Category: Business

Finance Minister II Datuk Seri Amir Hamzah Azizan said that through strict and phased fiscal consolidation, the government managed to curb the increase in the amount of net loans while reducing debt growth. During the winding up of the Auditor General’s Report (LKAN) 3/2024 on the federal government’s Financial Statements in 2023 in Dewan Rakyat today, he explained that the amount of federal government loans in 2023 actually decreased to RM226.595 billion compared to RM230.949 billion in 2022. “The fiscal deficit has been consistently reduced. The amount of net loans is expected to continue to decrease, from RM99.4 billion in

PUTRAJAYA, AirAsia hopes the upcoming Budget 2025 will offer more initiatives to promote and advertise Malaysia. Capital A Bhd chief executive officer Tan Sri Tony Fernandes said the airline did not expect specific incentives for aviation but would like a bigger budget allocation for the Tourism, Arts and Culture Ministry. He said tourism was a big economic contributor and could work in sync with airlines to make Malaysia a more attractive destination. “My big goal is to work closer with Malaysia Airports, which need to be more efficient and cost competitive. We need them to help us with advertising. “I

KUALA LUMPUR, Astronautic Technology Sdn Bhd (ATSB), a company previously owned by the Minister of Finance (Incorporated), was not a profit-based company but was strategic for the development of satellites. Finance Minister II Datuk Seri Amir Hamzah Azizan said ATSB’s strategic objective had been achieved with the successful development and launch of the micro remote sensing satellite, TiungSAT-1, on Sept 26, 2000. He said ATSB had also developed a micro remote sensing satellite, RazakSAT, which was launched on July 14, 2009 to provide more specific and frequent data images. “Of the initial capital amount of RM112.58 million received from the

KUALA LUMPUR, Takaful industry players are urged to embrace the aspirations of the recently issued exposure draft on the broader application of Ta`awun in takaful to explore new models in promoting social cohesion and wealth distribution. Bank Negara Malaysia (BNM) assistant governor Suhaimi Ali said the central bank remains committed to providing an enabling environment for the industry to test and introduce innovations. ‘For areas that may require regulatory flexibility, we welcome interest in tapping into the financial technology regulatory sandbox. This allows innovation to be piloted and refined, thus accelerating the integration of the Value-based Intermediation for Takaful (VBIT)

KUALA LUMPUR, The government has recovered a total of RM27.17 billion related to 1Malaysia Development Bhd (1MDB) as of Sept 30, 2024. Minister of Youth and Sports Hannah Yeoh stated that the funds deposited into the Asset Recovery Trust Account (AAMKA) now amount to RM3.04 billion. ‘The government will continue its efforts to recover all funds related to 1MDB that have been misappropriated, with the primary goal of maximising returns to settle 1MDB’s debts within the stipulated timeframe,’ she said in the Dewan Rakyat today. Yeoh made this statement on behalf of Deputy Finance Minister II Datuk Seri Amir Hamzah

DUBAI, Malaysia is making a significant impact at the Expand North Star 2024 (ENS 2024) event in Dubai with a 120-square-foot pavilion featuring 15 local technology companies. Led by the Malaysia Digital Economy Corporation (MDEC), the companies showcasing their products and services include OmniNexus, Codon Genomics, ProximaX Malaysia, Wilstech, Vero AI, and others, highlighting Malaysia’sMalaysia’s advanced digital infrastructure and innovation capabilities. MDEC’s head of digital industry acceleration, Wan Murdani Wan Mohamad, said the Malaysia pavilion, launched on Sunday, includes a dedicated meeting space for business discussions with potential investors, facilitating opportunities that could bring substantial value to Malaysia. The Consul