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The Best of Hans Zimmer (sheet music available)

The Best of Hans Zimmer (with sheet music DOWNLOAD HERE)

Hans Florian Zimmer (born 12 September 1957) is a German film score composer and record producer. Zimmer's works are notable for integrating electronic music sounds with traditional orchestral arrangements. Since the 1980s, he has composed music for over 150 films. His works include The Lion King, for which he won the Academy Award for Best Original Score in 1995, the Pirates of the Caribbean series, Interstellar, Gladiator, Crimson Tide, Inception, Dunkirk, and The Dark Knight Trilogy. He has received four Grammy Awards, three Classical BRIT Awards, two Golden Globes, and an Academy Award. He was also named on the list of Top 100 Living Geniuses, published by The Daily Telegraph. Zimmer spent the early part of his career in the United Kingdom before moving to the United States. He is the head of the film music division at DreamWorks studios and works with other composers through the company that he founded, Remote Control Productions, formerly known as Media Ventures. His studio in Santa Monica, California has an extensive range of computer equipment and keyboards, allowing demo versions of film scores to be created quickly. Zimmer has collaborated on multiple projects with directors including Ridley Scott, Ron Howard, Gore Verbinski, Michael Bay, and Christopher Nolan.

Hans Zimmer | Soundtrack Compilation

https://www.youtube.com/watch?v=IqiTJK_uzUY Find Franz Zimmer's complete sheet music books in our Library.

Track list: Interstellar 00:00 - 01:05 - Organ Variation 00:00 - 03:54 - Tick Tock 03:54 - 05:10 - Cornfield Chase 05:10 - 08:08 - Where We're Going 07:55 - 08:56 - No Time For Caution Inception 08:57 - 13:17 - Time Pirates of the Caribbean 13:15 - 14:18 - Davy Jones 14:19 - 16:15 - The Kraken 16:15 - 18:17 - At Wits End 18:17 - 20:13 - What Shall We Die For 20:13 - 24:02 - One Day 24:03 - 26:37 - Up Is Down 26:38 - 30:05 - Drink Up Me Hearties Batman Trilogy 30:06 - 30:34 - Bank Robbery 30:34 - 31:45 - Antrozous 31:45 - 32:18 - Barbastella 32:19 - 33:06 - Vespertilio 33:05 - 36:07 - A Dark Knight 36:07 - 36:33 - Aggressive Expansion 36:33 - 36:41 - Im Not A Hero 36:42 - 39:51 - Like A Dog Chasing Cars 39:51 - 42:08 - Despair Man of Steel, The Da Vinci Code, Gladiator, The Last Samurai, Blue Planet II, Planet Earth II 42:09 - 44:19 - Flight 44:15 - 47:57 - Chevaliers de Sangreal 47:57 - 50:34 - Now We Are Free 50:35 - 51:42 - Spectres In The Fog 51:42 - 54:25 - Safe Passage 54:26 - 56:48 - The Blue Planet 56:48 - 58:11 - Planet Earth II Suite

Hans Zimmer, a short biography.

Hans Florian Zimmer (born September 12, 1957, in Frankfurt am Main) is a German film composer, arranger and music producer. He works in Hollywood. He has been nominated eleven times for an Oscar, fourteen times for a Golden Globe Award and eleven times for a Grammy Award. Hans Zimmer received his first Oscar nomination in 1989 for the film Rain Man. In 1995, he was awarded an Oscar for the film music for The Lion King. In 2010, he received a star on the Hollywood Walk of Fame. A star followed in 2011 on the Boulevard der Stars in Berlin. Zimmer was awarded the Federal Cross of Merit 1st Class in 2018. Hans Zimmer's soundtrack albums have sold more than 25.4 million copies worldwide. Hans Zimmer was born in Frankfurt am Main, the son of chemical entrepreneur Hans J. Zimmer. As a child, he learned to play the piano in his parents' house, in the Villa Gans in Kronberg, although he only had a piano teacher for a short time because he didn't want to submit to his discipline regarding the basic rules for a pianist. On the Harald Schmidt Show on February 15, 2002, when asked if he had music lessons, he replied: 'Yes, I had them for a week. It was like that, either I would have killed the teacher or he would have killed me.” He was a graduate of Hurtwood House boarding school in Dorking, Surrey, England, and played synthesizers in groups such as Krisma and Helden (with Ultravox drummer Warren Cann). He did not go through an academic musical education. Hans Zimmer is married and has four children. In 1999, at a press conference on the Holocaust documentary The Last Days, he declared that he was Jewish. In 1939 his mother fled from the National Socialists to England.

Years in England In the late 1970s, Hans Zimmer was a composer of commercial music jingles and worked on the modular synthesizer in the video clip of the Buggles hit video Killed the Radio Star. He composed advertising and radio jingles in the London studio Air Edel. There he met the well-known English film music composer Stanley Myers, whose assistant he became in 1980. Zimmer learned a lot about composing for an orchestra from him. Through this collaboration, he received his first smaller commissions for composing film music. In the late 1980s, he drew attention to himself with the soundtrack for films such as Rain Man. Hollywood Zimmer was best known in the early 1990s for his innovative combination of orchestral and synthesizer sounds. With Ridley Scott's Black Rain and Ron Howard's Backdraft - Men Who Walk Through Fire, he created a new style of setting music to action films. Backdraft in particular is considered a milestone in film music history: Zimmer's decision to set the film to music with a so-called 'wall-to-wall score', i.e. to underlay the majority of the film with music, created the prototype for many action film scores that were later released in Hollywood were produced. The style, roughly based on a powerful main theme, rhythmic action motifs, and gentler passages for the two main characters (portrayed by Kurt Russell and William Baldwin), is found in numerous later film scores. Together with his partner Jay Rifkin, he founded the film music studio Media Ventures in the mid-1980s. In 2003, after a legal battle with Rifkin, Zimmer took over the business with his company Remote Control Productions. Remote Control is a kind of talent factory, in which some other film music composers, such as Examples include Steve Jablonsky, James Dooley, Heitor Pereira, and Geoff Zanelli. Notable former Remote Control composers include Klaus Badelt, John Powell, Nick Glennie-Smith, Mark Mancina, and Harry Gregson-Williams. After completing work on Illuminati, Zimmer planned to give a few concerts, but this has only been possible to a limited extent so far, as he has been accepting new orders. In an interview with the website Amazona.de, he said that most of the directors he works with are his friends, so he finds it difficult to turn down an assignment from them. Finally, in 2016, Zimmer was on a major tour of Europe with an orchestra of 70 musicians. Various of his soundtracks were played live in front of an audience, combined with short stories by Zimmer, e.g. about the death of Heath Ledger in 2008, shortly after filming The Dark Knight. The live tour premiered on April 6, 2016, at Wembley Arena in London. The tour ended on June 5, 2016, with a concert in the ancient theater of Orange. Johnny Marr accompanied Zimmer on the electric guitar at a few selected concerts in London, Berlin, Prague, Manchester, Dublin and Orange. Zimmer received a great deal of attention after his concert on April 22, 2016, in the König-Pilsener-Arena in Oberhausen, when he played Prince's song Purple Rain after his death. In 2017, Zimmer was again on the road on a live tour, for the first time in the United States, Australia, New Zealand and South Korea. The concert tour began on April 14, 2017 at the Microsoft Theater in Los Angeles and ended on October 7 at Seoul Olympic Stadium. Zimmer now lives and works in Los Angeles and is one of the most successful and influential film composers in Hollywood history. In 2018, Hans Zimmer was nominated for an Oscar for the eleventh time. In the European Year of Intercultural Dialogue 2008, Hans Zimmer was an ambassador in Germany. The aim of the European Commission's campaign was to inform people in all 27 EU countries about the benefits of diversity and to get them excited about intercultural exchange. In response to the Aurora attack in July 2012, he released the composition Aurora. All proceeds should be donated to the victims and their families. Style The use of ethnic instruments such as B. the duduk in Gladiator (played by the Armenian duduk player Djivan Gasparyan), flutes in Rangoon - In the heart of the storm or taiko in Last Samurai, is one of his trademarks. This also includes compositions with African influences, such as B. Two Worlds, In the Glory of the Sun, The Lion King and Black Hawk Down, but also music for comedies like It Can't Be Better or Tricks or for the action film The Dark Knight Rises. He works regularly with directors Ridley Scott, James L. Brooks, Gore Verbinski, Penny Marshall and Christopher Nolan. Hans Zimmer himself describes Ennio Morricone as his great idol. Zimmer frequently collaborates with the same musicians. In many pieces of music, a guitar is played by Heitor Pereira or a cello by Martin Tillman. Long before filming begins, Zimmer usually composes suites that contain all the essential components of the later film music. Towards the end of the production, the suites serve as the basis for the music, which is written directly to the picture. But the suites themselves are mostly used in the film and on the soundtrack - e.g. For example, tracks 9 through 13 from The Da Vinci Code soundtrack are the suite written by Zimmer. In an interview, Zimmer explains this way of working as follows: 'I've been thinking about how I've been working lately. Writing things before shooting is a better way. Film technology has changed so much in recent years, especially with computer effects, that it is now possible to make last-minute changes to the film. I think the old way of waiting for the film to finish editing and then writing and recording the music for the last six to twelve weeks or whatever doesn't work anymore these days. So it makes sense to write some of the music before those 12 weeks. That gives you and the filmmakers something to work with while you think about the music to go with the picture. That way, you might have more influence on the style of the film. It also solves those annoying temp track issues.” – Hans Zimmer Other composers often help Zimmer with his music, especially towards the end of film production, by orchestrating, arranging or composing parts for him based on his suites and musical ideas. This collaborative way of working is controversial for some film music fans, but not entirely uncommon in Hollywood. Rupert Gregson-Williams says the following in an interview: “Hans is an icon and – in my opinion – most of the criticism against Media Ventures is completely unfounded. The most common misconception is that everyone works on the issues while Hans gets the credit for it. Well, I worked with Hans in Los Angeles for three months on different scenes for The Prince of Egypt - the sandstorm sequence where Moses is woken up by a camel and the scene with the death of the firstborn - and all the themes were written by Hans. My job was to take the thematic content from Hans and work it into my pieces for the scene. There was a lot of discussion and talk about the contextual meaning behind the film and how the music relates to it, but the driving force behind it was Hans. Just to watch him work, to be creative and to be in this atmosphere for once was wonderful. Also, Hans is a phenomenal orchestrator. That's something people don't understand.' – Rupert Gregson-Williams Hans Zimmer not only composes, but also takes on the execution as the responsible music producer for films, such as 2006 with Over the Hedge and 2015 with Terminator: Genisys. Read the full article

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newstfionline · 4 years

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Headlines: Saturday, September 26, 2020

Largest California wildfire threatens marijuana-growing area (AP) California’s largest wildfire is threatening a marijuana-growing enclave, and authorities said many of the locals have refused to evacuate and abandon their maturing crops even as weather forecasters predict more hot, dry and windy conditions that could fan flames. The wildfire called the August Complex is nearing the small communities of Post Mountain and Trinity Pines, about 200 miles (322 kilometers) northwest of Sacramento, the Los Angeles Times reported. Law enforcement officers went door to door warning of the encroaching fire danger but could not force residents to evacuate, Trinity County Sheriff’s Department Deputy Nate Trujillo said. “It’s mainly growers,” Trujillo said. “And a lot of them, they don’t want to leave because that is their livelihood.” The area is in the Emerald Triangle, a three-county corner of Northern California that by some estimates is the nation’s largest cannabis-producing region. People familiar with Trinity Pines said the community has up to 40 legal farms, with more than 10 times that number in hidden, illegal growing areas. Growers are wary of leaving the plants vulnerable to flames or thieves. Each farm has crops worth half a million dollars or more and many are within days or weeks of harvest.

Things to avoid during your Zoom session (Reuters) An Argentine lawmaker has resigned after being caught on a live camera caressing his wife before appearing to partially pull down her top and kiss her breast during a virtual session of the country’s lower house of Congress on Thursday. The lower house of deputies said in a statement on Twitter early on Friday that it had voted to accept the resignation of Juan Ameri, a representative from the northern province of Salta in the ruling coalition. Virtual meetings amid the coronavirus pandemic have tripped up lawmakers before. In June, Ireland’s Luke Ming Flanagan appeared to be wearing no trousers as he discussed policy matters with his European Parliament peers.

Queen Elizabeth II to trim costs as COVID-19 hits income (AP) Britain’s Queen Elizabeth II and her family are facing a 35 million pound ($45 million) hit from the coronavirus pandemic, partly due to a shortage of tourists, the monarch’s money-manager said Friday. Releasing the royal household’s annual accounts, Keeper of the Privy Purse Michael Stevens said a lack of income from visitors to royal buildings was likely to bring a general funding shortfall of 15 million pounds ($19 million) over three years. He said the impact of the pandemic is also likely to cause a 20 million-pound ($25.4 million) shortfall in a 10-year, 369-million-pound program to replace antiquated heating, plumbing and wiring at Buckingham Palace, the queen’s London home. Stevens said the royal household would not ask for more government money but would “look to manage the impact through our own efforts and efficiencies.”

As Virus Cases Surge in Europe, Hospitalizations Lag. (NYT) In Munich, normally brimming with boisterous crowds for Oktoberfest this month, the authorities just banned gatherings of more than five people. In Marseille, France, all bars and restaurants will be closed next Monday. And in London, where the government spent weeks urging workers to return to the city’s empty skyscrapers, it is now asking them to work from home. Summer ended in Europe this week with a heavy thud amid ominous signs that a spike in coronavirus cases may send another wave of patients into hospitals. But just how imminent is the peril? As they weigh actions to curb a second wave of the virus, European leaders are dealing with a confusing, fast-changing situation, with conflicting evidence on how quickly new cases are translating into hospital admissions—and how severe those cases will end up being. In Spain, where new cases have surged to more than 10,000 a day, hospitals in Madrid are close to capacity and the government said it was preparing to reopen field hospitals in hotels and in the city’s largest exhibition center. Yet in France, which reported 66,000 new cases over the last seven days, hospital admissions and deaths, while also rising, are going up more slowly. There is a similar divergence between infection rates and hospitalizations in Germany and Austria. And in Britain, which reported 6,178 new coronavirus cases on Wednesday—the highest figure since May 1—just 134 patients were admitted to hospitals on Monday, barely a tenth of those admitted in early May.

Pope to UN: Use COVID crisis to come out better, not worse (Washington Post) Pope Francis urged world leaders Friday to use the coronavirus emergency as an opportunity to reform the injustices of the global economy and the “perverse logic” of the nuclear deterrence doctrine, warning that increased isolationist responses to problems “must not prevail.” Francis laid out his appeal for greater involvement and influence of the United Nations in protecting the poor, migrants and the environment in a videotaped speech Friday to the U.N. General Assembly, held mostly virtually this year because of the pandemic. Francis said the world has a choice to make as it emerges from the COVID-19 crisis and addresses the grave economic impact it has had on the planet’s most vulnerable: greater solidarity, dialogue and multilateralism, or self-retreat into greater nationalism, individualism and elitism. “The pandemic has shown us that we cannot live without one another, or worse still, pitted against one another,” he said. “This is why, at this critical juncture, it is our duty to rethink the future of our common home and our common project.”

Migrants accuse Greece of pushing them back out to sea (AP) Shortly after reaching the Greek island of Lesbos, a group of Afghan migrants say, their hopes for a new life in Europe were cut short when Greek authorities rounded them up, mistreated them, shoved them into life rafts and abandoned them at sea, where they were rescued by the Turkish coast guard. Turkey, which hosts about 4 million refugees, accuses Greece of large-scale pushbacks—summary deportations without access to asylum procedures, in violation of international law. Greece, which lies on the EU’s southeastern border and has borne the brunt of migration flows from Turkey, denies the allegations and in turn accuses Ankara of weaponizing migrants. In March, Turkey made good on threats to send migrants to Europe, declaring its borders with the EU open. In what appeared to be a government-organized campaign, thousands headed to the Greek border, leading to scenes of chaos and violence. Turkey’s border with EU member Bulgaria was largely unaffected. Greece shut its frontier and controversially suspended asylum applications for a month. Uneasy neighbors Greece and Turkey have been at loggerheads for decades over several territorial issues, and asylum-seekers have found themselves caught up in the geopolitical conflict.

Taliban entrepreneurs (Foreign Policy) For decades, Afghanistan’s untapped mineral wealth has been touted as the country’s trillion-dollar El Dorado. But while the Afghan government has never been able to monetize mountains of copper, iron ore, gold, and gemstones, the Taliban have—and are ramping up their mining operations as just-started peace talks aim to shape the future of a postwar Afghanistan. In recent years, the Taliban have deliberately moved to secure control over regions of Afghanistan rich in mineral deposits, from lapis lazuli mines in northern Badakhshan to gold, lead, and zinc in Helmand and vast talc and marble deposits in southern Nangarhar. The Taliban, who already control most of the country’s mineral wealth, are banking on further developing the sector to make it the bedrock of the country’s postwar economy—or theirs, at least.

The Indian navy and China (WSJ) India’s border conflict with China is pushing New Delhi to look for an asymmetric response: flexing its naval might as it deepens cooperation with other democracies that seek to counter Beijing’s global ambitions. India, which operates one of the world’s largest navies, sits astride shipping routes in the Indian Ocean that connect China to its main sources of oil and gas in the Middle East and to its key markets in Europe. Though growing fast, China’s navy still has only limited ability to operate in a region far from its home shores—and has to contend with the U.S. in its own backyard. “On the northern border, the best we can hope for is to achieve a stalemate. But at sea, we have an advantage over the Chinese,” said retired Adm. Arun Prakash, a former head of the Indian navy. “A show of force at sea can send a message to China that you are vulnerable, that we can interfere with your shipping and with Chinese energy supplies. Their economy would be shaken up.”

‘Tis the season for travel in China. But virus fears cast a shadow over festivities. (Washington Post) Zuo Weiwei has been stuck since February in her hometown Wuhan—yes, that Wuhan—and the problem now is that the city is overflowing with tourists. Wuhan’s government, like many across China, has been offering free tickets to tourist attractions to try to salvage economic growth. For better or worse, it appears to be working, as China approaches its first major holiday season since tamping down the coronavirus. The “Golden Week” holiday is one of the largest annual human migrations, with upward of 700 million people on the move. This year, it will be a crucial test of China’s efforts to regain normalcy and prevent new coronavirus waves. The holiday season begins with China’s National Day on Oct. 1, marking 71 years of Communist Party rule. The period also coincides with this year’s mid-autumn festival, a one-day holiday that falls on the night of the fullest autumn moon. With borders closed around the world, those in China itching to travel have had to look closer to home. Around 408 million highway trips are expected to be made this Golden Week, slightly up from last year, China’s Ministry of Transport said on Thursday. But the flood of travelers will make social distancing difficult and brings the risk of new virus outbreaks that could spread rapidly across the country.

Tunisian migrants (Washington Post) The economic fallout from the coronavirus pandemic is propelling thousands of Tunisians to make the perilous Mediterranean journey in search of better living conditions, with the largest wave in nearly a decade reaching Italy’s shores. The strict lockdown Tunisia imposed in March was largely successful in containing the outbreak, but the measures devastated the country’s already ailing economy. During the first eight months of this year, nearly 8,000 Tunisians crossed the Mediterranean to Italy, six times as many as last year.

Palestinian elections (Foreign Policy) Fatah and Hamas, the two largest political factions in the occupied Palestinian territories, have agreed to hold elections for the first time in almost 15 years. The last elections, held in 2006, resulted in a landslide victory for Hamas, leading to bloody clashes between the two sides and a de facto split within Palestine, with Hamas taking control of the Gaza Strip and the Fatah-led Palestinian Authority (PA) retaining control of the West Bank. Leaders said a vote will be held within six months. The move follows an unprecedented show of unity among Palestinians in opposition to recent moves by several Arab states to normalize diplomatic ties with Israel.

#headlines #news

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sharengayonline · 3 years

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Top 10 Health Insurance Companies in Australia | 2021 Rated

Sharengay Trang Tin Tức Độc Đáo VIDEO Top 10 Health Insurance Companies in Australia | 2021 Rated

or call 1300 795 560 to speak with a specialist

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Megan Fraser Updated: 11 June 2021

Currently, there are thirty-eight insurance companies registered under the Private Health Insurance Act 2007. They typically have the option to run as an open or restricted fund. Open funds offer cover to the general public while restricted funds have specific criteria that you’ll need to meet before you’ll be able to join.

To determine which companies are the 10 best insurers, you’ll need to compare the types of policies they offer, their premiums, the market share they hold as well as customer satisfaction ratings. Then, you’ll need to weigh up all of the varying factors to find the right company for your requirements.

Key Facts

The top 5 companies by market share are Medibank, Bupa, HCF, nib, and HBF.

Premiums for a Basic Hospital policy single adult range between $96.20 and $277.35 per month depending on the insurer you choose.

To find the best company for your requirements look for a fund that offfers the benefits you need at a premium you can afford.

Top 10 private health insurance companies in Australia by market share

Medibank: 26.9% market share. Has over 40 years’ experience delivering health insurance to 3.7 million customers via their Medibank and AHM brands.

Bupa: 25.4% market share. The foreign-owned private company entered the Australian market in 2002 and currently serves over 4 million customers in Australia and New Zealand.

HCF: 11.7% market share. A not-for-profit health fund established in 1932, now covering over 1.5 million Australians in 52 locations across the country.

nib: 9.2% market share. Established in 1952, nib is an international health partner serving over 1.5 million customers in Australia and New Zealand.

HBF: 7.3% market share. A not-for-profit organisation founded in 1941, providing health coverage to more than 1 million members.

Australian Unity: 2.6% market share. A mutual company owned by its members established over 175 years ago with 185,000 private health insurance policyholders.

Teachers Health: 2.5% market share. A private health fund exclusively for the education community in Australia which looks after 350,000 teachers, education staff and their families.

GMHBA: 2.1% market share. Since its beginning in 1934, GMHBA has remained a not-for-profit health insurer, now protecting more than 400,000 Australians.

Defence Health: 0.4% market share. For over 65 years Defence Heath provides coverage to the Australian Defence Force (ADF) and wider defence community and today covers over 300 000 people.

CBHS: 0.1% market share. Since 1951 CBHS protects the health of Commonwealth Bank of Australia’s (CBA group) employees and families, with over 100,000 members today.

Source: Ombudsman.gov.au, Australian Prudential Regulation Authority 30 June 2020

2021 Private health insurance reviews and premiums Australia

When comparing major private health funds, you might also want to consider how satisfied their customers are with their service and how their premiums compare for a similar policy.

Source: Ombudsman.gov.au, Productreview.com.au, Privatehealth.gov.au, January 2021

*Take note: The above monthly premium information is based on a basic Hospital policy with a $750 Excess for a single adult living in Queensland.

How to choose the best health insurance for your requirements

Coverage

Firstly decide on the type of coverage you require. For example, a basic hospital policy will most often cover accommodation as a private patient in a public or private hospital but exclude high-cost services like pregnancy.

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Benefits

Your chosen health insurance company might use dollar or percentage amounts or both to show how much you can claim for a specific service, for example, $250 per person or 75% of the total costs. Hospital cover has been categorized into four tiers – Basic, Bronze, Silver and Gold. These tiers, each with a minimum level of cover guaranteed, will make it easier for you to compare and choose the right policy that meets your requirements.

Annual limits

A limit refers to the maximum benefit payable each year for a specific service/treatment. Annual limits differ between funds and policies, so make sure that you review the company’s Standard Information Statement (SIS).

Co-payments or daily excess

In exchange for lower premiums, hospital policies generally have co-payments, also known as an excess, wherein you agree, upfront, what amount you’re willing to pay each day you’re in the hospital. Depending on the insurer you’ll typically have the choice of zero, $250 or $500 excess.

Health Insurance Reviews

Read what customers are saying about the company, how satisfied they are with their service and how many complaints the company annually receive.

Exclusions

Carefully review which services and conditions your provider does not cover. With the new health insurance reforms where hospital policies must adhere to a simplified classification system; Gold, Silver, Bronze and Basic, your health fund might decide to exclude or include specific benefits.

Premiums

A cheap policy isn’t necessarily the right policy for you. Make sure to compare funds that provide the coverage you require before reviewing cost. This way, you’ll generally be able to find an acceptable value policy for an affordable price.

Waiting Periods

Look at the length of time you’ll have to wait before you can claim a benefit, for example, when you have a pre-existing condition, you generally have to wait 12 months. Waiting periods can range anywhere from 1 day, two months to a year and are different between insurers.

Market share

If a health fund owns more of the market, it means that they have sold more policies, which could mean that more people are trusting that particular health fund.

Which type of health cover to consider?

Select Private health insurance cover helps you avoid the Lifetime Health Cover (loading) and Medicare Levy Surcharge (MLS). It’s also essential to consider having adequate health cover if you have a health condition, are thinking about becoming pregnant, have a family, or are getting to an age where more medical assistance is required.

There are many private health funds in Australia, competing for your business. However, to find the most appropriate health fund to suit your requirements, you need to be clear about the type of plan you need:

Hospital cover

Covers some or all of the costs for treatments received in the hospital. The protection you’ll receive depends on the level of hospital insurance your purchase: Gold, silver, bronze or basic.

Extras cover

Provides a benefit for treatments and services received outside of a hospital, for example, optical, dental and psychology. Depending on your fund, you generally have a choice between comprehensive, mid or basic extras.

Combined Cover

Includes both hospital and extras. Many insurers will allow you to tailor cover to suit your requirements.

Take note: You do not have to buy hospital and extras from the same company. Find what works for you, even if that means buying a hospital policy from one insurer and an extras policy from another fund.

Health Insurance Quotes

Reduce out-of-pocket expenses

Keep your family healthy

Easy and convenient

Free to use

Want to talk to a specialist? Call 1300 743 254

Top 5 cheapest companies by health insurance product tier

In April 2020 it became mandatory for Hospital cover to be categorized into four tiers – Basic, Bronze, Silver and Gold. A policy is assigned a tier based on the minimum level of cover it offers. These tiers will make it easier for you to compare and choose the right policy that meets your requirements.

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Top 5 Bronze Hospital Cover Plans

Health Insurer Product Monthly Premium Excess Medibank Private & AHM Medibank Bronze Everyday $117.15 $750 per admission BUPA Bronze Plus Simple Hospital $120.50 $750 per admission HCF (Hospitals Contribution Fund) HCF hospital bronze $121.00 $750 per admission NIB Health & GU Corporate Health Bronze Hospital Plus $121.65 $750 per admission HBF Health & GMF/Healthguard Bronze Hospital Plus $112.40 $750 per admission

Take note: The companies listed are ranked based on market share (based on insurer), and the premiums are calculated for a single person living in Queensland.

Top 5 Silver Hospital Plans Compared

Health Insurer Product Monthly Premium Excess Medibank Private & AHM Medibank Silver Everyday $161.20 $750 per admission BUPA Silver Plus Essential Hospital $148.25 $750 per admission HCF (Hospitals Contribution Fund) HCF hospital silver $202.05 $750 per admission NIB Health & GU Corporate Health Silver Hospital $151.71 $750 per admission HBF Health & GMF/Healthguard Silver Hospital Plus $206.00 $750 per admission

Take note: The companies listed are ranked based on market share (based on insurer), and the premiums are calculated for a single person living in Queensland.

Top 5 Hospital Gold Plans Compared

Health Insurer Product Monthly Premium Excess Medibank Private & AHM Medibank Gold Complete Hospital $230.10 $750 per admission BUPA Gold Complete Hospital $248.75 $750 per admission HCF (Hospitals Contribution Fund) HCF hospital gold $221.50 $750 per admission NIB Health & GU Corporate Health Gold Top Hospital $272.01 $750 per admission HBF Health & GMF/Healthguard Gold Hospital $209.90 $750 per admission

Take note: The companies listed are ranked based on market share (based on insurer), and the premiums are calculated for a single person living in Queensland.

How many health insurance companies are there?

There are 38 private health insurance companies in Australia for you to choose from. However, not all funds are open to the public; some are restricted to specific groups of people, for example, the Doctors Health fund generally only offers cover to members of the medical community and their families.

Funds open to the public

AHM Health Insurance

Australian Unity Health Limited

Bupa HI Pty Ltd

CBHS Corporate Health Pty Ltd

CDH Benefits Fund

CUA Health Limited

GMHBA Limited

Grand United Corporate Health

HBF Health Limited

HCF

Health Care Insurance Limited

Health Insurance Fund of Australia Limited

Health Partners

Health.com.au

Latrobe Health Services

Medibank Private Limited

Mildura Health Fund

MyOwn Health Fund

National Health Benefits Australia Pty Ltd

NIB Health Funds Ltd

Peoplecare Health Insurance

Phoenix Health Fund Limited

Queensland Country Health Fund Ltd

St. Lukes Health

Transport Health Pty Ltd

Westfund Limited

Funds restricted to specific members

ACA Health Benefits Fund

CBHS Health Fund Limited

Defence Health Limited

Doctor’s Health Fund

Emergency Service Health

Navy Health Ltd

Nurse & Midwives Health

Police Health

Railway and Transport Health Fund Limited

Reserve Bank Health Society Ltd

Teachers Health

TUH Health Fund

Frequently asked questions

Which health insurance company is the best in Australia?

There is no best health insurer for every person. As the saying goes ‘you can’t please all people all of the time’. Each person and family unit is different, with specific health requirements and budget. The best private health insurance provider for you should be one that you can afford and provides the type and level of coverage you want.

How do health insurance companies work?

In Australia, residents generally have access to free health care, called Medicare. However, to relieve some pressure off the public health system and shorten waiting times, you are encouraged to take out private health insurance, if you don’t, you’ll usually have to pay an LHC loading and MLS fee. In exchange for paying a premium, the private health insurance company pays a portion of your medical expenses.

Medicare generally pays up to 75% of your medical treatments under the Medicare Benefits Schedule (MBS). Your private health insurance must then pay at least 25% of the MBS fee. You are then responsible for the remainder of the costs. However, the private health insurance company you choose can pay more than the required 25%.

Can health insurance companies exclude pre-existing conditions?

No, health insurance companies cannot exclude pre-existing conditions, for example, asthma, cancer, or diabetes, because the Australian Federal Government prohibits it. Private health insurers may not refuse to let you buy health coverage or even to charge you a higher premium because you have a pre-existing condition. They can, however, have strict waiting periods associated with pre-existing conditions.

How much does health insurance cost in Australia?

The premium you’ll have to pay for your health insurance policy depends on various factors, including the state you live in, the type of plan you want (hospital, extras or combined), the co-payments you’re willing to make and the level of coverage you require (comprehensive, medium or basic). Remember, premiums rise every year on the 1st of April.

Who are the top 5 health insurance companies?

There is no ‘one best private health fund’ that will satisfy everyone’s requirements all the time. It’s up to you to compare offerings and premiums from the list of health insurance companies available in Australia. However, the top 5 private health insurance companies in Australia by market share are:

Medibank

BUPA

HCF

NIB

HBF

Which health insurance company offers the best cover for overseas visitors?

Each overseas visitor has their own unique requirements, for example, your budget, the number of family members travelling with you and the state(s) you’ll be visiting. It is generally worth getting OVHC quotes from a variety of providers to determine which one best meets your particular requirements.

Which company offers the best cheap health insurance?

To meet your requirements, it is advisable to compare the various policies on offer. In Australia, the most affordable health insurance plans are generally the Basic Extras only cover options, which usually only pays for essential general treatments received outside of the hospital.

Health Insurance Quotes

Reduce out-of-pocket expenses

Keep your family healthy

Easy and convenient

Free to use

Want to talk to a specialist? Call 1300 743 254

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Top 10 Health Insurance Companies in Australia | 2021 Rated

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1stnewslink · 3 years

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Stock Market LIVE Updates: Financials, pharma and auto stocks lead rally. IT stocks under selling pressure. CDSL jumps 12%. InfoEdge slips 4%

Gains in banking and auto stocks spiked Sensex and Nifty today as a smaller-than-expected spike in retail inflation in June helped ease concerns about a slowdown amid a rally in global stocks. HDFC, ICICI Bank, Sun Pharma, NTPC, and Axis Bank were among Nifty’s top winners. Adani Ports and HCL Tech were each down 1%. The Nifty Real Estate Index rose 0.78% while the Nifty Infra Index rose 0.49%. Both indices should rise for the third time in a row and have gained over 25.4% and 20.2% respectively this year.

!1 new updateClick here for the latest updates

India Vix volatility meter drops 2%

DuPont in talks to acquire an interest in Ion Exchange; Share jumps over 5%

Stock screener

Search, select and invest in top stocks

Ceat partners with Tata Power to build a proprietary solar array for the Mumbai facility

Price as of 07/13/2021 2:13 pm, Click on company names to see their live prices.

Nifty Bank is up 1.5%. Here are the top winners

Price as of 07/13/2021 2:06 pm, Click on company names to see their live prices.

GR Infra with a gray market premium of 55%; Allocation is expected tomorrow

Candle screener

Discover and examine trading opportunities

Yield on ten-year Chinese bonds drops to 2.93%, lowest value since July 2020

Shri Bajrang Power and Ispat are filing Rs 700-cr IPO papers

Integrated steel company Shri Bajrang Power and Ispat Ltd has filed preliminary papers with Sebi Capital Markets Authority to raise Rs 700 crore through an initial share sale. The IPO will consist of the issuance of shares of up to Rs 700 crore in accordance with the draft Red Hering Prospectus (DRHP).

Top gainer in a pharma pack

Price as of 07/13/2021 12:40 p.m., Click on company names to see their live prices.

Godrej Properties, DLF, Prestige Estates among the top ideas in the real estate package

NTPC REL Builds Country First Green Hydrogen Mobility Project; Increase by 2%

State-run electricity giant NTPC said Tuesday its branch, NTPC REL, will set up the country’s first green hydrogen mobility project in Ladakh. “NTPC REL, a wholly-owned subsidiary of NTPC, signed a letter of intent with the Union Territory of Ladakh to establish the country’s first green hydrogen mobility project in the region,” said a company statement.

According to Dr. Reddy’s, Sputnik V soft has been introduced in over 50 cities in India

Dr. Reddys Laboratories Ltd, which launched Russian COVID-19 vaccine Sputnik V here on May 14, has expanded the pilot to over 50 other cities in the country.

The rupee gained 14 paises in early trading to reach 74.44 against the US dollar

The Indian rupee rose 14 paises to 74.44 against the US dollar in early trading on Tuesday, following a steady trend in the domestic stock market. On the interbank currency exchange, the domestic unit opened at 74.49 against the dollar, then rose to 74.44 and posted a gain of 14 paise from its previous closing price.

Srei Equipment Finance acquires 2.08% stake in Eros International Media

Srei Equipment Finance has pledged 20 lakh shares, which together make up 2.08 percent of the shares in Eros International Media. “The company has pledged the shares of Eros International Media in accordance with the provisions of the pledge agreement dated July 3, 2017,” said Srei Equipment Finance in an official application.

Top winner in the property basket

Price as of 07/13/2021 10:06 am, Click on company names to see their live prices.

Sunteck Realty Shares Up 9% After Strong Q1 Update

The property developer has reported a 74 percent year-over-year increase in bookings to 176 billion rupees for the June quarter of 2021 through the performance of its middle-income, affordable housing projects.

Q1 results today

Mindtree, Tata Metaliks, Shree Ganesh Remedies, Deccan Health Care and Gagan Gases will announce their quarterly results today.

All of Nifty’s sector indices are green. Nifty Realty Index Up 1.5%, Nifty Bank Up 0.6%

The news from the inflation front is positive: the consumer price index for June is 6.26 percent compared to an expectation of 6.5 percent. This gives the RBI leeway to continue the accommodative mode to further strengthen the bulls. While staying invested in quality stocks, investors shouldn’t get swept up in the exuberance of the market, especially with small caps

– VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Top winners and losers in the broader market

Sunteck Realty, Tanla Platforms, Edelweiss Financial, Bharat Forge, Oberoi Realty and Prestige Estate were winners in the area, while Dalmia Bharat, Voda Idea, Indiamart Intermesh, Vakrangee, PNB Housing and Westlife Developments were under selling pressure.

ICICI Bank, HDFC and Bajaj Finance each gain over 1%

Opening Bell: Sensex up 250 points, Nifty at 15,770; ICICI Bank, DLF gain 1% each

Pre-open session: Sensex wins 50 points, Nifty over 15,750

SGX Nifty signals a starting gap

Nifty Futures on the Singapore Exchange traded 115.50 points, or 0.74 percent, higher at 15,803.50, suggesting Dalal Street was heading for a gap-up start on Tuesday.

Tech View: Refined, directionless, stay neutral

Monday was another flat close day for Nifty50 thanks to profit bookings at higher levels. The index failed to break through the strong resistance zones. Analysts advised traders to be neutral in such a directionless market. The 15,750-15,790 zone will be the main hurdle zone to watch out for.

Oil is rising on expectations that US crude stocks will fall

Oil rose Tuesday and rebounded from the previous day’s decline as expectations of a further decline in US crude oil inventories outweighed fears that the spread of COVID-19 variants could undo a global economic recovery. Brent crude rose 25 cents, or 0.3%, to $ 75.41 a barrel in September after losing 0.5% on Monday. US WTI crude was at $ 74.33 a barrel in August, up 23 cents, or 0.3%, after falling 0.6% the previous day.

Hong Kong stocks rise at opening at

Hong Kong stocks started on the front foot on Tuesday morning and continued the previous day’s gains as global markets resumed their uptrend after last week’s volatility. The Hang Seng Index rose 0.65 percent, or 178.79 points, to 27,694.03. The benchmark Shanghai Composite Index was hardly moved and fell by 0.25 points to 3,547.59 points.

Japan stocks open higher as global rallies continue

Tokyo’s benchmark Nikkei index opened higher on Tuesday amid global rallies on renewed economic optimism despite concerns over the ongoing pandemic. The Nikkei 225 rose 0.61 percent, or 173.00 points, to 28,742.02, while the broader Topix index rose 0.54 percent, or 10.50 points, to 1,963.83.

US stocks settled at record highs

US stocks hit new highs on Monday as investors waited for the start of the second quarter reporting season and a range of economic data. The Dow Jones Industrial Average rose 0.36% to end at 34,996.18 points, while the S&P500 index rose 0.35% to 4,384.63 points. The Nasdaq Composite was up 0.21% to 14,733.24. All three closed at the highest level ever.

Rupee expects 6 paises higher at 74.58 against the dollar

The rupee trimmed some of its initial gains to settle 6 paise higher at 74.58 against the US dollar on Monday, capturing gains in most regional currencies and possible inflows related to an upcoming IPO. In the interbank foreign exchange market, the rupee opened at 74.49, hit an intraday high of 74.40 and a low of 74.59. It eventually ended at 74.58, 6 paise higher than its last close.

Sensex, Nifty on Monday

The stock benchmarks Sensex and Nifty slipped from the daily highs in the closing hours to a flat end on Monday as profit bookings mostly in IT and metal stocks outweighed frantic buying at bank counters. The BSE Sensex posted its third straight loss, ending 13.50 points, or 0.03 percent, lower at 52,372.69. The index fluctuated nearly 500 points during the day, hitting a high of 52,700.51 and a low of 52,208.96.

Good morning, dear reader! Here is something to start your day of trading

The post Stock Market LIVE Updates: Financials, pharma and auto stocks lead rally. IT stocks under selling pressure. CDSL jumps 12%. InfoEdge slips 4% first appeared on 1st News Link.

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mysimsloveaffair · 20 days

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Back at home -

Maia: That was fun.

Wade: It would have been if we weren’t freezing our butts off. We seriously need to consider relocating to someplace warmer.

I’ve said more than Maia probably wants to hear right now, but that’s how I feel, and we’ll have to talk about it sooner or later. But for now, Maia retreats to the bedroom after changing into more comfortable clothes.

I sit at my computer to upload another video and realize I’ve completed the “Friend of the World’ aspiration. Now that my popularity has grown, I can make it pay off and begin securing our family’s financial future.

#banks day 25.4 #sims #sims 4 #TS4 gameplay #TS4 legacy #black simblr #brindleton bay #banks fam #bankgen4

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perfectirishgifts · 3 years

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Pope Francis Partners With Corporate Titans To Make Capitalism More Inclusive And Fair: Is This For Real Or Just Corporate Virtue Signaling?

New Post has been published on https://perfectirishgifts.com/pope-francis-partners-with-corporate-titans-to-make-capitalism-more-inclusive-and-fair-is-this-for-real-or-just-corporate-virtue-signaling/

Pope Francis Partners With Corporate Titans To Make Capitalism More Inclusive And Fair: Is This For Real Or Just Corporate Virtue Signaling?

(Angelo Carconi/Pool Photo via AP)

Pope Francis, aware of the fast-growing global wealth inequality between the ultra-wealthy and the rest of society, has proposed a challenge to corporate executives and public sector leaders to adopt a more inclusive, fair and transparent economic system that is equipped to address the dire challenges plaguing humanity and Earth.

“The world is rich, and yet the number of poor people is swelling all around us,” said Pope Francis. With the increasing wealth inequality, the pope pointed to the current challenges facing humanity, “Hundreds of millions of people are struggling in extreme poverty, and are lacking food, housing, healthcare, schooling, electricity, and drinkable water.

In response to the pope’s exhortation, business and public sector leaders formed an historic partnership with the Vatican. The Council for Inclusive Capitalism will serve as a movement to address the economic and environmental needs of the planet and its inhabitants. The council “boasts over more than $10.5 trillion in assets under management, companies with over $2.1 trillion of market capitalization and 200 million workers in over 163 countries.”

It should be noted that these extremely wealthy executives are not adversaries of capitalism, citing that the system has helped billions of people abscond poverty. However, the group acknowledges that capitalism has perilously left people behind, while also taking a toll on the planet. Ultimately, the partnership calls for a moral redress.

The “Guardians,” as the council members are called, are top executives of the world’s leading corporations who have promised to take bold actions toward creating inclusive capitalism. The Guardians will hold themselves accountable, committing to a list of intended actions involving environmental, social and governance matters. The Guardians, at their respective companies, have said they plan to hire and promote more women, increase diversity hires, commit to clean energy by purchasing 100% renewable electricity, reduce greenhouse gas emissions, promote the reuse and recycling of water and other initiatives.

The list of Guardians is lengthy and continues to grow. Here are some examples of the business leaders who have joined this mission:

Ajay Banga, president and CEO, Mastercard

Oliver Bäte, chairman of the board of management, Allianz SE

Marc Benioff, chair, CEO, and founder, Salesforce

Edward Breen, executive chairman, Dupont

Lady Lynn Forester de Rothschild, founder and managing partner, Inclusive Capital Partners

Kenneth Frazier, chairman of the board and CEO, Merck

Alex Gorsky, chairman of the board and CEO, Johnson & Johnson

Alfred Kelly, chairman and CEO, Visa

William Lauder, executive chairman, Estée Lauder

Bernard Looney, CEO, BP

Brian Moynihan, chairman of the board and CEO, Bank of America

Ronald P. O’Hanley, president and CEO, State Street Corporation

Rajiv Shah, president, the Rockefeller Foundation

According to the New York Times, “There are reasons to be both hopeful and skeptical of the initiative. The corporate pledges are meaningful, but some aren’t new: BP, for example, restates a commitment to achieve net zero carbon emissions by 2050 that it announced in February. And while the council has posted the pledges publicly, there’s not much to hold the companies accountable (aside from the risk of disappointing the pope).”

While we applaud the people who try to make the world a better place, there is an irony that can’t be ignored. The same people who are calling for an end to wealth and income inequality are extraordinarily wealthy. Of course, the noted leaders like capitalism, it’s been very good to them.

According to Forbes, Marc Benioff, the CEO of Salesforce, is worth nearly $90 billion. William Lauder, the executive chairman of Estée Lauder, has a net worth of $3.5 billion.

Lady Lynn Forester de Rothschild, the founder and managing partner of Inclusive Capital Partners, has her own wealth, but is also married to Sir Evelyn De Rothschild. He is the scion of one of world’s wealthiest family dynasties and is estimated to be worth $20 billion.

According to salary.com, Ajay Banga, the CEO of Mastercard, earned $23.2 million in total compensation for 2019. Bank of America CEO Brian Moynihan reaped $25.4 million in total compensation for 2019. These numbers don’t include any accumulated stock that they may own in their respective companies or their entire net worth.

There is nothing wrong with the Guardians being in the top 1%. However, these business leaders are the people that the pope points to when he calls out wealth inequality. Their massive wealth begs the question, since they have the financial means, why aren’t they personally leading by example? Why not write a large personal check, without claiming it as a tax write-off? When their corporations take actions, the monies don’t come out of the pockets of the executives, but are indirectly supported by the shareholders.

The wealthy elites could consider getting their own houses in order before trying to change the world. The CEOs are able to ask for and accept significantly less compensation and wave all of their stock options and lavish bonuses. They could certainly live on a $5 million salary and the other $20 million could be shared with their workers. Instead of accumulating all of the stock options, the executives should offer them to their employees, so that they have equity in their companies.

The titans of industry have the power to provide enhanced health insurance, additional vacation days, flexible work schedules, pensions, access to mental health resources and longer maternity and paternity leave. Who will be the first CEO to step down and replace himself with a person of color or woman?

The Guardians can exert peer pressure on fellow industry chief executive officers. They could ask Amazon’s Jeff Bezos, Facebook’s Mark Zuckerberg, Apple’s Tim Cook, Google’s Sundar Pichai and others to relinquish the fortunes they’ve accumulated during the Covid-19 pandemic and redistribute it to this initiative.

The glaring concern is that this partnership ends up as a public relations bonanza for the executives involved. They’ll bask in the glory of favorable media attention and virtue signal how wonderful and caring they all are. I’ll follow up in the New Year to report their progress—if any.

From Careers in Perfectirishgifts

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swedna · 4 years

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The financial year 2020-21 (FY21) is set to see its first initial public offering with Rossari Biotech’s IPO going live today. The IPO is set to break a four-month dry spell in the primary market as business activities remained largely suspended due to Covid-19-induced nationwide lockdown.

The offer will stay open till Wednesday, July 15, and the company aims to mop up approximately Rs 500 crore at the upper end of the price band of Rs 423 – Rs 425 per share.

The specialty chemical company is offering a mix of fresh issue and offer for sale (OFS). Promoters Edward Menezes and Sunil Chari will offload 5.25 million equity shares each, taking the total OFS at 10.5 million equity shares. Meanwhile, the fresh issue component stands at Rs 50 crore. Each share will have a face value of Rs 2 with bid lots available in 35 shares and in multiples thereof.

The offer will be open to qualified institutional buyers (QIB) for 50 per cent of the offer; to non-institutional buyers for 15 per cent; and to retail investors for 35 per cent. The company is expected to get listed on the BSE and NSE on July 23.

Covid-19, India-China stand-off key positives

At a time when most of the businesses are struggling to survive amid the Covid-19 pandemic, the company’s home, personal care and performance chemicals (HPPC) segment provided it cushion against the slowdown blues.

“Manufacturing of disinfectants and sanitizers as part of the HPPC segment led the company’s products to get categorised under essential goods. Therefore, the manufacturing facility at the Silvassa unit was not shut down… Due to the Covid-19 pandemic, import of a few raw materials were restricted but were substituted with domestic suppliers in time without impact on continuity of operation,” the company said in its red herring prospectus.

At the end of FY20, HPPC accounted for nearly 47 per cent of its revenues, up from 38 per cent in FY19, and just 18.6 per cent in FY18.

Banking on this, analysts at Choice Broking remain positive on the company’s prospects on hopes that India could compete with China to become a global manufacturer in the post Covid-19 era. “The likely import ban after the recent Indo-China border skirmish makes the specialty chemicals sector a good investment bet,” says Rajnath Yadav, research analyst at the brokerage. He has a ‘Subscribe with caution’ rating for the stock.

Other business segments Apart from personal care products, Rossari Biotech offers products under textile specialty chemicals, and animal health and nutrition products (AHNP). They accounted for 44 per cent, and 9.5 per cent, respectively, of total revenue at the end of FY20.

“Due to rising demand for hand sanitisers, disinfectants, cleaning chemicals manufactured by Rossari Biotech, its business performance has boomed… Considering its debt-free status (post-issue), diversified product portfolio with sharp capacity expansion with low leverage coupled with strong margin and best fixed assets turnover ratio, we have a positive outlook on the company’s growth prospects,” note analysts at Arihant Capital. The brokerage has assigned a ‘subscribe’ rating to the offer.

Should you subscribe? With a market cap of about Rs 2,210 crore, analysts at Motilal Oswal Financial Securities Ltd (MOFSL) value the firm’s P/E multiple at 33.8x, which is largely in-line with peers like Aarti Industries (30.9x), Atul Ltd (20.9x), Vinati Organics (31.3x), Fine Organics (36.4x), and Galaxy Surfactants (24.3x).

Besides, as per the financials at the end of FY20, Rossari Biotech’s debt to equity ratio is at 0.2, compared to Galaxy Surfactants’ 0.3 and Aarti Industries’ 0.6.

“At the higher end of the price band, the issue is valued at 33.8x FY20 P/E (fully diluted). While this may appear high, we like the company given its strong financial performance, lean balance sheet, and doubling of capacity over next one year which will drive future growth. Hence, investors can subscribe to the IPO from a long term perspective,” says Sneha Poddar, research analyst at MOFSL. “Further, considering the market conditions and bright prospects for specialty chemical space, one may also get listing gains,” she adds.

The company’s revenue from operations grew from Rs 299 crore, as on March 31, 2018 to Rs 600 crore at the end of FY20. Meanwhile, the net profit jumped from Rs 25.4 crore to Rs 65.25 crore during the period. It’s EBITDA at the end of FY20 stood at Rs 104.53 crore

For Nav Bhardwaj and Bhawana Israni, research analyst at Anand Rathi Shares and Stock Brokers, the stock is valued at ~19.9x EV/EBITDA and ~33.1x P/E on FY20 figures at the higher end (Rs 425 a share) of the issue band. Besides, Galaxy, Atul and Fine organics trade at FY20 P/E multiples of 24.3x, 20.7x and 36.3x, respectively, while Aarti Industries and Vinati Organics trade at 30-31x. This, they believe, is within the range of the sector average. They give a ‘subscribe’ rating to the stock.

Keshav Lahoti, research analyst at Angel Broking, however, says that slowdown in demand especially from textile industry; dependence of revenue on top 5 customers (which contributed 43.9 per cent of revenue for FY20; delay in addition of new capacity or lower utilization ratio of new capacity; and inability of the company to maintain its RoE, RoCE, working capital days and EBIDTA margins, may pose as key risks for the company.

Despite this, he believes Rossari Biotech will command a premium over most of its chemical peers “as it is net debt free as well as it has better asset turnover, working capital days, RoE and RoCE better than most of its peers”. He, too, has a ‘subscribe’ rating on the stock.

#Rossari

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kerahlekung · 4 years

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Din wants to rule by fiat...

Din wants to rule by fiat....

On Saturday, Tan Sri Muhyiddin Yassin had his maiden media interview. This was a public relations exercise. He is the prime minister, so such flexing is par for the course. He needs to build rapport among Malaysians anyway, given his use of the unsavoury “backdoor” to wrest power from Pakatan Harapan. But we will leave that discussion for another day and time. Now, in that interview, Muhyiddin said a lot of things. But I’d like to hone in on a few issues. His responses to these display how aloof and complacent he and his government have been since Malaysia went into a lockdown styled as the movement control order (MCO). Firstly, while acknowledging that the country is losing RM2.4 bil every day due to the MCO, he added: “This is my priority … let there be no terminations or layoffs, but then again these are businesses and if they are unable to sustain much longer, what choice do they have? It is not like they can hold to their workers as in normal times. They will be without a source of income used to run their operations or to pay salaries.” Maybe the good PM forgot to check with the Department of Statistics Malaysia (DOSM) about its latest findings on the effects of Covid-19 on the economy and Malaysians. Though the department, in its report titled Report of Special Survey on Effects of Covid-19 on Economy and Individual (Round 1), added the caveat that the figures should be interpreted with caution as they are not considered “official statistics … it can be used to support in reflecting the current situation.” That part, reflecting, could have served Muhyiddin and his government well. Here are a few of the report’s findings: a. The agriculture and services sectors registered the highest percentage of job losses compared to other sectors with 21.9% and 15% respectively. b. In the agriculture sector, 33% and 21.1% of workers from fishing and agriculture and plantations sub-sectors respectively had lost their jobs. c. 35.4% of employees in the food services sub-sector have lost their jobs and followed by transport and storage at 18.7%. d. More than two-thirds (71.4%) of self-employed respondents have sufficient savings for less than a month. e. 77.2% of employers and 82.7% of private employees have sufficient financial savings of up to two months. f. 69.7% of those working less than a year and 63.2% of those working between 1-3 years reported that their financial savings will run out in less than a month respectively. g. 25.4% of those working four to 10 years and 27.5 % of those working 11-20 years have sufficient savings of up to 2 months. h. The majority of the employees are unprepared if the MCO is extended except for those working in government-linked companies (GLCs) and multinational corporations (MNCs).

Prime Minister, even your own stats department is screaming bad news. People have and are losing their jobs. And in case you are unaware, some of these companies that have donated money to various Covid-19 initiatives have also taken the opportunity to cut staff salaries. Berjaya Corporation Bhd on March 20 donated RM1 mil to your Covid-19 fund. This is the same Berjaya Corp which a few days ago announced “austerity measures” due to the pandemic. This basically means salary cuts, the percentage of which is to be based on the salary range bracket, and a reduction of fixed monthly allowances. Sapura Energy Bhd’s chiefs Tan Sri Shahril Shamsuddin and Datuk Shahriman Shamsuddin also donated to two Covid-19 funds organised by media group The Edge. But this is the same Sapura that has initiated salary cuts across the board of 5% to 45% as well as “workforce rationalisation,” or the more crude word for that – layoffs. Sure, their defence will be that the C-suite has taken a 50% pay cut, but come on, what is 50% for a chief of whatever. The best part: these companies that have donated are still entitled to tax deductions. No tax breaks or such perks for their unemployed or now poorer staff. Some gallows humour here at the expense of someone’s sanity, but now we really know that a public health crisis can drag you down a notch, from your M40 dreams back into the B40 hole you desperately clawed your way up through blood, sweat and tears. But your T20 boss … he is none the poorer.

B-b-b-but, there is the wage subsidy programme, you say? Well, according to journalist Haresh Deol, after calling up Socso, he was informed that the payment advice emailed was to show that the application had been accepted. The funds, however, would only be transferred in stages, “apabila Perkeso dapat dana.”

Secondly, there’s good ol’ Makcik Kiah and Pakcik Salleh. I wonder how they are doing right now? In his speech on March 27, Muhyiddin calculated that Mak Cik Kiah and family will receive cash support and savings of RM8,664 over six months or RM1,444 per month. But by now, they’d be worrying as they eat into their savings, if they have any. There’s no revenue coming in.

Goodbye, cashflow. And when the RM1,600 reaches them in two tranches, it’ll be too little too late. The Malay Mail has some good anecdotal coverage on the plight of hawkers, cafe owners and traders. Some good pieces include “No work, no EPF savings: Some PPR folks find money drying up as country goes into extended MCO” and “Traders: Closure of PJ’s Jalan Othman wet market could affect supply of fresh produce in Shah Alam, Subang, Damansara.” To think that Muhyiddin actually tried to get us to believe that he understood the plight of the everyday Malaysian when during that interview he mused about using Makcik Kiah and Pakcik Salleh as examples of how down-to-earth he was, including his use of the common greeting, “Apa khabar?” Oh yeah, anyone can go “Apa khabar?” behind a screen. The teleprompter won’t throw a fit. And, since xenophobia has reared its head once again, have we even talked about the legal migrant workers here, who amount to some two million, who have no income whatsoever during this period? They are the backbone of the country’s economic engines, since most of them ply their trade in construction, plantation and services. Didn’t the Ministry of International Trade and Industry announce yesterday that companies in selected services can resume operations as normal, you argue? Well, just like the barbershop gaffe, this edict is poorly thought through. Daycare, schools, and kindergartens are still closed due to the MCO. So where do parents send their kids too? Maybe if they had a domestic worker to deal with their bratty bunch, that’d be great. But how many have such privileges? Heck, it’s a luxury. These things Muhyiddin, MITI minister Datuk Seri Azmin Ali and even Finance Minister Datuk Seri Tengku Zafrul Tengku Aziz will never understand since they have domestic workers to clean up after them.

And, lastly, there is that one-day Parliamentary sitting in May, leaving any chance of proper debate and also implementation of a real fiscal injection out the window. Of course Muhyiddin had something to say about this too. At the interview, he said Malaysians were sick of politics and were expecting the government to tackle issues that they were facing. “The people do not want to talk about politics, they are sick of it. They want to know what the government, the Cabinet ministers, the administration today is doing to tackle the issues that they are facing.” But how is he going to do that when the big fiscal fireworks have to get parliamentary approval? Let’s face it, Muhyiddin wants to rule by fiat. Parliament is dead. And the elites will continue to sigh “Alhamdulilah,” “Hallelujah” and “Thank the Gods” while the rest of us will be left to lick our wounds and pray to the same gods to help us survive unemployment, salary cuts and, more importantly, the banks once the moratorium ends. Best of all, those of us taxpayers will try to eke out a living while begrudgingly paying our taxes to a government that doesn’t seem to care about us. That too is par for the course these days in addition to PR exercises. - Emmanuel Samarathisa

Politicians' arrogance revealed

by their MCO disregard...

During the coronavirus pandemic, the majority of rakyat have, by and large, adhered to the rules, but Malaysian politicians who openly defy the strict conditions just show that they consider themselves above the law and that the law only applies to ordinary citizens. When politicians misbehave, the nation loses all the trust and respect for them. Don't they know they should set a good example to the others? Breaking the law has only increased the people's ire and disgust of them. In a live telecast on March 18, Muhyiddin Yassin pleaded with Malaysians to observe the Movement Control Order (MCO) and desist from holding gatherings, going on holidays, or "balik kampung". He said, "...Just stay at home and protect yourself and your family." His plea had been made when it was reported that despite the MCO, bus stations were busy with people rushing back to their hometowns, while the police had reported that highways to the north, south and east were congested. Muhyiddin said the lockdown would contain the spread of coronavirus infections, and help control the number of people who could contract the virus. He also said coronavirus had an incubation period of 14 days, and that the symptoms might not show up for two weeks. So, why did the politicians who broke the MCO rules disregard this important message to keep the people safe and stop an escalation of infection? Many Malaysians have long since realized that the laws only apply to them and that many politicians break the rules. They have little faith in the system, and as one social observer said, "There are two sets of laws: one for the politicians, and another for ordinary people. A person who steals milk powder to feed his starving baby is jailed and fined. A politician who steals millions of taxpayers' money is allowed to escape scot-free. Where is the justice?"

On April 22, senior minister Ismail Sabri said 17,735 individuals had been arrested for violating the MCO. This is only 0.06 percent of the country's population of 31 million and shows that majority of Malaysians are observing the MCO rules. In contrast, a number of politicians from the ruling coalition Perikatan Nasional (PN) have openly flouted the MCO, including Terengganu menteri besar Ahmad Samsuri, deputy health minister Dr Noor Azmi Ghazali, Perak executive councilor Razman Zakaria, and deputy youth and sports minister Wan Ahmad Fayhsal. A minister invited people to record a TikTok video in her office, and the daughter of Umno-Baru president visited politicians in Putrajaya. Why are politicians and politically connected people allowed to visit one another? Wouldn't a telephone call do? What message does it send to the public? What does it say, when a single mother was given a 30-day jail term for violating the MCO but Terengganu MB Ahmad Samsuri will not get charged for the same offense? Photographs of Ahmad dining with former MB Ahmad Said have been circulated on social media. The former MB will not be charged. The Attorney-General's Chambers (AGC) has classified Ahmad Samsuri's case as "No Further Action" (NFA). No one is making excuses for the single mother, but did the magistrate consider the trauma that will be inflicted on the single mother's 6-year-old son? Who will take care of him during his mother's imprisonment? Why was she not given the same sentence as the MB? Justice should be seen to be dispassionate and impartial. When photographs of deputy health minister Dr Noor Azmi Ghazali and Perak exco Razman Zakaria having a meal with 18 other people in a tahfiz school in Lenggong were uploaded onto Facebook, there was a public uproar. There was no social distancing and the gathering was not essential under the terms of the MCO. The two were investigated and finally charged at a court in Grik for violating the MCO. They were fined RM1,000.

Many questions remain. Would these two and the others who were seen in the photographs have been investigated if not for the rakyat's condemnation? Few people are satisfied with the sentence, especially as these men should have led by example. They probably only apologized because their boss had seen how their behavior had angered the rakyat. In most other countries, people who hold senior positions in government and have committed serious breaches of the law have resigned because they have brought shame to their departments and their leaders. Elderly people who walked to buy food for their families were thrown into prison for breaking the MCO. A single mother was jailed, but two others who were present in court on the same charges were only fined. The sentencing seems very haphazard. Was each individual's circumstances considered? It appears that in Muhyiddin's administration, double standards and different punishments for the public and government officials are here to stay. Jail is reserved for members of the public, when by right government officials should have been more severely punished. As for the RM1,000 fine, one is reminded by the words of a former Umno-Baru minister who said RM2 million is like loose change for him. If Muhyiddin wants to make a difference, the hypocrisy and double standards must cease. - Mariam Mokhtar

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Bukan masa nak tolong Rohingya,

utamakan warganegara kita dulu...

Sindiket bawa 202 Rohingya di L'kawi minggu lalu Kenakan RM2,000 seorang. Menteri kata ahli keluarga sudah ada di negara ini perlu bayar tambahan RM13,000. Rancangan bawa masuk pelarian sudah lama dirancang. Perancangan membabitkan sindiket, ejen. Rohingya Myanmar ni bayar RM2,000 kpd sindiket di Cox Bazar, Bangladesh untuk sampai di sini ahli keluarga kena bayar RM13,000 kepada ejen jumlah dibayar ialah RM15,000 semuanya. "Kita akan terus buru sindiket terbabit" Menteri kata demikian pada sidang media di IPD Langkawi,selepas menyertai pemantauan perairan membabitkan APMM, Polis Marin turut hadir KSU KDN, Pengarah KDNKABCD, Ketua Imigresen, Ketua Maritim.

SIAPA DALANG DI SEBALIKNYA? Web rasmi KDN berkongsi modus operandi sindiket membawa masuk pelarian secara haram dengan bayaran sebanyak RM15,000 untuk 1 kepala. Kaedah Bayaran RM2,000 di Bangladesh / Myanmar dan bakinya apabila berjaya mendarat di Malaysia maka ahli keluarga sedia ada di Malaysia perlu membayar lagi RM13,000 untuk 1 kepala sebelum mereka boleh ambil ahli keluarga yg diseludup masuk. Bayangkan 1 kapal ada 400 orang maka RM15,000 x 400 = RM6,000,000 (RM6 juta!!) adalah satu perniagaan amat menguntungkan. Jika dalam 1 tahun sindiket dapat membawa masuk 10,000 orang maka bayaran mereka terima sekitar RM150,000,000 (RM150 juta). Tolaklah kos sewa kapal ikan, makan minum atas kapal dan kos diesel dan kos pelincir lain jika ada adalah 30% bersamaan RM45 juta maka ada baki RM105 juta untung bersih setahun untuk hanya 10,000 kepala sahaja. Syarikat MAS / Malindo / Air Asia pun tak boleh nak untung RM105 juta untuk terbangkan 10,000 penumpang sahaja. MAS yang mengangkut berjuta-juta penumpang setahun pun masih rugi RM791 juta pada tahun 2018.

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Hukuman menyeberangi sempadan Negara... 1. Jika anda menyeberangi sempadan Korea Utara secara haram, anda akan dihukum 12 tahun kerja pecah batu. 2. Jika anda menyeberangi sempadan Iran secara haram, anda akan dipenjara 100%. 3. Jika anda menyeberangi sempadan Afghanistan secara haram, anda akan ditembak mati. 4. Jika anda menyeberangi sempadan Arab Saudi secara haram, anda akan dipancung pada hari Jumaat. 5. Jika anda menyeberangi sempadan Amerika Syarikat secara haram, anda akan dipenjarakan sebagai pengganas. 6. Jika anda menyeberangi sempadan British secara haram, anda akan ditangkap, didakwa dan dihantar ke penjara. 7. Jika anda menyeberangi sempadan MALAYSIA secara haram, anda berpeluang tinggi untuk mendapat:

- Mykad sementara atau - Status PR Penduduk Tetap atau - Kad UNHCR untuk cari kerja - Lesen Memandu - Tempahan Kerja - boleh dapat Kad kredit - boleh buka akaun di mana2 bank - mendapat pendidikan percuma termasuk dalam bahasa Myanmar - Penjagaan kesihatan dgn kos minimal - jika anda wanita hamil boleh bersalin di hospital kerajaan - boleh jadi tauke kedai runcit. - boleh jadi bos bagi orang Melayu - boleh beli rumah - boleh beli tanah free hold - boleh dapat keistimewaan Khas Bumiputera jika anda Islam, berbahasa Melayu - akan dapat hak mengundi (jika ada Projek IC di kawasan anda) - boleh kahwin wanita Melayu lebih daripada satu - boleh guna nama isteri Melayu untuk pinjaman / bantuan bumiputera - boleh buang isteri Melayu dan lari balik ke Pakistan, Bangladesh, Indon - isteri Melayu akan tanggung pinjaman bumiputera - akan dibela parti politik Melayu /Islam,terutamanya UMNOPAS - boleh sertai kumpulan pengganas Salafi / Wahabi / Abu Sayaf

OSTB Conclusion : Jadi apa pula akan berlaku kepada kes-kes pelarian Rohingya yang mana kapalnya sudah selamat sampai di Malaysia tetapi 'ahli keluarga mereka' di sini tidak mempunyai duit baki RM13,000 itu untuk "membebaskan" mereka daripada sindiket seludup Rohingya itu? Takkan pelarian Rohingya itu akan dihantar pulang ke Cox Bazaar? No way. Sudah tentu sindiket seludup Rohingya itu perlu ada tempat sulit untuk 'penjarakan' pelarian Rohingya sambil menunggu ahli keluarga mencari baki wang RM13,000 untuk 'membebaskan' mereka daripada sindiket. Di manakah agaknya "kem-kem tahanan" atau "holding tank" untuk penjarakan pelarian Rohingya yang belum bayar baki RM13,000 itu? Apakah mereka akan di tahan di Ritz Carlton Langkawi? Saya rasa tidak mungkin. Apakah mereka akan ditahan dalam hutan atas bukit yang jarang di patrol oleh pihak berkuasa? Saya main agak-agak saja. And then kalau ahli keluarga pelarian Rohingya itu tidak mempunyai duit RM13,000 macam mana pula? Apa yang akan berlaku? Apakah mereka akan ditanam dalam mass grave pula? Just thinking of the possibilities ok.

Ataupun apakah mereka boleh minta pinjaman jangka pendek (short term financing) daripada persatuan atau organisasi tertentu yang terlibat dengan business seludup Rohingya ini? atau daripada kalangan mereka sendiri, yang sudah kaya raya di sini. Takkan dia pinjam duit daripada Maybank. Dengan kadar interest rate yang berpatutan untuk membayar balik pinjaman duit 'membebaskan' ahli keluarga mereka? You see folks, at RM15,000 satu kepala and 150,000 Rohingya in the country it adds up to RM2,250,000,000.00. Kalau tak tahu baca that is RM2.25 BILLION !! Katakanlah this figure is off by 90%. Say it is only 10% of RM2.25 Billion.That is still RM225 MILLION. That is a lot of money bro. From my knowledge of the Bazaar Ramadan corruption, it was only millions of Ringgit or tens of millions. Yet the corruption went all the way up up and up. This Rohingya human trafficking involves hundreds of millions of Ringgit. This has to involve really high, high people. Nak angkut dalam satu lori pun tak cukup. Kena angkut dengan kapal Rohingya yang besar sekali. - OSTB

Mau turun kat Langkawi dan Selayang...

cheers. Sumber asal: Din wants to rule by fiat... Baca selebihnya di Din wants to rule by fiat...

#Blogger

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wederzgroup · 4 years

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Sungzu Portable Power Station 1000W, 1010Wh Portable Solar Generator Lithium Battery Backup Power Inverter with 2 110V AC Outlet, 2 DC, 4 USB for Home and Outdoor Camping Emergency

Price: (as of - Details)

SUNGZU Potable Power Station, A Continuous Power Supply! No Power Outage Anxiety Any More! Feature: ● A perfect power source for both home battery backup and outdoor activities like camping, hunting, fishing, outdoor party and music festival etc. ● High capacity for most device with load power less than 1000W, such as smart phone, laptop, Camera, light, TV, fan, drone, CPAP, power bank, mini refrigerator etc. ● Clean power with no noise and pollution. Recharged via the solar and wall. Support a continuous power outdoor. ● More safe with short circuit protection, over-charge protection, over-heat protection, over-discharge protection, over-voltage protection. Specification: Built-in power battery: 25.9V / 39Ah /1010Wh (3.7V/273,000mAh) Input voltage: 32~45V Input current: 9A max Output DC voltage: 5V USB, 12V Output current: USB 1: 5V/3A(4 ports), 12V/8A (2 ports) Output AC output: 110V/60Hz (pure sine wave) 2 ports Size: 408mm×164mm×273mm N.W: 25.4 pounds/11.5KG Package includes: 1*SKA1000 portable power station 1* AC adapter (to charge Ska1000 via wall outlet) 1*cigar lighter output cable 1*Micro USB 8*fuse tube 1*instruction 1*quick start guide Warning: 1. Do not place your finger or hand-held conductor inside the “AC outlet” to avoid electric shock. 2. Do not connect AC output of SKA1000 with its own DC input, otherwise the unit SKA1000 would be damaged. 3. Please do not store or use this unit in humidity areas to avoid short or damage the unit 4. This item is built-in battery please do not squeeze or crash unit violently or it would case a fire 5. Without authorization .please do not disassemble or modify the unit. 6. Please keep away from children 【A perfect portable power station makes you out of power outage anxiety. 】Ideal power supply for home and outdoor battery backup or emergency, which works for almost all the electric device less than 1000W(the peak power 2000 watt) such as smart phone, laptop, Camera, light, TV, fan, drone, CPAP, power bank, mini refrigerator etc. No worry for the power outage once you get this portable power station. 【High capacity power station】1010Wh(273,000mAh/3.7V), much bigger capacity to provide more and longer power supply. Equipped with 2*AC outlets (110V 9.1A 60Hz), 2* DC ports (12V/8A max), 4*USB ports (5V 3A max), OLED screen with display charging/discharging and battery life status. Perfect for home and shop battery backup, outdoor activities, medical equipment, construction site etc. 【Easy to recharge via the solar and wall socket】 This portable generator is equipped with a lithium battery pack. It can be recharged directly though the wall socket or a 32-45V output solar panel (Sungzu 100W super compatible, sold separately). Full charged only takes 5.5~7hrs by wall socket, takes around 8hrs by 200W and 14hrs by Sungzu 100W solar panel at normal sun illumination. Clean power, more eco-friendly than the traditional generators, Fuel-free and Gasoline-free, No smoke, No noise. 【Safety and warranty】 SKA1000 is certified with CE RoHS FCC, which with perfect safety systems: short circuit protection, over-charge protection, over-heat protection, over-discharge protection, over-voltage protection. Return within 30 days hassle-free, 18 months product warranty and lifetime customer service commitment. 【What you get】 Package included 1*1000-watt portable power station, 1*adapter, 1*power cable, 1*micro USB cable, 1*cigarette lighter line, 8*fuse tubes, 1*instructions, 1*quick start guide. Read the full article

#generatorsportablesolar

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sunilkumargupta-blog · 4 years

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Better opportunities for New India to become a world manufacturing hub after COVID-19

Do we actually know where the world will be after the next 6 months? As the Corona Virus pandemic gradually spreads its claws all over the world, we are trying hard, joining hands, trying to fight the destruction to make the mother earth sustainable. We are maintaining social distancing and lockdown to tackle the ill effects of the virus; the businesses have pressed the pause button and the whole economy is witnessing a downfall. The stock markets were the first in the line to get affected. The travel industry has been massively hit since there were restrictions in travel and gradually it has put a check in the domestic and international travel, although the supermarkets and the online groceries have witnessed a high demand due to the social distancing and the lockdown. Immediately after the outbreak, people had been piling groceries at their home. There has been a major drop in the air pollution post the lockdown and we could see the nature dancing in its own rhythm.

Although the lockdown resulted in a halt in the manufacturing and production chain all round the world, but it is likely that the countries like India, with cheap labour will climb the ladder and end up starting inhouse manufacturing and exports. According to Customs statistics, China’s foreign trade volume in 2019 stood at RMB31.54 trillion, up by 3.4% year-on-year (similarly hereinafter). Exports rose by 5% to RMB17.23 trillion and imports grew by 1.6% to RMB14.31 trillion. The trade surplus increased by 25.4% to RMB 2.92 trillion. In 2019, China’s foreign trade registered a momentum of improving quality amid overall stability. The People’s Republic of China shipped US$2.499 trillion worth of goods around the globe in 2019 along with its various other partner countries. As per the latest available data, it may be seen that approx. 60.2% of products were exported from China and bought by importers in: the United States (16.8% of the global total), Hong Kong (11.2%), Japan (5.7%), South Korea (4.4%), Vietnam (3.9%), Germany (3.2%), India (3.0%), Netherlands (3%), United Kingdom (2.5%), Taiwan (2.2%), Singapore (also 2.2%) and Malaysia (2.1%). With the closing down of the manufacturing and distribution units in China there has been a major drift and scarcity of the imported products and the small scale distribution channels. China posted a $295.8 billion trade surplus with the United States in 2019.

With the major halt in the exports by China, there is a sudden shortage of supply of various products like Phone system devices including smartphones, Computers, optical readers, Integrated circuits/micro assemblies, Processed petroleum oils, Solar power diodes/semi-conductors, Automobile parts/accessories, Lamps, lighting, illuminated signs, Computer parts, accessories, Models, puzzles, miscellaneous toys and TV receivers/monitors/projectors market all over the world.

What’s coming next?

In order to save the entrepreneurs and the industry in this crisis, the Indian Government has been taking certain steps to:

A. Prevent the opportunistic takeovers of the Indian businesses; and

B. Make a conducive environment to make India a global manufacturing hub

The above may be described in details.

A. Prevent the opportunistic takeovers of the Indian businesses:

Check post on the Foreign Direct Investment (FDI):

On April 18, 2020, the Department for Promotion of Industry and Internal Trade (DPIIT) issued its Press Note 3 of 2020 (PN 3 of 2020 Series) whereby they have reviewed the current Foreign Direct Investment (FDI) Policy and has brought in major changes in the policy in order to prevent opportunistic takeovers/acquisitions of the Indian companies due to the current COVID-19 pandemic. According to the release,

“A non-resident entity can invest in India, subject to the FDI Policy except in those sectors/activities which are prohibited. However, an entity of a country, which shares land border with India or where the beneficial owner of an investment into India is situated in or is a citizen of any such country, can invest only under the Government

route. Further, a citizen of Pakistan or an entity incorporated in Pakistan can invest, only under the Government route, in sectors/activities other than defence, space, atomic energy and sectors/activities prohibited for foreign investment.”

Countries sharing land borders with India are Pakistan, Bangladesh, China, Nepal Bhutan and Afganistan. Hence by this Press Note, the Department has allowed both direct and indirect investment in India by any entity or beneficial owner or citizen of that country ONLY by way of Government Approval. The Press Note further says that if there is any transfer of ownership of any existing or future FDI in an entity in India, directly or indirectly, resulting in the beneficial ownership falling within the aforesaid restriction/purview, such subsequent change in beneficial ownership will also require Government approval. The primary intent of the Department is to regulate any attempts by Chinese entities/ beneficial owners/citizens to take control of Indian entities which have been affected by COVID-19 lockdowns. Now, fresh infusion of funds by Chinese entities in existing investments in India would also require government approval. The Department is even putting the restrictions on the multi-layered structures, spread across various jurisdictions.

Subsequently, the Securities and Exchange Board of India (SEBI) has issued directives to the custodians for the FPI investments or beneficial interest information of investors coming from China as well as Hong Kong. It is now scanning the hubs such as the Cayman Islands, Singapore, Ireland and Luxembourg to track the direct and indirect investments from China and Hong Kong in the country.

It has been mentioned that the intent of the Department is to curb opportunistic takeovers/acquisitions of the Indian companies due to the current COVID-19 pandemic. Deep down it can be said that post the HDFC Ltd. disclosure on April, 11, 2020, that the China’s central bank People’s Bank of China (PBoC) has increased its stake in the Company from 0.8% to 1.01%, the Department and SEBI has been minutely watching the FDI movement in the country.

B.Make a conducive environment to make India a global manufacturing hub:

i. India the next manufacturing hub:

The effects of the recent lockdown in China were felt by many Japanese, Korean and other manufacturers which witnessed the supply of components for their factories grind to a halt since factories in China shuttered. Now, various companies are planning to shift its manufacturing units from China to the different other Asian states. Countries like Japan are in talk with the Indian Government to set up their base in India. Market giants like Google, Microsoft, Apple are even planning to move out of China and set up their manufacturing units in countries like Vietnam, Thailand etc.

India will be a very good choice for these companies due to its extremely cheap labour cost, maximum workforce base, favorable diversified weather conditions and huge area in the country.

ii. Self reliant:

As a result of the complete shut down of the economic activity, India along with other countries is expected to face a downfall in the GDP in the 1st quarter of the Financial Year 2020–21. Although from the second and third quarters, it is expected to witness a steady growth with the increase in in-house manufacturing and supply as per the market demand. There is ample opportunity for the SMEs in India to regularize the global supply chain disruption caused by the outbreak of the pandemic COVID-19. India has less dependence on China for the intermediate goods and with the added factor of cheap labour and lower manufacturing cost, the manufacturing sector will see a boom in its growth history. India can easily manufacture the various consumer products and export both the raw materials and the finished products in large scale.

iii. Employment Generation and Government support:

Although the sector wise production is expected to decrease in the recent times, but there is huge scope of employment generation in the coming days. The Indian Government has been reviewing its policies in order to combat this crisis and have even come up with its recent decisions on easing of Working Capital Financing, infusing liquidity in money markets, Greater access to MSF (Marginal Standing Facility), Permitting Banks to Deal in Offshore Non-Deliverable Rupee Derivative Markets (Offshore NDF Rupee Market) etc. Moreover, the RBI has already infused INR 280,000 crore, equivalent to 1.4% of Indian GDP, which along with the current tools announced by the RBI will result in liquidity injection of 3.2% of the GDP and is fully prepared to take ‘whatever tools are necessary — all instruments, conventional and unconventional are on the table’. Consequently, surplus liquidity in the banking system has increased sharply in the wake of sustained government spending.

Regional offices of the RBI have supplied fresh currency of INR1.2 lakh crore from March1 till April 14, 2020 to currency chests across the country to meet increased demand for currency in the recent scenario. RBI has even undertaken measures to target liquidity provision to sectors and entities which are experiencing liquidity constraints and/or hindrances to market access. It has been decided to conduct targeted long-term repo operations (TLTRO 2.0) for an aggregate amount of INR 50,000 crore, to begin with, in tranches of appropriate sizes. As confirmed by the RBI in the recent press release, the apex bank will review the operations and the situation and accordingly may increase the amount as per the requirement.

iv. Trade Balance:

Foreign direct investment (FDI) is one of the major sources of non-debt financial resource for the economic development of India. Foreign companies invest in India to take advantage of relatively lower wages, large consumer base, special investment privileges such as tax exemptions and for the benefit of ease of doing business.

According to the report shared by the Department for Promotion of Industry and Internal Trade (DPIIT), FDI equity inflows in India in April-December, 2019 stood at US$36.79 billion, indicating that government’s effort to improve ease of doing business and relaxation in FDI norms is giving positive results. As per the latest RBI Press Note, the trade deficit declined to US $9.8 billion in March 2020 from US $11 billion a year ago. After the economic activities resumes its operation post COVID-19, the Current Account deficit may be reduced by increasing the export on a large scale and decreasing the import of goods.

v. Growth in the Agricultural Sector:

The country’s agriculture sector accounts for 17% contribution in the GDP and has a growth rate of 3.4%. Approx. 55 cr population of the country is engaged in the agriculture sector which tantamount to 58% employment generation. Since agriculture sector is the prime sector employing the maximum population of India, so the Government focusses on increasing the percentage of the contribution to GDP from this sector. It has even been observed that by April 10, pre-monsoon kharif sowing had begun strongly, with acreage of paddy — the principal kharif crop — up by 37% in comparison with the last season. India has set up an ambitious goal of doubling farm income by 2022.

The farmers should now have a direct reach to the market so that they can sell their products in the market directly and at a reasonable rate; use of new techniques and technology to be introduced to attract youth to this sector and ultimately achieve better production and exports.

vi. Growth in GDP:

With the massive side effects of the pandemic spread, our dependence on the import of raw materials and consumer goods will be curtailed forcefully. Service industry will grow extensively, and tourism industry will be linked with the healthcare sector so as to give an added benefit to the youth employed. As per the RBI report, India is expected to post a sharp turnaround and resume its pre-COVID pre-slowdown trajectory by growing at 7.4 per cent in 2021–22. As the trade balance is maintained, Indian GDP is expected to make a remarkable growth in the next few quarters.

Steps already taken

The Indian Government had recently announced economic package of INR1.7 lakh crores under Prime Minister Gareeb Kalyan Yojana to protect the poor citizens of the country from the economic impact of the nationwide lockdown and decided to defer the Tax and regulatory payments along with compliance filings as a relief to combat the existing crisis and for easy governance. The apex Bank has also come up with some positive arrangements to infuse liquidity in the market and control the turmoil. Some of the steps taken may be highlighted as below:

a) Money markets were facing pressures from redemptions by mutual funds. The Targeted Long-term Refinancing Operations (TLTRO) will ease the liquidity position of the banks, for which they were supposed to invest in investment-grade bonds, commercial paper etc. In order to reduce the adverse effects on the economic activity leading to pressures on cash flows, the RBI had decided to conduct auctions of targeted term repos of up to three years tenor of appropriate sizes for a total amount of up to ₹1,00,000 crore at a floating rate linked to the policy repo rate. This will reassure the money markets to work without the crunch of funds.

b) The RBI recently issued a press note confirming that they had a talk with the NABARD, SIDBI and NHB and accordingly decided to provide special refinance facilities for a total amount of INR 50,000 crore to NABARD, SIDBI and NHB to enable them to meet sectoral credit needs.

c) The cut of 75 basis points in repo rate is a powerful signal, aimed at lowering the cost of funds. The interest on floating rate housing loans will come down, helping household cash flows. Repo rate has come down to 4.40 % from 5.15%. The RBI also cuts the reverse repo rate two times, one by 90 basis points and another by 25 basis points, which has now come down to 3.75% to discourage banks to passively deposit funds with the RBI.

d) Liquidity coverage ratio requirement for Scheduled Commercial Banks has been brought down from 100% to 80% with effect from April 17, 2020.This requirement shall be gradually restored back in two phases — 90% by October 1, 2020 and 100% by April 1, 2021.

e) Health insurance scheme of INR 50 lakh for health workers fighting COVID-19 in Government Hospitals and Health Care Centres has been announced.

f) In order to help the poorest section of the society, a total of 20.40 crores PMJDY women account-holders would be given an ex-gratia of INR 500 per month till June, 2020 to help them run their household during this difficult period. The Government of India has also declared to spend INR 31,000 crores for this purpose.

g) Free gas cylinders, would be provided to 8 crore poor families till June, 2020 and three gas cylinders would be provided to the beneficiaries of Pradhan Mantri Ujjwala Yojana during this period.

h) Under National Rural Livelihood Mission Scheme, collateral free loans is doubled from INR 10 Lakhs to INR 20 lakhs to 63 lakhs Women Self Help Groups(SHGs) which would ultimately benefit 6.85 crore households.

i) It has been now decided that where the time limit of due dates for issue of notice, intimation, notification, approval order, sanction order, filing of appeal, furnishing of return, statements, applications, reports, any other documents and time limit for completion of proceedings by the authority and any compliance by the taxpayer, including investment in saving instruments or investments for roll over benefit of capital gains under Income Tax Act, Wealth Tax Act, Prohibition of Benami Property Transaction Act, Black Money Act, STT law, CTT law, Equalisation Levy law, Vivad Se Vishwas law is expiring between March 20, 2020 to June 29, 2020, it has been extended to June 30, 2020.

j) Taxpayers having aggregate annual turnover less than INR 5 crore will be allowed to file return under Form GSTR-3B due in March 2020, April 2020 and May 2020, till 30th June, 2020 without any interest, late fee, and penalty whereas others having annual turnover more than or equals to INR 5 crore will be allowed to file the same with a reduced interest of 9% p.a. instead of the existing 18% p.a., from 15 days after the relevant due date but without any late fee or penalty.

k) In order to reduce the burden and make the default good, the Ministry of Corporate Affairs has introduced Companies Fresh Start Scheme, 2020 and LLP Settlement Scheme, 2020 with a one-time relaxation to law abiding Companies and LLPs so as to enable them to complete their pending compliances without payment of any additional filing fees, thereby the entrepreneurs may focus on the growth of their businesses.

Recommendation:

An intensive study on the past economic performance of the Indian economy vis-à-vis the global economy and the effects of the COVID-19, a few recommendations are likely to be highlighted for the taking advantage of the better opportunities to the Indian economy:

a) The India Government should now focus on interacting with the business entities and Governments of various other countries to set up their manufacturing base in India. The Central and State Governments may set up specific workforce for interacting with the foreign investors and frame guidelines for timely completion of the projects. The said workforce may be formed jointly by the industry experts, professionals and Government representatives.

b) New guidelines for Foreign Portfolio Investment (FPI) may be introduced in order to safeguard the opportunistic takeovers/ acquisitions of the Indian businesses by way of indirect overseas investments.

c) While calculating the qualifying criteria of the non-performing assets (NPA) the lockdown period and the long-term economic impact of the COVID-19, may be excluded;

d) The Government may incentivize digitalization and facilitate payments through digital mode only and the charges on the credit card/ digital payments may also be waived off;

e) The compliance structure/norms may be diluted for the MSME sector in order to encourage ease of doing business in India. Post the COVID-19 effects, India is expected to have the largest job-market ready for youth population in the world by 2020–21 and this sector is sure to support India in improving its financial inclusion and mitigating the rural-urban divide. Several policy interventions along with technology and innovation will continue to play a pivotal role in creating a business- friendly atmosphere for the MSMEs;

f) There may be a reduction in the short-term GST rate for some specific sectors and further the GST deposit may be linked to the receipt of the amount for the services rendered to balance the cash flows for the time being. Presently GST deposit is based on the invoice raised and not on the payment basis. It can in return reduce the burden on the SME sector and in return reduce the defaults;

g) Tax compliances may be diluted and there may be a reduction in the Tax rate and interest rate on business borrowings in order to give relaxation to the manufacturers and the consumers. Tax rate reliefs may also be allowed to the proprietorship and partnership entities like the Companies;

h) In order to encourage export and reduce import, the Government may bring certain relaxations on the export compliances and also expedite the refund and duty drawback process to stabilize the cashflow operation;

i) There should be compulsory health and life insurance by the Government for the healthcare workers, police, Safai karamcharis who are working endlessly for eradicating this menace.

Conclusion

The recent reforms or policies taken up by the Government clearly demonstrates that the we are leaving no stone unturned to make India a better place to do business and to improve opportunities for all sections of society along with increasing prosperity. India now has the best opportunity to become the economic giant and work as ‘one-size-fits-all’ country and the best business destination in the world. India has always been a friendly partner to the other countries and has now even decided to relax the export of hydroxychloroquine to the USA on case to case basis. It is good to quote that in the coming days India will be the prime source for supply of all essential and life saving commodities to the world. The World Trade Organisation sees global merchandise trade contracting by as much as 13–32 per cent in 2020. Activity in the corporate bond market has picked up appreciably, with several corporates making new issuances. The level of foreign exchange reserves continue to be robust at US $ 476.5 billion on April 10, 2020 equivalent to 11.8 months of imports. India is expected to become the next economic powerhouse with its core competencies.

In order to put a further check on the import of goods, the Government may increase the duty on import of consumer goods and incentive to be given to the MSME sector in order to encourage the production of goods and increase the exports of the country. New technologies are required to be used in the cottage and rural divisions. The government incentives are required to be increased in the manufacturing sector along with easy accessibility of finance and market to the youth so that they can engage themselves in this sector and can start manufacturing without any marketing or financial difficulty.

Written & Compiled by CA Sunil Kumar Gupta

Founder Chairman, SARC Associates

www.sunilkumargupta.com www.sarcassociates.com

#covid-19 #quartine #economy #gdp growth

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