COMPANIES from various industries are voicing out their wish list for Budget 2021, hoping that each of their respective industries will begin to economically recover with the help of the government.
Investment holding company Widad Group Bhd hopes to see pump priming measures in key economic sectors such as construction and infrastructure works, road works and water works to rejuvenate the civil and construction industry.
The company also believes that there is a need to inculcate more cost savings as a long term solution for government and agencies’ assets by focusing more on asset maintenance, followed by implementing digitalisation initiatives on work processes.
“We hope that there will be initiatives that help ease corporate cash flows through a more refined tax incentive system, like double tax deduction for no-layoff policies,” Widad managing director Datuk Mohd Rizal Mohd Jaafar said.
“Besides that, gradual tax reductions as well as extension of RPGT waiver and stamp duty incentives for corporates can also induce growth in trade and economic activities,” he added.
Meanwhile, Pertama Digital Bhd hopes that more emphasis will be placed for small and medium sized enterprises (SMEs) and micro SMEs, without leaving the large corporates in Malaysia out in the cold.
“Whilst it is vital that Budget 2021 includes further fiscal measures – for example, cash aid, wage subsidies and assistance – we must also take this once-in-a-generation opportunity to accelerate the widespread adoption of digital productivity en masse,” Pertama Digital executive director Sabri Ab Rahman said.
Echoing the thought, Iconic Worldwide Bhd managing director Datuk Tan Kean Tet also believes that the government should provide more support to the SMEs.
“Support can come in the form of incentives and tax refunds which will help SMEs to sustain themselves through these challenging times,” he said.
Additionally, Tan also mentioned how home buyers are having difficulty purchasing houses and obtaining loans. On this, he hopes that the government and banks could work together in relaxing lending rules and be more lenient on loan approvals.
“This will allow the industry to be able to breathe again,” he added.
Tan also hopes that the government will allocate more budget for the hospitals to enable frontliners to have access to a sufficient supply of personal protective equipment (PPE). – Nov 5, 2020
