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Friday, July 1, 2022

A July jolt Handy price checker apps for you

Consumers can download them to look for low prices and comparisons

Cooking oil prices are up as of today, so are those of chicken and eggs and it’s going to be a tough few months for consumers. However, economists expect the hard times to ease by the end of the year. Until then, a special task force, which met for the first time yesterday, will try to keep the pain bearable.

What to expect from today:

End of vehicle sales tax exemptions

Subsidy removed for 1kg, 2kg, 3kg and 5kg bottled cooking oil

Subsidy retained for cooking oil in 1kg packets

Increase in pet food prices

New ceiling price of standard chicken at RM9.40 per kg

Retail price of eggs: Grade A: 45sen Grade B: 43sen Grade C: 41sen

Those with driving licences expired on or before Jan 13, 2021, need to retake driving tests

No change in water and electricity tariffs for domestic users in Peninsular Malaysia

Large-scale enforcement against illegal immigrants to start

As Malaysians brace for price increases in essential food items such as chicken, eggs and cooking oil, local price checker apps may be handy to help find the lowest prices available.

The Domestic Trade and Consumer Affairs Ministry is encouraging consumers to download its Price Catcher application, which allows users to view the prices of specific items from various locations and make comparisons.

For example, consumers can check the price for 1kg of chicken thighs and see how they are priced at different locations, such as grocery stores, supermarkets and more.

The prices will be displayed from the lowest to highest. Consumers will get information based on their own location data.

The app also allows users to view prices of goods from various ecommerce stores, though the choices are limited to only three platforms.

According to the ministry in a Facebook post on June 27, the information on the app is updated daily by its price monitoring officers based on checks at various locations.

Price Catcher is free to download from the Google Play Store and Apple App Store.

Price Catcher - Apps on Google Play /
Price Catcher on the App Store

Another price checker app that consumers can consider is Hargapedia.

Hargapedia - Compare Price, Check Deals, Get free vouchers

They can check for the prices of items based on specific brands – from online platforms such as Shopee to supermarkets like Jaya Grocer, Giant and Lotus.

The app will display dates to provide validity of the pricing.

The information will also be filtered according to data provided by users such as location, age and income level.

The app can also direct consumers to the online platform so that purchases can be made from the site or outlet.

However, the app does not indicate if an item has sold out. Hence, consumers will only find out once they have been directed to the shopping site.

Full price listings are also only available to users who register on the app.

Hargapedia can be downloaded from the Google Play Store, Apple App Store and Huawei

- The Star Malaysia

by ALLISON LAI, JOSEPH KAOS Jr, JUNAID IBRAHIM, GERARD GIMINO and ANGELIN YEOH

DOMESTIC LIVESTOCK AND POULTRY PRICES

Hike in chicken ceiling price brings relief to many

“The consumption of chicken and eggs is expected to be resilient despite global inflationary headwinds as they are one of the cheapest sources of protein.” Tan Kam Meng

Source: TA Research and Department of Veterinary Services

The spike in the average price of meat such as duck, beef and pork in Malaysia, other than chicken, where the price has been kept low via a ceiling price, has led to an even higher demand for chicken, says TA Research.

The higher ceiling price for broiler chickens and eggs may only provide “slight relief” to Malaysian poultry players, who have been battling margin compression for the past several months.

TA Research analyst Tan Kam Meng described the recently-announced hike in ceiling price for chickens as only “marginal”.

He also said that the increase in ceiling price for chicken from farm is unlikely to completely compensate for the cost borne by the breeders, especially smaller players.

“We believe the leeway for increase in average selling price (ASP) will slightly improve the earnings for both Leong Hup International Bhd and QL Resources Bhd as the input cost seems to have moderated recently.

“We reiterate ‘buy’ on Leong Hup and QL with respective target prices of 89 sen per share and RM6 per share,” stated Tan in a note issued yesterday.

Effective today, chicken will cost RM9.40 a kg, up by 50 sen, based on the new ceiling price set by the Cabinet.

The Cabinet decided not to float the price of chicken, a move that has brought relief to many quarters, especially consumers who are facing the brunt of inflation.

The Cabinet also set the new ceiling price of chicken eggs at 45 sen per egg for Grade A, 43 sen for Grade B and 31 sen for Grade C, all up by two sen each, in Peninsular Malaysia.

The new prices will be in effect until Aug 31.

Tan also said the higher ceiling price came as a compromise, taking into account the inflationary pressure faced by consumers and the increase in feed cost for the suppliers.

He noted that prices have been surging across the board for livestock, mainly due to increased feed price and demand recovery from the reopening of the economy.

The average prices of live ducks, cows and pigs in Malaysia have increased 8% to 32% compared to last year.

The spike in average prices of livestock other than chicken, where the price has been kept low via ceiling price, led to even higher demand for chickens, according to him.

“We remain optimistic on Leong Hup and QL as the increase in poultry’s ASP would provide a boost to profitability of their poultry segment.

“Furthermore, both poultry players are well positioned to capture market share of smaller farmers who left the business.

“The consumption of chicken and eggs is expected to be resilient despite global inflationary headwinds as they are one of the cheapest sources of protein,” he added.

In a separate note, MIDF Research said that new ceiling price would help to limit potentially larger adjustment that would add to the overall food inflation.

It also pointed out that the new ceiling price for chicken at RM9.40 per kg for Peninsular Malaysia is only an increase of 5.6% from the previous ceiling.

“So, this is smaller than the expected increase to around RM10 to RM12 per kg if chicken prices were to be floated.

“Meanwhile, the approval given to the Farmers’ Organisation Authority to bring more than 4,500 tonnes of chicken from Thailand is expected to stabilise chicken supply in the domestic market.

“We expect these measures will limit upward pressure on chicken price for now,” the research house said.

Going forward, MIDF Research foresees the government to continue exploring more initiatives to ease the upward pressures on food prices in the longer run.

-StarBiz By GANESHWARAN KANA ganeshwaran@thestar.com.my

Come up with a real food plan, urge consumer groups

‘Govt’s commitment has kept inflation at bay’

Food for thought on footing the bill

CLICK TO ENLARGE DEPRESSED wages, and a rising cost of living – these are the biggest tribulations facing the man on the street these days...

Wednesday, June 29, 2022

Food for thought on footing the bill

CLICK TO ENLARGE

DEPRESSED wages, and a rising cost of living – these are the biggest tribulations facing the man on the street these days.

Needless to say, the lower income group is the one most affected but things have come to a stage where the Middle 40 (M40) group, especially those with families, is being dragged down and feeling the pinch too.

The biggest problem is that food –an unavoidable spending – is what takes up the bulk of the families’ budgets.

Chicken – a source of protein that cuts across all walks of life, creed and faith – tops the list of food. And keeping chicken prices down has become impossible.

Malaysia recorded a 2.8% year-on-year (y-o-y) increase in the consumer price index, which measures inflation. Food inflation rose by 5.2%, which means food prices are rising faster than anything else.

And experts warned that the food bills will keep going up.

With food insecurity on one side, rising cost on the other, the question is: what can be done to survive this double-edged sword?

True, much of the work of controlling the surging inflation is in the hands of the government and market forces but what can be done at the individual level?

Some may suggest side gigs and part-time jobs to grow wealth but the more immediate and feasible measures will be a relook at personal spending and lifestyle changes, including dietary habits.

Cutting back on non-essential items, budgeting, doing cooking more at home and making diet changes may help.

Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid suggests a rethink on personal expenditure.

“The other is to look for additional income via part-time jobs. The third is to save and invest so the money will grow and hopefully, outperform the inflation,” he said.Sunway University Economics Prof Dr Yeah Kim Leng said that on the consumers part, they could explore cheaper substitutes, cut back on discretionary spending or reduce consumption.

They could also look for alternative sources of nutrients.

Singletons living with friends or housemates could pool groceries and cook meals together.

When it comes to takeouts, cutting down on using food delivery apps may help, as delivery charges make meals costlier. It’s cheaper to go out and buy them directly from the outlets.

Aside from that, buying groceries at a wholesale market instead of wet markets or grocery stories may also be a cheaper alternative.

Deputy dean of Universiti Putra Malaysia’s Faculty of Medicine and Health Sciences Assoc Prof Dr Barakatun Nisak Mohd Yusof noted that nutritious food will cost slightly more and a good meal must comprise food from all groups of the food pyramid

Citing a study, she said the food group that is likely to be affected is protein, as animal based protein such as meat and fish are the ones getting expensive.

She fears people may turn to starch which is relatively cheaper. There is also a fear that more people may turn to fast food or cheap but unhealthy alternatives like instant noodles.

Dr Barakatun said plant based protein such as dhall, beans, tauhu, tofu and tempeh are good alternatives.

“These are good sources of protein and are not only cheaper, but also contain fibre,” she said.

She said habitual meat eaters not accustomed to plant-based diets could incorporate such food slowly into their diet.

“It is not like you have to eat them daily. You can have them on alternate days or as part of a weekly meal plan,” she said.

As for vegetables, she also suggested consumption of “ulam”, a fairly affordable dish that could be easily grown in homes.

She said vegetables such as carrot, lady’s finger, cabbage and long beans could be bought in bulk as they can last longer.

While processed frozen food like sausages should be avoided, frozen chicken meat and fish can be consumed.

She also suggested freshwater fish such as catfish or keli, which remain affordable.

“We can also focus on local fruits,” she said.

She also suggested meal planning, such as pre-planing the simple dishes that can be cooked throughout the week. Groceries for the week can then be bought based on the plan.

Another interesting tip which Dr Barakatun shared was to segregate and pack ingredients according to the menu planned.

She felt meal prepping could then be turned into a fun family activity with kids.

These lifestyle changes will definitely not be easy but they could help stretch the ringgit and leave some extra cash in the wallet in these tough times.

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When marriage isn't for all

http://mystar.newspaperdirect.com/epaper/viewer.aspx

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Tuesday, June 28, 2022

NATO’s expansion stumbles as members calculate costs

Europe will certainly not become more secure after this round of NATO expansion

There is a lack of mutual understanding and compromise in European culture, where countries are focused on maximizing their own security interests without regard for others. The US is certainly glad to see Europe in this state.

Editor's Note:

NATO, which is constantly looking for imaginary enemies and justifying its existence by inciting confrontation, is holding a summit from Tuesday to Thursday, and it also plans to extend its tentacles to the Asia-Pacific region. Behind its aggressive narrative, contradictions and divisions within NATO have become increasingly prominent. The Russia-Ukraine conflict is not going according to NATO's playbook. This series of articles will provide some clues regarding NATO's predicament. This is the fifth piece.

NATO, the North Atlantic Treaty Organization, was established in 1949, but to this day it remains an important tool for suppressing the opponents of the West. The initiative to unite 12 countries originally belonged to the United States, which became the most powerful world leader after the end of World War II. The US was the foundation of the organization's military power, a source of economic and financial assistance to member countries. It goes without saying that not only the highest command posts belonged to the Americans, but they also defined strategic objectives at all stages of NATO's activities. The main mission of this organization from the very beginning was the unification of military and economic resources under the command of the US to prepare an all-out war against the Soviet Union. The countries of another military bloc, the Warsaw Pact Organization (ATS), led by the USSR, also became enemies. It was created only six years after NATO - in 1955.

NATO played an important role in weakening the USSR and its allies. After the collapse of the Soviet Union and the dissolution of the Warsaw Pact in 1991, the question arose about the feasibility of continuing the existence of NATO. But the US, which really ruled the bloc, set a new task for it - to involve former ATS member countries and post-Soviet republics in its structure. This was considered necessary to expand the zone of America's strict control over Europe as the most important part of the world at that time. NATO was also used to "sweep" the European space during the war against Yugoslavia. NATO and its de facto twin in the field of economics and politics - the European Union - were used in organizing the "color revolution" in Kiev and provoking the current Ukrainian crisis. In these situations, the US uses NATO as a tool for dirty work, saving the US from the loss of "precious American lives" and the risk of retaliatory strikes on the territory of the US.

NATO's successful fulfillment of its tasks in Europe led Washington to think about using the potential and experience of the bloc in another part of the world. Having recently identified China as the most serious threat to the international order, Washington is faced with a lack of resources to contain and suppress the growing Chinese power.

In order to mobilize the existing resources, the Biden administration has developed a concept of Indo-Pacific security, strongly resembling a similar concept for the North Atlantic. The concept has already been reinforced by the creation of the Indo-Pacific Command of the US Armed Forces. Already available resources were activated - military alliances with Japan, South Korea and Australia. The AUKUS military group was created. The activity of the QUAD military-diplomatic group is stimulated. The creation of the Indo-Pacific Economic Framework was recently announced. But even these actions are not enough for Washington.

Therefore, it is urgently necessary to extend the scope of NATO's responsibility to the Indo-Pacific region as well. Obviously, US efforts are aimed at uniting all Asian and European allies, their military, economic and geostrategic resources to create a new tool for the realization of American global ambitions. It can be conditionally called the Indo-Pacific Treaty Organization according to the patterns of NATO.

Of course, the arrival of NATO to the East, especially since the new military bloc of the West, will threaten the security interests of Russia as a Pacific power. But first of all, it will be directed against China. Strengthening the militarization of the region will also contradict the interests of economic stability and security of ASEAN, APEC and other groupings of the region.

Serious obstacles may arise in the way of implementing Biden's chess game. We are not talking about the fluctuations of European satellites in NATO such as "ready for anything" Poland, the "Baltic troika" or the Balkan neoplasms. It is unlikely that we will talk about England with its age-old anti-Chinese traditions and loyalty to Washington at the level of a conditioned reflex. But such large "stakeholders" as Germany, France, Spain and Italy may think hard about the consequences of entering into a military confrontation with China, taking into account their trade and economic interests.

These powers are well aware of the benefits of bilateral trade with China, which amount to tens and hundreds of billions of euros. They are also aware of the intention of the White House to lift trade sanctions against China in an attempt to bring down the threatening increase in inflation. The role of trade and economic "cannon fodder" is unlikely to entice figures claiming some level of independence even within the framework of NATO. In Madrid, the leaders of significant European powers are unlikely to voice their doubts, but then they will try to "put on the brakes" in implementation of Biden's Indo-Pacific plan.

Another important reason for avoiding the dubious honor of becoming a member of the anti-Chinese coalition may be Washington's inconsistency. Just two years ago, then US president Donald Trump reproached NATO member countries for the insufficiency of military efforts, the desire to "ride for free" and even promised to dissolve the military bloc. What will happen after the next presidential election? Will Trump come back? Won't those business and political circles that oppose the dispersion of the waning power of their power, for the concentration of resources on solving domestic economic and humanitarian problems, win?

Europeans are already suffering losses from following Biden's anti-China course. The ratification of the China-Europe Comprehensive Investment Agreement has been disrupted. Taking into account the hostile policy of Poland and the Baltic countries, Chinese logistics companies are reviewing the routes of goods delivery to Europe via the Silk Road. Beijing is studying the experience of "crippling sanctions" against Russia. After all, Washington has threatened to impose similar sanctions not only in case of the aggravation of the situation around the Taiwan island, but even if China refuses to participate in sanctions against Russia.

The US' convulsive attempts to return itself to the role of world hegemon are unlikely to succeed. But they can cause considerable harm to mutually beneficial relations between countries, which will be difficult to compensate quickly.

The author is head of the "Russian Dream-Chinese Dream" analytic center of the Izborsk Club. opinion@globaltimes.com.cn

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Asia-Pacific countries should not stand under 'dangerous wall' of NATO: Global Times editorial

The sewage of the Cold War cannot be allowed to flow into the Pacific Ocean.

NATO to set stage for extending into Asia-Pacific, faces internal difference

On the heel of the G7 summit, NATO leaders are scheduled to convene in Spain from Tuesday to Thursday for their annual summit with the main focus on Russia and toughening up its stance toward China, while analysts said including China in the US-led military bloc's new strategic concept cannot help alleviate US divergences with the EU, especially on China, and severe domestic problems will also weaken Washington's ambitious plan to maintain hegemony.

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Thursday, June 23, 2022

BRICS summit kicks off, calls grow for parallel payment system to counter US hegemony

How does BRICS continually play its role in the world？

It's been 16 years since the foundation of the BRICS mechanism was laid. China hopes to work with all BRICS countries to respond to the major concerns of the international community and build a more comprehensive, closer, more practical and inclusive partnership. Even more, China hopes to keep its promises to the 2030 Agenda for Sustainable Development Goals.Against current risks and challenges, the participants also pledged to ensure that the customs authorities of BRICS countries continue to work together to safeguard the international supply chain and promote rapid economic and trade recovery among BRICS countries. In this upcoming episode of "The Chat Room", we talk about how does BRICS continually play its role in the world. Also, focusing on the member states' achievements and challenges under BRICS, we invite five guests from BRICS countries to share their opinions. How does Sino-Indian cooperation play its role in the world? What's the current economic situation of BRICS? What roles has BRICS found itself in the world? How should we see BRICS+ in the future? #BRICS2022

China's Xi Slams Sanctions for 'Weaponizing' World Economy at BRICS

BRICS-led New Development Bank approaches 7th anniversary

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Aerial photo taken on June 17, 2022 shows the headquarters building of the New Development Bank (NDB), also known as the BRICS bank, in east China's Shanghai.(Photo: Xinhua)

In a keynote speech at the opening ceremony of the BRICS Business Forum on Wednesday, Chinese President Xi Jinping called on the BRICS business community to expand cooperation on cross-border e-commerce, logistics and local currencies.

As the 14th summit of the BRICS, a group of major emerging market economies comprising Brazil, Russia, India, China and South Africa, kicked off on Wednesday, there are growing calls from bankers and economists in BRICS countries, especially Russia, for the bloc to expand national currency settlements and lending to counter the US' weaponization of the dollar.

Russian President Vladimir Putin said in a welcome address to BRICS Business Forum participants on Wednesday that the issue of creating an international reserve currency based on a basket of currencies is under review, Russian news agency TASS reported.

"The BRICS and other interested nations need to talk about setting up their own independent global financial system - whether it would be based on the Chinese currency or they will agree on something different. They need to debate this," Sergey Storchak, chief banker of Russian bank VEB.RF, told the Global Times in a video interview on Tuesday.

Storchak said that he hopes during China's presidency of this year's BRICS summit, member countries have open discussions on what really needs to be done.

VEB.RF is a major financial development institution in Russia that has been excluded from the SWIFT system.

There has been an ongoing discussion within the BRICS to accelerate payments in national currencies for years, and the need is becoming particularly urgent after the US removed some Russian banks from the SWIFT global interbank payments system and forced other economies to pay for its economic problems with sizeable financial tightening.

"If the voices of emerging markets are not being heard in the coming years, we need to think very seriously about setting up a parallel regional system, or maybe a global system," he said.

The impact of being pushed out of the SWIFT system is quite large, Storchak said. "The biggest issue is the transfer of money and information, and we need to come to the issue of the wide utilization of national currencies. It would mean that we would not need to use the banking system of either the US or the EU," he said.

Such calls for an independent payment system are growing within the BRICS.

Marco Fernandes, a Brazil researcher at the Tricontinental Institute for Social Research, also called on the BRICS to focus on creating an alternative to the US dollar's hegemony in global transactions at a conference at the Chongyang Institute for Financial Studies of the Renmin University of China on Tuesday.

"After confiscating tens of billions of dollars in reserves and assets from countries like Iran, Venezuela and Afghanistan, the seizure by the US and the EU of more than $300 billion of Russia's reserves, triggered a global alert, reaffirming the urgency of alternatives to the dollar's dominance," Fernandes said.

Analysts noted that the US' increasing use of the dollar as a political weapon in recent years - through sanctions or conditional loans - prompts countries to seek other currencies for commercial transactions and in the composition of their foreign reserves.

To shrug off pressure from the US to join in its sanctions against Russia, India was exploring the possibility of using the Chinese yuan as a reference currency in an India-Russia payment settlement mechanism for its oil trade with Russia, Indian news outlet Livemint reported in May.

In addition, former Kremlin economic adviser Sergey Glazyev has proposed a new global financial system - via an association between the Eurasian Economic Union and China - that would be underpinned by digital currency and backed by a basket of new foreign currencies and natural resources of the member countries, according to website The Cradle, which mainly covers West Asian geopolitics.

Cao Heping, an economist at Peking University, said that there are other bilateral or multilateral global settlement systems for cross-border financial services, including China's Cross-border Interbank Payment System (CIPS).

The CIPS processed around 80 trillion yuan ($11.91 trillion) in 2021, up more than 75 percent year-on-year. According to data from SWIFT, the yuan retained its position as the fifth most active currency for global payments by value in April, with a share of 2.14 percent.

Cao suggested that BRICS members step up cooperation in investment and financing in major sectors such as strategic emerging industries and digital innovation in a bid to boost the use of local currencies in trade and investment settlement.

BRICS countries are an important driving force for regional and global economic and trade growth. Despite the prolonged impact of COVID-19, the total volume of trade in goods of BRICS countries reached nearly $8.55 trillion in 2021, up 33.4 percent year-on-year, official data showed.

The bloc accounts for 18 percent of trade in goods and 25 percent of foreign investment globally, statistics show.

"Along with the development of the mobile internet, digital payment has also become a tool for cross-border transactions. More opportunities are expected in this regard," Cao said.

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Wednesday, June 22, 2022

Covid-19 patients can get antiviral drug Paxlovid for Free

More than 1,300 patients have recovered from Covid-19 with no side effects after taking Paxlovid, says health minister Khairy Jamaluddin. (Reuters pic)

PETALING JAYA: The antiviral drug Paxlovid will be available for free to Covid-19 patients at private health facilities, says the Health Minister.

Khairy Jamaluddin said the drug has been available at these facilities since Monday, and his ministry had distributed the circulars and guidelines on the expansion and use of the drug to private healthcare on June 16.

ALSO READ: Covid-19: Over 1,300 patients recovered after Paxlovid treatment, says KJ

“The provision of the drug to patients at private health facilities is free. However, patients are still subject to consultation charges and other related charges determined by the private health facility,” he added.

Paxlovid is the first oral antiviral drug available in Malaysia that treats Covid-19 patients with mild to moderate symptoms or Categories 2 and 3.

Khairy said priority would be given to the high-risk group of Covid-19 patients.

ALSO READ: Covid-19: Over 1,300 patients recovered after Paxlovid treatment, says KJ

The use of the antiviral drug started in health facilities under the ministry on April 15.

Meanwhile, Khairy also said 107,844 individuals aged 12 and above had received their second Covid-19 booster jab as of Monday.

He added that 57,834 out of the total were individuals aged 60 and above.

ALSO READ: Covid-19: Health Ministry to prepare 3,000 courses of Paxlovid ahead of haj season

“We encourage senior citizens and individuals with chronic conditions to get the second booster. To date, we have not received any reports on severe side effects following the second booster shot,” he told a media conference after launching the ministry’s Hospital Directors Conference at a hotel here.

Covid-19 cases will fluctuate, and a potential new infection wave might emerge in the next few months, although the current situation is under control, said Khairy.

“Perhaps we can expect a new wave within the next two and three months, but the magnitude is still unknown.

“Based on epidemiological developments in other countries, a new wave could be ahead,” he added, encouraging high-risk individuals to be inoculated with the fourth Covid-19 vaccine shot.

ALSO READ: Covid-19: Paxlovid antiviral to be free, enough supply to treat 48,000 patients

Commenting on the rebooted immunisation programme for kids (PICKids), the minister said the decision was taken as the ministry found that there were children who had not received information on the previous immunisation programme.

“As PICKids was announced to be ending for those children above five years old, the ministry realised that there are pockets of the population which had not received information on Covid-19 vaccines.

“The ministry is now helping these groups get access to Covid-19 vaccination at its health clinics,” he added.

Khairy said that 397 kids were inoculated on the first day of the five-day campaign, of whom 150 had just turned five.

On Sunday, Deputy Health Minister Datuk Dr Noor Azmi Ghazali announced PICKids would reopen from Monday until Friday in conjunction with the 2022 National Immunisation Week.

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