15/06/2026

BIZ & FINANCE MONDAY | JUNE 15, 2026

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Stamp Duty SVDP coming to an end soon

PLI rolls out next-gen Petronas Syntium for enhanced engine protection and fuel efficiency PETALING JAYA: Petronas Lubricants International (PLI) has introduced the next generation of its all-new Petronas Syntium as part of a phased global rollout, featuring upgraded formulations that meet the latest API SQ and ILSAC GF-7 standards. Developed through decades of Formula One-winning experience and fluid tech nology solutions expertise, the new range is designed to deliver enhanced engine protection, fuel efficiency and performance, bringing motorsport-proven technology into everyday reliability for motorists. Rather than offering a single catch-all solution, the portfolio comprises four purpose-built variants, each developed to meet specific driving needs, from high performance and Japanese engines to everyday vehicles and hybrid powertrains. The new range simplifies the choice for consumers, offering a streamlined selection of oils that meet the latest industry standards while supporting improved fuel efficiency and engine performance. Syntium Supreme: Designed for high performance vehicles. Featuring CoolTech+ technology, it cuts engine wear and maximises fuel efficiency by up to 13%. Petronas Syntium Supreme GLV2: Made ideally for Japanese engines. JASO GLV-2 approvals assure up to 19% better fuel efficiency and a higher shear stability for highly demanding Japanese cars. Petronas Syntium Prime: Reliable, long lasting engine defence for everyday vehicles, featuring Active Defense tech nology to ensure consistent performance across everyday driving conditions for stress-free driving. Petronas Syntium Hybrid: Specifically engineered to meet the unique demands of hybrid powertrains. CoolTech-H technology delivers targeted protection during frequent stop-start cycles and across the lower operating temperatures typical of hybrid operation. Based on industry standard testing, where Petronas Syntium Supreme exceeded the ACEA C5 fuel economy limit. Actual performance may vary by vehicle and driving conditions. Based on field trial data over a 12,000km test under real-life driving conditions, comparing 0W-20 JASO GLV2a against API SQ/GF-7 reference oil. Actual fuel efficiency may vary depending on vehicle model, driving behaviour and operating conditions. PLI regional managing director Asia Noorhana Abdul Habib said, “The new Petronas Syntium range marks a defining step in advancing lubricant innovation, delivering uncompromising quality solu tions to workshops and motorists across Malaysia and Asia. Powered by next-generation formu lations aligned with the latest API SQ standard, it enhances fuel efficiency and engine performance, empowering motorists with cutting-edge technology that delivers excellence in every drive.” The all-new Petronas Syntium range has been launched in Malaysia, Japan and selected European markets. The rollout will expand across key Asia Pacific markets throughout the year, making the range available at Petronas AutoExpert locations and authorised workshop net works in countries including China, Indonesia and Thailand by the end of this year.

T HE Stamp Duty Special Voluntary Declaration Programme (SVDP), which commenced on Jan 1 this year, is scheduled to end on June 30. One of its key benefits is the waiver of penalties on overdue stamp duties, allowing taxpayers to regularise their stamp duty affairs at a substantially lower cost. The programme covers instruments executed between Jan 1, 2023 and Dec 31, 2025. Instruments submitted under the SVDP will generally be accepted without an audit, although Malaysia’s Inland Revenue Board (IRB) has indicated that selective test checks may be conducted to preserve the integrity of the programme. A common concern among taxpayers is whether the IRB will review periods prior to 2023. Based on explanations provided during public engagement sessions, the general understanding is that while the IRB may possess the legal authority to do so, it is not the intended focus of the current SVDP exercise. This appears consistent with the programme’s objective of promoting voluntary compliance and raising awareness of stamp duty obligations. Time is critical With about 15 days remaining before the SVDP closes, taxpayers who have yet to assess their stamp duty exposure should act without delay. Unlike previous tax amnesty He said Malaysia’s experience in operating research reactor has provided the country with a strong foundation to advance its nuclear energy ambition as part of its future power mix. “We have been working with your country, and there is a strong interest that has been manifested to us by the government to explore more systematically the possibility of acceding to nuclear energy,” he said at a media conference with journalists participating in the IAEA Journalists Seminar held here. Grossi said having a research reactor was “certainly a very good, solid basis” for Malaysia, as it also meant the country already had people familiar with nuclear technology and reactor operations. “There are many people in Malaysia who know nuclear technology and know what a nuclear reactor is,” he added. Malaysia operates the Triga Puspati Reactor, the country’s only nuclear research reactor, which began operations in 1982 and reached first criticality on June 28 of the same year. Located at the Malaysian Nuclear Agency in Bangi, Selangor, the reactor has been used for training, research, isotope production and other scientific applications. Malaysia has been actively exploring the potential of developing nuclear power as part of strategy to diversify its energy mix, secure clean and reliable electricity supply,

and higher penalties, and new penalties for failures such as submitting incorrect returns or failing to maintain records. The IRB has already increased its stamp duty audit activities, and this trend is expected to intensify. Historically, many taxpayers paid limited attention to stamp duty compliance, particularly for related party and intra-group transactions, on the assumption that stamping was only necessary if a document might be relied upon in court. Such assumptions are unlikely to withstand the current enforcement landscape. The way forward As awareness of the SVDP increases, there has been a noticeable surge in voluntary disclosures. However, with the deadline fast approaching, many taxpayers may struggle to complete the necessary review and submission process by June 30. Given the complexity of the stamp duty regime and the programme’s objective of promoting voluntary compliance, there may be merit in considering a further extension of three to six months. Such an extension would allow more taxpayers to regularise their affairs and support the broader goal of improving long-term stamp duty compliance. This article is contributed by Thannees Tax Consulting Services Sdn Bhd managing director SM Thanneermalai (www.thannees.com). additional assessments,

programmes, participation in the SVDP is not merely a matter of paying additional tax without providing the underlying docu ments and basis. Taxpayers are required to identify instruments that were not stamped or insufficiently

stamped, determine whether they are chargeable to duty, calculate the applicable duty and upload the relevant

information and documents through the e-Duty Stamp portal. For businesses with large volumes of contracts and agreements, this can be a time-consuming exercise. The process is complicated by the fact that many provisions of the Stamp Act 1949 were drafted decades ago using terminology that does not always fit neatly with modern commercial transactions. As a result, determining the correct stamp duty treatment may require careful analysis and interpretation. Post-SVDP Taxpayers should not assume that the end of the SVDP marks the end of the IRB’s focus on stamp duty compliance. On the contrary, the post-SVDP period is expected to usher in a more robust enforcement environment. The amendments that took effect from Jan 1, 2026 have significantly strengthened the administration of the Stamp Act 1949. Among the key changes are statutory audit powers, the ability to review records for up to five years, the issuance of assessments

IAEA: M’sia on solid footing to pursue nuclear power VIENNA: Malaysia is well-positioned to pursue a nuclear power programme, having built a long-standing tradition and expertise in nuclear technology, International Atomic Energy Agency (IAEA) Director-General Rafael Mariano Grossi said.

The Triga Puspati Reactor in Bangi is Malaysia’s only nuclear research reactor. – MALAYSIAN NUCLEAR AGENCY PIC VIA BERNAMA

According to IAEA, as of January 2026, about 70 newcomer countries in Africa, Latin America and Asia, are either pursuing or exploring nuclear energy as part of their national development agenda. Malaysia is among 28 countries currently in the decision-making phase, where governments are assessing the feasibility of embarking on nuclear power programmes. Grossi said the IAEA provides assistance to countries embarking on nuclear power programmes, including helping them develop the necessary capacity and establish national nuclear regulatory bodies. – Bernama

and strengthen national energy security agenda. The ambition was also outlined under the 13th Malaysia Plan (2026-2030), which identifies nuclear energy as a viable source of clean electricity in the national energy mix, with implementation targeted to begin from 2031. The move comes amid growing electricity demand, the need to reduce dependence on fossil fuels, and Malaysia’s commitment to achieve net-zero greenhouse gas emissions by 2050 as well as concerns over the current global energy crisis caused by the West Asian conflict.