EDITION
  • English
  • 中文
  • Bahasa
  • eCommerce
Tuesday, October 3, 2023
uLearnMoney Subscription Events
No Result
View All Result
Money Compass

EDITIONS:

Media and partner organizations:

cmc bmc ulearnmoney mylife mcm asncommerce mcm
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
Subscription Newsletter
Money Compass
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
No Result
View All Result
中文 Bahasa eCommerce
Money Compass

Government receives allocation requests for RM900 billion under 12MP

by moneycompass
April 7, 2021
in Local Market News
net outflow - Covid-19, government
Share on FacebookShare on WhatsApp

KUALA LUMPUR – The government has received allocation requests for a total of RM900 billion under the 12Malaysia Plan (12MP) from federal and states government and agencies, said Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed, reported Bernama.

He said this year alone, RM69 billion had already been allocated, with most of the fund channelled to the healthcare sector, including for the COVID-19 vaccination programme.

“Considering these requests (coming) from every direction, we have to study (them) carefully because priority needs to be given to the healthcare sector,” he told a press conference after attending a briefing on the Development Malaysia and Helping The World: Jeffrey Sachs Center on Sustainable Development (JSC) on April 5.

JSC is a partnership between the Jeffrey Cheah Foundation (JCF) and the UN Sustainable Development Solutions Network (SDSN).

Asked about the challenges of foreign direct investments (FDIs), Mustapa said the Malaysian public has to be fair and balance in making any assessment in any sectors, including the economy.

“Fair means get the number right. While we, as the government, admit that there are challenges, but there is also upside and we’re doing well in some areas.

“Measuring crudely by what is happening is Sunway Group, the footfall in the retail establishment, hotels, theme parks, universities, hospitals and so on. We believe we can achieve the target growth of 6.0-7.5% this year,” he said.

Touching on the issue, Sunway Group founder and chairman Tan Sri Dr Jeffrey Cheah said the group will soon be announcing a major investment from a foreign government.

“Until we announce it to the stock exchange (Bursa Malaysia), I can’t say anything more. But it is a big investment by a government sovereign fund from overseas,” he said.

Cheah said the overall situation for the group and local businesses is now looking much better compared to that of last year when COVID-19 started hitting the country.

“We have survived, with pent-up demand, more vaccines being rolled out and COVID-19 cases decreasing, I think the (consumers’) confidence will come back. We are seeing that every weekend, crowds in the malls are rising and is even better than the pre-pandemic times,” he said.

He said despite cross-border restrictions, Sunway’s education arm is also doing well, thanks to online learning.

“Our foreign student number has increased by 12% in the first quarter this year. We are confident things will come back once the borders are open,” he said.

 

Read more: Malaysia needs to reset, seize new growth opportunities – BNM Governor

Tags: Covid-19COVID-19 VaccineFDISunway Berhad
ShareSendShareSendTweetShare
Previous Post

Money Compass Financial News: 61% of Malaysians prefer to use digital channels to engage with their bank during financial hardship

Next Post

E-wallet among licensing requirements for market traders

Related Posts

Loh Guat Lan, President of LIAM
Local Market News

Life Insurers Offer Relief Measures to Assist Flood Victims

08 Mar 2023
Bursa Malaysia
Current News

Bursa Malaysia enhances Islamic securities

10 Feb 2023
Corporate News

JCorp Officially Launches JLand Group (JLG) to Capture Opportunities in New Economy Real Estate

18 Jan 2023

Discussion about this post

MOST POPULAR

  • 10 Ways to Curb Overspending

    10 Ways to Curb Overspending

    1 shares
    Share 0 Tweet 0
  • Northern Malaysia Leads the Way in Shopee Live Streams

    0 shares
    Share 0 Tweet 0
  • SWAG’s popular creator ladyyuan earns over US$70,000 in one month through her presence on the platform

    0 shares
    Share 0 Tweet 0
  • Malaysia’s First Hyatt Place Hotel Debuts in Kuala Lumpur

    0 shares
    Share 0 Tweet 0
  • McDonald’s steps up food safety and hygiene practices

    0 shares
    Share 0 Tweet 0

MEMBERSHIP SUBSCRIPTION

Subscribe Now

Sign Up for Our Free Newsletters

Stay up-to-date with the latest personal wealth-related articles, breaking financial market news, and more.

Follow us on Social Media

News
Special Feature
Compass
Money Tube
Smart Lifestyle
Corporate Profile
Advertise
Subscriptions
Career
Contact Us
eLearning
Events
Privacy Policy
Terms of Use
Strategic Partners

Copyright © . Money Compass. All Rights Reserved.

Design and Development by Ant Internet Sdn Bhd

No Result
View All Result
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE

© 2020 Money Compass

Career

SUBSCRIBE FREE NEWSLETTER