ECONOMICS RESEARCH | Malaysia
Apr 29, 2015
National Transformation Programme On track thus far…
Quantitatively on the track. Another key achievement is on fiscal consolidation and reforms. Focus going forward is on qualitative aspect, especially “trickle down” impact to the bottom-40% of the income group.
Quantitatively in line with key targets. We estimated the total investment share of corporate investment rose to 79.4% in 2014 from 60.4% in 2010 and that of Government investment fell to 20.6% from 39.6%, on track towards the 92%:8% split under ETP by 2020. GNI was MYR1.03t in 2014, 60.7% of the MYR1.7t target by 2020. GNI per capita reached USD10,426 last year, 69.5% of the USD15,000 target by 2020. 1.8m new jobs between 2010 and 2014 is 54.5% of the targeted 3.3m increase in employment by 2020. Another key achievement is fiscal consolidation and reform i.e. declining budget deficit since 2010; slowing Government debt growth enabling compliance with the self-imposed 55% debt to GDP limit; budgetary discipline given the smaller 2014 Supplementary Budget of MYR6.3b (2010-2013: MYR15.6b p.a.); subsidy rationalization and reforms since Sep 2013 that saw the abolition of fuel subsides in Dec 2014; reduction in the oil & gas related revenues to 29.7% of total revenues in 2014 from the peak of 40.3% in 2009; and the implementation of GST on 1 Apr 2015.
Economists Suhaimi Ilias
[email protected] (603) 2297 8682 Dr. Zamros Dzulkafli
[email protected] (603) 2082 6818 Ramesh Lankanathan
[email protected] (603) 2297 8685 William Poh
[email protected] (603) 2297 8683
Plus evidence of “trickle down” effect, namely the increase in monthly household income, including the Bottom-40% (B40), resulting in B40’s higher share of total income and narrowing of gap with the Top-20% income group (T20) which in turn lower the Gini coefficient to a new low. Investment trends on track thus far, but challenging 2015 as 2020 draws closer. In particular, we sense that investment activities started this year very cautiously, judging from the weakness in corporate sector financing activities, as per the trends in the PDS and IPO issuances as well as the banking system’s business loans. Implementation of Government development spending and major infrastructure projects become vital in sustaining investment momentum Balanced budget target requires mixture of revenues and spending measures. Implementation of GST is timely by providing a broad-based source of tax revenues amid the diminishing share of oil & gas related income to the Government coffers. There are also the potential revenue gains from enforcement as tax audit by the Inland Revenue Board (IRB) and the Royal Customs can be facilitated and strengthened going forward with GST implementation. On spending, there are rooms for improvements to address leakages and wastages. Affirmative action policy to stay, focusing on B40 to raise income, quality of life and opportunities. An immediate measure is raising the Minimum Wage. Policy focus and measures to strengthen the “trickle down” effect of NTP should also be more on the “urban B40” as well as balancing between physical development (basic amenities, housing) and human capital development (education, training, entrepreneurship).
SEE PAGE 45 FOR IMPORTANTDISCLOSURES AND ANALYST CERTIFICATIONS
PP16832/01/2013 (031128)
Malaysia : NTP Report Cards National Transformation Programme – 2014 Report Card NTP = ETP + GTP + SRI. The National Transformation Programme (NTP) consists of the Economic Transformation Programme (ETP), and Government Transformation Programme (GTP) and Strategic Reform Initiatives (SRI). ETP unveiled in Oct 2010 aims to catapult Malaysia into a high-income nation via:
MYR1.4tr of new investments during 2011-2020 in 12 National Key Economic Areas (NKEAs) i.e. Electronics & Electrical; Oil, Gas & Energy; Palm Oil & Rubber; Agriculture; Financial Services; Wholesale & Retail; Healthcare; Education; Tourism; Business Services; Communications Content & Infrastructure; and Greater Kuala Lumpur/Klang Valley.
Of the above new investments, 92% are expected to come from the corporate sector and 8% from the Government. In addition, 73% are expected to be from domestic direct investment (DDI) and the remaining 27% from foreign direct investment (FDI).
Raise Gross National Income (GNI) to MYR1.7tr, an incremental MYR0.9tr from MYR771b in 2010, and GNI per capita to USD15,000 by 2020.
Generate 3.3m new jobs.
GTP was launched in Apr 2009 to improve Government performance and delivery in six National Key Result Areas (NKRAs) – Crime; Urban Public Transport; Rural Basic Infrastructure; Education; Low Income Households (raising their living standards); and Corruption. In June 2011, the Government added Cost of Living as an additional (seventh) NKRA. SRI was announced in Jul 2011. There are 51 measures in total, of which 14 are embedded directly into their “natural homes” under the GTP and ETP, while the remaining 37 are grouped into six implementation clusters i.e. International Standards & Liberalisation (9 policies); Human Capital Development (9 policies); Public Service Delivery (7 policies); Public Finance (5 policies); Government Role in Business (5 policies); and Narrowing Disparities (2 policies). We attended the briefing on Friday, 24 Apr 2015. The information was embargoed until 8.30pm, Tuesday, 28 Apr 2015, hence the reason for this report being published today. The briefing kickstarted with the “National Transformation Programme Score Card” by Dato’ Sri Idris Jala, Minister in the Prime Minister’s Department and CEO of PEMANDU. Another Minister at Prime Minister’s Department, Dato’ Sri Abdul Wahid Omar, presented on “Income Disparity and Inclusiveness”. There were also presentations by, and panel sessions with:
CEO of the Land Public Transportation Commission (SPAD), Mr. Mohd Nur Ismal Mohamed Kamal, on public transportation.
Mr Adif Zulkifli, Senior Vice President, Corporate Strategy & Risk, PETRONAS and Tan Sri Dr Ngau Boon Keat, Executive Chairman, Dialog Group Berhad, on the oil & gas industry.
World Bank and private sector economists.
Apr 29, 2015
2
Malaysia : NTP Report Cards Quantitatively, ETP is in line with key targets The key takeaways and highlights from ETP are on investment trends, especially private/corporate investment.
Growing share of private/corporate investment to GDP. Private investment to total investment ratio rose to 64.1% in 2014 from 54.7% in 2010. Correspondingly, public investment to GDP ratio fell to 35.9% from 45.3%. We also estimated the total investment shares of corporate investment (including GLCs) and Government investment (proxied by the development spending of Federal, State and Local Governments as well as Statutory Bodies). The GDP share of corporate investment increased to 79.4% in 2014 from 60.4% in 2010, while that of the Federal Government fell to 20.6% from 39.6%.
Driven mainly by DDI. Of the total actual investment in the economy between 2011 and 2014, we calculated that 85% were DDI and 15% were FDI. However, MIDA’s data showed total approved investments between 2011 and 2014 were MYR777.7b, equivalent to 55.7% of the targeted MYR1.4b new investments in the 10-year period up to 2020, with 69.8% of the approved investments in 2011-2014 were DDI and 30.2% were FDI. Taking the approved investment as lead indicator of actual investment, then the ETP’s target of 73%:27% split between DDI and FDI appears to be on track.
GNI was MYR1.03tr in 2014, 60.7% of the MYR1.7tr target by 2020. It increased by MYR262b between 2010 and 2014 i.e. 28% of the MYR0.9tr incremental GNI targeted between 2010 and 2020. Against the 6% p.a. target GNI growth, actual GNI growth in 2010-2014 was 7.6% p.a.
GNI per capita reached USD10,426 last year vs USD10,106 in 2013 and USD8,373 in 2010. This is 69.5% of the USD15,000 target by 2020.
A total of 1.8m jobs were created between 2010 and 2014, and 1.5m of these were in the NKEAs. The total job created is 54.5% of the targeted 3.3m increase in employment, while the increase in employment within the NKEAs is 45.5% of the target.
Malaysia: Real Private & Public Expenditures (MYRb)
Malaysia: Real Private & Public Expenditures (% of GDP)
Sources: BNM, Department of Statistics
Sources: BNM, Department of Statistics
Apr 29, 2015
3
Malaysia : NTP Report Cards Malaysia: Real Private & Public Expenditures (% chg)
Malaysia: Real Private Consumption, Private Investment, Public Consumption & Public Investments (% chg)
Sources: BNM, Department of Statistics
Sources: BNM, Department of Statistics
Malaysia: Malaysia: Real Private Consumption, Private Investment, Public Consumption & Public Investments (% of GDP)
Malaysia: Real Private Investment & Public Investments (MYRb)
Sources: BNM, Department of Statistics
Sources: BNM, Department of Statistics
Malaysia: Real Private & Public Investments (% of Total Investment)
Malaysia: Domestic Direct Investment & Foreign Direct Investment (DDI & FDI as % of Total Investment)
Sources: BNM, Department of Statistics
Sources: BNM, Department of Statistics, Maybank KE
Apr 29, 2015
4
Malaysia : NTP Report Cards Malaysia: GNI per Capita (MYR)
Employment (m)
Sources: BNM, Department of Statistics, PEMANDU
Source: Department of Statistics, PEMANDU
Highlights and milestones on key ETP investment projects As mentioned, the briefing includes sessions with key ETP stakeholders, namely from the public transportation sector and oil & gas industry.
KVMRT Phase 1 is almost two-thirds completed, and public display of KVMRT Phase 2 next month. The Phase 1 of the Klang Valley Mass Rapid Transit (KVMRT1 - Sungai Buloh-Kajang) is 61.9% completed, with the Sungai Buloh - Jalan Semantan part to be finished by end-2016 and the Jalan Semantan – Kajang stretch to be done by July 2017. Meanwhile, the public display of Phase 2 of KVMRT (Sungai BulohSerdang-Putrajaya) will start next month for around 3 months. If there are no objections, tender and procurement process can begin afterwards and construction is expected to begin by 2Q 2016 at the earliest.
KL-Singapore High-Speed Rail is now on “Phase 2A”. The project was given the nod by the Government last week, including the establishment of MyHSR Corp Sdn Bhd under the Ministry of Finance. According to SPAD CEO, it is now at “Phase 2A” i.e. finalising details of the bilateral agreement between Malaysia and Singapore covering various aspects of the project such as designs, financing, governance, operations, commercial, technical specifications, regulatory functions as well as immigration and security. Once this is done, the project can move on to tendering process which is expected to take about one year before actual construction can begin. Seven stations have been identified i.e. Kuala Lumpur and Putrajaya in Klang Valley; Seremban in Negri Sembilan; Ayer Keroh in Melaka; and Muar, Batu Pahat and Nusajaya in Johor. In addition, SPAD CEO said the train’s speed should be around 300km/h if the travel time between KL-Singapore is to be around 90 minutes. On the value of the projects, SPAD CEO informed this cannot be made public in view of the tender process to award the project’s engineering, procurement and construction (EPC) contracts.
“Cost management” is the key word to ensure viability of ETPrelated oil & gas projects. Petronas and the oil & gas industry are currently looking at means and ways to be cost effective and efficient to stay resilient in the low crude oil price environment and to be able to undertake value-adding and viable projects. These include utilization of low-cost drilling technology, joint-sourcing and procurement, contract innovations and stock management (“just-in-
Apr 29, 2015
5
Malaysia : NTP Report Cards time” going forward versus “just-in-case” previously). Underscoring the point on cost management, Petronas and the industry players are reviving the “Cost Reduction Alliance” initiative that was in place back in the early-90s. On ETP-related projects, the three key Entry Point Projects (EPPs) under the oil & gas NKEAs are Enhanced Oil recovery (EOR), Small Fields Development and Exploration Intensification. 15 EOR projects were awarded thus far involving 220m barrels of oil, but not all have started due to on-going cost reviews which may result in delays of up to 2 years. On Small Fields Development, 6 Risk Service Contracts (RSCs) were awarded and 5 have been implemented. On Exploration Intensification, 11 wells with 1.7b barrels of oils were discovered last year, bringing the total since 2011 to 30-35 wells and 4.4b barrels.
Also focusing on the “trickle down” effect Quality vs Quantity. In our previous report on the progress and update of NTP almost a year ago, we argued that the focus of the country’s transformation programme should start to shift towards the “qualitative” aspects, namely “Sustainability” and “Inclusivity” on top of the “High Income Economy” target, which is by and large “quantitative”. To this end, the presentation and briefing by Dato’ Sri Abdul Wahid Omar on “Income Disparity and Inclusiveness” is both welcomed and timely. Focusing on the Bottom-40% (B40) of the income group. B40 is defined as household with monthly income of less than MYR3,579. This group also consists of four segments:
Hardcore Poor (monthly income < Food-Based Poverty Income Level (PLI) of MYR590)
Poor (monthly income < PLI of MYR940)
Vulnerable (PLI < monthly income < 2.5 x PLI)
Aspirational (2.5 x PLI < monthly income < National Mean Income).
Other salient points on the B40 profile include:
Average monthly household income of MYR2,312.
64% of the B40 group are those with salaried jobs or wage earners and 35.1% are self-employed.
2.77m households (total Malaysia: 7m households), with the majority in the urban areas i.e. 1.72m or 62.6% compare with 1.05m in rural areas.
25.5% of the B40 household heads aged 60 years old and above.
Overall, B40 households consist of 73.3% Bumiputera, 18% Chinese and 8.3% Indian.
Low education level i.e. 92% with SPM or lower qualification.
(Note: Top-20% or T20 is define as household with monthly income of more than MYR8,079, while the Middle-40% or M40 are household with monthly income of between MYR3,579 and MYR8,079)
Apr 29, 2015
6
Malaysia : NTP Report Cards NTP’s “trickle down” effect on B40 seen, in view of the following observations:
Increase in monthly household income, including the Bottom 40% (B40). The mean and median monthly household income increased to MYR5,919 and MYR4,258 respectively in 2014 from MYR5,000 and MYR3,626 in 2012. From the 2009 levels of MYR4,025 and MYR2,830 before NTP was launched, the mean and median monthly household income rose by 8% p.a. and 8.5% p.a. B40’s average monthly household income rose to MYR2,312 in 2014 from MYR1,847 in 2012 and MYR1,440 in 2009, representing a faster CAGR of 9.5% p.a.
Malaysia: Household Income (MYR)
Income Share of B40 (%)
Source: Source: Department of Statistics' Household Income & Expenditure Survey
Source: Source: Department of Statistics' Household Income & Expenditure Survey
Resulting in B40’s higher share of total income of 15.6% in 2014, up from 14.3% in 2009 before NTP began, which was little changed from 14% a decade earlier back in 1999.
In turn, narrowing the income gap between B40 and T20. The income disparity ratio between T20 and B40 fell to 6.2x in 2014 compared with 6.9x in 2009 and 7.3x back in 1999. In contrast, the gap between T20 and M40 (Middle 40% of income group) remain relatively unchanged at 2.8x last year compared with 2.8x in 2009 and 2.7x in 1999.
Narrowing Income Gap between Bottom 40% (B40) and Top 20% (T20) 2009 Mean Income (MYR) CAGR (%) Median Income (MYR) CAGR (%) Mean Income Disparity Ratio
2014
B40
T20
B40
T20
1,440
9,987
2,312
14,293
-
-
9.9
7.4
1,440
8,009
2,358
11,545
-
10.4
1 : 6.94
7.6 1 : 6.18
Share of Total Income (%) 14.3 49.6 15.6 48.3 Source: Department of Statistics' Household Income & Expenditure Survey (2014 data are preliminary)
Apr 29, 2015
7
Malaysia : NTP Report Cards
And reducing the Gini coefficient. The narrowing of the income gap between T20 and B40 resulted in further improvement in the country’s Gini coefficient – a measure of income inequality. It declined to a new record low of 0.42 in 2014 from 0.43 in 2012 and 0.44 in 2009. In particular, the rural Gini coefficient dropped to 0.37 last year from 0.41 in 2009. Besides being lower than the urban Gini coefficient (2014: 0.41; 2009/2012: 0.42), the fall in ratio for rural is also faster than that of the urban.
Malaysia: Mean Monthly Household Income (MYR)
Malaysia: Gini Coefficient – Nationwide, Urban & Rural
Source: EPU, Department of Statistics
Gini coefficient measures the degree of equality/inequality in income distribution. A figure of “1.0”/“0” indicates perfect inequality/equality. Falling/Rising trend indicates rising/falling equality or conversely falling/rising inequality. Sources: EPU, Department of Statistics
Malaysia: Gini Coefficient – Nationwide, Urban & Rural
Gini coefficient: Global Comparison
Source: Department of Statistics
Source: World Bank
Apr 29, 2015
8
Malaysia : NTP Report Cards Budgetary discipline achievement in 2014
&
fiscal
reforms
another
key
The main agenda for SRI in 2014 was strengthening further the Government finance as the Government reiterated its commitment to steadily pare down budget deficit to achieve a balanced budget by 2020. Steady decline in budget deficit since 2010. The Government continuously brings down the budget deficit (% of GDP) from 6.7% in 2009 to 5.6% in 2010, 4.8% in 2011, 4.5% in 2012; 3.9% in 2013 and 3.5% in 2014, keeping it on track to achieve the target of balanced budget by 2020. This year, as a result of the plunge in crude oil price, the budget deficit target was revised to 3.2% of GDP from 3.0% of GDP due to the lower oil & gasrelated revenues forcing the Government to cut its operating expenditure. Slowing Government debt growth capping the ratio to GDP at no more than 55%. The steady reduction in budget deficit resulted in slowing Government debt growth to 5.4% in 2014 from the 18.3% surge in 2009, and the slowest since 1997. This in turn helped to contain Government debt to GDP within the target of 55% of GDP, with last year’s ratio of 54.5%, down for the first time since the jump to 50.8% in 2009 from 39.8% in 2008 which then steadily climbed to 54.7% in 2013. Underpinned by subsidy rationalization and tax reforms:
Restoration of spending discipline as per the smaller 2014 Supplementary Budget of MYR6.3b, compared with the Government over-spending versus the original budgets that averaged MYR15.6b p.a. during 2010-2013.
Subsidy rationalization and reforms since Sep 2013, culminating into the removal of sugar subsidies in Oct 2013 and the abolition of fuel subsides in Dec 2014 as the Government adopted the “managed float” retail fuel price mechanism, replacing the “blanket subsidies”. This materially helped the Government to cut 2014 Supplementary Budget.
Reduction in the oil & gas related revenues as percentage of total revenues to 29.7% as of 2014 form the peak of 40.3% in 2009.
Implementation of GST on 1 Apr 2015, replacing the Sales Tax and the Services Tax.
Malaysia: Fiscal Deficit (% of GDP)
Malaysia: Government Total Spending – Original Budget vs Actual (MYRm)
Sources: BNM, Ministry of Finance
Sources: BNM, Ministry of Finance
Apr 29, 2015
9
Malaysia : NTP Report Cards Malaysia: Government Debt & Government-Guaranteed Debt or Contingent Liability (% chg)
Malaysia: Government Debt & Government-Guaranteed Debt or Contingent Liability (% of GDP)
Sources: BNM, Ministry of Finance
Sources: BNM, Ministry of Finance
Malaysia: Oil & gas related revenues
Malaysia: Savings from Subsidy Rationalisation since Sep 2013 and Abolition of Fuel Subsidies in Dec 2014 (MYRb)
Sources: PEMANDU Annual Report 2014
Sources: PEMANDU, EPU, Ministry of Finance, Media Reports, Maybank KE estimate
Our thoughts and views Investment trends on track thus far, but challenging 2015 as 2020 draws closer. In particular, we sense that investment activities started this year very cautiously, judging from the weakness in corporate sector financing activities, as per the trends in the PDS and IPO issuances as well as the banking system’s business loans. Meanwhile, although the MIDA’s total approved investment hit record high of MYR235.9b last year, 44% or MYR102.9b were in the primary sector (of which 90-95% of the approved investment in the sector are in oil & gas) and real estate sector, which are facing challenging operating environment. Excluding these sectors, MIDA itself expects manufacturing and services investment approvals this year to drop to MYR120.5b (2014: MYR133.0b). In this regards, implementation of Government gross development spending allocation (which was not cut but maintained at MYR48.5b, up 23% from actual spending in 2014, despite the revised Budget 2015) and major infrastructure projects become vital in sustaining investment momentum.
Apr 29, 2015
10
Malaysia : NTP Report Cards
Malaysia: Approved Total Investment (Annual, MYRb)
Malaysia: Approved Total Investment ex-Real Estate & Primary Sector which is 90-95% in Oil & Gas (Annual, MYRb) 145
133.0
130
109.6
70
105.2 61.1
100 85
83.5
85.8
88.7
25.9
25.9
77.8
64.1 30.6
34.1
40 46.0
59.9
2006
71.9
62.8 47.2
56.1 41.1
32.6
10 (5)
64.5
64.4
53.5
66.7
37.5
55
25
120.5
116.5
115
2007
2008 2009 Manufacturing
2010
2011
56.0
52.1
2012 2013 Services
2014
2015E
Source: MIDA
Source: MIDA
Petronas Capex (Annual, MYRb)
Corporate Sector Financing – Private Debt Securities (PDS) Issuance (MYRm)
Source: Petronas
Source: BNM
Corporate Sector Financing – Increase in Banking System’s Business Loans Outstanding (MYRm)
Corporate Sector Financing – IPO (MYRm)
Source: BNM
Source: BNM
Apr 29, 2015
11
Malaysia : NTP Report Cards Further fiscal consolidation to achieve balanced budget target requires mixture of revenues and spending measures. Amid the low crude oil price environment that caused the reset in Budget 2015 deficit target, there are concerns that achieving a balanced budget by 2020 would be a tall order. We are of the opinion that the implementation of GST is timely by providing a broad-based source of tax revenues to offset the diminishing share of oil & gas related income to the Government coffers. This is also in view of the proposed cap Petronas dividend to Government at 30% of Petronas’ profits (between 50% to 85% of Petronas pre-tax profits over the past 10 years). Moreover, there are also the potential revenue gains and enhancements from enforcement. Tax audit by the Inland Revenue Board (IRB) and the Royal Customs can in fact be facilitated and strengthened going forward with GST implementation. On spending, there are rooms for improvements to address leakages and wastages arising from the findings from the Auditor General Reports and the Parliament’s Public Account Committee (PAC) inquiries. Affirmative action policy to stay, focusing on B40 to raise income, quality of life and opportunities. Given the apparent focus on addressing income disparity and inequality, we believe the affirmative action policy will stay, primarily focusing on B40. An immediate measure is increasing the Minimum Wage, on top of the targeted cash transfer (BR1M) which is continued this year as part of the GTS offset package with higher amount and more recipients. Minimum Wage that was set in 2013 at MYR900 per month for Peninsular Malaysia and MYR800 per month East Malaysia (Sabah & Sarawak), and meant to be reviewed every two years. As it is, these figures are lower than the national Poverty Line Income (PLI) of MYR940! The policy focus and measures to strengthen the trickle down effect of NTP should also be more on the “urban B40” as well as balancing between physical development (basic amenities, housing) and human capital development (education, training, entrepreneurship).
Malaysia: BR1M
Sources: Ministry of Finance, Media Reports
Apr 29, 2015
12
Malaysia : NTP Report Cards Appendix 1: ETP – Targets & Achievements ETP – 2014 Key Performance Indicators – Greater Kuala Lumpur / Klang Valley No. KPI
Target
Actual
Actual vs Target (%)
Number of Letter of Intents concluded for MNCs to set up Regional Headquarters/Regional Hub activity in GKL
13
14
108
Employment generated
600
1,241
207
Realised investment from MNCs since 2011 (MYR m)
236
377.49
160
Number of approved application under Returning Expert Program
1200
604
50
Number of approved application under Residence Pass-Talent Program
1000
1,007
101
New JPA scholars under STAR Program
2000
1,006
50
Number of internship places filled under Structured Internship Programme
12000
12,852
107
Number of new participants in GEMS & Upskilling programme
7,000
3,622
52
EPP3
Connecting KL to Singapore via a High Speed Rail system: (i) Securing EC’s approval on contracting model and project Structure (ii) Completion of the Socio-Economic Development Action Plan (SEDAP) Vision Document
100%
100%
100
EPP4
Elevated: Percentage completion of piers
90%
90%
100
Elevated: Percentage completion of elevated guideway
80%
59%
74
Underground: Progress completion of tunnel built
100%
100%
100%
EPP1
EPP2
EPP5
EPP6
Underground: Progress completion of station excavation
80%
88%
131
Lost time number of accidents per million man hours worked
2.0%
1.64%
100
Compliance of wastewater discharge quality of completed Waste Water Treatment Plant (WWTP): Pasar Harian Selayang, Pasar Jln Kelang Lama & Pasar Air Panas
100%
98.6%
99
Percentage reduction in oil & grease levels from the installed oil & grease traps (KPKT / JKT (MPS / MPAJ)
99%
99.5%
101
Percentage reduction in oil & grease levels from the installed oil & grease traps KWP / DBKL (JKAS)
99%
99.81%
101
River of Life (Phase 1): Percentage completion of construction works on Precint 7 river beautification
16%
4.22%
26
River of Life (Phase 2): Percentage completion of river beautification at One Malaysia Park (Detailed Design)
100%
95%
95%
Study on Best Potential Development for Freezed Government Land along River Beautification Corridor
40%
40%
100
Percentage completion of 6 construction packages: (i) Package G06 (ii) Package G07 (iii) Package B21 (iv)Package B22 (v) Package B20 (vi) Package 2
73%
78%
117
Reduction of rubbish collected at log booms at SMART (L1 & L2) as compared to 2010 (Baseline: 0%)
80%
73.70%
92
Construction of 14 packages for river cleaning
95%
99%
200
Results from water quality monitoring stations meets river Water Quality Index
57%
63%
100
Percentage of planning and design of interceptor system at Precint 7
100%
91%
91
Number of trees planted
30,000
39,636
132
Number of trees funded by the private Sector
2,500
3,950
158
Number of trees tagged under Global Positioning Index (GPI)
19,206
18,218
95
Number of trees maintained
57,618
54,413
94
Source: ETP Annual Report 2014
Apr 29, 2015
13
Malaysia : NTP Report Cards
ETP – 2014 Key Performance Indicators – Greater Kuala Lumpur / Klang Valley (Con’t) No. KPI Target
Actual
EPP7
52%
55.32%
Actual vs Target (%) 106
24,000
26,876
112
Countdown Clock Heritage Trails: Number of local and international tourists visiting Medan Pasar: Change of suitable retail operators
3
2
67
Medan Pasar: Major events conducted
3
4
133
EPP8
Upgrading of non-covered pedestrian network system (km)
12
12.7
106
EPP9
Setting up an anaerobic digestion facility for food waste: Cabinet’s decision on a Joint-Cabinet Paper between the Ministry of Housing, Natural Resources Environments (NRE) or the Ministry of Energy, Green Technology and Water
100%
60%
60
Tonnage of construction and demolition waste processed in Sg Kertas facility (mt)
2,700
2,446
91
Construction of piping network at Petaling Jaya Utara (Package D47): Percentage of construction progress
45%
48%
107
Regionalisation of Sewerage Treatment Lot 130 Klang: percentage of construction progress
100%
99%
96
Langat Centralised Sewage Treatment Plant & Network: Complete Preliminary Design
100%
100%
100
Sewer Rehabilitation Projects in Kuala Lumpur, Shah Alam, Subang Jaya and Petaling Jaya (Package G08): Construction progress (cumulative)
99%
94%
80
Regionalisation of Sewerage Treatment Plants (STP) in Kajang 2: Construction progress (cumulative)
63%
65.95%
113
BO3
103% Source: ETP Annual Report 2014 Note: BO = Business Opportunity
Apr 29, 2015
14
Malaysia : NTP Report Cards
ETP – Critical targets for 2015 – Greater Kuala Lumpur / Klang Valley Greater Kuala Lumpur / Klang Valley Incremental GNI Impact Additional jobs MNC Attraction Letter of Intents concluded for MNCs to set up
2020 Target MYR190 b 0.32 m
Regional Headquarters/Regional Hub activity in GKL is targeted at 15
Talent Attraction
The Returning Expert Programme aims to see 1,200 expats return to Malaysia.
The STAR Programme aspires to have 2,000 JPA Scholars
70% of issuance of Employment Pass Process to be within five working days
High Speed Rail (HSR)
100% completion of approval for Malaysian alignment
My Rapid Transit 80% of Tunnels and Station Trackway handed over to System Works Contractor
100% of structural completion of 12 stations for Phase 1 (Sg. Buloh - Semantan) 100% of track laid for Phase 1 (Sg. Buloh - Semantan)
15 trains delivered and tested at Sg Buloh Depot
River of Life
Implementation of Bunus STP to achieve 5% construction progress=
Implementation of Jinjang-Kepong STP to achieve 3% construction progress
100% Compliance of wastewater discharge quality from all completed Waste Water Treatment Plant (WWTP) to Water Quality Index ≥76.5 (Class II)
Greening KL 30,000 trees tagged under Global Positioning Index
100% Completion of Waste Water Treatment Plant (WWTP) construction in Pasar Borong Kuala Lumpur
100% of effluent from all 101 communal grease traps installed to comply with the National Water Quality Standards (fat, oil and grease)
80% Reduction of rubbish collected at SMART ( L1 & L2) log booms as compared to 2010 result (0%)
Water quality results from three selected water quality monitoring stations meet WQI ≥ 60
Water quality results from five selected RWTP meet WQI ≥ 76.5 (Class II)
50% Construction progress of interceptor system at Precinct 7
50% of construction progress for River Beautification works (Phase1)
100% completion of Policy Framework arising from the Market & Feasibility Study of Freezed Government Land along RB Corridor
Iconic Places Heritage Trail 5: 45% completion of the project Pedestrian Walkway 100% completion of the outcome evaluation report for walkways constructed between 2011 - 2014 Solid Waste Management 100% completion of detailed Designing of Leachate Treatment System in Taman Beringin
Increase the recycling rate: Regulation on separation at source to be amended by August
Completion of Gazettement of land for Anaerobic Digestion facility
Completion of Gazettement of regulation on Construction & Demolition Plant
Source: ETP Annual Report 2014
Apr 29, 2015
15
Malaysia : NTP Report Cards ETP – 2014 Key Performance Indicators – Oil, Gas & Energy No.
KPI
EPP1
Addition Resources – Million Stock Tank Barrel (MMstb)
15
37.9
Actual vs Target (%) 253
EPP2
Total Production from Marginal Field (Oil and Gas)(Kboe/d)
60
87.5
146
Production from Marginal Field (Oil) - Thousand Barrels per Day (kbd)
40
58.3
146
120.3
175.5
146
30
29
97
8.7
9.17
105
Production from Marginal Field [Gas] - Million Standard Cubic Feet Per Day (MMscfd) Number of explored wells
EPP3
Cumulative committed capacity for oil storage facilities (in million cubic metres)
EPP4
Target
Actual
Number of oil trading companies based in Malaysia
EPP5
EPP6
6
9
150
Implementation of third party access preparation of four key legal frameworks (enablers): 1. Amendment of Gas Supply Act 2. Third Party Access Code 3. Tariff Structure 4. Competition Guideline
100%
90%
90
Pengerang - Regasification Terminal 2 FID
100%
100%
100
Gas Pricing and Marketing – Finalise GSA at market price with RAPID & Pengerang COGEN Power
100%
90%
90
Amount of investment made by Oil & Gas Supplier, Services and Equipment companies (MYR m)
1,500
1,691
113
Realisation of investment made by Oil & Gas Supplier, Services and Equipment companies (MYR m) in year 2014
1,500
826.2
55
EPP7
Number of first time bidders (companies) for international projects in new market segments (includes new countries or new segments within the same country)
6
6
100
EPP8
Number of MNCs bringing their global operations to Malaysia or mergers/JVs between local OGSE companies and global MNCs
6
6
100
EPP10
Additional amount of grid-connected renewable energy power plants installed capacity (MW)
250
245.2
98
EPP11
Formulation of Nuclear Power Infrastructure Development Plan (NPIDP)
100%
97%
97
Enactment of a new comprehensive Atomic Energy Regulatory Act
100%
90%
90
Establishment of Malaysia Atomic Energy Regulator Commission (MAERC): Concept of MAERC Governance Structure
100%
90%
90
Realisation of PIPC Master Plan - PMO structure set up and Operationalized
100%
100%
100
Realisation of PIPC Master Plan - Formation of Development Corporation structure
100%
100%
100
Realisation of PIPC Master Plan - Completion of PIPC infrastructure projects planned for 2014
100%
49.7%
50
Completion of internal & external Sipitang Oil and Gas Industrial Park (SOGIP) infrastructure
100%
77.8%
78
EPP13
108% Source: ETP Annual Report 2014
ETP – Critical targets for 2015 – Oil, Gas & Energy Oil, Gas and Energy 2020 Target Incremental GNI Impact MYR 131.4b Additional jobs 52,300 Roll-out of Euro4M RON97 and gazetting of Euro5 for petrol and diesel
Implementation of third party access for gas supply
Increase in additional power generated from renewable sources
Increase in investment by oil & gas supplier and services companies in Malaysia
Source: ETP Annual Report 2014
Apr 29, 2015
16
Malaysia : NTP Report Cards
ETP – 2014 Key Performing Indicators – Wholesale And Retail No.
KPI
EPP1
Number of new hypermarkets Number of new superstores
Target
Actual
5 6
5 6
Actual vs Target (%) 100 100
EPP2
Number of establishments modernised under the TUKAR Programme
300
305
102
EPP4
Number of workshops modernized - under the ATOM programme
200
208
104
EPP5
Utilisation of Retail Space in Oasis Square Makan Bazaar
70%
89%
100
EPP9
Value increase of Cost, Insurance and Freight (CIF) for 328 selected imported finished products (MYR b)
7.037
6.972
99
EPP10
Mines Waterfront Business Suites (MWBS): Percentage of completion of building structure level
20%
27%
135
EPP11
Number of sub-sectors involved in 1Malaysia Unified Sale together with Tourism Malaysia
60
60
100
EPP12
Utilisation of retail space of Gateway Mall at KLIA2
70%
76%
100
Utilisation of retail space of KLIA2
70%
98%
100 104%
Source: ETP Annual Report 20134
ETP – Critical targets for 2015 – Wholesale And Retail Wholesale and Retail Incremental GNI Impact Additional jobs
EPP1: Six new hypermarkets and five new superstores
EPP2: 300 TUKAR stores
EPP4: 180 ATOM workshops
EPP5: One new Makan Bazaar site
EPP9: 5% increase of CIF value from 2014
EPP11: 60 subsectors participating in 1Malaysia Unified Sale
EPP13: 20% progress development of Oasis Autocity
2020 Target MYR 55.4b 454,190
Source: ETP Annual Report 2014
Apr 29, 2015
17
Malaysia : NTP Report Cards
ETP – 2014 Key Performing Indicators – Financial Services No.
KPI
EPP1
Target
Actual
Actual vs Target (%)
Launch of crowdfunding platform
100%
80%
80
Increase in value of new listings. Target Market Capitalisation (MYR b)
18
17.33
96
Number of new products and offerings
5
6
120
EPP5
Percentage completion of framework for the provision of basic life insurance and family takaful products through direct channel
100%
80%
80
EPP6
Investor education and awareness programme on Private retirement Scheme (PRS): (i) Asset under management of PRS (MYR m) (ii) Number of contributors
100%
250.70%
251
EPP9 & 10
Percentage completion for the ASEAN Banking Integration Framework (ABIF) via ABIF taskforce for endorsement at the ASEAN Finance Ministers’ meeting
100%
100%
100 121%
Source: ETP Annual Report 2014
ETP – Critical targets for 2015 – Financial Services Financial Services Incremental GNI Impact Additional jobs
2020 Target MYR 121.5b 275,400
Widening financing avenues - Launch of Islamic equity crowdfunding platform
Increase in value of new listings
New products and offerings for Malaysia’s equity markets
Amendments to the Financial Institutions Act 2002 in transforming the development of DFI
Conversion of Composite Insurance and Takaful Licences Under the Financial Services Act 2013 (FSA) and Islamic
Financial Services Act 2013 (IFSA)
Source: ETP Annual Report 2014
Apr 29, 2015
18
Malaysia : NTP Report Cards
ETP – 2014 Key Performing Indicators – Palm Oil And Rubber No.
KPI
Target
Actual
Actual vs Target (%)
EPP1
i. Area of approved new planting and replanting by smallholders; ii. Area of implemented new planting and replanting by smallholders
100%
105.40%
105
EPP2
Total FFB sold to mills by all cooperatives
6,000 MT
14,215.11 MT
New area of plantations/smallholders complying with MPOB CoGAP/ NSGAP/ RSPO/ MSPO (ha)
220,000
239,689.43
109
National Average Yield (mt/ha/yr)
19.971
18.63
National FFB Production (MT)
98 mil
96.07 mil
93 98
237
EPP3
Number of CANTAS taken up by plantations and smallholders
600
390
65
EPP4
Number of Palm Oil Mills certified by MPOB Code of Practice and other international certification
25
25
100
21.05% 100%
20.62% 112.25%
98 112
Progress of construction of two biogas plants to be connected to the grid or external users
100%
150%
150
EPP6
Take-up rate for the oleo derivatives and bio-based acquisition funds
100%
83.03%
83
EPP8
Take up rate of funds for food and health-based products
100%
100%
100
EPP9.1
Area of replanting and new planting by rubber smallholders (ha)
50,000
52,151
104
Malaysian Export of Natural Rubber and Compound Rubber (mil mt)
1.4
1.22
87 89
Increase of National Oil Extraction Rate (OER) Progress of construction of eight biogas plants
EPP5
EPP9.2
Malaysian Export Revenue from Latex Products (MYR b)
13.5
12.03
EPP9.3
Production of Ekoprena and Pureprena (mt)
1,000
717
72 106%
Source: ETP Annual Report 2014
ETP – Critical targets for 2015 – Palm Oil And Rubber Palm Oil and Rubber 2020 Target Incremental GNI Impact MYR 230.b (Inclusive Rubber) Additional jobs 41,600 Palm Oil Approved and implemented area of replanting and new planting by independent smallholders to 8,550 hectares and 20,000 hectares respectively
Ensure that 10 cooperatives are able to sell a cumulative minimum of 12,000 metric tonnes of fresh fruit bunches
Potential Managed Smallholding Programme which provides an alternative solution for independent smallholders who are not operationalising their own plantations
Potential CPO cess collection based on oil extraction rate of mill
Encourage uptake of connection to the Feed-in Tariff system by biogas plants
Potential commercialisation of Bio-CNG plants
Developing 11th Malaysia Plan fiscal incentives and MIDA’s Domestic Investment Strategic Fund for downstream palm oil activities
Rubber
Area of replanting and new planting of rubber by independent smallholders to 24,000 hectares
Improving the export of natural rubber and compound rubber to 1.4 million metric tonnes
Improvements in implementation and enforcement of dry rubber standards and regulations
Source: ETP Annual Report 2014
Apr 29, 2015
19
Malaysia : NTP Report Cards
ETP – 2014 Key Performing Indicators – Tourism No.
KPI
EPP1
Total tourist shopping spend per arrival (MYR per tourist)
EPP2
Retail revenue per sq ft (MYR/sq ft) Establishment of second Outlet Centre in Malaysia: Percentage of construction completed (Construction completed in 2013: 20%)
EPP3
Target
Actual
Actual vs Target (%)
924
787
85
1,600
1,597
100
80%
80%
100
700,000
875,694
125
EPP4
Number of visitors to Malaysia Mega Biodiversity Hub (MMBH) sites
EPP4
RDC conceptual design and implementation plan to be submitted by private sector
100%
100%
100
EPP6
Number of international cruise calls at six terminals (Port Klang, Penang, Langkawi, Malacca, Kota Kinabalu,Kuching)
340
356
105
63,400
110,899
175
1
3
300
Number of spa therapists trained/undergoing training
250
250
100
Revenue generated from golf tourism (MYR m)
EPP7
Number of international tourists at International Events supported by MyCEB Number of approved designated entertainment & lifestyle premise
EPP8 EPP9a EPP9b
310
312
101
EPP10
Number of delegate days for events secured (international delegates only)
230,000
362,280
158
EPP11
Increment of weekly seats to identified priority countries: China, Japan, Taiwan, India, Australia and South Korea
22,500
19,223
85
EPP12
Number of new 4-star & 5-star hotel rooms
4,000
4,039
101 126%
Source: ETP Annual Report 2014
ETP – Critical targets for 2015 – Tourism Tourism Incremental GNI Impact Additional jobs Completion of second Outlet Centre, Mitsui Outlet Park KLIA
2020 Target MYR 66.7b 497,000
Commencement of Rainforest Discovery Centre construction
Completion of Malaysia Eye; first phase of Melaka Gateway
Nationwide facilitation of international cruise calls to Malaysia
Increased throughput of trained therapists from Centres of Excellence
Concerted promotional campaigns to targeted medium-haul countries
Development of more 4-star and 5-star hotels
Source: ETP Annual Report 2014
Apr 29, 2015
20
Malaysia : NTP Report Cards
ETP – 2014 Key Performing Indicators – Electrical And Electronics No.
Target
Actual
Number of E&E companies using Wafer Testing Lab
5
9
Actual vs Target (%) 180
Utilisation of Wafer Testing Lab
60
66
110
Set up of Failure Analysis Level 3 lab
100%
100%
100
Completion of Waste Treatment Plant
100%
90%
90
EPP3
Completion of engineering samples for Green Motion Controller
100%
100%
100
100%
118%
EPP10
Solid state lighting (SSL) companies penetrating global market: (i) Total annual sales from Green/ SSL Programme of local LED companies (MYR m) (ii) Number of new LED products by the Green/SSL Programme to be internationally certified
(i) 80 (ii) 20
(i) 84.2 (ii) 26
EPP11
Enhancing T&M local ecosystem:New product introduction
20
20
100
100%
100%
100
25
20
80
Completion of AMD project with appointment of three local M&E automation companies
100%
99%
99
Number of new embedded systems projects approved under Digital Malaysia roadmap
4
4
100
Number of new embedded systems technology partners identified and accepted under Digital Malaysia Roadmap
2
2
100
100%
150%
(i) 50% (ii) 1
(i) 100% (ii) 1
100%
75%
75
100
121
121
Producing Eco-Industrial products: (i) Eco-industrial design projects utilising EIDC (ii) Joint programmes with universities
100% (i) 3 (ii) 2
100% (i) 3 (ii) 2
100
Realisation of approved investments since 2011
60%
60%
100
Total approved investment for E&E (MYR b)
5.1
8.9
175
Approved high quality NKEA E&E projects
18
11
61
QAV Penang utilisation: Quadrupling the number of models to be tested as per international standards
48
48
100
Set up and test lab accreditation of QAV LED & Automotive Testing Facility in Subang, Selangor
100%
33%
33
EPP1
KPI
Implementation of Agilent Life Science programme with one local design partner EPP13
EPP17
Number of new automation projects by SMEs in system design, prototyping, proof-of-concept and system customisation at NI-AIN
Number of companies approved to manufacture batteries for electric vehicle EPP18
(i) Percentage of construction for Li-ion battery factory (MAI) (ii) Licence approval for EV bus manufacturer (MAI) Development and roll out of thermal management technology for LED application Utilisation of Eco-Industrial Design Centre (EIDC): Rapid prototyping services provided
118
150
104% Source: ETP Annual Report 2014
Apr 29, 2015
21
Malaysia : NTP Report Cards
ETP – Critical targets for 2015 – Electrical And Electronics Electrical and Electronic Incremental GNI Impact Additional jobs MYR 6.5 b approved investments for E&E sector
2020 Target MYR 53.4 b 157,000
65% realisation of E&E sector investments approved since 2011
18 quality projects to be approved
20 Eco Design applications undertaken by companies/organisations utilising Eco Industrial Design Centre (EIDC) shared facilities
Completion of pre-commercialisation of Cu-CNT nanocomposite for thermal management in LED industry
Two companies undertaking commercial prototypes (Lithium Battery & Conductive Inks) under National Graphene Action Plan 2020 (NGAP2020)
MYR 110m total annual sales of local LED companies under SMECorp capacity building program
30 new LED products internationally certified
Two companies involved in Green Motion Controller (GMC) chip in pre-commercialisation validation and qualification
30 Advance Analytical Services provided by local consultants to the industry
50 trained engineers and students in Failure Analysis (FA) and Material Analysis
50 trained engineers and students in Wafer Testing
Five wafer testing services provided to local E&E companies
30 projects utilising Metrology Lab
Source: ETP Annual Report 2014
Apr 29, 2015
22
Malaysia : NTP Report Cards
ETP – 2014 Key Performing Indicators – Business Services No.
KPI
EPP1
Revenue from MRO services (MYR m) Government Unified Communication (1GovUC) - Number of users
EPP2
Public Sector Data Centre (PSDC) outsourced - Number of agencies
Target
Actual
5,500
5,270
Actual vs Target (%) 96
150,000
130,661
87
49
49
100
Number of new jobs created
13,839
13,953
101
Overseas sales revenue (MYR m)
1,831
2,015.50
110
785
795.5
101
EPP3
Total DC services revenue (MYR m)
EPP4
Revenue generated from main sources of segmentation in 2014 e.g. RE/EE/SWM/GTFS (MYR m)
2,271
1,443.20
64
New investment realised (MYR m) Number of green projects approved by banks
2,000 35
2,591 45
130 129
New loan value approved by financial institutions for GTFS (MYR m)
400
438.4
110
Number of newly appointed engineers
224
159
71
Revenue from pure-play engineering services companies (MYR m): (i) SAM (ii) DESB (iii) Others
60
54.25
90
Investment from pure-play engineering services companies (MYR m): (i) SAM (ii) DESB (iii) Others
25
10.39
42
Number of jobs created
240
262
109 96%
EPP5
EPP6
Source: ETP Annual Report 2014
ETP – Critical targets for 2015 – Business Services Business Services Incremental GNI Impact Additional jobs Securing one major FDI of a Data Centre
2020 Target MYR 78.7b 245,000
15% revenue growth in overseas sales for Shared Services & Outsourcing
MYR 44m worth of investments into Pure-play Engineering Services
MYR 2.5b in investments realised for Green Technology initiatives
Development and implementation of action plans under the new EPP, i.e. EPP 7, to create additional 350 jobs and
MYR 550m in revenue.
Source: ETP Annual Report 2014
Apr 29, 2015
23
Malaysia : NTP Report Cards
ETP – 2014 Key Performing Indicators – Communications Content And Infrastructure No.
KPI
EPP1
Target
Actual
Revenue of export from Creative Content (MYR m)
600
608.71
Actual vs Target (%) 101
Total estimated production spending under the “Film in Malaysia Incentive”(MYR m)
200
335.03
168
100%
99.90%
100
1
2
200
300,000
352,709
118
Percentage completion of Year 1 implementation of highspeed broadband project expansion
25%
0%
0
Access to LTE wireless broadband – supply (% population coverage)
25%
25%
100
1,250
1,225
98
100%
15%
60
20%
34%
170
100%
90%
EPP4
Percentage of schools with highspeed Internet connection achieving a minimum of 4Mbps and adheres to the Service Level Agreement terms
EPP6
Agencies adopting Digital Document Management System (unit) Utilisation of MyGovernment Portal - Number of Logins (units)
EPP7
EPP8
Number of new programme sites commission
EPP9
Percentage of implementation of submarine cables (linking Sabah, Sarawak and Peninsular Malaysia) rollout Percentage of bandwidth wholesale price reduction Development of a national blueprint for international cable
90 110%
Source: ETP Annual Report 2014
ETP – Critical targets for 2015 – Communications Content And Infrastructure Communications Content and Infrastructure 2020 Target Incremental GNI Impact MYR 35.7b Additional jobs 43,162 To record MYR600 m of revenue from the export of creative content
To attract MYR400 m total estimated production spent under Film in Malaysia Incentive
To ensure 7,000 schools are connected with high-speed broadband in the range of 4Mbps – 10Mbps
To ensure 200 health facilities are rolled out with e-health applications.
To ensure 10 new agencies onboard the Digital Document Management System
To ensure at least 10% increase in number of online transactions at Ministries and selected agencies
To provide access to high-speed broadband with speeds up to 50Mbps in capital cities and major towns by setting up 40,000 new HSBB ports
To provide access to high-speed broadband with speeds up to 100Mbps in sub urban areas by setting up 25,000 new SUBB ports
To ensure 30% population coverage for LTE wireless broadband service
To commission 950 new programme sites i.e. Kampung Tanpa Wayar, Pusat Internet 1Malaysia and Time3 Towers
To ensure 45% of project implementation of submarine cables (linking Sabah, Sarawak and Peninsular Malaysia) (SKR1M)
To ensure 50% completion of the international submarine cable
Source: ETP Annual Report 2014
Apr 29, 2015
24
Malaysia : NTP Report Cards
ETP – 2014 Key Performing Indicators – Agriculture No.
KPI
Target
Actual
Actual vs Target (%)
Number of pre-clinical and clinical trials to be conducted for nutraceutical and cosmeceuticals
6
6
100
Mobilisation of CoE to conduct research for product development
7
4
57
Total export of Edible Bird’s Nest product (mt)
170
145
85
Total number of newly registered EBN premises
3,000
2,551
85
Percentage increase in productivity per hectare per year
30%
10.40%
35
Percentage of farmers who adopted GAqP under the seaweed cluster programme
20%
28.20%
141
Total production of farmed fish by anchor companies (mt)
6,500
9,335.91
144
Percentage increase of calving rate for anchor companies
15.80%
12.9
82
Total production of shrimps by anchor companies (mt)
29,000
30,081.04
104
Total production from Taman Kekal Pengeluaran Makanan and anchor companies (mt)
40,000
45,404
114
EPP8
Percentage increase of sales of SME products under anchor company
10%
47.45%
475
EPP9
Total tonnage of fragrant rice produced (mt)
2,500
2,026.52
81
Total area planted (ha)
1,000
1,051.22
105
5%
7.30%
146
5,000
5,137.49
103
21
30
143
Total production from amalgamated land (mt)
32,000
36,911.77
115
Total land area amalgamated (ha)
6,200
6,347.43
102
17
16.6
98
500%
5
100
Total number of outgrowers developed
50
50
100
Total PAKAR sites operational
1
0
EPP1
EPP2
EPP3
EPP4 EPP5 EPP6 EPP7
EPP10
Percentage increase in income for the farmers under the MADA amalgamation project Total land area amalgamated (ha) Detail Design and preparation of contract document of Tertiary System (Blocks)
EPP11
EPP13 EPP14
EPP17
Total production of fresh milk (mil litre) Total number of collaborations signed between CMDV and industry
0 120%
Source: ETP Annual Report 2014
Apr 29, 2015
25
Malaysia : NTP Report Cards
ETP – Critical targets for 2015 – Agriculture Agriculture 2020 Target Incremental GNI Impact MYR 28.9b Additional jobs 109,335 10 clinical trials to be conducted for nutraceutical and cosmeceuticals
MYR 3.5m of herbal products revenue under EPP 1
200 tonnes total export of EBN product
11,500 tonnes total production of farmed fish by anchor companies under EPP 4
35,000 tonnes total production of shrimps by anchor companies under EPP 6
55,000 tonnes total production from TKPM and anchor companies under EPP 7
RM200 million total sales of companies and SMEs under EPP 8
21 new SMEs developed by anchor companies under EPP 8
254,600 tonnes total production from amalgamated land under EPP 10
83,570 tonnes total production from amalgamated land under EPP 11
23 mil litre of total fresh milk produced under EPP 13
Source: ETP Annual Report 2014
Apr 29, 2015
26
Malaysia : NTP Report Cards ETP – 2014 Key Performing Indicators – Education No.
KPI
Target
Actual
Actual vs Target (%)
EPP1
Private pre-school enrolment (including NGO) (4+ & 5+ years only)
485,232
421,863
87
Private childcare enrolment (0-4 years)
145,785
145,265
100
700
209
30
33,000
42,526
129
100%
100%
100
Number of new foreign TVET students studying in Malaysia
500
1,355
271
Number of graduates with competencies of Level 3, 4, 5 SKM
30%
30.10%
100
(i) 8,200
(i) 13,607
(ii) 100
(ii) 91
(i) 2,500
(i) 3,314
(ii) 20,000
(ii) 23,972
2,500
2,822
(i) 110,000
(i) 135,502
(ii) 30,000
(ii) 27,812
1,000
1,300
130
EPP2
Number of in-service pre-school teachers enrolled in diploma qualified courses
EPP5
Number of SKM qualified students from private accredited centres Percentage of skills programmes accredited in compliance to Code of Practice for Skills Programme Accreditation (COPSPA)
Islamic Finance and Business Discipline Cluster: (i) Number of students enrolled at HEIs in the Islamic Finance and Business programme (ii) (ii) Number of members registered under the International Society of Islamic Finance Educators (ISIFE)
EPP7
Hospitality and Tourism Discipline Cluster: (i) Number of students enrolled in HEIs in the cluster contact in the hospitality and tourism programme (ii) Number of student enrolled at private HEIs in the hospitality and tourism programme
EPP10
EPP11
Number of students enrolled in EduCity Iskandar Malaysia
EPP12
International Student Enrolment: (i) Number of international student enrolled (ii)Number of post graduate international students enrolled in HEIs
128
126
113
108
EPP13
Number of students enrolled under the buying places from established schools/operators
EPP14
Building a Games Development Discipline Cluster: Number of students enrolled in PHEIs with cluster contact
480
499
104
EPP17
Building an Accounting Discipline Cluster: Number of students enrolled in Sunway TES collaboration with IPTAs programme
261
262
100 116%
Source: ETP Annual Report 2014
ETP – Critical targets for 2015 – Education Education 2020 Target Incremental GNI Impact MYR 33.6 b Additional jobs 535,000 Continue to focus on increasing the percentage of students enrolled in early childcare and pre-schools
Facilitate improved international student and teacher experience through collaboration with EMGS, the Immigration
Department and other relevant agencies
Improve international marketing of universities and course availability in Malaysia as a global education destination with the support of EMGS and relevant Government agencies
Drive the growth of TVET by reaching out to parents and students on career opportunities as well as rebrand TVET as an attractive alternative career pathway
Enhance the partnership and collaboration between the industry and other private skills training centres and
Institutions to ensure graduates are highly employable
Source: ETP Annual Report 2014
Apr 29, 2015
27
Malaysia : NTP Report Cards
ETP – 2014 Key Performing Indicators – Healthcare No.
KPI
Target
Actual
Actual vs Target (%)
100%
100%
100
22400%
202
90
695
673
97
Number of new clinical trials in MoH facilities
7900%
125
158
Percentage of Off Take Proposal processed within 100 working days as stipulated in SOP approved by MOF (by processed means after Lembaga Perolehan A has made its decision and application forwarded to Treasury)
100%
N/A
N/A
Export growth of pharmaceutical products (MYR m)
594.68
610.71
103
EPP4
Revenue generated from healthcare travel (MYR m)
724
685.58
95
EPP6
To get Development Order approval from MBPJ to start the construction of UMHM
100%
N/A
N/A
EPP15 – 17.1
To obtain Cabinet decision on Aged Healthcare Act
100%
90%
90
EPP1
Percentage of foreign workers with health insurance (excluding domestic maids and plantation workers)
EPP2
Number of new clinical trials conducted Cumulative number of research initiated (started, ongoing and new)
EPP3
105% Source: ETP Annual Report 2014
ETP – Critical targets for 2015 – Healthcare Healthcare Incremental GNI Impact Additional jobs The Aged Private Healthcare Facilities and Services Act to be
2020 Target 35,000 181,000 passed in Parliament
and the regulations to be ready by 2015
Eden-on-the-Park – nursing component to be ready to provide services by April 2015
Pharmaceutical export to increase by 10% from 2014 achievement
At least 40% of the clinical trials are carried out in Government facilities
Health tourists to grow by 15% based on 2014’s achievement
Source: ETP Annual Report 2014
Apr 29, 2015
28
Malaysia : NTP Report Cards
Appendix 2: SRI – Targets & Achievements SRI – Competition, Standards and Liberalisation No.
KPI
Target
Actual
Actual vs Target (%)
Number of new fruit and vegetable farms certified under Malaysian Good Agriculture Practices(MyGAP) Department of Agriculture (DOA)
500
533
107
Number of new aquaculture farms certified under MyGAP – Department of Fisheries (DOF)
65
67
103
Number of new livestock farms/premise certified under MyGAP - Department of Veterinary Services (DVS)
160
198
124
Number of products under MyHIJAU Progamme
250
353
141
Number of new applicants that received green recognition
60
60
100
Food Production Establishments Certified for “Makanan Selamat Tanggungjawab Industri” (MeSTI)
500
530
106
Number of qualified companies signed up under the National Standards Compliance Progamme (NSCP)
30
77
257
4
Number of new organisations certified by accredited CBs to horizontal standards (MS ISO 9001, MS ISO 14001, MS ISO 22000, MS ISO/IEC 27001, MS 1480, MS 1722)
800
841
105
5
Approval of guidelines for standardisation of public consultation procedures for new/amendments of legislation (for domestic regulations)
100%
100%
100
1
2
3
127% Source: ETP Annual Report 2014
SRI – Public Finance Reform KPI
Target (FY)
Actual (YTD)
Achievements (%)
1
Enhancement of tax administration and compliance Direct Tax (MYR m)
1,795
1,990
111
2
Enhancement of tax administration and compliance Indirect Tax (Royal Malaysian Customs Department) (MYR m)
110
159.64
145
3
Implementation of Accrual Accounting Activities in 2014
100%
81.30%
81
4
Eliminate Incompetent Suppliers/Service Providers (depends on complaints received)
100%
100%
100
5
Implementation of GST activities for year 2014
100%
100%
No
100 107%
Source: ETP Annual Report 2014
Apr 29, 2015
29
Malaysia : NTP Report Cards
SRI – Public Service Delivery No.
KPI
1
Percentage progress of Single Sign- On projects: Complete development and implemented in 20 Agencies
2
Roll out of real-time monitoring to Ministries/ Agencies
3
BLESS implementation
4
Number of licences abolished
Target
Actual
Actual vs Target (%)
50%
50%
100%
17
17
100%
100%
100%
100%
19
0
0 75%
Source: ETP Annual Report 2014
SRI – Narrowing Disparity Target (FY)
Actual (YTD)
Achievements (%)
300
417
139
Number of new TeraS companies venturing overseas
50
76
152
2
Number of new potential Bumiputera Corporate Champions (BCC) implementing Vendor Program
20
25
125
3
Amount of additional funds being raised from banks and non-banks (MYR m)
500
1,050
210
Amount of funds approved by participating banks and non-banks (MYR m)
500
552.42
110
Number of companies receiving financial assistance from participating banks and non-banks
150
224
149
Amount of facilitation funds approved (MYR m)
500
369.4
74
4
Number of projects funded and facilitated through Economic Corridors and Central Region
80
131
164
5
Number of Mega Projects carved-out for bumiputera
6
6
100
No 1
KPI Number of new companies in the High Performing Bumiputera SMEs (HPBS)
136% Source: ETP Annual Report 2014
SRI – Reducing Government’s Role in Business No 1 2
KPI Number of Ministry companies divested (Ministry of Works) Number of companies under GLC/GLICs to be divested
Target (FY)
Actual (YTD)
Achievements (%)
2
2
100
5
5
100 100%
Source: ETP Annual Report 2014
Apr 29, 2015
30
Malaysia : NTP Report Cards
SRI – Human Capital Development No.
Target
Actual
Actual vs Target (%)
10%
10.20%
102
100%
98.50%
99
100.00%
98.20%
98
2
Strengthening HRM in SME: (i) Number of employers registered with National Human Resource Centre (NHRC) Portal (ii) HR Capability Building Programmes (iii) Tracer study
100%
112.65%
113
3
Amendments to the Industrial Relations Act 1967 - Table to Parliament (Q4 2014)
1
1
100
4
Minimum Wages Statutory Inspection
21,360
24,167
113
100%
100%
10000%
15,000
17,470
116
500
684
137
800
586
73
250
253
101
Number of childcare providers trained
3,500
3,296
94
SMPK System completed and extended to childcare centres for registration
100%
50%
50
MyProCert Programme
2,410
3,967
132
Industry Academia Collaboration
4,500
9,964
1
KPI Percentage of women on board level (Public Listed Companies only) Research and publication by internal ILMIA resources: (i) ECER (Manpower Requirement) (ii) Informal Sector (Role of Informal Sector in Labour Market) Percentage progress on ILMIA Labour Dashboard enhancement
5 6
Notice of compliance served on all noncomplying employers identified through the inspection exercise on minimum wages Number of employees with Recognition of Prior Learning certification Number of jobs advertised with Flexible Work Arrangement on www.flexworklife.my Number of new childcare centres set up/registered that meets the conditions and quality set under Child Care Centre Act 1984 Number of corporate women trained
7
221 110%
Source: ETP Annual Report 2014
Apr 29, 2015
31
Malaysia : NTP Report Cards Appendix 3: GTP – Targets & Achievements Government Transformation Programme (GTP) Performance, 2014: By NKRAs and Overall NKRAs
Actual (%)
Budget (MYRm)
Spending (MYRm)
% of Budget
Method 1
Method 2
Method 3
99
98
83
30.0
42.7
142
102
94
94
3,324.2
2243.5
67
99
95
75
37.3
21.9
59
Raising Living Standards of Low-Income Households
102
96
86
299.1
295.6
99
Assuring Quality Education
94
90
68
381.9
368.0
96
Reducing Crime
160
95
90
365.2
266.6
73
8.7
94
Addressing the Cost of Living Improving Rural Development Improving Urban Public Transport
Fighting Corruption
82
82
50
9.3
Public Service Delivery Transformation
139
100
100
2.2
2.2
100
OVERALL
105
93
78
4449.2
3249.3
73
Notes: 1) Method 1: Scoring is calculated by a simple comparison against set 2014 targets. The overall NKRA composite scoring is the average of all scores 2) Method 2: Scoring is calculated by dividing actual results against set 2014 targets with an added rule: • If the scoring is less than 100%, score #2 is taken as the actual percentage • If the scoring is equal or more than 100%, score #2 is taken as 100% • The overall NKRA composite scoring is the average of all scores 3) Method 3: Scoring is calculated by dividing actual results against set 2014 targets with an added rule: • If the scoring is equal and less than 50%, score #3 is indicated as 0 • If the scoring is more than 50% and less than 100%, score #3 is indicated as 0.5 • If the scoring is equal or more than 100%, score #3 is indicated as 1 Source: PEMANDU (GTP Annual Report 2014)
Apr 29, 2015
32
Malaysia : NTP Report Cards Highlights of Key Outcomes of Government Transformation Programme (GTP) – Reducing Crime Target 2012
Actual 2012
Crime Reduction in Reported Index Crime (%) Reduction in Reported Street Crime (%)
5% 45%
7.6% 41.3%
Reduction in TNS "Fear of Crime" Index
45%
57.3%
Arrest cases brought to trial Increase Investigation Papers brought to trial
25%
34.7%
Increased public perception on police performance
65%
65.7%
KPIs
Reduce reported House Break-Ins Develop New Safety Perception Index
Target 2013
Actual 2013
Target 2014
Actual 2014
5%
4.3%
5%
12.6%
35%
38.2% 35%
43.3%
80%
92.5%
5%
11.7%
52% (Baseline: 42.7%)
38.6%
5%
6.5%
100%
47%
Safety Perception Index Public satisfaction with police front line performance
70%
85.7%
Source: GTP Annual Report 2014
Reducing Crime – 2015 Outlook
Target
Percentage reduction in Reported Index Crime Percentage reduction in Reported House Break-Ins
5% 10%
Percentage reduction in Reported Street Crime
15%
Percentage development of Crime Perception Indicator
100%
Number of PDRM Mobile Patrol Vehicles (MPVs) that are beyond lifespan replaced
50%
Percentage of Orang Kena Pengawasan (OKP) who attended treatment programmes in the community to maintain recovery for a year
20%
Upskilling of Inmates: i) Number of inmates undergoing certified skills training ii) Percentage completion of a training facility for prisoners to learn new skills
100% i)1,500 ii)100%
Source: GTP Annual Report 2014
Apr 29, 2015
33
Malaysia : NTP Report Cards Highlights of Key Outcomes of Government Transformation Programme (GTP) – Fighting Corruption Target 2012
Actual 2012
22
18
No. of arrest cases brought to trial
25%
34.7%
70% of companies announcing EPPs in Progress Update to sign the CIP
100%
100%
300
395
13
18
60%
47.53%
4.9
49%*
KPIs No of ministries scoring above 90% in the Procurement Accountability Index
No. of people in the database of convicted offenders No. of summons issued vs. Total hours of operations (PDRM Traffic) No. of summons settled vs. No. of summons issued by JPJ Transparency International (TI’s) Corruption Perception Index
Target 2013
Actual 2013
Target 2014
Actual 2014
55%
50%
55%
52%
60%
28%
Transparency International (TI): Global Corruption Barometer (GCB) score Global Corruption Barometer survey on Government actions to fight corruption (%)
52
-
60%
31%
Percentage of trials completed within a year
70.0%
75.5%
Percentage of government procurement with integrity Pact
100%
85%
TNS perception survey on how much enforcement agencies perceived to be affected by corruption
2.75
2.94
Percentage of completion of compliance unit activities
85%
93%
Whistle blower protection awareness and satisfaction survey result
50%
26.8%
Full-fledge implementation through a prescribed method of the political funding initiative
100%
50%
Commence reporting corruption-related cases under Whistleblower Act
100%
100%
Indeks Prestasi Integriti Nasional (IPIN – Corruption Score)
6.9
6.8
7.1
78.3%
Increase conviction rate for corruption cases
80%
84.1%
85%
71.8%
85%
71.8%
Produce a clear procedure for effective implementation of Whistle Blower Act` Begin the process of reporting of actual numbers of whistle Blower case
Complete trial of corruption cases within 1 year Amendment of Societies Act 1966 to be tabled in Parliament and Regulations to be gazette and made effective to further regulate political financing
100%
-
Tabling of Auditor General’s Report in every Parliament Session
100%
66.7%
100%
100%
To publish direct negotiation contracts online: i. Technical ii.
Emergency
iii.
Bumiputra
Excluding Strategic and Security Source: GTP Annual Report 2014
Apr 29, 2015
34
Malaysia : NTP Report Cards Highlights of Key Outcomes of Government Transformation Programme (GTP) – Fighting Corruption (Con’t) Target 2014
Actual 2014
Tabling of AuG Report in every Parliament Session
100%
100%
Publish online results of direct negotiation contracts excluding Strategic and Security contracts
100%
100%
100% of MPs attended the Integrity Training for MPs
67%
30.18%
Insertion of corporate liability provision in MACC Act
100%
80%
KPIs
Target 2012
Actual 2012
Set up of Corruption Prevention Secretariats (Sekretatiat Pencegahan) in 27 Teachers Training Colleges (Institut Pendidikan Guru) Percentage of Member of Parliament (MP) attendance at the integrity Training for MPs
Target 2013
Actual 2013
27
27
50%
33% ( 73 of 111 MPs attended training)
78% Source: GTP Annual Report 2014
Fighting Corruption – 2015 Outlook
Target
Indeks Prestasi Integriti Nasional (IPIN): Corruption Index score Transparency International (TI): Global Corruption Barometer (GCB) score
7.3 60%
Transparency International (TI): Corruption Perception Index (CPI) score
55%
Percentage of disposal of corruption cases within 1 year
85%
Percentage of conviction rate for corruption cases
85%
Tabling of AuG Report in every Parliament Session
100%
Percentage of resolution of cases highlighted in Aug Report Series 1-3, 2013 successfully dealt with within 1 year after being tabled in Parliament
85%
Percentage of completion on insertion of corporate liability provision in MACC Act
100%
Number of Corporate Integrity Pledge (CIP) signatories implementing prevention measures Percentage of results of direct negotiation contracts published online, excluding Strategic and Security contracts Percentage of Public Private Partnership (PPP) projects to sign Integrity Pact
40 Companies 100% 100%
Source: GTP Annual Report 2014
Apr 29, 2015
35
Malaysia : NTP Report Cards Highlights of Key Outcomes of Government Transformation Programme (GTP) – Assuring Quality Education NKRAs Pre-School /Early Childcare
Actual 2012
Target 2013
Actual 2013
Target 2014
Actual 2014
80.5%
88%
81.7%
90%
84.2%
All public pre-schools to complete the Pre-school Standard Quality Seld-Assesment
100%
99.2%
Percentage of public pre-school that meet the minimum Malaysian Preschool Standard based on the Preschool Standard Quality Assessment
100%
10%
9.71%
English literacy rate for Year 2
83%
78.3%
BM literacy rate for Year 3
100%
98.65%
Numeracy rate for Year 3
100%
98.92%
115
115
10
13
100% (i) 5% (ii) 5%
153.8% (i) 7.3% (ii) 8.08%
1.4%
1.39%
31%
31.03%
KPIs Pre-school enrollment rate (%)
Target 2012 87%
Childcare enrolment (0-4) Linus 2.0
LINUS Literacy Rate (Cohort 1)
100%
99.8%
LINUS Numeracy Rate (Cohort 1)
100%
99.9%
Ensuring 90% of the Cohort 4, Primary 1 have basic mastery of language and numeracy skills LINUS Literacy Rate (Cohort 2)
95%
96.3%
LINUS Numeracy Rate (Cohort 2)
95%
97.8%
Ensuring 100% of the Cohort 2, Primary 3 have basic mastery of language and numeracy skills LINUS Literacy Rate (Cohort 3)
90%
82.2%
LINUS Numeracy Rate (Cohort 3)
90%
91%
Ensuring 95% of the Cohort3, Primary 2 have basic mastery of language and numeracy skills
HPS
High Performing Schools
100
Maintaining the 91 existing HPS
90%
90.1%(n)* 81.3% (l)*
100%
99.3%(n)* 99.1% (l)*
95%
94.5%(n)* 93.2% (l)*
91
19 (new)
-
91
24 (new) 115 (Total) 91
New High Performance Schools New Deals
New Deals - Primary school principals exceeding target
4%
-
Ensuring that 4% of primary school head teachers or principals meet the requirement to be awarded New Deal Package New Deals - Secondary school principals exceeding target
3%
Ensuring that 4% of secondary school head teachers or principals meet the requirement to be awarded New Deal Package
4%
6%
4%
6.6%
5.5%
-
New Deals - Primary school principals performing below target
6%
-
New Deals - Secondary school principals performing below target
8%
5.6%
Percentage of head teachers receiving New Deals (i) Primary school (ii) Secondary school District and School Transformation Prog -amme
School improvement programme - Reduce Band 6 &7
20%
43.6%
School improvement programme – Only 2% are classified as Band 6 or Band 7 School improvement programme - Increase Band 1 &2 School improvement programme – At least 35% are classified as Band 1 or Band 2
< 2% 8%
1.7%
27.1% >35%
29%
Source: GTP Annual Report 2014 ; n- numeral, l- literacy
Apr 29, 2015
36
Malaysia : NTP Report Cards
Highlights of Key Outcomes of Government Transformation Programme (GTP) – Assuring Quality Education (Con’t) NKRAs New Teacher Charter
Up skilling the proficiency of English teachers
Target 2014
Actual 2014
Percentage of teacher intake at IPGM from the top 30% of high school leavers
100%
100%
To develop roadmap to achieve 100% of teacher intake at HEIs from the top 30% of STPM / Matriculation / equivalent leavers as stated in the Education Blueprint
100%
100%
Roll out of Differentiated Teaching and Learning approach to all Form 3 hotspot schools
100%
100%
Percentage of 138 PPD (District Education Offices) having baseline ranking/rating
100%
70%
85%
0
Percentage of principal candidates identified using the new requirement, at least 6 months before retirement of predecessor to fill in the principal vacancies
100%
85.38%
New English teachers to achieve C1 based on CEFR before posting
100%
72.5%
New English teacher trainees achieved a minimum of A or A+ in SPM in English before entering teacher training institute (IPG & IPT)
100%
100%
KPIs Evaluate all 410,000 teachers under the new assessment tool, i.e. the unified instrument (UI)
Ensuring that all English teachers sent for upskilling increase their proficiency by at least one Band under the Cambridge Placement Test or equivalent
Target 2012
Actual 2012
Target 2013
Actual 2013
100%
24.2%
100%
73.3%
Source: GTP Annual Report 2014 n- numeral, l- literacy
Apr 29, 2015
37
Malaysia : NTP Report Cards Assuring Quality Education – 2015 Outlook
Target
Nationwide pre-school enrolment, including NGO (4+ and 5+ years only)
88%
English literacy rate among Year 3 students
100%
Percentage of Band 1 & 2 schools
35%
Percentage of Band 6 & 7 schools
1.2%
Percentage of teachers improved to at least minimum competency level through CPD
25%
Percentage of principals improved to at least minimum competency level through CPD
25%
Number of High Performing Schools
130
Numeracy rate
100%
Bahasa Melayu literacy rate
100%
Percentage of primary school head masters receiving New Deals
5%
Percentage of secondary school principals receiving New Deals
5%
New English teacher trainees achieved A or A+ in SPM in English before entering IPG
100%
Percentage of 138 District Education Offices (PPD) with baseline rating
100%
IPG Strategic Plan is developed by December 2015
100%
Percentage of teachers trained in the Pro-ELT programme that have increased by at least one proficiency band in CEFR
85%
Percentage progress of development of database of 13-17 year old enrolment in Technical Vocational Education and Traning (TVET) across all agencies
100%
New English teachers from IPG, IPTA and IPTS achieved C1 based on CEFR before posting
100%
National childcare enrolment rate (0-4)
12.5%
Source: GTP Annual Report 2014
Apr 29, 2015
38
Malaysia : NTP Report Cards Highlights of Key Outcomes of Government Transformation Programme (GTP) – Low-Income Households Target 2014
Actual 2014
100%
100%
Number of new 1AZAM participants monitored at the minimum of 6 months after implementation
32,300
33,368
Number of new and existing 1AZAM participants who increased their income by MYR300 for any 3 months / Above Poor PLI (2012)
28,900
24,646
Number of 1AZAM participants in Financial Literacy Programme
32,300
28,518
Number of1AZAM projects in colloboration with NGOs and Corporate Sector
36
46
Number of 1AZAM Community/ Group Based Programmes
77
77
Number of graduated 1AZAM participants who obtained Micro Credit loan
500
555
KPIs Train and develop women entrepreneurs To ensure ekasih registered poor households participate in the 1 AZAM initiatives
Target 2012
Actual 2012
Target 2013
Actual 2013
4,000
4,300
1,000
1,000
97,393
106,967
To ensure 100% updates in eKasih To ensure 13,237 existing 1 AZAM participants increase their per capita income above the poor Poverty Line Income (PLI)
13,237
15,047
To ensure 7,480 existing 1 AZAM participants under KPWKM, increase their monthly income by MYR 200 every month
7,840
7,936
Number of existing 1 AZAM participants who increase their monthly income by MYR 300 for every 3 months
17,060
18,249
35,100
38,663
Number of NGOs/CSOs in collaboration with the 1AZAM programme
25
34
Number of 1AZAM Community/Group Based programme
40
46
To ensure 100% monthly updating of data in eKasih for all recipients registered under the 1 AZAM programme
100%
100%
Number of new participants taking part in 1AZAM Programme
Verifying and registering all eKasih open registration – backlog and 100% of new cases
100%
96%
Housing – Offering low cost houses under DBKL for sale to current tenants
44,416
35,095
Housing – Restoring abandoned houses and building Rumah Mesra Rakyat
4,965
4,865
Housing – Rumah Mesra Rakyat
1,500
2,010
2
2
Producing half-yearly report on Women entrepreneurs (to identify trends in income generation)
100%
100%
Source: GTP Annual Report 2014
Low-Income Households – 2015 Outlook
Target
Number of new participants participating in 1AZAM programme
23,200
Number of new and existing 1AZAM participants who increased their income by MYR300 for any 3 months
24,669
Number of 1AZAM participants in Financial Literacy Programme
23,200
Number of 1AZAM projects in colloboration with NGOs and Corporate Sector
36
Number of 1AZAM Community/Group Based Programmes
60
Beyond 1AZAM participants who obtained minimum 50% increase in income from existing 1AZAM projects for a consecutive 3 months
2,100
Percentage of updates recorded in eKasih
100%
Source: GTP Annual Report 2014
Apr 29, 2015
39
Malaysia : NTP Report Cards Highlights of Key Outcomes of Government Transformation Programme (GTP) – Improving Rural Development KPIs
Actual 2013
Target 2014
Actual 2014
719 (163%)*
437.65
485.49
Semenanjung
227
244
Sabah
105
109
Sarawak
106
132
8,000
8,195
Semenanjung
2,000
2,195
Sabah
3,000
3,000
Sarawak
3,000
3,000
14,295
14,299
Semenanjung
1,644
1,540
Sabah
4,151
4,227
8,500
8,532
8,175 (Ratio 80:20)
8,995
Semenanjung
2,908
3,560
Sabah
2,732
2,637
2,535
2,798
730
815
13
13
Roads (km)
Water (unit of households)
Electricity (unit of households)
Target 2012 1349 (Additional)
201192 (Additional)
39442 (Additional)
Actual 2012 1,553
187,567
41,030
Target 2013 441 (Additional)
26,100 (Additional)
19,811 (Additional)
31,004 (119%)*
19,996 (101%)*
Sarawak Housing (units)
14564 (Additional)
22,085
7,212 (Additional)
11,021 (153%)*
Program Bantuan Rumah (PBR) Ratio - Houses Repaired : New Houses Built
Sarawak Road Maintenance (km) Private-driven fresh fruit and vegetable farms Desa Lestari: Number of villages which are business ready Desa Lestari: Complete design and procurement (kampung) Rural business challenge winners Percentage of 2012 winners achieving 25% of increase of income AGRI EPP#7: Upgrading Capabilities to Produce Premium Fruits and Vegetables - Large Fruit Farms
730
1,241 (170%)*
2 sites
2 sites (100%)*
10 villages
10 villages (100%)*
19 kampungs
15 kampungs (79%)*
11 winners
11 winners (100%)*
115%
13-20 80%
90.9%
2
1
Source: GTP Annual Report 2014 *Achievement in percentage
Improving Rural Development – 2015 Outlook
Target
Road Delivery (km length) Water Delivery: Number of Households
697 7,500
Electricity Delivery: Number of Households
13,319
Housing: Number of Houses
9,500
Road Maintenance (km length) 313 21CV: Desa Lestari 21CV: EPP 7 21CV: RBC
313 13 Villages 2 Site 80% of the 2013 Winners achieving 30% Increase of Income
Source: GTP Annual Report 2014
Apr 29, 2015
40
Malaysia : NTP Report Cards
Highlights of Key Outcomes of Government Transformation Programme (GTP) – Urban Public Transportation KPIs Public transport modal share (%)
Target 2012 25%
Actual 2012 20%
Target 2013
Actual 2013
Target 2014
Actual 2014
% of population within 400 metres of public transport route
72%
72%
75%
71%
71%
72%
Customer satisfactory survey
55%
73%
70
71
75%
86%
Bus peak hour load factor
70%
87%
KTM Komuter (train) load factor
100%
53%
70% - 80%
72
75% - 80%
92%
85
95
95%
97.5%
80% - 90%
73%
80%
69%
400,000
437,525
470,000
455,728
Number of additional parking bays at Klang Valley Rail Network
1,200
2,602
2,100
2,407
Number of KL Budget Taxi Fleet – at par with ASEAN Best in Class
3,000
3,172
4,100
3,788
KTM Komuter on-time performance during AM peak RapidKL Kelana Jaya LRT line load factor
80%
83%
Stage bus AM Peak load factor AM peak public transport ridership
600,000
334,598
Weighted average ratio of public journey time to private journey time
1.60 : 1
1.43:1
Road safety (Deaths per 10000 vehicle) (road fatalities/10,000 registered vehicles)
3.01
2.8
Source: GTP Annual Report 2014
Urban Public Transport – 2015 Outlook
Target
AM Peak public transport ridership (GKL/KV)
550,000
Urban Public Transport customer satisfaction level Number of KL Budget Taxi Fleet - at par with ASEAN Best-in-Class KL Monorail Expansion Project: Number of 4-car train sets delivered and commissioned
75% 4,100 12
Bus Rapid Transit Corridor 1 (KL - Klang) project: LOA issued
100%
Percentage of completion on the streamlining of Klang Valley Stage Bus Network according to Corridors
100%
Percentage completion of design for the KTMB Ticketing System (AFC)
100%
ITT Gombak Project: Finalisation of the Supplementary Agreement
100%
Source: GTP Annual Report 2014
Apr 29, 2015
41
Malaysia : NTP Report Cards Highlights of Key Outcomes of Government Transformation Programme (GTP) – Rising Cost of Living KPIs Bantuan Rakyat 1 Malaysia (BR1M) – No. of households to benefit from BR1M
Target 2012
Actual 2012
3,400,000
4,179,061
Direct handout to the Rakyak (BRIM 2.0) MYR 5OO for eligible household recipients with total monthly household income of MYR3,OOO and below
Target 2013
Actual 2013
100%
100%
Target 2014
Actual 2014
Direct handouts to the Rakyat (BR1M): (i) MYR650 for eligible household recipients with total earnings of MYR3,000 per month and below + iBR1M MYR50
100% (i) 100%
(ii) MYR450 for eligible household recipients with total earnings between MYR3,001 and MYR4,000 per month + iBR1M MYR50
98.7% (ii) 100%
(iii) MYR300 for eligible single Individual recipients aged below 21 years old with income of MYR2,000 per month and below + iBR1M MYR50
(iii) 100%
RM250 for eligible single individual recipients aged 21 years old and above earning MYR2,000 and below monthly
100%
100%
Back To School Incentive – MYR 100 cash assistance for students enrolled in Primary 1 to Form 5
100%
100%
100%
100%
-
% of school completed payout
-
Number of school students receiving payment*
MYR200 book voucher for students enrolled in public and private local institution of higher learning, matriculation and Form 6 students – Total value of vouchers redeemed (MYR m)
100%
100%
5,800,000
5,331,207
260
225
Implementation of MYR250 book voucher to IPTA & IPTS students (RM claimed by book stores) Kedai Rakyat 1 Malaysia (KR1M) - Total Menu Rakyat 1Malaysia- Number of restaurants participating Klinik 1Malaysia - Total number of clinics in operations Kedai Kain 1Malaysia (KK1M) shops
100%
100%
100%
90%
60
59
40
40
35
36
2,000
2,228
1,000
1,100 (100%)*
1,000
1,000
50
81
70
70 (100%)*
50
51
26
12 (46.15)*
Source: GTP Annual Report 2014
Rising Cost of Living – 2015 Outlook Set up of new KR1M
Target 25 i) 20 - Peninsular Malaysia ii) 3 - Sarawak iii) 2 - Sabah
Handout of Back to School Incentive
100%
Handout of BB1M
100%
Direct handout to the Rakyat (BR1M) i) MYR950 for eligible houshold recipients with total earnings no more than MYR3,000 per month + Family Bereavement Scheme ii) MYR750 for eligible household recipients with total earnings between RM3,001 and MYR4,000 per month + Family Bereavement Scheme iii) MYR350 for eligible single individual recipients aged below 21 years old with income of MYR2,000 per month and below
100%
Number of new 1Malaysia Clinics providing services
TBC i) 26 - Peninsular Malaysia ii) 2 - Sarawak iii) 2 – Sabah + 2014 Backlog
Source: GTP Annual Report 2014
Apr 29, 2015
42
Malaysia : NTP Report Cards Government Transformation Programme (GTP) Performance, 2014: Public Service Delivery NKRAs
Target
Actual
Achievements
100%
100%
100
2 Projects
4
200
50%
58.3%
117
Ministry of Works Road Signages & Road Markings in Kuantan District Percentage completion of enhancement of Kuantan road signages & road markings Ministry of Health Optimising patient flow through LEAN Healthcare initiatives to improve waiting time Number of Number of LEAN Healthcare initiatives in MOH Hospitals Ministry of Federal Territories Lift Maintenance Reduction in lift breakdown complaints in Batu Muda OVERALL
139%
Source: PEMANDU (GTP Annual Report 2014)
Apr 29, 2015
43
Malaysia : NTP Report Cards Research Offices REGIONAL
HONG KONG / CHINA
INDONESIA
WONG Chew Hann, CA Regional Head of Institutional Research (603) 2297 8686
[email protected]
Howard WONG Head of Research (852) 2268 0648
[email protected] • Oil & Gas - Regional
Wilianto IE Head of Research (62) 21 2557 1125
[email protected] • Strategy
ONG Seng Yeow Regional Head of Retail Research (65) 6432 1453
[email protected]
Alexander LATZER (852) 2268 0647
[email protected] • Metals & Mining – Regional
Rahmi MARINA (62) 21 2557 1128
[email protected] • Banking & Finance
Jacqueline KO, CFA (852) 2268 0633
[email protected] • Consumer Staples & Durables
Aurellia SETIABUDI (62) 21 2953 0785
[email protected] • Property
Alexander GARTHOFF Institutional Product Manager (852) 2268 0638
[email protected]
ECONOMICS Suhaimi ILIAS Chief Economist Singapore | Malaysia (603) 2297 8682
[email protected] Luz LORENZO Philippines (63) 2 849 8836
[email protected] Tim LEELAHAPHAN Thailand (66) 2658 6300 ext 1420
[email protected] JUNIMAN Chief Economist, BII Indonesia (62) 21 29228888 ext 29682
[email protected]
STRATEGY Sadiq Currimbhoy Global Strategist (65) 6231 5836
[email protected] Willie Chan Hong Kong / Regional (852) 2268 0631
[email protected]
MALAYSIA WONG Chew Hann, CA Head of Research (603) 2297 8686
[email protected] • Strategy • Construction & Infrastructure Desmond CH’NG, ACA (603) 2297 8680
[email protected] • Banking & Finance LIAW Thong Jung (603) 2297 8688
[email protected] • Oil & Gas - Regional • Shipping ONG Chee Ting, CA (603) 2297 8678
[email protected] • Plantations - Regional Mohshin AZIZ (603) 2297 8692
[email protected] • Aviation - Regional • Petrochem YIN Shao Yang, CPA (603) 2297 8916
[email protected] • Gaming – Regional • Media TAN Chi Wei, CFA (603) 2297 8690
[email protected] • Power • Telcos WONG Wei Sum, CFA (603) 2297 8679
[email protected] • Property & REITs LEE Yen Ling (603) 2297 8691
[email protected] • Building Materials • Glove Producers CHAI Li Shin, CFA (603) 2297 8684
[email protected] • Plantation • Construction & Infrastructure Ivan YAP (603) 2297 8612
[email protected] • Automotive
Ka Leong LO, CFA (852) 2268 0630
[email protected] • Consumer Discretionary & Auto Benjamin HO (852) 2268 0632
[email protected] • Consumer & Auto Karen KWAN (852) 2268 0640
[email protected] • Property & REITs Osbert TANG, CFA (86) 21 5096 8370
[email protected] • Transport & Industrials Ricky WK NG, CFA (852) 2268 0689
[email protected] • Utilities & Renewable Energy Steven ST CHAN (852) 2268 0645
[email protected] • Banking & Financials - Regional Warren LAU (852) 2268 0644
[email protected] • Technology – Regional
INDIA Jigar SHAH Head of Research (91) 22 6632 2632
[email protected] • Oil & Gas • Automobile • Cement Anubhav GUPTA (91) 22 6623 2605
[email protected] • Metal & Mining • Capital Goods • Property Urmil SHAH (91) 22 6623 2606
[email protected] • Technology • Media Vishal MODI (91) 22 6623 2607
[email protected] • Banking & Financials Abhijeet Kundu (91) 22 6623 2628
[email protected] • Consumer
SINGAPORE NG Wee Siang Head of Research (65) 6231 5838
[email protected] • Banking & Finance Gregory YAP (65) 6231 5848
[email protected] • SMID Caps – Regional • Technology & Manufacturing • Telcos
Isnaputra ISKANDAR (62) 21 2557 1129
[email protected] • Metals & Mining • Cement Pandu ANUGRAH (62) 21 2557 1137
[email protected] • Infra • Construction • Transport• Telcos Janni ASMAN (62) 21 2953 0784
[email protected] • Cigarette • Healthcare • Retail Adhi Tasmin (62) 21 2557 1209
[email protected] • Plantations
PHILIPPINES Luz LORENZO Head of Research (63) 2 849 8836
[email protected] • Strategy • Utilities • Conglomerates • Telcos Lovell SARREAL (63) 2 849 8841
[email protected] • Consumer • Media • Cement Rommel RODRIGO (63) 2 849 8839
[email protected] • Conglomerates • Property • Gaming • Ports/ Logistics Katherine TAN (63) 2 849 8843
[email protected] • Banks • Construction Ramon ADVIENTO (63) 2 849 8845
[email protected] • Mining Michael Bengson (63) 2 849 8840
[email protected] • Conglomerates Jaclyn Jimenez (63) 2 849 8842
[email protected] • Consumer Arabelle Maghirang (63) 2 849 8838
[email protected] • Banks
THAILAND
YEAK Chee Keong, CFA (65) 6231 5842
[email protected] • Offshore & Marine
Maria LAPIZ Head of Institutional Research Dir (66) 2257 0250 | (66) 2658 6300 ext 1399
[email protected] • Consumer • Materials • Ind.Estates
Derrick HENG, CFA (65) 6231 5843
[email protected] • Transport (Land, Shipping & Aviation)
Jesada TECHAHUSDIN, CFA (66) 2658 6300 ext 1394
[email protected] • Financial Services
WEI Bin (65) 6231 5844
[email protected] • Commodity • Logistics • S-chips John CHEONG (65) 6231 5845
[email protected] • Small & Mid Caps • Healthcare TRUONG Thanh Hang (65) 6231 5847
[email protected] • Small & Mid Caps
Suttatip PEERASUB (66) 2658 6300 ext 1430
[email protected] • Media • Commerce Sutthichai KUMWORACHAI (66) 2658 6300 ext 1400
[email protected] • Energy • Petrochem Termporn TANTIVIVAT (66) 2658 6300 ext 1520
[email protected] • Property Jaroonpan WATTANAWONG (66) 2658 6300 ext 1404
[email protected] • Transportation • Small cap Chatchai JINDARAT (66) 2658 6300 ext 1401
[email protected] • Electronics
VIETNAM LE Hong Lien, ACCA Head of Institutional Research (84) 8 44 555 888 x 8181
[email protected] • Strategy • Consumer • Diversified • Utilities THAI Quang Trung, CFA, Deputy Manager, Institutional Research (84) 8 44 555 888 x 8180
[email protected] • Real Estate • Construction • Materials Le Nguyen Nhat Chuyen (84) 8 44 555 888 x 8082
[email protected] • Oil & Gas NGUYEN Thi Ngan Tuyen, Head of Retail Research (84) 8 44 555 888 x 8081
[email protected] • Food & Beverage • Oil&Gas • Banking TRINH Thi Ngoc Diep (84) 4 44 555 888 x 8208
[email protected] • Technology • Utilities • Construction TRUONG Quang Binh (84) 4 44 555 888 x 8087
[email protected] • Rubber plantation • Tyres and Tubes • Oil&Gas PHAM Nhat Bich (84) 8 44 555 888 x 8083
[email protected] • Consumer • Manufacturing • Fishery NGUYEN Thi Sony Tra Mi (84) 8 44 555 888 x 8084
[email protected] • Port operation • Pharmaceutical • Food & Beverage
Sittichai DUANGRATTANACHAYA (66) 2658 6300 ext 1393
[email protected] • Services Sector • Transport Sukit UDOMSIRIKUL Head of Retail Research (66) 2658 6300 ext 5090
[email protected]
LEE Cheng Hooi Regional Chartist (603) 2297 8694
[email protected]
Mayuree CHOWVIKRAN (66) 2658 6300 ext 1440
[email protected] • Strategy
Apr 29, 2015
Surachai PRAMUALCHAROENKIT (66) 2658 6300 ext 1470
[email protected] • Auto • Conmat • Contractor • Steel
Kittisorn PRUITIPAT, CFA, FRM (66) 2658 6300 ext 1395
[email protected] • Real Estate • Telcos
Kevin WONG (603) 2082 6824
[email protected] • REITs
Tee Sze Chiah Head of Retail Research (603) 2297 6858
[email protected]
Padon VANNARAT (66) 2658 6300 ext 1450
[email protected] • Strategy
44
Malaysia : NTP Report Cards APPENDIX I: TERMS FOR PROVISION OF REPORT, DISCLAIMERS AND DISCLOSURES DISCLAIMERS This research report is prepared for general circulation and for information purposes only and under no circumstances should it be considered or intended as an offer to sell or a solicitation of an offer to buy the securities referred to herein. Investors should note that values of such securities, if any, may fluctuate and that each security’s price or value may rise or fall. Opinions or recommendations contained herein are in form of technical ratings and fundamental ratings. Technical ratings may differ from fundamental ratings as technical valuations apply different methodologies and are purely based on price and volume-related information extracted from the relevant jurisdiction’s stock exchange in the equity analysis. Accordingly, investors’ returns may be less than the original sum invested. Past performance is not necessarily a guide to future performance. This report is not intended to provide personal investment advice and does not take into account the specific investment objectives, the financial situation and the particular needs of persons who may receive or read this report. Investors should therefore seek financial, legal and other advice regarding the appropriateness of investing in any securities or the investment strategies discussed or recommended in this report. The information contained herein has been obtained from sources believed to be reliable but such sources have not been indepe ndently verified by Maybank Investment Bank Berhad, its subsidiary and affiliates (collectively, “MKE”) and consequently no representation is made as to the accuracy or completeness of this report by MKE and it should not be relied upon as such. Accordingly, MKE and its officers, directors, associates, connec ted parties and/or employees (collectively, “Representatives”) shall not be liable for any direct, indirect or consequential losses or damages that may arise from the use or reli ance of this report. Any information, opinions or recommendations contained herein are subject to change at any time, without prior notice. This report may contain forward looking statements which are often but not always identified by the use of words such as “anticipate”, “believe”, “estimate”, “intend”, “plan”, “expect”, “forecast”, “predict” and “project” and statements that an event or result “may”, “will”, “can”, “should”, “could” or “might” occur or be achieved and other similar expressions. Such forward looking statements are based on assumptions made and information currently available to us and are subject to certain risks and uncertainties that could cause the actual results to differ materially from those expressed in any forward looking statements. Readers are cautioned not to place undue relevance on these forward-looking statements. MKE expressly disclaims any obligation to update or revise any such forward looking statements to reflect new information, events or circumstances after the date of this publica tion or to reflect the occurrence of unanticipated events. MKE and its officers, directors and employees, including persons involved in the preparation or issuance of this report, may, to the extent permitted by law, from time to time participate or invest in financing transactions with the issuer(s) of the securities mentioned in this repo rt, perform services for or solicit business from such issuers, and/or have a position or holding, or other material interest, or effect transactions, in such se curities or options thereon, or other investments related thereto. In addition, it may make markets in the securities mentioned in the material presented in this report. MKE may, to the extent permitted by law, act upon or use the information presented herein, or the research or analysis on which they are based, befo re the material is published. One or more directors, officers and/or employees of MKE may be a director of the issuers of the securities mentioned in this report. This report is prepared for the use of MKE’s clients and may not be reproduced, altered in any way, transmitted to, copied or distributed to any other party in whole or in part in any form or manner without the prior express written consent of MKE and MKE and its Representatives accepts no liability whatsoever for the actions of third parties in this respect. This report is not directed to or intended for distribution to or use by any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation. This report is for distribution only under such circumstances as may be permitted by applicable law. The securities described herein may not be eligible for sale in all jurisdictions or to certain categories of investors. Without prejudice to the foregoing, the reader is to note that additional disclaimers, warnings or qualifications may apply based on geographical location of the person or entity receiving this report. Malaysia Opinions or recommendations contained herein are in the form of technical ratings and fundamental ratings. Technical ratings may differ from fundamental ratings as technical valuations apply different methodologies and are purely based on price and volume-related information extracted from Bursa Malaysia Securities Berhad in the equity analysis. Singapore This report has been produced as of the date hereof and the information herein may be subject to change. Maybank Kim Eng Rese arch Pte. Ltd. (“Maybank KERPL”) in Singapore has no obligation to update such information for any recipient. For distribution in Singapore, recipients of this report are to contact Maybank KERPL in Singapore in respect of any matters arising from, or in connection with, this report. If the recipient of th is report is not an accredited investor, expert investor or institutional investor (as defined under Section 4A of the Singapore Securities and Futures Act), Maybank KERPL shall be legally liable for the contents of this report, with such liability being limited to the extent (if any) as permitted by law. Thailand The disclosure of the survey result of the Thai Institute of Directors Association (“IOD”) regarding corporate governance is made pursuant to the policy of the Office of the Securities and Exchange Commission. The survey of the IOD is based on the information of a company listed on the Stock Exchange of Thailand and the market for Alternative Investment disclosed to the public and able to be accessed by a general public investor. The r esult, therefore, is from the perspective of a third party. It is not an evaluation of operation and is not based on inside information. The survey result is as of the date appearing in the Corporate Governance Report of Thai Listed Companies. As a result, the survey may be changed after that date. Maybank Kim Eng Securities (Thailand) Public Company Limited (“MBKET”) does not confirm nor certify the accuracy of such survey result. Except as specifically permitted, no part of this presentation may be reproduced or distributed in any manner without the pri or written permission of MBKET. MBKET accepts no liability whatsoever for the actions of third parties in this respect. US This research report prepared by MKE is distributed in the United States (“US”) to Major US Institutional Investors (as defin ed in Rule 15a-6 under the Securities Exchange Act of 1934, as amended) only by Maybank Kim Eng Securities USA Inc (“Maybank KESUSA”), a broker-dealer registered in the US (registered under Section 15 of the Securities Exchange Act of 1934, as amended). All responsibility for the distribution of this report by Maybank KESUSA in the US shall be borne by Maybank KESUSA. All resulting transactions by a US person or entity should be effected through a registered broker-dealer in the US. This report is not directed at you if MKE is prohibited or restricted by any legislation or regulation in any jurisdiction from making it available to you. You should satisfy yourself before reading it that Maybank KESUSA is permitted to provide research material concerning investments to you under relevant legislation and regulations. UK This document is being distributed by Maybank Kim Eng Securities (London) Ltd (“Maybank KESL”) which is authorized and regula ted, by the Financial Services Authority and is for Informational Purposes only. This document is not intended for distribution to anyone defined as a Retail Client under the Financial Services and Markets Act 2000 within the UK. Any inclusion of a third party link is for the recipients convenience only, and that the firm does not take any responsibility for its comments or accuracy, and that access to such links is at the individuals own risk. Nothing in this report should be consider ed as constituting legal, accounting or tax advice, and that for accurate guidance recipients should consult with their own indepe ndent tax advisers.
Apr 29, 2015
45
Malaysia : NTP Report Cards DISCLOSURES Legal Entities Disclosures Malaysia: This report is issued and distributed in Malaysia by Maybank Investment Bank Berhad (15938-H) which is a Participating Organization of Bursa Malaysia Berhad and a holder of Capital Markets and Services License issued by the Securities Commission in Malaysia. Singapore: This material is issued and distributed in Singapore by Maybank KERPL (Co. Reg No 197201256N) which is regulated by the Monetary Authority of Singapore. Indonesia: PT Kim Eng Securities (“PTKES”) (Reg. No. KEP-251/PM/1992) is a member of the Indonesia Stock Exchange and is regulated by the BAPEPAM LK. Thailand: MBKET (Reg. No.0107545000314) is a member of the Stock Exchange of Thailand and is regulated by the Ministry of Finance and the Securities and Exchange Commission. Philippines: Maybank ATRKES (Reg. No.01-2004-00019) is a member of the Philippines Stock Exchange and is regulated by the Securities and Exchange Commission. Vietnam: Maybank Kim Eng Securities JSC (License Number: 71/UBCK-GP) is licensed under the State Securities Commission of Vietnam.Hong Kong: KESHK (Central Entity No AAD284) is regulated by the Securities and Futures Commission. India: Kim Eng Securities India Private Limited (“KESI”) is a participant of the National Stock Exchange of India Limited (Reg No: INF/INB 231452435) and the Bombay Stock Exchange (Reg. N o. INF/INB 011452431) and is regulated by Securities and Exchange Board of India. KESI is also registered with SEBI as Category 1 Merchant Banker (Reg. No. INM 000011708) US: Maybank KESUSA is a member of/ and is authorized and regulated by the FINRA – Broker ID 27861. UK: Maybank KESL (Reg No 2377538) is authorized and regulated by the Financial Services Authority.
Disclosure of Interest Malaysia: MKE and its Representatives may from time to time have positions or be materially interested in the securities referred to he rein and may further act as market maker or may have assumed an underwriting commitment or deal with such securities and may also perform or seek to perform investment banking services, advisory and other services for or relating to those companies. Singapore: As of 8 January 2014, Maybank KERPL and the covering analyst do not have any interest in any companies recommended in this research report. Thailand: MBKET may have a business relationship with or may possibly be an issuer of derivative warrants on the securities /companies mentioned in the research report. Therefore, Investors should exercise their own judgment before making any investment decisions. MBKET, its associates, directors, connected parties and/or employees may from time to time have interests and/or underwriting commitments in the securities mentioned in this report. Hong Kong: KESHK may have financial interests in relation to an issuer or a new listing applicant referred to as defined by the requirements under Paragraph 16.5(a) of the Hong Kong Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission. As of 8 January 2014, KESHK and the authoring analyst do not have any interest in any companies recommended in this research report. MKE may have, within the last three years, served as manager or co-manager of a public offering of securities for, or currently may make a primary market in issues of, any or all of the entities mentioned in this report or may be providing, or have provided within the previous 12 months, significant advice or investment services in relation to the investment concerned or a related investment and may receive compensa tion for the services provided from the companies covered in this report.
OTHERS Analyst Certification of Independence The views expressed in this research report accurately reflect the analyst’s personal views about any and all of the subject securities or issuers; and no part of the research analyst’s compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in the report. Reminder Structured securities are complex instruments, typically involve a high degree of risk and are intended for sale only to sophisticated investors who are capable of understanding and assuming the risks involved. The market value of any structured security may be affected by changes in economic, financial and political factors (including, but not limited to, spot and forward interest and exchange rates), time to maturity, market conditions and volatility and the credit quality of any issuer or reference issuer. Any investor interested in purchasing a structured product should conduct its own analysis of the product and consult with its own professional advisers as to the risks involved in making such a purchase. No part of this material may be copied, photocopied or duplicated in any form by any means or redistributed without the prior consent of MKE.
Definition of Ratings Maybank Kim Eng Research uses the following rating system BUY Return is expected to be above 10% in the next 12 months (excluding dividends) HOLD Return is expected to be between - 10% to +10% in the next 12 months (excluding dividends) SELL Return is expected to be below -10% in the next 12 months (excluding dividends)
Applicability of Ratings The respective analyst maintains a coverage universe of stocks, the list of which may be adjusted according to needs. Investment ratings are only applicable to the stocks which form part of the coverage universe. Reports on companies which are not part of the coverage do not carry investment ratings as we do not actively follow developments in these companies.
Apr 29, 2015
46
Malaysia : NTP Report Cards Malaysia
Singapore
Maybank Investment Bank Berhad
Maybank Kim Eng Securities Pte Ltd
(A Participating Organisation of Bursa Malaysia Securities Berhad) 33rd Floor, Menara Maybank, 100 Jalan Tun Perak, 50050 Kuala Lumpur Tel: (603) 2059 1888; Fax: (603) 2078 4194
Maybank Kim Eng Research Pte Ltd
Stockbroking Business:
Level 8, Tower C, Dataran Maybank, No.1, Jalan Maarof 59000 Kuala Lumpur Tel: (603) 2297 8888 Fax: (603) 2282 5136
Philippines Maybank ATR Kim Eng Securities Inc. 17/F, Tower One & Exchange Plaza Ayala Triangle, Ayala Avenue Makati City, Philippines 1200 Tel: (63) 2 849 8888 Fax: (63) 2 848 5738
50 North Canal Road Singapore 059304 Tel: (65) 6336 9090
Hong Kong
New York
Maybank Kim Eng Securities (London) Ltd
Maybank Kim Eng Securities USA Inc
5th Floor, Aldermary House 10-15 Queen Street London EC4N 1TX, UK
777 Third Avenue, 21st Floor New York, NY 10017, U.S.A.
Tel: (44) 20 7332 0221 Fax: (44) 20 7332 0302
Indonesia
Tel: (212) 688 8886 Fax: (212) 688 3500
India
Kim Eng Securities (HK) Ltd
PT Maybank Kim Eng Securities
Kim Eng Securities India Pvt Ltd
Level 30, Three Pacific Place, 1 Queen’s Road East, Hong Kong
Plaza Bapindo Citibank Tower 17th Floor Jl Jend. Sudirman Kav. 54-55 Jakarta 12190, Indonesia
2nd Floor, The International 16, Maharishi Karve Road, Churchgate Station, Mumbai City - 400 020, India
Tel: (852) 2268 0800 Fax: (852) 2877 0104
Tel: (62) 21 2557 1188 Fax: (62) 21 2557 1189
Tel: (91) 22 6623 2600 Fax: (91) 22 6623 2604
Thailand Maybank Kim Eng Securities (Thailand) Public Company Limited 999/9 The Offices at Central World, 20th - 21st Floor, Rama 1 Road Pathumwan, Bangkok 10330, Thailand Tel: (66) 2 658 6817 (sales) Tel: (66) 2 658 6801 (research)
South Asia Sales Trading
London
Vietnam Maybank Kim Eng Securities Limited 4A-15+16 Floor Vincom Center Dong Khoi, 72 Le Thanh Ton St. District 1 Ho Chi Minh City, Vietnam Tel : (84) 844 555 888 Fax : (84) 8 38 271 030
Saudi Arabia In association with
Anfaal Capital Villa 47, Tujjar Jeddah Prince Mohammed bin Abdulaziz Street P.O. Box 126575 Jeddah 21352 Tel: (966) 2 6068686 Fax: (966) 26068787
North Asia Sales Trading
Kevin Foy Regional Head Sales Trading
[email protected] Tel: (65) 6336-5157 US Toll Free: 1-866-406-7447
Alex Tsun
[email protected] Tel: (852) 2268 0228 US Toll Free: 1 877 837 7635
Malaysia
Thailand
Rommel Jacob
[email protected] Tel: (603) 2717 5152
Tanasak Krishnasreni
[email protected] Tel: (66)2 658 6820
Indonesia Harianto Liong
[email protected] Tel: (62) 21 2557 1177
New York
India
Andrew Dacey
[email protected] Tel: (212) 688 2956
Manish Modi
[email protected] Tel: (91)-22-6623-2601
Vietnam
Philippines
Tien Nguyen
Keith Roy
[email protected] Tel: (63) 2 848-5288
[email protected]
Tel: (84) 44 555 888 x8079
Apr 29, 2015
www.maybank-ke.com | www.maybank-keresearch.com
47