Local News
Malaysia’s Sales and Service Tax Increase: What Industries are Impacted?
The Malaysian government officially increased the sales and services tax (SST) rate from six percent to eight percent, effective from March 1, 2024, across several sectors such as finance and leisure. Finance Minister Datuk Seri Hamzah Azizan stated that this was part...
Port Of Tanjung Pelepas Adds Five ULCV Quay Cranes from Shanghai Zhenhua Heavy Industries
Port of Tanjung Pelepas SdnBhd (PTP), a joint venture between the MMC Group and APM Terminals, announced today a recent signing of an agreement with Shanghai Zhenhua Heavy Industries Co. Ltd (ZPMC) for the purchase of five (5) Ultra Large Container Vessel (ULCV) Quay...
Global Trade Compliance: How to Play by the RulesGlobal air cargo demand increases 11.9% to 19.7bil CTKs in Feb – IATA
KUALA LUMPUR: The global air cargo industry registered a total of 19.7 billion cargo tonne-kilometres (CTKs) in February 2024, representing an increase of 11.9 per cent year-on-year (y-o-y), according to the International Air Transport Association (IATA). The...
Kenanga raises Bintulu Port profit forecast for FY2025 on ‘stronger prospects’ for tariff hike
KUALA LUMPUR, April 5 ― Kenanga Investment Bank Bhd (Kenanga IB) has raised its financial year 2025 (FY2025) net profit forecast for Bintulu Port Holdings Bhd by 14 per cent on “stronger prospects” of a hike in tariffs for the port. It also lifted the port operator’s...
Transport minister: Govt drawing up strategy to enhance competitiveness of country’s ports
KUALA LUMPUR, March 27 — The government has drawn up short and long-term strategies to strengthen the competitiveness of the country’s main ports, namely Port Klang and Port of Tanjung Pelepas. Transport Minister Anthony Loke said the strategy covers aspects of...
Service tax exemption for logistics sector, maintenance services
KUALA LUMPUR: The Finance Ministry has refined the scope of Service Tax to benefit the logistics sector and maintenance services, offering service tax exemptions for both. The ministry said the objective was to alleviate the direct impact on the rakyat’s living cost...
Logistics, a magic bullet for sustainable trade?
B ATTLES are won with tactics. Wars are won with logistics, Tesla chief executive officer Elon Musk said. Indeed, improving performance of logistics helps organisations and economies further engage in local and international trade. This makes logistics a powerful...
MMAG banking on aviation arm to boost competitive edge in logistics industry.
KUALA LUMPUR: MMAG Holdings Bhd (MMAG) is banking on its aviation arm, MMAG Aviation Consortium Sdn Bhd (MAC), to unlock its next growth phase and play a key role in unleashing Malaysia’s potential as a regional air cargo hub. MMAG said this followed the...
Transport minister: Malaysia open to extending China-led rail project to Thai border
KUALA LUMPUR, March 28 ― Malaysia's government has said it would consider extending a US$10 billion (RM47.3 billion) China-led rail project to its border with Thailand to boost economic ties between the Southeast Asian neighbours. Part of China's Belt and Road...
Senator: Govt should balance assistance between B40, M40 groups
KUALA LUMPUR (March 20): The government has been urged to balance assistance between the B40 and M40 groups in helping them face the current economic challenges. Senator Datuk Lim Pay Hen said the action was necessary as the M40 group was the most affected by the...