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Datuk Koong Lin Loong hopes that Budget 2024 would also prioritize the integration of ESG that contributes to industrial growth. "Ultimately, this will result in infrastructure and economic development that can boost Malaysia's competitiveness on a global scale in the long term".
For full report, please refer to The Star portal: https://www.thestar.com.my/news/nation/2023/09/29/budget-2024-seeking-climate-action-focused-support
Budget 2024 must send a message to the rakyat and to foreign investors on how Malaysia is strengthening its economy and the ringgit.
reported by The Star dated 7 Sep 2023
reported by Gutzy Asia dated 21 Aug 2023
The Monetary Authority of Singapore (MAS) announced on 28 July this year that all corporate cheques will be eliminated by end-2025 while individuals will still be able to use cheques for a period after 2025.
This move will affect the Malaysian business community as Malaysian business owners are used to issuing cheques, especially small businesses, said Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) treasurer Datuk Koong Lin Loong.
He emphasised that hybrid payment methods should be maintained, both e-transfer and cheque payment.
The Star dated 28th July 2023
"We need continuous improvement, especially in ease of doing business and how we attract FDI while solidifying our DDI. Execution is very important."
The Star dated 25th May 2023
"Microenterprises in Klang Valley, Penang and Johor were already offering salaries above RM1,500. But the minimum wage is a burden on microenterprises in Sabah, Sarawak, Terengganu and Kelantan."
The Star dated 18 May 2023
The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) treasurer-general Datuk Koong Lin Loong, said LHDN must be clear on the workings of SVDP 2.0 to avoid misunderstandings and confusion.
“For the coming SVDP, the tax authorities must clearly state that they have the right to seek further clarification if any misleading or misconstrued information is given,” he said.
As for the zero-penalty initiative, Koong described it as a good move as it will encourage more Malaysians to be tax-compliant.
If done properly, he said SVDP 2.0 would boost LHDN’s profile in the eyes of the public while also increasing the number of new taxpayers.
For full report: https://www.thestar.com.my/news/nation/2023/05/18/clear-the-air-on-zero-penalty-amnesty-say-tax-experts
Star Biz dated 24th Apr 2023
LL Koong: the new SME master plan must be more practical on the growth and the resilience of the SMEs, and not merely one that looks good on the theoretical side. SMEs are very different from those large corporations in terms of resources and markets
To read the full report: https://www.thestar.com.my/business/business-news/2023/04/24/time-for-a-new-sme-plan
Published in The Business Times (Singapore) dated 17th Apr 2023
The Star dated 15th Apr 2023
4 Apr 2023 - CGTN
China has been Malaysia's biggest trading partner for the past 14 years, and a leading source of foreign investment. It's also as an important strategic partner – holding joint disaster relief and military exercises in recent years as Malaysia looks to maintain balanced ties with East and West. So expectations are high for Anwar Ibrahim's maiden visit to China as prime minister.
More: http://bit.ly/3nP6sON
4th Apr 2023 The Star
Koong said he believed Anwar's visit would boost Malaysia in the current medium-term of the 12th Malaysia Plan (2021-2025).
"A task force should be formed to oversee the implementation and progress of all MOUs, including other investments.
"All relevant government agencies should step up and cut bureaucracy to make it simpler for investors to come to Malaysia and do business," he said.
Read more: http://bit.ly/3ZIvfS9
2023 Feb 26 - The Star: Luxury Tax a boon or bane?
