The High-Value Goods Tax (HVGT), originally planned for May 2024, has been placed on hold indefinitely. While the Ministry of Finance has yet to finalise details, there’s still a chance the tax could make an appearance in Budget 2025, as noted in the latest market strategy report by RHB Investment Bank. The proposal, which would impose a 5 to 10 percent tax on luxury items, has been a topic of concern, particularly in the automotive sector. Vehicles priced above RM 200,000 are expected to fall u

Shaun

Sep 26, 2024

The 2025 Toyota GR Corolla facelift has gone on sale in the US. It’s got a little bit of everything – power, upgrades, and, of course, a price hike. The base Core trim with a 6-speed manual transmission starts at USD 39,995 (around RM 165k), marking a USD 2,360 increase over the outgoing model – a 6% jump. If you’re the kind who prefers an automatic transmission, you’ll have to shell out an extra USD 2,000 for Toyota's new eight-speed automatic, bringing the total to USD 41,995 (around RM 173k).

Shaun

Sep 26, 2024

Prime Minister Anwar Ibrahim, who also serves as Finance Minister, will be tabling Budget 2025 on October 18. Four months after cutting back on subsidies for diesel, the government is expected to do the same for RON 95 petrol, but analysts are divided on whether the subject will be addressed in Budget 2025’s tabling. RHB Investment Bank’s Energy sector (oil & gas, utilities) analyst Sean Lim said in the investment bank’s research note, “We believe there is a possibility that the RON 95 subsidy r

Hans

Sep 26, 2024

Fuel price movements in Malaysia from 26-Sept to 2-Oct 2024 are as below, following a 6 sen drop in RON 97 fuel: Fuel Price Update 26-Sept to 2-Oct 2024 RON 95 RM 2.05 RON 97 RM 3.19 RON 100 RM 5.00 Shell V-Power RM 6.30 Diesel EURO 5 B10 RM 3.01 Diesel EURO 5 B7 RM 3.21 Follow fuel price live updates: Petrol Price Malaysia

Sanjay

Sep 25, 2024

Bloomberg reports that Geely Auto is set to assemble vehicles in Vietnam, with a USD 170 million (around RM 700 million) plan to build an assembly plant and expand local production. Partnering with Hanoi-based Tasco Joint Stock Company, Geely’s new facility will be able to crank out up to 75,000 cars a year, as confirmed by a company statement. Of the total investment, Geely’s contributing 36%, with the rest of the cash coming from Tasco. That means Geely will shell out around USD 60 million (ar

Shaun

Sep 25, 2024