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Issues Raised at the Economic Council Dialogue

The Economic Council dialogue themed "Towards Sustained Economic Growth to Counter Global Economic Slowdown" was organized by the Economic Planning Unit in the Prime Minister's Dept and the Sarawak State Government on 5 February 2009 in Kuching.

It was chaired by our Chief Minister YAB Pehin Sri Abdul Taib Mahmud. The Minister in the Prime Minister's Dept Tan Sri Amirsham Abdul Aziz was present on behalf of the Federal Government. Tan Sri Amirsham is now the Chairman of National Economic Advisory Council (NEAC).

Sarawak State Secretary, State Financial Secretary, most of the State Cabinet Ministers and heads of depts were also present.

Our Honorary President, Mr Chai Foh Chin raised five issues on behalf of our association as below:-

(1) Schedular Tax Deduction System

Issue:
The newly implemented Schedular Tax Deduction System effective 1 January 2009 as too comprehensive and not easy to be mastered by the employers.

Proposal:
To simplify the system and to provide training to employers.

Resolution:
The Inland Revenue Board was quick to respond positively by providing training to employers in groups the following weeks as from 9 February 2009. We observe that the Dept is very efficient.

(2) Appeal to Abolish Cabotage Policy

Issue:
Cabotage Policy has contributed to part of the reason for high cost of transportation to or from Sarawak.

The policy disallows foreign vessels to carry cargo beyond the first port of call in Malaysia. As a result, the imported cargo has to be unloaded at the first Malaysia port of call and transship to another Malaysian vessel for further transport to final destination in Malaysia. Hence higher cost of transportation.

Proposal:
To abolish the above policy which is to protect Malaysian shipping industry since 1980 which is far out-dated. The Malaysian shipping is now in mature stage to compete in the international market and therefore should not be protected at the expense of Malaysian business communities and consumers.

Resolution:
The Gov't has finally agreed to liberalize the Cabotage Policy for Containerized transshipment cargo for the sectors between the Port of Sepangar, Port of Bintulu, Port of Kuching with Port Klang and the Port of Tj Pelepas and vice versa. The liberalization has come into effect on June 3, 2009.

(3) Incentives for Investing in Tourism Attractions

Issue:
Sarawak is a beautiful state and a state that we all love. Most of the tourism attractions are owned and operated by the Gov't resulting financial burden to the Gov't. Private sector is reluctant to invest in tourism attraction project due to the lack of financial incentives.

Proposal:
To approve financial incentive for private sector investment in the tourism attractions which could be in the form of Pioneer Status or Investment Tax Allowance (ITA).

Resolution:
Our Honorary President Mr Chai Foh Chin was being informed by the senior officer of MIDA from K.L. some weeks later those tourism attractions can now be given Pioneer Status or to enjoy ITA on the condition that the proposed project must first be supported by the Ministry of Tourism.

(4) Financing for Landed Properties with Lease Period about to Expire

Issue:
Financial institutions are reluctant to extend credit facilities or approve new applications if the borrowers' collateral were landed properties with lease period about to expire.

Appeal:
To appeal to BNM and financial institutions to continue to accept the said properties as collateral. Mr Chai also appealed to YAB Pehin Sri Abdul Taib Mahmud, our Chief Minister and the State Gov't to expedite the processing of the application for the renewal of land lease.

Resolution:
The Chief Minister asked our Mr Chai for any specific case. Mr Chai quoted a row of shophouses at Jalan Padungan required immediate attention. In reply, our Chief Minister who chaired the session said leasehold land at Jalan Padungan would be automatically renewed as they were not gazetted for future government development. YAB's positive remarks received overwhelming response from the floor.

As advised by YAB, Mr Chai wrote to YAB Pehin Sri on 9 February 2009. Two weeks later, all the affected shopowners received letters of approval from the authorities concerned. Mr Chai and all the shopowners were very grateful to YAB Pehin Sri for his prompt action showing his commitment to assist our business community.

(5) Sales Tax Credit

Issue:
Manufacturers in Sarawak or Malaysia usually pay more Sales Tax as compared to Corporate Income Tax which burden manufacturers.

Appeal:
To appeal for Sales Tax Credit for manufacturers who were in desperate need during the economic slowdown.

Resolution:
No response from the minster concerned but understand that the mount was too large for the Federal Gov't to absorb.

Posted Date: 13 Mar 2010

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Workshop on Sarawak Rural Economic Transformation
Industrial Innovation Program and STTF
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Minister of Industrial and Entrepreneur Dev
Malaysian Global Innovation and Creativity Centre (MaGIC)
Malaysian Chinese Women Entrepreneurs Foundation
Soft Loan Scheme for Automation and Modernisation
ASEAN Economic Community (AEC) Open Day
Investment Opportunities in the Resource Based Industries
OSH CLASS Regulations
2015 Bank Negara Malaysia Annual Report
Eleventh Malaysia Plan (11MP)
National Budget 2016
Briefing on Labour Chapter, TPPA
Trans-Pacific Partnership Agreement (TPPA)
Go-Ex Programme
KOJADI SME Loan Scheme
Amendments to Regulation 32(1) of the Employees’ Social Security (General) Regulations 1971
Bank Negara Malaysia Annual Report 2014
Green Technology Financing Scheme (GTFS)
The Factories & Machinery (Person-In-Charge) (Amendment) Regulations 2014
Income Tax (Deduction From Remuneration) Amended
Prime Minister's Hibiscus Award
GST Exempt, Zero-Rated and Relief Lists Gazetted
National Budget 2015
Application for GST e-Voucher
Registration for GST before 31 December 2014
Opening of EXIM Bank Kuching
National Budget 2014
Official Opening of Bank of China & Visa Center
MIDA e-Application
Termination of the GSP from 2014
Certificate of Responsibility on Food Safety
Imposition of Customs (Prohibition of Imports) Order on Construction Materials
Updated Import Mechanism for Iron and Steel Products
Minimum Retirement Age Act 2012
Programme on Training Scheme 1Malaysia
New Requirement for Food Exports to China
New Guidelines for Market Development Grant
National Budget 2013
Domestic Investment Strategic Fund
The Investment Coordinating Board of Indonesia (BKPM)
Master Plan for the Acceleration and Expansion of Indonesia's Economic Development (MP3EI)
Operator of Steam Boiler
Certificate of Fitness of Steam Boiler
Launching of MIDA new headquarters and logo
Pos Malaysia Shopping Portal
Get Malaysian Business Online (GMBO)
Department of Skills Development Malaysia
Customs Appeal Tribunal
The Minimum Wage Order 2012 Gazetted
Malaysian Competition Act 2010 Is Enforced
GST Implementation in the Near Future
National Budget 2012
Government Financial Assistance Programmes By Malaysian Industrial Development Finance (MIDF)
Malaysia Export Exhibition Centre
SME Development Programmes
Tebedu Inland Port
Malaysia National Budget 2011
Strategic Trade Act 2010 (STA)
IRB E-ledger
APEC Website on Tariffs and Rules of Origin (WebTR)
Highlight of Tenth Malaysia Plan (2011-2015)
New Economic Model for Malaysia
Malaysian Competition Act 2010
Malaysia National Budget 2010
Issues Raised at the Economic Council Dialogue
Employers Can Reduce Their Employees' Monthly Tax Deductions
Tax Incentives for the Manufacturing Sector in Malaysia
Halal Industry Development Corporation (HDC)
Malaysia External Trade Development Corporation (MATRADE)
National Budget 2009
Investment & Trade Dialogue and Seminar 2009
Seminar Keselamatan dan Kesihatan Pekerjaan
An Introduction Programme of GMP
Optimising Opp under Malaysia Free Trade Agreement
SMI & SME Intellectual Property Awareness Campaign
Briefing on the Malaysia Benchmarking Index (MBI)
Advertise in SMA 50th Anniversary Directory 2013
SMA Membership Directory 2003: Sample 2
SMA Membership Directory 2003: Sample 1
Contribution Rate For Employees Who Are Above 55 y
Special Taskforce to Facilitate Business (PEMUDAH)
Trade Exhibitions in Malaysia 2008 - 2009
Sarawak Corridor of Renewable Energy (SCORE)
Development Financial Institutions
Definition of SMEs:
2008 Budget Highlights
GS1 Identification System
Skill Training Programmes (Technical & Vocational) By Government
Useful Website
Third Industrial Master Plan (IMP3) 2006 ¨C 2020
International Trade Malaysia 2007
Liberalisation of Foreign Exchange Administration Policies
YB Encik Larry Sng Visited Chuan Ming Sdn Bhd
2007 New Appointed Consul-General in Kuching
Patron, Hon President, Advisors & SMA Council
2007 Budget Highlights - Tax Commentary
MIDA & MATRADE - Trade and Investment Mission
Lee Fah Mee Sdn Bhd HACCP Certificate Presentation Ceremony
Human Resources Development Berhad
Ready Built Factories for Sale and Rental
Certify Your Profession - Put Up Your Skill Badge
TOCC Accredited Kilang Ceria Alam
KKB & Sarawak Enterprise Sign MoU
Ministries of Agriculture Visited Sea Horse Co S/B
ISO 9001:2000 Recognition For Sarawak Slipways S/B
China Council for the Promotion of International Trade
Registration With MATRADE
Asia Pacific Natural Products Expo
Grant for Development and Promotion of Halal Product
Grant for Enhancing Product Packaging, Design and Labeling Capabilities of SMEs
The RosettaNet
WTO Agreement on Technical Barrier to Trade (TBT)
The SME Bank
The Amended Sarawak Labour Ordinance be enforced from 1 October 2005
Electronic Procurement System (ePerolehan)
Additional Incentives for the Manufacturing Sector for Sarawak
Conclusion of the Second National SME Development
Japanese Interested in Business Venture in Sarawak
Closer Economic Partnership Arrangement (Cepa)
The Industry R& D Grant Scheme (IGS)
Hong Kong Trade Development Council Trade Fairs
Assistance For Cleaner Production / Waste Treatment Projects Implementation
Sabah International Expo 2004
Financial Schemes Under MITI For Small And Medium Enterprises (SMEs)
Registration of SMIs with SMIDEC
Registration of Exporters with MATRADE
SESCO Connection Charge Guidelines 1/2003

 

 

 


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