Minister: Govt to provide RM20.7b in cash, incentives over five years for digitalisation

Wednesday, 13 Nov 2019 06:27 PM MYT\\

 

 

 

 

 

CYBERJAYA, Nov 13 — The government is providing RM20.7 billion worth of cash and non-cash incentives for over five years from next year to assist Malaysian companies’ transition to the Fourth Industrial Revolution (IR4.0), said Finance Minister Lim Guan Eng.

“After all, either you digitalise, or you will not survive. This is the reality that we have to face,” he said at the 60th Pan-Asian E-Commerce Alliance (PAA) steering committee meeting, here today.

Citing the Department of Statistics, Lim said the digital economy constituted 18.5 per cent of the country’s gross domestic product (GDP) in 2018.

He said the government’s efforts would push the share higher, with the International Data Corporation expecting it to reach 21 per cent by 2022.

 

“The government is aiding the digitalising and future-proofing of the economy by investing heavily in digital infrastructure, reforming the broadband market, and encouraging small and large businesses to make the leap towards IR4.0,” he said.

Lim said the government would invest RM21.6 billion through Public-Private Partnerships over five years from 2019 to 2023 under the National Fiberisation and Connectivity Plan, which will widen the coverage of high-quality, high-speed broadband Internet nationally while providing Malaysians with affordable services.

“This will lay the groundwork for a comprehensive implementation of 5G in Malaysia, and gives the country a first-mover advantage in the era of Industry 4.0,” he added.

Moving forward, he said all sectors in the country must be ready for digital transformation, underpinned by IR4.0.

He also said Malaysia would continue to support the development of a rules-based multilateral trade framework that is free, while providing a level-playing field and market access that protects smaller players.

“The days of ‘government knows best’ is over, we should give the professionals and experts the freedom to do what they do best,” he added.

While the public sector-led initiatives are important, Lim said the private sector should lead initiatives on their own to raise their competitiveness that will benefit the country.

Thus, he said the government advocated the 4Ps partnership, involving the public sector, private sector, professionals and the people.

Lim said Dagang Net Technologies Sdn Bhd, as the operator of Malaysia’s National Single Window (NSW) for Trade Facilitation, would continue to be actively involved in industry

 

initiatives such as organising the PAA, aimed at improving the industry and enhance greater collaboration, as well as advocate a multilateral trade framework and e-commerce platform.

Dagang Net’s NSW ecosystem is currently connected to 167 customs stations, 24 seaports, 56 private jetties, 14 banks including five foreign banks, over 30 other government agencies issuing permits, and 30,000 importers, exporters, forwarding agents, and manufacturers processing 200 million transactions per year. — Bernama

 

CALVIN COMMENTS:

 

 

Lim said the digital economy constituted 18.5 per cent of the country’s gross domestic product (GDP) in 2018.

 

THIS IS ANOTHER REASSURANCE FROM FINANCE MINISTER LIM GUAN ENG ON THE NFCP FIBERISATION PROGRAM FOR MALAYSIA FOR

 

YEAR 

 

2019 = FIBERISATION 

2020 = FIBERISATION

2021 = FIBERISATION

2022 = FIBERISATION

2023 = FIBERISATION

 

FROM 18.5% OF COUNTRY'S GROSS DOMESTIC PRODUCT TO 21% IS AN INCREASE OF 13.5%

 

He said the government’s efforts would push the share higher, with the International Data Corporation expecting it to reach 21 per cent by 2022.

THE PUSH FROM 18.5% TO 21% = 2.5% 

2.5% OF 18.5% = AN INCREASE OF 13.5%

SO FINANCE MINISTER HAS GIVEN US THE BLUE PRINT FOR ECONOMIC GROWTH BY THE DIGITAL ECONOMY

THIS EXCELLENT POINTER TELLS US TO PUT 38% OF OUR CAPITAL  INTO DIGITAL STOCKS!!

FOR CALVIN HE WILL ALLOCATE 80% OF HIS CAPITAL INTO DIGITAL STOCKS

SINGAPORE IS ONLY GROWING BY 1 TO 2% NOW AS IT MATURES. IN MANY PARTS OF THE WORLD THERE IS ZERO OR NO GROWTH. SOME COUNTRIES BOND YIELDS ARE IN MINUS TERRITORY

SO MALAYSIA IS TAKING THE RIGHT STEP IN THE RIGHT DIRECTION = NFCP

AND DIGITISATION IS NOT AN OPTION: IT IS AN IMPERATIVE

SEE

“After all, either you digitalise, or you will not survive. This is the reality that we have to face,”

TO SURVIVE AND NOT DIE = THAT IS THE REASON FOR DIGITISATION

 

AND HOW MUCH MONEY FROM THE 12MP BUDGET GOES INTO NFCP?

RM21.6 BILLIONS IS THE LION SHARE OF 38% OUT OF THE RM56 BILLIONS AVAILABLE FUNDS FOR DEVELOPMENTS (REST OF MONIES IN FIXED OPERATIONAL COST LIKE 1.6 MILLIONS GOVT SERVANT SALARIES, PENSION FUNDS FOR RETIREEES SINCE THE DAYS UNDER BRITISH RULE & OTHER FIXED EXPENSES)

TO TAKE 38% OF CAPITAL AND PUT IT INTO THE DIGITAL ECONOMY IS A BIG SLICE OF THE BUDGET CAKE

THE HUGE CAKE WILL NOW BENEFIT DIGITAL STOCKS LIKE

 

1) OPCOM = NUMBER ONE CHAMPION IN OPTIC MANUFATURING

2) NETX = NUMBER ONE AS NETWORK INFRAR SPECIALIST

3) REDTONE = LAST MILE EXPERT FOR RURAL INFRAR

4) CMSB (THRU SACOFA) MONOPOLY OF TELCO TOWERS IN SARAWAK

5) TELEKOM (rM10.8 BILLIONS ALLOCATED BY WHICH IT WILL APPOINT VENDORS )

OTHERS ARE GPACKET, BINACOM, ROHAS, OCK, MAXIS, CELCOM, DIGI, U-MOBILE & OTHERS

PLEASE DO YOUR OWN DUE DILIGENCE WHERE TO PARK YOUR MONIES FOR THE 12 MP BUDGET THRUST

THE NFCP IS VERY GOOD FOR MALAYSIA AS IT IS TOTALLY INSULATED AND ISOLATED FROM THE TRADE WAR RAGING OUTSIDE CURRENTLY. THIS UNCERTAINTY HAS CAUSED EXPORT STOCKS TO SUFFER UNCERTAINTY

OIL AND GAS INDUSTRIES MIGHT FACE THE IMMINENT SLOW-DOWN MONTHS AHEAD DUE TO THE RETURN OF NORTH-EAST MONSOON FROM NOV TO MARCH MONTHS

BUT FIBERISATION WILL GO ON = MONTH AFTER EXCITING MONTH  NON-STOP FOR THE NEXT 5 GOOD YEARS

 

BEST REGARDS

CALVIN TAN RESEARCH

SINGAPORE

 

PLEASE BUY OR SELL AFTER DOING YOUR OWN DUE DILIGENCE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

https://klse.i3investor.com/blogs/savemalaysia/235348.jsp