http://turbobit.net/download/folder/1522499
2013年12月16日星期一
2013年12月13日星期五
Ringgit closes lower against US dollar
KUALA LUMPUR: The ringgit finished the week lower against the US dollar today on selling pressure ahead of the weekend, dealers said.
At 5 pm, the ringgit was quoted at 3.2340/2370 to the US dollar compared to 3.2280/2310 at yesterday's close.
They said the decline in risk taking on renewed concerns that the US Federal Reserve may start tapering its stimulus plan soon caused the local unit to remain under pressure.
In contrast, the greenback firmed on the global market on the back of an upbeat US retail sales report.
Meanwhile, the ringgit was little changed against the Singapore dollar at 2.5753/5797 from 2.5758/5784 yesterday, but emerged firmer against the yen at 3.1222/1263 from 3.1355/1399 on Thursday.
The domestic currency was traded slightly higher against the British pound at 5.2863/2918 from 5.2939/2001 on Thursday, while changing little against the euro at 4.4497/4544 from 4.4488/4536 yesterday.
At 5 pm, the ringgit was quoted at 3.2340/2370 to the US dollar compared to 3.2280/2310 at yesterday's close.
They said the decline in risk taking on renewed concerns that the US Federal Reserve may start tapering its stimulus plan soon caused the local unit to remain under pressure.
In contrast, the greenback firmed on the global market on the back of an upbeat US retail sales report.
Meanwhile, the ringgit was little changed against the Singapore dollar at 2.5753/5797 from 2.5758/5784 yesterday, but emerged firmer against the yen at 3.1222/1263 from 3.1355/1399 on Thursday.
The domestic currency was traded slightly higher against the British pound at 5.2863/2918 from 5.2939/2001 on Thursday, while changing little against the euro at 4.4497/4544 from 4.4488/4536 yesterday.
WFE forms global cyber security committee
INGAPORE: The World Federation of Exchanges (WFE) has launched the exchange industry's first cyber security committee with a mission to help in the protection of global capital markets.
The working group would bring together representation from a number of exchanges and clearing houses across the globe to collaborate on best practices in global security, WFE said in a statement today.
It said the Cyber Security Working Group will be chaired by Mark Graff, Chief Information Security Officer, NASDAQ OMX, and vice-chaired by Jerry Perullo, Vice President, Information Security, IntercontinentalExchange (ICE).
The founding committee members include Australian Securities Exchange, BMandF Bovespa, CME Group, The Depository Trust and Clearing Corporation, ICE, International Securities Exchange, NASDAQ OMX, NYSE Euronext ICE, Saudi Stock Exchange, Singapore Exchange, SIX Swiss Exchange and Toronto Stock Exchange.
The Working Committee chairman, Ravi Narain said: "The creation of this committee group is a significant milestone for the global exchange community."
Noting that cyber security is a crucial issue to global markets and paramount to maintaining market integrity and resiliency, he said: "We are pleased with the positive collaboration in this committee, which will transcend competitors and regions in order to tackle key issues and present best practices.
"We believe that the formation will universally benefit the financial markets of the world," he said.
In addition to developing cyber security best practices, the Cyber Security Committee will focus on establishing a communication framework among participants based on mutual trust.
Apart from facilitating information sharing including threat intelligence, attack trends and useful policies, standards and technologies, it will also focus on enhancing dialogue with policymakers, regulators and government organisations on cyber threats for fair, transparent and efficient markets.
It will also focus on supporting improved defence against both external and internal cyber-based threats on the markets.
Meanwhile, Graff said: "I'm proud to be working with some of the brightest information security officers in the exchange industry around the world.
"We are tasked with a significant goal; to build universal best practices and partner with third-parties to combat systemic cyber abuse to ensure the resiliency and strength of our capital markets.
"I look forward to addressing this head on with the founding committee and new members alike."
WFE is the trade association for the operators of regulated financial exchanges.
With 62 members worldwide, it develops and promotes standards in markets, supporting reform in the regulation of OTC (over-the-counter) derivatives markets, international cooperation and coordination among regulators.
The working group would bring together representation from a number of exchanges and clearing houses across the globe to collaborate on best practices in global security, WFE said in a statement today.
It said the Cyber Security Working Group will be chaired by Mark Graff, Chief Information Security Officer, NASDAQ OMX, and vice-chaired by Jerry Perullo, Vice President, Information Security, IntercontinentalExchange (ICE).
The founding committee members include Australian Securities Exchange, BMandF Bovespa, CME Group, The Depository Trust and Clearing Corporation, ICE, International Securities Exchange, NASDAQ OMX, NYSE Euronext ICE, Saudi Stock Exchange, Singapore Exchange, SIX Swiss Exchange and Toronto Stock Exchange.
The Working Committee chairman, Ravi Narain said: "The creation of this committee group is a significant milestone for the global exchange community."
Noting that cyber security is a crucial issue to global markets and paramount to maintaining market integrity and resiliency, he said: "We are pleased with the positive collaboration in this committee, which will transcend competitors and regions in order to tackle key issues and present best practices.
"We believe that the formation will universally benefit the financial markets of the world," he said.
In addition to developing cyber security best practices, the Cyber Security Committee will focus on establishing a communication framework among participants based on mutual trust.
Apart from facilitating information sharing including threat intelligence, attack trends and useful policies, standards and technologies, it will also focus on enhancing dialogue with policymakers, regulators and government organisations on cyber threats for fair, transparent and efficient markets.
It will also focus on supporting improved defence against both external and internal cyber-based threats on the markets.
Meanwhile, Graff said: "I'm proud to be working with some of the brightest information security officers in the exchange industry around the world.
"We are tasked with a significant goal; to build universal best practices and partner with third-parties to combat systemic cyber abuse to ensure the resiliency and strength of our capital markets.
"I look forward to addressing this head on with the founding committee and new members alike."
WFE is the trade association for the operators of regulated financial exchanges.
With 62 members worldwide, it develops and promotes standards in markets, supporting reform in the regulation of OTC (over-the-counter) derivatives markets, international cooperation and coordination among regulators.
Asian shares mixed; dollar, euro at five-year highs
HONG KONG: Asian markets were mixed Friday while the dollar and euro hit five-year highs against the yen, as more positive US economic data fuelled speculation the Federal Reserve will announce a cut to its stimulus programme next week.
With attention now fully on the US central bank's policy meeting, each release pointing to a strengthening economy is being pounced on as another step towards a wind-down of the bond-buying scheme.
Tokyo jumped 0.40 percent as the yen tumbled, with the Nikkei adding 61.29 points to 15,403.1, while Sydney rose 0.71 percent, or 35.9 points, to end at 5,098.4. But Seoul eased 0.26 percent, or 5.02 points, to close at 1,962.91.
Hong Kong added 0.12 percent, or 27.84 points, to end at 23,245.96 while Shanghai finished 0.31 percent lower, giving up 6.72 points to 2,196.08.
Global equities have seen a broad sell-off over the past four days after positive economic numbers — including falling unemployment and strong economic growth figures — have strengthened the argument for a December cut to the Fed's $85 billion a month asset-purchasing.
Those expectations were reinforced on Thursday after the government said retail sales grew 0.7 percent in November, above the forecast 0.6 percent and pointing to building confidence among US shoppers, a key driver of economic growth.
"The conclusion must be that it is increasingly likely the much debated Fed taper begins next week," National Australia Bank said.
The likelihood of a stimulus cut hit Wall Street, where the the Dow fell 0.66 percent, the SandP 500 declined 0.38 percent and the Nasdaq shed 0.14 percent, marking a third straight loss.
"Investors continue to fret over the Federal Reserve's policy meeting," Chibagin Asset Management general manager for research Yoshihiro Okumura told Dow Jones Newswires. "Until the Fed's decision is made weak market sentiment will continue to persist."
But Naoki Fujiwara, fund manager at Shinkin Asset Management, said traders' fears about a slowdown in Fed easing were misplaced. "The market is overreacting. Tapering itself is not a bad thing, as the US economy has shown improvements.
"Besides, the start of tapering would not mean the end of monetary easing," he said.
Yen faces downward pressure
With the prospect of less cash being printed by the Fed — in turn leading to a pick-up in demand — the dollar climbed towards highs not seen since October 2008.
It peaked at 103.92 yen in Tokyo trade while the euro touched 142.82 yen — both highs not seen since October 2008. However, they eased a tad in the afternoon, with the dollar at 103.60 yen and the euro at 142.59 yen.
The Japanese unit has also been pressured by a growing sense that the Bank of Japan will add to its own monetary easing scheme after a marked slowdown in the country's third-quarter economic growth.
Dealers said the BoJ's Tankan business confidence survey due Monday will give a better idea of plans for its stimulus, which it put into effect in April.
"Investors will be looking for a cue to sell the yen stemming from the BoJ's additional easing," said Citigroup Global Market Japan chief forex strategist Osamu Takashima.
The yen has lost about a quarter of its value against the dollar since late last year when, as leader of the opposition Shinzo Abe, who is now prime minister, promised a policy blitz to stoke the economy.
The euro was also at $1.3765 against $1.3752.
The Australian dollar sank to a three-and-a-half-month low of 89.22 US cents after the head of the country's central bank said he wanted to see it at 85 to help stimulate trade-exposed sectors of the economy.
Glenn Stevens also told the Australian Financial Review he expected the Fed to scale back its stimulus "before too much longer".
On oil markets New York's main contract, West Texas Intermediate for January delivery, was up seven cents at $97.57 in afternoon trade while Brent North Sea crude for January rose 23 cents to $108.90.
Gold fetched $1,225.78 at 0830 GMT compared with $1,242.75 late Thursday.
In other markets:
— Taipei rose 0.19 percent, or 15.61 points, to 8,376.94.
Taiwan Semiconductor Manufacturing Co. fell 0.49 percent to Tw$102.5 while smartphone maker HTC rose 1.75 percent to Tw$145.5.
— Wellington also added 0.19 percent, or 8.86 points, to 4,717.06.
Fletcher Building was up 0.46 percent at NZ$8.77 and Chorus lifted 7.30 percent to NZ$1.47 but Hallenstein Glassons fell 6.5 percent to NZ$3.46.
— Manila was flat, edging up 4.60 points to 5,767.13.
Philippine Long Distance Telephone rose 0.54 percent to 2,624 pesos, Alliance Global was up 2.70 percent at 22.85 pesos and SM Investments climbed 1.29 percent to 704 pesos.
With attention now fully on the US central bank's policy meeting, each release pointing to a strengthening economy is being pounced on as another step towards a wind-down of the bond-buying scheme.
Tokyo jumped 0.40 percent as the yen tumbled, with the Nikkei adding 61.29 points to 15,403.1, while Sydney rose 0.71 percent, or 35.9 points, to end at 5,098.4. But Seoul eased 0.26 percent, or 5.02 points, to close at 1,962.91.
Hong Kong added 0.12 percent, or 27.84 points, to end at 23,245.96 while Shanghai finished 0.31 percent lower, giving up 6.72 points to 2,196.08.
Global equities have seen a broad sell-off over the past four days after positive economic numbers — including falling unemployment and strong economic growth figures — have strengthened the argument for a December cut to the Fed's $85 billion a month asset-purchasing.
Those expectations were reinforced on Thursday after the government said retail sales grew 0.7 percent in November, above the forecast 0.6 percent and pointing to building confidence among US shoppers, a key driver of economic growth.
"The conclusion must be that it is increasingly likely the much debated Fed taper begins next week," National Australia Bank said.
The likelihood of a stimulus cut hit Wall Street, where the the Dow fell 0.66 percent, the SandP 500 declined 0.38 percent and the Nasdaq shed 0.14 percent, marking a third straight loss.
"Investors continue to fret over the Federal Reserve's policy meeting," Chibagin Asset Management general manager for research Yoshihiro Okumura told Dow Jones Newswires. "Until the Fed's decision is made weak market sentiment will continue to persist."
But Naoki Fujiwara, fund manager at Shinkin Asset Management, said traders' fears about a slowdown in Fed easing were misplaced. "The market is overreacting. Tapering itself is not a bad thing, as the US economy has shown improvements.
"Besides, the start of tapering would not mean the end of monetary easing," he said.
Yen faces downward pressure
With the prospect of less cash being printed by the Fed — in turn leading to a pick-up in demand — the dollar climbed towards highs not seen since October 2008.
It peaked at 103.92 yen in Tokyo trade while the euro touched 142.82 yen — both highs not seen since October 2008. However, they eased a tad in the afternoon, with the dollar at 103.60 yen and the euro at 142.59 yen.
The Japanese unit has also been pressured by a growing sense that the Bank of Japan will add to its own monetary easing scheme after a marked slowdown in the country's third-quarter economic growth.
Dealers said the BoJ's Tankan business confidence survey due Monday will give a better idea of plans for its stimulus, which it put into effect in April.
"Investors will be looking for a cue to sell the yen stemming from the BoJ's additional easing," said Citigroup Global Market Japan chief forex strategist Osamu Takashima.
The yen has lost about a quarter of its value against the dollar since late last year when, as leader of the opposition Shinzo Abe, who is now prime minister, promised a policy blitz to stoke the economy.
The euro was also at $1.3765 against $1.3752.
The Australian dollar sank to a three-and-a-half-month low of 89.22 US cents after the head of the country's central bank said he wanted to see it at 85 to help stimulate trade-exposed sectors of the economy.
Glenn Stevens also told the Australian Financial Review he expected the Fed to scale back its stimulus "before too much longer".
On oil markets New York's main contract, West Texas Intermediate for January delivery, was up seven cents at $97.57 in afternoon trade while Brent North Sea crude for January rose 23 cents to $108.90.
Gold fetched $1,225.78 at 0830 GMT compared with $1,242.75 late Thursday.
In other markets:
— Taipei rose 0.19 percent, or 15.61 points, to 8,376.94.
Taiwan Semiconductor Manufacturing Co. fell 0.49 percent to Tw$102.5 while smartphone maker HTC rose 1.75 percent to Tw$145.5.
— Wellington also added 0.19 percent, or 8.86 points, to 4,717.06.
Fletcher Building was up 0.46 percent at NZ$8.77 and Chorus lifted 7.30 percent to NZ$1.47 but Hallenstein Glassons fell 6.5 percent to NZ$3.46.
— Manila was flat, edging up 4.60 points to 5,767.13.
Philippine Long Distance Telephone rose 0.54 percent to 2,624 pesos, Alliance Global was up 2.70 percent at 22.85 pesos and SM Investments climbed 1.29 percent to 704 pesos.
M'sia's liberalised services sector attracting Japanese
TOKYO: The move by the Malaysian Government to liberalise the services sector is expected to attract high interest from Japanese companies to invest in that sector, Prime Minister Datuk Seri Najib Tun Razak said here today.
He said they are also keen to invest in the computer and related sectors, business services, healthcare and social services, transport, rental and leasing, tourism and sports and recreational activities.
He said the government's move to liberalise the automotive sector under the New Automotive Policy would also provide opportunities to Japanese companies to develop the electric vehicle and hybrid industry and woo interest of Japanese automotive companies to invest in the industry.
Last year, the government approved Japanese investments totalling US$912.27 million whilst the cumulative investments between January and September this year was US$736 million.
"Sectors that received latest approvals include projects that involved companies like Honda and Daihatsu," he said.
Najib said 87 Japanese companies were given approval for regional establishment status from 2006 till June 2013 to establish international procurement centre, regional distribution centre and operational headquarters.
He said Japanese companies major investments in Malaysia are in electrical and electronics, chemical and chemical products, non-metallic mineral products, basic metallic, petroleum products and chemical petroleum.
The prime minister said Toshiba Corporation will continue its partnership with 1Malaysia Development Bhd (1MDB) to introduce carbon ion treatment system for cancer treatment.
In July this year, during the Japanese Prime Minister's visit to Malaysia, Toshiba Corporation and 1MDB signed a memorandum of understanding (MoU) to explore the introduction of Toshiba's carbon ion radiotherapy system in Malaysia.
Najib said the IMDB must find a partner, who has the expertise in healthcare, to work with Toshiba Corp to implement the MoU.
On the MoU between Perbadanan PR1MA Malaysia (PR1MA) and Sekisui Chemical Co Ltd (Sekisui) to conduct a study to build a new manufacturing plant specially to develop advanced pre-fabricated modular houses in Malaysia, Najib said initial assessment showed the concept was viable in Malaysia.
"They're finalising the detailed business plan," he said.
The prime minister said that if the bulk of the building materials for the houses was brought in from Japan, the cost of the houses would escalate.
"But if the building materials are sourced locally, the house price will reduce further," he said.
On Oct 17, Perbadanan PR1MA Malaysia (PR1MA) signed a MoU to establish a joint venture with Sekisui, the biggest house builder in Japan, to conduct a study to build a manufacturing plant specially to develop advanced pre-fabricated modular houses in Malaysia.
The technology to build pre-fabricated modular houses has never been used in Malaysia
He said they are also keen to invest in the computer and related sectors, business services, healthcare and social services, transport, rental and leasing, tourism and sports and recreational activities.
He said the government's move to liberalise the automotive sector under the New Automotive Policy would also provide opportunities to Japanese companies to develop the electric vehicle and hybrid industry and woo interest of Japanese automotive companies to invest in the industry.
Last year, the government approved Japanese investments totalling US$912.27 million whilst the cumulative investments between January and September this year was US$736 million.
"Sectors that received latest approvals include projects that involved companies like Honda and Daihatsu," he said.
Najib said 87 Japanese companies were given approval for regional establishment status from 2006 till June 2013 to establish international procurement centre, regional distribution centre and operational headquarters.
He said Japanese companies major investments in Malaysia are in electrical and electronics, chemical and chemical products, non-metallic mineral products, basic metallic, petroleum products and chemical petroleum.
The prime minister said Toshiba Corporation will continue its partnership with 1Malaysia Development Bhd (1MDB) to introduce carbon ion treatment system for cancer treatment.
In July this year, during the Japanese Prime Minister's visit to Malaysia, Toshiba Corporation and 1MDB signed a memorandum of understanding (MoU) to explore the introduction of Toshiba's carbon ion radiotherapy system in Malaysia.
Najib said the IMDB must find a partner, who has the expertise in healthcare, to work with Toshiba Corp to implement the MoU.
On the MoU between Perbadanan PR1MA Malaysia (PR1MA) and Sekisui Chemical Co Ltd (Sekisui) to conduct a study to build a new manufacturing plant specially to develop advanced pre-fabricated modular houses in Malaysia, Najib said initial assessment showed the concept was viable in Malaysia.
"They're finalising the detailed business plan," he said.
The prime minister said that if the bulk of the building materials for the houses was brought in from Japan, the cost of the houses would escalate.
"But if the building materials are sourced locally, the house price will reduce further," he said.
On Oct 17, Perbadanan PR1MA Malaysia (PR1MA) signed a MoU to establish a joint venture with Sekisui, the biggest house builder in Japan, to conduct a study to build a manufacturing plant specially to develop advanced pre-fabricated modular houses in Malaysia.
The technology to build pre-fabricated modular houses has never been used in Malaysia
M'sia has implemented 88pc of AEC integration measures
TOKYO: Malaysia has implemented 88 per cent of the measures needed for Asean's regional integration, with the goal being the Asean Economic Community (AEC) by 2015, said Prime Minister Datuk Seri Najib Tun Razak.
He said, overall Asean's 10 member states had implemented 80 per cent of the measures needed for the integration.
"We are making good progress towards the AEC," he said in his keynote address at the opening of the 32nd Conference of the Malaysia-Japan Economic Association (Majeca) and Japan-Malaysia Economic Association (Jameca) joint conferance at Imperial Hotel, here, today.
Najib, who arrived here yesterday morning, is on a working visit in conjunction with the 40th Asean-Japan Commemorative Summit tomorrow.
The AEC envisages, among others, a single market and production base, a highly competitive economic region, a region of equitable economic development, and a region fully integrated into the global economy
He said, overall Asean's 10 member states had implemented 80 per cent of the measures needed for the integration.
"We are making good progress towards the AEC," he said in his keynote address at the opening of the 32nd Conference of the Malaysia-Japan Economic Association (Majeca) and Japan-Malaysia Economic Association (Jameca) joint conferance at Imperial Hotel, here, today.
Najib, who arrived here yesterday morning, is on a working visit in conjunction with the 40th Asean-Japan Commemorative Summit tomorrow.
The AEC envisages, among others, a single market and production base, a highly competitive economic region, a region of equitable economic development, and a region fully integrated into the global economy
Iran-China annual trade to hit US$38b
TEHRAN: Annual trade between Iran and China could reach US$38 billion by the end of the current Iranian calendar year ending March 20, 2014, said Iran-China Joint Chamber of Commerce chairman Asadollah Asgaroladi.
Bilateral trade stood at US$$27.5 billion in the first eight months of the current year (ending Nov 21), Iran's Mehr News Agency (MNA) reports Asgaroladi as saying this week.
The republic's non-oil exports to China exceeded US$4.5 billion in the first half of the current Iranian calendar year, and are expected to reach US$9 billion by year end.
Data from the Customs Administration Office shows Iran's trade balance with 96 countries was positive in the first eight months of 2013.
Asgaroladi said the development of the country's non-oil exports, expansion of joint ventures and enhancement of banking cooperation through purchasing shares in Chinese banks are the chamber's main objectives.
Bilateral trade stood at US$$27.5 billion in the first eight months of the current year (ending Nov 21), Iran's Mehr News Agency (MNA) reports Asgaroladi as saying this week.
The republic's non-oil exports to China exceeded US$4.5 billion in the first half of the current Iranian calendar year, and are expected to reach US$9 billion by year end.
Data from the Customs Administration Office shows Iran's trade balance with 96 countries was positive in the first eight months of 2013.
Asgaroladi said the development of the country's non-oil exports, expansion of joint ventures and enhancement of banking cooperation through purchasing shares in Chinese banks are the chamber's main objectives.
New discoveries for Petronas in M'sia, Indonesia
KUALA LUMPUR: PETRONAS has announced that it has made new hydrocarbon discoveries from its exploration activities in Malaysia and Indonesia.
In Malaysia, gas has been discovered via the Sintok-1 well in the offshore Block SK320, about 240km northwest of Bintulu, Sarawak.
Block operator Mubadala Petroleum drilled the well to a total depth of 2,775 metres and discovered gas in the main target reservoir. Well data indicates Sintok-1 to have a gas column of 292 metres, and the operator is carrying out further evaluation to assess the volume of the discovery.
Sintok-1 well is the third gas discovery in Block SK320 for the joint venture partners since the award of the block by PETRONAS in February 2010. The well is also the second discovery in the block for this year after Pegaga-1. PETRONAS' subsidiary, PETRONAS Carigali Sdn Bhd, has a 25% equity in the Production Sharing Contract (PSC).
In Indonesia, PETRONAS Carigali Ketapang Ltd, the operator for the Ketapang PSC offshore East Java, is drilling the Bukit Tua South-2 appraisal well to assess the Bukit Tua South-1 oil discovery made in 2012.
The Bukit Tua-2 appraisal well reached its total depth of 2,176 metres early last month and penetrated the CD and Kujung carbonate reservoirs.
A drill-stem test (DST) carried out for the CD carbonate interval recorded a flow rate of 1,656 barrels of oil per day at two-inch choke size. Another DST will also be carried out for the shallower Kujung reservoir. Evaluation to determine the extent of the Bukit Tua South field is on-going.
The success of the Bukit Tua South-2 appraisal well will contribute additional oil resources to the Ketapang PSC for further development opportunities. The production from the Bukit Tua oil field is expected to commence by end 2014.
SKK Migas, the government authority managing the activities of Production Sharing Contractors in Indonesia, has been supportive of the joint venture's exploration efforts in the block.
PETRONAS holds 80% equity in the Ketapang PSC while its JV partner PT Saka Ketapang Perdana, a wholly-owned subsidiary of PT Saka Energi Indonesia, holds the remaining 20% interest. Overall, PETRONAS is present in seven PSCs in Indonesia and is the operator for three of the ventures
In Malaysia, gas has been discovered via the Sintok-1 well in the offshore Block SK320, about 240km northwest of Bintulu, Sarawak.
Block operator Mubadala Petroleum drilled the well to a total depth of 2,775 metres and discovered gas in the main target reservoir. Well data indicates Sintok-1 to have a gas column of 292 metres, and the operator is carrying out further evaluation to assess the volume of the discovery.
Sintok-1 well is the third gas discovery in Block SK320 for the joint venture partners since the award of the block by PETRONAS in February 2010. The well is also the second discovery in the block for this year after Pegaga-1. PETRONAS' subsidiary, PETRONAS Carigali Sdn Bhd, has a 25% equity in the Production Sharing Contract (PSC).
In Indonesia, PETRONAS Carigali Ketapang Ltd, the operator for the Ketapang PSC offshore East Java, is drilling the Bukit Tua South-2 appraisal well to assess the Bukit Tua South-1 oil discovery made in 2012.
The Bukit Tua-2 appraisal well reached its total depth of 2,176 metres early last month and penetrated the CD and Kujung carbonate reservoirs.
A drill-stem test (DST) carried out for the CD carbonate interval recorded a flow rate of 1,656 barrels of oil per day at two-inch choke size. Another DST will also be carried out for the shallower Kujung reservoir. Evaluation to determine the extent of the Bukit Tua South field is on-going.
The success of the Bukit Tua South-2 appraisal well will contribute additional oil resources to the Ketapang PSC for further development opportunities. The production from the Bukit Tua oil field is expected to commence by end 2014.
SKK Migas, the government authority managing the activities of Production Sharing Contractors in Indonesia, has been supportive of the joint venture's exploration efforts in the block.
PETRONAS holds 80% equity in the Ketapang PSC while its JV partner PT Saka Ketapang Perdana, a wholly-owned subsidiary of PT Saka Energi Indonesia, holds the remaining 20% interest. Overall, PETRONAS is present in seven PSCs in Indonesia and is the operator for three of the ventures
Asian airlines to see mid- to long-term growth
GENEVA: Asian airlines are likely to see positive growth in the medium to long-term amid growth of the emerging middle class, development in big cities and increasing trade flows.
International Air Transport Association (IATA) chief economist Brian Pearce said the growing economy in Asia is a good opportunity for the development of airlines in the region.
"The outlook over the next 10 years is good for the industry and cargo but we need to overcome the difficulties in trade.
"We are also seeing lower capacity in passenger market due to weak business travellers on long haul market, which are associated with world trade. Many airlines are facing declining yields in the region, but it could be a temporary problem," he told Bernama at the IATA Global Media Day 2013, here today.
Pearce said the airlines are facing temporary difficulties due to weak trade which affected premium travel growth and air cargo demand.
According to IATA, the growth of air travel and air cargo was closely linked to the expansion of international trade than the gross domestic product (GDP).
It said production was being on-shored partly because of rising trade barriers since the recession, which could potentially be resisted or reversed, and also partly due to a market-driven slowdown.
Pearce said trade and air cargo business were affected with countries raising non-tariff trade barriers as they try to keep production at home to protect own jobs.
"IATA hopes the Bali trade deal will help to turn this situation around. Asia is the manufacturing centre of the world and trade is important for economic development, so we need to see trade facilitation measures to get it moving again," he said.
Furthermore, Pearce said the Asean free trade, which is likely in 2015, should give a positive boost to airlines in Asia as more trades would be generated as countries lowered their trade barriers
International Air Transport Association (IATA) chief economist Brian Pearce said the growing economy in Asia is a good opportunity for the development of airlines in the region.
"The outlook over the next 10 years is good for the industry and cargo but we need to overcome the difficulties in trade.
"We are also seeing lower capacity in passenger market due to weak business travellers on long haul market, which are associated with world trade. Many airlines are facing declining yields in the region, but it could be a temporary problem," he told Bernama at the IATA Global Media Day 2013, here today.
Pearce said the airlines are facing temporary difficulties due to weak trade which affected premium travel growth and air cargo demand.
According to IATA, the growth of air travel and air cargo was closely linked to the expansion of international trade than the gross domestic product (GDP).
It said production was being on-shored partly because of rising trade barriers since the recession, which could potentially be resisted or reversed, and also partly due to a market-driven slowdown.
Pearce said trade and air cargo business were affected with countries raising non-tariff trade barriers as they try to keep production at home to protect own jobs.
"IATA hopes the Bali trade deal will help to turn this situation around. Asia is the manufacturing centre of the world and trade is important for economic development, so we need to see trade facilitation measures to get it moving again," he said.
Furthermore, Pearce said the Asean free trade, which is likely in 2015, should give a positive boost to airlines in Asia as more trades would be generated as countries lowered their trade barriers
Petronas discovers oil deposits in Msia,Indonesia
KUALA LUMPUR: Petronas has discovered new hydrocarbon deposits from its explorations in Malaysia and Indonesia.
The national oil corporation said gas has been found via the Sintok-1 well in the offshore Block SK320, about 240Km north-west of Bintulu, Sarawak.
"Block operator Mubadala Petroleum drilled the well to a total depth of 2,775 metres and discovered gas in the main target reservoir. Data indicates the well to have a gas column of 292 metres," said Petronas in a statement.
Petronas said the Sintok-1 well was the third gas discovery in Block SK320 for the joint-venture partners and it was also the second discovery in the block for this year after Pegaga-1.
Petronas' subsidiary, Petronas Carigali Sdn Bhd, has a 25 per cent equity in the production-sharing contract (PSC).
Meanwhile, Petronas Carigali Ketapang Ltd, which has been drilling the Bukit Tua South-2 appraisal well at offshore East Java, Indonesia, discovered its total depth of 2,176 metres early last month.
"A drill-stem test (DST) conducted recorded a flow rate of 1,656 barrels of oil per day at two-inch choke size and another DST will also be carried out for the shallower Kujung reservoir," it said.
Petronas holds 80 per cent equity in the Ketapang PSC while its joint-venture partner, PT Saka Ketapang Perdana, a wholly-owned subsidiary of PT Saka Energi Indonesia, holds the remaining 20 per cent interest.
Overall, the national oil company is present in seven PSCs in Indonesia and is the operator for three of the ventures.
The national oil corporation said gas has been found via the Sintok-1 well in the offshore Block SK320, about 240Km north-west of Bintulu, Sarawak.
"Block operator Mubadala Petroleum drilled the well to a total depth of 2,775 metres and discovered gas in the main target reservoir. Data indicates the well to have a gas column of 292 metres," said Petronas in a statement.
Petronas said the Sintok-1 well was the third gas discovery in Block SK320 for the joint-venture partners and it was also the second discovery in the block for this year after Pegaga-1.
Petronas' subsidiary, Petronas Carigali Sdn Bhd, has a 25 per cent equity in the production-sharing contract (PSC).
Meanwhile, Petronas Carigali Ketapang Ltd, which has been drilling the Bukit Tua South-2 appraisal well at offshore East Java, Indonesia, discovered its total depth of 2,176 metres early last month.
"A drill-stem test (DST) conducted recorded a flow rate of 1,656 barrels of oil per day at two-inch choke size and another DST will also be carried out for the shallower Kujung reservoir," it said.
Petronas holds 80 per cent equity in the Ketapang PSC while its joint-venture partner, PT Saka Ketapang Perdana, a wholly-owned subsidiary of PT Saka Energi Indonesia, holds the remaining 20 per cent interest.
Overall, the national oil company is present in seven PSCs in Indonesia and is the operator for three of the ventures.
TM to gain RM400m to RM600m in lease fees
KUALA LUMPUR: Telecommunications giant, Telekom Malaysia Bhd, will gain between RM400 million and RM600 million in lease fee over the next 10 to 15 years from the TM Next-Gen Backhaul Services agreement signed with Celcom Axiata Bhd and DiGi Telecommunications Sdn Bhd
Call for more M'sia-Turkey bilateral investments, trade
ISTANBUL: Malaysian Ambassador to Turkey Datuk Saipul Anuar Abd Muin has expressed hope that the economic ties between Malaysia and Turkey would result in more bilateral investment and trade.
"Malaysia always offers opportunities for Turkish investors and businesses while opportunities are always open to Malaysian investors in Turkey," he told Bernama here today.
Saipul Anuar was met when meeting a delegation of 30 students and several officials from Universiti Malaysia Perlis (UniMAP) on a five-day educational visit to Turkey.
Trade between the two countries stands at US$1 billion with the balance in Malaysia's favour. Malaysian investments include Khazanah Nasional Bhd's US$700 million investment in Turkey's largest healthcare provider Acibadem Saglic Yagtirimlari Holdings AS (ASYH).
Saipul Anuar said while Malaysia hosts 300 Turkish students, only 20 Malaysians are studying in Turkey, although this number could rise if more Malaysians learnt Turkish.
Also present was Malaysian honorary consul Datuk Cevdet Sefer.
The delegation has visited several Turkish universities, where they met student leaders, as well as museums and mosques.
Since 2005, the annual UniMAP programme has been held in Indonesia, Vietnam, China, Hong Kong, Uzbekistan, Australia and New Zealand.
"Malaysia always offers opportunities for Turkish investors and businesses while opportunities are always open to Malaysian investors in Turkey," he told Bernama here today.
Saipul Anuar was met when meeting a delegation of 30 students and several officials from Universiti Malaysia Perlis (UniMAP) on a five-day educational visit to Turkey.
Trade between the two countries stands at US$1 billion with the balance in Malaysia's favour. Malaysian investments include Khazanah Nasional Bhd's US$700 million investment in Turkey's largest healthcare provider Acibadem Saglic Yagtirimlari Holdings AS (ASYH).
Saipul Anuar said while Malaysia hosts 300 Turkish students, only 20 Malaysians are studying in Turkey, although this number could rise if more Malaysians learnt Turkish.
Also present was Malaysian honorary consul Datuk Cevdet Sefer.
The delegation has visited several Turkish universities, where they met student leaders, as well as museums and mosques.
Since 2005, the annual UniMAP programme has been held in Indonesia, Vietnam, China, Hong Kong, Uzbekistan, Australia and New Zealand.
China's palm oil imports rising to 8-month high
BEIJING: Palm oil imports by China, the second-biggest buyer, may increase to the highest since April this month as consumption gains before a traditional holiday, according to a Bloomberg News survey.
Purchases may be about 550,000 metric tons in December after 500,000 tons in November, the median of five estimates from researchers and traders in China surveyed this week shows.
Rising demand from China may add support to futures traded in Malaysia, a global benchmark, which are up 21 percent from this year's closing low in July. The Lunar New Year festival starting on Jan. 31 can boost demand for vegetable oil by food processors and packagers, who mix palm oil with other cooking oils, according to the survey.
"Consumption of palm oil has been good going into the year end," Tian Lei, an analyst at Bric Global Agricultural Consultants Ltd., said by phone from Guangzhou yesterday. "We foresee stable demand next year."
China's imports in the year that started on Oct. 1 may be the same level as a year earlier at 6.35 million tons, four of the respondents said, while one forecast a drop. Domestic inventory may increase "slightly" from 900,000 tons now, according to the survey.
Output in Indonesia, the world's biggest supplier, will slide 1.9 percent to 26.5 million tons this year, dropping for the first time since 1998 after heavy rains and drought, another Bloomberg survey showed.
Global production may exceed demand by the most ever in the year that began Oct. 1 as output surges to a record 58.3 million tons, according to the U.S. Department of Agriculture.
Palm oil for delivery in January on Bursa Malaysia Derivatives yesterday closed 0.7 percent lower at 2,613 ringgit ($807) in Kuala Lumpur. Futures will average 2,800 ringgit a ton next year, Deutsche Bank AG estimates
Purchases may be about 550,000 metric tons in December after 500,000 tons in November, the median of five estimates from researchers and traders in China surveyed this week shows.
Rising demand from China may add support to futures traded in Malaysia, a global benchmark, which are up 21 percent from this year's closing low in July. The Lunar New Year festival starting on Jan. 31 can boost demand for vegetable oil by food processors and packagers, who mix palm oil with other cooking oils, according to the survey.
"Consumption of palm oil has been good going into the year end," Tian Lei, an analyst at Bric Global Agricultural Consultants Ltd., said by phone from Guangzhou yesterday. "We foresee stable demand next year."
China's imports in the year that started on Oct. 1 may be the same level as a year earlier at 6.35 million tons, four of the respondents said, while one forecast a drop. Domestic inventory may increase "slightly" from 900,000 tons now, according to the survey.
Output in Indonesia, the world's biggest supplier, will slide 1.9 percent to 26.5 million tons this year, dropping for the first time since 1998 after heavy rains and drought, another Bloomberg survey showed.
Global production may exceed demand by the most ever in the year that began Oct. 1 as output surges to a record 58.3 million tons, according to the U.S. Department of Agriculture.
Palm oil for delivery in January on Bursa Malaysia Derivatives yesterday closed 0.7 percent lower at 2,613 ringgit ($807) in Kuala Lumpur. Futures will average 2,800 ringgit a ton next year, Deutsche Bank AG estimates
Shares on Bursa slightly higher mid-morning
KUALA LUMPUR: Shares on Bursa Malaysia rebounded from earlier losses to stage a slightly higher performance at mid-morning today, helped by gains in plantation-related counters, dealers said.
As at 11.04 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.17 points to 1,841.04, after fluctuating between 1,831.1 and 1,842.2.
The key index, which opened lower this morning, rose after 20 minutes into trading with buying interest seen in plantation stocks like Genting Plantation, KLK and PPB Group
As at 11.04 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.17 points to 1,841.04, after fluctuating between 1,831.1 and 1,842.2.
The key index, which opened lower this morning, rose after 20 minutes into trading with buying interest seen in plantation stocks like Genting Plantation, KLK and PPB Group
China to widen OTC exchange access by year-end
SHANGHAI: China could expand access to its primary over-the-counter (OTC) exchange as soon as Dec. 25, domestic media reported, as regulators try to provide more funding alternatives for smaller companies that produce the bulk of the country's GDP and jobs.
The official China Securities Journal quoted industry insiders saying that regulators will soon allow any "qualified" firm in the country to list on the central OTC market. Access was previously restricted to companies headquartered in select major cities.
The government also plans to implement a registration-based system for firms listing on the OTC, the report said, similar to a reform planned for initial public offerings (IPOs) on main boards.
That means that where once companies had to seek permission from the China Securities Regulatory Commission (CSRC) to list, in the future they will need only register, and the market will determine the timing and pricing of the issue -- similar to the way IPOS are regulated in developed economies.
The China Securities Journal said plans would be announced "in the near future," while China Financial Information, a respected online finance newspaper, published a similar report quoting unnamed insiders saying the plans were expected to be published on Dec. 25.
The move to ease access to the OTC market, which focuses on facilitating private placements in smaller Chinese firms, follows announcements that regulators will allow China's IPO market to re-start in early 2014.
IPOs have been frozen since late 2012, which regulators said was intended to give time to re-examine the financial conditions of the 800-plus firms in the queue. The move was widely considered an attempt to prop up investor sentiment, as the flood of IPOs was seen to be negative for share prices.
Beijing has been consistently trying to expand access to credit for small- and medium-sized enterprises (SMEs), which are usually too small to list but at the same time are too risky for Chinese banks to finance.
But analysts say initiatives such as OTC exchanges and high-yield bonds designed for use by smaller companies have so far been hamstrung by regulatory restrictions and lack of investor interest, while efforts to force banks to lend to SMEs have mostly backfired.
China's primary OTC market was originally launched in Beijing in 2006, with around 200 firms trading on the platform. Other Chinese cities have since announced plans to create local platforms
The official China Securities Journal quoted industry insiders saying that regulators will soon allow any "qualified" firm in the country to list on the central OTC market. Access was previously restricted to companies headquartered in select major cities.
The government also plans to implement a registration-based system for firms listing on the OTC, the report said, similar to a reform planned for initial public offerings (IPOs) on main boards.
That means that where once companies had to seek permission from the China Securities Regulatory Commission (CSRC) to list, in the future they will need only register, and the market will determine the timing and pricing of the issue -- similar to the way IPOS are regulated in developed economies.
The China Securities Journal said plans would be announced "in the near future," while China Financial Information, a respected online finance newspaper, published a similar report quoting unnamed insiders saying the plans were expected to be published on Dec. 25.
The move to ease access to the OTC market, which focuses on facilitating private placements in smaller Chinese firms, follows announcements that regulators will allow China's IPO market to re-start in early 2014.
IPOs have been frozen since late 2012, which regulators said was intended to give time to re-examine the financial conditions of the 800-plus firms in the queue. The move was widely considered an attempt to prop up investor sentiment, as the flood of IPOs was seen to be negative for share prices.
Beijing has been consistently trying to expand access to credit for small- and medium-sized enterprises (SMEs), which are usually too small to list but at the same time are too risky for Chinese banks to finance.
But analysts say initiatives such as OTC exchanges and high-yield bonds designed for use by smaller companies have so far been hamstrung by regulatory restrictions and lack of investor interest, while efforts to force banks to lend to SMEs have mostly backfired.
China's primary OTC market was originally launched in Beijing in 2006, with around 200 firms trading on the platform. Other Chinese cities have since announced plans to create local platforms
Oil mixed in Asia on oversupply
SINGAPORE: Oil prices were mixed in Asian trade Friday as dealers worried about a global oversupply in crude, while speculation the US Federal Reserve will soon scale back its stimulus programme also weighed.
New York's main contract, West Texas Intermediate (WTI) for January delivery, was down one cent at $97.49 in mid-morning trade while Brent North Sea crude for January rose four cents to $108.71.
"Investors are not only concerned about an oversupply in the US from shale oil, but also from OPEC member countries like Iraq who have pledged to increase supply even if prices fall significantly," Kelly Teoh, market strategist at IG Markets in Singapore, told AFP.
The Organisation of Petroleum Exporting Countries (OPEC) earlier this month agreed to keep its production ceiling unchanged at 30 million barrels a day.
However, pledges by its members Iraq and Iran to boost output in 2014 have raised concerns about a potential glut, as US shale oil output continues to increase.
The focus on oversupply has also been exacerbated after a tribal chief in Libya said a months-long blockade by armed protesters of vital oil terminals would be lifted on December 15.
The protests as well as blockades of fuel deliveries by the Berber minority have slashed Libya's output to about 250,000 barrels per day from normal levels of nearly 1.5 million.
Prices were also under pressure as upbeat US economic data pointed towards a sustained recovery in the world's biggest economy and raised speculation the Fed will soon scale back its stimulus programme, Teoh said.
The oil market has been closely following the Fed's debate on when to wind its $85-billion-a-month stimulus down.
The onset of tapering will boost the greenback, making dollar-priced oil more expensive for countries using other currencies, dampening demand
New York's main contract, West Texas Intermediate (WTI) for January delivery, was down one cent at $97.49 in mid-morning trade while Brent North Sea crude for January rose four cents to $108.71.
"Investors are not only concerned about an oversupply in the US from shale oil, but also from OPEC member countries like Iraq who have pledged to increase supply even if prices fall significantly," Kelly Teoh, market strategist at IG Markets in Singapore, told AFP.
The Organisation of Petroleum Exporting Countries (OPEC) earlier this month agreed to keep its production ceiling unchanged at 30 million barrels a day.
However, pledges by its members Iraq and Iran to boost output in 2014 have raised concerns about a potential glut, as US shale oil output continues to increase.
The focus on oversupply has also been exacerbated after a tribal chief in Libya said a months-long blockade by armed protesters of vital oil terminals would be lifted on December 15.
The protests as well as blockades of fuel deliveries by the Berber minority have slashed Libya's output to about 250,000 barrels per day from normal levels of nearly 1.5 million.
Prices were also under pressure as upbeat US economic data pointed towards a sustained recovery in the world's biggest economy and raised speculation the Fed will soon scale back its stimulus programme, Teoh said.
The oil market has been closely following the Fed's debate on when to wind its $85-billion-a-month stimulus down.
The onset of tapering will boost the greenback, making dollar-priced oil more expensive for countries using other currencies, dampening demand
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