MONEY MASTER

KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak tabled Budget 2016 in the Dewan Rakyat on Friday. Najib, who is also Finance Minister, said the theme of the 2016 Budget is “Prospering the Rakyat”. The following are the highlights of his speech: * RM267.2bil has been allocated under Budget 2016, compared with the revised RM260.7bil in 2015. * There will be nine high-impact domestic projects worth RM6.7bil in total. * The first priority of Budget 2016 is to spur domestic investment to contribute 26.7% to the GDP in 2016. * The Budget aims to increase private investment to RM218.6bil and public investment to RM112.2mil. * The GST sum is to be credited into value of prepaid reloads from Jan 1 next year. * Personal income tax pushed to 26% from 25% for those earning between RM600,000 to RM1mil. Income tax is also pushed up to 28pc from 25% for those earning RM1mil and above. * RM900mil is proposed for the Jalan Tun Razak Traffic Dispersal Project to reduce congesti...

BUDGET 2016: NAJIB ALLOCATES RM267.2 BILLION Budget 2016 was tabled by Prime Minister Datuk Seri Najib Razak last Friday, with the theme "Prospering the Rakyat", allocating RM267.2 billion compared with the revised RM260.7 billion in 2015.  BUDGET 2016 Among his measures to boost revenue was to raise taxes on the country’s richest individuals. Those earning RM600,000 to RM1 million annually will be taxed at 26% from 25% now, while those earning more than RM1 million a year will pay a rate of 28%. In its 2015/2015 economic report, the government forecast that GDP would grow 4% to 5% in 2016, from 4.5% to 5.5% this year. It sees the fiscal deficit narrowing to 3.1% of GDP in 2016 from a revised 3.2% this year. WCT GETS TRX CONTRACT, BUYS TRX LAND   1MDB is on the spotlight again, as 1MDB Real Estate Sdn Bhd has awarded WCT Holdings Bhd a RM754.8 million contract to build infrastructure and roadway works for the Tun Razak Exchange (TRX). WCT’s indirect unit, WCT Pr...

WAHID: 1MDB issues to be resolved in 2 months 1MDB issues will be resolved in 2 months Minister in the Prime Minister's Department, Datuk Seri Abdul Wahid Omar said in an interview with TV3 last Wednesday, "Prime Minister (Datuk Seri Najib Razak) issued a statement before this, saying that the issues related to 1MDB will be resolved in six months, meaning by end of this year." This means that in another 2 months, 1MDB issues will be resolved.  AMPANG PARK TO MAKE WAY FOR MRT STATION Ampang Park in the 70s and now The oldest shopping centres in Kuala Lumpur, Ampang Park Shopping Centre will soon be demolished to make way for the MRT station. The land on which the shopping centre stands is in the process of being acquired by the government under the Land Acquisition Act 1960 for the purpose of constructing the MRT Sungai Buloh-Serdang-Putrajaya Line. The mall was the brainchild of the Low brothers, following their successful development of People's...