Malaysia’s rise in the 2023 IMD World Competitiveness Ranking, from 32nd place in 2022 to its current standing at 27th place, is a testament to the nation’s resilience and growth.
A strong rebound in sales of manufactured plastics underscores the sector’s importance in supporting essential economic sectors during the Covid-19 pandemic, said the Malaysian Plastics Manufacturers Association (MPMA)
The government will provide a special fund of up to RM2 billion under Budget 2022 to attract strategic foreign investments from multinational companies (MNCs)
KUALA LUMPUR: Nestle (Malaysia) Bhd is allocating a capex of RM300mil in 2021, its highest in seven years, to ramp up production capacity and upgrade technology as well as adopt state-of-the-art automation and digitalisation. We will also continue to drive our sustainability efforts across multiple fronts, with focus on Reforestation, Plastic Reduction/Collection and Recycling and constant effort to reduce the CO2 footprint of our operation, it said on the back of its first-quarter earnings result.
Nestle posted a lower net profit of RM175.16mil in the first quarter ended March 31, 2021, 5.9% lower than RM186.31mil in the previous corresponding quarter due to additional expenses incurred from Covid-19.
THANK you everyone for your feedback on my previous posting. I have read all of them, and I appreciate the constructive feedback.
Without a doubt, Covid-19 has wreaked havoc on all countries and economies. Like other nations, we are also faced with the arduous task of rejuvenating and rebuilding our economy, starting with initiatives introduced through our nation’s short-term economic recovery plan (PENJANA) announced in June 2020. PENJANA has introduced tax and investment incentives such as:
1. 0% tax rate for 10 to 15 years for new investment in manufacturing sectors with capital investment between RM300 million or above;
2. 100% Investment Tax Allowance for 5 years for existing company in Malaysia relocating overseas facilities/segments into Malaysia (extended to 31 December 2022 under Budget 2021);