Malaysia's Budget 2017 Highlights

 https://youtu.be/NlINmuXh8LY

Here are the highlights of the 2017 Budget proposals announced on Friday by Prime Minister Datuk Seri Najib Tun Razak:

Lower corporate tax

* Govt has proposed to reduce the corporate tax for the year of assessment 2017 and 2018

* Reduce tax rate between 1 and 4 percentage points for companies with significant increase in taxable income for year of assessment 2017 and 2018.

* Reduce tax rate from 19% to 18% for SMEs with taxable income up to first RM500,000.

* Extend double taxation promotion on operating expenditure borne by anchor companies for the Vendor Development Programme until 31 December 2020.

Amendment to Bankruptcy Act 1967

* To enable bankrupt individuals to rejoin business activities by amending the Bankruptcy Act for social guarantors and those diagnosed with chronic diseases as well as the elderly.

Infrastructure, railway projects

* New 600km East Coast Rail Line connecting Klang Valley to East Coast, costing RM55b. Conects Port Klang, ITT Gombak, Bentong, Mentakab, Kuantan, Kemaman, Kerteh, Kuala Terengganu, Kota Bharu ends in Tumpat

* RM100m to restore East Coast railway line along Gua Musang – Tumpat that was destroyed during flood.

* To increase trip frequency of ETS for JB-Padang Besar route, RM1.1b allocation to buy more train sets

Boosting investments in small, midcap companies

* Govt-linked investment companies will set aside up to RM3b to fund managers to invest in potential small and midcap firms

* Capital Market Research Institute will set up Capital Market Development Fund with initial funding of RM75m

* Stamp duty on instruments of transfer of real estate worth more than RM1m to rise from 3% to 4% from Jan 1, 2018

Broadband incentives for rakyat

* Malaysian Communications and Multimedia Commission (MCMC) will provide RM1 billion to ensure the coverage and quality of broadband nationwide reaches up to 20 megabytes per second.

* From January 2017, fixed line broadband service providers will offer services at a higher speed for the same price.

* A subscriber of 5 mbs per second package at RM149 will enjoy a package with twice the speed, which is 10 megabytes per second. Within the next two years, for this package, the speed will be doubled with the reduction in prices by 50%.

BR1M, subsidies

* BR1M’s assistance for 2017. Households with monthly income below RM3,000, raised to RM1,200

* For households earning RM3,000-RM4,000, the BR1M allocation increased from RM800 to RM900

* Government will provide nearly RM10b for fuel subsidies including cooking gas, toll charges, public transport

* For the purchase of reading materials, PCs, sports equipment be combined as lifestyle tax relief up to RM2,500 from 2017

Affordable housing for first time buyers

*Govt vacant lands at strategic locations will be given to GLCs and PR1MA to build 30,000 houses. The selling price RM150,000 to RM300,000.

*Govt to build 10,000 houses in urban areas for rental to eligible youths with permanent job, Rental up to 5yrs, below than market rate

* Rakyat-Centric projects will be continued through Private Finance Initiative with allocation of RM10b

Empowering taxi drivers, Uber

* Taxi drivers to get Govt grant of RM5,000 to buy new vehicles, individual taxi permits, RM60m allocation

* For ride-sharing drivers who don't own car, down payment can be made using BR1M, rebate RM4,000 to buy Proton Iriz*

Private retirement schemes

* Effective 2017, the Government proposes to introduce a one-off increase of the existing RM500 incentive to RM1,000 to PRS contributors. Minimum accumulated investment of RM1,000 during the otwo years. For this, an allocation of RM165mil will be provided.

* RM400 million will be allocated, among others for clean air and ecotourism initiatives

Source: The Star

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Budget 2017 Archives - BAJET Malaysia

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China space economy developing rapidly, the most accurate atomic clock in the world

 

Snail-like progress By Cai Meng

New company set up to develop space economy

The commercialization of rocket launches will boost the industry by bringing space tourism income and attracting private investment, experts said.

ChinaRocket Co. Ltd, a subsidiary of China Academy of Launch Vehicle Technology, the country's largest developer of ballistic missiles and carrier rockets, was established on Wednesday, marking the commercialization of China's space industry, the Xinhua News Agency reported.

"Chinese commercial space enterprises are lagging behind the global market due to lack of complete production chain in the commercial space industry and experience in commercial space activities like space tourism," Li Hong, president of the academy, said at a press conference on Wednesday.

"Commercializing rocket launches will help develop the industry as many private companies will be interested in the sector," Jiao Weixin, a professor at the School of Earth and Space Science of Peking University, told the Global Times on Thursday.

Jiao said the establishment of the company signals that State-controlled space industry is stepping into ordinary people's daily life.

Han Qingping, president of ChinaRocket, said at the press conference that the company would focus on keeping the cost 30 percent lower than an average launch through the "standardization of the interface between satellite and rocket as well as advance preparation."

According to Han, China will develop reusable sub-orbital vehicles in five to 10 years.

Han said the company will launch individual space travel services like "space taxi, free space ride and space shuttle bus" to promote the space economy.

According to Xinhua, ChinaRocket's individual space travel package would cost about $200,000.

Huang Jun, a professor at the School of Aeronautic Science and Engineering at Beihang University, said that "many countries have been studying the reusability of carrier devices and aircraft, but it will take at least one to two decades before visitors can afford a space trip."

The market value of commercial space in China would reach 30 billion yuan ($4.6 billion) annually by 2020, Xinhua reported, citing Hu Shengyun, a senior rocket engineer at China Aerospace Science and Industry Corp.

By Leng Shumei Global Times

China's atomic clock: The most accurate clock in the world

China's atomic clock: The most accurate clock in the world

China's cold atomic clock is the most precise time-keeping device ever built. The clock only weighs a couple kilograms and could fit comfortably in the boot of a car. And because it is powered by atoms, it won't have to be reset for another 30 million years.


https://youtu.be/zr-yLWLR6UE

China's cold atomic clock is the most precise time-keeping device ever built. The clock only weighs a couple kilograms and could fit comfortably in the boot of a car. And because it is powered by atoms, it won't have to be reset for another 30 million years.

Cold atomic clocks are the most accurate clocks in the world. Low-frequency lasers lower their internal temperatures to 273 degrees centigrade below zero, and slow down the movement of atoms inside. Slow-moving atoms decrease the likelihood of counting errors, and result in a more accurate counting of time.

"The frequency of the atom will not change. It is the same wherever it is. Unlike in mechanical clocks and electric clocks, atomic clocks aren't drastically affected by their surrounding environment. We are going to operate the most accurate cold atomic clock in space. It is the first time ever, not only for our country, but also for the world," Liu Liang, chief designer of Shanghai Institute of Optics and Fine Mechanics, Chinese Academy of Sciences, said.

Rubidium atoms count time inside China's cold atomic clock. Atoms are usually affected by gravity, but the low level of gravity in space will weaken the earth's gravitational pull and increase the accuracy of China's cold atomic clock.

"Atoms usually fall because of gravity, making it difficult to keep track of time for a long time. But up in space, we don't have that problem," Liu said.

The launch of Tiangong-2 marks China's transition from a follower in space research, to a pioneer. China's cold atomic clock project is a good example of that transition.

"The initial plan was brought up in 2006. We have made great efforts over the past ten years. We have been through a lot... and we have been successful" Liu said.

It took years of scientific work to get China's cold atomic clock into space. Researchers are now devising ways how to use the clock to benefit people down on earth.

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https://youtu.be/35B4d_3qCd0

Shenzhou-11 docks with Tiangong-2 space lab

More than 40 hours after lift-off, the Shenzhou-11 spacecraft has docked with the Tiangong-2 space lab. Astronauts Jing Haipeng and Chen Dong have moved into what will be their home in space for the next month.

Shenzhou-11 spacecraft docks with Tiangong-2 space lab

The Shenzhou-11 manned spacecraft successfully completed its automated docking with the orbiting Tiangong-2 space lab at 3:31 am Wednesday Beijing Time, according to Beijing Aerospace Control Center (BACC).

Shenzhou-11, which was launched Monday morning from northwest China's Gobi Desert, began to approach Tiangong-2 automatically at 1:11 am Wednesday and made contact with the space lab at 3:24 am.

The rendezvous took place in the orbit about 393 kilometers above Earth.

The two astronauts aboard Shenzhou-11, Jing Haipeng and Chen Dong, monitored and reported on the docking operation, relaying their findings to the control center.

According to the mission schedule, once they enter the space module, the astronauts will stay there for 30 days.

Shenzhou-11, China's sixth manned spacecraft, will undertake the longest-ever space mission in the country. The two astronauts will spend a total of 33 days in space.

Sun Jun, deputy chief engineer of BACC, told Xinhua that the precision needed for the orbit prediction and automated docking calculation was much higher than previous docking missions.

China is the third country, after the United States and Russia, to complete successfully space rendezvous and docking procedures.

Tiangong-2 was sent into space on Sept. 15. It is hailed as China's first space lab "in the strict sense" and a key step in building a permanent space station, which the country aims to accomplish by 2020.

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Philippine President Duterte in China for "Historic" Visit ; US Media Churlish!

Philippine President Rodrigo Duterte arrives in Beijing on October 18, 2016, beginning his state visit to China. [Photo: Chinanews.com]

 https://youtu.be/iWDQDWqZoyU


https://youtu.be/77qewVIdo3c

US media churlish on Duterte’s China visit

Philippine President Rodrigo Duterte's ongoing trip to China has been seen as a gamble by the American media. Their astonished reaction clearly shows the selfish considerations of the US and its Western allies on the South China Sea issue. They take Philippine willingness to be a loyal part of the US alliance system as granted.

While providing security to the Philippines, Washington treats Manila as a pawn. The alliance requires the Philippines to serve US interests. To Washington, the Philippines' value lies in providing military bases and legitimacy for the US containment of China in the South China Sea. As to the price Manila has to pay, it isn't a problem at all for Washington.

We don't foresee that the Philippines under the Duterte administration will break with the US. The majority of Chinese scholars on international strategy don't think it will ever happen. Duterte appears more to be striving for increased diplomatic autonomy. Instead of serving Washington's rebalance to the Asia-Pacific strategy, he is redesigning Philippine foreign policy based on Philippine interests.

Manila has shifted its China policy from one of confrontation during the Aquino era to being friendly and cooperative, as China's support is essential for its economic development. Washington needs Manila to stick to its geopolitical role, but 100 million Filipinos want a better life more.

The Philippines needs support to improve infrastructure, for which the US offers no help. Washington only sends soldiers and military equipment, but the security threat it paints is exaggerating to Filipinos.

Duterte's China visit burst the "China threat" bubble jointly blown by Aquino and the US. Arbitration and US aircraft carriers are useless in solving maritime disputes between Beijing and Manila. Friendly engagement and negotiations are more beneficial to the Philippines. Aquino was more like a gambler, betting that confronting China would win public support and that all ASEAN countries would follow the US. He lost the bet.

Development and cooperation are the major theme in Southeast Asia, but the US is pushing the region to the opposite pole for its selfish strategic gains. It is a costly strategy. Washington ties Manila and Hanoi to its chariot for its China-containment strategy in the South China Sea, but the latter could have more room to cooperate with China.

A BBC opinion piece expects Duterte to focus on the maritime disputes and re-evaluate the importance of the alliance with the US some day. Beijing does not expect the Philippines to swing fully to China, but we are also clear that the Sino-Philippine friendship is in line with the long-term interests of Duterte and the Philippines as a whole. That's enough. The US and Western mainstream media would be foolish to expect a Manila that is hostile to Beijing for Washington's South China Sea strategy. Such a scenario will probably not reappear during Duterte's term of office.

China should reciprocate Duterte’s overture

Philippine President Rodrigo Duterte embarked on his state visit to China today. This visit would have been unimaginable three months ago when the Philippines, as an initiator of the South China Sea arbitration and a key pivot of the US strategy of rebalance to the Asia-Pacific, was in sharp conflict with China over maritime disputes. Duterte has made a fresh start with Beijing-Manila ties and the nation's regional strategies after coming into office, and thus is widely regarded as a "subverter."

Duterte's straightforward way of speaking and acting has made a deep impression on the world. He extended the olive branch to China soon after taking office, making China the first country outside ASEAN for an official visit and speaking publicly in favor of Beijing. Now it's China's turn to receive his olive branch.

Since assuming office, Duterte reprioritized national affairs, taking the public's attention from the South China Sea back to domestic governance. Meanwhile, he insists on Manila's right to an independent foreign policy and opposes Washington's excessive control over the Philippines, which has riled the US. The announcement of a suspension of Washington-Manila joint patrols and military drills has particularly rocked this alliance.

The Philippines plays a special role in the South China Sea situation. Manila is Washington's ally and the most ideal pawn for Washington and Tokyo to intervene in the South China Sea issue. Duterte's predecessor Benigno Aquino III provoked strongly as he was backed by the US and Japan. Washington also counts on Manila to acquire legitimacy to launch South China Sea joint patrols. Once the Sino-Philippine relationship is returned to a friendly track, the US strategy of rebalancing will be undermined in the South China Sea.

Some are suspicious of Duterte's sincerity toward China. However, Duterte's policy has clear logic. China is his best partner in the anti-drug fight and for infrastructure construction. He is realistic and clear that the Philippines is only serving the US China-containment policy if it goes against China on the South China Sea issue.

Duterte's understandings on the Sino-Philippine relationship reflect his left-wing political ideas. Whether he can resist pressure from domestic pro-US forces is key to the issue.

We call on China to grasp this major strategic opportunity brought by the Duterte administration. At the moment, China can make more efforts to facilitate the turnaround of the bilateral relationship. Beijing-Manila ties suffered an overall retreat during Aquino's rule. Two-way trade dropped, Chinese tourist groups to Philippines stopped and fruit imports to China were affected. Changes are now happening.

The Philippine media has focused on the issue of fisheries around Huangyan Island. Duterte, under great domestic pressure, is strongly expected by Philippine media to bring a breakthrough on the issue.

Sovereignty is non-negotiable, but China can adopt a flexible policy on the Philippines' fishing rights. Filipino fishermen fish on a shoestring and are unlikely to jeopardize the ecosystem of China's waters.

A flexible fishing policy will bring the Sino-Philippine relationship to a new stage. As a major power, China should express its goodwill to Filipino fishermen and their president at this time. Washington's strategy of rebalancing to the Asia-Pacific has increased China's diplomatic and economic costs in Southeast Asia, and it is necessary for Beijing to reciprocate Manila for its clear stance of not willing to serve the US' China strategy.

It is more effective to address the disputes in a friendly, instead of a confrontational way. China should make this clear to the world to win more respect in the world.  - Global Times

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World doubts the leadership of Uncle Sam: expert

The culture of guns

As the US has lost more international status and influence since the global financial crisis in 2008, the international community is raising doubts about its leadership and ability to contribute to the world, an expert said, analyzing that such a decline of influence can be attributed to some deep-seated reasons, including its self-willed overseas military operations.

Since the financial crisis, the US can neither provide effective solutions to a host of global challenges, nor sustain its control over other countries, Zhang Ruizhuang, Director of the Center of American Studies at Nankai University, wrote in an article published in the People’s Daily on Sunday.

In the commentary titled “The City upon a Hill is not there any more,” he gave an in-depth analysis on the reasons of such changes.

Zhang says that “A City upon a Hill,” often cited by American politicians as their political creed, verified the self-labelling of the arrogant Americans as “God's Chosen Ones” to lead the world. After the Cold War, the preaching about the superiority of its values brought US much popularity and pulled the country to a commanding stage.

But it over-consumed its accumulated political capital during the last quarter of the 20th century, which resulted in a decline in its global influence, Zhang said, adding that the most destructive threat to its dropping status can be attributed to overseas military operations.

After the Soviet Union collapsed with the end of the Cold War, the US dominated the world and launched a series of capricious measures. With the excuse of protecting democracy, human rights and the world order, Uncle Sam trampled on the post-war international law based on the UN Charter and norms governing global relations by bringing the flames of war to many parts of the world.

Panama, Somalia, Haiti and Kosovo are all victims of such wars waged by the superpower. With a made-up excuse, it pulled Iraq into a war and this political farce finally brought the latter millions of civilian casualties, endless terrorist attacks and ceaseless disturbance.

What the US gained, after it paid a price of trillions of dollars for the war, was a hotbed for terrorist organizations which in turn threatened the security of itself and other Western countries. The war against Iraq ultimately turned out to be a foolish one that not only crumbled its diplomatic morality, but undermined its own strategic interests, Zhang concluded.

Despite the lessons, the US never gave up every opportunity to start “color revolutions.” Its attacks on Libya and Syria, once again, dragged these nations into raging wars. What’s worse, as a result of the wars, a number of regulation vacuums provided ISIS and other religious extremist organizations a bed in which to grow stronger.

The US, its Western allies, as well as the whole world, are now swallowing the sour fruits resulted from its self-willed deed, he added.

According to the scholar, apart from its frequent diplomatic mistakes, its economy, politics and society, in which the Americans once took pride, are all in a predicament, arising more doubts over the superiority of the US system.

The global financial crisis breaking out in 2008 exposed the defects of capitalism once again. It brought to light not only the failure of Keynesian policy to narrow the wealth gap and boost effective demand, but the greed and corruption of financial executives, the ineffectiveness of financial supervision, plus the government’s shielding of tycoons.

The US public felt shock, despair and anger towards such defects, and the ensuing “Occupy Wall Street” movement is one of their ways to express dissatisfaction. The protest wave later spilled to other part of the world, triggering worldwide query over the US system and its values.

Zhang also criticized US domestic politics, citing its notorious presidential election system as an example.

Manipulated by capital, the “winner takes all” election system in many states gives no chance to other newborn parties besides the two major parties. The American elections of the past two to three decades have been more like technical games.

The candidates now focus more on technical details for the sake of more votes rather than their political ideas and governance philosophies, and the whole process has fallen into personal attacks between the two candidates, he added.

Coupled with some other faults, the US and even the whole world began to question on the effectiveness of US democracy, as well as its leader selected in such a flawed way.

The article analyzed that one key reason for its flopping election lies in a lack of innovative governing ideas.

Barely stimulated by major crisis, US society tends to be mediocre and conservative about its ideas, the commentary further explained, adding that the prevailing philosophy of so-called “political correctness” also created an unfavorable environment for the candidates to come up with new ideas acceptable to the public.

Lack of foresighted candidates with outstanding capability is another reason for its unsuccessful election, Zhang wrote.

He explained that some capable politicians are not willing to embarrass themselves on the election stage at the cost of their privacy and that of their family as the butt of jokes.

“As a result, the world was presented with an election farce performed by the two unqualified and big-mouth candidates selected by the two parties,” the author concluded.

“It is obvious that the US is seeing a decline in terms of both prestige and influence, but such a drop is not so eye-catching as it has no strong competitors yet. It would be a complicated historic path,” the scholar said, calling for more attention to the course of the world pattern.

 (People's Daily)

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