At long last...The fruit that Eve Ate!

Well, truth be told. National Geographic has now finally discovered the fruit that Eve ate in the Garden of Eden. See it for yourself! Small wonder!

Down the Totem Pole of Competitiveness

This is a case of 'Malaysia Boleh! in reverse......

The World Economic Forum’s Global Competitiveness Report for 2009-2010 released today show Malaysia’s global competitiveness ranking dropped three positions to 24.

This drop was the result of a much poorer assessment of Malaysia's institutional framework. According to the Report; every indicator in the area had been exhibiting a downward trend since 2007, causing Malaysia to tumble from 17th to 43rd position in this dimension in just over two years.

Switzerland topped the overall ranking of 133 economies, with the US felling one place to second position. Asia continued to feature prominently with Singapore at third and Japan at eighth, and Hong Kong, South Korea and Taiwan all in the top 20.

The report also said security was of particular concern in Malaysia where its ranking dropped 25 levels to 85th.

According to the business community, the potential of terrorism (ranked 97th) and crime (ranked 95th) both imposed and elevated significant business costs.

Also of concern was the budget deficit, which increased in 2008, amounting to almost five percent of Malaysia’s gross domestic product.

On the plus side, Malaysia scored high in most other dimensions particularly in those factors at the top end of the value chain, namely business sophistication (ranked 24th) and innovation (also ranked 24th).

The Report said expectations were high for Malaysia that averaged an impressive seven percent growth per year between 1990 and 2000 and a healthy five per cent since then.

Mirroring this economic success, Malaysia had featured prominently in the competitiveness rankings ever since its first inclusion in 1994.

“Indeed, it remains the most competitive Stage 2 (efficiency-driven) Country,” the Report said.

It pointed that in order to maintain its competitive edge, Malaysia now needed to prepare its smooth conversion into a knowledge-based, innovation-driven economy.

“Improving both the quantity and quality of higher education (ranked 41st) and boosting technological readiness (ranked 37th), particularly information and communication technology penetration, would serve this effort well,” it said.

Unless the political masters are suffering from agoraphobia, there is a wide countryside outside for Malaysia to improve.

Malaysia Boleh!

Predicting Continuing Export Slump

As compared to the 1997 South-east Asian currency crisis, this time Malaysia will find it hard to generate growth using the export model. While Malaysia’s exports are showing positive and encouraging signs amid a continued decline due to weak global demand, prediction has been made that this decline of exports will continue to be so in the next few months.

On Sept 7, Bank Islam senior economist Azrul Azwar Ahmad Tajudin said the year-on-year decline in export for July was less severe than the bank had expected, but the decline in exports remained.

“We still see a sharp decline in export in the next few months,” he told Bernama when asked to comment on the trade figures.

He said Malaysia’s export is likely to see a tentative return to positive territory only towards end of the year.

Bank Islam projected a negative 25.8 per cent decline year-on-year for export in July.

On a year-on-year basis, exports in July decreased by 22.8 per cent to RM48.87 billion, but month-on-month it grew 8.4 per cent. It also was the highest export figure in the first seven months of this year, a statement from the Department of Statistics today said.

On a cumulative basis, exports in the first seven months period decreased by 23.3 per cent to RM299.4 billion, while imports were 24.7 per cent lower at RM232.3 billion.

This resulted in a cumulative trade surplus of RM67 billion for the January to July period, lower than RM81.9 billion registered for the corresponding period of 2008.

Another economist also said that the figures were better than expected.

“Overall, export performance came better than market expectations of -24 per cent (NST poll) and our house forecast of -22.3 per cent,” said Manokaran Mottain, Senior Economist, Economics Research of AmResearch Sdn Bhd.

Manokaran said in July, higher manufactured exports were attributed to stronger export receipts from electrical and electronic (E&E) products, machinery, appliances and parts, optical & scientific equipment, chemicals and chemical products as well as manufactures of metal.

Singapore, China, the US, Japan and Hong Kong were the top five export destinations, accounting for more than 51 per cent of Malaysia’s total exports.

Meanwhile, total imports rebounded by 14.2 per cent month-on-month, largely due to the higher imports of intermediate goods.

Manokaran said as have been expected earlier, regional exports including from Malaysia will be gaining momentum, as reflected by August data on purchasing managers’ index (PMIs), which had strengthened the view of Asia’s recovery in the manufacturing sector.

Global factory business activity expanded in August for the first time since May 2008 in a broad-based revival, witnessed especially in the United States and Japan, a recent survey by JP Morgan showed, he said.

China’s PMI also rose to 54.0 in August from 53.3 in July. The PMIs from elsewhere in this region were also encouraging.

“To some degree, we reckon the economies, which had seen some “stabilisation” earlier are beginning to establish stronger recovery signals head,” he said.

However, for Malaysia, the high-base factor attributed to record commodity prices a year ago, in particular oil prices, would continue to spring surprises this quarter, he said.

“We are expecting stronger improvement beginning October.”

Global semiconductor sales rose 5.3 per cent in July sequentially, reflecting a pick up in demand for products such as notebooks and cell phones, according to the Semiconductor Industry Association (SIA), he noted.

The fifth-consecutive monthly gain is one of the positive indicators that the industry is returning to normalcy levels, as manufacturers replenished inventories in anticipation of stronger sales in the second half-year.

As such, AmResearch believes any sequential increase will be moderately strong given the gradual recovery of demand, he added.

Do we dare to hope? Truly, hope we must!

Surpassing RM7.00 and Rising..

Warren Buffet's second leg up postulation has come early for one specific counter- Genting Berhad.

Last month, it almost touched the RM7.00 psychological barrier. Today it broke through and is running and hopping like a kangaroo on heat!

Shares in Genting Berhad, Asia's largest casino operator by market share, were higher as the stock is seen as a cheaper option for exposure to its Singapore casino business than its unit, Genting Singapore.

Genting shares have gained 4.6 percent to 7.27 ringgit a share on volume of 7.8 million shares by noon.

Genting Singapore was up 4.5 percent at S$1.17.

"The upside in Genting lies in two key angles, 1) the explicit re-rating of Genting Singapore as a subsidiary and 2) the narrowing of the "discount to entry" as a parent (company)," said CLSA in a research note to Reuters published on Monday.

"The current share price is pricing in a value of S$0.63 per share for Genting Singapore and we thus advocate a buy call on Genting Berhad on the premise that investors are paying around 50 percent "discount to entry", said CLSA.

Malaysian gaming stocks are also playing catch-up with their regional peers, which rose sharply last week on reports gaming revenue in Macau, the world's top gambling market, rose to a new high in August, said a dealer from a local brokerage.

PS: Genting went below RM7.00 on 9 September after Genting Singapore announced a S$1 billion rights issue.

The Flavour of the Month

The flavour of the month continues to be Nicolekiss.To date, I do not really know anything about her. One thing I know, she is photogenic and dresses real well. Cheeky,cherubic and pouty; but pretty face she sure is one. I wonder whether she has any dream to be an actress.....



I will just showcase her with the best shots of her(I think).

BJ Media Berhad AGM-Quick Draw and Away

This got to be the fastest AGM I have ever attended. The Chairman, as usual cloistered himself away like Howard Hughes and ask a fellow Director to filled in as Chairman. A Mr. Loh did the honours. The AGM was held on 3 September at the Berjaya Hall at the Bukit Kiara Equestrian Club.

This AGM did not attract any questions whatsoever. After the briefing by the CEO,there was no questions either to ask for more information or for clarification.All the resolutions were passed like clockwork. Before, you know it, the meeting was over and all non-Muslims went for light refreshment.

Every one was happy. Quick, fast and out of the door. And all shareholders and proxies received a golf umbrella each as a door gift. Viva BJ Media!

Gillian Chung-The Tough Return

Like a welcome wind,Hong Kong singer-actress Gillian Chung has returned to the spotlight. She now features in a 'Tough' spring/summer clothing line promotion as well as being ambasadress for Jaz Beer!. Welcome back, Gillian. We want to see more of you. Much, much more.

Look at these pictures of Gillian as her current self!