Monday , February 19 2018
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Malaysia

Malaysia wins WTO praise for impressive economic achievement

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KUALA LUMPUR: Forty-three World Trade Organisation (WTO) members who participated in a question and answer session at the recent two-day 7th Trade Policy Review (TPR) Of Malaysia, in Switzerland, commended the country for its impressive economic achievement, prudent trade and economic policies.  Malaysia was also commended for actively pursuing trade openness through unilateral reforms, regional and bilateral trade arrangements and ... Read More »

Months away from Malaysian election EU’s move stirs discontent in palm groves

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KUALA LUMPUR: An EU decision to curb palm oil imports was the last thing Malaysian Prime Minister Najib Razak needed ahead of a coming election, with rural voters already aggrieved over financial scandals at state owned palm oil agency Felda. Around 10 percent of Malaysia’s 30 million people belong to families who own smallholdings dedicated to harvesting palm oil, and they ... Read More »

Malaysia economic growth slows in Q4

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KUALA LUMPUR: Malaysia’s full-year economic growth is expected to remain solid at 5.8 percent y/y, according to a recent report from ANZ Research. That compares to the previous quarter’s 6.2% print and a median estimate of 5.55% on year growth in a Nikkei Markets survey of economists. Growth is expected to remain favourable in 2018, with domestic demand continuing to ... Read More »

Tax implications of mergers and acquisitions in Malaysia

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KUALA LUMPUR: Malaysia was an exception. It recorded US$17.57 billion (RM68.24 billion) from 408 M&A, the highest in five years, according to Duff & Phelps’ latest Transaction Trail report published in December. This can be attributed to the inbound investments in financial services sectors as well as in the energy, construction and consumer sectors. M&A is one of the strategies ... Read More »

Malaysia’s GDP expands 5.9% in 4Q17

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KUALA LUMPUR: Malaysia’s economy grew 5.9% in the fourth-quarter of 2017 (4Q17) boosted by the stronger private sector demand. Bank Negara Malaysia (BNM) said the gross domestic product (GDP) growth was further supported by the external sector, while on the supply side, all economic sectors continued to expand except for mining. For the full year, the domestic economy expanded 5.9%, ... Read More »

Export tax freeze to support Malaysian palm oil industry

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KUALA LUMPUR: On January 8 the government suspended export taxes on crude palm oil (CPO) for three months, a move Mah Siew Keong, the minister of plantation industries and commodities, described as a short-term, pre-emptive step to increase the product’s competitiveness in global markets. Export duties are imposed on all palm oil exports above RM2250 ($568) per tonne at a rate determined ... Read More »

Malaysia needs structural reforms says global investor

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KUALA LUMPUR: A renowned global investor has called for structural reforms in Malaysia, saying that the country faces “very real” structural issues. Penang-born Datuk Seri Cheah Cheng Hye (pic) who left Malaysia decades ago counts the middle-income trap, brain drain and high public service spending as current risks to the country. Based in Hong Kong as the chairman and co-chief ... Read More »

Malaysia’s economy to expand 5 pct in 2018

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KUALA LUMPUR: Singapore-based banking group OCBC Bank has forecast Malaysia’s gross domestic product (GDP) to grow five per cent this year, backed by strong private consumption and investment. Its head of Treasury Research and Strategy, Global Treasury, Selena Ling said private consumption was expected to remain strong due to continued government income support, reduced income tax and improving sentiments. Private ... Read More »

Malaysia’s 2018 GDP growth to remain strong

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KUALA LUMPUR:  Singapore based banking group, OCBC Bank sees the projection of Malaysia’s gross domestic product (GDP) growth to remain strong at 5 per cent this year due to a high base effect of 5.8 per cent last year. We are still relatively sanguine on 2018 GDP growth for Malaysia although the 2017 growth was spectacular,” said its chief economist ... Read More »

Malaysian aerospace eyes RM1b new investments

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KUALALUMPUR: Malaysia’s aerospace sector is optimistic of securing RM1 billion new investments and generate RM13 billion revenue this year. Exports are targeted to grow by five per cent  particularly through manufacturing activities for aerospace products, such as fan cowl, cargo door and engine fan case. Ministry of International Trade and Industry’s (MITI) Deputy Secretary-General (Industry), Datin K. Talagavathi, said generally, ... Read More »

Malaysia needs to incentivise material imports to encourage affordable housing

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KUALA LUMPUR:  Malaysia has to incentivise material imports even more, in order to enhance its affordable housing efforts, even though it is ahead of other countries, Bernamareported Australia’s Compass Housing Services as saying today. Malaysia is one of the best countries in terms of national plans, and Australia can actually learn a thing or two from it,” Compass Housing Services group ... Read More »

Government probes anti dumping imports of solar glass from Malaysia

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KUALA LUMPUR: Malaysia, reports the Financial Express. The company is urging the DGAD to initiate an investigation on the import of textured and tempered glass, whether coated or uncoated, coming from Malaysia. The existence and impact of alleged dumping will be investigated. The period between October 2016 to December 2017 is to be taken under consideration for the investigation, and ... Read More »

Malaysia issues updated mutual agreement procedure (MAP) guidelines

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KUALA LUMPUR: Malaysian Inland Revenue Board  published an updated and amended MAP Guidelines dated 19 December 2017. The updated version replaces the previous version issued by the IRB dated 5 December 2014. The double tax agreements entered into by Malaysia with other Contracting States contain provisions which allow a taxpayer to present an MAP case to its relevant competent authority (CA) ... Read More »

Malaysia’s Tomypak aims for at least 20% rise in revenue

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KUALA LUMPUR: Malaysian food packaging firm Tomypak Holdings is aiming to grow its revenue by at least 20% this year on the back of capacity expansion although a stronger ringgit weighs on profit margin, its executive director said. The company’s new production lines are expected to start operations this year and handle additional volume of 6,000 tons on top of ... Read More »

Malaysia to see slower growth in 2H18

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KUALA LUMPUR: Malaysia’s economic growth is expected to remain stable in 2018 but analysts believe that compared with its performance in the first half of the year, Malaysia’s growth momentum could slow down in the second half of 2018 (2H18). In its economic viewpoint report, the research arm of Kenanga Investment Bank Bhd (Kenanga Research) projected gross domestic product (GDP) ... Read More »

Malaysia GDP growth to fall 5% in 2018

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KUALA LUMPUR: Investments are expected to decline from 6.4% in 2017 to 3.8% in 2018, as Malaysia remains a “challenging market” for alpha investors. The critical aspect concerning Malaysia are a quite expensive fundamental valuation. In spite robust economic developments, earnings momentum slows down further and the country  as investment region  is relatively unattractive versus other ASEAN countries,” VP Bank ... Read More »

NEPC Mulls Malaysian model to support exports

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KUALA LUMPIR: As the federal government intensifies effort to diversify the economy, the Nigerian Export Promotion Council (NEPC) has advocated the possibility of adapting the Malaysian model as part of strategic collaboration to promote Nigeria’s export trade. The Acting Executive Director/CEO of NEPC, Mr. Sidi-Aliyu Abdullahi, disclosed this yesterday while receiving in his office a delegation from Performance Monitoring and Delivery ... Read More »

Malaysia pushes infrastructure projects

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KUALA LUMPUR: Malaysia is among the South-East Asian nations that have pledged to spend billions on infrastructure developments, as the country seeks to further boost its economic prominence. Last year during the tabling of Budget 2018, the government allocated billions of ringgit for infrastructure developments, paving the way for the country to provide a much needed support system for the ... Read More »

Malaysian taxpayers money distributed among conspirators

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KUALA LUMPUR: Malaysia has led up to Australian dollar 18.3 million that went into the pockets of conspirators, corrupt officials from Malaysia. The scandal centres around the vastly inflated valuation of a 280-room city apartment building, UniLodge, which mostly houses overseas students on Swanston Street, near Melbourne University. The paper said the excess money paid for the property rightly belonged to Malaysian ... Read More »

Business leaders in Malaysia most optimistic since 2014

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KUALA LUMPUR: Malaysian business leaders’ overall optimism surged to 6% in the fourth quarter of 2017, a sharp rebound from a negative 36% a year ago, according to Grant Thornton’s quarterly business survey. Country managing partner at Grant Thornton Malaysia Datuk NK Jasani said on Monday more than half of the business leaders are expecting higher profits and investing in ... Read More »