Category Finance & Economics

Green Rubber Global, Saving Grace For Slowing Malaysian Economy?

Malaysia will soon become the global centre for recycled rubber and its by-products if Datuk Vinod Sekhar has his way.

The President and CEO of the Petra Group has set his sights on putting Malaysia on the global map for Green Rubber and in the process, revive Malaysia’s past glory where rubber was the main income earner for the country.

“With the introduction of oil palm estates as a cash crop, the importance of natural rubber in the economy reduced over the years.

“Today, nobody talks of natural rubber as an income generator, at least not on a major economic scale although we still have large rubber plantations,” said Vinod, whose father, was none other than the late Tan Sri Dr BC Sekhar, the father of Malaysian rubber research.

The elder Sekhar, who was also known as Mr Natural Rubber was the man behind the innovative uses of rubber. Through his research, rubber yields had improved several times to become a major economic force for Malaysia from the 60s to the early 80s.

Dr BC Sekhar had also initiate research into rubber recycling. This resulted in the patented DeLink process – the first of its kind to successfully enable rubber tyres to be recycled.

Upon his passing in 2006, his son, Vinod, took up his mettle and continued research into the DeLink process with a view to improve it and produce high quality Green Rubber.

It is this research that today has resulted in not just an upgraded DeLink process, but plants to be opened up – first in the US and now here in Malaysia, the country that made it all happen.

With over 1.3 billion tyres being discarded globally each year, the importance of the DeLink process or the Green Rubber Global plants cannot be understated.

It is believed that Vinod’s hard work to keep his father’s legacy alive will now result in rubber once again playing a major role in the national economy of the country. It would not be surprising if recycled rubber or Green Rubber becomes the saving grace for a slowing Malaysian economy.

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Need To Know: Applying for Platinum Credit Cards

A wide variety of credit cards exist in the world. Platinum credit cards are normal Visa and MasterCard credit cards that usually have special features. For example, a Platinum credit card may have a high balance or a ton of additional features such as zero fraud liability, auto rental insurance, online banking, points rewards and more. A consumer will see the complete details of a platinum card on the company’s website that is offering the card. An interested person will have to meet several criteria before applying.

 

Things to Know Before Applying for Platinum Cards

Platinum cards are for consumers who are over the age of 18. Minors may not apply for credit cards because they come attached to contracts. Anyone who applies for a Platinum card will also need to have a credit rating that is approved by the cardholder .A wide variety of credit card companies offer Platinum cards to consumers with good to excellent credit. It is advisable for a consumer to have a credit score of at least 640 for a Platinum card. A consumer can increase his or her credit score by obtaining a copy of his or her report before applying.

 

American Express Platinum Card

American Express Platinum Card

 

 

 

UOB Business Platinum Card

 

 

 

Barclaycard-platinum

 

 

 

Increasing a Credit Score for Platinum Status

A consumer can take several actions to increase his or her credit score for Platinum status. One step the person can make is paying down any existing credit balances. Another step a consumer can take to increase overall credit score is disputing any charges that seem inappropriate. Any consumer can obtain a copy of his or her credit report by requesting one from a credit bureau. Some credit monitoring sites also issue credit reports if a consumer is willing to sign up for their services. The credit score is free, and the consumer can monitor his or her credit score through such a site.

 

Switch-And-Save-With-Your-Credit-Card-Infographic-infographicsmania

 

 

The Platinum Card Application

A Platinum card application usually has three parts .The first part asks the consumer questions about his or her contact information and address. This section will request the applicant’s social security number, birth date, phone number and more. The second part of the application asks for the consumer’s financial information. This part may ask the consumer about annual wages, bank accounts, living status and the like. The last part of the application will display the card’s terms and agreements. It is very important that the consumer read all information in this section, as it will specify finance charges, annual APR and grace period.

A new applicant can receive an approval within 60 seconds in most cases. The credit card company will send an approved credit card to the consumer’s home within seven to 10 business days. Once the person actives the card, he or she can use it with a number of merchants. The new cardholder can begin making payments when the monthly bill arrives. A strong history of payments over time will warrant a credit increase and an improved credit score. Consumers can find more on Platinum cards for additional information.

 

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International Business Influence in Singapore

Singapore has become an international business mecca attracting business owners in search of a favorable business climate defined by low taxes, strict privacy laws and a stable government. Countries compete for business investment by offering the tax incentives, safe and relaxed lifestyle, stable government, and regulation-free climate that entrepreneurs appreciate. A recent CNN report predicts that Singapore will soon take over the number one spot as the best country for foreign investment.

 

 

 

Strict Privacy Policies

Privacy protection is at the core of why business executives are flocking to Singapore in record numbers, making it the fourth most popular offshore banking hub in the world. Strict penalties that discourage breaking privacy laws means Singapore is committed to protecting business interests at all costs. Other leading international business hubs are currently struggling to maintain privacy laws amidst growing pressure from government officials in favor of more liberal policies that allow for less protection.

 

 

 

 

Favorable Pro-Business Tax Policies

Exceptionally low personal and corporate tax rates remain a major reason for the influx of international business interests. There is no denying that one of the best ways to gain the attention of the global business community is to offer better tax rates than your competitors. Corporate tax rates are less than 9 percent for companies with profits of $300,000 or less, and top out at a low 17 percent for companies earning more than $300,000. Additionally, Singapore does not have a capital gains tax. The good news does not stop there, with attractive personal tax rates worthy of mention. The maximum personal income tax rate is 20 percent with a sliding personal tax rate that starts at 0 percent for the lowest wage earners.

 

Few Bureaucratic Business Restrictions and Red Tape

Rated by World Bank as the #1 country to do business in based on less red tape than all other countries, it is easy to understand why entrepreneurs are getting excited about Singapore. As compared to other countries, incorporating a business is simple and takes only one or two days. In other countries, it can takes weeks or even months to become a legal corporation and be allowed to start a business. For information about registering a business, visit www.company-registration.sg for detailed information about doing business in Singapore.

 

Summary

International businessess in Singapore enjoy an excellent lifestyle designed specifically for business executives and their families. Lifestyle factors should not be discounted as a big part of overall decision to relocate. As a progressive business hub with English spoken as the official language for doing business, it is not hard to adjust to the culture. Known worldwide as a country free from corruption and a motivated and well educated labor force, Singapore is a force to be respected. With universities ranking at the top of the list in the world, Singapore has taken its rightful place beside other world leaders as a cosmopolitan mecca worthy of attracting top business leaders interested in enjoying the many benefits offered.

 

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