DATUK SULAIMAN MOHD TAHIR
THE 2017 Budget continues to focus in ensuring the economy continues to expand at a healthy pace, and at the same time reduce the fiscal deficit and address the public debt with the overall objective of bringing prosperity to the nation and promoting the wellbeing of the rakyat.
One of the key initiatives of the Budget 2017 is on the affordable homes. The introduction of PR1MA house end-financing scheme bodes well. In particular, it will benefit those household in the M40 category, whose salary bracket falls between RM3,860 and RM8,319 per month, as well as the B40 category, whose salary bracket is RM3,855 and below. This scheme will help address the first-time home buyers in these income categories who are currently experiencing difficulties to own affordable homes due to its limited supply.
Another initiative under the Budget 2017 which will bode well for the economy is the introduction of reduction of tax payable by stages based on percentage increase income for the SME sector. Also, the tax reduction on chargeable income up to the first RM500,000 from 19% to 18% effective next year. Such incentives are expected to place the SMEs in a better footing and will enable them to contribute more significantly to the economy.
DATUK ABDUL FARID ALIAS
Group president & chief executive officer of Maybank,
chairman of the Association of Banks Malaysia
BUDGET 2017 supports domestic demand amid such external uncertainties and volatilities.
Reducing further the budget deficit to 3% of GDP next year reflects the Government’s unwavering commitment to achieve a near-balanced budget by 2020.
We are pleased to announce that we will be allocating a facility of up to RM2bil to end finance PR1MA homebuyers eligible for the new special “step up” end-financing scheme for the PR1MA housing programme.
TENGKU DATUK SERI ZAFRUL AZIZ
Group chief executive officer,
CIMB Bank is pleased to have been selected as one of the four Malaysian banks to provide PR1MA end-financing to facilitate home ownership of houses valued at RM150,000-RM300,000 among the lower income group. We are confident that the proposed measures in Budget 2017 will achieve the fiscal deficit target at 3% of GDP for 2017.
DATUK KHAIRUSSALEH RAMLI
Group managing director,
RHB Banking Group
THE affordable home ownership scheme announced by the Government through PR1MA will enhance the eligibility of this group of the population to own a house, and RHB is honored to be able to be involved in this scheme. The budget also bodes well for the business community with the various tax relieves and incentives which stimulate a robust SME sector.
TAN SRI LEONG HOY KUM
Group managing director and group chief executive,
WE appreciate the stamp duty exemption of 100% compared to the current 50% for homes under RM300,000. For those who have the intention of buying higher-end homes, the stamp duty increase from 3% to 4% for homes more than RM1mil will encourage advance buying of completed properties prior to Jan 1, 2018.
TAN SRI ABDUL WAHID OMAR
Permodalan Nasional Bhd
NOTWITHSTANDING the limited resources, the Government is optimising operating expenditure and increased development expenditure budget to RM46bil. I am therefore encouraged that the Prime Minister has maintained our commitment towards fiscal consolidation with fiscal deficit expected to be reduced to 3% of GDP from 3.1% in 2016. This is important to ensure we retain our international credit rating at A3 or A-.
TAN SRI LIM KIM HONG
WITH the investment of RM1bil to ensure the coverage and quality of broadband nationwide reaches up to 20 megabytes in the Budget 2017, the plan for double speed at half the price for digital connectivity will spur the development of the Internet of Things (IoT) home, as forward-looking developers can now press on with greater technologically-based initiatives, no longer having to be overly concerned by this cost consideration.
TAN SRI LODIN WOK KAMARUDDIN
Lembaga Tabung Angkatan Tentera
LEMBAGA Tabung Angkatan Tentera is heartened to note that the Government will be providing a Special Insurgency Incentive Payment to Armed Forces veterans amounting to RM55mil to enable those who have lost their abilities during their service in addition to Disability Pension.
The importance placed on the healthcare sector is evident, given the total allocation of RM25bil for this sector. This bodes well particularly for our pharmaceutical arm, Pharmaniaga Bhd.