Latest news with #RM3.31
New Straits Times
10-07-2025
- Business
- New Straits Times
Singapore to roll out grant to assist businesses adapt to tariffs
SINGAPORE: Singapore is set to launch a new grant by October 2025 to help businesses adapt to the new tariff environment, the Singapore Economic Resilience Taskforce (SERT) announced on Thursday. Manpower Minister Tan See Leng said the Business Adaptation Grant will be capped at S$100,000 (S$1 = RM3.31) per company, with small and medium enterprises (SMEs) likely to receive a higher level of support. "The SMEs, we will be more generous in terms of allocation of the grant itself, because they actually account for about two-thirds of our workforce in Singapore, a significant proportion of them are Singaporeans," he told a media conference, alongside other members of SERT. The scope of the grant will enable enterprises that export to and/or operate in overseas markets and are impacted by tariff measures to conduct free trade agreements and trade compliance advisory, legal and contractual advisory, as well as supply chain optimisation and market diversification. It will also support enterprises with manufacturing operations overseas or locally, who may receive assistance for reconfiguration costs, such as logistics and inventory holding expenses. Tan said additional details on the grant will be announced in due course. Meanwhile, Deputy Prime Minister Gan Kim Yong said the latest series of tariffs announced by the United States (US) will likely prolong uncertainty, volatility, and challenges for global economies. "We hope that negotiations and consultations will continue, and that the US will be able to reach deals with these countries to bring about lower tariffs and trade barriers," he said, adding that Singapore continued to be subject to a 10 per cent baseline tariff. Gan, who also serves as Trade and Industry Minister, shared that he will travel to the US later this month to continue discussions on potential US concessions on pharmaceutical tariffs and hold talks with the US administration on broader economic collaboration between the two countries. US President Donald Trump had previously stated his intention to introduce tariffs on imported pharmaceuticals. "We have not commenced a discussion on semiconductors. We will probably touch on semiconductors after we have settled the pharmaceuticals discussion with the Department of Commerce," Gan said. Meanwhile, Gan noted that the economy is likely to hold up relatively well in the first half of this year, as businesses have been preparing to adjust to the new tariff realities. "However, given the expectation of higher tariffs going forward, as well as the diminishing front-loading effect, we will likely see slower economic growth over the next six to 12 months," he said.
The Sun
22-05-2025
- Automotive
- The Sun
Penang govt replaces aging fleet of cars to reduce maintenance costs
GEORGE TOWN: The Penang government has replaced its aging fleet with 15 new Toyota Camry 2.5V (AT) (CBU) cars to reduce rising maintenance costs, which currently average RM42,144 per vehicle. Chief Minister Chow Kon Yeow said that, as a matter of policy, vehicles for Exco members and senior officials are typically replaced every six years. The current fleet was purchased in 2019, following the initial replacement cycle that began in 2013. 'The older vehicles are still in use, primarily for carpooling among officers who require transportation. The vehicles are not being sold or left unused,' he said during his winding-up speech on the opening address by the Penang Yang di-Pertua Negeri, Tun Ramli Ngah Talib, at today's state legislative assembly. He added that the state government has spent nearly RM650,000 on maintaining these cars over their service period. Last Tuesday, Chow confirmed the procurement of 15 Toyota Camrys by the state government at a total cost of RM3.31 million, inclusive of sales tax and excise duties, equivalent to RM220,783 per unit. Ten are allocated to Exco members, three to former officials, and one each to the Speaker and Deputy Speaker. The vehicles were handed over on April 4.
The Sun
22-05-2025
- Automotive
- The Sun
Penang govt replaces Toyota Camry as its fleet vehicle
GEORGE TOWN: The Penang government has replaced its aging fleet with 15 new Toyota Camry 2.5V (AT) (CBU) cars to reduce rising maintenance costs, which currently average RM42,144 per vehicle. Chief Minister Chow Kon Yeow said that, as a matter of policy, vehicles for Exco members and senior officials are typically replaced every six years. The current fleet was purchased in 2019, following the initial replacement cycle that began in 2013. 'The older vehicles are still in use, primarily for carpooling among officers who require transportation. The vehicles are not being sold or left unused,' he said during his winding-up speech on the opening address by the Penang Yang di-Pertua Negeri, Tun Ramli Ngah Talib, at today's state legislative assembly. He added that the state government has spent nearly RM650,000 on maintaining these cars over their service period. Last Tuesday, Chow confirmed the procurement of 15 Toyota Camrys by the state government at a total cost of RM3.31 million, inclusive of sales tax and excise duties, equivalent to RM220,783 per unit. Ten are allocated to Exco members, three to former officials, and one each to the Speaker and Deputy Speaker. The vehicles were handed over on April 4.
New Straits Times
22-05-2025
- Automotive
- New Straits Times
Penang CM defends RM3.3mil Camry purchase: 'Old cars cost more'
GEORGE TOWN: After defending the Penang Development Corporation's (PDC) decision to award staff bonuses of up to six months' salary, Chief Minister Chow Kon Yeow has now justified the purchase of 15 new Toyota Camry (AT) (CBU) vehicles for use by his administration. In his winding-up speech at the state legislative assembly today, Chow said the new vehicles were acquired to reduce maintenance costs. He said that the state government typically replaced its fleet every six years, with the previous batch purchased in 2019. "The state replaces official vehicles every six years to reduce the rising cost of maintenance," he said. "The previous vehicles are still in use, kept in a pool for officers as needed." However, Chow said that even with the pooled cars, there were still not enough vehicles to meet demand. He said that it was widely recognised that vehicles older than five years with high mileage could pose safety concerns and incur higher maintenance costs. He said the practice of replacing official vehicles every six years began in 2013, and maintenance costs for the ageing fleet had risen significantly. "On average, maintenance for each vehicle assigned to Exco members and officers has reached RM42,144 due to wear-and-tear repairs," he said. "In total, the state has spent nearly RM650,000 on maintaining these vehicles." Chow's administration has faced criticism over the recent purchase, particularly in light of reports highlighting the state's financial constraints. On Tuesday, Chow confirmed the acquisition of 15 new Toyota Camry vehicles, costing a total of RM3.31 million. Of these, 10 were allocated to state executive councillors, three to ex-officio members, and one each to the Speaker and Deputy Speaker of the state legislative assembly.
Malaysiakini
20-05-2025
- Automotive
- Malaysiakini
CM confirms Penang bought 15 Toyota Camry for RM3.31m
Penang Chief Minister Chow Kon Yeow today confirmed the purchase of 15 vehicles for the state government's use, including its state executive councillors and the State Legislative Assembly speaker. Chow added that the 15 Toyota Camry 2.5V vehicles were purchased for RM3.31 million, including road tax and excise duty, with each car costing an estimated RM220,783.
