Navigating New Normals: The Future Of Logistics In A World of Uncertainty
Navigating New Normals: The Future Of Logistics In A World of Uncertainty. In an era where unpredictability has become the status quo, the logistics industry stands at the crossroads of some of the most significant challenges and opportunities it has faced in decades. The year 2024 has unfolded as a pivotal moment, with the global ocean shipping sector—responsible for [...]
10/03/2024
SST 2 pct hike: Here’s what you need to know…
SST 2 pct hike: Here's what you need to know… KUALA LUMPUR: The following are frequently asked questions regarding the scope expansion of taxable services and changes in service tax rates that will take effect on March 1, 2024. What is service tax? Service tax (ST) is a tax imposed on certain prescribed services. Service tax is also levied on [...]
05/03/2024
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
MOF: Expanded service tax scope at higher rate of 8% to bring in RM3 bil revenue
MOF: Expanded service tax scope at higher rate of 8% to bring in RM3 bil revenue KUALA LUMPUR (Feb 28): The service tax scope expansion and rate hike from 6% to 8% on select services is expected to generate an extra RM3 billion in revenue for the government's coffers, according to the Ministry of Finance (MOF). The service tax’s scope [...]
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
Air cargo market shows signs of cooling after busy start to 2024
Air cargo market shows signs of cooling after busy start to 2024 The latest figures show that the air cargo market is beginning to cool after a brisk start to the year caused by the Red Sea crisis and pre-Lunar New Year (LNY) rush. Figures from analyst WorldACD show that in week six, tonnages out of China declined by 2% [...]
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
