Latest news with #SMI
Focus Malaysia
7 days ago
- Business
- Focus Malaysia
The day when SMI has all its AGM resolutions rejected by majority shareholders
PROPERTY developer South Malaysia Industries Bhd (SMI) which is facing backlash over governance concern has had all four resolutions proposed by its current board of directors 'rejected and voted down' during the company's 53rd annual general meeting (AGM) in Johor Bahru today (June 26). This decisive rejection came from proxies representing Target 1 Sdn Bhd, Honsin Apparel Sdn Bhd and HIQ Media (M) Sdn Bhd who collectively hold 50.05% of SMI's shares. 'Given this absolute majority, the outcome of the voting was effectively determined, rendering further polling unnecessary,' the company pointed out in a Bursa Malaysia filing 'Consequently, pursuant to an order from the Kuala Lumpur High Court dated June 20 arising from an application filed by (self-nominated director) Teh Chee Hoe, the AGM has been adjourned to a future date to be set by the Court. The four resolutions set out in SMI's Notice of the 53rd AGM were: To re-appoint Messrs UHY Malaysia PLT as auditors of the company until the conclusion of the next AGM at a remuneration to be determined by the directors; To approve the payment of directors' fees and benefits of up to RM350,000 to non-executive directors of the company and subsidiaries; To re-elect Latifah Abdul Latiff who is retiring by rotation given she has offered herself for re-election; and Authority to allot and issue shares in general pursuant to Sections 75 and 76 of the Companies Act 2016. 'This unprecedented outcome demonstrates shareholders' concerns regarding the governance and direction of the company, hence marking a pivotal moment for SMI and its stakeholders,' a market observer told FocusM. Earlier on June 17, SMI said it had rejected a proposal to nominate Teh and three others as directors at its AGM, citing violations of corporate and securities regulations. In a stock exchange filing, SMI had received the proposal on June 12 from Teh who nominated Ng Fun Kim, Ling Chi Hoong, Amy Tan Li Peng and himself for election to the company's board. 'Based on the investigations by the company, the SMI board of has been advised that Teh did not satisfy the requirements of Section 323 of the Companies Act 2016 (CA 2016),' noted SMI. 'Additionally, he (Teh) is also connected to Target 1 Sdn Bhd which has issued a notice of unconditional mandatory take-over offer dated Aug 20 on the company (SMI).' At the close of today's (June 26) market trading, SMI was down 0.5 sen or 1.54% to 32 sen with 1,000 shares traded, thus valuing the company at RM67 mil. – June 26, 2025
Daily Mirror
13-06-2025
- Health
- Daily Mirror
Medical conditions that could exempt you from paying any council tax
People with certain medical conditions may be able to get a reduction on their council tax bill - or in some cases, get the bill wiped entirely. Here's what you need to know Households could potentially save hundreds each year on council tax if they're eligible for a discount due to certain medical conditions. MoneySavingExpert (MSE) has reported that many across England, Scotland, and Wales could be missing out on this relief, particularly after the recent surges in council tax bills. Following the hikes since April, nearly all councils escalated charges close to the maximum allowed. Council tax has seen an average climb of 5.1% over the past two years. The typical band D council tax bill now stands at a hefty £2,280 annually, marking a £109 rise from the previous year and soaring by 20% compared to five years back when it was a more modest £1,898. Significant reductions of up to 50%, or even complete exemptions, are available for those classified as "severely mentally impaired", though what exactly constitutes severe mental impairment hasn't been strictly defined by the government. MSE has identified a range of medical conditions that might warrant such council tax discounts, reports the Manchester Evening News. Medical conditions that may exempt you from paying council tax Dementia (including Alzheimer's) Parkinson's Severe learning difficulties Multiple sclerosis Cerebral palsy Severe stroke Schizophrenia They explain: "You can be diagnosed as SMI as a result of a range of conditions – which could include things like dementia, Schizophrenia, multiple sclerosis, having had a stroke, or having had an accident which permanently affects your intelligence and social functioning. "Many conditions can underlie being SMI, but no condition means a person is definitely also SMI. Being SMI is a doctor's diagnosis in its own right." To be eligible for a council tax discount due to SMI, a medical professional must certify the individual as severely mentally impaired. The legal definition states that someone is considered severely mentally impaired if they have "a severe impairment of intelligence and social functioning (however caused) which appears to be permanent". What are the additional criteria for the discount? To qualify for the discount you must also be able to prove you are claiming certain benefits, or in some cases, just that you are eligible for them. Qualifying benefits may include: Attendance Allowance Universal Credit Disability Living Allowance Income Support Personal Independence Payment Further information can be found on the website and local authorities can provide full eligibility criteria for the discount on their websites. How much can you get off your council tax bill? For those living alone with an SMI diagnosis, the council tax discount is 100%, effectively eliminating the bill. You could potentially receive a 50% discount on your council tax bill if you only live with individuals who are 'disregarded' from council tax - those not counted when determining the number of people in a household, such as individuals under 18, those on certain apprenticeship schemes, full-time students, live-in carers and diplomats. If you reside with one other individual who is not discounted, then you can obtain a 25% discount. Depending on the local council to which you pay your tax, you may also be eligible for back payments. As per MSE, some councils will retroactively apply the discount by six years, but each council has its own policy and they are not legally required to backdate the discount.
Yahoo
11-06-2025
- Health
- Yahoo
List of seven medical conditions that could exempt you from paying any council tax
People with certain medical conditions could receive a partial or complete reduction in their council tax bill. Being eligible for a council tax reduction could see households save hundreds of pounds each year. According to MoneySavingExpert (MSE), hundreds of thousands of people in England, Scotland and Wales could be entitled to this reduction and not claiming it. It comes after council tax bills were put up in April, with almost all councils hiking bills by up to, or close to, the maximum rate permitted. On average, council tax bills have increased by 5.1% in the previous two years. READ MORE: DWP confirms group that aren't eligible for Winter Fuel Payment under new rules READ MORE: Record-breaking footballer and TV sports star opens HMO in Oldham Since April 1, the average annual band D bill - the standard measure of council tax - is £2,280 a year in total. That's an increase of £109 from last year and a 20% rise from five years ago when the average bill was £1,898. Join the Manchester Evening News WhatsApp group HERE But people who are classed as "severely mentally impaired" may be able to claim up to 50% off their bill - or in the most severe cases have the whole bill wiped entirely. According to the government, there are two criteria a person needs to meet to qualify for the discount: they must have a certificate from a medical professional, such as a GP, to say they are "severely mentally impaired" they must be able to prove they are claiming certain benefits The government does not define what it means by "severely mentally impaired" but MSE suggests there are several conditions that may qualify for the discount. According to MSE, the following conditions may qualify: Dementia (including Alzheimer's) Parkinson's Severe learning difficulties Multiple sclerosis Cerebral palsy Severe stroke Schizophrenia However, whether the discount is granted or not will depend on an individual's own circumstances and a diagnosis of one of the above does not necessarily mean the discount will be granted. MSE explains: "You can be diagnosed as SMI as a result of a range of conditions – which could include things like dementia, Schizophrenia, multiple sclerosis, having had a stroke, or having had an accident which permanently affects your intelligence and social functioning. "Many conditions can underlie being SMI, but no condition means a person is definitely also SMI. Being SMI is a doctor's diagnosis in its own right." To qualify for the discount, a doctor must provide a certificate confirming that the patient is "severely mentally impaired". According to the law, a person may be classed as such if they have "a severe impairment of intelligence and social functioning (however caused) which appears to be permanent". To qualify for the discount you must also be able to prove you are claiming certain benefits, or in some cases, just that you are eligible for them. Qualifying benefits may include: Attendance Allowance Universal Credit Disability Living Allowance Income Support Personal Independence Payment Further information can be found on the website and local authorities can provide full eligibility criteria for the discount on their websites. If you live on your own then your council tax discount will be 100% - meaning you won't have to pay any council tax. You may get 50% off your council tax bill if you only live with people who are 'disregarded' from council tax - people who are not counted when working out how many people are in a household, including people under 18, people on certain apprenticeship schemes, full-time students, live-in carers and diplomats. If you live with one other person who is not discounted then you can get a 25% discount. You may also be able to get back payments, depending on which local council you pay your tax to. According to MSE, some councils will backdate the discount by six years but each council has its own policy and they are not legally obliged to backdate the discount.
The Hindu
10-06-2025
- Business
- The Hindu
Targeted policy interventions must to push green fuel vehicles in mining: study
India requires targeted and well-defined policy interventions to drive the adoption of alternative fuel Heavy Earth Moving Machinery (HEMM) in mining operations, according to the 'Study on Adoption of Cleaner Vehicles for the Indian Mining Industry'. The study was undertaken by the Sustainable Mining Initiative (SMI), a division of the Federation of Indian Mineral Industries (FIMI) in association with Deloitte which has prepared the detailed report. 'India requires a coherent policy framework that integrates technology-specific incentives, regulatory enablers, infrastructure development, and demand-side interventions,' as per the report. Emphasising that Green HEMMs were significantly more expensive upfront compared with conventional equipment, even though certain alternative fuel technologies like Battery Electric Vehicles (BEV) and hybrid systems offer better total cost of ownership (TCO) over their lifecycle, it said the high initial capital outlay remained a major deterrent. 'To address this, targeted incentives such as capital subsidies, premium rebates linked to fleet size, and upfront payment relaxations are critical to de-risk adoption,' it said. 'Power subsidies for charging infrastructure and reduced financing costs can further accelerate early deployment. Over time, star rating reforms, production-linked incentives, and mandatory adoption clauses can drive scale, lower costs, and mainstream cleaner HEMM usage across the sector,' it said. 'These coordinated efforts will provide sustained policy and infrastructure support for fully decarbonized HEMM sector,' it added. Stating that by 2035, the number of HEMMs would see a significant increase across all categories, the report said, 'This significant growth in HEMM deployment, driven by increased production targets and supportive government initiatives, also brings with it a sharp rise in fuel consumption and associated CO₂ emissions.' As thousands of high-capacity machines are added to mining fleets, the environmental footprint of operations would expand substantially, it pointed out. 'This underscores the urgent need to transition toward alternate-fuel HEMMs—such as those powered by electricity, hybrid systems, or hydrogen,' the report emphasised. 'Proactive adoption of cleaner technologies is critical to ensuring that the sector's growth aligns with India's sustainability and net-zero commitments. It is therefore paramount for the country that key gaps in adoption of cleaner fuel HEMMs must be addressed through targeted interventions,' it stated. Highlighting the gaps and challenges the report stated that the shift towards adoption of cleaner fuels in HEMMs presented a complex set of challenges across multiple dimensions such as commercial viability, the availability and readiness of supporting infrastructure, technical limitations, and gaps in existing policy frameworks. Based on the stakeholder feedback and international learnings, India's roadmap for cleaner vehicle for HEMMs has been developed across three timeframes. In the short term (0–2 years), the focus should be on pilots for Battery Electric Vehicle (BEV) based HEMMs—for establishing proven use cases, offering upfront subsidies on purchase of e-trucks, capital subsidies on setting up charging stations, operational cost reduction, safety standards and financial mechanisms to support early adoption of e-trucks as well as other alternate fuel based HEMMs. The medium term (2–5 years) target should mandate adoption of zero emission equipment in new mining fields, taxation, Product-linked Incentives (PLI) and skill development to encourage cleaner technologies and build a workforce capable of managing and maintaining advanced zero-emission and other fuel technologies in the mining sector. 'The long-term horizon (5 years) envisions structural transformation through mandates for green HEMM adoption, green mining bonds, and hedging instruments for de-risking investments. It also includes developing R&D ecosystems, battery recycling infrastructure, research & development and Innovation —laying the foundation for self-reliant future,' the report said. India produces 95 different minerals, comprising 4 fuel minerals, 10 metallic minerals, 27 non-metallic minerals, 3 atomic minerals, and 51 minor minerals. The country holds notable reserves of iron ore, bauxite, chromium, manganese ore, limestone, baryte, rare earths, and mineral salts. With the mining sector facing increasing pressure to reduce its environmental impact there has been emphasis on adoption of alternate fuel heavy equipment, including electric, hydrogen-powered, and hybrid machines. According to industry analysis, India's mining equipment market generated USD 6.4 Billion in revenue in 2024 and is projected to grow at a CAGR of 6.5%, reaching USD 11.34 Billion by 2033, as per the report. This growth is underpinned by ongoing infrastructure expansion, increasing mineral production, and a policy shift favouring mechanization across both major and minor mineral operations, it said. Surface mining equipment was the largest revenue-generating segment in 2024, accounting for approximately 40% share of the total market. These include excavators, dozers, wheel loaders, crushers, and tippers—machines that form the operational backbone of open-cast mining and quarrying across the country. While surface mining remains the dominant extraction method in India, the underground mining methods has seen the higher growth potential driven by the shift towards underground mining by major mining companies. Indian OEMs have undertaken measures to develop and supply alternate fuel HEMMs in response to the growing demand for cleaner and more sustainable mining equipment. Deployments are currently focused on electric and LNG-powered equipment at a limited scale, while hydrogen-based technologies remain in the development stage, with ongoing trials and testing. Additionally, OEMs are designing HEMMs compatible with biofuels to support the reduction of GHG emissions. 'The adoption of alternate fuels in HEMM is essential for decarbonising the mining sector. However, each fuel technology presents distinct challenges in terms of high upfront costs, lack of charging and refueling infrastructure, technology presents distinct challenges in terms of high upfront costs, lack of charging and refuelling infrastructure, limited models available in the market,' the report highlighted. 'To enable large-scale deployment of alternate fuels in mining, addressing cross-cutting challenges across alternate fuel technologies in mining requires a coordinated strategy focused on infrastructure expansion,' it stated.
Montreal Gazette
04-06-2025
- Business
- Montreal Gazette
Opinion: Canada's climate strategy needs allies. King Charles may be one
Canada is waking up to a hard truth: We are not ready for the climate economy already reshaping the world. Wildfires are now a season. Once-in-a-century floods strike every few years. Meanwhile, the U.S. and China are racing ahead with clean energy manufacturing, critical minerals strategies and massive green industrial plans. If we don't act, Canada risks falling behind — not just environmentally, but economically and geopolitically. That's why Prime Minister Mark Carney's June 2 announcement to fast-track clean energy and infrastructure projects couldn't come at a better time. The plan signals a serious shift in our approach to building a green economy: Through carbon border adjustments, new industrial incentives and the creation of 10 national parks, we start to see the outline of a real climate industrial strategy. But for this plan to succeed, it must go beyond regulatory reform and economic opportunity. It must be rooted in environmental justice, Indigenous partnership and international collaboration. In this effort, Carney may find a powerful ally: King Charles III. Some Indigenous communities and provincial leaders have rightly raised concerns about the fast-tracking process. First Nations, Inuit and Métis communities are not just stakeholders — they are rights holders. Their legal authority and ecological knowledge are essential to shaping just and effective climate solutions. With the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP) enshrined in Canadian law, meaningful partnership is not optional — it's foundational. This means co-governance, Indigenous-led conservation and direct investment in community-driven clean energy projects, not after-the-fact consultation. As Canada builds its climate strategy, King Charles III could be a valuable global ally. Long before it was popular, he championed environmental causes. Today, through the Sustainable Markets Initiative (SMI) and the Terra Carta charter, he's directing billions toward biodiversity, regenerative agriculture and clean technologies. His message is clear: Finance must align with nature and long-term well-being. At the helm of the SMI is CEO Jennifer Jordan-Saifi, who has mobilized over 250 CEOs globally to drive systemic sustainability reform. Her operational strength and convening power are helping turn a bold vision into action. Carney, King Charles, and Jordan-Saifi have worked together before — notably at the Climate Finance Mobilisation Forum at Windsor Castle. Their shared values and credibility open the door to deeper collaboration. Canada could lead by proposing a Canada–U.K. Sustainable Finance Task Force, embedding Terra Carta principles into national partnerships, or co-developing funding for Indigenous climate innovation. The urgency is heightened by our evolving relationship with the U.S. President Donald Trump has reintroduced sweeping tariffs on Canadian imports, disrupting supply chains and driving up costs for materials essential to our clean energy future. Meanwhile, the Biden administration's Inflation Reduction Act is reshaping the clean tech landscape, favouring American interests and intensifying competitive pressure on Canada. Carney's push to reduce our dependence on the U.S. through strategic investments in domestic infrastructure and supply chains is crucial. Same with strengthening our alliances — with Europe, the U.K. and Indigenous nations — to move beyond being a supplier of raw materials and toward becoming a leader in clean technologies, sustainable jobs and climate innovation. Carney's plan lays the foundation for a cleaner, fairer and more resilient future. But how we proceed — particularly in upholding Indigenous rights, strengthening international partnerships and overhauling bureaucracy — will determine whether we lead or lag. We already have what we need: the global platform and moral clarity of King Charles, the lived knowledge of Indigenous communities and the economic insight of Carney. Together, they offer the leadership to drive a truly transformative climate agenda. The question is no longer what must be done — it's whether we have the courage to do it. Sarah Farahdel is a public scholar and sustainability expert with nearly a decade of industry experience. She earned her PhD in information systems engineering at Concordia University.
