Latest news with #OpsKesan4.0
Daily Express
19 hours ago
- Business
- Daily Express
Ministry refutes ice price hike claim
Published on: Wednesday, July 02, 2025 Published on: Wed, Jul 02, 2025 By: Crystal E Hermenegildus Text Size: Armizan said Ops Kesan 4.0, which begins on July 1, 2025, will monitor such movements closely and action will be taken under the Price Control and Anti-Profiteering Act 2011 (Act 723) if there is evidence of unreasonable price hikes. Kota Kinabalu: Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali (pic) has clarified that the recent claim saying there's a hike in the price of ice from RM3.70 to RM6 is inaccurate. The ice manufacturer in question has lodged a police report. He said the Ministry takes viral claims seriously, but urged the public to verify such information before spreading it. 'The ice manufacturer involved confirmed they did not issue the notice,' he said. While acknowledging that some producers may have made minor price adjustments, especially for block ice, Armizan said no formal notice of a price hike to RM6 had been submitted to the Ministry. KPDN summoned the ice company to provide a detailed explanation regarding any price changes, including whether the adjustments are related to increased electricity tariffs, raw material costs or the implementation of Sales and Service Tax (SST). 'If they claim the increase is due to SST, we will require a breakdown of which components led to the price adjustment. It's not just about the new price, but the profit margin or price range must also be justified,' he said. Armizan said Ops Kesan 4.0, which begins on July 1, 2025, will monitor such movements closely and action will be taken under the Price Control and Anti-Profiteering Act 2011 (Act 723) if there is evidence of unreasonable price hikes. 'The law allows us to issue a notice, and if we find profiteering, individuals can be fined up to RM100,000 or jailed for three years, while companies face fines of up to RM500,000,' he warned. He reminded all businesses, especially those dealing with essential items like ice, to act responsibly and ensure any price changes are transparent and based on actual cost increments. 'We understand that operational costs may change, but that doesn't mean prices can be increased arbitrarily. There must be accountability,' said Armizan. KPDN is also currently monitoring similar issues involving other consumer goods, including the recent price movement involving Ramly Burger products, which will also be reviewed. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Sinar Daily
2 days ago
- Business
- Sinar Daily
SST, new electricity tariff set to test economy in Q3 2025
These two measures occurring simultaneously, marked a new phase in the country's business and economic landscape. The implementation of the expansion and adjustment of the Sales and Service Tax (SST) begins today. Starting today (July 1), the government will implement the expansion of the Sales and Service Tax (SST), which is expected to impact industries and the public. Additionally, the implementation of the new electricity tariff schedule will also commence on the same day, reflecting changes in surcharge and rebate rates that will affect domestic and commercial users' bills. These two measures, namely the SST expansion and the new electricity tariff schedule, occurring simultaneously, marked a new phase in the country's business and economic landscape. In this context, observing the impact on consumers, businesses and certain economic sectors became increasingly important, especially as the third quarter of 2025 was expected to be challenging. The Domestic Trade and Cost of Living Ministry will launch Ops Kesan 4.0 to ensure traders do not take advantage by arbitrarily increasing the prices of goods and services following the revision of the sales tax rate and the expansion of the service tax scope. Its minister Datuk Armizan Mohd Ali said the implementation of Ops Kesan will take effect today, the same day as the implementation of the SST revisions and scope expansion. He said the focus of monitoring and enforcement was to ensure traders at all levels do not take advantage by unreasonably raising the prices of goods and services in contravention of the laws under the Price Control and Anti-Profiteering Act 2011. This situation showed that the government has made early preparations to reduce the direct impact of the implementation of the new fiscal policy on consumers and businesses. The implementation of Ops Kesan 4.0 by the ministry was an immediate control measure to ensure prices remained stable and were not arbitrarily manipulated. However, the anticipated short-term effects cannot be overlooked. Consumers may experience price increases for certain goods and services, particularly those not previously subject to service tax, such as logistics, maintenance and some professional services. For traders, operational costs were likely to increase due to the combination of two factors: additional taxes through SST and higher electricity bills under the new tariff schedule. This was expected to have a bigger impact on small and medium enterprises, especially those with low profit margins. In the industrial sector, particularly manufacturing, changes in electricity tariff rates will directly impact production costs, leading to higher final product prices, thereby affecting consumers' purchasing power. So far, the SST implementation has received mixed reactions from businesses and consumers. Some supported it for the sake of the country's economy, but many were concerned about the ripple effects on market prices. More Like This
Daily Express
2 days ago
- Business
- Daily Express
Ops Kesan to monitor, prevent price increases
Published on: Tuesday, July 01, 2025 Published on: Tue, Jul 01, 2025 Text Size: 'If a good or service is not listed under the revised SST scope or has been exempted, there is no basis to increase prices due to SST,' Armizan said. Kota Kinabalu: The Domestic Trade and Cost of Living Ministry (KPDN) will launch Ops Kesan 4.0 starting today (July 1), to monitor and prevent unjustified increases in the prices of goods and services following adjustments to the Sales and Service Tax (SST). Its Minister Datuk Armizan Mohd Ali said the nationwide operation would be carried out under the Price Control and Anti-Profiteering Act 2011 (Act 723) and will target businesses attempting to exploit the SST revision for excessive profit. 'The objective of Ops Kesan 4.0 is to ensure that no party takes advantage of the SST adjustments by increasing prices without basis. Any movement in prices must be reasonable and justifiable,' he said during a press conference at the Sabah International Convention Centre (SICC), Monday. The operation will focus on three main areas: monitoring price movements, enforcing the law through written notices under Section 21 of the Act, and increasing compliance among traders along the supply and distribution chains. The Ministry will use four main sources to guide its enforcement: data from companies registered with the Royal Malaysian Customs Department, internal daily price alerts monitored by KPDN, public complaints, and market intelligence gathered by KPDN's enforcement teams. 'Ops Kesan is not new. We have previously implemented it under different circumstances, such as the targeted diesel subsidy and public sector wage adjustments,' said Armizan, referencing earlier versions 2.0 and 3.0. He assured that prior to enforcement, KPDN already gathered baseline price data and strengthened collaboration with key agencies, including the Customs Department and the Ministry of Finance. Standard operating procedures have also been outlined to manage complaints efficiently. Armizan stressed that not all goods and services are affected by the SST revision. 'If a good or service is not listed under the revised SST scope or has been exempted, there is no basis to increase prices due to SST,' he said. He also warned companies with annual revenue below RM1 million not to use SST as a justification for price hikes, as the threshold only applies to registered companies. Armizan added that some businesses that only registered for SST after July 1 but immediately raised prices would be investigated for non-compliance. Price increases must be both timely and legally justified, not opportunistic. KPDN will also evaluate whether a price movement falls within the legal bounds of Act 723, using a set formula and data to assess whether an increase is reasonable or considered profiteering. Traders are encouraged to consult KPDN for clarification before adjusting prices. He warned that individuals found guilty of profiteering can face a fine of up to RM100,000, three years' imprisonment, or both. Companies can be fined up to RM500,000. 'We will not tolerate any form of exploitation. This is about protecting the rakyat from unreasonable costs,' he added. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Star
2 days ago
- Business
- The Star
Expanded SST: Ops Kesan 4.0 to ensure businesses do not raise prices indiscriminately
KOTA KINABALU: The Domestic Trade and Cost of Living Ministry will use three approaches to ensure that Ops Kesan 4.0, which coincides with the implementation of the expanded Sales and Service Tax on Tuesday (July 1), will run smoothly. Minister Datuk Armizan Mohd Ali said this includes implementing data collection of prices and service charges by its officers. "The data will from the basis of comparing prices and service charges before and after the Sales and Service Tax (SST) rate review," he said at a media conference after an engagement session with Sabah small and micro traders here on Monday (June 30). He said the standard operating procedure for managing complaints on charges, prices and supplies was a good approach to ensure the operation achieves its objectives, adding that the ministry would take stern action against traders who raise prices indiscriminately, including fines of up to RM100,000 or three years' jail or both for individuals and fines of RM500,000 for companies. On Ops Kesan 4.0, which comes under the Price Control and Anti-Profiteering Act 2011, he this is to ensure traders do not indiscriminately raise prices of items and services, which violates the Price Control and Anti-Profiteering Act 2011. The scope of enforcement includes goods and services involved in the SST rate review, including monitoring of goods not involved in the review, such as basic necessities, he added. – Bernama
