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Saham Turun, Minyak Naik dll
By Kapal Berita

29/9/2000 8:21 pm Fri

Umumnya kebanyakkan laman hari ini telah melapurkan kekecohan Akta yang sudah mansuh diguna pakai dalam kes al Maunah. Saya tidak berhasrat untuk mengulang atau mengupas nya disini. Saya ingin menekankan kes harga minyak yang mungkin menyebabkan inflasi menimpa negara tidak lama lagi serta iklim ekonomi yang semakin muram dan menjunam.

Berikut adalah ringkasan berita:


Seperti yg dilapurkan sebelumnya, kebimbangan terhadap beberapa perkara berita yang negatif menyebabkan saham jatuh:

  1. harga petrol yang mungkin naik
  2. perubahan sistem indeks MSCI akan menjadikan kedudukkan carta negara turun separuh.
  3. serta kata komen PM Mahdey mengenai cukai 10% levi
  4. Spekulasi masalah pengabungan bank-bank

Sebelum itu kita jangan lupa

  1. Mahdey mengkhianati perjanjian royalti. (Mat Salleh amat berpegang kepada ketepatan janji .. jadi kalau macam ni persepsi mereka terhadap negara semakin buruk lagi)
  2. Mahdey menuduh semua orang sesuka hati - baik pelabur luar, mahupun rakyat sendiri sebagai bodoh, tidak bersyukur, dll lagi
  3. Skandal Danaharta - Halim Saad - Hottick - NSC
  4. Rasuah menggila seperti Skandal Lesen Terbang. Sudah tentu ada skandal projek terbang dan projek tebang juga...
  5. BPR tidak cekap dan sengaja pekak. Hujah Datuk Shapei tidak diambil berat dan dipersiakan.
  6. Carta Ketelusan Antarabangsa - markah oleh malaysia sudah GAGAL.
  7. Rahim Nor belum di apa-apakan lagi.
  8. Petronas dan TNB menjadi hamba abdi....

Akhir sekali - berita bernama mengungkit RM 3.095 billion subsidi yang terpaksa ditanggung jika kerajaan tidak menaikkan harga minyak.

Sekali pandang angka 3 billion ini sama dengan angka skandal Halim Saad di Hottick..........


  1. Karpal minta 29 anggota al Maunah dibebaskan kerana undang2 ESCAR 1975 sudah mansuh oleh Majlis Privy 1978.

  2. Walaupun Tuduhan 121 Kanun Kesiksaan itu mungkin sah, Perbicaraan tidak sah.

  3. Pengistiharan Darurat 1969 memansuhkan kesemua undang2 darurat - termasuk ESCAR.

Bagi menyokong hujahnya itu, beliau merujuk kepada satu keputusan Majlis Privy berhubung rayuan kes yang dibicarakan di bawah Akta undang-undang Jenayah (Peruntukan Khas) 1962 yang mana seramai 11 tertuduh dihukum penjara 10 tahun manakala 13 lagi yang di bicarakan berhubung kegagalan rampasan kuasa di Sri Lanka (27 Jan 1962) telah dibebaskan daripada tuduhan.


Sanusi Junid didenda RM1,000 kerana mencederakan 2 kakitangan KLIA. Tapi beliau masih menjadi Presiden UIA.... masih tebal muka ke? s=asiafinance/news/000928/asian_markets/dowjones/ Malaysians_Grow_Anxious_Over_Imminent_Gas_Price_Hike.html

Thursday, September 28 3:39 PM SGT

Malaysians Grow Anxious Over Imminent Gas Price Hike

By Sean Yoong

KUALA LUMPUR (AP)--Malaysian housewives fretted over inflation and cab drivers predicted their incomes would plunge as the government moved closer Thursday to raising gasoline prices for the first time in nearly two decades.

Debate raged across petrol stations and coffee shops over how much increased prices would actually thin wallets that have swollen again in the country's rapid rebound from economic crisis three years ago.

The increased worry followed media reports that Prime Minister Mahathir Mohamad's Cabinet, in its weekly meeting Wednesday, discussed how much of a hike to impose. No firm decision was disclosed, but most experts predict an increase of 7%-9%.

Industry observers expect the government to implement new prices starting in late October, once Malaysia's 2001 budget is presented to Parliament.

Malaysia has kept pump prices of unleaded gasoline unchanged since 1983 at 1.10 ringgit ($1=MYR3.80) a liter. But despite being one of Asia's three oil exporters, Malaysia has felt compelled to raise domestic fuel prices amid the current global price shock.

Muhyiddin Yassin, minister for consumer affairs, in August announced the government's decision in principal to raise prices. On Wednesday, he told reporters that the prices would be disclosed "within the soonest possible period."

The impending hike may not immediately afflict the average Malaysian, but there are still many in this Southeast Asian nation who spend hundreds of ringgit on gasoline every month.

"We are only just surviving now. We can't afford higher prices," insisted Mohammad Ramli Ariffin, a taxi driver.

Analysts Say Authorities Must Brace For Consequences

Financial analysts warn that authorities must brace themselves for the consequences of their decision on consumer and producer prices.

"So far, inflation numbers remain subdued. But the government will not be able to absorb inflation forever," said Lee Heng Guie, chief economist with Kuala Lumpur-based HLG Research firm.

Several high-profile Malaysian companies already fear the pinch of escalating international fuel prices. Malaysian Airline System (P.MAS), the national carrier, spends nearly a quarter of its operating costs on fuel and could face trouble breaking even for the next three years, says Lee.

So far, Mahathir and other government officials have struggled to justify the price increase. Mahathir's ruling party won elections last year on promises of continued economic prosperity and progress.

Last week, the prime minister issued a stern warning to local manufacturers not to raise the price of their products in lockstep with the petrol price hike.

Financial Minister Daim Zainuddin insisted that the government should have reviewed gasoline prices "a long time ago." Authorities currently provide a subsidy of 46 sen per liter of unleaded petrol, without which Malaysians would pay MYR1.56 ringgit for each liter.

Some officials have started pointing fingers at Malaysia's neighbors to justify the price increase.

Muhyiddin, quoted by local media Thursday, claimed the government had lost about MYR400 million ringgit in fuel subsidies since April because people are smuggling diesel into Thailand, where the fuel costs nearly double.

Pro-government newspapers have begun splashing pictures of queues at Malaysian gasoline stations in northern and southern border states used by drivers from Thailand and Singapore every day.

Some 300 vehicles, mostly commercial trucks, are said to come from Thailand daily to refuel in Padang Besar, a border town with one petrol station. Hour-long waits to fill up infuriate Malaysian motorists. s=asiafinance/news/000928/asian_markets/dowjones/ Malaysian_Shares_Down_On_Recent_Spate_Of_Negative_News.html

Malaysian Shares Down On Recent Spate Of Negative News

KUALA LUMPUR (Dow Jones)--Shares on the Kuala Lumpur Stock Exchange finished lower Thursday as sentiment remains depressed by a recent spate of negative news.

Dealers said investors were concerned over a possible rise in petroleum products prices, potential changes to Morgan Stanley Capital International indexes. They are also worried by unfavorable remarks by Prime Minister Mahathir Mohamad on Malaysia's 10% exit tax and speculation of some problems in ongoing banking industry consolidation.

The Composite Index, which tracks 100 key stocks, ended at 720.85 points, down 7.61 points, or 1%.

Declines led advances 497 to 155, with 158 shares unchanged and 194 untraded.

Volume was thin at 88.2 million shares valued at 280.6 million ringgit ($1=MYR3.80).

Minister Of Domestic Trade And Industry Minister Muhyiddin Yassin Wednesday said the Malaysian Cabinet has discussed new petroleum products prices and Finance Minister Daim Zainuddin will make an announcement on the new prices soon.

Speculation is rife that Daim will announce increases late October when the federal government budget for 2001 is presented, with most analysts predicting rises between 7% and 9%.

Investors were also concerned about a potential change in the weighting methodology of MSCI indexes. Under the free-float based system MSCI is considering, Malaysia's weighting in the indexes would almost halve, dealers said.

Mahathir's Tuesday remarks that the exit tax on profit for foreign portfolio investment is "minimal" and "if people want to come in, they should pay us something" has been interpreted to mean that removal of the levy is unlikely soon.

The exit tax has been cited as one of the reasons why foreign funds don't want to buy local shares, dealers noted.

They also said many market participants expect the Composite Index to fall further to around 700-point levels in the coming week.

Among actives, Malaysia's largest banking group Malayan Banking Bhd. dropped 3.3%, or 50 sen, at MYR14.60. Maybank is one of the banks that contributed MYR3.1 billion in loans to Hottick Investment in a rescue package for National Steel Corp of Philippines. NSC shares are now worth practically nothing.

National utility company Tenaga Nasional Bhd. shed 10 sen at MYR11.60, while RHB Capital lost 4.6%, or 12 sen, at MYR2.51. RHB Capital Tuesday announced a major corporate restructuring.

In the futures market, the Composite Index futures for September closed at 723.50 points, down 8.3 points.

Item Thursday Previous Change
Composite Index 720.85 728.46 Dn 7.61
Emas Index 176.35 178.07 Dn 1.72
Second Board Index 173.19 174.60 Dn 1.41


KUALA LUMPUR, Sept 28 (Bernama) -- The government will have to pay subsidies amounting to RM3.095 billion this year if prices of petroleum products are maintained at their current levels.

In addition, the government stands to forego revenue in taxes on petroleum products amounting to RM4.598 billion if current prices were maintained, the National Economic Action Council (NEAC) said in a study put up on its website here today.

The study, which provides facts and figures on the petroleum subsidies, noted that due to increasing oil prices worldwide and which had now reached 10-year peaks at US$38 per barrel, the government had been paying subsidies for petroleum products since 1996.The subsidy only amounted to RM180 million in that year.

Subsequently, and in tandem with increasing oil prices, the government's subsidy increased to RM228 million in 1997, RM515 million in 1998 and RM1.146 billion in 1999.

For this year, the subsidy is expected to reach RM3.095 billion based on figures issued by the Ministry of Finance.

At the same time, tax revenue forgone because of increasing product costs has risen from RM1.164 billion in 1996 to RM1.727 billion (1997), RM2.121 billion (1998), RM2.676 billion (1999), and an expected RM4.598 billion (2000).

Touching on petrol, the study showed that while the retail price of petrol has been fixed at 110 sen/litre, the product cost has been increasing steadily since 1996.

The product cost of petrol has increased 31.52 sen/litre from 59.43 sen/litre in 1996 to the current price of 90.95 sen/litre.

Given the ever-decreasing profit margins, the government has not been able to levy the full tax on petrol, the study said.

While theoretically, the tax rate has been fixed at 58.02 sen/litre, the effective tax rate was 50.57 sen/litre in 1996, dropping to 46.05 sen/litre in 1997, 39.26 sen/litre (1998), 36.78 sen/litre (1999) and finally 19.92 sen/litre in 2000.

As a result, tax foregone for the period 1996-2000 totalled RM7.958 billion.

In 1996, it was at RM510 million, 1997 (RM869 million), 1998 (RM1,342 million), 1999 (RM1,905 million) and 2000 (RM3,331 million).

From September 2000 to December 2000, the government will have to pay a subsidy of 8.19 sen/litre every month.

This will amount to RM300 million in subsidy paid to maintain petrol prices at current levels.

As for diesel, its retail price has been controlled at 65.10 sen/litre. As with petrol, diesel product cost has increased 28.67 sen/litre from 54.02 sen/litre in 1996 to 82.68 sen/litre in 2000. While tax is theoretically set at 19.64 sen/litre, real tax levied was 11.09 sen/litre in 1996.

Subsequently, with oil prices on the rise, real tax decreased to 9.85 sen/litre in 1997 and further to 9.42 sen/litre (1998), 8.65 sen/litre (1999) and 0 sen/litre from 2000.

Revenue forgone as a result of lower taxes levied amounted to RM4.327 billion for the period 1996-2000.

In 1996, it was at RM653 million, 1997 (RM858 million), 1998 (778 million), 1999 (RM771 million) and 2000 (RM1,267 million).

The government has had to pay a subsidy on diesel from September 1999 at a rate of 5.28 sen/litre for the period September 1999 to December 1999. This subsidy increased to 23.47 sen/litre for the period January 2000 to December 2000.

For the period September 1999 to December 2000, a total amount of RM2.532 billion in subsidy was paid for diesel -- RM375 million in 1999 and RM2.162 billion in 2000 in order to maintain diesel at its controlled retail price.

As for liquefied petroleum gas (LPG), the government maintains a no tax policy for LPG to encourage its usage for cars and household needs (cooking gas). The retail price of LPG has been controlled at 118.00 sen/kg. However, the product price of LPG gas has also been rising steadily since 1996.

In 1996, the price of LPG stood at 141.82 sen/kg but this increased to 156.87 sen/kg in 1997, 180.07 sen/kg (1998), 190.99 sen/kg (1999) and finally to 199.78 sen/kg in 2000.

As a result, the average rate of subsidy paid on LPG has increased from 23.82 sen/litre in 1996 to 38.87 sen/litre (1997), 62.07 sen/litre (1998), 72.99 sen/litre (1999) and finally to 81.78 sen/litre in 2000.

The amount of subsidy paid totalled RM2.332 billion for the period 1996-2000.

In 1996, it amounted to RM180 million, 1997 (RM228 million), 1998 RM515 million), 1999 (RM776 million) and 2000 (RM633 million). -- BERNAMA

Source: s=asia/headlines/000928/asia/afp/

Cult gang charged under unconstitutional law, lawyer says

Thursday, September 28 5:57 PM SGT

Cult gang charged under unconstitutional law, lawyer says


A defence lawyer Thursday urged the judge in Malaysia's first treason trial to drop the case against 29 alleged Islamic cult members, saying they were charged under an unconstitutional law.

The 29 alleged members of the Islamic Brotherhood of Al-Ma'unah face hanging or life imprisonment if convicted of "waging war" against the king.

Karpal Singh told the High Court they are entitled to a discharge not amounting to an acquittal because the Essential (Security Cases) Regulations 1975 (ESCAR) under which they have been charged is invalid, null and void.

Karpal told Judge Zulkefli Ahmad Makinudin the law is unconstitutional because parliament did not pass the amendments which gave the king legal authority to declare a state of emergency some three decades ago.

"The king could not have legally promulgated the Proclamation of Emergency, thereby triggering off illegality of all emergency decrees he made thereafter including ESCAR," Karpal said.

The king proclaimed a state of emergency following a bloody racial riot in 1969.

Attorney General Mohtar Abdullah said the amendments were passed by parliament. Zulkefli adjourned the trial to Monday after ordering both the defence and prosecution to conduct a thorough check to support their arguments.

The shadowy martial arts cult shot into the limelight when its members were blamed for sparking a major security alert in July.

Some 15 members disguised as soldiers raided two military armouries in the northern state of Perak on July 2. They stole more than 100 weapons before joining a dozen others at a jungle hideout in the state.

After a four-day stand-off with some 2,000 police and troops, the 27 surrendered but two of their four hostages were found murdered. Another two alleged cult members were arrested later in separate states.

The trial allows for special provisions under ESCAR. Witnesses can choose not to disclose their identities and all statements are admissible. The defence must state its case and cannot submit there is no case to answer after the prosecution finishes.

The alleged cult members are represented by some 30 lawyers.

Mohtar, at the start of the trial, said the prosecution would show that the group tried to instigate an army revolt to overthrow the government.

He said some members allegedly tried to attack a power installation in Perak to cut off electricity. They also used grenade launchers to attack a brewery and a Hindu temple in Kuala Lumpur suburbs.

The attacks on the brewery and the caves caused no injuries and little damage.

Source: NST

Al-Ma'unah Trial: Dispute over Escar takes dramatic turn

By Ruslaini Abbas

KUALA LUMPUR, Thurs. _ Arguments on the validity of the Essential (Security Cases) Regulations 1975 took a dramatic turn in the High Court today when parties disagreed over a 1983 amendment to the Federal Constitution relating to the proclamation of emergency.

While Attorney-General Tan Sri Mohtar Abdullah said an amendment to Article 150 contained in the Constitution Amendment Act A566 stated that the Prime Minister had to be satisfied before any declaration of emergency, lawyer Karpal Singh argued that it should be the Yang di-Pertuan Agong who had to be satisfied, and not the Prime Minister.

Citing a book Governments and Crisis Powers by lawyer Dr Cyrus Das, Karpal said the proposed amendment to section 20 of Act A566, which substituted the words "Yang di-Pertuan Agong" to the words "Prime Minister" in Article 150, was eventually aborted.

Karpal said he was in Parliament when the amendment was proposed.

Karpal: Is the AG saying that it is now the Prime Minister who has to be satisfied instead of the Agong?

Mohtar: I am referring to Act A566.

Karpal: Is section 20 part of the Act?

Mohtar: I will have to check.

Karpal: As far as I am concerned, section 20 was aborted and it is serious to make the King sign something which is not law.

Mohtar said he was not privy to what happened in Parliament then and he had to verify the mat

At this juncture, judge Datuk Zulkefli Ahmad Makinudin told parties to look up the matter and return on Monday for further submissions.

The scenario came about when Mohtar was replying to Karpal's preliminary objection to the use of Escar in the trial of 29 Al-Ma'unah members who are charged with waging was against the Agong between June and July.

The trial is being conducted under Escar because it is a security case.

Karpal, who is representing cult leader Mohd Amin Mohd Razali, made his submissions yesterday and today.

He argued that Escar was invalid as there was no amendment to the section relating to appeal which stated that a decision made by the High Court could be appealed to the Federal Court, whereas there is now a three-tier system with the creation of the Court of Appeal.

Karpal also contended that Escar was invalid as it was made under the Emergency (Essential Powers) Act 1979 pursuant to the proclamation of emergency on May 15, 1969.

He said the 1969 proclamation was null and void as there was no Cabinet or a Minister to advise the Yang di-Pertuan Agong to make the proclamation since Dewan Rakyat was dissolved in March 1969 for the May 10, 1969 general election.

Mohtar in his submission on the right to appeal said such right was generally provided for in the Criminal Procedure Code or the Courts of Judicature Act.

"But these are statutes of general application, the operation of which can be excluded by specific statutes.

"Thus, if a statute does not provide for an appeal to the newly created Court of Appeal, like Escar 1975, then an appeal has to lie only to the Federal Court," he said.

On the proclamation of emergency, Mohtar said the Agong on his own may declare an emergency when necessary.

"It is imperative from the reading of clause 1 of Article 150 (of the Federal Constitution) that the Agong may issue a proclamation of emergency if he is satisfied that a grave emergency exists," he said.

Mohtar said by Act A566 the decision to make the declaration was transferred to the Prime Minister, who should advise the Agong, who in turn would make the declaration.

At this juncture, Karpal stood up and argued on the matter which led to the above scenario.
Hearing continues on Monday. Friday, September 29, 2000

Sanusi fined RM1,000 for causing hurt to two workers at KLIA

By Nelson Benjamin

SEPANG: Former Kedah Mentri Besar Tan Sri Sanusi Junid was yesterday fined RM1,000 by the magistrate's court here after he pleaded guilty to two charges of voluntarily causing hurt to two workers at the KL International Airport in May.

Magistrate Kamarul Baharin Omar fined Sanusi RM500 for each of the charge, in default one month's jail.

He was charged under Section 323 of the Penal Code for assaulting Shaiful Abdul Rahman, a KLIA customer service worker and Mohamed Nazri Ishak, a MAS worker, both 25, at aerobridge door A2 of the KLIA at 12.40am on May 5.

Sanusi, who mitigated for himself, explained that he had lost his temper when the health condition of an aunt (whom he was travelling with from Singapore on that day) worsened.

He said the medication that she was administered had worn off and she was in pain, adding that the two workers appeared to have taken their time to come to their aid.

Sanusi, 57, said that he was very close to his aunt and the delay in bringing over the wheelchair which he had requested had provoked his anger.

He said that three days after the incident his aunt passed away and before that, she had reminded him to settle the matter in the best way possible.

In the May incident, the two workers claimed that Sanusi had scolded and slapped them for being slow in bringing a wheelchair for an elderly aunt.

Sanusi paid the fine.