Its all about the issue of bonds Aug 8, 2009
63bil soft loan from the Federal Government. Next year, PKA will have to make its biggest payment yet to Kuala Dimensi totalling RM722. (The Star Online, Malaysia)
Frozen food processors demand RM500mil loan Jul 29, 2009
BUTTERWORTH: The Malaysian Frozen Foods Processors Association yesterday urged the government to quickly disburse the RM500mil soft loan promised to the seafood and frozen food industry players. Chairman Ch ng Chin Hooi said the government announced the relief package following the export ban on such products to the European Union (EU) 14 months ago but no industry players had benefited from it. (The Star Online, Malaysia -- Business)
Frozen food processors want Najib to intervene Jul 28, 2009
Chng also said that MFFPA members were disappointed when they recently learnt that a rescue package from the Federal Government was not a soft loan but an ordinary loan similar to the one offered by commercial banks. He said the Agro Bank informed the association in the October last year that the Ministry of Finance would grant members a RM500mil soft loan ... The soft loan amount, up to four times the companies paid up capital, was supposed to have flexible conditions. (The Star Online, Malaysia)
Govt asks FM, petroleum ministry to lend support to AI Jul 26, 2009
The national carrier is understood to be seeking a soft loan of Rs 3,000 crore from the government, apart from equity infusion. The airline has ordered 111 aircraft at a cost of over Rs 50,000 crore but has an equity base of only Rs 145 crore. (India Times, India -- Intl Business)
Cuepacs wants to take over deduction service for govt loans Jul 26, 2009
"Maybe the government can give us a soft loan which we can easily repay within a short period when our system is up and running," he said. Meanwhile, it is understood that both the Treasury and Accountant-General's Office are receptive to the proposal and willing to assist Cuepacs if the goverment approves the scheme. (The Star Online, Malaysia -- News)
Air India asks for Rs 20,000 crore bailout Jul 26, 2009
AI is also learnt to be looking at an immediate soft loan of about Rs 10,000 crore from the government. The airline currently has an equity base of Rs 145 crore. (India Times, India)
China 'stumbling' in the Pacific Jul 25, 2009
China "should seize the opportunity presented by the diplomatic truce ushered in by the election of President Ma to refocus its Pacific aid programme Fergus Hanson, Lowy Institute for International Policy "China pledges aid in an erratic manner, funds projects without regard to recurring costs, and the secrecy surrounding its programme obstructs development outcomes, and breeds suspicion," it says. Details of China's aid budgets are considered a state secret, it adds, although it appends a full... (BBC News -- Asia-Pacific)
Praful Patel comes under attack in RS for poor health of AI Jul 15, 2009
While ignoring a majority of pointed queries by members, Patel said the government was planning equity infusion in AI and soft loan, something that has never been done in its 60-year history. He justified acquisition of new fleet on the ground that it was ageing and despite new arrivals, only 55 of 111 have come, average age of planes is 15 years. (India Times, India -- Community News)
Air India-Indian Airlines loss at Rs 7200 crore: Patel Jul 15, 2009
"In the post merger period, a plan for an IPO was mooted but the market conditions then were not conducive to this process. It is in this background that an equity infusion and soft loan by the government as a measure of softening the adverse financial situation is contemplated," Patel said. Read business stories in. (India Times)
SME Corp to clear backlog of approvals Jul 11, 2009
KUALA LUMPUR: There is a backlog of soft loan approvals to small and medium-scale enterprises (SMEs) compared with the number of applications that have been submitted to the Small and Medium Industries Development Corp (Smidec), according to Deputy International Trade and Industry Minister Datuk Mukhriz Mahathir ... Mukhriz said that as at May 2009, of 1,371 applications received under the soft loan programme for SMEs, 750 had been approved for the amount of RM428 ... For the soft loans for... (The Star Online, Malaysia)
Ayariga & Co Are Not Social Democrats Jul 7, 2009
Indeed like many others, as Kwamena Bartels- the former information minister and a chairman of a panel that operated government/private loan scheme forcefully attempted to defend the justification in allocating soft loan to her daughter and boyfriend, Ayariga insists there had been no inside trading between him and the political leadership at Agric Ministry. Yet, we are persuade by the ongoing perception that the current bidding, as Mr Banguras suspicions and appeal to the President... (Ghana Web, Ghana)
Protest as Senate okays $10m loan for Sao Tome and Principe Jun 26, 2009
In seeking approval for the loan, Yar'Adua had explained: "Sao Tome and Principe has a previous record of prompt repayment as was evidenced in the case of a similar loan of $15 million, granted between 2002 and 2004. The loan was fully repaid according to the terms of the loan in April 2007. Repayment will be from the Production Sharing Contract (PSC), in respect of the JDZ oil concessions, in which there are revenues from signature bonuses, sales of seismic data, royalties and taxes. By the... (Guardian News, Nigeria)
Parliament: Hysterical outburst over PKFZ report Jun 22, 2009
2bil soft loan for the project ... 2bil was part of the soft loan extended to the Port Klang Authority by the Finance MInistry back in 2007 when he had yet to assume the post. (The Star Online, Malaysia)
Europe considers Airbus soft loan Jun 17, 2009
1bn) in soft loans to help develop the A350 long-range aircraft ... Spain was not present at a ministerial meeting at the Paris air show on Monday night, so a final agreement on the overall soft loans package was not reached ... Mr Novick said that without soft loans, the A350 would not have been as commercially viable. (BBC News -- Europe)
China offers Sime Darby multi-billion development project Jun 5, 2009
The China Government in return, was willing to offer soft loans for this project from a US$10bil fund they had set aside for infrastructure projects meant for Asean countries ... The first progress payment of RM300mil has already been paid and we are now studying the details of the soft loan being offered by the Chinese Government for this project, he added. (The Star Online, Malaysia -- News)
Malaysia's opposition on a roll Jun 3, 2009
But its execution was dogged by "cost escalations, weak governance and weak projection management", which severely undermined both the viability of the project and the Port Klang Authority's ability to repay a soft loan to the Finance Ministry. Ballooning interest payments could result in the project outlay increasing from 3. (Asia Times Online)
Cabinet, board not aware of decisions May 29, 2009
The report also highlighted that the interest on the soft loan from the Ministry of Finance (MOF) would increase the project outlay from RM4 ... 453bil has not taken into account potential additional interest which might arise if PKA was unable to meet the scheduled instalments on the soft loan. (The Star Online, Malaysia -- Business)
PricewaterhouseCoopers reveals wide-ranging critique of how the PKFZ project was mismanaged May 29, 2009
The interest costs include interest on deferred payments to Kuala Dimensi Sdn Bhd (KDSB), the turnkey developer for PKFZ, and interest on a 20-year soft loan from the Ministry of Finance (MOF). Cashflow projections prepared by the Port Klang Authority (PKA) showed it would be in a cash deficit position from 2012. (The Star Online, Malaysia -- Business)
Three main areas for PKA board’s immediate focus May 29, 2009
On the financing structure, PwC said PKA must restructure the Finance Ministry s soft loan to avoid a potential default in 2012. Some of the restructuring options it may consider could involve a combination of loan rescheduling, Government grant and privatisation, it added. (The Star Online, Malaysia -- Business)
South Africa: Treasury Will Retain Powers, Says Top Official May 14, 2009
AfDB president Donald Kaberuka also asked the bank's directors to increase its soft loan capacity in order to support poorer states. The request to prop up its capital base comes after a joint international financial institution action plan to pool and leverage resources to help African countries as the global crisis wreaks havoc. (allAfrica.com)
Colombo sticks to its guns May 12, 2009
Rajapaksa suceeded in getting a $500 million soft loan from the Libyan government during his visit to Tripoli late last month. The president is on the lookout for more countries to bail his country out - he is currently in Jordan and is expected to drop in on other Asian friends. (Asia Times Online)
Cheap loan for water project tied to award of jobs to Japanese May 6, 2009
The soft loan, which would carry an interest rate of about 1%, is understood in the industry as being tied to a condition that Japanese contractors be awarded substantial portions of the project ... The industry expects that Japanese contractors would also lead the bids to construct the RM3bil Kelau Dam in Pahang, a component of the water transfer project, because it will also be financed by a soft loan from JBIC.. (The Star Online, Malaysia -- Business)
First Bankshares, Inc., Parent of SuffolkFirst Bank, Reports 12 Cents Per Share After Tax Income for the 1st Quarter Ended March 31, 2009 Apr 29, 2009
This modest decline is the result of a soft loan demand in the 1st quarter 2009, and in comparison to 1st quarter end March 31, 2009 vs. December 31, 2008, assets declined by 5. 45% primarily for the same reason. (PR Newswire)
Dark victory Apr 28, 2009
As a result, Sri Lanka, one of Asia s oldest democracies, has been driven to seek other friends: Pakistan, its main arms-supplier; Iran, which has been providing 70% of its oil supply on tick; and Libya, from which it expects a soft loan of $500m to arrive soon. That cash would be welcome, but insufficient to avert a looming solvency crisis. (The Economist)
Mida sets up RM100mil services sector fund Apr 14, 2009
Jalilah said the fund would be topped up if needed, and RM50mil from the fund would be allocated for matching grants, with the remaining RM50mil for soft loans ... Malaysian Industrial Development Finance Bhd will disburse the RM50mil under the soft loan scheme, she said, adding that Mida expected the RM100mil to be fully disbursed by September. (The Star Online, Malaysia -- Business)
The upcoming Tokyo Donors` Conference might pledge $4 billion to Pakistan over the next two years Apr 14, 2009
Yoshikawa said a bilateral meeting would be held during President Asif Zardaris visit to Japan and during the meeting the Japanese prime minister would announce assistance to Pakistan in the shape of a soft loan. Earlier, Yoshikawa called on President Zardari and discussed the upcoming meeting of the Friends of Democratic Pakistan forum due in Tokyo on April 17, as well as the regional situation, bilateral ties and mutual cooperation. (Daily Times, Pakistan)
Police report a new e-mail scam Apr 8, 2009
The e-mail continues to state the businessperson needs a soft loan for 3,700 and is waiting for replies from the people on the business e-mail contact list. Collings stated the local business owner received calls on her cell phone Monday evening asking if she indeed needed the funds. (Williston Daily Herald, ND)
U.S.$ 55.8 Million Loan for Markets and Trade Improvement Project Mar 26, 2009
Tunis Approved on Wednesday in Tunis by the Board of Directors of the African Development Fund, the soft loan window of the African Development Bank (AfDB) Group, the funding will be used to improve marketplace economic and social infrastructure for about 900,000 households in 19 districts in the country. The project is designed to leverage poverty reduction efforts and economic growth through enhanced commercialization of agricultural produce and other merchandise in the country. (allAfrica.com)
Ministrys five-year plan to boost bumi businesses Mar 24, 2009
On the ministry s efforts to reduce the burden of small-and-medium enterprises (SMEs) due to the reduction in gas and fuel subsidies, he said MIDF had reduced the interest for several soft loan schemes offered to the SMEs. He said following the measure, there had been an increase in loan approvals for SMEs in the second half of 2008 (210) compared with the first half of 2008 (145). (The Star Online, Malaysia)
Treasury let stricken Northern Ro... Mar 20, 2009
Europe, & in perticular the USA have given their banks soft loan type facilities at low rates. The Government has over nationalised RBS & Lloyds Bank. (New York Post -- Business)
Frozen food processors ask ministry to conclude audit quickly Mar 18, 2009
Chng also urged Agro Bank to quickly release the RM500mil soft loan already approved by the Cabinet for MFFPA members. The loan, approved last August, is to help our members whose businesses were affected by the ban, he said. (The Star Online, Malaysia -- Business)
Nigeria: China Reneges On $2.5 Billion Rail Contract Pact With FG Mar 14, 2009
2 billion is dedicated as soft loan to Nigeria for the execution of the first phase of the double track Lagos-Kano rail project covering 1,315 kilometres which was awarded to CCECC.. comments. (allAfrica.com)
Istithmar set to launch fresh asset sales Mar 9, 2009
The sales come as rising concerns about Dubais debt repayments and cash flow issues sparked a $10bn soft loan from the federal government of the United Arab Emirates last month. Istithmar, part of the Dubai World conglomerate that includes offshore developer Nakheel, says the financial crisis has affected the groups assets under management, which were down 10 per cent, or $800m to $9bn during 2008. (FT.com -- Markets)
Nigeria: Nigerian Scammers - a Contrary View Mar 6, 2009
Recently we read that Nigerian scammers have started hacking into people's email accounts, including the Hotmail account of the British Justice Secretary, Jack Straw, who was said to have been stranded in Lagos, and needed a 'soft loan' to help him settle his hotel bill and get back home. Looking beyond the crime, which must be condemned, there is also a certain glee that Nigerians are now beginning to join the technological revolution, that despite the rot in our education system some kids out... (allAfrica.com)
Cabinet Minister Needs Cash: The Jack Straw Scam Feb 26, 2009
"I misplaced my wallet on my way to the hotel where my money and other valuable things were kept. I would like you to assist me with a soft loan urgently with the sum of $3,000 US Dollars to settle my hotel bills and get myself back home." The plea came from "The Right Hon Jack Straw MP.". The clunky syntax and odd phrasing provided strong clues that the usually eloquent pol (currently both Lord High Chancellor of Great Britain and Secretary of State for Justice) wasn't quite himself. (Time.com)
British minister targeted by Internet fraudsters: report Feb 25, 2009
The fake e-mail, issued under the heading The Right Hon Jack Straw MP, said: "I misplaced my wallet on my way to the hotel where my money and other valuable things were kept." "I would like you to assist me with a soft loan urgently to settle my hotel bills and get myself back home". It claimed that Straw, a former home secretary and foreign secretary, was visiting Lagos for a project called Empowering Youth to Fight Racism, though he was in fact in Britain. (Yahoo! Asia News)
Straw hit by internet fraudsters Feb 25, 2009
I would like you to assist me with a soft loan urgently to settle my hotel bills and get myself back home. Fake email sent to Jack Straw's contacts. (BBC News -- Technology)
Pakistan and China: A Fraying Friendship? Feb 20, 2009
While Beijing did grant Islamabad a soft loan last year worth $500 million, it was nowhere near the estimated $14 billion experts say is needed to get Pakistan back on its feet. "The cooperation we saw during the Musharraf era just isn't there anymore," says Sayem Ali, an economist with Standard Chartered Bank in Karachi. (Time.com)
Moscow, Tehran force US's hand Feb 7, 2009
He said this after talks with Russian President Dmitry Medvedev, during which Moscow pledged to Bishkek that it was writing off $180 million debt and would also provide Kyrgyzstan with a $2 billion soft loan and an outright grant of $150 million. NATO's envoy to Central Asia, Robert Simmons, rushed to Bishkek in a last-ditch attempt to stall the Kyrgyz move, but only to regret the development and admit that NATO's Afghan operations would be adversely affected. (Asia Times Online)
