Tan (front row, second from right) and other KCCCI council members singing a song on stage during the anniversary dinner. — Photos: SHAARI CHEMAT/The Star
THE Klang Chinese Chamber of Commerce and Industry (KCCCI) wants the government to hear views of the business community before implementing proposals announced under Budget 2025.
Its president Datuk Jeffery Tan said this was because some proposals could have an impact on small and medium-sized enterprises (SMEs).
One of it was the planned multi-tier levy and mandatory Employees Provident Fund (EPF) contributions for foreign workers, which he said could affect the competitiveness of enterprises that relied heavily on foreign workers.
“Some sectors, which the locals are reluctant to join, have a heavy reliance on foreign workers.
Children dressed in traditional costumes for a performance.
“Hence, the multi-tier levy and mandatory EPF contributions could burden businesses, particularly SMEs, as their costs increase further.
“We hope the government listens to the voices of the business community and make adjustments to these proposals,” he said in his welcoming address during KCCCI’s 78th anniversary dinner in Klang, Selangor.
Tan also urged the government to exercise consideration in expanding the sales and service tax (SST), which is set to include fee-based financial services and non-essential food items starting May next year.
“We strongly believe that goods and services tax (GST) is a fairer and more comprehensive tax regime.
“This is to minimise its impact on key industries such as tourism, which is one of the biggest contributors to the country’s economy in the post-pandemic era,” he said.
Tan said the long-term impact of the proposed 2% dividend tax on individual shareholders with annual dividend income exceeding RM100,000 from Malaysian shares should not be neglected, as it could affect investors’ confidence in Malaysian markets.
Nevertheless, he lauded Budget 2025 as being able to help vulnerable groups and maintain the government’s fiscal stability.
Also present at the dinner were Associated Chinese Chambers of Commerce and Industry of Malaysia life honorary president Tan Sri Ter Leong Yap and Selangor investment, trade and mobility committee chairman Ng Sze Han.
A 24-drum performance during KCCCI’s 78th anniversary in Klang.
In his speech, Ter said educational reforms and industrial transformations were essential to free Malaysia from the middle-income trap.
“Our industries need to progress from the current production-driven model to foster an innovation-driven ecosystem.
“Though the global economic situation is quite challenging at the moment, it can also be a chance for us because Malaysia possesses a unique advantage, especially in the semiconductor and data industries, due to its strategic location,” he said.
He also noted that the rise of the two sectors could drive Malaysia out of the middle-income trap to become a high-income nation.
Ng praised KCCCI for providing good advice and opinions to Selangor government in managing the economy and helping to improve business environment in the state.
He also said high-tech enterprises and government-linked companies in Turkiye had shown interest in investing in Selangor’s semiconductor industry.
At the dinner, guests were entertained by a 24-drum performance, songs and dances.
KCCCI council members also sang a song and cut a cake on stage to celebrate the anniversary.
