Wednesday, April 8, 2015


Malaysia’s 10 highest paying jobs

By: Iris Lee, Malaysia
Published: 4 hours 33 min ago
Malaysia – I always wanted to be pilot when I was a kid, and after seeing this list, I regret not pursuing my dream.
If you are rethinking your career, here is where the big bucks are according to
1) Pilot
A pilot earns RM35,000 on average per month, on top of travelling around the world.

2) Senior accountant
You probably spend the extra off-work hours crunching numbers to manage your huge paycheck of RM30,000 a month.

3) Materials engineer
A materials engineer earns about RM28,000 a month. That’s a lot for just testing materials used to create products.

4) Government affairs director
Being in the public sector not only gives you great benefits, but also a high salary at RM27,000 a month.

5) Team Leader in oil & gas, energy or mining industry
You will be compensated for being in a high-risk job, with team leaders in these industries earning about RM26,500 a month.

6) Recruiting manager
Bring in human resources, particularly in recruiting, can rake in the big bucks. The average pay for a recruiting manager stands at around RM25,500 a month.

7) Regional manager in banking
The banking industry has always been known for its perks. A regional manager for any bank in Malaysia can earn an average of RM25,000 a month.
Appeard in HRSG Mar 10
8) Chief operating officer
A COO of a company earns an average of RM24,722 a month.
9) Regional director
Being the regional director is the next best thing after COO, as this position rakes in about RM24,583 a month.
10) Geotechnical engineer
And last but not least, traipsing around in dirt as a geotechnical engineer brings in about RM22,833 a month.
The list above is generated through information submitted by users and also a database of salary information gathered from requirement agencies, companies and employers.
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Tuesday, April 7, 2015



When you’re present, aware and actively creating; there’s nothing really to regret. You see that the mistakes you’ve made are lessons to learn that helped create who you are today. It’s never too late to start living from the heart, for that is a place where regret simply does not exist!

1. Pretending to be something you’re not.

What does it mean to truly be yourself? It’s speaking from the heart and having the awareness that lets you know when to engage and when to listen. If you’ve ever held back something you wanted to say because you’re scared the reaction; you’re still not being your self fully.
Think about the energy you let off in your interactions and see how it’s effecting your peers. The point is to allow your expressions to flow while still having the awareness of knowing what to say and how to say it.

2. Letting others choose your life for you.

This is a big one we all need to understand, especially if you’re a parent! We are our own teachers, guiders and mentors. This can look like a lot of different scenarios from your friend who is a bit too pushy to parents who make you go to university. Communication is key, expressing what you want in the moment is so important to make sure everyone understands where you are coming from.

3. Being unaware.

Our world is filled to the brim with unconsciousness; and it manifests in so many different ways. When we can practice awareness on the smallest scale, like picking up after ourselves, seeing what needs doing and just doing it; urlhaving that knowing of what needs to get done.
Cooking for a group when you see everyones hungry, knowing you’ll need something ahead of time and preparing it; just being aware. When this is practiced enough, it becomes habit and translates over onto a global scale!

 4. Keeping negative company around.

This can be a tricky one, and as always, communication is key to understanding. If there’s someone in your life who is causing you distress and you are able to talk to them about it, do it! If the lines for communication aren’t secure enough, don’t feel bad about ejecting yourself from someones life. If they are mistreating you, being unaware or even simply not engaging with you, they might not see it. You can choose to be a facilitator of growth for this person if they will allow for that transformation.

5. Avoiding personal growth.

This is something we’ve all been guilty of; perhaps some more than others. What does this look like? It’s specific to you and your life, the choices you make and the lessons you choose to learn.
When you make a mistake and get called out for it, don’t defend it, just listen and grow from it. Defending, denying or ignoring the problems you create does not facilitate growth.
Seeing what you’ve created and being able to see a solution and how not repeat your mistakes is the greatest recipe for growth.

6. Giving up.

Don’t do this! There is a difference between giving up on something and taking a break from it. When you’re working hard and you need to stop for the night, great job! You deserve that relaxation. When you set a goal for something and don’t complete it – that’s okay, you can continue it later. When you refuse to continue working on something wether its work, relationships, a hobby, etc, that is giving up. Finish what you start because it always feels better.

7. Overthinking everything.

In the design of our society, it’s almost impossible to not overthink things. There is so much stimulation, a never ending stream of thoughts is always flowing through our brains. Take a breath, use this moment to slow down and focus on your breathing, the physical environment and your physical body. This is grounding and will help take you out of your head and into your body.

 8. Not speaking from the heart.

At the end of the day, if you’ve worked hard to make people feel good, you usually feel just as good. When you speak truthfully, from a space of acceptance and true understanding; everything you say resonates with everyone.
Truth is universal and everyone will understand where you’re coming from when it’s from the heart.

9. Waiting for the next day.

Bring yourself back to the present. Focus on your breathing again, focus on what needs to get done this moment. If you’re constantly wanting the day to end, to be somewhere else or dying to crawl back into bed, evaluate what you’re doing with your life. Where is your attention going, do you enjoy the jobs or tasks you preform each day? We have a lot more freedom than we realize; do what you love. 

ACGPET_2037322c10. Being unproductive.

What are you bringing to the world? Create from your soul! What brings you the most joy, makes you the most excited and inspires you immensely? The world needs creations from the heart, ideas that shift us into the next stages of consciousness. What are you bringing to the table?
Most of us aren’t in our purpose so navigating life can leave us feeling lost. Follow what brings you joy, that thing that you want to share with the world.

Saturday, April 4, 2015

Rubber Gloves - More Upside from Earnings Growth!

Rubber Gloves - More Upside from Earnings Growth(finally !!!)

We maintain our OVERWEIGHT rating on the rubber gloves sector. Rubber glove stocks under our coverage have performed well YTD, led by KOSSAN (+30%), SUPERMX (+26%), HARTALEGA (+23%), and TOPGLV (+21%). Nevertheless, we believe they still have further upside moving into 2Q15. The stage is set for rubber gloves makers to post decent-to-solid quarterly earnings growth over the next few quarters. Our investment case is based on: (i) resumption of earnings growth in coming quarters, underpinned by new capacity expansions matched and fueled by sustained demand for rubber gloves, led by nitrile gloves, (ii) favourable USD/MYR exchange rate, and (iii) the sustained low raw material prices especially latex. We expect glove makers to announce good sets of 1QCY15 numbers due to the commencement of new capacity starting from Jan 2014 and a favourable forex rate. As an indication, the recently announced Top Glove’s 2Q15 results which topped expectations were boosted by the strengthening of US dollar against MYR. In the meantime rubber glove players indicated that customers have been found for their new plants’capacities. Our Top Pick is HARTALEGA with a TP of RM9.50. We continue to like HARTALEGA for its: (i) highly automated production processes model, (ii) solid improvement in its production capacity and reduction in costs leading to higher margins compared to its peers, (iii) innovation in producing superior quality nitrile gloves, and (iv) positioning in a booming nitrile segment with a dominant market position. We also have OUTPERFORM calls for KOSSAN (TP: RM6.68) and SUPERMX (TP: RM2.75).

Mixed bag of 4QCY14 results. Results of the glove makers from the 4QCY14 results season were mixed. Both Supermax and Hartalega posted results which came in below expectations. However, Kossan Rubber came in within but Top Glove topped expectations. Hartalega’s results were lower due to higher-than-expected operating expenses arising from new recruitment of labour for the incoming NGC project. Supermax saw lower-than-expected sales volume and start-up costs incurred in new plants. Kossan interestingly saw a 7% QoQ volume growth driven by maiden contribution from additional new 5 lines in Plant 1. However, the best performer was Top Glove in its recently announced 2Q15 results which topped expectations, due largely to an 8% strengthening of US dollar against the RM.

New in-coming capacity to drive quarterly earnings growth in FY15. Concerns of oversupply appear to have dissipated as earlier highlighted. In fact, in-coming new supply had been slower-than-expected. However, after a year of slowdown in most of 2014, all four players namely Hartalega, Kossan, Top Glove and Supermax have started commissioning their new plants gradually in end 4QCY14, albeit at a slower pace. As such, the slower-than-expected ramp-up in new production capacity further reinforces our positive outlook on the sector by allaying concerns on competitive pressure and oversupply issues. Apart from favourable forex, we expect new capacity to drive earnings growth of rubber glove stocks under our coverage over the next few quarters. Hartalega’s NGC plant has commissioned production in end Dec CY14 and currently with six running production lines. We expect Kossan to register solid growth in both revenue and earnings for 2015 with additional capacity of 6b pieces of gloves added after the full completion of three plants with 17 double-former high speed technological advanced production lines running in full force. We understand that customers have been secured. This brings the three new plants’ installed capacity to 22b from 16b per pieces of gloves per annum. On Supermax, we understand that two lines, from the new plants namely Lot 6059 and Lot 6058, are expected to start commissioning soon. From our channel checks, demand for nitrile gloves is strong.

Weakening of MYR vs. USD is short-to-medium-term positive to rubber glove players. Taking a que from Top Glove’s recent 2Q15 results, we expect other glove makers to report good sets of 1QCY15 numbers underpinned by the strengthening of USD against MYR. YTD, the USD had risen by 7% against the RM (USD1 = MYR3.69). Generally, a weakening Ringgit is positive for glove makers. Since sales are USD-denominated, theoretically, a depreciating ringgit against the dollar will lead to more revenue receipts for glove makers. Ceteris paribus, a 1% decline of RM against USD will lead to an average 1%-2% increase in the net profit of rubber glove players. However, we believe the impact from currency movements to glove players’ earnings is neutral over the long-term. This is because glove players typically hedge the currency on a consistent basis, hence in theory any negative or positive impact will be neutralised over time.

We like KOSSAN, maintain OUTPERFORM and TP upgrade to RM6.68. We are raising KOSSAN’s TP from RM6.00 to RM6.68 by upgrading our PER from 16x to 18x (at +2.0 SD above its historical forward average) as its prospect is enhanced by the new production lines that could potentially lead to higher margins. We believe KOSSAN’s new gloves production lines could potentially lead to higher margins from improvement in productivity and efficiency as the lines are designed to focus on larger orders with fewer clients (compared to previous production scheduling model) for a single product type and specification, thus reducing idle downtime from frequent machinery setting adjustments to accommodate diverse specifications. This could lead to an output of 35,000 pieces of gloves per hour, which is higher than its existing average production line speed of 29,000 gloves per hour, a robust 20% enhancement. Its current production style comprises shorter production lines catering to a large customer base with diverse products, which reduces reliance risk on few larger clients. However, such an arrangement also limits margin expansion due to more downtime on frequent machinery setting adjustments.

Maintain OVERWEIGHT. Our TOP PICK is HARTALEGA with an OUTPERFORM and TP of RM9.50. We raised Hartalega’s TP to RM9.50 from RM8.20 based on higher FD CY16 PER of 24 compared to 21x previously (at +2.0 SD above its historical forward average) due to its solid management and its ability to consistently remain head and shoulders above its peers in terms of better margins, solid improvement in production capacity and reduction in costs. We like HARTALEGA for its: (i) highly automated production processes model, (ii) solid improvement in its production processes and reduction in costs leading to higher margins compared to its peers, (iii) innovation in producing superior quality nitrile gloves, and (iv) positioning in a booming nitrile segment with a dominant market position

Friday, March 27, 2015

Doctors may add GST cost to fees

Doctors may add GST cost to fees

PUTRAJAYA: Private healthcare services are not supposed to be charging the Goods and Services Tax (GST), but the cost could be hidden in the consultation fees.

Customs GST division senior assistant director II Norazura Hashim said it was not an offence for doctors to embed their GST costs into the consultation fees.(then how to explain to patients,are we suppose to cheat patients?)

“As long as they do not have a separate GST fee indicated in their invoice, they are not doing anything wrong by passing on the cost to patients,” she told reporters.(poor patient! poor doctor!)

Norazura said private doctors might have to pay the GST to their drug suppliers and would not be able to claim the tax as private healthcare falls under the exempt supplies list.
“Due to this, doctors or clinics may in turn raise their consultation fees to cover whatever GST payment they make.”

Asked whether there was monitoring of clinics, Norazura said it was up to consumers.

“We expect a general increase of between 3% and 4% in healthcare costs following the introduction of GST.

“Patients who notice massive fee increases should lodge complaints with the Domestic Trade, Co-operatives and Consumerism Ministry.

“The authorities will then investigate and take the necessary action,” she said.

On a separate matter, Norazura said the ministry had not finalised the list of medical equipment that would be GST-exempt.

“When it comes to medical equipment, there is a difference between Item Three and Item Six of the GST Exempt Supply Order 2014.

“All medical equipment purchased by government  are exempted, while only selected equipment are exempted for private hospitals,” she said.

She said the full list of the exemptions approved by the Ministry of Finance would be uploaded on the Customs website soon.

Wednesday, March 25, 2015

Malaysia Income Tax Guide 2015

for full articles please read


What Are Tax Reliefs?

What about a tax relief? It is defined as "an amount that can be deducted from a person's annual income to reduce the amount on which tax is paid".
To describe it in a more clear and concise manner, it is actually a way for you to lessen your chargeable income.
Let's say you took home a monthly paycheck of RM4,000 from your company in 2014 and if there were no tax exemptions or reliefs, your chargeable income will remain the same and your tax for the year would have been in the 10% bracket.
Now say the Government decides that all Residents of Malaysia should get a personal tax relief of up to RM9,000 per year. Your chargeable income will now be RM31,000 which means that your tax would be in the 6% bracket.
These are the following reliefs available for Malaysian Residents:
Included in MTD systemRM
Self and Dependent9,000
Life insurance and EPF6,000
Husband/Wife/Alimony Payments3,000
Ordinary Child relief (per child)1,000
Total> 15,000
Not usually included in MTD / PCB system but relevant to most taxpayersRM
Net saving in SSPN's scheme6,000
Education Fees (Individual)5,000
Updated: PRS Voluntary Contribution3,000
Purchase of personal computer (every 3 years)3,000
Insurance premium for education or medical benefit3,000
Special relief for tax payers earning an income of up to RM8,000 a month (RM96,000 anually). Only applicable for the 2013 year of assessment.2,000
Purchase of books, journals, magazines and publications1,000
Complete medical examination500
Purchase of sport equipment for sport activities300
Not included in MTD system but relevant to certain taxpayersRM
Disabled Individual6,000
Basic supporting equipment (for disabled self, spouse, child or parent)5,000
Medical expenses for serious diseases5,000
Disabled child 5,000
Medical expenses for parents5,000
Child age 18 years old and above, not married and pursuing diplomas or above qualification in Malaysia @ bachelor degree or above outside Malaysia in program and in Higher Education Institute that is accredited by related Government authorities6,000
Disabled Wife / Husband3,500
Child age 18 years old and above, not married and receiving full-time tertiary education1,000
Premium on new annuity scheme or additional premium paid on existing annuity scheme commencing payment from 01/01/2010 (amount exceeding RM1,000 can be claimed together with life insurance premium)1,000
Total> 35,500

Tax Deductions vs Tax Reliefs

Most of the time people get confused between Tax Deductions and Tax Reliefs, and its easy to see why. They are for the most part the same thing, as they both allow you to reduce your Chargeable Income (that is, before you even start looking at tax rate tables). In fact most people worldwide use both terms interchangeably, and LHDN goes one step further and classifies Tax Deductions as a reduction in your Chargeable Income as a result of Gifts or Donations.
As a rule of thumb, you can deduct up to 7% of your Taxable Income for gifts to charities and institutions which are approved by the government (not all charities are approved, so be sure to find out before you donate away!), unless you are giving to a few selected government-related bodies, where there is less restrictions on the amount deductible from your income.
For example, if you earned RM60,000 this year, and donated RM5,000 to an approved charity, you may deduct RM4,200 (ie. 7% of RM60,000) off your chargeable income, in addition to all those reliefs above.

What are the Tax Rebates in Malaysia for 2014?

tax reliefSome people will be having the question of how is a tax rebate different from a tax relief? A tax relief is a reduction in your chargeable income (ie. before you calculate tax) whereas a tax rebate is a reduction in your tax expenseafter you have calculated your tax for the year.
Tax rebates (or also known as "tax refunds" but done automatically rather than actually refunded to you). Simply put, there are income tax rebates for Malaysian taxpaying citizens who are having a chargeable income of less than RM35,000 which is RM400. There is also an additional RM400 rebate for married couples who have a chargeable income of less than RM35,000 per year and are eligible for the RM3,000 wife / husband / alimony relief.
To give a quick calculation example for tax rebates:
Taxable Income: Salary of RM45,000 a year
Chargeable Income: RM45,000 - RM9,000 - RM4,950 EPF relief = RM31,050.
Tax calculated using Income Tax Tables (without counting any rebates): RM863
Tax Payable: RM863 - RM400 rebate = RM463
In the above example, you were eligible for the RM400 tax rebate because your Chargeable Income was less than RM35,000 (it was RM31,050 in that example).

Another type of tax rebate, but which is only applicable for Muslim citizens, is the zakat / fitrah. Zakat is a compulsory payment for charity and considered to be compulsory as it is one of the five pillars in Islam. It can be calculated via the Muslim taxpayer's acquired wealth or income. Zakat Fitrah, on the other hand, can be considered to be a small, compulsory levy that is imposed upon Muslim taxpayers only. It used to be calculated in the olden days using a pack of rice grains (one pack is equivalent to approximately 2.7 kg) but in the modern days, it is calculated based on the equivalent price of this pack rice grains. You can read all about Zakat and the various types that exists in our guide Zakat in Islam.

Tuesday, March 17, 2015

What will be taxed with GST?

What will be taxed with GST?

Saturday, 14 March 2015
KUALA LUMPUR: Goods and Services Tax (GST) will be implemented effective April 1, 2015 and the rate is fixed at 6%. Sales tax of 10% and service tax of 6% will be replaced with GST.
Under GST, most of the goods and services (except basic necessities) will be charged at every stage of the supply chain – even the ones that was previously not charged with Sales and Service Tax (SST). This means we will likely be paying more to purchase or use these goods and services, which were not taxed previously.
1. Credit card
The RM50 government tax charged annually on credit cards and the RM25 fee for supplementary cards, will be abolished from April 1, 2015 when the Goods and Services Tax (GST) is implemented. Instead, the 6% GST will apply on the credit card’s annual fees – which can range from RM70 to RM1,000 or more annually, depending on the type of card.
However, there will be no GST charges if the annual fee is waived, for example for free-for-life credit cards or those with annual fees waived, with stipulated minimum spending or transactions on a monthly or yearly basis.
To reflect the changes, the GST charged will be reflected as a separate item in the credit card statement. However, purchases will be reflected as a total amount inclusive of GST. There is some good news though, loyalty points or cash rebates will be given based on the 6% GST paid when using the credit card for retail purchases.
2. Books and e-books
The standard 6% GST will be imposed on all types of books except for dictionaries, encyclopedias, newspapers, texts, references, works and religious books. These books will be zero-rated and not be subjected to GST.
Local e-book suppliers like e-sentral and MPHonline will also be charging GST whereas foreign firms such as Google Play and Apple iBookstore would not be.
3. Housing
GST will also see basic construction materials such as cement, bricks and sand being taxed the standard 6% GST rate for both residential and commercial properties. Currently, these raw materials are not taxed under the existing SST. Heavy machineries such as cranes will be taxed too. Property developers normally do not buy such heavy machineries but rent them from other contractors – and it typically is factored into the construction cost.
Steel, bricks, and sand make up 44% of the construction cost and with these being charged GST, the cost of building a property is inevitably going to increase. Property companies expect GST to result in a maximum of 2.6% increase in house prices.
When the GST is implemented in April, residential property including SoHo (small office/home office) will be exempted. However, commercial properties including SoFo (small office/flexible office) and SoVo (small office/virtual office) would be subject to the 6% GST.
4. Fuel
RON95, Diesel and LPG (liquefied petroleum gas) will be exempted from GST implementation. However, RON97 will be subjected to the new 6% GST.
5. Electricity
A household will have 6% GST charged to the electricity bill for usage above 300 units.
6. Used cars
Currently, used cars are not subjected to SST and is not a GST zero rated item either. Therefore the car industry predicts that used cars will be subjected to an extra 6% tax after the implementation of GST in April.
7. Banking services
The RM1 MEPS fee charged when we withdraw from another bank’s ATM will increase to RM1.06. No GST will be charged if you make a withdrawal from your own bank’s ATM.
Similarly, other services offered by the bank, such as money transfers (e.g. cashier’s order and demand draft), telegraphic transfers, money exchange, loan, cheque, credit card, and debit card will see 6% GST charged to its service, commission or subscription fee.
8. Tuition fees
Beginning April, 6% GST will be imposed on tuition fees, as tuition centres are not categorised under educational institutions.
9. Beauty services
The price of beauty services like manicure, and hair and facial treatments will be subjected to 6% GST too. Massage services are also chargeable with the GST if the annual turnover for such businesses is RM500,000 and above. Aside from beauty services, cosmetics and other products for skin, hair and body care will also be charged GST.
However, operators registered to implement the GST will be able to lower their costs by claiming the input tax credit for premises rental fees, electricity costs and equipment purchased to carry out the services. Input tax refers to the GST paid by businesses on the purchase of goods and services used to perform their businesses.
Beauty products sold at airports as duty-free items will not be subjected to GST.
10. Insurance fees
All insurance policies except for life insurance will be charged 6% GST from April. GST would also impact all traditional and investment-linked policies which had medical, critical illness or personal accident benefits attached.
For traditional policies, the GST is imposed on the premium, while for investment-linked policies, it is charged on the insurance charges. For investment-linked policies, insurance charges will escalate with age because of higher insurance charges.
While it is still not clear how much prices will increase, or in some instances, decrease, it is prudent to know your exempted and zero-rated items to avoid opportunists merchants who may be profiteering on GST.
With less than a month away before GST is actually implemented, it is wise to understand how GST will affect both our daily or seasonal spending. This will help us to plan our spending ahead, to minimise the negative effect of GST.
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