Sarawak
STA calls on govt to enhance CSR scope for timber players
The Sarawak Timber Association (STA) calls on the government to look at enhancing the scope of corporate social responsibility under the Goods and Services Tax for timber players especially in Sarawak as the sector has largely contributed to the local communities in remote areas. STA and its consultants are currently in the process of drafting an appeal letter to the Ministry of Finance requesting for an expansion of the scope of expenses for providing free supply of other social and community activities to be included in the GST.
Extensive list under GST a headache for most SMEs
The extensive list of zero-rated and exempt items under the upcoming Goods and Services Tax (GST) will potentially bring about various challenges especially for small and medium enterprises (SMEs) in terms of operations, accounting and auditing.
Ernst & Young executive director Koh Siok Keat highlighted the complexity of operational changes for SMEs such as sundry shops and convenience stores.
iPhone 6, iPhone 6 Plus now available in Sarawak
Apple has officially rolled out the iPhone 6 and iPhone 6 Plus in Kuching via Malaysia’s three major mobile carriers including DiGi which launched the two models here in Kuching as part of a nation-wide move on Thursday.
MPOCC to regulate MSPO certification scheme next year
The Malaysian Palm Oil Certification Council (MPOCC) will be the agency to regulate the Malaysian Sustainable Palm Oil (MSPO) certification scheme by Jan 1, 2015.
Plantation Industries and Commodities Minister, Datuk Amar Douglas Uggah Embas on Thursday said after a long deliberation, the MPOCC was the appropriate agency to undertake the MSPO certification scheme.
Palm oil millers in Sarawak adversely affected by mandate on biogas capture
The Malaysian Palm Oil Board (MPOB) has mandated the implementation of biogas capture for all new palm oil mills applications from Jan 1, 2014 and for existing mills applying for throughput expansion in the country. In the case of Sarawak, these mandates can adversely affect the palm oil industry’s growth and development, says the Sarawak Oil Palm Plantation Owners Association on Thursday.
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National
MIA, ACCA sign agreement to benefit thousands of finance professionals
The Malaysian Institute of Accountants (MIA) and the Association of Chartered Certified Accountants (ACCA) on Wednesday signed a Memorandum of Understanding (MoU) which will result in them working together to develop the profession in Malaysia and the wider region. Through this latest agreement, ACCA will be providing an incentivised pathway for MIA members of good standing who do not currently hold a professional accountancy qualification to obtain ACCA membership.
Asean SMEs to have online access to information and training resources soon
The Asean Online SME Academy will materialise in the not too distant future. The Academy will be a one-stop, open-access gateway that provides business information and training resources to support Asean SMEs’ start-up, development and internationalisation, as well as improve the business development services from their providers.
MAS secures clear mandate after majority shareholders accept 27 sen share offer
A majority of Malaysian Airline System Bhd (MAS) shareholders voted in favour of the resolution for the proposed selective capital reduction and repayment exercise at the extraordinary general meeting (EGM) on Thursday. Speaking to reporters after the meeting, chairman Tan Sri Md Nor Yusof said, “It’s a big relief. We, now have a clear mandate, particularly Khazanah Nasional Bhd.”
BNM keeps OPR at 3.25 per cent
Bank Negara Malaysia (BNM) has decided to maintain the overnight policy rate (OPR) at 3.25 per cent following its monetary policy Committee (MPC) meeting on Thursday. The central bank in a press statement said the current stance of monetary policy remains accommodative and is assessed to be appropriate given the developments in monetary and financial conditions.
Potential hike in OPR next year
With Bank Negara Malaysia (BNM) maintaining the Overnight Policy Rate at 3.25 per cent, economists believe a 25 basis point (bps) hike is possible in 2015 in order to counter the risk of destabilising financial imbalances.