Government calls off GST for food items
The Royal Malaysian Customs Department (RMCD) said it was cancelling the goods and services tax (GST) on over 60 food items, due to be enforced on July 1, after referring to the Finance Ministry. Director-General Datuk Subromaniam Thola said “Following consultation, it was decided to annul the “Goods and Services Tax (Zero Rated Supplies) Order 2014 (Amendment) (No.2) 2017” (the Order). Local media had reported that more than 60 zero-rated food items would be subject to the six per cent GST from July 1, after the order was gazetted on June 6, 2017. Under the order, food items such as eel, swordfish, corn, frozen vegetables and imported fruits like avocados, apricots, figs, grapes, nectarines, cherries, and berries would have been subject to the six per cent GST.
Sulaiman Mahbob acting Chairman of FGV, Isa moves to SPAD
Prime Minister Datuk Seri Najib Razak announced Felda Global Ventures Holdings Bhd (FGV) director Tan Sri Sulaiman Mahbob will be filling in temporarily as its chairman after Tan Sri Isa Samad resigned from the post today. Datuk Seri Najib said Isa is now acting chairman of the Land Public Transport Commission (SPAD). The prime minister added that the FGV board will decide the fate of its suspended president and chief executive Datuk Zakaria Arshad later.
ASEAN and China Beckon for Proton With Geely
ASEAN countries and China are now within reach for Proton to market its cars following its recent strategic partnership deal with China’s Geely Holding Group Co Ltd, said geo-strategist, Dr Azmi Hassan. “One thing is clear from the start, Geely is aiming for the global market as this has been its business model all along. To begin with, Malaysia is well on its way to becoming the gateway to the Asean market”.