Toneefa, I bet he will disappear because his number is plucked from the sky. He himself is not confident with his numbers That s why he was repeating it every few minutes trying to re assure for himself.
Haha pjseow, i thought so too. This guy has no balls, and about to lose his kuku too. He kept repeating coz he knows his days are numbered. With 65sen/post, he is trying to earn as much of his nasi lemak money before too late. After the QR out he will disappear into thin air, maybe come back again with a different ID. If he got any dignity at all he should come back as MommyHomeMaker.
41 new Covid-19 cases in S'pore linked to KTV cluster, including passenger on Dream Cruises ship ------------------------------------------------ Singapore pre-opening special cluster. Ibelieve, pls take care if you read this.
Windfall tax on glove makers will send wrong signal to investors: Tengku Zafrul ----------------------------------------------------------------- Tengku Zafrul expressed optimism that Malaysia's 2021 gross domestic product (GDP) would grow within the range of 6.5 per cent to 7.5 per cent as projected by the government.
KUALA LUMPUR: The implementation of a windfall tax on glove companies that have benefited from the pandemic is a non-consistent policy which will a send a wrong signal to investors and shoo them away from investing in the country, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.
He said should the windfall tax be imposed, it would make investors think twice before investing in the country, or even opt to invest in the neighbouring countries like Vietnam and Singapore which do not impose such taxes.
"You can (impose such tax), but you might send a wrong signal, especially for an open economy like Malaysia," he told Bernama after appearing as a guest on Bernama TV's "Ruang Bicara” programme titled "Budget 2021 the Rakyat’s Victory” here Saturday evening.
Tengku Zafrul said policies have to be for the long term and not based on short-term gains.
The government already get windfall taxes from the normal taxes when companies make more profits. Any company which make double , triple or 10 x profits , the government will get.double, triple or 10x more taxes correspondingly . How many windfall taxes the government wants ? How to draw the lines ? Company that make more than 1 billion.per year ? Then.many banks like Maybank , PBB will be subjected to this new additional " windfall " taxes beside the normal 25 % taxes. What message does the government want to send? Malaysia already had 68 % less FDI last year . Does our government want fewer companies to invest in M alaysia ? Will.Jomo.be responsible for lower FDI ?
@monetary check lazada n shopee nitrile medical glove price. they raised the asp alrdy. 14/07/2021 8:32 PM
The way Delta is ferociously infecting every country around the world, the medical gloves shortage will be so severe that ASP may rise even more than the previous waves. This time gloves will really be diamond.
yup pjseow , good point, the scaring away FDI factor is critical. Gov't never lift a finger to help the glove makers, so shouldn't impose windfall tax. They impose windfall tax now, most glovemakers will shift out immediately.
Windfall tax is akin to killing the goose that lays the golden eggs.
They think the glove factories can only produce gloves in malaysia is it?
There are many other countries with abundant labor supply and better corporate tax rate which the companies can relocate to such as Indonesia, Thailand, Vietnam, Cambodia or even Bangladesh.
Another short term gain long term pain policy.
Can say goodbye to FDI lah.
Existing foreign investments may also want to consider moving out too if this windfall tax is implemented.
Only the banks have no choice lah cannot move anywhere hahaha...
U can't just impose windfall tax just because of this pandemic alone. Windfall tax is only imposed on commodity like palm oil, tin, rubber. Pandemics do not happen always n just temporary. Besides the glove companies had already donated millions to the covid fund last year n also they are among the biggest tax contributors to the country.
If one talk about windfall tax to be imposed, then how about banks, casinos n other institutions also made huge profits n why is it, the govt is not taxing them
This potential setback has been brought up months ago and it will haunt the stock and sector performance for ages. Another major hurdles CBP and first ever profit potential declination. Vaccinations rolling out fast and big players refused to take position. Don't underestimate these news. And of course like many here were so excited about the rising cases will lead to another potential world wide lock down ? That's the only bet you got here. Digest all these facts and make a good decision and conclusion.
CBP issue would not affect Supermax. With the cases set to seriously rise around the world, glove shortage will become even more acute, therefore ASP may rise again, together with profit. Global vaccination is only around 20%, With newer more powerful variants popping up every 3 -4 months, vaccines would struggle to keep, so is global vaccination.
windfall tax kah? ok fine....they may tax plastic packaging, logistic company, tech stock and tapao platform company because they earning a lot too.... oh ya....never forget serbadk....
Our government had reduced the corporate tax from 28 % in the past to current 25 % so that malaysia remain competitive compared with other countries. If the government feel that the pandemic has impacted the collection.of taxes, it would be better to increase the tax % from 25 to 28 % just for this periods. Otherwise, it will be difficult to come up with guidelines which companies made windfall profits. Many electronic companies like inari , mpi , D &O, Greatech , plantations companies and banks also made record profits last year and possibly this year .These across the board increase in taxes will be fairer and more substantial . The setback will be negative perceptions by foreign funds . More funds might pull out from our already worst stock market in the world.
I think u guys are a bit worked up over the old man's words and he is not even part of the Gov't cabinet. The FM has said windfall tax is not on the card. Even if the changed his mind, it may just a 5% windfall tax on all profitable sectors across the board, not just the glove co. The burden must be equally and fairly shared. You should not unfairly burden just a few companies by taxing them unreasonably, that is not a wise move that would have wider repercussion. A 5% windfall tax would be about similar to the 75mil donation paid out last quarter.
Why not tax the banks, casinos n other companies making huge profits like tobacco companies. Gloves companies as it is, already among the biggest contributors to the country economy by their huge taxes annually.
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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....
strattegist
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Posted by strattegist > 2021-07-14 17:38 | Report Abuse
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