50 Green projects to be approved in 2013

Malaysian Green Technology Corp expects over 50 green projects to be approved by financial institutions under the Green Technology Financing Scheme (SPTH) next year, compared with 30 this year.

Acting CEO Ahmad Zairin Ismail said banks were now more keen to approve green projects as the Government, through the Finance Ministry, was also ready to promote this line of business.


Billions of Ringgit to promote green business

The Finance Ministry has allocated another RM2billion (on top of what has been spent) to the SPTH to further push up the production and use of green technology-based products, with the scheme extended until Dec 31, 2015.


“So far, RM805million worth of projects have been approved by over 21 participating banks in the country, while over RM250million worth of loans have been disbursed,” Zairin told reporters at the media sneak preview of the International Greentech and Eco Products Exhibition and Conference Malaysia (iGEM) 2012.

He said the time taken by banks to approve green projects has also decreased significant from over a year to between 6 weeks and 2 months. Under the funding scheme, between RM10million and RM50million is allocated for a project, depending on the criteria.


International Greentech and Eco Products Exhibition & Conference (iGEM)

The iGEM 2012, to be held on 10th - 13th October 2012 at the Kuala Lumpur Convention Centre, is expected to attract over 100,000 visitors. This year is the 3rd of such exhibition and is themed Greentech for Growth. The objective is to help push the adoption of green technology to deliver a double impact of sustainable economic growth and to address the environmental and energy security issues.

The 4-day iGEM 2012 will witness the participation of more than 605 booths involving some 330 companies, both local and overseas, featuring the following major sectors (as mentioned by Minister Peter Chin in his page):

i)    Energy, as in renewable energy and energy efficiency,
ii)   Transportation as in electric vehicles and hybrid cars,
iii)  Building and construction,
iv)  Water and waste management,
v)  ICT, eco-products and related services.


TheGreenMechanics: Last year the event managed to generate sales leads of about RM1.35billion. Let's hope this year would attract better volume. I want to visit such exhibitions!

Please help me!

Will you help a helpless, everytime? How naive can you be?

No tax for Individuals earning less than RM5,000

As long as you draw a monthly salary of RM5,000 or below, you do not have to pay a single cent in tax. I think it's that simple, but tell me if you understand it otherwise.

Truth is, it's not so. Those RM4,999 earners please don't celebrate just yet.

It seem that even mainstream media can be sweet-talking to keep you reading. Somehow I felt cheated after reading the whole article. A monthly income of RM5,000 would give you annual salary of RM60,000. In this year's budget (2012), if you earn less than RM30,000 annually, you do not have to pay tax. That works out to be about RM2,480 per month. Next year (budget 2013), that'd be RM5,000, or so it seem..

No tax for individuals earning less than RM5,000?

This could only mean one thing: You'd have to be earning double that threshold of this year's figure to qualify yourself to start paying tax. And that's a massive jump. But like I mentioned, it is not the case and you have to keep reading to find out.

I have appended herewith the article for your reading pleasure and clarification of what IRB meant to say.


No Tax For Individuals Earning Less RM5,000

Bernama via The New Straits Times. September 29, 2012

CYBERJAYA, Sept 29 (Bernama) - The one percent tax cut in the budget means that individuals with chargeable income under RM5,000 do not have to pay tax starting 2013 assessment year.

Inland Revenue Board (IRB) chief executive officer Tan Sri Dr Mohd Shukor Mahfar said those with taxable income of RM5,000-RM20,000 will enjoy two percent tax compared to three percent.

"Individuals with taxable income of RM20,001 to RM35,000 will be taxed six percent compared to seven percent previously," he told reporters Friday night.

Mohd Shukor said the tax reduction takes into account all exemptions and not according to gross income. Those with queries about Budget 2013 and tax reduction can call the Customer Service Centre line 1-300-88-3010 or email at callcentre@hasil.gov.my.

The tax cut annouced by Prime Minister Datuk Seri Najib Tun Razak in Budget 2013 means that about 170,000 individuals no longer need to pay income tax.


Source                     : Bernama, The Borneo Post, New Straits Times
Date of Publication  : Saturday, 29 September 2012
Related story           : No Tax For Individuals Earning Less Than RM5,000