Thursday, April 30, 2009

Cloud computing with Ubuntu Server Edition 9.x

One of the excitement from Ubuntu Server Edition 9.04 (Jaunty Jackalope) which just released on 23 April 2009 is new features in cloud computing.

Ubuntu Server Edition 9.04 provides 2 flavours of cloud, namely:

  • Ubuntu on Amazon EC2 which uses the publicly available Amazon's Elastic Computing (EC2) cloud computing service.
  • Ubuntu Enterprise Cloud for enterprises to build their own private cloud environment on their servers, which is powered by the Amazon EC2-like open source Eucalyptus system. Eucalyptus (Elastic Utility Computing Architecture for Linking Your Programs To Useful Systems) is a cloud system with an EC2-compatible API, elastic block storage (EBS) equivalent and an S3 compatible storage manager.
Cloud computing transforms traditional server infrastructure into a dynamic environment that expands and reduces capacity depending on requirements.

A cloud computing environment combines the resources of a group of servers together over a network. This group of servers is the cloud that provides access to resources on demand.

Adopting a cloud-computing strategy helps businesses conduct their core business activities with greater efficiency and flexibility. It enables greater utilisation of existing hardware while also providing the ability to handle peaks in usage. Thousands of virtual machines and applications can be managed more easily using a cloud-like environment.

Canonical has announced that the next version of Ubuntu Linux 9.10 (Karmic Koala) is planned to be very cloud oriented. As such, we can expect more in the cloud to come.

Click here to learn more about cloud computing from Eucalyptus' presentations and publications.

Click here for technical instructions to setup Eucalyptus in Ubuntu Server 9.04.

You might also be interested to read my article about cloud computing written in July 2008.

Tuesday, April 28, 2009

Will Metro Kajang repeat the history of TSH?

Several years ago, I made some big bucks with TSH (陈顺风资源,9059) and its warrant, when they ventured into palm oil business. By that time, it was still well-known as a cocoa products manufacturer then classified in the Industrial sector in KLSE.

TSH's earnings improved significantly when its palm oil business started to bring in revenue, and hence pushed up its stock price as well as its warrant price. Later, it was reclassified under the Plantation sector, and the rest is history.

Now, Metro Kajang (METROK 美景控股, 6114) well-known as a property developer in Klang Valley has also ventured into palm oil business since December 2007 by acquiring 15,942.60 hectares of land in East Kalimantan to plant oil palm. It might take them 3 years until 2011 before the palm oil business begins to contribute to its revenue, and now the time has already gone halfway of the milestone.

East Kalimantan in Indonesia is a strategic location for oil palm plantation as it is expected to have better yield per hectare, lower labour cost, etc. In fact, several public listed plantation companies in KLSE also expanded their plantation business to Indonesia over the past few years.

The 15,942.60 hectares land bank of Metro Kajang is considered small, compared with other public listed plantation companies, such as:

  • ASIATIC (2291) - 80,000 hectares
  • CEPAT (8982) - 10,300 hectares
  • IJMPLNT (2216) - 29,797 hectares
  • IOICORP (1961) - 169,450 hectares
  • KLK (2445) - 210,000 hectares
  • KULIM (2003) - 82,730 hectares
  • TSH (9059) - 20,000 hectares
  • SIME (4197) - 531,300 hectares

however, it is a good size to start with, and probably will be expanded in the future.

It is worth to note that although plantation is considered a new business to Metro Kajang, it is not new to their executive chairman Dato' Chen Kooi Chiew who already has 18 years of experience in that sector.

Unlike TSH (which once troubled by their cocoa business), the core business of Metro Kajang i.e. property development and management remains strong and dynamic. This business has never fail them since commencing over twenty years ago, as they have uninterrupted profit track record from day one. Therefore, the new plantation business is not expected to override their property business like TSH, but would be another good revenue generator beside the property business.

Beside that, Metro Kajang has other kinds of businesses, which contribute not as significant as their property business. That include furniture manufacturing (in China), money lending, lifestock farming and food processing.

In the short term, their lifestock farming and food processing business is seen to be affected by the current swine flu incident. This might cause some effect on their stock price performance, which might provide some good opportunity for continue accumulation. In the long term, we have seen Metro Kajang has been aggressive in buying more land banks for their property development, and the plantation business should start to bring in revenue from next year (2010) onwards. The importance of this new plantation business can be sensed from the cover page of their 2008 Annual Report.

Despite its low share price at RM0.90 only, Metro Kajang has an NAB per share of RM2.73, net cash per share of RM0.20, cash flow per share of RM0.34, and debt/equity ratio at 0.31 only. These mean that they are financially strong. With the prospected EPS of 16 sen for the coming year, the estimated PE ratio stands at 5.62 by today's closing.

Disclaimer: This article is intended for sharing of point of view only. It is not an advice or recommendation to buy or sell any of the mentioned stock counters. You should do your own homework before trading in Bursa Malaysia.

Monday, April 27, 2009

Paying income tax with online banking

If you are still required to pay for remaining tax after PCB deductions, the deadline to pay the tax is the same as the deadline to submit your BE Form, which is 30-April.

Currently, there are at least 3 banks providing the conveniece for you to pay income tax with their online banking facilities. The 3 banks are CIMB, Public Bank and Maybank.

Here is the procedure to pay your remaining tax with CIMBClicks.

  • Login to your CIMBClicks account.
  • Select "Pay Bills".
  • Select "Lembaga Hasil Dalam Negeri (LHDN - Semenanjung)" from the Payee List. If your income tax account is with the Sabah or Sarawak branch, then select the LHDN payee account for the corresponding state instead of "semenanjung".
  • Key-in your income tax account number as well as the amount of tax you want to pay.
  • On the next screen, select "084 - Bayaran Ansuran Cukai-Individu" for Kod Bayaran.
  • Key-in "2008" for Tahun Taksiran.
  • Key-in "99" for No. Bilangan Ansuran.
  • You need to request for TAC to complete the transaction.
  • You will be charged 50 sen as bank commission for this payment.

Thursday, April 23, 2009

Scrapping of 30% bumiputra quota for 27 sub-sectors

With the recent announcement by Prime Minister (and also Finance Minister) Najib Razak, there will be no more 30% bumiputra equity requirement for 27 sub-sectors in the service industry with immediate effect, which covers the health and social services, tourism services, transport services, business services and computer and related services.

The 27 liberalized sub-sectors are:

Computer and related services

  • Consultancy services related to installation of computer hardware
  • Software implementation services – systems and software consulting services; systems analysis services; systems design services; programming services and systems maintenance services
  • Data processing services – input preparation servies; data processing and tabulation services; time sharing servies and other data processing services
  • Database services
  • Maintenance and repair services of computers
  • Other services – data preparation services; training services; data recovery services; and development of creative content

Health and social services
  • All veterinary services
  • Welfare services delivered through residential institutions to old person and the handicapped
  • Welfare services delivered through residential institutions to children
  • Child day-care services including day-care services for the handicapped
  • Vocational rehabilitation services for the handicapped

Tourism services
  • Theme park
  • Convention and exhibition centre
  • Travel agencies and tour operators services (for inbound travel only)
  • Hotel and restaurant services (for 4 and 5 star hotels only)
  • Food serving services (for 4 and 5 star hotels only)
  • Beverage serving services for consumption on the services (for 4 and 5 star hotels only)

Transport services
  • Class C freight transportation (Private carrier license – to transport own goods)

Sporting and other recreational services
  • Sporting services (promotion and organization services)

Business services
  • Regional distribution centre
  • International procurement centre
  • Technical testing and analysis services – composition and purity testing and analysis services, testing and analysis services of physical properties, testing and analysis services of integrated mechanical and electrical systems and technical inspection services
  • Management consulting services – general, financial (excluding business tax), marketing, human resources production and public relations services

Rental/Leasing services without operators
  • Rental/leasing services of ships that excludes cabotage and offshore trades
  • Rental of cargo vessels without crew (Bareboat Charter) for international shipping

Supporting and Auxiliary Transport Services
  • Maritime agency services
  • Vessel salvage and refloating services
This policy of 30% bumiputra equity requirement for companies listed publicly in Kuala Lumpur Stock Exchange (KLSE) and also for foreign companies that wish to operate in Malaysia has long be criticized by both local and foreign investors, and deemed as the major hindrance for them to invest and run business in Malaysia. It was also one of the major cause for certain existing investors to exit their business from Malaysia and gone to other places like Singapore, Vietnam, China, Thailand, etc.

Nevertheless, with effect from 17 June 2003, the 30% bumiputra equity requirement has been no longer applicable to all sub-sectors of manufacturing sector for foreign investors. It is good that another 27 service sub-sectors are free now.

Over the last decade, Malaysia has lost too much opportunities to neighbouring countries due to certain protective policies. This has been a barrier to the performance of KLSE as well as the economic growth of the country. I believe the bumiputra should have good wisdom to reason that instead of insisting on "guaranteed" 30% of a small cake, why not invite more investors to come in and make the cake grow bigger and bigger by releasing the restrictions on them? They might need to work harder to obtain a "non-guaranteed" 30%, but what you prefer? A "guaranteed" 30% of 100 or a "non-guaranteed" chance of 30% of 1000? Even in the worse case scenario, you only managed to get 10% of that 1000, it is still much much more better than the insisted 30% in the 100, isn't it?

Therefore, I view this move as a win-win-win situation, for the bumiputra, non-bumiputra, as well as the foreign investors. It would be better if the 30% requirement be totally scrapped for all sectors to bring back live to the KLSE as well as the economy activities.

Tuesday, April 21, 2009

IBM the loser in Oracle-Sun deal

Recently, IBM attempts to buy over Sun Microsystems for US$7 billion end up with nothing. However, this move might have catalysed Oracle to buy over Sun with a slightly higher price of US$7.4 billion or US$9.50 per share, which just materialized yesterday (20 April 2009) and becomes today's big news.

With this acquisition, Oracle is now extended its domains in IT field from a leading database, middleware and business applications player, to include operating system (Solaris), office suite (, application platform (Java), virtualization (VirtualBox), thin clients (Sun Ray), servers, processors & chips (SPARC), storage solutions, accessories, etc.

"The acquisition of Sun transforms the IT industry, combining best-in-class enterprise software and mission-critical computing systems," said Oracle CEO Larry Ellison. "Oracle will be the ONLY company that can engineer an integrated system - applications to disk - where all the pieces fit and work together so customers do not have to do it themselves. Our customers benefit as their systems integration costs go down while system performance, reliability and security go up."

Now, Oracle has the well diversified software and hardware capabilities covering almost every angle in the system integration aspect, to rival IBM business as IT giant. IBM is not only a loser in Sun acquisition, but also lost its competitive advantage with the emergence of another full-fledged giant competitor in the IT industry.

Meanwhile, by gaining the control to MySQL, Oracle can also dominate the database world with its enterprise-class Oracle DBMS popular for large scale systems, and MySQL popular for web applications and comparatively smaller scale systems. This will no doubt bringing direct impact to competitors such as Microsoft SQL, Sybase, etc. Again, IBM is a loser as its DB2 will face more fierceful competition.

The world's IT industry has no doubt somewhat shakened by this Oracle-Sun deal. Will there be more mergers and acquisitions, or perhaps alliances formation? Let's wait and see...

Monday, April 20, 2009

Make sure your tax exempted allowances are filed correctly in EA Form

In the latest revised EA Form for tax assessment year 2008 (Borang C.P.8A-Pin.2008), there are 2 columns for filing your allowances / perquisites / gifts / benefits provided to you by your employer.

Column to file taxable allowances / perquisites / gifts / benefits:
Item B.1 - Tip kasar, perkuisit, penerimaan sagu hati atau elaun-elaun lain.

Column to file tax exempted allowances / perquisites / gifts / benefits:
Item G - Jumlah elaun / perkuisit / pemberian / manfaat yang dikecualikan cukai.

Among the tax exempt items (not applicable to owner or executive director of the company) are:

  • Perquisite (whether in money or otherwise) provided to the employee pursuant to his employment in respect of: past achievement award; service excellence award, innovation award or productivity award; or long service award provided that the employee has exercised an employment for more than 10 years with the same employer (up to RM2000 per annum).
  • Gift of new personal computer and monthly broadband subscription fee (registered in the name of the employer) (in year 2008-2010)
  • Petrol card, petrol allowance or travel allowance between the home and work place (in year 2008-2010, up to RM2400 per annum).
  • Petrol card, petrol allowance or travel allowance and toll card for official duties (up to RM6000 per annum).
  • Allowance or fees for parking
  • Meal allowance
  • Allowance or subsidies for childcare in respect of children (up to RM2400 per annum).
  • Telephone, mobile phone, pager and Personal Data Assistant (PDA).
  • Bills for telephone, mobile phone, pager and PDA registered in the name of the employee or employer.
  • Employers’ own goods provided free of charge or at discounted value (up to RM1000 per annum).
  • Employers’ own services provided free or at a discount provided such benefits are not transferable.
  • Medical benefits exempted from tax are extended to include maternity expenses and traditional medicines such as ayurvedic and acupuncture.
  • Interest subsidies for loans up to RM300,000 in respect of housing, motor vehicle and education loans.
Make sure your HR filed your tax exempted items in the correct place (item G) in your EA Form 2008. If they are filed under item B.1, you might end up paying extra tax which suppose can be exempted.

For more detail, please refer to the Explanatory notes to Borang BE [Malay version] [English version].

You might probably interested to read these articles as well:

Up to RM300 income tax deductible sport items

Being proposed for National Budget 2008 (which unveiled on 7 September 2007) and included in the BE Form 2008 as tax deductible item D8C, an amount limited to a maximum of RM300 is income tax deductible in respect of expenses expended by the individual tax payer for the purchase of sports equipment for any sports activity as defined under the Sports Development Act 1997 (Akta Pembangunan Sukan 1997).

The sports equipment includes equipment with short lifespan such as golf balls and shuttlecocks, but excluding sports attire e.g. swimsuits and sports shoes.

So what are the activities considered and defined as sports in the Sports Development Act 1997? Here is the list:

  • Archery
  • Athletics
  • Aquatics
  • Automobile Sports
  • Badminton
  • Basketball
  • Billiards and Snooker
  • Body Building
  • Bowling
  • Boxing
  • Cricket
  • Cycling
  • Equestrian Sports
  • Fencing
  • Foolball
  • Golf
  • Gymnastics
  • Handball
  • Hockey
  • Judo
  • Karate Do
  • Lawn Bowls
  • Netball
  • Rugby
  • Sepak Takraw
  • Shooting
  • Silat Olahraga
  • Soft Tennis
  • Softball
  • Squash
  • Table Tennis
  • Tae kwan do
  • Tennis
  • Volleyball
  • Waterski
  • Weightlifting
  • Wrestling
  • Wushu
  • Yachting

Reference: Sports Development Act 1997

You might probably interested to read these articles as well:

Thursday, April 16, 2009

TM promotional RM10/month package for Streamyx user

If you are a residential Streamyx broadband user, here is a good news for you.

Currently, TM is offering a RM10/month telephone package to their residential Streamyx users. By paying RM10/month, you will get:

  • Unlimited free local calls to TM fixed lines
  • Unlimited free national calls to TM fixed lines
  • Flat rate of 30 sen/min to all mobile and other fixed lines

And when you subscribe to this RM10 Package, you will also get a free DECT cordless phone with LCD display.

This package is quite attractive as it can bring savings if majority calls from your home phone are to TM fixed lines (local and/or national, including faxes). However, note that the RM25 monthly fee is still applicable with normal Streamyx plan, and not applicable for Streamyx Combo package.

Note that this is an exclusive limited time promotion plan of TM valid from 1 April to 30 June 2009 only.

Click here for more information on the TM RM10 Package. It is advisible for you to read the Terms & Conditions page as well as the FAQs.

Wednesday, April 15, 2009

Help to fight hunger by playing quiz in

FreeRice is an innovative brainchild of a programmer John Breed launched in 2007. It is a website where you can answer a series of multiple-choice quiz questions, and if you answer correctly, the site's sponsors will donate 10 grain of rice to the United Nations World Food Program.

FreeRice has two goals, which are made possible by the generosity of the sponsors who advertise on the website:

  1. Provide education to everyone for free.
  2. Help end world hunger by providing rice to hungry people for free.
The default quiz is about English vocabulary, and you can take the quiz of different subjects covering art, chemistry, English, geography, language learning, math, etc.

John has won the Harvard University's Berkman Award in 2008 for creating the website. In March 2009, John has already donated the site to the UN World Food Program. The website is also a winner of Yahoo! Finds of the Year 2007 (Charity Category).

This is not a scam. You can really take the quiz and feed the hungry with By 13 April 2009, 62,751,284,800 grains of rice already donated in this interesting way.

Here are some examples of where FreeRice rice has been distributed:

  • In Bangladesh, to feed 27,000 refugees from Myanmar for two weeks.
  • In Cambodia, to provide take-home rations of four kilograms of rice for two months to 13,500 pregnant and nursing women.
  • In Uganda, to feed 66,000 school children for a week.
  • In Nepal, to feed over 108,000 Bhutanese refugees for three days.
  • In Bhutan, to feed 41,000 children for 8 days.
  • In Myanmar, to feed 750,000 cyclone affected people for 3 days.

Saturday, April 11, 2009

Sukuk Simpanan Rakyat 2009 with 5% annual return

Have you heard about Sukuk Simpanan Rakyat (SSR) or seen its advertisement in mass media recently?

Sukuk Simpanan Rakyat (SSR) 2009 is an RM5 billions national Islamic savings bond issued by government of Malaysia and offerred to Malaysian citizens aged 21 or above. It is part of the Malaysian RM60 billions economic stimulus package announced in March 2009.

Bank Negara will issue the SSR in 2 phases. The issuance of SSR 01/2009 amounting to RM2.5 billion is on 14 May 2009 and will be offered to the public from 14 April to 13 May 2009 on a first-come-first-served basis and subjected to terms and conditions specified.

This SSR 01/2009 will have a maturity of 3 years, with profit rate of 5% per annum. The tax exempted return is paid quarterly (amounting to about 1.25% each payment). Minimum holding per person is RM1k and maximum holding is RM50k. It is is non-negotiable, non-transferable and non-assignable. This mean that this bond cannot be traded in any way.

During the sales period, the SSR 01/2009 can be subscribed at all agent banks, i.e. commercial banks, including Islamic banks, Bank Kerjasama Rakyat Malaysia Berhad, Bank Simpanan Nasional and Bank Pertanian Malaysia Berhad.

Click here for more information about Sukuk Simpanan Rakyat (SSR) 2009.

Wednesday, April 8, 2009

CIMB Petronas Mastercard offers 5% rebate every 1st day of the month

CIMB Petronas Mastercard is a credit card that is free for life (no annual fee) and provides 2% rebate on spendings at Petronas service stations, 0.5% rebate on other retail transactions. Beside that, card holder can enjoy special discounts and privileges when using it to make payment in more than 500 outlets nationwide.

Now, on top of that, this credit card will also provide 5% rebate on spendings at Petronas service stations made in the 1st day of every month, until October 2009.

However, this rebate is capped to a maximum spending of RM200 or rebate of RM10 on every 1st day of the month, and subjected to a maximum spending of RM2,500 at Petronas service stations or rebate of RM50 per card per month.

This doesn't look as attractive as their previous campaign which provided 3% rebate (everyday) for spending in Petronas service stations, which has already ended on 17 November 2008. Yet, it is better than none.

Forrester Research: Sponsored conversations make sense

According to an independent report published by Forrester Research on 2 March 2009,Sponsored Conversations is an evolving practical trend of marketing technique to stay and mature, especially when appropriately protected for disclosure and authenticity.

Sponsored conversations take place when marketers provide monetary or non-monetary form of award (or compensation) to bloggers who write and share their experience to the general public about their products, services, websites, etc.

If it is managed properly, this marketing approach is seen to be cost-effective, scalable, far-reaching and persuasive.

"The growth of sponsored conversation could lead to a whole new industry within the interactive marketing space and will have some dramatic effects on the blogosphere." -- Forrester Research

Click the banner at the footer of this webpage to download the full report of Forrester Research for free.

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Tuesday, April 7, 2009

Mind Mapping with XMind

Originated as the brainchild of Tony Buzan (a famous psychology author and educational consultant), Mind Mapping has been used by many people as a great and interesting method to visualize and organize their thinkings, ideas, decisions, planning, problem solving, etc.

Mind Mapping can also be used for group of people during discussions, brain storming, note taking, etc.

XMind is an easy to learn and easy to use general purpose mind mapping application. Its diagram objects can be easily switched for mind maps, fishbone diagrams, tree diagrams, org-charts, logic charts, and even spreadsheets.

Being developed in Java, it is cross-platform and can be run in Windows, Linux and Mac OS. For Ubuntu and Debian Linux users, XMind is also well packaged as DEB distribution file for easy installation. There is also a portable version which doesn't require installation to use.

XMind has user interface in different languages, including English, Chinese (simplified & traditional), Japanese, German, etc.

Starting from its Version 3, XMind which was once proprietary and selling at US$299 has gone open source since 14 November 2008. This is really a good news for mind mapping fans. This mind mapping application now comes in 2 flavours - the free XMind and subscription based XMind Pro.

Click here to read about how XMind can be used by different people, such as meeting organizers, project managers, teachers, department members, students, team managers, architects, designers, etc.

In order to download XMind or XMind Pro from their website, you are required to create a free user ID in their website. With this user ID, you can collaborate with other XMind users in the community, share your maps with others, etc. There is a huge collection of sample maps available in their website.

Sunday, April 5, 2009

Silicone wiper with lifetime warranty

The boneless rubber wipers that I last bought have already served me for about 20 months now. Although they are still usable, I noticed that the rubber colour has faded over time. Therefore, I decided to replace them with silicone wipers, which are about the same price of my boneless rubber wipers.

I have selected silicone wipers this time, as silicone material (made of silicon-oxygen polymer) is known to be very durable and will not degrade from prolonged exposure to sunlight, UV, ozone, washer fluid, road residue, chemicals, etc. (Some people or even vendors called this kind of wiper as "silicon wiper", but I think the correct term should be "silicone wiper" instead.)

I ordered the SWV silicone wipers through their website. This brand has been around for years, and the wipers are said to be imported from USA and manufactured by the same manufacturer of SilBlade.

The price can be calculated online by providing the make and model of my car. After making my order with their online form, they called me 2 days after to arrange for delivery and installation. The payment term is cash on delivery (COD), and to my surprise, no deposit is needed before delivery.

They sent a guy to deliver and install the wipers to me at the location chosen by me. I was also given a Lifetime Warranty Card, and they'll provide onsite support for the wipers. The wipers can wipe really clean, and I am happy with them.

My boneless rubber wipers are now kept in my storeroom as they are still usable. Perhaps will give them to friend who want to try out boneless wipers.

Friday, April 3, 2009

Free dental check-up and consultation in Oral Health Month

This April 2009, Colgate and the Malaysian Dental Association are having roadshows in major shopping complex nationwide for the Oral Health Month campaign.

During this awareness programme, free dental check-up and consultation will be given to the public in their roadshows, in-store venues as well as 560 participating dental clinics nationwide.

The road show venues are:

  • April 3-5: Sunway Pyramid, Petaling Jaya
  • April 7-12: Jusco Tebrau City, Johor
  • April 16-18: Mydin Kuala Terengganu
  • April 24-26: Sunshine Farlim, Penang

You can click here to visit to the Oral Health Month website. Complete list of locations providing the free dental check-up and consultation during this campaign is available there.

Downloadable documents, references and forms for 2008 income tax assessment

For your information, you can download the soft copy of some reference documents from the website of Inland Revenue Board (a.k.a. Lembaga Hasil Dalam Negeri, LHDN) to help you in assessing your income tax for year 2008.

The downloable documents including manual tax submission forms (Borang B, BE, etc.), explanatory notes to income tax items, user's guide to fill up the tax submission forms, tax assessment worksheets (helaian kerja), etc.

The exact download page is as below:

And here are the direct link to the more popular documents for you to click and download:
If you need to fill-up some worksheets (helaian kerja) for your income tax documentation, you can print them from the attachment of the user's guide. Those worksheets include:
  • HK-2 – Pengiraan Pendapatan Berkanun Penggajian
  • HK-3 – Tolakan Cukai Di Bawah Seksyen 110 Akta Cukai Pendapatan 1967 / Seksyen 51 Akta Kewangan 2007 (Dividen)
  • HK-4 – Butir-butir Harta/Aset Dan Jumlah Sewa
  • HK-5 – Pengiraan Pendapatan Berkanun Faedah/Royalti
  • HK-6 – Tolakan Cukai Di Bawah Seksyen 110 (Lain-lain)
  • HK-8 – Pendapatan Daripada Negara Perjanjian Pengelakan Pencukaian Dua Kali Dan Tuntutan Pelepasan Cukai Di Bawah Seksyen 132
  • HK-9 – Pendapatan Daripada Negara Bukan Perjanjian Pengelakan Pencukaian Dua Kali Dan Tuntutan Pelepasan Cukai Di Bawah Seksyen 133
  • HK-10 – Potongan/Ansuran Cukai Yang Telah Dijelaskan
  • HK-13 – Pelepasan Anak Bagi Anak-Anak Di Bawah Tanggungan Yang Belum Berkahwin
  • HK-14 – Premium Insurans Nyawa/Caruman Kepada Kumpulan Wang Simpanan Dan Pencen Yang Diluluskan Serta Insurans Pendidikan Dan Perubatan
Related article:
e-Filing system for 2008 income tax assessment is ready to be used

Malaysia blacklisted by G20 as tax haven?

This is a shocking news to me, as Malaysia, together with 3 other nations i.e. Philippines, Uruguay and Costa Rica, were blacklisted as uncooperative tax havens by the Organization for Economic Cooperation and Development (OECD) at the request of the Group of 20 (G20) summit.

In my perception, Malaysia is very far from being a tax haven to its residents. People always say that if you buy a big car, or a high-end property, you will always be on the eyes of Inland Revenue Board (IRB, a.k.a. Lembaga Hasil Dalam Negeri, LHDN). Same will go to those who never declare for income tax, or declared very little, and buy something valuable within the nation.

After some Google findings, it seems that the cause for this blacklist is by the Labuan offshore financial centre, which is viewed as the tax haven for foreigners. Although it is "offshore", now this small little island has caused a major impact to the whole Malaysia by this OECD's no-play-play blacklist action.

Surprisingly, some well-known tax havens such as Switzerland, Singapore, Cayman Islands, Liechtenstein, Monaco are just in the "grey list", together with Luxembourg, Austria, Belgium and Chile, just because they have agreed to "improve transparency standards".

China (including Hong Kong and Macao) is even in the "white list", due to their "commitment" to implement the internationally agreed tax standards.

So, it is now clear that the blacklisting is not based on how far the nations has gone in harboring foreign tax avoiders, but how cooperative to G20 are they in implementing the demanded tax standards.

This must be the most unwanted "greeting" to Najib who just sworn in as the new prime minister of Malaysia today. How will he resolve this issue?

For your information, the G20 is made up of the finance ministers and central bank governors of 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the United States of America, and also the European Union who is represented by the rotating Council presidency and the European Central Bank.

The Managing Director of the International Monetary Fund (IMF) and the President of the World Bank, plus the chairs of the International Monetary and Financial Committee and Development Committee of the IMF and World Bank, also participate in G20 meetings on an ex-officio basis.

Wednesday, April 1, 2009

Singapore wins back Evergreen Marine

On 2002, Evergreen Marine (长荣海运) completely pulled out of Singapore and settled down in Port of Tanjung Pelepas in Malaysia, as said due to cost issue.

Recently, the Taiwanese founder of Evergreen Group, Mr. Chang Yung-Fa (张荣发) appeared in Singapore and announced the opening of Evergreen Marine (Singapore) Pte Ltd, a newly formed company for the reentrance of Evergreen Marine back to Singapore.

Evergreen is expected to have 13 ships presently flying the Panamanian flag to move to Singapore and raise the Singaporean flag to take advantage of the Singapore's Approved International Shipping Enterprise (AIS) scheme which provides 10 years renewable tax exemption for qualified international shipping companies. In fact, one of their vessel already flying with Singaporean flag on 10 March 2009, which is their first vessel ever flying the flag of Singapore.

Mr. Chang also announced that Evergreen will expand their Singapore operations and plan to have about 50 Singapore-based fleets in the near future. This is considered significant, as Evergreen Marine has a total of about 180 vessels now.

Meanwhile, Evergreen does not have any expansion plan for their operations in Tanjung Pelepas.

This shows that Singapore has learnt their lesson, responded fast, and succeed in winning back this marine big player to their port. This move from Evergreen is expected to contribute positively to their economy and labour market. Congratulation.

Hint: Click on the "Older Posts" link to continue reading, or click here for a listing of all my past 3 months articles.