Govt to set up National Digital Inclusion Council — Dr Mahathir
PUTRAJAYA (Oct 16): The Government will set up the National Digital Inclusion Council to focus on creating digital economy income opportunities for the people, said Prime Minister Tun Dr Mahathir Mohamad.
The council, to be headed by Dr Mahathir, will comprise representatives from the Ministries of Economic Affairs; Finance; Communications and Multimedia; Women, Family and Community Development; Rural Development; Housing and Local Government; and Agriculture and Agro-based Industry.
Also in the council are the Ministries of Tourism, Arts and Culture; Transport; Entrepreneur Development; Youth and Sports; Human Resources; and Federal Territories.
Speaking to reporters after chairing the 30th Multimedia Super Corridor (MSC) Malaysia Implementation Council Meeting at Perdana Putra here today, Dr Mahathir said the Government must focus on getting its execution right and achieve results in the fastest time possible.
“Ministries and agencies must collaborate and work together to ensure delivery to the rakyat. As public officers, we must play our part to earn the trust of the people,” he said.
At the press conference, Dr Mahathir recalled his good old times on MSC and felt that he was reviving something that he himself started a long time ago.
“Long time ago, we set up the MSC and we focused on new technologies. But that time there was no telefon bimbit (mobile phone) and very limited equipment.
“But after I stepped down for 15 years and I lost touch with the business, I am now introduced to new words which I don't understand,” he said, citing ‘sandbox’ as an example.
“I don't know how sandbox has got into this highly sophisticated equipment,” he said.
Since its establishment in 1996, Dr Mahathir said MSC had created 183,000 high-value jobs in almost 3,000 companies with total revenue of almost RM500 billion.
Dr Mahathir said he was proud to note that Malaysia's local tech champions were now recognised as global players and for example, Aerodyne, which specialises in artificial intelligence (AI)-driven drone-based technology, was ranked number three in the world.
Also, he said, three companies were listed in Forbes Asia’s 200 Best Under A Billion 2019.
Dr Mahathir also pointed out that Malaysia's digital creative content developers were also significant players in the world of animation and games with some internationally-recognised titles including Boboiboy, Upin & Ipin, No Straight Roads, CryptantCrab and Re:Legend.
"There is definitely merit in attracting and adopting emerging technologies, developing tech talent and facilitating digital inclusion to ensure shared prosperity," he said.
Prime Minister said the initiatives presented in today's meeting would continue to build on the Government's national aim and vision of Shared Prosperity, utilising digital technologies for the social and economic upliftment of Malaysians.
"The global testbed for AI, data analytics and augmented reality will be fuelled by a powerful talent pipeline, which draw together people, educators, industry and government to make the national goal a reality,” he said.

Govt to set up National Digital Inclusion Council — Dr Mahathir
PUTRAJAYA (Oct 16): The Government will set up the National Digital Inclusion Council to focus on creating digital economy income opportunities for the people, said Prime Minister Tun Dr Mahathir Mohamad.
The council, to be headed by Dr Mahathir, will comprise representatives from the Ministries of Economic Affairs; Finance; Communications and Multimedia; Women, Family and Community Development; Rural Development; Housing and Local Government; and Agriculture and Agro-based Industry.
Also in the council are the Ministries of Tourism, Arts and Culture; Transport; Entrepreneur Development; Youth and Sports; Human Resources; and Federal Territories.
Speaking to reporters after chairing the 30th Multimedia Super Corridor (MSC) Malaysia Implementation Council Meeting at Perdana Putra here today, Dr Mahathir said the Government must focus on getting its execution right and achieve results in the fastest time possible.
“Ministries and agencies must collaborate and work together to ensure delivery to the rakyat. As public officers, we must play our part to earn the trust of the people,” he said.
At the press conference, Dr Mahathir recalled his good old times on MSC and felt that he was reviving something that he himself started a long time ago.
“Long time ago, we set up the MSC and we focused on new technologies. But that time there was no telefon bimbit (mobile phone) and very limited equipment.
“But after I stepped down for 15 years and I lost touch with the business, I am now introduced to new words which I don't understand,” he said, citing ‘sandbox’ as an example.
“I don't know how sandbox has got into this highly sophisticated equipment,” he said.
Since its establishment in 1996, Dr Mahathir said MSC had created 183,000 high-value jobs in almost 3,000 companies with total revenue of almost RM500 billion.
Dr Mahathir said he was proud to note that Malaysia's local tech champions were now recognised as global players and for example, Aerodyne, which specialises in artificial intelligence (AI)-driven drone-based technology, was ranked number three in the world.
Also, he said, three companies were listed in Forbes Asia’s 200 Best Under A Billion 2019.
Dr Mahathir also pointed out that Malaysia's digital creative content developers were also significant players in the world of animation and games with some internationally-recognised titles including Boboiboy, Upin & Ipin, No Straight Roads, CryptantCrab and Re:Legend.
"There is definitely merit in attracting and adopting emerging technologies, developing tech talent and facilitating digital inclusion to ensure shared prosperity," he said.
Prime Minister said the initiatives presented in today's meeting would continue to build on the Government's national aim and vision of Shared Prosperity, utilising digital technologies for the social and economic upliftment of Malaysians.
"The global testbed for AI, data analytics and augmented reality will be fuelled by a powerful talent pipeline, which draw together people, educators, industry and government to make the national goal a reality,” he said.

Govt to set up National Digital Inclusion Council — Dr Mahathir
PUTRAJAYA (Oct 16): The Government will set up the National Digital Inclusion Council to focus on creating digital economy income opportunities for the people, said Prime Minister Tun Dr Mahathir Mohamad.
The council, to be headed by Dr Mahathir, will comprise representatives from the Ministries of Economic Affairs; Finance; Communications and Multimedia; Women, Family and Community Development; Rural Development; Housing and Local Government; and Agriculture and Agro-based Industry.
Also in the council are the Ministries of Tourism, Arts and Culture; Transport; Entrepreneur Development; Youth and Sports; Human Resources; and Federal Territories.
Speaking to reporters after chairing the 30th Multimedia Super Corridor (MSC) Malaysia Implementation Council Meeting at Perdana Putra here today, Dr Mahathir said the Government must focus on getting its execution right and achieve results in the fastest time possible.
“Ministries and agencies must collaborate and work together to ensure delivery to the rakyat. As public officers, we must play our part to earn the trust of the people,” he said.
At the press conference, Dr Mahathir recalled his good old times on MSC and felt that he was reviving something that he himself started a long time ago.
“Long time ago, we set up the MSC and we focused on new technologies. But that time there was no telefon bimbit (mobile phone) and very limited equipment.
“But after I stepped down for 15 years and I lost touch with the business, I am now introduced to new words which I don't understand,” he said, citing ‘sandbox’ as an example.
“I don't know how sandbox has got into this highly sophisticated equipment,” he said.
Since its establishment in 1996, Dr Mahathir said MSC had created 183,000 high-value jobs in almost 3,000 companies with total revenue of almost RM500 billion.
Dr Mahathir said he was proud to note that Malaysia's local tech champions were now recognised as global players and for example, Aerodyne, which specialises in artificial intelligence (AI)-driven drone-based technology, was ranked number three in the world.
Also, he said, three companies were listed in Forbes Asia’s 200 Best Under A Billion 2019.
Dr Mahathir also pointed out that Malaysia's digital creative content developers were also significant players in the world of animation and games with some internationally-recognised titles including Boboiboy, Upin & Ipin, No Straight Roads, CryptantCrab and Re:Legend.
"There is definitely merit in attracting and adopting emerging technologies, developing tech talent and facilitating digital inclusion to ensure shared prosperity," he said.
Prime Minister said the initiatives presented in today's meeting would continue to build on the Government's national aim and vision of Shared Prosperity, utilising digital technologies for the social and economic upliftment of Malaysians.
"The global testbed for AI, data analytics and augmented reality will be fuelled by a powerful talent pipeline, which draw together people, educators, industry and government to make the national goal a reality,” he said.

Govt to set up National Digital Inclusion Council — Dr Mahathir
PUTRAJAYA (Oct 16): The Government will set up the National Digital Inclusion Council to focus on creating digital economy income opportunities for the people, said Prime Minister Tun Dr Mahathir Mohamad.
The council, to be headed by Dr Mahathir, will comprise representatives from the Ministries of Economic Affairs; Finance; Communications and Multimedia; Women, Family and Community Development; Rural Development; Housing and Local Government; and Agriculture and Agro-based Industry.
Also in the council are the Ministries of Tourism, Arts and Culture; Transport; Entrepreneur Development; Youth and Sports; Human Resources; and Federal Territories.
Speaking to reporters after chairing the 30th Multimedia Super Corridor (MSC) Malaysia Implementation Council Meeting at Perdana Putra here today, Dr Mahathir said the Government must focus on getting its execution right and achieve results in the fastest time possible.
“Ministries and agencies must collaborate and work together to ensure delivery to the rakyat. As public officers, we must play our part to earn the trust of the people,” he said.
At the press conference, Dr Mahathir recalled his good old times on MSC and felt that he was reviving something that he himself started a long time ago.
“Long time ago, we set up the MSC and we focused on new technologies. But that time there was no telefon bimbit (mobile phone) and very limited equipment.
“But after I stepped down for 15 years and I lost touch with the business, I am now introduced to new words which I don't understand,” he said, citing ‘sandbox’ as an example.
“I don't know how sandbox has got into this highly sophisticated equipment,” he said.
Since its establishment in 1996, Dr Mahathir said MSC had created 183,000 high-value jobs in almost 3,000 companies with total revenue of almost RM500 billion.
Dr Mahathir said he was proud to note that Malaysia's local tech champions were now recognised as global players and for example, Aerodyne, which specialises in artificial intelligence (AI)-driven drone-based technology, was ranked number three in the world.
Also, he said, three companies were listed in Forbes Asia’s 200 Best Under A Billion 2019.
Dr Mahathir also pointed out that Malaysia's digital creative content developers were also significant players in the world of animation and games with some internationally-recognised titles including Boboiboy, Upin & Ipin, No Straight Roads, CryptantCrab and Re:Legend.
"There is definitely merit in attracting and adopting emerging technologies, developing tech talent and facilitating digital inclusion to ensure shared prosperity," he said.
Prime Minister said the initiatives presented in today's meeting would continue to build on the Government's national aim and vision of Shared Prosperity, utilising digital technologies for the social and economic upliftment of Malaysians.
"The global testbed for AI, data analytics and augmented reality will be fuelled by a powerful talent pipeline, which draw together people, educators, industry and government to make the national goal a reality,” he said.

Govt to set up National Digital Inclusion Council — Dr Mahathir
PUTRAJAYA (Oct 16): The Government will set up the National Digital Inclusion Council to focus on creating digital economy income opportunities for the people, said Prime Minister Tun Dr Mahathir Mohamad.
The council, to be headed by Dr Mahathir, will comprise representatives from the Ministries of Economic Affairs; Finance; Communications and Multimedia; Women, Family and Community Development; Rural Development; Housing and Local Government; and Agriculture and Agro-based Industry.
Also in the council are the Ministries of Tourism, Arts and Culture; Transport; Entrepreneur Development; Youth and Sports; Human Resources; and Federal Territories.
Speaking to reporters after chairing the 30th Multimedia Super Corridor (MSC) Malaysia Implementation Council Meeting at Perdana Putra here today, Dr Mahathir said the Government must focus on getting its execution right and achieve results in the fastest time possible.
“Ministries and agencies must collaborate and work together to ensure delivery to the rakyat. As public officers, we must play our part to earn the trust of the people,” he said.
At the press conference, Dr Mahathir recalled his good old times on MSC and felt that he was reviving something that he himself started a long time ago.
“Long time ago, we set up the MSC and we focused on new technologies. But that time there was no telefon bimbit (mobile phone) and very limited equipment.
“But after I stepped down for 15 years and I lost touch with the business, I am now introduced to new words which I don't understand,” he said, citing ‘sandbox’ as an example.
“I don't know how sandbox has got into this highly sophisticated equipment,” he said.
Since its establishment in 1996, Dr Mahathir said MSC had created 183,000 high-value jobs in almost 3,000 companies with total revenue of almost RM500 billion.
Dr Mahathir said he was proud to note that Malaysia's local tech champions were now recognised as global players and for example, Aerodyne, which specialises in artificial intelligence (AI)-driven drone-based technology, was ranked number three in the world.
Also, he said, three companies were listed in Forbes Asia’s 200 Best Under A Billion 2019.
Dr Mahathir also pointed out that Malaysia's digital creative content developers were also significant players in the world of animation and games with some internationally-recognised titles including Boboiboy, Upin & Ipin, No Straight Roads, CryptantCrab and Re:Legend.
"There is definitely merit in attracting and adopting emerging technologies, developing tech talent and facilitating digital inclusion to ensure shared prosperity," he said.
Prime Minister said the initiatives presented in today's meeting would continue to build on the Government's national aim and vision of Shared Prosperity, utilising digital technologies for the social and economic upliftment of Malaysians.
"The global testbed for AI, data analytics and augmented reality will be fuelled by a powerful talent pipeline, which draw together people, educators, industry and government to make the national goal a reality,” he said.

Govt to set up National Digital Inclusion Council — Dr Mahathir
PUTRAJAYA (Oct 16): The Government will set up the National Digital Inclusion Council to focus on creating digital economy income opportunities for the people, said Prime Minister Tun Dr Mahathir Mohamad.
The council, to be headed by Dr Mahathir, will comprise representatives from the Ministries of Economic Affairs; Finance; Communications and Multimedia; Women, Family and Community Development; Rural Development; Housing and Local Government; and Agriculture and Agro-based Industry.
Also in the council are the Ministries of Tourism, Arts and Culture; Transport; Entrepreneur Development; Youth and Sports; Human Resources; and Federal Territories.
Speaking to reporters after chairing the 30th Multimedia Super Corridor (MSC) Malaysia Implementation Council Meeting at Perdana Putra here today, Dr Mahathir said the Government must focus on getting its execution right and achieve results in the fastest time possible.
“Ministries and agencies must collaborate and work together to ensure delivery to the rakyat. As public officers, we must play our part to earn the trust of the people,” he said.
At the press conference, Dr Mahathir recalled his good old times on MSC and felt that he was reviving something that he himself started a long time ago.
“Long time ago, we set up the MSC and we focused on new technologies. But that time there was no telefon bimbit (mobile phone) and very limited equipment.
“But after I stepped down for 15 years and I lost touch with the business, I am now introduced to new words which I don't understand,” he said, citing ‘sandbox’ as an example.
“I don't know how sandbox has got into this highly sophisticated equipment,” he said.
Since its establishment in 1996, Dr Mahathir said MSC had created 183,000 high-value jobs in almost 3,000 companies with total revenue of almost RM500 billion.
Dr Mahathir said he was proud to note that Malaysia's local tech champions were now recognised as global players and for example, Aerodyne, which specialises in artificial intelligence (AI)-driven drone-based technology, was ranked number three in the world.
Also, he said, three companies were listed in Forbes Asia’s 200 Best Under A Billion 2019.
Dr Mahathir also pointed out that Malaysia's digital creative content developers were also significant players in the world of animation and games with some internationally-recognised titles including Boboiboy, Upin & Ipin, No Straight Roads, CryptantCrab and Re:Legend.
"There is definitely merit in attracting and adopting emerging technologies, developing tech talent and facilitating digital inclusion to ensure shared prosperity," he said.
Prime Minister said the initiatives presented in today's meeting would continue to build on the Government's national aim and vision of Shared Prosperity, utilising digital technologies for the social and economic upliftment of Malaysians.
"The global testbed for AI, data analytics and augmented reality will be fuelled by a powerful talent pipeline, which draw together people, educators, industry and government to make the national goal a reality,” he said.

Govt to set up National Digital Inclusion Council — Dr Mahathir
PUTRAJAYA (Oct 16): The Government will set up the National Digital Inclusion Council to focus on creating digital economy income opportunities for the people, said Prime Minister Tun Dr Mahathir Mohamad.
The council, to be headed by Dr Mahathir, will comprise representatives from the Ministries of Economic Affairs; Finance; Communications and Multimedia; Women, Family and Community Development; Rural Development; Housing and Local Government; and Agriculture and Agro-based Industry.
Also in the council are the Ministries of Tourism, Arts and Culture; Transport; Entrepreneur Development; Youth and Sports; Human Resources; and Federal Territories.
Speaking to reporters after chairing the 30th Multimedia Super Corridor (MSC) Malaysia Implementation Council Meeting at Perdana Putra here today, Dr Mahathir said the Government must focus on getting its execution right and achieve results in the fastest time possible.
“Ministries and agencies must collaborate and work together to ensure delivery to the rakyat. As public officers, we must play our part to earn the trust of the people,” he said.
At the press conference, Dr Mahathir recalled his good old times on MSC and felt that he was reviving something that he himself started a long time ago.
“Long time ago, we set up the MSC and we focused on new technologies. But that time there was no telefon bimbit (mobile phone) and very limited equipment.
“But after I stepped down for 15 years and I lost touch with the business, I am now introduced to new words which I don't understand,” he said, citing ‘sandbox’ as an example.
“I don't know how sandbox has got into this highly sophisticated equipment,” he said.
Since its establishment in 1996, Dr Mahathir said MSC had created 183,000 high-value jobs in almost 3,000 companies with total revenue of almost RM500 billion.
Dr Mahathir said he was proud to note that Malaysia's local tech champions were now recognised as global players and for example, Aerodyne, which specialises in artificial intelligence (AI)-driven drone-based technology, was ranked number three in the world.
Also, he said, three companies were listed in Forbes Asia’s 200 Best Under A Billion 2019.
Dr Mahathir also pointed out that Malaysia's digital creative content developers were also significant players in the world of animation and games with some internationally-recognised titles including Boboiboy, Upin & Ipin, No Straight Roads, CryptantCrab and Re:Legend.
"There is definitely merit in attracting and adopting emerging technologies, developing tech talent and facilitating digital inclusion to ensure shared prosperity," he said.
Prime Minister said the initiatives presented in today's meeting would continue to build on the Government's national aim and vision of Shared Prosperity, utilising digital technologies for the social and economic upliftment of Malaysians.
"The global testbed for AI, data analytics and augmented reality will be fuelled by a powerful talent pipeline, which draw together people, educators, industry and government to make the national goal a reality,” he said.

Govt to set up National Digital Inclusion Council — Dr Mahathir
PUTRAJAYA (Oct 16): The Government will set up the National Digital Inclusion Council to focus on creating digital economy income opportunities for the people, said Prime Minister Tun Dr Mahathir Mohamad.
The council, to be headed by Dr Mahathir, will comprise representatives from the Ministries of Economic Affairs; Finance; Communications and Multimedia; Women, Family and Community Development; Rural Development; Housing and Local Government; and Agriculture and Agro-based Industry.
Also in the council are the Ministries of Tourism, Arts and Culture; Transport; Entrepreneur Development; Youth and Sports; Human Resources; and Federal Territories.
Speaking to reporters after chairing the 30th Multimedia Super Corridor (MSC) Malaysia Implementation Council Meeting at Perdana Putra here today, Dr Mahathir said the Government must focus on getting its execution right and achieve results in the fastest time possible.
“Ministries and agencies must collaborate and work together to ensure delivery to the rakyat. As public officers, we must play our part to earn the trust of the people,” he said.
At the press conference, Dr Mahathir recalled his good old times on MSC and felt that he was reviving something that he himself started a long time ago.
“Long time ago, we set up the MSC and we focused on new technologies. But that time there was no telefon bimbit (mobile phone) and very limited equipment.
“But after I stepped down for 15 years and I lost touch with the business, I am now introduced to new words which I don't understand,” he said, citing ‘sandbox’ as an example.
“I don't know how sandbox has got into this highly sophisticated equipment,” he said.
Since its establishment in 1996, Dr Mahathir said MSC had created 183,000 high-value jobs in almost 3,000 companies with total revenue of almost RM500 billion.
Dr Mahathir said he was proud to note that Malaysia's local tech champions were now recognised as global players and for example, Aerodyne, which specialises in artificial intelligence (AI)-driven drone-based technology, was ranked number three in the world.
Also, he said, three companies were listed in Forbes Asia’s 200 Best Under A Billion 2019.
Dr Mahathir also pointed out that Malaysia's digital creative content developers were also significant players in the world of animation and games with some internationally-recognised titles including Boboiboy, Upin & Ipin, No Straight Roads, CryptantCrab and Re:Legend.
"There is definitely merit in attracting and adopting emerging technologies, developing tech talent and facilitating digital inclusion to ensure shared prosperity," he said.
Prime Minister said the initiatives presented in today's meeting would continue to build on the Government's national aim and vision of Shared Prosperity, utilising digital technologies for the social and economic upliftment of Malaysians.
"The global testbed for AI, data analytics and augmented reality will be fuelled by a powerful talent pipeline, which draw together people, educators, industry and government to make the national goal a reality,” he said.

Govt to set up National Digital Inclusion Council — Dr Mahathir
PUTRAJAYA (Oct 16): The Government will set up the National Digital Inclusion Council to focus on creating digital economy income opportunities for the people, said Prime Minister Tun Dr Mahathir Mohamad.
The council, to be headed by Dr Mahathir, will comprise representatives from the Ministries of Economic Affairs; Finance; Communications and Multimedia; Women, Family and Community Development; Rural Development; Housing and Local Government; and Agriculture and Agro-based Industry.
Also in the council are the Ministries of Tourism, Arts and Culture; Transport; Entrepreneur Development; Youth and Sports; Human Resources; and Federal Territories.
Speaking to reporters after chairing the 30th Multimedia Super Corridor (MSC) Malaysia Implementation Council Meeting at Perdana Putra here today, Dr Mahathir said the Government must focus on getting its execution right and achieve results in the fastest time possible.
“Ministries and agencies must collaborate and work together to ensure delivery to the rakyat. As public officers, we must play our part to earn the trust of the people,” he said.
At the press conference, Dr Mahathir recalled his good old times on MSC and felt that he was reviving something that he himself started a long time ago.
“Long time ago, we set up the MSC and we focused on new technologies. But that time there was no telefon bimbit (mobile phone) and very limited equipment.
“But after I stepped down for 15 years and I lost touch with the business, I am now introduced to new words which I don't understand,” he said, citing ‘sandbox’ as an example.
“I don't know how sandbox has got into this highly sophisticated equipment,” he said.
Since its establishment in 1996, Dr Mahathir said MSC had created 183,000 high-value jobs in almost 3,000 companies with total revenue of almost RM500 billion.
Dr Mahathir said he was proud to note that Malaysia's local tech champions were now recognised as global players and for example, Aerodyne, which specialises in artificial intelligence (AI)-driven drone-based technology, was ranked number three in the world.
Also, he said, three companies were listed in Forbes Asia’s 200 Best Under A Billion 2019.
Dr Mahathir also pointed out that Malaysia's digital creative content developers were also significant players in the world of animation and games with some internationally-recognised titles including Boboiboy, Upin & Ipin, No Straight Roads, CryptantCrab and Re:Legend.
"There is definitely merit in attracting and adopting emerging technologies, developing tech talent and facilitating digital inclusion to ensure shared prosperity," he said.
Prime Minister said the initiatives presented in today's meeting would continue to build on the Government's national aim and vision of Shared Prosperity, utilising digital technologies for the social and economic upliftment of Malaysians.
"The global testbed for AI, data analytics and augmented reality will be fuelled by a powerful talent pipeline, which draw together people, educators, industry and government to make the national goal a reality,” he said.

Govt to set up National Digital Inclusion Council — Dr Mahathir
PUTRAJAYA (Oct 16): The Government will set up the National Digital Inclusion Council to focus on creating digital economy income opportunities for the people, said Prime Minister Tun Dr Mahathir Mohamad.
The council, to be headed by Dr Mahathir, will comprise representatives from the Ministries of Economic Affairs; Finance; Communications and Multimedia; Women, Family and Community Development; Rural Development; Housing and Local Government; and Agriculture and Agro-based Industry.
Also in the council are the Ministries of Tourism, Arts and Culture; Transport; Entrepreneur Development; Youth and Sports; Human Resources; and Federal Territories.
Speaking to reporters after chairing the 30th Multimedia Super Corridor (MSC) Malaysia Implementation Council Meeting at Perdana Putra here today, Dr Mahathir said the Government must focus on getting its execution right and achieve results in the fastest time possible.
“Ministries and agencies must collaborate and work together to ensure delivery to the rakyat. As public officers, we must play our part to earn the trust of the people,” he said.
At the press conference, Dr Mahathir recalled his good old times on MSC and felt that he was reviving something that he himself started a long time ago.
“Long time ago, we set up the MSC and we focused on new technologies. But that time there was no telefon bimbit (mobile phone) and very limited equipment.
“But after I stepped down for 15 years and I lost touch with the business, I am now introduced to new words which I don't understand,” he said, citing ‘sandbox’ as an example.
“I don't know how sandbox has got into this highly sophisticated equipment,” he said.
Since its establishment in 1996, Dr Mahathir said MSC had created 183,000 high-value jobs in almost 3,000 companies with total revenue of almost RM500 billion.
Dr Mahathir said he was proud to note that Malaysia's local tech champions were now recognised as global players and for example, Aerodyne, which specialises in artificial intelligence (AI)-driven drone-based technology, was ranked number three in the world.
Also, he said, three companies were listed in Forbes Asia’s 200 Best Under A Billion 2019.
Dr Mahathir also pointed out that Malaysia's digital creative content developers were also significant players in the world of animation and games with some internationally-recognised titles including Boboiboy, Upin & Ipin, No Straight Roads, CryptantCrab and Re:Legend.
"There is definitely merit in attracting and adopting emerging technologies, developing tech talent and facilitating digital inclusion to ensure shared prosperity," he said.
Prime Minister said the initiatives presented in today's meeting would continue to build on the Government's national aim and vision of Shared Prosperity, utilising digital technologies for the social and economic upliftment of Malaysians.
"The global testbed for AI, data analytics and augmented reality will be fuelled by a powerful talent pipeline, which draw together people, educators, industry and government to make the national goal a reality,” he said.

Govt to set up National Digital Inclusion Council — Dr Mahathir
PUTRAJAYA (Oct 16): The Government will set up the National Digital Inclusion Council to focus on creating digital economy income opportunities for the people, said Prime Minister Tun Dr Mahathir Mohamad.
The council, to be headed by Dr Mahathir, will comprise representatives from the Ministries of Economic Affairs; Finance; Communications and Multimedia; Women, Family and Community Development; Rural Development; Housing and Local Government; and Agriculture and Agro-based Industry.
Also in the council are the Ministries of Tourism, Arts and Culture; Transport; Entrepreneur Development; Youth and Sports; Human Resources; and Federal Territories.
Speaking to reporters after chairing the 30th Multimedia Super Corridor (MSC) Malaysia Implementation Council Meeting at Perdana Putra here today, Dr Mahathir said the Government must focus on getting its execution right and achieve results in the fastest time possible.
“Ministries and agencies must collaborate and work together to ensure delivery to the rakyat. As public officers, we must play our part to earn the trust of the people,” he said.
At the press conference, Dr Mahathir recalled his good old times on MSC and felt that he was reviving something that he himself started a long time ago.
“Long time ago, we set up the MSC and we focused on new technologies. But that time there was no telefon bimbit (mobile phone) and very limited equipment.
“But after I stepped down for 15 years and I lost touch with the business, I am now introduced to new words which I don't understand,” he said, citing ‘sandbox’ as an example.
“I don't know how sandbox has got into this highly sophisticated equipment,” he said.
Since its establishment in 1996, Dr Mahathir said MSC had created 183,000 high-value jobs in almost 3,000 companies with total revenue of almost RM500 billion.
Dr Mahathir said he was proud to note that Malaysia's local tech champions were now recognised as global players and for example, Aerodyne, which specialises in artificial intelligence (AI)-driven drone-based technology, was ranked number three in the world.
Also, he said, three companies were listed in Forbes Asia’s 200 Best Under A Billion 2019.
Dr Mahathir also pointed out that Malaysia's digital creative content developers were also significant players in the world of animation and games with some internationally-recognised titles including Boboiboy, Upin & Ipin, No Straight Roads, CryptantCrab and Re:Legend.
"There is definitely merit in attracting and adopting emerging technologies, developing tech talent and facilitating digital inclusion to ensure shared prosperity," he said.
Prime Minister said the initiatives presented in today's meeting would continue to build on the Government's national aim and vision of Shared Prosperity, utilising digital technologies for the social and economic upliftment of Malaysians.
"The global testbed for AI, data analytics and augmented reality will be fuelled by a powerful talent pipeline, which draw together people, educators, industry and government to make the national goal a reality,” he said.

Govt to set up National Digital Inclusion Council — Dr Mahathir
PUTRAJAYA (Oct 16): The Government will set up the National Digital Inclusion Council to focus on creating digital economy income opportunities for the people, said Prime Minister Tun Dr Mahathir Mohamad.
The council, to be headed by Dr Mahathir, will comprise representatives from the Ministries of Economic Affairs; Finance; Communications and Multimedia; Women, Family and Community Development; Rural Development; Housing and Local Government; and Agriculture and Agro-based Industry.
Also in the council are the Ministries of Tourism, Arts and Culture; Transport; Entrepreneur Development; Youth and Sports; Human Resources; and Federal Territories.
Speaking to reporters after chairing the 30th Multimedia Super Corridor (MSC) Malaysia Implementation Council Meeting at Perdana Putra here today, Dr Mahathir said the Government must focus on getting its execution right and achieve results in the fastest time possible.
“Ministries and agencies must collaborate and work together to ensure delivery to the rakyat. As public officers, we must play our part to earn the trust of the people,” he said.
At the press conference, Dr Mahathir recalled his good old times on MSC and felt that he was reviving something that he himself started a long time ago.
“Long time ago, we set up the MSC and we focused on new technologies. But that time there was no telefon bimbit (mobile phone) and very limited equipment.
“But after I stepped down for 15 years and I lost touch with the business, I am now introduced to new words which I don't understand,” he said, citing ‘sandbox’ as an example.
“I don't know how sandbox has got into this highly sophisticated equipment,” he said.
Since its establishment in 1996, Dr Mahathir said MSC had created 183,000 high-value jobs in almost 3,000 companies with total revenue of almost RM500 billion.
Dr Mahathir said he was proud to note that Malaysia's local tech champions were now recognised as global players and for example, Aerodyne, which specialises in artificial intelligence (AI)-driven drone-based technology, was ranked number three in the world.
Also, he said, three companies were listed in Forbes Asia’s 200 Best Under A Billion 2019.
Dr Mahathir also pointed out that Malaysia's digital creative content developers were also significant players in the world of animation and games with some internationally-recognised titles including Boboiboy, Upin & Ipin, No Straight Roads, CryptantCrab and Re:Legend.
"There is definitely merit in attracting and adopting emerging technologies, developing tech talent and facilitating digital inclusion to ensure shared prosperity," he said.
Prime Minister said the initiatives presented in today's meeting would continue to build on the Government's national aim and vision of Shared Prosperity, utilising digital technologies for the social and economic upliftment of Malaysians.
"The global testbed for AI, data analytics and augmented reality will be fuelled by a powerful talent pipeline, which draw together people, educators, industry and government to make the national goal a reality,” he said.

Digital economy initiatives at forefront of Budget 2020
KUALA LUMPUR (Oct 11): The Government is giving grants to incentivise businesses to automate and digitalise their businesses.
Finance Minister Lim Guan Eng today announced various initiatives and incentives for the development of “digital applications, digital companies, and digital Malaysians” in the National Budget 2020.
This is on top of the five-year National Fiberisation and Connectivity Plan (NFCP) announced earlier, which will be undertaken via a public-private partnership approach involving a total investment of RM21.6 billion.
In his speech in Parliament when tabling the national Budget, Lim said the Government is allocating RM550 million in smart automation matching grants to 1,000 manufacturing and 1,000 services companies to automate their business processes. This grant will be given on a matching basis up to RM2 million per company.
Electrical and electronics (E&E) companies that invest in knowledge-based services, will get a tax exemption for up to 10 years. There is also a special investment allowance for existing E&E companies that have had their reinvestment allowance expired.
In addition, the first 100,000 small and medium enterprises (SMEs) may receive a 50% matching grant of up to RM5,000 a company, for the subscription of digital services for business operations, such as electronic Point of Sale systems (e-POS), Enterprise Resources Planning (ERP) and electronic payroll systems.
To seed Malaysian companies to ride the global 5G wave, Guan Eng said the government is budgeting a 5G ecosystem development grant of RM50 million.
Besides, an RM25 million contestable matching grant fund has been proposed to spur more pilot projects on digital applications, such as drone delivery, autonomous vehicles and blockchain technology, to leverage on Malaysia’s fibre optics and 5G infrastructure.
Guan Eng said tax deductions will be given on companies’ contributions towards the newly coined Digital Social Responsibility (DSR), which is the commitment by businesses to contribute to digital economic development while improving digital skills of the future workforce.
A budget of RM100 million will be allocated to Malaysian Digital Economy Corporation (MDEC), the bulk of which (RM70 million) will be for the setting up of 14 one-stop digital enhancement centres in all States.
The setting up of the centres, as an extension of the ‘100 Go Digital’ programme, is to facilitate access to financing and capacity building of businesses, especially the SMEs, in line with the fourth industrial revolution (IR4.0).
The Government also intends to continue providing funds of RM10 million to MDEC to train micro-digital entrepreneurs and technologists, and another RM20 million to grow local champions in creating digital content, especially in e-Games, animation, and digital arts.
Qualified Malaysians aged 18 and above with annual income less than RM100,000 will get a one-time RM30 digital stimulus, to significantly boost the use of e-wallets given the low adoption of e-wallet at 8% as at January. This will cost the government a total of RM450 million.
Meanwhile, e-Sports will receive an increased allocation of RM20 million in 2020, said the Minister.

Digital economy initiatives at forefront of Budget 2020
KUALA LUMPUR (Oct 11): The Government is giving grants to incentivise businesses to automate and digitalise their businesses.
Finance Minister Lim Guan Eng today announced various initiatives and incentives for the development of “digital applications, digital companies, and digital Malaysians” in the National Budget 2020.
This is on top of the five-year National Fiberisation and Connectivity Plan (NFCP) announced earlier, which will be undertaken via a public-private partnership approach involving a total investment of RM21.6 billion.
In his speech in Parliament when tabling the national Budget, Lim said the Government is allocating RM550 million in smart automation matching grants to 1,000 manufacturing and 1,000 services companies to automate their business processes. This grant will be given on a matching basis up to RM2 million per company.
Electrical and electronics (E&E) companies that invest in knowledge-based services, will get a tax exemption for up to 10 years. There is also a special investment allowance for existing E&E companies that have had their reinvestment allowance expired.
In addition, the first 100,000 small and medium enterprises (SMEs) may receive a 50% matching grant of up to RM5,000 a company, for the subscription of digital services for business operations, such as electronic Point of Sale systems (e-POS), Enterprise Resources Planning (ERP) and electronic payroll systems.
To seed Malaysian companies to ride the global 5G wave, Guan Eng said the government is budgeting a 5G ecosystem development grant of RM50 million.
Besides, an RM25 million contestable matching grant fund has been proposed to spur more pilot projects on digital applications, such as drone delivery, autonomous vehicles and blockchain technology, to leverage on Malaysia’s fibre optics and 5G infrastructure.
Guan Eng said tax deductions will be given on companies’ contributions towards the newly coined Digital Social Responsibility (DSR), which is the commitment by businesses to contribute to digital economic development while improving digital skills of the future workforce.
A budget of RM100 million will be allocated to Malaysian Digital Economy Corporation (MDEC), the bulk of which (RM70 million) will be for the setting up of 14 one-stop digital enhancement centres in all States.
The setting up of the centres, as an extension of the ‘100 Go Digital’ programme, is to facilitate access to financing and capacity building of businesses, especially the SMEs, in line with the fourth industrial revolution (IR4.0).
The Government also intends to continue providing funds of RM10 million to MDEC to train micro-digital entrepreneurs and technologists, and another RM20 million to grow local champions in creating digital content, especially in e-Games, animation, and digital arts.
Qualified Malaysians aged 18 and above with annual income less than RM100,000 will get a one-time RM30 digital stimulus, to significantly boost the use of e-wallets given the low adoption of e-wallet at 8% as at January. This will cost the government a total of RM450 million.
Meanwhile, e-Sports will receive an increased allocation of RM20 million in 2020, said the Minister.

Digital economy initiatives at forefront of Budget 2020
KUALA LUMPUR (Oct 11): The Government is giving grants to incentivise businesses to automate and digitalise their businesses.
Finance Minister Lim Guan Eng today announced various initiatives and incentives for the development of “digital applications, digital companies, and digital Malaysians” in the National Budget 2020.
This is on top of the five-year National Fiberisation and Connectivity Plan (NFCP) announced earlier, which will be undertaken via a public-private partnership approach involving a total investment of RM21.6 billion.
In his speech in Parliament when tabling the national Budget, Lim said the Government is allocating RM550 million in smart automation matching grants to 1,000 manufacturing and 1,000 services companies to automate their business processes. This grant will be given on a matching basis up to RM2 million per company.
Electrical and electronics (E&E) companies that invest in knowledge-based services, will get a tax exemption for up to 10 years. There is also a special investment allowance for existing E&E companies that have had their reinvestment allowance expired.
In addition, the first 100,000 small and medium enterprises (SMEs) may receive a 50% matching grant of up to RM5,000 a company, for the subscription of digital services for business operations, such as electronic Point of Sale systems (e-POS), Enterprise Resources Planning (ERP) and electronic payroll systems.
To seed Malaysian companies to ride the global 5G wave, Guan Eng said the government is budgeting a 5G ecosystem development grant of RM50 million.
Besides, an RM25 million contestable matching grant fund has been proposed to spur more pilot projects on digital applications, such as drone delivery, autonomous vehicles and blockchain technology, to leverage on Malaysia’s fibre optics and 5G infrastructure.
Guan Eng said tax deductions will be given on companies’ contributions towards the newly coined Digital Social Responsibility (DSR), which is the commitment by businesses to contribute to digital economic development while improving digital skills of the future workforce.
A budget of RM100 million will be allocated to Malaysian Digital Economy Corporation (MDEC), the bulk of which (RM70 million) will be for the setting up of 14 one-stop digital enhancement centres in all States.
The setting up of the centres, as an extension of the ‘100 Go Digital’ programme, is to facilitate access to financing and capacity building of businesses, especially the SMEs, in line with the fourth industrial revolution (IR4.0).
The Government also intends to continue providing funds of RM10 million to MDEC to train micro-digital entrepreneurs and technologists, and another RM20 million to grow local champions in creating digital content, especially in e-Games, animation, and digital arts.
Qualified Malaysians aged 18 and above with annual income less than RM100,000 will get a one-time RM30 digital stimulus, to significantly boost the use of e-wallets given the low adoption of e-wallet at 8% as at January. This will cost the government a total of RM450 million.
Meanwhile, e-Sports will receive an increased allocation of RM20 million in 2020, said the Minister.

Digital economy initiatives at forefront of Budget 2020
KUALA LUMPUR (Oct 11): The Government is giving grants to incentivise businesses to automate and digitalise their businesses.
Finance Minister Lim Guan Eng today announced various initiatives and incentives for the development of “digital applications, digital companies, and digital Malaysians” in the National Budget 2020.
This is on top of the five-year National Fiberisation and Connectivity Plan (NFCP) announced earlier, which will be undertaken via a public-private partnership approach involving a total investment of RM21.6 billion.
In his speech in Parliament when tabling the national Budget, Lim said the Government is allocating RM550 million in smart automation matching grants to 1,000 manufacturing and 1,000 services companies to automate their business processes. This grant will be given on a matching basis up to RM2 million per company.
Electrical and electronics (E&E) companies that invest in knowledge-based services, will get a tax exemption for up to 10 years. There is also a special investment allowance for existing E&E companies that have had their reinvestment allowance expired.
In addition, the first 100,000 small and medium enterprises (SMEs) may receive a 50% matching grant of up to RM5,000 a company, for the subscription of digital services for business operations, such as electronic Point of Sale systems (e-POS), Enterprise Resources Planning (ERP) and electronic payroll systems.
To seed Malaysian companies to ride the global 5G wave, Guan Eng said the government is budgeting a 5G ecosystem development grant of RM50 million.
Besides, an RM25 million contestable matching grant fund has been proposed to spur more pilot projects on digital applications, such as drone delivery, autonomous vehicles and blockchain technology, to leverage on Malaysia’s fibre optics and 5G infrastructure.
Guan Eng said tax deductions will be given on companies’ contributions towards the newly coined Digital Social Responsibility (DSR), which is the commitment by businesses to contribute to digital economic development while improving digital skills of the future workforce.
A budget of RM100 million will be allocated to Malaysian Digital Economy Corporation (MDEC), the bulk of which (RM70 million) will be for the setting up of 14 one-stop digital enhancement centres in all States.
The setting up of the centres, as an extension of the ‘100 Go Digital’ programme, is to facilitate access to financing and capacity building of businesses, especially the SMEs, in line with the fourth industrial revolution (IR4.0).
The Government also intends to continue providing funds of RM10 million to MDEC to train micro-digital entrepreneurs and technologists, and another RM20 million to grow local champions in creating digital content, especially in e-Games, animation, and digital arts.
Qualified Malaysians aged 18 and above with annual income less than RM100,000 will get a one-time RM30 digital stimulus, to significantly boost the use of e-wallets given the low adoption of e-wallet at 8% as at January. This will cost the government a total of RM450 million.
Meanwhile, e-Sports will receive an increased allocation of RM20 million in 2020, said the Minister.

Digital economy initiatives at forefront of Budget 2020
KUALA LUMPUR (Oct 11): The Government is giving grants to incentivise businesses to automate and digitalise their businesses.
Finance Minister Lim Guan Eng today announced various initiatives and incentives for the development of “digital applications, digital companies, and digital Malaysians” in the National Budget 2020.
This is on top of the five-year National Fiberisation and Connectivity Plan (NFCP) announced earlier, which will be undertaken via a public-private partnership approach involving a total investment of RM21.6 billion.
In his speech in Parliament when tabling the national Budget, Lim said the Government is allocating RM550 million in smart automation matching grants to 1,000 manufacturing and 1,000 services companies to automate their business processes. This grant will be given on a matching basis up to RM2 million per company.
Electrical and electronics (E&E) companies that invest in knowledge-based services, will get a tax exemption for up to 10 years. There is also a special investment allowance for existing E&E companies that have had their reinvestment allowance expired.
In addition, the first 100,000 small and medium enterprises (SMEs) may receive a 50% matching grant of up to RM5,000 a company, for the subscription of digital services for business operations, such as electronic Point of Sale systems (e-POS), Enterprise Resources Planning (ERP) and electronic payroll systems.
To seed Malaysian companies to ride the global 5G wave, Guan Eng said the government is budgeting a 5G ecosystem development grant of RM50 million.
Besides, an RM25 million contestable matching grant fund has been proposed to spur more pilot projects on digital applications, such as drone delivery, autonomous vehicles and blockchain technology, to leverage on Malaysia’s fibre optics and 5G infrastructure.
Guan Eng said tax deductions will be given on companies’ contributions towards the newly coined Digital Social Responsibility (DSR), which is the commitment by businesses to contribute to digital economic development while improving digital skills of the future workforce.
A budget of RM100 million will be allocated to Malaysian Digital Economy Corporation (MDEC), the bulk of which (RM70 million) will be for the setting up of 14 one-stop digital enhancement centres in all States.
The setting up of the centres, as an extension of the ‘100 Go Digital’ programme, is to facilitate access to financing and capacity building of businesses, especially the SMEs, in line with the fourth industrial revolution (IR4.0).
The Government also intends to continue providing funds of RM10 million to MDEC to train micro-digital entrepreneurs and technologists, and another RM20 million to grow local champions in creating digital content, especially in e-Games, animation, and digital arts.
Qualified Malaysians aged 18 and above with annual income less than RM100,000 will get a one-time RM30 digital stimulus, to significantly boost the use of e-wallets given the low adoption of e-wallet at 8% as at January. This will cost the government a total of RM450 million.
Meanwhile, e-Sports will receive an increased allocation of RM20 million in 2020, said the Minister.

Digital economy initiatives at forefront of Budget 2020
KUALA LUMPUR (Oct 11): The Government is giving grants to incentivise businesses to automate and digitalise their businesses.
Finance Minister Lim Guan Eng today announced various initiatives and incentives for the development of “digital applications, digital companies, and digital Malaysians” in the National Budget 2020.
This is on top of the five-year National Fiberisation and Connectivity Plan (NFCP) announced earlier, which will be undertaken via a public-private partnership approach involving a total investment of RM21.6 billion.
In his speech in Parliament when tabling the national Budget, Lim said the Government is allocating RM550 million in smart automation matching grants to 1,000 manufacturing and 1,000 services companies to automate their business processes. This grant will be given on a matching basis up to RM2 million per company.
Electrical and electronics (E&E) companies that invest in knowledge-based services, will get a tax exemption for up to 10 years. There is also a special investment allowance for existing E&E companies that have had their reinvestment allowance expired.
In addition, the first 100,000 small and medium enterprises (SMEs) may receive a 50% matching grant of up to RM5,000 a company, for the subscription of digital services for business operations, such as electronic Point of Sale systems (e-POS), Enterprise Resources Planning (ERP) and electronic payroll systems.
To seed Malaysian companies to ride the global 5G wave, Guan Eng said the government is budgeting a 5G ecosystem development grant of RM50 million.
Besides, an RM25 million contestable matching grant fund has been proposed to spur more pilot projects on digital applications, such as drone delivery, autonomous vehicles and blockchain technology, to leverage on Malaysia’s fibre optics and 5G infrastructure.
Guan Eng said tax deductions will be given on companies’ contributions towards the newly coined Digital Social Responsibility (DSR), which is the commitment by businesses to contribute to digital economic development while improving digital skills of the future workforce.
A budget of RM100 million will be allocated to Malaysian Digital Economy Corporation (MDEC), the bulk of which (RM70 million) will be for the setting up of 14 one-stop digital enhancement centres in all States.
The setting up of the centres, as an extension of the ‘100 Go Digital’ programme, is to facilitate access to financing and capacity building of businesses, especially the SMEs, in line with the fourth industrial revolution (IR4.0).
The Government also intends to continue providing funds of RM10 million to MDEC to train micro-digital entrepreneurs and technologists, and another RM20 million to grow local champions in creating digital content, especially in e-Games, animation, and digital arts.
Qualified Malaysians aged 18 and above with annual income less than RM100,000 will get a one-time RM30 digital stimulus, to significantly boost the use of e-wallets given the low adoption of e-wallet at 8% as at January. This will cost the government a total of RM450 million.
Meanwhile, e-Sports will receive an increased allocation of RM20 million in 2020, said the Minister.

Digital economy initiatives at forefront of Budget 2020
KUALA LUMPUR (Oct 11): The Government is giving grants to incentivise businesses to automate and digitalise their businesses.
Finance Minister Lim Guan Eng today announced various initiatives and incentives for the development of “digital applications, digital companies, and digital Malaysians” in the National Budget 2020.
This is on top of the five-year National Fiberisation and Connectivity Plan (NFCP) announced earlier, which will be undertaken via a public-private partnership approach involving a total investment of RM21.6 billion.
In his speech in Parliament when tabling the national Budget, Lim said the Government is allocating RM550 million in smart automation matching grants to 1,000 manufacturing and 1,000 services companies to automate their business processes. This grant will be given on a matching basis up to RM2 million per company.
Electrical and electronics (E&E) companies that invest in knowledge-based services, will get a tax exemption for up to 10 years. There is also a special investment allowance for existing E&E companies that have had their reinvestment allowance expired.
In addition, the first 100,000 small and medium enterprises (SMEs) may receive a 50% matching grant of up to RM5,000 a company, for the subscription of digital services for business operations, such as electronic Point of Sale systems (e-POS), Enterprise Resources Planning (ERP) and electronic payroll systems.
To seed Malaysian companies to ride the global 5G wave, Guan Eng said the government is budgeting a 5G ecosystem development grant of RM50 million.
Besides, an RM25 million contestable matching grant fund has been proposed to spur more pilot projects on digital applications, such as drone delivery, autonomous vehicles and blockchain technology, to leverage on Malaysia’s fibre optics and 5G infrastructure.
Guan Eng said tax deductions will be given on companies’ contributions towards the newly coined Digital Social Responsibility (DSR), which is the commitment by businesses to contribute to digital economic development while improving digital skills of the future workforce.
A budget of RM100 million will be allocated to Malaysian Digital Economy Corporation (MDEC), the bulk of which (RM70 million) will be for the setting up of 14 one-stop digital enhancement centres in all States.
The setting up of the centres, as an extension of the ‘100 Go Digital’ programme, is to facilitate access to financing and capacity building of businesses, especially the SMEs, in line with the fourth industrial revolution (IR4.0).
The Government also intends to continue providing funds of RM10 million to MDEC to train micro-digital entrepreneurs and technologists, and another RM20 million to grow local champions in creating digital content, especially in e-Games, animation, and digital arts.
Qualified Malaysians aged 18 and above with annual income less than RM100,000 will get a one-time RM30 digital stimulus, to significantly boost the use of e-wallets given the low adoption of e-wallet at 8% as at January. This will cost the government a total of RM450 million.
Meanwhile, e-Sports will receive an increased allocation of RM20 million in 2020, said the Minister.

Digital economy initiatives at forefront of Budget 2020
KUALA LUMPUR (Oct 11): The Government is giving grants to incentivise businesses to automate and digitalise their businesses.
Finance Minister Lim Guan Eng today announced various initiatives and incentives for the development of “digital applications, digital companies, and digital Malaysians” in the National Budget 2020.
This is on top of the five-year National Fiberisation and Connectivity Plan (NFCP) announced earlier, which will be undertaken via a public-private partnership approach involving a total investment of RM21.6 billion.
In his speech in Parliament when tabling the national Budget, Lim said the Government is allocating RM550 million in smart automation matching grants to 1,000 manufacturing and 1,000 services companies to automate their business processes. This grant will be given on a matching basis up to RM2 million per company.
Electrical and electronics (E&E) companies that invest in knowledge-based services, will get a tax exemption for up to 10 years. There is also a special investment allowance for existing E&E companies that have had their reinvestment allowance expired.
In addition, the first 100,000 small and medium enterprises (SMEs) may receive a 50% matching grant of up to RM5,000 a company, for the subscription of digital services for business operations, such as electronic Point of Sale systems (e-POS), Enterprise Resources Planning (ERP) and electronic payroll systems.
To seed Malaysian companies to ride the global 5G wave, Guan Eng said the government is budgeting a 5G ecosystem development grant of RM50 million.
Besides, an RM25 million contestable matching grant fund has been proposed to spur more pilot projects on digital applications, such as drone delivery, autonomous vehicles and blockchain technology, to leverage on Malaysia’s fibre optics and 5G infrastructure.
Guan Eng said tax deductions will be given on companies’ contributions towards the newly coined Digital Social Responsibility (DSR), which is the commitment by businesses to contribute to digital economic development while improving digital skills of the future workforce.
A budget of RM100 million will be allocated to Malaysian Digital Economy Corporation (MDEC), the bulk of which (RM70 million) will be for the setting up of 14 one-stop digital enhancement centres in all States.
The setting up of the centres, as an extension of the ‘100 Go Digital’ programme, is to facilitate access to financing and capacity building of businesses, especially the SMEs, in line with the fourth industrial revolution (IR4.0).
The Government also intends to continue providing funds of RM10 million to MDEC to train micro-digital entrepreneurs and technologists, and another RM20 million to grow local champions in creating digital content, especially in e-Games, animation, and digital arts.
Qualified Malaysians aged 18 and above with annual income less than RM100,000 will get a one-time RM30 digital stimulus, to significantly boost the use of e-wallets given the low adoption of e-wallet at 8% as at January. This will cost the government a total of RM450 million.
Meanwhile, e-Sports will receive an increased allocation of RM20 million in 2020, said the Minister.

Digital economy initiatives at forefront of Budget 2020
KUALA LUMPUR (Oct 11): The Government is giving grants to incentivise businesses to automate and digitalise their businesses.
Finance Minister Lim Guan Eng today announced various initiatives and incentives for the development of “digital applications, digital companies, and digital Malaysians” in the National Budget 2020.
This is on top of the five-year National Fiberisation and Connectivity Plan (NFCP) announced earlier, which will be undertaken via a public-private partnership approach involving a total investment of RM21.6 billion.
In his speech in Parliament when tabling the national Budget, Lim said the Government is allocating RM550 million in smart automation matching grants to 1,000 manufacturing and 1,000 services companies to automate their business processes. This grant will be given on a matching basis up to RM2 million per company.
Electrical and electronics (E&E) companies that invest in knowledge-based services, will get a tax exemption for up to 10 years. There is also a special investment allowance for existing E&E companies that have had their reinvestment allowance expired.
In addition, the first 100,000 small and medium enterprises (SMEs) may receive a 50% matching grant of up to RM5,000 a company, for the subscription of digital services for business operations, such as electronic Point of Sale systems (e-POS), Enterprise Resources Planning (ERP) and electronic payroll systems.
To seed Malaysian companies to ride the global 5G wave, Guan Eng said the government is budgeting a 5G ecosystem development grant of RM50 million.
Besides, an RM25 million contestable matching grant fund has been proposed to spur more pilot projects on digital applications, such as drone delivery, autonomous vehicles and blockchain technology, to leverage on Malaysia’s fibre optics and 5G infrastructure.
Guan Eng said tax deductions will be given on companies’ contributions towards the newly coined Digital Social Responsibility (DSR), which is the commitment by businesses to contribute to digital economic development while improving digital skills of the future workforce.
A budget of RM100 million will be allocated to Malaysian Digital Economy Corporation (MDEC), the bulk of which (RM70 million) will be for the setting up of 14 one-stop digital enhancement centres in all States.
The setting up of the centres, as an extension of the ‘100 Go Digital’ programme, is to facilitate access to financing and capacity building of businesses, especially the SMEs, in line with the fourth industrial revolution (IR4.0).
The Government also intends to continue providing funds of RM10 million to MDEC to train micro-digital entrepreneurs and technologists, and another RM20 million to grow local champions in creating digital content, especially in e-Games, animation, and digital arts.
Qualified Malaysians aged 18 and above with annual income less than RM100,000 will get a one-time RM30 digital stimulus, to significantly boost the use of e-wallets given the low adoption of e-wallet at 8% as at January. This will cost the government a total of RM450 million.
Meanwhile, e-Sports will receive an increased allocation of RM20 million in 2020, said the Minister.

Digital economy initiatives at forefront of Budget 2020
KUALA LUMPUR (Oct 11): The Government is giving grants to incentivise businesses to automate and digitalise their businesses.
Finance Minister Lim Guan Eng today announced various initiatives and incentives for the development of “digital applications, digital companies, and digital Malaysians” in the National Budget 2020.
This is on top of the five-year National Fiberisation and Connectivity Plan (NFCP) announced earlier, which will be undertaken via a public-private partnership approach involving a total investment of RM21.6 billion.
In his speech in Parliament when tabling the national Budget, Lim said the Government is allocating RM550 million in smart automation matching grants to 1,000 manufacturing and 1,000 services companies to automate their business processes. This grant will be given on a matching basis up to RM2 million per company.
Electrical and electronics (E&E) companies that invest in knowledge-based services, will get a tax exemption for up to 10 years. There is also a special investment allowance for existing E&E companies that have had their reinvestment allowance expired.
In addition, the first 100,000 small and medium enterprises (SMEs) may receive a 50% matching grant of up to RM5,000 a company, for the subscription of digital services for business operations, such as electronic Point of Sale systems (e-POS), Enterprise Resources Planning (ERP) and electronic payroll systems.
To seed Malaysian companies to ride the global 5G wave, Guan Eng said the government is budgeting a 5G ecosystem development grant of RM50 million.
Besides, an RM25 million contestable matching grant fund has been proposed to spur more pilot projects on digital applications, such as drone delivery, autonomous vehicles and blockchain technology, to leverage on Malaysia’s fibre optics and 5G infrastructure.
Guan Eng said tax deductions will be given on companies’ contributions towards the newly coined Digital Social Responsibility (DSR), which is the commitment by businesses to contribute to digital economic development while improving digital skills of the future workforce.
A budget of RM100 million will be allocated to Malaysian Digital Economy Corporation (MDEC), the bulk of which (RM70 million) will be for the setting up of 14 one-stop digital enhancement centres in all States.
The setting up of the centres, as an extension of the ‘100 Go Digital’ programme, is to facilitate access to financing and capacity building of businesses, especially the SMEs, in line with the fourth industrial revolution (IR4.0).
The Government also intends to continue providing funds of RM10 million to MDEC to train micro-digital entrepreneurs and technologists, and another RM20 million to grow local champions in creating digital content, especially in e-Games, animation, and digital arts.
Qualified Malaysians aged 18 and above with annual income less than RM100,000 will get a one-time RM30 digital stimulus, to significantly boost the use of e-wallets given the low adoption of e-wallet at 8% as at January. This will cost the government a total of RM450 million.
Meanwhile, e-Sports will receive an increased allocation of RM20 million in 2020, said the Minister.

Digital economy initiatives at forefront of Budget 2020
KUALA LUMPUR (Oct 11): The Government is giving grants to incentivise businesses to automate and digitalise their businesses.
Finance Minister Lim Guan Eng today announced various initiatives and incentives for the development of “digital applications, digital companies, and digital Malaysians” in the National Budget 2020.
This is on top of the five-year National Fiberisation and Connectivity Plan (NFCP) announced earlier, which will be undertaken via a public-private partnership approach involving a total investment of RM21.6 billion.
In his speech in Parliament when tabling the national Budget, Lim said the Government is allocating RM550 million in smart automation matching grants to 1,000 manufacturing and 1,000 services companies to automate their business processes. This grant will be given on a matching basis up to RM2 million per company.
Electrical and electronics (E&E) companies that invest in knowledge-based services, will get a tax exemption for up to 10 years. There is also a special investment allowance for existing E&E companies that have had their reinvestment allowance expired.
In addition, the first 100,000 small and medium enterprises (SMEs) may receive a 50% matching grant of up to RM5,000 a company, for the subscription of digital services for business operations, such as electronic Point of Sale systems (e-POS), Enterprise Resources Planning (ERP) and electronic payroll systems.
To seed Malaysian companies to ride the global 5G wave, Guan Eng said the government is budgeting a 5G ecosystem development grant of RM50 million.
Besides, an RM25 million contestable matching grant fund has been proposed to spur more pilot projects on digital applications, such as drone delivery, autonomous vehicles and blockchain technology, to leverage on Malaysia’s fibre optics and 5G infrastructure.
Guan Eng said tax deductions will be given on companies’ contributions towards the newly coined Digital Social Responsibility (DSR), which is the commitment by businesses to contribute to digital economic development while improving digital skills of the future workforce.
A budget of RM100 million will be allocated to Malaysian Digital Economy Corporation (MDEC), the bulk of which (RM70 million) will be for the setting up of 14 one-stop digital enhancement centres in all States.
The setting up of the centres, as an extension of the ‘100 Go Digital’ programme, is to facilitate access to financing and capacity building of businesses, especially the SMEs, in line with the fourth industrial revolution (IR4.0).
The Government also intends to continue providing funds of RM10 million to MDEC to train micro-digital entrepreneurs and technologists, and another RM20 million to grow local champions in creating digital content, especially in e-Games, animation, and digital arts.
Qualified Malaysians aged 18 and above with annual income less than RM100,000 will get a one-time RM30 digital stimulus, to significantly boost the use of e-wallets given the low adoption of e-wallet at 8% as at January. This will cost the government a total of RM450 million.
Meanwhile, e-Sports will receive an increased allocation of RM20 million in 2020, said the Minister.

Digital economy initiatives at forefront of Budget 2020
KUALA LUMPUR (Oct 11): The Government is giving grants to incentivise businesses to automate and digitalise their businesses.
Finance Minister Lim Guan Eng today announced various initiatives and incentives for the development of “digital applications, digital companies, and digital Malaysians” in the National Budget 2020.
This is on top of the five-year National Fiberisation and Connectivity Plan (NFCP) announced earlier, which will be undertaken via a public-private partnership approach involving a total investment of RM21.6 billion.
In his speech in Parliament when tabling the national Budget, Lim said the Government is allocating RM550 million in smart automation matching grants to 1,000 manufacturing and 1,000 services companies to automate their business processes. This grant will be given on a matching basis up to RM2 million per company.
Electrical and electronics (E&E) companies that invest in knowledge-based services, will get a tax exemption for up to 10 years. There is also a special investment allowance for existing E&E companies that have had their reinvestment allowance expired.
In addition, the first 100,000 small and medium enterprises (SMEs) may receive a 50% matching grant of up to RM5,000 a company, for the subscription of digital services for business operations, such as electronic Point of Sale systems (e-POS), Enterprise Resources Planning (ERP) and electronic payroll systems.
To seed Malaysian companies to ride the global 5G wave, Guan Eng said the government is budgeting a 5G ecosystem development grant of RM50 million.
Besides, an RM25 million contestable matching grant fund has been proposed to spur more pilot projects on digital applications, such as drone delivery, autonomous vehicles and blockchain technology, to leverage on Malaysia’s fibre optics and 5G infrastructure.
Guan Eng said tax deductions will be given on companies’ contributions towards the newly coined Digital Social Responsibility (DSR), which is the commitment by businesses to contribute to digital economic development while improving digital skills of the future workforce.
A budget of RM100 million will be allocated to Malaysian Digital Economy Corporation (MDEC), the bulk of which (RM70 million) will be for the setting up of 14 one-stop digital enhancement centres in all States.
The setting up of the centres, as an extension of the ‘100 Go Digital’ programme, is to facilitate access to financing and capacity building of businesses, especially the SMEs, in line with the fourth industrial revolution (IR4.0).
The Government also intends to continue providing funds of RM10 million to MDEC to train micro-digital entrepreneurs and technologists, and another RM20 million to grow local champions in creating digital content, especially in e-Games, animation, and digital arts.
Qualified Malaysians aged 18 and above with annual income less than RM100,000 will get a one-time RM30 digital stimulus, to significantly boost the use of e-wallets given the low adoption of e-wallet at 8% as at January. This will cost the government a total of RM450 million.
Meanwhile, e-Sports will receive an increased allocation of RM20 million in 2020, said the Minister.

SC lauds measures to catalyse transition into digital economy
KUALA LUMPUR (Oct 11): The Securities Commission (SC) has lauded the measures outlined by the Government in the 2020 Budget to catalyse the country's transition into higher value-added activities and accelerate the digital economy, while making sure that no Malaysians are left behind.
It said a host of measures introduced would further develop the country's financing ecosystem to better serve the broader economy.
“These include allocations to further enhance innovative market-based financing as viable financing options for our MSMEs, the comprehensive efforts to enhance Malaysia’s position as a leading Islamic finance player, and the further refinement of the Private Retirement Scheme,” the SC said in a statement today.
The SC said it would work closely with the Finance Ministry and all relevant parties to ensure that the Malaysian capital market is well-placed to facilitate the achievement of intended outcomes, especially in the efficient provision of financing and capital needed for the economy.

SC lauds measures to catalyse transition into digital economy
KUALA LUMPUR (Oct 11): The Securities Commission (SC) has lauded the measures outlined by the Government in the 2020 Budget to catalyse the country's transition into higher value-added activities and accelerate the digital economy, while making sure that no Malaysians are left behind.
It said a host of measures introduced would further develop the country's financing ecosystem to better serve the broader economy.
“These include allocations to further enhance innovative market-based financing as viable financing options for our MSMEs, the comprehensive efforts to enhance Malaysia’s position as a leading Islamic finance player, and the further refinement of the Private Retirement Scheme,” the SC said in a statement today.
The SC said it would work closely with the Finance Ministry and all relevant parties to ensure that the Malaysian capital market is well-placed to facilitate the achievement of intended outcomes, especially in the efficient provision of financing and capital needed for the economy.

One-time RM30 e-wallet stimulus from Govt will greatly drive adoption
KUALA LUMPUR (Oct 11): Malaysia’s homegrown e-wallet service provider Boost welcomed the Government’s announcement to offer a one-time RM30 stimulus for qualified Malaysians that register with selected e-wallet providers in order to increase e-wallet usage.
“The Government’s e-wallet stimulus initiative will greatly drive the adoption of e-wallets as an exceedingly convenient method of payment for consumers,” said Boost chief executive officer Mohd Khairil Abdullah in a statement today.
“Importantly, it can also be viewed as a form of endorsement of the technology used, which is safe and very secure for financial transactions,” he said.
At the Budget 2020 tabling today, Minister of Finance Lim Guan Eng said that the Government will provide the one-time stimulus to qualified Malaysians aged 18 and above with annual income below RM100,000.
“The one-time digital stimulus per person can be redeemed and used for a two-month period commencing 1 January 2020 and expiring on 29 February 2020.
“The Government will allocate up to RM450 million to Khazanah Nasional to implement this digital stimulus, which will benefit up to 15 million Malaysians,” Lim said.
This move, Lim added, is also to significantly increase the number of participating merchants and small and medium enterprises (SMEs) in the usage of e-wallets.
In his statement, Khairil said for many Malaysians, the Government’s e-wallet stimulus will encourage them to try a new experience — their first time using an e-wallet.
He pointed out that while retail brands have embraced the digital payment ecosystem, the landscape is also changing where many small and micro businesses are also adopting e-wallet payments.
“We hope we can be a driver of change for the country in our journey towards becoming a cashless society.
“The Government’s e-wallet stimulus will certainly spur domestic spending for local merchants which not only spreads more prosperity throughout our economy but will also catalyze higher adoption of digital payments amongst businesses,” he added.

RM1b in customised packaged incentives to woo Fortune 500 and unicorn firms
KUALA LUMPUR (Oct 11): The Government is making available RM1 billion in customised packaged incentives to attract investment from Fortune 500 and global unicorn companies in high technologies, manufacturing, creative and new economic sectors.
Tabling Budget 2020 in Parliament today, Finance Minister Lim Guan Eng said the RM1 billion incentive will be made available annually over five years.
In order to qualify these companies must invest at least RM5 billion each in Malaysia that will generate additional economic activities to support Malaysian small to medium enterprises, creating 150,000 high quality jobs over the next five years and strengthen Malaysia’s manufacturing and service ecosystems.
In addition, the Government will also offer Malaysian companies some RM1 billion in customised investment incentives annually over the next five years.
According to Lim, this is done to turn Malaysia’s “best and most promising businesses into the most competitive enterprises in global export markets”.
The incentives are strictly conditional on recipient companies proving that they are able to grow and export their products and services globally.
Lim added that this measure is expected to significantly strengthen Malaysia’s local supply chain ecosystem and lead to the creation of some 100,000 high-quality jobs for Malaysians over the next five years.

New Economic Model which advocates Shared Prosperity
PUTRAJAYA: Prime Minister Tun Dr Mahathir Mohamad has introduced a new economic model which advocates shared prosperity, with a target to provide a “decent standard of living for all Malaysians” by 2030 regardless of economic class, race and geographic location.

The new economic model will replace the one that was used in the past decade, which has failed to push Malaysia towards developed nation status as underlined in Vision 2020, said Dr Mahathir in his special address yesterday in conjunction with the first anniversary of “Malaysia Baharu” — the nation’s first change in federal government since its inception.

“In the past decade, the nation’s economy has transformed radically and this resulted in us not being able to become a developed nation as underlined under Vision 2020. The economic model in the past decade only focused on adding more national debt for megaprojects,” Dr Mahathir said.

“The 70% increase in job availability comprised unskilled jobs. Much of the nation’s equity ownership turned to foreign hands. Economic growth focused on the country’s major cities, and sidelined equity ownership and growth, as well as opportunities for locals,” he added.

As such, Dr Mahathir said the government has taken the approach where “the nation’s development today provides shared prosperity to the rakyat”.

This, the prime minister said, underlined better purchasing power for the people, and the narrowing of income and wealth gaps between classes, races, territories as well as the “extreme disparity in [the] supply chain”.

“In its simple definition, the efforts towards shared prosperity will allow Malaysia to be a nation that grows continually and sustainably concurrent with fair and inclusive equitable growth across the value chain, classes, ethnicity, and geography until it results in stability and harmony among the people by 2030,” Dr Mahathir said.

The shared prosperity model comprises three main objectives, he said.

Aside from overcoming wage and wealth gaps, the economic model will also introduce a new economic model for all — to create a more structured economy that is progressive and hinges on knowledge and values with participation from Malaysians across the board.

Additionally, the shared prosperity model will hopefully turn Malaysia into an important economic axis in Asia moving forward, Dr Mahathir added.

To establish this economic approach, Dr Mahathir underlined seven key pillars:

• better structuring and improving the nation’s business and industry ecosystems such as via adoption of Industrial Revolution 4.0

• application of digital economy, and adding more high-skilled jobs

• exploring new growth sectors, and turning Malaysia from a consumer nation to one that produces more international standard products

• reforming human capital, to improve labour market and wages

• strengthening social well-being through needs-based policies

• inclusive territorial development

• improving society capital, combined with strong social support mechanisms.

Additionally, Dr Mahathir also mentioned other enablers to achieve this goal, including a progressive fiscal policy, an administration with high integrity, an effective government institution delivery, better education, monetary stability, a comprehensive Big Data mechanism, as well as a civil and knowledgeable community.

“We hope the concept and planning can be scrutinised further across all levels of the Malaysian community, and will be brought to the grassroots level to obtain feedback and better ideas before it can be included in the 12th and 13th Malaysia Plan to achieve the target of Shared Prosperity 2030,” said Dr Mahathir.

New Economic Model which advocates Shared Prosperity
PUTRAJAYA: Prime Minister Tun Dr Mahathir Mohamad has introduced a new economic model which advocates shared prosperity, with a target to provide a “decent standard of living for all Malaysians” by 2030 regardless of economic class, race and geographic location.

The new economic model will replace the one that was used in the past decade, which has failed to push Malaysia towards developed nation status as underlined in Vision 2020, said Dr Mahathir in his special address yesterday in conjunction with the first anniversary of “Malaysia Baharu” — the nation’s first change in federal government since its inception.

“In the past decade, the nation’s economy has transformed radically and this resulted in us not being able to become a developed nation as underlined under Vision 2020. The economic model in the past decade only focused on adding more national debt for megaprojects,” Dr Mahathir said.

“The 70% increase in job availability comprised unskilled jobs. Much of the nation’s equity ownership turned to foreign hands. Economic growth focused on the country’s major cities, and sidelined equity ownership and growth, as well as opportunities for locals,” he added.

As such, Dr Mahathir said the government has taken the approach where “the nation’s development today provides shared prosperity to the rakyat”.

This, the prime minister said, underlined better purchasing power for the people, and the narrowing of income and wealth gaps between classes, races, territories as well as the “extreme disparity in [the] supply chain”.

“In its simple definition, the efforts towards shared prosperity will allow Malaysia to be a nation that grows continually and sustainably concurrent with fair and inclusive equitable growth across the value chain, classes, ethnicity, and geography until it results in stability and harmony among the people by 2030,” Dr Mahathir said.

The shared prosperity model comprises three main objectives, he said.

Aside from overcoming wage and wealth gaps, the economic model will also introduce a new economic model for all — to create a more structured economy that is progressive and hinges on knowledge and values with participation from Malaysians across the board.

Additionally, the shared prosperity model will hopefully turn Malaysia into an important economic axis in Asia moving forward, Dr Mahathir added.

To establish this economic approach, Dr Mahathir underlined seven key pillars:

• better structuring and improving the nation’s business and industry ecosystems such as via adoption of Industrial Revolution 4.0

• application of digital economy, and adding more high-skilled jobs

• exploring new growth sectors, and turning Malaysia from a consumer nation to one that produces more international standard products

• reforming human capital, to improve labour market and wages

• strengthening social well-being through needs-based policies

• inclusive territorial development

• improving society capital, combined with strong social support mechanisms.

Additionally, Dr Mahathir also mentioned other enablers to achieve this goal, including a progressive fiscal policy, an administration with high integrity, an effective government institution delivery, better education, monetary stability, a comprehensive Big Data mechanism, as well as a civil and knowledgeable community.

“We hope the concept and planning can be scrutinised further across all levels of the Malaysian community, and will be brought to the grassroots level to obtain feedback and better ideas before it can be included in the 12th and 13th Malaysia Plan to achieve the target of Shared Prosperity 2030,” said Dr Mahathir.

New Economic Model which advocates Shared Prosperity
PUTRAJAYA: Prime Minister Tun Dr Mahathir Mohamad has introduced a new economic model which advocates shared prosperity, with a target to provide a “decent standard of living for all Malaysians” by 2030 regardless of economic class, race and geographic location.

The new economic model will replace the one that was used in the past decade, which has failed to push Malaysia towards developed nation status as underlined in Vision 2020, said Dr Mahathir in his special address yesterday in conjunction with the first anniversary of “Malaysia Baharu” — the nation’s first change in federal government since its inception.

“In the past decade, the nation’s economy has transformed radically and this resulted in us not being able to become a developed nation as underlined under Vision 2020. The economic model in the past decade only focused on adding more national debt for megaprojects,” Dr Mahathir said.

“The 70% increase in job availability comprised unskilled jobs. Much of the nation’s equity ownership turned to foreign hands. Economic growth focused on the country’s major cities, and sidelined equity ownership and growth, as well as opportunities for locals,” he added.

As such, Dr Mahathir said the government has taken the approach where “the nation’s development today provides shared prosperity to the rakyat”.

This, the prime minister said, underlined better purchasing power for the people, and the narrowing of income and wealth gaps between classes, races, territories as well as the “extreme disparity in [the] supply chain”.

“In its simple definition, the efforts towards shared prosperity will allow Malaysia to be a nation that grows continually and sustainably concurrent with fair and inclusive equitable growth across the value chain, classes, ethnicity, and geography until it results in stability and harmony among the people by 2030,” Dr Mahathir said.

The shared prosperity model comprises three main objectives, he said.

Aside from overcoming wage and wealth gaps, the economic model will also introduce a new economic model for all — to create a more structured economy that is progressive and hinges on knowledge and values with participation from Malaysians across the board.

Additionally, the shared prosperity model will hopefully turn Malaysia into an important economic axis in Asia moving forward, Dr Mahathir added.

To establish this economic approach, Dr Mahathir underlined seven key pillars:

• better structuring and improving the nation’s business and industry ecosystems such as via adoption of Industrial Revolution 4.0

• application of digital economy, and adding more high-skilled jobs

• exploring new growth sectors, and turning Malaysia from a consumer nation to one that produces more international standard products

• reforming human capital, to improve labour market and wages

• strengthening social well-being through needs-based policies

• inclusive territorial development

• improving society capital, combined with strong social support mechanisms.

Additionally, Dr Mahathir also mentioned other enablers to achieve this goal, including a progressive fiscal policy, an administration with high integrity, an effective government institution delivery, better education, monetary stability, a comprehensive Big Data mechanism, as well as a civil and knowledgeable community.

“We hope the concept and planning can be scrutinised further across all levels of the Malaysian community, and will be brought to the grassroots level to obtain feedback and better ideas before it can be included in the 12th and 13th Malaysia Plan to achieve the target of Shared Prosperity 2030,” said Dr Mahathir.

Budget 2020 seeks to change economic landscape

KUALA LUMPUR (Oct 11): Many quarters are pinning high hopes for the 2020 Budget for measures to boost domestic demand and spur the economy as the current external headwinds, especially trade tensions, are dampening external consumption.

Between January and July 2019, Malaysia's trade surplus rose 15.9 per cent to RM81.62 billion from the same period a year ago, but total trade slipped 1.4 per cent to RM1.06 trillion.

Many Malaysians have shared their big expectations and aspirations for the budget, which will be tabled by Finance Minister Lim Guan Eng at the Dewan Rakyat today.

These include the desire to see the implementation of socio-economic initiatives that directly impact ongoing digital transformation under fourth industrial revolution.

People on the street are eager to know the initiatives being formulated to cope with the raising cost of living and better opportunities to be availed to enable them to enjoy a quality life.

Meanwhile, many economists have expressed hope that the budget will provide greater direction from the government of its vision and focus on sustainable growth.

They also called for a moderation in the fiscal consolidation by the government in view of the soft economic outlook.

Tax experts want a special attention be given to support growth of businesses and enhance the current tax administration.

They believe that the government should reduce personal income tax to increase disposable income so that the people will have more buying power to create spin-off effects to boost domestic consumption.

On the housing market, industry players have urged the government to consider market intervention to address the unprecedented issue of over-supply and over pricing of residential properties.

One thing for sure, the Pakatan Harapan government is listening to the people, while trying to keep its promise to restore Malaysia back to its fiscal health by 2022, despite having inherited a worrisome financial position.

The majority of analysts say Budget 2020 will reflect the government’s Shared Prosperity Vision 2030 that aims to restructure the economy and bridge disparities between the wealthy and the impoverished.

Budget 2020 seeks to change economic landscape

KUALA LUMPUR (Oct 11): Many quarters are pinning high hopes for the 2020 Budget for measures to boost domestic demand and spur the economy as the current external headwinds, especially trade tensions, are dampening external consumption.

Between January and July 2019, Malaysia's trade surplus rose 15.9 per cent to RM81.62 billion from the same period a year ago, but total trade slipped 1.4 per cent to RM1.06 trillion.

Many Malaysians have shared their big expectations and aspirations for the budget, which will be tabled by Finance Minister Lim Guan Eng at the Dewan Rakyat today.

These include the desire to see the implementation of socio-economic initiatives that directly impact ongoing digital transformation under fourth industrial revolution.

People on the street are eager to know the initiatives being formulated to cope with the raising cost of living and better opportunities to be availed to enable them to enjoy a quality life.

Meanwhile, many economists have expressed hope that the budget will provide greater direction from the government of its vision and focus on sustainable growth.

They also called for a moderation in the fiscal consolidation by the government in view of the soft economic outlook.

Tax experts want a special attention be given to support growth of businesses and enhance the current tax administration.

They believe that the government should reduce personal income tax to increase disposable income so that the people will have more buying power to create spin-off effects to boost domestic consumption.

On the housing market, industry players have urged the government to consider market intervention to address the unprecedented issue of over-supply and over pricing of residential properties.

One thing for sure, the Pakatan Harapan government is listening to the people, while trying to keep its promise to restore Malaysia back to its fiscal health by 2022, despite having inherited a worrisome financial position.

The majority of analysts say Budget 2020 will reflect the government’s Shared Prosperity Vision 2030 that aims to restructure the economy and bridge disparities between the wealthy and the impoverished.

Budget 2020 seeks to change economic landscape

KUALA LUMPUR (Oct 11): Many quarters are pinning high hopes for the 2020 Budget for measures to boost domestic demand and spur the economy as the current external headwinds, especially trade tensions, are dampening external consumption.

Between January and July 2019, Malaysia's trade surplus rose 15.9 per cent to RM81.62 billion from the same period a year ago, but total trade slipped 1.4 per cent to RM1.06 trillion.

Many Malaysians have shared their big expectations and aspirations for the budget, which will be tabled by Finance Minister Lim Guan Eng at the Dewan Rakyat today.

These include the desire to see the implementation of socio-economic initiatives that directly impact ongoing digital transformation under fourth industrial revolution.

People on the street are eager to know the initiatives being formulated to cope with the raising cost of living and better opportunities to be availed to enable them to enjoy a quality life.

Meanwhile, many economists have expressed hope that the budget will provide greater direction from the government of its vision and focus on sustainable growth.

They also called for a moderation in the fiscal consolidation by the government in view of the soft economic outlook.

Tax experts want a special attention be given to support growth of businesses and enhance the current tax administration.

They believe that the government should reduce personal income tax to increase disposable income so that the people will have more buying power to create spin-off effects to boost domestic consumption.

On the housing market, industry players have urged the government to consider market intervention to address the unprecedented issue of over-supply and over pricing of residential properties.

One thing for sure, the Pakatan Harapan government is listening to the people, while trying to keep its promise to restore Malaysia back to its fiscal health by 2022, despite having inherited a worrisome financial position.

The majority of analysts say Budget 2020 will reflect the government’s Shared Prosperity Vision 2030 that aims to restructure the economy and bridge disparities between the wealthy and the impoverished.

Budget 2020 seeks to change economic landscape

KUALA LUMPUR (Oct 11): Many quarters are pinning high hopes for the 2020 Budget for measures to boost domestic demand and spur the economy as the current external headwinds, especially trade tensions, are dampening external consumption.

Between January and July 2019, Malaysia's trade surplus rose 15.9 per cent to RM81.62 billion from the same period a year ago, but total trade slipped 1.4 per cent to RM1.06 trillion.

Many Malaysians have shared their big expectations and aspirations for the budget, which will be tabled by Finance Minister Lim Guan Eng at the Dewan Rakyat today.

These include the desire to see the implementation of socio-economic initiatives that directly impact ongoing digital transformation under fourth industrial revolution.

People on the street are eager to know the initiatives being formulated to cope with the raising cost of living and better opportunities to be availed to enable them to enjoy a quality life.

Meanwhile, many economists have expressed hope that the budget will provide greater direction from the government of its vision and focus on sustainable growth.

They also called for a moderation in the fiscal consolidation by the government in view of the soft economic outlook.

Tax experts want a special attention be given to support growth of businesses and enhance the current tax administration.

They believe that the government should reduce personal income tax to increase disposable income so that the people will have more buying power to create spin-off effects to boost domestic consumption.

On the housing market, industry players have urged the government to consider market intervention to address the unprecedented issue of over-supply and over pricing of residential properties.

One thing for sure, the Pakatan Harapan government is listening to the people, while trying to keep its promise to restore Malaysia back to its fiscal health by 2022, despite having inherited a worrisome financial position.

The majority of analysts say Budget 2020 will reflect the government’s Shared Prosperity Vision 2030 that aims to restructure the economy and bridge disparities between the wealthy and the impoverished.

Budget 2020 seeks to change economic landscape

KUALA LUMPUR (Oct 11): Many quarters are pinning high hopes for the 2020 Budget for measures to boost domestic demand and spur the economy as the current external headwinds, especially trade tensions, are dampening external consumption.

Between January and July 2019, Malaysia's trade surplus rose 15.9 per cent to RM81.62 billion from the same period a year ago, but total trade slipped 1.4 per cent to RM1.06 trillion.

Many Malaysians have shared their big expectations and aspirations for the budget, which will be tabled by Finance Minister Lim Guan Eng at the Dewan Rakyat today.

These include the desire to see the implementation of socio-economic initiatives that directly impact ongoing digital transformation under fourth industrial revolution.

People on the street are eager to know the initiatives being formulated to cope with the raising cost of living and better opportunities to be availed to enable them to enjoy a quality life.

Meanwhile, many economists have expressed hope that the budget will provide greater direction from the government of its vision and focus on sustainable growth.

They also called for a moderation in the fiscal consolidation by the government in view of the soft economic outlook.

Tax experts want a special attention be given to support growth of businesses and enhance the current tax administration.

They believe that the government should reduce personal income tax to increase disposable income so that the people will have more buying power to create spin-off effects to boost domestic consumption.

On the housing market, industry players have urged the government to consider market intervention to address the unprecedented issue of over-supply and over pricing of residential properties.

One thing for sure, the Pakatan Harapan government is listening to the people, while trying to keep its promise to restore Malaysia back to its fiscal health by 2022, despite having inherited a worrisome financial position.

The majority of analysts say Budget 2020 will reflect the government’s Shared Prosperity Vision 2030 that aims to restructure the economy and bridge disparities between the wealthy and the impoverished.

Budget 2020 seeks to change economic landscape

KUALA LUMPUR (Oct 11): Many quarters are pinning high hopes for the 2020 Budget for measures to boost domestic demand and spur the economy as the current external headwinds, especially trade tensions, are dampening external consumption.

Between January and July 2019, Malaysia's trade surplus rose 15.9 per cent to RM81.62 billion from the same period a year ago, but total trade slipped 1.4 per cent to RM1.06 trillion.

Many Malaysians have shared their big expectations and aspirations for the budget, which will be tabled by Finance Minister Lim Guan Eng at the Dewan Rakyat today.

These include the desire to see the implementation of socio-economic initiatives that directly impact ongoing digital transformation under fourth industrial revolution.

People on the street are eager to know the initiatives being formulated to cope with the raising cost of living and better opportunities to be availed to enable them to enjoy a quality life.

Meanwhile, many economists have expressed hope that the budget will provide greater direction from the government of its vision and focus on sustainable growth.

They also called for a moderation in the fiscal consolidation by the government in view of the soft economic outlook.

Tax experts want a special attention be given to support growth of businesses and enhance the current tax administration.

They believe that the government should reduce personal income tax to increase disposable income so that the people will have more buying power to create spin-off effects to boost domestic consumption.

On the housing market, industry players have urged the government to consider market intervention to address the unprecedented issue of over-supply and over pricing of residential properties.

One thing for sure, the Pakatan Harapan government is listening to the people, while trying to keep its promise to restore Malaysia back to its fiscal health by 2022, despite having inherited a worrisome financial position.

The majority of analysts say Budget 2020 will reflect the government’s Shared Prosperity Vision 2030 that aims to restructure the economy and bridge disparities between the wealthy and the impoverished.

Budget 2020 seeks to change economic landscape

KUALA LUMPUR (Oct 11): Many quarters are pinning high hopes for the 2020 Budget for measures to boost domestic demand and spur the economy as the current external headwinds, especially trade tensions, are dampening external consumption.

Between January and July 2019, Malaysia's trade surplus rose 15.9 per cent to RM81.62 billion from the same period a year ago, but total trade slipped 1.4 per cent to RM1.06 trillion.

Many Malaysians have shared their big expectations and aspirations for the budget, which will be tabled by Finance Minister Lim Guan Eng at the Dewan Rakyat today.

These include the desire to see the implementation of socio-economic initiatives that directly impact ongoing digital transformation under fourth industrial revolution.

People on the street are eager to know the initiatives being formulated to cope with the raising cost of living and better opportunities to be availed to enable them to enjoy a quality life.

Meanwhile, many economists have expressed hope that the budget will provide greater direction from the government of its vision and focus on sustainable growth.

They also called for a moderation in the fiscal consolidation by the government in view of the soft economic outlook.

Tax experts want a special attention be given to support growth of businesses and enhance the current tax administration.

They believe that the government should reduce personal income tax to increase disposable income so that the people will have more buying power to create spin-off effects to boost domestic consumption.

On the housing market, industry players have urged the government to consider market intervention to address the unprecedented issue of over-supply and over pricing of residential properties.

One thing for sure, the Pakatan Harapan government is listening to the people, while trying to keep its promise to restore Malaysia back to its fiscal health by 2022, despite having inherited a worrisome financial position.

The majority of analysts say Budget 2020 will reflect the government’s Shared Prosperity Vision 2030 that aims to restructure the economy and bridge disparities between the wealthy and the impoverished.

Budget 2020 seeks to change economic landscape

KUALA LUMPUR (Oct 11): Many quarters are pinning high hopes for the 2020 Budget for measures to boost domestic demand and spur the economy as the current external headwinds, especially trade tensions, are dampening external consumption.

Between January and July 2019, Malaysia's trade surplus rose 15.9 per cent to RM81.62 billion from the same period a year ago, but total trade slipped 1.4 per cent to RM1.06 trillion.

Many Malaysians have shared their big expectations and aspirations for the budget, which will be tabled by Finance Minister Lim Guan Eng at the Dewan Rakyat today.

These include the desire to see the implementation of socio-economic initiatives that directly impact ongoing digital transformation under fourth industrial revolution.

People on the street are eager to know the initiatives being formulated to cope with the raising cost of living and better opportunities to be availed to enable them to enjoy a quality life.

Meanwhile, many economists have expressed hope that the budget will provide greater direction from the government of its vision and focus on sustainable growth.

They also called for a moderation in the fiscal consolidation by the government in view of the soft economic outlook.

Tax experts want a special attention be given to support growth of businesses and enhance the current tax administration.

They believe that the government should reduce personal income tax to increase disposable income so that the people will have more buying power to create spin-off effects to boost domestic consumption.

On the housing market, industry players have urged the government to consider market intervention to address the unprecedented issue of over-supply and over pricing of residential properties.

One thing for sure, the Pakatan Harapan government is listening to the people, while trying to keep its promise to restore Malaysia back to its fiscal health by 2022, despite having inherited a worrisome financial position.

The majority of analysts say Budget 2020 will reflect the government’s Shared Prosperity Vision 2030 that aims to restructure the economy and bridge disparities between the wealthy and the impoverished.

Budget 2020: IDEAS proposes gradual GLC stake divestment by government
KUALA LUMPUR (Sept 19): The Institute for Democracy and Economic Affairs (IDEAS) has today proposed a review of Malaysian government-linked companies (GLCs) to form the basis of a divestment strategy, under which the government targets a gradual disposal of its shareholdings in GLCs to 10% of these companies' total market capitalisation by 2030.
IDEAS research director Laurence Todd said this today in light of the government’s high shareholding in publicly-listed companies, at over 40% of total market capitalisation with majority stakes in over 70 entities.
“This high government presence creates concerns over competition and the lack of liquidity in Malaysia’s capital markets. We believe that the time has come to transition from this model,” Todd said today at IDEAS' public forum ahead of Malaysia's Budget 2020 announcement on Oct 11 this year.
Today, IDEAS' Budget 2020 proposals include a new living wage tax credit, under which employers are incentivised, but not required, to increase wages up to a new monthly living wage of RM2,500 per employee.
To ensure that employees can share in the wealth of the country, IDEAS said the government could use the establishment of an employee equity scheme (EES).
Under this scheme, employers will be incentivised to allocate shares to employees, who will be encouraged to hold on to these assets rather than sell them for easy cash.
“We propose both these policies to be introduced in the forthcoming budget and recommend they be paid for through rationalisation of existing investment incentives,” said Todd.
On a broader scale, IDEAS, in recognising the government's effort to reduce its budget deficit, said the government in the longer term, should introduce a capital gains tax at an initial rate of 5% with a tax-free allowance of RM50,000.
“The government should launch a consultation on the introduction of this new tax in Budget 2020,” he said.

Malaysia a step closer to going cashless, says Visa
KUALA LUMPUR (Sept 20): Digital payments are becoming the preferred payment method in Malaysia, with 70% of consumers preferring to visit merchant sites that accept digital payments compared to those that only accept cash, according to the Visa Consumer Payment Attitudes Study 2018.
In a statement today, Visa Inc said among the merchant categories that consumers expect higher usage of digital payments are large shopping malls (65%), supermarkets (60%) and bill payments (57%).
"Over half of the respondents expect their use of digital payments to increase over the next year," it said.
Visa said the respondents believe the digital payments are convenient, hassle free and accepted widely.
They also believe that going cashless offers better payment security and allow them to track their expenditure better, it said.
However, for small transactions, the respondents still prefer paying with cash.
Visa country manager for Malaysia Ng Kong Boon said the financial services corporation sees a similar trend based on its VisaNet data, where the total value of consumer spending on Visa and number of transactions have shown double-digit percentage increase year-on-year.
"There are, however, continued opportunities for growth as cash still accounts for more than 60% of consumer spending in Malaysia," he said.
Ng said Visa has been focusing its efforts on expanding merchant contactless acceptance in Malaysia, adding that the nation is now one of the fastest growing countries in Asia Pacific in terms of contactless payment usage.
"To date, we have enabled contactless payments acceptance in major merchant categories such as petrol stations, supermarkets, quick service restaurants and laundromats.
"We are confident that our goal of becoming a cashless nation is moving a step closer because merchants and consumers appreciate the frictionless payments experience brought about by digital payments," he said.

Malaysia a step closer to going cashless, says Visa
KUALA LUMPUR (Sept 20): Digital payments are becoming the preferred payment method in Malaysia, with 70% of consumers preferring to visit merchant sites that accept digital payments compared to those that only accept cash, according to the Visa Consumer Payment Attitudes Study 2018.
In a statement today, Visa Inc said among the merchant categories that consumers expect higher usage of digital payments are large shopping malls (65%), supermarkets (60%) and bill payments (57%).
"Over half of the respondents expect their use of digital payments to increase over the next year," it said.
Visa said the respondents believe the digital payments are convenient, hassle free and accepted widely.
They also believe that going cashless offers better payment security and allow them to track their expenditure better, it said.
However, for small transactions, the respondents still prefer paying with cash.
Visa country manager for Malaysia Ng Kong Boon said the financial services corporation sees a similar trend based on its VisaNet data, where the total value of consumer spending on Visa and number of transactions have shown double-digit percentage increase year-on-year.
"There are, however, continued opportunities for growth as cash still accounts for more than 60% of consumer spending in Malaysia," he said.
Ng said Visa has been focusing its efforts on expanding merchant contactless acceptance in Malaysia, adding that the nation is now one of the fastest growing countries in Asia Pacific in terms of contactless payment usage.
"To date, we have enabled contactless payments acceptance in major merchant categories such as petrol stations, supermarkets, quick service restaurants and laundromats.
"We are confident that our goal of becoming a cashless nation is moving a step closer because merchants and consumers appreciate the frictionless payments experience brought about by digital payments," he said.

Malaysia a step closer to going cashless, says Visa
KUALA LUMPUR (Sept 20): Digital payments are becoming the preferred payment method in Malaysia, with 70% of consumers preferring to visit merchant sites that accept digital payments compared to those that only accept cash, according to the Visa Consumer Payment Attitudes Study 2018.
In a statement today, Visa Inc said among the merchant categories that consumers expect higher usage of digital payments are large shopping malls (65%), supermarkets (60%) and bill payments (57%).
"Over half of the respondents expect their use of digital payments to increase over the next year," it said.
Visa said the respondents believe the digital payments are convenient, hassle free and accepted widely.
They also believe that going cashless offers better payment security and allow them to track their expenditure better, it said.
However, for small transactions, the respondents still prefer paying with cash.
Visa country manager for Malaysia Ng Kong Boon said the financial services corporation sees a similar trend based on its VisaNet data, where the total value of consumer spending on Visa and number of transactions have shown double-digit percentage increase year-on-year.
"There are, however, continued opportunities for growth as cash still accounts for more than 60% of consumer spending in Malaysia," he said.
Ng said Visa has been focusing its efforts on expanding merchant contactless acceptance in Malaysia, adding that the nation is now one of the fastest growing countries in Asia Pacific in terms of contactless payment usage.
"To date, we have enabled contactless payments acceptance in major merchant categories such as petrol stations, supermarkets, quick service restaurants and laundromats.
"We are confident that our goal of becoming a cashless nation is moving a step closer because merchants and consumers appreciate the frictionless payments experience brought about by digital payments," he said.

Malaysia a step closer to going cashless, says Visa
KUALA LUMPUR (Sept 20): Digital payments are becoming the preferred payment method in Malaysia, with 70% of consumers preferring to visit merchant sites that accept digital payments compared to those that only accept cash, according to the Visa Consumer Payment Attitudes Study 2018.
In a statement today, Visa Inc said among the merchant categories that consumers expect higher usage of digital payments are large shopping malls (65%), supermarkets (60%) and bill payments (57%).
"Over half of the respondents expect their use of digital payments to increase over the next year," it said.
Visa said the respondents believe the digital payments are convenient, hassle free and accepted widely.
They also believe that going cashless offers better payment security and allow them to track their expenditure better, it said.
However, for small transactions, the respondents still prefer paying with cash.
Visa country manager for Malaysia Ng Kong Boon said the financial services corporation sees a similar trend based on its VisaNet data, where the total value of consumer spending on Visa and number of transactions have shown double-digit percentage increase year-on-year.
"There are, however, continued opportunities for growth as cash still accounts for more than 60% of consumer spending in Malaysia," he said.
Ng said Visa has been focusing its efforts on expanding merchant contactless acceptance in Malaysia, adding that the nation is now one of the fastest growing countries in Asia Pacific in terms of contactless payment usage.
"To date, we have enabled contactless payments acceptance in major merchant categories such as petrol stations, supermarkets, quick service restaurants and laundromats.
"We are confident that our goal of becoming a cashless nation is moving a step closer because merchants and consumers appreciate the frictionless payments experience brought about by digital payments," he said.

Malaysia a step closer to going cashless, says Visa
KUALA LUMPUR (Sept 20): Digital payments are becoming the preferred payment method in Malaysia, with 70% of consumers preferring to visit merchant sites that accept digital payments compared to those that only accept cash, according to the Visa Consumer Payment Attitudes Study 2018.
In a statement today, Visa Inc said among the merchant categories that consumers expect higher usage of digital payments are large shopping malls (65%), supermarkets (60%) and bill payments (57%).
"Over half of the respondents expect their use of digital payments to increase over the next year," it said.
Visa said the respondents believe the digital payments are convenient, hassle free and accepted widely.
They also believe that going cashless offers better payment security and allow them to track their expenditure better, it said.
However, for small transactions, the respondents still prefer paying with cash.
Visa country manager for Malaysia Ng Kong Boon said the financial services corporation sees a similar trend based on its VisaNet data, where the total value of consumer spending on Visa and number of transactions have shown double-digit percentage increase year-on-year.
"There are, however, continued opportunities for growth as cash still accounts for more than 60% of consumer spending in Malaysia," he said.
Ng said Visa has been focusing its efforts on expanding merchant contactless acceptance in Malaysia, adding that the nation is now one of the fastest growing countries in Asia Pacific in terms of contactless payment usage.
"To date, we have enabled contactless payments acceptance in major merchant categories such as petrol stations, supermarkets, quick service restaurants and laundromats.
"We are confident that our goal of becoming a cashless nation is moving a step closer because merchants and consumers appreciate the frictionless payments experience brought about by digital payments," he said.

Malaysia a step closer to going cashless, says Visa
KUALA LUMPUR (Sept 20): Digital payments are becoming the preferred payment method in Malaysia, with 70% of consumers preferring to visit merchant sites that accept digital payments compared to those that only accept cash, according to the Visa Consumer Payment Attitudes Study 2018.
In a statement today, Visa Inc said among the merchant categories that consumers expect higher usage of digital payments are large shopping malls (65%), supermarkets (60%) and bill payments (57%).
"Over half of the respondents expect their use of digital payments to increase over the next year," it said.
Visa said the respondents believe the digital payments are convenient, hassle free and accepted widely.
They also believe that going cashless offers better payment security and allow them to track their expenditure better, it said.
However, for small transactions, the respondents still prefer paying with cash.
Visa country manager for Malaysia Ng Kong Boon said the financial services corporation sees a similar trend based on its VisaNet data, where the total value of consumer spending on Visa and number of transactions have shown double-digit percentage increase year-on-year.
"There are, however, continued opportunities for growth as cash still accounts for more than 60% of consumer spending in Malaysia," he said.
Ng said Visa has been focusing its efforts on expanding merchant contactless acceptance in Malaysia, adding that the nation is now one of the fastest growing countries in Asia Pacific in terms of contactless payment usage.
"To date, we have enabled contactless payments acceptance in major merchant categories such as petrol stations, supermarkets, quick service restaurants and laundromats.
"We are confident that our goal of becoming a cashless nation is moving a step closer because merchants and consumers appreciate the frictionless payments experience brought about by digital payments," he said.

Budget 2020: IDEAS proposes gradual GLC stake divestment by government
KUALA LUMPUR (Sept 19): The Institute for Democracy and Economic Affairs (IDEAS) has today proposed a review of Malaysian government-linked companies (GLCs) to form the basis of a divestment strategy, under which the government targets a gradual disposal of its shareholdings in GLCs to 10% of these companies' total market capitalisation by 2030.
IDEAS research director Laurence Todd said this today in light of the government’s high shareholding in publicly-listed companies, at over 40% of total market capitalisation with majority stakes in over 70 entities.
“This high government presence creates concerns over competition and the lack of liquidity in Malaysia’s capital markets. We believe that the time has come to transition from this model,” Todd said today at IDEAS' public forum ahead of Malaysia's Budget 2020 announcement on Oct 11 this year.
Today, IDEAS' Budget 2020 proposals include a new living wage tax credit, under which employers are incentivised, but not required, to increase wages up to a new monthly living wage of RM2,500 per employee.
To ensure that employees can share in the wealth of the country, IDEAS said the government could use the establishment of an employee equity scheme (EES).
Under this scheme, employers will be incentivised to allocate shares to employees, who will be encouraged to hold on to these assets rather than sell them for easy cash.
“We propose both these policies to be introduced in the forthcoming budget and recommend they be paid for through rationalisation of existing investment incentives,” said Todd.
On a broader scale, IDEAS, in recognising the government's effort to reduce its budget deficit, said the government in the longer term, should introduce a capital gains tax at an initial rate of 5% with a tax-free allowance of RM50,000.
“The government should launch a consultation on the introduction of this new tax in Budget 2020,” he said.

Budget 2020: IDEAS proposes gradual GLC stake divestment by government
KUALA LUMPUR (Sept 19): The Institute for Democracy and Economic Affairs (IDEAS) has today proposed a review of Malaysian government-linked companies (GLCs) to form the basis of a divestment strategy, under which the government targets a gradual disposal of its shareholdings in GLCs to 10% of these companies' total market capitalisation by 2030.
IDEAS research director Laurence Todd said this today in light of the government’s high shareholding in publicly-listed companies, at over 40% of total market capitalisation with majority stakes in over 70 entities.
“This high government presence creates concerns over competition and the lack of liquidity in Malaysia’s capital markets. We believe that the time has come to transition from this model,” Todd said today at IDEAS' public forum ahead of Malaysia's Budget 2020 announcement on Oct 11 this year.
Today, IDEAS' Budget 2020 proposals include a new living wage tax credit, under which employers are incentivised, but not required, to increase wages up to a new monthly living wage of RM2,500 per employee.
To ensure that employees can share in the wealth of the country, IDEAS said the government could use the establishment of an employee equity scheme (EES).
Under this scheme, employers will be incentivised to allocate shares to employees, who will be encouraged to hold on to these assets rather than sell them for easy cash.
“We propose both these policies to be introduced in the forthcoming budget and recommend they be paid for through rationalisation of existing investment incentives,” said Todd.
On a broader scale, IDEAS, in recognising the government's effort to reduce its budget deficit, said the government in the longer term, should introduce a capital gains tax at an initial rate of 5% with a tax-free allowance of RM50,000.
“The government should launch a consultation on the introduction of this new tax in Budget 2020,” he said.

Budget 2020: IDEAS proposes gradual GLC stake divestment by government
KUALA LUMPUR (Sept 19): The Institute for Democracy and Economic Affairs (IDEAS) has today proposed a review of Malaysian government-linked companies (GLCs) to form the basis of a divestment strategy, under which the government targets a gradual disposal of its shareholdings in GLCs to 10% of these companies' total market capitalisation by 2030.
IDEAS research director Laurence Todd said this today in light of the government’s high shareholding in publicly-listed companies, at over 40% of total market capitalisation with majority stakes in over 70 entities.
“This high government presence creates concerns over competition and the lack of liquidity in Malaysia’s capital markets. We believe that the time has come to transition from this model,” Todd said today at IDEAS' public forum ahead of Malaysia's Budget 2020 announcement on Oct 11 this year.
Today, IDEAS' Budget 2020 proposals include a new living wage tax credit, under which employers are incentivised, but not required, to increase wages up to a new monthly living wage of RM2,500 per employee.
To ensure that employees can share in the wealth of the country, IDEAS said the government could use the establishment of an employee equity scheme (EES).
Under this scheme, employers will be incentivised to allocate shares to employees, who will be encouraged to hold on to these assets rather than sell them for easy cash.
“We propose both these policies to be introduced in the forthcoming budget and recommend they be paid for through rationalisation of existing investment incentives,” said Todd.
On a broader scale, IDEAS, in recognising the government's effort to reduce its budget deficit, said the government in the longer term, should introduce a capital gains tax at an initial rate of 5% with a tax-free allowance of RM50,000.
“The government should launch a consultation on the introduction of this new tax in Budget 2020,” he said.

Three million Chinese tourists in Malaysia to benefit from WeChat app
KUALA LUMPUR (Sept 19): Three million tourists from mainland China are expected to benefit from the WeChat Go Malaysia Mini Program, an interactive app, to search for any information and attraction in Malaysia from today.
Head of WeChat Global Marketing Ma Feng Ming said the programme served as a key platform to attract inbound visitors from mainland China through a partnership with Tourism Malaysia for the Visit Malaysia 2020 campaign.
“Via the interactive guide in Chinese, the Mini Program enables a digital travel experience on Malaysian attractionss, food, culture and shopping venues,” he said during the launch of the WeChat Go Malaysia Mini Program here, today.
He said it also enabled the travellers to pay using their home currency, the Renminbi, for services provided such as at Pos Malaysia, the Kuala Lumpur International Airprot (KLIA) Express, TripCarte and CatchThatBus.
“Visitors can select from a list of postcards and Pos Malaysia will print and deliver it to any address in mainland China. For the KLIA Express, tourists can book and pay for tickets ahead of the airport transfer train ride.
“Meanwhile, tourists can also book and pay for tickets to tourist attractions in Malaysia using TripCarte. CatchThatBus allows them to book and pay for bus tickets ahead of the ride,” Ma added.
Besides this programme, telco provider U Mobile, has partnered WeChat to launch the Pavilion KL Mini Program which begins on Oct 1.
Chief executive officer (retail) Pavilion KL, Datuk Joyce Yap said it is aimed at enhancing the dining and shopping experience for tourists.
“They can make reservations, order and pay for meals, at over 30 participating food and beverage merchants.
“At retail and fashion stores, they can order and pay for their choice of merchandise via the Mini Program and simply collect purchases when ready,” she said in her speech at the WeChat Go Malaysia Mini Program.
Last year, there were 2.9 million visitors from mainland China to Malaysia.
Currently there are 1.1 billion active WeChat users.