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Tuesday October 1, 2013 MYT 8:08:00 PM
Thursday October 3, 2013 MYT 8:47:27 PM
by ashreena pillai
Astro COO Henry Tan handing over the mock cheque to OCM president Tunku Tan Sri Imran Tuanku Ja’afar as Khairy Jamaluddin gestures at the cheque.
KUALA LUMPUR: Youth and Sports Minister Khairy Jamaluddin hopes that tax breaks and incentives will be made available to the private sector soon to encourage companies to sponsor local sporting events.
Khairy stated that the private sector has a crucial role to play in the development of sports in the country. He said he has written to the National Treasury to suggest incorporating tax breaks and incentives in the upcoming 2014 Budget for companies which support and sponsor sporting events, tournaments and even academies in the country.
“I think, if they (National Treasury) can introduce a slew of incentives as far as taxation is concerned, that may well assist in roping in more companies to support local sports events. Hopefully some of it will come through in next year’s budget,” said Khairy at the press conference in the Majestic Hotel Tuesday following Astro’s announcement of its RM1mil collaboration with the Olympic Council of Malaysia (OCM).
In June this year, the Government was forced to pump RM8mil into the Kuala Lumpur Sukma Games (Malaysia Games) after organisers only managed to raise RM1mil worth of sponsorship from the private sector for the RM9mil Games.
“In developed countries, the private sector actively comes in to sponsor local sporting events ... but we’re not there yet,” said Khairy.
“Our private sector has a big role to play in this. And in the case of the Sukma Games this year, the taxpayers’ money used to fund the Games could have been channelled to much more deserving efforts like grassroots development projects,” he added.
Khairy said sporting events can also be lucrative in terms of advertisements and increasing brand visibility.
“I think we have to go beyond just the fiscal incentives. The main thing is to actually convince them with the figures and statistics that it is good business to invest in sport,” he added.
Meanwhile, Astro strengthened its collaborative effort with OCM by presenting a cheque for RM1mil to OCM president Tunku Tan Sri Imran Tuanku Ja’afar. The money will go to further developing local sports through its production and distribution of local sports content on its designated sports channel Astro Arena.
The five-year deal, aimed towards supporting the local sports scene, will aid 17 National Sports Associations (NSA) which have signed partnership programmes with Astro Arena. They include football, badminton, squash, hockey, bowling, gymnastics as well as none core sports such as boxing, rugby and cricket.
Tags / Keywords:
OCM, Olympic Council of Malaysia, Tunku Imran Tuanku Ja'afar, Khairy Jamaluddin, Astro, Youth and Sports Ministry
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