Malaysian PVC converter: End product demand strong ahead of SST
Aug. 23, 2018
A pipe manufacturer in Malaysia reported that demand towards his end products has been good so far in August due to the fact that his customers are eager to secure extra volumes before the Sales and Services Tax (SST) comes into force in September.
“In our end product market, buyers are asking for extra quotas nowadays as they want to build some stocks before the new tax is introduced. We think that this may help PVC prices slightly increase in Malaysia,” the converter commented.
The Goods and Services Tax (GST) will be replaced by the Sales and Services Tax (SST) starting from September 1, 2018 as announced by Malaysia’s Finance Ministry on July 16. The reintroduction of the SST will see its rate set at 10% for sales and 6% for services.