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  2017 BUDGET COMMENTS BY DATO' SULAIMAN MOHD TAHIR, GROUP CEO, AMBANK GROUP

Saturday 22/10/2016



KUALA LUMPUR, Oct 22 (Bernama) -- 
 
The 2017 Budget continues to focus in ensuring the economy continues to expand at a healthy pace, and at the same time reduce the fiscal deficit and address the public debt with the overall objective of bringing prosperity to the nation and promoting the wellbeing of the Rakyat.
 
Affordable Homes
One of the key initiatives of the Budget 2017 is on the affordable homes. The introduction of PR1MA house end-financing scheme bodes well. In particular, it will benefit those household in the M40 category whose salary bracket falls between RM3860 to RM8319 per month as well as the B40 category whose salary bracket is RM3855 and below. This scheme will help address the first time home buyers' in these income categories who are currently experiencing difficulties to own affordable homes due to its limited supply.
 
SME
Another initiative under the Budget 2017 which will bode well for the economy is the introduction of reduction of tax payable by stages based on percentage increase income for the SME sector. Also, the tax reduction on chargeable income up to the first RM500,000 from 19% to 18% effective next year. Such incentives are expected to place the SMEs in a better footing and will enable them to contribute more significantly to the economy. 
 
About AmBank Group
AmBank Group is one of Malaysia’s premier financial solutions groups with nearly 40 years of legacy in understanding Malaysians and provides a wide range of both conventional and Islamic financial solutions and services, including retail banking, wholesale banking, as well as the underwriting of general insurance, life assurance and family takaful.
 
The Group’s purpose to help individuals and businesses in Malaysia grow and win together shows our renewed vision to support and empower our customers and our people to achieve their aspirations. This purpose underpins the Group’s holistic “Top Four” Aspiration, focused on sustenance, improvement and growth in key segments and products as well as our role as an Employer. AmBank Group – a modern Malaysian diversified financial solutions partner that understands and meets the diverse needs of modern Malaysians.
 
The Group receives strong support from the Australia and New Zealand Banking Group (“ANZ”) (one of Australia’s leading banks) particularly in Board and senior management representations, risk and financial governance, products offering and new business developments. In the general insurance business, the Group has partnered with Insurance Australia Group Ltd (“IAG”). Whilst in the life assurance and family takaful businesses, the Group has a partnership with MetLife International Holdings Inc. (“MetLife”). The Group benefits in terms of expertise transfer from IAG and MetLife.
 
AMMB Holdings Berhad is the holding company of AmBank Group and is a public listed company on the Main Market of Bursa Malaysia.
 
For more information, please visit www.ambankgroup.com  

Source : AmBank Group

FOR MORE INFORMATION, PLEASE CONTACT:
Name : Syed Anuar Syed Ali
Head, Group Corporate Communications and Marketing
Tel : 03-2036 1703 
Email : sasa@ambankgroup.com 

--BERNAMA

 

 
 
 

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