Tax expert raises concern over surprise service tax expansion to maintenance and repair jobs

Tax expert raises concern over surprise service tax expansion to maintenance and repair jobs KUALA LUMPUR (Feb 27): With no prior warning or consultation, the government’s decision to include almost all maintenance and repair (M&R) jobs under the service tax’s scope came as a shock and has left the public ill-prepared for it, according to a tax expert. Grant Thornton [...]

05/03/2024

Port Klang, PTP among the top 20 busiest ports in the world, says Loke

Port Klang, PTP among the top 20 busiest ports in the world, says Loke PUTRAJAYA: Port Klang in Selangor and Johor's Port of Tanjung Pelepas (PTP) remain among the top 20 main and busiest ports globally, says Transport Minister Anthony Loke. Loke said Port Klang recorded the highest number of containers processed last year, with 14.06 million twenty-foot equivalent units [...]

25/02/2024

Malaysia eyes bigger role in global aviation supply chain – MITI

Malaysia eyes bigger role in global aviation supply chain - MITI KUALA LUMPUR: Malaysia, with a credible and meaningful presence in aviation material and aircraft parts and components manufacturing, hopes to play a more important part in the global supply chain. Deputy Investment, Trade and Industry Minister Liew Chin Tong said the aerospace sector plays an important role in advancing [...]

25/02/2024

New container technology can keep perishable food fresh for longer

New container technology can keep perishable food fresh for longer Major Japanese trading house Sumitomo Corporation is set to introduce new container technology that keeps perishable food fresh for a longer time. The innovation is timely as many shipping firms are taking lengthy diversions to avoid the Red Sea due to attacks on vessels. The technology creates an electric field [...]

25/02/2024

Orix in $2bn deal to take over Osaka’s largest shipowner

Orix in $2bn deal to take over Osaka’s largest shipowner Japanese financial services company Orix Corporation has bought Osaka’s largest shipowner, Santoku Senpaku, in a deal valued at $2bn. The deal, expected to go through by the end of next month, will see 67 ships, predominantly bulk carriers plus some car carriers and container vessels, change hands. Santoku Senpaku was [...]

18/02/2024

Singapore relaunches cadet training programme

Singapore relaunches cadet training programme Singapore is relaunching a cadet training programme provided jointly by unions, industry, and the authorities following a three-year hiatus. The relaunch of the Tripartite Maritime Training Awards (TMTA) was announced by Singapore’s Minister for Transport and Second Minister for Finance, Chee Hong Tat, at the Singapore Maritime Officers Union (SMOU) Wavelink Annual Lunar New Year [...]

18/02/2024

Volatility in shipping hits extreme levels

Volatility in shipping hits extreme levels An industry known for its volatility has entered a new period of extreme swings in earnings. New research carried out by Jonathan Chappell, a shipping analyst at Evercore ISI, an investment bank, highlights the extreme volatility seen across five segments over the past 18 months. “Shipping markets are known for being notoriously volatile given [...]

14/02/2024

Maersk warns oversupply to hit profits and plays down Red Sea boost

Maersk warns oversupply to hit profits and plays down Red Sea boost COPENHAGEN, Feb 8 (Reuters) - Maersk (MAERSKb.CO), opens new tab warned on Thursday that container shipping overcapacity would hit profits more than expected this year and that it didn't see a major boost from the jump in freight rates due to Red Sea disruptions, hammering its shares. The warning, which [...]

14/02/2024

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