#Budget2018: Government Allocates RM1.5 Billion Funding Under SJPP

Bernama Online

27 October 2017

#BUDGET2018: GOVERNMENT ALLOCATES RM1.5 BILLION FUNDING UNDER SJPP

KUALA LUMPUR, Oct 27 (Bernama) -- The government is allocating RM1.5 billion under Skim Jaminan Pembiayaan Perniagaan (SJPP) in the 2018 Budget, using intellectual property as an instrument of financial collateral with up to 80 per cent financing guarantee.

The move is one of the measures taken by the government to strengthen Malaysia's position as a comprehensive and competitive financial centre, said Prime Minister Datuk Seri Najib Tun Razak when tabling the 2018 Budget in Parliament today.

For the same purpose, Najib said the government would also provide tax exemption on stamp duties imposed on contract notes for sales and purchase transaction of exchange-traded fund and structured warrants for three years, effective January 2018.

"To stimulate capital market and provide access to investment, the alternative trading system will be introduced subject to compliance to all requirements and regulatory standards. This will enable efficient and significant transaction," he said.

- BERNAMA

Web source: http://www.bernama.com/bernama/v8/newsindex.php?id=1404455