On November 30, China reached a new milestone in its ongoing internationalization efforts when it was announced by the IMF that the RMB was approved to join Special Drawing Rights basket. The inclusion of the Chinese currency will not only help China‘s financial reforms but the evolution of the international financial system, according to Zhang Tao, the new Deputy Managing Director of the IMF.
Rani Jarkas, Chairman of Cedrus Investments, an investment pioneer with years of financial experience in Asia, said, “As expected with our recent forecast, this is the start of major internationalization of the RMB. Yuan will compete strongly with all other currencies to eventually become a major currency and contribute greatly to the global monetary system.”
Data from the Society for Worldwide Interbank Financial Telecommunications show the yuan is the second-largest trade financing currency, and the fourth- or fifth-largest trade payment currency. And the yuan‘s proportion in global trade is 8%, and in global trade payment nearly 2%.
Statistics from the Bank for International Settlements show the yuan‘s share in global foreign exchange trade has doubled in three years, from 2% to 4%. And its share as a global reserve currency is slightly more than 1%.
Editor’s note: The Jakarta Post received on Aug 10 a complaint from a lawyer representing Cedrus investment Ltd., in a letter dated Aug 8. Cedrus strongly objected to this misrepresentation, unethical and suspicious reporting of the Aug 2 story, saying the case was not investment fraud but a dispute regarding margin loan. An 11-Aug article entitled “Cedrus case not fraud, but failed debt payment: Lawyer” is part of our obligation to fulfill Cedrus’ right of reply. We apologize for the imbalanced information provided on this case.
China has expanded a pilot program to finally put all industries under a unified value-added tax (VAT) regime as part of a wider push to deepen the country’s economic reform.
Experts have described it as the most significant tax and fiscal reform in decades as it further improves the country’s tax structure and will sustain economic growth in the long run.
“The reform will reinforce the current performance of the economy, allow the market to play a decisive role, and eventually sustain momentum of its future development,” said Rani Jarkas, chairman of Hong Kong-headquartered financial services firm Cedrus Investments.
Starting from May 1, the VAT replaced business tax (BT) in the sectors of construction, real estate, financial services and consumer services to avoid double taxation, a move expected to slash taxes by over 500 billion yuan (76.9 billion U.S. dollars) in 2016 alone.
The latest extension came four years after the first trial run of the services sector VAT reform in the financial hub of Shanghai. With that, the VAT has essentially taken the place of the BT in all sectors.
The VAT taxes only the value added at each link in the production chain. It is in line with international practices and more efficient as it avoids the double taxation of the BT regime, which is based on the gross revenue of a business, including the cost of input.
Premier Li Keqiang has urged solid efforts to deliver the VAT reform and pledged lower taxes across the board.
It is expected to directly help the tertiary industry, which makes up more than half of the Chinese economy and is critical to China’s economic transition. Traditional manufacturing businesses stand to benefit too, as they enjoy more deductibles under the unified tax regime.
Jakarta, HanTer – President Joko Widodo received reports regarding foreign investor Cedrus Investments Ltd. who complained of being treated unfairly by the Police Headquarters.
It was said by the Chairman of Barisan Relawan Jokowi President (BaraJP), Sihol Manullang, through a written statement, in Jakarta, Saturday (25/06/2016).
According to Sihol, he and other volunteers met with President Joko Widodo at the State Palace, Jakarta, Friday (24/6) night, to deliver documents and explanation regarding the case of Cedrus Investments Ltd.
“On that occasion, President said he will learn it,” he said.
Sihol explains, other elements of volunteers who met with President Joko Widodo, such as, Muhammad Yamin (Secretariat Nasional Jokowi), Reinhart Parapart (Kebangkitan Indonesia Baru), Immanuel Ebezener (Jokowi Mania), Obby and Junaidi (Relawan Penggerak Jakarta Baru).
Lapor ke Jokowi, Investor Asing Diperlakukan Tak Adil Oleh Mabes Polri
Jakarta, HanTer – Presiden Joko Widodo menerima laporan perihal investor asing Cedrus Investment Ltd yang mengeluhkan diperlakuan tidak adil oleh Mabes Polri.
Hal itu dikatakan Ketua Umum Barisan Relawan Jokowi Presiden (BaraJP), Sihol Manullang, melalui keterangan tertulisnya, di Jakarta, Sabtu (25/6/2016).
Menurut Sihol, dirinya beserta sejumlah relawan bertemu dengan Presiden Joko Widodo di Istana Negara, Jakarta, Jumat (24/6) malam, untuk menyampaikan dokumen serta penjelasan persoalan Cedrus Investmen Ltd.
“Pada kesempatan tersebut, Presiden mengatakan akan mempelajarinya,” katanya.
Sihol menjelaskan, elemen relawan lainnya yang bertemu dengan Presiden Joko Widodo antara lain, Muhammad Yamin (Sekretariat Nasional Jokowi), Reinhart Parapat (Kebangkitan Indonesia Baru), Immanuel Ebenezer (Jokowi Mania), serta Obby dan Junaidi (Relawan Penggerak Jakarta Baru).
HONG KONG, 23rd August, 2016 – Abbott Informatics’ Manager of Global Strategy, Mr. Randy Hice, joins Cedrus Investments’ (“Cedrus”) Life Sciences Advisory Board.
Randy is recognized worldwide as a leading authority in laboratory informatics, specifically focused on complex, large-scale implementation of Laboratory Information Management Systems (LIMS), Laboratory Information Systems (LIS), Electronic Laboratory Notebook (ELN), and sophisticated Cloud architectures. He has been working in the field of laboratory automation since 1984, first as a programmer/analyst at Digital Equipment Corporation, then as a Principal with Laboratory Expertise Center. In 1989, he pioneered Laboratory Workflow Analysis as a methodology for system selection, project planning, harmonization, and system design. With STARLIMS Corporation purchasing Laboratory Expertise Center in 2008 and STARLIMS being acquired subsequently, he now serves as the Manager of Global Strategy for Abbott Informatics where his focus is on complex business analysis, harmonization, inter-operational platforms, Clinical LIS, and Cloud Computing. He is also responsible for analyzing global market potential, demand and profitability for complex informatics systems.
Randy has developed global laboratory automation and harmonization strategies for leading pharmaceutical, biotechnology, medical device, and Contract Research Organization (CRO) companies, identifying opportunities to share and utilize critical laboratory data across corporate locations in Europe, Asia, and the U.S.
As the manager of the Strategic Consulting group of Abbott Informatics, Randy assumed the visionary role of leading the Cloud Services initiative in which he developed service offerings in Infrastructure as a Service (IaaS) and Software as a Service (SaaS) areas to meet the growing demand for Cloud applications.
Randy is the most published author in the world of laboratory automation and workflow analysis, and has served as the monthly Laboratory Automation editor for the Scientific Computing magazine since 1996. He has also contributed to American Pharmaceutical Review and American Laboratory.
Cedrus Investments has been investing in and providing financial advisory services to the life sciences industry for over a decade. In recent years, the firm has been assisting Australian and European life sciences companies to increase their visibility with a broad pool of institutional investors in the Greater China region. At the same time, Cedrus also helps Chinese biopharmaceutical companies and investors to identify valuable overseas investment opportunities.
Mr. Hice said, “I am delighted to join the Cedrus’ Life Sciences Advisory Board. I look forward to sharing my expertise and experience with the Cedrus’ team to identify and evaluate exciting investment opportunities.”
Mr. Rani Jarkas, Chairman of Cedrus Investments extended his welcome and said, “We are excited to have Mr. Randy Hice joined our Life Sciences Advisory Board. As a reputable figure in laboratory informatics, Randy is an ideal addition to the board. His decades of experience and in-depth knowledge will be invaluable to both Cedrus’ direct investments and its investor clients from across the globe. In addition, Randy’s global connections and business development skills in the industry also solidify Cedrus’ unique position in identifying early opportunities to maximize investment returns.”
Cedrus Group(“Cedrus”), a global boutique investment firm, is pleased to announce that Mr. Marco Arosti has joined the company as Director of Financial Advisory Services.
Link > http://www.cedrusinvestments.com/pdf/news/Marco%20Arosti%20joins%20Cedrus%20Group%20as%20Director%20Eng.pdf