Tuesday, July 22, 2014

HPGS Monthly Draw for June 2014

It was that time of the month again and all the eligible purchasers gathered at the Harbour Place Sales Gallery for the HPGS's monthly draw of June. As usual, anticipation was high among the crowd as they waited for the draw to commence.

Congratulations to the lucky winner for this month's draw.

Like last month, three lucky purchasers also won the complimentary 3 days 2 nights stay at the Swiss-Garden Resort.

Monday, July 14, 2014

Woodsbury Property Showcase at Queensbay Mall (10 - 13/07/2014)

Last weekend Woodsbury Suites held a property showcase at Queensbay Mall. Many came to inquire about the luxury service condominiums and were interested in finding out more about this new lifestyle living that will provide a modern and innovative option which Woodsbury hopes to provide to the market. 

Thursday, July 3, 2014

GST inflationary impact will fade within 2 years

THE inflationary impact of the Goods and Services Tax (GST) that will be rolled out in April next year will likely fade within two years of its implementation. Malaysian Rating Corp Bhd (MARC) estimated that the GST will push the headline Consumer Price Index (CPI) to above four per cent temporarily and the inflation level will then normalise within two years, based on the experience of Singapore, Australia and China.

Its chief economist Nor Zahidi Alias said the initial increase of above four per cent was because inflation has been on a rising trend with the government’s ongoing subsidy rationalisation measures. “Domestically, the possible pre-GST price rally will be among the key determinants of the degree of price increases in the second half of the year.” MARC expects the CPI to average around 3.5 per cent this year before edging up to 4.4 per cent next year. Inflationary issues will capture the attention of both the man on the street and the authorities as the latter manoeuvres policies to deal with internal and external sources of inflation. 

“Externally, developments in global food and commodity prices will have an important bearing on Malaysia’s CPI trend,” Nor Zahidi said, referring to elevated global crude oil prices in the wake of rising geopolitical risks in Iraq. The Food and Agriculture Organisation’s (FAO) Food Price Index, which leads Malaysia’s inflation gauges, has rebounded since hitting its trough in December 2012, keeping Malaysia’s food index and headline CPI growth higher than the preceding year. “With the expected build-up in inflationary pressures, Bank Negara Malaysia will be prompted to adjust its moneta-ry accommodation stance to be ‘ahead of the curve’ and avert stronger-than-expected headline CPI numbers in the near term.”

The agency expects the Overnight Policy Rate (OPR) to be nudged up by 25 basis points this year, with the possibility of another similar hike. The high level of household indebtedness as well as a resilient economic momentum on the back of a recovery in global demand have led to the central bank’s hawkish tone in its policy meeting in May. On growth prospects, MARC said external demand is key to stronger headline growth this year, although domestic demand will lend support. “Gross export growth on a three-month moving average accelerated to a double-digit pace in the five months ended April, pushing its average monthly trade balance to RM8.8 billion in the first quarter of the year from barely RM2.7 billion in the second quarter of last year. 

The near-term prospects for the semiconductor sector also look more encouraging, judging by the improvement in the United States book-to-bill (BTB) ratio, which has climbed from its cyclical low in October 2012. “Rising global chip sales, evidenced by double-digit growth rates since February, will further benefit Malaysia’s electronics and electrical sector going forward.” While consumer spending will likely remain relatively resilient with a 6.8 per cent forecast this year, some moderation may take place due to the anticipation of stronger inflationary pressures in the economy in the second half, he warned. On the investment front, MARC expects private investment to remain a strong driver this year.

The Economic Transformation Programme has made respectable progress since its implementation more than three years ago and remains exciting. “We believe that with reasonable costs of borrowing, together with supportive government policies, private investment momentum will remain vibrant in the near term,” he said, adding that private investment growth estimate has been hiked to 12 per cent from 11 per cent previously.

Source: NST Online
Thursday, 3rd July 2014