KUCHING: The Sarawak state government has recorded budget surpluses over a number of years, including RM110.1 million for last year against revenue of RM7.2 billion and ordinary expenditure of RM7.09 billion. The Sarawak Ministry of Finance and Economic Planning in a statement here today, said these continuous budget surpluses had enabled the state to build up its reserve. “As such, the statement by the Federal Minister of Finance that Sarawak would go bankrupt if it continued to be ruled by Gabungan Parti Sarawak is totally misleading and with a political motive,” it added. The statement also said the auditor-general had accorded Sarawak an unqualified report for the past 17 consecutive years and international ratings agencies, namely Moody’s and Standard and Poor’s had also re-affirmed the state’s commendable investment credit rating at A3 and A- respectively. The ministry also said the state government would continue to strengthen its financial … [Read more...] about Sarawak refutes bankrupt claim, cites surpluses as proof
NO FEWER than six acclaimed Japanese restaurants have opened their first outlets in Thailand at Siam Takashimaya, the department store within Bangkok’s Iconsiam retail palace. All are well known in their homeland and all are confident they can tantalise the Thai palate with their respective variants on omakase, teppanyaki, sushi and sashimi, donburi, tonkatsu and shabu shabu. Masa by Otaru Masazushi offers omakase-style dining with prime ingredients, mainly from Hokkaido. The new Rose Dining zone is decked out in a minimalist style with warm lighting and cosy wood furnishings. There’s a serene and undeniable Zen-like appeal to the area, where all six outlets have set up shop. Famed sushi restaurant Otaru Masazushi, a mainstay of the harbour town of Otaru in Hokkaido for 80 years, imports fresh produce for its classy omakase meals for which the chefs set the menu according to seasonal ingredients. The Bangkok outlet is called Masa by Otaru Masazushi. It has 10 seats … [Read more...] about It’s Japanese-food heaven!
SINGAPORE: During Chinese New Year last year, retiree Kenneth Tang wanted to visit his sister-in-law at her home in Upper Bukit Timah, in a relatively secluded area he was unfamiliar with.Instead of getting driving directions with a few taps of his smartphone, the 64-year-old sat in his living room, put on his reading glasses and studied the route on the pages of his 2018 street directory.“I think GPS is more convenient and better in many ways, but I use road directories because I can have a better idea of how to get to the place I am going to,” he told CNA.Mr Tang said the directory allows for more flexible alternative route planning in the event of congestion, and gives a clearer picture of nearby car parks – crucial for peak times when every lot has been snapped up.“I use road directories also because I have been using it for years, long before GPS was available,” he added. “My friends and I who are from the older generation have been … [Read more...] about In the age of online maps, who needs street directories anymore?
KUALA LUMPUR: Finance Minister Lim Guan Eng is confident that Malaysia is on the right track to strengthen its economy and fiscal status by 2021, leading the way to regaining its position as an Asian Tiger. The government intends to reduce the current debt and liabilities of RM1.087 trillion or 80.3% of the GDP in the course of this period to 65% through the renegotiation of mega-projects such as the mass rapid transit. Soon after his appointment to one of the toughest jobs in the federal government, Lim announced that government debt and liabilities had exceeded RM1 trillion, a figure that fuelled market anxiety and raised the prospect of a credit-rating downgrade. The breakdown included federal government debt of RM686.8 billion or 50.8% of GDP and government guarantees of RM199.1 billion or 14.6% of GDP. “After a six-seven month effort by the government, the debts and liabilities were reduced to RM1.07 billion or a reduction of RM17 million. “But, from the aspect of a … [Read more...] about Malaysia on right track to regaining Asian Tiger status: Lim
PETALING JAYA: Cagamas Holdings Bhd achieved its highest total aggregate issuances since 2008 worth RM15.8 billion last year, comprising 22 new Cagamas debt securities and five new Cagamas foreign currency issuance exercises. “The company’s issuances were well subscribed at competitive levels which evidenced continued resilience and strength of the domestic fixed income markets as well as investor confidence in the company’s credit rating profile,” chairman Nik Mohd Hasyudeen bin Yusoff said in a statement. For the financial year ended Dec 31, 2018 (FY18), the group - including Cagamas Bhd, Cagamas MBS Bhd and Cagamas SRP Bhd - achieved a profit of RM416.5 million compared with RM414.3 million in 2017. Cagamas and Cagamas MBS remained as key contributors to the financial results of the group. Cagamas said its initiative to continue innovating new foreign currency offerings were well received by investors leading to successful issuances in Hong Kong dollars, … [Read more...] about Cagamas records RM15.8b issuances in 2018, highest since 2008