|PRESIDENT WEBSITE MESSAGE - DECEMBER|
MBAM Annual Golf Tournament 2010
The MBAM Annual Golf Tournament 2010 that was held on Sunday, 21st November 2010 was a success. I would like to take the opportunity to thank all sponsors, participants and the Organizing Committee Members of MBAM Annual Golf Tournament 2010. I hope more members will participate in this event next year.
Construction Industry Payment and Adjudication Act (CIPAA)
The construction industry players submitted a joint memorandum to PEMUDAH and copy to our Prime Minister, Minister in PM Officer (Law), Minister of Works, Minister of Housing & Local Government and Attorney General to re-examine several directives by the Attorney-General pertaining to CIPAA and hope that the Government will do the necessary to defend and protect the interest of the construction industry players. The problems and interests of the construction industry must be the paramount consideration in the enactment of the CIPAA.
We are pleased to inform members that further to the appeal made by the Building Industry Presidents’ Council (BIPC) to PEMUDAH on the stamp duty act ruling, we have received a copy of the letter reference CR(8.09)248/39/7-217 JLD.9(SK.1)(21) dated 20 December 2010 from the Ministry of Finance with regards to the above subject matter. The letter stated that in line with the provisions under section 80(2), Stamp Duty Act 1949, the YB Minister of Finance has decided that the stamp duty policy on service agreements (including construction contracts) will be as follows:-
Service agreements signed at other levels will be imposed a flat rate RM50.00 stamp duty. In summary the above means as follows:-
Invitation to Participate in Malaysia Services Exhibition 2011
We are pleased to inform that MATRADE will be organizing the Malaysia Services Exhibition 2011 in Abu Dhabi, United Arab Emirates from 17th - 20th April 2011. The event will be held in parallel with City Scape and City Build Abu Dhabi 2011 at the Abu Dhabi National Exhibition Centre (ADNEC). MATRADE is inviting all MBAM members to participate in MSE 2011. The participation fee is RM1000.00 per company, (to be paid by crossed cheque made payable to “Ketua Eksekutif MATRADE”). The fee will be used to cover the administrative costs in arranging the event. Members who are interested are requested to complete the registration form and fax or email to MATRADE before or by 3rd January 2011. The form can be downloaded from MBAM website.
The Association will continue to pursue issues that are relevant to MBAM members and hope members will provide constant feedback on issues affecting contractors on a regular basis.
I would like to take this opportunity to wish all our Members a Happy & Prosperous 2011!
Kwan Foh Kwai, JMN