Business Times : frontpage
Friday, March 12, 2010, 10.56 AM



Gulf Petroleum signs deals for US$5b hub (Mar 11)
Qatar-Based Gulf Petroleum Ltd expects to start construction of a US$5 billion (RM17 billion) integrated oil and gas complex in Port Dickson, Negri Sembilan, next year. "Once we have finalised all matters, including the purchase of 1,000-1,500 acres of land in Port Dickson, we expect to begin work next year," Gulf Petroleum (M) Sdn Bhd (GPLM) chairman Dr Omar Zuhair Abdulgader Hafiz told reporters after a signing ceremony in Seremban on Wednesday. GPLM signed several agreements and memorandums of agreement, including with South Korea's GS Engineering and Construction, Saudi Arabia's Haykalah, the United Arab Emirates' Geodynamics International Co and Singapore's Gas and Oil Support Services Pte Ltd. The agreements covered the financial, construction, operation and maintenance, equity-holding, off-take arrangement for end-products, and technical aspects of the project. Negri Sembilan Menteri Besar Datuk Seri Mohamad Hasan witnessed the signing between the company and its ...


Malaysia still looking into GST implementation (Mar 11)
"We did not say cancel. We discussed in detail the implementation of it in terms of people's familiarity and how ready we are," Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah told reporters in Kuala Lumpur yesterday. He said the Cabinet on Wednesday only discussed aspects of the GST, especially the people's understanding of the proposed tax system and its implementation. The GST was intended to replace the current Sales and Services Tax (SST) by the middle of next year. However, Husni said that nothing had been finalised by the government as yet. Under the proposed GST, consumers will pay 4 per cent tax instead of the current service tax of 5 per cent and sales tax of 10 per cent. Tax experts fear that many business operators may face problems in implementing the new tax structure as they need to put in the right system to comply with the GST after it is introduced. Earlier, the minister delivered a speech at the Faber group's vendor recognition event....