Thai Government To Keep Islamic Bank Afloat

BANGKOK, Jan 13 – The Thai government will keep the troubled Islamic Bank of Thailand (IBANK) afloat, said Prime Minister Gen Prayuth Chan-ocha. He said the government was not thinking about closing the bank although it was facing problems with non-performing loans (NPLs). “The bank needs a change in the way

Reduce PR1MA Apartment Prices By Half, Says PSM

KUALA LUMPUR, Jan 13 – Apartments under the 1Malaysia People’s Housing Project (PR1MA) in Cameron Highlands should be priced from a minimum of RM60,000 each, or half the present price for the cheapest units. Cameron Highlands Parti Sosialis Malaysia (PSM) branch chief Suresh Kumar said the present housing cost for PR1MA homes was still beyond the

No More RM50 Credit Card Fee With GST

KUALA LUMPUR, Jan 13 – The RM50 charged yearly for credit card, plus the RM25 for supplementary cards, will be scrapped from April 1 when the Goods and Services Tax (GST) takes effect. Alliance Bank Malaysia Bhd said on its website that with this fee (introduced in 2010) being abolished, 6% GST will instead

GST On ATM, Passbook Replacement Fee

KUALA LUMPUR, Jan 13 – The 6% Goods and Services Tax (GST) will apply on charges for replacement of an ATM card or account passbook if these are lost or damaged, said Alliance Bank Malaysia Bhd on its website. “Fees and charges related to the maintenance of the account will also be subject

No GST On Bank Loan Interest

KUALA LUMPUR, Jan 13 – Interest charged on loans and financing is exempted from the Goods and Services Tax (GST), Alliance Bank Malaysia Bhd said on its website. The 6% GST will apply only on loan processing fees, the bank said. Details on what the breakdown will be has yet to be finalised

Flash Floods Hit Villages In Labuan

LABUAN, Jan 12 – Continuous rain caused flashfloods in some villages in the duty free island here, causing panic among residents in the wee hours Sunday night. The villagers of Simpang 20 Batu Manikar and Pohon Batu had feared that their houses would be inundated, as had happened before. Certain parts

Falling Oil Prices Not Disastrous To Malaysia

KUALA LUMPUR, Jan 12 – Falling crude oil prices is not disastrous to the country but its impact on the economy depends on the reaction from the government and industry players.  Institute of Strategic and International Studies Chairman and Chief Executive Officer Tan Sri Rastam Isa said although crude oil

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