Foreign firms keen to do business due to cost advantage

PETALING JAYA: Overseas companies are eyeing Malaysia as a hub to reduce cost following the implementation of the 10% Low Value Goods Tax (LVGT) for import goods costing RM500 and below sold online, says a group.

After considering several factors, including the cost of doing business, Malaysia Cross Border E-Commerce Association president Eng Kin Hoong said some overseas companies are now thinking of opening their business here.