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 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...

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...

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...

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...

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...

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...

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...

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...

In recent years, global food security has suffered from overlapping crises caused by conflicts, geopolitical tensions, climate change, and the Covid-19 pandemic, resulting in severe food supply disruptions. These disruptions have been accentuated by several “food...

KUALA LUMPUR, March 20 — A total of 898 foreign investment projects valued at RM281.5 billion have been approved in the manufacturing and services sectors from 2022 to 2023, said Deputy Minister of Investment, Trade and Industry Liew Chin Tong. He said the approved...

MIRI (March 21): Sahabat Alam Malaysia (SAM) and Friends of the Earth (FoE) Japan had called on the Malaysian and Japanese governments to reject Carbon Capture and Storage (CCS). In a joint statement, they said this technology only delays real climate action and the...

PETALING JAYA: On March 1, Malaysia’s service tax rose from 6% to 8%, sparking concerns about price increases during the 2024/2025 school term and Ramadan.The Madani government, led by Prime Minister Anwar Ibrahim, assured that essential items like food, beverages,...

KUALA LUMPUR, MALAYSIA: The Ministry of Economy of Malaysia announced that the joint agreement for the Johor-Singapore Special Economic Zone (JS–SEZ) is anticipated to be finalized by year-end. According to a report from Malaysia’s state media Bernama, the agreement...

KUALA LUMPUR, March 16 — Transport Minister Anthony Loke has vowed that contractors do not need to cultivate a relationship with Cabinet members to be awarded contracts. The DAP secretary-general said it is enough for those awarded contracts to carry out their...

KUALA LUMPUR: The ports segment started the year on a positive note as the export volume index rose five per cent to 156.5 points in January 2024 from 148.5 points in January 2023, said AmInvestment Bank Bhd. In a note, the research house has maintained its overweight...

Business Expert says efforts to enhance Malaysia-China ties the right move Hayatun Razak 18-03- 2024 07:15 AM From left: Loh, Lim and Hairil Yahri. PETALING JAYA: Prime Minister Datuk Seri Anwar Ibrahim’s administration has set its sights rightly on furthering...

KUALA LUMPUR: The Ministry of Finance (MoF) sees a pressing need for insurance protection among small and medium-sized enterprises due to the escalating climate change and other risks, said Secretary General of Treasury Datuk Johan Mahmood Merican. He said that there...

KUALA LUMPUR, March 6 — The government is expected to collect additional revenue amounting to RM3.45 billion from the expansion of the scope of service tax and the increase in the service tax from six per cent to eight per cent, according to the Finance Ministry. The...