The Customs Department is introducing a computer system to facilitate implementation of the Goods and Services Tax (GST). The computerisation system, to be known as MyGST, was now being tested, before it would be distributed to the about 300,000 registered traders nationwide.The system is built locally at a cost of about RM100 million.
is another new year 2014 and is near to GST implement date 2015. trial run will be kick off soon. after that the Quarter report sure keep on gain profit...wakakakakkaka
who develop the MYGST for customs ???? GHL ??? Censof ??? Time ??? MYEG ??? ll trader will used the systems recommended by Kastam ...means the developer that does the Kastam IT software will be the better bet ....the Question is WHO ??
MyEG: No award from Customs yet. Will Censof be a big winner on this MyGST?
PETALING JAYA: MyEG Services Bhd’s 40%-owned associate company, My EG Integrated Networks Sdn Bhd (MINT), has completed a pilot customs service tax monitoring (CSTM) system, although it has not yet received the letter of award (LoA) from the Customs Department.
In a filing with Bursa Malaysia yesterday, MyEG clarified: “To date, MyEG has not entered into any legally binding agreement with the Customs Department.”
The company’s clarification was in response to news reports that the company will receive a contract for the government sales tax collection system.
“MyEG will release public announcement should any award of contract be received from the Customs Department,” the company said.
It was also reported that MyEG’s stock price has been on the uptrend after securing government contracts, and traded at a record level. after Customs said it was testing the MyGST system.
To this, MyEG said the Customs Department was testing a holistic new system to facilitate the implementation of the goods and services tax (GST) by April 2015.
It has been reported that the company was the frontrunner to provide the collection system for GST.
A source said MINT was expected to roll out the CSTM system between March and April this year.
The stock price has recorded phenomenal growth, rising more than 260% in the past 52-week period up to close at RM2.86 yesterday.
CIMB analyst Nigel Foo said the CSTM system would cater for GST in the future. “MyEG may extend the CSTM service to the retail sector, after GST is implemented.”
The CSTM system will monitor service tax from restaurant and entertainment outlets by linking 100,000 points-of-sales terminals at 20,000 restaurants and entertainment outlets electronically.
Earlier, MyEG said that the Customs had approved the commencement of the pilot project in Nov 4, 2010 for the online service tax monitoring and that it expected MINT to complete it by December 2013. The total capital expenditure for the CSTM system pilot run is RM100mil.
This Custom's GST CSTM system is totally different from what Censof has to offer. Censof is offering accounting systems while CSTM is a software to monitor point of sales terminals. Please do not get confused by both applications. Happy trading!
This stock needs a major catalyst in order to push to higher than now, probably setting new highs around RM0.70 in near term. Catalysts such as new contracts from corporate clients or from governments. They need to find a way to synergise with TIME to deliver cross-selling products, such as GST softwares, e-payments applications, OBB softwares, etc
Chart analysis shows Bullish after a series of bear run. GST 2015 is 100% confirmed. Rumours hitting strong that Censof is getting something in bag before CNY.
Same here, Govin. I will not do rotational play for this counter by selling up and buying down as I don't want to get caught halfway when there is a huge announcement. It's for long-term hold. Hold and hold and keep accumulating when the price corrects downwards.
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....
koosp
48 posts
Posted by koosp > 2013-12-27 08:56 | Report Abuse
Wait 1 year lah !