<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 4): Prime Minister Datuk Seri Najib Tun Razak said Malaysia's Goods and Services Tax (GST), albeit unpopular, has been a crucial source of government income to mitigate the fall in the country's oil revenue.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Najib wrote this in najibrazak.com today, in response to allegations that the Government had implemented the 6% GST due to 1Malaysia Development Bhd's (1MDB) finances.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>"Until today, the people's quality of life is preserved due to the GST. The truth is there is no tax, which is popular regardless of&nbsp;the development contributed by the GST. &nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"To say that the GST is due to the Government's administration failure is a lie, because another 160 countries are also implementing the GST. The list includes England (the UK), France, Germany and Canada," Najib said.</p></div>

<div class=newsTextDataWrapInner><p>Malaysia had implemented the GST since April 1, 2015. Crude oil futures had traded above US$100 a barrel in 2013, before falling to about US$50 a barrel now.</p></div>


KUALA LUMPUR (Aug 4): Prime Minister Datuk Seri Najib Tun Razak said Malaysia's Goods and Services Tax (GST), albeit unpopular, has been a crucial source of government income to mitigate the fall in the country's oil revenue. 

Najib wrote this in najibrazak.com today, in response t...

PM Najib refutes Malaysia's GST-1MDB link

Voice TV, a Thai media company owned by former prime minister Thaksin Shinawatra’s family, said it will cease operations next month and lay off about 200 employees including journalists.

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(April 26): The allies of Republican presidential candidate Donald Trump are drafting proposals that would attempt to erode the Federal Reserve's independence if he wins, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

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S P Setia Bhd will launch Casaville, which comprises 38 single-storey bungalows, in its Setia EcoHill township in Semenyih at end-April.

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HOUSTON (April 26): Exxon Mobil Corp missed analysts' estimates on Friday with a 28% year-on-year drop in first quarter profits, as weaker refining margins and lower natural gas prices offset volume gains.

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The Employees Provident Fund (EPF) has emerged as the second largest shareholder of aero-engine components manufacturer Sam Engineering & Equipment (M) Bhd, after Singapore's sovereign wealth fund Temasek Holdings Pte Ltd.

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PADANG BESAR (April 26): Communications Minister Fahmi Fadzil said on Friday that the Terengganu government’s decision to reject the Territorial Sea Act 2012 through a motion passed in the State Legislative Assembly (DUN) on Thursday (April 25), has been seen as a cynical and hypocritical act.

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MOSCOW/LONDON (April 26): Russia's central bank held its key interest rate at 16% for the third meeting running on Friday, but raised its inflation forecast for 2024, acknowledging for the first time that it may struggle to reach its 4% target this year.

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Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi's defamation lawsuit against former prime minister Tan Sri Muhyiddin Yassin is headed for a settlement after the two leaders agreed to end a personal dispute between them.

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Gadang Holdings Bhd has secured a RM280 million contract to design and develop the Klang Valley Data Centre Block 2 in Cyberjaya from TM Technology Services Sdn Bhd, a business entity of Telekom Malaysia Bhd.

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The US equity market will continue to rely on a handful of megacap stocks for direction until an uptick in real interest rates ignites recession fears, according to Bank of America Corp strategists.

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Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

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<p>The Inland Revenue Board (IRB) has extended the deadline for non-business taxpayers to submit their tax return form for the year of assessment 2023 via e-Filing from April 30 to May 15.</p>


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<p>Berjaya Corp&nbsp;Bhd (BCorp) has denied that its founder Tan Sri&nbsp;Vincent Tan Chee Yioun participated in talks to revive a US$100 billion (RM477.60 billion)&nbsp;Forest City casino resort as reported recently.</p>


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<p>Maxis Bhd could work with another consortium partner to lower the cost of deploying the second 5G network, even after the recapitalisation of Digital Nasional Bhd (DNB), said RHB Research in a note on Friday.</p>


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<p>Analysts believe Capital A Bhd's proposed restructuring plan will help the group exit the Practice Note 17 (PN17) status and enhance its competitiveness, as well as provide benefits to AirAsia X Bhd's (AAX) shareholders in terms of free warrants and improved company valuation post restructuring.</p>


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<p>The corporate exercise to merge the AirAsia airline businesses under AirAsia X Bhd (AAX) is apparently sufficient to offset all of the RM8.7 billion negative equity in Capital A Bhd, according to chief executive officer Tan Sri Tony Fernandes.</p>


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<p>Doctor-turned-businessman Tan Sri Mohan MK Swami and his partner Datuk Seri Dr Shamir Kumar Nandy agreed on Friday to acquire a 58% stake in property management company Turiya Bhd for RM52.86 million from MAA Group Bhd.</p>


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<p>Shares in ViTrox Corp Bhd fell to their lowest in a month, as first-quarter results disappointed investors, while analysts turned increasingly cautious on the semiconductor company’s near-term prospects.</p>

<p>ViTrox fell as much as 6% before ending the day at RM7.40, its lowest since March 26, 2024. The stock was still down a little under 3% at the closing bell after 5.29 million shares changed hands. In contrast, the country’s benchmark index FBM KLCI was 0.4% higher.</p>


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<p>The Securities Commission Malaysia (SC) has updated its Investor Alert List.</p>


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<p>Uday Kotak built his Kotak Mahindra Bank Ltd over decades to become Asia’s richest banker. After India’s regulator slapped his firm with a surprise ban, he’s facing one of his biggest tests yet — and a dip in wealth.</p>


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<p>RHB Retail Research said YTL Corp Bhd is eyeing to extend the upside movement after it staged a bullish breakout.</p>


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<p>Mercury Securities Sdn Bhd has valued ACE Market-bound Sin-Kung Logistics Bhd at 14 sen based on a 14 times financial year 2025 (FY2025) earnings per share forecast of one sen.</p>


Mercury Securities values ACE Market-bound Sin-Kung Logistics at 14 sen

<p>Malayan Banking Bhd (Maybank) has obtained a summary judgement at the High Court here against ACE Credit (M) Sdn Bhd, ACE Corporation (M) Sdn Bhd, and the company directors Datuk Choong Chee Meng and Chang Ai Nee, for defaulting on a RM46.47 million loan given to them by the bank.</p>


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<p>Prime Minister Datuk Seri Anwar Ibrahim on Friday suggested all parties mentioned in a recent report&nbsp;alleging that the government is planning to issue&nbsp;a licence for a casino in&nbsp;Forest City, Johor, to take necessary action&nbsp;against the foreign news agency.</p>


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<p>The country’s&nbsp;fifth-generation (5G) network&nbsp;adoption rate has reached nearly 36% as of mid-April, while the service coverage rate stood at 80.3% in February.</p>


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<p>RHB Retail Research said VS Industry Bhd is poised to continue the bullish trajectory after it broke past the key resistance on high volume.</p>


VS Industry poised to continue bullish trajectory, says RHB Retail Research 

<p>Nestle (Malaysia) Bhd is slated to raise prices for 22 of its products starting July 1, according to the Federation of Sundry Goods Merchants Associations of Malaysia (FSGMAM).</p>


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<p>The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise £250 billion (RM1.28 trillion) a year for the global fight against poverty, inequality and global heating, ministers from four leading economies have suggested.</p>


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<p>The battle for consumer attention in China's electric car market is being fought over touches of "tech luxury" that car buyers in other markets have never seen.</p>

<p>China’s upstart electric brands, and even its state-owned, legacy automakers, are racing to pack technology and features once considered premium into electric vehicles (EVs) as cheap as US$20,000 (RM95,525) — less than half the cost of an average new car in the US, now more than US$48,000.</p>


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<p>Pavilion Real Estate Investment Trust rose to its highest in more than a month&nbsp;after the release of its first-quarter results, while analysts expect the REIT, which mainly manages shopping malls, to benefit further from higher tourist arrivals.</p>
