More incentives needed to build a sustainable nation - AIMS

KUALA LUMPUR, Oct 18 -- The government needs to look into providing incentives and exemptions for local players in the online and digital sectors to create a more competitive and conducive business environment.

AIMS Data Centre Sdn Bhd (AIMS) chief executive officer Chiew Kok Hin said while the 2020 Budget has indicated a promising outlook for advancing digital infrastructure and there is still room for Malaysia to grow into a more sustainable and prosperous digital nation.

He said the government is building the right foundation for a digital Malaysia following its recent announcement towards implementing the National Fiberisation and Connectivity Plan (NFCP) and promoting more digital application pilot projects utilising fibre optics and 5G infrastructure.

“The government is focusing on incentives for small and medium enterprises and other new digital applications like blockchain and similar technology that leverage Malaysia’s investments in fibre optics and 5G infrastructure, but it lacks incentives for one of the core infrastructures that supports the development of a digital Malaysia, namely data centre.

“Data centres are not just fundamental to the development of cloud and digital applications, they also serve as an important element in attracting foreign direct investments into the country to enable the creation of jobs and knowledge transfer,” he said in a statement.

Finance Minister Lim Guan Eng, when tabling the 2020 Budget last Friday, said the government will develop the infrastructure needed to form Digital Malaysia via the implementation of the NFCP over a five-year period.

He also announced an allocation of RM210 million to accelerate the deployment of digital infrastructure for public buildings, especially schools and high-impact areas as industrial parks.




Lim denies Sarawak neglected in Budget 2020

MIRI, Oct 27 -- Sarawak is among the states receiving the highest allocation under Budget 2020, said Finance Minister Lim Guan Eng.

Higher global growth forecast in tandem with Malaysia’s GDP projection

KUALA LUMPUR, Oct 18 -- The forecast improvement in global economic growth to 3.4 per cent next year from three per cent this year is in tandem with the country’s higher projected gross domestic product (GDP) expansion of 4.8 per cent from 4.7 per cent this year in the 2020 Budget, Finance Minister Lim Guan Eng said.

Cagamas concludes RM800 mln combined issuance prior to Budget 2020 announcement

KUALA LUMPUR, Oct 18 -- Cagamas Bhd today announced the issuance of its multi-tenured RM500 million Islamic Medium Term Notes (IMTN), multi-tenured RM100 million Conventional Medium Term Notes (CMTN) and RM200 million three-month Conventional Commercial Papers (CCP).




Selangor tables RM2.33 billion budget for 2020

SHAH ALAM, Nov 1 -- The Selangor government today tabled the 2020 Budget totalling RM2.33 billion based on five key strategies, said Menteri Besar Amirudin Shari.

Govt's focus in Budget 2020 is criticial in restoring trust, confidence in marketplace - ICDM

KUALA LUMPUR, Oct 12 -- The Government’s focus on strengthening institutions, governance and integrity is critical in restoring trust and confidence in the marketplace, Institute of Corp...

Budget 2020 addresses some pressing issues facing nation - KRI

KUALA LUMPUR, Oct 12 -- Khazanah Research Institute (KRI) says the 2020 Budget has addressed some pressing issues facing the nation, while driving growth and attaining long-term equi...



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