News about Malaysia

PETALING JAYA (July 24): Due to additional costs incurred by changes in design and delivery schedule of the project, contractors with work packages in the Light Rail Transit 3 (LRT3) project have said that they would seek compensation.

PETALING JAYA (July 23): China Communications Construction (ECRL) Sdn Bhd (CCC-ECRL) has confirmed that it is rationalising its staff count following the suspension of the East Coast Rail Link (ECRL), without stating the number of employees cut.

\KUALA LUMPUR (July 23): Iskandar Waterfront City Bhd (IWCity) fell 6.

KUALA LUMPUR (July 23): Putrajaya may not have any leeway to cut the corporate tax rate in the short to medium term, but economists say there are other approaches it can consider to ease the cost of doing business.

KUALA LUMPUR (July 23): A chunk of the increase in costs for the light rail transit Line 3 (LRT3) project — from RM9 billion to RM31.

KUALA LUMPUR (July 21): The proposed and impending Sales and Services Tax (SST) is more or less similar to what was previously implemented, but with some changes, tax analysts told The Edge recently.

KUALA LUMPUR (July 21): Iskandar Waterfront City Bhd (IWCity) announced that its parent firm, Iskandar Waterfront Holdings Sdn Bhd (IWH), has not submitted a fresh bid for projects related to the development of Bandar Malaysia, which was earlier touted to be worth RM160 billion in gross development value.

KUALA LUMPUR (July 21): State governments have been urged to support the construction of affordable homes by providing the sites to build the properties, said Housing and Local Government Minister Zuraida Kamaruddin.

KUALA LUMPUR (July 20): The goods to be exempted from the Sales and Service Tax (SST), which include big-ticket items, posted on the Royal Malaysian Customs Department’s website, are still at the proposal stage, Bernama reported today.

KUALA LUMPUR (July 20): Prime Minister Tun Dr Mahathir Mohamad said today that under Malaysia’s new government, the nation will be business-friendly, and will enhance anti-corruption practices, in order to attract inflows of foreign and domestic direct investments.