News about ER

KUALA LUMPUR (Sept 25): Just a day after announcing that employers would only have to pay 20% of the RM10,000 levy for each foreign worker, Finance Minister Lim Guan Eng today did an about-turn and said employers will have to continue to pay the levy in full.

PETALING JAYA (Sept 25): Boutique property developer Temokin Development Sdn Bhd, a subsidiary of Temokin Holdings Sdn Bhd, has launched the first phase of its maiden property project – the Mahligai at Nusa Damai, Pasir Gudang, Johor – today, it said in a press release.

KUALA LUMPUR (Sept 25): Tune Group Sdn Bhd and ECM Libra Financial Group Bhd, via their joint venture company Tune Plato Ventures Sdn Bhd, have acquired a 50% stake into home-sharing platform SubHome.

KUALA LUMPUR (September 25): Former prime minister Datuk Seri Najib Razak’s brother Datuk Mohamed Nizam Razak has resigned as Petra Energy Bhd’s non-independent and non-executive director, after holding the position for only seven months since February this year.

KUALA LUMPUR (September 25): In an Instagram post yesterday, with a picture of himself and the setting sun as the background, Datuk Seri Nazir Razak wrote that “the sun is setting on my time in CIMB”, as he revealed he would be stepping down as chairman of CIMB Group by Dec 31.

KUALA LUMPUR (September 25): Sapura Energy Bhd’s wholly-owned units have secured three new jobs and a contract extension valued at about RM815 million.

PETALING JAYA (Sept 24): The Merdeka PNB118 skyscraper coming up near Stadium Negara here will become an alternative location to Kuala Lumpur City Centre (KLCC), said its developer PNB Merdeka Ventures Sdn Bhd.

KUALA LUMPUR (Sept 24): Reiterating Prime Minister Tun Dr Mahathir Mohamad's stance, Finance Minister Lim Guan Eng emphasised that while Malaysia welcomed all foreign property investors, it was opposed to the construction of townships exclusively for foreigners.

KUALA LUMPUR (Sept 24): Finance Minister Lim Guan Eng has urged developers to lower prices of homes as construction materials and services are exempted from the Sales and Service Tax (SST), or the government will review the waiver.

KUALA LUMPUR (Sept 24): To ease the burden of developers and bring down home prices, skilled foreign labour applying to extend their employment tenure need only pay 80% of the annual RM10,000 levy on foreign workers, said Finance Minister Lim Guan Eng today.