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Financial issues and impacts of construction industry in Kedah and Perlis
Get PDFEvery stage of a construction project has a time and cost aspect. Project delays are normal and frequently happen in the construction industry. A short delay can be costly in the long run. It will have an effect on all those involved. Delays have a massive impact on completing deadlines for projects, managing cash flow, and maintaining the appropriate level of quality. This paper aims to identify the financial problems facing by the contractor of construction sector and their effects on the projects in Kedah and Perlis. The goal of the study was to identify the options and tactical approaches that may be used to address these financial issues, as well as to analyse the causes, consequences, and repercussions of these issue. Six respondents who
were chosen based on their expertise and skill in managing building projects in rural areas with more than 10 years of experience participated in structured interview sessions utilising standard structured questions. This research reveals that the critical financial issues in Kedah and Perlis of the construction industry are the withholding of payment by the approval parties, lack of cash flow management, past due payment received from the client, difficulties in obtaining funds from financial institutions, and inflation. The main impact when the financial issues occur is where the project is delayed, postponed, higher project cost (overrun budget), and poor workmanship. Ways to grow the cash flow, budget, payments from clients, and capable stakeholders were among the recommendations made to enhance and resolve the financial issues encountered, meaning that all of these things had to take place earlier stage in the construction process
Global anti-base erosion (GloBE) Rules: Expected implications on multinational entities’ effective tax rate in Malaysia
Get PDFThis study was carried out to identify expected implications on multinational entities (MNEs)’ effective tax rate (ETR) in Malaysia from the implementation of Global Anti-Base Erosion (GloBE) Rules under Pillar Two. The level of ETR of MNEs in Malaysia for a period of five years from 2016 to 2020 has been calculated and compared with the Statutory Tax Rate (STR) of 24% and then further compared with the Global Minimum Tax (GMT) rate of 15%, as stipulated in GloBE Rules under Pillar Two. Several interview sessions were also conducted with IRBM staff in order to get their initial insight on the Globe Rules under Pillar Two which will be implemented in Malaysia. The results of the ETR calculation show a low rate compared to the STR of 24% and are found to be in line with the findings of previous studies, giving an indication of the existence of tax planning activities by MNEs in Malaysia. However, the calculated ETR shows a higher percentage compared to the GMT rate of 15% and therefore indicates that in such of scenario, MNEs in Malaysia which are included in the scope of GloBE Rules under Pillar Two are not liable to pay top-up tax. This study applies institutional theory and describes Malaysia's decision along with other countries to join the IF and participate in the implementation of BEPS. Although the ETR calculation results in this study are only a simulation and less accurate due to limited access to MNEs’ data in Malaysia, at least it provides information on the expected implications of implementation of GloBE Rules under Pillar Two in Malaysi
Pengaruh tadbir urus korporat dan struktur hutang terhadap prestasi syarikat-syarikat awam tersenarai di Malaysia
Get PDFCompany performance is one of the key issues in a company. Strong company performance will provide opportunities for investors, owners and suppliers to create jobs as well as increase the company's wealth. The purpose of this study is to find out how corporate governance and debt structure affect the performance of companies and to examine the characteristics of the company’s chairman which may moderate the relationship between corporate governance and the performance of companies listed on Bursa Malaysia. Data were collected from Thomson Data Stream provided by Sultanah Bahiyah Library of Universiti Utara Malaysia. The study population consists of the companies listed on Bursa Malaysia from 2013 to 2016. The sampling was done using purposive sampling method for 470 sample companies. Panel Corrected Standard Errors regression was applied for testing the hypotheses developed in this study. The results showed that the size of a board member, size of an independent board member, the duality of chief executive officer and frequency of board meetings have a positive significant effect on company’s performance. The study also found that short-term debt, long-term debt and total debt have positive and significant effects on company performance. However, directors’ ownership and tenure have a positive but insignificant relationship with company performance. Age became the moderating variable between corporate governance against Return on Assets and Return on Equity, but not against Tobin’s Q and value-added intellectual capital, while education moderates the relationship between corporate governance to Tobin's Q. The findings provide an in-depth overview of corporate governance reform regulators and policymakers in Malaysia to review and strengthen existing corporate governance codes. In addition, the study also provides important input to shareholders, financial analysts, corporate managers and the academic community to better understand the impact of corporate governance on company performance
Examining financial attitude, personality traits and mediating factor of financial literacy towards level of indebtedness
Get PDFThis study attempted to examine the relationship between financial attitudes, personality traits and mediating factors of financial literacy with the level of indebtedness. The survey involved 600 respondents who visited Credit Counselling and Debt Management Agency (AKPK) Kuala Lumpur Branch to restructure their existing loans with various financial institutions. 600 self-administered questionnaires were distributed, from which only 480 were used for further analysis. The data were analysed through Structural Equation Modelling (SEM) using the AMOS (Analysis of Moment Structures) software. This study found that financial attitude was significantly and negatively correlated with the level of indebtedness. This finding indicated that with a positive financial attitude, the level of indebtedness could be reduced. Besides that, financial literacy mediated the relationship between financial attitude and indebtedness; however, the mediating effect was small. The latent constructs for personality traits in this study, which consisted of formative constructs of agreeableness, extraversion, conscientiousness, neuroticism, and openness to experience, were found to have significant correlations with the level of indebtedness; however, the relationships were weak. Neuroticism had the weakest relationship with the level of indebtedness. This indicated that neuroticism was associated with a low level of indebtedness as compared to other traits. Additionally, financial literacy was also found to mediate the relationship between personality traits and the level of indebtedness. The main contribution of the study was in determining the influence of psychological factors besides financial literacy towards the level of indebtedness. The study's limitation was that it involved respondents who were presumably having financial problems who came to AKPK to restructure or reschedule their existing loans with banks and financial institutions. For future research, the same model can be applied to other populations in different geographical areas
Factors influencing aggressive tax planning among companies listed on the ace market: The moderating effect of non-audit services fee
No full textGlobally, aggressive tax planning (ATP) has been acknowledged as an ongoing serious concern as it affects government coffers. Therefore, governments have to confront the issues of ATP to avoid huge losses in government revenue. The major purpose of this study is to investigate the factors that contribute to ATP conducted by companies listed on the ACE Market in Bursa Malaysia. This study empirically examines the relationships between company size, profitability, leverage, capital intensity, inventory intensity, financial distress and ethnicity and ATP. As a new contribution to ATP knowledge, the moderating effect of non-audit services (NAS) fee on the relationships is also examined. Data was obtained from DataStream software and companies’ annual reports. Using panel data analysis, the findings showed that profitability and financial distress had significant relationships with ATP. Meanwhile, other variables, namely company size, leverage, capital intensity, inventory intensity, and ethnicity, were insignificant and were not associated with ATP. Additionally, this study provided evidence that integrating the NAS fee as a moderator strengthened the ability of the model to explain the predictors of ATP. The result showed that the NAS fee significantly moderates the relationships between all the variables investigated and ATP, except for capital intensity. This study concluded that profitability and financial distress were the most influential factors that contribute to ATP among companies listed on the ACE Market. NAS fees also played a significant role in moderating certain factors towards ATP. Consequently, the results of this study provide insights to the authority on the factors that influence ATP and could be useful in formulating regulations that minimise potential tax revenue losses
The mediating effect of job satisfaction on the relationship between employer branding, violence prevention, work-life balance, compensation and employee retention
No full textDoctor retention is a key concern for a country like Pakistan, where the population is increasing at a high rate and the population–doctor ratio is decreasing simultaneously. Therefore, the main aim of this study is to address the key issues faced by doctors in Pakistan and the factors influencing their retention. This study proposed four variables: employer branding, violence prevention, work-life balance, and compensation as the determinants of employee retention. This study also investigated the mediation effect of job satisfaction on the relationships between employer branding, violence prevention, work-life balance, and compensation with employee retention. A total of nine direct hypotheses and four mediation hypotheses were proposed. The population of this study comprised of doctors working in public hospitals in Azad Jammu and Kashmir, Pakistan. Since data was collected during the COVID-19 pandemic, the convenience sampling technique was employed. A total of 357 respondents were involved in the study. Data were collected using self-administered questionnaires distributed through personal visits and Google links. Statistical Package for the Social Sciences (SPSS) and Partial Least Squares Structural Equation Modelling (PLS-SEM) were used for data analysis. The results indicated that employer branding, violence prevention, work-life balance, and compensation had significant positive effect on employee retention. Results also showed the mediation effect of job satisfaction for all the proposed mediation relationships. The results of this research are intended to aid policymakers (health ministry and hospital administration), doctors and researchers in establishing effective measures to improve employee retention in developing countries such as Pakistan
The Effect of Dividend Policy on Share Prices of Bursa Malaysia Listed Companies
Get PDFThe effect of dividend policy on share price movement is one of the most hotly disputed topics in corporate finance. The share price has been the most common starting point for investors when make decision to buy share because it represents all aspects, both internal and external factors. There are various empirical studies that researchers can refer to in order to examine and analyse the effect of dividend policy on share prices, however the results are inconsistent. This study is focused on this issue. The purpose of this study is to look at the effect of dividend policy on the share price of companies listed on the FTSE FBM100 index from 2011 through 2020. The dependent variable is share prices whereas dividend payout, dividend yield, return on invested capital, free cash flow yield, volume traded, and company size based on market capitalization are independent variables. The number of the samples in this study are 56 companies by using the regression model. According to the results of panel data regression model indicates that dividend payout has an insignificant effect on share prices, however, dividend yield has negative and significant effect on share price. Return on invested capital, volume traded, and company size by market capitalization are significant effect on share price while free cash flow yield is insignificantly effect. As a result, we find that dividend policy has considerable impact on share prices, demonstrating that dividend policy is important. The findings of this study are expected to serve as a reference for companies in establishing dividend policies that will improve company performance and for investors in considering whether it should retain, increase or decrease their stake in the company
Takaful standards and customer perceptions affecting Takaful practices in Malaysia
Get PDFThe objectives of this study is to investigate the factors of perceived benefits of sales promotion, perceived adequacy of premium, perceived adequacy of information, and perceived quality affect customer perceptions toward Takaful practices in Malaysia. This study mainly used questionnaires to collect evident whereby the data have gathered based on the answer from the respondent. This data analysed using Statistical Package for Social Sciences (SPSS) Version 23 software. The collected data analysis based descriptive analysis, factor analysis, reliability analysis, correlation analysis and regression analysis. Based on finding, the factors perceived benefits of sales promotion, perceived adequacy of information and perceived quality are the essential factors that significantly influences customer perception toward Takaful practices in Malaysia. The Perceived adequacy of premium is factors that are not significantly influence customer perception toward Takaful practices in Malaysia. Henceforth, the Takaful industry needs to aim on factors such as sales promotion, adequacy of information and quality of service of Takaful companies to be equally successful in the insurance industry
Issues and Challenges Faced by Farmers in Paddy Cultivation: A Case Study of Crop Reinsurance Scheme Proposed by Agrocaptive in Malaysia
Get PDFPaddy is regarded as the most significant crop in Malaysia as the great majority of the population’s staple food is rice and paddy crop serves as the community’s main source of income and survival, particularly for landless agricultural labourers and small-scale farmers. Following this, the research objectives of this study were twofold: 1) identifying the issues and challenges faced by farmers in paddy cultivation and 2) examining the impact of crop reinsurance scheme to AgroCaptive. Using qualitative research design, data was collected through semi-structured interview with the two project managers in charge of Crop Insurance Scheme in AgroCaptive, Malaysia. Findings indicate that the major losses faced by farmers is flash flood and heavy rainfall which destroys their paddy land thus, crop insurance is necessary to compensate for the losses. The current coverage provided to paddy farmers are not sufficient to pay for their huge losses and farmers are only willing to pay for the crop insurance with small amount of premium. Therefore, introducing Crop Insurance Scheme to the farmers where the premium subsidized by the government will increase the output of the paddy. AgroCaptive The reinsurance scheme protects the AgroCaptive to compensate the catastrophic losses of paddy cultivation and planting costs. However, educating the marketing agencies as well as farmers about this crop insurance scheme is a crucial too. As a result, this research provided a more in-depth understanding of the crop insurance scheme, which contributed to academia, industry and Government. Recommendations were also be provided to improve the research’s limitation when carrying out future research
The Effect of Sociodemographic and Unhealthy Behaviour Factors on the Pharmaceutical Expenditure Share by Households in Malaysia
Get PDFThe third United Nations Sustainable Development Goal (SDG) seeks to improve universal access to medicines. In Malaysia, out-of-pocket expenditure is the highest for private total health expenditure, which includes pharmaceutical products. However, it is unknown how likely and profound the monthly spending is, relative to household income. The objectives of this study are to investigate the sociodemographic and unhealthy behaviour factors associated with pharmaceutical expenditure share (PES) among households in Malaysia generally, among different income groups and different regions by Gross Domestic Product (GDP) per capita. This study used Household Expenditure Survey 2014 microdata analysed mainly by two-part models (probit and ordinary-least square regressions). All households (n=14,838) had a PES of 0.94%, or a mean expenditure of RM 31.53. 43.8% of households purchased pharmaceuticals with a PES of 2.15% or a mean expenditure of RM 71.95. Bivariate analysis shows that age, ethnicity, education and employment status of household heads, residing strata, household income and regions by GDP per capita were significantly associated with PES. Unemployed, female (middle-income states), single household heads (M40 and T20 households) and having a large household increased the likelihood of pharmaceuticals consumption. Increasing age, female (high-income states), increasing education of household heads, and decreasing household income increased PES. Non- Bumiputera households and consuming sugary products increased both the likelihood
and allocation on pharmaceuticals. Similarly, those residing in middle-income states were more likely to spend, and spent more of their income than households in lowincome states. In contrast, urban households were less likely to spend, but spend more. More public health clinics in urban areas and townships with many retirees in middleincome states while intensifying the existing ‘Know your medicine’ campaign to large families are among the recommendations suggested from this study