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PETALING JAYA : The Malaysian economy is very stable and among the contributing factors is the implementation of the Goods and Services Tax (GST) in April last year, said Prime Minister Datuk Seri Najib Tun Razak.

Najib, who is also the Finance Minister, said the Customs Department had collected more than RM51 billion in revenue since the implementation of the GST, compared with a collection of RM37.2 billion in 2014 without the GST.

He described the additional collection as oxtraordinary and higher than the original projection which enabled the government to face the economic uncertainty in the world economy currently.

Speaking at the 34th World Customs Day celebration, here Thursday, Najib said the government was still able to provide various other facilities including scholarships and other assistance such as the 1Malaysia People's Aid (BR1M) despite the drop in the price of world crude oil currently.

"GST does not burden the people, on the contrary the GST is savior of the people. With the drop of crude oil to around US30 per barrel, Malaysia is still able to retain all the civil servants, we did not terminate the services of anyone including those appointed on contract,"

KUALA LUMPUR : The Trans-Pacific Partnership Agreement (TPPA) is not a trade agreement designed solely by the United States (US), said Minister of International Trade and Industry Datuk Seri Mustapa Mohamed.

Malaysia which is one of the member countries was also involved in formulating the draft for the international agreement which also involved 11 other countries, he said. 

"Malaysia is responsible for preparing the drafts for Chapter 6, 21 and 24 which are related to cooperation and

KUALA LUMPUR : The ringgit extended yesterday's gain to open higher against the US dollar today on the continued upward momentum in global oil prices, dealers said. 

At 9.05 am, the local unit strengthened to 4.3420/3500 from 4.3780/3870 against the greenback on Thursday.

The ringgit also traded higher against other major currencies. 

It rose slightly against the Singapore dollar to 3.0311/0388 from 3.0426/0506 on Thursday, and went up against the yen to 3.6887/6971 from 3.7460/7550. 

It

SINGAPORE - Malaysia's drive to develop a world-class infrastructure and transport network propelled it to the fourth spot in a closely watched annual ranking of the world's 45 leading emerging markets.

Malaysia surged past Saudi Arabia (5), Brazil (6) and Indonesia (7), according to 2016 Agility Emerging Markets Logistics Index.

The index ranks emerging markets based on their size, business conditions, infrastructure and other factors that make them attractive to logistics providers, freight

KUALA LUMPUR : The ringgit opened higher against the US dollar Wednesday in tracking the rebound in crude oil prices and on renewed demand, dealers said.

At 9 am, the local unit was traded at 4.2580/2640 from 4.2885/2945 against the greenback on Tuesday.

"Investors are also closely watching the US Federal Reserve's meeting this week, since it will be the first (meeting) since interest rates went up in last December," said a dealer.

The ringgit also traded mostly higher against other major

KUALA LUMPUR : There will be no budget cut for micro-financing activities in the recalibrated Budget 2016 to be presented on Jan 28, Ministry of Finance Under-Secretary for Strategic Investment Division Datuk Ahmad Badri Mohd Zahir said.

"We are in the midst of recalibrating the budget. We are probably not going to cut anything (for micro financing)," he told reporters on the sidelines of the ASEAN Microfinance Conference here Wednesday.

He said the government has allocated more than RM200

Chief Minister Tan Sri Adenan Satem said the Sarawak government supported the Trans-Pacific Partnership Agreement (TPPA).

He said every country in the world now asked for global rating systems and could not be isolated anymore or it would end up like North Korea.

"I quite agree with Datuk Seri Mustapa Mohamed (International Trade and Industry Minister) on the TPPA.

"In an open society that opens up markets and to have that edge in competitiveness to our economy, we don't have any choice and

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