KUALA LUMPUR (Feb 24): The roll-out of dual-class shares on Bursa Malaysia and capital gains tax on disposal of non-listed shares announced in the revised Budget 2023 may aid in reinvigorating the local capital market, MIDF Research said.
Touching on Putrajaya’s intent to review the implementation of a low-rate capital gains tax on the disposal of non-listing shares, the research house said the measure may attract more listings on the local bourse at the granular level.
“Moreover, the Securities Commission (SC) would facilitate more secondary markets for private market instruments to improve liquidity and enable better price discovery,” it said in a statement on Friday (Feb 24).
When tabling the revised Budget 2023, Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim shared that the government plans to study the introduction of the capital gains tax at a low rate in 2024.
Coupled with the government’s proposal to allow the listing of dual-class shares on the local bourse to encourage the listing of high-growth technology companies, MIDF said the two measures may act as catalysts that would help to reinvigorate the local capital market.
Meanwhile, MIDF dubbed the government’s effort to increase high-impact investments and foreign direct investment (FDI) via various incentives such as relocation incentives to attract affected electrical and electronic (E&E) and aerospace sector investors as commendable.
“Measures focusing on science, technology and innovation can be seen as necessary to ensure that Malaysia’s economy remains competitive,” it added.
Jump in development expenditure a pleasant surprise While MIDF noted that it was unsurprised that the revised budget remains expansionary, it did say that it was pleasantly surprised by the significant increase in gross development expenditure (DE) to RM97 billion from RM71.6 billion in 2022.
The previous administration's Budget 2023 allocated RM95 billion for development expenditure.
“Much of the DE is allocated for the economic sector at RM55 billion with the transport sub-sector receiving the highest allocation with RM17.6 billion,” the MIDF noted.
The research house added that it sees the development of the nation’s infrastructure as necessary to improve connectivity and spur economic activities.
The Unity Government’s proposed Budget 2023 totals RM388.1 billion, of which RM289.1 billion is allocated for operating expenditure and RM99 billion for development expenditure — including RM2 billion in contingency savings.
Commenting on the budget, MIDF group managing director Datuk Charon Wardini Mokhzani described the revised Budget 2023 as an “inclusive, future-oriented budget” which reflects the values of Malaysia Madani as the country works together to build a progressive and prosperous nation while tackling fiscal and inflationary pressures.
“In line with the Malaysia Madani concept, MIDF is thrilled to be playing our part in maximising the outcomes as well as economic and social returns the initiatives in Budget 2023 envisions, and generating lasting value for our stakeholders,” Charon said.
A “Peter-to-Paul” Budget Retabled Budget 2023 sets more aggressive fiscal deficit targets for 2023-25, via a combination of personal tax rates rebalancing, broadening of indirect taxes and tighter spending – as expected, GST and fuel subsidy rollbacks did not feature. Equity market read-through is positive given absence of levies and GST/subsidy changes, and more disciplined fiscal approach.
CoinGecko https://www.coingecko.com › coins Zetrix Price: ZTX Live Price Chart & News Zetrix is an upcoming cryptocurrency and its price is currently unavailable. Market data will be available soon and 22 users have
the buzz around MyEG has been related to the potential of blockchain technology. Early last month, MyEG and Mimos Technology Solutions Sdn Bhd (MTS) agreed to team up to look into developing a national public blockchain. They plan to do this using MyEG’s blockchain platform, Zetrix, and Mimos blockchain technology as the components of the Malaysia BlockChain Technology, which is a key element of the government’s National Blockchain Roadmap launched on Aug 9.
Zetrix can provide multi-pronged revenue streams to fuel MyEG’s earnings growth, according to UOB Kay Hian Research. The research house says in an Oct 7 report: “Zetrix can generate earnings for MyEG via [an] initial coin offering (ICO), charging gas fees, service fees per credentials/contract for its verifiable credentials and e-signing services, and annual fees for its blockchain-based identifiers. We had previously assessed that Zetrix’s services could produce annual revenues of more than RM650 milion from these revenue streams, excluding ICO proceeds of RM210 million to RM420 million.”
UOB Kay Hian Research has listed MyEG as one of its top growth-stocks-at-a-reasonable-price picks. “MyEG is a standout in that earnings could well beat 2023/24 street expectations, should its blockchain platform Zetrix gain significant traction in facilitating cross-border trades with China, linked via China’s digital yuan platform,”.
Digitalisation and automation RM1 billion in funds under Bank Negara Malaysia (BNM) to help micro, small and medium enterprises (SMEs) automate their processes to digitalise their businesses. RM100 million under the SME digitalisation scheme will be used to fund matching grants of up to RM5,000 to SMEs subscribing to apps to digitalise their businesses, such as point-of-sales systems, accounts or inventory management. Govt to provide RM50 million in matching grants to encourage automation of plantation sector through use of robotics and artificial intelligence. Govt to accelerate implementation of Jendela project as a national effort to provide internet network facilities. RM725 million to implement digital connectivity in 47 industrial areas and nearly 3,700 schools.
MyEG managing director T. S. Wong believed that schools in the future would use AR systems to enhance the learning experience.
“In this regard, we are excited to work with the leading AR education systems provider, leaders in the AI sector like iFlytek and leaders in the education sector like Tsinghua Group to shape the classrooms of tomorrow,” he said.
MyEG’s portfolio of investments also include a variety of technology businesses, including FashionValet, Agmo Studio and Stampede Solution
Zetrix blockchain needs crypto coins as gas fee .. wait till zetrix crypto coin is launched ... No hurry to sell.. wait for it to return to pre attack price at least...
Patience pays in investment e.g. cypark, etc.
It is profitable, sunrise digital industry, growing by leap n bound e.g. spinoff startup like agmo, in Philippines, Indonesia & Bangladesh and tie up and investment in reputable tech companies in China and many more
@charlie chia
Good123 Recently down to 57 CTS, hv you bought any Further what is your TP How You intend to keep it
UOBKH had previously assessed that Zetrix’s services could produce annual revenues of more than RM650 milion from these revenue streams, excluding ICO proceeds of RM210 million to RM420 million.”
KUALA LUMPUR (Feb 26): The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract is likely to be supported above 1,450 next week, in line with the tabling of Budget 2023 on Friday (Feb 24), barring any unforeseen negative factors from the Wall Street, Malacca Securities said.
Good123 is SSlee, investors better be aware. Below are some of his recent posts.
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Sslee
761 posts
Posted by Sslee > 2 days ago | Report Abuse
I already cut loss all my HY except 500 units to qualify myself as shareholder. So no harm done, just learn my lesson again never trust mainland china man.
Sslee
761 posts
Posted by Sslee > 1 week ago | Report Abuse
I do not know how to write a good investment article. So please do not took my article as an investment articles.
Sslee
761 posts
Posted by Sslee > 3 days ago | Report Abuse
I make a big mistake on HRC Q3 result because I can't understand why HRC bought their crude at premium of USD30 above Brent Crude public price and on hedging loses.
Overpaid high crude premium that resulted in average USD 136.45 per barrel in Q3 (HRC is welcome to correct my calculation) when average Dated Brent dropped to USD 101 per barrel in Q3 and thus resulting in Q3 PBT of negative RM 894,141,000
So Philip mind telling us what is your mistake on your predictions that the next 4 quarters pchem will make 1 billion in net profit at LEAST
Dec 31, 2022 12:52 AM | Report Abuse I guess people who only have half a formula should snap stop posting a formula in how to "guarantee" hengyuan will make huge money in the quarter?
If we are making predictions, I can also say that the next 4 quarters pchem will make 1 billion in net profit at LEAST, guaranteed. Seems much more likely to happen than hy making hundreds of millions.
12,305 Cryptocurrency in this cryptocurrency exchange alone. How far can this programme be successful? Moreover it is still in the very early stage. THINK AGAIN!
5 Upcoming ICO - New Crypto Projects Of February 2023 This list will guide you in your quest to find the next big thing. So, sit back, grab your popcorn, and let's get ready to explore the world of ICOs.
Upcoming ICO
Updated: 13 Feb 2023 2:34 pm
Get ready for the ultimate ICO experience! With new ICOs popping up all the time, it can be overwhelming trying to determine which ones are worth investing in. That's why we've put in the hard work for you and handpicked the most premium quality upcoming ICOs for February 2023. Our team of experts has considered all the factors and spent countless hours researching to bring you this exclusive list of the best of the best. Whether you're a seasoned crypto investor or a newcomer to the game, this list will guide you in your quest to find the next big thing. So, sit back, grab your popcorn, and let's get ready to explore the world of ICOs!
5 Upcoming ICOs in February 2023 yPredict : Advanced financial predictions through AI/ML and alternative data FightOut: Revolutionizing fighting sports through blockchain technology SOLA-X: Decentralized platform solving liquidity provider pain points C+ Charge: Revolutionizing the EV charging industry with a comprehensive ecosystem MemoryDAO: Play-to-earn blockchain gaming experience with MDAO tokens
Cash cow is coming ... Bull run bagi myeg... Sabar bro!
Zetrix can generate earnings for MyEG via [an] initial coin offering (ICO), charging gas fees, service fees per credentials/contract for its verifiable credentials and e-signing services, and annual fees for its blockchain-based identifiers. We had previously assessed that Zetrix’s services could produce annual revenues of more than RM650 milion from these revenue streams, excluding ICO proceeds of RM210 million to RM420 million.”
UOB Kay Hian Research has listed MyEG as one of its top growth-stocks-at-a-reasonable-price picks. “MyEG is a standout in that earnings could well beat 2023/24 street expectations, should its blockchain platform Zetrix gain significant traction in facilitating cross-border trades with China, linked via China’s digital yuan platform
Gas fee for using myeg blockchain? Apparently the popularity is very limited. It is more secure and convenient to use Alipay, WeChat Pay ,UnionPay or others for multiple purchases of goods and services.
Gas fee for using myeg blockchain? Apparently the popularity is very limited. It is more secure and convenient to use Alipay, WeChat Pay ,UnionPay or others for multiple purchases of goods and services.
4 minutes ago
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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. > 2023-02-25 02:24 | Report Abuse
bitcoin?? Blockchain?? Naaiieehh..