Impact of Foreign Exchange Administration Rule on the Nexus between Country-Specific FDI and Malaysian Currency

In the aftermath of the US Presidential election on 8 November 2016, the Malaysian currency Ringgit (MYR) had witnessed unprecedented volatility in its value relative to the USD. As a policy response, Bank Negara Malaysia (BNM) implemented a Supplemental Foreign Exchange Administration (SFEA) Rule in December 2016. Exporters are required to convert 75 per cent of foreign currency proceeds from the exports of goods into MYR with a licensed onshore bank. This study evaluates the impact of the new SFEA Rule on the relationship between country-specific FDI and MYR. Based on the data of five major inward FDI countries from 2015 to 2018, our results show: Firstly, Japanese FDI strengthens MYR in post-SFEA Rule; Secondly, FDI from Singapore is found to exert downward pressure on MYR; Thirdly, FDI from China, the Netherlands and the US are insignificant in influencing the MYR; Finally, inward FDI from different countries responds differently to the Rule. Notably, the results obtained are robust to different measures of the exchange rate. On policy suggestion, the Foreign Exchange Rule should also target non-export oriented inward FDIs to achieve the policy target. The result also highlights the importance of export-oriented FDIs for the long-run benefit of the Malaysian economy

INFORMATION FLOW BETWEEN THE US DOLLAR-RUPIAH EXCHANGE RATES

This study investigates the information flow between non-deliverable forward (NDF), spot, and forward US dollar–rupiah exchange rates during the post-Quantitative Easing (QE) period. Our results show a unidirectional information flow from NDF to the spot and forward rates in the post-QE period. We also find that the Indonesian government securities (IGS) played a vital role during the QE period, while international reserves preceded the US dollar–rupiah spot, forward, and NDF exchange rates post-QE. Hence, international reserves became an important policy variable in managing the currency value. Our finding redefines the role of IGS as a policy tool. As a policy suggestion, the Bank Indonesia should maintain a sufficient amount of foreign reserves to mitigate foreign exchange risks of the rupiah.This study investigates the information flow between non-deliverable forward (NDF), spot, and forward US dollar–rupiah exchange rates during the post-Quantitative Easing (QE) period. Our results show a unidirectional information flow from NDF to the spot and forward rates in the post-QE period. We also find that the Indonesian government securities (IGS) played a vital role during the QE period, while international reserves preceded the US dollar–rupiah spot, forward, and NDF exchange rates post-QE. Hence, international reserves became an important policy variable in managing the currency value. Our finding redefines the role of IGS as a policy tool. As a policy suggestion, the Bank Indonesia should maintain a sufficient amount of foreign reserves to mitigate foreign exchange risks of the rupiah

Nexus Between Official Development Aid, Institutional Quality and Economic Growth: Evidence from CLMV countries

This study examines the effect of country-specific Official Development Aid (ODA) and institutional quality on economic growth for Cambodia, Laos, Myanmar, and Vietnam (CLMV) countries from 2002 to 2017. Our results indicate that: First, the impact of ODA from Germany, Japan and France on economic growth is conditional on the level of institutional quality of CLMV countries. The ODA has a negative impact on growth when institutional quality is low. Beyond a threshold of institutional quality, ODA promotes economic growth. Second, the results are robust after controlling for outliers and endogeneity in the model. Third, the further analysis provides evidence that the mitigating effect of institutional quality works through both labour productivity and human capital growth channel. Based on the findings, this study offers some imperative policy recommendations to both donor countries and ODA recipients

Has Digitalisation Mitigated the Impact of Covid-19 on the Manufacturing Sector’s Performance?

The Covid-19 pandemic brought many businesses to a standstill as international travel restriction was imposed across countries in addition to a national lockdown. Firm performances were depressed due to reduced order and output. This study examines whether digitalization has mitigated the negative impact of the Covid-19 pandemic on Malaysia’s manufacturing sector. Using sales as the performance yardstick of 24 industrial sectors from January to December 2020, our result shows that manufacturing sales performance was negatively related to the Covid-19 pandemic. However, the adverse impact of Covid-19 was mitigated with a higher level of digitalization. The mitigating role of digitalization remains robust in further analysis. This study has managed to quantify the mitigating effect of Covid-19 on manufacturing sectors. As a policy implication, the government should expedite the introduction of the 5G network, promote digital adoption across all sectors to ensure business continuity and provide an effective response mechanism in any pandemic or crisis

Warning Signage on Cigarette Packaging and Buying Behaviour: Does It Really Matter?

The implementation of warning signage on cigarette packaging is widely practiced in various parts of the world, including developing markets.The purpose is todiscourage people from buying cigarette and smoking.Despite the effort to promotethe importance of health to the publics, the effectiveness of warning signage with negative messages on cigarette packaging remains largely inconclusive.Hence, the present study attempts to investigate the effect of religiosity, cultural orientation and peer influence on buying cigarette, and the moderation effect of warning signageon cigarette packaging in the Sarawakian context. Utilizing purposive sampling technique, self-administered questionnaire was administered. 156 usable copies were collected in a month time. Data were then analyzed using PROCESS macro in SPSS. The findings show that while peer influence has positive effect on buying behaviour, warning signage only moderates the relationship between cultural orientation and buying behaviour. As such it highlights the importance to cultivate healthy cultural values, and suggests the need to utilize warning signage on packaging in the appropriate manner so as to communicate the intended messages effectively. Implications and future studies are provided

Lasting DNA Damage and Aberrant DNA Repair Gene Expression Profile Are Associated with Post-Chronic Cadmium Exposure in Human Bronchial Epithelial Cells

Cadmium (Cd) is a widespread environmental pollutant and carcinogen. Although the exact mechanisms of Cd-induced carcinogenesis remain unclear, previous acute/chronic Cd exposure studies have shown that Cd exerts its cytotoxic and carcinogenic effects through multiple mechanisms, including interference with the DNA repair system. However, the effects of post-chronic Cd exposure remain unknown. Here, we establish a unique post-chronic Cd-exposed human lung cell model (the CR0 cells) and investigate the effects of post-chronic Cd exposure on the DNA repair system. We found that the CR0 cells retained Cd-resistant property even though it was grown in Cd-free culture medium for over a year. The CR0 cells had lasting DNA damage due to reduced DNA repair capacity and an aberrant DNA repair gene expression profile. A total of 12 DNA repair genes associated with post-chronic Cd exposure were identified, and they could be potential biomarkers for identifying post-chronic Cd exposure. Clinical database analysis suggests that some of the DNA repair genes play a role in lung cancer patients with different smoking histories. Generally, CR0 cells were more sensitive to chemotherapeutic (cisplatin, gemcitabine, and vinorelbine tartrate) and DNA damaging (H2O2) agents, which may represent a double-edged sword for cancer prevention and treatment. Overall, we demonstrated for the first time that the effects of post-chronic Cd exposure on human lung cells are long-lasting and different from that of acute and chronic exposures. Findings from our study unveiled a new perspective on Cd-induced carcinogenesis-the post-chronic exposure of Cd. This study encourages the field of post-exposure research which is crucial but has long been ignored

A review: modified agricultural by-products for the development and fortification of food products and nutraceuticals

Producing more food for a growing population in the coming decades, while at the same time combating environmental issues, is a huge challenge faced by the worldwide population. The risks that come with climate change make the mission more daunting. Billion tons of agriculture by-products are produced each year along the agricultural and food processing processes. There is a need to take further actions on exploring the inner potential of agro-waste to stand out as food ingredient to partially or fully substitute the foods in orthodox list. Some of the agro-waste contains the most valuable nutrients in the plant and it is truly a “waste” to dispose any of them. Furthermore, the paper aims at discussing the possible methods of modification to improve the safety and feasibility of the agro-waste either through physical, chemical or microbiological ways. The safety issues and bioactivity contains in the agro-waste also been discussed to present the better overall ideas about the employing of agro-waste in food applications

What Does It Mean for a Case to be ‘Local’?: the Importance of Local Relevance and Resonance for Bioethics Education in the Asia-Pacific Region

Contemporary bioethics education has been developed predominately within Euro-American contexts, and now, other global regions are increasingly joining the field, leading to a richer global understanding. Nevertheless, many standard bioethics curriculum materials retain a narrow geographic focus. The purpose of this article is to use local cases from the Asia-Pacific region as examples for exploring questions such as ‘what makes a case or example truly local, and why?’, ‘what topics have we found to be best explained through local cases or examples?’, and ‘how does one identify a relevant local case?’ Furthermore, we consider the global application of local cases to help extend the possible scope of the discussion, opening new avenues for the development of practical bioethics educational materials. We begin with a background description and discussion of why local cases enhance bioethics education, move to an overview of what is currently available and what is not for the region, and then outline a discussion of what it means to be local using example cases drawn from Hong Kong, Australia, Pakistan, and Malaysia. We are not creating a casebook but rather constructing by example a toolbox for designing active and dynamic learning cases using regional diversity as contextualised cases with generalised principles

A community-based prospective cohort study of dengue viral infection in Malaysia: the study protocol

Daniel Reidpath - ORCID: 0000-0002-8796-0420 https://orcid.org/0000-0002-8796-0420Background Globally, dengue infections constitute a significant public health burden. In recent decades, Malaysia has become a dengue hyper-endemic country with the co-circulation of the four dengue virus serotypes. The cyclical dominance of sub-types contributes to a pattern of major outbreaks. The consequences can be observed in the rising incidence of reported dengue cases and dengue related deaths. Understanding the complex interaction of the dengue virus, its human hosts and the mosquito vectors at the community level may help develop strategies for addressing the problem. Methods A prospective cohort study will be conducted in Segamat district of Johor State in Peninsular Malaysia. Researchers received approval from the Malaysian Medical Research Ethics Committee and Monash University Human Research Ethics Committee. The study will be conducted at a Malaysian based health and demographic surveillance site over a 1 year period in three different settings (urban, semi-urban and rural). The study will recruit healthy adults (male and female) aged 18 years and over, from three ethnic groups (Malay, Chinese and Indian). The sample size calculated using the Fleiss method with continuity correction is 333. Sero-surveillance of participants will be undertaken to identify asymptomatic, otherwise healthy cases; cases with dengue fever who are managed as out-patients; and cases with dengue fever admitted to a hospital. A genetic analysis of the participants will be undertaken to determine whether there is a relationship between genetic predisposition and disease severity. A detailed medical history, past history of dengue infection, vaccination history against other flaviviruses such as Japanese encephalitis and Yellow fever, and the family history of dengue infection will also be collected. In addition, a mosquito surveillance will be carried out simultaneously in recruitment areas to determine the molecular taxonomy of circulating vectors. Discussion The research findings will estimate the burden of asymptomatic and symptomatic dengue at the community level. It will also examine the relationship between virus serotypes and host genotypes, and the association of the clinical manifestation of the early phase with the entire course of illness.https://doi.org/10.1186/s40249-016-0172-35pubpub