KUALA LUMPUR (Sept 18): The Malaysia Gold Association (MGA) is calling for greater government support to promote Malaysian gold products in international markets.

Its president, Datuk Seri Louis Ng said the association has suggested incentives and higher allocations for the Malaysia External Trade Development Corporation (Matrade) to promote Malaysian gold products globally.

“We hope for incentives or perhaps additional allocations for Matrade to promote our gold industry in international markets under Budget 2027.

“Incentives to support our local manufacturers and other gold industry players would also enable them to expand further into international markets,” he told reporters after the launch of the Malaysian Gold Festival (MGF) 2026 here on Friday.

Ng also hopes the government will maintain the current tax structure for the gold industry under Budget 2027, adding that the association is satisfied with the existing tax environment.

“Currently, the tax structure in Malaysia is very conducive for our gold industry, and we hope the government will continue this policy for the good of the industry,” he said.

Budget 2027 is scheduled to be tabled in Parliament by Prime Minister Datuk Seri Anwar Ibrahim on Oct 9.

Meanwhile, Ng said MGA has discussed with the Royal Malaysian Customs Department (RMCD) regarding the 10 per cent import tax imposed on imported gold bars.

He said the tax treatment was clarified following a meeting with RMCD officials.

"Minted bars, particularly those in finished and packaged form, are subject to the 10 per cent tax, while kilobars and cast bars are not," he added.

On May 26, reports cited traders familiar with the matter as saying that Malaysia has imposed a 10 per cent import duty on some gold bar shipments, disrupting bullion trade in the country.

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