PUTRAJAYA, Dec 22 (Bernama) -- The country's new economic model is expected to be announced by Prime Minister Datuk Seri Najib Tun Razak at the end of February next year.
He said the new economic model will form the basis and direction of the country's economy in the future.
"It is a comprehensive model as it does not only cover the economy but encompasses all aspects of a nation's role.
"I will table it in February next year after it gets the approval of the cabinet ministers," Najib said during the Media Night organised by the Finance Ministry here.
Najib said he was given a briefing today by the members of the Economic Advisory Council on the framework of the new economic model.
"I have given my agreement in principle for the new economic model. I also wish to inform that the text will be prepared after this and it is expected to take a month to be ready.
"Once ready, it will be presented to the cabinet ministers for approval and subsequently according to plans, the country's new economic model will be announced at the end of February," he said.
Najib who is also Finance Minister said the 2010 Budget, government transformation programme and the new economic model will be the government's priorities in driving the country's economic agenda towards a more better, assured and a dynamic future.
Also present at the event were the Prime Minister's wife, Datin Seri Rosmah Mansor, Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah and Treasury Secretary General Tan Sri Dr Wan Abdul Aziz Wan Abdullah.
-- BERNAMA
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Tuesday, December 22, 2009
Singapore And EU Agree To Negotiate For FTA
By Zakaria Abdul Wahab
SINGAPORE, Dec 22 (Bernama) -- Singapore and the European Union (EU) have agreed to start negotiations for a free trade agreement (FTA).
The city-state's Trade and Industry Ministry said Tuesday this represented a milestone in Singapore's relationship with the EU, with whom it had robust and long-standing economic ties.
An FTA with the EU will be a key addition to Singapore's network of FTAs as the EU is Singapore's largest trading partner.
Between January and last month, Singapore's total trade with the EU stood at S$78.6 billion, accounting for 11.6 per cent of the island republic's total trade.
The EU is also Singapore's largest investor. In 2007, the EU invested S$150.8 billion in the city-state.
In 2008, Singapore was the EU's 15th largest trading partner globally, and EU-Singapore trade accounted for a third of EU-Asean trade, making the republic EU's largest trading partner among Asean member states.
-- BERNAMA
SINGAPORE, Dec 22 (Bernama) -- Singapore and the European Union (EU) have agreed to start negotiations for a free trade agreement (FTA).
The city-state's Trade and Industry Ministry said Tuesday this represented a milestone in Singapore's relationship with the EU, with whom it had robust and long-standing economic ties.
An FTA with the EU will be a key addition to Singapore's network of FTAs as the EU is Singapore's largest trading partner.
Between January and last month, Singapore's total trade with the EU stood at S$78.6 billion, accounting for 11.6 per cent of the island republic's total trade.
The EU is also Singapore's largest investor. In 2007, the EU invested S$150.8 billion in the city-state.
In 2008, Singapore was the EU's 15th largest trading partner globally, and EU-Singapore trade accounted for a third of EU-Asean trade, making the republic EU's largest trading partner among Asean member states.
-- BERNAMA
Sunday, December 20, 2009
Exercise Begins To Identify Unregistered Voters Among UMNO Members
SANDAKAN, Dec 20 (Bernama) -- Umno is to undertake an exercise over the next four months to identify who among its 3.4 million members have yet to register as voters.
Umno vice-president Datuk Seri Mohd Shafie Apdal said the records indicated that 661,231 Umno members had yet to register as voters and that Sabah had the highest number among the states, of 129,925 such members.
The exercise would determine the status of these Umno members, whether they were still alive, active or had left the party, he told reporters after launching an anti-drug sports programme for youths and a membership drive of the Batu Sapi Umno, here on Sunday.
"I have tabled the exercise implementation programme to the party's supreme council in a move to raise the number of Umno members registered as voters.
"The exercise is one of the important approaches on updating to face the next general election," he said.
Mohd Shafie, who is chairman of the Umno Membership Committee, said a list of Umno members who had yet to register as voters had been sent to all the divisions.
He also said that a special committee had been set up to undertake the identification exercise through participation of members in programmes such as carnivals.
"The exercise will take up to four months and then I will get the feedback from the divisions on the actual number of Umno members who have yet to register as voters," he said.
-- BERNAMA
Umno vice-president Datuk Seri Mohd Shafie Apdal said the records indicated that 661,231 Umno members had yet to register as voters and that Sabah had the highest number among the states, of 129,925 such members.
The exercise would determine the status of these Umno members, whether they were still alive, active or had left the party, he told reporters after launching an anti-drug sports programme for youths and a membership drive of the Batu Sapi Umno, here on Sunday.
"I have tabled the exercise implementation programme to the party's supreme council in a move to raise the number of Umno members registered as voters.
"The exercise is one of the important approaches on updating to face the next general election," he said.
Mohd Shafie, who is chairman of the Umno Membership Committee, said a list of Umno members who had yet to register as voters had been sent to all the divisions.
He also said that a special committee had been set up to undertake the identification exercise through participation of members in programmes such as carnivals.
"The exercise will take up to four months and then I will get the feedback from the divisions on the actual number of Umno members who have yet to register as voters," he said.
-- BERNAMA
Terengganu Police Launch Website
KUALA TERENGGANU, Dec 20 (Bernama) -- The Terengganu police have launched their website, www.polistrg.gov.my. in an effort to make the police more people-friendly.
State police chief Datuk Mohd Shukri Dahlan said crime related information and services would be posted on the website.
The public could lodge complaints and relay information to the police through the website, he told reporters after attending the presentation of outstanding awards to 246 police personnel and civil servants here on Sunday.
He said the website could enhance cooperation between the police and the public.
Mohd Shukri said the state police targeted to reduce crimes by 50 per cent within five years at the rate of 10 per cent yearly while crime prevention campaigns would focus on youths and students.
He said the police would hold a monthly entertainment programme at Dataran Batu Buruk besides exhibitions to get closer to the people.
-- BERNAMA
State police chief Datuk Mohd Shukri Dahlan said crime related information and services would be posted on the website.
The public could lodge complaints and relay information to the police through the website, he told reporters after attending the presentation of outstanding awards to 246 police personnel and civil servants here on Sunday.
He said the website could enhance cooperation between the police and the public.
Mohd Shukri said the state police targeted to reduce crimes by 50 per cent within five years at the rate of 10 per cent yearly while crime prevention campaigns would focus on youths and students.
He said the police would hold a monthly entertainment programme at Dataran Batu Buruk besides exhibitions to get closer to the people.
-- BERNAMA
Monday, December 14, 2009
Noble Invites Malaysians To Invest In Ghana Gold Project
KUALA LUMPUR, Dec 14 (Bernama) -- Australia- based mineral exploration company Noble Mineral Resources Ltd is inviting institutional investors in Malaysia and other Asian countries to participate in its Bibiani gold investment project in Ghana.
Noble is set to be a major gold producer after it recently won a tender to acquire Central African Gold Ghana Limited (CAGGL) from Investec Bank Ltd.
Noble's chairman Tunku Naquiyuddin Tuanku Ja'afar said investors could participate in the project via private placement of A$60 million, representing an opportunity to subscribe up to 45 per cent equity shares in Noble or up to 150 million shares.
"There is clearly a serious opportunity for Malaysian institutions to get involved through this private placement option," Tunku Naquiyuddin said at a press conference here Monday.
He said currently, there were ongoing talks with a number of major groups in Malaysia which have expressed interest to participate in the investment opportunity.
Noble, he added, already has a significant Malaysian interest through Global Gold Holdings Ltd, which is the largest corporate shareholder in Noble.
Tunku Naquiyuddin has a stake in Noble through Global Gold Holdings.
Noble's managing director Wayne D. Norris said CAGGL has the gold mine concession at a well-known site called Bibiani in Ghana which is estimated to have current gold resources of 1.624 million ounces, worth US$1.86 billion at the current market price of US$1,150 per ounce.
"CAGGL has a processing plant which can process up to 2.7 million tonnes a year and a significant mining fleet in good working order," Norris said at a media briefing here.
The acquisition of CAGGL includes a mining concession and prospecting licence measuring 100 square kilometres with mine workshops, accommodation, hospital, school and a working fleet of mine vehicles.
Noble's finance director Alan Taylor said the A$60 million raised from the private placement would be utilised for working capital and to upgrade the mine infrastructure.
"Noble will be taking over the debts of CAGGL and is currently negotiating with existing creditors. Noble has taken over the management of the mine and processing plant in Bibiani, Ghana," he said at the media briefing.
According to Noble's company secretary Anthony Ho, there is great potential in terms of the investment in the Bibiani gold investment project.
"Based on the current price of gold of US$1,100 per ounce and cost per ounce of between US$450 to US$550, there is a significant gap in terms of the profit margin," he said.
The company also said that there is potential for more upside in terms of the gold price as major gold producing sites in South Africa are producing less gold and with the continuing instability in world financial markets.
In addition, there is expectation that demand from central banks, including those in India and China, will increase in the coming years as they shift more of their reserves to gold from other asset classes which are mainly denominated in US dollar, it added.
-- BERNAMA
Noble is set to be a major gold producer after it recently won a tender to acquire Central African Gold Ghana Limited (CAGGL) from Investec Bank Ltd.
Noble's chairman Tunku Naquiyuddin Tuanku Ja'afar said investors could participate in the project via private placement of A$60 million, representing an opportunity to subscribe up to 45 per cent equity shares in Noble or up to 150 million shares.
"There is clearly a serious opportunity for Malaysian institutions to get involved through this private placement option," Tunku Naquiyuddin said at a press conference here Monday.
He said currently, there were ongoing talks with a number of major groups in Malaysia which have expressed interest to participate in the investment opportunity.
Noble, he added, already has a significant Malaysian interest through Global Gold Holdings Ltd, which is the largest corporate shareholder in Noble.
Tunku Naquiyuddin has a stake in Noble through Global Gold Holdings.
Noble's managing director Wayne D. Norris said CAGGL has the gold mine concession at a well-known site called Bibiani in Ghana which is estimated to have current gold resources of 1.624 million ounces, worth US$1.86 billion at the current market price of US$1,150 per ounce.
"CAGGL has a processing plant which can process up to 2.7 million tonnes a year and a significant mining fleet in good working order," Norris said at a media briefing here.
The acquisition of CAGGL includes a mining concession and prospecting licence measuring 100 square kilometres with mine workshops, accommodation, hospital, school and a working fleet of mine vehicles.
Noble's finance director Alan Taylor said the A$60 million raised from the private placement would be utilised for working capital and to upgrade the mine infrastructure.
"Noble will be taking over the debts of CAGGL and is currently negotiating with existing creditors. Noble has taken over the management of the mine and processing plant in Bibiani, Ghana," he said at the media briefing.
According to Noble's company secretary Anthony Ho, there is great potential in terms of the investment in the Bibiani gold investment project.
"Based on the current price of gold of US$1,100 per ounce and cost per ounce of between US$450 to US$550, there is a significant gap in terms of the profit margin," he said.
The company also said that there is potential for more upside in terms of the gold price as major gold producing sites in South Africa are producing less gold and with the continuing instability in world financial markets.
In addition, there is expectation that demand from central banks, including those in India and China, will increase in the coming years as they shift more of their reserves to gold from other asset classes which are mainly denominated in US dollar, it added.
-- BERNAMA
Friday, December 11, 2009
1Malaysia Gong Xi Fa Cai To Be Celebrated In Sabah On Jan 22
PENAMPANG, Dec 11 (Bernama) -- XPL Global Sdn Bhd, a corporate social responsibility organisation based in Kuala Lumpur, is all for Prime Minister Datuk Seri Najib Tun Razak's 1Malaysia concept.
It wants to organise and unite the people to celebrate the first 1Malaysia Gong Xi Fa Cai (Chinese New Year) to be held at the Kadazandusun Cultural Association (KDCA), near here from Jan 22 to Feb 21, next year.
XPL Global managing director Ling Joo Seng said the KDCA was chosen as the venue for the celebration because of the uniqueness of the place, as well as Sabah being the origin of the 1Malaysia concept.
He said the coming Year of the Tiger would be a new endeavour for KDCA to participate and celebrate the 1Malaysia Gong Xi Fa Cai with the Sabah people to embrace the message of cultural and social harmony among the multi-ethnic commmunities.
"We have a lot of activities during the month-long celebration and we hope all Malaysians will make this 1Malaysia Chinese New Year celebration, a successful and memorable one," he told reporters here today.
Ling said, during the celebration, KDCA would be converted into a one-stop Chinese new year market, with more than 100 outlets retailing all necessities, ranging from supermarket and departmental merchandises.
"We have also provide more than 100 food stalls promoting the best Sabah delicacies," he said, adding that the celebration would certainly be a hit for the people of Sabah.
Ling said the organiser would also display two dragons, measuring 120 feet long and 12 feet high at KDCA's main entrance.
Meanwhile, KDCA secretary-general Suman Yasambun said the association was honoured to be chosen as the venue for such an important event.
He said KDCA would play its role in fostering unity, friendship and cooperation among Sabah's multi-racial population.
-- BERNAMA
It wants to organise and unite the people to celebrate the first 1Malaysia Gong Xi Fa Cai (Chinese New Year) to be held at the Kadazandusun Cultural Association (KDCA), near here from Jan 22 to Feb 21, next year.
XPL Global managing director Ling Joo Seng said the KDCA was chosen as the venue for the celebration because of the uniqueness of the place, as well as Sabah being the origin of the 1Malaysia concept.
He said the coming Year of the Tiger would be a new endeavour for KDCA to participate and celebrate the 1Malaysia Gong Xi Fa Cai with the Sabah people to embrace the message of cultural and social harmony among the multi-ethnic commmunities.
"We have a lot of activities during the month-long celebration and we hope all Malaysians will make this 1Malaysia Chinese New Year celebration, a successful and memorable one," he told reporters here today.
Ling said, during the celebration, KDCA would be converted into a one-stop Chinese new year market, with more than 100 outlets retailing all necessities, ranging from supermarket and departmental merchandises.
"We have also provide more than 100 food stalls promoting the best Sabah delicacies," he said, adding that the celebration would certainly be a hit for the people of Sabah.
Ling said the organiser would also display two dragons, measuring 120 feet long and 12 feet high at KDCA's main entrance.
Meanwhile, KDCA secretary-general Suman Yasambun said the association was honoured to be chosen as the venue for such an important event.
He said KDCA would play its role in fostering unity, friendship and cooperation among Sabah's multi-racial population.
-- BERNAMA
90 Per Cent Of Flu Cases H1N1 Positive
By Vincent Low
BEIJING, Dec 11 (Bernama) -- The H1N1 Flu pandemic remains severe and widespread in China, with 90 per cent of flu cases reported over the past two weeks confirmed as H1N1 positive, the Chinese Ministry of Health said on Friday.
The ministry's emergency response office director, Liang Wannian, said medical experts predicted the pandemic would worsen in the next two months.
He said, this would especially be after the Spring Festival where mass movement of the population across the nation would make prevention and control of the disease more difficult.
At a press conference today, Liang urged local health authorities to expedite the vaccination processs as it was the most effective way to prevent the flu.
As of yesterday, the state food and drug administration has distributed 65.78 million doses of H1N1 Flu vaccines.
However, only 33.23 million people have been vaccinated so far.
Liang wants the vaccination process to cover 1.5 million people daily, to cope with the pandemic in the coming months.
-- BERNAMA
BEIJING, Dec 11 (Bernama) -- The H1N1 Flu pandemic remains severe and widespread in China, with 90 per cent of flu cases reported over the past two weeks confirmed as H1N1 positive, the Chinese Ministry of Health said on Friday.
The ministry's emergency response office director, Liang Wannian, said medical experts predicted the pandemic would worsen in the next two months.
He said, this would especially be after the Spring Festival where mass movement of the population across the nation would make prevention and control of the disease more difficult.
At a press conference today, Liang urged local health authorities to expedite the vaccination processs as it was the most effective way to prevent the flu.
As of yesterday, the state food and drug administration has distributed 65.78 million doses of H1N1 Flu vaccines.
However, only 33.23 million people have been vaccinated so far.
Liang wants the vaccination process to cover 1.5 million people daily, to cope with the pandemic in the coming months.
-- BERNAMA
Malaysia Beat The Odds To Make Semis
VIENTIANE, Dec 11 (Bernama) -- Malaysia beat the odds when they defeated defending champions Thailand 2-1 in their final group A match in the Laos SEA Games football competition here on Friday and will next meet hosts Laos in the semis.
In today's match at the Main Stadium of the Laos National Sports Complex here, K.Rajagobal's boys put paid to Thailand's hopes of advancing further in the competition. The Thais have never failed to make the cut to the last four in the last 36 years.
It was all the more sweet as it was a come from behind victory after Thailand were the first to score when Arthit Arthit Sunthorpit netted their only goal of the match in the 52nd minute.
But with 10 minutes left in the match, Malaysia turned the tables when Mohd Nasriq Baharom and Ahmad Fakri Saarani scored in succession in the 81st and 89th minutes respectively.
Earlier, Malaysia who were the underdogs initially had allowed the Thais to take the upperhand but though the Thais' twin stikers Sompong Soleb and did cause some problems, the backline stood firm while Malaysia's strike trio of Norshahrul Idlan Talaha, S.Kunalan and Safiq also gave the Thai defence a run for their money.
However, the first half ended goalless and on resumption, Rajagobal substitued Mohd Sabre Mat Abu with Mohamad Azmi Muslim to tighten up the defence and Mohd Asraruddin Omar in place of Baddrol Bakhtiar to shore up the midfield.
Thailand, coached by former Perak coach Steve Darby, also made some changes to their midfield.
Then in the 52nd minute, Arthit struck, floating in a deadball from two metres outside the box.
But this did not dampen the spirits of Rajagobal's boys who just kept piling on the pressure on the Thais and were duly rewarded in the 81st minute when Mohd Nasriq slammed home from a neat pass supplied by Mohamad Muslim Ahmad.
This stunned the Thais who immediately thereafter launched strike after strike but Malaysia's backline marshalled by keeper Mohd Sharbinee Allawee soaked in the pressure and did not yield.
And a minute before referee Pratap Singh of India blew the whistle, Ahmad Fakri Saarani had the some 100 Malaysian supporters present jumping in joy when he deflected a cross from Norshahrul Idlan Talahan into the Thai goal.
On hand to witness the epic encounter was Deputy Youth and Sports Minister, Datuk Razali Ibrahim.
Malaysia began their campaign in Group A by hammering Timor Leste 11-2 but thereafter went down 1-3 to Vietnam. In the third group match, Malaysia demolished Cambodia 4-0 and after the win over the Thais emerged as runners-up in the group.
The first leg semifinal will be held on Monday. Vietnam who topped Group A meet Singapore, the runners-up of Group B, in the other semifinal. The other teams in Group B were Myanmar and Indonesia.
MALAYSIA: Mohd Sharbinee Allawee Ramli, Mohd Sabre Mat Abu (Mohamad Azmi Muslim), Mohd Nasriq Baharom, Mohamad Aidil Zafuan Abd Radzak, Norshahrul Idlan Talahan, Baddrol Bakhtial (Mohd Asraruddin Omar), Ahmad Fakri Saarani, Safiq Rahim, K.Gurusamy (Amar Rohidan), S.Kunanlan, Mohamad Muslim Mohamad.
THAILAND: Kawin Thamsatchanan, Ponlawat Wangkahad, Kiatprawutsawae, Suttinun Phukhom, Arthit Sunthorpit (Sumanya Purisay), Kirati Keawsombut, Piyachart Thamaphan, Khapfa Boonmatoon, Sompong Soleb, Anawin Jujeen (Apipoo Suntornpanavej), Adul Lahsoh.
-- BERNAMA
In today's match at the Main Stadium of the Laos National Sports Complex here, K.Rajagobal's boys put paid to Thailand's hopes of advancing further in the competition. The Thais have never failed to make the cut to the last four in the last 36 years.
It was all the more sweet as it was a come from behind victory after Thailand were the first to score when Arthit Arthit Sunthorpit netted their only goal of the match in the 52nd minute.
But with 10 minutes left in the match, Malaysia turned the tables when Mohd Nasriq Baharom and Ahmad Fakri Saarani scored in succession in the 81st and 89th minutes respectively.
Earlier, Malaysia who were the underdogs initially had allowed the Thais to take the upperhand but though the Thais' twin stikers Sompong Soleb and did cause some problems, the backline stood firm while Malaysia's strike trio of Norshahrul Idlan Talaha, S.Kunalan and Safiq also gave the Thai defence a run for their money.
However, the first half ended goalless and on resumption, Rajagobal substitued Mohd Sabre Mat Abu with Mohamad Azmi Muslim to tighten up the defence and Mohd Asraruddin Omar in place of Baddrol Bakhtiar to shore up the midfield.
Thailand, coached by former Perak coach Steve Darby, also made some changes to their midfield.
Then in the 52nd minute, Arthit struck, floating in a deadball from two metres outside the box.
But this did not dampen the spirits of Rajagobal's boys who just kept piling on the pressure on the Thais and were duly rewarded in the 81st minute when Mohd Nasriq slammed home from a neat pass supplied by Mohamad Muslim Ahmad.
This stunned the Thais who immediately thereafter launched strike after strike but Malaysia's backline marshalled by keeper Mohd Sharbinee Allawee soaked in the pressure and did not yield.
And a minute before referee Pratap Singh of India blew the whistle, Ahmad Fakri Saarani had the some 100 Malaysian supporters present jumping in joy when he deflected a cross from Norshahrul Idlan Talahan into the Thai goal.
On hand to witness the epic encounter was Deputy Youth and Sports Minister, Datuk Razali Ibrahim.
Malaysia began their campaign in Group A by hammering Timor Leste 11-2 but thereafter went down 1-3 to Vietnam. In the third group match, Malaysia demolished Cambodia 4-0 and after the win over the Thais emerged as runners-up in the group.
The first leg semifinal will be held on Monday. Vietnam who topped Group A meet Singapore, the runners-up of Group B, in the other semifinal. The other teams in Group B were Myanmar and Indonesia.
MALAYSIA: Mohd Sharbinee Allawee Ramli, Mohd Sabre Mat Abu (Mohamad Azmi Muslim), Mohd Nasriq Baharom, Mohamad Aidil Zafuan Abd Radzak, Norshahrul Idlan Talahan, Baddrol Bakhtial (Mohd Asraruddin Omar), Ahmad Fakri Saarani, Safiq Rahim, K.Gurusamy (Amar Rohidan), S.Kunanlan, Mohamad Muslim Mohamad.
THAILAND: Kawin Thamsatchanan, Ponlawat Wangkahad, Kiatprawutsawae, Suttinun Phukhom, Arthit Sunthorpit (Sumanya Purisay), Kirati Keawsombut, Piyachart Thamaphan, Khapfa Boonmatoon, Sompong Soleb, Anawin Jujeen (Apipoo Suntornpanavej), Adul Lahsoh.
-- BERNAMA
Thursday, December 3, 2009
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