(Reuters) -Electronic Arts is laying off hundreds of workers and is canceling a Titanfall game that was in development at its Respawn Entertainment unit, Bloomberg News reported on Tuesday.
KUALA LUMPUR: The postponement of the implementation of the expanded scope of the sales and service tax is expected to result in a short-term decline in government revenue, but it also signals an opportunity for traders, the market, and households to prepare for upcoming economic challenges, said an economist.
The SST expansion, initially slated for implementation in May 2025 as announced in Budget 2025, will now be deferred to a later date, a Ministry of Finance spokesperson confirmed to Bernama, in response to a report on the delay. Mohd Afzanizam added that the government must tread carefully in implementing the SST, as it will also affect companies and export-oriented traders, particularly given that reciprocal tariffs between the US and other countries place additional pressure on open economies like Malaysia.
Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research, Mohd Sedek Jantan, said the government is likely mindful of public sentiment, especially given that the SST expansion could be perceived as adding to the cost of living at a time of economic uncertainty. "It shows that the government is attempting to address issues from multiple angles before implementing policies that directly impact the rakyat. The aim is to ensure a smoother rollout with minimal disruption to businesses, consumers and society at large," he said.
SST US Tariff Economic Malaysia GDP Deficit Fiscal Mohd Afzanizam Abdul Rashid Mohd Sedek Jantan
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