malaysia - Banking & Finance

Ministers' Pay Cut to remain in Force - Guan Eng

KUALA LUMPUR, Nov 14 (Bernama) - The 10 per cent salary cut for all Cabinet ministers will remain in force, Finance Minister Lim Guan Eng said today.
Date: 14 November 2018; Type: Industry Updates; Source: Bernama

Time for BNM to reimpose Financing Quota - HBA

KUALA LUMPUR, Nov 13 (Bernama) - It is time for Bank Negara Malaysia (BNM) to reimpose financing quota that the banks need to adhere to in order to assist first-time home buyers, said the National House Buyers Association (HBA).
Date: 13 November 2018; Type: Industry Updates; Source: Bernama

EPF extends Mohamad Nasir's term to December 31, 2019

KUALA LUMPUR, Nov 12 (Bernama) - The Employees Provident Fund (EPF), with the approval from the Ministry of Finance, has agreed to extend Datuk Mohamad Nasir Ab Latif’s term as Deputy Chief Executive Officer (Investment) until Dec 31, 2019.
Date: 12 November 2018; Type: Legal News; Source: Bernama

SC committed to strengthening Investors' Trust, Confidence

KUALA LUMPUR, Nov 7 (Bernama) - The Securities Commission (SC) will remain vigilant of any potential breaches of securities law, said Chairman Datuk Syed Zaid Albar.
Date: 07 November 2018; Type: Industry Updates; Source: Bernama

SC to review Structure, Guidelines for Property Crowdfunding Framework

KUALA LUMPUR, Nov 5 (Bernama) - The Securities Commission Malaysia (SC) will be reviewing the details of the proposed structure and Guidelines on Recognised Markets to facilitate the establishment of property crowdfunding platforms as outlined in the 2019 Budget.
Date: 05 November 2018; Type: Legal News; Source: Bernama

IRDA says 2019 Budget in line with its Plans, Focus

JOHOR BAHRU, Nov 3 (Bernama) - The Iskandar Regional Development Authority (IRDA) sees the 2019 Budget as being in line with its own planning and focus to become a sustainable, international-standard metropolis.
Date: 03 November 2018; Type: Industry Updates; Source: Bernama

2019 Budget: Foreign Digital Services Tax ensures Level Playing Field - RinggitPlus

KUALA LUMPUR, Nov 3 (Bernama) - The service tax on foreign digital services announced in the 2019 Budget will ensure a level playing field and foster healthier competition with local digital services players, says financial comparison website RinggitPlus.
Date: 03 November 2018; Type: Industry Updates; Source: Bernama

2019 Budget Carefully Crafted to balance Fiscal Discipline, Growth - Banks

KUALA LUMPUR, Nov 3 (Bernama) - The 2019 Budget is seen to be carefully crafted to balance fiscal discipline and growth, say Malaysian banks.
Date: 03 November 2018; Type: Industry Updates; Source: Bernama

2019 Budget: SME Bank sees Huge Opportunity to provide Further Support to SMEs

KUALA LUMPUR, Nov 3 (Bernama) - Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) sees a huge opportunity from the 2019 Budget announcement to provide further support to Malaysian SMEs through its products and services, particularly for women entrepreneurs and export-oriented business ventures.
Date: 03 November 2018; Type: Legal News; Source: Bernama

EPF describes 2019 Budget as inclusive for Social Well-being

KUALA LUMPUR, Nov 2 (Bernama) - The Employees Provident Fund (EPF) has noted that the 2019 Budget balances long-term imperatives with short-term needs.
Date: 02 November 2018; Type: Industry Updates; Source: Bernama

Budget 2019 set to spur Growth of Micro, SME Entrepreneurs

MELAKA, Nov 2 (Bernama) - The 2019 Budget focuses on the development of micro and Small and Medium Enterprise (SME) entrepreneurs by providing them impetus for further growth, said Entrepreneur Development Minister Datuk Seri Mohd Redzuan Md Yusof.
Date: 02 November 2018; Type: Industry Updates; Source: Bernama

Extension of Tax Incentives to reinforce Malaysia's Position in Islamic Finance - SC

KUALA LUMPUR, Nov 2 (Bernama) - The extension of tax incentives for Sukuk Ijarah and Wakalah in the 2019 Budget, will reinforce Malaysia’s position as a global leader in Islamic finance, said the Securities Commission (SC).
Date: 02 November 2018; Type: Industry Updates; Source: Bernama

IR4.0 gets Impetus in 2019 Budget - MITI

KUALA LUMPUR, Nov 2 (Bernama) - The fourth Industrial Revolution 4.0 (IR4.0) has received an impetus with an allocation of RM210 million being proposed from 2019 to 2021 to support its transition, International Trade and Industry Minister Datuk Darrell Leiking said.
Date: 02 November 2018; Type: Industry Updates; Source: Bernama

Government to introduce National B40 Health Protection Fund Next Year

KUALA LUMPUR, Nov 2 (Bernama) - The government, in partnership with the private insurance industry, will introduce a national B40 Health Protection Fund for the low income groups in January next year, says Finance Minister Lim Guan Eng.
Date: 02 November 2018; Type: Legal News; Source: Bernama

BNM announces RM1 Bln Fund, other Measures for House Buyers

KUALA LUMPUR, Nov 2 (Bernama) - Bank Negara Malaysia (BNM) has announced the establishment of a RM1 billion Fund for Affordable Homes to help those from the lower income group nationwide finance the purchase of their first houses.
Date: 02 November 2018; Type: Industry Updates; Source: Bernama

Malaysia set to have the World's First Airport REIT

KUALA LUMPUR, Nov 2 (Bernama) - The government has proposed to set up the world's first airport Real Estate Investment Trust (REIT).
Date: 02 November 2018; Type: Industry Updates; Source: Bernama

Budget 2019: Services imported into the Country to be taxed

KUALA LUMPUR, Nov 2 (Bernama) - The government plans to impose service tax on imported services, including online services, from Jan 1 next year, said Finance Minister Lim Guan Eng.
Date: 02 November 2018; Type: Legal News; Source: Bernama

2019 Budget: taxing it right, for a Solid Future

KUALA LUMPUR, Nov 2 (Bernama) - The Pakatan Harapan-led government’s maiden Budget comes with some tough measures in terms of taxes as expected, plans for further fiscal consolidation as well as the right incentives for businesses to prosper and bring Malaysia’s economy back on a stronger footing.
Date: 02 November 2018; Type: Industry Updates; Source: Bernama

Budget: Credit System for Sales Tax Deductions to be introduced

KUALA LUMPUR, Nov 2 (Bernama) - The government will introduce a credit system for sales tax deductions from Jan 1 next year, said Finance Minister Lim Guan Eng.
Date: 02 November 2018; Type: Legal News; Source: Bernama

2019 Budget Highlights

KUALA LUMPUR, Nov 2 (Bernama) - The following are the highlights of the Economic Outlook 2019 report, the first presented under the Pakatan Harapan government. The 142- page report was released by the Ministry of Finance in conjunction with the tabling of the 2019 Budget today by Finance Minister Lim Guan Eng in Parliament.
Date: 02 November 2018; Type: Legal News; Source: Bernama

INDUSTRY UPDATES

Ministers' Pay Cut to remain in Force - Guan Eng

KUALA LUMPUR, Nov 14 (Bernama) - The 10 per cent salary cut for all Cabinet ministers will remain in force, Finance Minister Lim Guan Eng said today.

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INDUSTRY UPDATES

UM bags 13th LAWASIA International Moot Competition

KUALA LUMPUR, Nov 13 (Bernama) - A group of University of Malaya (UM) Bachelor of Law (LLB) students emerged as International Champion at the 13th LAWASIA International Moot Competition held early this month.

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INDUSTRY UPDATES

Time for BNM to reimpose Financing Quota - HBA

KUALA LUMPUR, Nov 13 (Bernama) - It is time for Bank Negara Malaysia (BNM) to reimpose financing quota that the banks need to adhere to in order to assist first-time home buyers, said the National House Buyers Association (HBA).

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INDUSTRY UPDATES

Death of RMN Personnel: Court orders another Probe by Inquiry Board

KUALA LUMPUR, Nov 13 (Bernama) - The High Court here today ordered the Malaysian Armed Forces Council to set up a board of inquiry to determine whether Royal Malaysian Navy (RMN) seaman Muhammad Lailaltuiman Mohd Sukri, who died at a detention room in Sungai Wangi, Sitiawan, was mentally and physically abused while he was attached with KD LEKIR.

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INDUSTRY UPDATES

Need to address, curb questioning of Constitution - Sultan Sharafuddin

SHAH ALAM, Nov 13 (Bernama) - The act of a certain group in questioning the sanctity of Islam, the special rights of the Malays and Bumiputeras, the national language, and the function and position of the Malay Rulers enshrined in the Federal Constitution need to be immediately addressed and curbed.

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INDUSTRY UPDATES

Anwar's Challenge over Implementation of NSC Act remitted to High Court

PUTRAJAYA, Nov 13 (Bernama) - The Federal Court today remitted PKR president-elect Datuk Seri Anwar Ibrahim's legal challenge over the implementation of the National Security Council Act (NSC) 2016 back to the High Court for hearing.

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INDUSTRY UPDATES

MATTA appeals for Temporary Waiver of Visa Fees for Chinese and Indian Tourists

KUALA LUMPUR, Nov 13 (Bernama) - The Malaysian Association of Tour and Travel Agents (MATTA) is appealing for a temporary waiver of visa fees for tourists from China and India, in order to boost visitor arrivals to Malaysia.

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INDUSTRY UPDATES

SME Non-performing Loans in Malaysia among World's Highest

JOHOR BAHRU, Nov 13 (Bernama) - Malaysia’s Non-Performing Loans (NPLs) among Small and Medium Enterprise (SME) entrepreneurs are among the world’s highest, said Entrepreneur Development Minister Datuk Seri Mohd Redzuan Yusof.

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INDUSTRY UPDATES

IRB puts 79,786 Tax Evaders on Notice

KUALA LUMPUR, Nov 13 (Bernama) - The Inland Revenue Board (IRB) has identified 79,786 individuals, companies, organisations, cooperatives and more with property and extraordinary wealth who have yet to pay tax.

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INDUSTRY UPDATES

Government urged to review Scheduled Salary Deductions for PTPTN Loanees

KUALA LUMPUR, Nov 12 (Bernama) - A Pakatan Harapan MP today urged the government to review the scheduled salary deductions for National Higher Education Fund Corporation (PTPTN) loanees who earned more than RM1,000 a month.

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INDUSTRY UPDATES

EPF extends Mohamad Nasir's term to December 31, 2019

KUALA LUMPUR, Nov 12 (Bernama) - The Employees Provident Fund (EPF), with the approval from the Ministry of Finance, has agreed to extend Datuk Mohamad Nasir Ab Latif’s term as Deputy Chief Executive Officer (Investment) until Dec 31, 2019.

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INDUSTRY UPDATES

New Name for FT Ministry expected Early Next Year - Khalid

LABUAN, Nov 11 (Bernama) - The new name for the Federal Territories Ministry is expected to be made known early next year, said its Minister Khalid Abdul Samad.

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INDUSTRY UPDATES

Court issues Warrant of Arrest against Shahidan Kassim

KANGAR, Nov 9 (Bernama) - The Kangar Sessions Court today issued a warrant of arrest against former Minister-in-the-Prime Minister’s Department Datuk Seri Shahidan Kassim for failing to be present in court to face charges, believed related to the case where an under-aged girl was allegedly molested by him recently.

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INDUSTRY UPDATES

Budget 2019 reflects Malaysia's Commitment to ensure a Conducive Business Environment

KUALA LUMPUR, Nov 5 - “The new and extended incentives announced under Budget 2019 reflect Malaysia’s commitment in ensuring a conducive business environment for domestic and foreign investors against the backdrop of global challenges. As the principal investment promotion agency for the country, MIDA looks forward to the holistic study to review the 130 existing investment incentives under the purview of 32 Investment Promotion Agencies. This is in line with our continuous advocacy for incentives that are targeted, time-based and relevant to advances in technology and innovation. The review is timely to ensure the optimal use of the country’s resources,” said Dato’ Azman Mahmud, Chief Executive Officer of MIDA.

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INDUSTRY UPDATES

Property Crowdfunding Framework to support Home Ownership Measures outlined in Budget 2019

The Securities Commission said it would be reviewing the details of the proposed structure and our Guidelines on Recognised Markets (RMO Guidelines) to facilitate the establishment of property crowdfunding platforms as announced in Budget 2019.

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