Bank Negara Malaysia Tender: Fill & Download for Free

Yes, they do.2 January 2014 Bank Negara Malaysia (BNM) issued a following statement: "The Bitcoin is not recognized as legal tender in Malaysia. The Central Bank does not regulate the operations of Bitcoin. The public is therefore advised to be cautious of the risks associated with the usage of such digital currency". On 4 October 2017, BNM announced that by the end of the year the decision on whether or not cryptocurrencies should be banned in Malaysia will be taken.Malaysia has a wide natural resource base including large deposits of natural gas (4th place in the region after China, India and Vietnam). It's also the leading world exporter of palm oil and, prior to 2008 world crisis, was the major tin exporter.In a period of 1980-1990 Malaysian economy was part of the Asian economic miracle. Its per annum GDP growth rate had stayed above 6% for several decade. Malaysian electronic producing companies gained advantage against the world's best competitors because of a cheap labor. The whole Malaysian electronic industry had been built literally from scratch. Malaysian energy and telecommunications sectors are among regional leaders. Malaysians are largest holders of mobile phones in the Southeast Asia.Malaysian economy is built on the backs of powerful manufacturing and financial conglomerates. As a result, Malaysian governmental, legal and administrative systems are highly bureaucratic and over-centralized.Malaysian developed electronic sector is a breeding ground for local startup ecosystem. Malaysian consumers have a relatively large disposable income compare to its regional counterparts, which creates a plethora of profit opportunities for tech founders in B2C sector. Malaysia is one of the leading countries in the world by the ease of doing business. At the same time, regional divisions, growing competition and bureaucratic barriers slow local e-businesses growth.Business Notes for Startups Founders:political climate: not friendly;economic climate: moderately friendly;regions to focus: locally;industries to focus: e-jobs, FinTech, EduTech;major limitations: growing competition; governmental, legal and administrative systems are highly bureaucratic and over-centralized;stimulus: accelerating economy (GDP growth rate has increased from 4% in 2016 to almost 6% in 2017), growing manufacturing sector (accounts for 25% of GDP), middle-income consumers (around $11,000), fixed Internet penetration rate about 70%;opportunities: to build an e-business aimed at the growing number of mobile Internet users in FinTech, e-jobs and EduTech;Cryptocurrencies and ICOs: pending (temporarily legal).

Malaysia has a wide natural resource base including large deposits of natural gas (4th place in the region after China, India and Vietnam). It's also the leading world exporter of palm oil and, prior to 2008 world crisis, was the major tin exporter.In a period of 1980-1990 Malaysian economy was part of the Asian economic miracle. Its per annum GDP growth rate had stayed above 6% for several decade. Malaysian electronic producing companies gained advantage against the world's best competitors because of a cheap labor. The whole Malaysian electronic industry had been built literally from scratch. Malaysian energy and telecommunications sectors are among regional leaders. Malaysians are largest holders of mobile phones in the Southeast Asia.Malaysian economy is built on the backs of powerful manufacturing and financial conglomerates. As a result, Malaysian governmental, legal and administrative systems are highly bureaucratic and over-centralized.Malaysian developed electronic sector is a breeding ground for local startup ecosystem. Malaysian consumers have a relatively large disposable income compare to its regional counterparts, which creates a plethora of profit opportunities for tech founders in B2C sector. Malaysia is one of the leading countries in the world by the ease of doing business. At the same time, regional divisions, growing competition and bureaucratic barriers slow local e-businesses growth.2 January 2014 Bank Negara Malaysia (BNM) issued a following statement:"The Bitcoin is not recognised as legal tender in Malaysia. The Central Bank does not regulate the operations of Bitcoin. The public is therefore advised to be cautious of the risks associated with the usage of such digital currency". On 4 October 2017, BNM announced that by the end of the year the decision on whether or not cryptocurrencies should be banned in Malaysia will be taken.Business Notes for Startups Founders:political climate: not friendly;economic climate: moderately friendly;regions to focus: locally;industries to focus: e-jobs, FinTech, EduTech;major limitations: growing competition; governmental, legal and administrative systems are highly bureaucratic and over-centralized;stimulus: accelerating economy (GDP growth rate has increased from 4% in 2016 to almost 6% in 2017), growing manufacturing sector (accounts for 25% of GDP), middle-income consumers (around $11,000), fixed Internet penetration rate about 70%;opportunities: to build an e-business aimed at the growing number of mobile Internet users in FinTech, e-jobs and EduTech;Cryptocurrencies and ICOs: pending (temporarily legal).

Cost of living range from housing, foods, groceries, public transport, telecommunication etc. Here we focus on price of daily goods ;Exempt from Jomo interview with Malaysiakini [1]Fighting a jihad against middlemen was not only thinly disguised misinformed and misguided stunt intended to score ‘ethno-populist’ points, but also irrelevant to addressing contemporary challenges.Shifting tax burdenHow have recent tax reforms affected Malaysian households?Jomo: Following the introduction of the GST in April 2015, tax revenue from households increased from RM42 billion in 2014 to RM67 billion in 2016, with GST more than doubling the contribution of indirect tax from RM17 billion to RM39 billion.At the same time, income tax revenue has risen modestly from RM24 billion in 2014 to RM28 billion in 2016. On average, Malaysian households paid taxes of RM5,600 each, more than ever before.Meanwhile, government subsidies and assistance have declined, falling from RM43 billion in 2013 to RM25 billion in 2016, with most food price subsidies removed between 2013 and 2016.There are many reasons why the public doubts official inflation numbers, but perhaps most importantly for the country’s open economy, the ringgit exchange rate dropped from RM3.2/USD to RM4.5/USD before recovering to RM4.2 recently.People presume that a decline in the international value of the ringgit by about a quarter must surely have inflationary consequences.The GST of 6% has been imposed since April 2015, directly affecting about half of household spending, with up to a fifth more indirectly affected. Again, this is expected to have affected the cost of living.Price subsidies for sugar, rice, flour and cooking oil have been removed since 2013, raising prices by 14% to 31%. Meanwhile, transport – including fuel and toll – prices have risen on several fronts.Hence, you can understand why people are skeptical.Monopoly, failure in enforcement and market reform.[2]"What's happening now for food as well as the rest of the rest is due to the weakness of our economic structure, our specific market.For me, for economists, we see that the government does not need a subsidy reduction policy, take it near here, take it out of the pocket there, sometimes over there, break it down. The effect of subsidizing reductions can be worse as long as we not solve the problem of market structure.For example, food in Malaysia, most small and medium enterprises, such as restaurants and stalls, they buy from the same manufacturer."In the market there are only a few large companies that have the monopoly of key items such as flour, rice and so on.…The GST analysis capital shows that the price of goods will fall when it is implemented but that does not happen because of the market structure that monopolized some," he said.However, it is not too late for the government to do something to deal with price volatility and supply of food in the country.…the uncertainty in the price of food and the market-felt food is now in line with the International Monetary Fund's forecast of predicting food prices will decline in 2016 as a result of the decline in crude oil prices.…The price of the world oil dropped, Petroleum also dropped but the price of the food did not go down, and when the price of crude oil dropped, the price of food will fall as food is a product that uses a lot of energy to produce so when energy becomes cheap, as well as the cost of electricity, transportation and so on that use the energy generated from this crude oil product.As April 2018, price of oil trending up toward USD$80 - still no effective measure? Someone answer here is Kedai Rakyat 1Malaysia programme (KR1M), or the 1Malaysia People’s Shop 1.0 (peak - 185 outlet open). It fail tremendously. [3][4] There are over 10,000 village and thousand over neighborhood around the countries. 185/10,000 doesn’t even cover 1% population coverage not mistaken, the population ratio allowable to open a hypermarket around 1:350,000 (correct me if I’m wrong here). Population here in Peninsular rather scatter and low - mid density , Sabah & Sarawak are even lower and come with extra challenge (thus logistical nightmare)."Naively maybe, we thought we could sustain it. Unfortunately, the logistics cost behind this was just tremendous,"You will be shocked at the prices of goods at somewhere like Kapit, Belaga, in Sabah, Sarawak. We send containers down there and the goods finish almost immediately."But we are also selling at the same prices we sell in West Malaysia for most of the items.The logistics cost, seriously, came to about 20 to 25 percent. Mydin had to absorb the losses, none of which was borne by the government.Asked about reports on taxpayers having to foot more than RM100 million for the KR1M project, Ameer said these were assets acquired by the government.Let me put it in perspective. Whenever you open a KR1M shop, the assets, that means the renovation, the gondola (shelving), these are paid for by the government."The assets are not the goods. The goods were ours, the operation cost was ours, the prices were ours, the losses were ours, the logistics cost was ours. I made over RM100 million losses.” - Ameer Ali MydinWhat else can be done?Government:Strongly enforce anti-monopoly law → KPDNKK do you job!Enforcement require more than single ministries effort. Nt enough people to do enforcement - streamline the law, lets police & municipal officer share responsibility. Enough talk! look at Bank Indonesia joining the fight against “Chili Mafia”.[7] Maybe appoint a women (with strong pro-consumer with fighter spirit) as minister is great alternative (their a lot more meticulous in their work).“Chili isn’t the only food that has attracted the attention of the price watchdog. Beef, poultry and garlic have also been investigated for price manipulation”, said KPPU’s Muhari. [7]Exempt related activities and more items from GST charge - logistic for basic good (fish, meat, children milk powder, bread etc).Set price ceiling throughout the year not just festival season.Open market through open tender - allow importation of more good (seafood, meat, rice etc) to balance domestic market price.Improve logistic efficiency:Retrofit all existing fuel station and new with natural gas fueling station (improve fuel cost by > 50%).Mandatory for all commercial vehicle to retrofit with natural gas fueling kit in 2 - 3 year.improve their cost efficiency.Discount card for (BR1M recipient - represent over 7 million++ people) B40 and M40 group to shop essential goods at selected supermarket almost similar to KISS (food stamp program by Selangor state).measure citizens and non-citizen spending habits.industries approach rather than government approach.Implement barter program at local level - trade waste with food surplus [5]Organize “pasar tani FAMA” (pasar FAMA) at morning and evening to compliment night market (pasar malam) - alternatve day throughout the week.Tabung Runcit Rakyat (People Retail Fund): setup a trust fund (manage by trustee) - collect contribution of retail sector (total revenue) by x% (annual basis) (similar mechanism as MCMC USP Fund) - initially can focus on high end good and move to other categories (very carefully).disburse the fund according to appropriate plan either to open/upgrade shop, give discount/rebate to necessary group (poor & poorer people) etc.Collection via preferential pricing mechanism (Government already implement this with public healthcare) on essential goods and maybe other goods as well.Improve data surveillance on daily price goods from end to end point of view and open data.Transparent data - from the farm / factory (production) - wholesale - retail which form a single pricing.Deeper and wider surveillance - ability to view price difference and spot location within 100 - 500 meter from food distribution center (mini market, supermarket & hypermarket).consumer view - ability to compare price of goods within his/her nearest residential area - Grab/Uber like price comparison (illustration below show price trend - up/down/maintain - current/yesterday/week on average.new and improved matrix (equality index) in daily goods to measure real impact of spending & income in local communities toward quality of life: [6]Health access, affordibility & quality (nutrition etc),Food access, affordability & availability (quality food).Household income.Consumers:Co-operative retail store - supermarket own by local communities, rather than KR1M 2.0 model, co-op offer better benefit to the local communities. Co-op typically will sell goods and services at lower price to their members.start by investing min RM50/month as share - you know your money going to spend on something (ownership).Prepare:Go and occasional windows shopping on your back from work.determine best value storeask for contact no for their supervisor & bosses (get to know them) - call them before going a trip for purchase.Checklist (very important!):list out your items;ALWAYS ask for a best deal from the seller when & where is the right time to purchase with bargain - coupons, rebate etcform a guild/buyer group within local communities; Sync your purchasing items & schedule the right time to purchase to gain good deal from the seller. Example chicken, beef, fish etc.Extreme couponing? *never witness this type of activities happened in Malaysia (perhaps someone else does).Update:Thanks Steven Wu for asking additional info. The comparison between e-groceries and typical groceries (wet goods). Types of fish and price between outlets vs online outlet (PasarTap). Price differences is very marginal.*Pasar Borong = wholesale market typical sell wet and dry goods in bulk are not well cover because items no longer available as I arrived around 11.00 am.The data we know (from DSOM) - internet penetration (> 75% ish) & smartphone around 70%-ish. The low income B40 have pretty good penetration to in both mobile internet and smartphone penetration. In Kuala Lumpur (Klang Valley), with more than 50% average household income RM1,700 – they spending around 70% on foods (average RM40/day). From my observation - the most savvy family (internet savvy)within the B40 and M40 didn't purchase of wet goods over the internet - it can be done but rare (example from Tesco and PasarTap). [8,9,10].The cost saving from e-groceries? Perhaps combination of 10% - 20% or less?The cost saving perhaps come from travel expenses to wet market, supermarket/hypermarket, parking (mostly free) cost perhaps around RM10 - RM20 (including your breakfast - teh tarik and roti canai/nasi lemak for two?)And for those are shopping savvy, they didn't go to market on Saturday or Sunday – it's darn expensive during those period.It can easily offset via direct purchase (conventional method) that I mentioned above. Behavior and pattern of Malaysian is another factor that we need to look at. Most Malaysian like to touch, feel and smell their wet goods in order to test for freshness (I think this behavior is mostly by mothers and auntie who always go to wet market).The emerging of instant messaging as e-commerce tool is something pretty common seen here between end supplier and end user. Maybe this will help to reduce the friction.[11]Reference:Jomo: Whither the Malaysian economy?Monopoli pasaran pemangkin harga makanan naik - Pakar | Astro Awani (malay)Mydin on KR1M 1.0: 'I Was Naive'Perhaps I was naive about KR1M, says Mydin bossThe City of Curitiba Cashes Your Waste For Surplus Foodunicef.org/malaysia/media_urban_child_poverty.html`Chili Mafia' Hunted by Bank Indonesia for Stoking InflationA fifth of Malaysian digital users access Internet via mobile devices - Nation | The Star OnlineMobile cellular penetration reaches 131.8% in 3Q2017Wages too low, says Bank Negara - Business News | The Star OnlineMalaysians are world's largest WhatsApp users