The Inland Revenue Board (IRB) collected a record RM109.7bn ($35.4bn) in direct taxes in 2011. Under its Corporate Plan 2012-15, launched in July 2012, the IRB is targeting an annual tax revenue growth of 15%. The IRB is working towards identifying newer opportunities in expanding the tax base and areas of tax revenue which were not fully explored...
Recent efforts to upgrade Malaysia’s agricultural sector that include increased incentives for farmers to learn new techniques and adopt advanced technology are expected to lead to greater harvest yields and help meet rising domestic demand for food products. While the sector contributes around 12% of GDP and provides employment to some 16% of...
As the global population cruises past the 7bn mark, the demand for health care goods and services continues to grow through bull and bear markets. With the annual global market estimated by the Malaysian Investment Development Authority (MIDA) at $300bn and growing at a rate of 10%, the medical devices industry provides a competitive yet attractive...
Under Malaysia’s 2012 budget, the health services sector was allocated RM15bn ($4.8bn) for operating expenditure and RM1.8bn ($580.6m) for development expenditure. The total budget for 2011 was RM15.2bn ($4.9bn) and for 2010, it was RM14.8bn ($4.7bn). Malaysia spends 4.1% of its total annual expenditure on the public health care sector, making it...
The past 12 months have been good ones for the most established and developed of Malaysia’s growth corridors, Iskandar Malaysia (IM). Indeed, hitting some key growth targets in 2011-12, IM has been busy consolidating its standing as one of the fastest-growing regional development projects in the country.
With mobile use in Malaysia having long surpassed the 100% penetration rate, market players are seeking to boost profits by increasing data subscriptions and non-voice value-added services. A number of increasingly affordable handsets, along with carrier promotions and subsidies, is driving rapid smartphone adoption – critical to boosting the data...
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