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Country's finances highlights of this week's Parliament sitting

ISSUES on the country’s economy and expenditure were among main topics discussed by the Parliament this week, apart from the anti-party hopping law, as it wrapped up its fifth week of sitting.After the motion of thanks for the Yang di-Pertuan Agong’s royal address, which was debated for 10 days by 129 Members of Parliament, was passed on the first day of sitting this week, the august house proceeded with the tabling of three bills, one of which was the Supplementary Supply Bill (2019) 2020 to apply for additional expenditure for services rendered in 2019 totaling RM7,005,753,850, which was then approved last Wednesday after it was debated for two days.Another was the Supply (Reallocation of Appropriated Expenditure) Bill 2020 which was tabled for the second reading on Thursday to apply for additional expenditure for rendered  this year amounting to RM7,184,083,200. ....

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Malaysian VC firms raise $164m under govt funding programme for startups


Malaysian VC firms raise $164m under govt funding programme for startups
The Petronas Towers peek through palm trees. Kuala Lumpur, Malaysia.
May 19, 2021
Eight Malaysia-based venture capital (VC) firms have raised 676 million ringgit ($163.58 million) under a government funding programme for the local start-up industry, a Finance Ministry unit said on Wednesday.
The company, Penjana Kapital, said in a statement that 372 million ringgit of the total came from foreign investors, specifically from Hong Kong and South Korea.
“These funds are crucial to spur our start-up ecosystem and encourage innovation, particularly in the face of COVID-19 challenges,” minister Tengku Zafrul Abdul Aziz said. ....

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