NBS 0.00% 9.9¢ nationwide building society.

countdown - myim- morley do researh and report, page-7

  1. 39 Posts.
    It was a bit difficult to dig the details from the first post of 20500. I found an article posted today on:

    http://www.theborneopost.com/?p=104638

    "The National Foreigners Enforcement and Registration System (NERS) will be implemented beginning June 1 to monitor and manage the entry of foreign nationals into the country"

    Also from the same article:
    "He said today?s meeting also studied the proposed Levy Mechanism which was tabled by the Human Resource Ministry and the committee had agreed in principle on the proposal that the levy to be charged would be based on the number of workers engaged and the duration of their services. ? Bernama"

    I found in NBS AGM the mentioning of:
    "On-site National Foreigner Registration and
    Enforcement System testing commenced"

    So couple of Q:
    The big Q is whether NERS in the article is the same (with typo" NERS mentioned in NBS AGM..?!

    If the due date for full operation is 1/6/11 and assuming there was a soft launch (paid with NBS money..?!) what is the likelihood it is an NBS project and what is the likelihood a company (even with NBS bad track record) would throw so much w/o some agreement in principal?!

    The last part of the article suggest this will be financed from a (TBD)levy. If the above is going NBS way what does this mean on the income from such project. will it be similar to Maldive BOT deal?!
 
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