Author name: admin

Forget the rosy headlines and the politician-speak about ASEAN’s “resilience” or “strategic recalibration.” The numbers don’t lie and ASEAN is sliding into dangerous territory, and the signs are eerily similar to the 1997 financial meltdown that gutted the region. Back then, the Thai Baht crashed, dragging the whole neighbourhood down with it. Today, it’s the Indonesian Rupiah taking a nosedive in which worse than anything we saw in ’97 and it’s a screaming warning that no one wants to hear. Politicians and their ignorance are playing dumb, but the data is crystal clear: ASEAN’s economies are slowing, vulnerabilities are piling up, and the next global recession could hit harder than anything we’ve seen before. 

The announcement in Malaysia’s 2025 Budget of the impending implementation of the Global Minimum Tax (GMT) from January 1, 2025, is a clear signal of the nation aligning with a new global tax structure. The GMT mandates that multinational companies (MNCs) with consolidated annual revenues exceeding €750 million pay at least a 15% effective corporate income tax in every country they operate.1 On paper, this may seem like a progressive step forward, aligning Malaysia with global standards aimed at curbing tax avoidance by large corporations. However, as we delve deeper into the consequences, it becomes increasingly clear that the nation may not be fully prepared for the ramifications.

Nearly 45% of respondents agreed with PMX that the government should stop electricity subsidies for those in the T20 category and those with high electricity consumption.

The result of the short poll showed 260 out of 420 respondents (61.9%) agree with the proposal to increase employers’ EPF contribution to 20%.