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ASM Unitholders Get 6.30 Sen Per Unit

2010-03-22T07:26:00.000-07:00

Amanah Saham Nasional Bhd (ASNB) today announced an income distribution of 6.30 sen per unit for Amanah Saham Malaysia (ASM) for the financial year ended March 31, 2010.

Last year, the government-owned fund manager declared an income distribution of 6.25 sen per unit, which was the lowest since its introduction in 2000.

The highest dividend given by the wholly-owned subsidiary of Permodalan Nasional Bhd (PNB) was 7.8 sen.

PNB chairman Tun Ahmad Sarji Abdul Hamid said the income distribution involved a total payout of RM654.06 million, an increase of 60.5 per cent from RM407.58 million paid in 2009.

The payment will benefit 552,000 unitholders who had subscribed to 11.2 billion ASM units as at March 19, 2010.

When announcing the income distribution for ASM here, Ahmad Sarji said the equity market and the domestic investment environment had shown market improvement compared with the situation a year earlier, in line with the global economic and financial market recovery throughout the ASM financial year.

"These factors, combined with the successful implementation of the RM67 billion government stimulus package and accomodative monetary policy, has helped Malaysia to record positive growth in its gross domestic product (GDP) of 4.5 per cent in the fourth quarter of 2009," he said.

PNB president and group chief executive Tan Sri Hamad Kama Piah Che Othman said the payout of 6.30 sen was still better compared to payouts from other instruments with a similar risk profile.

"We feel that this figure is good enough for our unitholders. If we were to look in total, our capacity is to pay out 7.40 sen per unit but we only paid 6.30 sen because we want to have more reserves to bring forward next year," he said, adding that PNB has about RM118 million ASM reserves for 2011.

"The performance of the fund still depends on the market performance, which we hope our stock market will be better in tandem with the positive GDP growth."

Hamad Kama Piah said most analysts had projected the benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) to index to hover around 1,300 to 1,400 level this year.

"Foreign interest in the stock market is considered the lowest at present. Most probably the buying appetite will come back soon, then we can see better margin," he said.

Up until March 19, 2010, ASM had recorded a gross income of RM800.83 million. Profit from the sale of shares contributed RM429.83 million, or 53.7 per cent of the gross income.

Dividend income provided RM259.69 million or 32.4 per cent and the remaining income of RM111.31 million or 13.9 per cent was derived from investments in short-term instruments.

The income distribution will be reinvested in additional ASM units to be automatically credited into the unitholders' accounts on April 1, 2010.

ASM is a fixed priced equity-income fund aimed at providing unitholders with a long-term investment opportunity that generates regular and competitive returns through a diversified portfolio of investments.

Six Billion Amanah Saham 1Malaysia Units Still Available For Subscription

2010-03-22T07:25:00.000-07:00

Six billion Amanah Saham 1Malaysia (AS1M) units are still available for public subscription, to-date.

Permodalan Nasional Bhd (PNB) President and Group Chief Executive Tan Sri Hamad Kama Piah Che Othman said the Bumiputera and Indian quota made up the bulk of the remaining portion.

Saying that the subscription pace had not changed much since ASM1 was launched in July last year, he said the take-up rate was the fastest among the Chinese.

"Only eight per cent or 238 million units of the three billion units allocated for the Chinese community is still available," he told reporters after announcing the income distribution for Amanah Saham Malaysia (ASM) here on Monday.

He said the equity income fund enjoyed brisk sale among the Chinese community as not many funds offered by PNB were open to non-Bumiputeras.

"Many people are still waiting for the maiden dividend to be announced. They want to compare with other funds, under PNB, to determine if the returns from AS1M is as attractive as other unit trusts," he said.

Hamad Kama Piah said Bumiputeras were more comfortable investing in Amanah Saham Bumiputera (ASB) and Amanah Saham Didik.

The AS1M, a fixed price fund of RM1 per unit, is open to all Malaysians with 50 per cent allocated to Bumiputeras, 30 per cent Chinese, 15 per cent Indians and other races, five per cent.

The fund is the fifth launched by PNB after the ASB, ASM, Amanah Saham Didik and Amanah Saham Wawasan 2020.

Vehicle Sales In February 2010 Up 1.09 Per Cent

2010-03-22T07:24:00.000-07:00

Sales of passenger cars and commercial vehicles in February 2010 rose 1.09 per cent year-on-year to 40,654 units from 37,386 units but on a month-on-month basis, it was down by 19.7 per cent.

The Malaysian Automotive Association (MAA) attributed the lower sales due to short working month because of the Chinese New Year holidays.

Sales of passenger vehicles in February 2010 rose to 36,551 units from 33,992 units in the corresponding month last year while that of commercial vehicles rose to 4,103 units from 3,394 units, it said in a statement on Monday.

Sales of passenger vehicles in the first two months of the year increased to 82,524 units from 68,621 units in the corresponding period last year.

Sales of commercial vehicles in the same period went up to 8,752 units from 6,872 units previously.

For the two-month period, the total industry volume rose to 91,568 units from 78,059 units in the same period last year.

MAA said total production of vehicles in February 2010 went down to 40,272 units from 40,632 units in the corresponding month last year.

Production of passenger vehicles in February declined to 36,740 units from 36,985 units in the corresponding month last year while that of commercial vehicles dropped to 3,532 units from 3,647 units.

However, production of passenger vehicles in the two-month period rose to 82,912 units from 69,406 units in the same period last year while that of commercial vehicles went up to 8,656 units from 8,653 units.

Going forward, MAA said that sales volume for March 2010 is expected to be better than February due to seasonal factor.

"This is likely to continue the year-on-year sales volume expansion recorded in the first two months of this year," it said.

Vincent Tan In Forbes Billionaires List

2010-03-11T15:44:00.000-08:00

Berjaya Chairman and Chief Executive Officer Tan Sri Vincent Tan became the latest Malaysian tycoon to make it into the Forbes' 2010 world billionaires list.

The newcomer, who is worth US$1.2 billion and ranked 828, joined another eight Malaysian regulars who were among the 1,011 billionaires on the global list released by Forbes on Thursday.

The other Malaysians were sugar king Robert Kuok who was ranked 33 with a net worth of US$14.5 billion, followed by telecommunications magnate Ananda Krishnan (89)(US$7.6 billion), IOI Corporation Chairman Tan Sri Lee Shin Cheng (189)(US$4.4 billion), Public Bank Chairman Tan Sri Teh Hong Piow (277)(US$3.4 billion).

Hong Leong Group Chairman Tan Sri Quek Leng Chan (277) (US$3.4 billion), YTL Corporation Chairman Yeoh Tiong Lay and family (421) (US$2.3 billion), Tan Sri Syed Mokhtar Al-Bukhary (655) (US$1.5 billion) and Rimbunan Hijau Group Chairman Tiong Hiew King (937) (US$1.0 billion).

Forbes said the number of tycoons from the Asia-Pacific region with a ten-figure net worth has risen to 234 from 130 last year, of which 62 were first-time billionaires out of a total of 97 new billionaires in the world.

This accounted for 23 per cent of the 1,011 billionaires on the global list against 16 per cent of the 793 billionaires the year before.

The combined wealth of Asian billionaires had also more than doubled to US$729 billion compared with $357 billion a year ago.

This rate of increase far outpaced that of European tycoons who saw their collective fortune rise by 50 per cent while their US counterparts enjoyed only an 18 per cent increase.

Of the Asian economies, China continues to lead the pack by more than doubling its number of billionaires to 64 from 28 last year, followed by India with 49 from 24 previously.

Third is Hong Kong with 25 billionaires, followed by 22 from Japan, 18 from Taiwan, 11 each from Australia and South Korea.

There were seven from Indonesia, five from Kazakhstan, four from Singapore, three each from New Zealand and Thailand, two from the Philippines, and one from Pakistan.

The richest man in Asia-Pacific and fourth in the world rankings is Mukesh Ambani from India, head of Reliance Industries.

The richest man in the world is Mexican telecom titan Carlos Slim Helu and family.

AmBank Increases Interest Rates For Fixed Deposits

2010-03-11T15:43:00.002-08:00

AmBank (M) Bhd has increased the interest rates for fixed deposits, effective on Thursday.

In a statement here, AmBank said this followed the recent increase in overnight policy rate by Bank Negara Malaysia and in line with its recent increase in its base lending rate from 5.55 per cent per annum to 5.80 per cent.

AmBank said it has passed on the full 25-basis-point rise to the customers' fixed deposits for one month and 12 months.

New Economic Model To Be Announced On March 30

2010-03-11T15:43:00.001-08:00

The first stage of the New Economic Model (NEM) will be announced on March 30, Prime Minister Datuk Seri Najib Tun Razak said on Thursday.

The second stage of the model would be announced at the tabling of the 10th Malaysia Plan.

HLB Introduces Online Business Service

2010-03-11T15:40:00.000-08:00

Hong Leong Bank Bhd (HLB) has launched a new online service, Hong Leong Online (Business), designed to innovate and strengthen its cash management services.

"In today's fast-paced environment, HLB consistently tries to provide more innovative online banking solutions.

"The introduction of the Hong Leong Online (Business), is one such way," said HLB's Chief Operating Officer of Wholesale Banking, Kua Wei Jin in a statement on Wednesday.

He also said that some important account management functions such as current account, foreign currency accounts, loan accounts and fixed deposit balance inquiries, would be incorporated into the new online service.

According to Kua, HLB will enable the electronic payment of SOCSO contributions in the next two months with more plans for customers by the year end.

Asian Finance Bank Bhd (AFB) will raise its base financing rate to 5.75 per cent, from the current 5.5 per cent, effective March 9.

2010-03-08T15:03:00.000-08:00

Asian Finance Bank Bhd (AFB) will raise its base financing rate to 5.75 per cent, from the current 5.5 per cent, effective March 9.

Its Chief Executive Officer, Datuk Mohamed Azahari Kamil, said the increase was in line with the 25 basis points hike in overnight policy rate to 2.25 per cent.

Demand for financing would not be dampened as the economic recovery was firmly established as shown in the latest Gross Domestic Product (GDP) figures, he said in a statement on Monday.

He also said Bank Negara's move should be seen as part of a "normalisation" process and not as a "tightening" cycle.

"AFB was committed to offer financing to good rated customers and financing approved by the bank, todate, had surpassed RM1 billion.

"We are more selective now as we are entering the second phase of the bank's assets growth," he added.

RHB Raises BLR, BFR To 5.8 Pct

2010-03-08T15:02:00.002-08:00

RHB Bank Bhd and RHB Islamic Bank Bhd will raise its Base Lending Rate and Base Financing Rate respectively to 5.8 per cent from the current 5.5 per cent effective tomorrow.

Group Managing Director Datuk Tajuddin Atan said the revision was in line with Bank Negara Malaysia's move to increase the Overnight Policy Rate (OPR) by 25 baiss points to 2.25 per cent.

"We are committed to doing our part to ensure that viable borrowers will continue to have access to financial products and services to carry out and grow their businesses in everyone's interests," he said in a statement on Monday.

"We will also be balancing the increased borrowing rates by offering more competitive rates for depositors," he added.

Last Thursday, the central bank said the adjustment of OPR was towards normalising monetary conditions and preventing the risk of financial imbalances that could undermine the economic recovery process.

Hong Leong Raises BLR To 5.8 Pct

2010-03-08T15:02:00.001-08:00

Hong Leong Bank Bhd and Hong Leong Islamic Bank Bhd will raise their base lending rate (BLR) and Islamic financing rate (IFR) to 5.8 per cent from 5.5 per cent effective this March 10.

Its group managing director, Datuk Yvonne Chia today said the change supports Bank Negara Malaysia's decision to increase the overnight policy rate (OPR) by 25 basis points.

In a statement here, she said the bank would also continue to work closely with its customers to address all their financing needs.

Last Thursday, the central bank said the decision to raise the key interest rate was made amid an improved economic outlook.

Following its Monetary Policy Committee (MPC) meeting, Bank Negara added that the adjustment to the OPR was towards normalising monetary conditions and preventing the risk of financial imbalances that could undermine the economic recovery process.

Maybank Raises BLR To 5.80 Pct

2010-03-08T14:59:00.000-08:00

Maybank is revising its Base Lending Rate (BLR) from 5.55 per cent per annum currently to 5.80 per cent per annum effective tomorrow.

The Base Financing Rate (BFR) of Maybank Islamic Bhd would similarly be revised from 5.55 per cent to 5.80 per cent, Maybank said in a statement on Monday.

Maybank President and Chief Executive Officer Datuk Seri Abdul Wahid Omar said the interest rate revision was based on the recent adjustment in the Overnight Policy Rate.

"We expect to see better growth from our core business segments, leveraging on the improving economic environment and as more customers take advantage of the diversity of our product and service offerings," he said.

The last time Maybank and Maybank Islamic changed their BLR and BFR respectively was on March 2, 2009 when the rates were revised from 5.95 per cent to 5.55 per cent.

PNB Offers 300 Million ASD

2010-03-08T14:58:00.000-08:00

The size of the Amanah Saham Didik (ASD) has swelled to 3.8 billion units following the announcement by Amanah Saham Nasional Bhd, a subsidiary of Permodalan Nasional Bhd (PNB) that it is offering an additional 300 million units.

The offer of new units was the 11th since ASD was launched in 2001, with the initial 300 million units, said PNB, Malaysia's biggest fund manager, in a statement Monday.

As of Jan 31, 2010, 3.36 billion units were subscribed by 271,226 unitholders, said PNB President and Group Chief Executive Tan Sri Hamad Kama Piah Che Othman in a statement.

Of the total, 89.92 per cent unitholders were aged 18 years' old, who invested in the scheme for education financing, he added.

ASD is an equity fund offered to Bumiputeras from as young as six-month-old at RM1 per unit. There is no limit to maximum units subscribed but subject to units available.

Will key interest rate continue to rise?

2010-03-07T16:38:00.000-08:00

The first interest rate hike for quite a while announced by Bank Negara Malaysia last week did not dent sentiment both on stocks and as several analysts said, spending in general.

It was expected as given the raise in the overnight policy rate (OPR) was just 0.25 per cent, and from a historic low of 2 per cent, the hike was insignificant. But whether Bank Negara will stop at that is another question altogether.

Banking stocks, as anticipated, responded well as the increase means better interest margins for banks but they were quick to assure customers that the OPR remained low compared with the historic lows in early 2009 when keeping interest rates low was made one of the strategies to face the-then severe economic downturn.

But the last three months have seen the global economy returning to recovery mode and in Malaysia's case, a growth of 4.5 per cent was recorded.

Spending by households and businesses are expected to continue expanding with the support of a stable labour market and confidence among customers and businesses.

The question now is whether Bank Negara will continue to raise the OPR rate.

The market believes so, at least between 25 and 75 basis points, but on a gradual basis till the end of 2010. There will be four more policy meetings this year.

The market is split on the monetary policy outlook. While the majority felt that the central bank would be prompted to go ahead with more increases now that the Malaysian economy has come back on the growth track to emerge out of the recession, the central bank's conservative stance could mean it may well wait for indications from its counterparts in the US and also the region.

Governor Tan Sri Dr Zeti Akhtar Aziz has repeatedly reminded the media to use the term "normalise" and not "tighten" when describing the central bank's anticipated monetary policy change.

It is left to the market to figure what the "normalised" rate would be like for Malaysia which only introduced the OPR in 2004. At that time, the rate stood at 2.7 per cent.

In OSK Research's banking analyst Keith Wee estimates, even if Bank Negara were to raise the OPR by 75 basis points over the course of the year, the OPR at 2.75 per cent would still be significantly below the 5 per cent to 3.5 per cent range between September 2001 and October 2008.

Being the only second rate hike cycle over the past decade since the 1998 financial crisis and given that interest rates are being raised from historical lows, gradually normalising interest rates is unlikely to negatively affect loan growth and asset quality.

During the last OPR hikes (November 2005-March 2006) totalling 80 basis points, Wee said the BLR rose by a much larger 74 basis points versus one-month fixed deposit rates, 3-month fixed deposit rates and 6-month fixed deposit rates, leading to strong net interest margins but the current system flush with liquidity will ensure that deposit rates are likely to remain sticky.

New Proposal On Fuel Subsidy To Be Tabled To Cabinet

2010-03-07T16:31:00.000-08:00

The Domestic Trade, Cooperative and Consumerism Ministry will table a new proposal on the restructuring of the fuel subsidy to the Cabinet soon.

Its minister, Datuk Seri Ismail Sabri Yaakob, said the ministry, with cooperation from the Subsidy Rationalisation Lab, would propose the best implementation mechanism to channel all subsidies including fuel, food or infrastructure.

"We will also propose to the Cabinet the best suitable methods to curb the purchase of subsidised fuel by foreign nationals," he told reporters after opening the mini fuel station operated by the Gugusan Sri Makmur Felcra Settlers Cooperative here Saturday.

At present, foreign motorists are only allowed to buy fuel up to 20 litres within 50km of the borders, but the ruling does not apply to other places including Kuala Lumpur.

On March 4, the government announced that its proposed tiered fuel subsidy had been scrapped after it received negative feedback from the people and that the current system of subsidising fuel would be maintained.

Meanwhile, Ismail Sabri said the ministry would also proposed to the Cabinet to lift the freeze on the issuance of licences for mini fuel stations in rural areas imposed in 2007.

"The rationale behind this is that we need to increase the number of mini fuel stations in the rural areas," he explained.

He said the proposal to lift the freeze on the issuance of licence, however, would also introduce new and stricter licence requirements.

EPF Declares 5.65% Dividend For 2009

2010-03-05T15:45:00.000-08:00

Highest Total Dividend Paid Out of RM19.63 billion

The Employees Provident Fund (EPF) Board, with the approval of the Minister of Finance, has declared a dividend rate of 5.65 per cent for the financial year ended 31 December 2009. The dividend rate was declared on the back of the highest ever net income achieved of RM19.63 billion.

The net income represents an increase of 34.82 per cent compared to RM14.56 billion recorded in 2008 while the dividend rate for 2009 is a significant improvement of 115 basis points over the rate of 4.50 per cent paid out for 2008.

In a statement issued today, EPF Chairman Tan Sri Samsudin Osman said, “2009 was a significant year for the EPF as it rode out the impact of the global financial crisis. While the EPF continues to be challenged by the fragile economic environment, our investments nonetheless delivered a sound performance for the year.”

During the year under review, a total of 72.53 per cent of investments were devoted to Fixed Income Instruments in line with EPF’s prudent approach to investment, while 27.05 per cent was in Equities, and the remaining in Property.

As at 31 December 2009, EPF’s investment portfolio grew 8.55 per cent or RM29.25 billion to RM371.26 billion compared to RM342.01 billion in 2008. These were invested in instruments detailed in the following table:

For the 2009 dividend payout, the EPF requires RM3.43 billion to pay a one per cent dividend rate as a result of a larger membership base. This represents a 7.86 per cent increase over the amount of RM3.18 billion per one per cent dividend rate for 2008. (Refer to Appendix).

Members can check their EPF Account Statement for the crediting of the 2009 dividend from Monday, 8 March 2010 onwards.

“Barring any unforeseen circumstances, prospects for 2010 are greatly dependent on the economic performance of the country and internationally. Globally, financial markets continue to be volatile and this may have an impact on the price performance of our investments and future income. EPF will continue to focus on our key goals of preserving the capital of our contributors and ensuring a satisfactory real rate of return,” concluded Tan Sri Samsudin.

IBM Launches New POWER7 System

2010-03-02T16:48:00.000-08:00

IBM launched its new POWER7 systems during its annual IBM Technology Conference and Expo here on Tuesday.

The new IBM power system is designed to manage the most demanding emerging applications, ranging from smart electrical grids to real-time analytics for financial markets, the company said in a statement.

It can process millions of transactions in real time and analyse the associated volumes of data typical of emerging applications.

The POWER7, like other IBM power systems which run on the AIX, Linux and IBM i operating systems, is aimed to help clients manage their current applications and services at less cost, more energy savings, and with cost-efficient use of memory and better performance, IBM said.

"The new POWER7 technology and series of systems will strengthen our position in traditional business IT (information technology) and open up new opportunities to establish smarter industry infrastructures, particularly in areas we intend to focus, such as telco, financial services, energy and utilities," said Hemanth Kalikiri, Country Executive, System and Technology Group, IBM Malaysia.

Positive Growth In Several Sectors Fuelled Economic Recovery

2010-02-28T16:04:00.000-08:00

Malaysia's recovery from the global economic crisis were fuelled by positive growth registered by various sectors and not solely due to the accelerated implementation of the RM67 billion economic stimulus package, says Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah.

He said the Opposition claims that Malaysia's 2009 "better than expected" fourth quarter economic performance was the direct result of the whopping RM67 billion stimulus package was totally baseless.

"The economic recovery in the United States and Europe also provided the advantage to Malaysia. While we did not reduce our exports to Europe, we also increased our exports to Asian countries.

"Previously, our country registered a trade deficit with China, but it was no longer the case now as within a two-year period, we have recorded a trade surplus," he told reporters after launching the "Pintar MAS" programme at Sekolah Kebangsaan Manjoi Dua here on Thursday.

Ahmad Husni said the high growth rate recorded by several economic sectors provided the impetus for the country to recover from the economic crisis that plagued the world.

For instance, he said, the manufacturing sector recorded a negative growth in the first, second and third consecutive quarters last year, but rebounded in the fourth quarter, with a positive growth.

"In the first quarter, the sector registered -17.9 per cent growth, second quarter -14.5 per cent, third quarter -8.6 per cent and in the fourth quarter 5.3 per cent. All these contributed to the nation's economic growth," he added.

Prime Minister Datuk Seri Najib Tun Razak, when announcing the 2009 fourth quarter economic performance on Wednesday, said the worst was over for the country.

The 4.5 per cent economic growth registered in the fourth quarter of last year was beyond expectation, amid strengthened domestic and external demand, said Najib, who is also Finance Minister.

For the year 2009, the economy contracted by 1.7 per cent, lower than the -3 per cent projected earlier, he added.

Alert Withdrawn, No tsunami In Sabah

2010-02-28T16:01:00.000-08:00

The Meteorological Department has withdrawn its earlier alert on the possible rise in sea level in Sabah's east coast following the earthquake in Chile.

The department said it had not detected any rise in the sea level in the state.

"It is now ascertained that the Sabah waters are free from the threat," the department said in a statement.

Earlier on Sunday the department issued an alert, advising coastal residents in the state's east coast to stay away from the beaches between noon and 6pm today as there were likely to occur rough sea conditions and a rise in the sea level.

The earthquake which struck Chile yesterday caused tsunami waves across the Pacific Oceans such as Mexico, Tahiti, Hawaii, Tonga, Samoa Islands and New Zealand.

Water Levels At Dams Not Worrisome

2010-02-23T16:17:00.000-08:00

The water levels at all dams and catchment areas nationwide, except for the Sembrong Timur water treatment plant in Kluang, Johor, are reported to be in good condition, Green Technology, Energy and Water Minister Datuk Seri Peter Chin Fah Kui said Tuesday.

He said the treatment plant in Kluang was in critical condition after the water level of Sungai Sembrong, which supplied the water, dropped.

The ministry was monitoring the situation at all the dams and catchment areas closely following the current dry spell which gave rise to concerns about dropping water levels, he said.

If the levels reached a dangerous stage water conservation would be carried out, he told reporters after Tenaga Nasional Bhd's Chinese New Year celebration here.

5. Gain more deductions.

2010-02-22T16:28:00.004-08:00

Purchase of sports equipment

If the slimming fad has caught on with you, keep the receipts of your purchases of any sports equipment. A claim of up to RM300 is a small incentive to shape those curves and muscles in a big way!

Have receipts or evidence to support more deductions

Medical expenses for your parents certified by a medical practitioner (restricted to RM5,000);

Medical expenses for serious diseases for self, spouse or child (up to RM5,000), including a complete medical examination for self, spouse or child limited to RM500;

Basic supporting equipment for disabled self, spouse, child or parents (ceiling of RM5,000);

Disabled person (self) (RM6,000);

Disabled husband/wife (RM3,500);

Education fee (self) up to tertiary level for the purpose of acquiring law, accounting, Islamic financing, technical, vocational, industrial, scientific or technological skills or qualifications for a masters or doctorate level, undertaken for the purpose of acquiring any skill or qualification (limited to RM5,000);

Purchase of books/journals/magazines/similar publications for self, spouse or child (up to RM1,000);

Net deposit in National Education Savings Scheme (ceiling of RM3,000);

Purchase of personal computer for individual (maximum deduction of RM3,000 allowed once every three years);

Premiums on life insurance plus EPF and other approved fund contributions (subject to RM6,000 restriction);

Premiums for education or medical insurance (restricted to RM3,000);

Relief of up to RM10,000 on the housing loan interest paid (conditions apply);

Payment of alimony to former wife (maximum total deduction for wife and alimony payment is RM3,000);

Zakat other than monthly zakat deduction from salary; and

Fees/levy paid by a holder of an employment pass, visit pass (temporary employment) or work pass.

The rule of the “game” of keeping your tax liability to the minimum when preparing your tax return Form e-BE is to do it right within the law. For a start, make the website of the Inland Revenue Board, www.hasil.gov.my, one of your favourites from now until April 30 to access its easy to read guides. Happy e-filing!

4. Look for more tax-free income.

2010-02-22T16:28:00.003-08:00

Bank interest income

You will note a subtle difference in your bank statement nowadays as it no longer shows the amount of tax withheld. Bank interest income is now tax-exempt.

Dividends

Dividends need not be entirely taxable. Have a good look at the dividend voucher. If it states that the dividend is “tax-exempt”, then it is not taxable anymore.

3. Know your limits.

2010-02-22T16:28:00.001-08:00

Just as in drinking and driving, stay within the limits to avoid any trouble or triggering tax.

If you have enjoyed any staff benefits like discounts on your company’s goods or services and kept within the RM1,000 a year limit, you should enjoy tax exemption thereon.

Did you receive a small token from your employer on your achievements in service excellence, innovation or productivity which brought on a smile? Don’t blame your employer if they kept the awards below RM2,000 as no tax should be levied on you. Neither is the award for your long service with the company (for more than 10 years) forgotten. As long as your employer kept the value of all awards to you within the RM2,000 limit, the smile should remain on you.

2. Make the most of all tax-free benefits.

2010-02-22T16:27:00.002-08:00

Medical benefits

Medical benefits for traditional medicine including ayurvedic, plus maternity benefits are also tax-free.

Interest subsidies

Your employer may have subsidised interest on your housing, car and education loans. In the past, these subsidies would be taxable on you. Now you would be glad to know such interest subsidies are tax-exempt (so long as the total loans do not exceed RM300,000).

Broadband and telephone benefits

Who can leave home without the iPhone, Blackberry or PDAs nowadays? Getting such a device from your employer plus reimbursement for broadband and telephone bills are tax-free. So take advantage and enjoy the latest gadgets and services.

1. Know your income: What is taxable and what is not.

2010-02-22T16:27:00.001-08:00

Gone are the days when you agonise over the delay in receiving your Form EA from your employer. It is now a law for employers to issue the Form EA to their employees no later than the end of February. The key point to note is not all income in your Form EA is taxable! Scrutinise all the items in Form EA to see if there is any which should be tax-free. For example:

Travelling allowances

If you receive travelling allowance, up to RM2,400 for your travels from home to office is tax-free. What this means is if you receive an allowance of RM12,000 for such travel, you can deduct RM2,400 and only RM9,600 is taxable. Further, travelling allowance of up to RM6,000 for official duties is tax-exempt.

Meal, parking and childcare allowances

Many employees receive these allowances, do you? You would be happy to know that you can enjoy such perks with no worries about paying tax thereon (up to RM2,400 in the case of childcare allowance).

How to pay less personal tax?

2010-02-22T16:24:00.000-08:00

THE 2009 tax-filing season for individuals has arrived. For many of us, April 30 will be just another day (perhaps accompanied by scrambling for our just-in-time filing) to settle our dues with the Inland Revenue Board by submitting the Form e-BE and paying any balance tax.

Before clicking the button to complete the e-filing, take a second look at the figures keyed in. Is the amount of tax calculated the lowest it can be? Here are some tips on saving tax that would not get you in trouble with the law.

Lembaga Tabung Angkatan Tentera Pays 14% Dividends

2010-02-11T17:04:00.002-08:00

Lembaga Tabung Angkatan Tentera (LTAT) will pay a dividend and bonuses of 14 per cent to eligible members for the financial year ended Dec 31, 2009.

In a statement, LTAT or the Malaysian Armed Forces Fund said the payout would consist of seven per cent in dividends, one per cent in bonus and six per cent in special bonus in the form of unit trusts, amounting to a total of RM575.2 million.

For the year under review, LTAT registered an audited total income of RM554.8 million compared with 2008's income of RM596.5 million.

At group level, LTAT chalked up a pre-tax profit of RM1.2 billion in 2009 compared with RM1.4 billion last year.

"The fund continued to deliver positive values to members and the result was a reflection of the fund's prudent management philosophy and its strategic investments in core assets.

"With the improving economic landscape, we expect LTAT to improve its performance in the foreseeable future," said Defence Minister Datuk Seri Dr Ahmad Zahid Hamidi in the statement.

LTAT's total assets, year-on-year, increased 4.2 per cent to RM7.5 billion as at Dec 31 2009 while members' contribution account rose 8.62 per cent to RM6.3 billion.

Resort World Sentosa's Casino Opens Feb 14

2010-02-11T17:04:00.001-08:00

KUALA LUMPUR, Feb 11 (Bernama) -- Singapore's first integrated resort, Resort World Sentosa (RWS) will begin the first day of the Tiger year with soft-opening of its casino and a preview opportunity to stroll through the amazing environment at Universal Studios Singapore.

The casino will have its first play at an auspicious hour with a private ceremony and welcome its first public guest at 12.18 pm, the company said in a statement here on Thursday.

The casino opening is part of the initial phase opening of Singapore' first integrated resort that began on Jan 20, 2010 with the opening of its four hotels namely Crockfords Tower, Hotel Michael, Festive Hotel, and Hard Rock Hotel Singapore. Its shopping and dining promenade, FestiveWalk, soft-opened on January 30.

"We are ready to soft-open the casino but are still fine-tuning the rides and shows in the theme park, which are still on schedule to open in the first quarter this year," RWS chief executive officer Tan Hee Teck said.

RWS, one of the world's most extensive and expensive integrated resort at S$6.59 billion, was built in a record time of under three years.

Touch 'N Go Reload Lanes Closed Temporarily For CNY

2010-02-09T17:26:00.002-08:00

Touch 'n Go reload lanes will be closed on Feb 12, 13, 16, 20 and 21 to facilitate toll plaza operations in conjunction with the Chinese New Year holidays.

PLUS Expressways Berhad chief operating officer Nik Airina Nik Jaffar said the closure would not involve the Tanjung Kupang, Bangunan Sultan Iskandar and Bukit Kayu Hitam toll plazas.

This festive season, PLUS and Touch 'n Go Sdn Bhd will provide reload facilities at several main rest and service (R&R) areas along the North-South Expressway during the aforementioned dates.

"Reload Touch 'n Go counters will be opened at 10 rest areas along the North-South Expressway during the five days, and we will also extend the operating hours at 35 customer service centres from 7.30am to 9pm, from Feb 12 to 21," she said in a statement Tuesday.

Touch 'n Go Sdn Bhd managing director Hasni Zarina Mohamed Khan said reload counters would open from 9am to 9pm for PLUSMiles and Touch 'n Go cards, while motorists could purchase SmartTAG units from selected rest areas.

Reload transactions can also be carried out at selected ATM or cash deposit machines, petrol stations and reload agents.

For more information, visit their official website at www.touchngo.com.my.

Smart Highway Offers 10 Per Cent Toll Discount On Sunday

2010-02-09T17:26:00.001-08:00

The Stormwater Management and Road Tunnel (Smart) has announced a 10 per cent discount of toll charges on the first day of the Chinese New Year on Sunday.

Smart general manager (operations) Mohd Fuad Kamal Ariffin the toll discount would start at midnight on Saturday until 11.59pm on Sunday.

Speaking to reporters after launching two Touch n' Go top-up lanes at the Smart Highway, he said the discount was in support the government's call to expressway concession holders to provide incentives to motorists during the CNY festival.

He said the Touch n' Go top-up lanes would be operational from 9.30am to 4.30pm both ways.

EPF Dividend For 2009 Expected To Be Higher

2010-02-07T17:12:00.001-08:00

The Employees Provident Fund (EPF) dividend for 2009 is expected to be higher compared to the 4.5 per cent paid out in the previous year.

EPF chairman Tan Sri Samsudin Osman said this was due to the local share market's stable position and good investment returns.

"A meeting on dividend rates will be held this month, while an announcement on it will be made in March," he told reporters, here Sunday.

Samsudin, who is also Putrajaya Corporation president, had earlier presented prizes to winners of a fishing competition held in conjunction with Federal Territory Day celebrations.

In December, EPF announced that it obtained RM5.5 billion in profits in the third quarter last year, which was an increase of RM696.32 million (14.51 per cent) compared to RM4.8 billion in the previous quarter.

EPF chief executive officer Tan Sri Azlan Zainol said EPF funds had now increased to RM361.09 billion compared with RM353.93 billion in the second quarter last year.

For the year 2008, 12 million EPF members received a dividend of 4.5 per cent, which was lower than the 5.8 per cent for 2007.

Grab Opportunity To Sell Products At Carrefour, SMIs Told

2010-02-04T17:42:00.000-08:00

Small and medium industries (SMIs) should grab the opportunity to sell their products at Carrefour Malaysia's 21st outlet at Rahang, Negeri Sembilan.

Menteri Besar, Datuk Seri Mohamad Hasan, said the SMIs should set up 'smart partnership' with Carrefour.

"Carrefour's decision to set up an outlet here shows that it has the confidence in the growth of the township.

"The new outlet will make it convenient for the people to buy their daily necessities at reasonable prices," he said at the opening of the outlet here Thursday.

Also present were Carrefour Malaysia-Singapore chief excutive officer, Guillaume de Colonges and chairman of Carrefour Malaysia, Datuk Seri Abdul Aziz Samsuddin.

de Colonges said the Rahang outlet occupied a total sales area of 4,077 sq metres.

"It stocks over 60,000 products and offers a one-stop, all-under-one-roof shopping convenience for both leisure and busy shoppers.

"We are confident this store will delight our customers as it is tailored to meet their requests," he told reporters after the opening of the outlet by Mohamad.

He said customers nowadays expected an attractive store, good things to buy and good value for their money.

"We are making every effort to meet their expectations," he said.

PTPTN Needs RM5 Billion A Year

2010-01-29T22:00:00.000-08:00

The National Higher Education Fund Corporation (PTPTN) requires RM5 billion a year to ensure those qualified to pursue higher education are not deprived of the opportunity, Higher Education Minister Datuk Seri Mohamed Khaled Nordin said.

He said the amount was required following an increase in the number of students pursuing higher education.

"At the moment, the allocation is RM3 billion but the ministry foresees that the amount will no longer be enough by 2013," he told reporters after opening the "Real Undergraduate Conference" here Saturday.

He said the amount was also needed as the loan repayment by students was made in instalments and not in lump sum.

"Now the ministry is studying how to make the PTPTN sustainable... to ensure loans are given only those who really need them," he said.

He added that well-to-do parents should take the responsibility to finance their children's education and not rely on the government alone.

"The government has provided the infrastructure and other facilities. Those who are rich should be able to finance their children's education," he said.

RM470 Milliom To Achieve Target Of 50% Internet Penetration

2010-01-28T16:38:00.001-08:00

The federal government has allocated RM470 million to Sarawak under the Universal Service Provision (USP) programme to narrow down the national digital gap in the next five years.

Information Communication and Culture Minister Datuk Seri Utama Dr Rais Yatim said with the allocation, he was confident the internet penetration rate for households at the national level could be raised to 50 per cent at the end of the year from only 31.4 per cent currently.

"The ministry, through the Malaysian Communications and Multimedia Commission (MCMC), is convinced that the internet penetration rate can be raised with the development of more facilities such as the Broadband Centre (PJL) in rural areas especially in Sabah and Sarawak," he told reporters after opening the PJL Lundu and Malaysian Internet Central Exchange, Sarawak MyIX, here Thursday.

He said that under the USP programme, the MACC would create two internet centres for the handicapped (OKU), provide an additional six Broadband Centres besides setting up another 37 broadband libraries in Sarawak.

The MCMC would build another 203 telecommunication towers in Sarawak in stages, beginning in the first quarter of this year at the latest, in efforts to widen cellular coverage throughout the country.

Meanwhile, Rais said the ministry was making a study on efforts to develop the culture of acquiring information technology facilities such as the computer among the people.

He said the ministry was gathering information to ensure that the people at the lower level could also afford to buy quality computers in line with current needs.

"We are now monitoring several suitable products that the people can afford to buy as cheaply as RM900 per unit of quality computer," he said.

On the MyIX, he said the development of the Malaysian internet central exchange would help to ease the problem of congestion in internet services currently.

Amway To Increase Prices Of Selected Health Food Supplements

2010-01-22T18:21:00.000-08:00

Amway (Malaysia) Holdings Bhd plans to increase the prices of selected health food supplement products by a weighted average of 4.4 per cent from March this year.

Executive director Paul Yee, in stating this, said the prices of other products would remain unchanged.

"Although the prices will increase, we will make sure that the products have good value and are still affordable for people," he told reporters after the launch of Amway's RM100 million new headquarters here on Friday.

He said the price increase was necessary mainly due to the rising cost of raw materials.

Among the company's popular brands of vitamin, mineral and dietary supplements is Nutrilite.

The multinational direct selling company's core line of products is divided into five categories under nutrions and wellness, skincare and cosmetics, personal care, house care, and home technology and home ware.

Skincare and cosmetics, which include health food supplement products, contributed more than 50 per cent to the company's revenue last year.

Yee said that Amway planned to introduce seven new products and make improvements in some of its existing products this year.

"We will continue to grow this year and hopefully it can be better than last year," he said, adding that the new headquarters would help the company to meet the needs of a growing distributor force and business.

The company has a core distributor force of 195,000 people.

With a total built-up area of 202,500 square feet, the new building features the Digital Picking System, an advanced technology that is able to cater for more than 6,000 orders a day, up from 2,000 orders at the previous office.

China's GDP Expands By 8.7 Pct In 2009

2010-01-21T16:51:00.000-08:00

China's grosss domestic product (GDP) grew by 8.7 per cent in 2009 from a year earlier to reach 33.54 trillion yuan, according to data released by the National Bureau of Statistics (NBS) here on Thursday.

NBS commisioner, Ma Jiantang, said in terms of growth by quarters, it was up 6.2 per cent for the first quarter, second quarter (7.9 per cent), third quarter(9.1 per cent) and fourth quarter (10.7per cent).

"In terms of growth by sectors, the primary industry rose by 4.2 per cent to 3.54 trillion yuan; secondary industry 15.69 trillion yuan ( 9.5 per cent); and, the tertiary industry 14.29 trillion yuan ( 8.9 per cent)," he told a media briefing here.

He said agricultural production continued to achieve steady growth which marked the six consecutive years of increase.

"In 2009, grain output rose to 530.82 million tonnes, an increase of 0.4 per cent over the previous year," he said.

Ma said industrial production rose quarter-by-quarter with heavy industry up 11.5 per cent and the light industry up 9.7 per cent.

He said investment continued to record fast growth.

"Total investment in fixed assets increased by 30.1 per cent year-on-year to 22.48 trillion yuan," he said.

He said the positive data did not meant that China was free from worries and challenges.

"My first worry is how to bring the price increase under control while promoting economic growth.

"Everybody is concerned about the price increases of real estate in some cities," he said.

Bank Negara Likely To Raise Interest Rates

2010-01-20T16:05:00.000-08:00

Bank Negara Malaysia is likely to raise interest rates by 50 basis points in the second half of this year and another 100 basis points in 2011, according to Deutsche Bank Group.

"It is simply because inflation is returning to normal. It is coming back at two per cent in Malaysia," said the group's managing director and head of global markets research, Asia Pacific, Dr Michael Spencer.

"Given the concerns that in some parts that Asia's asset bubbles are potentially building up, I think it is reasonable for central banks to raise rates," he said at a media briefing on Malaysia's economic outlook here Wednesday.

However, Spencer said that real interest rates are likely be lower at the end of 2010 than what they are currently.

"We also expect the US Federal Reserve to raise interest rates by 100 basis points in the third quarter," he said.

Spencer said that most Asian central banks are expected to start raising interest rates well before the US Federal Reserve and European Central Bank, which is also likely to start raising rates in third quarter.

"Our forecast of about 90 basis points of rate hike on average this year contrast with expectation of a 1.6 per cent increase in inflation between December 2009 and December 2010," he said.

According to Spencer, India, China and the Philippines will the first in the region to raise interest rates.

He said a spike in oil price inflation is likely to be over by mid-year and a return to more normal food price increases should bring the Asian inflation rate up to 3.6 per cent this year from 1.2 per cent in 2009.

Spencer said with the average inflation rate since 2004 at 3.7 per cent, the return of inflation should not be a major concern.

He expects the ringgit to strengthen against the US dollar on support from the inflow of capital into the country, saying that it is set to rise to 3.2 against the greenback in the next 12 months.

At midday Wednesday, the ringgit was traded at 3.351 against the US dollar.

On economic growth, Spencer said Malaysia is expected to register a 5.5 per cent growth this year, driven by domestic consumption.

"The biggest swing will be the contribution of domestic consumption," he said.

Private consumption is likely to be at 3.3 per cent this year and 4.0 per cent in 2011, Spencer said, adding that it was at 1.0 per cent last year.

混血美女 2

2010-01-19T16:34:00.000-08:00

混血美女 1

2010-01-19T16:31:00.000-08:00

Genting Singapore casino ready to open

2010-01-18T17:07:00.001-08:00

Genting Singapore Plc is ready to start operating Singapore’s first legal casino as soon as the city state’s government issues its gaming licence, the company said today.

Genting Singapore’s stock added as much as 4 per cent this morning on speculation gambling may begin at the company’s Resorts World Sentosa complex as soon as February’s Chinese New Year holiday.

“We are ready,” Robin Goh, a spokesman for Resorts World, said. “We can open the casino as soon as we have the licence.”

Four hotels and 10 restaurants within the US$4.5 billion Sentosa island complex will begin accepting guests from January 20. A Universal Studios theme park in the complex is also waiting for a licence to operate, and will open as soon as that is issued, Goh said.

A second casino resort, the Marina Bay Sands, being built by Las Vegas Sands Corp, will open later after encountering construction delays. Singapore announced in April 2005 it was overturning a ban on casinos that had been in place since independence. Resorts World and Marina Bay are the only two casino developments approved so far.

“We believe they, Resorts World, will get their gaming licence before Chinese New Year,” Aaron Fischer, a gaming analyst at CLSA Asia Pacific Markets in Hong Kong, said in a telephone interview. “We expect gaming revenues to be bigger. There is a huge gaming market in Southeast Asia.”

In a report published last month, CLSA Asia Pacific Markets said it estimates Resorts World’s gaming revenue to rise from US$2.5 billion this year to US$3.8 billion by 2013. The Singapore casino market will generate US$3 billion in revenue this year, growing to US$6 billion in 2013, CLSA said in the report.

Genting Singapore gained 3.2 per cent to S$1.29 as of 2:30 pm in Singapore. The stock climbed 200 per cent in the past year, compared with a 67 per cent gain for the benchmark Straits Times Index. -- Bloomberg

Government To Review Minimum Wage For Private Sector

2010-01-14T16:41:00.000-08:00

The government will review the minimum wage implementation mechanism for the private sector to minimise the dependence on foreign workers, Human Resources Minister Datuk Dr S. Subramaniam said.

The move was in line with the government's objective to achieve a high-income economic model which would enable workers to earn a reasonable amount of salary and help them overcome poverty.

"The salary in a lot of sectors, including the manufacturing sector, is still very low.

"We don't know whether this is the one driving the locals away from these sectors," he told reporters after delivering his New Year 2010 message to the ministry's staff here.

He added that the ministry would discuss the matter further with the related agencies.

Meanwhile, Subramaniam said the study on the salary scheme for hotel workers and security guards had been completed and would be announced soon.

A study had also been carried out on the salary scheme in the electronics and textile sectors and would take six to eight months before a decision could be made.

Meanwhile, asked on the nearly 40,000 Indian citizens who went "missing" in Malaysia after their tourist visas expired, Subramaniam said stern action should be taken against those who employed them.

"If we do this, and show them that the government is serious about this, then the message might reach to them and people will feel more apprehensive about hiring illegal immigrants.

"Once these illegal immigrants are not able to find jobs in this country, they will leave," he said.

He said it was not easy for the government to go around identifying each and every person who overstayed.

EPF Contributors Told Not To Be Deceived By Withdrawal Syndicates

2010-01-14T13:49:00.000-08:00

The Employees Provident Fund (EPF) on Wednesday warned its members and other individuals from getting involved in fraudulent activities involving EPF funds.

Contributors should instead deal directly with EPF staff without being charged anything for the service.

EPF's general manager for public relations Nik Affendi Jaafar said the fund was wholly committed to eradicating fraudulent withdrawals which deplete retirement savings and go against the vey core of EPF's objectives.

He issued a stern warning to members and other individuals not to be involved in any irregular activities related to withdrawals and added that the EPF had systems and processes to detect any cases of cheating and attempts to make fraudulent withdrawals.

"The processes not only detect very early on attempts to cheat but also provide guidelines to EPF officers to identify unscrupulous fraudulent attempts by just checking application forms and supporting documents forwarded," he said.

He said under the EPF Act 1991, contributors who committed fraudulent withdrawal, or attempted fraudulent withdrawal, are liable to a maximum jail sentence of three years or a RM100,000 fine or both.

Nik Affendi said 96 court summons had been filed against EPF members from January to December 2009 for their involvement in making fraudulent EPF withdrawals under housing, incapacitation, education and pensionable employees.

"During the same period, 35 EPF members were found guilty by the courts for fraudulent withdrawals while 61 cases were still pending in the courts," he said.

He called upon EPF contributors to report any instances of fraud by contacting the EPF Fraud Hotline at 03-2616 2121 03-2616 2121 during working hours from Monday to Friday.

Malaysia's 4th Quarter GDP Growth Positive

2010-01-13T15:02:00.000-08:00

PUTRAJAYA, Jan 12 (Bernama) -- Early indications show that Malaysia will announce positive gross domestic product (GDP) growth for the fourth quarter of 2009, Minister in the Prime Minister's Department Tan Sri Nor Mohamed Yakcop said.

"How positive, I am not sure yet. Certainly it will be positive," he told reporters after the signing of a memorandum of understanding between the government and Oxford Business Group on "The Report: Malaysia 2010" here on Tuesday.

He also said the Economic Planning Unit that he is in charge of, was confident that the country would achieve more than five percent GDP growth for this year.

The government has projected a contraction of 3.0 per cent in GDP for 2009 after the first, second and third quarters showed negative growth of 6.2 per cent, 3.9 per cent and 1.2 per cent respectively.

Nor Mohamed said some of the positive indications included the clear trend of resumption of recruitment in the manufacturing sector and better corporate earnings.

"There is also very strong evidence that there is higher demand for electronic chips recently from the rapid expansion of the automotive industry in China and India.

"Advances in demand for a new generation of telecommunication devices were also seen," he said.

Besides that, Nor Mohamed said, the rising demand and short-term supply constraints had put an upward pressure on oil, rubber and palm oil.

"We are the winner on that sense as we are the largest producer," he said.

Passenger car sales had also picked up, rising to 40,569 in November last year from 36,254 in the same month a year before.

Loan application on a yearly basis had improved by 37.5 per cent in October last year while loan approval increased by 25 per cent.

Accordingly, Nor Mohamed said, the economic recovery was also expected to be faster this year.

"The multiplier from the RM67 stimulus packages will start cascading down this year," he said.

"Many evidences show 2010 is going to be a good year. Early days yet but the indication is quiet positive."

Whether the current strong stock market performance could be sustained, Nor Mohamed said: "Based on corporate earnings reports, the stock market seems to be in a sustainable phase and confident mood.

"The stock market reflects the underlying confidence that the investing public has on the government's proactive economic measures.

"As the domestic economic front is going to be positive, the stock market should do well," he added.

The market capitalisation of listed companies on Bursa Malaysia breached the RM1 trillion mark on Jan 5. Its all-time high was RM1.1 trillion, recorded in the early part of 2007 before the start of the global financial crisis.

Asked whether the reported attack on churches would affect investor sentiment, Nor Mohamed said: "Most investors who know us will realise that we are a united and tolerant country.

"I don’t think this should have too much negative long-term effect."

DELL computer fair 3

2010-01-06T16:40:00.000-08:00

DELL computer fair 2

2010-01-06T16:39:00.001-08:00

DELL computer fair 1

2010-01-06T16:37:00.000-08:00

Malaysian Businesses Most Optimistic This Year, Says Survey

2010-01-04T16:07:00.000-08:00

Business owners in Malaysia are the most optimistic this year compared to the years before, according to Grant Thornton International Business Report (IBR) survey.

In a statement, SJ Grant Thornton said businesses in Malaysia and the Asia-Pacific were positive that an upturn in the global economy has taken place and expected more positive signs in the second half of 2010.

Its managing partner, Datuk N.K. Jasani, said in Malaysia, business owners were positive on expecting increased revenue, followed by investment in plant and machinery and profitability.

"This suggests that during the recession, businesses have become leaner and more cost-effective. This may enable them to lower prices while still securing increased revenues and crucially, profits.

"As the global economy emerges from recession, we are likely to see many businesses reaping the rewards of recession induced efficiencies to lead the way in the upturn," he said.

The IBR survey covers over 7,400 medium to large enterprises (MLEs) across 36 economies.

Now in its 18th year, it also highlights a group of ten economies where businesses are more optimistic about the outlook for their economies than International Monetary Fund forecasts might suggest.

The survey showed that optimism among MLEs around the world has bounced back to give the Grant Thornton global optimism/pessimism index for 2010 an optimism balance of 24 per cent compared to its lowest ever score of -16 per cent this time last year.

Malaysia scored 49 per cent.

It said businesses in Chile, India, Australia, Vietnam and Brazil were the most optimistic in the world, all scoring over 70 per cent.

"Close behind are South Africa, China, Singapore, Canada and Hong Kong at 60 per cent or higher.

"At the other end of the scale, many euro zone countries were pessimistic about the future," it said.

Italy, Denmark, Finland and France scored nine per cent or lower with Greece (-23 per cent) and Ireland (-42 per cent), it said.

"Spain (-56 per cent) and Japan (-72 per cent) kept their places as the most pessimistic economies in the world, although even here the figures were slightly up on last year," it said.

Jasani said the survey suggested that businesses in the giant emerging markets of China, India and Brazil were confident they could help pull the rest of the world back into growth and businesses in many other economies were equally optimistic that they not only survived this recession but well-placed to help drive the upturn.

"Strong stimulus measures implemented by our government have helped the economy but consumer spending eased and investment and trade slumped.

"Activity is now picking up as exports in the country revive, underpinning strengthening manufacturing. Growth prospects for 2010 look promising.

"MLEs contribute 81 per cent of global gross domestic product and the global business community should be encouraged by the results of this survey," he said.

Saham Amanah Sabah Announces 5 Per Cent Income Distribution

2009-12-28T17:06:00.000-08:00

Sabah Chief Minister Datuk Seri Musa Aman announced Monday an income distribution of five per cent or five sen per unit for Saham Amanah Sabah (SAS) for 2009.

The total payout amounted to RM63.8 million based on the total of 1.276 billion units held by unitholders as at Dec 15, 2009, he told reporters after meeting the SAS board of directors at his office here.

Describing it as a positive achievement compared to last year when there was no income distribution, Musa said the main reason which enabled the payout was the good performance of Bursa Malaysia.

"The FTSE Bursa Malaysia Kuala Lumpur Composite Index hit a high of 1,279.95 points on Nov 17, 2009, which was up by 46 per cent compared to 879.75 points on Dec 31, 2008," he said.

Musa said the income distribution would be paid to 54,122 investors comprising 45,840 (84.7 per cent) individuals, 7,407 (13.7 per cent) holders under the Hardcore Poor Scheme, 827 (1.53 per cent) through bank loans and 48 (0.09 per cent) from the corporate sector.

He said this was the 10th time that income distribution was paid since SAS started 15 years ago, with the last payment of four per cent made in 2007.

Earlier, Musa said up to Dec 15, 2009, SAS had recorded a gross income of RM77.26 million, with the gains coming from the share market (85.29 per cent), income from dividends (10.6 per cent) and financial market (4.11 per cent).

Merry Christmas 聖誕禮物 2

2009-12-23T01:57:00.000-08:00

Merry Christmas 聖誕禮物 1

2009-12-23T01:24:00.000-08:00

PNB May Extend Deadline For Subscribing AS1M Units

2009-12-23T01:20:00.000-08:00

Permodalan Nasional Bhd (PNB) may extend the period for subscribing the Amanah Saham 1Malaysia (AS1M) share trust units which has a December 31 deadline.

PNB Group Chief Executive and President, Tan Sri Hamad Kama Piah Che Othman, said the extension might be given as the allocated quota of units given according to the communities have not been taken up.

So far, 82 per cent of the quota given to the Chinese community has been subscribed, while another 20 per cent quota for Indian investors have been bought, and the units for Bumiputera meanwhile are largely still left.

Hamad Kama Piah said this when asked to comment on the latest development in the subscription of AS1M units, here Wednesday.

AS1M, a fixed price fund with a size of RM10 billion units, was launched on July 31 this year by Prime Minister Datuk Seri Najib Tun Razak.

It was opened to all Malaysians with an allocation of 50 per cent for Bumiputera, 30 per cent for the Chinese community, 15 per cent for the Indian community and five per cent for others.

Todate, a total of 2.96 billion units of the AS1M have been subscribed by 235,032 investors.

On the proposed multi-development project around the Stadium Negara and Stadium Merdeka, Hamad Kama Piah said the group was in the final stages of making a decision on the project.

PNB Announces 5.2 Sen Per Unit Income Distribution For ASN

2009-12-23T01:19:00.000-08:00

Amanah Saham Nasional Bhd (ASNB), a wholly-owned subsidiary of Permodalan Nasional Bhd (PNB), today announced a 5.2 sen per unit income distribution for Amanah Saham Nasional (ASN) for the financial year ending Dec 31, 2009.

The income distribution will involve RM81.52 million in total payout as against RM79.9 million in financial year 2008.

PNB chairman Tun Ahmad Sarji Abdul Hamid said the payout was expected to benefit 1.19 million unitholders who had invested in over 1.57 billion ASN shares.

Ahmad Sarji said based on the net asset value (NAV) of RM0.7586 per unit as on Dec 22, 2009, the yield derived from the 5.2 per unit income distribution was 7.36 per cent while the returns was 25.75 per cent.

"Therefore, based on the increase in NAV of the ASN from RM0.5619 per unit on Dec 31, 2008, to RM0.7586 per unit on Dec 22, 2009, the total returns recorded by ASN was 35.01 per cent," he said at a media briefing here.

Ahmad Sarji said as at Dec 22, 2009, ASN had recorded a gross income of RM87.91 million.

Of the amount, the sale of shares contributed RM55.46 million or 63.09 per cent, followed by dividend income from invested companies at RM23.75 million or 27.02 per cent.

In addition, income from short-term investments contributed RM8.70 million or 9.89 per cent, he said.

Ahmad Sarji said all transactions for ASN would be suspended from today until Jan 3, 2010, for the calculation of income distribution.

He said unitholders could update their accounts at the offices of ASNB or its agents nationwide from Jan 4, 2010.

ASN is a growth fund launched on April 20, 1981. Its aim is to generate a reasonable level of income distribution and capital appreciation through a diversified portfolio of investments.

Credit card tax for existing users to start on anniversary date

2009-12-21T16:39:00.000-08:00

KUALA LUMPUR: Applicants issued with new credit and charge cards next year will have to pay the RM50 service tax upfront.

For existing card holders, the charge will be imposed on the anniversary date of cards.

Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah, who confirmed this with The Star yesterday, said the Government would impose the service tax for credit and charge cards from next year.

“Existing cardholders will only be charged the service tax through their issuing banks upon the aniversary date of the card.

“For example, if the card’s anniversary date is in January, then you pay the tax in January. But if the date is in April, then you only pay the tax in April,” he added.

The minister’s clarification puts to rest nagging doubts among the millions of credit card holders in the country who have been raising queries since Prime Minister Datuk Seri Najib Tun Razak announced the new tax when he unveiled Budget 2010 in October.

Najib, who is also the Finance Minister, had said that a RM50 service tax for principal credit and charge cards and a RM25 for supplementary cards would be imposed from January.

This has led to card holders asking if the charges will be imposed from Jan 1 or on the anniversary dates of the cards, which are usually issued for a three-year period.

Those holding a string of cards were most eager to know before deciding to cancel some of their accounts.

A check with the customer service departments of several commercial banks showed that they had yet to receive any definite confirmation.

Some banks said they were still awaiting for a directive from Bank Negara, while others think the tax would be imposed on the anniversary dates.

A third group of banks has also offered to absorb the tax for the cardholders, on condition a certain amount of money was spent within a certain timeframe.

Cardholder Y.L. Sim, who called up the bank to cancel his credit card, said the bank advised him “not to be hasty.”

“The officer said that they had yet to receive a formal directive from Bank Negara (on when to impose the tax). But I was worried as the New Year was nearing,” he said.

Deputy Finance Minister Datuk Chor Chee Heung, when contacted, advised cardholders to plan accordingly, saying holding two credit cards was enough.

““Even I intend to hold only two credit cards,” he added.

He urged those who had large outstanding credit card debts to stop using the cards and meet the issuing banks to work out a repayment mechanism.

There are some 11 million credit cards circulating in the country.

Malaysia On Track To Achieve RM20 Billion Targeted FDI

2009-12-20T15:48:00.001-08:00

Malaysia is still on track to achieve a targeted RM20 billion in foreign direct investment (FDI) this year despite the global economic downturn, said Deputy International Trade and Industry (MITI) Minister, Datuk Mukhriz Mahathir.

He said the country had shown a positive economic climate with a total FDI of RM12.6 billion having been collected until the third quarter of this year.

"The FDI figure is encouraging as we must take into consideration that Malaysia is no longer the main country for foreign investors, given the emergence of new competing countries, such as Vietnam," he said.

Mukhriz was speaking to reporters after launching a forum on "Generating Technopreneurs In The Era of New Economic Model and Liberalisation", involving 200 Universiti Teknologi Malaysia (UTM) students at the university's campus here on Saturday.

He said that the country was still attracting FDI, especially in the electrical and electronic, as well as chemical industries.

He also said the government was focusing on attracting quality FDI from industries that were capital intensive and of high technology with high value-added.

According to Mukhriz, apart from the potential foreign investors, incentives are also being offered to existing foreign companies in Malaysia to prevent them from taking their businesses elsewhere.

On another matter, he said the country had to achieve an annual six per cent economic growth to realise its vision of becoming a developed nation in 2020.

"Hence, the dire need for quality FDI," he added.

On the recent meeting between Prime Minister Datuk Seri Najib Tun Razak and local industry players, Mukhriz said that local companies must also be given priority, in order to prosper.

"The local players felt that they also need to be given the same incentives as foreigners, such as tax cuts," he disclosed.

Toll Discount During Christmas Holiday

2009-12-20T15:45:00.000-08:00

Plus Expressways Berhad (PLUS) is giving an additional of almost 20 per cent discount on toll rates for Class 1 vehicles exiting from the North-South Expressway and the ELITE Expressway between midnight and 7am from Dec 22 until 30 in conjunction with the Christmas celebration.

PLUS managing director Norizah Abd Hamid said the additional discount would be on top of the existing 10 per cent discount for Class 1 vehicles using both the highways outside peak hours.

The discounts were part of the incentives aimed at distributing traffic flow outside peak hours to give highway users a more comfortable and smoother trip, she said in a statement here on Sunday.

For Class 1 vehicles from the Sungai Besi toll plaza (Kuala Lumpur) to Skudai (Johor), the motorist will only pay RM33.60 if they exit from the highway between midnight and 7am on the days concerned, compared with RM41.30 on normal days.

PNB Unit Trust Investors Can't Name Beneficiaries

2009-12-16T17:08:00.000-08:00

Investors in unit trusts managed by Permodalan Nasional Berhad (PNB) cannot name their beneficiaries as regulations stipulated by Malaysia's Securities Commission does not allow the naming of beneficiaries.

"We are now finding ways of meeting the investors' wishes without going against the regulations set by Malaysia's Securities Commission," said chief executive officer of the PNB Group, Tan Sri Hamad Kama Piah Che Othman.

He said this when asked by reporters after launching the Amanah Saham 1Malaysia (AS1M) Promotion at the state level, here on Wednesday.

During the question-and-answer session with the public during the launch, Hamad was asked whether investors in unit trusts managed by PNB could name their beneficiaries as what was done by the Employees Provident Fund (EPF) and Tabung Haji.

He said when the deceased left shares worth RM600,000 or less, the beneficiaries could apply for the division of his estate under the Small Estates (Distribution) Act 1955 at the Land Administrator's Office.

If the amount was higher, the beneficiaries could apply for the distribution of the estate at the Estate Administrator's Office, the High Court or the Public Trustee.

ASNB Declares Dividend Of 8.55Sen Per Unit For ASB

2009-12-15T14:27:00.000-08:00

Amanah Saham Nasional Bhd (ASNB), a wholly-owned subsidiary of Permodalan Nasional Bhd (PNB), has announced an income distribution of 7.30 sen per unit and a bonus of 1.25 sen per unit for Skim Amanah Saham Bumiputera (ASB), for the financial year ending Dec 31, 2009.

Last year, the government-owned fund manager declared an income distribution of 7.0 sen per unit and a bonus of 1.75 sen per unit.

Announcing the dividend and bonus for ASB on Monday, PNB chairman Tun Ahmad Sarji Abdul Hamid said the income distribution would involve a total payout of RM4.95 billion by ASNB, an increase of 19.56 per cent from the RM4.14 billion paid out in 2008.

The bonus portion, meanwhile, would involve a total payout of RM537.65 million by PNB.

The payment will benefit 6.78 million unit holders who currently hold more than 70 billion ASB units.

"Although the total numbers (dividend and bonus) looks lower this year at 8.55 sen per unit from 8.75 sen per unit last year, but in terms of total amount that we are paying out, it is higher at RM5.48 billion from RM4.79 billion last year," said PNB group chief executive and president Tan Sri Hamad Kama Piah Che Othman.

Hamad Kama Piah said PNB was in a strong position and would make sure of continued dividend payouts.

"Based on our fund reserve, our capacity is more than 11 sen per unit but we are just paying 7.30 sen per unit and bringing forward the balance of 3.70 sen for 2010.

"This is a long term fund and we want to make sure that we are able to use the money to buy more shares and do more investment because at the end of the day, we still have to pay again," he added.

ASB recorded a gross income of RM5.46 billion up to Dec 10, an increase of 3.4 per cent from RM5.28 billion in the corresponding period last year.

Dividend income from investee companies contributed RM1.48 billion, or 27 per cent of the gross income.

Profit from the sale of shares contributed RM3.67 billion, or 67 per cent, while the remaining RM309 million or 6.0 per cent came from investments in short-term instruments and other investments.

The income distribution and bonus will be automatically credited into the unit holders' accounts.

All transactions for ASB will be suspended from Dec 21 until January 3 to enable the calculation of income distribution and bonus. Unit holders will be able to update their accounts from January 4.

ASB is a fixed price equity income fund, opened for Bumiputera aged 12 years and above. It is aimed at generating long term, consistent and competitive returns to the unit holders.

Wake up call‏

2009-12-07T16:04:00.000-08:00

Perhaps, like me, you will discover that friends and relatives around you are getting fewer and fewer. We used to have tight schedules for all sorts of new year gatherings in the past, but things seem to quiet down a lot this year.

Even on a normal day phone calls are getting rarer, and not too many people for us to meet nowadays. Perhaps everyone is engrossed with his own stuff, or perhaps people are beginning to adopt “homeward” lifestyle and avoid unnecessary trips.

Not so!

Many of my old friends and relatives are no longer around. Don’t get me wrong, they are still very much alive and kicking, only they have chosen to leave this land.

John has set up a factory in mainland China; Peter has quit his rewarding engineering job to run a small food stall in Australia; Robert quits local university to lecture in Hong Kong; Dave is in Taiwan to explore his career while some others have gone to the States, UK, and... oh yes, Indonesia.

I used to think this is just an isolated case. I slowly discover that such thing happens to other people around me as well. This is not an isolated case, but a widespread social phenomenon.
It involves not just a handful of people, but quite a multitude of them.

Some recent statistics disclosed by the foreign ministry have testified the fact that this phenomenon has been very real and close. From last March to this September, around 300,000 Malaysians looked for greener pastures beyond our shores, two thirds of them did so in the first eight months of this year alone.

The cumulative number of emigrating Malaysians has now exceeded two million, close to the number of Indonesian workers in this country.

The different thing is: those who have left the country are mostly middle-class professionals.
They are have a host of reasons to stay away from this country: to pursue further career advancements, to seek brighter future for their kids, to enjoy more freedom... In short, they have all grown disappointed with Malaysia.

50 years ago, everyone said Malaysia was the best, even better than Hong Kong and Japan.
30 years ago, they said Malaysia was not that bad, at least we were as good as Korea and Taiwan (Hong Kong and Japan were no longer mentioned by them).
20 years ago, they said Malaysia was still quite okay, at least we were better than China and Thailand (Taiwan and Korea were no longer in the same league).
10 years ago, they said Malaysia could never be like Vietnam or Indonesia, no matter how terrible it was (China was not in the same category any more).
Today, Vietnam and Indonesia have far outpaced Malaysia in economic development, the gap is fast closing in.

What to worry? We still have Philippines, Cambodia and Myanmar!

An economist who recently visited the Philippines said Malaysia could overtake her neighbour as the prime exporter of domestic maids in 20 years’ time.

Over the past half a century, Malaysia has been locking itself inside a huge courtyard house, distributing its wealth in antiquated ways and exhausting its rich social resources, forcing its best talents to look elsewhere. The country shuns competitiveness, ignores productivity and abhors meritocracy.

When the regional financial crisis struck, we locked ourselves in and escaped the massive destruction. Some people have taken delight in that, thinking we were geniuses.

But when other countries walked out of the crisis, they implemented substantial reforms and made bold advances ahead while our country stays largely stagnant.

It’s time to wake up, Malaysia.

FROM: mysinchew.com

EPF Records RM1.97 Billion Retirement Withdrawals In Third Quarter Of 2009

2009-11-25T19:43:00.000-08:00

KUALA LUMPUR, Nov 25 (Bernama) -- Some RM1.97 billion has been withdrawn under the Employees Provident Fund (EPF) Retirement Withdrawals in the third quarter of 2009 (Q3 2009), an increase from the RM1.64 billion withdrawn in the corresponding period last year.

Of the RM1.97 billion, RM1.41 billion was withdrawn as Lump Sum Age 55 Withdrawal, up 14.2 percent from that in Q3 2008, EPF said in a statement on its unaudited results today.

EPF Chief Executive Officer Tan Sri Azlan Zainol said the remaining RM557.05 million was withdrawn under the Flexible Age 55 Withdrawal, up 38.05 percent from the RM403.51 million last year.

"Increasing member interest in Flexible Age 55 Withdrawals underscores their confidence in the EPF in earning dividends for their savings. The flexibility of the withdrawal provides members the benefit of managing their nest egg more effectively.

"Nonetheless, 72 percent of retirement withdrawals still consist of lump sum withdrawals. We hope to see this amount decrease over time as more members become increasingly aware that lump sum withdrawal will likely lead to income inadequacy during retirement."

Azlan said members had exercised greater prudence and care in making withdrawals for housing as showed by a more cautious behaviour due to the present economic conditions.

"With many buyers adopting a 'wait and see' attitude, approved applications for housing withdrawals in Q3 2009 dropped 20.18 percent to 86,664 compared to the 108,573 applications last year," he added.

RM50 credit card service tax should not be a ‘plastic hungry’ move

2009-11-24T23:23:00.001-08:00

THE debate over the RM50 credit card service tax rages on even as the banking sector is urging the Government to reconsider the industry’s proposal to exclude corporate cards and impose the tax on per customer instead of per card basis.

Corporate cards are used for ease of transactions and cashflow management; executives have less forms to fill and in this context, it is a step towards improving productivity.

“If the objective of imposing the service tax is to prevent individuals from misusing credit, why are cards used by corporates also taxed? That will not only increase the cost of doing business but also send a potentially wrong message that companies can get penalised for being efficient,’’ Citibank Malaysia CEO Sanjeev Nanavati said in response to queries from StarBiz.

“This is not a small, localised issue,’’ he added. “People are going to view this as one of the implications of doing business in Malaysia.’’

Imposing service tax on per card basis is also a wrong move as spending power should not be gauged by the number of plastics held but on the total amount of credit available.

“A lot of people spend prudently and have multiple cards for the value they see in them,’’ said Sanjeev. “Taxing them on each card they hold has the effect of taking away some of the value they are receiving from these cards. Furthermore, banks impose a credit limit across multiple cards. So having more cards with the same bank does not mean you can spend more.’’

There is no serious personal debt problem in Malaysia and hence, no urgent need to clamp down on the usage of the cards. In a truly cashless society, people use cards as a matter of convenience and that could be for small amounts.

Those who had spent many hours devising ways to encourage cashless transactions must be scratching their heads at this “brilliant’’ move to tap into their success in generating the volume and usage of cards.

In the name of consolidation, the Government’s move to slap a RM50 service tax is viewed as a step backwards and too high an amount despite top officials’ assertion that it is “no big deal.’’

A RM10 or RM20 tax would be more palatable while passing on the message of prudence.

Even though the budget announcement says the tax is effective from Jan 1 next year, it may not necessarily mean that it is collected all at once.

A better time would be when the card comes up for annual review, which may be a few years from the expiry. Banks do their internal reviews annually when they decide on the card fees to be charged or waived for the following year of usage.

By stretching that period till December next year, banks may get to retain their card users a bit longer although a 20%-30% cancellation rate is expected.

With just a month towards Jan 1, there is not much time for card users to arrange for cancellations especially when they have to wait for their latest statements to make the last payments.

A decision must be announced soon on what is really going to happen.

l Senior business editor Yap Leng Kuen hears rumblings even among foreigners on the card service tax and how it appears contrary to the Government’s aim to increase private consumption. As a rule of thumb, industry consultation is always advisable for smooth and targeted implementation of any measures.

Vehicle Sales Rise 22.87 Pct In Oct

2009-11-18T15:34:00.001-08:00

Total vehicle sales in October 2009 rose by 22.87 per cent to 46,092 units as compared with the same month last year but the year-to-date market registered a 5.07 per cent contraction.

In October last year, the total vehicle sales was 37,512 units.

The sales up to October this year was 443,711 units versus the 467,425 units sold in the first ten months of 2008, said the Malaysian Automotive Association (MAA) in a statement Wednesday.

Of the total October sales, 41,520 units were passenger vehicles and the remaining 4,572 commercial vehicles, the MAA highlighted.

Production in October this year also increased by 4.13 per cent to 48,191 units from 46,281 units in October 2008 while year-to-date production declined by 10.07 per cent to 404,681 units from 449,988 units last year.

Of the total vehicles produced in October this year, 43,561 units were passenger and the remaining 4,630 units, commercial vehicles.

The MAA said sales volume for this month is expected to recover further amid a continuous favourable market and consumer sentiment, as well as year-end sales campaigns.

Beauty 5

2009-11-16T16:28:00.000-08:00

Beauty 4

2009-11-16T16:27:00.000-08:00

Beauty 3

2009-11-16T16:26:00.000-08:00

Beauty 2

2009-11-16T16:25:00.000-08:00

Beauty 1

2009-11-16T16:23:00.001-08:00

Why Parents Are Always STRESSED!!!!! 2

2009-11-08T19:15:00.001-08:00

Why Parents Are Always STRESSED!!!!! 1

2009-11-08T19:11:00.000-08:00

No of H1N1 vaccines ordered by Malaysia

2009-11-08T19:10:00.001-08:00

MALAYSIA (ordered 400k doses receving nxt yr for population of 28mil)

KUALA LUMPUR: Malaysia will receive 78,000 doses of the of the 400,000 doses of anti-H1N1 vaccine ordered from Britain for frontliners in healthcare and high-risk group end of this month, Health Minister Datuk Seri Liow Tiong Lai said Monday.
The balance vaccine would be received by January next year, he added.

He said although the spread of the disease in the country was still under control, the situation should not be taken lightly with the United States President, Barack Obama, having declared H1N1 a national emergency in the America two days ago.
Liow said Malaysia should be prepared to face the possibility of a second wave of the H1N1, expected end of this year.

"Of course the number of H1N1 patients warded in ICU is decreasing and the death caused by the pandemic is still at 77, but this is not the end, we have to be more cautious and alert to face a second wave of H1N1 which is expected at the end of this year," he told reporters after opening a seminar on "Gastrointestinal and Liver Diseases" at Selayang Hospital.

He also said the spread of the virus was still active in the country and advised the public to take the necessary precautions. - Bernama

No of H1N1 vaccines ordered by Singapore

2009-11-08T19:09:00.001-08:00

Singapore (ordered 1mil doses for population of 5mil by yr end)
H1N1 vaccine rolled out to public and private clinics in Singapore
By Claire Huang, Channel NewsAsia | Posted: 03 November 2009 1833 hrs

Photos 1 of 1

SINGAPORE : Those who want to get vaccinated against the H1N1 flu virus can do so within the next few days.

The Ministry of Health (MOH) rolled out some 50,000 doses of the vaccine to all 18 polyclinics as well as 440 family doctors on Tuesday. The 440 are part of the 600 Pandemic Preparedness Clinics in Singapore.

This comes six weeks after Health Minister Khaw Boon Wan announced that the ministry managed to secure some one million doses of the vaccine.

The first batch of 250,000 doses arrived in Singapore last week, and it took a few days before the ministry received clearance from the vaccine's manufacturer to release the batch of vaccine after it was certified to have undergone proper handling standards.

DaySpring Medical Clinic in Pasir Ris was one of the first to get the vaccine on Tuesday noon, and is offering the vaccine for S$30.

"We've made a total order of 1,500 doses of the H1N1 vaccine, of which, 1,100 have had patients register an interest. Of these, 600 are for two community projects to be rolled out in the coming month and the remaining 500 will be for either companies that have indicated interest in us, or walk-in patients," said Dr Eric Chiam, medical director of DaySpring Medical Clinic.

The clinic will be calling patients who have registered to get the vaccine in the past few weeks.

In the meantime, Dr Chiam is getting his frontline staff vaccinated against the H1N1 virus. Each dose of the vaccine is expected to give the average person a year's immunity against the virus.

Health Minister Khaw said in his blog on Monday that the first batch of 200,000 doses is sufficient to meet demand.

Of these, about 110,000 doses will be taken up by general practitioners as well as clinics. Another 80,000 doses will be set aside to vaccinate the first batch of frontline staff.

The MOH said another batch of 160,000 doses of the vaccine is expected to arrive within this month.

All one million doses that the ministry ordered will be delivered by the end of the year. This is in line with the ministry's stand that there should be enough vaccines to go around for now. - CNA /ls

USER OF MALAYSIA'S NORTH-SOUTH EXPRESSWAY - beware of 3rd lane

2009-11-08T19:06:00.000-08:00

North-south highway 3rd lanes

I am a frequent user of our North-South Expressway and I have this IMPORTANT experience to highlight and share:-

I was driving back to Penang yesterday afternoon ( 24 June 08 ) when I saw the unfortunate accident in the opposite direction involving the passenger bus that skidded and overturned at Tanjung Malim. I didn't know that the skidded bus was from hometown Penang until I watched TV3 news later in the evening and was shocked to learn that the accident took two lives..

Now, this is what I need to share:-

I am a building contractor with over twenty years of experience and I have been driving my 5 series BMW (latest generation and a dammed solid road-holding car) each time I travelled to KL. Lately, the new extended 3 lanes highway had been opened up for use and since then, I have also been using it quite often.

HOWEVER, when I used it each time it is WET, I can really 'feel' that the new road surface is extremely SLIPPERY! To share with some of you, my car comes with a built-in traction control mechanism ( skidding prevention mechanism ) and you can feel it each time it is activated. Previously, I don't come across this kind of slippery feel except when I drive over a paddle of water at certain speed.

From my observation as a building contractor, the 'wearing course' of the new road surface could be TOO FINE OR TOO SMOOTH and TOTALLY UNSUITABLE for highway use!

The wearing course ( top premix layer ) mix design for highways should be of minimum 20mm coarse aggregate mix that will give us the required bond between the surface and our tyres. Fine wearing course ( 14mm coarse aggregate size and below ) is only suitable for normal road. ( A proper test need to be carried out to determine the mix design of the wearing course ).

Since the opening of the three lanes highway, I had seen cars skidding in front me or in the opposite direction and approximately 2 weeks ago, one of my friends who is also a frequent user of our NSE, came to share with me about his slippery feeling as well as the many skidded cars he had seen lately.

I am highlighting this to TV3 and The Star with the hope that a thorough investigation could be carried out immediately to find out how or what causes the bus to skid. A proper and independent test need to be carried out urgently to determine the design mix of the wearing course. THIS CAN SAVE LIVES.

IF YOU ARE USING THE NEW LANES AND IF IT IS WET, MAKE SURE YOU DRIVE SLOWLY!!!!

Petrol At Pump May Follow Market Price Next Year

2009-10-26T22:56:00.001-07:00

KUALA LUMPUR, Oct 27 -- Datuk Seri Ahmad Husni Hanadzlah did not discount the possibility that petrol price at the pump could follow the market price or without subsidy once the restructuring of petrol subsidisation is implemented early next year.

The Second Finance Minister said with the new structure, the offer of subsidy will be more targeted to the qualifying group or the holders of MyKad to enjoy the subsidised petrol price.

"The system is being developed and will be implemented between the first and second quarter," he told reporters after officiating the National Taxation Seminar 2009 here on Tuesday.

Summary of Budget 2010

2009-10-26T01:16:00.000-07:00

Below are the summary in the Budget 2010 which was tabled by the Malaysia Prime Minister, Datuk Seri Mohd Najib Tun Razak:-

* Government to make it easier for skilled/qualified people to get permanent residence status. Visa to be granted for family within 14 days.

* CSR Fund of RM100mil to be set to carry out social programmes.

* Tax breaks for registration of patents and copyrights.

* Big scale factory outlets to be set up to boost tourism besides having major events like KL Grand Prix Fest, National Water Festival, Malaysia International Golf Exhibition and Rain Forest Eco-Challenges

* Taxpayers will get tax relief on broadband subscription fee of up to RM500 from 2010 to 2012. Civil servants can apply for computer loans up to a maximum of RM5,000 from the govt once in every 5 years.

* RM6bil for agriculture sector for paddy fields irrigation, fish production, fruit farming, livestock farming infrastructure, training

* RM2bil subsidy for farmers and fishermen including subsidies for fertilisers, incentives for padi yields and allowances for fishermen

* RM9bil to finance infrastructure projects including road and bridges projects and rail, sea ports and airports facilities

* RM1.5bil fund to promote green technology by providing soft loans to companies that supply and use green technology

* RM200mil Creative Industry Fund to finance film, drama, music productions, animation, advertisements through Bank Simpanan Nasional

* In a bid to develop high quality human quality, RM30bil will be allocated to enhance primary and secondary education nationwide

* Rewards for students who excel in studies:

- 30 National Scholarships to the creme de la creme of students stictly based on merit

- Convert PTPTN loans to scholarships for students who graduate with 1st class honours degree, beginning from 2010,

- Offer a netbook package, including free broadband service, to university students for RM50 per month for 2 years.

* The Permata programme that emphasises early childcare and education, including the gifted child programme, will get RM100mil

* Insurance industry to be improved to meet market demand.

* Govt to clamp down on the abuses committed by Ah Longs by enforcing Anti-Money Laundering and Anti Terrorism Financing Act 2001. Moneylenders Act 1951 to be also reviewed.

* Allow 100% foreign equity participation in corporate finance and financial planning companies compared with the present requirement of at least 30% local shareholding.

* To ensure rapid development of financial services, the existing tax incentives to be extended to 2015.

* Among steps to combat corruption is to set up 14 Special Corruption Sessions Courts and 4 Special Corruption Appeal High Courts.

* Tax of 5% to be imposed on gains from the disposal of real property from Jan 1, 2010. Existing tax exemption will be retained for gifts between parent-child, husband-wife, grandparent-grandchild.

* To promote prudent spending, a service charge of RM50 a year to be imposed on each principal credit card and charge card; and RM25 a year on each supplementary card, effective from Jan 1, 2010.

* To ensure that fuel subsidies only benefit targeted groups, Govt will implement a fuel subsidy management system in early 2010, which will utilise the MyKad.

* All Ministries and govt departments are required to provide day care and education centres for children of civil servants.

* The maximum income tax rate for individuals to be reduced to 26% from assessment year 2010. Personal relief increased to RM9,000.

* Police force to get RM1bil to improve its services in govt's efforts to reduce crime. Major measures include to increase police presence, including mobile police stations in 50 crime hotspots.

* To promote house ownership, Govt will launch a scheme that enables EPF contributors to utilise current and future savings in Account 2.

* Employees' EPF contribution to be increased to 11% again, on a voluntary basis, effective immediately. However, from Jan 1, 2011 employees' EPF contribution will revert to 11%.

* Personal relief for EPF and life insurance schemes to be increased to RM7,000.

Where is my EPF money?

2009-10-20T19:12:00.000-07:00

It does not matter whether the EPF deduction from employees is 8% or 11%. More important is whether the employer submits all the money deducted from the employees’ salary to the EPF.

For eight years, my employer deducted my EPF contributions from my salary. Now, the company has closed down and I found out that my EPF contributions amounting to more than RM10,000 had not been submitted to the EPF.

I have been complaining to the EPF for the past five years. I am 58 years now and until today, I have not received my hard-earned money from the EPF.

LOH SIEW YOO,

Kuala Lumpur.

PNB Hopes To Get 10 Million Share Unit Holders By Year End

2009-10-20T19:06:00.000-07:00

KOTA BAHARU, Oct 20 (Bernama) -- Permodalan Nasional Bhd (PNB) which has successfully reached the target of selling RM100 billion worth of share trust fund units, is looking at increasing the number of its unit trust shareholders to 10 million by end of this year.

The trust fund company has so far sold RM100 billion worth of units through nine share trust funds it has launched since its establishment in 1981.

Its President and Group Chief Executive, Tan Sri Hamad Kama Piah Che Othman said Amanah Saham Bumiputera (ASB) has recorded the highest sales of units worth RM69 billion compared with the other share trust funds.

"Todate, some 9.8 million people have invested in the share trust funds launched by PNB," he said, adding that PNB hoped to see the number increase to 10 million by end of this year.

Hamad Kama was speaking to reporters after launching a state level promotional programme for Amanah Saham 1 Malaysia (AS1M) Kelantan here today.

He said PNB hoped to sell by end of this year all the 10 billion units of AS1M, which was launched by Prime Minister Datuk Seri Mohd Najib Tun Razak on July 31.

So far three billion units of AS1M have been sold, he said, adding that sales had been slow due to a lack of awareness of the fund and also the high trust fund size.

"What we are doing right now is collecting the feedback and complaints from people who could not subscribe the share units," he said.

The quota for the Chinese community of RM3 billion now has a balance of 23 per cent while from the RM1.5 billion quota for the Indian community, sales has reached 20 per cent.

"The quota of RM5 billion for the Bumiputera community has seen sales of only three per cent so far, and this big promotions are being held to attract more people to invest in the AS1M," he said.

There is also possibility that people are doubtful and worried about investing in AS1M which is seen as a new product, he said.

As part of its promotions, PNB has established the Myvi-AS 1Malaysia squad which will have marketing officers going to various popular locations to inform the people of the AS1M.

In Kelantan, the squad will be stationed around the Kota Baharu, Pengkalan Chepa, Pasir Mas, Tanah Merah and Pasir Puteh areas.

500,000 car sales for 2009 possible

2009-10-14T19:46:00.001-07:00

PETALING JAYA: Local automotive analysts are mostly optimistic that 2009 car sales would meet or surpass the Malaysian Automotive Association’s (MAA) full year forecast of 500,000 units.

An analyst from a local bank-backed brokerage said the 500,000-mark was achievable despite a tendency for vehicle sales to slow down in the final quarter of the year – regardless of an economic downturn or not.

For the first eight months of 2009, vehicle sales stood at 351,558 units compared with 379,184 units sold during the same period in 2008. The MAA will be announcing vehicle sales for September later this month.

“You would need to sell another 148,442 units in the last four months of the year to reach 500,000 units. That’s an average of about 37,110 units a month,” the analyst told StarBiz.

“Monthly vehicle sales were lowest in February at 36,675 units, due to poor consumer confidence as a result of the global economic downturn and because it was the shortest month. Sales since have been over 40,000 units a month so the MAA forecast is achievable,” he added.

In its half-year briefing in July, the MAA revised upwards its total industry volume (TIV) forecast for this year to 500,000 vehicles from 480,000 due to improved economic conditions and consumer sentiment.

At 500,000 vehicles, the TIV is down 9% from the 548,115 units sold in 2008.

OSK Research auto analyst Ahmad Maghfur Usman also said MAA’s full-year target was “achiveable for sure,” adding that TIV in the fourth quarter was expected to ease.

“Most (buyers) would prefer registering their vehicle purchases towards next year. Some are also more keen to wait for new models as it has been rather quiet lately,” he said.

On whether he expected anything from Budget 2010, to be tabled next week, Maghfur said: “I expect a more liberalised auto sector as the Government tries to lure more value-added investments.

“Nonetheless, I don’t expect any change in the tax structure. Even if there were, it would be rather minimal; otherwise it would disrupt the secondary market.”

An AmResearch analyst who monitors the automotive sector said he was maintaining his initial forecast of a 14% drop in the TIV to 479,400 units for 2009.

“We’re still maintaining (the forecast) for now as risk leans more to the upside. Fourth quarter sales typically weaken as consumers hold back purchases for new year registrations.

“Perodua’s MPV (multipurpose vehicle) launch in November could provide a boost, but meaningful registration numbers (not bookings) are only expected probably from December or January,” he said.

The analyst said sales for September were likely to be weak or flat compared with August.

“Sales typically weaken towards the end of the year. August probably marked the start (of the slowdown). September this year also coincided with the Hari Raya festivities, (meaning) a shorter working month.”

He added that sales in September 2009 were unlikely to surpass the 50,729 units sold in September 2008.

“September last year was strong, being the month prior to Hari Raya when there were a lot of promotions.”

2.7 Billion AS1M Units Sold

2009-10-14T17:33:00.000-07:00

A total of 2.7 billion Amanah Saham 1Malaysia (AS1M) units have been sold so far, said Permodalan Nasional Berhad (PNB) group chief executive Tan Sri Hamad Kama Piah Che Othman said Tuesday.

The quota for Chinese investors had been 75 per cent taken up, he told reporters after PNB handed over business tithe totalling RM2.2 million to the Penang State Islamic Religious Council here.

He said PNB would hold a series of awareness campaign beginning Oct 20 in Kelantan on AS1M, the fixed price fund with a size of RM10 billion units launched on July 31, 2009 by Prime Minister Datuk Seri Najib Tun Razak.

AS1M is open to all Malaysians with an allocation of 50 per cent for Bumiputeras, 30 per cent for Chinese, 15 per cent for Indians and five percent for other ethnic groups.

Amazing Glass Balcony...fuuuyooohhhhhh 4

2009-10-14T17:30:00.000-07:00

Amazing Glass Balcony...fuuuyooohhhhhh 3

2009-10-14T17:29:00.000-07:00

Amazing Glass Balcony...fuuuyooohhhhhh 2

2009-10-14T17:28:00.000-07:00

Amazing Glass Balcony...fuuuyooohhhhhh 1

2009-10-14T17:20:00.000-07:00

Daily decisions made by couples

2009-10-14T17:19:00.001-07:00

Pantene--You can shine

2009-09-30T00:23:00.000-07:00

Pretty Girls Wants to Marry Rich Man Part 2

2009-09-14T23:17:00.000-07:00

Amazing reply:

Dear Ms. Pretty,

I have read your post with great interest. Guess there are lots of girls
out there who have similar questions like yours. Please allow me to
analyse your situation as a professional investor. My annual income is
more than $500k, which meets your requirement, so I hope everyone
believes that I'm not wasting time here. From the standpoint of a
business person, it is a bad decision to marry you.. The answer is very
simple, so let me explain.

Put the details aside, what you're trying to do is an exchange of
'beauty' and 'money': Person A provides beauty, and Person B pays for it,
fair and square. However, there's a deadly problem here, your beauty will
fade, but my money will not be gone without any good reason. The fact is,
my income might increase from year to year, but you can't be prettier
year after year. Hence from the viewpoint of economics, I am an
appreciation asset, and you are a depreciation asset. It's not just
normal depreciation, but exponential depreciation. If that is your only
asset, your value will be much worried 10 years later.

By the terms we use in Wall Street, every trading has a position, dating
with you is also a 'trading position'. If the trade value dropped we will
sell it and it is not a good idea to keep it for long term - same goes
with the marriage that you wanted. It might be cruel to say this, but in
order to make a wiser decision any assets with great depreciation value
will be sold or 'leased'. Anyone with over $500k annual income is not a
fool; we would only date you, but will not marry you. I would advice that
you forget looking for any clues to marry a rich guy. And by the way, you
could make yourself to become a rich person with $500k annual income.
This has better chance than finding a rich fool.

Hope this reply helps.. If you are interested in 'leasing' services, do
contact me...

signed,
CEO

Pretty Girls Wants to Marry Rich Man Part 1

2009-09-14T23:14:00.000-07:00

A young and pretty lady posted this on a popular forum:

Title: What should I do to marry a rich guy?

I'm going to be honest of what I'm going to say here. I'm 25 this year.
I'm very pretty, have style and good taste. I wish to marry a guy with
$500k annual salary or above. You might say that I'm greedy, but an
annual salary of $1M is considered only as middle class in New York . My
requirement is not high. Is there anyone in this forum who has an income
of $500k annual salary? Are you all married? I wanted to

ask: what should I do to marry rich persons like you? Among those I've
dated, the richest is $250k annual income, and it seems that this is my
upper limit. If someone is going to move into high cost residential area
on the west of New York City Garden ( ? ) , $250k annual income is not
enough.

I'm here humbly to ask a few questions:

1) Where do most rich bachelors hang out? (Please list down the names and
addresses of bars, restaurant, gym)

2) Which age group should I target?

3) Why most wives of the riches is only average-looking? I've met a few
girls who doesn't have looks and are not interesting, but they are able
to marry rich guys

4) How do you decide who can be your wife, and who can only be your
girlfriend? (my target now is to get married)

Ms. Pretty

經典靈異照片

2009-09-13T16:58:00.001-07:00

北韓經典靈異照片
注意看左邊講台旁，有一個穿制服的小女孩
驚嚇指數：80%

恐怖旋轉木馬－膽小鬼別坐
遊樂園的旋轉木馬常常有一些詭異的事發生，
注意看鏡子裡有個小男孩在微笑.......
驚嚇指數：82%

照相時候多出的一隻手
陰森的地方最好別去，這張靈異照片是在泰國一個郊區所拍攝到的，
不知道照片中的幾個男生，有沒有發生特別的事........
驚嚇指數：84%

消失的卓別林？
太不可思議了！這名男子在拍攝的時候確實背後是卓別林人物像，
照片洗出來，卓別林卻不見蹤影........
驚嚇指數：76%

靈異再現--赤崁樓上的幽靈
據說這張照片可信度很高，在赤崁樓上拍攝到的幽靈，
有很多靈異現象是在樓梯間發生，不知樓梯間是不是靈氣聚集之地.....
驚嚇指數：74%

不可思議－火車裡的清朝人
注意看這位先生上方火車頭上有個清朝人的影像，影像清晰可見.....
驚嚇指數：78%

超恐怖！紅色古屋小女孩
聽說這是在南部古宅中拍攝到的照片，拍攝時鏡頭中這個小女孩根本沒出現，
照片洗出後才發現，小女孩身穿古裝，眼神表情詭異，注意看她的表情！
驚嚇指數：93%

'Halal' by Liew Seng Tat - English Subtitles - 15Malaysia

2009-09-11T01:35:00.000-07:00

'Meter' by Benji & Bahir - English Subtitles - 15Malaysia

2009-09-11T01:34:00.000-07:00

'Chocolate' by Yasmin Ahmad - English subtitles - 15Malaysia

2009-09-11T01:30:00.005-07:00

'Gerhana' by James Lee - English Subtitles - 15Malaysia

2009-09-11T01:30:00.003-07:00

'Slovak Sling' by Woo Ming Jin - English Subtitles - 15Malaysia

2009-09-11T01:30:00.001-07:00

'The Tree' by Amir Muhammad - English Subtitles - 15Malaysia

2009-09-11T01:29:00.005-07:00

'One Future' by Tan Chui Mui - English Subtitles - 15Malaysia

2009-09-11T01:29:00.003-07:00

'Duit Kecil' by Johan John - English Subtitles - 15Malaysia

2009-09-11T01:29:00.001-07:00

'Lumpur' by Kamal Sabran - English Subtitles - 15Malaysia

2009-09-11T01:27:00.001-07:00

'The Son' by Desmond Ng - English Subtitles - 15Malaysia

2009-09-11T01:26:00.001-07:00

'House' by Linus Chung - English Subtitles - 15Malaysia

2009-09-11T01:25:00.001-07:00

'Potong Saga' by Ho Yuhang - English Subtitles - 15Malaysia -

2009-09-11T01:24:00.001-07:00

Kseniya Simonova Amazing Sand Drawing

2009-09-08T19:36:00.001-07:00

Did You Know?

2009-09-08T16:58:00.001-07:00

支持黄明志的屌！

2009-09-03T17:00:00.000-07:00