Latest news with #RM1.5mil
The Star
5 days ago
- Business
- The Star
Counterfeit luxury goods worth RM400,000 seized in KL
Sabri (left) said the syndicate has been operating for about two months, and also took orders from Sabah and Sarawak. – BERNAMApic KUALA LUMPUR: The Domestic Trade and Cost of Living Ministry has seized more than 15,000 pairs of counterfeit goods worth RM400,000 at a wholesale complex near Jalan Tunku Abdul Rahman here. Its Kuala Lumpur director Mohd Sabri Seman said the seizure followed a two-week investigation involving eight storage units and two showrooms used for wholesale operations to retailers nationwide. "For slippers, the syndicate involved would buy them for as low as RM4 and sell them to retailers for RM20 to RM30. "For shoes, they would buy them for as little as RM20 and sell them for RM100 to RM120,' he told a press conference here on Wednesday (June 18). He said a Malaysian man in his early 20s working at the premises was detained to assist in the investigation. According to Sabri, the syndicate is believed to have been operating for the past two months and also took orders from Sabah and Sarawak. The case is being investigated under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. So far this year, he said, the ministry has opened 64 cases in Kuala Lumpur involving intellectual property under Ops Jeriji 6.0. It has seized 30,100 units of goods worth RM1.5mil and arrested 10 suspects under the operation. "We will continue to intensify enforcement activities on intellectual property, including the Trademark Act 2019, the Trade Descriptions Act 2011 and the Copyright Act 1987, to combat the sale of counterfeit goods,' he said. Sabri also advised consumers not to support sellers of counterfeit goods and said traders who violate the law risk severe penalties. – Bernama
The Star
12-06-2025
- Business
- The Star
Developers' operational costs expected to rise
Maybank IB said the SST on construction services from July 1, 2025 will add pressure to property developers' margins for ongoing (sold) projects. PETALING JAYA: Property developers' operational costs could rise following the government's move to impose a 6% sales and service tax (SST) on construction services. Effective July 1, 2025, construction services for infrastructure, commercial and industrial buildings will be subject to a 6% service tax if the taxable value exceeds RM1.5mil annually. However, exemptions are provided for residential buildings, public utilities related to housing, and non-reviewable contracts, which will enjoy a 12-month grace period from the effective date. Additionally, business-to-business (B2B) relief will be available to prevent double taxation. According to Maybank Investment Bank Research, the SST on construction services from July 1, 2025 will add pressure to property developers' margins for ongoing (sold) projects, as they might have to absorb the additional cost for commercial and industrial builds. It pointed out that there is currently no guideline on how it applies to contracts entered into before July 1 but billed thereafter, or whether it is only applicable to new contracts signed after the SST implementation date. 'As most contracts incorporate a regulatory change review clause, developers are expected to bear this SST, rather than contractors,' the research house said. It believes that developers are likely to pass on these additional costs to buyers (those unsold stock and future projects) to avoid margin erosion stemming from rising construction costs. However, a slower economic growth trajectory and weak market demand could constrain pricing power. 'Developers engaged in data centre (DC) construction, including Eco World Development Group Bhd (EcoWorld Malaysia) and Sime Darby Property Bhd (SimeProp), could also see increased expenditure, potentially reducing their internal rate of return,' it said. Maybank IB estimates a four-sen reduction in EcoWorld Malaysia and SimeProp's revised net asset value or RNAV estimates due to the 6% additional costs associated with their DC constructions. The research house added that with a strategic emphasis on generating recurring income from investment properties in recent years, such as malls, the 8% SST on rental income would be borne by tenants, which could restrain developers' leverage for rental increment negotiations. 'We maintain our earnings forecasts, pending clarity. Maintain 'neutral' on the property sector. 'Our buys are Eco World International Bhd , S P Setia Bhd and EcoWorld Malaysia,' it said. The research house highlighted risks to its calls including weaker-than-expected property sales dragged by weaker economic outlook, policy risks, stricter lending measures by the banks, higher-than-expected liquidated ascertained damages compensation following the latest ruling by the Federal Court, and rising building material costs and labour issues.
The Star
12-06-2025
- Business
- The Star
MCA leaders warn of risks in SST expansion
GEORGE TOWN: The Federal Government risks triggering widespread contract disputes and burdening consumers with cascading costs if it proceeds with plans to expand the Sales and Services Tax (SST) from July 1, say two Penang MCA leaders. Penang MCA secretary Yeoh Chin Kah warned that many construction contracts were signed before the policy was announced, lacking clauses to account for the additional 6% tax. "Without clear guidelines, disputes are inevitable. Some projects may even stall. The consequences could be disastrous," he said on Friday (June 13). He said applying SST to the construction sector would further strain an industry already grappling with rising material costs and labour shortages, potentially derailing national recovery efforts. Yeoh urged the government to reconsider the timeline and proposed that SST only apply to the service portion of construction contracts. Materials and equipment, he said, should be exempted. "The sector runs on thin margins. Sudden tax changes mid-contract will destabilise the entire ecosystem," he said. He also criticised the RM1.5mil annual revenue threshold as unfair to small contractors who handle low-value jobs but may cross the mark cumulatively. "Tax should be based on individual contract value. This is about fairness and survival for SMEs," Yeoh added. He said non-profit organisations, including schools, hospitals, and temples, should receive the same SST exemptions as residential projects, warning that extra tax burdens would harm public welfare. Penang MCA Election Preparation & Scrutiny Committee vice-chairman Chan Wooi Jin echoed these concerns, saying the SST expansion will not only impact industries but also raise the cost of daily essentials for ordinary Malaysians. "Essential items like apples, oranges, and lemons are not luxuries. For many families, they are a daily source of nutrition. Taxing them is unfair," he said. He noted that unlike the previous GST system, SST lacks an input tax credit mechanism and may result in multiple layers of taxation passed down to consumers. "Any tax reform must be transparent, people-centric, and able to distinguish between basic needs and luxuries. The rakyat shouldn't have to pay for fiscal missteps," Chan said. Both leaders called on the government to engage with stakeholders and ensure policies are grounded in economic realities, not rushed decisions that threaten livelihoods and public trust.
The Star
10-06-2025
- Health
- The Star
Eight-year-old Harsheetaa has died, says grieving father
KUALA LUMPUR: Eight-year-old S. Harsheetaa Sai, who had heart surgery in the United States, has passed away due to multiple organ failure and sepsis, says her father R. Selva Ganapathy. Harsheetaa, had been battling heterotaxy since birth. She had been receiving treatment at Boston Children's Hospital, a leading medical centre in Massachusetts, since April 2025. "Our hearts are heavy beyond words. Our brave little angel, Harsheetaa, who fought with all her strength, has now found peace in a place beyond pain and struggle. "She took her final breath at 1.10am yesterday at Boston Children's Hospital. After putting up a courageous fight for days, her little body could no longer bear the pain," said her father in a statement. Selva Ganapathy said Harsheetaa was surrounded by love, prayers and the deepest care, adding that details of final rites would be announced later. Meanwhile, political secretary to the prime minister Datuk Ahmad Farhan Fauzi extended condolences to the family on Instagram. He said that Prime Minister Datuk Seri Anwar Ibrahim had given financial assistance to Harsheetaa's family, which he personally delivered during a visit to their home in Batu Caves, Selangor, on March 20. Heterotaxy is a rare congenital disorder in which internal organs develop in abnormal positions due to improper left-right patterning during fetal development. It commonly affects the heart, lungs, liver, spleen, and intestines, often leading to severe complications. Previously, Selva Ganapathy had expressed gratitude to Malaysians for raising RM1.5mil to fund his daughter's heart surgery. – Bernama
The Star
06-06-2025
- Business
- The Star
Asean News Headlines as at 10pm on Friday (June 6, 2025)
Malaysia: * Engineer loses over RM1.5mil to online investment scam * Anwar expresses hope for Pakistan and India to find peaceful solution * Hadi hints he may step down as PAS president * US judge again halts ban on foreign students at Harvard * PETRONAS job cuts mainly affect contract workers, says Anwar * Malaysia reaffirms commitment to disaster-resilient education through national policy - Ahmad Zahid * FRU crash tragedy: JPJ opens investigation paper on lorry company * E-invoicing deadlines for businesses with revenue below RM5mil revised, says LHDN * S'wak keen on global partnerships in its bid to become a clean energy leader * Abim condemns US veto of UN Security Council's call for Gaza ceasefire * No foul play in death of man hit by LRT train in Puchong, say police * Police complete recording actor-cum-singer's statement over alleged sexual assault * High-rise tragedies show a systemic failure to ensure child safety, says children's commissioner Singapore: * Former senior minister Teo Chee Hean to be next Temasek chairman, taking over from Lim Boon Heng * Four charged over suspected involvement in 'blessing' scams * S$6,000 fine for man who falsely claimed Singapore minister made offensive remarks against Malays * Growing Temasek: Lim Boon Heng's contributions as chairman over the years * S$6k fine for man who falsely claimed Singapore minister made offensive remarks against Malays * Over 200 people investigated for suspected roles in scams in Singapore involving more than RM19.20mil in losses * Queues at VEP application centres in Singapore, JB after news of enforcement from July 1 * Ex-Singapore transport minister S. Iswaran completes home detention scheme, no longer under prison custody * Barge grounded off Tanjong Beach in Singapore's Sentosa, no reports of damage, injuries or pollution: MPA * Hong Kong branch of Singaporean 1880 club in liquidation with HK$20 million debt * Singapore can leverage on its trust premium * Asian equities see largest monthly foreign inflow in 15 months * Oil prices headed for rebound this week as US-China trade talks resume Indonesia: * Joyful aidiladha celebrations in Indonesia, communal spirit at embassy deepens brotherhood * Indonesia may install permanent stairlift at Borobudur Temple: Minister * Economic hardships subdue the mood for Eid al-Adha (Hari Raya Haji) in Indonesia this year * Indonesian legendary band Sheila on 7 returns to Malaysian for Latihan Pestapora super concert now at Bukit Jalil * Indonesian diva and pop princess Bunga Citra Lestari all set to bring her love tunes to KLCC on sept 27 * Indonesia wealth fund considers stake in Grab-GoTo deal, Bloomberg News reports * Badminton -- Superb comeback as Tang Jie-Ee Wei reach Indonesian Open semis * Woman thrives in cattle trading dominated by men Thailand: * Thailand conducts evacuation drills in seven border provinces amid tensions with Cambodia * Thai Airways shuts down Thai Smile after 12 years of losses * Thailand to begin trade talks with US — high-level negotiations underway * Thailand inflation remains negative in May; government cuts 2025 forecast * Asean remains a credible partner on global stage, says Thai minister * Thai military prepared for 'high-level operation' if Cambodia border row escalates * Thailand urges positive engagement after Cambodia threatens to take dispute to World Court * M'sia, Thailand tackle flood risks - Countries agree on early warning plan to enhance disaster response Filipino Muslims preparing butchered goats during the celebration of Eid Al-Adha at the Blue Mosque in Taguig, Metro Manila on June 6, 2025. - AFP Philippines: * Holding Sara Duterte trial isn't a choice, it's our constitutional duty, says senator * US military's logistics drill aims to burnish its East Asia crisis response * Philippines' jobless rate rises to 4.1 per cent in April * Filipino actress Michelle Dee bitten in the face by pet dog * Philippines: Sara questions impeachment trial Vietnam: * Cannes-winning film to compete at Danang Asian Film Festival 2025 * US Indo-Pacific commander calls PLA moves in strait 'rehearsals', not exercises * Vietnamese say no to more kids even after two-child limit scrapped; many prefer small family * Tariff War - Washington, Hanoi to fast-track trade negotiations * Vietnam's Vingroup seeks loan to buy KKR's Vinschool stake/ Foreign investment surges in five months Myanmar: * Six-year-old girl among Myanmar group arrested for killing retired general * 75 years of China-Myanmar ties commemorated in Myanmar with emphasis on bilateral cooperation, support Cambodia: * Cambodian troops deploy 12,000 soldiers near Chong Bok border: Source * Cambodia rejects Thai request for withdrawal of border forces * Cambodia's bold pledge to eliminate plastic pollution * Chinese and South-East Asian experts led by Cambodia share dolphin conservation strategies Laos: * Lao PM calls for united efforts to protect the environment * Laos takes steps to enhance irrigation development Brunei: * Malaysia, Brunei boost disaster, security cooperation * Brunei celebrates World Environment Day and its youth leadership * Brunei launches environment platform for youth AseanPlus: * Hong Kong tracks system that may develop into first 2025 typhoon * Japan curry shops see record bankruptcies as rice prices soar * Australian bouncy castle operator cleared over accident that killed six children * Hong Kong activist Joshua Wong charged under Beijing-imposed security law for second time * Australian cities offer free public transport to fill empty seats, ease cost of living pain * US visa hurdles put international students on edge * Japan allows longer nuclear plant lifespans * 'Elon Musk is not the father of my kids': J-pop diva Ayumi Hamasaki sets the record straight * India vows to keep up development in Kashmir after tourist attack * OECD: America emerges as biggest loser in Trump's trade war * Nepal ex-PM faces graft charge over land deal with Indian yoga guru's firm * Chinese tourist drowns at Pulau Perhentian * Over 70 delegates expected for Asean council meeting on drug menace next week in KL * Local actress Saidah Kamarudin cancels wedding, claims ex has only RM500 in his bank account * Trump says call with Xi produced 'very positive conclusion' * 14 emergency cardiac procedures in Saudi Haj hospital unit * Private lunar lander close to touchdown on moon's far north Models of the lunar lander Resilience (centre, left) and the lunar rover Tenacious (centre, right) operated by Japanese private company ispace are displayed at the Moon landing event venue in Tokyo on June 6, 2025. - AFP * Japan space ambitions dealt another blow after Ispace moon landing fails * Trump and Musk's relationship flames out just as intensely * From bros to foes: how the unlikely Trump-Musk relationship imploded * China's scientists unlock secrets of how early birds conquered the skies and publicly as it started * 'Treated like a criminal': Fury over Hong Kong student's Australian deportation * Harvard speech sparks China debate on elite education access, privilege * Tech giants' indirect emissions rose 150% in three years as AI expands, UN agency says * China's first foreign-owned hospital seeks medical tourists * More leave to address declining birth rates in China * Japan curry shops see record bankruptcies as rice prices soar * Indian police arrest four people for cricket fans stampede * South Korean conservatives looking for rebirth after election loss * Google's new AI-powered search has arrived. Proceed with caution * Is Labubu the next Hello Kitty? Analysts debate Pop Mart's limits * Burning ship abandoned in Pacific carried several Chinese car brands * Hong Kong bank robbery suspect's 'illogical' target sparks online debate * Taiwan's Pegatron says it is in final stage of evaluating US factory plan * 'Man mums' in China sell five-minute hugs for US$7, gain popularity among lonely women * Olympics - US travel ban will not hinder Los Angeles Olympics, LA28 CEO says * Soccer - Japan's Moriyasu mourns end of unbeaten run after loss to Australia * Ex-US envoy to China warns of Beijing involvement in Ukraine-Russia talks * Australian accused in mushroom murders searched for deadly strain before deaths, court hears * Another forced break as Tze Yong goes for knee surgery but he's staying positive * Tennis - Laser-focused Gauff ends Boisson's dream run to reach French Open final * Tennis - Finally conquering Paris clay would mean the world to me, says Sabalenka
