Latest news with #RM700
New Straits Times
16 hours ago
- Business
- New Straits Times
HLIB cuts Astro forecasts after weak Q1 results, maintains 'sell' at 13 sen
KUALA LUMPUR: Astro Malaysia Holdings Bhd is expected to face limited near-term catalysts amidst a challenging macroeconomic environment and ongoing structural shifts in the media industry, according to Hong Leong Investment Bank Bhd (HLIB). HLIB said Astro continues to grapple with mounting structural challenges, particularly due to cord-cutting trends and intensifying competition from over-the-top platforms. The firm noted that the recent launch of the rebranded "Astro One", which offers simplified and lower-priced bundles such as entertainment, sports, and epic packs starting at RM49.90, aims to improve affordability and value perception. "While this initiative may support subscriber acquisition, it has also led to average revenue per user dilution, which declined to RM98," HLIB said. HLIB highlighted that subscription revenue has historically contributed between 62 per cent and 77 per cent of group revenue. "As such, although the new pricing strategy may be tactically sound, it introduces near-term pressure on top-line performance and profitability. "Despite Astro's strong position in local content creation, advertising expenditure (adex) remains muted, and revenue headwinds continue to persist," it added. HLIB has maintained a "sell" rating on Astro, with a target price of 13 sen. The firm believes that Astro's earnings visibility remains clouded in light of persistent subscription decline with cord-cutting behaviour and softening adex. For the first quarter ended April 30, 2025, Astro recorded core profit after tax and minority interest of RM700,000, which only made up one per cent of HLIB's and consensus full-year forecasts. The negative deviation was due to lower revenue caused by a decline in advertising and subscription revenue. Meanwhile, year-on-year top-line was down by nine per cent on the back of the reduction in subscription and advertising revenue. Segment-wise, both TV and radio fell by eight per cent and 28 per cent respectively. The contraction in TV was due to lower subscription and advertising revenue, while radio was impacted by soft consumer sentiment leading to lower advertising spend. In view of the results shortfall, HLIB has cut its financial year 2025 (FY25) and FY26 forecasts by 51 per cent and 58 per cent respectively.
Daily Express
a day ago
- Health
- Daily Express
Melaka United ordered to pay nearly RM700,000 after player killed by lightning
Published on: Thursday, June 19, 2025 Published on: Thu, Jun 19, 2025 By: FMT Reporters Text Size: The Melaka High Court awarded AU$192,000 (RM528,000) for loss of dependency, RM120,000 for failure to insure the player, and RM50,000 in legal costs. (Facebook pic) PETALING JAYA: The High Court in Melaka has ordered the Melaka United Soccer Association (Musa) to pay nearly RM700,000 following the death of an 18-year-old Australian player who was struck by lightning nine years ago. Stefan Petrovski, an 18-year-old goalkeeper with Melaka United, was hit by lightning while training at the Hang Jebat Stadium on April 3, 2016. He died nearly a month later, on May 1, from brain damage caused by a lack of oxygen. Advertisement His father, Marco Petrovski, sued Musa and 15 of its officials for negligence and failing to provide a safe environment for his son. The family claimed that no automated external defibrillators (AED) were available during training, no doctor was present at the session, and training was not stopped despite rain increasing the risk of lightning. They also said Musa failed to take out a personal accident insurance policy as required by the player's contract. Justice Radzi Abdul Hamid ruled that Musa was negligent and had a duty of care to protect Petrovski as a professional player. The court awarded AU$192,000 (RM528,000) for loss of dependency, RM120,000 for failure to insure the player, and RM50,000 in legal costs. The judge rejected Musa's defence that a panel doctor did not have to be present at training sessions, stating that Football Association of Malaysia (FAM) rules required at least one doctor to be available during both matches and training. 'The defendants contended that under FAM regulations, a doctor does not need to be at the training session,' said Radzi. 'This court disagreed with the defendants' contention… It makes no sense to appoint the doctor who is absent and must be called to the location in the event of a medical emergency. 'The defendants also failed to adequately train their staff to use AED, as well as to respond to cardiac related emergencies, which contributed to Petrovski's death.' The court also ruled that the association had breached their contractual obligations with Petrovski after it failed to insure him. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Star
4 days ago
- Business
- The Star
It's an unkind cut, say hairdressers
Our services are a necessity and not a luxury, claim industry players PETALING JAYA: Hairdressing and salon industry players have appealed to the government to reconsider imposing the expanded 8% Sales and Service Tax (SST) on their services, which they deem a necessity and not a luxury. United Asian Hairdressers Association (UAHA) president Dr Michael Poh said hairdressing remains a basic need and personal hygiene-related service for many, including those seeking to treat scalp problems. ALSO READ: Hairdressers in the dark over expanded SST rules 'Taxing hairdressing as though it is a luxury service is not only inappropriate, but also unfairly affects both operators and consumers. 'We kindly urge the government to reconsider and exempt hairdressing services to protect this fragile yet essential industry, and prevent further financial strain on micro-entrepreneurs as well as the people they serve. 'Placing it under the same tax category as other luxury or high-margin services does not reflect the economic realities faced by most in our sector,' he told The Star. Poh said a letter by UAHA and other industry players was sent to Prime Minister Datuk Seri Anwar Ibrahim and the Finance Ministry on June 12 to express their concern regarding the imposition of the 8% tax. The stakeholders include the Malaysian Hairdressing Association, Bumiputera Hairdressers Association, Malaysian Indian Hairstylist Empowerment Association, Persatuan Kemahiran Wanita Selangor and Branding Association of Malaysia. The Federation of Malaysian Business Associations has also come up with a petition form for its stakeholders appealing to Finance Minister II Datuk Seri Amir Hamzah Azizan for the postponement and reconsideration of the SST expansion. According to the Finance Ministry, effective July 1, an 8% SST will be applied to all hairdressing services, which are deemed non-essential services, for businesses with an annual value exceeding RM500,000. This includes services provided by salons and hairdressers, but not the sale of hair products. Poh said that given the current situation for financially-strained businesses operating in malls with high rentals, periodic renovations and overhead costs, their average turnover ranges between RM650,000 and RM700,000, which is barely enough to break even. 'In the long run, those operating in shopping malls will have to close down because they are not friendly to the beauty industry. This is an important thing that must be considered. 'If they (the government) want to tax, then use the Goods and Service Tax (GST) of 3% or 6%, which is easier for us, or reduce (the SST) from 8% to 3% so that we can ensure our survival,' he said. Syiling Unisex Hair Salon owner Mogana Chinnathamby said smaller local barbers or salon owners with revenues below the threshold can continue without SST, but many salons in malls or premium areas typically exceed that limit and have started adjusting prices. 'As a responsible salon operator, we fully support tax transparency and compliance. 'If our revenue meets the threshold, we will implement the SST accordingly and ensure that it is clearly communicated to our customers with no hidden or unexpected charges. 'But the majority of customers may reduce frequency from monthly to every two months to cope with the rising costs, and I believe there will be some initial pushback too from customers,' said Mogana, who is also Kuala Lumpur and Selangor Indian Chamber of Commerce and Industry Honorary secretary-general. She hopes the authorities will continue engaging with industry players to review classifications that affect essential services like haircuts, especially in the interest of affordability for the public. Malaysian Indian Hair Dressing Saloon Owners Association honorary secretary-general Jeyakumar Manokaran said they will be meeting with their members to discuss the implementation of the SST. He acknowledged that the 8% SST will eventually be passed on to consumers. 'But we have to bear in mind that they are already being burdened by a lot of other increases in cost of living. 'So, we have to see whether they can eventually afford it. 'The other matter is that the Indian barbers and salons are mostly frequented by the B40 group,' he noted. As such, he hopes the government will reconsider imposing the SST expansion.
Rakyat Post
13-06-2025
- Business
- Rakyat Post
RM700 Tax Shock: Malaysian Shopper's Japan Haul Meets KLIA2 Customs Crackdown
Subscribe to our FREE A Malaysian traveller's dream shopping trip to Japan hit an unexpected snag when customs officers at KLIA2 presented him with a RM700 tax bill, turning his carefully planned purchases into a costly lesson about duty regulations. The shopper, who had carefully selected a G-Shock watch, toys, handbags, and shoes during his Japanese adventure, discovered the hard way that Malaysia's 10% customs tax can completely obliterate any savings from Japan's tourist-friendly tax-free shopping. What started as a celebration of smart international shopping ended with a customs receipt that he shared in a popular Facebook group for Malaysians travelling to Japan. A price tag showing a Sony professional lens costing ¥1,681,900 (RM49,659) at a Japanese electronics retailer in Tokyo– where tax-free shopping combined with store loyalty programs can offer savings up to 17%, explaining the attractiveness of electronics shopping in Japan for Malaysians, though such high-value purchases can trigger unexpected customs duties back home. (Pix: Fernando Fong) 'Harga beli jadi normal balik' (The purchase prices became normal again), the traveller lamented, capturing the cruel mathematics of international shopping: save 10% in Japan, pay 10% in Malaysia, and watch your 'bargains' evaporate faster than your vacation tan. The receipt shows the cold, hard reality of Malaysia's customs enforcement when they decide to pay attention. This wasn't some minor 'oops, forgot to declare' moment – this was a full-scale customs audit that turned a vacation memory into a financial reversal. Staggering Inconsistency? What makes this story particularly maddening is the perceived randomness of Malaysian customs enforcement. While this unlucky shopper faced a four-figure tax bill, other travellers share stories of sailing through customs completely undetected with similar or even larger hauls. The traveller community's experiences read like a bizarre lottery system. Some claimed they returned from Japan with bulging suitcases and faced zero scrutiny. Most major brand-name shops in Japan, including popular retailers such as Uniqlo, offer tax-free shopping for tourists. Unlike other countries where tourists must claim refunds at airports, Japan's tax exemption is applied instantly at checkout – no queues, no paperwork, just immediate savings. However, the Japanese government has announced they're reviewing this system due to compliance issues, potentially ending this shopper's paradise. (Pix: Fernando Fong) Others get interrogated about every purchase, with customs officers asking direct questions like 'How many pairs of shoes did you buy?' – the kind of specific questioning that suggests they already know the answer. One traveller described buying an entire suitcase full of Another sailed through customs with bags full of dates and religious items from Umrah, completely unquestioned. Some travellers claim customs officers are more alert when flights arrive from destinations known for shopping tourism – Japan and Korea seem to attract closer scrutiny than business or pilgrimage destinations. A Tokyo Disneyland shopping bag loaded with purchases – even though Tokyo Disneyland has no tax-free shopping, it didn't stop people from buying souvenirs and merchandise during their visit. (Fernando Fong) The Underground Economy of Customs Avoidance The RM700 shock has reinforced the traveller community's commitment to customs-dodging strategies. Remove price tags. Ditch retail boxes. Transfer purchases to inconspicuous bags. Wear new items instead of packing them. Some even suggest the timing game – certain hours supposedly have more relaxed enforcement. But the moral complexity is real. While some view these tactics as necessary survival skills in an unpredictable system, others see tax avoidance as unpatriotic. One commenter bluntly labelled tip-sharers as 'traitors to the nation' – strong words for what many consider legitimate self-defence against inconsistent enforcement. Crowds at a traffic light junction in Shibuya – Shibuya is a renowned shopping district in Tokyo, offering a diverse range of retail experiences. Popular spots include Shibuya 109, Shibuya Hikarie, and Shibuya Parco. (Pix: Fernando Fong) The Official Rules vs. RM700 Reality New footwear is limited to one pair, and clothing is limited to three pieces. These limits seem designed for a different era, when international travel was much less common and people bought very different things abroad. The RM700 bill indicates purchases totalling around RM7,000 – substantial but not extravagant. However, the supposed lack of consistent enforcement means that some people get away with similar purchases, while others face financial devastation. The Customs Reality Check Every Malaysian Traveller Needs Beyond the immediate financial shock, there's the psychological impact of facing such an unexpected bill. Imagine the sinking feeling of being presented with a RM700 customs demand after what you thought was a successful shopping trip. The stress of trying to calculate whether you can afford it, the embarrassment of the public customs encounter, and the realisation that your 'bargains' just evaporated. This kind of experience doesn't just affect your wallet – it changes how you travel, especially to Japan, a popular destination for Malaysians. This traveller's experience will likely be shared in Malaysian travel groups for years to come, serving as a cautionary tale about the hidden costs of overseas shopping, granted he is hardly the first, and there have been many more in the past. The message is clear: that duty-free shopping in Japan isn't really duty-free – it's just tax-deferred until you meet the wrong customs officer on the wrong day. For Malaysian travellers, the lesson is brutal but necessary: budget for the worst-case scenario, because your shopping trip might end with a tax bill that costs more than your vacation. Shimonada Station, located in Futami-cho, Iyo City, Ehime Prefecture, Japan, is a popular unmanned station on the JR Yosan Line known for its stunning views of the Seto Inland Sea – to remind you that you don't always have to buy things to make the most of your Japan trip. (Pix: Fernando Fong) READ MORE : READ MORE : Disclaimer: This article documents traveller experiences shared on social media and does not suggest customs inefficiency or encourage tax avoidance. Always comply with customs regulations and declare purchases to the best of your knowledge. Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
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Daily Express
11-06-2025
- Business
- Daily Express
Graft: Ex-Sabah Ports and Harbour Department's boss fined
Published on: Wednesday, June 11, 2025 Published on: Wed, Jun 11, 2025 By: Cynthia D Baga Text Size: The charges stated that, while serving as JPDS director, Abel had accepted bribes ranging between RM33,098.62 and RM59,724.30 from two companies connected to his official duties between 2017 and 2018. Kota Kinabalu: A Former Sabah Ports and Harbour Department (JPDS) director was fined a total of RM700,000 for 15 counts of bribery involving towing services. Session Court judge Jason Juga meted out the sentence to Abel Ongkunik, 52, when the case was brought up for facts and sentencing as he had pleaded guilty to the 15 alternative charges on March 14 this year. Advertisement The alternative charges were offered by the prosecution following the acceptance of Abel's representation letter and the total amount involved in the 15 charges was RM632,296.03. The court had imposed the fines ranging from RM38,000 to RM58,000 for each charge and it was learnt that Abel had paid the RM700,000 fines. The charges stated that, while serving as JPDS director, Abel had accepted bribes ranging between RM33,098.62 and RM59,724.30 from two companies connected to his official duties between 2017 and 2018. The money was deposited into the accounts of three companies at several bank branches in Kota Kinabalu, Lido and Kota Belud. The offences were related to granting permission to a company for towing services in the Kimanis port limit area and approving towing work licences for another company. The alternatives charges fall under Section 165 of the Penal Code, which provides for imprisonment of up to two years or a fine, or both, upon conviction. The court heard that Abel had the authority to grant approvals for towing services provided by JPDS. He met with the owners of the two companies and arranged for the approvals to be granted by JPDS to both companies for providing towing services. Investigations also revealed that Abel received money from the company owners, with funds transferred from the accounts of both companies into the accounts of three other companies. The accounts and financial dealings of these three companies were under Abel's control. In mitigation, counsel Dominic Chew who represented Abel, requested the court to impose a fine between RM650,000 and RM690,000 for all 15 charges. Chew informed the court that Abel, who has three children, is the sole breadwinner of the family and that it was his first offence. 'In addition, our client has expressed genuine remorse and wished to move forward with his life through his new employment in Terengganu, while providing for his family through lawful means,' he said. However, Malaysian Anti-Corruption Commission (MACC) Deputy Public Prosecutor Nurul Izzati Sapifee proposed at least RM50,000 fine per charge, taking into account the facts of the case, serving public interest and acting as a deterrent to potential offenders. She said Abel, as a director in JPDS at the material time, held the highest position in the department. As such, he should have upheld a high moral standard when dealing with businesses involving JPDS, and in maintaining the image of the public service in the eyes of the public. 'The fact that when he performed such offence, he as a public officer holding the highest position in JPDS, might as well prevent other companies from being granted the same permit for work from JPDS. 'As a director also he should not have personal side dealings with any person or company which are known to him being connected to his official duty,' she said. Abel was originally facing 29 charges involving RM1.29 million of bribes under Section 17 (a) of the MACC Act 2009 which is punishable under Section 24 (1) of the same act. He claimed trial to the charges on March 15, 2022. The 15 original charges were withdrawn, while the remaining 14 main charges were taken into consideration by the court in accordance with Section 171A of the Criminal Procedure Code. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
