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SATURDAY | JUNE 7, 2025

Samenta heartened by IRB’s moves on e-invoice mandate

Glut, price pressures stall glove industry recovery: PublicInvest KUALA LUMPUR: The Malay sian glove sector remains under pressure as persistent oversupply, cautious customer sentiment and pricing com petition continue to weigh on recovery prospects. In a research note released yesterday, Public Investment Bank Bhd (PublicInvest) stated that the latest quarterly results from glove manufacturers under its coverage showed a sequential decline in sales volumes, primarily due to earlier front-loading activities by cus tomers in the United States. “We gather that customers remain cautious, with most adopting a wait-and-see stance, delaying sizeable purchases amid uncertainty from changes in tariff policy. “In light of subdued de mand visibility in the near term, we downgrade our sector call to ‘Neutral’ from ‘Overweight’,” said Public Invest. It also said price competi tiveness remains a key head wind. Although tariff adjust ments have narrowed the average selling price gap bet ween China and Malaysia, China’s glove prices remain relatively uncompetitive in the US market. Specifically, China’s price is US$27 (RM114) per 1,000 pieces, compared to Malaysia’s US$20 per 1,000 pieces, even factoring in an 80% tariff. “However, the recent invo cation of emergency powers has prevented US President Donald Trump from enacting broader tariff hikes. Assuming a more conservative scenario where China faces only a 10% reciprocal tariff, China’s ASP will be at US$24 per 1,000 pieces, significantly closing the pricing gap with Malaysia,” it added. The research house said that Chinese producers may absorb part of the tariff cost to defend market share, which would likely keep global ASPs subdued and limit near-term recovery for Malaysian glove makers. “Despite losing market share in the US market, Chinese glove manufacturers are ag gressively increasing market share in the non-US market, especially the European Union, pricing as low as between US$14 to US$15/1k pcs. “China is currently expan ding capacity outside of China in a bid to retain global com petitiveness,” it added. – Ber nama

petroleum gas, Ng said: “In response to the concerns of our street-level food operators, the temporary waiver of liquefied petroleum gas permit requirements will go a long way in safeguarding the daily livelihoods of thousands of families and small traders. It may be a small admi nistrative change, but it carries significant implications for business continuity and the cost of living.” Without these timely measures, he said, Malaysia could have faced the potential collapse of thousands of small businesses, particularly those in the micro and informal sectors. Ng said the government’s pro active stance has averted what could have become a national micro business crisis. “More importantly, these deci

invoicing requirements until Jan 1, 2026, for businesses earning below RM5 million a year provides SMEs with much-needed time to prepare, strengthen their skills and adjust to new demands. This flexibility is essential for SMEs to survive and grow in today’s changing economic environment, he added. On Thursday, IRB announced that the e-invoicing implementation for taxpayers with annual income or sales between RM1 million and RM5 million is postponed to Jan 1, 2026, while those below RM500,000 are exempted, and the deadline for those up to RM1 million is extended to July 1, 2026. The board also set a new e invoicing implementation timeline: Phase 3 for taxpayers with annual income or sales between RM5 million and RM25 million starts on July 1, 2025; Phase 4 for those earning RM1 million to RM5 million begins on Jan 1, 2026; and Phase 5 for taxpayers with income up to RM1 million will commence on July 1, 2026. On the government’s decision to postpone the permit requirement for the use of subsidised liquefied

o ‘Exemption for micro businesses brings relief, and postponement of deadline for certain SMEs gives them more time to prepare and adjust’

PETALING JAYA: The Inland Revenue Board’s (IRB) decision to exempt micro enterprises from e invoicing and to give small and medium enterprises more time to comply with the mandate is a positive step that will help ease the current difficulties faced by businesses in the country. The Small and Medium Enter prises Association of Malaysia (Samenta) stated that IRB’s moves are not only timely but also reflect an understanding of the real challenges faced by small businesses on the ground. “We have provided input on both issues, and we are grateful that the KUALA Solid-liquid filtration solutions provider Pan Merchant Bhd seeks to raise RM67.6 million from its initial public offering (IPO) for its listing on the ACE Market of Bursa Malaysia for international expansion. Of the total proceeds, the company will allocate RM62.7 million for capital expansion, of which RM28 million will be used to expand its manufacturing plants, including the acquisition of machinery, equipment and tools, as well as renovations to its manu facturing facilities. A further RM7 million will be allocated for product development and the remaining RM27.7 million for business expansion, general working capital and defraying listing expenses. The goal of the IPO is to grow the group’s global market share to 2%-3% through further global expansion, particularly in Europe and America. Managing director Wong Voon Ten said the company aims to stay ahead in the industry by emphasising research and development (R&D), sharpening the performance of products, experimenting with new materials and technology, and staying agile in addressing the evolving demands of international clientele. “In tandem with this, we are ramping up our manufacturing capabilities. From investing in the latest machinery and expanding Ű BY MAHADHIR MONIHULDIN AND HAYATUN RAZAK sunbiz@thesundaily.com LUMPUR:

government has shown genuine care and support for our most vulnerable enterprises,” Samenta national president Datuk William Ng ( pic ) said. “We are especially heartened by the government’s decisive move to permanently exempt businesses earning less than RM500,000 annually from the e-invoicing mandate. This exemption spares our smallest traders, hawkers and family-run shops, many operating without digital infrastructure, from compliance burdens that could have forced them to shut down or operate informally,” he added. Ng said the postponement of e

sions send a clear message that the government sees SMEs as a central pillar of our economy and is res ponsive and willing to amend policies based on feedback from the ground,” he said, adding that Malaysia is a country where small businesses are treated with respect and under standing. Pan Merchant eyes RM67.6m from IPO for global expansion

From left: Pan Merchant Bhd directors Viyasan K Krishnan and Datin Ooi Swee Lian, executive directors Lee Cheng Ngee and Wong Nyeon Thiat, chairman Datuk Tan Leh Kiah, Voon Ten, Affin Hwang Investment Bank Bhd managing director, client coverage and corporate development Wan Mohd Firdaus Wan Mohd Fuaad, head of corporate finance A. Hisham Md Hashim, Pan Merchant executive directors Wong Voon Yoong and Wong Voon Shek, and directors Datuk Seri Nurmala Abd Rahim and Fong Kit Chiu at the prospectus launch.

enlarged share capital. The group aims to distribute at least 30% of its annual audited net profit after tax to reward its shareholders. Pan Merchant is scheduled to list on the ACE Market on June 26. Affin Hwang Investment Bank Bhd is the principal adviser, sponsor, sole placement agent and sole under writer for the group’s IPO.

automation to introducing new production lines, these improvements are designed to boost consistency, precision, and production scalability in line with our global growth ambitions,“ he said at the launch of the IPO prospectus yesterday. Wong said the US and European markets represent high potential opportunities for premium solid-liquid

filtration systems. “We are confident our offerings are well-aligned with the expectations and standards of these discerning markets.” The IPO involves a total of 250.2 million ordinary shares in Pan Merchant, which includes 232.2 million new shares and 18. million offer-for-sale shares. The total number of shares represents 27.3% of the