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Thursday, November 14, 2013

Full implementation of minimum wage policy in January 2014 may drive up cost of food, drinks further

14/11/2013, Sibu: The price of drinks here has increased by between 20 and 50 sen after the government removed the sugar subsidy recently.

Some foods that are not related to the sugarsubsidy also cost more now. But Sibu Coffee Shop and Restaurant Owners Association chairman Tong Ing Kok cautioned that an uglier nightmare might arise in less than two months` time.

This is because the workers` minimum wage policy will be fully implemented by the government in January 2014, and this would translate to higher cost in doing business as it would drive up rental, commodity, water and electricity charges, fuel and transportation costs, among others.

Wednesday, November 13, 2013

Year End 2013

What RM1,000, RM5,000, RM10,000 and RM50,000 can do for you?

Asap residents sue government for interest of delayed compensation

13/11/2013, Sibu: Residents of the longhouses at the Asap resettlement scheme in Bakun are suing the state government for failing to pay their annual interest of the full compensation for the loss of their longhouses.

According to spokesperson of one of the longhouses , Ujang Bengo, the folks of the longhouses in Bakun were required to vacate or abandon their houses to make way for the Bakun Hydroelectric Project (HEP) in 1998.

“In September 1998, we accordingly vacated our longhouses to settle at Bakun Resettlement Scheme (BRS) Area in Sungai Asap and Sungai Koyan, Belaga.

“The government agreed to give full compensation with an eight per cent annual interest to each family (per door). We received 50 per cent of the compensation only on April 14, 2011 and the remaining 50 per cent on Sept 6, 2012.”

Ujang said they were entitled to eight per cent annual interest commencing from September 1998 until April 14, 2011 and/or Sept 6, 2012 for the delayed payment of their compensation.

“If we paid accordingly, we can always make full use of the money, maybe do some business. But we only get our compensation after 13 years, and that is only the capital, where is our annual eight per cent interest?” he questioned.


Source: The Borneo Post, 13/11/2013 (Wed), Home, page 17.

Government in final stage to develop GST computerisation system

13/11/2013, Kuala Lumpur: The Government is in the final stage of preparing the processing centre and developing a computerisation system for goods and services tax (GST), which will be enforced on April 1, 2015.

Royal Customs Department director-general Datuk Seri Khazali Ahmad said they have identified Kuala Lumpur as the location for the processing centre, which would be completed soon.

The computerisation system, known as “myGST”, is 98 per cent complete and will be ready for trial run by year-end, he said.

“In December, the myGST system will be fully ready and we will do try run after that”, he told Bernama in an interview.

Catholic Church files application for leave to appeal to the Federal Court

13/11/2013, Putrajaya: The Catholic Church has filed an application for leave to appeal to the Federal Court the decision of the Court of Appeal which had allowed the government`s appeal to ban its weekly publication the Herald from using the word “Allah” to refer God.

PR1MA offering home buyers lower rate

13/11/2013, Kuala Lumpur: Buyers of homes developed under the 1Malaysia People`s Housing (PR1MA) programme would probably have to fork out only between RM400 and RM500 monthly for a unit that costs RM200,000.00, said Minister in Prime Minister`s Department, Datuk Seri Shahidan Kassim. He said the rate was much lower than what was offered by commercial banks, which was usually around RM1,800.00, and was clearly a good alternative to renting a unit.

“There is no way one can afford to pay RM1,800.00 if one earns a monthly salary of RM3,000.00.

Furthermore, PR1MA will also provide loans” he told reporters outside parliament yesterday, adding, Prime Minister Datuk Seri Najib Tun Razak would announce the good news soon.

Tuesday, November 12, 2013

Sesco using remote system to nab power thieves

12/11/2013, Kuching: Sesco is using a remote monitoring system to closely monitor its high-impact customers to keep power thieves at bay. In fact, it is Sesco`s current practice to install remote meter monitoring for all industrial and high-risk customers, and it is manned by a dedicated team 24 hours a day.

Recently, the system in Kuching detected a supermarket at Pahlawan Commercial Center, a sawmill in Jalan Maaw, and a plastic factory in Jalan Hock Ming in Sibu stealing electricity.

Sibu tops Sesco`s list of power theft, with annual losses averaging rm40 million annually.


All eager for Sebauh Regatta 2013

12/11/2013, Bintulu: Residents of Sebauh sub-district, especially paddlers, are eager and fully prepared to do battle at the Sebauh Regatta 2013 that will be held next week from 15-17 Nov 2013.

Baram Community leaders condemn suit against CM, state government

12/11/2013, Miri: Suing Chief Minister Pehin Sri Abdul Taib Mahmud and the state government is irresponsible act of a few villagers from Long Na`ah and Long Kesseh, and it is against the Kayan/Kenyah culture.

In a press statement issued here yesterday, leaders from both Long Na`ah and Long Kesseh said they would take appropriate action against these individuals for not seeking consent and approval from village leaders and elders before filing the suit.

EPF urges members to name beneficiary

12/11/2013, Kuching: The Employees Provident Fund (EPF) has strongly urged its members to nominate a beneficiary to ensure their loved ones are financially protected when the member passes on.

Friday, November 8, 2013

Sarawak: 20 more parks and natural reserves statewide to be gazetted

08/11/2013, Kuching: The Sarawak government plans to gazette 20 more parks and natural reserves statewide to conserve and protect the state`s diverse biological resources.

Health services will be GST-exempt

08/11/2013, Kuala Lumpur: The Health Ministry yesterday reiterated that health services will be GST-exempt and there will be no substantial increases in the cost of healthcare even after the implementation of GST.

Thursday, November 7, 2013

How is one declared a bankrupt?

The debtor has to be declared a bankrupt by an order from high court. Before one is made a bankrupt by the court, creditors will first file a civil suit against the debtor to declare him insolvent. This process can take a year.

When the debtor has been deemed insolvent, a bankruptcy petition can be filed against him for amounts totalling rm3,001 and above.

While it is the creditor who usually initiates the proceedings, the debtor can also initiate the legal process to declare himself a bankrupt with any amount owed. Either way, this legal process can take another two to three months. The debtor is officially a bankrupt when he is served with the adjudication order and receiving order (AORO)


Source: Personal Money Magazine, Nov 2013

Imminent GST implementation to leave nominal impact on property prices

If you look at it in general, to obtain the properties, it would take at least three years from the signing of the sales and purchase agreements to the completion of the project. Most of the people who really invest, they would not sell so soon but speculators do. So even with the slight increase in RPGT rate, it would not really affect the property market per se.

Baram Dam: Long Na`ah, Long Kesseh folk sue CM, state govt

07/11/2013, Miri: The people of Long Na`ah and Long Kesseh in Baram yesterday filed a suit against the Chief Minister and the State Government over two plots of land affected by the proposed Baram Dam.

Filing the suit on behalf of plaintiffs Anyi Eng, Edward Jok Wan and Engan Engan, for the people of Long Na`ah, and Anyi Ajang, Malang Laeng and Wan Jok, from Long Kesseh, was activist Harrison Ngau.

They named Chief Minister Pehin Sri Abdul Taib Mahmud, in his capacity as Minister as Minister of Resource Planning and Environment, as the first defendant and the state government of Sarawak as the second defendant.


Source: The Borneo Post, 07/11/2013

Wednesday, November 6, 2013

Astro`s price change to pass on rising content costs

06/11/2013, Kuching: Astro`s act of raising the price of its family pack by RM2.00 per month and the sports package by RM6.00 per month effective November 24, 2013 aims to pass on the rise in content cost which had been escalating, especially for premium content like international sports where the English Premier League (EPL) takes up a big chunk of Astro`s spending on sports programming.

In addition to the cost per channel rising, Astro has also increased the number of channels for sports to 14, which includes four high definition (HD) channels, noted the research arm of CIMB Investment Bank Sdn. Bhd (CIMB Research)

It also added 16 new standard definition (SD) and 10 HD Channels to the Astro Family Pack. Since the inception of the pack in 2007, Astro has not adjusted the rate.


IMPACT::While GST will only be implemented in 2015 and that the government does not have a firm date in starting the gradual cut in subsidies, we believe consumer sentiment would be hit negatively and this may cause subscribers to terminate Astro`s services or downgrade  to cheaper packages.

'Most low to medium cost houses owned by Bumis'

06/11/2013, Kuching: The majority of low to medium cost houses in Sarawak are owned by Bumiputeras. According to Assistant Minister of Housing Datuk Karim Rahman Hamzah, the Bumiputeras in Sarawak are not inclined to buy luxury houses due to personal choices.

“It is not the cost that matters. Many Bumiputeras can actually afford luxury homes, it is only a matter of preference,” Karim told The Borneo Post yesterday.


Sources: The Borneo Post, 06/11/2013

New ruling for used car trade

06/11/2013, Kuching: Members of the public who purchase used cars from used car dealers in the country must now have their thumb printed and scanned by the Road Transport Department (JPJ) to prevent scams and other procurement-related problems from occurring. By having a bio record, both parties involved in the purchase transaction would be safeguarded from any rogue business in the used car trade in the future.

Increased RM1.00 per kilo: Fish vs weather

06/11/2013, Kuching: The unpredictable weather and choppy seas were among the factors that contributed to the price hike of fish sold at wet markets recently as fishermen had to take the risk of going out to sea. A survey at the Stutong Wet Market here yesterday found that fishmongers have increased the prices of the fish by RM1.00 per kilo upwards depending on the type of fish they are selling.

Act before situation explodes

06/11/2013, Kuching: The police must take swift action on illegal logging activities and harassment by thugs on residents of eight villages around Melikin and Karangan Melikin to stop situation from escalating

Monday, November 4, 2013

Loan growth picks up pace in September after festivities

#Kuching: After the slowdown in August due to the Aidilfitri and Merdeka festivities, system loans growth in September picked up 0.9 per cent month on month (m-o-m) and 9.5 per cent year on year (y-o-y) against August`s 0.7 per cent m-o-m and 9.3 per cent y-o-y growth.

Minimum wage to be fully enforced next January 2014

#The implementation of minimum wage of RM900 a month in the Peninsular and RM800 in Sabah, Sarawak and Labuan will be fully enforced on Jan 1, 2014 after deferment and relaxation given since January this year.

Penemuruai comment::Just wait and see. How much is enough?