Survey on Retirement Fund Adequacy in UK and Singapore

1. Two in five British workers aged 46 to 55 do not know how much they have saved for retirement, despite closing in on the age they can access their pensions for the first time.

2. Finding from a new study by insurance firm Aviva, which found that this age group is the most likely to not know how much they have saved in pensions.

Low Rates Of Business Claimants Winning Insurance Claims Dispute

1. A study of every court case related to primary business insurance disagreements between 2013 and 2018 shows that a whopping 68% went in the insurer’s favour.

2. It was also found that it takes an average of three years for commercial insurance disputes to be resolved, with settlements typically just three-fifths of the original amount claimed.

3. Nearly half of large claims are disputed, according to the research by governance experts Mactavish. 

4. Transport, manufacturing and construction the sectors most commonly affected.

Thailand FDI Tax Incentives

1. Thailand’s Board of Investment (BOI) offers a range of tax and non-tax incentives to foreign companies making investments that are deemed highly beneficial to the Thai economy.

2. The BOI announced a new seven-year investment promotion strategy (2015-2021) that offers special privileges to foreign investors.

3. Under the strategy, tax-based incentives are granted according to the group classification (A or B) for the activities and the merit of the project.

Views and Forecasts for Oleochemicals industry in Brazil and Mexico

1. Oleochemicals are obtained from bio-based resources, such as animal fats and plant oils, to provide sustainable and high-performance alternatives to petrochemical-originated products. 

2. They are used for production of solvents, lubricants, biodiesel, and bioplastics. As the price of crude oil increases, manufacturers prefer to switch from petrochemicals to oleochemicals, as they are plant-based sources and serve as an economical source. 

3. Oleochemicals are widely preferred in several applications, such as pharmaceutical, food & beverage, soap & detergent, and others, owing to the fact that they are biodegradable, environmental-friendly, and possess low toxicity.

4. Increase in demand for bio-degradable products and sustainable solutions and implementation of government regulations towards the use of environmentally-friendly products boost the demand for oleochemicals.

5. Several new applications of oleochemicals, such as biopolymers, biosurfactants, and biolubricants, which have emerged as substitutes for petroleum-based products, are expected to offer lucrative growth opportunities for the Brazil and Mexico oleochemicals market.

Views and Comments on Malaysia's Oleochemical Industry

1. Local oil palm companies are keen to invest further downstream from oleochemicals to oleo derivatives, but many are still hesitant given the good revenue derived from their core upstream business.

2. Attributed the slow take up rate to the perception that oleo derivatives business was capital intensive and involved some challenges.

3. Oleochemicals, Oleochemical Derivatives or Preparations are included in the list of promoted activities and products which are eligible for tax incentives considerations under the Promotion of Investment Act 1986 depending on the merits of each project.

Understanding Oleochemical Industry in China

STAGES OF GROWTH IN CHINA OLEOCHEMICAL INDUSTRY
1. Initial Stage: Before the 1990s, China oleochemical industry mainly developed its home-grown technology and was confined to soap production and soap co-products like stearic acid and glycerol. The production scale was small and the technology was relatively backward.

2. Developing Stage: From the 1990s to the early 21st century, China’s further reform and opening up policies had created a good economic and political environment. Through introducing the advanced technologies of Germany, Italy and other countries, the production scale of enterprises was greatly enlarged and the technical level was improved, which laid a good foundation for the development of China oleochemical industry.

3. Rapid Growth Stage: Since 2003, the influx of some large multinational groups (mainly referring to those of Malaysia and Singapore) had brought in the advanced technologies and business principles. Meanwhile, many domestic enterprises began to build up or expand production devices, which greatly enhanced their production scale and concentration. Hence, the oleochemical industry entered into a rapid development period.

Tax Incentives for Foreign Investment in Singapore - Part 2 - R&D

Continuation from previous posts. Tax incentives offered to the R&D Industry.

Tax Incentives for Foreign Investment in Singapore - Part 1

Singapore offers a wide range of investment incentives for investors including tax holidays and concessions, accelerated depreciation schemes, grants and favorable loan conditions to attract investments. The tax incentives and grants offered in Singapore are in the form of exemption from tax, reduction in the rate of tax or subsidies, and are available to a very broad range of industries.

Tax Incentives for Foreign Investment in Vietnam

Vietnam’s low wages have traditionally provided these cost savings; however, the country has also quietly developed one of the most competitive tax regimes throughout Southeast Asia. 

B10 - Part 2 - CPO Prices, Production Capacity and Specs of B10

1. At the moment diesel sold has a 7% palm oil content and is called B7. The Malaysia government is looking at increasing the blend to B10 this year, meaning 10% of palm oil content in diesel.

2. In Indonesia, the government has taken an aggressive approach and is now adopting a B20 policy.

3. Indonesia's policy created an additional 3 million tonnes of demand in a year.

B10 - Part 1 - Biodiesel implementation in Malaysia

1. The B10 blend that was slated to be introduced at petrol stations nationwide consists of 10% palm methyl ester and 90% regular diesel fuel.

2. Fuel stations currently sell the B7 blend (7% palm methyl ester). However, the implementation of the B10 blend will only affect Euro 2M diesel in Malaysia, while Euro 5 diesel will continue to be a B7 blend.

Impact from China's Plastic Scrap Ban

Information Compiled for Internal Newsletter Circulation

Plastic recycling is the process of recovering scrap or waste plastic and reprocessing the material into useful products. Plastic recycling includes taking any type of plastic, sorting it into different polymers and then chipping it and then melting it down into pellets.  Soft plastics such as polyethylene film and bags can also be recycled. 

Building Information Modeling (BIM)

BUILDING INFORMATION MODELING (BIM)
1. Building Information Modeling (BIM) is an intelligent 3D model-based process that gives architecture, engineering, and construction (AEC) professionals the insight and tools to more efficiently plan, design, construct, and manage buildings and infrastructure

Feeder Vessel and Feeder Ports

1. A feeder vessel is a vessel that “feeds” the large ocean vessels with containers. 

2. A feeder port is a port where the large ocean vessels normally don’t go. Partly because there are not enough containers to load onto a large ocean vessel or because the port is not large enough to handle the large ocean vessels.

3. Feeder ports and feeder vessels play a very important role in the worldwide transportation of containers. 

Freight Village: European Models

1. The “freight villages” (english designation) are called in different ways depending on the country:

“Interporti” in Italy;
“Transport Centres” in Denmark;
“Gunterverkehrszentren” in Germany;
“Zonas de Actividaedes Logisticas” in Spain.

2. The different experiences of achievement show differences in the organization of infrastructure and services that offer the same logistics platforms.

Inland Ports

1. Some countries imports a lot of goods, and these imports must enter the country through a few seaports. Often, these seaports become bottlenecks; in addition to offloading freight, they must function as distribution hubs. 

Impact and Opportunities From China's Plastic Scrap Ban

China is upending the global plastics market. The world’s biggest user of scrap has stopped accepting shiploads of other countries’ plastic trash as it phases in a new ban.

Insurance Sector Global Reports

Compilation of reports and outlooks for 2017 - 2018 covering the global market, Malaysia's Takaful and Vietnam's growing insurance sector.

Blockchain and the Insurance Industry

The financial industry is at a “crossroad” and risks future growth if it does not adapt to changing consumer behaviour. By embracing blockchain, insurers can benefit from more efficient underwriting, the development of bespoke products, and a smarter way to process and manage claims.

BNM's Comments on the State of Malaysia's Insurance

Key points from governor’s Keynote Address at the Malaysian Insurance Summit (MIS) 2017.