Proposed taxes will weigh on firms

PETALING JAYA: Malaysian plantations are faced with two new government tax initiatives, which could weigh heavily on their earnings, says RHB Research.

In the tabling of Budget 2022 last Friday, the government said it had increased the windfall tax threshold for Peninsular Malaysia to RM3,000 a tonne from RM2,500 a tonne, and for East Malaysia, from RM3,000 a tonne to RM3,500 a tonne.