《成功企业家读书会》父亲节大优惠!1人买单,2人共享!

FMCO没完没了,疫情仿佛看不见尽头,老板,你要撑住!
企业就是你与整个团队的一艘船,你是船长,在面对如此的巨浪时,你必须想方设法,不能让这艘船沉没!
你要带领团队一起克服困难,咬紧牙关在逆境中突围。要怎样找到突围的方法?
你与团队都需要多读书!多读书,才懂得思考、反省、检讨和研究,并能找到更多应对策略。

配合父亲节,也为了协助你找到更多振兴企业的方法,我们特别推出《成功企业家读书会》“买一送一”大优惠!凡在即日起至6月30日订购此读书会一年的会员,再送你多一个一年的会员证。你可以送给你的团队、伙伴、长辈、朋友或家人,让他们跟你一起进步,坚定地跨过这道坎!

订购1年《成功企业家读书会》会员的5大好康:
1)免费多获一张1年的会员证(送给你的伙伴、团队、家人或朋友)
2)可读高达24本助企业成长的书籍
3)免费3堂傅家义授教的线上“成功企业家课堂”
4)免费1场《品红酒·品企业》活动
5)获1年成功企业家思考手册

*只限于即日起至6月30日的首100名订购者!!马上行动 >> http://bit.ly/bcfb1056

老板,在FMCO时期,如何让员工上下一心,拥有同舟共济的精神,且士气高昂地为公司效力?
如何找出公司里所有人的问题?
身为领导者或主管如何做好决策?

在《成功企业家读书会》里,其中一本书《这是你的船》将为你提供整顿上下员工士气与能力的方法,让领导与员工找到一致的方向与策略,百分百为企业效力。

另外,这段日子里,员工都居家工作,你是否担心无法提升执行力?怎样的执行力才能跨过设定的策略与现实的鸿沟?

读书会里的《执行力:没有执行力,哪有竞争力》著作,将引导你使用高效的方法提升员工的执行力,让公司在这个危机时刻更能顺利完成所有计划。

在这个艰难时期,企业的向心力与执行力都是不可或缺的动力,唯有这样才能使企业更快度过难关与更快恢复之前的状态。

马上点击链接观看【成功企业家读书会】试听版。
👉http://bit.ly/bcviplks 从贫苦推销员到华人首富:李嘉诚的人生智慧
👉http://bit.ly/bcvipship 这是你的船
👉http://bit.ly/bcvipexec 执行力:没有执行力,哪有竞争力

三位导师为你导读及引导你解决企业难题

这场读书会由三位导师即中国100强导师傅家义博士、YYC总裁Datin Shin和中国报执行总编辑罗依薇,通过Videobook的方式为您导读对企业最有用的书,让您不用花太长时间就能得到全球成功企业家的经商法则。每星期只需要20分钟,就能让您磨刀,吸取成功法则与方法。

此外,导师们也会在思考手册里,教导你如何把书中的方案与法则套用在你的企业上,让你更具体地掌握书中知识,也让企业问题得到真正的解决。

马上订购《成功企业家读书会》1年,让你与伙伴一起吸收对企业有用的知识,打造出不一样的企业

订购1年《成功企业家读书会》会员的5大好康:
1)免费多获一张1年的会员证(送给你的伙伴、团队、家人或朋友)
2)可读高达24本助企业成长的书籍
3)免费3堂傅家义授教的线上“成功企业家课堂”
4)免费1场《品红酒·品企业》活动
5)获1年成功企业家思考手册

*只限于即日起至6月30日的首100名订购者!!马上行动 >> http://bit.ly/bcfb1056

百年多次危机袭击,Panasonic如何一一闯关?

全国大封锁又延长14天,相信很多老板都已预料到。
两周又两周的封城,对企业来说是一项无可奈何的重创。
您现在该做些什么补救行动呢?还是继续怨天尤人和坐以待毙?
这正是考验您企业如何面对逆境的时刻。

世界500强的日本企业Panasonic的创办人松下幸之助说过:“逆境能锻炼一个人,也能摧毁一个人。勇敢的人,把逆境当考验,始终保持热情,紧咬牙关,一步一个脚印,走得艰难却也坚实。懦弱的人,总在试图寻找捷径,或梦想不劳而获,唯独不敢直面困难。”

企业如何面对史无前例的重创?马上参与《六月围城之审时度势,突围而出》线上研讨会,让YYC总裁Datin Shin教您使用应对战略,来处理现金、贷款、成本及销售的急迫问题,以助企业度过难关。

马上报名 >> https://www.seminar.yyc.my/shinwebinar-mco3

松下幸之助在1918年创办Panasonic,这家如今市值268亿美元的企业在百年来都面临了不少危机。但每一次都勇敢地与灾难“握手”,每一次危机都能化解,且危机过后公司如同一棵长青树般,再次充满生机与活力。

危机1:1929年全球经济危机

当时日本市场一片萧条,Panasonic的产品销量锐减,库存激增,经营步入困境。其他企业都设法裁员,松下却决定生产减半,工时减半,不解雇任何一名员工,员工薪金还按全天上班时间照发。同时鼓励员工上半天工作,下半天可自愿选择出去帮助公司推销库存产品。这一举动让全体员工有了同舟共济之感,许多员工拼命去工作。短短两个月时间,堆积如山的库存产品就销售一空,工厂也恢复了正常生产。

危机2:1945年日本二战败北

1945 年日本战败后,美国对日本进行接管。由于美国的管控,银行贷款全面取消,Panasonic生产不能正常进行。当时,他们欠下高额债务,员工工资发不出来,导致许多人离职。艰难时刻,松下幸之助不气馁地说:不景气时,正好可以思考、反省、检讨、研究。这一思索,可能好计划、好主意就源源而出。
1951 年,随着美国对日的各项限制解除,日本经济开始复苏,Panasonic情况也逐渐好转,摆脱经营危机。松下幸之助表示,在狂风暴雨中,Panasonic终于重新站起来了,他呼吁要以「今天重新开业」的心态开展经营活动。

危机3:1973年全球石油危机爆发

依赖海外资源的日本企业无力应对,赤字如瘟疫般在日本企业蔓延。Panasonic也陷入严重的困境。危机时刻,松下幸之助冷静分析,沉着调整各种经营战略,模仿世界上最好的电子产品,并比别人做得更精、更好。他用仿造生产的产品成功地打入市场,挽救了濒临倒闭的工厂。松下幸之助再次度过了危机,并以更大的气魄进军美国市场。

“水库式经营”为变化储存资源

松下幸之助经营Panasonic,很重视“水库式经营”。这经营方式就是从一开始就保留一定富裕量的经营模式,如同把水蓄在水库里,根据需要慢慢放出一样,让设备留出一定的富裕,在需求发生变化的时候,合理调整设备的运转,以避免出现产品供不应求或供过于求的情况,保持经营的稳定。不仅是设备,资金、人才和产品库存都是同样的道理。

身为企业家,该向松下幸之助看齐重视“水库式经营“,这样在面对各种变化时,才能轻易找到资源,特别是要准备更多现金去应对。增加现金流就是每家企业必须一直执行的措施。企业到底要怎样做好提升现金流呢?

危机4:Panasonic 在2001年亏损4278亿日元

Panasonic多年来缺乏战略的盲目投资,并且出现了业务和资源重复,造成投资效率低下。他们所投入的液晶、等离子产业,投入了大量资金,但是获得的现金流回报却非常少。
同时,日元的升值,导致Panasonic的国际竞争力下降。因为业务的成熟化,中国和韩国产品的进口对它产生了极大的冲击力。

当时新任的总经理中村邦夫发起了以下改革措施。

a) 聚焦高毛利产品:
当时的电浆电视(Plasma TV)、DVD录影机、手机产品等都是Panasonic的“V商品“,即与其他业者相比是最具竞争力的产品。他们都把资源集中在这些产品上,夺回失去的市占率,以确保高收益。

b) 重组总公司的部门与管理层:
总公司废除了原有的部、课体制,使松下总公司战略本部的管理层由原有的6个减少到4个。将业务重复、零散的事业部整合为一个大的事业部,从而减少资源浪费,充分解决人员过剩、业务重复的现象。

经过一系列的组织重构,Panasonic重新设计了权、责、利分明的组织结构,迅速扭转以前的不利局面,并预期在2003年中转亏为盈。

老板,您也想让您的企业在逆境中转亏为盈吗?
马上报名参加《六月围城之审时度势,突围而出》线上研讨会,Datin Shin教你重新评估(Reassessment)、做出四项(现金、方向、人才、执行)正确的决策、提升业绩和利润、做出配合趋势的战略、差异化战略等。

这课程为您解决7大烦恼:
1. 未知数太多
2. 方向不确定
3. 现金流太紧绷
4. 盈利太少
5. 销售下滑
6. 团队执行力差
7. 拼“差价”

这不是一般的理论课,我会给您10大战略、7大工具、4大决策、22个真实案例,矢助您的企业战胜这百年一战!

马上报名 >> https://www.seminar.yyc.my/shinwebinar-mco3

FMCO何时了?你须马上为公司做 [重新评估(Reassessment)]!

突来而袭的封城,您准备好了吗?无论您公司现处于状态好或者不好,您有给公司做了“重新评估测试” (Reassessment Test) 了吗?

企业可以在两星期或两个月后才可开门营业?无人能晓。此时,必须做出“最差的场景化” (Worst Case Scenario) 的测试,公司还可活多久?

即使,公司现处于“好状态”的阶段,基于“全球化”,相信如果企业家没有努力地把“利润”与“现金流”不断地提升,您的利润和现金流都不断的下滑,对吧?

李嘉诚曾说过:“公司有了利润(Profit),但没有现金流(Cash Flow)时,业务大多会撞板。”

企业家,您现需要的是什么?现金流?更高的盈利?更多的銷售?

现阶段,您必须做对四项决策,哪一项是您最先要解决的?

《六月围城》 线上课堂,解决您任何以下的烦恼:

1. 未知数太多
2. 方向不确定
3. 现金流太紧绷
4. 盈利太少
5. 销售下滑
6. 团队执行力差
7. 拼“差价”

这是非一般的课程,不是“理论课”,我们给你:
战略 + 方法 + 真实案例 + 工具 + 数据化(可套上您的数据,让您可数据化管理、团队方可执行)
一堂课,价值非凡!

 马上报名👉 https://www.seminar.yyc.my/fb-success2

《六月围城》线上研讨会 给您:

  • 重新评估测试 (Reassessment Test)
  • 如何做对4大决策
  • 应对战略
  • 以终为始+ 快目标战略
  • 差异化战略
  • 大趋势战略
  • 创新战略
  • 决策系统战略
  • 利润战略
  • 营运金战略
  • 人才战略
  • 执行战略

老板,马上报名参加《六月围城之审时度势,突围而出》线上研讨会,Datin Shin教您的不只是重新评估(Reassessment),如何做出四项正确的决策,在全球化可以有更多的业绩和利润,她也会教您SWT战略和差异化战略。
另外,她也会给您“现金循环周期(Cash Conversion Cycle)”和营运资本(Working Capital)战略,让您有更多的现金。

切记,这不是一般的理论课,Datin Shin会给您战略、方法、真实案例和工具。

 马上报名👉 https://www.seminar.yyc.my/fb-success2


《成功企业家读书会》买 1 送 1 ,同舟共济!

老板,你是整家企业的船长,在面对现在的惊涛骇浪时,你不能让企业沉没!
你必须带领每个“船员”同舟共济,乘风破浪地克服每项难关。

此刻,你与团队都需要读书!多读书才能多思考,多思考才能找到更多应对策略。

为了在FMCO里协助你找到更多挽救与振兴企业的方法,我们特别推出《成功企业家读书会》“买一送一”大优惠!凡在6月8日至15日订购此读书会一年的会员,再送你多一个一年的会员证,你可以送给你的团队、伙伴、朋友或家人,让他们跟你一起进步,一起克服当前的挑战!

订购1年《成功企业家读书会》会员的5大好康:
1)免费多获一张1年的会员证(送给你的伙伴、团队、家人或朋友)
2)可读高达24本助企业成长的书籍
3)免费3堂傅家义授教的线上“成功企业家课堂”
4)免费1场《品红酒·品企业》活动
5)获1年成功企业家思考手册

*只限于6月8日至15日的首100名订购者!!马上行动>> http://bit.ly/bcfb1056

老板,在FMCO时期,如何让员工上下一心,拥有同舟共济的精神,且士气高昂地为公司效力?
如何找出公司里所有人的问题?
身为领导者或主管如何做好决策?

在《成功企业家读书会》里,其中一本书《这是你的船》将为你提供整顿上下员工士气与能力的方法,让领导与员工找到一致的方向与策略,百分百为企业效力。

另外,这段日子里,员工都居家工作,你是否担心无法提升执行力?怎样的执行力才能跨过设定的策略与现实的鸿沟?

读书会里的《执行力:没有执行力,哪有竞争力》著作,将引导你使用高效的方法提升员工的执行力,让公司在这个危机时刻更能顺利完成所有计划。

在这个艰难时期,企业的向心力与执行力都是不可或缺的动力,唯有这样才能使企业更快度过难关与更快恢复之前的状态。

三位导师为你导读及引导你解决企业难题

中国100强导师傅家义博士、YYC总裁Datin Shin与中国报执行总编辑罗依薇,都会在此读书会里通过Videobook的方式,引导企业家们吸收过去成功企业家所实行的有效解决方案,这对企业家们都很有用处。

此外,导师们也会在思考手册里,教导你如何把书中的方案与法则套用在你的企业上,让你更具体地掌握书中知识,也让企业问题得到真正的解决。

马上订购《成功企业家读书会》1年,让你与伙伴一起吸收对企业有用的知识,打造出不一样的企业!

订购1年《成功企业家读书会》会员的5大好康:
1)免费多获一张1年的会员证(送给你的伙伴、团队、家人或朋友)
2)可读高达24本助企业成长的书籍
3)免费3堂傅家义授教的线上“成功企业家课堂”
4)免费1场《品红酒·品企业》活动
5)获1年成功企业家思考手册

*只限于6月8日至15日的首100名订购者!!马上行动>> http://bit.ly/bcfb1056

Budget 2021 Highlights for Individuals

1. The maximum tax relief for individual, spouse and children’s medical expenses for serious medical ailments be increased from RM6,000 to RM8,000.

2. The maximum tax relief for medical treatment, special needs and carer expenses for parents be increased from RM5,000 to RM8,000.

3. Tax relief for a full health screening be increased from RM500 to RM1,000.
Scope of health screening expanded to include expenses on vaccine such as for pneumococcal, influenza and Covid-19.
– This tax relief, given on vaccination expenses is for the taxpayer, spouse and child limited up to RM1,000.

4. Reduction of personal income tax rate by 1% for chargeable income bands from RM50,001 to RM70,000.

5. The income tax exemption limit for compensation on loss of employment will be increased from RM10,000 to RM20,000 for every completed year of service. Exemption is available for a period of two years of assessment.

6. Full stamp duty exemption will be given to transfer of ownership document and loan agreement for the purchase of a first home worth not more than RM500,000. This exemption will be for the purchase agreement from January 2021 to Dec 31, 2025.

7. The limit of the ‘lifestyle tax relief’ has been raised from RM2,500 to RM3,000, which is an increase of RM500 specifically for sports-related expenditure, including entrance participation fees for sports competitions. The scope of the relief has also been expanded to include subscription to electronic newspapers.

8. To encourage parents to save for the costs of their children’s higher education fees, a tax relief of up to RM8,000 for National Education Savings Scheme (SSPN) net savings will be implemented until year of assessment 2022.

9. The Private Retirement Scheme (PRS) tax relief of RM3,000 a year has been extended till year of assessment 2025.

10. The maximum tax relief for disabled husband and wife be increased to RM5,000 from RM3,500.

11. The scope of tax relief on self-education fee of RM7,000 be expanded to include courses of up-skilling or self-enhancement. The maximum relief for education fee under this scope to be limited to RM1,000.

12. Returning expert may choose to be taxed at a flat rate of 15% for a period of 5 consecutive years. This is extended till year 2023.

13. Imposition of excise duty at ad valorem rate of 10% on electronic cigarette and RM0.40/ml on liquid or gel used in electronic cigarette (including Vape)

14. Tourism tax is expanded to include accommodation booked thru online platform

15. Stamp duty exemption on insurance policy and takaful certificate relating to Perlindungan Tenang Products with yearly premium/contributions not exceeding RM100 be extended till 31 December 2025.

16. RM6.5billion allocated in Bantuan Prihatin Rakyat (BPR)

Household Income <RM2,500

1 child   RM1,200

≥ 2 children   RM1,800

Household Income RM2,501 to RM4,000

1 child   RM800

≥ 2 children   RM1,200

Household Income RM4,001 to RM5,000

1 child   RM500

≥ 2 children   RM750

Single individuals earning < RM2,500

21 years old & above RM350

17. Banks will enhance the TRA to B40 borrowers who are BSH recipients or BPR, and to micro enterprises with loans of up to RM150,000. Borrowers in this category will be given the following options:

Option 1: A moratorium on their instalments for a period of 3 months; or

Option 2: Reduce their monthly repayment by 50 percent for a period of 6 months

Eligible borrowers will only need to contact their banks to choose the options and complete the documentation.

For the M40 borrowers, the application process for the repayment assistance will be simplified. Borrowers would only need to make a self-declaration of the reduction in income in order to secure the repayment assistance. The facility for the B40 and M40 will commence in December 2020.

18. mySalam’s coverage broaden to include medical devices such as heart stent or prosthesis.

19. B40 aid recipients will be given a RM50 voucher under Perlindungan Tenang Voucher Programme as financial aid to purchase Perlindungan Tenang products such as life takaful and personal accident. At the same time, the Government will also extend the stamp duty exemption period on all Perlindungan Tenang products with an annual premium or contribution value not exceeding RM100 for another 5 years until year of assessment 2025.

20. minimum employee EPF contribution rate is reduced from 11 to 9% beginning January 2021 for a period of 12 months

21. Facility to withdraw EPF savings from Account 1 for EPF members who have lost their jobs. The amount allowed will be RM500 a month with a total of up to RM6,000 over 12 months. Eligible contributors can apply beginning January 2021.

22. EPF will allow members to withdraw from EPF Account 2 to purchase insurance and takaful products which are approved by EPF relating to life and critical illnesses coverage for themselves and their family.

23. For the year 2021, the Job Search Allowance will be extended by 3 months and the rate will be:
80% in the first month,
50% for the second till the sixth month
30% for the last three months.
For this purpose, an allocation of RM150 million will be provided and is expected to benefit up to 130 thousand job seekers.

24. The Government will also continue the PenjanaKerjaya – hiring incentive programme under PERKESO, with several enhancements as below:

i. Incentive for employees earning RM1,500 and above will be enhanced from a flat rate of RM800 per month to 40 percent of monthly income, subject to a maximum incentive of RM4,000;

ii. to encourage employment for the disabled, long –term unemployed, and retrenched workers, employers will be given an additional incentive equivalent to 20 percent of the employee’s monthly income making the total incentive to employers’ amount to 60 percent; and

iii. For sectors with a high reliance on foreign workers such as construction and plantations, a special incentive of 60 percent of monthly wages will be provided whereby 40 percent will be channelled to the employer while 20 percent will be channelled as a wage top up to the local worker replacing the foreign worker.

The above three incentives will be given for a period of six months; and

iv. For those employed under the PenjanaKerjaya, the maximum training rate which can be claimed by employers will be increased from RM4,000 to RM7,000 to enable workers to take up high skilled training and professional certifications.

To ensure the success of these four PenjanaKerjaya initiatives, a total of RM2 billion will be allocated, which is expected to increase the employment opportunities for 200 thousand job-seekers.

25. one-off RM50 into e-wallet accounts for those aged 18 to 20 years via the eBelia Programme.

26. To enhance the welfare of vulnerable groups, the Government has agreed to increase the monthly rate of financial assistance as follows:
i. The rate for Financial Assistance for Person With Disabilities (OKU) who are Incapable of Work is increased from RM250 to RM300;

ii. The rate for Financial Assistance for Older Persons, Carers of Bed-ridden Disabled Person (OKU) and Chronically Ill Patient is increased from RM350 to RM500;

iii. The rate for Incentive Allowance for Disabled Workers is increased from RM400 to RM450; and

iv. The rate for Financial Assistance for Children is increased from RM100 per child with a maximum of RM450 per family, to RM150 per child aged seven years to 18 years, or RM200 per child aged six years and below with a maximum of RM1,000 per family. It is hoped this increase will help with childcare and nutritious food.

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Budget 2021 Highlights for Corporate

  1. Investment in Key Sectors RM1 billion special incentive package for high value-added technology, with a focus on supporting R&D investment in aerospace and electronics.
  2. RM500 million High Technology Fund will be provided by Bank Negara Malaysia (BNM) to support high technology and innovative companies.
  3. Incentives for businesses relocating into Malaysia
  • Application for the incentive of special tax rates for manufacturing companies relocating businesses to Malaysia be extended for another 1 year until 31 December 2022;
  • the scope of tax incentives will also be extended to companies in selected services sector which have significant multiplier effect by providing an income tax rate of 0 to 10% for a period of 10 years.

4. Initiatives in Making Malaysia A Destination For High-Value Service Activities

i. Relaxation of tax incentive conditions for Principal Hub,
the incentive will be extended until 31 December 2022;

ii. New tax incentive for the establishment of Global Trading Centre at a concessionary rate of 10% for a period of 5 years and renewable for a period of another 5 years;

iii. Limit on sales value for value-added and additional activities carried out in the Free Industrial Zone and Licensed Manufacturing Warehouse be increased from 10% to 40% of the total annual sales value; and

iv. Special income tax treatment at a flat rate of 15% for a period of 5 years to non-resident individuals holding key positions for strategic new investment by companies relocating their operations to Malaysia under the Pelan Jana Semula Ekonomi Negara (PENJANA) incentive package.

5. Existing Tax Incentives extended until 2022 include tax incentives for MRO activities for aerospace, building and repair of ships, Bionexus status and economic corridor developments.

6. A National Development Scheme (NDS) valued at 1.4 billion ringgit by Bank Pembangunan Malaysia will be introduced to support the implementation and development of domestic supply chain and increase the production of local products such as medical devices.

7. Extension of Funds and Schemes
Maritime Development and Logistics Scheme; Sustainable Development Financing Scheme; Tourism Infrastructure Scheme; and Public Transport Fund
will be extended until 31 December 2023 with a fund size of RM 3.7 billion.
( RM500 million ringgit from these schemes will be designated for Bumiputera entrepreneurs.)

8. Targeted Assistance and Rehabilitation facility worth RM2 billion under Bank Negara Malaysia will be introduced through loans from banking institutions for affected SMEs.

9. Initiatives for Locally Manufactured Products
i. RM25 million for the Micro Franchise Development, Affordable Franchise programmes and Buy Made in Malaysia programme;

ii. RM150 million for training programmes, sales assistance and digital equipment for 100,000 local entrepreneurs to encourage adoption of e-commerce under the e-Commerce SME and Micro SME Campaign;

iii. RM150 million to implement Shop Malaysia Online initiative together with the e-commerce platform to encourage online spending which will benefit 500,000 local sellers including the halal products and handicrafts entrepreneurs; and

iv. RM35 million to promote Malaysian-made products and services under the Trade and Investment Mission.

10. Tax Inventive for manufacturers of pharmaceutical products including vaccines to invest in Malaysia, preferential tax rate of 0 to 10% for 10 years.

11. Empowering the Agriculture Sector

i. RM30 million allocated in Community Farming Programme and expanded to the semi-urban and rural communities. This programme provides equipment such as fertigation kits and crop media up to RM500 per individual or RM50,000 per community, is expected to benefit 60,000 participants;

ii. RM50 million allocated to implement Organic Agriculture Project to benefit 1,000 communities;

iii. RM10 million in matching grants allocated in e-Satellite Farm Programme, with up to RM30,000 to the Pertubuhan Peladang Kawasan (PPK) for the purpose of purchasing agriculture equipment based on the Internet of Things including drones. The programme is expected to benefit more than 300 PPKs with a membership of nearly 1 million farmers and planters;

iv. For fisherman: Financing under the Vessel Modernization and Capture Mechanization Programme of up to RM 5 million (at a rate of 3.5%) for a period of 10 years to fishermen in zones A and B to upgrade equipment, nets and boats (RM150 million provided by Agrobank);

v. For agricultural entrepreneurs: Funding under the Agrofood Value Chain Modernization Programme of up to RM1 million (at a rate of 3.5%) for a period of 10 years for agricultural entrepreneurs to procure equipment and technology based on IR4.0. (RM60 million provided by Agrobank);

vi. For micro-entrepreneurs: RM10 million through matching grants is allocated in Aquaculture Development Programme,
up to RM20,000 for micro entrepreneurs to purchase equipment to develop high-value aquaculture livestock such as lobster and grouper; and

vii. The implementation of impactful and high-value farming projects with an RM100 million through collaboration with State governments such as pineapple farming in Johor and freshwater prawns in Negeri Sembilan.

12. Commodity Sector

  • RM20 million allocated to extend Malaysian Sustainable Palm Oil Certification or MSPO to boost growth and enhance the competitiveness of palm oil industry.
  • RM30 million matching grants for commodity sector industry’s investment in mechanisation and automation;
  • RM16 million allocated in incentives for latex production, focused in Pahang, Terengganu and Kelantan;
  • A furniture industrial park to be opened in Pagoh,
    to further boost the timber industry and provide employment opportunities.

13. Tourism Industry

  • 6 months HRDF levies exemption will be given (effective from 1 January 2021)
    This exemption will cover the tourism sector and companies affected by the COVID-19 crisis.
  • Training and placements for 8,000 employees of airline companies in Malaysia with an allocation of RM 50 million to be provided by Government.
  • RM35 million allocated to the Malaysia Healthcare Travel Council to enhance the competitiveness of the local health tourism industry.
  • Income tax exemption for the export of private healthcare services extended until the year of assessment 2022.
  • RM1,000 Grant Khas Prihatin be given to traders, hawkers, taxi drivers, e-hailing, rental cars and tour drivers in Sabah.

14. RM1 billion in Industrial Digitalization Transformation Scheme to be provided by BPMB, to boost digitalization activities. These funds will be extended until 31 December 2023.

15. For automation and modernization, RM150 million additional funds will be provided under the SME Digitalization Grant Scheme and the Automation Grant. The Grants’ eligibility conditions are relaxed for micro SMEs and start-ups that have been operating for at least six months.

16. Financing for Business

i. Micro Credit Financing

  • Through PUNB, RM230 million allocated as financing to SMEs for working capital, upgrading of automation systems and equipment and expenditure related to the implementation of COVID-19 SOP compliance.
  • For Bumiputera micro and small businesses,
    RM300 million in Lestari Bumi financing facility scheme provided by SME Bank.
  • National Supply Chain Finance Platform (“Jana Niaga”) introduced to assist the financial position of SMEs that supply to the Government or GLCs.
    – This platform will be led by EXIM Bank with the involvement of several financial institutions. RM300 million will be provided by EXIM Bank to drive Jana Niaga.
    – Implementing GLCs are Petronas and Telekom Malaysia and will be extended to other GLCs, Ministries and Government agencies in the future.
  • RM50 million matching grant allocated in Peer-to-peer financing (P2P) under Securities Commission Malaysia (SC) for SMEs financing.
  • Almost RM1.2 billion micro credit financing will be provided through TEKUN, PUNB, Agrobank, BSN and other financial institutions.
    – This includes RM110 million to Micro Enterprises Facility under BNM to encourage entrepreneurship among gig workers and self-employed and to support iTEKAD program.

ii. Loan Guarantees Financing

  • RM10 billion increase in loan guarantees given under Syarikat Jaminan Pembiayaan Perniagaan, with RM2 billion reserved for Bumiputera entrepreneurs.
  • For corporate companies involved in highly high skilled industries such as oil & gas and aerospace, RM3 billion in guarantee allocated under the Dana Jamin Prihatin Guarantee Scheme and will be extended until 2021 with improved terms and conditions.
  • Others
    Consumer Credit Act will be formulated
    – To encourage standardised credit lending activities and increase consumer protection.
    – This formulation will be led by Bank Negara Malaysia and Securities Commission.

iii. Alternative Financing

  • For Equity Crowd Funding (ECF)
    – 50% income tax exemption on the investment amount or limited to RM50,000 will be given.
    – An allocation of RM30 million in matching grant will also be invested on ECF platforms under the supervision of the SC.

17. For construction contractors

  • RM2.5 billion allocated for contractors in Class G1 to G4
    – including additional RM200 million for maintenance projects for Federal Roads and RM50 million for PPR houses.
    – Government will also extend flexibilities accorded on procurement procedures until December 2021 to expedite the implementation of developmental projects.
  • RM50 million allocated in financing access for construction contractors through MARA, under the Skim Pembiayaan Kontrak Ekspres, SPiKE will be offered to Bumiputera contractors who deal with the Government to facilitate cash flow in implementing projects.

18. RM20 million allocated to the Malaysian Global Innovation and Creativity Center or MaGIC and selected agencies in social enterprise development program.

– Social enterprises with Government Impact e-Procurement Program Certificate from MaGIC and other selected agencies can join in the pilot project for the e-Procurement registration to become suppliers to the Government.
– With this initiative, social enterprises can supply goods and services in total up to RM20 million per year.

19. RM2 billion allocated to extend the Green Technology Financing Scheme 3.0 (GTFS3.0) for two years up to 2022.

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BUDGET 2021 – KEY HIGHLIGHTS

OVERVIEW & BUDGET ALLOCATION

  • Total budget allocation
    RM322.5bil
  • Three main objectives of Budget 20211. The wellbeing of the people
    2. Business continuity
    3. Resilience of the economy

PROPOSALS AFFECTING INDIVIDUAL

TAX RATE

  • The income tax rate of those earning between RM50,001 and RM70,000 will be lowered by one percentage point (from 14% to 13%).

TAX RELIEFS & EXEMPTIONS

  • The tax relief on expenses for medical treatment, special needs and parental care will be increased from RM5,000 to RM8,000.
  • Tax exemption will be given for the vaccination costs for taxpayer, spouse and children limited to RM1,000.
  • The tax relief limit on taxpayer, spouse and child medical treatment for serious illnesses will be increased from RM6,000 to RM8,000. This includes the tax relief for medical examination expenses which will be increased from RM500 to RM1,000.
  • The tax relief for disabled spouse will be increased from RM3,500 to RM5,000.
  • The Private Retirement Scheme (PRS) tax relief of RM3,000/year will be extended until year of assessment 2025.
  • The limit of the ‘lifestyle tax relief’ will be increased from RM2,500 to RM3,000, which is an increase of RM500 specifically for sports-related expenditure.
  • A tax relief of up to RM8,000 for National Education Savings Scheme (SSPN) net savings will be implemented until year of assessment 2022.
  • The scope for the tax relief for education expenses has been expanded to cover fees for attending up-skilling and self enhancement courses in any field of skills recognized by the Department of Skills Development, Ministry of Human Resources. This relief is only limited to RM 1,000/year until year of assessment 2022.
  • The income tax exemption limit for compensation paid upon job loss will be increased from RM10,000 to RM20,000 for every year of service completed for years of assessment 2021 and 2022.
  • To encourage more individual investors to participate in equity crowdfunding (ECF) platforms, an income tax exemption of 50% from the invested amount or limited to RM50,000 will be given.

EMPLOYEES PROVIDENT FUND (EPF)

  • EPF contributors will be allowed to withdraw RM500/month from EPF Account 1, up to a total of RM6,000/year, application starts from January 2021.
  • EPF contributors can also make withdrawal from EPF Account 2 to purchase insurance products for themselves and their family members.
  • The minimum employee EPF contribution rate will be reduced from 11% to 9% for a period of 12 months starting from January 2021.

STAMP DUTY

  • Stamp duty exemption for first residential home
    Full stamp duty exemption will be given to transfer of ownership document and loan agreement for the purchase of a first home worth not more than RM500,000. This exemption will be extended until year 2025 for the sale and purchase agreement executed from 1 January 2021 to 31 December 2025.
  • Stamp duty exemption for Perlindungan Tenang products
    Stamp duty exemption is given on the purchase of insurance policies and takaful certificates for Perlindungan Tenang products covering life, fire and flood insurance with an annual premium or contribution value not exceeding RM100. This exemption will be extended until year 2025 for insurance policies and takaful certificates issued from 1 January 2021 to 31 December 2025.
  • Stamp duty exemption on contract notes for trading of Exchange Traded Fund (ETF)
    This exemption will be extended until assessment year 2025 for the trading of ETF executed from 1 January 2021 to 31 December 2025.

OTHERS

  • Excise duty will be imposed on all types of electronic and non-electronic cigarette devices starting from 1 January 2021.
  • The scope of imposition of tourism tax will be expanded to accommodation premises reserved through online platform providers.

PROPOSALS AFFECTING COMPANIES

  • Additional tax deductions will be given to employers who employ senior citizens, ex-convicts, parolees, supervised persons and ex-drug dependants. This tax deduction will be extended until year of assessment 2025.
  • A Human Resource Development Fund (HRDF) levy exemption will be given for six months effective 1 January 2021 which covers the tourism sector and companies affected by Covid-19.
  • The tax exemption for private healthcare service exports will be extended until year of assessment 2022.
  • The stamp duty exemption for revival of abandoned residential property projectcertified by the Ministry of Housing and Local Government will be extended until year of assessment 2025.