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Withholding Tax Exemption

As published by the Attorney General Chamber (AGC), Minister of Finance II has provided ministerial exemption on the recent changes to the Withholding Tax on services performed overseas. The effective the date for the relief is 6 September 2017. The exemption provides relief for services performed overseas, effectively rolling back the status to pre 17 January 2017. The law, […]

Penang tops in manufacturing with RM7.7b investments

GEORGE TOWN, Oct 20 — Penang topped the national list in approved investments of RM7.7 billion in the manufacturing sector for the first half of 2017. Penang Chief Minister Lim Guan Eng said the total approved investments for the first half of this year surpassed the total investments in the sector last year. “The RM7.7 […]

Toray sets up new unit in Penang

Toray Malaysia Systems provides IT services GEORGE TOWN: Toray Group (Malaysia), wholly-owned by Toray Industries Inc, Japan and one of the pioneers of Penang’s industrialisation programme, has expanded its business operations in Penang with the establishment of yet another company, namely Toray Malaysia Systems Solution Sdn Bhd (TMS). TMS was established on May 2 with […]

TORAY establishes IT excellence centre in SPICE

Source: Buletin Mutiara Posted by Buletin Mutiara on Thursday, October 12, 2017 “Toray has successfully established Toray Malaysia Systems Solution (TMS) Sdn Bhd with MSC status based in Penang to provide “Global Business Service” to its group of companies locally and abroad. “TMS is expected to create over 100 new jobs in the next 2 or […]

Vitrox investing RM130mil to expand ops

GEORGE TOWN: Vitrox Corp Berhad will invest RM130mil to expand its operations this and next year in view of the growing demand for its test equipment and systems. Group chief executive officer Chu Jenn Weng told StarBiz that about half of the capital expenditure would be for 2017, and the remainder for 2018. “The group has so far […]

Envoy: Penang has what it takes to lure MNCs

GEORGE TOWN: The US Ambassador to Malaysia is optimistic that the business climate in Penang will continue to attract more multinational corporations to the state, with some existing ones planning on expansion. Kamala Shirin Lakhdhir (pic) said Penang plays an important role in the smart technology era which has become a driving force for companies to […]

US Ambassador: More American companies looking to invest in Malaysia; existing companies to expand their businesses

GEORGE TOWN: Several prominent American companies, currently operating in Malaysia, are looking to expand their businesses with further investments on the cards soon. United States Ambassador to Malaysia, Kamala Shirin Lakhdhir, said new American companies have also expressed their intentions to invest in Malaysia in general and Penang in particular. She however did not provide […]