Latest News In July 2023

Will The OPR Rate Be Adjusted Again?

• On 3 May, BNM announced an increment of 0.25% in OPR rate, from 2.75% to 3%. The upcoming Monetary Policy Committee Meeting will be held in July, BNM will make another announcement on OPR latest rate. It is predicted that BNM will not make any adjustment and maintain the existing rate. 

POS Malaysia Increase International Surcharge 

• Continuous depreciation of the Ringgit Malaysia against US Dollar has increased the operating cost for international mail. To avoid losses, POS Malaysia decided to increase the surcharge for international mail by 5%. This action will be implemented starting 1 July.

Reduced in Stamp Duty Rate on Share Traded

• To revive the stock market, PM Anwar has announced to reduce the stamp duty rate on shares traded, from 0.15% to 0.10%, capped at RM1000. This action will be implemented starting 1 July.

Maybank Secure2u Function

• Starting 1 July, Maybank will enable Secure2u to replace MSOS Codes. All online transactions made need to be verified via MAE App.

Attaching Phone Number in SMS is Prohibited

• To prevent online scam, MCMC has made an announcement to prohibit any phone number being sent via SMS. This action will be implemented starting 2 July.

Opportunity to Appeal for STR Application

• The third phase for the STR was released on 26 June, and it is estimated that 8.4 million people will benefit. However, some applications are still being rejected. For these rejected cases, applicants can appeal starting from 3 July to 31 July via STR official website. Good luck!

Additional Charges for Household Electricity Consumption

• Starting from 1 July, a 10 cent surcharge for every kWh will be charged towards those household users with a monthly electricity consumption of more than 1500 kWh or a minimum electricity bill of RM708 per month. It is estimated that 83000 of household users will be affected. Their electricity bill will increase at least RM187 and not be eligible for 2 cent ICPT cashback per kWh.

Latest SOP on Mask Compulsory and Quarantine Period

• Due to the optimistic recovery from the epidemic, the Minister of Health is going to loose the SOP again. Starting 5 July, only people who are positive to Covid-19 and those who are inside medical institutions are compulsory to wear masks. Besides, the quarantine period is reduced to 5 days as well.

Public Holidays in July

• 07.07.2023: Penang Heritage Day（Penang Only）
• 08.07.2023: Penang Governor’s Birthday（Penang Only）
• 19.07.2023: Awal Muharram（All States）
• 22.07.2023: Sarawak Day （Sarawak Only）
• 30.07.2023: Sultan of Pahang’s Birthday（Pahang Only）
• 31.07.2023: Second Day of Sultan of Pahang’s Birthday（Pahang Only）

Important Dates in July