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2021-03-02 21:17 | Report Abuse
https://youtu.be/REZvlZsZZNQ
China approved the used of Cansino vaccine
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2021-03-02 00:01 | Report Abuse
3. DNEX [HIGH RISK]
Proposed entry: RM 0.77 [buy on breakout]
Support/stop loss: RM 0.72, RM 0.70 areas
Resistance: RM 0.77, RM 0.80, RM 0.835, RM 0.88, RM 0.92, RM 1 areas
This is a very resilient stock that refused to break below RM 0.655. It's very well supported and should be in Elliot's 5th wave now. I am waiting for a breakout from its RM 0.77 resistance to retest its previous RM 0.835 high and continue to rally towards the RM 1 region.
This stock can breakout anytime as it has been consolidating at a very high volume around the RM 0.70 region. You can enter on a breakout from its RM 0.77 resistance and TP along the resistance areas with RM 0.72 or RM 0.70 depending on your risk appetite.
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2021-03-01 00:59 | Report Abuse
https://youtu.be/REZvlZsZZNQ
China has approved Cansino
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2021-02-24 19:43 | Report Abuse
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2021-02-24 19:41 | Report Abuse
https://www.marketwatch.com/story/hong-kong-slaps-30-tax-hike-on-share-trading-2021-02-24
The whole Asian market fell
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2021-02-22 17:27 | Report Abuse
If we want to convert the warrant to the mother share, when would you do it. Though last day is 30 July
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2020-12-29 00:17 | Report Abuse
MALAYSIA
Strategy
The country is spending US$504 million to buy enough shots to cover 26.5 million people, or about 80% of its population.
Malaysia is set to secure 6.4 million doses of the AstraZeneca vaccine through the Covax facility, and another 6.4 million directly, enough to inoculate 20% of the country’s population, according to Science and Technology Minister Khairy Jamaluddin. The first batch is expected in the second quarter of 2021
The government is also in final negotiations with China’s Sinovac for 14 million doses, CanSino Biologics for 3.5 million doses, and for 6.4 million shots of Russia’s Sputnik V vaccine, Khairy said. The deals will involve local companies that can provide fill-finish manufacturing capacity for the vaccines, he said
The nation is in talks with Moderna and Johnson & Johnson, Khairy said.
Malaysia will conduct its first Covid-19 vaccine trial in December as part of a government-to-government agreement with China. It will be a phase-III trial on a vaccine candidate developed by the Institute of Medical Biology Chinese Academy of Medical Sciences
Malaysia signed an MoU with China in October to be given priority access to Covid-19 vaccines that China develops.
Timeline
1Q 2021: Pfizer
The government has already secured 12.8 million doses from Pfizer-BioNTech SE in a deal signed last month
Pfizer will deliver to Malaysia one million doses in the first quarter of 2021, 1.7 million in the second, 5.8 million in the third and 4.3 million in the final three months of the year
The agreement with Pfizer covers 6.4 million people and is contingent on the vaccine being approved by the US FDA and Malaysia’s regulator
Malaysia has negotiated with Pfizer an option to boost its purchases to cover another 20% of its population
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2020-12-24 23:53 | Report Abuse
KUALA LUMPUR (Dec 24): Lambo Group Bhd has proposed to undertake a private placement of up to 775.06 million shares to raise as much as RM24.8 million, which will mainly be used for its wine business.
In a filing with Bursa Malaysia today, the group said the placement shares representing 20% of the total number of issued shares would be undertaken by a third-party investor to be identified later, while the issue price will also be determined later.
The placement shares will not be priced at a more than 10% discount to the five day volume weighted average market price of Lambo shares up to and including the last trading day immediately preceding the price-fixing date.
The company said for illustration purposes, based on an issue price of 32 sen per share, the placement shares could raise up to RM24.8 million.
Of this amount, RM10 million will be allocated to procurement of inventory of wine, RM5 million will be used for marketing and promotional activities, RM4 million for setting up of a new warehouse to store wine inventory, RM3 million for its working capital and RM2 million for development of a new platform to launch a specialised e-commerce platform for the wine business.
The proposed private placement is expected to be completed by the first quarter of 2021.
Shares in Lambo closed unchanged at 3.5 sen, valuing the group at RM135.64 million. It saw some 9.01 million shares change hands.
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2020-12-24 05:09 | Report Abuse
PUTRAJAYA (Dec 23): The Ministry of Health (MoH) is seeking to reduce the time needed to evaluate the safety and efficacy of the Covid-19 vaccine produced by US pharmaceutical giant Pfizer to less than 90 days, so a conditional approval for the drug may be granted before next March.
In normal circumstances, just the first phase of the five-phase evaluation process — which involves going through the documentation of the vaccine development process — may take between 90 and 120 days, said Health director-general Tan Sri Dr Noor Hisham Abdullah.
Evaluation of the vaccine has already started as the first scientific documents, also known as dossier, for its registration were received by the National Pharmaceutical Regulatory Agency (NPRA) on Dec 15, he said.
"So we will try our best to carry out the processes that have been identified so that we can reduce the time for us to conditionally register the vaccine within a period of less than 90 days.
"If everything is in order, maybe we will be able to conditionally approve the vaccine before March," he told reporters during the daily MoH Covid-19 press conference today.
Conditional approval with rolling submissions
A conditional approval means the vaccine will be allowed to be administered in Malaysia but with monitoring by the ministry for a period of one year, said Noor Hisham.
Pfizer will also be bound by the practice of "rolling submissions", meaning the company is required to continue submitting the latest data from its clinical trials for the NPRA to continuously review them.
"The company will have to submit their latest data for us to examine whether they are effective in cases with mutations [in the coronavirus], and whether there are complications or side effects and so on. So we will monitor adverse events following immunisation," Noor Hisham said.
By granting the conditional approval, Noor Hisham said the ministry may still override its decision, based on the latest data it reviews from the administration of the vaccine.
On Nov 24, the government, through the MoH, signed a preliminary purchasing agreement with Pfizer to obtain 12.8 million doses of its Covid-19 vaccine to meet the immunisation needs of 20% or 6.4 million Malaysians.
Under this agreement, Pfizer has pledged to deliver one million doses of its vaccine in the first quarter of 2021, 1.7 million doses in the second quarter, 5.8 million doses in the third quarter, and 4.3 million doses in the final quarter.
The Malaysian government has also inked an agreement with the United Kingdom's AstraZeneca to purchase its Covid-19 vaccine to meet the immunisation needs of 20% of the people in the country.
This is Malaysia's third agreement after the government signed with Covax to buy 10% of its vaccine needs and with Pfizer to cover 20% of Malaysia's requirements last month.
Prime Minister Tan Sri Muhyiddin Yassin has also said the government is in the final stages of negotiation with Sinovac, CanSino and Gamaleya to secure the supply of vaccines to more than 80% of the country's population.
Stock
2020-12-24 05:08 | Report Abuse
PUTRAJAYA (Dec 23): The Ministry of Health (MoH) is seeking to reduce the time needed to evaluate the safety and efficacy of the Covid-19 vaccine produced by US pharmaceutical giant Pfizer to less than 90 days, so a conditional approval for the drug may be granted before next March.
In normal circumstances, just the first phase of the five-phase evaluation process — which involves going through the documentation of the vaccine development process — may take between 90 and 120 days, said Health director-general Tan Sri Dr Noor Hisham Abdullah.
Evaluation of the vaccine has already started as the first scientific documents, also known as dossier, for its registration were received by the National Pharmaceutical Regulatory Agency (NPRA) on Dec 15, he said.
"So we will try our best to carry out the processes that have been identified so that we can reduce the time for us to conditionally register the vaccine within a period of less than 90 days.
"If everything is in order, maybe we will be able to conditionally approve the vaccine before March," he told reporters during the daily MoH Covid-19 press conference today.
Conditional approval with rolling submissions
A conditional approval means the vaccine will be allowed to be administered in Malaysia but with monitoring by the ministry for a period of one year, said Noor Hisham.
Pfizer will also be bound by the practice of "rolling submissions", meaning the company is required to continue submitting the latest data from its clinical trials for the NPRA to continuously review them.
"The company will have to submit their latest data for us to examine whether they are effective in cases with mutations [in the coronavirus], and whether there are complications or side effects and so on. So we will monitor adverse events following immunisation," Noor Hisham said.
By granting the conditional approval, Noor Hisham said the ministry may still override its decision, based on the latest data it reviews from the administration of the vaccine.
On Nov 24, the government, through the MoH, signed a preliminary purchasing agreement with Pfizer to obtain 12.8 million doses of its Covid-19 vaccine to meet the immunisation needs of 20% or 6.4 million Malaysians.
Under this agreement, Pfizer has pledged to deliver one million doses of its vaccine in the first quarter of 2021, 1.7 million doses in the second quarter, 5.8 million doses in the third quarter, and 4.3 million doses in the final quarter.
The Malaysian government has also inked an agreement with the United Kingdom's AstraZeneca to purchase its Covid-19 vaccine to meet the immunisation needs of 20% of the people in the country.
This is Malaysia's third agreement after the government signed with Covax to buy 10% of its vaccine needs and with Pfizer to cover 20% of Malaysia's requirements last month.
Prime Minister Tan Sri Muhyiddin Yassin has also said the government is in the final stages of negotiation with Sinovac, CanSino and Gamaleya to secure the supply of vaccines to more than 80% of the country's population.
Stock
2020-12-24 05:08 | Report Abuse
PUTRAJAYA (Dec 23): The Ministry of Health (MoH) is seeking to reduce the time needed to evaluate the safety and efficacy of the Covid-19 vaccine produced by US pharmaceutical giant Pfizer to less than 90 days, so a conditional approval for the drug may be granted before next March.
In normal circumstances, just the first phase of the five-phase evaluation process — which involves going through the documentation of the vaccine development process — may take between 90 and 120 days, said Health director-general Tan Sri Dr Noor Hisham Abdullah.
Evaluation of the vaccine has already started as the first scientific documents, also known as dossier, for its registration were received by the National Pharmaceutical Regulatory Agency (NPRA) on Dec 15, he said.
"So we will try our best to carry out the processes that have been identified so that we can reduce the time for us to conditionally register the vaccine within a period of less than 90 days.
"If everything is in order, maybe we will be able to conditionally approve the vaccine before March," he told reporters during the daily MoH Covid-19 press conference today.
Conditional approval with rolling submissions
A conditional approval means the vaccine will be allowed to be administered in Malaysia but with monitoring by the ministry for a period of one year, said Noor Hisham.
Pfizer will also be bound by the practice of "rolling submissions", meaning the company is required to continue submitting the latest data from its clinical trials for the NPRA to continuously review them.
"The company will have to submit their latest data for us to examine whether they are effective in cases with mutations [in the coronavirus], and whether there are complications or side effects and so on. So we will monitor adverse events following immunisation," Noor Hisham said.
By granting the conditional approval, Noor Hisham said the ministry may still override its decision, based on the latest data it reviews from the administration of the vaccine.
On Nov 24, the government, through the MoH, signed a preliminary purchasing agreement with Pfizer to obtain 12.8 million doses of its Covid-19 vaccine to meet the immunisation needs of 20% or 6.4 million Malaysians.
Under this agreement, Pfizer has pledged to deliver one million doses of its vaccine in the first quarter of 2021, 1.7 million doses in the second quarter, 5.8 million doses in the third quarter, and 4.3 million doses in the final quarter.
The Malaysian government has also inked an agreement with the United Kingdom's AstraZeneca to purchase its Covid-19 vaccine to meet the immunisation needs of 20% of the people in the country.
This is Malaysia's third agreement after the government signed with Covax to buy 10% of its vaccine needs and with Pfizer to cover 20% of Malaysia's requirements last month.
Prime Minister Tan Sri Muhyiddin Yassin has also said the government is in the final stages of negotiation with Sinovac, CanSino and Gamaleya to secure the supply of vaccines to more than 80% of the country's population.
Stock
2020-12-24 05:05 | Report Abuse
PUTRAJAYA (Dec 23): Malaysia had opted for the Covid-19 vaccine produced by United Kingdom (UK) pharmaceutical company AstraZeneca through negotiations under the COVAX facility that will ensure supply for another 10% of the country’s population.
Science, Technology and Innovation Minister Khairy Jamaluddin said this will see supply from AstraZeneca increase to 20% after an earlier procurement of 10%through direct negotiation with the company.
“AstraZeneca’s delivery of the vaccine through COVAX is being finalised but we have been told it is between March and June next year.
“Through the direct negotiation, meanwhile, (Malaysia) will receive the first shipment in April or May 2021,” he told a media conference on the development to procure Covid-19 vaccines here today.
Malaysia previously joined the COVAX facility under the ‘Optional Purchase Arrangement’ agreement which allows the government to select vaccine-manufacturing companies that participate in COVAX to obtain supplies for 10% of the country's population.
Khairy, who is also the co-chairman of the Covid-19 Vaccine Supplies Access Guarantee Special Committee (JKJAV), said the Government had also consulted with pharmaceutical company Pfizer on the option of adding another 20% vaccine supply if needed.
“The reason why (is) because in the United States only two types of vaccines have been approved, which are Pfizer and Moderna and we know it is a sure thing,” he said.
Khairy said Malaysia had previously finalised the supply agreement for 12.8 million doses of COVID-19 vaccine produced by Pfizer which is expected to arrive in the country in stages from February 2021.
On the new mutation of the COVID-19 virus in the UK, he said Pfizer was monitoring the effectiveness of its vaccine and needed six weeks to make changes if it is found to be less effective against the new strain.
Khairy said the Government was also in the final stages of negotiations with three other COVID-19 vaccine manufacturing companies, Sinovac and CanSinoBIO from China and the Gamaleya National Centre from Russia, provided those companies could add value to the country's vaccine development.
"This includes carrying out the fill-finish (bottling) process, so we buy the vaccine in bulk, bring it here and the bottling is done here. This is an important process before we have the capacity to carry out the entire vaccine development process," he said.
Khairy said the Government was also looking at companies which could forge partnerships in research and development (R&D) as well as technology transfer with local companies.
He said the Government is negotiating for access to 14 million doses of COVID-19 vaccine from Sinovac and 6.4 million doses from Gamaleya, both of which are two-dose vaccines, while the agreement with CanSinoBIO involves 3.5 million single-dose vaccines.
Overall, Khairy said all the agreements would cover 82.8% of Malaysia's population, involving a total cost of RM2.05 billion.
On Malaysia's delay in getting the COVID-19 vaccine compared with some countries such as Singapore and Canada, he said the country's financial position was not on par with other developed countries.
“No company can provide 100% supply to Malaysia because developed countries bought (the vaccines) earlier than us as they can offer more and they can make decisions because their budgets are much bigger than ours.
“Canada, for example, has bought enough vaccines to give to its people five times over. They have 500% population coverage. Our pockets are not that deep," he said.
Stock
2020-12-24 05:04 | Report Abuse
PUTRAJAYA (Dec 23): Malaysia had opted for the Covid-19 vaccine produced by United Kingdom (UK) pharmaceutical company AstraZeneca through negotiations under the COVAX facility that will ensure supply for another 10% of the country’s population.
Science, Technology and Innovation Minister Khairy Jamaluddin said this will see supply from AstraZeneca increase to 20% after an earlier procurement of 10%through direct negotiation with the company.
“AstraZeneca’s delivery of the vaccine through COVAX is being finalised but we have been told it is between March and June next year.
“Through the direct negotiation, meanwhile, (Malaysia) will receive the first shipment in April or May 2021,” he told a media conference on the development to procure Covid-19 vaccines here today.
Malaysia previously joined the COVAX facility under the ‘Optional Purchase Arrangement’ agreement which allows the government to select vaccine-manufacturing companies that participate in COVAX to obtain supplies for 10% of the country's population.
Khairy, who is also the co-chairman of the Covid-19 Vaccine Supplies Access Guarantee Special Committee (JKJAV), said the Government had also consulted with pharmaceutical company Pfizer on the option of adding another 20% vaccine supply if needed.
“The reason why (is) because in the United States only two types of vaccines have been approved, which are Pfizer and Moderna and we know it is a sure thing,” he said.
Khairy said Malaysia had previously finalised the supply agreement for 12.8 million doses of COVID-19 vaccine produced by Pfizer which is expected to arrive in the country in stages from February 2021.
On the new mutation of the COVID-19 virus in the UK, he said Pfizer was monitoring the effectiveness of its vaccine and needed six weeks to make changes if it is found to be less effective against the new strain.
Khairy said the Government was also in the final stages of negotiations with three other COVID-19 vaccine manufacturing companies, Sinovac and CanSinoBIO from China and the Gamaleya National Centre from Russia, provided those companies could add value to the country's vaccine development.
"This includes carrying out the fill-finish (bottling) process, so we buy the vaccine in bulk, bring it here and the bottling is done here. This is an important process before we have the capacity to carry out the entire vaccine development process," he said.
Khairy said the Government was also looking at companies which could forge partnerships in research and development (R&D) as well as technology transfer with local companies.
He said the Government is negotiating for access to 14 million doses of COVID-19 vaccine from Sinovac and 6.4 million doses from Gamaleya, both of which are two-dose vaccines, while the agreement with CanSinoBIO involves 3.5 million single-dose vaccines.
Overall, Khairy said all the agreements would cover 82.8% of Malaysia's population, involving a total cost of RM2.05 billion.
On Malaysia's delay in getting the COVID-19 vaccine compared with some countries such as Singapore and Canada, he said the country's financial position was not on par with other developed countries.
“No company can provide 100% supply to Malaysia because developed countries bought (the vaccines) earlier than us as they can offer more and they can make decisions because their budgets are much bigger than ours.
“Canada, for example, has bought enough vaccines to give to its people five times over. They have 500% population coverage. Our pockets are not that deep," he said.
Stock
2020-12-24 05:03 | Report Abuse
PUTRAJAYA (Dec 23): Malaysia had opted for the Covid-19 vaccine produced by United Kingdom (UK) pharmaceutical company AstraZeneca through negotiations under the COVAX facility that will ensure supply for another 10% of the country’s population.
Science, Technology and Innovation Minister Khairy Jamaluddin said this will see supply from AstraZeneca increase to 20% after an earlier procurement of 10%through direct negotiation with the company.
“AstraZeneca’s delivery of the vaccine through COVAX is being finalised but we have been told it is between March and June next year.
“Through the direct negotiation, meanwhile, (Malaysia) will receive the first shipment in April or May 2021,” he told a media conference on the development to procure Covid-19 vaccines here today.
Malaysia previously joined the COVAX facility under the ‘Optional Purchase Arrangement’ agreement which allows the government to select vaccine-manufacturing companies that participate in COVAX to obtain supplies for 10% of the country's population.
Khairy, who is also the co-chairman of the Covid-19 Vaccine Supplies Access Guarantee Special Committee (JKJAV), said the Government had also consulted with pharmaceutical company Pfizer on the option of adding another 20% vaccine supply if needed.
“The reason why (is) because in the United States only two types of vaccines have been approved, which are Pfizer and Moderna and we know it is a sure thing,” he said.
Khairy said Malaysia had previously finalised the supply agreement for 12.8 million doses of COVID-19 vaccine produced by Pfizer which is expected to arrive in the country in stages from February 2021.
On the new mutation of the COVID-19 virus in the UK, he said Pfizer was monitoring the effectiveness of its vaccine and needed six weeks to make changes if it is found to be less effective against the new strain.
Khairy said the Government was also in the final stages of negotiations with three other COVID-19 vaccine manufacturing companies, Sinovac and CanSinoBIO from China and the Gamaleya National Centre from Russia, provided those companies could add value to the country's vaccine development.
"This includes carrying out the fill-finish (bottling) process, so we buy the vaccine in bulk, bring it here and the bottling is done here. This is an important process before we have the capacity to carry out the entire vaccine development process," he said.
Khairy said the Government was also looking at companies which could forge partnerships in research and development (R&D) as well as technology transfer with local companies.
He said the Government is negotiating for access to 14 million doses of COVID-19 vaccine from Sinovac and 6.4 million doses from Gamaleya, both of which are two-dose vaccines, while the agreement with CanSinoBIO involves 3.5 million single-dose vaccines.
Overall, Khairy said all the agreements would cover 82.8% of Malaysia's population, involving a total cost of RM2.05 billion.
On Malaysia's delay in getting the COVID-19 vaccine compared with some countries such as Singapore and Canada, he said the country's financial position was not on par with other developed countries.
“No company can provide 100% supply to Malaysia because developed countries bought (the vaccines) earlier than us as they can offer more and they can make decisions because their budgets are much bigger than ours.
“Canada, for example, has bought enough vaccines to give to its people five times over. They have 500% population coverage. Our pockets are not that deep," he said.
Stock
2020-12-23 19:49 | Report Abuse
KUALA LUMPUR (Dec 23): The government has no plans to impose a windfall profit levy on rubber glove manufacturers that are enjoying supernormal profits from the higher demand and selling price of rubber gloves worldwide nor to other businesses that have profited greatly due to the Covid-19 pandemic, according to the Ministry of Finance (MoF).
Deputy Finance Minister II Mohd Shahar Abdullah said introducing a windfall profit levy could give a negative perception to investors that the government is taking advantage of the supernormal profits generated by companies following the global health crisis.
“The windfall profit tax is only presently levied on the palm oil commodity based on the monthly market price threshold of crude palm oil issued by the Malaysian Palm Oil Board.
"The windfall profit tax has never been imposed on consumer finished goods or local manufactured goods such as rubber gloves because it is difficult to determine a uniform market price threshold, given that rubber glove products have different types, standards, specifications and grades according to the respective countries marketed," he said at the Dewan Negara today.
Mohd Shahar said this in response to a question from Senator Balasubramaniam Nachiappan, who wanted to know whether the government will introduce a windfall profit levy, especially to corporates that had made supernormal profits during the pandemic such as Top Glove Corp Bhd and others, that will benefit the country and society.
Mohd Shahar said although the windfall profit tax was not levied, the rubber glove manufacturing industry also contributed to the spillover effect on the national economy in terms of direct and indirect taxes, especially the companies' increasing income tax, as well as continuing to provide jobs during the Covid-19 crisis.
"Besides that, as announced in Budget 2021, major glove manufacturers will also contribute RM400 million for the purpose of combating Covid-19, including covering part of the cost of the vaccine and the cost of health equipment peripherals,” he said.
For more Parliament stories, click here.
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2020-12-23 19:47 | Report Abuse
KUALA LUMPUR (Dec 23): The government has no plans to impose a windfall profit levy on rubber glove manufacturers that are enjoying supernormal profits from the higher demand and selling price of rubber gloves worldwide nor to other businesses that have profited greatly due to the Covid-19 pandemic, according to the Ministry of Finance (MoF).
Deputy Finance Minister II Mohd Shahar Abdullah said introducing a windfall profit levy could give a negative perception to investors that the government is taking advantage of the supernormal profits generated by companies following the global health crisis.
“The windfall profit tax is only presently levied on the palm oil commodity based on the monthly market price threshold of crude palm oil issued by the Malaysian Palm Oil Board.
"The windfall profit tax has never been imposed on consumer finished goods or local manufactured goods such as rubber gloves because it is difficult to determine a uniform market price threshold, given that rubber glove products have different types, standards, specifications and grades according to the respective countries marketed," he said at the Dewan Negara today.
Mohd Shahar said this in response to a question from Senator Balasubramaniam Nachiappan, who wanted to know whether the government will introduce a windfall profit levy, especially to corporates that had made supernormal profits during the pandemic such as Top Glove Corp Bhd and others, that will benefit the country and society.
Mohd Shahar said although the windfall profit tax was not levied, the rubber glove manufacturing industry also contributed to the spillover effect on the national economy in terms of direct and indirect taxes, especially the companies' increasing income tax, as well as continuing to provide jobs during the Covid-19 crisis.
"Besides that, as announced in Budget 2021, major glove manufacturers will also contribute RM400 million for the purpose of combating Covid-19, including covering part of the cost of the vaccine and the cost of health equipment peripherals,” he said.
For more Parliament stories, click here.
Stock
2020-12-23 19:46 | Report Abuse
KUALA LUMPUR (Dec 23): The government has no plans to impose a windfall profit levy on rubber glove manufacturers that are enjoying supernormal profits from the higher demand and selling price of rubber gloves worldwide nor to other businesses that have profited greatly due to the Covid-19 pandemic, according to the Ministry of Finance (MoF).
Deputy Finance Minister II Mohd Shahar Abdullah said introducing a windfall profit levy could give a negative perception to investors that the government is taking advantage of the supernormal profits generated by companies following the global health crisis.
“The windfall profit tax is only presently levied on the palm oil commodity based on the monthly market price threshold of crude palm oil issued by the Malaysian Palm Oil Board.
"The windfall profit tax has never been imposed on consumer finished goods or local manufactured goods such as rubber gloves because it is difficult to determine a uniform market price threshold, given that rubber glove products have different types, standards, specifications and grades according to the respective countries marketed," he said at the Dewan Negara today.
Mohd Shahar said this in response to a question from Senator Balasubramaniam Nachiappan, who wanted to know whether the government will introduce a windfall profit levy, especially to corporates that had made supernormal profits during the pandemic such as Top Glove Corp Bhd and others, that will benefit the country and society.
Mohd Shahar said although the windfall profit tax was not levied, the rubber glove manufacturing industry also contributed to the spillover effect on the national economy in terms of direct and indirect taxes, especially the companies' increasing income tax, as well as continuing to provide jobs during the Covid-19 crisis.
"Besides that, as announced in Budget 2021, major glove manufacturers will also contribute RM400 million for the purpose of combating Covid-19, including covering part of the cost of the vaccine and the cost of health equipment peripherals,” he said.
For more Parliament stories, click here.
Stock
2020-12-23 19:41 | Report Abuse
KUALA LUMPUR (Dec 23): The government has no plans to impose a windfall profit levy on rubber glove manufacturers that are enjoying supernormal profits from the higher demand and selling price of rubber gloves worldwide nor to other businesses that have profited greatly due to the Covid-19 pandemic, according to the Ministry of Finance (MoF).
Deputy Finance Minister II Mohd Shahar Abdullah said introducing a windfall profit levy could give a negative perception to investors that the government is taking advantage of the supernormal profits generated by companies following the global health crisis.
“The windfall profit tax is only presently levied on the palm oil commodity based on the monthly market price threshold of crude palm oil issued by the Malaysian Palm Oil Board.
"The windfall profit tax has never been imposed on consumer finished goods or local manufactured goods such as rubber gloves because it is difficult to determine a uniform market price threshold, given that rubber glove products have different types, standards, specifications and grades according to the respective countries marketed," he said at the Dewan Negara today.
Mohd Shahar said this in response to a question from Senator Balasubramaniam Nachiappan, who wanted to know whether the government will introduce a windfall profit levy, especially to corporates that had made supernormal profits during the pandemic such as Top Glove Corp Bhd and others, that will benefit the country and society.
Mohd Shahar said although the windfall profit tax was not levied, the rubber glove manufacturing industry also contributed to the spillover effect on the national economy in terms of direct and indirect taxes, especially the companies' increasing income tax, as well as continuing to provide jobs during the Covid-19 crisis.
"Besides that, as announced in Budget 2021, major glove manufacturers will also contribute RM400 million for the purpose of combating Covid-19, including covering part of the cost of the vaccine and the cost of health equipment peripherals,” he said.
For more Parliament stories, click here.
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2020-09-10 05:58 | Report Abuse
KUALA LUMPUR (Sept 9): Ho Wah Genting Bhd, which has jumped on the COVID-19 bandwagon, is considering appointing Xinkexian (Beijing) Biotechnology Co, Ltd (XKX) as its non-exclusive manufacturer to produce COVID-19 vaccines.
In a filing with Bursa Malaysia today, Ho Wah said its wholly-owned subsidiary HWGB Biotech Sdn Bhd has entered into a Memorandum of Understanding (MoU) with XKX for a possible partnership.
“The MoU aims to appoint XKX as a non-exclusive manufacturer to produce the vaccines upon successful completion of the research and development (R&D) of vaccines, immunological treatment and diagnostic product development in relation to the COVID-19 virus and upon approval from the US Food and Drug Administration,” said Ho Wah.
Based in Anhui province in China, XKX is principally engaged in the R&D of preventive vaccines for human use, manufacture, marketing and sales agent of preventive vaccine.
The group said the MoU is not expected to have any material effect on its earnings, net assets, gearing, share capital and substantial shareholders’ shareholding for the financial year ending Dec 31, 2020.
“Should the business materialise, it is expected to contribute positively to the future earnings of the group,” said Ho Wah.
Shares of Ho Wah Genting closed 9.5 sen or 11.45% lower at 73.5 sen today, valuing the group at RM383.79 million
Read also:
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2020-09-08 18:15 | Report Abuse
Thought HW is involved in test kit for Sabah? Now that Sabah has high covid. Sale should be good
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2020-08-16 21:47 | Report Abuse
@ytthis please add me. Thanks
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2020-08-11 22:22 | Report Abuse
How Would the Polio Vaccine Work in Covid-19?
Here’s the rationale. The oral polio vaccine – a weakened version of the live virus – is expected to trigger a general immune response to any foreign organism. During this time, the body will develop antibodies specific to the pathogen, such as the novel coronavirus, SARS-CoV-2. Researchers theorize that this temporary immune boost could confer a safeguard against viruses for which the vaccine wasn’t initially designed to defend against.
There are advantages to using established vaccines, according to some experts.
“The benefit of redeploying existing therapies and vaccines that mechanistically show promise like the polio vaccine is that there is a track record of safety,” explains Nahid Bhadelia, MD, MALD, medical director of the Special Pathogens Unit, Boston Medical Center.
There is a track record of safety
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2020-08-09 19:57 | Report Abuse
The potential for SEA market a good start.
Test kit is only in Malaysia
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2020-08-09 19:41 | Report Abuse
KUALA LUMPUR, Aug 6 -- Ho Wah Genting Bhd (HWGB), through its wholly-owned subsidiary, HWGB Biotech Sdn Bhd (HWGB Biotech), has signed a Memorandum of Agreement (MoA) with US-based E-MO Biology Inc (EBI) to undertake research on COVID-19 patent applications.
In a statement today, HWGB said EBI, had on June 15, 2020, submitted the Initial Investigational New Drug (IND) application to the United States Food and Drug Administration (FDA) to conduct phase IV clinical trials for a new indication, which proposed the use of existing poliomyelitis virus vaccines (polio vaccines) for prevention of COVID-19, which is currently pending approval.
HWGB chief executive officer Datuk Lim Ooi Hong said the proposed collaboration is expected to contribute positively to the earnings of HWGB upon commercialisation of the vaccines.
"The proposed collaboration will see HWGB investing USD$1 million (RM4.18 million) into EBI, entitling the company to 40 per cent of the total profit from the commercialised vaccine.
"HWGB will also have exclusive rights for the production, distribution and sale of the repurposed vaccine based on the polio vaccine for use in preventing COVID-19 infections in Southeast Asian countries," he said.
In addition, HWGB will have the right to retain all profits from the vaccines, as well as a royalty-free licence together with the granting of sub-licences for the use of the trademark and other intellectual property rights in relation to the vaccines in Southeast Asian countries.
EBI sole director and shareholder Professor Qiyi Xie said by having HWGB Biotech on board, the company would be able to penetrate the SEA countries as soon as the vaccines are made available to the market.
-- BERNAMA
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2021-03-07 05:42 | Report Abuse
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