Justunittrust | 2010-it's a wrap ! Part 2
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2010-it's a wrap ! Part 2

2010-it's a wrap ! Part 2

con’t from Part One.

OUR FBMKLCI January – December 2010 : B-E-A-U-T-I-F-U-L uptrend with only hiccups in months of February & June….


July

  • Malaysia – subsidy rationalisation program starting with petrol & diesel prices (up 5 sen), LPG natural gas (up 10 sen) and gula (up 25 sen). BNM increase further OPR to 2.75% to further suppress inflation and prospects of asset bubble driven by too much liquid or “hot money” in the system.
  • China – 2Q’2010 GDP cooled off slightly. The USA economy continue to recover further, although unemployment remain stubbornly high (with jobs mostly relocated to China and Emerging Asia economies) while Euroland emit a sign of relief from its high debt issues.

[if government spend banyak – subsidizing pencen, health benefits, dan lain-lain, Malaysia too can end up like Euro zone. Thus, I am a strong supporter of Idris Jala reforms. Love ya moves !]

[Jas : berangkat ke tanah suci Madinah & Mekah pada tanggal 30 July untuk menunaikan Umroh…. spiritual pleasure]

August

  • Malaysia – RM hits high of 13 years vs-a-vs USD with Malaysia 2Q 2010 GDP of 8.9%.

[Jas : pulang ke tanahair tanggal 14 Ogos… Kaabah is so ELEGANT and perasaan sebak dan sedih meninggalkan Makkah Mukarammah… boo hoo hoo]

[JUST : bulan Ramadhan kebiasaannya kurang aktivit keduniaan, dengan harapan aktiviti spiritual dapat dipertingkatkan]

September

  • Malaysia – RM hit a further high vs-a-vs USD at 3.10 and BNM maintained OPR at 2.75%
  • Malaysia’s Economic Transformation Programme (ETP) revealed – outlined key economic targets for the next 10 years.
  • Malaysia declared new holiday “Satu Malaysia Day” on 16th September every year.
  • China – Yuan under further pressure.

[Jas : Seronok berhari Raya Aidilfitri di Kuala Lumpur, zero traffic jam but sedih takde kampong. Tak macam sambutan raya “as seen on tv”… Exam UPSR, semua kaum ibubapa stress dan pressure naik … Melawat Spain – Barcelona dan Madrid. Fell in love with Jose Maurinho]

October

  • Malaysia – PM Najib announced Budget 2011; outlined the government’s plan to transform Malaysia’s economy with practical and prudent moves & grooves. Pleasant budget with not much to shout about.
  • China – pledge support for Euro and stronger ties with European Union. China 3Q 2010 GDP slowed to 9.6% although inflation further rise.
  • US – planned a second round of flushing liquidity into the economy. They termed it “Quantitative Easing” (QE-2) to help economy beat and dance faster pace of growth.

November

  • Malaysia – Higher price of petrol (RON97 up 5 sen to RM2.15/litre) as part of rationalisation effort. Therefore, best that BNM kept OPR at 2.75% with GDP 3Q 2010 showing slight easing to 5.3% yoy.
  • Asia – risk asset bubble from “hot money” flow as a consequent of US pumping money into its economy (via QE2 – bond-buying USD600bil). North Korea hit on an island belonging to South Korea.
  • Euroland – problem in Ireland’s fiscal position creating fresh jitters over Eurozone debt situation.

[JUST : pressure mounting over NSC Trip qualification. Everyone wants to fly free to New Zealand !]

December

  • Malaysia – more subsidy rationalisation moves when RON97 price increased by 15 sen to RM2.30/litre, RON95 & diesel up 5 sen respectively to RM1.90/litre and gula up 20sen to RM2.10/kg [Jas : by this time no one really felt or protest over rationalisation, it was like a normal thing by now. “Alah bisa, tegal biasa”]
  • Malaysia – ended the year with a BANG ! Winning the Suzuki Football final on 28 December 2010 and given an ad-hoc holiday on 31 December 2010. So looks like we’ll end the year with OPR at 2.75% and FBMKLCI at marginally above 1520 (peak this year around 1535).
  • Asia – growth still strong but moderated.
  • USA – more indicators point to recovery
  • Korea tension eased.
  • Euroland debt worries continue to haunt the global economy.

[Jas : plan to go cuti-cuti next year ke New Zealand @ May (bersama kawan-kawan se Public Mutual) dan Morocco @  Jan/Feb (Casablanca & Marakesh – family trip)   :-)]

<END>

2011 pix – Logo for Goal Setting 2011 compliments by Raimy Hardev.

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