Govt collected RM5.4b in SST, exceeds forecast of RM4b


Finance Minister Lim Guan Eng said the final decision to pick the bankers for its 200bil yen (US$1.9bil) Samurai bond would only be made next week.

KUALA LUMPUR: The government collected RM5.4bil from the Sales and Services Tax in the past two months, exceeding its estimate of RM4bil, Bloomberg reported.

Finance Minister Lim Guan Eng told a press conference in Putrajaya on Thursday the final decision to pick the bankers for its 200bil yen (US$1.9bil) Samurai bond would only be made next week.

Bloomberg earlier reported Malaysia had hired banks for the country’s first Samurai bond sale in three decades, adding to a flood of yen-denominated debt offerings by global borrowers tapping cheap funds in Japan.

Among the arrangers were HSBC Holdings Plc, Mizuho Financial Group Inc. and Nomura Holdings Inc.

Meanwhile, the report stated Malaysia is confident that deficit levels are on track for 3.7% for 2018, 3.4% for 2019, 3% for 2020, and under 2.8% in 2021.

Malaysia will not need to re-calibrate budget if crude prices remain within the range of US$50 and US$70 per barrel.

 

Subscribe now for a chance to win your dream holiday!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Samurai bond , HSBC , Mizuho , Nomura , deficit , Guan Eng

   

Next In Business News

Wall St set for higher open as investors assess U.S. election after Biden exit
McDonald's to extend US$5 value meal, Bloomberg News reports
Aluminium slips to almost four-month low on demand concerns
Malaysia Airports, MBI ink MoU to develop Subang Airport's zones 3 and 4
Coordinated govt actions bolster ringgit as Asia's top performing currency - MoF
Kenanga maintains 2Q24 GDP growth forecast at 4.5-5.0%
Ringgit slightly higher on expectations of Fed rate cut
MPay gets Bank Negara nod for Class A money services licence
MAHB passenger traffic soars 15.8% in 1H24
YX Precious gets SC approval for Main Market transfer

Others Also Read