Malaysia Budget 2010

I just got back from another big Toastmaster event - District 51 Semi Annual Convention in Genting. Should have taken Monday off, but my leave was cancelled due to some 'urgent' work i need to attend to. So yeah, there goes the well deserving break and a week of flu and bad cough all week long.

One of the exciting thing that happen over the weekend was the 2010 Budget and so that i don't forget, this is a recap (taken off Zana from a website she browsed through - i think it was Bernama/Reuters). Enjoy:

2010 BUDGET BUSINESS HIGHLIGHTS

2010 BUDGET BUSINESS HIGHLIGHTS

* Malaysia economy to grow 2-3 per cent in 2010

* Mining to grow 1.1 per cent, manufacturing sector 1.7 per cent, agriculture 2.5 per cent, construction 3.2 per cent and service 3.6 per cent.

* Private consumption expand 2.9 per cent while private investment 3.4 per cent

* Per capita income to increase by 2.5 per cent to RM24,661

* TNB to spend RM5 billion to implement electricity generation, transmission and distribution projects in 2010.

* Individual tax relief on broadband subscription fee up to RM500 a year from 2010 to 2012.

* Public-private collaborations to include an integrated immigration, customs and quarantine complex in Bukit Kayu Hitam, construction of six UiTM campuses and the development of MATRADE centre

* 1Malaysia Development Bhd (1MDB) will establish a corporate social responsibility fund totalling RM100 million as a start to finance community activities

* Government to allocate RM899 million to intensify tourism industry.

* Government to enhance tax incentives for healthcare service providers who offer services to foreign health tourists with income tax exemptions of 100 per cent on the value of increased exports from 50 per cent previously.

* Individual taxpayers to be given tax relief on broadband subscription fee up to RM500 a year from 2010 to 2012

* Civil servants are eligible to apply for computer loans once in every three years and up to a maximum of RM5,000 from the government once in every five years

* Formulate Halal Act in collaboration with State Islamic Religious Councils.

* To corporatise the Halal Industry Development Corporation as an agency under MITI

* Intensify Halal Certification by the Islamic Development Department of Malaysia (JAKIM) by collaborating with international institutions to obtain standards certification such as HACCP ad GMP.

* To provide RM24 million to develop halal products anti-smuggling system at three entry points and three main ports.

* Allocate RM137 million to upgrade and improve drainage and irrigation infrastructures in paddy fields involving 180,000 farmers.

* To provide RM70 million to build the Paya Peda Dam Project in Terengganu to increase water supply capacity to paddy irrigation scheme in Besut.

* Allocate RM82 million to modernise aquaculture industry and conduct entrepreneurship training scheme for aquaculture breeders with focus on production of fish fry and ornamental fish.

* “The stock market will be further liberalised to enhance its efficiency as well as attract domestic and foreign investment. For this purpose, the government will undertake the following measures: First, liberalise the commission sharing arrangements between stockbrokers and remisiers in 2 stages to encrouage retail participation in the stock market. The first stage, which takes effect immediately, allows flexible brokerage sharing at a minimum rate of 40 percent for remisiers. The commission sharing will be fully liberalised in the second stage, effective 1 January 2011.

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

* “Islamic banking assets account for 18.8 per cent of Malaysia’s total banking assets while takaful industry assets contribute 7.7 per cent of total insurance and takaful industry assets. To ensure rapid development of financial services, particulalrly in Islmaic finance, the government proposes that the existing tax incentives be extended to 2015.

* “The government is currently at the final stage of completing the study on the implementation of goods and services tax (GST), particularly to identify the social impact of GST on the people. The purpose of this study is to ensure that if GST needs to be implemented to stabilised Government finance, it will not burden the population. “If the government implements GST, it will replace the current sales tax and service tax as well as exemption will be granted to the low income group. The GST rate to be imposed will be lower than the current sales tax and service tax rates.

* “The government needs to ensure that the Malaysian tax system is equitable and able to generate revenue for development purposes. In line with this, the government proposes that a tax of five per cent be imposed on gains from the disposal of real property from 1 January 2010.

* Effective Jan 1 2010, government agrees to allow agencies to retain 50 per cent of rentals received while the remaining 50 per cent will be remitted to the government as revenue.

* The Government will implement fuel subsidy management system in early 2010.

* The Government proposes the maximum income tax rate to be further reduced to 26 per cent from 27 per cent effective from the 2010 year of assessment.

* Maximum tax rate for cooperatives will be reduced to 26 per cent while the fixed tax rate for non-resident individuals will be cut to 26 per cent.

* Personal tax relief will be increased to RM9,000 from RM8,000 effective from the 2010 year of assessment.

* The Government also proposes income tax on employment income of Malaysians and foreign knowledge workers residing and working in Iskandar Malaysia be imposed at 15 per cent compared with the maximum 26 per cent for the rest of the country.

* Government to launch a scheme in January 2010 that enables EPF contributors to utilise current and future savings in Account 2 to promote house ownership.

* RM14.8 billion is allocated to manage, build and upgrade hospitals and clinics.

* The Government will issue 1Malaysia Sukuk totalling RM3 billion.

* The Government will establish the 1Malaysia Retirement Scheme to be administrated by EPF.

* Employees EPF contributions will be raised again to 11 per cent on a voluntary basis with immediate effect. However, from Jan 1, 2011 employees' EPF contribution will revert to 11 per cent.

* The Government proposes existing personal tax relief of RM6,000 for EPF contributions and life insurance premiums be raised to RM7,000.

* Government allocates RM2.3 billion to build and upgrade infrastructures in rural areas.

* Government provides RM41 million to improve income and quality of life of the Orang Asli Community by implementing various projects.

* Budget 2010 allocations totalled RM191.5 billion, of which RM138.3 billion is for operating expenditure and RM53.2 billion for development expenditure.

* Federal Government revenue in 2010 to decline by 8.4 per cent to RM148.8 billion.

* Budget deficit at 5.6 per cent of GDP compared with 7.4 per cent in 2009.

Forgot to mention about the RM50 charges on credit card users - what a load of bull.

Episode Geram: Malaysian Mentality

So i really hate all this Malaysian mentality. Da! what's up with all this politeness and all those so-called Asian courtesy- err, are you confuse between courtesy with just being stupidly-arrogant? Scenario today:

1. "Why your staff tak senyum kat i tu? Dia tak suka i ke?" I entered the bosses office and handed him the info he wanted. There was another lady in the office talking on the phone, and i did not stop,greet and smile at her. So i don't have the courtesy? What the!!!? Its not like i went to throw a banana at her, or put on a long face being displease at her presence there. I just didn't look at her and happily smile WHILE SHE WAS IN A FREAKING CONVERSATION. I thought it was rude to interrupt someone who's on a MIDDLE of a conversation? And apa peduli aku. Do i really have to be nice to every single person on earth!

2. You should address an older person by their title - in Malaysia, that means En, Puan, Cik etc. In anywhere else, you don't address people as Mr, Mrs, Miss something unless you are really trying to be those proper aristocrat (i think). Why do you have to call people by title (unless its a Datuk, Datuk Seri, Tan Sri, etc) if you are doing it on a professional level? Hmm.. i may be a bit bias here, but unless you are at least a Senior Manager or General Manager in my company, i don't think much of you. Professionally, everyone should be the same.

So yeah, i am being bitchy today. Probably didnt feel much loved these past few days.

Until then, the bitchiness rest.

The erratic me

So yeah, they say ladies have erratic temper.

I say, the hell with it. So what?

I had one today, but i was sick (yeah, excuse). But its been a bad Raya anyway this year, so who cares.

I don't.

So you shouldn't.

Selamat Datang ke Company-ku

I was looking at my entry and noticed that the last time i wrote on this blog was in April of this year, right before i left for the Kuching Toastmaster Annual convention.

Ok let me get my names cleared. I so did not entirely dissappear from the face of the blog-world. If you just google out my name, you'd notice that i've been busy with another blog i've set up which pretty much reflect where much of my time was - with Toastmaster! I've been busy uploading entries from DDYPC TMC to my very own toastmistrez.blogspot.com.

And i can't blame it entirely on toastmaster, cause then i have my speed dating (justsingles.blogspot.com) and some other secret society blog (which only us girls have the privy to bitch about guys we were/am with) and of course, i was busy with Mr. Somebody who apparently will step his first foot in KLCC working as an exec with MY COMPANY.

Probably will be a terrifying experience when your boyfriend works in the same company, and have probably set up some ploy to check out your every move. Erkk.. No sayang, i did not mean that.

But yeah, am happy that you will be joining us brains working diligently for the Nation. Go 1Malaysia, in whatever logical sense that will make.

Welcome welcome.

Otw to Kuching.. Last Minute Entry

What is it about last minute tendency that encourage people to do so? Why can’t we plan our lives better, and not put off things until we are push to the very edge?

For me, a typical working day starts on mid-afternoon Sunday, and ends right up to before the Friday prayer. Don’t ask me why, it just is. Anything less than a mid-noon Sunday is considered hazardous, and anything later than the stipulated Friday working hour is considered normal.

Yesterday was a Thursday, but it felt like a typical Friday to me. Work finished by 1 pm, and by then, none of my bosses were around. Sigh. By then, I was already getting excited to leave for Kuching the next day (which is the sole reason why I am up at 4 am this morning, and sitting here with a couple of Toastmasters members on this chill Friday morning waiting for the 0710 flight).

So, there goes another non-productive ‘Friday’. But hooray.. Kuching, here I come!

Earth Hour = Media Hour?

I was impressed by the level of enthusiasm displayed by families, friends or even strangers in their cause to support the ‘Earth Hour’. Who could dispute the fact that 1 hour of energy saving would be of benefit to the environment, but what is it really about?

By Definition:
Earth Hour is an annual international event created by the WWF (World Wide Fund for Nature/World Wildlife Fund), held on the last Saturday of March, that asks households and businesses to turn off their non-essential lights and electrical appliances for one hour to raise awareness towards the need to take action on climate change. It was pioneered by WWF Australia and the Sydney Morning Herald in 2007, and achieved worldwide participation in 2008.

Simply translating that into:
Another commercial frenzy for the giant companies to show their support towards another humanity cause, to gain the media advantage and public recognition.

I don’t believe in the initiative, because for me, individuals need to do more than just switch off their light for an hour. I mean, you have 24 hours/day, 7 days a week, 4 weeks a month, 12 months a year. Surely, there’s more than 1 hour in a year for us to conserve the environment.

But these giant companies are another case altogether. I mean, how else would they actually do some good to the humanity, if not for another media advantage? Malaysian TV are broadcasting their effort, the paper are writing about it, and people aka the most gained publicity are talking about it. So, why not?

Let’s just reap the advantage of this free promo. Let’s pretend as if we care!

If that’s the only way to gain participation for big companies so that they would actually support the cause, why not? Don’t we all use each other at some point in time?

Make sense?

Saya Main VolleyBall

Been a while since i lepak with the Koma'ites, and signing up for a Saturday volley seems like a good idea at the time, not until i realised on Friday when it is ... for TOMORROW! So there i was dreading about the fact i have eagerly said yes, when I have a wedding in Taiping and a BAKTI session on the same day. Geezz....

But anyway, it was fun. I learned the right skill to volley, and i had good team mates. Way to go girls!

Girls after the game. Oh well, we lost two games (we only played two), but what the heck, it was all for the fun of it.

Showing off our hand after the hard volley. Look at the merah-ness of the hand.... Cool...

Another adventure.. till later.

Another Lazy Sunday

Loneliness creeps in.

I can see glimpse and shadowy figures moving about, listening to the noises from the many wide acoustic blast, and the loud bang on the walls from nearby residence, the honk and drift from the traffic out the window, yet I feel lonely.

I blame others for my own misfortune yet I seldom act upon them.
Now I found another scapegoat to relish my trapped anger, and he willingly accepts it. I am not too sure when he would actually stop to tolerate any of this anymore, and choose turn and walk away. It’s probably the PMS I’m having, but then again, it’s been going on for the past 2 months already!

Oh well, Sundays are supposed to be those lazy Sunday. Cut the crap Suhana. Enjoy the rest of your lazy Sunday!