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SP Setia: GST not payable for land

PETALING JAYA: SP Setia Bhd’s wholly owned subsidiary, Setia Fontaines Sdn Bhd, has received solicitor advice that the acquisition of five adjoining parcels of freehold land should be goods and services tax (GST) exempted.

In a filing with Bursa Malaysia yesterday, SP Setia said the tax exemption would be pursuant to item 1(1) of the first schedule of the GST (exempt supply) order 2014.

Bursa closes on firmer note, boost from Maxis, IHH

KUALA LUMPUR: Bursa Malaysia closed Thursday on a firm note with fund buying seen again in Maxis, IHH and Petronas Chemical while trading volume continued to increase and the ringgit extended its gains against the US dollar.

Strong start for Bursa as US-China trade talks positive

KUALA LUMPUR: Bursa Malaysia jumped early Thursday, underpinned by FBM KLCI stocks as optimism returned following reports of positive US-China trade talks but whether the market can hold on to its gains remains to be seen.

Planters all set for MSPO certification

PETALING JAYA: Oil palm planters are all set for the Malaysian Sustainable Palm Oil (MSPO) certification by the end of the year, but concerns lie with the independent smallholders, who make up about 12% of estate owners in the country.

Support needed: Mohamad Nageeb foresees MSPO certification of around 90 by year-end at the rate it is happening now. Hence, he urges full support from the government. — Reuters

NGO: EU should not ban palm oil-based biofuel

KUALA LUMPUR: The European Union (EU), which is proposing a ban on the use of Malaysian palm oil-based biofuel within the eurozone, should reconsider the proposal so as not to affect the livelihood of small farmers, says an advocate for Planters United, a non-governmental organisation made up of a group of smallholder planters.

Saying that the proposed ban was invalid and unjustified, Tiow Weng Theong pointed out that Malaysia had taken all necessary steps and successfully implemented various environmental control measures while enhancing the community’s living standards through oil palm cultivation activities.