August 10, 2020 KUALA LUMPUR (Aug 10): Both Petroliam Nasional Bhd (Petronas) and Tenaga Nasional Bhd (TNB) see a ray of hope as the High Court has granted them interim stay against the Inland Revenue Board (IRB) on additional tax assessments that have been imposed on the two conglomerates. The High Court has granted Petronas an interim stay against the IRB for imposing additional tax assessments amounting to RM3.6 billion on the national oil company. Justice Datuk Ahmad Kama
August 7, 2020 KUALA LUMPUR (Aug 7): The High Court today struck off the civil lawsuit filed by former premier Tun Dr Mahathir Mohamad and five others against Prime Minister Tan Sri Muhyiddin Yassin over the termination of their membership in Parti Pribumi Bersatu Malaysia (Bersatu). This was after the defendants applied to strike out the legal challenge to the membership termination on the grounds that it was “frivolous, vexatious, scandalous and an abuse of court process”.
August 3, 2020 The Edge Markets KUALA LUMPUR (July 3): The High Court has granted Petroliam Nasional Bhd (Petronas) an interim stay against the Inland Revenue Board (IRB) from enforcing its additional tax assessment of RM105 million on the national oil company. Justice Datuk Ahmad Kamal Shahid granted the interim stay as Shell Oil & Gas (M) LLC/PCSB/JX Nippon Oil & Gas Exploration (Sarawak) Ltd and Petronas Carigali Sdn Bhd filed a judicial review seeking leave to challenge t
April 3, 2020 The Edge Markets (April 3): The Movement Control Order (MCO) has affected all of us, something which we all accept as necessary to curb the spread of Covid-19. The restricted movement during this period undoubtedly causes an impact on the economy. It is notable that 98.5% of business establishments in Malaysia are small and medium enterprises (SMEs), where they are regarded as the backbone of the economy, according to SME Info. SMEs contributed 38.3% to the nati
March 24, 2020 The Edge Markets KUALA LUMPUR (March 24): On March 23, 2020, the Prime Minister announced some immediate measures to relieve the burden of the rakyat in light of the ongoing movement control order (MCO). For instance, the availability of RM500 a month for the next 12 months from the EPF’s i-Lestari account will not only supplement the income of many lower income and working class families, it will also boost the economy, especially small businesses, as 12 milli
March 18, 2020 The Edge Markets KUALA LUMPUR (March 18): The government led by Prime Minister Tan Sri Muhyiddin Yassin enforced a movement control order effective midnight yesterday. Besides essential services as listed by the government, all other activities are to shut down. This means millions of Malaysians will have to remain at home or work from home and only engage in minimal trips outside, essentially confining themselves to the sundry shops or supermarkets to stock up