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Friday, February 14, 2014

Property sector sees rebound


Published: Friday February 14, 2014 MYT 12:00:00 AM 
Updated: Friday February 14, 2014 MYT 7:59:02 AM
Siva said: “By the third quarter, the market will find its own level.
Malaysians have a short memory and activities will start picking up,”
Siva said he expected full confidence to return to the local property market in 2015.
PETALING JAYA: The property sector could see a rebound by the second half of the year, as buyer and investor confidence is expected to improve after a brief lull, experts said.

Malaysian Institute of Estate Agents president Siva Shanker admitted that the cooling measures announced in Budget 2014 have sent the property market into “a tailspin”.

“I believe there will be some consolidation in the first and second quarters of this year, whereby the market will remain soft,” he said, adding that buyers will remain cautious in the first half of the year.

“By the third quarter, the market will find its own level. Malaysians have a short memory and activities will start picking up,” he quipped.

Siva said he expected full confidence to return to the local property market in 2015.

On whether there would be any impact to the sector once the goods and services tax (GST) is implemented in April 2015, he said: “It will depend on how the education and acclimatisation process is done. If done well, people won’t panic.”

One industry observer concurred, saying that he expected the property market to remain soft “for just a while”. “It’s a normal thing. When some policy is announced, it creates a knee-jerk reaction, causing people to adopt a wait-and-see approach. But after a while, they get used to the changes and life goes back to normal,” he said, adding that he expected the local property sector to “start picking up” by the second half of the year.

HwangDBS Vickers Research, meanwhile, said it expected the GST to have an impact on commercial properties.

“Residential properties, while exempted, may be affected by higher building material costs,” it said in a report yesterday, adding that the various cooling measures will likely be felt at least up to the first half of 2014, as “both buyers and developers turn more cautious”.

“Sales of landed properties, affordable housing and those in prime areas, nevertheless, should remain resilient, given pent-up demand.”

Among the cooling measures are a higher real property gains tax of 15% to 30% for disposals within five years and the discontinuation of the developer interest-bearing scheme.

HwangDBS said it expects property sales this year to decline by 5% to 10% due to slower volume. However, it added that property prices are likely to hold as a result of cost-push inflation.

“House price growth may moderate to 3% per annum, as rising new supply meets weaker demand.”

Govt might rake in billions after MyEG completes Online Tax Reporting project


Published: Friday February 14, 2014 MYT 12:00:00 AM 
Updated: Friday February 14, 2014 MYT 8:48:26 AM

PETALING JAYA: MyEG Services Bhd, one of the best-performing stocks last year, has finally landed the job to wire up businesses that are required to pay tax to the Government – a project that has been mooted to beef up the Government’s coffers.

The over-riding objective of the project is to plug a loophole that currently allows businesses, particularly entertainment outlets, to evade paying tax on sales to theRoyal Malaysian Customs Department (Customs).

It is also to facilitate the Government’s implementation of the impending goods and services tax (GST) starting from April next year. The amount that the Government is losing out is not known, but the sum is estimated to run into the billions.

In an announcement yesterday, the company stated that it had been awarded a RM180mil contract by the Customs to undertake the Customs Online Tax Reporting (Electronic Monitoring System – EMS) project.

The tenure of the project is for a period of six years and will commence from April 1.

According to the statement, the project will entail linking up point-of-sales terminals and cash registers of businesses that are subject to the Customs’ tax collection.

“This will enable the Customs to effectively monitor tax collection revenue for the Government,” it said.

The project to wire up businesses has been shrouded in controversy, as there were several contenders for the job due to its lucrative returns.

Although the face value of the contract is small, it is seen as a prelude to the company generating more recurring income from the maintenance and supply of the equipment installed in the businesses.

MyEG had mooted the project several years ago and stated in previous reports that it had invested more than RM100mil in developing the system.

It finally made some headway in the project when it announced last month that it had completed a pilot Customs Service Tax monitoring system, cementing its position to win the job.

The pilot project was undertaken by MyEG Integrated Networks Sdn Bhd, a company where it has a 40% stake.

The announcement yesterday did not specify details on the company awarded theEMS project.

The euphoria surrounding MyEG picked up pace after Barisan Nasional was retained as the Government in last May’s general election.

Since May last year, the stock rose some 178%, making it easily one of the best performers for the year on Bursa Malaysia.

MyEG ended at RM2.89 yesterday, inching up nine sen.

The company is of the opinion that the project will contribute positively to its earnings for the financial years ending June 30, 2015 onwards.

The source of funding for the project is expected to be obtained from internally generated funds and bank borrowings.

Wednesday, February 12, 2014

Rasional cukai barangan dan perkhidmatan


Publication: BH
Date of publication: Feb 12, 2014
Section heading: 1Klassifieds
Page number: 001

Cukai telah menjadi elemen utama pendapatan negara ini untuk menampung segala keperluan ekonomi. Cukai Barangan dan Perkhidmatan atau GST adalah model cukai kepenggunaan yang dikenakan ke atas penggunaan domestik serta barangan dan perkhidmatan import yang dibekalkan di Malaysia dan turut dikenali sebagai Cukai Nilai Tambah (VAT) kerana cukai ini dikenakan ke atas nilai ditambah bagi barangan dan perkhidmatan di setiap peringkat rantaian bekalan.

GST dikatakan bertujuan untuk menggantikan Cukai Jualan dan Perkhidmatan (SST) yang telah lama dilaksanakan dalam negara kita. SST dikatakan mempunyai banyak kelemahan seperti kesan cukai bertindih, cukai berganda dan cukai bertingkat, isu kebocoran dan hasil yang tiris akibat daripada pemindahan harga, penyeludupan dan sebagainya.

Dengan adanya GST, segala kelemahan ini akan dapat diatasi. GST merupakan sistem cukai yang adil dan menyeluruh yang memanfaatkan semua rakyat Malaysia. Pada masa ini, Malaysia mengenakan cukai jualan dan cukai perkhidmatan secara berasingan dengan kadar kira-kira 16 peratus untuk produk dan perkhidmatan tertentu antaranya restoran dan hotel.

Lebih 160 negara di dunia telah melaksanakan GST dan kadar GST (6 peratus) di negara kita ialah yang terendah dalam kumpulan Negara ASEAN di mana Indonesia, Vietnam, Kemboja, Filipina dan Laos mengenakan GST pada kadar 10 peratus dan Singapura serta Thailand pula mengenakan GST pada kadar 7 peratus.

GST pada hakikatnya merupakan satu sistem percukaian yang lebih komprehensif, efektif, telus, efisien dan mesra perniagaan. GST mampu merangsang pertumbuhan ekonomi domestik serta meningkatkan daya saing negara kepada pelaburan global di samping kurang terdedah kepada risiko turun naik ekonomi atau kebergantungan kepada sumber minyak dan gas yang mempunyai jangka hayat yang terhad.

Bagi komuniti perniagaan, GST tidak akan menjadi sebahagian daripada kos barang dijual. Ini bermakna, sebarang caj GST yang terdapat di dalam inbois jualan (GST Ouput) atau belian (GST Input) bukanlah perlu ditanggung oleh para peniaga. Layanan perakaunan ini tidak sama seperti sistem SST di mana SST adalah kos kepada perniagaan.

(*Admin mcm penah baca je ayat artikel ni. Tak elok plagiat...)

RBS unjur ekonomi kukuh paras 4.6 peratus


Publication: HM
Date of publication: Feb 12, 2014
Section heading: Main Section
Page number: 043

Kuala Lumpur: Royal Bank of Scotland (RBS) mengunjurkan ekonomi Malaysia terus kukuh di paras 4.6 peratus tahun ini berbanding 4.5 peratus pada 2013 dipacu oleh kekuatan eksport negara dan penggunaan domestik.

Unjuran ini juga diletakkan berikutan kerajaan menjalankan kaedah penstrukturan kedudukan fiskal negara menerusi pelbagai usaha antaranya rasionalisasi kadar subsidi, memperkenalkan cukai perkhidmatan dan barangan (GST) bermula 2015 dan mengurangkan pelbagai projek infrastruktur negara.

Pengarah dan Ketua Penyelidikan Ekonomi Urusan bagi Asia kecuali Jepun RBS, Sanjay Mathur berkata, dengan pelaksanaan penstrukturan itu juga dapat membantu Malaysia untuk mencapai pengurangan defisit menjelang 2015.

Beliau berkata, dalam masa sama kadar inflasi meningkat tetapi ia bersifat sementara berikutan rasionalisasi kadar subsidi yang dilaksanakan oleh kerajaan dalam memantapkan kedudukan kewangan negara.

"Walaupun ekonomi Malaysia secara keseluruhannya positif tetapi perlu berhati-hati dalam beberapa perkara terutama kadar hutang isi rumah mencapai 80 peratus daripada Keluaran Dalam Negara Kasar (KDNK) dan juga beban khidmat hutang sekitar 40 peratus pendapatan boleh guna.

"Namun, sektor isi rumah kukuh dan penggunaan awam masih berterusan yang memberi kesan positif kepada ekonomi berikutan kadar pengangguran serta penetapan gaji minimum bermula pada 1 Januari lalu," katanya pada taklimat tinjauan ekonomi Malaysia dan Asia di sini, semalam.

Pertumbuhan ekonomi Malaysia juga seiring dengan ekonomi di rantau Asia tidak termasuk Jepun dijangka berkembang sebanyak 6.5 peratus tahun ini berbanding anggaran enam peratus pada 2013.

Mathur berkata pertumbuhan sederhana itu disebabkan oleh perkembangan permintaan berterusan di luar dari Amerika Syarikat dan Kesatuan Eropah serta peningkatan ekonomi China.

Rakyat perlu bijak menilai helah pembangkang - Musa


MUSA Aman (tengah) bersama kakitangan awam dalam Majlis Perhimpunan
Perdana Ketua Menteri Bersama Anggota Perkhidmatan Awam Negeri
dan Persekutuan di Dewan Tun Mustapha di Kota Kinabalu, Sabah, semalam.
KOTA KINABALU 11 Feb. - Rakyat diingatkan tidak terpedaya dengan tohmahan segelintir pihak yang cuba menggugat keamanan dan kemakmuran negara dengan membangkitkan isu keharmonian agama di negara ini.

Ketua Menteri, Datuk Seri Musa Aman berkata, apa yang berlaku di Semenanjung bukan satu 'masalah', sebaliknya isu keagamaan tersebut sengaja ditimbulkan oleh pembangkang dengan niat memporak-perandakan keharmonian semua kaum.

Tegasnya, rakyat perlu bijak menilai dan tidak mudah terpengaruh dengan pembohongan pembangkang serta saling hormat menghormati antara penganut dengan yang lain.

''Kita di Sabah tidak mempunyai masalah keharmonian agama ini. Sama juga di Semenanjung. Masalah yang timbul disebabkan oleh pembangkang atau orang tertentu dengan niat memporak-perandakan negara kita.

''Saya ingin ingatkan di sini, pembangkang mempunyai banyak waktu terluang. Oleh itu, mereka akan membuat bermacam-macam perkara yang boleh mencetuskan kacau-bilau serta menggugat ketenteraman negara," katanya di sini hari ini.

Beliau berkata demikian ketika berucap pada Majlis Perhimpunan Perdana Ketua Menteri bersama Anggota Perkhidmatan Awam Negeri dan Persekutuan di Dewan Tun Mustapha di sini.

Yang turut hadir, Setiausaha Kerajaan negeri, Tan Sri Sukarti Wakiman; Speaker Dewan Undangan Negeri (DUN), Datuk Seri Salleh Tun Said dan anggota jemaah menteri negeri.

Dalam pada itu, Musa turut memberi penerangan kepada para penjawat awam agar peka dengan isu semasa seperti kenaikan harga barang terutamanya isu pelaksanaan cukai barangan dan perkhidmatan (GST).

Jelasnya, Malaysia yang bakal melaksanakan GST April 2015 dengan kadar enam peratus merupakan antara negara di ASEAN selain Myanmar dan Brunei Darussalam yang belum melaksanakan dasar itu.

Beliau memberitahu, isu GST turut dipolitikkan pembangkang dengan menuduh kerajaan tidak peka terhadap rakyat sedangkan GST hanya dikenakan kepada pembelian barang-barang mewah.

© Utusan Melayu (M) Bhd

Tuesday, February 11, 2014

`Many SMEs not ready for GST'


Publication: NST
Date of publication: Feb 10, 2014
Section heading: Business Times
Page number: 002
Byline / Author: By Lidiana Rosli

KUALA LUMPUR: THE Malaysian commerce landscape has another 13 months to go until the implementation of the goods and services tax (GST), the consumption tax that will replace the existing sales and service taxes, and yet, many small and medium enterprises (SMEs) are still unaware of what is required of them.

"We hold GST workshops for SMEs and the two most frequent questions we heard are: 'Will the GST really be implemented this time?' and 'Will this affect my business?', which shows that people are still unaware of what is required of them," YYC Tax Services Sdn Bhd tax director Elaine Wong told Business Times.

She said most people are not confident that the GST will be implemented on April 1 next year.

"Most people who come to us are reluctant to undergo the exercise and the system changes that come with GST, either believing or hoping that the government will do away with GST again as it did in the past.

"But this time, it is for real and with another 13 months to go, these companies do not have time to waste," added Wong.

Yap Shin Siang, a partner at the tax firm, agrees with Wong.

"A whole new system is set to come in and they need to know what changes they have to make. Putting it off is bad for business and can land them in hot water with the government."

She said mum-and-pop shops and food operators that are not charging the six per cent service tax but are making more than RM500,000 in revenue per annum will be most affected.

"These places, like your neighbourhood nasi ayam shop, are probably making more than RM500,000 a year.

"Right now, they are not charging the six per cent tax but when GST comes into effect, they will need to," she said.

A number of tax agencies, including YYC, have begun offering GST implementation seminars for SMEs to minimise the confusion come April 1 next year.

Wong said YYC provides seminars for small groups and its clients will usually invite their own clients and suppliers to attend the seminar.

"This way, all will know what their roles are. Education and awareness are the keys to making SMEs' transition into the GST system as seamless as possible," she added.

Suara orang muda penting


Publication: BM
Date of publication: Feb 9, 2014
Section heading: Main Section
Page number: 011
Byline / Author: Oleh Rohaniza Idris; Nurul Hazren Masitom

Kuala Lumpur: "Kerajaan tidak pernah menolak atau enggan mendengar suara orang muda dan belia seperti difikirkan golongan berkenaan. Itu hanya persepsi," kata Menteri Belia dan Sukan, Khairy Jamaluddin Abu Bakar.

Beliau berkata, Perdana Menteri, Datuk Seri Najib Razak sendiri mengakui peranan belia dan suara orang muda.

Katanya, suara orang muda diperlukan kerana mereka bakal menerajui negara ini pada masa depan.

Parlimen Belia

"Itu sebab kita perkenalkan Parlimen Belia kerana di situlah kita mahu mendengar suara orang muda dan belia," katanya ketika sesi soal jawab di Simposium Kepimpinan dan Aspirasi Nasional Kedua, di Pusat Dagangan Dunia Putra (PWTC), semalam.

Dalam ucaptamanya, Khairy Jamaluddin berkata, hanya 20 peratus daripada belia dalam pertubuhan bukan kerajaan (NGO) terbabit dengan Parlimen Belia, manakala selebihnya memberikan peluang kepada belia yang tidak aktif untuk memberi pendapat mereka.

Menjawab soalan peserta mengenai sistem pendidikan negara yang tidak selari dengan adanya sekolah rendah kebangsaan dan sekolah jenis kebangsaan, beliau akui perkara itu menyebabkan integrasi nasional sukar dicapai.

Katanya, mengubah sistem itu bukannya mudah kerana perlu mendapat sokongan semua pihak dan ia sangat kompleks.

Percaturan politik

"Ini realiti di tanah air, yang mana sistem pendidikan kita ditentukan oleh percaturan politik. Mendapatkan persetujuan Barisan Nasional (BN) dan Pakatan Pembangkang dalam isu ini sangat susah, ia bukan mudah dan mengambil masa," katanya.

Mengenai pelaksanaan cukai barang dan perkhidmatan (GST) serta pengurangan subsidi, katanya, kerajaan berbuat begitu bukan mahu menyusahkan rakyat sebaliknya mencari jalan membantu rakyat.

"GST diperkenalkan bagi meningkat pendapatan negara yang kemudian boleh digunakan semula untuk pembangunan negara, begitu juga dengan pengurangan subsidi," katanya sambil menambah GSTdilaksanakan di 160 negara.

Menjawab soalan mengenai sukan lasak atau sukan ekstrem yang didakwa kurang mendapat sokongan kementeriannya, beliau bersedia berjumpa dengan mana-mana kumpulan yang terbabit dalam sukan berkenaan.

US Fed tapering affecting local debt market


Published: Friday February 7, 2014 MYT 12:00:00 AM
Updated: Friday February 7, 2014 MYT 6:47:43 AM
BY DALJIT DHESI
Nor Zahidi says the Fed tapering has already been priced in by the market.
PETALING JAYA: The latest move by the US Federal Reserve (Fed) to taper its bond purchases will slow down local bond issuance this year but will not significantly impact the bond market as a whole unless the reduction of bond purchases is aggressive.

Industry observers said further hikes in bond yields would not solely be due to the Fed’s actions alone but from higher inflationary pressure from the Government’s subsidy rationalisation plan.

Malaysian Rating Corporation Bhd (MARC) chief economist Nor Zahidi Alias toldStarBiz unless the Fed scales down its bond buying programme more aggressively than the current pace of US$10bil per month, it would not significantly impact the bond market as the tapering had already been priced in by the market.

Last month the Fed reduced its asset purchases by US$10bil for the second month in a row, cutting its monthly bond-buying programme to US$65bil beginning this month while leaving its benchmark interest rate near zero.

He said foreign investors with long term investment perspectives would not totally abandon local government papers as they are less influenced by changes in the Fed’s monetary policy stance and tend to focus more on Malaysia’s long-term economic fundamentals.

Notwithstanding this, MARC maintains its view of an upside bias for Malaysian Government Securities (MGS) yields and expects the yield curve to steepen further due to stronger consumer price index (CPI) growth on the back of the resumption of subsidy rationalisation plan and the roll-out of the goods and services tax (GST) in April 2015.

In the primary market, Zahidi said it expected lower MGS issuance of between RM85bil and RM90bil this year on the assumption of the budget deficits of RM37.1bil and RM46.9bil worth of MGS/ Government Investment Issues (GII) projected to mature this year.

As for the private debt securities (PDS), it foresaw total issuance to moderate slightly to between RM65bil and RM75bil this year, slightly lower than RM86bil last year.

He foresaw more downward pressure on the ringgit (against the US dollar) if the Fed continued to trim its bond purchases in the months to come.

Bond Pricing Agency Malaysia CEO Meor Amri Meor Ayob agreed there had been no significant hike in bond yields due to the pricing in of potential tapering as early as May last year.

He agreed that the rising yields were due to rising inflationary pressures as a result of subsidy rationalisation measures undertaken by the government.

As of January 30, the 10-year MGS yield had risen 12 bps to close at 4.22% from 4.1% on Dec 18, while the 10-year Islamic Corporate-AAA yield has increased by 19bps over the same period to close at 4.89%.

The yield of the 10-year US Treasury (UST) started to trend lower in January this year despite the Fed’s tapering of its bond buying programme. This was due to the risk-off sentiment in the market as a result of the currency rout in some of the emerging markets like Turkey, Argentina and South Africa among others, he added.

RAM Rating Services Bhd deputy CEO Promod Dass said he expected this year to be healthy year for the Malaysian bond market with sukuk issuances picking up further steam.

He anticipated the corporate bond market to gain momentum this year driven by the potential of further yield steepening that may spur issuers to lock in their bond programmes, especially in the first half of the year.

“Projects under the Economic Transformation Programme, private financing initiatives for large-scale projects, and further capital-augmentation plans by financial institutions are expected to sustain growth in 2014.

“We thus expect gross corporate bond issuance to come up to about RM90bil to RM95bil this year,” he said.

Decision not to hike toll rates will ease inflationary pressure, say economists


Published: Friday February 7, 2014 MYT 12:00:00 AM 
Updated: Friday February 7, 2014 MYT 8:12:12 AM

PETALING JAYA: The Government’s decision not to raise toll rates will ease inflationary pressure, said econo­mists, as the cost of goods and ser­vices has been affected by the price hikes of fuel, sugar and electricity.

CIMB economics research head Lee Heng Guie said the Government’s priority was to ensure that there wasn’t another round of price hikes and manage the strong inflation pressure from the previous hikes.

“To increase toll rates could set off another round of increases which may set off higher inflation,” he said, adding that the RM400mil used to pay off toll concessionaires would not impact the Government as it was a smaller amount compared to the billions saved from reducing subsidies.

He said the previous Budget had accounted for the possibility of havin­g to cushion toll hikes.

This was echoed by Nor Zahidi Alias of the Malaysian Rating Corporation Bhd, who said the Government wanted to insulate consumers from the multiple effects of price increases.

“The increases have led to a jump in consumer prices as reflected in the Consumer Price Index (CPI) growth of more than 3% in December 2013. If toll hikes are implemented, inflation will accelerate further and the burden on consumers will be further magnified, especially when jitters about the implementation of GST start to surface,” he said.

RAM Holdings group chief economist Dr Yeah Kim Leng said that with the toll hike off the table, inflationary pressure would be reduced.

“Toll rates have a major knock-on effect on the cost of doing business,” he said.

Yeah added that he expected the Government to achieve its fiscal deficit goal of 3.5% of the gross domestic product (GDP) this year.

Alliance Research chief economist Manokaran Mottain said the Govern­ment’s move of not increasing toll rates spaced out its austerity schemes and softened the blow on consumers.

On Wednesday, the Government decided to postpone the move to increase the toll rates of 15 major highways, and will instead pay RM400mil in compensation to the toll concessionaires to help cushion the public from the rising cost of living.

The announcement of a possible toll hike came amid a slew of subsidy rationalisations as part of measures to rein in fiscal deficit.

Accumulated debt is also high at 54.8% of the country’s gross domestic product (GDP), which is only slightly below the self-imposed limit of 55% of GDP.

Talk on upcoming GST at State Library on Feb 21


Published: Wednesday February 5, 2014 MYT 12:00:00 AM 
Updated: Wednesday February 5, 2014 MYT 2:35:52 PM

KUCHING: The State Library will be conducting a talk on the upcoming Goods and Services Tax, to be introduced in April 2015.

The talk, scheduled for Feb 21 at 2.30pm at the auditorium, is open to all members of the public and entrance is free.

The objective of the talk is to give an insight to participants on what GST is, how and why it is implemented as well as how it will affect the people in terms of prices of goods.

The talk would be facilitated by an expert from the Customs Department, Noelle Lily Morse.

For further enquiries, contact Natalia Muhammad or Chai Yeu Shaw at 082-442 000 ext 330 or 329, or email to nataliam@sarawak.gov.my or chaiys@sarawak.gov.my

SMEs told to prepare for goods and services tax to avoid additional cost


Published: Monday February 3, 2014 MYT 12:00:00 AM 
Updated: Monday February 3, 2014 MYT 7:51:29 AM
A man working at a batik factory in Kota Baru, Kelantan.
SMEs should prepare themseleves for the incoming GST so
that they will not incur additional cost of doing business. File pic by
ONG SOON HIN/THE STAR
PETALING JAYA: Small and medium-sized enterprises (SMEs) need to be prepared for the goods and services tax (GST) so as to not incur additional cost of doing business.

KPMG Tax Services Sdn Bhd executive director Soh Lian Seng said the multi-stage tax on domestic consumption allowed a rebate for GST-registered businesses via an input tax credit on the GST incurred on inputs purchased for the purpose of making taxable supplies.

“This credit mechanism means that the GST is levied on the value added at each stage of production, and it can be cost-neutral to a business, with the burden falling on the final consumer who has to bear the GST,” he told StarBiz.

A business is only required to be registered for the GST if it makes taxable supplies when the annual taxable turnover exceeds RM500,000.

However, those with an annual taxable turnover of less than RM500,000 are exempted from being GST-registered. They could, however, register on a voluntary basis.

“As only a registered business is allowed to claim input tax credit, post-GST, businesses not registered may end up being less competitive because they would not be able to claim any input taxes on the raw materials, utilities, etc, which is used to manufacture their products,” he said.

This could lead to them pricing in the input tax as part of the cost, increasing the price of their intermediate goods, which would be borne by their customers.

For SMEs that would be claiming the input tax credit, Soh said the tax invoice was crucial during the procurement stage. There could be added operational cost during the transition period as well.

“SMEs would need to be prepared with IT systems that are able to capture the GST when a transaction occurs. They would also need to allocate resources for staff training,” he said.

Some measures have been proposed to support the smooth implementation GST and these include the income tax rate for SMEs on the first RM500,000 of the chargeable income to be reduced by 1% (from 20% to 19%), effective from year of assessment 2016.

There is also a proposal for double deduction on expenses incurred on the training of employees in the area of accounting and information and communication technology for GST purposes for year assessments 2014 and 2015.

True - or not?


Published: Sunday February 2, 2014 MYT 12:00:00 AM 
Updated: Sunday February 2, 2014 MYT 8:22:52 AM
Sooth or dare?: Do the annual predictions by astrologers usually come true?
Is there really a science involved and evidence to suggest that this is more than just a guessing game?

As we embark on a fresh round of extrapolations for 2014, we take a quick look at the accuracy of predictions made for 2013.

IN his weekly Sunday column on Dec 20, 2012, The Star chief news editor and the author of Vasthu Sastra Guide T. Selva presented his analysis of the various zodiac signs using the Indian almanac. Under the Kartaka (Cancer) sign, Selva wrote these opening lines: “You will be recognised for your efforts….”

Five months later, a very famous Cancerian in the form of Sir Richard Branson went on board an AirAsia flight, dressed up in a stewardess uniform, complete with fishnet stockings, red lipstick and blue eye shadow. During the six-hour flight, Branson pledged to serve tea, even clean the toilets, to honour a two-year-old bet made with AirAsia chief Tan Sri Tony Fernandes. While Branson became the butt of a million jokes, his stunt also made worldwide headlines and benefitting from the funds collected on this flight was the Starlight Foundation, a global charity aimed at bringing the smiles back to sick children.

Although Selva’s statement was a general one, his prediction had come true.

Meanwhile the prognostication from CEO and master trainer of the Mastery Academy of Chinese Metaphysics Joey Yap, about Malaysia having a good year would be best left to individual interpretation.

He wasn’t completely wrong, of course. In terms of international relations, we did shine. In January, Prime Minister Datuk Seri Najib Tun Razak became the first Asian leader to hold a two-sided discussion concerning investment opportunities with Japanese Prime Miniter Shinzo Abe. Malaysia also witnessed the peace process for the South Thailand unrest by hosting the signing of a consensus between the Thai government and Badan Revolusi Nasional (BRN), a southern Thailand Muslim group. There was also President Xi Jinping’s three-day visit to Kuala Lumpur.

But if you’re a wildlife conservationist, the above prediction wouldn’t be precise. Who can forget the 14 dead Borneo pygmy elephants near the Gunung Rara Forest Reserve? Poisoned with pesticide, they died slowly and painfully. When their carcasses were found, the sole survivor left was a baby elephant named Baby Joe, seen caressing the body of its lifeless mother.

And what of one Johorean businessman who slipped poisoned fruit into the animal enclosures of the Malacca Zoo causing the death of a sun bear and an Arabian stallion? Or the two youths who thought it was funny to seal a kitten in a jar? Thankfully, Yap was right about the business landscape.

The Star Online reported the Kuala Lumpur Composite Index had hit record highs to end at 1,866.96 on New Year’s Eve. Data from Malaysia Automotive Institute also reported new vehicle sales increasing by 3.9% to a record 652,120 units sold. Over in the manufacturing sector, the Statistics Department recorded 4.4% growth in the manufacturing sector, which hit sales of RM53.2bil in November.

Maybe we can also look to Melbourne-based feng shui consultant Edgar Lok who has 13 years of experience in the field.

Lok was spot on when he wrote in his loktinfengshui.com.au that there would be uncontrollable fires burning in South-East Asia. In June and August, the World Resources Institute reported forest fires in Indonesia flaring to alarming levels causing Malaysia and Singapore to be enveloped in thick smog.

Lok also predicted electricity problems and true enough, Malaysia experienced several blackouts, most notably in Sarawak, when circuits at the Kemena-Bintulu transmission power line tripped, plunging the state into a turmoil of darkness and snarling traffic jams for several hours.

In a twist of events still related to electricity, a freak storm in Penang caused the collapse of a lightning arrester from the island’s Umno building in Macalister Road. Taking the brunt of the impact was an economy rice seller driving past then. Save for parts of his car salvaged from a deep crater left by the lightning arrester, his body was never recovered.

Lok also forecasted volcano eruptions. The Atlantic reported one in Mount Etna, Italy and Volcan Copahue, Argentina.

Just like Lok said, these two happened in the South American region and Europe. However, we suspect he might have missed out one underwater eruption in the seas of Japan.

This event was of particular interest because it gave birth to a new island, about 1,000km south of Tokyo. The last time a similar phenomenon was recorded by Japanese media was in 1970.

Unfortunately, Lok was also right when he wrote the year would see a decline in social niceties with violent uprisings and civil unrest taking place.

There is no need to mention the usual places of strife. The Minion Madness in July where an unruly crowd pulled at a roller shutter of a McDonald’s outlet in George Town until it gave way was enough to affirm people have forgotten that a Happy Meal is supposed to bring smiles, not bruises and frowns.

But the most impressive set of predictions would come from founder and chief researcher of Good Feng Shui Geomantic Research Kenny Hoo when he summed up 2013 as the year of correction.

Proof that Hoo had gotten it right was a Bloomberg report revealing the reduction of entertainment budgets for ministers and a freeze on renovations in government offices in an effort by the Malaysian government to curb public spending. Cuts would also see civil servants travelling in economy class for domestic flights and a decrease in souvenir presentations and refreshments.

He was also very right about it being a “painful” transition for some as price hikes for fuel, electricity, toll, sugar and the introduction of the GST became the hottest topics for the year. However, Hoo didn’t completely hit the mark about the sports sector doing well. While squash and badminton stars Datuk Nicol David and Datuk Lee Chong Wei shone, our sepak takraw team lost to Laos at the Myanmar SEA Games. Overall, Malaysia finished fifth behind Thailand, Vietnam, Myanmar and Indonesia. Datuk K. Rajagopal would also be saying goodbye as his contract has not been renewed, seemingly for failing to get the National football squad into the 2015 Asian Cup.

Speaking on the subject of likelihoods and the chances of prophecies coming true, figuring at the top of the master list of “Favourite Inaccuracy of All Time” should go to Harold Camping, a radio evangelist who said the world would end in 2011.

Since we are all still here, Camping’s prediction obviously did not hold water. However, Camping did predict the coming of his own end. Though the world did not end in 2011, Camping suffered a stroke. Still, he was man enough to redeem hope among his followers by acknowledging he was wrong a year later. Camping died in 2013.

Malaysia’s inflation to average 3% in 2014


Published: Thursday January 30, 2014 MYT 8:56:00 AM 
Updated: Thursday January 30, 2014 MYT 8:58:12 AM

KUALA LUMPUR: RHB Research expects inflation to likely rise to an average rate of 3% in 2014 from 2.1% in 2013 due to the government’s subsidy rationalisation which will spill-over into other end-product and service prices gradually.

The research house said inflation was set to accelerate to 3.5%-3.9% in 2015, the highest since 2008, when the Goods and Services Tax (GST) with a fixed rate of 6% is implemented on April 1, 2015.

“The rise in inflation is mainly policy-induced and Bank Negara Malaysia (BNM), viewing it as a ‘cost-push’ and ‘temporary’ phenomenon, will unlikely use demand management policy and raise interest rates to address it in the near term,” it said.

RHB Research said nevertheless, it believes it is still important for BNM to take a preemptive move to control rising inflationary expectations and given that inflation will be accelerating for two consecutive years in 2014-15.

“As a whole, we expect BNM to increase its Overnight Policy Rate (OPR) by 25 basis points toward late 3Q 2014 to 3.25%, after keeping it unchanged at 3.0% for more than two years,” it said.

On Wednesday, BNM’s Monetary Policy Committee (MPC) opted to maintain the OPR stable at 3.0%, marking the 16th successive meeting it had kept its OPR unchanged.

Minister: GST has to be fine-tuned to match provisions in Constitution


Published: Thursday January 30, 2014 MYT 12:00:00 AM 
Updated: Thursday January 30, 2014 MYT 9:41:01 AM

KUCHING: The implementation of the Goods and Services Tax (GST) in Sarawak has to be fine-tuned to match the provisions in the Constitution, which allows the state government to collect service tax or sales tax of products and services produced in the state.

“The collection of tax is in the jurisdiction of the state government,” said Housing Minister Datuk Amar Abang Johari Tun Openg during the closing of an economic seminar here yesterday.

Conventionally, a state is not allowed to have double taxation implemented. Although the state government does not have boundaries to adopt the system of GST that has been organised by the Federal Government, it wishes to further discuss the fine-tuning of the mechanics of tax collection so that the state government does not lose the existing proceedings.

“It is expedient therefore that with the good intention of the Government to broaden our revenue base, it is also pertinent that the state is bound to safeguard its financial autonomy arising from the implementation of GST,” said Johari.

In order to boost economic growth in Malaysia, the GST will be implemented by the Government starting April 1 next year.

Economic growth in Sarawak has seen a rise of 4.5% last year due to the increase of investments by the public and private sectors through development projects under Sarawak Corridor of Renewable Energy (SCORE) and Tenth Malaysia Plan (10MP).

“In 2014, Sarawak’s economy is expected to increase at a rate of 5.0%. This increment is driven by domestic demands of 9.4% and the increase of exportation at a rate of 9.3%.

“This performance will be supported by private sector investments of 18.2% which is consistent with the robust domestic economy and prospective global economy. It will increase private and public expenditures that is predicted to grow at a rate of 9.4% and 5%,” Johari stated.

“The construction sector is expected to rise as much as 10.8% this year especially in SCORE areas that involves both private and public sectors like Samalaju Port, infrastructure and utility projects or factories at Samalaju Industrial Park, water supply projects and infrastructure in Tanjung Manis Halal Hub and Murum hydroelectric dam. Private sectors will hopefully rise by 5.7% to cater to domestic demands and manufacturing sector at 5.4%.”

Since its launch on Feb 11, 2008, SCORE has approved 25 projects in its area that involves an investment of RM37.4bil and offered 18,000 job opportunities to the public.

State and Federal to discuss win-win solution on tax


Published: Thursday January 30, 2014 MYT 12:00:00 AM 
Updated: Thursday January 30, 2014 MYT 9:39:45 AM

KUCHING: Negotiations will be carried out between the state and Federal governments to draft out a win-win solution and mechanism on how best the state government’s own sales and services tax would be implemented once the Goods and Services Tax (GST) is to be implemented in April next year.

Deputy Finance Minister Datuk Ahmad Maslan said according to Article 95B of the Federal Constitution, Sarawak and Sabah had the autonomy to impose their own sales taxes for their revenue.

“The Finance Minister has informed me that a follow-up discussion would be carried out between the state governments of Sarawak and Sabah, and the Federal Government to come up with a mechanism and refine the collection of the taxes.

“Based on Article 95B of the Federal Constitution, Sarawak and Sabah have the autonomy to impose their own sales taxes like for crude palm oil. So when GST is to be implemented, the sales and services tax of the Federal Government will be abolished as we do not want to burden the people.

“The negotiation and discussion would be carried out as soon as possible,” Ahmad told a press conference after the closing ceremony of the Pemerkasaan Ekonomi Nasional (Pena) seminar here yesterday.

Housing and Tourism Minister Datuk Amar Abang Johari Tun Openg said he had earlier proposed for the mechanism not to impose a double transaction for the GST and the state taxes.

He said one of the suggestions would be for the Customs Department, entrusted to collect the GST, to also collect the taxes for the state and the Federal Government would reimburse the state government.

“I hope the mechanism and the implementation would be refined and would be a win-win solution for everyone,” said Johari.

Meanwhile, Ahmad said within this one year before the implementation of GST, his ministry together with the Customs Department would be carrying out a series of awareness talks and seminars at every level throughout the state to clear any confusion.

“Requests for talks and seminars can be sent to the Customs Department by going to the online portal www.customs.gst.gov.my.”

Rentals expected to boost IGB REIT FY14 profit


Published: Thursday January 30, 2014 MYT 12:00:00 AM 
Updated: Thursday January 30, 2014 MYT 6:53:54 AM



IGB REAL ESTATE INVESTMENT TRUST (REIT)
By Maybank Investment Bank Bhd
Hold (unchanged)
Target price: RM1.24

PROJECTING a 5% year-on-year financial year ending Dec 31, 2014 (FY14) core net profit growth, Maybank Investment Bank Bhd has rated IGB REIT “hold”. It said the projection was mainly driven by major rental reversions in The Gardens Mall since third quarter 2013. The bank-backed research house forecast FY14 to FY15 earnings plus 1% using discounted cash flow based target price at RM1.24.

It said the REIT’s management expected 2014 to be a challenging year amid rising costs including higher fuel bills, electricity tariffs and assessment fees, while 2015 would see the implementation of the GST and potentially a hike in the overnight policy rate.

Malaysia’s retail industry recorded a sluggish sales growth of 3.1% year-on-year in third quarter 2013 (versus plus 4.8% in third quarter 2012 and the Retail GroupMalaysia’s forecast of +6.5%) despite the Ramadan month and Hari Raya festivity during the quarter. Turnover rent currently accounts for about 12% to 13% of IGB REIT’s total revenue.

It said while many commercial leases included rent escalation clauses and cost pass-through to tenants, tenant retention remained a top priority and REITs generally might have to absorb part of the additional costs (assessment hikes).


SAPURAKENCANA PETROLEUM BHD
By CIMB Investment Bank Bhd
Add
Target price: RM6.73

CIMB Investment Bank Bhd has rated SapuraKencana a “add” following the acquisition of Newfield’s oil and gas (O&G) production blocks in Malaysia, which could be completed as early as mid-February following Bank Negara’s approval.

Expecting the acquisition to be finalised by around April, the bank-backed research house noted that the management remained keen on Newfield’s assets in China.

It said an early completion could allow SapuraKencana to book the Newfield contributions for the full financial year ending Jan 31, 2014 (FY14) and FY15 effective Feb 1, as opposed to May 1, which could potentially raise the FY14/15 earnings per share by 3%.

Continuing to value the stock at 22.5 times calendar year 2015 price-to-earnings (P/E) with a 40% premium over its implied market target of 16.1 times, it is still within the historical P/E range of the O&G big caps.


KPJ HEALTHCARE BHD
By Affin Investment Bank Bhd
Reduce (maintain)
Target price: RM3.24

MAINTAINING its “reduce” rating for KPJ Healthcare, Affin Investment Bank Bhd noted the earnings were lowered to reflect higher staff costs and utility expenses.

Since its peak in July 2013, KPJ’s share price has fallen by 27% reflecting several quarters of disappointing earnings performance.

Having lowered its financial year ended Dec 31, 2013 (FY13) to FY15 earnings forecast by 10% to 19% after modelling in a lower earnings before interest, taxes, depreciation and amortisation margin assumption of 9.4% to 10.5% from 10% to 12.5% previously, the investment bank noted that this was on the back of a higher staff cost assumption.

It said the higher staff cost was to account for the full impact post the implementation of minimum wage effective January 2013, the extension of retirement age to 60 years effective June 2013 as well as the group’s on-going expansion.

However, it added that impact from the combined three elements to bottomline was partially mitigated, as it expected a lower effective tax rate of 22% (versus 24% previously) leveraging on KPJ’s investment tax allowance.

The lower fair value of RM3.24 is based on an unchanged 24 times calendar year 2014 price–earnings ratio. The valuation also implies an enterprise value per earnings before interest, taxes, depreciation and amortisation of 14.1 times.


MALAYSIA BUILDING SOCIETY BHD
By MIDF Amanah Investment Bank Bhd
Neutral (maintained)
Price target: RM1.88

MAINTAINING a “neutral” rating on Malaysia Building Society Bhd (MBSB), MIDF Amanah Investment Bank Bhd noted the financial services provider’s full-year financial year ended Dec 31, 2013’s (FY13) net profit rose 33.8% to RM597.6mil.

Islamic banking income rose 8.1% quarter-on-quarter and 35.8% year-on-year in 2013 despite various tightened lending criteria imposed by Bank Negara.

It said measures such as the shortening of maximum personal financing tenure to 10 years, and thereby resulting in higher periodic payments for the same loan amount, would directly reduce the amount that banks would lend to highly-leveraged borrowers.

It added FY13 also witnessed a steady growth in corporate loans for the year, averaging about 5% to 5.5% and that gross income from corporate loans was higher due to higher disbursements and lower individual assessment impairment allowance for the year due to settlement of impairment accounts.

The investment bank has maintained a “neutral” call until further updates on MBSB’s corporate loan expansion plans.

With a revised target price of RM1.88, it is pegged to its FY14 forecast fully-diluted earnings per share of 24.6 sen to the three-year historical price–earnings ratio of approximately 7.5 times.

Consumer awareness is lacking


Published: Thursday January 30, 2014 MYT 12:00:00 AM 
Updated: Thursday January 30, 2014 MYT 7:55:38 AM

MUCH have been said about the need to raise the standards of consumer awareness, in particular when consumer rights have been infringed.

Many Malaysians at best only know how to rant over the ever increasing prices of goods and services that have been going up over the past two years.

Sensitive issues such as petrol prices, the pending implementation of GST and other hotly debated issued have been brought up by many parties, government and non-governmental organisations alike, bringing little solace to Malaysian consumers.

Let us not pretend that there will be a reduction of prices or taxes on goods and services.

Ordinary Malaysians pretty much have had enough of the lack of commitment and action by certain quarters in addressing these issues.

Many will dispute this by saying that all parties be it government, private sector and other parties, have done their part in addressing these shortcomings and often the public is told to be patient or be grateful to what they have at the moment.

But as a citizen, are we not entitled to better consumer protection? Or are we asking too much?

Some parties have initiated consumer awareness by the re-evaluation of personal expenditure to cushion the impact of rising cost of living and though this is commendable, it does little for the average wage-earner who cannot make any further “budget-tightening”. Calls for better and viable solution to address these problems are often not heeded and instead many choose to ignore the plight of the public.

Lastly, agencies ought to re-evaluate their priorities by not pursuing mega-budget projects at the expense of the public and the environment.

Malaysians have enough problems to cope with. The only thing that we need now is proper infrastructure and better consumer awareness and education.

SHASHI KUMAR
Shah Alam

Top bereavement care company scoffs at closure rumours


Published: Monday January 27, 2014 MYT 12:00:00 AM 
Updated: Monday January 27, 2014 MYT 3:23:01 PM

SIBU: NV Alliance Sdn Bhd is experiencing an upturn in its business, contrary to widespread speculation that it was winding up.

The bereavement care company’s Sibu and Kota Kinabalu senior general manager Stella Tang (pic) told The Star at its annual Chinese New Gathering for customers yesterday that the company was developing new markets to cover more areas in the country.

“Yes, I have heard of such talk, which is just rumours to us. We have branches in most parts of the country, which include Kuala Lumpur, Sabah, Penang, Butterworth and we are also currently exploring new markets. As you can see, our company is getting bigger with such development.”

Closer to home, she said its Sibu branch registered burial plot sales amounting to RM16mil last year compared to RM12mil in 2012.

The Sibu branch is the only one in the country with air-conditioned internal urn compartments for Christians.

Tang said NV Alliance was optimistic of another good showing this year.

“For 2014, our headquarters is still looking at how much sales to be achieved. Generally, it will be another smooth year for us.”

She expected people to seize the opportunity to buy burial plots before the implementation of the Goods and Sales Tax (GST) in April next year.

“Now is the best time to purchase burial plots before GST comes into effect.

“One can save substantially before the end of this year. As an example, for RM10,000, you will need to pay RM600 GST.”

The price of its burial plot starts from RM20,000 depending on one’s needs.

Charge those who overcharge


Published: Saturday January 25, 2014 MYT 12:00:00 AM 
Updated: Saturday January 25, 2014 MYT 7:46:16 AM

How long more before the Government applies anti-profiteering rules?

IT’S only January but “profiteering” is already a strong candidate for the Most Used but Least Understood Word of the Year award. We hear it all the time these days. It has become a pervasive bassline in the soundtrack of our lives, featuring in particular in the song titled, “Oh No, They’ve Raised the Prices Again”.

Every time we hear that we have to pay significantly more for goods and services as a result of the subsidy rationalisation programme, we complain that the businessmen are profiteering. The perception here is that the price hikes are disproportionate to the cost increases, if any, that supposedly justify the higher prices.

Often, this is the cue for public officials to respond by promising enforcement action against the people who have unleashed the scourge of profiteering upon us. Typically, the officials cite the Price Control and Anti-Profiteering Act 2011 (PCAPA) as the weapon that will be wielded in waging this war.

The thing is, we have yet to hear of anybody who has actually been hauled up for profiteering. What has happened so far is that traders have been penalised for infringements of the price control provisions of the Act. Such offences include not adhering to the prices and charges set by the Government for certain goods and services, and failure to properly display the prices and charges for these goods and services.

Many of the price control provisions are not new. They were part of the repealed Price Control Act 1946. Essentially, the PCAPA is an update of the Price Control Act, with the addition of provisions to address profiteering.

When we grumble about indiscriminate price hikes by businesses, we’re certainly not only referring to the price-controlled items that come under the Act (for example, live and dressed chicken, imported mutton, eggs, tomatoes, shallots from India and potatoes from China).

We’re also upset about having to fork out more for everyday expenses such as meals, groceries, vegetables, seafood, transportation and stationery. And the fear is that the list will keep growing, and that every price hike will lead to another and another.

The introduction of the goods and services tax (GST) in April next year is likely to be another convenient excuse for overcharging.

It’s interesting that the anti-profiteering rules are meant to go hand in hand with the GST regime. The idea is to deter businesses from exploiting the consumers’ unfamiliarity with the GST by raising prices and blaming it on the new tax.

In fact, the PCAPA and the Goods and Services Tax Act had been targeted for simultaneous implementation, but the Government decided to hold back its GST plans. As such, the former was first to come into force in April 2011.

However, there’s nothing in the anti-profiteering provisions that say they’re only applicable in tandem with the GST.

The explanatory statement to the Bill that became the PCAPA says it was formulated to reform the law on price control and to enact provisions relating to prohibition on profiteering.

It adds: “The purpose of the Bill is to enable the Government to determine prices of goods or charges for services and at the same time to curb profiteering activities, thereby protecting the interest of consumers.”

The consumers need that protection now. The title of the Act itself sends the message that profiteering is a no-no. Do we have to wait until April 2015 before we can see the anti-profiteering rules in action? Is the Government still not ready to crack down on profiteering when the law is already in place?

The PCAPA defines profiteering as making an unreasonably high profit when selling any goods or services. But that alone doesn’t help. The Act provides for a mechanism to determine whether a profit is unreasonably high, Different types of mechanism may be prescribed to cater for different conditions and circumstances. The Domestic Trade, Co-operatives and Consumerism Minister has the authority to prescribe the mechanism.

Elements that may be taken into account in working out the mechanism include taxes; the supplier’s cost; supply and demand conditions; conditions and circumstances of geographical or product market; or any other relevant matters in relation to the prices of goods or charges for services.

Back in June 2011, an article in a newsletter by law firm Shearn Delamore was positive about the introduction of the PCAPA because of the anti-profiteering feature. At the same time, the writer pointed out that the effectiveness of that feature had yet to be seen and tested because there was no word on the mechanism for determining an unreasonably high profit.

“This concern, if not addressed urgently, will obstruct the effective operation of the anti-profiteering provision and defeat its objectives,” wrote Foong Pui Chi. Well over two years later, that sentiment is just as relevant, if not more so.

Executive editor Errol Oh knows it’s incredibly tricky to balance pro-business policies with consumer protection. It’s a test of a nation’s maturity.

MTUC wants RM300 Cola


Posted on 10 February 2014 - 05:24am
Last updated on 10 February 2014 - 09:21am
Annie Freeda Cruez

KUALA LUMPUR (Feb 10, 2014): The Malaysian Trades Union Congress (MTUC) yesterday called for a monthly RM300 cost of living allowance (Cola ) for private sector employees to meet rising costs.

Its president Mohd Khalid Atan said a memorandum on the matter will be submitted to Prime Minister Datuk Seri Najib Abdul Razak and Human Resources Minister Datuk Seri Richard Riot Jaem soon.

He told theSun that there is a need for such a policy in the private sector, which had been hit by rising costs.

"It's difficult to survive on just the RM900 minimum wage," he said after chairing a general council meeting.

He said employers should find a win-win situation to pay employees Cola either in cash, housing or allowances for food.

"While this move will go a long way to help workers, they on the other hand, will contribute by increasing productivity to benefit employers," he said, adding that the meeting also unanimously decided to set up a special consumer committee to research prices and the cost of living.

"We intend to do this by going nationwide to get feedback from workers. We will also go to the ground to check on prices. The findings will be submitted to the government to show the implications of higher prices on workers and consumers," he said.

He said MTUC opposed the planned 2015 introduction of the Goods and Services Tax (GST) as it appeared that "everyone will be imposing the tax".

"This will affect those in the low income group and workers in general," he added.

Awer: Kecekapan tenaga dapat jimat RM42 bilion wang rakyat

OLEH DIYANA IBRAHIM
FEBRUARY 11, 2014


Tarif elektrik terkini yang dikenakan kepada rakyat Malaysia. Gambar fail.Persatuan Penyelidikan Air dan Tenaga Malaysia (Awer) mendakwa lebih daripada RM42 bilion wang rakyat dapat dijimatkan pada 2025 hingga 2030 sekiranya kerajaan melaksanakan dasar kecekapan tenaga yang betul.

Presiden Awer, Piarapakaran S, berkata hasil kajian badan itu mendapati terdapat beberapa langkah yang diambil kerajaan tidak menepati piawaan dasar kecekapan tenaga dan sekiranya ia diberi perhatian dapat membantu mengurangkan beban rakyat akibat daripada peningkatan tarif elektrik.

"Kenaikan tarif tenaga elektrik yang mendadak baru-baru ini mengejutkan rakyat Malaysia dan bimbang tentang implikasi kos bagi barangan dan perkhidmatan.

"Kesan kenaikan tarif tenaga elektrik yang sepenuhnya hanya akan dapat dilihat dengan jelas mulai bil Februari. Namun, dasar kecekapan tenaga semasa dilihat tidak memberi faedah secara langsung kepada semua peringkat pengguna untuk mengurangkan penggunaan tenaga elektrik mereka," katanya dalam satu kenyataan hari ini.

Piarapakaran berkata, Awer juga mendapati terdapat kelemahan dalam pelaksanaan Pelan Tindakan Kecekapan Tenaga Kebangsaan (NEEAP) apabila ia tidak menunjukkan penambahbaikan dan pelan tersebut dilihat pengulangan kepada kegagalan seperti program "Rebet SAVE" dan Piawaian Minima Prestasi Tenaga (MEPS) .

"Program Rebet SAVE adalah contoh kegagalan mengurangkan harga produk cekap tenaga. Punca utama kegagalan ini adalah disebabkan kartel (price fixing) dan pencatutan (profiteering)," katanya.

Beliau berkata, biarpun isu tersebut berulang kali disampaikan dengan jelas kepada pegawai dan Setiausaha Kementerian Tenaga, Teknologi Hijau dan Air (KeTTHA) sejak 2012 namun ia masih digunapakai pada pelan NEAAP.

"Program Rebet SAVE sudah dirancang dalam Pelan Tindakan Kecekapan Tenaga Kebangsaan (NEEAP). Mengapa KeTTHA ingin mengulang kesilapan yang sama," katanya.

Beliau berkata, begitu juga dengan pelaksanaan MEPS apabila ia dilihat kaedah yang begitu berkesan paling cepat dan murah untuk menghentikan produk tidak cekap tenaga di pasaran.

"Selepas desakan berterusan daripada Awer sejak 2012, Suruhanjaya Tenaga akhirnya melaksanakan MEPS bagi produk sedia ada yang mempunyai label kecekapan tenaga penarafan 5 bintang.

"Tetapi, MEPS ditetapkan pada nilai yang rendah. Kemasukan produk yang tidak dapat melepasi MEPS di negara lain seperti Hong Kong, Singapura dan Eropah dapat dilihat di pasaran Malaysia," katanya.

Sehubungan itu, beliau menggesa agar masalah tersebut diselesaikan oleh Suruhanjaya Tenaga agar nilai MEPS dapat ditingkatkan bagi mengelakkan Malaysia daripada menjadi tapak pelupusan teknologi lama dan produk tidak cekap tenaga.

Kajian badan itu menyatakan kebimbangan terhadap kecenderungan Suruhanjaya Tenaga mengambil pekerja yang tidak kompetan.

"Suruhanjaya Tenaga perlu mengambil kepimpinan dalam melaksanakan kecekapan tenaga di Malaysia dan tenaga kerja di jabatan. Itu yang menjadi penghalang pelaksanaan dasar kecekapan tenaga dan mesti dibuang serta-merta.

"Penyelesaian pantas dan cepat diperlukan bagi Malaysia untuk melaksanakan kecekapan tenaga dalam skala penuh," katanya.

Kenaikan tarif elektrik di Malaysia bermula pada 1 Januari, 2014, merupakan salah satu daripada program penyelarasan semula subsidi yang diperkenalkan Perdana Menteri, Datuk Seri Najib Razak selepas Pilihan Raya Umum ke-13.

Selain itu, subsidi petrol dan gula turut dipotong menyaksikan kenaikan harga bahan keperluan itu. Semasa membentangkan Bajet 2014 Oktober lalu, Najib juga mengumumkan pengenalan Cukai Barangan dan Perkhidmatan (GST) bagi menggantikan cukai jualan dan perkhidmatan (SST) berkuatkuasa April 2015. - 11 Febuari, 2014.