PETALING JAYA: The Malaysian Communications and Multimedia Commission (MCMC) is fast-tracking the use of its Universal Service Provision (USP) fund, having awarded RM264mil last week, and will announce a further RM1.4bil worth of funding before the year-end, sources said.
According to the 2008 annual report of the MCMC on the USP fund, the fund size totalled RM4.7bil as at the end of last year. The figure is believed to have topped RM5bil to date. This would make the MCMC one of the richest government regulatory bodies. (The USP fund is deposited with local banks CIMB, RHB, EON Bank and Maybank, the annual report revealed.)
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