LME won’t suspend warrants in Malaysia

Days before the deadline for the rollout of the goods and services tax (GST) in Malaysia, the London Metal Exchange has said its warranted stocks and other metals are not liable for GST, and has dropped its proposal to suspend warrants from July 1.

“The LME hereby withdraws its previous announcement to potentially suspend the issuing of LME warrants with effect from 1st July 2015 and confirms that such warrants may continue to be issued in the Malaysian locations of Johor Port and Port Klang,” it said in a notice. “The discussions to date with the ministry of finance and Malaysian customs have resulted in confirmation...

Published

Deepali Sharma

March 31, 2015

03:15 GMT

Singapore