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K8 Cargo: Businessman Seeks Joint Explanation from Finance Ministry, Customs, Petronas
🇲🇾 Malaysia /Economy & Trade

K8 Cargo: Businessman Seeks Joint Explanation from Finance Ministry, Customs, Petronas

From Utusan Malaysia · () Malay

Translated from Malay, summarized and contextualized by DistantNews.

At a glance

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  • A Malaysian businessman is urging the Ministry of Finance, Customs Department, and Petronas to jointly explain the regulatory and tax aspects of petroleum cargo handled via K8 declaration procedures.
  • The businessman cited a recent statement from the Malaysian Anti-Corruption Commission as the reason for seeking clarification.
  • He emphasized the importance of a clear explanation for the handling of petroleum cargo under the K8 process.

A Malaysian businessman is demanding a joint explanation from the Ministry of Finance (MOF), the Royal Malaysian Customs Department (JKDM), and Petronas regarding the regulation and taxation of petroleum cargo. Datuk Seri Jeyenderan Ramasamy, CEO of Maritime Network Sdn Bhd, stated that the clarification is necessary following a recent statement by the Malaysian Anti-Corruption Commission (MACC).

Ramasamy stressed that a unified explanation is crucial for understanding the procedures involved in handling petroleum cargo through the K8 declaration process. The businessman's call highlights concerns about transparency and compliance within the sector.

The businessman's appeal underscores the need for clear guidelines and oversight in the handling of valuable petroleum resources, particularly in light of anti-corruption efforts.

DistantNews Editorial

Originally published by Utusan Malaysia in Malay. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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