PROLOG

Sebelum ini anda mungkin membaca satu resolusi dari Kongres Amerika mengutuk cara Kerajaan Mahathir menangani kes DSAI. Terdapat banyak kepincangan dan serta wujudnya satu apa yang tidak enak disebut .... konspirasi tertinggi.

Mahathir kerapkali mengatakan kerajaan hebat dan pandai menguruskan ekonomi tanpa perlu tunduk kepada IMF. Sebenarnya Malaysia sentiasa berhutang, cuma juak-juak Mahathir sengaja mengeluarkan istilah bon kerana malu hendak menggunakan istilah hutang.

Satu waktu dulu Petronas mengeluarkan bon yang amat tinggi kadar premiumnya. Sudah tentu 'abang' Salomon & Barney memastikan ia dibeli kerana mereka memang pelobi. Syarikat ini begitu intim dengan Yahudi, seintim Mirzan yang pernah bergaya sewaktu 'berkhidmat' dengan mereka. Cuba lihat siapakah yang menguasai industri iklan dinegara ini? Malah iklan "pening kepala" sewaktu pilihanraya tempoh hari adalah satu 'masterpiece' mengiklan barang sehingga jenama dan wajah lawan pun tidak dihormati lagi. Tidak perlu memberi tanda X lagi. Inilah bahananya bila tatacara iklan dinodai sesuka hati. Mungkin kita perlu imbas peranan Saatchi dan Saatchi, juga syarikat Yahudi, yang diberi kontrek oleh tentunya orang yang memang suka teknik Yahudi. Lagipun menuduh orang dengan sod*mi adalah teknik dan ajaran diktator yahudi.

Terjemahan ringkas ala kadar sahaja:

RENCANA IHT: MALAYSIA TANGANI JUNAMAN DENGAN EUROS

KL - Tindakkan Malaysia meminjam dalam bentuk bon euros adalah satu perkara yang jarang dilakukan di Asia. Ia umpama si lapar yang mencari makanan untuk menghilangkan sakit perutnya yang semakin kronik dengan meminjam mengikut pintu lain.

Ini merupakan kali kedua satu kerajaan meminjam dalam euros, dan kali pertama sejak matawang Eropah ini mula menjunam - ia berada pada paras 84 sen $USD ketika ini.

Sebelum ini kebanyakkan kerajaan di Asia meminjam dalam bentuk Yen dan $USD.

Malaysia mungkin meniru gaya kerajaan Filipina. Filipina mengeluarkan bon euro pada Mac 1999, sebaik sahaja euro itu diperkenalkan. Tetapi Cina membatalkan hasratnya untuk menawarkan bon euro sebanyak 1 billion kerana syarat harga yang tidak disetujui.

Menurut pakar, adalah murah sedikit (1%) jika Malaysia meminjam dalam euro.

Walaupun Malaysia kelihatan memberi satu tanda sokongan kepada euro yang agak lemah ketika ini, nasibnya mungkin terbalik. Jika euro lemah, Malaysia untung, tetapi jika ia kuat kembali Malaysia alam rugi.

Kementerian Kewangan tidak memberi sebarang angka, tetapi menurut orang bank, Malaysia dijangka meminjam 500 juta euros.

ANAK SYARIKAT RENONG BERHUTANG DENGAN RM227.5 FAEDAH

KL (Dow Jones) - Menurut Renong Bhd, anak syarikatnya PUTRA telah berhutang dengan bunga RM227.5 juta dari hutang RM2 billion kesemuanya pada 30/10/2000.

Pada tahun 1999, bunganya berjumlah RM44.6 juta. (Sudah 4.5 kali ganda bertambah - penterjemah).

Menurut Renong ini berpunca dari pulangan yang terlalu rendah. Tunggakan ini dijangka akan menyebabkan tunggakan bayaran kepada dua pinjaman lain (yang kecil) juga yang berjumlah RM1.5 billion dan RM771.0 juta.

Walaupun begitu, Renong sedang berbincang dengan CDRC untuk menyusun semula pembayaran. Dikatakan kedua2 peminjam tersebut belum meminta bayaran lagi.... (Baiknya - penterjemah)

Dalam kenyataan berasingan Renong menafikan lapuran BT baru2 ini bahawa kerajaan akan mengeluarkan bon untuk membantu hutang Putra.

Menurut Renong lagi, perbincangan dengan CDRC masih berjalan..

http://www.iht.com/IHT/TODAY/WED/FIN/borrow.2.html

Paris, Wednesday, November 1, 2000

Malaysia to Take Plunge and Borrow Money in Euros

By Thomas Fuller International Herald Tribune

KUALA LUMPUR - Malaysia said Tuesday it was planning to borrow money in euros, a rare move in Asia that will be closely watched by other countries in a region hungry for capital.

If successful, Malaysia's bond issue would be only the second time that an Asian government borrowed money in euros, and the first time since the European currency began its dramatic decline - trading now at about 84 U.S. cents.

''This will get attention,'' said David Fernandez, head of emerging Asia economic research at J.P. Morgan in Singapore. ''It's the idea of introducing Malaysia to a whole different set of clients.''

Still recovering from the economic crisis of two years ago, many governments in Asia need to borrow money to fund budget shortfalls. Most borrow in dollars or yen.

The Philippines issued euro-denominated bonds in March 1999, soon after the euro was introduced. China canceled plans to issue bonds valued at 1 billion euros earlier this year when terms over pricing apparently fell through.

In Malaysia's case, analysts point out that it will be cheaper by about 1.8 percentage points to borrow money in euros than in dollars.

Although Kuala Lumpur's plans might be seen as a vote of confidence for the battered European currency, a quick calculation suggests it is exactly the opposite: If the euro continues to weaken against major currencies, the Malaysian government would benefit, paying less for every euro borrowed.

If the euro strengthens, on the other hand, Malaysia, whose currency is pegged to the dollar, could find the exercise costly.

Malaysia's Finance Ministry, which made the announcement in a terse statement late on Tuesday, did not say how much the country would borrow, but bankers suspect it would be about 500 million euros.

Analysts say Malaysia's move is designed not as a bet on currencies but as a way to reduce its reliance on dollars and yen.

''Diversification is the idea,'' said Mr. Fernandez at J.P. Morgan, adding that the euro-denominated bonds would ''make Malaysia stand out.''

Malaysia's Finance Ministry said borrowing in euros was an attempt to cultivate a ''new investor following in Europe.''

The move also has political overtones. Malaysia's prime minister, Mahathir bin Mohamad, has long been critical of East Asia's reliance on the dollar.

Analysts and bankers said the Malaysian government bonds probably would have a five-year maturity, but the details have yet to be worked out.

Malaysia's credit ratings were recently upgraded by Moody's Investors Service by one notch to Baa2, the second- lowest grade of ''investment quality'' bond

http://asia.biz.yahoo.com/news/asian_markets/article.html? s=asiafinance/news/001031/asian_markets/dowjones/ Malaysia_Renong_Unit_Defaults_On_MYR227.5M_In_Interest.html

Tuesday, October 31 7:57 PM SGT

Malaysia Renong Unit Defaults On MYR227.5M In Interest

KUALA LUMPUR (Dow Jones)--Malaysian conglomerate Renong Bhd. (P.RNG) Tuesday said its light rail subsidiary, Projek Usahasama Transit Ringan Automatik Sdn. Bhd., or Putra, has defaulted on an interest payment totaling 227.5 million ringgit ($1=MYR3.80) on a MYR2.0 billion loan as of Oct. 30.

Renong announced earlier this year that in November 1999, Putra defaulted on an interest payment on the same loan totaling MYR44.6 million.

"The default arose principally because of low revenue received," Renong said in a statement to the Kuala Lumpur Stock Exchange.

The default is expected to lead to interest payment defaults on two smaller loans granted to Putra, Renong said. These two loans total MYR1.5 billion and MYR771.0 million respectively.

Despite the default on the interest payment for the MYR2.0 billion loan, however, the creditors for the two smaller loans have not demanded payment. This is probably because Renong and Putra are already working with Malaysia's Corporate Debt Restructuring Committee, or CDRC, to create a restructuring plan to help Putra settle its debt.

Putra is currently in talks with the creditors of the MYR2.0 billion loan to extend the payment date for the MYR227.5 million interest payment to Dec. 30, 2000, Renong said.

In a separate statement, Renong dismissed a recent report in the Business Times daily that said the Malaysian government will take over the rail system by issuing bonds to settle Putra's debts.

Renong said it has yet to complete Putra's debt restructuring as it is still in talks with the CDRC.