The Malaysian Institute of Chartered Secretaries and Administrators (MAICSA) lauded the government’s stimulus package of RM60 billion announced by the Deputy Prime Minister, YAB Datuk Seri Najib Razak yesterday.

“We congratulate the government’s efforts to stimulate the economy. With RM60 billion being injected into the economy, it’s not possible for our economy to remain static. We have every reason to be optimistic,” said MAICSA president Akbar Moidunny.

“As an Institute representing more than 4000 members who are mostly company secretaries and corporate advisors to the public listed companies and businesses, we welcome the government’s allocation of RM29 billion to assist the private sector,” added Akbar. “This shows the genuine concern of the government in ensuring that the private sector which contributes more than 50 per cent to our economy will remain sustainable.”

“The Institute is also excited with the RM10,000 financial assistance that will be given to 10,000 students in the master’s programme as we are collaborating with local universities in offering students the Master’s in Corporate Governance. Hence, we encourage graduates to pursue these Master’s programmes which would definitely enhance their employability later on.”

“The Master’s in Corporate Governance prepares our future corporate leaders to become governance specialists to guide the corporations in conducting their businesses in an ethical manner.”

“To further spur the economy, we hope the government could reduce the paid up capital for wholesale and retail trade business from RM1 million to RM500,000 as this will encourage more FDIs to invest in Malaysia that in turn will create more job market. We are also excited to note that FIC regulations would be liberalised making it easier for foreign investors to establish companies here.”

“Finally, we hope the RM60 billion stimulus package would be properly disbursed in a transparent manner and is fair to everyone,” ended Akbar.