Latest news with #MydinHoldings
Malay Mail
a day ago
- Business
- Malay Mail
Zahid says Cabinet to rethink SST on imported fruits like apples, oranges, to avoid weighing down low wage earners
BANGI, June 19 — The government will review the implementation of the revised and expanded Sales and Services Tax (SST) on several selected imported goods, including fruits such as apples and mandarin oranges, Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi said today. He noted that the fruits are not produced locally but are fully imported, and therefore the tax should be reconsidered before imposing a rate of between five and 10 per cent. 'I believe it is reasonable for (the new SST rate on certain goods) to be reviewed and I think there will be an adjustment for certain materials to be categorised for tax at five to 10 per cent. '(But) don't take that conclusively,' he told reporters after officiating the Community Development Department (Kemas) Teachers' Day Celebration here. Earlier, Mydin Holdings Bhd managing director Datuk Ameer Ali Mydin Mohamed described the move to impose SST on imported fruit as unreasonable, saying it would also affect low-income consumers. Responding to this, Ahmad Zahid said the views raised by Ameer Ali should be brought to the Cabinet meeting, as the issue concerns public access to imported fruits. 'The revenue from fruit tax to the country is not that high. So if SST is imposed, the price will increase. 'I know the purpose (of imposing SST on imported fruits) is to protect local fruits but we do not produce apples and mandarin oranges. I am sure the Ministry of Finance and the Ministry of Economy are also looking into the matter,' he said. On June 9, the government announced a targeted SST review set to take effect from July 1, 2025. The sales tax rate will remain unchanged for essential goods, while a five or 10 per cent rate will be applied to non-essential or discretionary goods. The scope of service tax has also been expanded to cover six new categories: rental or leasing, construction, finance, private healthcare, education, and beauty. — Bernama
Malay Mail
a day ago
- Business
- Malay Mail
DPM Zahid: Govt to review SST on some imports including non-local fruits like apples, mandarin oranges
BANGI, June 19 — The government will review the implementation of the revised and expanded Sales and Services Tax (SST) on several selected imported goods, including fruits such as apples and mandarin oranges, Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi said today. He noted that the fruits are not produced locally but are fully imported, and therefore the tax should be reconsidered before imposing a rate of between five and 10 per cent. 'I believe it is reasonable for (the new SST rate on certain goods) to be reviewed and I think there will be an adjustment for certain materials to be categorised for tax at five to 10 per cent. '(But) don't take that conclusively,' he told reporters after officiating the Community Development Department (Kemas) Teachers' Day Celebration here. Earlier, Mydin Holdings Bhd managing director Datuk Ameer Ali Mydin Mohamed described the move to impose SST on imported fruit as unreasonable, saying it would also affect low-income consumers. Responding to this, Ahmad Zahid said the views raised by Ameer Ali should be brought to the Cabinet meeting, as the issue concerns public access to imported fruits. 'The revenue from fruit tax to the country is not that high. So if SST is imposed, the price will increase. 'I know the purpose (of imposing SST on imported fruits) is to protect local fruits but we do not produce apples and mandarin oranges. I am sure the Ministry of Finance and the Ministry of Economy are also looking into the matter,' he said. On June 9, the government announced a targeted SST review set to take effect from July 1, 2025. The sales tax rate will remain unchanged for essential goods, while a five or 10 per cent rate will be applied to non-essential or discretionary goods. The scope of service tax has also been expanded to cover six new categories: rental or leasing, construction, finance, private healthcare, education, and beauty. — Bernama
Yahoo
10-03-2025
- Business
- Yahoo
Mydin boss suggests millers of hoarding local rice, fuelling shortage
KUALA LUMPUR, March 10 — Rice millers appeared to be hoarding local white rice (BPT) to manipulate supply and are demanding cash payments from retailers in the wake of the resulting shortage, said Datuk Ameer Ali Mydin. Speaking as the president of the Bumiputera Retailers Association, the Mydin Holdings managing director questioned why BPT, which had been scarce for two years, suddenly became available after the government allocated RM150 million in subsidies. He said it was curious that supply could improve so quickly, and suggested millers were taking advantage of the ongoing shortage to gain leverage over retailers, forcing them to accept unfair payment terms. 'Millers are using their power to control supply, telling retailers they must pay cash upfront if they want local rice,' Ameer was quoted as saying in an Utusan Malaysia report. Previously, supermarkets could purchase rice on credit with a 30-day payment term, a practice that still applies to imported rice but has been revoked for BPT. Ameer argued that such cash-only demands disrupt operations, as supermarket chains require warehouse processing and multi-level approvals before making payments. The industry veteran accused millers of playing games, saying they are taking advantage of shortages to change business terms in their favour. He pointed out that suppliers are delivering only 50 to 100 bags per store per week, when supermarkets require at least 500 bags daily to meet customer demand. Ameer then urged the Ministry of Domestic Trade and Cost of Living (KPDN) to intervene by facilitating discussions between supermarkets and millers. Ameer suggested that KPDN should set clear supply quotas, ensuring each supermarket receives a fixed number of rice bags per month, rather than leaving distribution to millers' discretion.
