KPDNKK revised petrol and diesel prices for January 2015

Folks,

Today, the Domestic Trade, Co-operatives and Consumerism Ministry (KPDNKK) issued a press statement about petrol prices for RON95, RON97 and diesel, which will be slashed effective tomorrow.

Here is the news that I have written about it:

KPDNKK cuts RON95 and RON97 by 35 sen, and diesel price by 30 sen beginning tomorrow

By Sulhi Azman

KUALA LUMPUR (Dec 31, 2014): The Domestic Trade, Co-operatives and Consumerism Ministry (KPDNKK) has announced that the retail petrol prices will be reduced by 35 sen each for RON95 and RON97, while the retail price for diesel will be reduced by 30 sen per litre, effective from 12:01am tonight.

The retail price reduction will see RON95 drop to RM1.91 per litre from RM2.11 per litre currently, while RON97 will drop to RM2.11 per litre from RM2.46 per litre and diesel will be reduced to RM1.93 per litre from RM2.23 per litre currently.

“The government will continue to follow market development in product cost and foreign currency exchange to determine the retail price for petrol and diesel for the coming months,” KPDNKK Minister Datuk Seri Hasan Malek, 68, said in a media statement this evening.

To recap, the government had on Nov 21 announced to rationalise the fuel subsidy by implementing the managed float system, where the monthly average of the world crude oil price would determine the retail fuel prices of the following month.

Earlier this month, the price of RON 95 were reduced by 4 sen to RM2.26 per litre, while the price for RON97 were slashed by 9 sen to RM2.46 per litre.

However, the price of diesel was increased by 3 sen from RM2.20 per litre.

It is worth noting that the World Bank had in its latest “Malaysia Economic Monitor” report said that the removal of fuel subsidies will help the government to save an estimated of between RM10 billion and 12 billion in 2015.

END

Hefty Land Price

Peeps,

This posting is not about KSK Group, but raather, about extracting therein the data to all of you:-

*the land price in Kuala Lumpur area floats  around RM 3,300 per square feet (psf).

*our record of land price is RM 7,209 psf for a small piece of land between Grand Millenium Hotel and Pavilion Kuala Lumpur.

My God!

I never knew the value sky-rocketed to that kind of price!

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Image source: The Edge Weekly, Issue #992, Dec. 9th, 2013. Page 12.

The Value of RM 10

Peeps,

What is the value of RM 10 these days? Very little, but still, is valuable to many middle-class Malaysians.

Surviving in Malaysia is increasingly becoming difficult, but thankfully, my unscientific observation says that it is still manageable.

Anyway.

Most wage earners working at hotels earn less than RM 10 per hour, and it this RM 10 that will buy them foods and other sustenance materials.

The image shown below is clearly depicting the current situation of our currency, especially in Kuala Lumpur. The declining value of ringgit. The exploding of prices of goods in Malaysia, Kuala Lumpur in particular.

With high cost of living, RM 10 is not enough to survive in this thriving city of Kuala Lumpur.

Well, maybe you can spend less than RM 10 a day, but what can you really buy?

Our famous Nasi Lemak that is sold every morning is snow "socially standardized" at RM 2, and even then the portion is not as much as you would get in those days.

If you want a "sunny egg", then the price would increase by RM 0.50. And rest assured that the egg would be of the lowest quality and may not even be cooked properly.

Very soon too, a can of Coca Cola sold at 7-Eleven might be RM 10, if no immediate economic measures are taken to strengthen the value of ringgit.

And there must be some sort of mechanisms to control and stabilize the price of everything in Malaysia.

I dont know how the government would do it; but I really urge them to do so quick for prices of goods in Kuala Lumpur are uncontrollably soaring high and higher everyday!

The increase in price must be gradual and ideally, it should be in line with the country's economic growth.

And it (price increase) should also ideallu be in tandem and in proportion with our salary increment! Which to some is just peanut!

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Disclaimer: I do not own the image below.

Price Increase

Friends,

To recap, Prime Minister Datuk Seri Najib announced fuel hike of 20 sen (RM 0.20) on Sept. 2nd, 2013.

As we all know, an increase in fuel price will increase almost every single cost and price in Malaysia.

The data below was checked and compiled by a research house (M&A Securities) which shows that there is an increase of 20 sen in almost all food prices.

The increase, when read in percentage, is a rude jolt for my mind to fathom. Imagine a 20% increase. Wow, that is a lot to consider; even though it is an increase from RM 1.00 to RM 1.20.

I can definitely understand the fluctuation of oil price, but the government should be a bit mindful too of the resultant domino effect when raising the oil price.

Source: Focus Malaysia, Issue 44, Oct. 5th-11th. Page 16.

Cheaper Cars in Malaysia

Folks,

The topic of the price of cars in Malaysia has turned from a personal issue, to political issue and now, the national issue.

It is sensational, and you can hear this topic discussed among the pak cik-s, mak cik-s, uncles and aunties at your local kopitiam.

Even school-going children have started to take keen interest in this issue. This topic is especially sensational!

The fact of the matter is, cars in Malaysia are highly priced. To me, having a car is not a luxury anymore; it is a necessity, given the current condition of our public transportation system.

In this week's issue in The Edge Weekly, Monday, June 6th, 2013; the subject of a car price is hotly debated and presented by the collective voice of the editorial team.

This issue is not easy to deal with as there are many parties involved, for example: Proton, Perodua, Foreign Car Brands, Customs etc.

Any deal harping on this issue must be done with great consideration and cautions. We need to protect many interests, and most crucial of all, the interest of the rakyat, who voted for the creation of the government of the day.

I personally think that the car price should be gradually reduced, for the benefit of the citizens of Malaysia.

And, there is a greater need for transparency in determining the price of the car. The citizens have the right to be informed of how much tax (excise etc.) is being imposed on them.

And let us see how Najib's administration is going tackle and deal with this sensitive issue in this 5 years (2013 - 2018).

Price of Bread Not Increased

Folks,

Malaysia's best bread, Gardenia, has confirmed that its price remains the same and that there is NO price increase in its bread.

However, the social media is all abuzz with so many reports claiming that the price of Gardenia bread has increased.

I believe that this rumour is closely related to the outcome of our general election on May 5th, 2013.

I read with interest that not only Gardenia's name was picked and slated by this rumour; other brands were also badly implicated.

The truth of this rumour has yet to be verified, but I have to say that many people especially in the social media associated the acronym of BN to "Barang Naik", which in English means "Price Hike".

It is also widely reported in the social media that should BN win, then prices of goods such as highway toll, petrol prices and groceries will be increased. To what extend this is true is yet to be validated by relevant parties. So far, I have not experienced any price hike in goods and services.

This report about Gardenia is totally untrue and thank goodness that Gardenia' Chief has spoken to clear the matter.

While we may have different political ideology and inclinations, we must be careful not to slander any organization especially pertaining to price hike.

Let us observe and see the trend and prices of goods and service in coming time. Then only will we be able to conclude affirm the alleged rumours.