|COVID–19 NEWS||COVID: Over half of adolescents in Sabah given first dose of vaccine | COVID: Only 1.5 per cent of 13,104 new cases in categories 3, 4 and 5 | EMCO at two localities in Pahang from Tuesday - MKN | Transition to COVID-19 endemic phase can lift Malaysia out of the doldrums | Terengganu opens one more PKRC from today ||
KUALA LUMPUR, July 1 -- Freight Management Holdings Bhd's (FMHB) wholly-owned subsidiary FM Global Logistics (M) Sdn Bhd (FMGLM) is required to invest at least RM245 million for the development of an e-commerce fulfilment hub in Shah Alam, Selangor, to qualify for the Investment Tax Allowance.
The freight services provider said that earlier this month, FMGLM received the approval letter from the Malaysian Investment Development Authority (MIDA) on the revision of conditions for the tax incentive for the integrated logistics services industry.
The letter stipulated that FMGLM is required to make investments in capital expenditure related to integrated logistics services activities, including e-commerce fulfilment hub activities, of at least RM245 million, FMHB said in a filing with the stock exchange.
“The company will proceed to finalise the plans for the development of integrated logistics services activities and e-commerce fulfilment hub activities in accordance with the conditions of the approval letter.
“The tax incentive is expected to contribute positively to the future earnings of the group,” it said.
Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at www.bernama.com ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial