BATU KAWAN: The government has no plans, for now, to review the rounding mechanism to the nearest five cents, which has been in place since 2008.
Finance Minister II Datuk Seri Amir Hamzah Azizan said the current system is functioning well and does not disrupt business operations in the country.
“I think for now, the current system still applies. So, let the system continue as it does not affect existing businesses,” he told reporters briefly after chairing the Penang 2026 Budget Roadshow Programme here today.
He was commenting on local media reports suggesting that the rounding mechanism to the nearest five cents should be reviewed, as it disadvantages consumers while benefiting merchants, especially now that most payments are made online.
The rounding mechanism was announced by Bank Negara Malaysia (BNM) and officially adopted on April 1, 2008, to facilitate cash transactions following the withdrawal of one-sen coins from circulation.
Earlier, the Finance Ministry continued its efforts to involve various parties in the preparation of the 2026 Budget through the organisation of the roadshow, aimed at obtaining direct feedback from industry players and local stakeholders, which will serve as key input in drafting the Budget.
– BERNAMA
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