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- Window 7 Home Premium 
- 20 inch LED 

RM 1500 only inclusive of GST
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Interest please contact Mr Tan 017-6470 810.  Limited unit available, grab fast !
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Malta

Malta is a beautiful southern European country in the Mediterranean Sea, which has a rich history and culture. There are amazing sky-high cliffs to climb, fabulous temples to explore, mysterious hidden coves, and lots of wonderful places to go scuba diving. In fact, there are plenty of interesting things to see and to do in Malta and this island country has something for everyone. The historic part of Malta has incredible architecture, great walled cit

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Russian ruble continues recovery, as oil back to $80

The Russian ruble continued its fight back on Friday to move above 46 against the US dollar, as the price of Brent crude slid over the $80 per barrel threshold.
The US dollar has fallen to 45.62 rubles Friday at 3PM Moscow time on the Moscow Exchange. The euro has fallen to 56.69 rubles. The official rate set by the Central Bank of Russia (CBR) for November 22 stands at 45.79 rubles against the US dollar and 57.43 against the euro

Market manipulation of oil prices backfires on those that start it - Putin

The modern world is interdependent and there is no guarantee that sanctions, a sharp fall in oil prices, or the depreciation of the ruble won’t backfire on those who provoked them, says Russian President Vladimir Putin.
"If undercharging for energy products occurs deliberately, it also hits those who introduce these limitations. Problems arise, they will continue to grow, worsening the situation, and not only for Russia but also for our partners, including oil and gas producing countries," said Putin in an interview to TASS.
The Russian leader suggested that the fall in oil prices is due to the sharp increase in the production of shale oil and gas by the United States, but questioned its commercial viability.
“What is the profitability of this production like? It’s from $65 to $83 per barrel. Now when the price of a barrel of oil has fallen below $80, shale gas production becomes unprofitable.” said Putin.
The President said he sees objective reasons for the decline in oil prices.
"The supply has increased from Libya, surprising as it may seem it produces more, Iraq as well, despite all the problems ... ISIS sell oil illegally at $30 per barrel on the black market, Saudi Arabia increased its production and consumption decreased due to a period of stagnation or, say, a decrease compared with the forecasts of global economic growth," he said.
Talking about the Russian economy and the weakening ruble, Putin said the situation with oil prices doesn’t hit the budget as hard as expected.

Oil price slide and sanctions 'cost Russia $140bn'

The falling oil price is costing Russia up to $100bn a year, while Western sanctions have hit the country by $40bn, its finance minister has said.

Anton Siluanov made the comments on Monday at an international financial and economic forum in Moscow.

Reports on Monday suggested Russia could cut its oil production by about 300,000 barrels a day in an attempt to support the oil price.

Opec members meet in Vienna this week where falling prices will be discussed.

Vladimir Putin has said that Russia could suffer "catastrophic consequences" from sanctions, the falling oil price and the sliding rouble, while claiming they would have knock-on effects for other countries.

"The modern world is interdependent. It's far from guaranteed that sanctions, the steep fall in oil prices and the loss of value of the national currency will lead to negative results or catastrophic consequences only for us," the Russian president told TASS, the official news agency, on Sunday.

The European Union and the United States imposed sanctions on Russia following its annexation of the Crimea region in Ukraine and its alleged involvement in eastern Ukraine.
Pressure
Member of the Opec oil cartel may decide to cut production to support prices. Brent crude was trading at $80.25 a barrel on Monday, down 11 cents, while US crude was 10 cents lower at $76.41.

Iran, Libya and Venezuela have urged other Opec members to support oil prices by reducing output, although Kuwait has said that a cut was unlikely.

The oil price has been falling since the summer on abundant global supply, partly due to the US shale boom, and lower demand in Europe and Asia. Brent crude has fallen by more than a third and hit a four-year low of $76.76 a barrel on 14 November.

Continue reading the main story

“Start Quote

The market would question the credibility of Opec and its influence on global oil markets if there were no cut”

End Quote Daniel Bathe Lupus alpha Investment

Daniel Bathe, of Lupus alpha Investment, said: "The market would question the credibility of Opec and its influence on global oil markets if there were no cut."

Saudi Arabia, Opec's biggest producer and exporter, has sent mixed messages about a possible cut. Olivier Jakob, an analyst at Petromatrix, said the Saudis could be influenced by the conclusion of talks about Iran's nuclear programme in Vienna on Monday, which are being extended until next summer.

Russian energy minister Alexander Novak said last week that Moscow was considering cutting its oil output, but said the measure had yet to be agreed.

The rouble gained more than 2% against both the US dollar and euro on Monday, helped by the slight recovery in oil prices.

The currency has fallen by almost 30% against the dollar this year.

Russia's central bank had been spending billions in a bid to prop up the rouble, but said earlier this month that it would limit its intervention

Honda replacing defective air bag inflators

DETROIT: Honda is quietly offering to replace potentially defective air bag inflators across the United States, even though its latest recall for the problem only covers cars in 13 high-humidity states and territories.
The replacement programme for owners concerned about their safety was revealed in documents posted recently by US safety regulators. But Honda doesn't plan to notify customers outside the recall areas.
Honda's action, plus a report of an exploding air bag that injured a Ford Mustang driver in North Carolina, is likely to give more ammunition to lawmakers calling for a nationwide recall of cars with air bags made by Japanese firm Takata Corp.
The air bags can inflate with too much force, blowing apart a metal canister and sending fragments into the passenger compartment.
Takata has blamed the problem on prolonged exposure to high humidity, which can cause the chemical air bag propellant to burn too fast.
At least five deaths worldwide have been linked to the problem, which is under investigation by the US National Highway Traffic Safety Administration and authorities in Japan.
Honda's most recent inflator recall, announced November 6, covers passenger air bags in about 2.8 million vehicles in Alabama, Florida, Georgia, Hawaii, Louisiana, Mississippi, South Carolina, Texas, Puerto Rico, the US Virgin Islands, Guam, Saipan and American Samoa.

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Alliance Bank unit buys 51pc stake in HDBSV

KUALA LUMPUR: Alliance Investment Bank Bhd (AIBB) has signed a conditional share sale and purchase agreement with Hwang-DBS (M) Bhd (HDBS) for the acquisition of its 51 per cent equity interest in HwangDBS Vickers Research Sdn Bhd (HDBSV) for RM393,945.
AIBB is a wholly-owned unit of Alliance Bank Malaysia Bhd (ABMB), which in turn is a wholly-owned subsidiary of Alliance Financial Group Bhd (AFG).
AFG said the acquisition would enhance the group's research capabilities and its institutional broking business by leveraging on DBS Vickers Securities Holdings Pte Ltd's network of overseas clients to execute their trades on Bursa Malaysia via AIBB, in order to further expand the group's investment banking
business, especially the stockbroking institutional business.
"In addition to providing coverage on Malaysian equities, the group will be able to leverage on the capabilities of HDBSV to provide coverage on the regional equities for its institutional clients," AFG said in a filing to Bursa Malaysia today.
AFG said the acquisition was expected to be completed in the second quarter of this year.
"Upon completion of the acquisition, the entire business and operations of Alliance Research Sdn Bhd, a wholly-owned unit of AIBB, will be transferred to and integrated into HDBSV.
"The equities research business of the group will be operated under HDBSV on a 51:49 joint-venture basis with DBS Vickers, to be renamed AllianceDBS Research Sdn Bhd," it said.
The acquisition was not expected to have any material effect on the net assets per share, earnings per share and gearing of AFG for the financial year
ending March 31, 2015, it said.
The principal activity of HDBSV is to carry out research and stock analysis for and on behalf of the shareholders and its related parties.

KL shares close to new high

Last-minute buying, mostly seen in the Finance counters, has pushed up the FTSE Bursa Malaysia KLCI (FBM KLCI) to a new high for this year, dealers said.

At 5pm, the benchmark index stood at 1,855.63, up 3.63 points, beating the previous new high of 1,852.95 on January 2.

The index hovered between 1,847.81 and 1,855.83 throughout today's trading.

When the market closed, Public Bank and Allianz Malaysia finance stocks emerged among the top gainers, adding 52 sen and 36 sen each to RM20 and

RM10.70, respectively.

Public Bank, one of the heavyweight counters, contributed 2.32 points to the key benchmark index, followed by Petronas Gas, with 1.64 points, rising 46 sen

to RM24.88.

Affin Investment Bank vice-president Dr Nazri Khan Adam Khan said today's selling on the local bourse was well-absorbed by the investors.

"Investors are parking sell-order at the 1,850 level. The next immediate resistance level maybe at 1,880," added Nazri Khan, who is also the bank's head

of retail research, told Bernama.

Gainers outpaced losers 420 to 415, while 336 counters were unchanged, 437 untraded and 14 others suspended.

Turnover fell to 2.12 billion shares worth RM2.81 billion from 2.35 billion shares valued at RM2.64 billion on Wednesday.

On the scoreboard, the Industrial Index increased 10.26 points to 3,209.39, the Finance Index surged 111.76 points to 16,817.3 and the Plantation Index

improved 24.15 points to 8,951.57.

The FBM Emas Index gained 22.46 points to 12,856.4, the FBMT100 Index rose 21.46 points to 12,503.99, the FBM 70 jumped 12.45 points to 14,03.36, but the

FBM Ace fell 5.87 points to 6,770.35.

Among actives, Ingenuity Consolidated lost one sen to 8.5 sen, Xidelang shed two sen to 25 sen, but Asian Pac rose two sen to 23.5 sen and Insas earned one

sen to RM1.32.

As for heavyweights, Maybank added one sen to RM9.68, CIMB was four sen higher at RM7.25, but Tenaga Nasional lost 44 sen to RM11.30 and Axiata slipped

two sen to RM6.71.

Main market volume narrowed to 1.58 billion units worth RM2.66 billion from 1.69 billion units valued at RM2.49 billion yesterday.

Turnover on the ACE market fell to 500.4 million shares worth RM136 million from yesterday's 610.62 million shares valued at RM137.58 million.

Warrants advanced to 38.67 million units valued at RM9.29 million from 37.81 million units worth RM8.34 million on Wednesday.

Consumer products accounted for 246.76 million shares traded on the Main Market, industrial products 233.68 million, construction 83.67 million, trade and services 441.24 million, technology 77.21 million, infrastructure 11.25 million, SPAC 63.51 million, finance 104.86 million, hotels 473,000, properties

296.99 million, plantations 15.78 million, mining 58,100, REITs 6.63 million and closed/fund 94,700

Malaysia interest rate swaps reach 2-year high

Malaysia's one-year interest-rate swaps reached the highest level since 2011, signaling the central bank may increase borrowing costs at least twice in 12 months as inflation accelerates.

Consumer-price gains quickened to a 32-month high of 3.5 per cent in February, after the government raised fuel and power tariffs to rein in the fiscal deficit. Prime Minister Datuk Seri Najib Razak will introduce a consumption tax in 2015 and targets a 15.6 per cent reduction in subsidies to RM39.4 billion (US$12 billion) in 2014 for items such as sugar and cooking oil, according to a Finance Ministry report released in October.

"Inflation is rising fast due to administrative measures and the forthcoming goods and services tax," said Wee-Khoon Chong, Singapore-based head of rates strategy for Asia ex-Japan at Nomura Holdings Inc. "We expect Bank Negara Malaysia to hike twice this year to 3.50 per cent from three per cent."
One-year swaps held at 3.50 per cent as of 5:05pm in Kuala Lumpur, after rising two basis points to that level late yesterday, according to data compiled by Bloomberg. That's the highest since July 2011. The contracts advanced 11 basis points this year.
The yield on the 3.172 per cent government bonds maturing in July 2016 was steady at 3.34 per cent. The ringgit dropped 0.4 per cent, a second day of declines, to 3.2839 per dollar.
Bank Negara Malaysia has kept it benchmark interest rate at three per cent since May 2011 even as inflation accelerated. It next meets to review policy on May 8.
"Given the nature of factors behind the increase in inflation, monetary policy is not the best policy tool to manage the situation," the central bank said in its annual report in March. "Nevertheless, higher cost-push inflation could lead to inflation expectations becoming unanchored and could, in turn, lead to wage growth that is not consistent with productivity growth."
Southeast Asia's third-largest economy may grow 4.5 per cent to 5.5 per cent in 2014, after expanding 4.7 per cent last year, the central bank said in the March 19 report.
Three-year Malaysian sovereign debt offers a real yield of minus 0.12 per cent, after accounting for inflation, according to data compiled by Bloomberg.
"The real interest rate has been negative, and Bank Negara won't tolerate that for long," said Kumar Rachapudi, a Singapore-based strategist at Australia & New Zealand Banking Group Ltd, who predicts the central bank will tighten policy by 50 basis points in the second half.
Bank of America Merrill Lynch has moved to receive two-year Malaysian swaps from the five-year tenor, and still wants to position for a less hawkish stance by Bank Negara than what's been priced in, Hong Kong-based strategist Albert Leung wrote in a research note yesterday.
One-month implied volatility in the ringgit, a measure of expected moves in the exchange rate used to price options, rose four basis points, or 0.04 percentage point, to 6.68 per cent

Rubber prices close lower

KUALA LUMPUR: Malaysian rubber prices closed lower today following a statement by the Thai Agriculture Minister Yukol Limlaemthong that the Thai Government is planning to sell its 200,000 tonnes of rubber stockpile, a dealer said.

He said the downtrend was also in sync with the Tokyo Commodity Exchange (TOCOM).

At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR20 declined 15.5 sen to 601 sen a kg while latex-in-bulk eased 2.5 sen to 495.5 sen a kg.

The unofficial closing price for tyre-grade SMR20 was down by 10 sen to 598.5 sen a kg and latex-in-bulk was two sen lower at 495 sen a kg.--

Brent at 5-month low below US$105

LONDON: Brent crude eased further under US$105 on Thursday - to its lowest since November - as oil dealers anticipated a rise in Libyan supply after the government neared a deal with rebels to reopen oil ports.

Brent has dropped more than US$3 this week, narrowing its gap with the US oil benchmark - a closely watched and heavily traded spread - to the slimmest since September.

Brent crude slipped 12 cents to US$104.67 a barrel by 0955 GMT. US crude, or West Texas Intermediate (WTI), fell 36 cents to US$99.26 a barrel.

Hopes were lifted for an end to an eight-month standoff that dried up oil exports and revenue in Libya as a government spokesman said an agreement with rebels to reopen key oil ports could be finalised in two to three days.

The restart of Libya's eastern oil ports could release about 600,000 barrels per day (bpd) of crude, although some analysts remained cautious.

"I won't rule out the possibility that it might be another empty promise but it definitely has an impact on market sentiment," Phillips Futures analyst Tan Chee Tat said.

Libya's crude output has fallen to around 150,000 bpd from 1.4 million bpd in July when a wave of protests started across the north African country, whose proximity to Europe just across the Mediterranean makes it a strategic energy supplier.

In the short term, demand for Libyan oil is likely to be limited due to reliability issues, while shipping and insurance costs are expected to rise in light of the recent hostilities.

US crude losses were checked by a surprise drop in inventories last week and as stockpiles at WTI's delivery point in Cushing, Oklahoma, fell for the ninth week, Energy Information Administration data showed.

Brent's premium to WTI stood at US$5.42, off US$4.81 reached on Wednesday, its narrowest in more than six months.

Oil may draw support from data showing US companies stepped up hiring in March, offering fresh evidence the economy was regaining momentum after a weather-driven lull over the winter.

Short-term rates close steady

KUALA LUMPUR: Short-term interbank rates closed steady today following Bank Negara Malaysia's (BNM) intervention to absorb surplus liquidity from the financial system.
The liquidity surplus in the conventional system fell to RM21.283 billion from RM33.968 billion estimated in the morning, while in the Islamic system, the excess declined to RM3.102 billion from RM9.671 billion earlier in the day.
In the morning, BNM called for one range maturity auction, one Islamic range maturity auction and one Commodity Murabahah Programme.
BNM also conducted a conventional money market tender for RM20.1 billion and a RM3.1 billion Al-Wadiah money market tender, both for one-day money.
The overnight rate stood at 2.94 per cent while the one-, two- and three-week rates stood at 3.02 per cent, 3.06 per cent and 3.08 per cent, respectively.-

KL shares lower mid-afternoon

Shares on Bursa Malaysia were slightly lower at mid-afternoon today, dampened by losses in selected heavyweights, dealers said.

At 3pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index eased 1.32 points to 1,850.68, after opening 2.32 points higher at 1,854.32.

Of the heavyweights, Tenaga Nasional and PPB Group emerged as the top two losers, declining by 36 sen and 28 sen each to RM11.38 and RM16.12,

respectively.

Losers led gainers by 378 to 377, with 330 counters unchanged, 523 untraded and 14 others suspended.

Turnover stood at 1.4 billion shares worth RM1.55 billion.

On the scoreboard, the Industrial Index earned 0.62 of a point to 3,199.75 and the Finance Index surged 73.01 points to 16,778.55.

The Plantation Index, however, fell 23.23 points to 8,904.19

The FBM Emas Index decreased 1.33 points to 12,832.61, FBMT100 Index lost 5.7 points to 12,476.83 and the FBM Ace slipped 1.52 points to 6,774.7.

The FBM 70, however, rose 6.17 points to 14,047.08.

Among actives, Ingenuity Consolidated erased one sen to 8.5 sen and Xidelang eased half a sen to 26.5 sen.

Asian Pac added 2.5 sen to 24 sen and Insas increased three sen to RM1.34.

Of the heavyweights, Maybank was flat at RM9.67 and Axiata dipped three sen to RM6.70. CIMB added two sen to RM7.23 and Sime Darby went up one sen RM9.27.--

EPF launches new mobile app

KUALA LUMPUR: The Employees Provident Fund (EPF) has launched a mobile application called "EPF i-Akaun" to cater to growing demand in the electronic delivery channels.

The retirement savings fund said the in-house developed mobile application was now available for smartphones and tablets with Android version 2.2 and above.

It can be downloaded for free from Google Play Store.

"At this initial stage, the application carries the basic features and in the near future, we will incorporate other EPF services to offer even greater convenience to our members," said EPF deputy chief executive officer for operations Datuk Ibrahim Taib in a statement.

The new mobile application is equipped with an online calculator to allow members to calculate their estimated yearly EPF contributions and other functions such as how much they are allowed to withdraw for housing withdrawal.

Besides, the mobile application also allowed members to access their profile and latest news on the EPF

Local SMEs bags RM3.33b in sales at OTC Asia

KUALA LUMPUR: Small and medium enterprises (SMEs) secured sales worth RM3.33 billion at the Offshore Technology Conference Asia, the first to be held in Asia.

Twenty-five local SMEs participated at the four-day conference from March 25 held at the Kuala Lumpur Convention Centre, the Malaysia External Trade

Development Corporation (Matrade) said.

Among the oil and gas products sourced were equipment for oil and gas refineries, oilfield chemicals, pipelines, anti-corrosion chemicals, case tubing and pressure vessels.

For the oil and gas services, the SMEs offered Hydrogen Sulphide (H2S) safety management, engineering designs, cleaning, repair, maintenance of

pressure vessels and storage tanks, pigging services, logistics, non-destructive tests and fire and gas detection system, the national trade promotion agency

said in a statement.

At the conference, Matrade also coordinated two memoranda of understanding signed between Tekno Logam, Japan Mate and Neuron Japan; and Oilfield Technical Inspection and Sky-Futures Partners Ltd.

The signing was witnessed by International Trade and Industry Minister Datuk Seri Mustapa Mohamed and Matrade chief executive officer Datuk Wong Lai Sum.

Matrade received positive response from many foreign buyers for the high quality and expertise of Malaysian companies in supplying various oilfield and downstream products and services.-

Tin price closes slightly higher

KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) closed slightly higher today at US$22,890 a tonne, up by US$40 on mild buying support, a dealer said.

He said despite the KLTM's uptrend, it was still underperforming in contrast to the London Metal Exchange (LME), due to lower demand.

"This is reflected in the smaller turnover and premium between the KLTM and LME. Sellers also seem to be adjusting to the poor demand which is reflected in the lower offerings," he added.

Meanwhile, the tin price on the LME increased by US$25 to US$23,000 a tonne.

On the local front, bids totalled 28 tonnes against the 20 tonnes offered.

Turnover rose to 28 tonnes from 21 tonnes today, with buyers mainly being the Japanese, Europeans and locals.

The premium between the KLTM and the LME slightly increased to US$295 a tonne from US$280 a tonne yesterday. --

MIDF neutral on banking sector for 2014

KUALA LUMPUR: MIDF Research remains neutral on the banking sector as it expected loans growth for 2014 to be moderated about 10 to 11 per cent on the back of a Gross Domestic Product (GDP) growth forecast of 5.0 per cent.

In a note today, MIDF said it continued to expect consumer loans growth to moderate in 2014 due to higher inflation and tightened measures by Bank Negara

Malaysia to manage household debts.

"Nevertheless, we expect business loans growth to trend higher than in 2013 on the back of an improvement in external trade which will offset the moderation

in consumer loans growth," said MIDF.

The research house said it expected more pressure from the liabilities side of banks, adding that the sector's liquidity turned tighter in the fourth quarter of 2013 with a rise in loans-to-deposit ratio.

"Hence we expect competition for deposits to be more intensive," it said.

Non-interest income growth would remain challenging as uncertainties continue to surround capital market activities.

Moving forward, credit cost is also likely to trend higher due to lower recovery as well as due to higher collective impairment allowance (CA) of some banks amid the new minimum CA ratio requirement of 1.2 per cent by the central bank, it said.

MIDF maintained a buy call on Maybank with a target price of RM11.00, RHB Capital Bhd (RM9.50) and Hong Leong Bank (RM16.50).-

HSBC maintains Malaysia's GDP forecast

KUALA LUMPUR: HSBC Global Research is maintaining its Gross Domestic Product (GDP) growth forecast for 2014 and 2015 at 5.2 per cent and 5.0 per cent, respectively, saying the pick up in growth will be boosted by positive net exports.

"This year's expansion may appear to be faster than 2013's 4.7 per cent, but sequential growth each quarter should actually be slower.

"We expect average quarterly growth of 0.9 per cent over 2014 versus a 1.2 per cent average for 2013 and a trend pace of 1.1 per cent," the research firm said in a note.

HSBC also said the recovery cycle in Malaysia's exports would be underpinned by higher shipments for both manufactured products and commodities.

Growth, however, would likely be modest, given HSBC's view for modest recovery in the United States and Europe, as well as, stable growth in China.

But, it will likely still outstrip the rise in imports, where gains should be tempered by a noticeable weakening in domestic demand, it added.

Domestic slowdown would likely reflect the impact government fiscal consolidation efforts have on both public and consumer expenditure.

Hike in subsidised fuel prices last September coupled with further fiscal consolidation this year should result in Malaysia's deficit narrowing further to 3.5 per cent of GDP against the 3.9 per cent registered last year.

"As evident by cuts to sugar, fuel and electricity subsidies over the past few months and plans to restructure the revenue base through a six per cent Goods and Services Tax in April 2015, the government remains committed to fiscal consolidation," it added.

On inflation, HSBC expected it to average around 3.2 per cent this year, assuming no changes to fuel prices, and this was in line with Bank Negara

Malaysia's forecast of between 3.0 and 4.0 per cent. -