Malaysia’s Price range 2024 (Bajet 2024) is being tabled by finance minister and prime minister Datuk Seri Anwar Ibrahim in parliament. As with previous editions of the Price range, we can be monitoring his speech for any issues associated to the automotive and transport sectors.

Among the many key speaking factors this yr has been the focused subsidy programme, which the federal government expects to implement early subsequent yr, with its timeframe primarily based on the scheduled launch of the Pangkalan Information Utama (PADU) socio-economic database this November.

Electrification can be anticipated to stay on the agenda, as Malaysian Automotive Affiliation (MAA) proposed that new electrification incentives be given below Price range 2024, for every type of electrified automobiles (xEVs), and never simply battery-electric automobiles (BEVs).

Within the final version that was the retabled Price range 2023, the present import obligation and excise obligation exemption for fully-imported (CBU) EVs has been prolonged to December 31, 2025, which was initially to finish on December 31, 2023, earlier than the primary tabling of Price range 2023 noticed this prolonged to December 31, 2024.

The identical, too, was granted for locally-assembled (CKD) EVs. Initially set to run till December 31, 2025, it has been prolonged by two years to December 31, 2027.

Along with automotive sector-related factors, we will even be looking forward to information associated to public transport and infrastructure. Stay updates can be posted right here, so keep tuned.

LIVE UPDATE POINTS

Diesel subsidy will transfer from blanket to focused, in phases

• Transfer is to cut back severe leakage, smuggling
• Present market value is RM3.75 per litre, subsidy is RM1.60 per litre
• Items automobiles/logistics to proceed having fun with subsidy, others to pay larger value
• Full story right here

Street upgrades throughout the nation

• Govt commits to motion inside 24 hours upon receiving complain on broken federal roads
• State govts to make use of MARRIS finances of RM5.4 billion to make sure that state roads are in good situation
• Subsequent yr, RM2.8 billion allotted to keep up federal roads and bridges – whole RM8.2 billion
• RM100 million to interchange avenue lamps to LEDs for electrical energy financial savings of as much as 60%
• RM50 million for native councils to do the identical
• RM50 million to make excessive accident fee spots safer, set up good site visitors lights for smoother movement

Service tax to extend from 6% to eight% in 2024

• Automobile servicing labour fees to price extra
• Service tax solely applies to labour, not elements
• F&B, telco sectors exempted from improve
• Full story right here

Govt on EVs

• Govt to proceed to spice up native EV trade and encourage client acceptance
• Firms like TNB, Gentari, Tesla Malaysia to speculate over RM170 million to put in 180 EV chargers – full story right here
• To spice up use of electrical bikes, a scheme for rakyat incomes beneath RM120k every year will present RM2,400 rebate – full story right here

Electrical buses for LRT3

• For LRT3, Prasarana will purchase 150 electrical buses and construct three depots at a value of RM600 million – full story right here

Private revenue tax reduction for EV charging

• Private revenue tax reduction of as much as RM2,500 on EV charging tools, companies prolonged to 2027
• Not a brand new measure, however prolonged
• Tax exemption for price of EV rental for 2 years

Federal govt to make use of EVs as official automobiles

• Federal administration to make use of EVs as official automobiles
• Putrajaya to be low carbon mannequin metropolis in Malaysia
• Photo voltaic panels on roof of govt buildings with the cooperation of TNB, Gentari
• Full story right here

Income from promoting particular quantity plates can be used to help rakyat

• A part of proceeds from gross sales of particular quantity plates can be used to cut back burden of needy rakyat
• Govt to proceed supporting driving take a look at charges for B2 bikes, e-hailing, taxi – will profit 40k youths
• 100k helmets, together with for youngsters, can be distributed without spending a dime to the needy
• Full story right here

Rural infrastructure

• RM1.63 billion to construct and improve rural and kampung roads
• RM134 million for the set up of 60k avenue lamps, upkeep of over 500k present ones
• RM57 million for 115 tasks together with 54 for improve/constructing brigdes
• Full story right here

LRT3 line regains 5 stations

• Govt has given inexperienced mild to reinstate 5 previously-cancelled LRT3 stations, price is RM5.3 billion
• The stations are Tropicana, Raja Muda, Temasya, Bukit Raja and Bandar Botanik
• The one station not revived is Persiaran Hishamuddin, Shah Alam
• Full story right here

Penang LRT

• LRT Pulau Pinang to Seberang Perai – early estimates put price at RM10 billion, as deliberate by the Penang state govt
• To be carried out by way of public-private partnership
• Full story right here

Seeking to promote your automobile? Promote it with myTukar.

Tags: Price range 2024