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.