kuala lumpur


Malaysia targets Europe’s growing halal market at Sarajevo Halal Fair

KUALA LUMPUR, Sept 24 — Malaysia is sending the largest delegation to the Sarajevo Halal Fair (SHF 2018), which will take off this Thursday, September 27, in its efforts to not only penetrate the halal market of the former war torn Bosnia and…

Malaysia’s economic growth to ease in Nov 2018-Jan 2019

KUALA LUMPUR, Sept 24 — Malaysia’s economy is expected to continue growing at a slow rate between November 2018 to January 2019 in view of the current moderate trend, says the Department of Statistics Malaysia. In a…

Foreign workers to pay 80% of annual levy, employers 20%

KUALA LUMPUR: The annual levy for extension of employment duration of foreign workers will be paid by both the foreign workers and employers.

Finance Minister Lim Guan Eng said today that foreign workers in the construction industry will have to fork out 80% of the RM10,000 annual levy while the balance 20% will be paid by employers.

“We expect to raise about RM1 billion in three years from this exercise,” he told reporters at the Rehda Institute CEO Series 2018 Annual Property Developers Conference.

He said the Human Resource Ministry will announce the effective date of the changes to the levy programme. 

The ministry previously announced that skilled foreign workers in the construction industry who have worked here for 10 years can have their permits extended for up to three years.

The levy to be paid for the extension is RM10,000 per year, which is paid by employers.

Meanwhile, Lim urged property developers to pass on the savings from the exemption of Sales and Services Tax on construction services to home buyers by reducing house prices.

In his keynote address, he said property developers should reduce house prices instead of offering more freebies, warning that the government may reconsider the exemption if house prices are not lowered.

DHL Express to hike rate by 6.9% in 2019

KUALA LUMPUR: International express services provider DHL Express today announced its annual price increase effective Jan 1, 2019, where the average shipment price will increase 6.9% in Malaysia compared to 2018.

DHL Express Malaysia and Brunei country manager Christopher Ong said DHL Express has been investing significantly in its international network to meet highest expectations and to offer an even better service to customers globally.

“Our aim is to deliver continuous improvement in quality to meet our customers’ needs even more. The annual price adjustment allows us to further strengthen our infrastructure, ensuring best-in-class customer solutions by using innovative technologies and individual delivery processes.

“Particularly in the last few weeks and months, we focused on investing in hub expansions and new gateways in many markets and thereby boosted our shipment processing capacities per hour and reduced our transit times. We are always working on upgrading our regional and intercontinental air fleets, we are opening new facilities with automated sorting technologies and introduce innovative e-commerce service solutions for our customer worldwide,” Ong said in a statement.

He said DHL Express will also assure the highest security and sustainability standards to comply with the requirements of its customers, partners and transport authorities.

DHL Express adjusts its prices annually, taking into account inflation, currency dynamics and other rising costs, such as expenses related to compliance with enhanced security regulations, in each of the more than 220 countries and territories that it serves. Price adjustments will vary from country to country, depending on local conditions, and will apply to all customers where contracts allow.

Ringgit opens lower despite higher oil prices

KUALA LUMPUR, Sept 24 — The ringgit opened lower against the US dollar today despite the higher oil prices, a dealer said. He said the higher prices were offset by increasing global yields, especially those in the US, which lessened the…

Bursa opens lower on cautious investor sentiment

KUALA LUMPUR, Sept 24 — Share prices on Bursa Malaysia opened lower today, in line with most regional bourses, with investors cautious over the latest development in the US-China trade dispute, dealers said. At 9.05am, the benchmark FTSE…

CCCC actively seeking investment opportunities in M’sia

BEIJING: China Communications Construction Company (CCCC) is transforming from an engineering, procurement, construction and commissioning (EPCC) contractor to an investor, developer and operation service provider, says its vice-president Sun Ziyu. “We are actively seeking investment opportunities to help develop Malaysia. For example, we are exploring transit-oriented development (TOD) along the East Coast Rail Link (ECRL). […]

Shipping firms urged to work around trade tariffs, restrictions

KUALA LUMPUR: Container shipping firms along with other players in the cabotage industry have been urged to persevere and find ways to work around trade tariffs, import restrictions and trade embargoes to sustain their business in an industry that is already in distress having to contend with numerous pre-existing challenges. In making the call, Esben […]

Emerging market equities look constructive, economists say

KUALA LUMPUR: Emerging market equities look very constructive with a sense of optimism in the markets amid positive economic indicators beaming from the advanced countries, says Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid. He said emerging markets were weak from early to the middle of September as the escalating trade dispute between the […]

SuperCharger programme opens global opportunities

KUALA LUMPUR: The second edition of the 12-week SuperCharger FinTech Accelerator Programme is back in Malaysia, with the support of more organisations which could help international companies soft-land in Southeast Asia and for Malaysian companies to expand regionally. Launched at the Securities Commission Malaysia, Bukit Kiara, ten international scale-ups from six countries were announced as […]