Latest news with #RM313.8
New Straits Times
03-07-2025
- Business
- New Straits Times
Retail participation slumps in June as trading value drops 17pct
KUALA LUMPUR: Retail participation in the Malaysian equity market weakened sharply in June, as investors retreated from several key sectors and reduced overall trading activity. According to CIMB Securities, the average daily trading value by local retail investors fell 17.3 per cent month-on-month, the steepest decline among all investor categories. This led to the group's market participation share dropping to 16 per cent, down one percentage point from May, the firm said in its June 2025 monthly wrap note. "Local retail investors remained net sellers for the third straight month in June, with their net sell value rising 2.7 times month-on-month to RM393 million," it said. It added the largest net outflow was seen in the utilities sector, where retail investors sold RM313.8 million worth of shares, their fifth consecutive month of exits from the segment. In contrast, institutional and foreign investors were net buyers in utilities and selected other sectors, reflecting a divergence in investor strategies amid heightened policy and earnings uncertainty. Overall, retail investors' net position for the first half of 2025 remained in positive territory at RM1.65 billion, but the trend suggests retail sentiment may be turning more cautious.
Malaysian Reserve
22-04-2025
- Business
- Malaysian Reserve
High Court grants Na'imah leave to challenge IRB's RM313.8m tax claim
SHAH ALAM — The High Court today granted leave to Toh Puan Na'imah Abdul Khalid (picture), the widow of former finance minister the late Tun Dr Daim Zainuddin, to commence judicial review proceedings to challenge the Inland Revenue Board's (IRB) tax claim of RM313.8 million. Her counsel, S. Saravana Kumar, stated that the court was satisfied that his client's application for leave had merit. Speaking outside the courtroom, Saravana Kumar said Justice Dr Shahnaz Sulaiman held that Na'imah's application was neither frivolous nor vexatious, and that it raised legal questions warranting a substantive hearing. Federal counsel Sheryn Yong appeared on behalf of the Attorney General's Chambers during the proceedings. Previously, on Oct 18, 2024, the same court dismissed Na'imah's application for a temporary stay of the order requiring her to settle RM313.82 million in income tax arrears to the IRB. The court had ruled that there were no exceptional circumstances to justify the stay and affirmed that the respondent was empowered under the Income Tax Act 1967 to enforce collection. However, on Oct 28, 2024, the Court of Appeal unanimously allowed Na'imah's application for a temporary stay of the payment order. — BERNAMA
Malay Mail
22-04-2025
- Business
- Malay Mail
Daim's widow Na'imah gets High Court go-ahead to challenge IRB's RM313.8m tax order
SHAH ALAM, April 22 — The High Court today granted leave to Toh Puan Na'imah Abdul Khalid, the widow of former finance minister the late Tun Dr Daim Zainuddin, to commence judicial review proceedings to challenge the Inland Revenue Board's (IRB) tax claim of RM313.8 million. Her counsel, S. Saravana Kumar, stated that the court was satisfied that his client's application for leave had merit. Speaking outside the courtroom, Saravana Kumar said Justice Dr Shahnaz Sulaiman held that Na'imah's application was neither frivolous nor vexatious, and that it raised legal questions warranting a substantive hearing. Federal counsel Sheryn Yong appeared on behalf of the Attorney General's Chambers during the proceedings. Previously, on October 18, 2024, the same court dismissed Na'imah's application for a temporary stay of the order requiring her to settle RM313.82 million in income tax arrears to the IRB. The court had ruled that there were no exceptional circumstances to justify the stay and affirmed that the respondent was empowered under the Income Tax Act 1967 to enforce collection. However, on October 28, 2024, the Court of Appeal unanimously allowed Na'imah's application for a temporary stay of the payment order. — Bernama
The Sun
22-04-2025
- Business
- The Sun
High Court grants Na'imah leave to challenge IRB's RM313.8 mln tax claim
SHAH ALAM: The High Court today granted leave to Toh Puan Na'imah Abdul Khalid, the widow of former finance minister the late Tun Dr Daim Zainuddin, to commence judicial review proceedings to challenge the Inland Revenue Board's (IRB) tax claim of RM313.8 million. Her counsel, S. Saravana Kumar, stated that the court was satisfied that his client's application for leave had merit. Speaking outside the courtroom, Saravana Kumar said Justice Dr Shahnaz Sulaiman held that Na'imah's application was neither frivolous nor vexatious, and that it raised legal questions warranting a substantive hearing. Federal counsel Sheryn Yong appeared on behalf of the Attorney General's Chambers during the proceedings. Previously, on Oct 18, 2024, the same court dismissed Na'imah's application for a temporary stay of the order requiring her to settle RM313.82 million in income tax arrears to the IRB. The court had ruled that there were no exceptional circumstances to justify the stay and affirmed that the respondent was empowered under the Income Tax Act 1967 to enforce collection. However, on Oct 28, 2024, the Court of Appeal unanimously allowed Na'imah's application for a temporary stay of the payment order.
The Sun
22-04-2025
- Business
- The Sun
Na'imah gets court nod to challenge RM313.8m tax claim
SHAH ALAM: The High Court today granted leave to Toh Puan Na'imah Abdul Khalid, the widow of former finance minister the late Tun Dr Daim Zainuddin, to commence judicial review proceedings to challenge the Inland Revenue Board's (IRB) tax claim of RM313.8 million. Her counsel, S. Saravana Kumar, stated that the court was satisfied that his client's application for leave had merit. Speaking outside the courtroom, Saravana Kumar said Justice Dr Shahnaz Sulaiman held that Na'imah's application was neither frivolous nor vexatious, and that it raised legal questions warranting a substantive hearing. Federal counsel Sheryn Yong appeared on behalf of the Attorney General's Chambers during the proceedings. Previously, on Oct 18, 2024, the same court dismissed Na'imah's application for a temporary stay of the order requiring her to settle RM313.82 million in income tax arrears to the IRB. The court had ruled that there were no exceptional circumstances to justify the stay and affirmed that the respondent was empowered under the Income Tax Act 1967 to enforce collection. However, on Oct 28, 2024, the Court of Appeal unanimously allowed Na'imah's application for a temporary stay of the payment order.
