KOTA KINABALU: Almost three-quarters of Employees Provident Fund (EPF) contributors in Sabah have savings of less than RM50,000 in their EPF accounts. Sabah and Labuan EPF regional director Mohd Fadil Sarehan said this represents about 71%, or 691,322, of the 973,693 contributors in Sabah. Mohd Fadil said there is a need to raise awareness among contributors to...
KUALA LUMPUR: The government’s decision to raise the minimum wage from RM1,500 to RM1,700 was among the focus for both government and opposition MPs during the debate on the Supply Bill 2025 in the Dewan Rakyat on Wednesday (Oct 23). Most of them supported the move as it would benefit the workers, but some expressed concerns...
KUALA LUMPUR: Implementing subsidy rationalisation by redefining the T15 group could end up being unfair to the middle class, says Tan Sri Muhyiddin Yassin. While taking part in debates on Budget 2025 in the Dewan Rakyat on Wednesday (Oct 23), the Pagoh MP said the government had yet to define the T15 group, but it purportedly...
PETALING JAYA: The new Employees Provident Fund (EPF) measures are expected to benefit over 2.3 million people in Malaysia including two million foreign workers, says the Employees Provident Fund (EPF). Mechanisms are still being worked out on mandatory foreign workers’ contributions to the fund as well as the intergenerational transfer of wealth as proposed in the...
PUTRAJAYA: Prime Minister Datuk Seri Anwar Ibrahim left the Finance Ministry building here at 3.15pm to make his way to Parliament to table the much-awaited Budget 2025 on Friday (Oct 18). The Finance Minister was clad in a white Baju Melayu and carried a bag containing the budget speech text. Anwar was accompanied by Finance Minister II...
Malaysia’s sovereign bonds and currency are poised to rebound on robust economic indicators and expectations for fiscal discipline in the upcoming budget, investors said. Prime Minister Datuk Seri Anwar Ibrahim’s spending plan, which is set to be released Friday, will likely show a lower budget deficit ratio of 3.9% from its 2024 target of 4.3%, and...
Tourism has always been one of the major industries in Malaysia, consistently drawing travellers from far and wide. With the country’s diverse culture and history, geographical wonders and natural beauty, it is not hard to see why tourists love coming to Malaysia. Of course, an important component that helps the industry thrive is tour guides. Without...
PETALING JAYA: Barisan Nasional has held a meeting to ensure the smooth presentation of Budget 2025, says Datuk Seri Dr Wee Ka Siong. The MCA president said Barisan chairman Datuk Seri Ahmad Zahid Hamidi has directed all members to facilitate an orderly Parliamentary session. "Our gathering was to plan for the next Dewan Rakyat session, which includes...
KUALA LUMPUR: Civil servants are looking forward to the new Public Service Remuneration System (SSPA) that will be announced by Prime Minister Datuk Seri Anwar Ibrahim during the Budget 2025. The salary scheme, aimed at empowering the civil service, will ensure civil servants receive their adjustments in two phases; the first from Dec 1 this year...
PETALING JAYA: Malaysia may be able to meet its fiscal deficit target under a law that was passed last year, with the government expected to be strict with expenditure in the upcoming Budget 2025, say economists. The government’s annual spending plan will be tabled by Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim on Oct...
