SHEDA Kuching chief: Tax hikes raise concerns about economic growth
KUCHING: The increase in service tax from 6 percent to 8 percent is expected to raise prices and may have a dampening effect on domestic economic growth, according to Datuk Sim Kiang Chiok. “The luxury tax, ranging from 5 percent to 10 percent, affects local residents only and could slow down the demand for luxury […]
Budget 2024 signals federal govt commitment to equitable growth and development, says Fadillah
KUCHING: The tabling of the Budget 2024 underscores the federal government’s dedication to fostering economic growth and upholding the principles of the Malaysia Madani concept of equitably distributing benefits across all segments of society. Deputy Prime Minister cum Plantation and Commodities (KPK) minister Datuk Seri Fadillah Yusof said he welcomes the tabling of the Budget […]
A gathering of colours
A Peranakan Festival was recently held in a mall in Kuala Lumpur. A stunning fashion show took place alongside the exchanging of many anecdotes and establishing of new connections among the attendees. Celebrating the Peranakan culture A group of Sarawakians recently participated in a Peranakan Festival held in a luxury mall near KLCC in Kuala […]
Minister stresses property valuers’ key role in the economy
KUCHING: Property valuers play a pivotal role in ensuring sustainable economic growth particularly in the Asean region, including guiding and educating buyers and prospective property owners to obtain key information. Deputy Finance Minister Datuk Seri Ahmad Maslan said by carrying out duties professionally and upholding ethics, the market value of transacted property can be translated […]
IMF recommends three steps for Asean to survive economic challenges
JAKARTA: The International Monetary Fund (IMF) has recommended three main steps for Asean member countries to survive through the current difficult economic challenges, including inflationary pressures and liquidity tightening, reported ANTARA news agency. IMF managing director Kristalina Georgieva said that Asean countries were quite affected by the global pandemic of Covid-19, especially in terms of […]
Yili sets new records in Asia’s dairy industry with growth in net profit, operating revenue
KUALA LUMPUR: Yili Group net profit for the first half of the year (2023 H1) grew by 2.85 per cent to 6.314 billion Chinese yuan, setting new records in the dairy industry of Asia. Its total operating income increased by 4.31 per cent year on year to 66.197 billion Chinese yuan. This is according […]
Addressing poverty and wealth inequality: analysis and strategies
“Examining the wealth gap, poverty measurement, and policy reforms towards prosperity” WHILE Sarawak boasts of being a resource-rich state and has utilised this advantage to promote economic growth, a significant issue that persists is poverty itself. According to a 2019 survey conducted by the Department of Statistics Malaysia (DOSM), several districts in the state rank […]
Sarawak govt’s commitment to rural development and infrastructure projects
KAPIT: Deputy Premier Datuk Amar Awang Tengah Ali Hasan has reiterated the Sarawak government’s unwavering commitment to empower rural areas and boost economic activities. He highlighted the ongoing and continuous development of essential infrastructure, including electricity, water and roads throughout the region. “The government has approved various infrastructure projects, such as upgrading coastal roads, implementing […]
Sarawak sets for a record-breaking economic growth
Sarawak’s gross domestic product (GDP) increased by 6.5 per cent in 2022, with an economic value of RM140.2 billion, despite the global economic uncertainty in the post-COVID-19 era. With the return of domestic and international tourism, the services sector expanded by 9.6 per cent, led by utilities, transport, wholesale and retail trade, accommodation, and food […]
Sarawak emerges as country’s major economic force
SIBU: In 2022, Sarawak demonstrated its economic prowess as it solidified its position as the third-largest contributor to Malaysia’s Gross Domestic Product (GDP), marking a momentous achievement for the state on its 60th independence anniversary. Batang Sadong MP Rodiyah Sapiee highlighted that the state’s remarkable 9.5 per cent share of the nation’s economic output was […]
