The Federation of Malaysian Manufacturers (FMM) has urged the government to delay by two years its plan to implement mandatory Employees Provident Fund (EPF) coverage for foreign workers in the country, to allow sufficient time for stakeholder consultations.

FMM wants govt to delay mandatory EPF coverage for foreign workers

The Budget 2025 announced last Friday (Oct 18) has highlighted efforts to strengthen the Madani Economy framework; however, it does not provide the necessary boost required by the oil and gas services and equipment (OGSE) sector, said the Malaysian Oil, Gas and Energy Services Council (MOGSC).

MOGSC sees lack of support for O&G sector in Budget 2025, seeks more tangible support measures

While the newly announced Budget 2025 is not a “property budget”, property consultants applaud the introduction of tax relief for housing loan interest payments up to RM7,000, which is expected to encourage first-time homeownership.

In the Budget 2025 tabled last Friday, the government announced individual tax relief for housing loan interest payments to encourage first-home ownership. Tax relief of as much as RM7,000 will be provided for homes worth up to RM500,000, while tax relief of up to RM5,000 will be provided for houses priced between RM500,000 and RM750,000.

Consultants see tax relief for housing loans supporting first-time buyers amid limited property measures in Budget 2025

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Full Budget 2025 speech

KUALA LUMPUR (Oct 19): The upward adjustment to the windfall profit levy (WPL) threshold for crude palm oil (CPO) announced in Budget 2025 “does not address the financial burdens” posed by the mechanism, the Malaysian Palm Oil Association (MPOA) said.

Upwards adjustment to palm oil windfall profit levy threshold not sufficient, says MPOA

KUALA LUMPUR (Oct 19): Malaysia’s smaller budget deficit for 2025 reflects the government’s continued commitment to gradual fiscal consolidation, S&P Global Ratings said on Saturday.

Malaysia’s smaller budget deficit reflects govt’s commitment to gradual consolidation — S&P

Tax leaders at the Big Four accounting firms and other tax experts said measures proposed under Budget 2025 would dovetail with the government’s fiscal consolidation plan though more clarity is required.

Big Four, tax experts say Budget 2025 measures fit into fiscal consolidation goal

Bank Negara Malaysia (BNM) said it will provide micro, small and medium enterprises (MSMEs) with affordable and holistic financing with a fund size of RM3.8 billion.

Speaking on its initiatives under Budget 2025, the central bank said the RM3.8 billion will go towards supporting MSMEs' move towards digitalisation and automation, embracing sustainable and low carbon practices, and agrofood production.

BNM to support MSMEs with RM3.8 bil in holistic financing

Malaysian banks have expressed support for Budget 2025, which aims towards fostering sustainable and inclusive economic growth.

Malaysian banks laud Budget 2025 for promoting sustainable, inclusive economic growth

Malaysia’s Budget 2025 sees more small steps being taken towards supporting the ordinary Malaysians folks, particularly the low-income groups. The government is riding the positive economic growth enjoyed this year, introducing more measures to redirect wealth to the needy.

More, but not bold, steps towards reform as Budget 2025 unveiled

The government has extended the exemption from individual income tax for foreign-sourced income for 10 years until Dec 31, 2036, as part of a slew of income tax exemptions and reliefs for individuals, Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim announced in his Budget 2025 speech on Friday.

Govt extends individual income tax exemption for foreign-sourced income for another 10 years, plus other tax reliefs

The Federation of Malaysian Manufacturers (FMM) has voiced its disappointment with the government’s decision to increase the excise duty on sugar-sweetened beverages under Budget 2025.

FMM disappointed with sugary drink tax, calls for holistic approach

More details on the mechanism for targeted subsidies for RON95 petrol should come in the coming months as the government is still in the process of reviewing it, said Transport Minister Anthony Loke.

One of the proposals under discussion, he said, is the introduction of an identification system at retail stations, where eligible Malaysians would need to use their identity cards to verify eligibility before the subsidised price is displayed.

More details on targeted RON95 subsidies expected in coming months, says Loke

The government is prioritising future development efforts on essential infrastructure that benefit the people and support industrial developments, rather than mega projects.

Govt prioritising essential infrastructure over mega projects

Ukraine will ask for changes to a sweeping new economic deal proposed by US President Donald Trump, including a pledge for more US investments, according to a person familiar with the matter.

Ukraine to seek more US investments in talks over economic deal — Bloomberg

The police have arrested a businessman with the title of "Tan Sri" for allegedly scamming the public out of RM10 million under the pretence of handing the money over to the cops to resolve money-laundering cases.

Businessman with 'Tan Sri' title, said to be O&G industry veteran, arrested for RM10m scam

Muslims in Indonesia will celebrate Eid on Monday, Minister of Religious Affairs Nasaruddin Umar announced on Saturday night.

At a press conference held at the ministry, he confirmed that 1 Syawal 1446 Hijri will fall on March 31, 2025.

Indonesian Muslims to celebrate Eid on Monday

Myanmar was hit by a 5.1-magnitude aftershock on Saturday, a day after powerful earthquakes devastated several neighbouring nations, leaving more than a thousand dead.

Myanmar hit by fresh 5.1 aftershock, tremors felt in neighbouring countries

Myanmar’s death toll from Friday’s powerful earthquake passed 1,000, amid extensive damage in the country's second-largest city of Mandalay, as international rescue teams arrived to help search for survivors.

Myanmar's quake toll passes 1,000 as foreign rescue teams arrive

US President Donald Trump is urging senior advisers to take a more aggressive stance on tariffs, as the administration prepares for a major escalation in its global trade war, The Washington Post reported on Saturday, citing four people familiar with the matter.

Trump pressing advisers for tariff escalation ahead of April 2, Washington Post reports

The Malaysian Meteorological Department (MetMalaysia) can issue earthquake warnings in eight minutes, as it operates a network of 80 seismic sensors (stations) nationwide to date, to detect any earthquake activity in the country and the region, according to its director general Dr Mohd Hisham Mohd Anip.

MetMalaysia can issue quake warnings within eight minutes, says DG

Hong Kong conglomerate CK Hutchison Holdings Ltd has started preparations to spin off its global telecommunications assets and list the business in London, two people with knowledge of the matter said.

Li Ka-shing's CK Hutchison mulls global telco assets spin-off, eyes London listing, Reuters reports

US Vice President JD Vance on Friday accused Denmark of not doing a good job keeping Greenland safe, and suggested the US would better protect the semi-autonomous Danish territory that President Donald Trump has pressed to take over.

Vance accuses Denmark of not keeping Greenland safe from Russia, China

U Mobile Sdn Bhd announced on Saturday that it has received the official letter of award from the Malaysian Communications and Multimedia Commission (MCMC) for the deployment of Malaysia's next-generation 5G network, and that it is excited to commence the roll-out.

U Mobile secures MCMC award, gears up for nationwide 5G roll-out

Hong Kong conglomerate CK Hutchison Holdings Ltd has started preparations to spin off its global telecommunications assets and list the business in London, two people with knowledge of the matter said.

The Malaysian Meteorological Department (MetMalaysia) can issue earthquake warnings in eight minutes, as it&nbsp;operates a network of 80 seismic sensors (stations) nationwide to date, to detect any earthquake activity in the country and the region, according to its&nbsp;director general Dr Mohd Hisham Mohd Anip.

The police have arrested a businessman with the title of "Tan Sri"&nbsp;for allegedly scamming the public out of RM10 million under the pretence of handing the money over to the cops to resolve&nbsp;money-laundering cases.

US&nbsp;President Donald Trump is urging senior advisers to take a more aggressive stance on tariffs, as the administration prepares for a major escalation in its global trade war, The Washington Post reported on Saturday, citing four people familiar with the matter.

US&nbsp;Vice President JD Vance on Friday&nbsp;accused&nbsp;Denmark&nbsp;of&nbsp;not&nbsp;doing&nbsp;a good job keeping Greenland safe, and suggested the US would better protect the semi-autonomous Danish territory&nbsp;that&nbsp;President Donald Trump has pressed to take over.

Myanmar was hit by a 5.1-magnitude aftershock on Saturday, a day after powerful earthquakes devastated several neighbouring nations, leaving more than a thousand dead.

Muslims in Indonesia will celebrate Eid on Monday, Minister of Religious Affairs Nasaruddin Umar announced on Saturday night.

At a press conference held at the ministry, he confirmed that 1 Syawal 1446 Hijri will fall on March 31, 2025.

Budget 2025

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