Budget 2020 is not able to stimulate the Malaysia economy next year as it does not feature any tax relief while the cost of living is expected to continue rising, said former Prime Minister Datuk Seri Najib Razak.

“Budget 2020 is not enough to stimulate the economy, not even materialising their promises. Our plan in the past was to reduce income tax gradually, especially for the middle-income group, and reduce corporate tax, because our corporate tax is higher than Singapore's,” he told reporters at Parliament lobby today.

Budget 2020 not able to stimulate economy, Najib says

KUALA LUMPUR (Nov 2): The following are the highlights of Budget 2019:


	Themed 'Malaysia Wibawa, Ekonomi Dinamik, Rakyat Sejahtera', Budget 2019 will have 3 focus areas, and 12 main strategies to return Malaysia's economic position as an Asian Tiger
	
		1st focus: Imple...

Budget 2019 Highlights

FULL Budget 2019 Speech

FRIDAY, 2 NOVEMBER 2018

A resurgent Malaysia, a dynamic economy, a prosperous society

Mr Speaker Sir,

1. I beg to move the Bill intituled “An Act to apply a sum from the Consolidated...

Full Budget 2019 speech 

PETALING JAYA (Nov 2): The Securities Commission Malaysia (SC) said the Budget 2019 has identified key priorities to support the transition of the Malaysian economy towards a more balanced, sustainable and inclusive growth.

In a press release issued today, it said technology has encoura...

SC supports use of tech such as property crowdfunding platforms in driving economy

PETALING JAYA (Nov 2): It would make more sense for the government to increase the Real Property Gains Tax (RPGT) rates within the first five years instead of imposing a 5% tax rate for Malaysian individuals after the fifth year, said the Association of Valuers, Property Managers, Estate Agents a...

Increase RPGT rates within first 5 years would make more sense, says PEPS

PETALING JAYA (Nov 2): The National House Buyers Association (HBA) has urged the government to take measures to slow down escalating property prices by raising the supply of homes in the affordable housing segment through  government-linked corporations, state economic agencies and  bod...

HBA urges measures to slow down property price growth

PETALING JAYA (Nov 2): The Institute for Democracy and Economic Affairs (IDEAS) senior fellow Dr Carmelo Ferlito has applauded the commitment made by the Real Estate and Housing Developers’ Association Malaysia (Rehda) to reduce house prices by 10% for new projects that are not subject to price c...

IDEAS applauds REHDA’s commitment to lower house prices by 10%

PETALING JAYA (Nov 2): The Malaysian Institute of Estate Agents (MIEA) has described Budget 2019 as a budget with “more answers than questions”.

“At first glance, I feel Budget 2019 is very different from the previous one as it has more answers than questions. The budget has a very clea...

A budget with 'more answers than questions', says MIEA

PETALING JAYA (Nov 2): Kenanga Head of Equity Research Sarah Lim (pictured) said it will be interesting to know how the current government will monitor the selling prices of new houses.

She was commenting on the Budget 2019 announcement that states the Real Estate and Housing Developers...

How will govt monitor new home prices, asks Kenanga

KUALA LUMPUR (Nov 2): The absence of an excise duty hike in Budget 2019 comes as a relief to brewers like Carlsberg Brewery Malaysia Bhd today.

That's because a further hike in excise duties, if any, will lead to a dramatic increase in contraband beers, which already account for approxi...

Carlsberg breathes sigh of relief on no excise duty hike

KUALA LUMPUR (Nov 2): United Oversea Bank (Malaysia) Bhd (UOB) views Malaysia’s higher headline fiscal trajectory as outlined in Budget 2019 as temporary, although it is concerned about execution risks and revenue uncertainties.

“Despite higher fiscal targets, we see it as a temporary d...

Higher fiscal deficit targets seen as temporary

KUALA LUMPUR (Nov 2): The Government will use some RM30 billion in special dividends from  Petroliam Nasional Bhd (Petronas) to partly repay RM37 billion worth of outstanding GST and income tax refunds, said Finance Minister Lim Guan Eng.

Lim has said back in September that the Gov...

Mixed views on taxes refund resolution via Petronas’ cash dividends

KUALA LUMPUR (Nov 2): Following the Government’s guidance of a wider fiscal deficit in 2018 than targeted by the previous administration, rating agencies have voiced concerns over the level of Malaysia’s national debts.

Finance Minister Lim Guan Eng, in presenting Budget 2019 today, ann...

Rating agencies raise concern over widened fiscal deficit in 2018

KUALA LUMPUR (Nov 2): Organisations may not have enough time to implement the new minimum wage by the new year, says recruitment specialist Kelly Services.

“While employees will be celebrating increase in minimum wages from RM1,050 to RM1,100, we are concerned about the impact of this s...

'Short notice for new minimum wage may be problematic for employers'

Kuala Lumpur Kepong Bhd (KLK) is investigating allegations of unethical recruitment practices made against the sub-agents of SOS Manpower Service, its appointed agent to recruit Nepalese foreign workers for its subsidiary KL-Kepong Rubber Products Sdn Bhd.

The allegations, according to KLK, were made by Sajha Sabal Media, a news portal in Nepal.

KLK investigating allegations of unethical practice linked to its foreign worker recruitment agent

The Kuala Kubu Baharu (KKB) state by-election will see a four-cornered fight between the candidates of Pakatan Harapan (PH), Perikatan Nasional (PN), Parti Rakyat Malaysia (PRM), and an independent.

A four-way bout in Kuala Kubu Baharu by-election

China's industrial profits posted smaller gains for the first quarter compared to the first two months, official data showed on Saturday, adding to evidence of an uneven recovery for the world's second-biggest economy.

China's first-quarter industrial profits rise at slower pace

Last December, the European Union set a global precedent by finalizing the Artificial Intelligence Act, one of the world’s most comprehensive sets of AI rules. Europe’s landmark legislation could signal a broader trend toward more responsive AI policies. But while regulation is necessary, it is i...

The Visible Hand: Governments must shape AI’s future

Singapore will introduce a new law this year that will help so-called gig-economy workers plan for their retirement needs and get work injury protection, Minister for Manpower Tan See Leng said.

Singapore plans law to support gig workers’ retirement needs

The nomination centre for the Kuala Kubu Baharu state by-election closed at 10am on Saturday.

The announcement was made by returning officer Yuhanas Auree Kamaruddin at the Hulu Selangor Multipurpose Hall and District Sports Complex here.

Nomination centre for Kuala Kubu Baharu by-election closes at 10am

Alphabet Inc closed decisively above a US$2 trillion (RM9.54 trillion) market capitalisation for the first time on Friday, as a powerhouse earnings report reassured investors that the Google parent would be a major player in artificial intelligence (AI).

Alphabet joins US$2 trillion club as results show AI strength

Candidates contesting the upcoming Kuala Kubu Bharu by-election, a semi-urban seat located in the Hulu Selangor district, have started executing their campaign strategies over the weekend. The by-election is being held following the demise of its incumbent, Lee Kee Hiong from DAP, on March 21 due to cancer.

The Week Ahead: Attention on KKB by-election, FOMC decision, trade data in Asia

Richly valued US stocks are leaving investors with little tolerance for disappointment, raising the stakes ahead of a week in which two more technology and growth giants are set to report.

Lofty US stocks leave investors punishing earnings disappointments

Two earthquakes, the largest a 6.1 magnitude, struck Taiwan's eastern county of Hualien on Saturday, the island's weather administration said, with no immediate reports of damage.

The quakes, within half an hour of each other in the early hours of the morning, shook buildings in the capital, Taipei.

Taiwan rattled by quakes again, no immediate reports of damage

The creation of Flexible Account 3 for anytime withdrawals from May 11 means Employees Provident Fund (EPF) members can choose to take out up to a third of the balance in their existing Wellbeing Account 2.

Who pays for anytime EPF withdrawals?

The Kuala Kubu Baharu (KKB) state by-election will see a four-cornered fight between the candidates of Pakatan Harapan (PH), Perikatan Nasional (PN), Parti Rakyat Malaysia (PRM), and an independent.

Global&nbsp;stocks were higher on Friday, as Big Tech gains lifted Wall Street shares, while Japan's yen&nbsp;sank to a&nbsp;34-year low after the Bank of Japan (BOJ)&nbsp;kept&nbsp;monetary policy loose.

Global stocks gain on Big Tech lift; yen slides to 34-year low

Alphabet Inc&nbsp;closed decisively above a US$2 trillion (RM9.54 trillion) market capitalisation for the first time on Friday, as a powerhouse earnings report reassured investors that the Google parent would be a major player in artificial intelligence (AI).

The Perak government is expected to establish cooperation with Star Group Industries (SGI), a leading South Korean company with experience in the production of downstream products of rare earth elements (REE).

Perak to collaborate with rare earth elements company from South Korea, says MB

Richly valued US&nbsp;stocks are leaving investors with little tolerance for disappointment, raising the stakes ahead of a week in which two more technology and growth giants are set to report.

The nomination centre&nbsp;for the Kuala Kubu Baharu state by-election closed at 10am on Saturday.

The announcement was made by returning officer Yuhanas Auree Kamaruddin&nbsp;at the Hulu Selangor Multipurpose Hall and District Sports Complex here.

Candidates contesting the upcoming Kuala Kubu Bharu by-election, a semi-urban seat located in the Hulu Selangor district, have started executing their campaign strategies over the weekend. The by-election is being held following the demise of its incumbent, Lee Kee Hiong from DAP, on March 21 due to cancer.

US&nbsp;regulators have seized Republic First Bancorp and agreed to sell it to Fulton Bank, the Federal Deposit Insurance Corp (FDIC) said on Friday, underscoring the challenges facing regional banks a year after the collapse of three peers.

US regulators seize troubled lender Republic First, sell it to Fulton Bank

Singapore will introduce a new law this year that will help so-called gig-economy workers plan for their retirement needs and get work injury protection, Minister for Manpower Tan See Leng said.

Kuala Lumpur Kepong Bhd (KLK) is investigating allegations of unethical recruitment practices made against the sub-agents of SOS Manpower Service, its appointed agent to recruit Nepalese foreign workers for its subsidiary&nbsp;KL-Kepong Rubber Products Sdn Bhd.

The allegations, according to KLK, were made by Sajha Sabal Media, a news portal in Nepal.

Two earthquakes, the largest a 6.1 magnitude, struck Taiwan's eastern county of Hualien on Saturday, the island's weather administration said, with no immediate reports of damage.

The quakes, within half an hour of each other in the early hours of the morning, shook buildings in the capital, Taipei.

Nomination&nbsp;for the Kuala Kubu Baharu state by-election opened at 9am on Saturday at&nbsp;the Hulu Selangor Multipurpose Hall and District Sports Complex here.

Nomination opens at 9am for Kuala Kubu Baharu by-election

Apple Inc&nbsp;has renewed discussions with OpenAI about using the start-up’s technology to power some new features coming to the iPhone later this year, according to people familiar with the matter.&nbsp;

Apple intensifies talks with OpenAI for iPhone generative AI features

China's industrial profits posted smaller gains for the first quarter compared to the first two months, official data showed on Saturday, adding to evidence of an uneven recovery for the world's second-biggest economy.

Last December, the European Union set a global precedent by finalizing the Artificial Intelligence Act, one of the world’s most comprehensive sets of AI rules. Europe’s landmark legislation could signal a broader trend toward more responsive AI policies. But while regulation is necessary, it is i...

Budget 2019

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