Highlights

gloveharicut

Author: gloveharicut   |   Latest post: Wed, 2 Dec 2020, 9:28 AM

 

RHB: Low risk of windfall tax on GLOVES

Author:   |    Publish date:


{{{PM me to join GLOVE Private Discussion Room}}}

I invite you to read my blog and make a smart GLOVE decision.

https://klse.i3investor.com/blogs/gloveharicut/blidx.jsp

 

I am reproducing the The Edge article to my blog.

This post don't have any value added content.

Compile here for my own record.

Please skip if you don't like it.



https://www.theedgemarkets.com/article/rhb-low-risk-windfall-tax-rubber-gove-sector

RHB: Low risk of windfall tax on rubber gove sector

 

KUALA LUMPUR, (Oct 19): RHB Investment Bank Bhd said there is a very low risk of the government imposing a windfall tax on the rubber glove sector.

In a note today, RHB said up to mid-October, there have been no consultations between the authorities and industry representatives to discuss the implementation of such a tax.

Furthermore, unlike a commodity like crude palm oil – where prices are publicly available as the product is generic – there is no standard average selling price (ASP) for gloves, as they come in different types and specifications.

“For example, gloves can be made from nitrile butadiene or natural latex, each with their own cost structures.

“Additionally, clients from different industries – eg healthcare, pharmaceutical, food, and semiconductors – will also require different glove specifications with a wide range of ASPs,” it said.

RHB said the rubber glove industry has been paying corporate taxes and foreign worker levies to the government.

“In line with the higher profits within this sector, we estimate that the tax paid to the government should be at least triple the amount paid during pre-COVID-19 times.

“Lastly, imposing a windfall tax may be counter-productive, as it could encourage local glove makers to adjust their future expansion plans overseas to countries like Thailand and China,” it said.



 

 

Share this

  Be the first to like this.
 


APPS
I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
View Trading Signals and run Live Backtest
MQ Affiliate
Earn rewards with MQ Affiliate Program
 
 

688  397  563  770 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 YONGTAI 0.28+0.11 
 SAPNRG 0.12+0.005 
 BINTAI 1.00+0.155 
 KANGER 0.18+0.01 
 KNM 0.21+0.005 
 TOPBLDS 0.10+0.015 
 TRIVE 0.0150.00 
 ARMADA 0.355+0.035 
 MTRONIC 0.120.00 
 AT 0.185-0.01 

FEATURED POSTS

1. The Equity Market Index Benchmark in Malaysia CMS
2. Trading Scenarios of Derivatives Bursa Derivatives Education Series
3. Derivatives 101 Bursa Derivatives Education Series
4. Why Trade FKLI? Bursa Derivatives Education Series
5. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!
PARTNERS & BROKERS