Thursday, January 7, 2010

Top 5 Influential Economic Events In Malaysia for 2010

1st. AFTA

The Asean Free Trade Area (AFTA) is scheduled to start free trade in 2010. Six Asean countries including Malaysia, Indonesia, Philipines, Thailand, and Brunei will spearhead the AFTA while another 4 Asean countries will join in the pact no later than 2015.

Based on the AFTA concessions, the Malaysian Government pledge to rescind import tariff on 1943 type of products,sectors affected including the automobile, garment, fabric, electronic, fishery, agriculture,timber, rubber, & etc.
(Tropical fruit, tobacco, and tobacco products were excluded with import tariff topped at 5%)

What Is It So Influential?
Upon launching on AFTA, we as the Rakyat of Malaysian can enjoy the benefits bring by AFTA which are Price, Quality and Choice. As the free trade environment induce the competition between local manufacturer and foreign manufacturer, quality and low pricing become the key competitive advantage.
However, our government had undertake some counter action by introducing the Goods & Sales Tax to increase the Rakyat's Burden.
So, are we going to pay less or more after the launching of AFTA & GST?
Or everything is gonna be the same?

2nd. Financial Reporting Standard 139

Every listed companies in Malaysia are required to adopt the FRS 139 in their account. The brand new FRS 139 forbid listed companies to include Off Balance Sheet activities to reflect the entire transactions flow within the companies.
At the same time, the price of financial instrument held by listed companies should be on "Mark-to-Market" basis. The adoption of FRS 139 might lead to adverse impacts for Malaysian Listed Companies.

Why Is It So Influential?
Dear equity investors, I am sure everyone knows that the good or bad of annual report result would lead to the fluctuation of share price. Your investment return is bank on the annual report result, start to research for good companies and throw the bad ones. Treat the FRS 139 as an opportunity.

3rd. Higher and higher Electric Cost

The parliment announced on 22th July last year that the electric bill will be revised every two quarters, next revision scheduled at Feb 2010 is just around the corner.
Do you think the electric price will increase again? Yes No? Anyhow, the price of current will only increase and will never mark down.
Moreover, the National Energy Plan are scheduled to release this year. The National Energy Plan will sketch out a guideline towards maintaining the sustainability of energy supply.

Why Is It So Influential?
Renewable energy seems to be the long- term solution toward scarcity of electricity. The delayed 2010  renewable energy policy is being put under the spotlight now. Be it anything, the Rakyat can get something out of a successfully implemented. green policy Perhaps, Malaysian can enjoy the fruit of green technology producing cleaner energy at a cheaper price soon. I hope our government is not going making a foolish decision.

4th. 10th Malaysia Plan

The 9th Malaysia Plan is scheduled to complete at the late 2010. The Economic Planning Unit (EPU) of Malaysia budget RM230 billion for the 10th Malaysia Plan.
The primary objective is to reduce government deficit, increase Malaysian Salary Base, strengthen national security, minimize corruption, improve education standard, improve Rakyat's living standard, rural area development, and improving public transportation system. More and more beneficial policies are under planning and going to roll out soon.

Why Is It So Influential?
It's been a bad year during the 2009.  Issues including the Perak Takeover, TBH's death, the PKFZ's scandal, MCA's internal dispute, and many more unhappy thing happen around the country, yet our government unable to do anything to cooldown the situation. The Rakyat's anger is rising, yet our government is increasing our burden by introducing GST and cancelling subsidy on sugar recently. So, whatever promised in the 10th Malaysia Plan remain as a promise until it's been done.
We will never know how many percent of 10MP budget will be inside the pocket of politicians.
Rakyat!! Wake up now and cast your vote wisely during the next General Election, let the politicians know the power of the Rakyat. Always remember that they needed us more than we needed them.

5th. Consolidation of Banking Industry

The Bank Negara Malaysia (BNM) is going to issue 3 new licenses for foreign commercial banks. Local banking environment would become more competitive that is going to stimulate the merger and acquisition (M&A) activities amng local financial institutions.

Why Is It So Influential?
Recently, Hong Leong Bank is pursuing a deal with EON Capital to acquire the latter. On the other hand, there are rumor that Alliance Financial Group is on a merger deal with EON Capital. Not matter how the situation happen to be, the size of banking institutions are going to grow bigger and larger with parrallel growth in revenue and profit. The banking institutions is still the industry worth investing in. Perhaps, consumers would also benefit from possible lower loan rate.

The End
The above issues are raised by a writer in Oriental Press. I found it is very useful and would like to share with every readers my perception towards the effect of different events happenned around us. If you have your own thinking, please drop a heartful comment sincerely.

Credit to Oriental Press =) Free Newspaper That I Read Every Morning.


kenwooi said...
This comment has been removed by the author.
kenwooi said...

thanks for sharing! i just hope that the electricity rate doesnt go up! =)

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