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News (673)

MELAKA, July 21 (Bernama) -- The Federal Agricultural Marketing Authority (FAMA) is constantly working to expand the international market to ensure durians from the country can be sold without a glut happening or a fall in the price over the long term. Director General Datuk Ahmad Ishak said this in the light of durian production this year being expected to triple compared to 2017 at around 60 metric tonnes due to the simultaneous output from producer states such as Johor, Melaka, Perak and Pahang.

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KUALA LUMPUR: The ringgit, which has been on the downtrend against the greenback lately as a result of solid US economic growth, is expected to stabilise and become stronger by year-end. Affin Hwang Capital chief economist Alan Tan said the ringgit was expected to appreciate to RM3.80 against the US dollar given the country’s strong economic fundamentals and trading activities. “We think the economic fundamentals will support the ringgit towards the end of 2018.

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KUALA LUMPUR: The future of Malaysia’s food and beverages (F&B) industry remained resilient to external adversities and recession-proof as manufacturers increasingly adopt digital technologies. The Malaysian Investment Development Authority (MIDA) chief executive officer Datuk Azman Mahmud said as of March 2018, the agency had approved 2,154 F&B manufacturing projects with investments of RM51.2 billion.

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KUALA LUMPUR: Cradle Fund Sdn Bhd (Cradle)’s Cradle Investment Programme (CIP) has contributed RM3.4 billion to Malaysia’s GDP, created 80,600 full-time jobs and attracted RM1.3 billion in private and foreign funds over eight years from 2008. These figures were provided by Cradle acting group chief executive officer (CEO), Razif Abdul Aziz, at Cradle Buzz 2018 in the Sime Darby Convention Centre today. “These are positive outcomes by any measure, and testimony to the fact that the right funding at the right time can in fact result in far greater outcomes than that of ordinary public spending. Stay tuned for the full report on the study in coming weeks,” he said.

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Friday, 20 July 2018 11:23

SST 2.0: A simpler tax for businesses

KUALA LUMPUR: The new sales tax and service tax, dubbed SST 2.0, will be much simpler for businesses as compared with the goods and services tax (GST) and the old SST framework that preceded the GST, says the Royal Malaysian Customs Department....


KUALA LUMPUR: The minimum wage order for workers is expected to be gazetted within two months, the Dewan Rakyat was told today. Human Resources Minister M. Kulagesaran said the National Wage Consultative Council (MPGN) had concluded its study on the matter and would submit its findings to the government soon. “If there is no hindrance, the new minimum wage order will be gazetted in one or two months,” he said in reply to a question by Datuk Azizah Mohd Dun (BN-UMNO Beaufort).

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FARNBOROUGH (Thurs): A smooth transition in the change of government and a stable economic and political landscape have ensured continued confidence in Malaysia as a country to invest in as it looks to accelerate its push as a hub for aerospace industry in the South East Asian region. Malaysia External Trade Development Corporation (MATRADE) chief executive officer Ir Dr Mohd Shahreen Zainooreen Madros, who is attending the Farnborough International Airshow 2018, after meeting foreign aerospace companies, said they are hopeful that Malaysia continues to be a healthy place to invest.

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KUALA LUMPUR, July 19 (Bernama) -- The Sales and Services Tax (SST) will cover only 38 per cent of the Consumer Price Index (CPI) basket of goods compared with the 60 per cent from the Goods and Services Tax (GST). Finance Minister Lim Guan Eng said the implementation of the improved SST would 'return' to the people RM23 billion in taxes collected which would ease their financial burden, especially those affected by high living costs.

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KUALA LUMPUR: Malaysia's inflation rate fell below 1% in June, which was the first time in 40 months following the abolishment of the Goods and Services Tax (GST) , discounted prices by retailers and price control due to the festivities....

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KUALA LUMPUR, July 18 (Bernama) -- The Ministry of International Trade and Industry (MITI) has established a task force in July 2018 with the aim to monitor and assess the developments of the United States-China trade conflict.

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