Budget 2019

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Gaming sector upgraded due to lower duty than expected

PETALING JAYA: The gaming sector has been upgraded to an Overweight from Market Weight previously, as UOB KayHian Research expects casino duty for the VIP segment to be raised to 20% of gross gaming revenue, lower than the initially expected 35%.

“Given that the negative impact from the gaming tax hike has been fairly priced in, and with the lower-than-initially expected VIP gaming tax serving as a pleasant surprise, investors may now refocus on Genting Group’s catalysts in 2019,” UOBKayHian said.

Government confident of cutting fiscal deficit

PETALING JAYA: Systemic reforms will require time to implement and some parts of the economy may be in for a rough ride but with strong fiscal management and institutional reforms, Malaysia will continue to be on a stronger and more sustainable growth path, Finance Minister Lim Guan Eng says.

“Given our wealth of natural resources, sound economic fundamentals, a strong professional workforce and highly sophisticated capital markets, the time to invest in Malaysia is now. I am excited for what the New Malaysia’s continuing growth story holds for the people as well as for current and future investors,” Lim Guan Eng said

The sky’s the LCCT limit

SOME of our airports are getting quite crowded due to the steady growth in air travel.

Not purpose-built: AirAsia has long argued that KLIA2 was not designed to cut user costs and turnaround.