A short “RALLY” to scale new heights ?

A rally to distribute “goodies” for rakyat to spend during “RAMADAN” in time for “HARI RAYA” !

In conjunction with the release of PLCs’ quarterly/mid-year financial results which mostly are said to be good and within expectation, operators are taking such opportunities to push up their counters and liquidate into strength for “CASH” and “FUND” as the next quarterly/half yearly financials are not expected to be better for most PLCs !

Another factor could be the “FEEL GOOD” reason that may suggest a run up in Equities as the SARAWAK STATE ELECTION could be near.

Investors and traders ought to be nimble with their trades as operators nowadays are much smarter than you think !

Note :

[ “Feel Good” – Inflation Index rising suggest consumers are spending but be aware that World Economic Recovery has slowed and Interest Rates are rising meaning an end to monetary and fiscal stimulus ! ]

 

Advice : Be careful with your investments and trades and Stock Picks ! 

 

July 23, 2010 10:41 AM

Sarawak Showcasing Score In UK To Woo British Investors

From Mohd Iswandi Kasan Anuar

LONDON, July 23 (Bernama) — The Sarawak state government is making efforts to showcase the Sarawak Corridor of Renewable Energy (SCORE) as an investor- friendly destination in the United Kingdom (UK) to woo investors.

As of May, SCORE has attracted investments totalling RM87.61 billion across sectors, making it one of the most enviable investment destinations in the country since its launch in 2006.

The corridor is located within the Central Region of Sarawak, stretching 320km along the coast from Tanjung Manis to Samalaju. It covers 70,000 sq km with a population of 607, 800 people.

The Tanjung Manis Halal Park is the first one-stop Halal Park in East Malaysia for upstream and downstream halal food and manufacturing activities under the corridor.

A high-level trade delegation of the state government led by Sarawak Chief Minister Tan Sri Abdul Taib Mahmud will attend several major events in the UK.

Taib will be accompanied by Special Advisor in the Chief Minister’s Office Tan Sri Adenan Satem, Tanjung Manis Halal Hub Development Executive Chairman Datuk Norah Tun Abd Rahman, State Financial Secretary Datuk Seri Ahmad Tarmizi Sulaiman, State Economic Planning Unit Director Datu Ismawi Ismuni and Regional Economic Development Authority Director Datuk Amar Wilson Baya Dandot.

Meanwhile, at the Sarawak Investment Symposium on Thursday, Ismawi gave a presentation on strategic investment opportunities in Sarawak in oil-based industries, aluminium, metal, glass, tourism, palm oil, timber-based, steel, nickel and zinc, livestock, fishing and aquaculture and marine engineering industries.

“We received a lot of enquiries during business matching not just for halal hub but also on SCORE, a lot of participants plan to look into renewable energy and oil and gas,” he told Bernama in an interview.

Ismawi said investors in strategic industries would enjoy attractive financial incentives offered by the Federal Government through the Malaysian Investment Development Authority (MIDA) like pioneer status, investment tax allowance and reinvestment allowance.

“We now have some serious marketing to do in UK to create awareness on the halal industry,” said Norah.

She said Tanjung Manis would continue to work closely with MIDA and Malaysia External Trade Development Corporation (Matrade) to promote the industry further.

Developments within the corridor would not only generate vast economic, business and employment opportunities but also lead to opgrading of infrastructures, utilities and social amenities, she said.

The symposium was supported by the Malaysian High Commission in London, the Commonwealth Business Council and the Muslim Council of Britain.

— BERNAMA

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By Agence France-Presse, Updated: 7/23/2010

Malaysian PM offers pre-polls “goodies” for key Borneo State !

Malaysian Prime Minister Najib Razak has travelled to a key state on Borneo island to make multi-million-dollar development promises in a bid to galvanise support ahead of landmark elections.

Najib arrived at the remote highland village of Long Banga in Sarawak state by helicopter on Thursday, accompanied by a high-powered team including four senior ministers.

Local politicians have said that state polls could be held in Sarawak as early as October, and the Barisan Nasional (BN) coalition — which rules nationally — is intent on a big win after humiliating 2008 general elections.

Pundits say that fresh nationwide elections could follow soon after the Sarawak polls, which will provide the BN with an indication of levels of support on Borneo that are key to its holding power nationally.

Najib’s four-hour visit to Long Banga, home to indigenous tribespeople, comes after the BN suffered a disastrous defeat to the opposition in a parliamentary by-election in Sarawak in May.

The premier was in an ebullient mood after receiving a spectacular welcome in Long Banga, telling some 2,000 people from the Penan, Kayan, Saban and Kenyah tribes that their welfare and economic needs will be guaranteed.

He was treated to a traditional hornbill dance, and performers in bright yellow and black outfits sang songs calling for the resolution of long-standing problems like land rights and infrastructure.

“The response is great. It was very spontaneous. The promises will be delivered,” Najib told AFP.

The premier pledged 100 million ringgit (over 31 million dollars) to complete the long overdue Beluru-Lapok road which connects the coastal town of Miri and villages in Baram district deep in Borneo’s interior.

He allocated six million ringgit for a mini hydro-electric dam for Long Banga, one million ringgit for a road linking the village to an airport, and 500,000 ringgit for a mobile medical clinic.

One Penan family trekked five hours through the jungle to hear Najib’s pledges.

“We have heard many promises. We are frustrated as our land problems are not solved yet,” Daud Sedin, 35, told AFP. “Maybe I will turn to the opposition now.”

The Penan are some of the most disadvantaged of Malaysia’s indigenous people. Najib did not address complaints that their traditional land is being razed by logging and plantations, nor allegations of rape by timber company workers against Penan women.

Henry Tugak, 52, a member of Parti Pesaka Bumiputera Bersatu, a governing coalition member and the ruling party in Sarawak, said many voters were dissatisfied after two decades of promises to build the Lapok road.

“Najib came here to steer Sarawakians to vote BN. But it is going to be tough. Victory is not going to be easy as there is also unhappiness with chief minister Abdul Taib Mahmud. Morally he should go,” he said.

Taib has been in power in Sarawak for 29 years and voters and businesses are increasingly disgruntled with his long reign.

Malaysia’s political landscape was transformed in the 2008 national elections which saw the opposition secure unprecedented gains, seizing five states and a third of parliamentary seats and threatening the BN’s half-century grip on power.

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