ARTICLE

Insight

Empowering Bumiputera

RM11.4 billion for Bumiputera development programmes:

  • RM6.6 billion is allocated for educational purposes to MARA, UiTM and Yayasan Peneraju
  • RM4.8 billion is allocated for capacity building program and business financing under PUNB, TEKUN Nasional and Dana Kemakmuran Bumiputera

 

RM200 million is allocated for Bumiputera Youth involvement in small scale Government projects.

 

RM10 million allocation for capacity building and on-the-job training through CIDB dedicated accelerator programme for G1 to G4 youth contractors.

 

RM2.1 billion to support equity and quasi-equity investment schemes:

  • RM600 million for all businesses including Bumiputera entrepreneurs through SME Bank, TERAJU and BSN.
  • RM500 million by BPMB for its Rehabilitation and Support through Equity scheme (RESET).
  • RM1 billion by BNM for its Recapitalisation Fund.
     

RM2 billion dedicated to Bumiputera businesses to provide guarantees for rescheduled and restructured loans.

 

RM100 million allocated as matching grant for Bumiputera SMEs 100 million – matching grant for SME Bumiputera Business in aerospace industry.

 

40% of local procurement should be awarded to Bumiputera entrepreneurs.

 

RM50 million dedicated to Bumiputera microentrepreneurs in rural areas for digital adoption.

 

Double tax deduction increased to RM500,000 for qualifying operating expenses, an incentive to develop local Bumiputera vendors.

 

This tax incentive will be extended for a period of 5 years up to 31 December 2025.
 

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Author(s)

Ahmad Izwan Adnan
Partner,

Advisory and Corporate Finance


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