yun said would also be interested in issues involving the economy, environment, regional security and counter- terrorism besides the “the code of conduct” in the South China Sea.

In this discussion, it will give us many effects and benefits to us especially to our country. There are pros and cons to get a better life. I hope that the government that have done can be good effective to us soon.