Bank Negara's international reserves rise to US$119.9bil
KUALA LUMPUR: The international reserves of Bank Negara Malaysia (BNM) increased marginally to US$119.9 billion (US$1=RM4.24) as at June 13, 2025, from US$119.60 billion recorded as at May 30, 2025.
In a statement today, the central bank said the reserves position is sufficient to finance 5.0 months of imports of goods and services, and is 0.9 times the total short-term external debt.
The main components of the reserves were foreign currency reserves (US$106.7 billion), the International Monetary Fund reserve position (US$1.3 billion), special drawing rights (SDRs) (US$5.8 billion), gold (US$3.8 billion) and other reserve assets (US$2.3 billion).
Total assets amounted to RM630.55 billion, comprising gold and foreign exchange and other reserves, including SDRs (RM531.12 billion), Malaysian government papers (RM12.91 billion), deposits with financial institutions (RM4.26 million), loans and advances (RM27.08 billion), land and buildings (RM4.58 billion), and other assets (RM50.57 billion).
BNM said total capital and liabilities amounted to RM630.55 billion, comprising paid-up capital (RM100 million), reserves (RM194.93 billion), currency in circulation (RM172.73 billion), deposits by financial institutions (RM127.93 billion), federal government deposits (RM10.53 billion), other deposits (RM82.23 billion), Bank Negara papers (RM10.55 billion), allocation of SDRs (RM28.38 billion), and other liabilities (RM3.13 billion).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
29 minutes ago
- The Sun
FOMCA backs fairer, transparent electricity tariff reform
KUALA LUMPUR: The Federation of Malaysian Consumers Associations (FOMCA) has expressed full support for the implementation of the new electricity tariff structure under Regulatory Period 4 (RP4), describing it as timely, progressive and beneficial for Malaysian households. FOMCA chief executive officer Dr T. Saravanan said the new tariff, which will take effect from July 1, 2025, to Dec 31, 2027, under the Incentive-Based Regulation (IBR) framework, reflects a fairer and more transparent energy pricing system. 'This initiative comes at a crucial time when many households are facing financial pressures due to inflation and the rising cost of living,' he told Bernama. He said the revised tariff structure reduces the average base tariff from 45.62 sen/kWh to 45.40 sen/kWh, contributing to an estimated 19 percent reduction in total average electricity costs compared to the previous regulatory period. Although the rate cut may appear marginal, Saravanan said it is supported by structural reforms that provide greater protection to domestic consumers, particularly those in the B40 and M40 income groups. Saravanan said the introduction of the 'Energy Efficiency Incentive' allows households that consume 1,000 kWh or less per month to avoid any tariff increase, thereby rewarding energy-efficient users and encouraging responsible consumption. 'The updated structure also includes a more detailed billing system, with breakdowns of energy generation, network usage, capacity charges, and retail costs. 'This level of transparency empowers consumers to understand their bills better and provides clarity on how costs are derived, thereby enhancing trust and enabling more responsible consumption decisions,' he said. The expanded 'Time of Use' (TOU) scheme now includes weekends and off-peak weekday hours from 10 pm to 2 pm the next day, enabling consumers to enjoy further savings by shifting high-usage activities to these periods. FOMCA also welcomed continued protection for vulnerable groups, including a RM40 monthly rebate for hardcore poor households under the e-Kasih programme, and dedicated tariffs for the agriculture, water, sanitation, and rail sectors. A 10 percent rebate for educational institutions, places of worship, and registered welfare homes will also remain in place. Saravanan said the replacement of the Imbalance Cost Pass-Through (ICPT) mechanism with the new Automatic Fuel Adjustment (AFA) system would enhance price responsiveness to global fuel and currency movements, but stressed the need for clear communication on any resulting price changes. He also urged the Domestic Trade and Cost of Living Ministry (KPDN) to step up enforcement against unjustified price hikes in essential goods that may be triggered by the tariff adjustment. 'FOMCA will continue to monitor the implementation closely and advocate for ongoing consumer engagement, education and regulatory enforcement to maximise the impact of this policy reform,' he said. The Energy Commission today announced that starting July 1, 2025, over 23.6 million domestic users in Peninsular Malaysia will benefit from fairer and more progressive electricity rates under the newly approved tariff schedule for Regulatory Period 4 (2025–2027). This includes changes to the average base tariff rate, the tariff structure and the fuel cost adjustment mechanism, implemented under the Incentive-Based Regulation framework.
The Sun
an hour ago
- The Sun
Derivatives trading boom in India
MUMBAI: Half a dozen global trading giants, from Citadel Securities and IMC Trading to Millennium and Optiver are ratcheting up their presence in India's booming derivatives markets – fuelling a hiring spree and pushing exchanges to improve technology. The firms' hiring plans, being reported for the first time, come amid expectations that large domestic consumer and investor bases will help shield India from global turmoil sparked by the trade policies of US President Donald Trump. The South Asian nation made up nearly 60% of global equity derivative trading volumes of 7.3 billion in April, the Futures Industry Association says, while its regulators say notional turnover of the contracts has grown 48 times since March 2018. For Western firms, the gold rush is too big to ignore, particularly after US trading firm Jane Street earned US$2.34 billion (RM9.9 billion) from its India trading strategy last year, some of the firms' executives said. 'We have seen competition increasing both on the trading front, where you see more players going for the same opportunities, and on the job market as well,' said Jocelyn Dentand of global high-speed trader IMC Trading. The firm plans to grow its team by more than 50% by the end of 2026 to stand at more than 150, added Dentand, the managing director of its India unit. Foreign investors turned buyers of Indian stocks in April and May, purchasing a net US$2.8 billion, as they abandoned their previous selling stance from October 2024 to March 2025, prompted by high valuations and slower growth in earnings. US-based Citadel Securities, a market-making firm founded by well known investor Kenneth Griffin, runs a leaner team of around 10 in India but has ramped up capital allocation to its operations, said a source familiar with its plans. 'In India, we're constantly looking for talent and constantly hiring,' said the source, who sought anonymity in the absence of authorisation to speak to the media and declined to give details of the plan. Hedge fund Millennium is expanding its India desk via Dubai and Singapore, said a source with direct knowledge of the matter, who also sought anonymity on the same grounds. Millennium declined to comment for the story. Citadel Securities did not respond to an email seeking comment. Netherlands-based Optiver, which launched India operations in 2024, plans to grow its team to 100 by the end of 2025, a spokesman said, up from 70 now. 'Optiver is investing ambitiously in India, with a view to expanding to 100 FTEs by year-end and scaling further in the years ahead,' the spokesman added. Amsterdam-based trading firm Da Vinci and London-based Qube Research and Technologies are also recruiting for quantitative trading roles in India, public postings for jobs show. Global trading firms are also looking to expand in India by recruiting aggressively from top domestic universities and poaching from home-grown competitors. They have hired about 300 people in India in the last two years across the trading, technology, compliance, risk, and legal functions, Hong Kong-based recruiter Aquis Search estimates. 'We foresee a good run for the next few years,' said Annpurna Bist, its head of quant and tech. Intensifying competition has driven up salaries, with even junior traders paid more than double the figure of three years ago, said Bhautik Ambani, head of AlphaGrep Investment Management, one of India's leading quant trading firms. India's top engineering schools have become the favoured hunting grounds for talent. 'We almost solely hire our traders and software engineers from Indian Institutes of Technology (IITs),' said IMC's Dentand, referring to the country's chain of prestigious engineering schools. But hiring efforts are now being widened to the universities beyond the IITs, Dentand said. The influx of global trading firms has opened up opportunities for India's two main exchanges, which are both upgrading their tech infrastructure. The National Stock Exchange of India (NSE) plans to add 2,000 co-location racks over the next two years while older stalwart the Bombay Stock Exchange (BSE) aims to scale up to 500 by the end of fiscal 2026, from none in March 2024. Such racks are servers at exchanges that cut trade execution times to microseconds. 'We are a late entrant and need to provide additional value for the unfulfilled demand from high-frequency trading firms and quant firms, amongst others, for co-location racks,' said BSE CEO Sundararaman Ramamurthy. The exchange has spent between 4.5 billion rupees and 5 billion rupees (RM221 million to RM247 million) on technology in the last two years, he said. The NSE and regulator the Securities and Exchange Board of India did not respond to queries for the report. – Reuters
The Star
an hour ago
- The Star
Rice prices double in Japan as inflation accelerates
A customer purchases a bag of government stockpiled rice on sale in a section of convenience store chain Seven-Eleven Japan in Tokyo on June 17, 2025. The price of rice went up 101 per cent on-year in May. - AFP TOKYO: Rice prices doubled last month in Japan as core inflation accelerated, official data showed Friday (June 20), posing a threat to Prime Minister Shigeru Ishiba ahead of July elections. The vote for parliament's upper house, due next month, is crucial for Ishiba after public support for his government tumbled to its lowest level since he took office in October, partly due to frustration over the cost of living. In May, Japan's core inflation rate, which excludes volatile fresh food prices, hit 3.7 per cent - its highest level since January 2023 - interior ministry data showed. The figure narrowly beat market expectations and was up from a 3.5 per cent year-on-year rise logged in April. Rice was more than twice as expensive as a year previously - despite the government releasing its emergency stockpile of the staple grain to try to bring its price down. A supply chain snarl-up has caused a shortage of rice in shops, with the grain's price up 101 per cent on-year in May, compared to the eye-watering 98 per cent rise in April. The government began releasing stockpiles in February in an attempt to drive down prices, something it has only previously done during disasters. Electricity bills were 11.3 per cent higher in May, and gas fees rose 5.4 per cent, according to Friday's data. Excluding energy and fresh food, Japan's consumer price index (CPI) rose 3.3 per cent, compared to April's 3.0 per cent. To help households combat inflation, Ishiba has pledged cash handouts of 20,000 yen (US$139) for every citizen, and twice as much for children, ahead of the election. The 68-year-old leader's coalition was deprived of a majority in the powerful lower house in October as voters vented their anger at rising prices and political scandals. It was the worst election result in 15 years for the Liberal Democratic Party (LDP), which has governed Japan almost continuously since 1955. Earlier this week the Bank of Japan kept its interest rates unchanged and said it would taper its purchase of government bonds at a slower pace, as trade uncertainty threatens to weigh on the world's number four economy. "Policy flip-flops and delayed pass-through from producers to consumers mean inflation will slow only gradually in the coming months," said Stefan Angrick of Moody's Analytics. "This will keep a sustained pickup in real wages out of reach, and with it a meaningful uptick in consumption." Factors behind the rice shortages include an intensely hot and dry summer two years ago that damaged harvests nationwide. Since then some traders have been hoarding rice in a bid to boost their profits down the line, experts say. The issue was made worse by panic-buying last year prompted by a government warning about a potential "megaquake" that did not strike. Going forward, US tariffs are expected to weigh on Japan's growth, with economists predicting a slowdown ahead. Intensifying fighting between Iran and Israel was also adding pressure for energy prices to head north, posing a further risk to the Japanese economy. - AFP
