It’s eFiling Month. Time for Income Tax (LHDN) Submission

It’s April 2011, and similar to the past Aprils, millions of Malaysian taxpayers will be busy streamlining their 2010 income and preparing for the inevitable – paying the due to the tax collectors, the Inland Revenue Board, IRB or the LHDN (Lembaga Hasil Dalam Negeri).

The deadline for the normal employees (non-business) submission is 30 April 2011.

eFiling has been introduced a couple of years back to let the taxpayers self assess and submit their income tax statement online, from the comfort of their home. People forget easily, so after one year, of course, there will be questions such as: How do I use eFiling? I forgot my pin, what to do now? Et cetera.

If you are new, or have forgotten how to use the eFiling system, no worries, we still keep the article: How to Submit Your Tax Form Through eFiling. In case of other problems, you can always contact the nearest LHDN branch or use the online form as provided.

It is important to note that, as the deadline draws near, more and more people will be logging in into the system, jamming the server and possibly crash the whole system. Cases of the eFiling systems crashing down are not new, so extra precaution is advisable. This year’s eFiling users can simply cross the 5 million mark.

Slower Salary Growth for Lower Income Group

The salary growth in Malaysia is not in favour of the lower income group, statistics revealed. According to the Human Resource Minister, Datuk Dr. S. Subramaniam, the slowest salary growth is faced by 40% of the households who are at the bottom of the wage scale.

The average earning for this group did not reach RM1,500 per month in 2008.

In contrast, those who belong to the higher income group enjoyed a more steady salary increase, in tandem with the elevating standard of life and cost of living (however, you would somehow agree that the increase is not up to the expectation though. Read on.).

A survey carried out by the World Bank indicated that the salary increase in Malaysia recorded a 2.6% growth over a period of 10 years, far cry from the rise of cost of living throughout similar period.

Another study by the HR Ministry in 2009 discovered that more than 30% of the 1.3 million employees surveyed earned less than RM700, putting them below the poverty line, which averages at RM720.

Not very encouraging figures.

Robert Kuok Still Richest Man in Malaysia

Robert Kuok maintains its status as the richest man in Malaysia with a total worth of staggering RM50.04 billion. He has been the country’s richest man for many years in a row.

The latest 2011 list was compiled by the Malaysian Business (MB) magazine. MB is a prime business magazines that specialized in the analysis of businesses, financials and entrepreneurial aspects, mostly within Malaysia context. Every year, the magazine publishes and ranks the wealthiest businessmen and women in the country.

Richest Man in Malaysia: Robert Kuok
The Richest Man in Malaysia: Robert Kuok

Media tycoon, T. Ananda Krishnan (Maxis, Astro, TGV), is ranked the 2nd richest with RM45.78 billion worth of asset. Teh Hong Piow, the Public Bank chairman was third with a reported fortune of RM12.77 billion.

Three of the richest 20 in Malaysia come from the Bumiputra ranks, namely Syed Mokhtar Al-Bukhary (various businesses – property, defense, logistics and retail), Azman Hashim (Ambank) and Tun Mahathir’s son, Mokhzani (Kenchana Petroleum).

Known as the “sugar king”, Robert Kuok made his fortune through the sugar business, stamping his authority as one of the largest sugar distributors in the country. The success of his sugar business allowed him to venture into other businesses that include hospitality (he controls the Shangri-La hotel chain), shipping, oil and gas, logistics and milling, and slowly yet surely climbing up to eventually become the richest man in Malaysia.

[image: Forbes]

Google Open Malaysia Office

Google open Malaysia office, looking for talents

Google has opened up its Malaysia office and is poised to embark to recruit a number of local talents soon. To be operating in the country’s capital, Kuala Lumpur, it will be the company’s second office in Southeast Asia after Singapore. The Singapore office has been operating since 4 years ago.

Google Open Malaysia Office

Local smart, analytical and out-of-box thinkers and talents can look forward to working with one of the world’s most admired companies.

The move is also aligned with the internet giant to offer wider platform for advertising, web services and search experience to Malaysian users and businesses. According to Google Southeast Asia chief, Julian Persaud, Malaysia has one of the largest percentage of users for the company’s flagship browser, Chrome, with more room for growth.
At the moment, Google is operating through more than 60 offices worldwide, with its global headquarted located in Mountain View, California.

Google was founded by two guys, Larry Page and Sergey Brin, who were doing their PhDs in Stanford University, USA. Its trademark product, the Google Search, processes more than 1 billion search requests per day, backed with over 1 million servers around the world. Google has also acquired other prominent websites that include YouTube, Blogger and Orkut.

In addition to acquisitions, Google itself has come up with a string of eye-opening products and services that include Gmail, Analytics, Chrome browser, Buzz, Android operating system, Google Maps and so on.

Google has been named as the best company to work for a few times.

Image: Kosmo.com.my