Editor’s Picks: 29 September 2017

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  • Government Has No Plans To Raise Taxes In 2018 Budget
  • PNB Declares 6 Sen Income Distribution For AS1M
  • Naza Italia Invests RM2.8 Million To Open Ferrari City Showroom
  • IGEM 2017 Aims To Generate RM1.6 Billion In Business Leads
  • Malaysian Company Proposes To Build Rail Line Linking Ports Of Songkhla And Penang

  • Government Has No Plans To Raise Taxes In 2018 Budget

The government does not plan to raise taxes in the 2018 Budget as it will burden the people currently dealing with the higher cost of living. Second Finance Minister, Datuk Seri Johari Abdul Ghani said, “We have no plan to tax the people further, I think the people are facing a lot of pressure.” He believed Prime Minister Datuk Seri Najib Tun Razak would be looking at ways to mitigate the effects from the higher cost of living in next year’s budget. “But we have to look at our revenue as well,” he told reporters.

PNB Declares 6 Sen Income Distribution For AS1M

Nasional Bhd (PNB) today announced an income distribution of 6.00 sen per unit for Amanah Saham 1Malaysia (AS1M) for the financial year ending September 30, 2017. This involved a total payout of RM724.10 million which would benefit more than 390,000 account holders who currently own 12.0 billion units, said PNB Group Chairman, Tan Sri Abdul Wahid Omar. “AS1M recorded a net income of RM600.47 million, a 16 per cent growth from RM517.28 million in 2016, which was attributed to a stronger domestic equity market performance, particularly in the finance and services counters,” he said at a media briefing on PNB’s third-quarter performance and AS1M income distribution in Kuala Lumpur. Tan Sri Abdul Wahid also announced that PNB recorded a net income of RM10.05 billion up to 31 August 2017, a growth of 8.8 per cent compared to the same period last year.

Naza Italia Invests RM2.8 Million To Open Ferrari City Showroom

The sole official importer and distributor of Ferrari in Malaysia, Naza Italia Sdn Bhd, has invested RM2.8 million in the development of the 3,115 square feet second Ferrari City Showroom at Naza Platinum Park. Naza World Group of Companies Group Executive Chairman, Datuk SM Faisal SM Nasimuddin, said the new showroom would showcase three latest Ferrari models as part of the company’s strategy to boost the brand’s presence in the metropolitan area. “Substantial growth in business calls for an expansion that will enable us to better serve Ferrari’s discerning clientele.”

IGEM 2017 Aims To Generate RM1.6 Billion In Business Leads

The 8th International Greentech and Eco Products Exhibition and Conference Malaysia (IGEM 2017) is poised to attract 25,000 trade visitors from over 20 countries and aims to generate RM1.6 billion in business leads. Organised by the Ministry of Energy, Green Technology and Water (KeTTHA) and co-organised by Malaysian Green Technology Corporation, the region’s go-to green technology platform will be held next month and features 320 exhibitor booths. “This year’s theme – Powering Green Cities – ties in seamlessly with Malaysia’s 2050 National Transformation aspiration of creating a greener future whereby cities are powered by renewable energy, people commute via electric and energy-efficient vehicles and live and work in green buildings,” KeTTHA Acting Deputy Minister, Datuk Seri SK Devamany said. This year’s edition is set to highlight key areas of green technology critical to the development of sustainable cities through dedicated zones that cover green energy, green transport, green buildings and green industry.

Malaysian Company Proposes To Build Rail Line Linking Ports Of Songkhla And Penang

A Malaysian company has proposed to build railway tracks linking the sea ports of Penang and Songkhla, said Thailand Ambassador to Malaysia Damrong Kraikruan. Thai and Malaysian government representatives are expected to meet in the next few weeks to dwell on the subject, he said. This idea will benefit both ports as they can serve as transit ports before goods are shipped to international destinations, he told a media briefing on the Malaysia-Thailand trade and investment ties in Kuala Lumpur.

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