KUALA LUMPUR – Former prime minister Datuk Seri Najib Razak (Pekan-BN) is proposing a temporary recovery tax targeted at the wealthy for the next two years in an effort to bolster government coffers.
In his debate of the royal address today, he said Malaysia’s fiscal position is the weakest in Asia Pacific, and second worst in the world after Venezuela.
“I propose a temporary Covid-19 recovery tax package for two years. This, for example, will include a windfall tax, luxury condominiums development tax, stamp duty on transactions, inheritance tax, stock market trading tax, and higher personal income tax on high-income individuals.
“After two years, we can end this temporary tax.”
He also suggested that the government tax tech giants that have a presence in Malaysia, such as Amazon, Netflix, YouTube, Google, and Facebook, which have raked in a lot of profit, but have never been taxed here.
He said this should not impact consumers, and instead be levied on the companies’ profit margin.
“This is not new. Other countries like Australia and Indonesia have demanded payment and they received it from these companies. Malaysia must do the same.”
Meanwhile, he advised Putrajaya to keep up with global trends, particularly the highly lucrative cryptocurrency market.
Najib said that Bitcoin alone is worth nearly US$1 trillion (RM4.16 trillion) and that a few countries such as Switzerland, Australia, Singapore, and South Korea have started to accept the cryptocurrency.
Even though he acknowledged that the Securities Commission has approved four platforms for cryptocurrency trading, he said this initiative must be improved.
“We must give Malaysian investors the opportunity to cooperate with international cryptocurrency trading platforms. This will encourage and make it easier to allow foreign cryptocurrency holders to bring their assets into the country as soon as possible.
“This in turn will allow us to invest in local fiscal assets. Our target should be to bring in cryptocurrency assets instead of allowing an outflow of Malaysian currency into the international market. We must be able to attract international investors.
“If we can do this, we can announce to the world that Malaysia’s back,” said Najib. – The Vibes, September 15, 2021
Don't you guys think it is annoying how a person can take up the space of the entire forum by copy and pasting some unrelated news article. Please help report @stockfreak
"“I propose a temporary Covid-19 recovery tax package for two years. This, for example, will include a windfall tax, luxury condominiums development tax, stamp duty on transactions, inheritance tax, stock market trading tax, and higher personal income tax on high-income individuals. "
Whatever. Don't believe anything you see online. Anyone can easily type anything they like. Forums are mainly for fun only. If it is for something serious, police has to monitor the site every second.
Property plays affected by China Evergrande messy affairs.Evergrande liabilities estimated around app 2 trillion yuan { far wider economic implications } hit by country curb at the start of the pandemic
Newbieinshare.....because it also cheap now, expect Dec QR can be outperform like last time ECOWORLD..... everyone blame ecoworld end up spike up more than 100%....XD
John, just do ur own due d on EWINT. And verify whether it is undervalue or not . Las year I was chit chat with sales gallery staff for two mths to dig out info before bought house there in Apr, and I bought EW shares right after signed spa as I found out many buyers are queuing to sign SPA like me. My friend was laughing at me when I told them I bought EW share. End up now I m smiling to them
Ecowld owns ewint but ewint doesnt own ecowld. So part of ewint earning will flow to ecowld but ecowld earning will not flow to ewint. So if u see ewint good, why not buy its parent share ecowld which can benefit from both local and foreign businesses
Newbie, if everyone invest like u, then all no need to buy GENM, IJMPlant and other good subsi company shares as they all got group holding company. Pls be reminded all these listing company are different entity so they have their own valuation. John is thinking whether EWINT is undervalued as the share price has been remaining low while EW already up almost 100% since las year, so we are talking abt justification of pricing and valuation relatively to share price value, not profit go where and where. Take IJMPlant as subsi of IJMCorp as example, it's share price double due to KLK bought over it's shares but IJMcorp only got mild movement, I am not saying EWINT will be bought over by other players, just to point out there is chances for subsi company to outperform parent holding company assuming it's share price is undervalued while parent company share price already reflect fundamental value.
last time ecoworld supposedly perform well in 2019 but who know covid19 outbreak. Otherwise ecoworld will perform well as what they mentioned last time 2019 was their year. So now, EWINT stated their upcoming completions will generate substantial cash inflow for the EWINT handover of properties sold to customers which mean that their completion done in 3Q21 & 1Q22 imply good result in 4Q21 & 2Q22
23-Sep-2021 Insider ECO WORLD DEVELOPMENT HOLDINGS SDN. BHD. (a substantial shareholder) disposed 200,000 shares on 22-Sep-2021. 23-Sep-2021 Insider ECO WORLD DEVELOPMENT HOLDINGS SDN. BHD. (a substantial shareholder) disposed 1,300,000 shares on 20-Sep-2021. 23-Sep-2021 Insider TAN SRI ABDUL RASHID BIN ABDUL MANAF (a substantial shareholder) disposed 200,000 shares on 22-Sep-2021. 23-Sep-2021 Insider TAN SRI ABDUL RASHID BIN ABDUL MANAF (a substantial shareholder) disposed 1,300,000 shares on 20-Sep-2021. 23-Sep-2021 Insider DATO' LEONG KOK WAH (a substantial shareholder) disposed 200,000 shares on 22-Sep-2021. 23-Sep-2021 Insider DATO' LEONG KOK WAH (a substantial shareholder) disposed 1,300,000 shares on 20-Sep-2021. 23-Sep-2021 Insider TAN SRI ABDUL RASHID BIN ABDUL MANAF (a company director) disposed 200,000 shares on 22-Sep-2021. 23-Sep-2021 Insider TAN SRI ABDUL RASHID BIN ABDUL MANAF (a company director) disposed 1,300,000 shares on 20-Sep-2021. 23-Sep-2021 Insider DATO' LEONG KOK WAH (a company director) disposed 200,000 shares on 22-Sep-2021. 23-Sep-2021 Insider DATO' LEONG KOK WAH (a company director) disposed 1,300,000 shares on 20-Sep-2021.
ewint advantages: 1. Open up in UK & AU 2. Drop in UK & AU covid daily cases 3. Ewint main business in capital of UK & AU 4. Higher sales demand in both countries - despite additional 2% stamp duty for foreign buyers 5. Lower policy rate in UK & AU 6. Company strong effective future revenue - 1.40 bil 7. Strong cash balance, lower gearing 8. Basically 70% projects sold out 9. Higher house price in both countries 10. Weaken in MYR 11. Higher handover sales unit can carry good result for upcoming qr, and next few qr expect can improved significantly 12. Windows dressing in year end 13. BtR development boost the sales 14. 58% units sold/reserved included imcompleted projects
Newbieinshare.......okey geh operating income still improved 15% fo rEWINT...... last time told you go in ecoworld, you always said this counter rubbish....highest price ppl already sold liao lor....LOL
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
stockfreak
777 posts
Posted by stockfreak > 2021-09-16 00:09 | Report Abuse
KUALA LUMPUR – Former prime minister Datuk Seri Najib Razak (Pekan-BN) is proposing a temporary recovery tax targeted at the wealthy for the next two years in an effort to bolster government coffers.
In his debate of the royal address today, he said Malaysia’s fiscal position is the weakest in Asia Pacific, and second worst in the world after Venezuela.
“I propose a temporary Covid-19 recovery tax package for two years. This, for example, will include a windfall tax, luxury condominiums development tax, stamp duty on transactions, inheritance tax, stock market trading tax, and higher personal income tax on high-income individuals.
“After two years, we can end this temporary tax.”
He also suggested that the government tax tech giants that have a presence in Malaysia, such as Amazon, Netflix, YouTube, Google, and Facebook, which have raked in a lot of profit, but have never been taxed here.
He said this should not impact consumers, and instead be levied on the companies’ profit margin.
“This is not new. Other countries like Australia and Indonesia have demanded payment and they received it from these companies. Malaysia must do the same.”
Meanwhile, he advised Putrajaya to keep up with global trends, particularly the highly lucrative cryptocurrency market.
Najib said that Bitcoin alone is worth nearly US$1 trillion (RM4.16 trillion) and that a few countries such as Switzerland, Australia, Singapore, and South Korea have started to accept the cryptocurrency.
Even though he acknowledged that the Securities Commission has approved four platforms for cryptocurrency trading, he said this initiative must be improved.
“We must give Malaysian investors the opportunity to cooperate with international cryptocurrency trading platforms. This will encourage and make it easier to allow foreign cryptocurrency holders to bring their assets into the country as soon as possible.
“This in turn will allow us to invest in local fiscal assets. Our target should be to bring in cryptocurrency assets instead of allowing an outflow of Malaysian currency into the international market. We must be able to attract international investors.
“If we can do this, we can announce to the world that Malaysia’s back,” said Najib. – The Vibes, September 15, 2021