00:00The global economy has yet to feel the full impact of rising oil prices linked to the
00:05conflict between Iran, Israel and the US, according to an economist.
00:10Kazana Research Institute Chairperson Nung Sari Ahmad Rady says the most serious economic
00:15effects are likely to emerge in the coming months, as higher energy costs filter through
00:21the markets.
00:22So basically, the first order effects have already manifested itself.
00:28But to the extent, which is actually translated into oil prices, we've seen oil prices, brand
00:34or WTI has gone up to almost $120 per barrel, come back down to about $90 now, given what
00:42Trump has said.
00:44But the second order transmission from oil and gas to electricity and then to logistics to
00:50insurance and so on, that has yet to unfold itself, actually, the second order effects.
00:56And then as far as have we seen the worst in terms of the transmission between oil and
01:02energy prices to the real side of the economy, in terms of growth, exports and so on, we definitely
01:08have not seen the worst of it.
01:11However, Nung Sari added that Malaysia may be partly protected from the shocks for now
01:16as it produces and exports crude oil and natural gas.
01:21But as far as how do we hedge against it, I mean, the only thing I can think of is
01:27actually
01:28because we are a producer, we have some reserve in that sense, whether it is export control
01:33and so on.
01:34But the fact remains that we will be the recipient of the effects of elevated prices.
01:42So for that, we have to prepare because I think our businesses, small businesses, our
01:48companies and even household electricity prices might be put under pressure because of coal
01:55prices have gone up.
01:56People immediately go and buy coal because gas went up and then coal prices have gone up as
02:02well.
02:02a lot of maintenance needs to be done.
02:02So and I didn't see that, according to that, we are allowed to go to oil.
02:02As a number is actually done, you know, when we bought called oil and excess oil, we bought
02:03By fueling big assets, it originiens it all were to try to hold it as well and D 잡ry
02:03are a mid- study by saw-page of a tax area.
02:03At least after that, we can use that material and demand, understanding.
02:03The stage of greed, pigeon alleine, also made a balance ofně-type clarification refuse,
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