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4/24/2014 04:41:00 PM


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Hope this report will not drag down the share price.


Business & Markets 2014
Written by Ho Wah Foon of theedgemalaysia.com   
Wednesday, 23 April 2014 19:33

KUALA LUMPUR (April 23): Based on news flow and announcements, the following companies may be in focus tomorrow (April 24):

Alam Maritim Resources Bhd announced that a Hong Leong unit and another firm have agreed to subscribe to 123 million new shares in Alam Maritim for RM166.05 million.

Their joint subscription will represent 15.35% of the existing shares in Alam Maritim.

In a filing with Bursa Malaysia, Alam Maritim said it had today entered into a subscription agreement with Associated Land Sdn Bhd and Caprice Capital Intl Ltd for the proposed issuance and allotment of 123 million new ALAM shares, representing 15.35% of the existing paid-up share capital of the company, at an issue price of RM1.35 per unit.

Associated Land, an indirect subsidiary of Hong Leong Company (Malaysia) Berhad, will take up 60 million shares while Caprice Capital, controlled by Poh Yang Hong, will take up 63 million shares.

Alam Maritim’s share price closed 10 sen or 6.4% higher at RM1.65 on Monday. Trading was halted yesterday and today pending this announcement.

Cycle & Carriage Bintang Bhd’s net profit multiplied 21 times to RM1.7 million in the first quarter ended Mar 31, 2014, from RM81,000 a year ago.

Revenue rose 6% year-on-year to RM186.4 million from RM175.9 million.

In a filing with the stock exchange, the car dealer firm said the group’s Mercedes-Benz passenger car unit sales were 19% higher than the first quarter of 2013 due to continuing good demand for the A-Class model.

The firm said the more competitive pricing for both the C-Class and E-Class models also contributed to the higher passenger car unit sales. It added the Group’s after-sales service performed satisfactorily.

A unit of IHH Healthcare Bhd has obtained the business licence for opening a clinic named Suzhou Xin Hui Clinic Co., Ltd in China.

The healthcare service provider said its indirect wholly-owned subsidiary Parkway (Shanghai) Hospital Management Ltd yesterday received the licence from Suzhou New District (Hu Qiu) Administration of Industry and Commerce for the establishment of a foreign wholly-owned enterprise reinvestment clinic.

The licence is valid from Apr 22, 2014 to Apr 21, 2034.

REDtone International Bhd posted a net profit of RM4.99 million for its third financial quarter to end-February 2014, up 27% from RM3.92 million in the previous corresponding quarter.

For the quarter under review, revenue saw a slight increase of 1% to RM40.92 million from RM40.48 million a year ago, the company said in a filing with Bursa Malaysia.

For the nine months to February, the company posted a net cumulative profit of RM14.68, up from RM9.91 million in previous cumulative period.

The data and broadband provider’s revenue for the same period also grew to RM107.5 million, up 10% from RM97.83 million a year ago.

REDtone CEO Lau Bik Soon said the uptrend in the group’s performance was driven largely by its growing data and broadband line of business.

Barakah Offshore Petroleum Bhd’s subsidiary, PBJV Group Sdn Bhd, has secured a RM260 million contract from Petronas Gas Bhd, for the procurement, construction and commissioning of the Pengerang gas pipeline.

In a filing with Bursa Malaysia, Barakah Offshore said the contract was secured in a consortium with CPM Construction Sdn Bhd.

"Work for the contract is expected to commence immediately, and is scheduled to be completed by the second quarter of 2016," said the company.

Barakah Offshore added that PBJV Group has a 50 per cent share in the liabilities and obligations in respect of the contract, and 50 per cent share of the benefits and profits to be derived from the contract, by the consortium.

"The contract is expected to contribute positively towards the earnings and net assets per share of Barakah Group, for the duration of the contract," it said.

Keck Seng (Malaysia) Bhd has proposed a single-tier final dividend of 6.5 sen per unit for the financial year ended Dec 31, 2013.

Ex-date is June 27 and payment date is July 15.

TAS Offshore Bhd’s net profit for its third quarter ended February 28, 2014 almost doubled year-on-year to RM10.5 million from RM5.3 million.

Revenue for the quarter rose to RM114.3 million from RM41.1 million in the previous year’s same quarter.

The group attributed the higher revenue to the completion and delivery of several vessels.

“During the current quarter, higher revenue was recorded because of the completion and delivery of two units anchor handling tug supply vessel, one unit of harbour tug and two units of tugboat,” said the group in a statement to the exchange.

Cumulatively, net profit increased to RM26.3 million from RM10.4 million in the previous corresponding period, while revenue rose to RM193.0 million from RM89.6 million.

Wang-Zheng Bhd (WZB) has announced the payment of a first and final single-tier dividend of 5% or 2.5 sen per share.

The dividend is subject to the approval of WZB’s shareholders at its forthcoming annual general meeting.

“The entitlement date and date of payment shall be finalised and announced in due course,” said a company statement.


Special perk: A tax relief of up to RM3,000 is offered for purchase of personal computers made once every three years.
Special perk: A tax relief of up to RM3,000 is offered for purchase of personal computers made once every three years.
Whether you are a veteran or just a novice at filing your taxes, here’s a checklist to make the task less stressful.
IT’S upon us again - the deadline for filing the 2013 income tax returns for employees is April 30, 2014.
At this time every year, I tend to reminisce about the time of cherry blossoms in Japan when I had my secondment stint with our Tokyo office. Just like how we busied through the audit season then, I see the same scurry in collating income information from our clients here to prepare their income tax returns, chasing them for responses to our reminders just to meet the deadline.
Why? We fear the penalties for late submission of the tax return and/or late payment of taxes.
So, before filing your returns, go through this checklist to avoid those costly errors.
1. Are you taxable for the 2013 income?
If an individual earns an annual employment income of RM26,501 (after EPF deduction), he would have to register a file.
Registration for an income tax reference number can be made at any IRB branch or you can enquire at the Customer Service Centre at 1800-88-5436. A penalty equal to three times the amount of the tax (which is before any set-off, repayment or relief under the Income Tax Act) is payable if a person defaults in furnishing a tax return.
2. Are all of my allowances taxable?
See graphic below.

3. Will all my income be taxed in Malaysia, even those that I earned overseas?
All income accrued in or derived from Malaysia will be subject to Malaysian income tax. Income which you have received in Malaysia from outside Malaysia is exempted from Malaysian income tax if it is not income in connection with your employment in Malaysia.
4. What should I refer to when declaring my income?
You should have received your 2013 EA Form from your employer by now. The EA Form summarises your annual remuneration received in 2013. If you have other income from overseas companies, for example share incentive benefit received in connection with your employment in Malaysia, you would also need to declare the income. A letter from the overseas company confirming the said income is required.
5. How do I declare my income?
The IRB encourages all taxpayers to submit the income declaration via e-filing of the income tax return. More details on e-filing can be obtained fromhttps://e.hasil.gov.my. You do not need to submit the EA Form, receipts or letter of confirmation but you need to keep these records for a period of seven (7) years in case of a tax audit.
6. Can I deduct my donations from my income?
Yes, as long as the donations are made to charitable organisations approved by the Inland Revenue. However, the amount is limited to 7% of your aggregate income.
To check if the charitable organisation you are donating to is approved by the IRB, visit www.hasil.gov.my and search for “List of Institutions under Section 44(6) ITA 1967 “.
7. Are there any other tax reliefs to note?
While much of the income tax relief types remain unchanged for the 2013 tax return filing, here are a few notable reliefs which have been added, removed, altered or have new conditions attached to them. Visit www.hasil.gov.my to see the comprehensive list of tax reliefs one can enjoy.
a) Special tax relief
For those earning an aggregate income of up to RM96,000, they will be able to enjoy a special tax relief of RM2,000. This relief is only applicable for Year Assessment 2013.
b) Personal computer
Tax relief for personal computers will not cover tablets and handphones effective from Year of Assessment 2013. You can still enjoy a tax relief of up to RM3,000 for purchase of personal computers made once every three years.
c) Broadband Internet
Tax relief for broadband Internet will no longer be available.
d) Interest on home financing
Home owners who purchased their property with the sales and purchase agreement signed between March 10, 2009 and December 31, 2010 will have the last chance to enjoy tax relief on interest expended to finance the said property for the first three consecutive years.
A tax relief of up to RM10,000 can be enjoyed by two or more individuals who are eligible to claim relief for the same property subject to the following conditions:
> The taxpayer is a Malaysian citizen and a resident;
> The taxpayer is limited to one residential unit; and
> The residential property is not rented out.
8. What form should I use?
Since the April 30 deadline applies only to employees, you choose one of the following forms:
(a) Form BE (e-BE) – a resident employee who does not carry on business
(b) Form M (e-M) – a non-resident employed with no business income. If you are a knowledge worker, you would use the form affixed with “T” in either of the Form B or M. More details of the form can be obtained from www.hasil.gov.my
9. What is important to note when I claim the tax reliefs?
a) You must be a tax resident. In order to qualify as one, you must be present in Malaysia for at least 183 days in the year 2013.
Full details on the definition of tax residence can be found onwww.hasil.gov.my/pdf/pdfam/PR6_2011.pdf.
b) Reliefs apply to expenses you have incurred in 2013 only.
c) Ensure that you keep the receipts of purchases or proofs of payments. Make copies especially for thermal receipts as the prints will not last.
d) All receipts and proof of purchases need not be submitted at the time of filing the income tax return. However, you have to maintain these records for at least seven (7) years following the end of the year of assessment.
10. Is my monthly tax deduction (MTD) a final tax?
Not necessarily so. You would still need to determine your total tax liability after taking into account the income, reliefs and rebates and compare it against the total tax which has been withheld and remitted to the IRB.
Any shortfall will have to be paid to the IRB no later than April 30, 2014. E-bayaran facility (https://epayment.hasil.gov.my/fpx/one.php) is available. Where there is excess tax withheld, a tax refund will be made to you.
The IRB is encouraging employers to implement a “Monthly Tax Deduction (MTD) as final tax” system from 2014. The employee will still be ultimately responsible to ensure that all income is not under-declared and deductions over-claimed so that a penalty (up to as high as double the amount of tax undercharged arising from an incorrect return submitted) can be avoided.
Here are two bonus takeaways for 2013 tax return filing:
> The tax rates will be reduced by 1% for the chargeable income bands from RM2,501 to RM50,000.
> The IRB has also committed to refund within:
(i) 30 days from the date of submission if the submission is done within the due date through e-filing
(ii) Three months from the date of submission if the submission is done manually, within the due date.
A compensation of 2% where the amount refunded is made after:
(a) 90 days from the due date for electronic filing; or
(b) 120 days from the due date for manual filing
The above 10 questions should guide you to avoid costly mistakes in this tax season. By April 30, 2014, you should have e-filed your tax return and settled your final taxes (if any). Remember also to keep the acknowledgment receipt of e-filing and payment of taxes. As proof, nothing’s better than something in black and white.
> Ang Weina is a Tax Partner at Deloitte Malaysia’s tax practice. She has more than 20 years experience with Deloitte in Singapore, Japan and Malaysia dealing in mobility, rewards and talent issues ranging from tax compliance and immigration matters of employees and employers to advisory on mobility policy, equity incentive design and payroll compliance review.
The comments and opinions here are personal viewpoints of the author and are not reflective of Deloitte’s perspective on the subject matter.

This article is very useful if you want to file your tax. I have just file my TAX. You are advise to do so.

Dead line is: 30 April 2014 - maybe extend to 15 May 2014

With 30 April being the yearly deadline to file your taxes, we hope you were able to file yours on time. Whether you did your filing at the Internal Revenue Board (IRB) office, or chose the convenience of e-filing, as taxpayers we usually have the same question on our mind: “What are the easiest legal ways to claim tax relief”?

After reading this article, you will be able to identify “7 Easy Ways to Claim Tax Relief when Filing your Income Tax”.   

1.       Maximise your deductions for books, insurance and computers

In an effort to encourage the reading habit among Malaysians, the Government allows you to claim a tax relief of up to RM1,000 on book purchases. To make it easier to qualify for this exemption, even purchases of magazines are allowed. This includes electronic books purchased from Amazon.com or Apple Inc.’s Applestore. So, remember to save your receipts when you make that trip to the newsstand or bookstore.

If your Employees Provident Fund (EPF) yearly deduction does not reach RM6,000, then remember to top this up with your insurance payments. Your annual EPF deduction (added to your insurance payments) is tax exemptible up to RM6,000.

Have you purchased a new computer, laptop, Notebook or Ultrabook recently, specifically in the past three years? If yes, do not forget to claim for tax relief of up to RM3,000. Yes, many do not know that laptops, Notebooks and Ultrabooks are all considered as personal computers and qualify for tax relief. However, do take note that you are only allowed to claim for this once every three years. For tablet or iPad owners, sorry but as of 20 March 2013, the Inland Revenue Board of Malaysia no longer considers tablets and smartphones as personal computers. Click here to see the official announcement on this matter.

2.       Your child entitles you to RM1,000 of relief

If you have just started a family, remember to make an additional claim for deduction this year. This is because parents with children are entitled to ordinary child relief of RM1,000 per child. Best of all, this tax relief is applicable regardless of the number of children you have. In other words, the larger your family, the more child relief you can claim.

3.       Take up a sport and save hundreds of Ringgit

If you like to indulge in sports, filing for tax relief via the purchase of sports equipment is indeed possible. A maximum tax relief of RM300 is allowed in respect of expenses for the purchase of sports equipment for any sports activity as defined under the Sports Development Act 1997, so make sure you keep the receipts as supporting documents.

Among the sports activities listed in the Sports Development Act 1997 and eligible for tax exemption include athletics, badminton, body building, canoeing, fencing, golf, recreational activities (?), sepak takraw, table tennis, water sports, and more.

However, take note that a gym membership and personal training session costs do not qualify for tax relief since they are not categorised as sports equipment.

4.       File your taxes separately if you are married

If you and your spouse are income earners, consider filing your taxes separately. While it may seem like an extra step initially, the money you can save makes it worthwhile. This is because filing your taxes via a combined income (joint assessment) will push the chargeable income into a higher bracket, thereby also pushing you into a higher tax rate. When you file it separately, the effective tax rate is reduced.

5.       Your parents can have it “maid”

Taxpayers can even claim deductions of up to RM5,000 (under medical expenses) for the hiring of a maid for their parents who are in need of special care. Of course, this comes with a condition: it has to be certified by a doctor that the parent actually needs special care.

6.       Save your petrol allowance by travelling for official duty

For employees who are given a petrol allowance for travels made on official duty, you can claim a tax exemption of up to RM6,000 a year. Practise advanced planning by recording where you go every day, and for what purpose. As long as your travel is business-related, you can claim up to whatever you incur, provided it falls within your annual petrol allowance limit.

7.       Declare your rental income and always keep proper records

Do you own some form of property that you rent out? If you do, always declare your rental income. Resist the temptation not to declare it, even if your rental income is actually less than your expenses. By not declaring your rental income, you will be taking a big risk, because if you rent the house to an expatriate, they will normally make a claim against their company, and companies are subject to tax audit.

This could present a huge problem. Supposing one day, an IRB officer audits your tenant’s claims against their company. Should the officer then decide to cross-check the claim for rent versus the landlord, they will notice that you have not declared your rental income. Even worse, if you failed to keep proper records, and if the IRB were to get hold of the tenancy agreement, you will have to explain why you did not declare your rental income. If all you have is a verbal explanation, you will get into big trouble.


Ultimately, you must always respect the law when filing your taxes. If you make a correct claim, you will just be paying your due tax. If you take the risk (of under-paying or under- declaring your taxes), and happen to get audited, there are severe penalties and you will probably have to spend months undoing the damage.

Assuming you qualify for tax relief, how much savings can you enjoy? It would depend on your effective tax rate. For example, if your tax rate is at 26% for every RM1,000, that is a savings of RM260. If you forget to claim RM10,000 worth of tax relief, you will burn RM2,600 in tax refunds.

Our advice is for you to build up your knowledge on tax information while being aware of the list of deductions and its conditions. Lastly, always keep your documentation in an easy to retrieve and organised manner, and never rely on your memory when it comes to filing your taxes!

Brought to you by Securities Industry Development Corporation (SIDC), the training and education arm of the Securities Commission Malaysia, as part of its ongoing efforts to create well-informed and savvy investors in the capital market. In addition, the SIDC reaches out to the general public to raise awareness on smart investing and money management through investor education seminars and workshops targeted at various segments of the community, such as schoolchildren, university students, parents, women as well as white and blue collar workers. Currently, we are conducting FREE “Kempen Pelabur Bijak Kebangsaan 2012-2013 (KPBK)” seminars across Malaysia. If you would like to register for a KPBK seminar, log on to www.min.com.my, call 03-62048889 or visit our Facebook page at www.facebook.com/PelaburMalaysia

MORE: http://www.thestar.com.my/Opinion/Letters/2013/04/21/Where-or-how-to-get-tax-rebates/

4/23/2014 11:34:00 AM


ck5354 |

How to earn 100% from stock market within 10 minutes?


Sound ridiculous???

I have done it.

Buy YTL-CR at 0.005 and sell at 0.01.

100% gain. HE HE HE.

If I loss, I loss RM 250. This is the risk that I willing to TAKE.

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