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Budget preview Tobacco may be biggest loser

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Budget preview Tobacco may be biggest loser Empty Budget preview Tobacco may be biggest loser

Post by Cals Mon 29 Sep 2014, 21:50

Budget preview Tobacco may be biggest loser
Business & Markets 2014
Written by Surin Murugiah of theedgemalaysia.com   
Monday, 29 September 2014 08:32

KUALA LUMPUR (Sept 29): The tobacco sector may be the biggest loser with a potential 8% to 18% excise duty hike, whilst the property sector could be spared of any adverse measures in the upcoming Budget 2015, according to Hong Leong IB Research (HLIB).
In a Budget preview Monday, the research house said it expects socioeconomic focus, with negligible impact on market.
HILB said it expects the budget to be mildly expansionary, and balanced between growth and reduce deficit.
“Government to introduce GDP range forecast of 5.5-6.0% for 2015 and determined in slashing fiscal deficit to 3.0%.
“Inflation to average 4.0% but measures to reduce cost of living to continue taking center stage,” it said.
The research house said it expects multi-tiered fuel subsidy scheme effective Jan-15.
HLIB said there could be possible minimum wage hike with measures to enhance productivity.
“Expected commitment for reforms long term positive but already factored in and unlikely to boost sentiment.
“Potential minimum wage hike help mitigate cost of living but may impact sectors with high labour content.  However, unless significant hike, margins largely intact,” it said.
HLIB said the construction sector was expected to benefit from project implementations but most projects were not new and have already been priced in.
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