S'pore businesses concerned about rising costs in Malaysia

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Some Singapore businesses said they are worried that higher fuel prices in Malaysia would result in higher operating costs after Malaysian Prime Minister Najib Razak on Monday announced that he would cut fuel subsidies to shore up public finances.

Singapore imports about 160,000 live poultry from Malaysia daily -- mostly from Malacca and Perak -- and they are transported by lorries.

Singapore's Poultry Merchants' Association is worried that Malaysian farms may increase the price of live poultry.

Meanwhile, tour bus operators said the fuel price hike could add up to a significant increase in costs due to the long distances buses need to travel, about 60 ringgit more per trip to Genting and about 100 ringgit more to Penang, which translates to an increase in cost of about 4,000 to 5,000 ringgit a day and over 100,000 ringgit a month.

The only respite is that the strong Singapore dollar against the ringgit may temporarily help to soften the impact of higher fuel prices in Malaysia.