xfdws LOCAL-COMPANIES-URGED sked Emerging Markets Datafile<\/p>\n
August 04, 2003<\/p>\n
BUSINESS TIMES<\/p>\n
MALAYSIA<\/p>\n
ENGLISH<\/p>\n
Local companies urged to make use of RM500m TIF, BUSINESS TIMES<\/p>\n
Jason Gerald<\/p>\n
ASIA WorldSources, Inc. 322 MASSACHUSETTS AVENUE 2ND FLOOR, NE WASHINGTON, DC 20002 COPYRIGHT 2003 BY WORLDSOURCES, INC., A JOINT VENTURE OF FDCH e-Media, INC. AND WORLD TIMES, INC. NO PORTION OF THE MATERIALS CONTAINED HEREIN MAY BE USED IN ANY MEDIA WITHOUT ATTRIBUTION TO WORLDSOURCES, INC.<\/p>\n
THE Government is calling for more local companies to come forward and take advantage of the Technology Investment Fund (TIF) to acquire equity in foreign companies or invest in start-up companies in new growth sectors.<\/p>\n
Second Finance Minister Datuk Dr Jamaludin Jarjis said to date, only 10 per cent of the RM500 million TIF had been taken up.<\/p>\n
Similarly, a RM100 million allocation administered by Malaysian Venture Capital Bhd has also not been fully taken up.<\/p>\n
Set up under the Economic Stimulus Package, the RM100 million fund is to spearhead seed investment, nurture entrepreneurial development and generate new opportunities in information and communications technology (ICT).<\/p>\n
Jamaludin called on returning Malaysians holding a Master’s degree or a Doctor of Philosophy, and those formerly working for foreign ICT companies overseas to take up the seed venture capital if they have new ideas for business.<\/p>\n
”Since the past few months, only RM50 million of the TIF and RM10 million of the seed venture capital has been disbursed to successful applicants.<\/p>\n
”Due to this, we are urging more Malaysian companies and young Malaysians with new ideas in the ICT sector to come forward and take this opportunity,” he said.<\/p>\n
Jamaludin was speaking to reporters after launching the National Computer’s (Nascom) Pioneer Project for School Laboratories at Sekolah Kebangsaan Keratong 10 in Malacca recently.<\/p>\n
Also present at the launch were DRB-HICOM Bhd Group chairman Tan Sri Saleh Sulong, DRB-HICOM Information Technologies Sdn Bhd (DHIT) chairman Datuk Yatina Yahaya and state education director Abdul Rahim Noh.<\/p>\n
Under the Nascom project, two schools-SK Keratong 10 and Sekolah Menengah Kebangsaan Simpang Bekoh in Asahan, Malacca-will have a computer laboratory set up by DHIT to test the open source computer system.<\/p>\n
Copyright 2003 BUSINESS TIMES all rights reserved as distributed by WorldSources, Inc.<\/p>\n","protected":false},"excerpt":{"rendered":"
xfdws LOCAL-COMPANIES-URGED sked Emerging Markets Datafile August 04, 2003 BUSINESS TIMES MALAYSIA ENGLISH Local companies urged to make use of RM500m TIF, BUSINESS TIMES Jason Gerald ASIA WorldSources, Inc. 322 MASSACHUSETTS AVENUE 2ND FLOOR, NE WASHINGTON, DC 20002 COPYRIGHT 2003 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-654","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=654"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/654\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}