Anwar's avocado, Najib's quinoa, what's the difference? Asks Muda
Muda questioned what difference is there between Prime Minister and Finance Minister Anwar Ibrahim when compared to Najib Abdul Razak, in light of the impending sales and service tax (SST) expansion.
Entering the fray on the discourse over the tax expanding to imported fruits, acting Muda president Amira Aisya Abd Aziz said Anwar's remarks on avocados resembled Najib's on quinoa.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malaysia Sun
3 hours ago
- Malaysia Sun
Protectionism must not be allowed to derail green transition, energy security
KUALA LUMPUR, June 16 (Xinhua) -- Protectionism and geopolitical tensions must not be allowed to threaten the transition to green technologies and energy security, Malaysian Prime Minister Anwar Ibrahim said here on Monday. Considering the long-term nature of these challenges, efforts to provide security against such disruptions must be a top priority to ensure the stability of the global economy and the continuation of human growth and development, Anwar said in his keynote address at the Energy Asia 2025 conference. "Geopolitical tensions, retaliatory tariffs, and disrupted supply chains have fueled uncertainty; eroding the predictability, reliability and stability that global trade and economic systems once offered," he said. "This fragility is perhaps most evident in the energy and climate domain. Rather than fostering collaboration, we are witnessing polarizing policy shifts driven by strategic competition, even as energy security remains out of reach for many," he said. As part of efforts to build resilience against such disruptions, Anwar suggested a clear and coherent financial architecture that inspires investor confidence and mobilizes greater capital flows into renewable energy projects across Southeast Asia, as well as upgrading electricity grids, which will pave the way for an accelerated adoption of green technologies. "This is critical, given that in 2023, Southeast Asia attracted only 2 percent of global clean energy spending -- a stark contrast for a region endowed with immense potential in renewable energy: wind in Vietnam, hydropower in Laos, solar in Malaysia and geothermal energy in Indonesia," he said. "At the recent ASEAN Summit, we took a significant step forward by accelerating the ASEAN Power Grid (APG) initiative through an enhanced memorandum of agreement and the establishment of a dedicated APG financing facility network. This will enhance cross-border funding flows and bring us closer to a truly integrated regional energy market," he explained. Anwar also noted the progress that Malaysia has made as chair of ASEAN in putting dialogue and multilateralism first and building strong ties with major energy exporters in the Gulf Cooperation Council (GCC), noting the successful inaugural ASEAN-GCC-China summit last month. "Here in Asia, we hold fast to the belief that diplomacy prevails over autocracy, and healthy competition can coexist with mutually-beneficial outcomes," he added. The conference gathers representatives from 38 industries across more than 60 countries and regions under the theme "Delivering Asia's Energy Transition," bringing together policymakers, industry leaders and energy professionals to align strategies and pragmatic solutions that meet the unique challenges and opportunities of developing and emerging economies.
The Sun
4 hours ago
- The Sun
Margma urges govt to rethink imposition of 5% SST on rubber glove raw materials
PETALING JAYA: The Malaysian Rubber Glove Manufacturers Association (Margma) is urging the government to defer and review the imposition of 5% Sales and Service Tax (SST) on natural rubber latex and nitrile butadiene rubber latex raw materials. In a statement today, Margma said the rubber glove industry is Malaysia's largest export contributor to total rubber product exports, generating RM15.41 billion in export revenue last year and supporting more than 78,000 direct jobs. Margma said applying SST to essential raw materials will immediately raise production costs. For companies that have already secured forward sales, absorbing these sudden additional costs will prove unfeasible, the association added. Margma said that at a time when global glove prices remain highly competitive, the added cost cannot be passed on to overseas buyers; instead, it will erode already thin margins, reduce cash flow for reinvestment and further weaken Malaysia's share in a market now dominated by lower-cost producers. Beyond direct cost escalation, it said, the expanded SST risks causing a cascading effect on the entire domestic rubber ecosystem. 'Upstream latex processors and chemical suppliers will face higher operating expenses, while downstream medical-device and industrial-glove manufacturers – many of them SMEs will feel the squeeze on working capital. This could slow job creation, deter future automation projects and jeopardise Malaysia's strategic ambition to remain a global centre for high-value glove production,' said the association. Margma said it fully supports the government's broader revenue diversification agenda, but believes that taxation policy should not undermine a sector that has consistently delivered foreign exchange, high-quality employment and substantial upstream linkages. 'We therefore echo similar appeals by other associations for a calibrated approach: postpone the implementation date, conduct a thorough cost-benefit study with industry participation and consider targeted exemptions or zero-rating for critical raw materials where export competitiveness is at stake.' Margma said it stands ready to collaborate with the Ministry of Finance, the Royal Malaysian Customs Department and all relevant agencies to craft a balanced solution that safeguards fiscal objectives while preserving Malaysia's leadership in the global rubber glove value chain.
The Sun
4 hours ago
- The Sun
Malaysia Retailers Association seeks SST waiver on commercial rentals to protect businesses, consumers
PETALING JAYA: The Malaysia Retailers Association (MRA) has urged the Ministry of Finance (Mof) to waive the planned 8% Sales and Service Tax (SST) on commercial rental and leasing services, scheduled to take effect on July 1. Retail businesses across the country are already under immense pressure from a succession of cost increases, including but not limited to the minimum wage increase to RM1,700; electricity tariff hikes; stamp duty on employment contracts; fuel subsidy rationalisation; the SST rate hike from 6% to 8%; and the 10% sales tax on low-value imported goods, MRA said in a statement, adding that these are just a few examples of rising fixed operational costs. 'The full scope of burdens faced by retail businesses is much broader, but even these alone are already impacting business sustainability and bottom lines,' it added. MRA said the additional 8% SST on commercial rentals – introduced without any consultation or engagement with the retail sector – adds further pressure. 'Rental is among the largest fixed costs for many businesses and this tax will push operating expenses even higher. It is unrealistic to expect retail businesses to absorb the full impact and many may have no choice but to pass these costs on to consumers – contributing to inflation and intensifying the rakyat's cost-of-living burden,' the association said. Compounding these challenges, it said, is the growing uncertainty in the global economy, especially in light of the recent escalation in geopolitical tensions between Iran and Israel. This conflict has already begun affecting regional confidence, global commodity prices, and trade flows – making it an especially inappropriate time to introduce new tax burdens. In light of these concerns, MRA strongly urged that a complete waiver of SST on commercial rental and leasing services or at minimum, defer implementation sine die, until macroeconomic and geopolitical conditions stabilise. If implemented, the association urged that the SST should be shared fairly between landlords and tenants, rather than passed entirely to retail businesses. It also urged that service charges and shared area fees should be excluded from the SST scope; the SST exemption threshold should be raised to RM2 million in annual sales to safeguard small and independent retail businesses; defer the SST on rentals until after Visit Malaysia Year 2026 to preserve industry stability and support tourism-linked growth and introduce the SST gradually, starting at 3% and increasing progressively to 8% over five years. MRA said that retail businesses play a vital role in domestic economic growth and employment and thus it is critical that policies impacting this sector are implemented with transparency, fairness and proper stakeholder engagement. MRA said it welcomes further discussion with MoF to find a balanced and sustainable approach that supports both businesses and consumers.
