Can we still trust The Star??

I was reading news from the star like i always do. I’m one of their loyal readers but in this few times I found out their quality decrease a lot. Based on the news ‘Declining prices spell gloom’, I found out that the currency that they wrote is totally wrong. I’m now doubting whether I still can trust their news or not. If no, where should i go and read online news??

Back to the topic. Look this;

On top of this, palm oil prices have fallen by as much as 65%. In March, palm oil was at RM4,486 per ton and yesterday, it was US$1,565.

If we calculate using the US currency USD1=RM3.3, which means the palm oil yesterday was RM5164.5. Isn’t that a large number compared the price per ton in march?

Don’t you ever wonder what is happening right here and right now? The Star is a newspaper company which is ranked as high as New Strait Times, and we suppose that it was a big company. Inside their hierarchy there are editors and authors but what happen here is their editors did not take a good care of their news quality.

When we talk about news, people will usually like to read something interesting and professionally written. Are they recruiting new author that has bad English or a bad sense of knowledge? I’m a reader out here and I feel disappointed with this.

Hope they do cover back the quality scratch.

Declining prices spell gloom

KUALA LUMPUR: Falling oil and commodity prices sound like good news for the consumers but to the Government, it means a shortfall of billions of ringgit in revenue.

Petroleum-based revenue account for 40% of the Government’s projected income and Second Finance Minister Tan Sri Nor Mohamed Yakcop said other streams of revenue must now be found to meet this shortfall.

The main headache for the Government is falling crude oil price, which dipped as low as US$67.40 per barrel yesterday in New York.

When the Government planned its budget for next year, it did so by calculating its revenue based on oil prices at US$125 per barrel.

On top of this, palm oil prices have fallen by as much as 65%. In March, palm oil was at RM4,486 per ton and yesterday, it was US$1,565.

Bernama reported Nor Mohamed as saying that the impact from falling petroleum price would only be felt in 2010 as government revenue should remain good next year because petroleum companies would pay the taxes based on their 2008 incomes, where on average the crude oil price remained at a reasonably high level.

“However, in 2010 it could become an issue if the crude oil price in 2009 were to stay at US$70 per barrel level as the companies will pay taxes and dividends based on a lower crude oil price,” he told reporters after launching Amanah Ikhtiar Malaysia Puchong branch’s urban area micro financing programme here yesterday.

He said the Government has to make sure there were other revenue sources but declined to reveal the other sources of income being looked into.

Petronas paid the Government a special dividend of RM6bil for the year ended March 31, bringing its total dividend for the period to RM30bil.

However, industry sources said even the 2009 revenue could be hit by the drastic fall of crude oil prices, which started in September.

“The high crude oil prices lasted for about four months and prices are expected to continue to fall for the rest of the year.

“Already, it is forecasted that actual demand for petroleum in the United States had fallen by one million barrel,” said a source.

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