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News (237)

PETALING JAYA: The sales and services tax (SST) regime is likely to have an impact on the earnings of manufacturers and importers while healthcare and building material companies are among the major beneficiaries.

Under the SST system, which will begin from Sept 1, several manufacturers and importers would have to pay up to 10% tax rate in comparison with the 6% rate under the previous goods and services tax (GST) regime.

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KOTA KINABALU, Aug 25 (Bernama) -- Small and medium enterprises (SMEs) in Sabah should take advantage of the opportunities presented by the Malaysian Industrial Development Finance Bhd’s (MIDF) financing scheme to grow their businesses, says International Trade and Industry Minister Darell Leiking. He said the number of SMEs in Sabah who received financial assistance from MIDF, since its establishment in 1960, to start or expand their businesses was still low and accounted for only 764 out of 10,818 companies nationwide.

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KUALA LUMPUR, Aug 22 (Bernama) -- Small and medium enterprises (SMEs) must innovate and embrace digitalisation as a mindset, across all areas, to grab opportunities presented in the digital economy, says SME Corporation Malaysia (SME Corp).

It emphasised that the adoption of digitalisation must be across people, processes, technology and data as this would enable companies to innovate faster and achieve the desired business outcomes.

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KUALA LUMPUR, Aug 21 (Bernama) -- The Finance Ministry's wholly-owned company, Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP), has partnered various financial institutions to make available financing of about RM30 billion through various schemes, since inception in 2009.

Finance Minister, Lim Guan Eng said of the RM30 billion, RM12.9 billion had already been disbursed and RM9.4 billion of this amount was guaranteed through SJPP.

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MALAYSIA External Trade Development Corp (Matrade) is encouraging the adoption of e-commerce among SMEs to widen their market across borders. Matrade deputy CEO II of exporters development Sharimahton Mat Saleh says companies should tap onto Matrade’s extensive range of trade and export facilitation initiatives to go abroad.

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KUALA LUMPUR, Aug 20 (Bernama) -- The government is studying the underlying cause of rising prices of basic necessities in the country. Citing sugar prices as an example, Finance Minister Lim Guan Eng said the product was retailing at RM1.40 per kilogramme (kg) in the international market, but sold at RM2.90 per kg in Malaysia

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Monday, 20 August 2018 15:04

Economy to expand at a slower pace in 4Q

KUALA LUMPUR, Aug 20 (Bernama) -- Malaysia’s economic growth momentum is expected to expand at a slower pace in the fourth quarter (4Q) of 2018 in view of the current moderate trend, says the Department of Statistics Malaysia.

In a statement titled “Malaysian Economic Indicators: Leading, Coincident & Lagging Indexes June 2018” released today, the department said the monthly change of Leading Index (LI) recorded an increase of 0.5 per cent points to 118.4 points from 117.8 points in May 2018.

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Friday, 17 August 2018 15:37

2Q GDP at 4.5%, below consensus estimates

PETALING JAYA: Economic growth for Malaysia in the second quarter of this year came in at 4.5%, which was below the consensus estimates of more than 5%. According to Bank Negara Malaysia, supply disruptions in the second quarter resulted in the slower economic growth. In comparison, GDP growth was 5.8% in the corresponding quarter of 2017 and 5.4% in 1Q2018.


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KUALA LUMPUR: The impact of the Sales and Services Tax (SST) on the country’s inflation would be much smaller compared to the Goods and Services Tax (GST), says Bank Negara.

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KUALA LUMPUR, Aug 16 (Bernama) -- The government is currently drafting the strategy and initiative for short, medium and long-term economic development for the mid-term review of the 11th Malaysia Plan (11MP) to ensure the economy continues to remain resilient.

Deputy Economic Affairs Minister Dr Mohd Radzi Md Jidin said the government is aware that the current global economic environment is challenging due to global trade wars and issues such as Turkey’s financial crisis.

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