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BIODATA - NIK ZAFRI


 



NIK ZAFRI BIN ABDUL MAJID,
CONSULTANT/TRAINER
Email: nikzafri@yahoo.com, nikzafri@gmail.com
https://nikzafri.wixsite.com/nikzafri

Kelantanese, Alumni of Sultan Ismail College Kelantan (SICA), IT Competency Cert, Certified Written English Professional US. Has participated in many seminars/conferences (local/ international) in the capacity of trainer/lecturer and participant.

Affiliations :- Network Member of Gerson Lehrman Group, Institute of Quality Malaysia, Auditor ISO 9000 IRCAUK, Auditor OHSMS (SIRIM and STS) /EMS ISO 14000 and Construction Quality Assessment System CONQUAS, CIDB (Now BCA) Singapore),

* Possesses almost 30 years of experience/hands-on in the multi-modern management & technical disciplines (systems & methodologies) such as Knowledge Management (Hi-Impact Management/ICT Solutions), Quality (TQM/ISO), Safety Health Environment, Civil & Building (Construction), Manufacturing, Motivation & Team Building, HR, Marketing/Branding, Business Process Reengineering, Economy/Stock Market, Contracts/Project Management, Finance & Banking, etc. He was employed to international bluechips involving in national/international megaprojects such as Balfour Beatty Construction/Knight Piesold & Partners UK, MMI Insurance Group Australia, Hazama Corporation (Hazamagumi) Japan (with Mitsubishi Corporation, JA Jones US, MMCE and Ho-Hup) and Sunway Construction Berhad (The Sunway Group of Companies). Among major projects undertaken : Pergau Hydro Electric Project, KLCC Petronas Twin Towers, LRT Tunnelling, KLIA, Petronas Refineries Melaka, Putrajaya Government Complex, Sistem Lingkaran Lebuhraya Kajang (SILK), Mex Highway, KLIA1, KLIA2 etc. Once serviced SMPD Management Consultants as Associate Consultant cum Lecturer for Diploma in Management, Institute of Supervisory Management UK/SMPD JV. Currently – Associate/Visiting Consultants/Facilitators, Advisors for leading consulting firms (local and international) including project management. To name a few – Noma SWO Consult, Amiosh Resources, Timur West Consultant Sdn. Bhd., TIJ Consultants Group (Malaysia and Singapore) and many others.

* Ex-Resident Weekly Columnist of Utusan Malaysia (1995-1998) and have produced more than 100 articles related to ISO-9000– Management System and Documentation Models, TQM Strategic Management, Occupational Safety and Health (now OHSAS 18000) and Environmental Management Systems ISO 14000. His write-ups/experience has assisted many students/researchers alike in module developments based on competency or academics and completion of many theses. Once commended by the then Chief Secretary to the Government of Malaysia for his diligence in promoting and training the civil services (government sector) based on “Total Quality Management and Quality Management System ISO-9000 in Malaysian Civil Service – Paradigm Shift Scalar for Assessment System”

Among Nik Zafri’s clients : Adabi Consumer Industries Sdn. Bhd, (MRP II, Accounts/Credit Control) The HQ of Royal Customs and Excise Malaysia (ISO 9000), Veterinary Services Dept. Negeri Sembilan (ISO 9000), The Institution of Engineers Malaysia (Aspects of Project Management – KLCC construction), Corporate HQ of RHB (Peter Drucker's MBO/KRA), NEC Semiconductor - Klang Selangor (Productivity Management), Prime Minister’s Department Malaysia (ISO 9000), State Secretarial Office Negeri Sembilan (ISO 9000), Hidrological Department KL (ISO 9000), Asahi Kluang Johor(System Audit, Management/Supervisory Development), Tunku Mahmood (2) Primary School Kluang Johor (ISO 9000), Consortium PANZANA (HSSE 3rd Party Audit), Lecturer for Information Technology Training Centre (ITTC) – Authorised Training Center (ATC) – University of Technology Malaysia (UTM) Kluang Branch Johor, Kluang General Hospital Johor (Management/Supervision Development, Office Technology/Administration, ISO 9000 & Construction Management), Kahang Timur Secondary School Johor (ISO 9000), Sultan Abdul Jalil Secondary School Kluang Johor (Islamic Motivation and Team Building), Guocera Tiles Industries Kluang Johor (EMS ISO 14000), MNE Construction (M) Sdn. Bhd. Kota Tinggi Johor (ISO 9000 – Construction), UITM Shah Alam Selangor (Knowledge Management/Knowledge Based Economy /TQM), Telesystem Electronics/Digico Cable(ODM/OEM for Astro – ISO 9000), Sungai Long Industries Sdn. Bhd. (Bina Puri Group) - ISO 9000 Construction), Secura Security Printing Sdn. Bhd,(ISO 9000 – Security Printing) ROTOL AMS Bumi Sdn. Bhd & ROTOL Architectural Services Sdn. Bhd. (ROTOL Group) – ISO 9000 –Architecture, Bond M & E (KL) Sdn. Bhd. (ISO 9000 – Construction/M & E), Skyline Telco (M) Sdn. Bhd. (Knowledge Management),Technochase Sdn. Bhd JB (ISO 9000 – Construction), Institut Kefahaman Islam Malaysia (IKIM – ISO 9000 & Internal Audit Refresher), Shinryo/Steamline Consortium (Petronas/OGP Power Co-Generation Plant Melaka – Construction Management and Safety, Health, Environment), Hospital Universiti Kebangsaan Malaysia (Negotiation Skills), Association for Retired Intelligence Operatives of Malaysia (Cyber Security – Arpa/NSFUsenet, Cobit, Till, ISO/IEC ISMS 27000 for Law/Enforcement/Military), T.Yamaichi Corp. (M) Sdn. Bhd. (EMS ISO 14000) LSB Manufacturing Solutions Sdn. Bhd., (Lean Scoreboard (including a full development of System-Software-Application - MSC Malaysia & Six Sigma) PJZ Marine Services Sdn. Bhd., (Safety Management Systems and Internal Audit based on International Marine Organization Standards) UNITAR/UNTEC (Degree in Accountacy – Career Path/Roadmap) Cobrain Holdings Sdn. Bhd.(Managing Construction Safety & Health), Speaker for International Finance & Management Strategy (Closed Conference), Pembinaan Jaya Zira Sdn. Bhd. (ISO 9001:2008-Internal Audit for Construction Industry & Overview of version 2015), Straits Consulting Engineers Sdn. Bhd. (Full Integrated Management System – ISO 9000, OHSAS 18000 (ISO 45000) and EMS ISO 14000 for Civil/Structural/Geotechnical Consulting), Malaysia Management & Science University (MSU – (Managing Business in an Organization), Innoseven Sdn. Bhd. (KVMRT Line 1 MSPR8 – Awareness and Internal Audit (Construction), ISO 9001:2008 and 2015 overview for the Construction Industry), Kemakmuran Sdn. Bhd. (KVMRT Line 1 - Signages/Wayfinding - Project Quality Plan and Construction Method Statement ), Lembaga Tabung Haji - Flood ERP, WNA Consultants - DID/JPS -Flood Risk Assessment and Management Plan - Prelim, Conceptual Design, Interim and Final Report etc., Tunnel Fire Safety - Fire Risk Assessment Report - Design Fire Scenario), Safety, Health and Environmental Management Plans leading construction/property companies/corporations in Malaysia, Timur West Consultant : Business Methodology and System, Information Security Management Systems (ISMS) ISO/IEC 27001:2013 for Majlis Bandaraya Petaling Jaya ISMS/Audit/Risk/ITP Technical Team, MPDT Capital Berhad - ISO 9001: 2015 - Consultancy, Construction, Project Rehabilitation, Desalination (first one in Malaysia to receive certification on trades such as Reverse Osmosis Seawater Desalination and Project Recovery/Rehabilitation)

* Has appeared for 10 consecutive series in “Good Morning Malaysia RTM TV1’ Corporate Talk Segment discussing on ISO 9000/14000 in various industries. For ICT, his inputs garnered from his expertise have successfully led to development of work-process e-enabling systems in the environments of intranet, portal and interactive web design especially for the construction and manufacturing. Some of the end products have won various competitions of innovativeness, quality, continual-improvements and construction industry award at national level. He has also in advisory capacity – involved in development and moderation of websites, portals and e-profiles for mainly corporate and private sectors, public figures etc. He is also one of the recipients for MOSTE Innovation for RFID use in Electronic Toll Collection in Malaysia.

Note :


TO SEE ALL ARTICLES

ON THE"LABEL" SECTION BELOW (RIGHT SIDE COLUMN), YOU CAN CLICK ON ANY TAG - TO READ ALL ARTICLES ACCORDING TO ITS CATEGORY (E.G. LABEL : CONSTRUCTION) OR GO TO THE VERY END OF THIS BLOG AND CLICK "Older Posts"


 

Showing posts with label RUSSIA. Show all posts
Showing posts with label RUSSIA. Show all posts

Saturday, August 06, 2011



PRIVATE PLACEMENT BUSINESS - BEWARE OF SCAMS! - (A little research by Nik Zafri)

UPDATE : AUGUST 2011 (BETWEEN SCAM AND THE REAL THING)

I can almost recall the early 90s; those good old days; genuine entrepreneurs now reaping lots of benefits and profits due to the great progress in private placement business. Their businesses grow from small timer to big timer. Many of these companies become large corporations today even turned themselves into bluechips listed in the Main Board of Bursa Malaysia. Despite some appear not to be so successful, but they are always bullish to make a comeback - even indulge themselves fully into corporate debt restructuring programs.

Today; when talking about private placement business in Malaysia, many people approached me (to do business plans) and say they have some good projects needed to be funded. Some of them even go to the extend of telling me that some VVIPs are indirectly involved in such projects. (What a joke...take a hike!!)

Based on their papers; on first impression; I was almost fooled as it appears that they do have what it takes. Great looking business plans with all the mission, vision, objective and goals, marketing, viability, gearing/financial ration, projected P & L etc., But as I delve further, I saw layers of brokers hiding behind the business plan. There are many places considered hotspots for brokers.

The normal ones, I did see a few of them in the only 'kampung' in Kuala Lumpur - mostly their brokerage 'network' are associated together with politics (so they claimed) - "Yes, I know this guy like the back of my head, I can bring you to him but I need a million ringgit upfront".

While, the 'higher class' are relaxing comfortably either at the lounge or coffee house; with laptops and gadget phones; in 4 stars hotels but the funniest part is that, I notice that they are taking only plain water (not even Evian) - and never offer you if you like to have something to eat or drink, being snobbish, displaying some dilapidated construction drawings, agreements, letters etc. Sometimes they talked boastfully about Fractal & Fractional Reserve Banking with many times leverage of deposits, cost of fund etc. Don't make they feel comfortable, don't pay for their drinks and food. Trust me - you'll be doing yourself a great favour.

The smart 'scam' brokers will seek ways to capitalize on entrepreneurs demand - mostly at the cost of entrepreneurs. Be careful businessmen and entrepreneurs, learn to smell elements of scam. New 'funding schemes' in private placement are one of them.

The most popular one today that is attacking the Malaysian PP market is the good old trick known as "leasing using Standby LC. Sounds good huh? The broker are smart enough to say that they know people in the banking and financial sector that you only need to pay an upfront of 10% out of the total value issued by the bank. This is a SCAM!

Standby Letter of Credit is an instrument alright but it's NOT discountable. Just walk into any bank and ask! If you need a 20 million SBLC, you need to pay 20 million! So, the scam brokers will convince you that upon issuance of SBLC by the bank, it can be used as a warranty or some sort of collateral to get more money from other projects (usually they will whisper to you that it's 'money laundering') There is no way you can use a leased SBLC to do business.

Another alternative, a smaller amount for big money (small PP), another scam. Behind small money, there is big money awaiting to be robbed from your pocket. Who would give big money for small money? Then; they say to you; you have assets to be liquidated? Yeah..that's where big money comes in. Although there is some logic in it, but wait till you see the levels of overriding commissions the broker will ask from time to time.

So, what else - leasing of bank instrument - is much the same as the SBLC. You have a leased property and trying to make money out of it when the property is not even yours. I don't think the bank will be convinced to take leased property as collateral. The brokers tell you that you can make money is because they want an upfront - that's all.

Another back-end scam is through JV funding which has little to no recourse to you. The scam brokers will ask an upfront (with some more profits from PP) once the so-called 'partner' lease an instrument. They use 'technical words' such as high yields and you're duped into spending so much money by not even bothered to look into the leased instrument.

So, it's all about upfronts. Many people has been tricked and I told them to make proper reports to the authorities - at least to stop others from being duped.

My advise, if you have so much money, go to the bank and ask for true professional advise. Private Placement Business do exist and can be of great assistance to you but try to avoid 'unlicensed and unqualified' brokers.
-------------------------
Here's a good article

Swift MT 760 and MT 799, the Real Story

Submitted by InsideTrade Staff on Friday, 4 December 2009

If you have been in the private placement business for a while, you probably know that there are plenty of acronyms associated with trade programs. As someone new to the business, you may hear phrases like: “MTN”, “BG”, “SBLC”, “PPP”, “DTC”, “CIS”, “POF”, and say, “what the heck are they talking about”? Well, though it is good to know private placement lingo, cool sounding terms do NOT close deals. If you want to protect yourself and succeed in private placement, you MUST understand the 2 most important acronyms of all, the “MT 760” and “MT 799”.

Whether you are a client, broker, consultant, or even just a beginner, the MT 760 and MT 799 are two terms that are critical to learn inside and out!. Many times, if you speak to brokers who claim to have trade programs, you can tell if their investment is real by asking just one question, “Explain the MT 760 and MT 799, what are the risks and fees?” If you get an answer that sounds similar to the explanation we give below, then you may want to dig a little deeper! If you don’t, recognize that these people are less educated than they claim, and may not be the best option. First things first, let’s explain the definition and application of these terms in the modern day private placement business.

The MT 799 is a swift message used between banks to communicate in written form, and is usually referred to as “pre-advice”. For example, Bank “A” may send a MT 799 to Bank “B” stating: “We confirm “XXX” amount on deposit and are ready to block this amount via MT 760 in favor of account “XXX” at your bank. Please confirm readiness and receipt.” Typically, the MT 799 will be needed directly before the MT 760 is issued, and there may be small fees. Despite what most brokers may claim, the MT 799 is NOT used as collateral,and can NOT be used to enter a private placement program. Now that we know about the MT 799, let’s take a look at it’s cousin, the Swift MT 760.

The MT 760 is a swift message used to block funds in favor of someone other than the owner, collateralizing the asset via this message, while allowing for loans and liens against it. For example, most private placements require the investor to send a MT 760 to the trader’s account, allowing the trader to use this swift as a collateral guarantee for their bank. Again, despite what many brokers may claim, this is NOT everything you need to know about the MT 760. Now that you do know the definitions and applications, let’s cover the key points no one ever brings up about the MT 760: the FEES, and the RISKS…

First and foremost, the fees for blocking a large amount of funds via MT 760 can be more than you would expect. In most cases, your bank will charge 1-2% of the value being blocked for this service. For example, on a 100M bank instrument this can be 1-2M that the owner must come out of their pocket with, unless they have a special relationship with their bank. You may say to yourself, “Wow, that is a lot to spend on fees for something I’m not sure will work”! Well, even more importantly, let’s take a look at the risks if you did move forward.

If you complete the MT 760 and pay the fees, you should observe everything very closely from that point on. Once the MT 760 has hit the account of the trader, the line of credit should become available within 72 hours. At that time, the trader should be able to make their first bank instrument purchase, and give you a DEFINITE TIMELINE for your first profit disbursement. You may say, “Why do I need to watch this process so closely?” Well, here is the part that most brokers don’t tell their clients…

When blocked in someone’s favor, the MT 760 collateralizes assets in the form of a swift guarantee, and by doing so, allows the beneficiary to draw credit against it. This means, if the loan to the “trader” was defaulted on, the bank would seize the collateral and you would be out of your money! Though this scenario is possible, I would consider it rare for two reasons… In today’s world, no bank will loan Millions of dollars to someone they haven’t vetted, no matter what collateral is on hand. Second, the MT 760 is quite rare, and this usually draws attention to the beneficiary of the swift.

In summary, the MT 760 can be safe, or it can blow up in your face. As always, the key is having a real trader and most importantly, getting your payments as scheduled. If the trader makes a statement about yields and a time line, they must ALWAYS keep in line with their promises. Over the THOUSANDS of transactions we have been involved in, the only ones that have closed have been smooth from the start, with NO hiccups.

Remember, both RISK and FEES are a part of blocking funds via MT 760!!!! In addition, by understanding the MT 760 and MT 799, you can clear out the TIME WASTING brokers from your network, and work MORE EFFICIENTLY towards your goals.

Let’s face it, very few people know as much as you do after reading this article. Use it to your advantage to qualify the private placement investments you come across, and it will make life a lot easier. Ask yourself, if someone can’t explain the MT 760 and MT 799 in thorough detail, do you think they have ever closed a deal? Then ask yourself, do I want to risk Millions with someone that has NEVER been successful? It’s not hard to see, education is the key!

----------------------------------------------------
SAMPLE- S.W.I.F.T. MT760 – WIRE FORMAT EXAMPLE

NOTIFICATION :

DELIVERY STATUS :
PRIORITY / DELIVERY :
MESSAGE INPUT REFERENCE :

-----------MESSAGE HEADER----------------------------

SWIFT INPUT : MT760 CONFIRMATION OF BLOCKED FUNDS

SENDER :
BANK NAME :
BANK ADDRESS :
SWIFT CODE :
BANK OFFICER :
AMOUNT :
ACCOUNT NAME :
ACCOUNT NUMBER :
RECEIVER :
BANK NAME :
BANK ADDRESS :
SWIFT CODE :
BANK OFFICER :
ACCOUNT NAME :
ACCOUNT NUMBER :
IN FAVOR OF :

-----------SWIFT MESSAGE TEXT----------------------

TRANSACTION CODE :
TRANSACTION NUMBER :

WE, [INSERT NAME & LOCATION OF SENDING BANK] ON BEHALF OF OUR CLIENT [INSERT NAME OF ACCOUNT HOLDER/SIGNATORY], HEREBY PRESENT OUR CONFIRMATION OF FUNDS IN THE AMOUNT OF [INSERT WRITTEN AMOUNT]UNITED STATES DOLLARS (USD $XXX,XXX,000.00) IN ACCOUNT NUMBER [XXXXXXXX] AS OF THE DATE OF THIS TRANSMISSION.

BY VIRTUE OF THIS INSTRUMENT WE [INSERT NAME & LOCATION OF SENDING BANK] CONFIRM WE HAVE PLACED SAID FUNDS ON ADMINISTRATIVE HOLD FOR A PERIOD OF [INSERT WRITTEN NUMBER] (XX) [INSERT TIME PERIOD] IN FAVOR OF THE BENEFICIARY LISTED ABOVE

THIS INSTRUMENT IS IRREVOCABLE AND VALID FOR A PERIOD OF SIXTY (60) DAYS, AND THE FUNDS SHALL REMAIN UNENCUMBERED FROM ANY OTHER BENEFICIARIES.

WE, ---INSERT NAME & LOCATION OF SENDING BANK--- CONFIRM THE FUNDS IN OUR CUSTODY WILL NOT BE CHANGED, ALTERED, AMENDED OR PLEDGED FOR A PERIOD OF [INSERT WRITTEN NUMBER] (XX) [INSERT TIME PERIOD] FROM THE DATE OF THIS TRANSMISSION.

BANK OFFICER, TITLE: BANK OFFICER, TITLE:

PIN: PIN

------------------MESSAGE TRAILER-----------------------

NOTIFICATION :
DELIVERY STATUS :
PRIORITY / DELIVERY :
MESSAGE INPUT REFERENCE :

-----------------MESSAGE HEADER--------------------------

SWIFT INPUT : MT760 CONFIRMATION OF BLOCKED FUNDS

SENDER :
BANK NAME :
BANK ADDRESS :
SWIFT CODE :
BANK OFFICER :
AMOUNT :
ACCOUNT NAME :
ACCOUNT NUMBER :
RECEIVER :
BANK NAME :
BANK ADDRESS :
SWIFT CODE :
BANK OFFICER :
ACCOUNT NAME :
ACCOUNT NUMBER :

IN FAVOR OF :

--------------SWIFT MESSAGE TEXT------------------------

TRANSACTION CODE :
TRANSACTION NUMBER :

WE, [INSERT NAME & LOCATION OF SENDING BANK] ON BEHALF OF OUR CLIENT [INSERT NAME OF ACCOUNT HOLDER/SIGNATORY], HEREBY PRESENT OUR CONFIRMATION OF FUNDS IN THE AMOUNT OF [INSERT WRITTEN AMOUNT]UNITED STATES DOLLARS (USD $XXX,XXX,000.00) IN ACCOUNT NUMBER [XXXXXXXX] AS OF THE DATE OF THIS TRANSMISSION.

BY VIRTUE OF THIS INSTRUMENT WE [INSERT NAME & LOCATION OF SENDING BANK] CONFIRM WE HAVE PLACED SAID FUNDS ON ADMINISTRATIVE HOLD FOR A PERIOD OF [INSERT WRITTEN NUMBER] (XX) [INSERT TIME PERIOD] IN FAVOR OF THE BENEFICIARY LISTED ABOVE

THIS INSTRUMENT IS IRREVOCABLE AND VALID FOR A PERIOD OF SIXTY (60) DAYS, AND THE FUNDS SHALL REMAIN UNENCUMBERED FROM ANY OTHER BENEFICIARIES.

WE, ---INSERT NAME & LOCATION OF SENDING BANK--- CONFIRM THE FUNDS IN OUR CUSTODY WILL NOT BE CHANGED, ALTERED, AMENDED OR PLEDGED FOR A PERIOD OF [INSERT WRITTEN NUMBER] (XX) [INSERT TIME PERIOD] FROM THE DATE OF THIS TRANSMISSION.

BANK OFFICER, TITLE: BANK OFFICER, TITLE:

PIN: PIN

---------------MESSAGE TRAILER--------------------

S.W.I.F.T. MT760 – WIRE FORMAT EXAMPLE

NOTIFICATION :
DELIVERY STATUS :
PRIORITY / DELIVERY :
MESSAGE INPUT REFERENCE :

---------------MESSAGE HEADER----------------------

SWIFT INPUT : MT760 CONFIRMATION OF BLOCKED FUNDS


SENDER :
BANK NAME :
BANK ADDRESS :
SWIFT CODE :
BANK OFFICER :
AMOUNT :
ACCOUNT NAME :
ACCOUNT NUMBER :
RECEIVER :
BANK NAME :
BANK ADDRESS :
SWIFT CODE :
BANK OFFICER :
ACCOUNT NAME :
ACCOUNT NUMBER :
IN FAVOR OF :

-------------SWIFT MESSAGE TEXT--------------------

TRANSACTION CODE :
TRANSACTION NUMBER :

WE, [INSERT NAME & LOCATION OF SENDING BANK] ON BEHALF OF OUR CLIENT [INSERT NAME OF ACCOUNT HOLDER/SIGNATORY], HEREBY PRESENT OUR CONFIRMATION OF FUNDS IN THE AMOUNT OF [INSERT WRITTEN AMOUNT]UNITED STATES DOLLARS (USD $XXX,XXX,000.00) IN ACCOUNT NUMBER [XXXXXXXX] AS OF THE DATE OF THIS TRANSMISSION.

BY VIRTUE OF THIS INSTRUMENT WE [INSERT NAME & LOCATION OF SENDING BANK] CONFIRM WE HAVE PLACED SAID FUNDS ON ADMINISTRATIVE HOLD FOR A PERIOD OF [INSERT WRITTEN NUMBER] (XX) [INSERT TIME PERIOD] IN FAVOR OF THE BENEFICIARY LISTED ABOVE

THIS INSTRUMENT IS IRREVOCABLE AND VALID FOR A PERIOD OF SIXTY (60) DAYS, AND THE FUNDS SHALL REMAIN UNENCUMBERED FROM ANY OTHER BENEFICIARIES.

WE, ---INSERT NAME & LOCATION OF SENDING BANK--- CONFIRM THE FUNDS IN OUR CUSTODY WILL NOT BE CHANGED, ALTERED, AMENDED OR PLEDGED FOR A PERIOD OF [INSERT WRITTEN NUMBER] (XX) [INSERT TIME PERIOD] FROM THE DATE OF THIS TRANSMISSION.

BANK OFFICER, TITLE: BANK OFFICER, TITLE:

PIN: PIN

----------------MESSAGE TRAILER----------------------

Sample BANK GUARANTEE

[Illustration only]

TO: The Principal {"Principal"}

In consideration of the Principal at the request of Contractor ("Customer") and [name of bank] ("bank") agreeing to accept this undertaking in connection with a contract between Principal and Customer for Customer to provide Services to Principal, (Contract") the bank unconditionally undertakes to pay the Principal on demand in writing any sum or sums which may from time to time be demanded in writing by the Principal to an amount not exceeding ………. THOUSAND DOLLARS ($…,000.00) )("agreed sum") in total.

Payment of the agreed sum or any parts of it will be made by the bank to the Principal without reference by the bank to the Customer and notwithstanding any notice to the bank by the Customer not to pay to the Principal any monies payable under this undertaking and irrespective of the performance by the Customer or the Principal of the terms of the Contract.

The bank’s liability will not be affected or discharged in any way by any alterations which may be made to the terms of the Contract or by any extension of time or other forbearance on the part of the Principal or the Customer to the other.

This undertaking will continue in force until either notification in writing has been received by the bank from the Principal that this undertaking is no longer required by the Principal or until payment to the Principal by the bank of the whole of the agreed sum or the balance of it remaining after any part payment or payments which ever first occurs.

The bank will be entitled to terminate this under at any time on payment to the Principal of the agreed sum or the balance of it remaining after any part payments or any lesser amount which the Principal requires.

[Execution by Bank]
--------------------------------------------------------
SAMPLE LETTER OF CREDIT

(note that Malaysia is not yet a member of ICC)

TO: { BUYER} PROFORMA INVOICE:

YOUR REF.:
YOUR REF. DATE:

We have indicated below those terms and conditions that we would find acceptable in a letter of credit issued by your bank. Your efforts to gain compliance with these terms and conditions in the issuance of this letter of credit will ensure prompt dispatch of your order. If your bank is unable to issue the credit within the following guidelines, please contact us providing information on those areas that must be altered. This will eliminate needless delay and costs involved with amendments after the credit has been opened. Only those items marked with an "X" will apply.

1. [ ] The letter of credit is to be irrevocable and subject to the Uniform Customs and practice for Documentary Credits, as published and updated from time to time by the International Chamber of Commerce.

2. [ ] The letter of credit is to be [ ] Advised [ ] Confirmed by our bank:

X bank

Telex No.:
SWIFT No.:
ABA.:

3. [ ] The beneficiary is to be shown as:

4. [ ] The letter of credit is to be payable upon presentation of drafts drawn at:

A. [ ] At sight
B. [ ] ___ days after the date of the transport document (i.e., 90 days after date of B/L)
C. [ ] ___ days after sight (i.e., 90 days after sight)
D. [ ] Other: ____________________________

5. [ ] The letter of credit is to be available by negotiation with any bank.

6. [ ] The letter of credit is to be payable in:

[ ] U.S. dollars
[ ] Other: _______________________________

7. [ ] The amount of the letter of credit is to be specific as:

[ ] "Not to exceed “_____________ [ ] "About “_______________

8. [ ] The following documents are normally provided if required in the letter of credit. Please avoid the requirement for any other documents without prior agreement on our part.

A. [ ] Signed Commercial Invoice, one original and ______ copies.
B. [ ] Packing List in ______ copies.
C. [ ] Negotiable Marine/Air Insurance policy or certificate in duplicate for 110% of invoice value covering all risks and war risks and ____________________________

D. [ ] Full set of clean on board ocean bills of lading

issued to order of : __________________________

E. [ ] Clean air waybill consigned to:

__________________________________________

F. [ ] Other documents:


9. [ ] The letter of credit is to specify shipment of:

____________________________________________

____________________________________________

____________________________________________


10. [ ] Shipment is to be:



[ ] FOB ___________ From: __________________
[ ] CFR ___________ To: ____________________
[ ] CIF___________
[ ] EXW__________
[ ] Other __________ (i.e.: FCA, FAS, CIP, etc.)


11. [ ] The Bill of Lading is to be marked:

[ ] Freight Prepaid
[ ] Freight Collect

12. [ ] Transshipments:

[ ] Are permitted
[ ] Are not permitted


13. [ ] Partial shipments:

[ ] Are permitted
[ ] Are not permitted


14. [ ] Latest Shipment Date __________________

15. [ ] Latest Presentation Date of Documents to the Negotiating bank to be ____ days after each shipment date.

16. [ ] Expiration Date of letter of credit to be __________________

17. [ ] The letter of credit should specify that all banking charges outside the country of the applicant are for the account of the [ ] applicant [ ] beneficiary.

18. [ ] letter of credit to be transferable.

19. [ ] Other special instructions.

2. Complying with Documentary Requirements

Exporters and freight forwarders who frequently assist the exporter is preparing documents for shipment are aware that terms and conditions in letters of credit are to be fulfilled exactly as stated. The opening bank has set forth terms as requested by the applicant, or buyer, and neither the opening bank, negotiating bank or designated paying bank will honor documents other than those specified. Furthermore, some documents required under a letter of credit are specifically described as to the information which must be contained in the specified document.

----------------------------------------

SAMPLE - BUYER'S MANDATE

To be issued on Buyer’s Letterhead

Letter of Intent / Irrevocable Corporate Purchase Order

Date of Issue : ... . 2008 Buyer's Reference: ................
Valid Till: ... ..... 2008

To:

Seller Mandate :
Company
Address
Country

We the undersigned Name of Signatory of End Buyer's Company Name hereby state and confirm that we are ready, willing and able to purchase HMS (Grade.....) in the quantity and for the price as specified in the terms and conditions as stated below. This representation is made with full corporate authority and also responsibility of the above stated buyer.

Commodity HMS 1 & 2 (80:20)
Specifications ISRI 200 to 206
Loading Port XXXXX (Seller's Choice)
Packing Bulk / Container
Destination Port Destination Port Name
Shipment Terms CIF /CNF, (Buyers destination Port)
Total Contract Qty ...............MT (in xxx months /days)
Quantity per Shipment .............. MT (+- 5%)
No.of Shipments per Month ----Shipment per Month
Length of Contract ___Months / One time Spot deal
Delivery Period Within 60 Days after Opening of DLC/LD.SBLC

Yard Visit Seller’s Choice
Inspection SGS or CCIC or Equivalent at Seller's Cost Procedure Seller’s Choice
Price CNF / CIF / FOB............USD .... / MT
Mode of Payment Irrevocable, Confirmed, Non-Transferable,
100% payable at sight DLC. Activated by Sellers’s 2% PBG
Performance bond: 2% Operative PB from the seller.
End Buyer's Information

Company Name
Address
Country
Zip
Telephone No.
Fax No.
E-Mail

End Buyer's Bank Details (From Which LC Will be Issued)

Bank Name
Address
Zip and Country
Telephone No. and Fax No.
Account Name
Account No.

Bank Swift Code

Bank Officer's Name

Designation, Direct Phone and Fax No.

LC Confirming Bank's Details (can be same as above)

Bank Name
Address
Zip and Country

This exclusive LOI with the specific LOI reference number is the only current LOI. It takes precedence over any other LOI with the above-mentioned specific LOI reference number currently in circulation for this quantity and product. The Buyer is of the understanding that any and all offers are subject to final agreement on the details of sales contracts.

Signature .................
Printed Name .................

(Corporate Seal)

Title .................

INTERNATIONAL CHAMBER OF COMMERCE ( I.C.C 400 / 500 / 600 )
NON-CIRCUMVENTION, NON DISCLOSURE & WORKING AGREEMENT

WHEREAS the undersigned wish to enter into this Agreement to define certain parameters of the future legal obligations, are bound by a duty of Confidentiality with respect to their sources and contacts. This duty is in accordance with the International Chamber of Commerce.

WHEREAS the undersigned desire to enter a working business relationship to the mutual and common benefit of the parties hereto, including their affiliates, subsidiaries, stockholders, partners, co-ventures, trading partners, and other associated organizations (hereinafter referred to as “Affiliates”).

NOW THEREFORE in consideration of the mutual promises, assertions and covenants herein and other good and valuable considerations, the receipts of which is acknowledged hereby, the parties hereby agree as follows:

1. TERMS AND CONDITIONS

A. The parties will not in any manner solicit, nor accept any business in any manner from sources or their affiliates, which sources were made available through this agreement, without the express permission of the party who made available the source and,

B. The parties will maintain complete confidentiality regarding each other business sources and/or their Affiliates and will disclose such business sources only to the named parties pursuant to the express written permission of this party who made available the source, and,

C. That they will not in any of the transactions the parties are desirous of entering into and do, to the best of their abilities assure the other that the transaction codes established will not be affected.

D. That they will not disclose names, addresses, e-mail address, telephone and tele-fax or telex numbers to any contacts by either party to third parties and that they each recognize such contracts as the exclusive property of the respective parties and they will not enter into any direct negotiations or transactions with such contracts revealed by the other party and

E. That they further undertake not to enter into business transaction with banks, investors, sources of funds or other bodies, the names of which have been provided by one of the

F. Parties to this agreement, unless written permission has been obtained from the other party (ies) to do so. For the sale of this agreement, it does not matter whether information obtained from a natural or a legal person. The parties also undertake not to make use of a third party to circumvent this clause.

G. That in the event of circumvention of this Agreement by either party, directly or indirectly, the circumvented party shall be entitled to a legal monetary penalty equal to the maximum service it should realize from such a transaction plus any and all expenses, including but not limited to all legal costs and expenses incurred to recover the lost revenue.

H. All considerations, benefits, bonuses, participation fees and/or commissions received as a result of the contributions of the parties in the Agreement, relating to any and all transactions will be allocated as mutually agreed.

I. This Agreement is valid for any and all transaction between the parties herein and shall be governed by the enforceable law in All Commonwealth Country’s, European Union Country’s, USA Courts, or under Swiss Law in Zurich, in the event of dispute, the arbitration laws of states will apply.

J. The signing parties hereby accept such selected jurisdiction as the exclusive venue. The duration of the Agreement shall perpetuate for (__) years from last date of signing.

2. AGREEMENT TO TERMS

A. Signatures on this Agreement received by the way of Facsimile, Mail and/or E-mail shall be an executed contract. Agreement enforceable and admissible for all purposes as may be necessary under the terms of the Agreement.

B. All signatories hereto acknowledge that they have read the foregoing Agreement and by their initials and signature that they have full and complete authority to execute the document for and in the name of the party for which they have given their signature.

3. ACCEPTED AND AGREED WITHOUT CHANGE

Party # 1 (Seller/Seller Mandate) Party # 2 (Buyer/Buyer Mandate)

Name : Name :
Passport No : Passport No :
Nationality : Nationality :
Company : Company :
Business Registered No. Business Registered No.

Address : Address :


Tel : Tel :
Fax : Fax :
Mobile : Mobile :
E-Mail : E-Mail :
Designation : Designation :
Date and Time : Date and Time :
Sign & Seal : Sign & Seal :


EDT ( Electronic document transmissions )
EDT (Electronic document transmissions) shall be deemed valid and enforceable in respect of any provisions of this Contract. As applicable, this agreement shall be:-

1- Incorporate U.S. Public Law 106-229, ‘‘Electronic Signatures in Global and National Commerce Act’’ or such other applicable law conforming to the UNCITRAL Model Law on Electronic Signatures (2001) and

2- ELECTRONIC COMMERCE AGREEMENT (ECE/TRADE/257, Geneva, May 2000) adopted by the United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT).

3- EDT documents shall be subject to European Community Directive No. 95/46/EEC, as applicable. Either Party may request hard copy of any document that has been previously transmitted by electronic means provided however, that any such request shall in no manner delay the parties from performing their respective obligations and duties under EDT nstruments.

----------------------------------------

SAMPLE MANDATE - FULL CORPORATE OFFER (FCO)

Date:

XXXXXXXX
XXXXXXXX
XXXXXXXX

Dear SELLER’S REPRESENTATIVE NAME

In an effort to reach a successful resolution, we, MANDATE representing BUYER, have the pleasure of submitting, for SELLER, our Full Corporate Offer for supply of PRODUCT AMOUNT per month of PRODUCT for a period of XX months based on the following terms and conditions:

Product:
Origin:
Quantity:
Specification:
Delivery Terms:

DESCRIPTION
COUNTRY
QUANTITY/PER (MONTH,YR ETC)
As per Specification Sheet annexed herewith
CIF(OR FOB) ASWP
PRICE:

Price in US Dollar per barrel to be invoiced against three-day average, the day before, the day on, the day after (pricing days) of the COUNTRY .... published by .... Crude Oil Market.

PROCEDURE (Non-Negotiable):

1. Seller/Seller's mandate forward Full Corporate Offer (F.C.O) along with formats of bank capability and format of payment Guarantee for the payment of commission to the royality and to the Buyer Mandate.

2. Buyer returns the FCO and formats duly signed and accepted along with an ICPO having full bank details (TOP 20) and major AAA Bank, which acceptable from the Seller. ICPO to be addressed to XYZ, C.C.S.Z. ANYONE (aka AW), W.SMITH, XXX and must confirm financial capability as well as include details of the refinery, refinery codes processing and storage capacity.

3. Seller Mandate response with draft of Sale/Purchase Copy of Contract for the Buyer to sign.

4. Seller Mandate arranges for exchange document as below:

a. Buyer's bank capability as per specified format, duly issued by TOP20 major AAA Bank, which is acceptable from the Seller.

b. Buyer's bank letter informing Seller Mandate that it will issue the bank guarantee as per specified format on a specified date in their bank after checking and verifying the codes with SELLER.

Against the above, same day and same time:

i) Seller Mandate will provide "Authority to Sell" document duly endorsed by the Chamber of Commerce, Saudi Arabia in original.

ii) Seller Mandate will provide "Mandatory Letter" in original issued by the Allocation Holder authorizing to sign the copy of contract on their behalf.

5. After successful completion of (4) above, Seller Mandate and Buyer sign the copy of Contract, agreeing in principal of all the articles.

6. After the Soft Copy of Contract has been signed and completed, Seller Mandate shall send the Soft Copy of Contract to the Allocation Holder, who in turn, shall have the contract registered in the name of Buyer with SELLER, within the maximum period of 15 banking days.

7. After the Hard Copy is registered in the name of the Buyer, the Seller/Seller's Mandate shall provide to the Buyer's/End User's Bank with genuine codes for verification from SELLER , the Buyer's bank shall be permitted a maximum of 24 hours from receipt to confirm and verify from SELLER.

8. Allocation Holder after registration of the Contract in the name of the Buyer with SELLER shall have the original contract having Seller Code, Contract Number, Allocation Number, Seller Bank Details, send to the Seller mandate through courier.

9. Immediately after receipt of the Contract in Original, Seller Mandate coordinate with Buyer/End User for Verification with SELLER and to be followed by signing of the hard copy by the Buyer.

10. After signing the hard copies in Buyer's Bank, simultaneously the Buyer's/End User's bank officer shall hand over to the Seller Mandate the Pay Order Guarantee as attached for the payment of commission to the royalty and to the Seller Mandate.

Splitting of discount is as follows:

Gross: US $XXX.00 per (barrel OR gallon OR metric ton)
Net: UD $YYY.00 per (same as above) (Maximum Market Rate)
Buyer Mandate & Intermediaries: US $ZZZ.00 per (same as above)
Royality: US $MMM.00 per (same as above) (Closed)
Seller Mandate: US $NNN.00 (same as above) (Closed)

The above discount could change on every Monday (London Time) based on the global crude market price fluctuation.

ONCE the Contract is signed then the Gross/Net Discount figures REMAIN CONSTANT during Contracts Term for XX DURATION PERIODS

11. Sellers bank sends to Buyer's bank a 2% non-operative performance bond that guarantees revolving six shipments in favor of Buyer L/C opener.

12. Immediately upon receipt of Non-Operative Performance Bond, the Buyer shall open a IRREVOCABLE, CONFIRMED, REVOLVING AND ONCE TRANSFERABLE (to SELLER) OPERATIVE DOCUMENTARY LETTER OF CREDIT TO BE OPENED TO SHOW AMOUNT FOR THE XX MONTHS QUANTITIES OF THE CONTRACT. THIS LETTER OF CREDIT WILL HAVE VALUE EQUIVALENT TO ONE MONTH'S QUANTITIES BUT REVOLVING FOR THE ENTRY XX MONTHS PERIOD OF THE CONTRACT, FROM A TOP 20 PRIME BANK, PAYABLE BENEFICIARY'S BANK AS SPECIFIED UNDER APPENDIX.

13. The 2% non-operative performance bond submitted by the Seller will be operative immediately after the letter of credit as mentioned in clause 12 above has reached and attached and accepted at Seller's Bank

14. The bellow mentioned document will be sent by the Seller immediately after receipt of Letter of Credit from the Buyer:

a. Certificate of Authority to Sell
b. Certificate of Availability of products
c. Delivery Schedule.

15. At the time of each lifting of delivery, the Buyer / End User (Letter of Credit Opener) must provide the port authority at port of loading, the following documents:

a. A copy of nominated vessels charter party under the name of LC opener (the Buyer must be end user).

b. Proof of Refinery or processing Agreement under the name of Opener (the Buyer must be end user).

16. The Parties to the contract enter into this cycle and shall proceed with the execution of mutually agreed schedule to its full implementation.

17. The validity of this document is only for FIVE (5) days from today (XXX Time).

Note: Only the Original copy with original signatures and seal shall be considered as acceptable document.

Sincerely,
XXXXXXXX

TITLE
XXXXXXXX

---------------------------
SAMPLE BCL

(Note that some of the details have been altered, the following serves only as an example)




----------------------------

Here's the most classical oil scam article :


http://www.gulfoiltrading.com/Fake%20companies.htm

Other Links:

http://sites.google.com/site/blacklistscammersoilandother/file-manager
http://www.docstoc.com/docs/6545072/The-list-of-some-FAKEs-companies-in-Russia-The/
http://www.alees.com/Black_list.aspx

Wednesday, March 16, 2011

JAPAN WILL SURVIVE! - ARTICLE AND RESEARCH BY NIK ZAFRI


What is happening in Japan is very tragic. Our hearts go out to all those suffering.

It is with heavy heart when I wrote this article as too many questions been e-mailed to me about the post-economic effects of the Tsunami and quakes in Northern Japan.

Definitely oil prices slumped below $98/barrel. This would be worse depending on the situation at the nuclear plant.

Some large nations including China is cutting back nuclear-investment. It means that there is and will be higher demand for oil.

Already global stock markets sharp falls have been observed.

I stand with other global analysts that the immediate dampening effect of the earthquake on Japanese oil demand soon would be reversed. Let not anyone forget about the current crisis the Middle East and North Africa, recovery process in Egypt and the latest "Libya and Gaddafi's Factor" is also affecting the global oil price.

On Japan itself, yes they will be affected somehow - judging by the past experience of Kobe, it has caused > USD100 billion of damages with more than 5000 people are killed.

The death toll now; as I speak; unfortunately; is more than Kobe. Not to mention the grid and network of electrical and communication which may affect macroecomically speaking across the nation.

Furthermore, global ripple effects especially on the United States would be on the auto industry, semiconductors etc.

How would investors in Japan react?

Not good, there are talks about them dumping some of that debt (government bond) in Japan despite assurance there will be budget - spend massive amounts of money rebuilding infrastructure and factories in Northern Japan.

Also there have been rumours about pulling yen out of the abroad market for rehabilitation purposes in the affected places in Japan. But the affect is short term and yen may strengthen but not in the interest of the Feds. With the sharp increase of commodity and oil prices, interest rates might be pushed up.

For the opportunists or 'profitists?' (if there is such word)?

Well as usual - sort term sell-offs = long term gain if you are up to it.

1. Auto industry - Japan's sales is more focussed outside and performing splendidly - take Toyota for example - they will go through this as they still have cash - lots of them

2. Nuclear & Uranium - Operators are worried about regulatory and political even monetary policies.

This is a normal case - If you all recall the BP/oil spill case which lead to more offshore drilling - then please do not worry.

I quote this from Motley fool website :

Southern Co. (NYSE: SO) and Exelon (NYSE: EXC) stand out as two intriguing names that have traded off a bit on the market's tumults. Exelon, in particular, has been hit hard and offers big upside. Exelon might be the largest nuclear power producer in the U.S., but about 1/3 of its power generating capacity comes from sources other than nuclear. For that matter, the company operates regulated utilities which offer very consistent cash flow and, frankly, have no real exposure to the drama you're seeing on television. Put it all together with a 5% dividend yield and a valuation that already assumes paltry growth, and you're looking at a bargain.


The Motley Fool are so cool that they also 'agree' to my answer :

Shrinking in uranium demand? No way. China and Russia will continue to create a long term demand growth!!

We have seen how Japan move up after Hiroshima and Nagasaki, after Kobe incident - so what would stop them from going up after this one? Because of there will be heavy spending - in the medium term - they will be UP!

I'm not a Japanese but I do know how the system works over there...so don't create more panic, do not listen to rumours.
----------------------------

Menjawab soalan dari seorang rakan di luar negara mengenai impak pos-bencana di Jepun ke atas negara-negara ASEAN


Nik Zafri :

Terima kasih saudara kerana soalan berkenaan.

Secara ringkasnya :

KDNK Jepun akan menjadi perlahan tetapi hanyalah bersifat sementara tetapi saya pasti ianya akan 'pick-up' pertengahan 2011 kerana program pembinaan semula.

Walaupun terdapat laporan ketidaktentuan kerana reaktor nuklear, berpandukan pengalaman Hiroshima dan Nagasaki, mereka pasti akan berjaya dalam usaha membangunkan semula negara matahari terbit ini.

Terdapat suara-suara kebimbangan di kalangan negara ASEAN namun impak sebenarnya adalah sangat terhad kecuali sektor pengeluaran automotif dan elektronik.

Potensi KDNK ASEAN sangat tinggi kerana keupayaannya untuk melepasi tahap bahaya selepas krisis global yang bermula dari US (Sab-Prima) dahulu. Jadi saya berpendapat ASEAN akan dapat memproses impak bencana Jepun dengan baik serta merancang satu usaha untuk melepasi tahap ini pula. Kita sebenarnya bertuah kerana mempunyai ramai pemikir-pemikir strategik di negara-negara ASEAN.

Yang paling penting, kita mengawal perasaan supaya kita tidak panik. Kerana, andaikan kita gagal mengawal impak dengan baik, kita akan berhadapan dengan masalah baru iaitu inflasi kerana terdapat tanda-tanda kenaikan dalam kemasukan portfolio modal, kenaikan harga komoditi serta makanan. Negara-negara yang berpendapatan rendah akan pasti merasai kesan ini.

Seperti biasa, tugas mencari jalan bagi merendahkan kadar inflasi sekiranya ia berlaku bergantung kepada negara-negara ASEAN lain untuk merangka satu cara atau polisi yang strategik.Kenaikan komoditi secara berterusan mungkin akan menyebabkan situasi ketidaktentuan di masa hadapan.


Saya mendapat beberapa info dari rakan penganalisa barat yang rata-rata memberitahu saya bahawa ASEAN mempunyai potensi yang tinggi TERUTAMANYA Malaysia dan Singapura disebabkan situasi ketidaktentuan di Timur Tengah, Eropah, Korea dan kini di Jepun.

Oleh sebab kedudukan ini, Malaysia perlu memainkan peranan besar dalam ASEAN termasuk China.

Walaupun China akan menjadi kuasa ekonomi yang besar terutamanya pengekspot dan pengeluar, namun ianya akan bergantung kepada sokongan rakan-rakan ASEANnya. Di sini Malaysia boleh berkongsi pengalaman menerusi proses industrialisasi dan urbanisasi yang selama ini terbukti menjadikan Malaysia negara maju pada tahun 2020.

Lagi pun, Malaysia merupakan satu-satunya negara yang masih aman, maju dan makmur serta tidak mengalami apa-apa bencana alam yang besar seperti negara-negara lain di dunia. Alhamdulillah.

Wassalam - perlu diingatkan ini adalah pendapat peribadi berdasarkan kajian saya dan bukanlah mewakili mana-mana pihak.

Wednesday, October 07, 2009

How are we doing today? Mr. World Economics?
By Nik Zafri - Oct 7, 2009

Ok..to start with - Oil (Asia)...Source NYME - November benchmark crude up 63 cents - $71.51 by 12.30 pm and contract settled at $70.88 - a rise of 47 cents. For US (Dow Jones gaining 1.4%), it's the best achievement and a good sign for prospects of more corporate profits.

A sign of recovery? Perhaps - Oil markets & equities are being driven by this recovery.

There is another paradox though - if crude inventories fall, oil prices may rise further and price will fall if crude stocks rise. I hope if this happens, the strong financial market will back it up.

Global Economic Stimulus Package - I'm glad that our global economy now can withstand higher borrowing cost - despite there are talks about interest hike yet world Governments spending and offers of low interest rates are now emerging.

Next - Inflation vs interest rate hikes. Some countries in the Asia-Pacific Region expected a building trend of inflation (Australia recently raise their key interest rates (official cash rate by 25 basis points to 3.25%) - which is OK to them) due to recent hike 'Downunder' - there is a possibility that 'everyone else' will follow this trend.

Thus, if there is a plan to raise interest...I can understand why (we must be fair to the Banking and Financial instititutions as well) but please monitor the inflation possibilty..if there is such sign (in Malaysia specifically), please control it.

Bonds - Reports came to me that in some countries - Traders are buying after the fall. Yields are retreating (on the benchmark one decade bond yield now closing lower - During the early deals, it's rising due to lacking of buyback news - something to look at before )

Before I move on : Anyone heard of the so called secret talks between the Gulf states? I heard stories about China and Russia are replacing oil trading with dollar which may have caused the decline is USD?

Next - USD vs Gold vs other currency - I think everyone is noticing that USD is falling against major currency. Thus gold are rallying on the bullion markets and silver surges higher. (Dollar is now the 'arc nemesis' to gold = Gold is used for safe hedge against inflation whenever the Dollar is down)