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Datuk Sulaiman Mohd TahirDatuk Sulaiman Mohd Tahir

AMMB Holdings Bhd

Group chief executive officer

Datuk Sulaiman Mohd Tahir

FOCUSED on addressing the need for economic revitalisation, Budget 2022 is expansionary and agile.

We are pleased to note that the budget has b

Captains of industry share their views

Datuk Sulaiman Mohd TahirDatuk Sulaiman Mohd Tahir

AMMB Holdings Bhd

Group chief executive officer

Datuk Sulaiman Mohd Tahir

FOCUSED on addressing the need for economic revitalisation, Budget 2022 is expansionary and agile.

We are pleased to note that the budget has been crafted in support of the rakyat and businesses, importantly with focus on the development of new shoots of growth, improving resilience as well as ensuring sustainable growth amid what is still a very challenging and volatile economic environment.

The Syarikat Jaminan Pembiayaan Perniagaan (SJPP) Scheme has aided thousands of Malaysian small and medium enterprises (SMEs). AmBank is pleased to be part of the government’s continued support for SMEs who are the backbone of the Malaysian economy through the additional RM10bil guarantee that will certainly catalyse domestic growth.

We are confident the SMEs will be able to capitalise on this assistance and contribute to the economy.

As a SME-focused bank, we are conscious of the imperative need for SMEs to accelerate adoption of digitalisation. To this end, the government’s allocation of RM45mil for the transformation towards Industry4WRD is timely and necessary.

The budget’s emphasis on environmental, social and governance (ESG) and in particular the clarion call for all Bursa Malaysia-listed companies to appoint at least one woman to their board of directors is most certainly progressive and laudable.

Datuk Khairussaleh RamliDatuk Khairussaleh Ramli

RHB Banking Group

Group managing director and chief executive officer

Datuk Khairussaleh Ramli

THERE continues to be much focus on accelerating the economy with higher allocations for small scale projects, as well as supporting the growth of the SMEs.

The focus on consumer discretionary spending, coupled with the higher allocation for development as well as capital expenditure by the non-financial public corporations would be positive for infrastructure-related segment of the economy. This would result in large multiplier effects on economic activity.

As a financial services group, RHB will play its part to support economic recovery and development, in particular the growth of SMEs.

We also applaud the drive towards sustainable practices through increased diversity in the workplace and empowering women in building a more robust economy post-Covid-19, as well as the country’s aspiration towards becoming carbon neutral by 2050.

Tan Sri Teh Hong PiowTan Sri Teh Hong Piow

Public Bank Bhd

Founder, chairman emeritus, director and adviser

Tan Sri Teh Hong Piow

WITH a renewed path mapped out and the country’s investment prospects reinvigorated, underpinned by Budget 2022, the Public Bank Group will continue to play its role in actively facilitating growth, while also continuing to engage with customers and providing assistance when and where necessary to aid in the rehabilitation and rebuilding of our national resilience.

To this end, the government’s ongoing initiatives in providing support by way of subsidies, grants and various other measures of assistance totalling RM31bil is lauded.

We applaud Budget 2022, which appropriately balances the mix between reducing income inequality, expanding on targeted assistance to households and businesses while also investing into the nation’s healthcare and basic infrastructures.

Just as importantly, Budget 2022 also focuses on the future, with spending allocated toward enhancing digital and technological infrastructures while facilitating the transition of industrial sectors toward greater automation.

Datuk Abdul Farid AliasDatuk Abdul Farid Alias

Malayan Banking Bhd

Group president and chief executive officer

Datuk Abdul Farid Alias

BUDGET 2022 maintains an expansionary fiscal policy to support and sustain the socioeconomic healing from the pandemic as we adopt and adapt to living with Covid-19.

It is important for this budget to create opportunities for individuals and businesses to transition into a recovering economy ripe for growth and focused on productivity measures.

The enhancements to cash aids, welfare payments and the social security system help to ensure the well-being of lower income households, vulnerable segments of the society, self-employed and informal sector workers who have been disproportionately affected by the pandemic.

These are complemented with measures to improve the labour market conditions and reduce unemployment rate such as the extension and expansion of hiring incentives, job creation initiatives as well as skills and industrial training programmes.

Tan Sri Leong Hoy KumTan Sri Leong Hoy Kum

Mah Sing Group Bhd

Founder and group managing director

Tan Sri Leong Hoy Kum

WE foresee that the property market will benefit from the newly announced measures such as the allocation of RM2bil guarantee through the Housing Credit Guarantee Scheme to facilitate loans for those without proof of steady income as well as the real property gains tax (RPGT) waiver for property disposed from the sixth year and above. This would be a timely catalyst in expediting the recovery of the property industry in line with the general consensus of expecting 2022 to be a better year for Malaysia.

We welcome the government’s measure in extending the reduction of minimum employee contribution rate for the Employees Provident Fund from 11% to 9% until June 2022.

This will increase the cash in hand for the rakyat, easing their monthly financial burden due to the effect of the pandemic. This allows the rakyat to have more cashflow to spend on daily necessities during this trying time.

Datuk Choong Kai WaiDatuk Choong Kai Wai

S P Setia Bhd

President and chief executive officer

Datuk Choong Kai Wai

WE appreciate the government’s initiative to provide a guarantee of up to RM2bil to banks under the Housing Credit Guarantee Scheme to help those who can repay the mortgage loan but have no proof of fixed income to get approval for said loans.

This will help those who are in this predicament to purchase their own homes.

Although six years holding is relatively long, we hope the removal of the RPGT for property sales after the sixth year will help to spur the sub-sale market by increasing property transactions and will indirectly help invigorate the supply chain and rejuvenate the property industry.

The RM1.5bil allocated to the continuation of current housing programmes for low-income earners is welcome, as it would continue to help eligible low-income earners own their dream homes.

We had hoped that the government would consider reducing individual income tax rates, especially for those who are affected by the movement control order, which was not tabled.

However, we are heartened to see one-off exemptions provided to help those in need.

Datuk Abdul Rahman AhmadDatuk Abdul Rahman Ahmad

CIMB Group Holdings Bhd

Group chief executive officer

Datuk Abdul Rahman Ahmad

IT is optimal that the government continues to emphasise policies that are aligned to the UN Sustainable Development Goals.

Through Budget 2022, the government has reiterated its goal to achieve carbon neutrality by 2050 and doubled down on its commitment towards driving the environmental, social and governance (ESG) agenda, through investments that will stimulate economic activities and growth whilst minimising harm to the environment and our communities.

This commitment includes ensuring alignment with green budgeting to ensure development projects and programmes that support climate resilience, and the provision of financing to support the low carbon transition. Additionally, we welcome the Government’s plans for sustainability sukuk issuance amounting up to RM10bil in the year ahead to be channelled to qualified social and climate-friendly projects.

As a financial intermediary, CIMB plays a critical role in channelling financing and capital in ways that will support the transition towards a net-zero economy and greater social equity, and we will continue to play our part in supporting the national recovery agenda as outlined in Budget 2022.

Through collaboration with all stakeholders across the private and public sectors and civil society, we are confident that together, we will be able to create a productive and resilient economy that will truly benefit the rakyat.

Abrar A. AnwarAbrar A. Anwar

Standard Chartered Malaysia

Managing director and chief executive officer

Abrar A. Anwar

AS the first financial institution in Malaysia to be globally certified for workplace gender equality, Standard Chartered is heartened by the women empowerment agenda in the budget – from subsidies specific to women health and the RM2bil JaminKerja wage incentives to help women returning to work, to a compulsory one-woman minimum requirement in the board composition for public listed companies.

We are proud to align ourselves to Malaysia’s commitment to be a carbon-neutral nation by 2050, as we commit to reaching net-zero carbon emissions from our operations by 2030 and from our financing by 2050.

The Voluntary Carbon Market initiative cannot come at a more critical time as the planet faces one of its biggest challenges: climate change.

Nik Amlizan MohamedNik Amlizan Mohamed

Kumpulan Wang Persaraan (Diperbadankan) (KWAP)

chief executive officer

Nik Amlizan Mohamed

WE are indeed heartened by the government’s Budget 2022. As a nation, we must rise against the tide and support Keluarga Malaysia. It is clear that due to the impact of the pandemic, we have to implement meaningful solutions to support economic recovery.

KWAP is encouraged by the government’s efforts to prioritise the rakyat through the continuation of policies that support people and businesses, including financial assistance and fiscal relief measures.

These policy measures are necessary for Malaysia to remain resilient over the long term, especially keeping in mind the needs of our pensioners.

With the measures introduced by the budget, government-linked companies are expected to further build resilience through various grants and funds to drive economic transformation and catalyse the growth of new high-value sectors.

Datuk Seri Amir Hamzah AzizanDatuk Seri Amir Hamzah Azizan

Employees Provident Fund (EPF)

Chief executive officer

Datuk Seri Amir Hamzah Azizan

THE move to extend the statutory contribution rate at 9% until mid-2022 should come as a relief as it helps to increase employee’s take-home salary and ease financial hardship.

“We are also grateful that the government has agreed to extend the age for i-Saraan members as this can encourage more self-employed and informal sector workers to save for their retirement with the EPF.

More so, self-employed and gig workers are also offered tax relief of up to RM4,000 when they contribute to the EPF via voluntary contributions. This is in line with our focus to get this group into the EPF scheme for their future retirement security.

Meanwhile, the Caruman Sukarela Insentif Suri, or i-Suri, which enables housewives and widows to save with the EPF, will be integrated with the Social Security Organisation and renamed “Kasih Suri Keluarga Malaysia”.

The initiative provides the opportunity for housewives and widows registered under the eKasih system to gain access to social security.

Sheyantha AbeykoonSheyantha Abeykoon

Boost Holdings Sdn Bhd

Chief executive officer

Sheyantha Abeykoon

BOOST welcomes the government’s commitment to revive the micro, small and medium enterprises (MSME) business community. The RM40bil allocated for the Semarak Niaga Keluarga Malaysia programme, with a focus on increasing financing access to the MSMEs, will go a long way to shore up resources for long-term and sustainable recovery.

Serving the underserved and unserved is in Boost’s DNA that puts us very much aligned to the government’s direction and we will continue to complement the MSME initiatives proposed in Budget 2022.

With our digital payment, merchant solutions and digital alternative financing businesses, we are focused on ensuring local small businesses have access to powerful, yet simple to use, digital tools as well as low-cost business capital.

The government also continues to draw up digitalisation plans for MSMEs with the enhancement of the SME Digitalisation Grant and extension of the Go-eCommerce Onboarding and Shop Malayisa Online campaigns into next year.

Datuk Amirul Feisal Wan ZahirDatuk Amirul Feisal Wan Zahir

Khazanah Nasional Bhd

Managing director

Datuk Amirul Feisal Wan Zahir

IN line with the 12th Malaysia Plan, Budget 2022 is a comprehensive approach in driving a strong and sustainable recovery for the economy while providing broad socioeconomic inclusivity and social protection.

This can be seen via its priority placed on healthcare and education infrastructure on the one hand, and on investments in digital infrastructure and digital connectivity on the other.

This approach will help to ensure that the entire Keluarga Malaysia, from individual citizens to business entities, emerge stronger together.

Khazanah and our investee companies look forward to playing our part in delivering the initiatives in Budget 2022 such as Jalinan GLC to strengthen micro, small and medium enterprises, the Malaysia Short-Term Employment Programme and PerantiSiswa Keluarga Malaysia. Khazanah also remains committed to realising the goals of

Perkukuh Pelaburan Rakyat and to drive catalytic investments through the RM6bil Dana Impak fund.

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