ank Negara sees 'opportunity' in renminbi investment - Zeti Author: Tan KW | Publish date: Tue, 1 Dec 2015, 01:32 PM
By Chester Tay / theedgemarkets.com | December 1, 2015 : 1:03 PM MYT
KUALA LUMPUR (Dec 1): Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz said "there will be opportunity" for renminbi investment after the currency was included in the International Monetary Fund's (IMF) benchmark basket.
Yesterday, the IMF announced it added the renminbi or yuan as one of its special drawing rights (SDR) currencies.
Today, Zeti described the announcement as "a welcome development".
She said Bank Negara's renminbi reserve was at a "comfortable" level, but the central bank would make continuous assessment to ensure the amount held remained relevant.
"We will assess carefully, we already have renminbi at a level that we are comfortable with. But as the market grows in size, there will be opportunity for the (renminbi) investment," Zeti told reporters at the Iclif Leadership Energy Summit Asia 2015 here.
She was responding to a question on whether Bank Negara would increase its renminbi reserves following the IMF's announcement.
Reuters reported that the IMF admitted China's yuan into its benchmark currency basket on Monday, in a victory for Beijing's campaign for recognition as a global economic power.
The decision to add the yuan to the SDR basket alongside the dollar, euro, pound sterling and yen is an important milestone in China's integration into global finances and a nod to the progress it has made with reforms.
Today, Zeti also fielded questions on Bank Negara's investigation on 1Malaysia Development Bhd (1MDB).
On the progress of the 1MDB probe, Zeti said Bank Negara was not allowed to discuss the status of the investigation before the case is concluded.
"The investigation (by Bank Negara) has [been] completed. Now there is some progress in the actions that are being taken relating to some of the approvals that we have given them (1MDB), and that is in progress.
"I am not in liberty to discuss the status of the investigation until that is concluded," she said.
Like always whatever good news does not influence shares to go. Today trading, In the beginning look great but moving ahead look like going back to square one. Going downnnnnn.......Hahaha
Hi Jie You, don't need to be so worry on the price drop, unless you are contra buyers. I bought it for medium term as our TP is still 0.50. Price can't be up everyday.
Bank Negara governor Tan Sri Zeti Akhtar Aziz welcomes the inclusion of the Chinese currency in the International Monetary Fund’s (IMF) basket of reserve currencies as an “important development” that will contribute to greater stability in the international monetary system.
Asean countries and countries that have significant trade with China will use yuan as a trade currency because there is tremendous benefit in doing so.
I would like to have a Junior Malaysia Stocks Research Team for Age Group 25-32 and those stay in Klang Valley Area so that easier to meet up. Please PM my new facebook (richman_chua@hotmail.com) if you are interested to join.
It is very unfair to punish China listed companies here for not paying dividend when many local stocks eg XOX, Frontkn, Instaco, etc not paying dividend as well but fetch much higher valuation.
Last Friday the PN17 lifted announcement day is Day T. So Today is T+3. Tomorrow is T3+1. I expect price range bounce between 0.155 - 0.170 until after tomorrow. However, it is still a good entry at 0.160 given that the price will DEFINITELY reach 0.190 within the next 5 days!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Airo Chasz
382 posts
Posted by Airo Chasz > 2015-12-01 21:50 | Report Abuse
Steward pls provide the link pls