Bank Negara raises OPR by 25 basis points

Bank Negara Malaysia (BNM) raised the overnight policy rate (OPR) by 25 basis points to 3.25% on Thursday, the first time since May 2011 with economists expecting the rate hike to address the potential rise in financial imbalances. 

Alliance Bank Malaysia chief economist, Manokaran Mottain said the hike in the OPR was a "pre-emptive measure to prevent further disproportionate risk taking as well as reducing asset price misalignments".

"While the central bank in previous instances had preferred to make use of macro prudential tools in reducing asset price bubbles risks, the rate hike will likely deliver greater traction in averting any excessive leveraging activities," he said.

BNM said the decision was made at its monetary policy committee (MPC) meeting as the latest economic indicators pointed to continued strength in exports and private sector activity in Malaysia. It also expected Malaysia's overall economic growth momentum to be sustained.

"The floor and ceiling rates of the corridor for the OPR are correspondingly raised to 3.00% and 3.50% respectively," it said. "At the new level of the OPR, the stance of monetary policy remains supportive of the economy."

BNM said going forward, the overall growth momentum was expected to be sustained while inflation has been relatively stable.

"Exports will continue to benefit from the recovery in the advanced economies and from regional demand. Investment activity is projected to remain robust, led by the private sector."

"Private consumption will be supported by stable income growth and favourable labour market conditions. The prospects are therefore for the Malaysian economy to remain firmly on a steady growth path," it said.

BNM said inflation has been relatively stable as the effects of the price adjustments for utilities and energy continue to moderate. Demand driven inflation remains contained, it added. 

"Looking ahead, inflation is, however, expected to remain above its long-run average due to the higher domestic cost factors. 

BNM added amid the firm growth prospects and with inflation remaining above its long-run average, the monetary policy committee decided to adjust the degree of monetary accommodation. 

This normalisation of monetary conditions also aims to mitigate the risk of broader economic and financial imbalances that could undermine the growth prospects of the Malaysian economy, said the central bank. 

Alliance Bank's Manokaran said the MPC's decision to raise the OPR by 25bps was within expectation as well as market consensus.

He pointed out that since the previous MPC meeting in May, financial markets had been influenced by this expectation.

The ringgit rallied to RM3.172 against the US dollar on Wednesday, up 2.06% gain. At the close on Thursday, the ringgit was trading at RM3.182.

"In the meantime, the rise in OPR will likely improve Malaysia's attractiveness amongst foreign investors, leading to stronger capital inflows, lower bond yields and an appreciating ringgit.

"Looking ahead, we do not see the recently announced OPR hike to be the start of a monetary tightening process. At the new rate, the OPR remains accommodative of growth. In this regard, we expect the OPR to remain unchanged at 3.25% for the rest of 2014," he said. - By The Star

With current situation, increase interest rate, WTF !!??!! New couples and newly graduates really facing tough time going to own a house going forward...

Facebook scores record 1 billion interactions for World Cup ....LIKE LIKE LIKE!

SAO PAULO: With 1 billion posts, likes and comments in just the first half of the World Cup, the soccer tournament is already the most talked-about event in Facebook Inc’s decade-long history, data obtained by Reuters showed.

The soccer conversation measured between June 12 and June 29 involved 220 million people and 1 billion interactions, the Facebook data showed.

And since the ball will be rolling for another two weeks, the tournament is set to break new records as the biggest social media event to date.

“People are having conversations on Facebook about what they watch in a really unprecedented scale,” Nick Grudin, the company’s director of partnerships, told Reuters.

“In addition to sharing and connecting with friends, people are engaging in real time with the media and the public voices they care about most.”

Facebook is the latest social media company to capitalize on TV-related traffic around big events like the World Cup, a trend started years ago by the microblog website Twitter Inc.

People use Facebook to comment about things they watch live, an interaction that could turn into a source of ad revenue for the company.

Facebook’s record numbers were possible because of widespread mobile penetration. Seven out of 10 users globally connect to the network from mobile devices, which represent roughly 60 percent of the company’s ad revenue.

There is also soccer’s global appeal. The first week of the World Cup alone saw 459 million interactions on Facebook, more than this year’s Super Bowl, the Sochi Winter Olympic Games and the Academy Awards combined.

The 1 billion mark was reached after traffic accelerated as the World Cup moved into the knockout round. On Saturday, more than 31 million people put up 75 million posts, likes and comments about Brazil’s nail-biting victory over Chile, which propelled the home team to the quarter-finals.

“This Cup has been a catalyzing cultural moment for people around the world,” Grudin said, “and we see it reflected on Facebook.”--REUTERS

www.nst.com.my

I for once never doubt the power of Facebook, it's so widely use and talk about topics....well done Facebook and well done World Cup 2014!

Adequate Cooking Oil And Flour In Penang...DON'T SPECULATE !!!

There are adequate supplies of cooking oil and wheat flour in Penang and no complaints of shortage have been received so far.

The Religious Affairs, Domestic Trade and Consumerism Committee chairman Datuk Abdul Malik Abul Kassim advised consumers to refrain from buying the goods in bulk and creating a shortage.

 "Consumers must also be smart in handling the crisis and report any hoarding by suppliers or shortages to authorities such as the Ministry of Domestic Trade, Cooperative and Consumerism," he said here Thursday.

He was commenting on a media report which quoted a consumer association in Kedah as saying there was a scarcity of the two items in the state for the past two weeks.

Prior to this Abdul Malik had a meeting with the Penang Domestic Trade, Cooperative and Consumerism Office, Penang Consumers Association, Pacific Hypermarket chain, Gama and Queensbay AEON supermarkets, Seberang Flour Mills Sdn Bhd, FFM Marketing Sdn Bhd, Johor Bahru Flour Mills Sdn Bhd and Kean Seng Trading Co.

"As a result of the meeting the state government hopes it can get a commitment from the responsible parties to resolve this crisis," he said.

-- BERNAMA

Please everyone, DO NOT SPECULATE !!! We have enough cooking oil, no need to do panic buy and stocked up....don't let irresponsible people earn and gain... 

9 things MUST KNOW about GST

Got this from kinibiz.com...worth a read and share :)

Prime Minister Najib Abdul Razak will make his 2014 Budget speech on Oct 25 and the long overdue GST is highly likely to be a major part of a package of reforms to address the growing fiscal deficit.

In 2009 a Goods and Services Tax Bill made it as far as Parliament only to be withdrawn for reassessment. The same is not likely to happen this time owing to fewer obstacles to the introduction of GST.

Once an announcement on the GST is made, actual implementation of the tax will be subject to a 14-month long implementation period for businesses to familiarise themselves with the new accounting standards.

Here are nine basic GST questions and answers courtesy of KiniBiz:

1. What is GST?

A goods and services tax (GST) is a tax on consumption or in other words, spending. To be more specific, GST taxes only the value-added portion of a good or service and is collected at every stage of the supply chain.

This means GST is enforced on primary industry producers, manufacturers and retailers alike, with the end consumer footing the final tax bill at the point of purchase. The accompanying table provides a simulated supply chain example.

A system of input tax credits ensures GST is only levied on the difference between the sale price and production cost. This is called the value-added portion.

All businesses are authorised to claim input tax credits once they are registered. Individuals on the other hand are not privileged to claim input tax credits. As a result, they bear the full GST burden.

Unless exempted by law, all goods and services (technical term: supply) in the course of furtherance of business in Malaysia are taxable. In international trade, imports are taxable whereas exports are exempt.

The pervasive nature of this consumption tax often leads economists to label it as a broad-based consumption tax

2. How will I be affected?

So long as a person participates in the economy as a consumer – practically everyone does – they will be nett GST payers once the tax is implemented.

Unlike income taxes, individuals will not need to fill in any forms or file returns; GST is collected on their behalf by businesses. As such, GST is considered an indirect tax.

Businesses may face additional paperwork. They will be obliged to maintain payment records in order to qualify for input tax credits as well as file returns on a regular basis. As a result, they may face compliance costs related to GST implementation.

The scope and reach of the GST, according to 2009 draft documents, means almost all goods and services – unless specifically excluded – will be taxed.

In a seminar, Tan Eng Yew, Country GST leader of Deloitte Malaysia shared an interesting analogy to illustrate the pervasiveness of the GST system:

“In Singapore, where the GST was introduced in 1994, taxi drivers often joke that the GST acronym stands for Government Semua Tax.”

If implemented as originally designed the tax would have very few exemptions. Draft documents for the Malaysian system, however, indicate several classes of basic goods and services as exempt from the system.

3. Is the GST a new tax?

The GST unit of the Royal Malaysian Customs maintains the original purpose of the GST as a replacement to the sales tax and service tax. Therefore it is not a new tax, strictly speaking

Sales tax is currently levied at a rate of 10% and has been in force since the 1970s. Service tax, meanwhile, is levied at a 6% rate.

The government’s intention has always been to replace the sales and service tax regime with GST and to do so at a GST rate that is revenue-neutral.

Sales and service tax will be abolished once the GST is eventually implemented.

Compared to the sales and service taxes, GST is considerably more efficient. Critically, GST has a broader tax base and does not have a cascading or compounding tax problem.

Many countries worldwide have embraced the GST as a replacement to a single-stage sales tax regime.

4. Why do we need the GST?

The GST unit of the Royal Malaysian Customs Department considers GST as a ‘method of collecting taxes which works better than others’ to explain the need for GST.

Economists, meanwhile, believe the government has very rightly approached the GST as a new source of income with a broad tax base as a means to begin to diversify tax revenue sources.

The government is spending more than it earns leading to a 2012 fiscal deficit, which in 2012 was 4.5% of GDP. Introducing a GST could help the government raise additional revenue, as consumption increases, to narrow the fiscal deficit.

News reports suggest the government is aiming to reduce the country’s debt position to below 55% of GDP and cut the fiscal deficit to 3% by 2015; an ambitious target.

5. Will the GST cause inflation?

Yes and no. Studies allowing for a GST rate of 4% predict some goods and services will increase in price while others may see a decrease. The overall impact is expected to be neutral.

Economic modelling studies by a tax review panel of the Ministry of Finance circa 2009 found that at a tax rate of 4% the GST would have little overall impact on the Consumer Price Index (CPI).

Because the GST is a replacement for the current sales and services tax (SST), goods that now carry a heavy SST tax burden will likely fall in price.

Conversely, goods and services not currently taxed under the sales and service tax regime will increase in price.

According to the GST unit of the Royal Malaysian Customs Department, any inflation will be one off, because the increase in prices would occur as single event. Following the spike inflation will return to the normal cycle.

Until an official announcement is made, inflation is difficult to predict, mainly because the government is yet to finalise the tax rate.

6. Will the GST be levied on basic necessities?

Similar to other countries worldwide that have implemented a GST, there will be a list of goods and services that are either exempted or zero-rated.

Draft documents list several classes of goods and services, mostly fresh food as zero-rated.

Tax officers at the Royal Malaysian Customs Department say traders could use the GST as an excuse to unscrupulously increase prices despite the fact that the introduction of the GST will not introduce inflationary pressure to exempt or zero-rated items.

Deloitte’s Tan says the government has powers to prosecute errant traders under the Anti-Profiteering Act, 2011 and may enforce the law during the early stages of GST implementation.

7. Will there be a corresponding fall in income tax to compensate?

News reports suggest that the government will introduce measures to alleviate the effects of the GST on prices for the lower income group.

Ministry of Finance secretary-general Mohd Irwan Serigar has come on record to say the GST will be introduced as a package. However, there are no concrete details pending an official announcement.

Cash handouts in the form of BRIM (the 1Malaysia People’s Assistance Programme) next year have been promised to help soften the blow of subsidy rationalisation and the GST.

But considering the fact that the GST is designed as a revenue-neutral replacement tax, additional measures such as an adjustment to income or corporate taxes are considered unnecessary at this stage.

In the event a decision is made to implement a GST rate higher than the revenue-neutral rate of 4%, then the government may consider lowering income tax rates said Inland Revenue Board (IRB) director-general Mohd Shukor Mahfar in a press conference last month.

8. Will the GST increase the cost of doing business?

First, the short answer. According to Deloitte’s Tan “GST is not a cost of doing business if you are not providing exempt supply.”

Although the tax is collected at every stage of the supply chain, the eventual burden falls upon the end consumer.

Therefore economists do not consider GST to have an effect on business-to-business transactions.

The only cost to businesses will be compliance costs related to GST implementation.

This is of course assuming that the business in question is on the straight and narrow. GST returns will require companies to report on their cost of doing business which will indicate to authorities the scale of their businesses.

9. Will the GST take more from the poor than the rich?

Economists call GST a regressive tax. That is, as a percentage of income, the GST will impact lower income individuals much more than high-income individuals.

The current draft of the Goods and Services Tax Bill has provisions to attempt to avoid this imbalance. Basic goods and services are either exempt from supply or zero-rated. That means they do not attract GST.

To protect small businesses there is a threshold of RM500,000 in annual turnover. Businesses below that threshold do not need to register nor collect GST.

Another question worth asking is if GST equates to double taxation of income. Technically this is true according to tax experts. Disposable income spent on goods and services that attract GST is income that has already been subject to income tax.

8 Questions You Should Ask Your Interviewer To Prove How Smart You Are

Hmmm...worth to read this article from businessinsider.my, nothing wrong to go through this...to me it's useful and good to know :)

Maybe you’re capable of having an acceptable answer for every question that the interviewer shoots your way, but if every other candidate does too, you’ll be easily forgettable.

To gain an advantage, you need to show the interviewer that you can ask the questions too.
In her book 301 Smart Answers to Tough Interview Questions, Vicky Oliver writes that she “learned the hard way to always come prepared with questions” at the beginning of her career. 

“A successful job interview is simply a productive conversation. Sometimes, depending on the personality of your future employer, this conversation may seem somewhat one-sided. For these situations you should arrive with an arsenal of questions to ask — just in case.”

Here are eight questions you should ask the interviewer to win them over.

Q: What are some of the problems your company faces right now? And what is your department doing to solve them?

Why this works: Asking this type of question gets the “conversation ball” rolling, and your interviewer will surely have an opinion.

Furthermore, their answers will give you insights into their personality, ambitions and will likely lead to other questions.
Source: 301 Smart Answers to Tough Interview Questions

Q: What type of employee tends to succeed here? What qualities are the most important for doing well and advancing at the firm?

Why this works: This question shows the interviewer that you care about your future at the company, and it’ll also help you decide if you’re a good fit for the position or not.

“Once the interviewer tells you what she’s looking for in a candidate, picture that person in your mind’s eye. She/he should look a lot like you.”
Source: 301 Smart Answers to Tough Interview Questions

Q: I noticed that you teach a night class at NYU School of Continuing Education. How long have you been teaching, and what are some of the things that you’ve learned from the experience?

Why this works: ”You brought up the fact that your interviewer is an acknowledged expert in his field before he did.”

Source: 301 Smart Answers to Tough Interview Questions

Q: What are your plans for combating Japanese competition in the full-size pickup market?

Why this works: Asking this type of question shows that you’ve already done your homework on the company.

“Ask questions that are simple, direct, and show that you’ve done you’re homework without a great deal of elaboration. Your interviewer can’t fail to be impressed and to take your job candidacy seriously.”               
Source: 301 Smart Answers to Tough Interview Questions

Q: Who would I be reporting to? Are those three people on the same team, or are they on different teams? What’s the ‘pecking order’?

Why this works: “Asking about the internal structure of a company or details about the specific job description can also help you position yourself as the ideal candidate. If you’re going to be working for several bosses, it’s important to understand the lay of the internal land, also known as the ‘pecking order.’ If you’re going to be managing several people, it’s a good idea to try to meet up with them.”
Source: 301 Smart Answers to Tough Interview Questions

Q: I read your CEO’s letter to the editor in Business Week. How did his insights about the emerging Hispanic market impact your Hispanic subsidiary? Did they end up winning a lot of new business as a result?

Why this works: Again, this proves that you’ve done your homework and are genuinely interested in the company.
Source: 301 Smart Answers to Tough Interview Questions

Q: How do you handle new business pitches? Who gets involved in generating new business at this company? Is there a team in place, and do they ‘cull’ employees from different teams, depending on the business that your firm is going after?

Why this works: “Star performers are usually anxious to get involved to get involved in the new business effort, even if they are not technically on the new business team. When you ask about new business, you’re signaling that you’re an A player.”

http://www.businessinsider.my

New Coins from Next Year 2012

Bank Negara will be introducing a new series of coins from early next year, replacing the current series which is 20 years old.

Meanwhile, the new series will be sold as commemorative coins from Tuesday, said Bank Negara Governor Tan Sri Dr Zeti Akhtar Aziz on Monday.

She also said new series of notes would be issued in Septemeber but declined to elaborate on this.

She said the new coins will go into general circulation only next year to enable coin machine operators, for instance, to recalibrate their machines accordingly.

The new coins - 50sen, 20sen, 10sen and 5sen - are smaller and lighter than the current coins, with more security features.

The coins also have features that make it easier for the visually-impaired to use.

She said the coins were designed by a Malaysian and wholly minted by Bank Negara's mint in Malaysia.

Looking at the new coins, looks a bit "not that nice" compared to the old ones...nothing to hoo haa about :p

Penang Star Property Fair 2011

Time to look for bargain property investment? I don't really think so, as the market for Penang is all targeted for high end investors with big figures for every properties being exhibited...sigh...

The Star Property Fair 2011
Date: 21 – 24 July, 2011

Time: 10am - 10pm
Venue: G Hotel & Gurney Plaza

The STAR, Malaysia’s leading English daily in collaboration with Henry Butcher Malaysia Penang, will be organising its annual The Star Property Fair from 21 – 24 July, 2011. This annual property exhibition offers prospective property investors with one of the largest showcase of choice properties in Penang.

The fair promises to be more exciting this year. The exhibition will showcase new and “yet to be revealed” real estate developments and the ever popular free public forums. A round table discussion with industry is being organized as a prelude to the fair.
Since its inception in 2003, The Star’s Property Fair has continued to reinvent itself to be the most sought after event in the Northern region of Malaysia.

With new elements being introduced annually, the most prestigious fair in the Northern region never failed to dazzle both exhibitors and visitors alike.

With the overwhelming success of The Star’s Property Fair last year, the committee of the event aims higher to include different dimension to the fair.

New pride of Penang ?

The following article is from the Star paper today. Are you proud of it? I will be if this really solve the traffic problem, else it's nothing to hoo-haa for me.

The 24km-long second Penang bridge is 54% completed and it is on track to be completed by Nov, 2013, said former Prime Minister Tun Abdullah Ahmad Badawi.

He said this assurance was given by the host of contractors involved in constructing the super structure linking Batu Maung on the island to Batu Kawan in Seberang Prai.

Abdullah also said that the project would also incorporate a uniquely designed technology known as High Damping Rubber Bearing (HDRB).

The RM4.5bil project is the first to use the HDRB technology which is designed to withstand the effects of earthquakes.

“HDRB is an innovative tool to protect not only the structure but also the materials and contents inside the structure,” Abdullah said.

“This feature is useful for critical structures as it can stand the test of time.

“I an also proud that the HRDB is designed by a Malaysian and like all Penangites, I am eagerly awaiting the completion of the bridge.

“The bridge will definitely be breathtaking,” he said.



He was speaking after attending a briefing session on the bridge’s progress work at the China Harbour Engineering Co Ltd (CHEC) (M) Sdn Bhd office in Batu Maung yes-terday.

Present was Jambatan Kedua Sdn Bhd managing director Datuk Dr Ismail Mohamed Taib.

Abdullah also expressed satisfaction with the progress of the construction which comprised five packages. including the RM2.2bil substructure by China-based CHEC and the RM1.5bil superstructure by Malaysia’s own UEM Builders Bhd.

The three main contractors for overland connections are Cergas Murni Sdn Bhd (for the RM67mil Batu Maung link), IJM Corp Bhd (RM350mil Batu Kawan link) and HRA Teguh Sdn Bhd (RM152mil link to North-South Highway).

The bridge is set to be the longest in South-East Asia.

This piece of news are just announced. Not sure any complications hidden or not. If it's transparent, then I do agree that this is a good news for all first time house buyers :)

Middle class Malaysians who are aspiring to buy a home will soon be able to do so once a new Government-led initiative to build apartments costing less than RM300,000 in major cities is launched this year, Housing and Local Government Minister Datuk Chor Chee Heung said.

The affordable housing scheme, which is an addition to the My First Home Scheme for units costing between RM100,000 and RM220,000, will see stratified units priced between RM220,000 and RM300,000 being built for those with a household income of less than RM6,000 a month and who do not yet own a house.

“The Government will do whatever it can to ensure the lower income group will have a house and the medium income group will have a chance to buy a property of their own,” he said in an interview with The Star.

Chor said the plan was for units to be between 850 sq ft and 1,000 sq ft and each apartment would have a minimum of three rooms.

The ceiling price of RM300,000 will be for units built in Kuala Lumpur, Penang and Johor Baru and the price will be lower in other parts of the country.

Robert Bosch to set up solar panel manufacturing facility in Penang Batu Kawan

This is a great piece of news. It justified why the investors and leaders in the state are stressing on producing more capable engineers :)

Stuttgart-based technology company Robert Bosch GmbH is investing RM2.2bil in a solar panel manufacturing plant in Batu Kawan, Penang, to mainly serve Asia's growing demand for solar energy.

The new plant would provide employment opportunities for 2,000 people, which would be an increase of some 40% of Robert Bosch's current workforce in the country, said Robert Bosch solar energy division head and Bosch Solar Energy AG chairman, Holger von Hebel.

He said this at a briefing yesterday following the announcement of the company's results for the financial year ended Dec 31, 2010 (FY10).

The investment comes on the heels of a recent announcement to build another manufacturing facility in Venissieux, France, to serve the southern European markets.

Von Hebel said construction of the Batu Kawan plant, to be located on an 80-acre site, would begin before the end of this year, with production to start by the end of 2013.

He said the new plant would also support and deliver components to other plants in North America and Europe.

The venture, said to be one of the largest overseas investment ever made by Robert Bosch, would further cement the global strategy of the company's photovoltaics business and presence in Asia, where solar energy demand is expected to see an average annual growth of 30% in the coming years.

“The planned facility will cover the entire value-added chain, from silicon crystals known as ingots and solar cells to the modules which can be installed on roofs or in solar power plants,” von Hebel said.

He said the plant would have an annual capacity of 800 megawatts peak (MWp) for wafers and 620MWp peak for cells. This would be on top of producing solar power plants with a total output of 640MWp and module production lines of 150MWp.

According to von Hebel, the company expect sales from the solar energy division to exceed one billion euros this year.


“The decision to build a new site in Asia reflects general developments in the global market for photovoltaics. By 2020, total installed output in the region is expected to reach some 130 gigawatts peak,” he said.

He added that the company's main plant in Arnstadt, Germany, together with the Batu Kawan plant would complement each other and help secure the future of the photovoltaics business.

Perodua unveils new MyVi unit, priced RM43,900 to RM57,400

Perusahaan Otomobil Kedua Sdn Bhd (Perodua) unveiled - the new MyVi -- an upgraded version of the best seller on Thursday night, June 16 and prices range from RM43,900 to RM57,400.

After five consecutive years as the country's best selling car, the Perodua Myvi five-door hatchback has been replaced by a new model that promises better safety, fuel efficiency and a string of new enhancements.

The new model comes in three variants -- standard, premium and elegance – and will be on display at all 178 Perodua sales and selected service outlets nationwide.

Perodua managing director Datuk Aminar Rashid Salleh said the new MyVi is more than mere aesthetic improvement to the design of the successful MyVi model which was launched in May 2005.

He said it was an improved variant in terms of both looks and functionality and it has received about 10,000 orders since booking opened on June 4.

The second national carmaker expects to sell about 8,500 units monthly. The price is from RM43,900 for the standard manual transmission and RM57,400 for the elegance automatic transmission on-the-road.

While still recognisably a Myvi, the new car has a more rounded front end and is 5mm lower to improve its aerodynamics.

Buyers can choose from three grades of Standard, Premium and Elegance, and transmission type of four-speed automatic or a five-speed manual.

While maintaining almost the same size as the outgoing model, the latest Myvi now includes electric power steering, projector headlamps and a two-tone dashboard.

In keeping with current automotive trends, the new Myvi includes upgraded safety features.

Where previously only the more expensive variants featured two front airbags, this item is now included across the range.

Also standard are Isofix mounting points for child seats and a three-point seatbelt for the rear centre passenger.

Premium and Elegance grades, however, get additional safety equipment such as anti-lock braking system with electronic brakeforce distribution and brake assist.

Audio system for the Standard grade Myvi is the radio/CD type with MP3/WMA but the Premium grade features additional USB and Bluetooth support. The Elegance gets a multimedia system that comes with satellite navigation.

The 1.3-litre engine is derived from the older Myvi model but has been retuned to get an extra 4bhp for a total of 90bhp promising improved performance.

The new models come in with a new colour ; mystical purple which is available for all variants. Other colors include ebony black, medallion gray, glittering silver, pearl white and ivory white.

I think we will be seeing more and more MyVi on the road....they will dominate the local car market for at least another few years...

ASTRO price adjustment invalid !!!

Astro must seek the approval of the Malaysian Communications and Multimedia Commission (MCMC) before raising the price of its paid television channel services, said the Minister of Information Communication and Culture Datuk Seri Dr Rais Yatim.

The payment for basic services charged by Astro to its subscribers will not be changed. For whatever addition, Astro must discuss first with the MCMC before deciding to increase its service charges," he said on Wednesday night, June 15.

Rais said the ministry would discuss with Astro on the issue and the notice issued by Astro to its subscribers was considered invalid as it did not get permission from MCMC beforehand.

Astro recently announced that it would carry out a price adjustment on the packages offered effective July 11 with the subscription based on the subscribers' package selection.

Some subscribers may be charged an increase of between RM1 and RM15 per month, while some would enjoy a reduction of between RM4 and RM14.95 per month.

OK, now the minister said it's invalid....so meaning price stay the same as of now?

10 cent drop in price of RON 97 effective 16th June 2011

The price of RON97 petrol will be reduced by 10 sen effective midnight yesterday, to RM2.80 per litre.

The chairman of the Petrol Dealers Association of Malaysia (PDAM), Datuk Hashim Othman, said the drop in the price of the fuel was in line with the current world market price.

"It's good that the price drops, it can ease the burden of RON97 petrol consumers, although only 10 sen, at least there is a reduction," he told Bernama, here tonight.

Since ealy this year, the price of RON97 petrol had been increased on four occasions to reach the current price of RM2.90 per litre.

However, the price of RON95 petrol remains at RM1.90 per litre. -- BERNAMA

Can we have lower price for RON 95 as well? It's so expensive nowadays especially when there's continuous traffic jam...