Kuala Lumpur: Development financial institutions (DFIs) in Malaysia are calling for the government to decrease or subsidise the stamp duty on financing contracts and hire-purchase agreements in the upcoming Budget 2021.

This was among the proposals presented to Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz during a dialogue session organised by the Association of Development Finance Institutions of Malaysia (ADFIM) in collaboration with Bank Pembangunan Malaysia Berhad (BPMB) yesterday.

ADFIM members also sought an allocation from the government for their empowerment agenda to help in the long-term development of Covid-190-affected entrepreneurs and individuals as well as to promote the national economic landscape, the association said in a statement today.

The main purpose of the dialogue session was to gather information, views, proposals and suggestion from ADFIM members as inputs for Budget 2021 for the Finance Ministry consideration to ensure the economic recovery in on track.

Also present were members of the top management of entrepreneur development organization such as Credit Guarantee Corporation Malaysia Bhd, Malaysia Technology Development Corporation, Perbadanan Usahawan Nasional Bhd as well as representatives from Bank Negara Malaysia.

BPMB signs strategic collaboration with CCBM and CCBL

Kuala Lumpur: Bank Pembangunan Malaysia Berhad (BPMB) has signed a memorandum of understanding (MoU) on a strategic collaboration with China construction Bank (Malaysia) Bhd (CCBM) and China Construction Bank Corporation Labuan Branch (CCBL).

The strategic collaboration is one of the thrusts under BPMB’s three-year Strategic Plan for 2020-2022 and is expected to facilities cooperation in financing strategic projects in Malaysia.

President/Group Chief Executive Officer Arshad Mohamed Ismail said the MoU would also provide a platform to BPMB for regional reach and pave the way for syndication, knowledge sharing and technical assistance.

Furthermore, it will allow the transfer of knowledge among all parties particularly in the areas of CCBM and CCBL’s Green Strategy and BPMB’s Project Evaluation and Impact Assessment Frameworks, he said in a statement today.

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz witnessed the MoU signing during which BPMB chairman Datuk Zaiton Mohd Hassan and CCBM Chief Executive Officer and CCBL principal officer Felix Feng Qi were also present.

BPMB hosted the Budget Dialogue Focus Group with development financial institutions to discuss the challenges, issues and way forward for Malaysia amidst the current pandemic.