Corporate responses to Budget 2018

Labuan IBFC Inc

Labuan IBFC Inc Sdn Bhd welcomes the government proposal to undertake a feasibility study for the development of the Labuan-Sabah Bridge.

“Labuan IBFC Inc Sdn Bhd very much welcomes the announcement contained in the Malaysian Federal Budget 2018 of a feasibility study to be conducted towards the development of the long awaited bridge linking Labuan Island to the mainland of Sabah, Malaysia.

“Without a doubt the development of this bridge, will not only spur the socioeconomic development of Labuan, it will further develop Labuan International Business and Financial Centre, by creating better connectivity with the greater Asian region,” IBFC said in a statement.

IBFC expects the bridge would facilitate further development on the island.

Datuk Seri Stanley Thai, Group MD, Supermax Corporation Bhd

1) Automation & Industry 4.0 in manufacturing 
Government’s continuing support through incentive programs on the Automation & Industry 4.0 augurs well for the continued growth of the Glove Industry. This will maintain global competitiveness for gloves Made in Malaysia. 

2) Market Development Grant on the development of high value-added products for the Export Market will certainly help the Contact Lens business that Supermax Group is embarking & developing for global market.

3) Incentives & grants to support the Rubber industry small-holders would certainly help to increase the Local Supply of Natural Rubber Latex Concentrate material for the Glove Industry. Currently, more than 90% of NR latex material supply are coming from Southern Thailand. 

4) Special Economic Zone in Kayu-Hitam bordering Thailand will help to retain manufacturing sector for export to remain in Malaysia instead of leaving for neighbouring countries.

Bina Darulaman Berhad (BDB) Group MD Datuk Izham Yusof

He said the company applauded the government’s RM2.2 billion allocation to boost the housing sector, particularly homeownership.

“We welcome the government’s efforts to extend the conditional step-up financing scheme introduced by PR1MA to developers in the private sector. This scheme aids selected buyers, particularly those struggling to draw loans for their first home to obtain financing,” he said.

He said the MyHomes programme, the RM200 million for maintenance funds, stamp duty exemptions for house buyers and tax exemptions on house rentals below RM2,000 are positives for the sector.

Executive Director, AJ Pharma Holding, Selvam Ramaraj

Budget 2018’s core thrusts of accelerating investments, trade and industries while prioritising the rakyat’swellbeing are significant steps in placing Malaysia as a player to be reckoned with in the global private healthcare market while boosting the efficiency of our local public healthcare services for its citizens.

Investments to spur the medical tourism industry that also incentivise industry players to obtain quality accreditation and certification from authorised bodies will cement the credibility of our healthcare service providers, and establish medical tourism as a significant revenue contributor for the nation. 

Furthermore, the government’s allocation of RM27 billion towards quality public healthcare services will spur the nation’s progress towards a better, more efficient and equitable universal healthcare system. The comprehensive focus on enhancing medical supplies, upgrading medical facilities and infrastructure across the country,investing in the latest medical equipment, boosting healthcare service delivery and creating a medical aid fund for underserved communities are positive steps in revitalising our public healthcare sector. Beyond medical interventions, we laud the government’s allocation of RM30 million for the Healthy Community Nation Empowerment fund.

We strongly believe that these provisions will foster an ecosystem that empowers communities, improves quality of life and enhances life expectancy of every citizen regardless of location, age, gender, ethnicity or socio-economic standing.

Research Vice President at Gartner, Tervinderjit Singh

Malaysia, like the rest of the world, is on the brink of the fourth industrial revolution and digitaleconomy era. With the announcements made in the MalaysiaBudget 2018, we see an increased emphasis on preparing the nation to become a fully-developed digital economy through targeted initiatives such as theMalaysian Digital Policy.

The upgrading of smart manufacturing facilities and FuturiseCenter in Cyberjaya reflect the government’s sustained commitment to invest and support the industry as it continues progressingto the next level.

The RM83.5 million allocation to further develop the first ‘Digital Free Trade Zone’, which is expected to attract RM 700 million in investments and creating 2,500 jobs also puts the nation in good stead.These investments will go into strengthening the nation’s infrastructure and raising import values to push Malaysia into becoming the region’sprimary e-commerce hub.

Gartner is forecasting a 6% growth in technology spending for 2018, putting Malaysia ahead of most Asia Pacific countries.With the initiatives announced in Budget 2018, Gartner is confident that Malaysia is on the right track towards become a fully digitisednation.