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Sabah, <b>Sarawak</b> register normal rainfall despite El Nino risk <b>...</b> Berita Sarawak - News 2 Sarawak

Sabah, <b>Sarawak</b> register normal rainfall despite El Nino risk <b>...</b>

Posted: 09 Apr 2014 09:44 AM PDT

KUCHING: The Borneo island comprising Sabah, Sarawak and Kalimantan have been registering largely normal rainfall in the first quarter of 2014 (1Q14), despite a rising risk of a weak El Nino in the second half (2H) of the year.

According to the research arm of Maybank Investment Bank Bhd (Maybank IB Research), Peninsular Malaysia and parts of Sumatra had in contrast only managed to experience below average rainfall in March after a very dry February.

Quoting the Australian Bureau of Meteorology's (ABM) latest update issued on Tuesday, the research arm highlighted that it is now likely (estimated at greater than 70 per cent chance) that an El Niño will develop during the southern hemisphere winter.

"According to the Meteorological Service Singapore, the majority of climate models are also projecting a likelihood of a weak El Nino developing in 2H14," it added.

It noted that the Met departments predict slightly below normal rainfall in April and normal rainfall in May.

"In our view, a weak El Nino will have a more muted positive impact on crude palm oil (CPO) price compared to a strong El Nino. A close monitoring of indicators and rainfall forecasts are crucial," it opined. In the immediate term, Maybank IB Research observed that the market generally remains concerned over the ample oilseeds situation arising from the ongoing soybean harvest in South America, and recently announced planting intention in the USA (which favours soybean planting over corn).

In regards to the CPO price, the research arm of MIDF Amanah Investment Bank Bhd (MIDF Reserach) noted that since mid-March, the price has been on the decline due to weakening sentiment over exports.

MIDF Reserach further noted that for March 2014, the independent cargo surveyors, Intertek Testing Services (ITS) and Societe Generale de Surveillance (SGS) have estimated that Malaysia's palm oil exports fell 3.1 per cent month on month (m-o-m) and 3.4 per cent m-o-m respectively.

"Despite a weaker export sentiment, we expect palm oil inventory in March to remain below 1.70 million metric tonnes (mmt) as we anticipate a slower production growth due to the dry weather condition.

"We expect CPO production in March to grow approximately by 1-2 per cent year on year (y-o-y) compared to the production growth of 9.4 per cent y-o-y recorded in March 2013," the research arm projected.

According to Maybank IB Research, CPO price traditionally weakens towards the middle of the year in anticipation of larger CPO output in 2H of the year.

"Hence, we believe CPO price will trade between RM2,400 per tonne to RM2,600 per tonne towards mid-year. Our CPO average selling price (ASP) forecast of RM2,600 per tonne is unchanged for 2014 and 2015.

"But for every RM100 per tonne change in our CPO price forecasts, the earnings forecasts for plantation stocks under our coverage changes by five per cent to 12 per cent respectively," it explained.

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Sara Resorts given overall satisfactory performance – BorneoPost <b>...</b>

Posted: 08 Apr 2014 10:22 AM PDT

KUCHING: The overall performance of Sara Resorts Sdn Bhd (Sara Resorts) has been satisfactory, according to an audit conducted from September to November last year by the Auditor General (AG).

Sara Resorts, a company wholly owned by Sarawak Economic Development Corporation (SEDC) with an authorised capital of RM25 million and paid-up capital of RM16.36 million, generally manages the properties and assets for tourism, identifies and develops projects for tourism while also carrying out marketing and promotional programmes for the Tourism And Leisure Division of SEDC.

In addition, Sara Resorts also directly manages its two principal activities, the Sarawak Cultural Village (SCV) and Damai Beach Resort Hotel.

In the Auditor General's report for the year 2013, it was highlighted that Sara Resorts' reported profit after tax for the financial year ended 2010, 2011 and 2012 amounted to RM5.53 million, RM1.82 million and RM2.06 million respectively.

The report highlighted the decline of RM3.71 million or 67.1 per cent in 2011 as compared to 2010 was due to the adjustment of RM3.5 million in Sara Resorts' current account to SEDC at the end of 2010 to offset construction costs of Damai Slope which was not used in the end.

Overall, the audit findings revealed that among others, SCV only carried out corrective maintenance on its buildings and facilities with an expenditure amounting to RM0.59 million for 2010 to 2012 whereby allocation received was RM0.97 million.

It also found that outstanding trade receivables amounting to RM0.40 million were not collected while control of official receipts, entrance passport and admission ticket to the SCV were not satisfactory.

This has resulted in the AG recommending a few measures to Sara Resorts to improve on its management to remain competitive.

These include reviewing the role and direction of its subsidiary Sara Hospitality Sdn Bhd (Sara Hospitality), an investment company and supervisor of hotel management. Sara Hospitality also acts as the rental agent for Hotel Grand Margherita and Hotel Riverside Majestic.

It further advised on the maintenance of buildings and facilities in SCV which should include preventative maintenance and rehabilitation for the tourist spot. It added that SCV should collect any outstanding balances of trade receivables.

Lastly, it opined that SCV should comply with the financial procedures and prepare a register to record the revenue documents as well as to prepare a more effective system of recording for the souvenir shop.

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Minos: No place for instigators in <b>Sarawak</b> - The Borneo Post Online

Posted: 31 Mar 2014 12:13 PM PDT

KUCHING: Parti Pesaka Bumiputera Bersatu (PBB) veteran Dato Peter Minos has condemned DAP Sarawak's pledge to nominate a Dayak to be the chief minister if Pakatan Rakyat formed the next state government as nothing more than an instigation tactic .

He said DAP Sarawak has once again used this 'hasut' or instigation tactic just to cook up any issue that incite and excite the people since it was eyeing the coming 11th state election to be held in 2016 or even earlier.

"It seems to me that all the Peninsula-based opposition parties are too keen and too open with racial politics knowing full well that this will most likely bring about ill-feeling among the races.

"I am a Dayak but I do not buy DAP's idea because it is inherently racial and does not bring anything good to me or Sarawak. Maybe Sarawakians should say and show their repulsion of DAP's politics of extreme instigation," he said when contacted yesterday.

DAP Sarawak chairman Chong Chieng Jen had told reporters after the party had come to a unanimous decision on appointing a Dayak as Chief Minister after observing the unfair practice of Barisan Nasional (BN) all these years.

Another reason, according to Chong, that prompted the party to make the resolution was the appointment of Tan Sri Datuk Amar Adenan Satem as Chief Minister following Pehin Sri Abdul Taib Mahmud's resignation, having bypassed the Deputy Chief Minister Tan Sri Datuk Patinggi Alfred Jabu Numpang who is a Dayak.

Chong also reasoned it was only right for a Dayak to be elected as Chief Minister as they are the most populous race in Sarawak.

Minos, who was formerly deputy to Adenan when the latter was PBB information chief, in defence of BN said anyone and any member of any race, if good and wise, could be the Chief Minister of Sarawak, provided the democratic process through party and election systems were met.

"Tan Sri Adenan has won his state seat, and PBB being the biggest party in Sarawak, wanted him (to lead the state). So why bring the issue of race? Why make the Dayaks jittery by instigating them?"

Minos also cited BN's big majority win in the Balingian by-election last Saturday as show of Sarawakians' approval of Adenan as chief minister.

He said the big votes for BN showed that Sarawakians were happy that Adenan made a strong stand against Umno's entry into Sarawak, his assurances over religious freedom, his backing for reconciliation efforts for SPDP and SUPP and the shutting of door to extremists and bigots.

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Lectures on cutting-edge research at Curtin <b>Sarawak</b> – BorneoPost <b>...</b>

Posted: 03 Apr 2014 12:13 PM PDT

MIRI: Key stakeholder in Miri's development, Curtin University, Sarawak Malaysia (Curtin Sarawak) is presenting its inaugural 'Progressing with Society through Research' public lecture series this coming April 12 and 19.

The lectures will be held at the auditorium of Pustaka Miri from 1pm to 5pm on both dates.

The lectures, which are open to the public and delivered by academics of Curtin Sarawak's School of Business and School of Engineering and Science, will showcase the latest research conducted by academic staff of the two schools as well as some of the latest development in scientific and business research.

According to student recruitment officer Chan Zhungyi who is coordinating the lecture series, the series is inspired by Miri City's motto 'Maju Bersama Masyarakat' and it is hoped that by introducing members of the public to the latest development in research, they will be inspired to gain a competitive edge in an increasingly globalised economy.

On April 12, three academics of the School of Business will deliver their lectures.

They are senior management lecturer Dr Lew Tek Yew talking on 'Festival Destination: Miri City. The way forward (with implications on talent management aspects)' and marketing and management senior lecturer Dr Goi Chai Lee on 'Relationship between Marketing Mix and U-Commerce: Make Tomorrow Better'.

The third lecture for the day is on 'Strengthen Your Career – Curtin's Master Degree by Coursework in Project Management' by industry collaboration advisor and programme coordinator (postgraduate studies by coursework) Chan Kwok Mow.

On April 19, applied geology senior lecturer Dr Afroz Ahmad Shah from the School of Engineering and Science will talk on 'Earthquake Hazards in Southeast Asia'.

Dr Mesfin Getu Woldetensay from chemical engineering will lecture on 'Optimal Operation and Design of Gas Processing Plant under Uncertain Conditions' and head of Department of Civil and Construction Engineering Dr Tang Fu Ee on 'Environmental Engineering: Treating Septage Sustainably'.

The lectures can be attended free-of-charge. To register, e-mail Chan Zhungyi at zhungyi@curtin.edu.my or call 019-805 1399. The deadline for registration is April 9.

For more information on Curtin Sarawak, visit its website at www.curtin.edu.my, its Facebook page at facebook.com/CurtinUniversitySarawakMalaysia, Twitter profile at twitter.com/curtinsarawak, YouTube channel at www.youtube.com/user/CurtinUniSarawak or Instagram at instagram.com/curtinsarawak.

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