Items filtered by date: April 2017

The recent announcement by the Director General (DG) of Inland Revenue Board (IRB), Datuk Sabin Samitah, to enforce harsher penalties for income tax dodgers signals the intention of the IRB on going after chronic or hardcore tax defaulters. 

Many would see this as being overzealous in the current tough Malaysian economic situation. The announcement made by the DG is actually within the limits set under the Income Tax Act, 1967 (“the Act”).  Section 113(2) of the Act inter-alia allows the DG to impose a penalty equal to the amount of tax undercharged in consequence of submitting an incorrect return or providing wrong information.  

Published in OPINION

Kuala Lumpur, April 28 - Eastspring Investments Berhad has announced the gross income distribution for Eastspring Investments Target Income Fund 5 (“Fund”):

Published in MARKETS

Kuala Lumpur, April 28 – For the second year running, Yayasan Sime Darby (YSD) will be hosting the Yayasan Sime Darby Environment Day 2017, this time in the Klang Valley with a host of activities on all things green and sustainable.

In conjunction with the World Environment Day, the YSD Environment Day will be held at the Kuala Lumpur Performing Arts Centre (klpac) on 9 May 2017 from 9am to 10pm.

Published in GENERAL
Friday, 28 April 2017 11:03

myBAS Perlis to Drive with MAN 

Kangar, april 28 - MAN Truck and Bus (M) Sdn Bhd (MTBM) yesterday announced it has signed an agreement with MARA Liner Sdn Bhd, to expand the existing fleet of myBAS Perlis as well as provide quality after sales service. The new MAN buses are based on the MAN 14.280 HOCL two-axle chassis and will be produced in cooperation with a local body manufacturer.

myBAS Perlis is part of the Stage Bus Service Transformation Program enforced by Malaysia’s Land Public Transport Commission (SPAD) to provide better access to urban and rural communities. The service commenced operations in 2015 and to-date covers six trunk routes and four feeder routes, carrying an average of 1,200 passengers daily. 

Published in GENERAL

Kuala Lumpur, April 28 – iflix, the world’s leading Subscription Video on Demand (SVoD) service for emerging markets, today announced the launch of its revolutionary service in eight territories across the Middle East and North Africa (MENA) region. 

Consumers in Saudi Arabia, Jordan, Iraq, Kuwait, Bahrain, Lebanon, Egypt and Sudan can now sign up for a 30-day free trial, giving them unlimited access to thousands of the world’s best TV shows, movies and more on every device they own, with no credit card required.  

Published in GENERAL

Kuala Lumpur, April 28: DHL eCommerce, a division of the world’s leading logistics company, Deutsche Post DHL Group, has launched its domestic delivery operations in Malaysia with a range of customer-centric services catered to Malaysia’s growing e-commerce market. 

Malaysian online retailers will also benefit from DHL’s range of cross-border shipping solutions and network of fulfillment centers globally  to enable their international expansion. This will further accelerate the e-commerce market in Malaysia which is expected to grow at CAGR  of 15.8% to EUR 1 bn by 2020, largely fuelled by recent initiatives such as the National E-commerce Strategic Roadmap, Digital Free Trade Zone and Economic Transformation Program. 

Published in GENERAL

Kuala Lumpur, April 28 - AmBank (M) Berhad (AmBank), one of the largest banking groups in Malaysia and BonusKad Loyalty Sdn Bhd (BonusLink), Malaysia’s premier loyalty company officially launched the AmBank BonusLink Visa Card today at Parkson Pavilion, Kuala Lumpur.   

The new AmBank BonusLink Visa Card allows cardholders to accelerate the accumulation of their BonusLink Points with the 10X BonusLink Points offer when they shop at Parkson or fuel-up at Shell as well as on their everyday spending on dining, groceries, online purchases and entertainment. This is a vast expansion from the current locations, and literally allows an AmBank BonusLink cardholder to collect BonusLink Points anytime, anywhere on their everyday spend.  

Published in GENERAL

Kuala Lumpur, April 28 – Alliance Bank Malaysia Berhad and Alliance Islamic Bank Berhad launched the Alliance One Account, the first loan consolidation service of its kind in Malaysia that uses a mortgage product.

The Alliance One Account gives Malaysians greater control and flexibility over their monthly loan repayments as it is structured according to their preference and financial needs. It offers a choice of lower monthly repayments, savings on total interest/financing costs, and/or more cash in hand for personal consumption.

Published in GENERAL

Kuala Lumpur, April 28 – Nestlé (Malaysia) Bhd delivered a commendable performance for its financial year ended 31 December 2016. The Group also crossed the RM5 billion Revenue milestone with a Turnover of RM5.1 billion in 2016. This marked a 4.7% increase from the previous year. Despite challenges in 2016, the Group recorded a higher Profit After Tax of RM637 million, up by 7.9% from the previous year. 

Alois Hofbauer, Chief Executive Officer of Nestlé (Malaysia) Berhad, commented after the Group’s Annual General Meeting: “The Group continues to be propelled by our long-term FIT strategy, representing the key pillars of ‘Fuel to Grow’, ‘Innovate to Grow’ and ‘Transform to Grow’. This strategy has indeed proven to be effective, as demonstrated by our strong performance for the year.”

Published in CORPORATE
Friday, 28 April 2017 10:24

Maxis Increases Profit In Q1 

Kuala Lumpur, April 28 – Maxis Bhd enjoyed a stable service revenue at RM2,129  million against RM2,122 million a year ago, supported by strong average revenue per user (ARPU). 

The telecommunication company also sustained postpaid and prepaid momentum in a very price-focused market year-on-Year (yoy) - Q1 2017 vs Q1 2016.

Published in CORPORATE
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