Avenues available for Resorts World Genting to offset 2% service tax increase, says Maybank IB
KUALA LUMPUR (Oct 20): Genting Malaysia Bhd (GenM) can employ several measures to minimise the negative impact from the two percentage point (ppt) service tax rate hike proposed in Budget 2024, according to Maybank IB Research.
Hidden bad debts worrying for Chinese banks, as the sector’s finance is already in a mess, according to The Economist.
It said local governments are struggling to repay lenders at least 65 trillion yuan (RM42.8 trillion) in off-balance-sheet debts.
It said many of the country’s big property developers have already defaulted on offshore bonds and owe trillions of yuan-worth of unbuilt homes to local residents.
"Clarity" on #lecanemab for #Alzheimers. Can we sell patients a biweekly infusion that is neither safe nor effective? And if narrative prevails over evidence, can we afford it? An excellent editorial in the @GreenJournal
KUANTAN: The Bentong Municipal Council (MPB) has issued a stop work order for the alleged construction of a toll gantry near Gohtong Jaya for visitors to the popular hilltop resort Genting Highlands in Bentong.
An MPB source said the stop work order was issued on Wednesday since the developer did not comply to the conditions or seek the approval from the local authorities before works began at the site.
"The developer has to submit a building plan, planning permission and plan consisting details about the piping, and road layout but the submission was incomplete. No permission was given to build the gantry," said the source today.
The source said while MPB was made to understand that the gantry was for the construction of toll booths, the approval to collect toll charges did not come under the council's jurisdiction.
Meanwhile, a state government official, who spoke on the condition of anonymity, said the operator had not put forward any proposal to introduce a one-way trip toll charge for Genting Highlands-bound holidaymakers.
"If there is such a plan, it should be brought to the attention of the Pahang government including the state government's investment and privatisation department before it is discussed at the state executive council (exco) meeting," he said.
It is learnt that although the proposed toll is built on private land, the Finance ministry and Transport ministry had to be consulted on toll collection.
Yesterday, a Chinese daily reported that motorists travelling to Genting Highlands would soon have to pay toll charges and that Lingkaran Cekap Sdn Bhd, which is in charge of maintaining the roadworks in Genting, would manage the toll's operations.
Pahang Unity, Tourism and Culture Committee chairman Leong Yu Man said the matter had never been discussed during the state executive council meeting.
In line with the continuing rise in global interest rates, the three-month compounded Singapore Overnight Rate Average (SORA) increased to 3.6% in March 2023 from 2.5% in October 2022. The three-month S$ Singapore Interbank Offered Rate (SIBOR) rose to 4.2% from 3.9% during this period. 14 Apr 2023
What is the interest rate prediction for Malaysia?
A strong majority, 24 of 25, forecast the central bank to hold rates at 3.00% until the end of this year. Only one expected a 25 basis point hike to 3.25% in November. 4 Sept 2023
Tetapi... differences in interest rates between countries can impact various aspects of the financial markets, including banking, utilities and... Genting.
When a country has a higher interest rate than another, it can affect investment flows and exchange rates. 😎
Chinese tourist didn't come in........food is getting expensive.......3rd rated Stars.......holidaying is more costly......liquidity for people drying up......businesses slowing......unemployment rate up......Ministers flying all over begging for FDI.......and NOW EVEN PAY TOLL on this One way road??????.......(didn't Gomen said before, Tolls are allowed if alternatives are available???)
Company is on fishing expedition.....building Toll booth on Batang Kali side first...testing waters.....then the Karak side......I would love to see those fuming red faces as they dish out RM5.00 to pay Tolls.......many are saying, not reaching the tables already losing money.
Fed officials prepare to extend rate pause without saying hikes are done.. they cakap about interest rates staying higher for longer...and many are assuming interest rates are going to stay high.. high this decade 😎
For longer than 50 years, the Founder never put up Tolls as road blocks and collect taxes........But now, road tolls on customers............seems like every few ringgit makes a difference.
Every week same trap - start strong end week laosai ———————— Nomura - higher service tax (8%) is NEGATIVE for gaming sector as gaming co historically absorb service tax..reduction in entertainment duty (5%) is “marginal positive”
"I would say that a good student of history and geopolitics wouldn’t be necessarily surprised. You talk about human rights at one end and you deny (these) rights to others.
"For example, you condemn Russia for aggression because of its decision to (invade) Ukraine.
“But with the Israeli aggression and taking over of legitimate Palestinian land, that is condoned – not only that, it is supported and defended,” he said in an interview with Arab News last Friday on the sidelines of the inaugural Asean-GCC Summit in Riyadh, reported Bernama.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
neohts
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https://theedgemalaysia.com/node/686934
Avenues available for Resorts World Genting to offset 2% service tax increase, says Maybank IB
KUALA LUMPUR (Oct 20): Genting Malaysia Bhd (GenM) can employ several measures to minimise the negative impact from the two percentage point (ppt) service tax rate hike proposed in Budget 2024, according to Maybank IB Research.