A member in Lawyerment.com.my forum wrote this:-
Every employers are trying to lay off their employees during this financial crisis. I would suggest to our goverment to take away the income tax at least for now till 2010 for those decided to take the VSS scheme
regs
Concern employee
What do you think? Should the income tax be imposed on those who were retrenched?
KUALA LUMPUR, April 22 – Datuk Seri Najib Razak today freed the country’s services sector by ending the 30 percent Bumiputera equity rule in an attempt to improve Malaysia’s competitiveness in the
softening global economy.
The Prime Minister, who is also the finance minister, promised further liberalisation, saying that he would announce details of the liberalisation of the financial sector next week.
Reading from a prepared statement the Prime Minister said he expected a greater flow of foreign investments in the services sector which currently forms 11 per cent of total investment.
“Recognising the growth potential in the services sector, the government has decided to immediately liberalise 27 services sub-sectors, with no equity condition imposed. These sub-sectors are in the areas of health and social services, tourism services, transport services, business services and computer and related services,” said Najib.
The government, he added, would also allow foreign legal firms to practice in the country but to only offer services in Islamic finance.
PUTRAJAYA: The government has removed the 30-percent bumiputra equity condition in 27 services sub sectors, with immediate effect.
Prime Minister Datuk Seri Najib Tun Razak said that the government would progressively undertake liberalisation of other services sub sectors on an ongoing basis.
Among the services sub sectors immediately liberalised were health and social, tourism, business and computer related services, he said.
In a bid to develop Malaysia as an international Islamic Financial hub, the legal profession would be liberalised to allow up to five international law firms with expertise in international Islamic finance to practice in Malaysia, Najib said.
By JANE RITIKOS
Source: http://thestar.com.my/news/story.asp?file=/2009/4/22/nation/20090422163408&sec=nation
When banks gone into red zone, what should we do? This is an open discussion.
SINGAPORE: Oil slipped below $52 a barrel Friday in Asia after surging overnight on investor optimism crude demand will soon rebound if the U.S. recession has bottomed.
Benchmark crude for May delivery fell 72 cents to $51.92 a barrel by midday in Singapore in electronic trading on the New York Mercantile Exchange.
The contract rose $4.25 on Thursday to settle at $52.64.
Oil prices have bolted from below $35…
Continue reading at Oil slips below $52 in Asia Friday
PERTH, April 1 – Oil fell over two per cent towards US$48 (RM176) a barrel today, paring much of the previous session’s gains, dragged down by a bearish industry report showing a larger-than-expected rise in US crude stocks and a slew of weak economic data.
US crude for May delivery fell US$1.20 to US$48.46 by 3:23 a.m. British time, erasing much of Tuesday’s 2.6 per cent gain that lifted the contract to US$49.66 a barrel.
London Brent crude fell US$1.03 to US$48.20.
Continue to read full article TheMalaysianInsider