Disusun oleh Perpustakaan, UPP

Edaran Terhad

●26hb - 28hb November 2016●

The Star

RUBBER 2 6 NOV 2016KUALA LUMPURThe Malaysian rubber market closed mixed to lower yesterday on a slight drop in crude oil prices, a dealer said.

The dealer said the lower crude oil prices in syn­thetic rubber being cheaper, hence, lowering demand for natural rubber.

The benchmark Brent Crude and US West Texas Intermediate each fell 1.2% to US$48.42 per barrel and US$47.41 per barrel, respectively.

According to the dealer, the fall in local rubber prices was capped by the weakening ringgit, which was traded at RM4.460 against the US dollar at 5 pm.

At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 fell 39 sen to768.0 sen per kg, while latex in bulk rose 1.5 sen to578.0 sen per kg.

The unofficial physical price for tyre-grade SMR 20 declined 12 sen to 768.0 sen per kg, while latex in bulk stayed fiat at 579.0 sen per kg. - BernamaSMR PRICES FROM MRB IN SEN A KILO: NOV 25Offer Price Noon sell Closing sell

Sen/Kg US Cents/Kg Sen/Kg US Cents/KgSMR CV 876.50 199.10 873.00 198.30SMR L 833.50 189.35 829.S0 188.45SMR 5 780.00 177.20 780.00 177.20SMR GP 777.00 176.50SMR 10 770.00 174.90 770.00 174.90SMR 20 768.00 174.45 768.00 174.45CENTRIFUGED LATEX - LOCAL PRICE (ISO 2004) IN MALAYSIANSEN/KG(WET)Offer Price Noon sell Closing sellLatex in bulk 578.00 579,00Note: Effective from Jan 2, 2014, MRB will publish only the sellers'offer price.

FARMGATE LATEX PRICE:Latex CuplumpLow High Low High

(sen/kg) (sen/kg)Peninsular 630.00 720.00 331.00 370.00Sabah 650.00 650.00 300.00 360.00Sarawak - - 179.00. 345.00

US$Low High

Sabah 320.00 385.00Sarawak 286.00 571.00Source: Malaysian Rubber Board

AT A GLANCECOMMODITIES (NOV 25) ____________________________

Tin (per tonne) US$21,100 -US$300Gold (per gramme) RM165.12 +RM0.61CPO Futures (per tonne) Dec RM3.042 +RM32US$ CPO Futures (per tonne) US$681.50Rubber (per kg) SMR 20 768.00 sen -39 senLatex 578.00 sen +1.5 senNOV 24Nymex Oil Jan (per barrel) Closed

EXCHANGE RATE Tlle Star 2 6 NOV 2016Bank Negara's best available quotations by commercial banks of Kuala Lumpur at 5pm on Nov 25, 2016 UNITS OF FOREIGN CURRENCY PER UNIT OF MALAYSIAN RINGGIT_________________ _____________________________

Buying OD Selling ODUS dollar: 0.2237 0.2242Sterling: 0.1800 0.1804Singapore dollar: 0.3194 0.3202Yen 100: 25.2461 25.3049Euro: 0.2111 0.2116Chinese Renminbi: 1.5469 1.5509Ringgit Malaysia per foreign currency

OPENING RATES BY MAYBANK ON NOV 25, 2016___________

SELLING BUYING BUYINGTT/OD TT OD

1 US Dollar..................................4.5210 4.4070 4.39701 Australian Dollar.....................3.3620 3.2570 3.24101 Brunei Dollar...........................3.1640 3.0660 3.05801 Canadian Dollar.......................3.3560 3.2580 3.24601 Euro...........................................4.7810 4.6430 4.62301 New Zealand Dollar................3.1880 3.0620 3.04601 Papua N Guinea K in a.............1.5320 1.2890 1.27301 Singapore Dollar.................... 3.1635 3.0660 3.05801 Sterling Pound.........................5.6210 5.4880 5.46801 Swiss Franc..............................4.4430 4.3320 4.3170100 UAE Dirham.....................124.8900 118.1900 117.9900100 Bangladesh Taka.................5.7940 5.4660 5.2660100 Danish Krone.....................66.0400 60.6500 60.4500100 Hongkong Dollar...............59.1400 55.9800 55.7800100 Indian Rupee.......................6.7050 6.2800 6.0800100 Indonesian Rupiah..............0.0347 0.0312 0.0262100 Japanese Yen.......................3.9910 3.8610 3.8510100 Norwegian Krone..............54.1500 49.7200 49.5200100 Pakistan Rupee .................. 4.4000 4.1200 3.9200100 Philippine Peso....................9.2000 8.6400 8.4400100 Qatar Riyal.......................125.6700 119.5400 119.3400100 Saudi Riyal.......................122.1000 115.9200 115.7200100 South Africa Rand.............32.8700 30.2600 30.0600100 Sri Lanka Rupee..................3.1400 2.8800 2.6800100 Swedish Krona..................50.5500 45.9600 45.7600100 Thai Baht............................13.5500 11.4800 11.0800

Bertta Harlan

2 5 NOV 2016

GETAH V39senB 25 November 2016

Pasaran getah Malaysia di: tutup bercampur-campur

semalam berikutan penuru- nan harga. minyak mentah, kata peniaga.

Peniaga berkata, harga mi­nyak mentah yang rendah mendorong getah sintetik men- jadi lebih murah, sekali gus menyebabkan pemiintaan ge­tah asli berkurangan.

Penanda aras, minyak men­tah Brent dan West Texas In­termediate AS masing-masing susut 1.2 peratus kepada ASS48.42 satu tong dan AS$47-4i satu tong semalam.

Menurut peniaga, penuru- nan harga getah tempatan di- hadkan oleh kelemahan ring­git, yang diniagakan pada 4.460 berbanding dolar Amerika Sya- rikat, pada jam 5 petangini.

Pada tengah had, harga fi- zikal rasmi Lembaga Getah Ma­laysia bagi gred tayar SMR 20 susut 39 sen kepada 768.0 sen sekilogram, manakala susu ge­tah pukal meningkat 1.5 sen kepada 578.0 sen sekilogram.

Harga fizikal tidak rasmi bagi gred tayar SMR 20 susut 12 sen kepada 768.0 sen sekilogram, manakala susu getah pukal ti­dak berubah pada 579.0 sen sekilogram. BERNAMA

o o m

2 B NOV 2016

Tingkatkan pelaburan, kerjasama ekonomiKUALA LUMPUR 25 Nov: - Da- Malaysia akan terus mengecapi tuk Seri Najib Tun Razak pertumbuhan ekonomi yang berkata, Malaysia perlu lebih pesat dan mampu mem- mengambil langkah proak- buka peluang pekerjaan yang tif untuk mengekalkan mo- banyak kepada rakyat. mentum perdagangan supaya “la sangat penting bagi pelaburan asing tetap masuk meningkatkan taraf hidup dan terus mendapat akses ke- rakyat,” katanya melalui cata- pada pasaran luar negara un- tan di laman blog najib.razak. tuk mengeksport barangan. com hari ini.

Disebabkan itu, kata Per- Menurut beliau, beberapa dana Menteri, beliau kini aktif negara maju dupia seperti dalam usaha mencari pelabur Amerika Syarikat dan Britain serta meningkatkan kerjasa- kini ingin meningkatkan dasar ma ekonomi dengan negara- perlindungan ekonomi di ne- negara lain bagi meningkat- garam ereka. kan pelaburan dan membuka “Apabila perkara tersebut pasaran eksport untuk Malay- berlaku, ramai pelabur berang- sia. gapan bahawa aliran taburan

Najib berkata, ini kerana tunai khususnya di negara-ne- dalam era globalisasi perda- gara Asia akan mula perlahan. gangan antarabangsa adalah Kesannya, kita lihat banyak sangat penting dalam m emacu negara menerima tempias ke arus pemodenan negara. atas pasaran saham serta nilai

Katanya, sektor eksport mata wang mereka dan Malay- negara sangat pesat di mana sia tidak terkecuali,” jelasnya. barangan dan perkhidmatan Beliau memberitahu, jum - sangat tinggi permintaan- lah pendapatan negara telah nya di pasaran antarabangsa, berkurang kira-kira RM40 malah telah menjana penda- bilion akibat kejatuhan harga patan yang sangat lumayan minyak mentah dunia dan dan membuka puluhan ribu jika negara tidak mengekalkan peluang pekerjaan. aktiviti perdagangan antara-

“Usaha mencari pelaburan bangsa pada kadar yang sihat, dan meningkatkan kerjasama kesannya akan lebih ketara ekonomi ini berjalan lancar dan terhadap pendapatan.

The Star 2 6 NOV 2016

__ ® Bank IMegara needs'handM. SHANMUGAM

holding1 strategy for ringgitemerged following the falling value of the ringgit, what appears to be dear is BankNegara taking concrete steps to develop the having to endure delays, and filling up many cheap cost. the domestic market only increased afterforeign exchange (forex) futures market forms. At the moment, there are two things that Nov 11 when Bank Negara imposed tightwithin the country. No doubt, "dynamic.hedging-’ borders on favour the offshore market when it comes to scrutiny on the movement of the green-

This is an integral part of the central speculation. But then, every capital market hedging - the ease of doing business and back,bank’s objective to diminish the influence of has to have an element of speculation to gar- more attractive rates. However, a longer-term solution is forthe offshore trading of the ringgit in a plat- ner interest. Speculation adds to the volume When we talk about the ease of doing Bank Negara to intervene and supply the USform known as tire non-deliverable forward of transactions and is healthy if not exces- business, the NDF market does business with dollar at competitive rates to the local finan-(NDF) market. sive. no questions asked. It also offers “depth” and cial institutions to price tire hedge competi-

Towards this end, Bank Negara last week If there is excessive speculation, then Bank range in hedging positions. tively compared to the offshore market,announced measures that would make it Negara as the guardian of the ringgit has to As for “attractive rates”, it means that a This will reduce the reason for companieseasier for hedging activities to be carried out step in. customer gets a better rate for the US dollar to hedge their exposure in the offshore mar-in the domestic market. Both the measures announced by the gov- in the NDF market compared to the domestic ket.

It said that approvals would be given to ernor are only the start of a tedious journey market. This is only to be expected because This “hand holding” strategy to kill off thefinancial institutions to carry out the hedging for Bank Negara to reduce the NDF market’s the NDF market is a US dollar-settled market NDF market is not new. It was used-by tireactivities in the local market with regards to influence on the exchange rate in the domes- and there is ample supply of the greenback. Royal Bank of Australia (RBA) to “kill” off thethe US dollar and China's yuan without the tic market. In the domestic market, at the moment, trading of the Aussie dollar in the NDF mar-need to furnish documents. It represents convenience for local export- Bank Negara is the only party supplying the ket prior to 1983.

The customer only needs to give a declara- ers, importers or genuine investors to hedge dollar. And pricing is still high compared to There were restrictions on the Australiantion that they are hedging for genuine trade their exposure. the offshore market. dollar prior to 1983, which resulted in theand investment-related transactions. Also, However, it is not sufficient to jump-start At the end of the day, if the customer finds emergence of an NDF market for the Aussiethe hedge undertaken can be cancelled free- the domestic hedging market. that the cost of hedging the US dollar expo- dollar.ly. Apart from ease of doing business, the cost sure is cheaper in the domestic market com- However, over time, the Government built

This represents a marked shift from the of undertaking the US dollar-ringgit hedge in pared to the NDF market, then they wall up a hedging platform in the domestic mar-past. the domestic market has to be competitive move their business here. ket where the settlement is with the Aussie

Although hedging facilities in file domestic compared to the NDF market. Over time, there will be more transactions, dollar. It only came about after some periodmarket have been around for the longest For that to happen, the central bank has and hopefully, the domestic market will be of “hand holding”, where the RBA providedtime, they are not popular for a few reasons, to ensure the supply of the US dollar at able to build the “depth and range” of hedg- enough forex at competitive rates.Amongst them is that the documentation competitive rates to the local financial insti- ing instruments at cost-effective prices. Hopefully, the same can happen to theprocess is tedious and the customers are not tutions. At the moment, the cost to hedge the US ringgit over time,allowed to undertake "dynamic hedging”. This is what some deem as a “hand-hold- dollar exposure in the domestic market is The challenge is that during this

"Dynamic hedging” effectively means ing period” where the supply of US dollars to relatively expensive compared to the off- “hand-holding period”, someone has to bearentering into and coming out of a hedge local financial institutions are at rates where shore market. the cost of supplying cheap US dollars. And itinvolving the US dollar-ringgit freely, without customers can take up hedging positions at a The US dollar and ringgit transactions in certainly will not be the banks.

tb e st&r 2 5 NOV 2018

Hope lies in productivityERROL OH ■ ■ ■

starbi2@thestar.com.my * | | % # 1 | | ' ^ f n g | I Q I l f A A K A l

EARLIER this month, the Organisation for ^ 3 1 1 l % v l I I I l h M I W i 1 ^ 9 1 J E ^ L I W ■ ■ « B IEconomic Co-operation and Development

Malaysian economy. first survey of the QECD report on Malaysia gets little publicity. Are we not interested?Surprisingly, at a time when there's some 1 ' 1 '

anxiety about where the country is heading, striking reduction in poverty levels,” says ment pa'th, Malaysia’s focus has turned tolittle has been discussed publicly about the Tamaki in the OECD’s Nov 11 press release. relative inequality. This calls for reformsOECD findings. J b PV ’ V\ “Malaysia is on the path to becoming a with respect to access to quality education,

The thing to note is that the project had high-income country around 2020, but social protection, labour force participationgovernment support. Malaysia is not an jSSE H SW fe achieving this goal will be challenging. of women and .older persons, healthcare,OECD member, and according to the organi- O K I? ^ T^jP* While the economy remains resilient, pro- pension adequacy and the inclusiveness ofsation’s website, a review of a non-member y j j p ductivity growth has slowed in recent years the tax and transfer system.”economy is done with the subject country’s and Malaysian firms are facing new compe-agreement. tition from their East Asian peers. The two Id e a s t h a t m a k e v o u p o h m m m

It’s also significant that the economic reports launched today identify policy iuccjs u io i iiicm c yuu guassessment report and the results of a responses to these challenges.” Our taxation system has problems. Taxreview of Malaysia’s innovation policy were revenue as a share of GDP is low and redis-launched at a Nov 11 event in Pu trajaya. T h p m a in m p s s a p p s tribution of income is minimal. Less than

OECD deputy secretary-general Rintaro m e m w iii m e s s u g w 10% of people over 15 pay income tax.TheTamaki presented these reports to our chief When the OECD’s advice in the report is OECD’s prescription: Over the medium term,secretary to the government Tan Sri Dr Ah distilled into one-liners, we get three. Push consider gradually reducing exemptions andHamsa. ahead with structural reforms so as to rein- then raising the rate of the goods and servic-

The Paris-based OECD has been around force economic resilience and sustainable es tax, and increasing the progressivity ofsince 1961, when 18 European countries got growth. Boosting productivity growth is income tax.together with the United States and Canada essential to raise living standards. Growth The survey has found that inadequateto create a body focusing on economic devel- must continue to become more inclusive. resourcing and the absence of merger con-opment. Its mission, it says, is to " promote trol powers are limiting competition policypolicies that will improve the economic and -T W ’XfH .vro^H t l . n c r n hn ^ c-finn n m r i i .r t ; . ,;»■./ enforcement. The solution proposed by thesocial well-being of people around the 1 x1 ■ ne UfcLU. on DOOStmg proauctIVliy 0 ECD is to enhance the regulator’s independ-world”. 4 i r Z j i t ' . J "Malaysia has reached a development ence, staffing and financial resources, and to

Most of its 35 members are advanced ~ stage where growth needs to be driven by expand merger control powers,countries, but there are also a few emerging ■ t t w t l ’S M productivity gains more than the sheer accu- According to the OECD, our bankruptcyeconomies such as Mexico, Chile and T mulation of capital and labour inputs. laws are rigid, thus impeding business regen-Turkey. V “This calls for increasing the quality of eration and SME competition. The law

These days, the OECD says it concentrates --------- Wl education and skills training, spurring inno- should be amended to facilitate the rescue ofon helping governments in these four areas: Economic survey; Dr Aii Hamsa with a OECD vation, adopting information technology viable firms, says the organisation, and out-

> Restoring confidence in markets and the report, one of the two that was presented by more widely, improving the functioning of of-court insolvency procedures ought to beinstitutions that make them function: Tamaki in Putrajaya recently, - Bernama the labour market and the regulatory frame- introduced.

> Re-establishing healthy public finances _ work for small and medium-sized enterpris- The assessment found that pension ade-as a basis for future sustainable economic Checking the structures es (SMEs), fostering regional integration and quacy for private sector workers is low andgrowth; The approach for the assessment was raising public sector productivity. that the public sector pension system is

> Fostering and supporting new sources of based on Malaysia’s goal of becoming a "It also requires regular evaluation of stra- unsustainable.growth through innovation, environmentally high-income economy within the next three tegic government plans and programmes to In response, the OECD recommendsfriendly ‘green growth’ strategies and the years, which requires the strengthening of narrow the gap between planning and increasing the pension access ages anddevelopment of emerging economies; and ongoing structural reforms. Another factor implementation, tire use of performance reducing exemptions for early withdrawal. It

> Ensuring that people of all ages can that shaped the project’s emphasis was the benchmarks throughout the public service advocates enrolling future public employeesdevelop the skills to work well in the jobs of OECD’s priority of promoting inclusive pro- and reducing duplicative and excess public in the Employees Provident Fund,tomorrow. ductivity. service jobs.” Another interesting key recommendation

All of the above is relevant to Malaysia. As a result, the assessment had two major is that an independent review of public sec-So shouldn’t we be at least curious about themes: boosting productivity and promot- T l.q n c r n n n n rn m n tin rr Inrlu ciw o tor productivity should be commissioned,what the OECD has to say about our econo- ing inclusive growth. I n e U ELU o n p ro m o tin g in c lu s iv emy? "Malaysia’s economic performance stands growth Executive editor Errol Oh reckons that the OECD

Below are some highlights taken from an out, both for its profound transformation “Having largely eliminated absolute pover- would be more than glad to do some of the workoverview of the report: into a diversified economy as well as for the ty through a relatively equitable develop- specified in the reoort’s recommendations.

By MERGAWATIZULFAKAR _ _ _ _ g g ^ I I M 0 m

DATUK Seri Mustapa Mohamed [ I I I T t J I | W f l i l l [ # W S g l l I l « ^ 2 7 NOV 2015readily admits that the Trans- jPacific Partnership Agreement ■ *(TPPA) has been his most difficult ■ ! U ■ _ ■ _ ■ ■ ■

£“ “ Md n nt Inch lAiitn rhp T P P AFaced with domestic and inter- J I B h I I I ■ ■ Bnational criticism and suspicion over the huge free trade deal,

S p e S m S ^ T ^ With or sans the United States, the Pacific-Rim nations may have to go back to mottonapproved the drawing board for a new incarnation of the free trade deal.

For Malaysia and the 10 TPP o _____________________________ ______partners, the deal now lies tat-

Trump likely to the ^ *from the r-l

Mustapa remains hopeful thatthe pact can be salvaged. Here are y ' /excerpts of the interview:

Is the TPPA dead with y y . . j| d m * aPresident-elect Donald Trump's k- J m B?s _ ^ V ^ jjg jP T y ^ ^ s S ' '^ 4 r ^ ^ B r k * X ^ ~r 4 m |^^^^B|j| ilatest announcement that the US k^ ,1" .j/S fm i i «• j.«r><iPEXBw r ^ JUte- j^ B T [ .. ^ ^ B jj| § | $ [v- I m l - . . ...flrV. ^ Ais out of the deal? J ^ S J S ^ n B T ' W 9 * ^ ~ S r ^ ^ j5 t ' ^ J f w r . '**^^^BfflBr» - Br^v ^ \ h

Not necessarily. We should be & . m M .- Ja ^ 4 T ^ . 4 ^ --prepared for any eventuality as K i fS B B j^ E ^ * ,anything can happen between now u ^ ^ H B B B B B f c V ( 4B | B B ^ B b ~

tlte first day Donald Trump’s 4 l ^ ^ ^ B ^ ^ ^ ■ a B S B S B ^ 1 , ; ^ i l iPresidency on Jan 20 next year, raL T ^ ' JfH L - B ^ B B ^ ^ ^ Band probably for a few months £ J k . ^ g gafter that. > ‘ia ( B ^ !w !& * '^ r ^ a i ! f f l

On the surface, We cannot deny J u f t V \ J V. . jjTspSfIi ft 4 * -:-, J ^ g )that it seems like an uphill battlfe iA ft/ ; s| § | f .for the TPPA to be ratified by the ' / ^ 9 f l B R ^ ^ \ . r jdUS, especially after Trump’s Nov 21 ’ ... y ' ^ R aV V ^ ^ H r a J Sstatement. p ^ M ~ jB K m i| 8 ^ ^ ^ ^ ^ ^ ^ B B ^ H n |

now up to the incoming l B ^ ■ •.■Administration whether they want k B B ^ ^ B ^ ^ B R ^ | ' - 4’to go ahead with the TPPA.

the TPPA in the US as key business ^ ^ V , ,Sk'groups have come out to urge him to reconsider his position. In some prominent congressionalleaders have also indicated that ) r ^ ^ v l ^ ^ y ! * l ,:they are in favour of the TPPA with jslight adjustments. The dynamics Wr JBl/ J / r f W^ ' i Bmight change within the next few *months. As they say, even a week is Great achievement: Mustapa {centre) with TPPA chief negotiator Datuk J. jayasiri (left) and the team of lead negotiators after the Senate approved the an eternity in politics. motion in January for Malaysia to participate in the free trade deal.

Prime Minister Datuk Seri people are going to be very and nail at every single intense Preferential access will also may go ahead with some amend-Najib Tun Razak said in Peru hurt.” Do you, as the minister negotiating round to ensure that make Malaysia’s export more com- ments to make our laws and regu-that Malaysia will only look at largely responsible for the TPPA, our interests are defended. petitive vrs-a-vts countries that do lations relevant in current times,other options if the US decides feel hurt and frustrated that it Malaysians should and must take not have free trade agreements However, the final decision on theagainst the TPPA. What are these may not become reality? comfort in knowing that we have a with the US. amendments will be made by the“other options’’? Honestly, it will be disappointing highly capable negotiating team As far as market access is con- Cabinet.

Our domestic market of 30mi! If the TPPA does not materialise in ready to defend our interests in cerned, assuming it will be a TPPApeople is limited. With or without its current configuration. I was future trade negotiations. without the US, I must stress that In any negotiations, a lot ofTPPA, we will continue to expand involved right from the start when Secondly, the TPPA is more than both Canada and Mexico still repre- gains are made, and compromis-and diversify our trade with the the TPP members unanimously a trade agreement, as it is also sent a huge market to be explored. es as well. Can you specify whatworld. The TPPA will provide us agreed to include Malaysia as the about promoting good governance We could leverage on Peru and compromises Malaysia madewith preferential access to four ninth member back in 2010. and enhancing transparency which Chile as gateways for us to enter during the negotiations and howcountries with which we do nor It was not an easy, straight path Malaysia has emphasised in our the Latin American market. we will re-position these compro-have an FTA (free trade agreement) to get to where we are now. The Economic Transformation There are other tangible benefits mises should the US withdrawwith, namely the US, Mexico, Cabinet, Government ministries Programme (ETP). to the TPPA besides market access. from the TPPA?Canada and Peru. . and agencies, as well as various The TPPA is also a very compre- For instance, the TPPA puts a par- TPPA is a comprehensive trade

One of our options then would stakeholders were consulted hensive trade agreement that ticular emphasis on e-commerce, a agreement that includes issuesbe to negotiate bilateral FTAs with throughout the entire process. addresses new issues including tire vital component of the digital econ- Malaysia had not negotiated for inthese countries. The other option, It was a joint effort by practically development of the digital econo- omy and key area which we need previous free trade agreements,is whether to go ahead with the the whole Government. We spent a my, and the role of state-owned to rapidly develop to move up the These include issues such asTPPA without US participation. lot of time and resources through- enterprises in the global economy. value chain. State-Owned Enterprise (SOE), gov-

This course of action would out the five-year long intense nego- In this context, the TPPA could The TPPA is also the first FTA eminent procurement, environ-depend on further consultation tiations. We decided to enter into potentially be used as a guide if we which has a dedicated chapter on ment, labour and higher commit-and collective decision-making by the negotiations on our own will, were to enter into any other future SMEs. There are numerous oppor- ments on intellectual propertythe remaining TPP members. as the benefits of being in the TPPA trade agreements. tunities to be tapped by our SMEs, rights (IPR).

Malaysia too will continue to outweighed the costs. especially when it comes to knowl- Malaysia has to comply with thepush for an early conclusion of the We fought hard in every round During M m ’s engagements edge-sharing and collaboration with final provisions in all chapters, andon-going negotiations to establish of negotiations and in the end we with business stakeholders, they SMEs from other TPPA countries. some of them require amendmentsthe Regional Comprehensive secured a good deal. were promised a certain percent- to our existing laws.Economic Partnership (RCEP), Our interests-including the age of market access to the US. If Will Malaysia go ahead and In agreeing to the provisions ininvolving 10 Asean countries and Bumiputera agenda - remain pro- the TPPA goes through without table amendments to related these new issues, Malaysia hadsix major trading partners, includ- tected, with numerous other con- US participation, how will it still laws in Parliament? If so, why, negotiated flexibilities such as longering China. cessions obtained. Major research be beneficial and fair to the com- when Malaysia will not be able to transition periods, different levels of

Considerable progress - especial- houses and think tanks have also panies when the largest market gain better access to the US commitments and carve-outs,ly on narrowing the gap on key singled out Malaysia and Vietnam for goods and services is no more which is our primary target? These compromises allowissues surrounding Goods, Services as the clear winners of the TPP. in the TPP? There are 18 laws and regula- Malaysia .to continue with our cur-and Investment - were made dur- Personally, the TPPA has been Indeed, market access to the US tions to be amended as part of our rent policies while minor adjust­ing our last RCEP Ministerial the biggest challenge I have faced was one of our main considera- TPPA ratification process, covering ments are made at a gradual pace.Meeting in Cebu, earlier this in my career as a minister. The end tions prior to joining the TPPA. We several areas including labour and These commitments were notmonth. We need to continue build- of this trade agreement will be have graduated from the US intellectual property rights. negotiated with the US alone buting on this momentum as we surge unfortunate, but if that is the case, Generalised System of Preferences The changes to some of these were collectively negotiated by theahead. it is imperative that we acknowl- (GSP) and no longer enjoy the pref- laws are not just to comply with 12 Parties and consensus reached

edge the many positives we have erential duty-free treatment for the TPPA, but are a result of our as part of the overall package. Even M m has overcome domestic gained. our products. ongoing domestic review to without the US, we should not

political objections and held Firstly, the controversy over the Our products are less competi- strengthen and update legislations expect major repositioning onmany rounds of engagements TPPA in the US shows that five in the US compared to other to facilitate trade and fulfil our these compromises,and townhalls. And as Malaysia’s negotiating team was GSP recipients such as Thailand, international obligations.Singaporean Prime Minister Lee able to secure real concessions. Indonesia and the Philippines. For those laws, we are using theHsien Loong has said: “If at the This was despite certain parties TPPA is meant as a way to reverse TPPA as an instrument to push Full interview:end, waiting at the altar and the accusing them of “selling tlte coun- this and allows us to be more com-- through the amendments. See The Star Onlinebride doesn’t arrive, I think that try", when in fact they fought tooth petitive in the huge US market. With or without tlte TPPA, we

Would renegotiations of the How do you think Malaysia veyed by New Zealand Prime Other US FTA partners such as implement and monitor theTPPA be feasible for Malaysia? would fare in bilateral negotia- Minister John Key at the recently South Korea reorganised their required standards?Which areas are we looking to tions with the US under Trump’s held Apec Summit. Should there be internal organisation to ensure As part of our preparations to improvise and make further administration, given that we confirmation that the US will not correct priorities and systematic implement the TPPA, we havecompromises? stalled our FTA negotiations with be part of the TPP, the remaining implementation and monitoring established a National

In all FTAs. the mandate is for the US in the past? members must discuss the way for- of their trade agreement with Implementation Committee com-the negotiating team to get the best The TPPA has issues which were ward. Going ahead without the US the US. Since the signing of the prising all the ministries and agen-deal for Malaysia. not part of the discontinued bilat- is certainly one option but it would TPPA, what are the efforts taken cies responsible for the different

We believe that the final TPPA era! FTA negotiations. These require an amendment to the by the Government to ensure issues. The different ministriestext reflects the best possible pack- include issues such as SOEs, e-com- clause on Entry into Force. each ministry will reorganise to have established focal points forage for Malaysia - including the merce, and SMEs. The TPPA also Not all compromises were done ensure they will be ready to the implementation of TPP commit-endorsement of our Bumiputera provided for country-specific flexi- to cater to the US alone but were ments as well as to monitor corn-policy - for the first time in any bilities in areas such as SOEs and collectively negotiated by the 12 pliance of other TPP Parties,free trade agreement. government procurement. Parties and consensus reached . In addition, we have established

Renegotiations of the TPPA will Furthermore, the TPPA as part of the overall package. a committee on SMEs and a sepa-mean another round of negotia- recognised our affirmative action There are many other rate Bumiputera committee withtions to be held among existing policy or the Bumiputera agenda aspects of the TPPA which the objective of facilitating themembers. and collectively endorsed halal benefit our business stake- SMEs and Bumiputra businesses to

It is quite premature at this junc- requirements. holders, some of those take advantage of the opportunitiesture to confirm whether the TPPA We have higher commitments were never covered or dis- : .. and prepare them to meet the chal-wiU be renegotiated or not. For under the TPPA than what would cussed extensively in any mmmk:.'~ ’ lenges and be more competitive,sure, Malaysia will only be part of have been under the previous bilat- FTA that we had signed ■ m ilt® Throughout this process, weany agreement if we believe we eral FTA negotiations with the US. before. have been providing ample roomcan get ultimate benefits without Malaysia will be better prepared For instance, the TPPA , : for the parties involved to voicejeopardising our people and our to renegotiate a bilateral FTA with writes rules on e-com- ^ their concerns,sovereignty. the US if it ever comes to that. merce, SOEs and provides I S We have also been working

At the same time, it will also for capacity building, trade hand-in-hand with them to identi-Trump mentioned after with- depend on the new administra- and investment facilitation, ■“ y S i k * / f fy and implement necessary meas-

drawing from the TPPA that the tion’s trade policy. We are keenly development, economic and . _ * ■ ' ures to prepare the relevant groups US will negotiate bilateral FTAs. following developments in the US, technical cooperation as well so that they are in a better positionWhat, are the key differences including who will be appointed as a platform for interna- 1 to reap the benefits of the TPPAbetween the TPPA and the latest members and advisors of the trade tionalisation of SMEs. vfe- once it is officially implemented.US FTA that was concluded? team, under Trump’s presidency.

Generally speaking, multilateral We want good ties with the US, Ptrade deals like the TPPA are much but we must also consider what isbroader compared to generic bilat- best for our country. Trump should , ja P 1 _eral FTAs. know that all good deals have ele- JjP/ \

The latest US FTA is the US-Korea ments of give-and-take. .<AFTA which came into force in 2012.The US-Korea FTA is almost similar MITT Minister II said Malaysia to the TPP but the differences lie in and 10 other TPP countries can the coverage and scope. carry on without the US, if a

The TPPA is more extensive in - requirement clause is amended. .areas like IPR with the inclusion of Could you elaborate on the basispharmaceutical products and med- of this statement and the ration- jOTrSlical devices, disciplines on SOEs, ale of doing so as most compro- promoting SMEs in the global sup- mises were made to cater to US ply chain, business facilitation and requests?cooperation. This was a similar message con-

r u b b e r The Star ^ Q NOV 2018KUALA LUMPUR market traded in a quiet but steadyThe Malaysian rubber market is likely tone at the beginning, but SMR 20 to trend higher this week, bolstered surged to 807 sen on Thursday, its by the weakening ringgit to the US. highest level since September 2013. dollar, said dealers. On a Friday-to-Friday basis, the

A dealer said the lower ringgit Malaysian Rubber Board's noon pricemade the commodity more attractive for tyre-grade SMR 20 jumped 34.5 to foreign buyers, and hence demand sen to 768 sen a kg, and latex-in-bulk for the commodity. added 31 sen to 578 sen a kg.

He also said continuous rain over The 5pm unofficial closing price forthe past few days had also raised con- SMR 20 improved 25 sen to 768 sen a cerns over rubber production. kg, while latex-in-bulk rose 31 sen to

For the week-just-ended, the local 579 sen a kg. - Bernama

RUBBER OUTPUT (in kilograms)

COMPANY APR 16 MAY 16 JUNE 16 JUL 16 AUG 16 SEPT 16 OCT 16rev 151,106 169,112 278,296 293,192 349,597 316,399 394,985IOI Corp 5,073 2,820 ' 4,742 21,233 47,126 42,472 39,747Kuala Lumpur Kepong 640,293 585,082 1,105,577 1,457,445 1,750/182 1,535,839 1,555,998

Bwrita Hariaa

2 8 NOV 2016

GFTAH 34.5 SENV J L I 1 1 1 I 27 November 2016

' asaran getah Malaysia dijang- ka tinggi minggu ini, disokong

oleh kelemahan ringgit berban- ding dolar Amerika Syarikat (AS), kata peniaga.

Seorang peniaga berkata ring­git yang rendah menjadikan ko- moditi berkenaan lebih menarik kepada pembeli luar.

Beliau berkata hujan berteru- san sejak beberapa hari lalu juga menimbulkan kebimbangan ter- hadap pengeluaran getah.

Bagaimanapun SMR 20 melon- jak kepada 80.7 sen pada Khamis, paras tertingginya sejak Septem­ber 2013-

Bagi asas perbandingan Jumaat ke Jumaat, harga tengah hari Lem- baga Getah Malaysia bagi gred tayar SMR 20 melonjak 34.5 sen kepada RM7.68 sekilogram, dan susu getah pukal menambah 31 sen kepada RM5 .78 sekilogram.

Harga akhir tidak rasmi pada jam 5 petang bagi SMR 20 naik 25 sen kepada RM7.68 sekilogram m anakala susu getah pukal meningkat 31 sen kepada RM5.79 sekilogram. BERNAMA

Band Ekonomi bantu mantapkan ekonomi negara u«““r ° 2 8 NOV 20)6

Oleh RO SM AW ATI M ION

KU ALA LUM PUR 27 Nov. Perusa- ' l i 4, P eratU San (% ) » ■ ■ ■ ■ * ! ■ ***haan Kecil dan Sederhana (PKS) I H<t * J l l !jj M 8 ) f! I ' J | ; * ' . P K S _ A,adalah enjin pertumbuhan ekonomi “ I s T..n .i-.h f ' b e rb a n d in g l V l . < X . I l J L c t C t lbap negara-negara ASEAN. Tidak P e r t S u h a n | l P R S ^ ; | . p€£ J ^ a n

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dustri PKS sekali gus memastikan ,■ dan pGrtUmbuhan

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sanakaVempatbanda n’fait p ia ...i f l l r ~ ” rn ,~ 2 ^ nl S \ T ~ *• / I j H r M " Membuat Perancangan dantahun2001,2006,2011 dan2016. PERLOMBONGAN | j keputusan perniagaan

rangkaan, Datuk Dr. Abdul Rahman - v. .»«, 5 ^ j s i r S » ! 3 S M 7 » S E j | [ E E E S I ® » . ^ ^ S ! ^ S 5 S E S 5 ' £ V- 7 . J /Hasan berkata, Band Ekonomi ini jumlah KESELURUHAN 662,939 < 645,136 » 97.3 » i VsC mMengukur prestasi perniagaandijalankan bagi mengumpul maklu- ---------- ----------------------------------------------- ----^ _;,— ~ ~Tj'K ' y, . , -------------mat lengkap struktur dan profit ' t _ , ’ *' - i f • r * : 'rJ J 4 ]

id^fan iMaia™\rrtaaktivitiper” ' ' • ' ‘ j ’E 6-.. V * * ■ _ Membandingkanoperasi perniagaandengan“la juga adalah salah satu instru- . Di Malaysia, Band Ekonomi _ _ diminta berkaitan kelulusan pekerja norma indUStri

men yang dapat mengenal pasti dilaksanakan di bawah Akta Pe- aflp mengikut pengelasan Pendidikansumber pertumbuhan baharu eko- rangkaan 1965 (Disemak 1989). Di danLatihanTeknikaldanVokasionalnomi berasaskan dapatan terkini bawah Seksyen 5, akta ini mengke- B a i l C i E k o n o m i i l l i (TVET); e-dagang; Penyelidikan & a K e m u d a h a n p e m b ia y a a n k e p a d a P K Sstatistik daripada pemain industri. hendaki mana-mana pertubuhan . Pembangunan (R&D) serta import 1 1 ■ 1 • 1 n i/ c m o n

“Statistik itu diperlukan untuk yang beroperasi di Malaysia untuk ( U ja l a n K a n D a g l dan eksport barangan mahupun meidlUl peian inuUK rl\b (Z U IZ -Z U /V )membentuk dasar perkembangan memberikan maklumat sebenar mpnOTiTrirml m alrlnm at perkhidmatan.ekonomi negara dan menilai im- atau anggaran terbaik kepada i i r c i i g u i i i j j u i i n a m u iu c u Malah, soalan mengenai tran- 11111111IIHUWI »|ii|jIIin ill mi 11 u m i 1 11 m i "'immvilllliil i'l|ilHlHMHml)llll I Ipak pelaksanaan dasar serta mem- Jabatan Perangkaan. l e n g k a p S tX U k tU r saksi e-dagang yang dijalankan oleh a 'iT }•)perhalusi keberkesanan program Bancian seperti ini juga telah syarikat dan perniagaan turut diam- * J 'H pBpembangunan nega- dilaksanakan di nega- u 3 n p r O I l l K e g ia tc U l bil kira dalam Bancian Ekonomi 2016 iij j r iiii >'0 m W a f lra seperti^ Program ” 'ne?^ra sma^ s®p®rfi e k o n o m i s e r t a a k t i v i t i seperti jualan tiket penerbangan atas

laysia Ke-11 CRMK-ll) ( J S kala negara ASEAN iaitu P e m i a 8 a a n M a l a y s i a . danpada 700,000 syarikat atau per- ^ q q q q / '’’ ' ' ■ * ' « * ' ' < ' 'dan Peian Induk PKS ; S H Indonesia dan Brunei niagaan telah memberi maklum ' : q J I *50/ ' ' * * " ' "(2012-2020),” katanya. barn sahaja melaksana- DATUK DR. ABDUL balas berkaitan soal selidik Band - v • S P y .O / O

Tambahnya, data kannya pada tahun ini. RAHM ANHASAN Ekonomi 2016 kepada Jabatan Pe- if) } 9 9 .6 % 9 9 .4 %yang diperoleh itu u Untuk tahun ini, se- Ketua Perangkawan. rangkaan. yi- | ft, * 9 8 .2 %akan digunakan untuk M M aM BSyi7}-.--!. « | banyak 700,000 syarikat Jabatan Perangkaan Sehubungan itu, semua syarikat l i ' ! S A 97 .5%mengemaskini petun- H k i ' * pelbagaisektorekonomi . ,• tersenarai diharap dapat menjadi bj j !fe fc m « » , 'juk ekonomi negara n | y f l | kecuali perdagangan Mereka tidak perlu khuatir kera- responden Band Ekonomi dan mem- ;• | g f| |seperti pengasasan se- edaran, akan terlibat na maklumat banci yang diper- berikan kerjasama dengan mengem- |v i B # || m o n no/,mula KDNK, Indeks dalam proses Banci Eko- oleh itu adalah suht dan tidak akan balikan soal selidik yang lengkap ^ § I SPengeluaran Perindus- nomi di seluruh negara disebarkan berdasarkan Akta Pe- dengan segera. V || M * 1trian (IPP), Indeks Per- H K t S B l bermula April sehingga rangkaan 1965. Hanya angka agregat Mereka yang gagal mematuhi {• H B S 1khidmatan (IoS) dan ABDUL RAHMAN HASAN November ini. akan diterbitkan. ketetapan itu boleh dikenakan denda |i 1| { { i f M IIndeks Harga Pengeluar Syarikat terlibat ada- Antara soalan yang ditanya dalam ydak melebihi RM500 dan bagi kes p f l J » 8 1(IHP)sertapenyediaanprofilPKS. lah yang berdaftar dengan Suru- bancian adalah mengenai profil kesalahan berterusan, denda lan- f . la :5 1 # 1

“Bancian ini juga dapat melihat hanjaya Syarikat Malaysia (SSM); syankat/pemiagaan, pendapatan, jutan sebanyak RM500 bagi tiap- jM J I -5 1 1 1perubahan industri PKS dalam tern- pertubuhan profesional; Suruhan- perbelanjaan, mlai stok, mlai aset, tiap hari selama mana kesalahan itu "f. 53 y , I I IS ®poh lima tahun dan digunakan se- jaya Kopetasi Malaysia (SKM); pi- guna tenaga dan gap atau upah. berterusan selepas sabitan. & || 'd S # 1bagai input untuk menilai prestasi hak berkuasa tempatan (PBT) yang . Pada masa sama Banci Ekonomi Bagi responden yang memer- >: || U 1 i l Sbagi merencana serta memantap- berdaftar di Sabah dan Sarawak; juga menyentuh tentang penggunaan lukan bantuan berhubung banci g| -t? ;-:v H S Bkan program pembangunan industri dan usahawan tani yang berdaftar tetoologi maklumat dan komumkasi itu> mereka boleh menghubungi * k JM L \ \ . J B k J B L JE LPKS,” katanya. dengan Kementerian Pertanian. (ICT) serta e-dagang; kemudahan mana-mana pejabat negeri Jabatan S B f i S ) ) S T J ) WXJ © w

Bancian ini merangkumi sektor Semua syarikat wajib memberi pembiayaan; movasi; pemasaran dan Perangkaan Malaysia melalui talian ?T ^ o r * * *ekonomi seperti pertanian; perlom- maklum balas dengan menjawab promosi; import dan eksport;. dan hotline Banci Ekonomi di portal ^ a ^bongandanpengkuarian;pembuatan; bancian melalui borang bancian pematuhan alam sekitar. Jabatan Perangkaan di www.stafts- r>° J 3 > j J Epembinaan dan perkhidmatan. yang telah dihantar sejak April lagi. Maklumat terpenna juga akan tics.gov.my. * ^ # <c* 4 ? t P

B«rita Hariaa2 8 NOV 2016

Penangan Trump, penyusutan ringgit

— ( F0T0 HlASAN ]

i pula ad^ ^j kejatuhan harga minyak mentah : Nilai ringgit mengalami kejatuhan disebabkan pengukuhan nilai dolor AS.: dunia. Lumrahnya, harga minyak i: mentah dunia adalah berkadar : kejatuhan nilai ringgit kali ini. Sudah pasti mereka membuat I paras tertinggi di antara tahunI songsang dengan nilai dolar AS. : Kejutan kali ini adalah kerana : rombakan yang bersesuaian : 2011-2012, di dalam lingkungan

Kejatuhan harga minyak secara ; Donald Trump memenangi ; terhadap portfolio masing-masing. ; RM3 berbanding dolar AS.i mendadak ini turut melemahkan : pilihan raya presiden Amerika : Permintaan untuk dolar ASi arah aliran perdagangan dan ! Syarikat (AS). i meningkat di samping penurunan : Kesannegatif; pelaburan modal dunia. Per- Kebiasaannya calon presiden : permintaan untuk ringgit kerana i Penurunan nilai ringgit sudah: mintaan untuk barangan dan ! dari parti Republikan atau i pelabur mengeluarkan modal ! tentu memberi kesan negatif! perkhidmatan dunia terkesan j Demokrat di dalam pilihan raya : mereka dari Malaysia dan : kepada ekonomi, walaupun ada! oleh harga minyak yang rendah. I di AS mempunyai kebarangkalian j memindahkannya ke lain-lain : juga kesan positifnya. Kesan

Keadaan ini memberi kesan ; yang sama (50-50) untuk menang. I pasaran, terutama AS. Justeru, : positif dari kejatuhan nilai ringgit: rantaian kepada ekonomi utama ! nilai ringgit menurun. : adalah eksport barangan kitai dunia terutama negara ; Kejutan banyak pihak Dalam pada itu, pelabur dan ■ menjadi lebih murah di dalam: perdagangan seperti Malaysia. ; Ianya adalah kejutan pada kali i spekulator juga turut melabur i dolar AS, kerana harga barang

Keadaan ini berpanjangan ; ini kerana banyak pihak yang ; dalam pasaran hadapan mata i di dalam ringgit tidak berubah.i sehingga kini. Ringgit berada : menjangka Hilary Clinton akan : wang (forex). Pelabur melabur di Malangnya pada situasi semasa I pada paras terendah sebelum ; memenangi pilihan raya presiden. i dalam pasaran hadapan untuk : jumlah kuantiti eksport tidak: episod kejatuhan kali ini pada j Kebanyakan pungutan suara : perlindungan daripada risiko ; bertambah, malah menurun: Oktober 2015 dengan nilai ; umum (poll) meramalkan Clinton i turun naik mata wang, i kerana keadaan ekonomi rakan: RM4.41 berbanding dolar AS. : akan memenangi pilihan raya. : manakala spekulator berbuat : dagang Malaysia turut terjejas.

Namun, ringgit dan lain-lain Kebiasaan juga, keputusan i demikiancuma untuk mengambil i Maka, Malaysia tidak mendapat: mata wang asing dilihat mula ; pungutan suara umum di AS ; keuntungan dari turun naik nilai : manfaat yang maksimum melalui; kukuh berbanding dolar AS I adalah amat tepat dan boleh : mata wang. : penurunan harga dolar AS itu: kerana kebanyakan ekonomi : dipercayai. Namun, pada kali ini Tindak tanduk mereka akan : dan juga import negara menjadi; telah berjaya mengimbangi : ianya meleset. ; memberi kesan terhadap nilai 1 semakin mahal di dalam ringgit.: kejatuhan harga minyak. Pelabur dan ahli perniagaan : ringgit secara negatif berdasarkan : Import barangan akhir

Ringgit telah mencatatkan j yang berkaitan di seluruh dunia i sentimen semasa. : menyebabkan barangan peng-: nilai tertinggi pada kadarRM3.90 i sudah pasti telah membuat Bank Negara Malaysia telah : guna menjadi semakin mahal,

gnjijgj 1 berbanding dolar AS pada April : perancangan dan keputusan : mengetatkan kawalan terhadap ! manakala import barangan1 : tahun ini. Selepas itu ringgit j yang bersesuaian berdasarkan | dagangan ringgit di pasaran luar ; perantaraan yang digunakan

■ : mengalami turun naik pada : pungutan suara umum itu. Lebih- i pesisir terhadap pasaran kontrak : sebagai input untuk membuatKemenangan Trump ; julat yang kecil sehinggalah ; lebih lagi terdapat perbezaan ! hadapan tanpa serahan (non- ! barangan akhir turut mengalamiarlalah si lati i kpintan ke episod kejatuhan kali ini. : dasar ekonomi yang ketara di : deliverable forwards - NDF) untuk : kenaikan harga di dalam ringgit.dU dldll su d tu KtrjULdil Persoalannya,apakahfaktor : antarakedua-duacalontersebut. : mengawalkegiatanspekulasi. Kesannya,kospengeluarandi Seluruh dunia. i yang mendorong kejatuhan Oleh yang demikian, Situasi semasa ini menyaksikan ; bertambah, maka baranganReaksi awai pasaran I nilai ringgit kali ini? Malah, | kemenangan Trump adalah ; nilai ringgit mencecah nilai : akhir turut mengalami kenaikan

. . . ^ : harga minyak dilihat telah mula ; suatu kejutan di seluruh dunia. : terendah sejak Oktober 2015. ! harga. Selain itu, kebanyakanadaiah apa yang : Stabil di sekitar AS$50 satu tong : Reaksi awal pasaran adalah apa : Ringgit diniaga pada kadar : harga barangan secara umumnyadigelar'Trump i berbanding paras terendah di ; yang digelar 'Trump tantrum', i RM4-46 berbanding dolar AS di ; akan naik jikanilai dolar(.a n ).r| ! bawah ASJ30 satu tong pada awal : iaitu kemarahan pasaran di : akhir ininggu lalu. Ada kalangan i AS meningkat berbandingt d i i t i u i l l , Iditu ; tahun ini sehingga menyebabkan I atas kemenangan Trump. i penganalisis berpendapat, nilai ; ringgit walaupun tanpa salurankemarahan pasaran : kerajaan terpaksa membuat Trump tantrum ini memberi : tukaran ini masih menurun. ; import-eksport seperti di atas.di atas kemenangan i pindaan kepada Bajet 2016. : kesan kepada pasaran terutama Nilai ini adalah nilai terendah Ianya melalui kesan tidakT _ 5 Peniaga dan kerajaan telah : melalui pergerakan modal jangka j ringgit berbanding dolar AS sejak i langsung sebagai sebuahI rump. I rump : membuat pengubahsuaian yang i pendek, yangjuga dikenali i Januari 1998, ketika Malaysia i ekonomi terbuka, di manatantrum ini memberi : perlu untuk terus berdaya saing : sebagai pelaburan portfolio. : berhadapan dengan krisis kewan- : kebanyakan harga barangankpsFin kpn n rip n p s p rs n I pada peringkat global. Malah, Pelabur membuat perubahan : gan Asia. Ringgit telah ditambat : akan sama di semua negaratsesdi 1 At|jdUci pd bd idi I ; keadaan ini memberi kesan ; ke atas portfolio mereka. Keadaan i pada kadar RM3.80 berbanding ; yang berdagang, iaitu apa yangterutama melalui : sampingan yang positif kerana : ini memberi kesan yang meluas : dolar AS pada tahun berkenaan i dipanggil ‘hukum satu harga’.pereerakan modal ■ Penin6katan kecekapan ; kepada Malaysia kerana kita : untuk mengelakkan mata wang Justeru, jika ringgit menga-• 5 . , , ■ pengeluaran dan lain-lain ; mempunyai pasaran kewangan ; tempatan itu daripada mengalami i lami susut nilai, ‘satu harga’jangka penuek, yang : proses perniagaan. ; yang terbuka pada peringkat i turun naik yang berterusan. j itu menjadi mahal. Perbezaanjuga dikenali sebagai Maka, sudah pasti terdapat ; global. Pelabur asing mempunyai i Ringgit diapungkan semula ; harga akan mengundangn pl nh i i r o n n n r tfn l in " : keJutan selain kejatuhan harga i peratusan pegangan yang besar : pada tahun 2005 dan nilainya : aktiviti arbitraj yang akanpiciduu idi piui liui iu minyak yang menyebabkan i ke atas pasaran bond Malaysia. : terus kukuh sehingga mencecah I kembali menyamakan harga.

N8T2 8 NOV 2016

‘Malaysia will notpegringgit’KUALA LUMPUR: Malaysia will not impose any pegging or capital con­trol on its currency to encourage in­vestors, corporations and financial institutions to undertake foreign ex­change (forex) and hedging activ­ities in Malaysia, said Second Fi­nance Minister Datuk Johari Abdul Ghani.

He said the Australia and New Zealand Banking Group Ltd and Macquarie Bank cases were clear- cut evidence that such speculative activity was rampant in the offshore market.

It was reported the banks had ad­mitted to trying to rig a key bench­mark rate in Malaysia’s forex mar­kets and breaking cartel laws, re­sulting in multimillion-dollar fines.

Johari said he had advised in­vestors to conduct such activities in Malaysia where their investments were protected and transparent.

He said Bank Negara Malaysia’s move to curtail the offshore forex market was justified.

“There is evidence of heavy spec­ulative activities abroad, so I sup­port Bank Negara’s action in ensur­ing that more forex and hedging ac­tivities are conducted onshore,” he said after flagging off the Kampong Bharu MTB Challenge, here, yester­day.

Johari said Bank Negara had put in place the mechanisms to ensure that all parties were protected from speculative activity in the offshore market.

Asked if speculative activity on the ringgit was still in play, he said: “You cannot stop people from spec­ulating on our currency.”

He said the government had to create good economic fundamen­tals.

"We have to show them that we want to intensify our credibility, the" trust in our system, so that people will have faith in it. I believe we have good fundamentals and the curren­cy will come back to the level where it is supposed to be,” he added. Bernama

2 8 NOV 2016

'Future free trade deals must not impair nation's policy space'BY EVA YEONG protect the citizens’ interests.sunbiz@thesundaily.com “Developing and developed countries

.. have been sued under similar provisionsI’ ETAUNG MY As The likely demise of the for billions of dollars in projected profits,”Trans-Pacific Partnership (TPP) gives he saidMalaysia an opportunity to ensure that Prior to the signing of the 12-nationany free trade agreement in the future TPP agreement on Feb 4,2016, Gurdialdoes not impair the country’s policy space, and other parties, including Bantah said Sreenevasan Advocates & Solicitors TPPA, had highlighted the potentialconsultant, Gurdial Singh Nijar. issues related to ISDS provisions.

“We rushed into signing the TPP Issues surrounding ISDS had alsowithout looking carefully of the become quite prominent due to theconsequences - in particular whether or not international case between tobacco the US Congress would approve it and the company Philip Morris and theimpact of the US elections, as well as the Australian government whereby thefact that any change of our laws will have to company brought an investment disputebe approved by the US Congress and for it against the government over its plan forto determine whether or not we had packaging legislation for tobacco,complied with the TPP as they saw it. This “A s to the impact on our economy -is a blight on our sovereignty,” he told the jury is still out - although establishedSunBiz in an email interview. economists (such as Nobel laureates and

The legal consultant, who is a former former U N economic advisers) have law professor, said the Investor State ” advised that the TPP will not bring theDispute Settlement (ISDS) provisions in projected economic and other benefits,” the trade deal gave undue power to said Gurdial.foreign corporations to sue the “This is a salutary lesson not to begovernment if their investments were involved in secret negotiations and to beaffected by any changes that the open and transparent, and engage thegovernment may wish to introduce. citizenry in matters that will affect them

These changes could include matters beyond the political tenure of oursuch as environment and health, made to political leaders,” he added.

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Future free trade deals must not impact country’s policy space: Legal consultant

EVA YEONG - suniz@thesundaily.com374 words28 November 2016The SunTHESUMEnglish(c) 2016 Sun Media Corporation Sdn BhdPETALING JAYA (Nov 28, 2016): The likely demise of the 12-nation Trans-Pacific Partnership (TPP) givesMalaysia an opportunity to ensure that any free trade agreement in the future does not impair the country’spolicy space, said Sreenevasan Advocates & Solicitors consultant, Gurdial Singh Nijar.

“We rushed into signing the TPP without looking carefully of the consequences – in particular whether or notthe US Congress would approve it and the impact of the US elections, as well as the fact that any change ofour laws will have to be approved by the US Congress and for it to determine whether or not we had compliedwith the TPP as they saw it. This is a blight on our sovereignty,” he told SunBiz in an email interview.

The legal consultant, who is a former law professor, said the Investor State Dispute Settlement (ISDS)provisions in the trade deal gave undue power to foreign corporations to sue the government if theirinvestments were affected by any changes that the government may wish to introduce.

These changes could include matters such as environment and health, made to protect the citizens’ interests.

“Developing and developed countries have been sued under similar provisions for billions of dollars inprojected profits,” he said.

Prior to the signing of the TPP agreement on Feb 4, 2016, Gurdial and other parties, including Bantah TPPA,had highlighted the potential issues related to ISDS provisions.

Issues surrounding ISDS had also become quite prominent due to the international case between tobaccocompany Philip Morris and the Australian government whereby the company brought an investment disputeagainst the government for its plan for packaging legislation for tobacco.

“As to the impact on our economy – the jury is still out – although established economists (such as Nobellaureates and former UN economic advisers) have advised that the TPP will not bring the projected economicand other benefits,” said Gurdial.

“This is a salutary lesson not to be involved in secret negotiations and to be open and transparent, andengage the citizenry in matters that will affect them beyond the political tenure of our political leaders,” headded.

Document THESUM0020161127ecbs00005

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RUBBER-TOCOM hits 1-1/2-yr high, but ends lower on profit-taking

351 words25 November 201618:08Reuters NewsLBAEnglishCopyright 2016 Thomson Reuters. All Rights Reserved.TOKYO, Nov 25 (Reuters) - Benchmark Tokyo rubber futures touched a 1-1/2-year high on Friday as the yenfell to multi-month lows against the dollar, but ended lower on profit-taking though it still marked a 13 percentweekly gain.

"The recent rally has been supported by the yen's fall and expectations of higher demand in China," saidHiroyuki Kikukawa, general manager of research at Nissan Securities.

"But investors took profits after the sharp gain and ahead of the weekend," he added.

The Tokyo Commodity Exchange (TOCOM) rubber contract for new May delivery <0#2JRU:> finished at236.9 yen ($2.09) per kg, down 1.6 yen, or 0.7 percent, from an opening price of 238.5 yen. The contract roseto 241.7 yen earlier in the session, its highest since June 2015.

For the week, it booked a 13.1 percent gain, marking the biggest such leap in two weeks and boosting anaccumulated rise since the end of August to more than 50 percent.

After hitting an 8-month high of 113.90 yen in Asian trade, the dollar was down 0.3 percent on the day at112.97 yen, still on track to gain more than 2 percent on the week. A weaker yen makes yen-denominatedassets more affordable when purchased in other currencies.

"I expect to see some position adjustments next week in rubber prices as the dollar and global equities maytake a breather after the lofty gains over the past few weeks," Kikukawa said.

The most-active rubber contract on the Shanghai Futures Exchange for May delivery fell 135 yuan to finish at18,420 yuan ($2,663.00) per tonne.

The front-month rubber contract on Singapore's SICOM exchange for December delivery last traded at 171.5U.S. cents per kg, down 4.7 cents. ($1 = 6.9170 Chinese yuan) ($1 = 113.1200 yen) (Reporting by YukaObayashi; Editing by Sunil Nair)

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Asian Rubber Prices End Lower

By Vibhuti Agarwal227 words25 November 201618:52Dow Jones Institutional NewsDJDNEnglishCopyright © 2016, Dow Jones & Company, Inc.

Asian rubber prices ended lower Friday, weighed by sluggish Shanghai rubber futures.

Rubber futures on the Shanghai Futures Exchange fell after rising around 30% over the past two weeks.

The most-active rubber contract on the Shanghai futures exchange for May delivery was down 200 yuan atCNY18,355 ($2,652) a metric ton.

Trading volumes were subdued amid the Thanksgiving holiday in the U.S., said Kaname Gokon, an analyst atOkato Shoji brokerage in Tokyo. However, hopes that the Organization of the Petroleum Exporting Countriesis likely to reach an agreement to curb global oil production at next week's meeting "will be a key driver ofprices," he said.

The Tokyo benchmark six-month contract ended down 3.2 yen at Y235.6 ($2.08) a kilogram.

Asian Rubber FuturesNov 25 Change from previous close

Tocom Apr RSS3 Y235.6/Kg Down Y3.2Shanghai Feb SCR5 CNY18,355/ton Down CNY200Sicom Dec RSS3 200.5 US cents/Kg Down 0.5 US cents/KgSicom Mar TSR20 177.8 US cents/Kg Down 3.7 US cents/Kg

USS Nov THB64.87-THB66.40/Kg THB65.70-THB65.86/KgWrite to Vibhuti Agarwal at vibhuti.agarwal@wsj.com

(END) Dow Jones Newswires

November 25, 2016 05:52 ET (10:52 GMT)

Document DJDN000020161125ecbp0013y

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Guangken to list Thai rubber producer

Li Wenfang in Guangzhou513 words28 November 2016China DailyCHNDLY16EnglishCopyright 2016, China Daily Multimedia Co. Ltd. All Rights Reserved.Guangdong Guangken Rubber Group Co expects to list its operation in Thailand on stock exchanges inThailand and Hong Kong in two years after its acquisition of Thai Hua Rubbr Public Co, the world's thirdlargest natural rubber group.

One of the largest natural rubber companies in China, with a full business chain, including seedlings, farming,processing and sales, Guangken completed its acquisition of a 60 percent stake of Thai Hua at a price of 1.2billion yuan ($174 million) in August. It plans to invest an additional 600 million yuan. Including the acquisition,Guangken has annual natural rubber processing capacity of 1.5 million metric tons and rubber farms of 2million mu (133,330 hectares).

Before the acquisition, it was already running rubber processing plants in Thailand and Indonesia, farms inMalaysia and Cambodia, and a trading company in Singapore, said Xiong Yinzhong, a board director of thegroup.

Thai Hua has an annual processing capacity of about 1 million tons, with Thailand housing about 40 percentof the world's output. The China-based processing capacity of Guangken stands at 200,000 tons a year.

China is the largest rubber consuming country, with annual output of 800,000 tons, compared with demandfor 4.8 million tons.

The acquisition of ThaiHua is in line with the industrial policy under the country's Belt and Road Initiative andalso gives Guangken a comparative advantage, because Southeast Asian regions are better located forrubber farming, Xiong said.

Guangken's capital and managerial advantages will be combined with Thai Hua's strength as an internationalbrand, in cooperation with tire companies in China, he said." In many business sectors, including resourcesectors, the trend is there to centralize."

Apart from overseas listings, Guangken is also eyeing domestic listing of the whole group in three years,Xiong said.

Guangken is set to gain significant cost advantages thanks to the lower land and labor costs in Thailand,facilitated by the ASEAN-China Free Trade Area, said Cao Xiaping, associate professor and PhD programdirector with the finance department, Lingnan College, Sun Yatsen University in Guangzhou.

The stable political situation in ASEAN members makes the region a good choice for Chinese companies intheir "going global" pursuit, he said, adding companies like Guangken can raise funds in the local markets inASEAN, given the wide acceptance of renminbi there.

The acquisition of ThaiHua came at a good time, given the low global rubber price, said Xu Wenying,secretary-general of the China Rubber Industry Association.

Guangken was the first Chinese rubber company engaged in overseas rubber farming and this latestacquisition will help it in overseas resource allocation and pricing, she said, noting that Guangken has theopportunity to supply rubber to four tire plants invested by Chinese companies in Thailand.

A subsidiary of Guangdong Agribusiness Group, Guang-ken received a capital injection of 500 million yuanfrom China Agricultural Industry Development Fund and China Cinda Asset Management Co.

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RUBBER-Tokyo futures fall from 18-month high as weak oil, yen's gain stoke profit-taking

411 words28 November 201609:28Reuters NewsLBAEnglishCopyright 2016 Thomson Reuters. All Rights Reserved.TOKYO, Nov 28 (Reuters) - Benchmark TOCOM rubber futures fell on Monday as investors cashed in on arally that had boosted prices to a 1-1/2 year high in recent days, with weaker oil prices and a higher yen alsohurting investors' appetite for risk.

FUNDAMENTALS

* The Tokyo Commodity Exchange rubber contract for May delivery <0#2JRU:> was down 3.0 yen, or 1.3percent, at 233.9 yen ($2.09) per kg as of 0125 GMT after hitting its highest level since June 2015 at 241.7yen on Friday, making for a 13 percent climb last week.

* Top OPEC oil exporter Saudi Arabia has told the producer group it will not attend talks on Monday withnon-OPEC producers to discuss limiting supply, sources said, as it wants to focus on having consensuswithin the organisation first.

* Rubber inventories in warehouses monitored by the Shanghai Futures Exchange fell 35.1 percent from aweek earlier, the exchange said on Friday.

* China's imports of natural rubber fell 13.23 percent in October from a year earlier.

* India's natural rubber production in October rose 15.4 percent from a year ago to 60,000 tonnes, thestate-run Rubber Board said on Friday, as an improvement in prices prompted farmers to increase tapping.

* For the top stories in the rubber market and other news, click or

MARKET NEWS

* U.S. crude fell nearly 4 percent on Friday, dragged down by uncertainty over whether the Organization ofthe Petroleum Exporting Countries will reach an output deal, after Saudi Arabia said it will not attend talks onMonday with non-OPEC producers to discuss supply cuts.

* The U.S. dollar was down 0.5 percent at 112.680 yen following a rise to an eight-month high of 113.900 lastweek as investors braced for upcoming events that could at least temporarily knock the greenback's bull runoff-course.

* Japan's benchmark Nikkei stock average was down 0.4 percent on Monday after key stock indexes on WallStreet swept to record intraday and closing highs on Black Friday thanks to gains in consumer staple andtechnology shares.

DATA/EVENTS (GMT)

* The following data is expected on Monday: (Time in GMT)

1000 Euro zone Business climate Nov

1000 Euro zone Consumer confidence Nov

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