Latest news with #Soh
The Star
17 hours ago
- Business
- The Star
13MP's job targets reflect commitment to digitalisation and manufacturing growth, says FMM
PETALING JAYA: The ambitious targets to create 700,000 new jobs in manufacturing and 500,000 in the digital economy announced in the 13th Malaysia Plan (13MP) signal the government's robust commitment to counter de-industrialisation while embracing digitalisation and advanced technologies, says Tan Sri Soh Thian Lai. The Federation of Malaysian Manufacturers (FMM) president emphasised that the focus on human capital reform is timely and necessary. "It is commendable, especially with the goal of raising labour's share of GDP to 40% and achieving full employment by 2030," he said in a statement on Thursday (July 31). He also noted the importance of aligning wages with skills, qualifications, and job roles, including extending minimum wage coverage to skilled and TVET graduates. "It is a positive step toward enhancing job quality and retaining talent. "Such wage-setting initiatives should be positioned as guidelines rather than mandates, as remuneration based on skills and qualifications will differ across industries due to variations in job complexity, market conditions, and productivity levels," he said. FMM also supports the implementation of the multi-tier levy mechanism aimed at encouraging automation and the hiring of local workers. However, Soh cautioned against abruptly reducing foreign worker reliance, advocating for gradual implementation with sector-specific considerations. "Flexibility in implementation is essential to balance competitiveness with inclusivity," he said. Soh also commended the RM430bil for development expenditure, a fiscal strategy that balances stimulating demand with maintaining debt sustainability. "Public investment, particularly in infrastructure and skills upgrading, will serve as a foundational enabler for economic growth," he said. Soh noted that the 13MP provided a strategic framework for resilience, productivity, and transformation from 2026 to 2030, with manufacturing positioned as a key growth driver. Recent data underscoring the manufacturing sector's strong economic returns, especially in the electrical & electronics (E&E) segment, supports this focus. Emphasising the importance of public service reform, Soh called for the use of innovative technologies to enhance service delivery and rebuild trust in government. "Good governance and accountability are essential for the successful implementation of the RMK13," he said. Soh also praised the 13MP's focus on digitalisation, AI, and renewable energy as catalysts for industrial transformation. "The push for 'Made by Malaysia' products is well-placed, with SMEs playing a central role in driving innovation and value creation," he said, referring to initiatives like the expansion of 5G and the National AI Action Plan. Soh noted that FMM views the 13MP as a strategic emphasis on high-productivity, investment-driven growth, with the manufacturing sector at the core of achieving macroeconomic and employment objectives. "With effective implementation, the manufacturing ecosystem, particularly E&E, advanced automotive, and green industry, can serve as a national growth engine. "We also see opportunities to deepen regional and sectoral spillovers through targeted infrastructure, regional development, and workforce reforms. "The 13MP lays a credible foundation; delivering on this plan will require policy coherence, private sector engagement, and sustained institutional focus," added Soh.
AsiaOne
a day ago
- AsiaOne
Primary school student approached by vape peddlers at Dover Road; school alerts authorities, Singapore News
The authorities have been alerted after a Primary 4 student was approached by two teenagers who tried to sell him an e-vaporiser on his way home from school. The incident involved a student from Fairfield Methodist School (Primary) and occurred on July 25 at a zebra crossing along Dover Rise, which is situated between Fairfield Methodist School and Anglo-Chinese Junior College. Speaking to AsiaOne, Soh Mei Foong, the principal of Fairfield Methodist School (Primary), said that the school immediately reported the incident to the authorities after being alerted on July 25. "Students were informed of the incident and reminded not to engage with strangers and to inform trusted adults, should they be approached by any stranger or suspicious person," she said. The school will also be stepping up their surveillance efforts within the vicinity of the school premises after school as a precautionary measure, said Soh. A parent of a nine-year-old student from the school told Lianhe Zaobao that he received a WhatsApp message from the class' group chat regarding the incident last Friday. The student was reportedly ridiculed after rejecting the peddlers and walking away. The parent also said that the school had issued a notice to parents on their Parents Gateway platform on Wednesday (30 July). Rachel Ong, an MP for Tanjong Pagar GRC shared about the incident on her social media accounts that day. "This happened in broad daylight. Thankfully, he knew to walk away but not all our children may know how to respond," she said, urging parents to speak with their children on how to react to such situations. Speaking on the sidelines of a media event on Wednesday (July 30), Coordinating Minister for National Security & Minister for Home Affairs, K Shanmugam, spoke about the younger demographic of vape users and said that education regarding vapes needs to begin with parents and schools. At the event, he also said that the Ministry of Home Affairs will be listing etomidate as a Class C drug under the Misuse of Drugs Act (MDA), in hopes of curbing the drug-laced vapes with harsher penalties. AsiaOne has reached out to the Ministry of Education for comments. More students used vapes in 2024 There were 2,000 cases of students, including those from institutes of higher learning, reported for possessing or using e-vaporisers in 2024, said Health Minister Ong Ye Kung in a written parliamentary reply in response to a question by Ong on Feb 26. This is up from 800 cases in 2022, and 900 cases in 2023. Possessing, using or buying vapes carries a maximum fine of $2,000. Anyone who distributes, imports or sells vapes and their components can be jailed for up to six months and fined up to $10,000. [[nid:720737]]
New Straits Times
a day ago
- Business
- New Straits Times
Scrapping luxury tax a relief for retailers, say experts
KUALA LUMPUR: The government's decision to scrap the long-mooted High-Value Goods Tax (HVGT) is expected to ease compliance burdens on businesses, particularly those in the retail and luxury sectors. KPMG Malaysia head of tax Soh Lian Seng said while the government had officially shelved the standalone HVGT, it had not abandoned the idea of taxing luxury consumption. "Rather than introducing a brand-new tax with its own rules, thresholds and enforcement challenges, the government is leveraging an existing system that businesses are familiar with," said Soh. He added that the higher sales tax of five per cent or 10 per cent on luxury and discretionary items was likely to shift consumer behaviour, especially among price-sensitive buyers. While short-term demand might soften, he said, the fundamentals of Malaysia's luxury market were expected to remain strong, supported by rising affluence and continued interest from foreign tourists. Economist Dr Geoffrey Williams said the HVGT and low-value goods taxes distorted the market and imposed a significant administrative burden on the Inland Revenue Board. He said that these taxes generate so little revenue that they were hardly worth the effort and cost of implementation. Removing the tax would simply return the system to the status quo, with no significant impact other than the forgone revenue, he added. Nevertheless, Williams said, there should be a full review of the taxation system as it was a mass of ad-hoc taxes for ill-defined purposes, inefficient in raising revenue and causing market distortions. He said one alternative is an electronic payments tax, which is a tiny tax on electronic transactions. SME Association of Malaysia national president Dr Chin Chee Seong said the association believed there should not have been a luxury goods tax in the first place, as it was difficult to implement effectively. He added that if luxury items were taxed and become too expensive locally, affluent consumers might buy them overseas, such as in Singapore or other countries. "Those who can afford luxury items often travel, so imposing such a tax doesn't make much sense to us." Overall, Chin said, the removal of the luxury goods tax helped create a more level-playing field for domestic businesses. He added that businesses and SMEs were relieved and welcomed the move, as it eased the burden on businesses operating in the luxury segment. In a written parliamentary reply on Tuesday, Prime Minister Datuk Seri Anwar Ibrahim, who is finance minister, said the government discontinued the implementation of the HVGT. "However the principles for the imposition of the HVGT have been incorporated into the sales tax review where luxury and choice goods are taxed at a rate of five per cent or 10 per cent." He added that the revision of the Sales and Service Tax, which took effect on July 1 this year, was expected to increase revenue by RM5 billion in 2025 and reach RM10 billion in 2026. Additional reporting by Zaf Seraj and Iylia Marsya Iskandar
The Sun
2 days ago
- Sport
- The Sun
World champion Soh Wai Ching named ambassador of The Sky Race at Merdeka 118
Soh Wai Ching, tower runner World Champion, has been named the official ambassador for the event. Soh will not only bring his world-class energy to race day but will also lead pre-event training sessions, providing invaluable insights and motivation to participants. The event's sanctioning by the Malaysia Towerrunning Association further solidifies its standing within the international tower-running community, ensuring a professionally organised and recognised competition. The Sky Race, a groundbreaking vertical challenge set to take place on Saturday 30 Aug 2025 at Merdeka 118. This event offers participants a unique opportunity to climb all 118 floors and conquer the 2,845 stairs, culminating at Level 118 – a level never before open to the public and is accessible for only this one day. Timed with the Merdeka Day weekend, The Sky Race at Merdeka 118 serves as a profound tribute to national pride and progress. As participants climb to the summit of Merdeka 118, which stands proudly as the second tallest building in the world at 680 meters.
The Sun
2 days ago
- Sport
- The Sun
Conquer New Heights: The Sky Race at Merdeka 118
Soh Wai Ching, tower runner World Champion, has been named the official ambassador for the event. Soh will not only bring his world-class energy to race day but will also lead pre-event training sessions, providing invaluable insights and motivation to participants. The event's sanctioning by the Malaysia Towerrunning Association further solidifies its standing within the international tower-running community, ensuring a professionally organised and recognised competition. The Sky Race, a groundbreaking vertical challenge set to take place on Saturday 30 Aug 2025 at Merdeka 118. This event offers participants a unique opportunity to climb all 118 floors and conquer the 2,845 stairs, culminating at Level 118 – a level never before open to the public and is accessible for only this one day. Timed with the Merdeka Day weekend, The Sky Race at Merdeka 118 serves as a profound tribute to national pride and progress. As participants climb to the summit of Merdeka 118, which stands proudly as the second tallest building in the world at 680 meters.
