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Sunday, October 23, 2016

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

Related:

Budget 2017 Archives - BAJET Malaysia

www.bajet.com.my/category/budget-2017/

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2017 Budget: New corporate tax scheme for SMEs

http://www.thestar.com.my/business/business-news/2016/10/21/2017-budget-new-corporate-tax-scheme-for-smes/

Friday, October 21, 2016

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 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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Rendez-vous By Wang Xiaoying

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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