99% Next Monday i think this counter will explode. As i mentioned yesterday that today will gap up which is correctly analyzed. TWO big pusher - QR and EPF buyback.
KUALA LUMPUR (Feb 24): The absence of a prosperity tax in the revised Budget 2023 is deemed a ‘huge relief’ for the corporate sector, says Bursa Malaysia chairman Tan Sri Abdul Wahid Omar.
Abdul Wahid opined that another round of prosperity tax could have potentially shaved off 5%-6% of 2023 earnings for KLCI constituents.
“Without prosperity tax being imposed, analysts have a consensus forecast EPS [earnings per share] growth rate of 20.1% for 2023 compared to -1.3% for 2022. This augurs well for the capital market,” he said in a statement on Friday (Feb 24).
Abdul Wahid also lauded the government’s commitment to an expansionary budget but with long-term financial sustainability and fiscal responsibility by reducing fiscal deficit to 5.0% of gross domestic product in 2023 from 5.6% in 2022 and further to 3.2% in 2025.
“The first step towards any transformation or reform is to admit that we have a problem, to put the constituents on a burning platform for greater sense of urgency and to come up with appropriate solutions,” he said.
Abdul Wahid believes that the targeted budget deficits set by the government for the following years up to 2025 is achievable, by enhancing tax collection effectiveness and plugging leakages as well as broadening the revenue base with reintroduction of tax on luxury goods and capital gains tax on shares in unlisted companies.
“The latter is optimal as it will encourage more unlisted companies to list their shares on the stock exchange and spur growth in the capital market,” he said.
“The enhanced commitment towards nature conservation and sustainable development must also be lauded. Overall an inspiring Budget 2023,” he added.
Get our comprehensive coverage of the revised Budget 2023 here.
Allocation of RM100 million under Digitization Grant Scheme for SMEs and small vendors to support business automation and digitization. Separately, there is a RM1 billion facility under Bank Negara Malaysia (BNM) aimed at incentivising SMEs to automate processes and digitalise operations.
BNM SME Automation and Digitalisation Facility (ADF) 1,100 • Loan rate: Up to 4% per annum (including guarantee fee) • Size: up to RM3 mil • Tenure: up to 10 years
BNM Micro Enterprises Facility (MEF) 200 • Loan Rate: as determined by the financial institution • Size: Micro Enterprises ( i n c l u d i n g p a r t - t i m e workers (gig workers) using digital platforms and self-employed workers): up to RM50k • Tenure: up to 5 years
BNM High Tech and Green Facility (HTG) 1,000 • Loan rate: up to 3.5% per annum (not inclusive guarantee fee); up to 5% per annum (including guarantee fee) • Size: up to RM10 mil • Tenure: up to 10 years
Science, Technology & Innovation 1. Allocation for R&D activities (RM364m) 2. Development and commercialisation of nanotechnology under NanoMalaysia Berhad (RM16m) 3. Research incentive scheme for companies (RM5m) 4. Innovation and technology projects implementation grant under the Malaysian Digital Economy Corporation (RM15m) • Grants up to RM2 mil or assistance up to 50 percent of the project cost, whichever is lower 5. Venture Capital Fund to finance high-tech companies (RM10m) • Electrical and Electronics (E&E) sector • Renewable energy (RE) sector 6. Malaysia Techlympics 2023 Program (RM7m) • To unearth young talents in the field of Artificial Intelligence (AI), robotics, coding, drones and new technologies • Towards achieving a higher world innovation index 7. Extend the intellectual property development tax incentive until 31 December 2025 8. Assistance and support to the Malaysian startup ecosystem (RM50m) 9. DE Rantau: • Addition of 6 new locations (Kuala Lumpur, Melaka, Johor Bahru, Ipoh, Kuching and Kota Kinabalu) • Involve 2,000 short-term accommodations (homestays, chalets, hotels and budget hotels) 10. Digital Innovation Fund to encourage small capital market players to adopt innovative digital solutions under the Securities Commission and Capital Market Development Fund (RM30m) 11. MRANTI Technology Park (RM18m) • MRANTI Technology Park transformation program as a world- class innovation hub • MRANTI as the accreditation body for goods, services and technology by local R&D
Digital Network 1. Jalinan Digital Negara project (JENDELA) Phase 2 (RM8b) • Provide 100% internet coverage in populated areas • Provide fiber optic coverage to 9 mil premises nationwide by 2025 • Improve the quality of existing services • Increase the average speed of mobile broadband to 100 Mbps with 5G implementation across the country • Improve digital connectivity in 47 industrial areas (RM700m) 2. Rural Internet Project by TNB (matching grant RM25m) • Provide high-speed broadband facilities in rural areas, especially those outside of JENDELA coverage • Benefit more than 60k rural residents
3. Digital Nasional Berhad (RM1.3b) • 5G network expansion covering 70% of highly populated areas 4. Service tax exemption until 2025 for online banking or financial services and digital payment services 5. Rural Community Centre (PKD) (RM13m) • Improve LAN network infrastructure in PKD nationwide • Cultivate digital economy among small entrepreneurs
@zetrix_official · Feb 23 Emerging technology is used in decentralized finance to eliminate centralized institutions and third parties from financial transactions. Zetrix_official @zetrix_official · Feb 22 Replying to @zetrix_official ✅ Zetrix cross-chain architecture allows multiple modes of cross-chain technology that support “based on multiple notaries” and various other models.
✅ Our technology supports #isomorphic and heterogeneous cross-chains that enable #smartcontracts and cross-chain operations. Zetrix_official @zetrix_official · Feb 22 Create your Smart contract with #Zetrix: https://ide.zetrix.com
#Blockchain #Layer1 #Web3 #SmartContracts #Devs Zetrix_official Retweeted Friends of MYEG @myegclub · Feb 15 Another step forward in the blockchain revolution!
The first step of Zetrix’s path to become a premier platform for decentralized applications, where industrial use cases like supply chain traceability and finance coexist with the metaverse, has been completed.
In Malaysia, MYEG is the country’s leading digital services provider. To date, MYEG has continued to play a leading role in driving technological change across the region, from online delivery of major government services to diverse commercial offerings across immigration and automotive to healthcare and financial services. MYEG began operations in 2000 as the flagship e-government service provider and continues to play a leading role in driving technological change across the region.
As an international extension of China’s biggest national-level blockchain network, Xinghuo BIF, Zetrix is operating both governmental and commercial applications and is backed at all levels of the Chinese government. Xinghuo BIF’s backbone infrastructure and supernodes outside China are provided by Beijing-based Bubi Technologies, which collaborates with MYEG. Applications, protocols, and networks will be hosted on top of Zetrix’s smart contracts and Proof-of-Stake (PoS) consensus processes on a network of validator nodes.
As one of the first Zetrix-hosted apps, NFT Pangolin from MYEG will include Zetrix-minted NFTs in addition to those already available on the platform. Creators may create and sell their unique crypto-encrypted digital collectibles on NFT Pangolin, a worldwide marketplace for this purpose.
Zetrix will offer lower minting and gas fees than Ethereum, which will allow more artists, both conventional and digital, to explore the possibilities of blockchain and a new platform as a method of presenting and exchanging their work. Zetrix will be a cheaper alternative to Ethereum.
Mr. TS Wong, Group Managing Director of MYEG commented: “As a result, current and future NFT users will be more informed on how the technology may be put to use outside of the creator community, and they will be more likely to take the first steps toward putting it to use in their own real-world goods. It is our goal to serve as a conduit for digital treasures, such as NFTs, to travel freely from one country to the next.”
Tokenization and digitalization of all kinds of value transfer and asset ownership, as well as the growth of the metaverse ecosystem, will benefit greatly from the launch of Zetrix’s mainnet. A number of upcoming Zetrix projects include DeFi, Web 3.0 domain registration, and DAO support (Decentralized Autonomous Organizations).
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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....
Michael R.
4,827 posts
Posted by Michael R. > 2023-02-24 16:32 | Report Abuse
Done TP 0.740 .. if shorties could help... my chance to reenter much2 lower...