Maxis invites Penangites to unique interactive digital experience

July 08, 2022. KUALA LUMPUR, Malaysia.

As part of Rangkaian Kita, Rangkaian Malaysia, visitors to the showcase can digitally create individualised, unique batik motifs, and see it come to life on an immersive projection wall!

• Visitors can digitally create individualised, unique batik motifs and see it come to life on an immersive projection wall

• Test real-time AR technology, take part in games and win attractive prizes, discover a variety of Maxis promotions

• Batik showcase part of Rangkaian Kita, Rangkaian Malaysia campaign, which celebrates the diversity and unique requirements of Malaysians from all walks of life and empowering them with Maxis’ all-ways connected network

With the long weekend around the corner, here’s a treat that Penangites can look forward to: As part of Maxis’ Rangkaian Kita, Rangkaian Malaysia (RKRM) campaign that was launched earlier this year and in celebration of Malaysia’s rich diversity of communities, Maxis invites the public to a one-of-a-kind interactive experience at Queensbay Mall, Penang, and to discover the wonderful possibilities of technology and creativity.

Visitors to the showcase can digitally create individualised, unique batik motifs, and see it come to life on an immersive projection wall! In addition, they can also test out real-time Augmented Reality (AR) technology at a virtual AR photobooth, take part in games and win prizes, as well as discover a variety of ongoing Maxis promotions in person at pop-up kiosks.

The Penang showcase which is being held from 7 – 11 July, is part of series of Maxis’ Batik Rangkaian Malaysia roadshow taking place in various locations across the country.

“We are really excited to have Penang as one of the stopovers of our showcase. Penang has always been an important region for Maxis and we remain committed to supporting consumers and businesses in this region and empowering them with our all-ways connected network and digital solutions. The batik creation hub and digital showcase is simply our way of celebrating and appreciating the diversity and unique requirements of Malaysians from all walks of life,” said Leonard Chin, Maxis’ Head of Northern Region.

The Penang showcase is the sixth stop of the nationwide roadshow. Before this, the batik showcase has travelled to Kuala Terengganu, Kota Bharu, Kuantan, Kota Kinabalu and Kuching.

The following are schedules for the upcoming showcases:

Earlier this year, Maxis launched its RKRM brand campaign as a commitment to empowering all Malaysians and businesses in the country to be connected in every possible way, at all times. RKRM represents the reinforcement and deepening of Maxis’ Always Be Ahead brand purpose. It is a campaign driven by its evolution from a mobile telecommunications provider into a connectivity and digital solutions expert that offers solutions for every segment, powered by its leading 4G network and fibre coverage as well as the best 5G innovation.

To learn more about Rangkaian Kita Rangkaian Malaysia, watch our film which showcases Maxis’ initiatives over the years in connecting a diverse network of communities. For more information on the campaign, please visit: https://www.maxis.com.my/network

DOES THE UAE HAVE INCOME TAX NOW?

May 31, 2022. DUBAI, UAE.

What does the announcements on UAE Corporation Tax mean for tax on income there?

On 31 January 2022, the UAE Ministry of Finance (MoF) announced that the UAE would introduce a Federal Corporate Tax on business profits. According to the implementation plan, Corporation Tax will be levied for financial years starting on or after 1 June 2023. UAE Corporation Tax will apply to all UAE businesses and commercial activities except those involving the extraction of natural resources, including oil and gas.

The MoF announcement on the subject, stated all activities undertaken by a legal entity would be deemed to be ‘business activities’ and therefore would be covered under Corporation Tax. Although, it is relevant to note that dividends and capital gains earned by UAE businesses from their specified ‘qualifying shareholdings’ will be exempt from it.

Foreign entities and individuals will also only be subject to UAE Corporation Tax if they conduct trade or business in the UAE in an ongoing or regular manner.

INDIVIDUAL'S INCOME

UAE Corporation Tax will not apply to an individual’s salary and other employment income (in both the public and private sector). In addition, interest and other income which has been earned from bank deposits or saving schemes will not be subject to the Corporation Tax regime.

Similarly, dividends, capital gains and other income earned by individuals from owning shares or other securities in their personal capacity would also be treated as being outside the scope of UAE Corporation Tax.

Nevertheless, it is understood that an individual’s activities could be considered and therefore be subjected to UAE Corporation Tax if an individual has (or is required to have) a business licence or a permit, including a freelance licence or permit, in order to be able to conduct such activities in the UAE.

In such cases a freelancer will not be taxed on the income they generate as a salary, but the company or licence which hosts their visa will be taxed on their net profit. There is also an outstanding question as to whether an individual, say a tax adviser operating under a profession rather than business licence would be liable. However, the MoF has already stated that an individual’s investments in real estate (in their personal capacity), which does not require a commercial licence or permit to be carried out, would not fall under the scope of the Corporation Tax.

THRESHOLDS AND RATES

As a result of the introduction of the Corporation Tax in the UAE, an individual’s business income up to 375,000 AED will be taxed at 0%.

The Corporation Tax rate will then increase to 9% for taxable income above 375,000 AED. This rate of 9% which is currently been cited would position the UAE as the lowest rate of Corporation Tax in all Middle East countries.

There will also be a special rate which will be applied to so called ‘large multinationals’.

These ‘large multinationals’ will be defined as having consolidated global revenue exceeding Euro 750 million equivalent to 3.15 billion AED).

However, the UAE MoF has yet to announce the tax rate which will be applied to these so-called ‘large multinationals’. Although at present the rate for large multinationals is expected by some commentators to be 15%, as per Pillar Two of the OECD Base Erosion and Profit Shifting (BEPS) project.

WHAT'S NEXT

Perhaps not surprisingly, following this groundbreaking announcement by the UAE Government that Corporation Tax is definitely coming to the UAE, there has been a lot of speculation in many quarters that the UAE Federal Government could also be about to introduce individual income tax in the UAE.

However, in an interview on 21 February 2022, His Excellency Dr Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade clarified that the UAE will not introduce an individual income tax for the time being. In addition, in relation to the potential introduction of an individual’s income tax, the Minister stated that , ‘It is not at the table at all now’.

Therefore, starting from 1 June 2023, only income which is derived from activities undertaken by legal entities or by individuals in possession of a licence will be subjected to the UAE Corporation Tax. In addition, those foreign entities and individuals which conduct trade or business in the UAE in an ongoing or regular manner will also fall under the new UAE Corporation Tax regime.

Contact Us

Markus Susilo

Partner, Tax Advisory

009714 220 0198

AWARD OF S$3 MILLION SECURITY SERVICES CONTRACT BY SEMBCORP INDUSTRIES LTD

May 19, 2022. SINGAPORE.

The Contract is not expected to have any significant impact on the earnings per share and net asset value per share of the Group for the financial year ending 31 December 2022.

The board of directors (“Directors” or “Board”) of Secura Group Limited (the “Company”, together with its subsidiaries, the “Group”) is pleased to announce that in connection with the letter of award dated 10 May 2022, Soverus Pte. Ltd., a wholly-owned subsidiary of the Company, had on 19 May 2022 entered into a twenty-four (24) month contract (“Contract”) with Sembcorp Industries Ltd to provide unarmed security services for an amount of approximately S$3 million. The Contract is effective from 1 August 2022 to 31 July 2024.

The Contract is not expected to have any significant impact on the earnings per share and net asset value per share of the Group for the financial year ending 31 December 2022.

As at the date of this announcement, including the Contract, the Group has an order book of approximately S$56.8 million for contracts from security guarding, of which approximately S$21.8 million is expected to be fulfilled by 31 December 2022 and the remainder by August 2026.

None of the Directors or controlling shareholders of the Company, or their respective associates, has any interest, direct or indirect, in the Contract, other than through their respective shareholdings in the Company.

BY ORDER OF THE BOARD

Kan Kheong

Ng Executive Director and Chief Executive Officer

19 May 2022

This announcement has been prepared by the Company and has been reviewed by the Company’s sponsor, United Overseas Bank Limited (the “Sponsor”), for compliance with Rules 226(2)(b) and 753(2) of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST. The SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact persons for the Sponsor are Mr David Tham, Senior Director, Equity Capital Markets and Ms Priscilla Ong, Vice President, Equity Capital Markets, who can be contacted at 80 Raffles Place, #03-03 UOB Plaza 1, Singapore 048624, telephone: +65 6533 9898.

Source Link: https://www.securagroup.com.sg/wp-content/uploads/2022/05/Secura-Awarded-3m-security-services-contract.pdf