Dear Valued Investors,

We wish to inform you that the Royal Malaysian Customs Department (RMCD) has announced an expanded scope of Service Tax (ST) effective 1 July 2025, which will be implemented in phases covering a broader range of financial services.

Following the issuance of Service Tax Policy (“STP”) 1/2025 (Amendment No. 2) by the RMCD on 17 September 2025, all taxable financial services including investment-related fees and charges will be subject to a ST of 8% with effect from 1 October 2025 (unless specifically exempted under the Service Tax Act 2018 and its legislation).

The fees that are subject to the 8% ST include (but is not limited to) the following:
1.   Sales Charge
2.   Management fees
3.   Performance fees
4.   Switching fees
5.   Repurchase Charge / Redemption Charge / Exit fees
6.   Transfer fees
7.   Placement fees/ Transaction fees
8.   Other services which may become subject to ST, as determined and announced by the relevant authorities from time to time.

Note:
1.   8% ST will be charged on all relevant fees from the effective date as determined by RMCD
2.   The 8% ST will be collected from you and remitted by us to RMCD. Where exemptions apply, no ST will be charged.
3.   The ST rate is subject to revision by the authorities from time to time.

Should you require any further clarification, please do not hesitate to contact our Customer Services Department via:
•   Call: 03-2634 2200
•   E-mail: operation@pbsn.com.my

Your investment interests remain our priority always.