Major projects to build high-income nation
KUALA LUMPUR: Malaysia is geared for bigger growth – and a push towards becoming a high-income nation – with major public-private investment-driven infrastructure projects that are set to kick off next year.
Budget for Vision 2020
THE Budget was formulated to bring about significant changes to the country’s development and the rakyat’s well being, Prime Minister Datuk Seri Najib Tun Razak said.
Full loan for first-time house buyers
FIRST-TIME house buyers with a family income of less than RM3,000 per month need not pay the 10% down payment under the My First House Scheme (Skim Rumah Pertamaku).
IGP welcomes allocation of RM350mil
THE police will continue with their efforts to provide better service and reduce the crime rate in order to ensure a safer country.
RM5bil Warisan Merdeka will be country’s new landmark
THE Warisan Merdeka landmark, a RM5bil project located within the enclave of Merdeka Stadium and Stadium Negara, will change the city skyline.
Putting public transport on the right track
THE Mass Rapid Transit (MRT) project, which will start in Klang Valley next year, will enhance the utilisation rate of public transport by at least 40% upon its completion in 2020.
Promoting country as Asia’s premier shopping hub
IMPORT duty on approximately 300 items will be abolished to promote Malaysia as Asia’s shopping haven.
No toll hike on PLUS highways for five years
HIGHWAY users were given good news to last five years – that’s how long toll rates on four stretches of the PLUS Expressway will not be increased.
Musa expects Sabah to see rapid growth
KOTA KINABALU: Sabah’s key sectors such as agriculture, aqua-culture and tourism will see rapid growth in the coming years, thanks to specific financial allocations in the 2011 Budget.
Eswaran: It’s a caring budget that considers all views
Budget 2011 is a caring Budget with four key strategies to spur development, said Malaysian Associated Indian Cham ber of Commerce and Industry (MAICCI) president Datuk K. K. Eswaran.
Permata scheme gets RM111mil
THE Permata Negara programme for gifted young children has received a RM111mil boost under the Budget.
Female civil servants can take up to 90 days maternity leave
FEMALE civil servants will be allowed maternity leave up to 90 days from the current 60 days subject to consensus between the management and the employee.
Wage council to be set up
A NATIONAL Wage Consultation Council will be set up to determine the rate and mechanisms involved in setting a minimum wage for workers.
Duty exemption on hybrid cars extended to next year
THE import duty and excise duty exemption for buyers of hybrid cars has been extended to December next year.
Khaled: Key focus is on human capital
A KEY focus of Budget 2011 is to build quality human capital and increase the value of research and development (R&D), Higher Edu cation Minister Datuk Seri Mohamed Khaled Nordin said.
Education Ministry getting RM3bil more
THE Education Ministry will receive an allocation of RM29.3bil, a 14.9% increase or RM3bil from last year.
Chua: A Budget designed to sustain economic growth
MCA president Datuk Seri Dr Chua Soi Lek has described the Budget as a good one that will sustain economic growth for many years to come.
Medical groups laud initiative to build health centre
THE Government will build the Academic Medical Centre as part of its Public-Private Partnership (PPP) initiative.
Many lament rise in service tax
MIDDLE-income earners are lamenting that the increase in service tax from 5% to 6% is going to ad-versely affect them and leave a big hole in their pockets.
Civil servants rewarded
THE Government has offered goodies to the 1.2 million civil servants in appreciation of their contributions and full commitment in ensuring the success of the Government Transformation Plan.
Increase in allowance to spur orang asli chiefs
THE increase in the monthly allowance for orang asli chiefs from RM450 to RM800 will motivate them to work harder in tending to the needs of the community.
Training to take off in January
A NEW 1Malaysia training programme will start in January with an allocation of RM500mil.
Good for some, not so good for others
SECURITY guard Radin Borhan Radin Baser is extremely happy with Budget 2011 as it increased the guard’s salary to between RM500 and RM700.
RM850mil thrust for economic corridors
THE Government has allocated RM850mil to accelerate the development of economic corridors, mostly in infrastructure.
Taib happy with allocation for Sarawak
SARAWAK Chief Minister Tan Sri Abdul Taib Mahmud has expressed satisfaction with the allocation for Sarawak under the Budget, saying it will produce good returns on investments.
MTUC: Govt should control PPF
THE much talked about Private Pension Fund (PPF), targeted at those outside the current pension scheme and the self-employed, should not be left in the hands of profit-driven companies.
More affordable mobile phones for all
PETALING JAYA: The removal of the 10% sales tax on ordinary mobile phones should make the phones more affordable especially to first-time buyers, but don’t expect a huge drop, experts say.
EPF can get better returns with new ruling on overseas investment
PETALING JAYA: The move to allow the EPF to increase its overseas investment will allow diversification for better returns but some measures should be put in place before this can be achieved, according to fund managers and financial industry observers.
Big projects to power economy
KUALA LUMPUR: Private investment through construction activity got a serious boost from Budget 2011 after a slew of costly projects headlined by the RM40bil mass rapid transit project were announced as the building blocks towards reinventing the economy got under way.
Implementing the Feed-in-Tariff mechanism
KUALA LUMPUR: Although details are yet to be available, analysts speculate consumers may pay more for their electricity bills with the implementation of the feed-in-tariff mechanism under the Renewable Energy Act.
Revitalising the palm oil sector
KUALA LUMPUR: As an initiative to revitalise the palm oil and related industries, RM297mil will be set up for the enhancement of productivity by encouraging replanting activity to replace aged trees with high quality new clones under the Budget 2011.
Multi-billion projects in the pipeline
PETALING JAYA: The Government has earmarked several multi-billion projects that will see the construction of several highways, a mass rapid transit (MRT) system, and the Kuala Lumpur International Financial District (KLIFD) amongst others, to be kicked off next year.
Higher sales of hybrid cars expected
PETALING JAYA: Sales of hybrid cars are expected to increase following a drop in prices after the Government granted full excise duty exemptions on such vehicles.
Service tax ‘not positive move’
PETALING JAYA: The Government proposes that the service tax be increased from 5% to 6% and that it be imposed on paid television broadcasting services.
Allocation for high value-added industries will boost foreign investment
GEORGE TOWN: The allocation of RM857mil to local companies to invest in high value-added industries will help increase the influx of foreign direct investment as the fund will enable local vendors supporting multinational corporations (MNCs) in the country to further strengthen.
Tax consultants: Good for Govt, not for consumers
PETALING JAYA: Tax consultants concur that the increase in service tax to 6% will result in higher revenue for the Government but negatively impact businesses and consumers.
Mixed views on measures for capital market
KUALA LUMPUR: Analysts are neutral on the moves to boost capital markets, as they feel that the issue of velocity, which is key in making the market vibrant, is still not fully addressed.
Tax relief for pension fund won’t hurt unit trust
PETALING JAYA: The plan to extend tax relief for contributions to the proposed Private Pension Fund (PPF) which will be set up next year will not impact investment in unit trusts, fund managers said.
First home scheme to attract young buyers
PETALING JAYA: To promote home ownership among Malaysians, the Government has proposed to introduce First Home Scheme whereby Cagamas Bhd will provide a guarantee on the 10% down-payment for houses priced below RM220,000.
RM1bil for bumiputra property trust scheme
PETALING JAYA: A syariah-compliant Bumiputra Property Trust Scheme will be launched this year with a size of RM1bil.
Johor happy with allocation
JOHOR BARU: Johor thanks the Federal Government for its unwavering support to further develop Iskandar Malaysia in Budget 2011.
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