Interest rate held!

Thanks for the decision. Now perhaps you should look into how to ease the demand congestion, like more ngv outlets...

Bravo Malaysia.

Bank Negara holds off raising rates
By IZWAN IDRIS
PETALING JAYA: Bank Negara kept the overnight policy rate unchanged yesterday despite the pressure to rein in rising prices, as policymakers placed priority on sustaining economic growth.
“While both the risks to higher inflation and the risks to slower growth have increased, the immediate concern is to avoid a fundamental economic slowdown that would involve higher unemployment,'' the central bank said in a statement issued after a scheduled monetary policy meeting.
Bank Negara was originally expected to announce the meeting's outcome at 6pm yesterday, but the announcement was delayed by nearly two hours.


http://biz.thestar.com.my/news/story.asp?file=/2008/7/26/business/21930096&sec=business

OBW2008 Credit List

Assalamualaikum semua.
Kepada semua yang hadir, bak kata pepatah, yang bulat datang bergolek (jangan marah ha...) , yang pipih datang melayang, perhimpunan kali ini mengembalikan kenangan pahit manis 20 tahun lalu, 60 purnama bersama di Lorong Harimau. Tak habis kalau nak diceritakan hanya selama 2 hari bersama. Kepada kawan2 yang aku tak pernah jumpa since kita habis SPM, Nairul, Alimon, Goyang, terubat sudah rindu kami kepada engkorang semua. So kepada yang masih tak jumpa kengkawan lain after these 20 years of absence, make sure engkorang datang Reunion @40 nanti.

Ucapan terima kasih yang tak terhingga kepada contributors ($$$) terutamanya penaja utama OBW2008, ECE Bro Mahyudin (Green 86) dan COO yang hensem & macho, Long John. Sebagai tanda penghargaan kami, kami dengan besar hati akan mengekalkan iklan ECE di atas sana.
Juga tidak dilupakan sumbangan tenaga anda semua yang bermula dari bulan Nov07 lagi especially,

Jebat - registration, aku totally lepas tangan, aku nak kira duit je & the ransom negotiator! Salute you my man...

Pendekar - games , betoika yang menang Explorace tu team Satu, Dua , Tiga - bunyi macam hang tembak je...

Ustaz Zul - Tahlil, AGM - aku rasa depa ingat hang yang propose invite Ketua Bahagian PAS...

Dr Anuar Arshad -tima kaseh for the Kuliah Subuh and the motivation

Super Mokh - Emcee, hang boleh ganti RAB babe..

Jay, Nairul, Goyang & Long John -Keep the jokes flowing. Kalau tak dak cincin...

Sam Berg - nasib baik ada mini compo hang & also for the arrangement in SUK. Kalau nak beli hamper, gi beli kat Ipoh Garden, sebelah CIMBeng...

Kodiang, Ron & Wan - hey thanks for the hockey sponsorship & arrangement.

Goyang - sudah2 la dengan Venny tu...Sheri hang sms gambaq hang last year kat Goyang.

Mudin - you're the Superman mate... Total Back-up System

Pot - hey thanks for the collaboration for a ciput pay. Banyak album hang jual hari tu.

Naza - we can try again at Reunion @40 nanti...

Hijaz & prefects - yo bro thanks a lot for your support, hope engkorang enjoyed the dinner.

STAR Wind Orchestra - my man, thats the STARIANs spirit, rain or shine we will go out there and give our best shot! Oh when the STAR goes marching in...

Cikgu Zul - thanks for the support, it has been wonderful working with you.

Tuan Pengetua - semoga aspirasi cikgu menjadi kenyataan.

Last but not least, kepada STAROBA Committee Dato Hamzah, Dato Dr Awang, Abg Azlan, Saudara Syed Wazir, Saudara Anoiar, Saudara Tamunif dan committee yang lain, Fiver 86 Yazit Yeop Arbi, terima kasih atas support dan panduan anda semua.

Juga tak lupa kepada semua yang hadir dan REGISTER...

Over to you '89ers...

Change of Programme - STAROBA AGM Rescheduled

STAROBA AGM is being rescheduled to Saturday, 19th Jul 08, 3pm~5pm in the School Hall.

Clash of the Titans will start at 2pm~3pm on the same day and venue.

Rgds.

Unfolding the recession?

I think, and most people believe that the big "r" is just around the corner. I over heard people say the governor is ready to raise the interest rate...However I believe the governor doesnt think that way. She has been sticking to the rate for quite some time regardless of the situation, even when the US was cutting the rate, she kept the rate firm, and this time I believe she is not going to increase the rate. Why??? Because she had learned from 97 crisis to not to choke the economy when it is gasping for air!

I hope the governor can be more creative this time, forget about the oil price, dont just focus on the financial levers and switches, look at other things like how to contain the prices by neutralizing the demand by supplying enough to the market.How to channel the excess liquidity to higher return instruments without raising the rates, or conceptually how should we ease the demand bottleneck without raising the rates?

I believe there are many other mechanisms that can be used to ease the demand congestion that propel the price higher. In the US mainly, they prefer to tweak the rates lever simply because thats the only system that "they" control.But for us, there are many other things that we can do to cushion the freefall. Just like the oil price hike. Oil price shooting through the roof is not a problem to us, as we are making tonnes of money out of it. Our problem is that we dont have enough money for the development programs. That's why immediately after the subsidy restructuring, government announced an additional allocation of 30BilRM for the RMK9 initiatives.But is it wise eliminating the oil subsidy for the sake of growth as eliminating the subsidy itself is a huge drawback to the growth of the economy? The worst case is that even though we get back our RM625/Year, we have to pay more for other things. For instance the price of nasi ayam in my neighbourhood had been raised from 3.50 to 4.50, of course this one was the effect of compounding together with the rice price increase. So lets go back to the problem which was, the gov dont have enough money for development project! And the easiest way out was, take it from the subsidy!?

Why dont they think of a more adventurous move, like why dont we establish another petronas to double up the nation income so that we dont have to eliminate the subsidy or even why dont we set up another mof companies to dig out our minerals as commodity prices are exploding so that we dont have to eliminate the subsidy, or why dont we restructure the government operating costs so that we dont have to eliminate the subsidy, or why dont we raise a Sukuk or even initiating a PFI so that we can keep the subsidy or get a soft loan, which is very much better than raising the inflation rate for no reason! There are so many options out there that could be explored and saved our subsidy and spared us from this unnecessary inflation!!!

Hope the governor will think deep and wide this time, before she blunder unnecessarily!