Petronas to the rescue


  • Business
  • Saturday, 03 Nov 2018

Spurring growth: The one-off payment from Petronas will be utilised to pay the outstanding tax refund to improve the cash flow of businesses and households. — AP

THE government is tapping into Petroliam Nasional Bhd’s (Petronas) reserves to pay off some of its outstanding tax refunds amounting to RM37bil.

The move is expected to spur economic growth from the improvement in the cash flow of businesses and households.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Business , revenue

   

Next In Business News

Sime Darby Property wins gold and silver at FIABCI World Prix d'Excellence Awards 2023
ABM: Banking industry will thrive under Abdul Rasheed’s leadership at Bank Negara
Delinquent office loans trouble commercial mortgage bond market
Second half 2023 likely bodes well for Bursa
Calls for clear reforms
Pioneering sustainability in property and construction
Bond market key to ending Sri Lanka’s crisis
Another washout quarter
Tech firms face challenges from weak ringgit, softening markets
FUTURE-READY BUSINESS HUB

Others Also Read