Diversified venture capital funding essential, says Amir Hamzah

Diversified venture capital funding essential, says Amir Hamzah

KUALA LUMPUR: There is a need for diversified funding in Malaysia’s venture capital landscape as it is overly reliant on government-related sources, said Finance Minister II Datuk Seri Amir Hamzah Azizan. He highlighted that in 2022, government agencies and sovereign wealth funds contributed nearly two-thirds, or 63%, of total venture capital funding. “While this demonstrates…

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Malaysia aims to produce 2 million tonnes of hydrogen annually by 2030

Malaysia aims to produce 2 million tonnes of hydrogen annually by 2030

PETALING JAYA: Malaysia aims to produce two million tonnes of hydrogen annually by 2030., scaling up to 16 million tonnes by 2050, under the Emission Driven Scenario (EDS), according to Science, Technology and Innovation Minister Chang Lih Kang. He said the successful implementation of the Hydrogen Economy and Technology Roadmap (HETR) will enable Malaysia to…

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SEEd.Lab allocates RM250,000 for each venture under its incubation programme

SEEd.Lab allocates RM250,000 for each venture under its incubation programme

KUALA LUMPUR: The Social Enterprise Education Lab (SEEd.Lab), an incubator programme by Petroliam Nasional Bhd (Petronas) in collaboration with Tata Consultancy Services (TCS), is allocating RM250,000 for each venture under its incubation programme. SEEd.Lab head and programme manager Aidonna Jun Ayub saisd the amount includes a RM50,000 grant for each venture. “The 12-18 months programme…

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New Investment Incentive Framework will balance Global Minimum Tax compliance with keeping Malaysia competitive

New Investment Incentive Framework will balance Global Minimum Tax compliance with keeping Malaysia competitive

KUALA LUMPUR: The New Investment Incentive Framework (NIIF) will balance complying with the Global Minimum Tax (GMT) while still keeping Malaysia competitive as an investment destination, said Datuk Johan Mahmood Merican, Secretary-General of Treasury, Ministry of Finance. He said the government needs time to develop the NIIF because it wants to improve the current sector-based…

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Bank Negara exploring potential of wholesale central bank digital currency

Bank Negara exploring potential of wholesale central bank digital currency

KUALA LUMPUR: Bank Negara Malaysia (BNM) is exploring the potential of wholesale Central Bank Digital Currency (CBDC) to facilitate payments and settlements between banks, both domestically and across borders. At present BNM is not only mulling CBDC’s potential but also conducting preparatory work to understand its implications. This was disclosed to the media during the…

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Government committed to national ESG development

Government committed to national ESG development

PUTRAJAYA: The government is staying committed to national environmental, social, and governance (ESG) development despite concerns that the newly elected Trump administration in the US may dismantle ESG regulations. Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad said “climate change is real, no matter who the American president is”. “We recognise Malaysia is…

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