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aws账号(www.2km.me)_Business news summary Oct 4-9

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Statistics from the Inland Revenue Board (IRB) reveal that in essence, less than 20% of Malaysian are subjected to income taxes.

Covid-19

Pfizer/BioNTech Covid-19 vaccine effectiveness drops after 6 months -study

The effectiveness of the Pfizer Inc/BioNTech SE vaccine in preventing infection by the coronavirus dropped to 47% from 88% six months after the second dose, according to data published on Monday that U. S. health agencies considered when deciding on the need for booster shots. The data, which was published in the Lancet published medical journal, had been previously released in August ahead of peer review. The analysis showed that the vaccine's effectiveness in preventing hospitalization and death remained high at 90% for at least six months, even against the highly contagious Delta variant of the coronavirus. Singapore opens quarantine-free travel to major countries, eyes Covid-19 'new normal' From Oct. 19 fully vaccinated people from eight countries, including Britain, France, Spain and the United States, will be able to enter the island without quarantining if they pass their Covid-19 tests, the government said on Saturday. The Southeast Asian nation, one of the world's biggest travel and finance hubs, is home to Asian headquarters of thousands of global companies whose executives have long relied on Singapore's connectivity. The country, with a population of 5.45 million has been reporting record daily Covid-19 infections of more than 3,000 over the past few days, though almost all the cases are asymptomatic or mild. Corporate News

Property tycoon sits on US$9bil debt mountain

THE email lit up inboxes at six of the world’s biggest banks. A wealthy businessman by the name of Cevdet Caner, the anonymous sender wrote, seemed to be headed for trouble. Or rather, headed for trouble again.

M&A to list on Bursa with reverse takeover of SYF

Under the proposal, Insas will dispose of its 100% equity stake in M&A to SYF, comprising 100 million ordinary shares and 60 million redeemable convertible preference shares, in exchange for 1.58 billion new SYF shares, valuing M&A at RM222mil. Upon completion of the proposed M&A disposal, SYF will see a name change to M&A Capital Bhd, which will be principally involved in the business of financial services via M&A Group. As part of the overall proposal to transform SYF into a financial services group, SYF has proposed to dispose of its rubberwood furniture manufacturing arm, and two parcels of lands in Cheras for a total consideration of RM71.2mil cash. Economy

Boosting the logistics sector

This is necessary given that Malaysia had fallen behind in the World Bank's Logistics Performance Index (LPI), where the country saw its position drop to 41 out of 160 countries - compared with its ranking of 25 in 2014 and 32 in 2016. The recent LPI 2018 report saw three Asean countries being ahead of Malaysia - Singapore (2), Thailand (32) and Vietnam (39) - while Indonesia (46) is fast catching up. He pointed out that while this is lacking, Malaysia still had an advantage in its infrastructure as it is among the best in the Asean region.

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