How much did Lynas invest in plant and equipment in Malaysia?

Question

Accepted Answer

Lynas Malaysia Invested RM3 Billion in Plant and Equipment

Lynas Malaysia Sdn Bhd has invested RM3 billion in plant and equipment within Malaysia. The company stated that the benefits offered to them for this investment are consistent with those provided to other foreign investors.
Pioneer Tax Status Benefits Are Standard Practice

The Malaysian government awards Pioneer Tax Status to attract foreign direct investment in projects deemed of national and strategic importance, typically involving substantial capital investment, new technologies, and specialised machinery. These tax incentives are a standard global practice, with their duration often determined by the scale of the investment. Lynas qualified for this status upon its invitation to invest in Malaysia.
Tax Exemptions Apply Specifically to Rare Earth Manufacturing

While Lynas received a tax exemption on the manufacture of rare earth products under its Pioneer Tax Status, the company clarified that it pays taxes on non-rare earth-related business activities, similar to other corporations. This distinction addresses reports that the company had not paid corporate taxes for 12 years due to its tax-exempt status.
Significant Annual Spending and Job Creation

Beyond its capital investment in plant and equipment, Lynas Malaysia reports an annual expenditure of RM730 million within the country. This economic contribution has also facilitated the creation of approximately 4,600 direct and indirect local jobs.

Reading history

Hide →

This history is cleared when the page is closed.

How much did Lynas invest in plant and equipment in Malaysia?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends