Some discussion about the recent slide in oil price and its impact to world economy

The slide in crude oil price from above $100 per barrel in 2014 all the way down to around $30 per barrel today has caused quite a lot of worries and volatilities in the investment market recently.

I found some data on the annual average prices in US$ per barrel of domestic crude oil from InflationData.com and plotted the graph of inflation adjusted oil price from 1946 to 2015 as below:

In fact, there is also a historical inflation adjusted oil price chart in the website of InflationData.com shown like this:

Looking at the historical oil prices since World War II, and adjusting it for inflation in today's currency value, we can see that most of the time, the oil prices were within the range of $20 to $40, which is what it stays at now.

Observing from my graph above (which is a clean version of the original graph from InflationData.com website cluttered with more information), there were 2 bubbles in oil price, one is in the 1970s where oil price crisis occurred due to wars in the Middle East, and another in the 2000s which once affected by the 2008 economic crisis but quickly restored until the recent burst.

The 1st bubble in the 1970s made Soviet Union into a major exporter of oil, and its burst in 1980s eventually caused the dissolution of Soviet Union in 1991.

Now the 2nd bubble in the 2000s which brought oil price to a level of above $100 per barrel was a super windfall to the oil and gas industry and oil exporting countries, to the extend that their fiscal for 2015 and 2016 need the oil price to stay above $100 per barrel to breakeven.

The recent oil bubble burst sending the oil price to its "normal" price range of between $20 and $40 has no doubt caused trouble to the overspending oil exporting countries. It is also a big slap to the oil and gas industry which borrowed huge debt from financial institutions to finance their drilling activities. This include the shale oil companies in the United States which bloomed up during the bubble.

Who will be most affected by this oil price slide?

The website of World's Top Exports has a list of Top 15 crude oil exporting country in 2014 as follow:

• 1.Saudi Arabia: US$268.2 billion (18.5% of total crude oil exports)
• 2.Russia: $152.6 billion (10.5%)
• 3.United Arab Emirates: $98 billion (6.8%)
• 4.Canada: $88.1 billion (6.1%)
• 5.Iraq: $84.4 billion (5.8%)
• 6.Nigeria: $76.2 billion (5.3%)
• 7.Kuwait: $69.3 billion (4.8%)
• 8.Angola: $61.2 billion (4.2%)
• 9.Kazakhstan: $53.6 billion (3.7%)
• 10.Venezuela: $53.3 billion (3.7%)
• 11.Norway: $44.2 billion (3%)
• 12.Iran: $41.3 billion (2.8%)
• 13.Mexico: $36.2 billion (2.5%)
• 14.Oman: $34.8 billion (2.4%)
• 15.United Kingdom: $29 billion (2%)

 

And the website of US Energy Information Administration (EIA) provides a list of Top 10 net oil importers in 2014 as follow:

• China (6.1 million barrels per day)
• United States (5.1 mbpd)
• Japan (4.2 mbpd)
• India (2.7 mbpd)
• South Korea (2.3 mbpd)
• Germany (2.2 mbpd)
• France (1.6 mbpd)
• Spain (1.2 mbpd)
• Italy (1.1 mbpd)
• Taiwan (1.0 mbpd)

The website of World's Top Exports also provides a list of Top 15 refined oil exporting country in 2014 as follow:

• 1.Russia: US$114.7 billion (12% of total refined oil exports)
• 2.United States: $110 billion (11.5%)
• 3.Singapore: $66.1 billion (6.9%)
• 4.Netherlands: $64.8 billion (6.8%)
• 5.India: $60.8 billion (6.3%)
• 6.South Korea: $49.1 billion (5.1%)
• 7.Belgium: $40.8 billion (4.3%)
• 8.China: $25.8 billion (2.7%)
• 9.United Arab Emirates: $24.7 billion (2.6%)
• 10.Kuwait: $22.8 billion (2.4%)
• 11.Saudi Arabia: $22.1 billion (2.3%)
• 12.United Kingdom: $20.2 billion (2.1%)
• 13.Taiwan: $19.3 billion (2%)
• 14.Malaysia: $18.5 billion (1.9%)
• 15.Germany: $17.9 billion (1.9%)

Generally speaking, high crude oil price will hurt China, United States, Taiwan, Germany, etc. which are top importer of crude oil and also at the same time the top exporter of refined oil. Low crude oil price will hurt Russia and countries in Middle East which are both the top exporter of crude oil and top exporter of refined oil.

 

However, the market is worried that economy slowdown in places like China will cause them to consume less oil domestically and therefore export more refined oil, bringing oversupply situation to the world's oil market, which will then further dampen the oil price.

 

But I think the main worry is with those over-financed oil and gas companies and over-spending oil exporting countries (to erect skyscrapers and luxury places). This is because their repayment default and/or bankruptcy will definitely hurt the finance industry, and a troubled finance industry is really a bad news for the economy.

 

 

Free Touch n Go card preloaded with RM10 and laptop bag to grab for online IWK payment

FYI, Indah Water (IWK) is having a 2016 IWK Online Payment Campaign from 11-31 January 2016.

You can get a free Touch n Go card preloaded with RM10 value if you are among the first 300 customers who pay your IWK bill using online payment method.

If you are among the first 45 customers who prepaid for 1 year of IWK payment, you can get a free laptop bag too.

In order to participate, you need to email your proof of payment to iwkcontest@gmail.com.

Refer to the poster below for more detail.

Updated my HTC One (M8) to Android 6.0 (Marshmallow) with Sense 7.0

My HTC One (M8) Developer Edition smartphone received its OTA update from Android 5.01 (Lollipop) to Android 6.0 (Marshmallow) last week.

In this update, its Sense UI also upgraded from Version 6.0 to Version 7.0.

 

Here are some of the noticeable changes found in this update:

• Android Marshmallow introduces a new feature called Doze which can tremendously prolong battery life. After this update, my phone still has remaining 58% of battery after 19 hours of normal usage with several phone calls, heavy messaging, email checking, calendaring, and moderate BlinkFeed reading, Facebook, web browsing, Youtube, etc. This is really amazing to me. I believe the battery can easily last for 2 days usage without recharging with this new version of Android.

• The Navigation Bar is now user configurable. You can now add more soft buttons to it, define which buttons to show, or even hide out the entire bar.

• Now you can have control on the app permissions, defining what permissions to grant to the apps installed in the phone.

• Configurable "Do not Disturb" mode

• Option to format the SD card as internal storage.

• Home Widget that can auto-switch the icons and widgets on your home screen based on your location (Home, Work, or Out).
• More personalization to the Theme and accent colour.

U Mobile awarded as Malaysia 2015 Fastest Mobile Network by Ookla and give 1GB additional free quota in December 2015 to all subscribers

Which mobile network provides the fastest 4G LTE Internet bandwidth in 2015?

According to the Ookla Speedtest results, the winner is... U Mobile, and the second place is... Celcom. The Maxis who made a lot of noise recently ends up at the third place, and the forth is Digi.

(Source: http://www.speedtest.net/awards/MY)

Right after winning this award, U Mobile has announced that all their postpaid and prepaid subscribers will get 1GB extra quota to their data plan for free in the month of December 2015.

I have received this SMS from U Mobile too!

Seems like I have made a right choice in switching my tablet network provider from Digi to U Mobile recently.

Meanwhile, there is news that P1 who invested heavily in the wrong technology (WiMAX instead of LTE) will make a strike back to the market under the umbrella of TM. This means that TM who all the while in the fixed line market, will soon enter into the competition world in the mobile market, after they bought P1 mobile business quite some times ago.

Things are getting interesting, especially if you still remember P1's advertisement about "potong", ended up they need the rescue from TM.

Anyhow, it is a good news for consumers to see more competition in the market. We look forward for more quality service and more "potong" in pricing among them.

Zero fee for MEPS Interbank Funds Transfer (IBFT) service from 1 Oct 2015 to 31 Dec 2015

There are generally 2 ways to perform interbank money transfer in Malaysia using either online banking, mobile banking or ATM machine.

One way is using the Interbank GIRO (IBG) service provided by Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear). The transaction will take time from a few hours (if the transfer is made early in the morning before 9.30am of the same day) to a few days (if the transfer is made over the weekend or holiday) for clearance. The fee per transaction is RM0.11 including GST.

Another way is using the Interbank Funds Transfer (IBFT) service provided by Malaysian Electronic Payment System Sdn Bhd (MEPS). Unlike IBG, IBFT money transfer is real time and does not need to wait that long time for clearance. The fee per transaction used to be RM1.06 including GST, and has been reduced to RM0.53 including GST from June 2015 onwards.

Now there is even better news for using IBGT. The transaction fee is completely waived, and therefore no GST incurred as well, within the promotional period from 1 October 2015 to 31 December 2015.

Note that this zero fee IBGT promotion is applicable to online banking and mobile banking only. The IBGT done using ATM machine still has a normal fee of RM0.53 including GST per transaction.

Currently, there are 15 banks that offer IBFT instant fund transfer service via their Internet Banking website. They are:

• Agrobank
• Affin Bank
• Alliance Bank
• Bank Islam
• Bank Muamalat
• Bank Rakyat
• CIMB Bank
• Citibank
• Hong Leong Bank
• Kuwait Finance House
• Maybank
• OCBC Bank
• Public Bank
• RHB Bank
• Standard Chartered Bank

There are 6 banks offering IBGT instant fund transfer service via their Mobile Banking service through Android and/or iOS apps. They are:

• Bank Islam
• CIMB Bank
• Citibank
• OCBC Bank
• Public Bank
• Standard Chartered Bank

Source: MEPS zero fee IBFT promotion webpage.

Visualized map of real-time air quality index and forecast of air pollution level

It has been for quite some times the haze resulting from huge forest fires in Indonesia has created a cloud of smog over itself and the neighbouring Malaysia, Singapore, Brunei and southern Thailand.

Here is a website that gather official data of air quality index (AQI) or air pollution index (API) from all around the world, and publish the information in a visualized map and charts. Its URL is: http://aqicn.org/map/

From the website, you can immediately know the current and also forecasted air quality level of a country, region or city.

The URL for Malaysia AQI map is:
 http://aqicn.org/map/malaysia/

(Screen captured on 15 September 2015)

The URL for Singapore AQI map is:
http://aqicn.org/map/Singapore

(Screen captured on 15 September 2015)

The URL for Kuala Lumpur AQI map and chart is:
http://aqicn.org/city/kuala-lumpur/

(Screen captured on 15 September 2015)

Colour indicators in the map and chart:

• Green = healthy
• Yellow = moderately unhealthy
• Orange = unhealthy
• Red = very unhealthy
• Purple = extremely unhealthy

If your Mozilla Firefox web browser can no longer access certain HTTPS websites, try this fix

Mozilla Firefox version 39 onwards will by default block the HTTPS connections to web servers using weak ephemeral Diffie-Hellman (DH) keys.

Bear in mind that by default, Firefox is set to automatically update itself from time to time, so your version will eventually be updated to version 39 and above.
This is a security measure against the Logjam attack. You can click here to read more about this Logjam attack.
If you visit to an affected website using HTTPS connection with Firefox, you will see the following error message:

Affected websites including the webmail of older version of Zimbra Collaboration Suite. Click here for more detail.
You can fix this by installing the Disable DHE 0.1.2 Add-on by Mozilla to Firefox.

To install, go to Menu > Add-ons in Firefox, and search for "Disable DHE". Once you found the add-on, click the Install button to install it.

Restart Firefox and check if this fix works for you.

If your Mozilla Thunderbird email client can no longer get email from mail server, try this fix

One day, I found that there was no new email coming in to my Mozilla Thunderbird email client for quite a long time, but I could still receive new emails from the same server with my smartphone.

I looked into the Error Console of Thunderbird by going to Tools > Error Console (you can also press the hotkeys Ctrl-Shift-J to go to the same place) and found this error message:

A search in the Internet informed that Mozilla Thunderbird version 38.1.0 and above will block the connections to any mail server using weak ephemeral Diffie-Hellman (DH) keys by default, therefore it can no longer retrieve new emails from the affected server.

Bear in mind that by default, Thunderbird is set to automatically update itself from time to time, so your version will eventually be updated to version 38.1.0 and above.

Blocking the weak Diffie-Hellman key exchange is in fact a security measure against Logjam attack against the TLS protocol. You can click here to read more about this Logjam attack.

Affected email servers including older version of Zimbra Collaboration Suite. Click here for more detail.

While waiting for the mail server administrator to fix the problem at the server side, I applied the Disable DHE 0.1.2 Add-on by Mozilla to my Thunderbird, and it can now continue to receive new emails from the server.

To apply this add-on to your Thunderbird email client, click on the link above to go to its download webpage.

Then, click on the "Download Anyway" link and save the file disable_dhe-0.1.2-fx.xpi in your computer.

After that, go to Tools > Add-ons in Thunderbird, pull down the menu button on the left of "search all add-ons" and select "Install Add-on From File..." to install this disable_dhe-0.1.2-fx.xpi into your Thunderbird.

Restart Thunderbird and check if this fix works for you as well.

Padini Group Fair @ IOI Mall Puchong

FYI, Padini Group is currently having a clearance sale in IOI Mall Puchong for their brands including Padini, PDI, Padini Authentics, SEED, Miki, Vincci, and Tizio.

Miki Kids, Miki Baby, PDI Men and PDI Ladies items are selling as low as RM9 only.

Date: 22 July - 2 August 2015
Venue:  Ground Floor of IOI Mall Puchong Sky Dome Atrium (Old Wing outside Aeon supermarket)

Free TM WiFi access for UniFi users

If you are a UniFi broadband user, and your mobile device is able to detect a WiFi hotspot called "TM WiFi" in a restaurant, shopping center, or any one of the 28,000+ TM WiFi sites in Malaysia, you can connect to it to have free WiFi Internet access, thus saving your valuable mobile data usage quota.

To connect to the Internet with TM WiFi, select "TM WiFi" as your WiFi network provider, then open your mobile web browser and browse to any website.

Your browser homepage will be automatically redirected to a TM WiFi login page that looks like below:

Select "UniFi" as your TM WiFi ID Type. Your login ID is your UniFi login username without the "@unifi" behind. Your password is your UniFi password.

You will be able to access to the Internet with TM WiFi upon successful login.

To find out where you can get the TM WiFi Internet hotspots, go to the webpage below:
https://www.tm.com.my/OnlineHelp/CoverageCheck/Pages/TMWifi.aspx

Popular Bookstore has gone online, finally

Popular Bookstore in Malaysia has finally gone online, and their website is https://www.popularonline.com.my.

Although this online bookstore website has both Simplified Chinese and English version, most of the contents are in Chinese. As a result, if you switch to the English option, only the framework language of the webpage will change to English, the content will remain as Chinese.

From today until 2 August 2015, if you found any bug in this online bookstore and report to them, they will give you a 30% discount voucher.

If you register a new account in this website before 2 August 2015 (inclusive), they will also give you a RM8 cash voucher, but the redemption period is until 9 August 2015 only.

Vote your survey choice for the 4 EPF proposals

The Employees Provident Fund (EPF, a.k.a. Kumpulan Wang Simpanan Pekerja, KWSP) has put up an online survey in their website at http://www.kwsp.gov.my for its members to vote for their preference to the 4 proposals they've put up.

The online survey starts from 21 April 2015 until 5 May 2015. You need to login to their i-Akaun system in order to participate in this important survey.

The 4 EPF proposals are as follow:

Proposal 1:  To raise the age for full withdrawal from current 55 to 60.

• Option 1: To increase the minimum age for full withdrawal gradually from 55 to 60 in stages, over a 15-year period starting 2016 until 2031. The minimum age for full withdrawal to increase by 1 for every 3 years.
• Option 2: To continue to allow for full withdrawal at the age of 55, but if you are still working and still contributing to EPF after 55, all subsequent contributions are locked in the fund until the age of retirement of 60.

What is the impact?

For option 1, your EPF money will be locked down and cannot be fully withdrawn for a longer period of time. If EPF performs badly and pays lousy dividend, you have no choice but to just accept it. Currently, you are able to make a full withdrawal of EPF at the age of 55, and you have your own choice to get a better fund manager to manage your fund, or to self manage your fund with your own investment.

For option 2, your EPF money can be set free at 55, and then zerorized and reaccumulates from 55 to 60.

Proposal 2: To collect EPF contributions from both employee and employer at the minimum amount based on the declared minimum wage. The minimum wage is currently RM900 for Peninsular Malaysia and RM800 for East Malaysia.

What is the impact?

If you are having a basic salary below the minimum wage, but total monthly income above the minimum wage after commission, your monthly EPF contributions will increase.

This means your monthly disposable income will decrease, but your total actual income will increase as your boss need to contribute more into your EPF account.

This proposal will not affect you if your basic salary is already above the level of minimum wage.

Proposal 3: To continue to pay dividend to your EPF account until the age of 100, if you don't make a full withdrawal after your age of retirement.

What is the impact?

Currently, EPF will continue to pay dividend to your EPF account until the age of 75 if your account is still active after the age of retirement.

This will be good for you if you trust EPF with your retirement fund until you die.

This will be bad for all other EPF members, as your dividend will be diluted by old folks with active EPF account.

Proposal 4: To introduce option for fully Syariah-compliant fund in addition to the existing EPF retirement scheme.

What is the impact?

The performance of the existing scheme and the new Syariah-compliant scheme might not be the same, and the effort of EPF fund managers on the 2 schemes might not be equal.

Are the members allowed to switch from one scheme to another from time to time?

If you are an EPF member, it is important to vote for your choice in this online survey, as the final decision made and enforced will have long term impact on you, your family, your children, and all subsequent generations.

How to check if a merchant in Malaysia is eligible to collect GST from you

A merchant in Malaysia can only collect the goods and services tax (GST) from its customers after it has registered with the Royal Malaysian Customs Department as GST taxpayer and obtained a unique GST ID.

The merchant need to print out its company name, company full address, and GST ID on its tax invoice with serial number to its customers. The tax invoice could be a full tax invoice with customer's name and address, or a simplified tax invoice without the customer's name and address (i.e. cash sales).

If the merchant did not registered with the Royal Malaysian Customs Department as GST taxpayer, or does not issue tax invoice (either full or simplified) in valid format to its customers, it is not eligible to collect GST from the customers.

We can check for the registration detail of a GST ID in the website https://gst.customs.gov.my/TAP/_/ to ensure that the GST ID is valid and the registered merchant name belongs to the right supplier which we purchased the goods/services from.

You need to click on the "Lookup GST Status" link after you reached the screen as below:

Beside checking using GST ID, we can also check for the GST registration detail by using the merchant's business registration number or company name.

You need to click on one of the 3 radio buttons to select checking by which criteria.

Then, key in the search item and hit Enter. The result will be shown below.

I found that there are a lot of rooms of improvement for this online GST registration checking system, including:

• This website is not mobile friendly. It lacks a mobile user interface when accessed by handphone or tablet.
• We cannot access to the lookup screen directly, and must go through the main page and click the "Lookup GST Status" link. The system should have a direct link to reduce one step of using it.
• Suggest to have a mobile app beside this website. The mobile app should have OCR function for us to scan for the GST ID / company name / company registration number from the tax invoice using the phone's camera, so that we don't need to manually key-in the information to perform the search.

Check for Malaysia goods/services price reasonability with MyKira GST app

Just before Malaysia implement Goods and Services Tax (GST) on 1 April 2015, the Ministry of Domestic Trade, Co-Operatives and Consumerism Malaysia (a.k.a. Kementerian Perdagangan Dalam Negeri, Koperasi Dan Kepenggunaan, KPDNKK) has released an Android app called MyKira GST which enable us to check for the price reasonability of over 10,000 products and services in Malaysia.

The price is checked from the online database of KPDNKK and based on the location (parliament area) of selling.

To do the checking, you need to provide the name of the product/service, which has autocomplete search while key-in.

Then, specify the weight/size/packaging information, which is also having autocomplete search during key-in.

After that, key-in the price you see, and optionally its price before GST (old price) if you remember.

Then provide the information of the shop (premise) and area (parliament). There is a map showing your current location, which can help you in identifying the area you are in.

After that, tap on the submit button to do the checking. It will show you whether the price is within reasonable range, or too expensive (out of range) accordingly.

If the price is found to be out of range, you can tap on the e-Aduan button and immediately file a complaint to KPDNKK.

You can click here to download and install the MyKira GST app from Google Play Store to your Android phone or tablet.

Win a Samsung Galaxy S6 or HTC One M9 or LG G Flex 2 in Choose Your Own Next Gen Android Giveaway

Pocketnow is currently holding The Choose Your Own Next Gen Android Giveaway for you to win a next generation Android smartphone.

 The winner gets to choose whichever of the following phones they want:

• Samsung Galaxy S6
• HTC One M9
• LG G Flex 2

It only takes one step to win: submit your email address in the giveaway website. Click here to enter The Choose Your Own Next Gen Android Giveaway website.

Official Giveaway End Date: 20 March 2015 11:59pm (PST)

EPF declared 6.75% dividend for 2014

The Employees Provident Fund (EPF, a.k.a. Kumpulan Wang Simpanan Pekerja, KWSP) Board, with the approval of the Minister of Finance, has just announced a dividend rate of 6.75% and RM39.08 billion gross investment income for financial year ended 31 December 2014, which is an increase of 11.66% compared with RM35.00 billion in 2013.

The 6.75% dividend amounted to a total payout of RM36.66 billion where RM5.41 billion was required to pay every one per cent of dividend rate for 2014. This was 10.53% higher compared with RM4.91 billion paid for every one per cent dividend rate for 2013, in tandem with the rise in contributors’ savings.

 

EPF global investments, forming 23% of total assets, had contributed 33% towards their total income for 2014.

 

The 2014 gross investment income was mainly driven by Equities in the domestic and global markets covering both emerging and developed countries. The asset class recorded an investment income of RM22.91 billion in 2014, up 17.37% compared with RM19.52 billion in 2013, and contributed 58.63% to the total gross investment income in 2014. Almost half of the income of the equity investment is derived from EPF’s global portfolios.

Majority of the EPF’s investment assets were placed in low risk fixed income instruments as this asset class provided a stable stream of income in the long run.

 

Loans and Bonds contributed RM7.57 billion in income, compared with RM7.51 billion in 2013. This rise was attributed to the performance of the global portfolios by both internal and external fund managers. Malaysian Government Securities and Equivalents recorded RM6.59 billion in income, registering a rise of 6.14%, compared with 2013. Meanwhile, Money Market Instruments posted an income of RM619.65 million.

 

Real Estate and Infrastructure contributed RM1.39 billion in investment income in 2014. This inflation-linked asset class, which the EPF has started invested in since 2010, has over the years been showing encouraging performance and is a 22.31% increase from 2013.
 

As at 31 December 2014, the EPF’s total investment assets stood at RM636.53 billion, up 7.91% from RM589.87 billion in 2013.

 

 

Malaysian International Passport renewal fee reduced

There is news that effective 15 January 2015, the renewal fee for Malaysian International Passport has been reduced to as follow:

• Citizen of age between 13-59: RM200 (old rate: RM300)
• Children below the age of 12: RM100 (old rate: RM150)
• Senior citizen above the age of 60: RM100 (old rate: RM150)
• Student below 21 years old with proof to study abroad: RM100 (old rate: RM150)
• Handicapped or disabled citizen: Exempted (was also exempted)

The Malaysian International Passport is valid for 5 years from the date of issue. There will be no new issuance of Malaysian International Passport with 2 years validity.

The Edge forum on 2015 Economy and Investment Outlook

The Edge Malaysia is organizing a forum on 2015 Economy and Investment Outlook - Make Better Decisions.

Date: Saturday, 1 November 2014
Time: 10.00am - 12.30am
Venue: Security Commission Malaysia, Bukit Damansara, Kuala Lumpur.
Admission: Free

The speakers are:

• Jason Chong from Manulife Asset Management Services Bhd
• Chen Fan Fai from Eastspring Investment Bhd
• Datuk Tong Kooi Ong from The Edge Media Group

Are you shocked with the recent market turbulence and want to listen to the view of these renowned fund managers and/or investors?

Click here for more information and online registration to The Edge forum on 2015 Economy and Investment Outlook.

Download and read the Handbook for Goods and Services Tax (GST) for Businesses

Malaysia government is going to implement the Goods and Services Tax (GST) on 1 April 2015.

The Royal Malaysian Customs Department has published a Handbook for Goods and Services Tax (GST) for Businesses, which is a very good reference book for everyone in Malaysia to have better understanding about this upcoming GST. You can download its e-Book for free from their website.

Click here to download the Handbook for Goods and Services Tax (GST) for Businesses.

The content of this 183-pages handbook consists of:

1. Salient features of GST

• What is GST?
• Proposed GST model
• Basic elements of GST
• Registration for GST

2. Accounting for tax

• Charging output tax
• Entitlement of input tax
• Apportionment rules
• Credit note & adjustment
• Debit note & adjustment
• Bad debt & adjustment
• Filing of GST return & payment
• Record keeping 

3. Implementation of GST and business preparation

• Preparation for implementation of GST
• GST implications
• Tax code
• Business preparation for GST
• Supplies spanning GST
• Non reviewable contract
• Special refund

Beside this handbook, you can also find many information about GST implementation in Malaysia from this official website: http://gst.customs.gov.my/en/Pages/default.aspx

Top 30 property developers in The Edge Malaysia Property Excellence Awards 2014

The Edge Malaysia has just announced the Top 10 winners in their Property Excellence Awards 2014, which are:

• Sunway Bhd
• Sime Darby Property Bhd
• SP Setia Bhd
• UEM Sunrise Bhd
• Gamuda Bhd (Property Division)
• Tropicana Corp Bhd
• IGB Corp Bhd
• Eastern & Oriental Bhd
• Mah Sing Group Bhd
• IOI Properties Bhd

Following the Top 10 winners above, the subsequent Top 11-30 are:

• UOA Development Bhd
• I&P Group Sdn Bhd
• Bandar Utama City Corp Sdn Bhd
• IJM Land Bhd
• KLCC Property Holdings Bhd
• Glomac Bhd
• YTL Land & Dev. Bhd
• Eco World Development Group Bhd
• Naim Holdings Bhd
• Bandar Raya Developments Bhd
• WCT Land Sdn Bhd
• Selangor Dredging Bhd
• Wing Tai Malaysia Bhd
• MKH Bhd
• Paramount Corp Bhd
• KSL Holdings Bhd
• PJ Development Holdings Bhd
• OSK Property Holdings Bhd
• Plenitude Bhd
• TA Global Bhd

Congratulation to the Sunway Group for winning this award. Besides, their Banjaran Hotsprings Retreat also won The Edge-PAM Green Excellence Award 2014.