PRIME Minister Datuk Seri Najib Razak’s recent announcement of the government’s most recent u-turn on legalising sports betting raises questions, once again, about Umno’s dominance within the Barisan Nasional (BN). Najib announced the Finance Ministry’s withdrawal of approval for Ascot Sports’ sports betting licence directly after an Umno supreme council meeting on 25 June 2010. […]
Finance Ministry
Equity limit for investment, Islamic banks raised
PUTRAJAYA, 27 April 2009: Prime Minister Datuk Seri Najib Razak today announced a significant package of measures to liberalise the financial sector including raising the equity in investment and Islamic banks, and insurance and Takaful firms to 70%. Other measures include issuing nine new licenses to foreign participation in both conventional and Islamic banking. Najib, […]
M’sia liberalises 27 service sub-sectors
PUTRAJAYA, 22 April 2009: The government has liberalised with immediate effect 27 service sub-sectors with no 30% bumiputera equity condition imposed on health and social services, tourism, transport, business, computer and related services. Prime Minister Datuk Seri Najib Razak said today the government would be progressively liberalising the other service sub-sectors on an on-going basis. […]
Stimulus package site launched
PUTRAJAYA, 9 April 2009: The Finance Ministry today launched the economic stimulus package website which enables the public to get details and the latest information on the two stimulus packages announced recently. The website at www.rangsanganekonomi.treasury.gov.my provides a breakdown of the allocations by ministries, and further details for each state. “The website will detail the […]
Income tax of AP owners confidential
KUALA LUMPUR, 23 March 2009: Income tax paid by owners of approved permits (APs) for the import of luxury cars cannot be revealed to the public, the Dewan Rakyat was told today. Deputy Finance Minister Datuk Kong Cho Ha, when winding up debate on the Income Tax Bill (Amendment) 2009, said the confidentiality of this […]
No pay cuts for GLC chairpersons and CEOs
KUALA LUMPUR, 16 March 2009: The government does not propose to reduce the salaries and allowances of government-linked companies (GLCs)’s chief executive officers and chairpersons given the uncertain world economic situation. Deputy Finance Minister Datuk Kong Cho Ha said the GLCs’ chairpersons and CEOs were appointed based on their abilities and achievements in leadership to […]
Budget deficit to be revised upwards
KUALA LUMPUR, 29 Jan 2009: Malaysia will revise upwards its projected budget deficit for this year, following the introduction of the second stimulus package to be announced soon, said Deputy Prime Minister Datuk Seri Najib Razak. The quantum of increase in the fiscal deficit would depend on how much the government is going to pump-prime […]
