Mydin to absorb RM15mil in GST cost from monthly profits

PETALING JAYA: Mydin Mohamed Holdings Bhd will absorb the cost of the Goods and Services Tax (GST) of RM15mil from the estimated RM300mil monthly profits of its hypermarket and supermarket outlets.

"We have discussed with 3,000 of Mydin's suppliers and 1,500 of them have agreed to absorb the GST cost. 
"The percentage of cost to be absorbed by them is yet to be determined. But, it will likely be between two to four per cent of the six per cent GST. A majority of the suppliers are locals," he said.