Some little-publicised news locally: Malaysia may sell bonds soon in its first major foreign debt offering in eight years.
These could be 10-year dollar-denominated bonds.
The offering will be in the region of “billions” of dollars, Bloomberg reported a government official as saying.
Check out the trend of Malaysia’s external debt stock here.
Malaysia’s international reserves stood at RM314 billion at the end of April 2010. Gross external debt was RM265 billion at the end of 2009.
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Wake up people! You may still enjoy your plate of nasi lemak, char koay teow or nasi kandar today hence you think those who bring up matters concerning the dire future of the country are trouble makers! Out to make trouble for our present rulers whilst promoting the opposition.
If you think that then I’m sorry for you and have nothing further to say!
Get real and really look at the bigger picture of where the country is headed. THINK!!!
With UMNO’s current political problems, do you think that they would even consider the GST if they had no choice left to them?
Given the present uncertainty surrounding the Euro zone caused by Greece with similar corruptions like ours, why increase Malaysia’s debt further with another bond issue?
The answer is simple. The country is going BROKE and unless most Malaysians wake up to this fact, it will be more difficult for ordinary Malaysians to correct the excess of the present and past “ketuanan” governments!
Going broke is a reality and nothing we do is going to change that. But what we can do if we consider ourselves true Malaysians is to study and understand what it is that ails our country and put a stop to it – via democratic means!
Very soon, if nothing drastic happens, your nasi lemak will be with half a telur less, char koay teow with no taugeh, and nasi kandar with only 2 veg and kuah only!
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Tipu ! Tipu ! Tipu !
My favourite nasi lemak still selling for RM2.50 with chicken part + egg + cucumber + peanut + ikan bilis + gracious sambal sauce + polystyrene box + plastic bag
No need for big picture. It is just politician tactics to bad mouth the government. Are you Tony Pua fans ???
No worry at all as our 1Malaysia PM will take care for us. Petronas is there. PNB is there. EPF is there. Plus there is new oil field in Malaysia.
In another word, god bless Malaysia !!!
“Jom sertai BN”
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Gerakan K,
Malaysia expected to be a nett oil importer by 2018 latest, need I tell you that, dude?
New oil fileds? Block L & M already Brunei’s property! Do not tell me you are not aware? There goes 320 billions. Ah… cannot blame you as you are from Gerakan and KTK, (he) is your boss. Same species, all kowtows politicians!
God Bless Malaysia, Save Malaysia from BN.
Selamatkan Malaysia!
Jom Sertai PAS, Gerakan K.
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From a purely commercial point of view, it is actually a good time to issue bonds as interest rates are low if denominated in USD or EUR. And if this was to refinance higher coupon bonds issued earlier, than it may result in some savings in debt servicing.
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Dear dear Anil,
This isn’t going to be the FIRST time in eight years Malaysia sells bonds to foreign investors.
Malaysia has been selling bonds to foreigners under various names — Petronas, Telekom Malaysia (now Axiata), TNB, and so on.
Check with Tokyo, Anil, if you don’t believe me. See how much “Samurai Bonds” are circulating under the name of Petronas, TNB and Telekom Malaysia.
TENS OF BILLIONS (of USD, but in denomination of Japanese yen “¥“)
And do not be fooled in to thinking that the proceeds of those bonds are being used by the GLCs.
No.
It’s the Malaysian government which sucks up the liquid assets (cash) of those GLCs forcing those GLCs to take loans from banks and sell bonds, in order to stay afloat.
The consequence is grave. The interests on the bonds and the loans keep adding up.
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The problem is the Opposition in Penang like the impotent Gerakan ,the MCA and the irrelevant MIC still does not realize the implications and the needs to issue bonds.
And one commenter had been raising the question of his hawker food by 20 and 30 cents which will according to him will have a serious impact on the next GE. How laughable?
And UMNO Baru led by Azhar was reported to have caused a stir by raising the May 13th issue. How empty headed and stupid those blokes in the Opposition are, and they talk of strategising for the next GE? If you care to read about what the Opposition in Pakatan led states, they practically have no issues to bring up, they are so short of ideas and petty at best, like complaining their food going up by 20 to 30 cents, while bigger issues like corruptions, mismanagements and the GST are conveniently forgotten by them.
We certainly hope the Opposition in Pakatan states can act as responsible Opposition like PR at Federal level and bring up matters that affects the Rakyat, like what the young turks from PR had been doing, eg. Tony Pua and Liew chin Tong. What have Gerakan, MCA, MIC and UMNO Baru got to offer? The sorts like Gerakan K?
Those in UMNO Baru, MCA, MIC and Gerakan got to introduce their new blood in the coming GE, banking on politicians of the Mahathir era will ensure their total demise. Corruption must be tackled, better financial reforms introduced, transparent meritocracy, better education system, judiciary, MACC the Police, please ask them not to act like cowboys against the red injuns!
We do not see Singapore in the list? Or had I missed out? If Singapore is not in the list, why are they not? Is it not good to go into the bond markets, to borrow from a purely commercial point of view, as it will result in some savings in debt servicing, as the loans are in the USD and Euro? What if the USD and Euro appreciates against the local currency? No chance of the Euro and USD to appreciate against the local currency, ten years from now, inview of rampant corruption, stagnating economy and continuing budget deficits?
Cheers!
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Stop worshiping Singapore !!!
The tiny island already stretched to maximum !!!
Malaysia just showed its 1% potential. Ask opposition leaders to work with the government for the betterment of Malaysia. Always oppose for the sake of opposing has done no good for this country. Demolish the speaker corner now !!!
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Gerakan K,
I agree with you that Opposition leaders need to work with the State Governments. Tell Azhar that, they should work harder to win the hearts of the Rakyat, with performance, actions, not words and intimidations! Certainly not threats of another May 13. Those won’t work anymore! Opposition leaders like Azhar and Toyo should do good if they follow Gerakan K’s advise not to oppose for the sake of opposing. That is not the duty of a responsible opposition! Be responsible, and really, the good governance of the PR leaves no issues for the BN to oppose, or they are so used to being in the Government and they feel embarassed to act as an opposition? Without opposing constructively, do they endorse the PR Government? How can they win back the State Government if they do not work hard? To depend on spins, MSM, television and deception?
See, why should Gerakan or the State Opposition in Penang fear the speakers corner? It is an avenue for the Opposition to speak against the State Government if it is not performing and vice versa. it is good for democracy.
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Gerakan K,
There you go again with your senseless comparison.
Just how can you compare the economy of the world’s largest economy, an economic superpower, a true superpower in every sense of the word?
Malaysia’s GDP is not 1% of USA, and my God, had you made the comparison with Myanmar, it would have been more appropriate, but, instead you chose USA.
Way out bro, way out!
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O,
So what ???
Even your idol country, the US has issue bonds like no tomorrow. Trillion dollar count. Record breaking budget deficit.
No issues in opposition states ???
OK, how about:
1) FDI dropping in Penang ???
2) alleged corruption amounting to RM100,000 monthly in Selangor
(@ Kapar MP (Selangor) gives Selangor MB 72 hours to sack corrupt officials)(http://www.themalaysianinsider.com/malaysia/article/kapar-mp-gives-khalid-72-hours-to-sack-corrupt-officials/)
3) PORR revival ???
4) PICC project ???
5) Botanic garden excellent management ???
6) Local election “sandiwara” ???
7) lies regarding to LGE went to jail ??? (thanks Iron for this. Otherwise people like O will spread it endlessly)
Because you are the opposition supporter, then “SEMUANYA OK” ???
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Gerakan K,
That is the problem with frontline people like you in the Penang State Opposition.
Issues listed by you can be used to devastating effects if you carry it out to the people, not here, because the people here are educated people and they know what is a spin and what is not.
FDI dropped in Penang? Where is your proof? It is expected to gross 4.2 billion and we are just into the second quarter. Can you please furnish the the FDIs for the past ten years? The PR had did well considering the weak economic situation in 08 and 09. How much FDIs did Johore, Malaccca, Negri Sembilan, Terengganu, or Pahang (your prime minister state) attracted? Compare it with Penang and Selangor, it paled in comparison! So woeful bro, despite it being the BN controlled states.
2) Corruption in Selangor? Is it just hearsay or where is the proof? Has the MACC got into action? It is such a big case and if there is any proof than MACC should do its job, and pursue the case without fear or favour, besides it is a PR state and MACC will definitely go for it when they go for RM2,400. Why are they not going for such a huge case if there is any truth?
3) PORR Revival? Where is the proof again? It is a project started by the BN years ago. Nothing new, if the PR were to revive the project. Please furnish proof. Be a responsible Opposition, Gerakan K.
4)PICC project? Well it is a project by the State Government for the betterment of Penang, so what is wrong? Everyone can have their own opinions as to the pros and cons of the PICC. We are living in a democracy and it is good that the State Government allows opposition to the PICC, is it not?
5)Botanic Garden, yes, the problem is the Federal Government want to destroy the pride of Penang. Why huh, Gerakan K? Ask your counterpart in MCA, why they are throwing 7million of the Rakyat’s money to destroy the Botanical Gardens? Better to give the senior citizens, is it not?
6)Local Elections? The ball is in BN’s court, or is it in PR? Who are against Local Elections? PR or BN?
7)LGE going to jail? Did he not go to jail to fight for a Malay family? Not only this, at one time no one in Malaysia dare to venture into Kelantan to save another victim, and who else did? It was Karpal Singh, can you remember, how the girls families spoke in Opposition ceramahs? Or have you forgotten? The girls families spoke in ceramahs in Penang, my dear bro.
So get your facts right before you make an issue out of nothing. Nowadays ah, Gerakan K, the people are well informed and you cannot just shoot your mouth as the … will spilt on your face.
Cheers bro, read up your facts, ya?
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Your entire argument is lame, and you know that.
It’s like pointing to a terminal (4th stage) cancer patient and say “Look, I am still healthier than that guy” when you are on the 2nd stage cancer level.
Wanna compare? Compare with whoever is performing better, not those who are worse than us.
But then, Gerakan K, what can I expect from people like you who worship UMNO?
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