BUSINESS > NEWS

SD GUTHRIE, SP SETIA SEE MINIMAL IMPACT OF TARGETED DIESEL SUBSIDY ON BUSINESS OPERATIONS

06/06/2024 05:57 PM

KUALA LUMPUR, June 6 (Bernama) -- Palm oil producer SD Guthrie Bhd and property developer S P Setia Bhd anticipate minimal impact on their business operations following the implementation of the diesel subsidy rationalisation programme by the goverment. 

SD Guthrie (formerly Sime Darby Plantation Bhd) said in a statement today that it supports the recent announcement by Prime Minister Datuk Seri Anwar Ibrahim on the rationalisation of diesel subsidies.

The company said it has always purchased diesel at market price, without any form of subsidy or preferential pricing.

“Thus, when this rationalisation plan is implemented, it will not have any material impact on the cost of purchasing diesel,” it said.

Furthermore, it said that such initiatives to remove subsidies and return to market prices would significantly enhance the prosperity of all Malaysians.

In a separate statement, S P Setia is optimistic that the government’s diesel subsidy rationalisation would have minimal direct impact on its business operations as its operations were not directly reliant on subsidised diesel.

“Nevertheless, we recognise the possibility of knock-on effects within the broader supply chain,” it noted.

SP Setia president and chief executive officer Datuk Choong Kai Wai underscores the company’s emphasis on cost control and operational efficiency to foster sustainable growth through these economic shifts.

“The company is streamlining its supply chain and embracing digital and renewable solutions to optimise costs and environmental impact,” he said. 

As reported earlier, the targeted diesel subsidy implementation is expected to save the government around RM4 billion annually.

-- BERNAMA


BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2024 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy