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PM announces 8 new investment projects worth RM1.4b

Posted: 07 Sep 2011 10:30 PM PDT

KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak announced today eight new investment projects worth RM1.4 billion in various sectors such as agriculture, education, aerospace, wholesale, retail and manufacturing.

He said Kuala Lumpur Kepong Bhd will invest RM706 million in an effort to develop the downstream sector of the palm oil industry.

In an initiative to develop and position Malaysia as a hub for high value engineering services, Stand Aerospace Malaysia Sdn Bhd, will invest RM177 million.

In healthcare, Vasseti Datatech Bhd will invest RM400 million to deploy 1,410 sets of 42" television sets at 168 locations nationwide, including hospitals, 1Malaysia clinics and Ministry of Health sites.

For agriculture, Najib said Hannan Corporation Sdn Bhd will invest RM72.6 million in two aquaculture complexes that can produce 14,000 tonnes of white shrimp per annum.

On high-value herbal products, Nova Laboratories Sdn Bhd will invest RM16.29 million in research and development as well as pre-clinical and clinical trials to develop three high value herbal products and its commercialisation.

Meanwhile, Doorstep Retail Sdn Bhd will invest RM35 million by 2020 to provide a platform of convenience for small medium enterprises (SMEs) in terms of technical support and facilities.

Complementing this, Koperasi Jiwa Malaysia Bhd will lead an initiative to provide a virtual mall platform for SMEs to enter the online sphere, with an investment of RM15 million.

The eighth investment will see DSEM Holdings Sdn Bhd evolve from contract manufacturing into a company that produces, distributes and markets its own brand of LED products.

Turning to human capital, the Prime Minister said MSC Malaysia's MyProCert is a programme to upskill Malaysians towards international certification standards, alongside the National Talent Enhancement Programme (NTEP).

He said the NTEP is open to engineering graduates with between one or two years of working experience and those who wish to upskill/re-skill to enter into the electrical and electronics and green technology sectors.

Five agencies and companies would spearhead this initiative, namely Akademi Teknologi Hijau Sdn Bhd, the East Coast Economic Region Development Council (ECERDC), the Iskandar Regional Development Authority (IRDA), Northern Corridor Implementation Authority (NCIA) and the Selangor Human Resources Development Centre (SHRDC).

Meanwhile, TERAS which aims to increase Bumiputera SMEs, has identified to date 100 Bumiputera SMEs and 1,000 small/micro companies as a starting point.

Najib said the participation of Bumiputera SMEs was encouraging and urged more to come on board, going forward. -- BERNAMA

6pc tax on prepaid reloads, sim packs from Sept 15

Posted: 07 Sep 2011 09:43 PM PDT

6pc tax on prepaid reloads, sim packs from Sept 15

KUALA LUMPUR: Purchases of prepaid reloads and prepaid starter/SIM packs for all telcos will be charged a six per cent service tax, effective Sept 15.

Prepaid customers would be informed via SMS beginning noon today of this service tax, the Malaysian telco industry said in a joint statement here today.
Customers can also refer to the respective telcos' websites for details or contact the customer service centres if they have further queries.

The telcos said the service tax is a consumption tax and chargeable to the customer, as provided for in the service tax laws.

The Service Tax Act 1975 requires telecommunication companies to levy service tax at the prevailing rate on telecommunication services, including mobile prepaid services.

This is similar to the service tax levied on food and beverage purchases from restaurants and hotels.

Whilst service tax on prepaids is not new, the telcos have been absorbing it for mobile prepaid services since the introduction in 1998.

The move taken is to ensure mobile prepaid services remain competitive compared to the postpaid, given the high prepaid rates for calls and SMS at its onset.

With prepaid rates progressively reduced over the years, it is currently offered at very competitive rates.

"With the six per cent service tax on prepaid services, a customer who purchases a RM10 prepaid reload will need to pay RM10.60, with the 60 sen being the service tax," the statement said.-- BERNAMA

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6pc tax on prepaid reloads, sim packs from Sept 15

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Rabu, 7 September 2011