KUALA LUMPUR: All states that produce oil will receive 20% of profit from the resource, Prime Minister Tun Dr Mahathir Mohamad speaks in parliament. * Note: Campaign manifesto includes pledge to give 20% royalty to oil-producing Sabah and Sarawak states * Government’s priority is on cleaning out damage from corruption and efforts to recover missing […]
Read MoreKUALA LUMPUR: AmBank Research expects Bank Negara Malaysia’s monetary policy committee (MPC) to retain the overnight policy rate (OPR) at 3.25% for the rest of this year due to the lower inflationary trends. It said on Thursday its forecast was based on the current inflationary trajectory and Bank Negara’s outlook during the recent MPC meeting […]
Read MoreThe 10% service charge imposed by hotels and restaurants will stay when the Sales and Service Tax (SST) returns to replace the Goods and Services Tax (GST) on Sept 1. The Malaysian Association of Hotels president Cheah Swee Hee said the service charge is not to be confused with SST, which has a 10% tax […]
Read MoreSINGAPORE: Malaysia is inching closer to regaining its lead over Singapore’s economy after trailing for a third straight year. The nation’s gross domestic product was $314.5 billion in 2017, about $9.4 billion less than Singapore’s $323.9 billion, according to data from the World Bank. That deficit is set to shrink to just over $2 billion […]
Read MoreKUALA 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. The Statistics Department said on Wednesday the Consumer Price Index (CPI) was 0.8% in June […]
Read MorePETALING JAYA: Retail sales are expected to drop significantly in the first two months following the reintroduction of the sales and services tax (SST) on Sept 1, as consumers adopt a more cautious approach to spending. However, sales levels are expected to “return to normal” from November in conjunction with the school holidays and festive […]
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