Lowyat.NET: Latest topics by Eurobeater

Israel sells record $8 bil in bonds despite Oct 7

Eurobeater — Thu, 09 May 2024 20:14:29 +0800

Israel sells record $8 billion in bonds despite Oct 7 attacks, downgrade

JERUSALEM, March 6 (Reuters) - Israel raised a record $8 billion in its first international bond sale since the Oct. 7 Hamas attacks, with very high demand even after Moody's gave Israel its first ever sovereign credit rating downgrade last month.

Needing additional funds to cover a widening budget deficit due to the war against the Palestinian Islamist group, Israel sold $2 billion of five-year bonds, and $3 billion each of 10 and 30-year bonds, the Finance Ministry said on Wednesday.

Analysts at Morgan Stanley had estimated the sale would be $4-6 billion due to Israel's "significant funding needs".

Demand for the dollar-denominated offering launched on Tuesday reached $38 billion, the highest ever for an Israeli international debt issue. Some 400 investors from 36 countries participated, the ministry said, noting the issue would allow for lower financing costs.

Accountant General Yali Rothenberg said the results showed an "unprecedented expression of confidence in Israel's economy by the world's largest international investors".

"The ability to raise debt in the international markets, even during a war, in significant volumes and high coverage ratios, shows the high accessibility of the State of Israel to the markets," he said.

Still, Rothenberg noted, the bulk of Israel's debt raising would take place in shekels in local markets, where demand in bond auctions from institutional investors has also been robust.

Israel's parliament is slated in the coming weeks to approve an amended 2024 state budget with tens of billions of added spending to help finance the war, with the budget deficit being raised to 6.6% of gross domestic product from a prior 2.25%.

Results of the bond offering showed that Israel would pay 135 basis points over comparable 5-year U.S. Treasuries, 145 basis points over 10-year Treasuries and 175 basis points over U.S. 30-year bonds - about 25 to 30 basis points below initial guidance.

U.S. five-year bonds currently yield 4.15%, 10-year Treasuries are at 4.16% and 30-year notes yield 4.30%

While most of Israel's bonds and those issued by its big companies have recovered in price terms from post-October attack sell-offs, the impact remains substantial.

The government's bonds have underperformed the most widely-followed global emerging market bond index by just over 10 percentage points over the last six months and Moody's cut the country's credit rating last month.
BNP Paribas, BofA Securities, Deutsche Bank and Goldman Sachs led the offering.

Sos: https://www.reuters.com/markets/rates-bonds...ade-2024-03-06/

Sustainability not important anymore for finance?

Career advice

Eurobeater — Tue, 18 Oct 2022 09:55:50 +0800

Seeking advice from sifus here. Original post in Jobs and Career but posting here coz got more reach.

I'm currently working for a small bank in Malaysia as a senior exec with salary of gross RM5k pm. I'm a scholar so there is a bond period attached with my employment terms. Basically, if I leave the bank before the bond period, i have to pay back. Amount is uncertain for now but in the thereabouts of RM350k - RM450k

Recently I got an offer from a big bank in SG. Offer is SGD4k. Prob gross. Position is maybe a level lower than my current position but the job scope is a bit different (currently in strategy, but the offer is for risk management, which i have a background in)

Question is, should I jump? The SG offer is tempting, but I'm worried I need to spend nearly half of my SG salary paying back the bond. What's leftover may be a bit difficult to live on, but doable if I really save. I also am tempted by the jump in career since its a bigger bank in SG (one of the 3 big banks) and the job scope interest me more than what I'm doing now.

Update in latest reply

Seeking for advice

Eurobeater — Tue, 18 Oct 2022 09:39:36 +0800

Seeking advice from sifus here

I'm currently working for a small bank in Malaysia as a senior exec with salary of gross RM5k pm. I'm a scholar so there is a bond period attached with my employment terms. Basically, if I leave the bank before the bond period, i have to pay back. Amount is uncertain for now but in the thereabouts of RM350k - RM450k

Recently I got an offer from a big bank in SG. Offer is SGD4k. Prob gross. Position is maybe a level lower than my current position but the job scope is a bit different (currently in strategy, but the offer is for risk management, which i have a background in)

Question is, should I jump? The SG offer is tempting, but I'm worried I need to spend nearly half of my SG salary paying back the bond. What's leftover may be a bit difficult to live on, but doable if I really save. I also am tempted by the jump in career since its a bigger bank in SG (one of the 3 big banks) and the job scope interest me more than what I'm doing now.

Singaporean jail for accident with Malaysian moto

Eurobeater — Sun, 01 May 2022 19:33:42 +0800

Singaporean Lawyer Jailed Two Weeks For Causing The Death Of Malaysian Motorcyclist

A lawyer was sentenced to two weeks in jail on Friday (29 April) for causing the death of a motorcyclist in an accident on Singapore’s Ayer Rajah Expressway (AYE) in 2018.

Singaporean media reported that Laurence Goh Eng Yau’s car skidded off the side of Wong Yew Wai’s motorcycle as he turned to avoid colliding with the vehicle in front of him.

The impact of the collision caused Wong’s motorcycle to slide into the lorry’s lane, thus being run over by the truck.

The deceased, 33, was pronounced dead at the scene.

The scene of the accident along Ayer Rajah Expressway in Singapore on 12 Sep, 2018. (Photo: SGRoadBlocks/Traffic News Telegram)
Goh, now 57, pleaded guilty to one count of reckless driving earlier this month.

He admitted failing to ensure proper traffic conditions and keeping a safe distance from the car in front of him at the time.

Based on a search on Singapore’s Law Ministry website, Goh runs a law firm.

The accident happened near exit 7A at AYE at around 5.20 pm, 12 September 2018.

After a sudden turn, two more cars behind him collided with each other and collided with two cars in front.

Deputy Chief Justice S Jennifer Marie on Friday also handed down a sentence banning Goh from driving for five years.

Those convicted of causing death as a result of negligent acts, without intent to cause death, can be imprisoned for up to two years, fined or both.

People Protest The Judge’s Decision
Outrage poured in across social media following Friday’s indictment.

There was disappointment and surprise as netizens condemned the indictment as a major miscarriage of justice.

Some felt that Goh was basically getting away with murder.

Same But Different
The case drew reference to the situation of Sam Ke Ting, who drove into a group of teenagers riding on ‘basikal lajak’ (illegally modified bicycles) at 3am and killed eight of them.

She was sentenced to six years’ jail and RM6,000 fine for reckless driving.

The court had allowed Sam’s application to stay the execution of the jail sentence and fine imposed by the High Court on 13 April.

She is also released on bail of RM10,000 with one surety pending the hearing of her appeal.

The incident has sparked much discussion about what makes up reckless driving and who is at fault.

https://www.therakyatpost.com/news/malaysia...n-motorcyclist/

[WTS] Katana GF66 Helmet and Katana Figurine Model

Eurobeater — Sun, 23 Jan 2022 23:26:25 +0800

Item(s):
MSI Katana GF66 Helmet and Figurine Model

Package includes:
A MSI Helmet and Katana Figurine. This comes with a purchase of MSI's Katana GF66 Gaming laptop.

Price:
RM300

Dealing method:
COD: Quill City Mall / Anywhere in Central KL / AEON Rawang
Postage: FOC as long as within Peninsular Malaysia

Location:
Central KL or Rawang

Contact method/details:
012-2148782 (WhatsApp)

Item(s) conditions:
Unopened and brand new. Hence the wrapping is still around the box. Bought in mid-Jan 2022.

Picture:

Reason for sale:
Have bought the laptop, but do not need this figurine model. May of be interest to any hardcore MSI fans looking to collect these figurines.

Gin brand asked to change name

Eurobeater — Mon, 15 Nov 2021 22:41:14 +0800

‘Fok Hing’ shocking: UK panel instructs gin makers to change ‘offensive’ name

2

KUALA LUMPUR – Authorities in the UK have instructed a Hong Kong distiller to change the name of its brand after it was found to be offensive.

According to English tabloid Metro, the alcohol industry’s Independent Complaints Panel (ICP) has recently told the owners of Fok Hing Gin to change the brand after ruling that “it’s obvious the intention is to shock and offend those who find swearing undesirable and unacceptable”.

In its defence, the distiller, Incognito Group Limited, maintains the product was named after an infamous street called Fuk Hing Lane in Causeway Bay, Hong Kong, adding the title was an English romanisation of a Chinese phrase that translated as “fortune and prosperity”.

The company said it has also gone as far as changing the word to “fok”, fearing that the original “fuk” was offensive for English speakers.

Regardless, the decision by the ICP is based on comments made by the company in which the latter's playful use of “fok” as a swear word. The company has been seen telling those opposed to the name to “fok off” and posted comments such as “fokthehaters”, Metro reported.

According to the South China Morning Post, the brand went under scrutiny after a licensing officer from the Portman Group, a UK trade body of alcohol producers and brewers, filed a complaint with the ICP.

The ICP’s ruling last Thursday marks an unprecedented decision for a complaint of this nature.

“This is the first time since the addition of the rule on serious or widespread offence that a product’s name and packaging was considered under the rule in terms of offensive language,” ICP chairwoman Nicola Williams was quoted as saying.

“It is not appropriate for marketing materials to purposefully link a name to profanity and no responsible marketing should cause serious or widespread offence.”

The decision was also based on a ruling which made illegal the packaging, promotion, and activity that would cause “serious or widespread offence”, as per a statement by Portman Group.

On Fok Hing Gin’s social media, the company lambasted the “Karens” who were offended by the name.

“We’re genuinely sorry...that you haven’t had the experience of different cultures and their unique diversities. We’d be delighted to show you around Hong Kong one day (if you ever make it past its borders!).”

Despite the snide remark, the company indicated it would be changing the name of the product.

“So no need to get your Primark g-strings twisted, we’ll make sure to update our back label with a more descriptive narrative of our brand story.

“We’re almost out of labels anyways from our award-winning sell-out gin!”

The decision in the UK comes just as Malaysia resolved a weeks-long controversy over its award-winning whiskey brand.

Timah gained national traction after winning multiple international awards last year before it was officially launched on October 7.

Since then, various quarters have slammed the drink maker over its name, saying it is confusing to the Muslims as it bears the short form of the Malay name “Fatimah”.

Some also chastised the branding as insulting, as it resembles that of Prophet Muhammad’s daughter, Saidatina Fatimah az-Zahrah.

The whiskey maker has clarified that the name Timah actually means “tin”, which harkens to the tin mining era during British colonial times, but agreed to a rebrand after facing pressure from various groups, including politicians.

However, on Saturday, Transport Minister Datuk Seri Wee Ka Siong said the government had decided to allow the whiskey distillery to maintain its brand name. – The Vibes, November 15, 2021

====================

Suddenly, our Timah seems quite lucky lel

Malaysia's gambling tax collection - 10 year data

Eurobeater — Tue, 09 Nov 2021 13:58:27 +0800

Was going through the Q&A session transcripts in Parliament when I saw this

So we collect around RM2 - 4 billion in gambling taxes every year. And is put in the Government Consolidated Fund to spend

Why 2019 suddenly the collection so high one ah? Suddenly many people go Genting during that year is it?

Fun fact of the day

How I almost got hit into no light lorry

Eurobeater — Mon, 22 Mar 2021 20:07:35 +0800

The other day I posted a tered on how I almost hit a lorry head on that was driving without headlights.

https://forum.lowyat.net/topic/5118852

Now I managed to get my dashcam video of that near collision incident for all to watch below

The lorry is impossible to see from a distance, only when about to hit, then you can see it zoom past my car.

Farking scary sia I started to turned back in after one car coz I saw headlights in the distance and not the lorry

[YOUTUBE]g9H7w91Amvk[/YOUTUBE]

If I was doing something wrong, pls say so also. At least better to correct mistake now then regret later

EDIT: Got valid critism of me driving a bit too fast. I admit I was, but can't remember the speed, but I had wanted to cut the cars in front faster coz sked opposite lane got car appear while I was cutting. Lesson learnt liao. Lain kali will slow down more when driving this kind of road.

Is it a crime to drive without headlight?

Eurobeater — Tue, 16 Mar 2021 20:11:19 +0800

Ayam almost dieded today, coz got sohai lorry drive with no lights on and I almost bang the lorry head on

I was driving on an unlit two lane road, kampung jalan la. Got a few car in front of me and I want to overtake. I saw the road is dotted line, so I decided to cut the cars on the opposite lane coz I thought opposite lane no car.

Then just as I turned back to my lane after cutting, I saw a lorry suddenly appear in front of me with no lights heading straight towards mai car. And its the big one somemore

Fak. Luckily, I saw it just as I finish overtaking. If I had decided to continue on one second late on the opposite lane, I would have had a head on collision with the lorry.

Am I wrong to cut on dotted line? I feel like lorry salah, coz no headlight. The road don't have street lamp one so if got car driving with no headlight, memang cannot see one

Are the queues in your local BSN branches long?

Eurobeater — Mon, 15 Feb 2021 11:28:27 +0800

Are queues at your local BSN branches this long? Today got BPN payment ah? Why got so many people one compared to other banks nearby?

This is in Rawang btw. I wanted to redeem an SSP but didn't expect so many people also

EDIT:
Managed to get in. Came at 11am but 1.30pm only then I can get served kek. Asked the counter awek and turns out still got people want to collect BPN as cash. Deswai still got so many

Many counter empty though. Just 3 open out of 8

EDIT2:
I also just found out that BSN does not have Instant Transfer / DuitNow and still uses the IBG service and charge me 10 sen somemore. They appear to be the only major bank in Malaysia that has not used DuitNow

Aiyoo, this BSN is like dinosore bank, even their government competitors like Bank Rakyat and Agrobank already have DuitNow and yet this BSN no have yet. No wonder the civil servant all run away to other banks

Why am I receiving MSOS codes onn my phone?

Eurobeater — Wed, 03 Feb 2021 12:50:08 +0800

Recently I've been receiving MSOS codes on my mobile for a card that I do not have. The transactions are all for TNG eWallet transactions between RM 50 and RM100. Have received two such SMS over the past two weeks

MSOS normally applies to Maybank, right? I have their cards, but the card shown on my SMS does not match any cards that I have.

So far when I checked my MBB and TnG accounts, no money was moved. So I'm safe there

Is it somebody accident put my mobile as their number? Or am I being hacked?

Sekian

The drillz

Jump starting a car

Eurobeater — Fri, 29 Jan 2021 19:17:14 +0800

Just asking coz I'm a bodo

When jump starting a car ah, do you guys normally connect the negative terminal of the good batter to the negative termimal of the dead battery?

This is what I thought I need to do at first, but then when I read online, they say this is very dangerous. The negative clamp for the dead car should be on an unpainted metal surface to avoid explosion.

Arrangement recommended online should be like this they say

But when I tried this way, my car cannot start. Only when I connect negative to negative baru got enough power to start the dead car.

So how should I connect? Got battery explode before becoz of this? Never heard of such cases

International corruption fund named after Tun M

Eurobeater — Sat, 23 Jan 2021 01:22:01 +0800

International fund to combat corruption named after Tun M

VIENNA: A fund set up to combat corruption globally has been named the Tun Dr Mahathir Mohamad Fund in honour of the prime minister's efforts to fight corruption.

This was announced by International Association of Anti Corruption Authorities (IAACA) president Ali Fetais Al-Marri at the start of the 10th General Conference and Annual Meeting of IAACA.

Malaysia has donated RM500,000 to the fund to help people who faced repercussions in their efforts to combat corruption and Fettais Al-Marri announced that Qatar, where IAACA is based, will double the contribution.

At the general conference, Dr Mahathir delivered a keynote address entitled “15 years of the United Nations Convention against Corruption, Accomplishments and Prospects”.

“Corruption destroys society. There is a need to fight it. But it is not easy because people are tempted to accept. But we can change the culture by rejecting corrupt practices.

“We believe that organisations like IAACA and international cooperation are very important due to porous borders as money can be moved across borders to other countries. This is money laundering. International cooperation will help in reducing corruption to some bearable degree.

“I do hope this organisation which has 15 years of UN Convention Against Corruption, will continue to be active and members will continue exchange ideas. It is useful for poorer countries because corruption is in their system,” he said.

The conference was held at the Vienna International Centre which houses the UN organisation.

=======================================

At first I thought it was a Tapir Times article, but nope, its seems real

Article is old and is from 2019 btw
https://www.nst.com.my/news/nation/2019/01/...med-after-tun-m

Congratz Malaysia, I guess?

Gaming laptop recommendations

Eurobeater — Sat, 19 Dec 2020 20:17:47 +0800

Am planning to buy a laptop to replace my ageing Lenovo ideaPad (bought 4 years ago. Intel Pentium @1.60 GHz). I'm also not the most tech savvy fella so I may not know what to consider as I never bought a gaming laptop before

Am wanting to use it for casual gaming (Cities: Skylines, Payday 2 and Sims 4) and the occasional demanding titles (Hitman 2, or Forza Horizon 4). I might also sometimes use the computer to do so programming. Nothing too fancy, but should be decent enough to run some fairly long codes.

Bajet around RM 4k - RM 5k. Lower amounts preferred obviously.

Was in LowYat recently and the MSI GF63 caught my eye. Supposedly 10th Gen i5 @ 2.5 GHz with 8GB RAM that cost around RM 3.5k. Has a GTX1650, if I remember correctly.

There was another one but I can't recall the model. Also a MSI brand with Ryzen 7 with also a GTX1650. Price was around RM 4.3k and I'm more drawn to that.

Anyone here got better ideas? Thanks in advance.

Fitch downgrades Malaysia rating to BBB+ from A-

Eurobeater — Fri, 04 Dec 2020 19:30:16 +0800

Fitch Downgrades Malaysia to 'BBB+'; Outlook Stable

TLDR:
- Malaysia debt quite high compared to peers
- Pandemic very bad for our economy
- Growth expected to contract in 2020 and to rebound in 2021

KEY RATING DRIVERS

The downgrade of Malaysia's IDRs reflects the following key rating drivers:

The depth and duration of the COVID-19 crisis have weakened several of Malaysia's key credit metrics. The authorities responded swiftly to the crisis, with material relief measures for affected individuals and businesses. Nevertheless, the impact on Malaysia's economy has been substantial, and has added to Malaysia's fiscal burden, which was already high relative to peers going into the health crisis. The government has secured passage of core legislation to implement relief measures, including the 2021 budget, but, in Fitch's view, lingering political uncertainty following the change in government last March weighs on the policy outlook as well as prospects for further improvement in governance standards.

Measures to contain the domestic spread of the coronavirus, combined with weak investment and low tourism receipts due to the pandemic, have reduced economic activity, as it has in many countries globally. Fitch expects GDP to contract by 6.1% in 2020, before rebounding by 6.7% in 2021 due to base effects, a revival of infrastructure projects and an ongoing recovery of exports of manufactured goods and commodities.

These forecasts remain subject to uncertainty and depend on the near-term evolution of the pandemic, as illustrated by an increase in the number of daily cases since early-October. Next year, the government expects to vaccinate 30% of the population, based on agreements so far with vaccine producers. We forecast growth of 4.6% in 2022, on expectation that Malaysia's diversified economy will deliver strong medium-term growth.

Fitch expects the fiscal deficit to remain higher than pre-pandemic levels, given a continuation of support measures and political pressure for higher spending. The 2021 budget targets a deficit of 5.4% of GDP, from an estimated 6.0% in 2020, and an average deficit of 4.5% of GDP from 2021 through 2023. We believe these targets are achievable. We expect government revenue to remain low at 19.1% of GDP in 2020 ('BBB' median: 31.4%) and dependent on oil production, which the government expects to generate 22% of total revenue this year, including a special dividend from national oil company Petroliam Nasional Berhad (PETRONAS). The low and concentrated revenue base - exacerbated by the removal of the GST in 2018 - has in recent years led the government to draw on dividends of government-linked companies, pending the introduction of new and more sustainable sources of revenue, which Fitch understands are being considered for the medium term.

Government debt metrics have deteriorated due to the pandemic. Fitch expects general government debt to jump to 76.0% of GDP in 2020 from 65.2% of GDP in 2019. The debt figures used by Fitch include officially reported "committed government guarantees" on loans, which are serviced by the government budget, and 1MDB's net debt, equivalent in September 2020 to 12.6% and 1.3% of GDP, respectively. On this basis, the debt burden is significantly higher than the medians of 59.2% and 52.7% for the 'A' and 'BBB' rating categories, respectively. Malaysia's debt is close to 400% of revenue, around three times the peer median. We expect the debt/GDP ratio to remain broadly stable after the pandemic recedes, given the likely fiscal deficit reduction, and low debt service costs, illustrated by an average 10-year yield of 2.7% in November.

Prospects for a further improvement in Malaysia's governance are uncertain in Fitch's view. The new government continues to implement some transparency-enhancing measures launched under the previous coalition, and corruption trials of former officials have continued, but the government's thin two-seat parliamentary majority implies persistent uncertainty about future policies, in Fitch's view. After a significant improvement in 2019, Malaysia's World Bank governance score weakened slightly in 2020, to the 64th percentile, and is closer to the 'BBB' median of 58th percentile than the 'A' median of 76th percentile. Deterioration in governance and continued political uncertainty could dampen investor sentiment, constraining economic growth.

Malaysia's 'BBB+' IDRs also reflect the following key rating drivers:

Malaysia continues to run current account surpluses, which we expect to narrow to 3.4% of GDP in 2021 from 4.2% in 2020, as the import compression due to the pandemic recedes and government spending on infrastructure development is revived. The share of the government's foreign currency-denominated debt is also low, at just 2% of total debt. In addition, the government is still relatively dependent on foreign financing, as foreign holdings of domestic debt are around 24% of the total. This is down from a high of 34% in 2016, and reflects a deep and developed domestic bond market. Uncertainty about continued inclusion of Malaysia in a key bond index remains, and exclusion in 2021 could potentially generate capital outflows.

Malaysia's external liquidity, as measured by the ratio of the country's liquid external assets to its liquid external liabilities, at 95%, is weaker than the 'BBB' median of 182%. Short-term external debt is high relative to foreign-exchange reserves (USD104.6 billion at end-October), although a significant part of this is relatively stable intra-group borrowing between parent and subsidiary banks domestically and abroad, reflecting the open and regional nature of Malaysia's banking sector.

The policy response of Bank Negara Malaysia (BNM), the central bank, has supported the economic environment during the pandemic shock and included cuts in its policy rate this year by a cumulative 125bp to 1.75%. Consumer prices fell by 1.5% yoy in October, given weak economic activity and lower oil prices. Core inflation is still positive, but has gradually slowed to 0.8% from 1.5% in January. Fitch judges that BNM has space for further easing and expects monetary policy to remain supportive of economic activity with another 25bp rate cut in 2021. We expect inflation to become positive again, at 1.5% in 2021, as the pandemic shock recedes.

The banking sector maintains sufficient loss-absorption capital buffers, given the system's common equity Tier 1 ratio of 14.6% in October, and remains liquid with a liquidity coverage ratio of 153%. Moderate earnings pressure is likely to erode some of these buffers, although we expect the major banks to remain profitable in the near term. A blanket six-month moratorium on debt repayment for retail and SME borrowers that began in April 2020 has provided relief to borrowers, but may also mask asset-quality stress, with the system's non-performing loan (NPL) ratio falling to a historic low of 1.4% in 3Q20, from 1.6% in 1Q20. An extension of more targeted relief to individuals and SMEs affected by the pandemic until at least mid-2021 should keep NPL ratios in check, but will continue to partially cloud visibility on asset quality.

ESG - Governance: Malaysia has an ESG Relevance Score (RS) of 5 for both Political Stability and Rights and for the Rule of Law, Institutional and Regulatory Quality and Control of Corruption, as is the case for all sovereigns. Theses scores reflect the high weight that the World Bank Governance Indicators (WBGI) have in our proprietary Sovereign Rating Model. Malaysia has a medium WBGI ranking at 64th percentile, reflecting a recent track record of peaceful political transitions, as well as continued political uncertainty, a moderate level of rights for participation in the political process, moderate institutional capacity, established rule of law, and a moderate level of corruption, although there have been some high-level cases in recent years.

RATING SENSITIVITIES

The main factors that could, individually or collectively, lead to positive rating action/upgrade are:

- Public Finances: A downward trend in general government debt/GDP, for instance due to implementation of a strong fiscal consolidation strategy after the pandemic recedes.

- Structural: An improvement in governance standards relative to peers, for instance through greater transparency and control of corruption.

The main factors that could, individually or collectively, lead to negative rating action/downgrade:

- Public Finances: A further increase in the government debt ratio over the medium term, for instance due to an insufficient fiscal consolidation strategy after the coronavirus shock or crystallisation of contingent liabilities.

- Structural: Deterioration in governance standards, for example indicated by a significantly lower score for the World Bank governance indicators.

SOVEREIGN RATING MODEL (SRM) AND QUALITATIVE OVERLAY (QO)

Fitch's proprietary SRM assigns Malaysia a score equivalent to a rating of 'BBB' on the Long-Term Foreign-Currency (LT FC) IDR scale.

Fitch's sovereign rating committee adjusted the output from the SRM to arrive at the final LT FC IDR by applying its QO, relative to rated peers, as follows:

- Macroeconomic: We have introduced a +1 notch adjustment to offset the deterioration in the SRM output driven by volatility from the pandemic shock, including on GDP growth. The deterioration of the GDP growth and volatility variables reflects a very substantial and unprecedented exogenous shock that has hit the vast majority of sovereigns, and Fitch believes that Malaysia has the capacity to absorb it without lasting effects on its long-term macroeconomic stability.

Fitch's SRM is the agency's proprietary multiple regression rating model that employs 18 variables based on three-year centred averages, including one year of forecasts, to produce a score equivalent to a LT FC IDR. Fitch's QO is a forward-looking qualitative framework designed to allow for adjustment to the SRM output to assign the final rating, reflecting factors within our criteria that are not fully quantifiable and/or not fully reflected in the SRM.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Sovereigns, Public Finance and Infrastructure issuers have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, measured in a negative direction) of three notches over three years. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are based on historical performance. For more information about the methodology used to determine sector-specific best- and worst-case scenario credit ratings, visit [https://www.fitchratings.com/site/re/10111579].

KEY ASSUMPTIONS

The global economy performs in line with Fitch's global GDP forecasts published in November 2020 at https://www.fitchratings.com/site/re/10142389.

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING

The principal sources of information used in the analysis are described in the Applicable Criteria.
ESG CONSIDERATIONS

Malaysia has an ESG Relevance Score of 5 for Political Stability and Rights as World Bank Governance Indicators have the highest weight in Fitch's SRM and are therefore highly relevant to the rating and a key rating driver with a high weight.

Malaysia has an ESG Relevance Score of 5 for Rule of Law, Institutional & Regulatory Quality and Control of Corruption as World Bank Governance Indicators have the highest weight in Fitch's SRM and are therefore highly relevant to the rating and are a key rating driver with a high weight.

Malaysia has an ESG Relevance Score of 4 for Human Rights and Political Freedoms as the Voice and Accountability pillar of the World Bank Governance Indicators is relevant to the rating and a rating driver.

Malaysia has an ESG Relevance Score of 4 for Creditor Rights as willingness to service and repay debt is relevant to the rating and is a rating driver for Malaysia, as for all sovereigns.

Except for the matters discussed above, the highest level of ESG credit relevance, if present, is a score of 3. This means ESG issues are credit-neutral or have only a minimal credit impact on the entity(ies), either due to their nature or to the way in which they are being managed by the entity(ies). For more information on Fitch's ESG Relevance Scores, visit www.fitchratings.com/esg.

https://www.fitchratings.com/research/sover...able-04-12-2020

US pun ada helang dan pipt jugak

Eurobeater — Fri, 20 Nov 2020 16:06:07 +0800

[YOUTUBE]WaXLLKVLzwU[/YOUTUBE]

Go hospital need polis permit?

Eurobeater — Fri, 20 Nov 2020 13:35:52 +0800

Got a quick question to ask the knowledgeable /k

I recently got referred to a hospital quite far from my home in Selangor. Plan to make the trip there, but will encounter road block.

Wanna clarify. Go hospital for medical services need polis permit or not? I have referral letter from my clinic, but not sure if I have to go balai polis and report why I wanna go out of district?

Can /k advise?

INB4 RIP TS inb4 kena wuhaned/covided or what not

OPR maintain at 1.75% by BNM

Eurobeater — Tue, 03 Nov 2020 15:04:23 +0800

Monetary Policy Statement

At its meeting today, the Monetary Policy Committee (MPC) of Bank Negara Malaysia decided to maintain the Overnight Policy Rate (OPR) at 1.75 percent.

The global economy continues to recover, led by improvements in manufacturing and export activity. Latest indicators show that economic activity picked up in most advanced and regional economies, with a more pronounced recovery momentum in PR China. However, recent resurgences in COVID-19 cases have caused some major economies to re-introduce containment measures, although generally less restrictive than earlier measures. This suggests that the global economic recovery will likely remain uneven in the near-term. Financial conditions have improved, although risk aversion remains elevated. The overall outlook remains subject to downside risks, primarily due to the risk of further resurgence of COVID-19 infections which could lead to weaker business, employment and income conditions.

For Malaysia, the latest indicators point towards significant improvement in economic activity in the third quarter. The introduction of targeted measures to contain
COVID-19 in several states could affect the momentum of the recovery in the fourth quarter. Nonetheless, growth for the year 2020 is expected to be within the earlier forecasted range. For 2021, economic activity is projected to improve further. This will be underpinned by the recovery in global demand, turnaround in public and private sector expenditure amid continued support from policy measures, and higher production from existing and new facilities. Nevertheless, the pace of recovery will be uneven across sectors, with economic activity in some industries remaining below pre-pandemic levels, and a slower improvement in the labour market. Downside risks to the outlook remain, stemming mainly from ongoing uncertainties surrounding the pandemic globally and domestically.

In line with earlier assessments, headline inflation is likely to average negative this year given the substantially lower global oil prices. For 2021, headline inflation is projected to average higher. The outlook, however, will continue to be significantly affected by global oil and commodity prices. Underlying inflation is expected to remain subdued in 2021 amid continued spare capacity in the economy.

The MPC considers the stance of monetary policy to be appropriate and accommodative. The cumulative 125 basis points reduction in the OPR this year will continue to provide stimulus to the economy. The MPC will continue to assess evolving conditions and their implications on the overall outlook for inflation and domestic growth. The Bank remains committed to utilise its policy levers as appropriate to create enabling conditions for a sustainable economic recovery.

The meeting also approved the schedule of MPC meetings for 2021. In accordance with the Central Bank of Malaysia Act 2009, the MPC will convene six times during the year. The meetings will be held over two days, with the Monetary Policy Statement released at 3 p.m. on the second day of the MPC meeting.

https://www.bnm.gov.my/index.php?ch=en_pres...ac=5141&lang=en
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Cukur FD still retain same rate

Has anyone ever used Simply Wall St?

Eurobeater — Wed, 28 Oct 2020 00:05:57 +0800

Found this website that performs some pretty neat analysis on stocks all over the world including many of Bursa's stocks. The website is called Simply Wall St. They appear to be a fintech startup based in Australia.

Link: https://simplywall.st/stocks/my

Some pics for its analysis for Top Glove

Has anyone ever used this platform before? Are these stock reports reliable one ah? They look like it to me since I can see their underlying data, but they appear to require a paid plan.

Bijan is now on SPRM's list of pesalah rasuah

Eurobeater — Mon, 26 Oct 2020 12:35:59 +0800

Ofc still dirayu lah

To see more convicted pesalah rasuah from SPRM. Come see for yourself.

https://www.sprm.gov.my/penguatkuasaan/data-pesalah-rasuah