GST Revival Calls, Ringgit Movements & Crude Oil Surge: How Three Trends Are Shaping Malaysia's Freight Forwarding Costs
Daily Industry Briefing
Today's three top stories each touch a different cost driver for Malaysian importers: tax costs, currency exchange costs, and shipping costs. UMNO has renewed its call to restore GST, creating tax policy uncertainty; the ringgit is fluctuating ahead of decisions from the Fed and the Bank of Japan, directly affecting the actual cost of purchasing foreign currency to pay for freight forwarding fees and duties; and a Saudi pipeline disruption has pushed Brent crude to USD107, which could feed through to marine fuel surcharges in the coming weeks.
Today's Top 3
1. UMNO Renews Call to Restore GST, Rejects GST-SST Hybrid Tax System
Prime Minister Anwar previously stated that the government is willing to study incorporating GST elements into SST to create a more progressive tax system
Free Malaysia Today · 2026-09-11 · Read Original ↗
2. Ringgit Opens Higher Ahead of Fed and Bank of Japan Decisions
On the morning of September 15, the ringgit was quoted at 4.0705/4.0775 against the US dollar, stronger than the September 14 close of 4.0735/4.0770
Free Malaysia Today · 2026-09-15 · Read Original ↗
3. Saudi Pipeline Disruption Sends Brent Crude Soaring to USD107, Threatening to Push Up Freight Rates
Brent crude is currently hovering around USD107 per barrel
The Star · 2026-09-14 · Read Original ↗
HASTE Insights
Three Numbers That Will Determine Your Next Shipment's Final Cost
UMNO President Zahid has publicly called for the restoration of the 6% GST and rejected a GST-SST hybrid proposal. While this is currently only a party position rather than government policy, it carries real significance for freight forwarding customers: since SST replaced GST in 2018, the way import-stage tax filings are handled has differed from the GST era. If the system genuinely shifts back to GST or a hybrid model in future, the basis for calculating dutiable value at customs clearance and the rules for input tax credits could both be revised. There's no need to panic at this stage, but customers shouldn't assume the current SST rules are set in stone—it's advisable to build some flexibility into your financial systems to accommodate a potential tax system change.
This is a condensed version. The full briefing, with every key point, the cost comparison table and the recommended actions, is published on the Haste website:
The tax, exchange rate, and freight information described in this article is drawn from publicly available news reports and is for reference only. It does not constitute tax or investment advice. Please refer to official announcements and carrier quotes for specific details.
15 Sep 2026
