Malaysia sets RM2,000 minimum wage for June 2027
The increase will cover over four million workers, with an exemption for MSMEs whose annual revenue falls below RM50 million.
Foreign and domestic investment, new plants, expansion plans and funding.
The increase will cover over four million workers, with an exemption for MSMEs whose annual revenue falls below RM50 million.
Ship purchase and construction loans will attract fixed stamp duty of RM2,000 for amounts up to RM100 million, and RM5,000 above that threshold.
Individual tax relief will rise to RM12,000, while MSMEs will receive a one percentage point reduction in their income tax rate.
Private investment is projected to grow by 7.1%, with spending directed towards technology-intensive services and manufacturing.
The proposed contribution-based system would cover new permanent civil service hires, but no implementation date has been specified.
The Economic Outlook 2027 report prioritises labour-intensive MSMEs, which accounted for around 93.7% of establishments but 51.1% of total wages in 2022.
Services and manufacturing are expected to account for over 80% of employment opportunities as national plans support job creation.
The proposed diversification requires shareholder approval and would shift some power capacity away from silicon metal production.
The second phase will add wafer-bumping and post-bump capacity to serve demand for advanced packaging in AI, data centres and high-performance computing.
Saifuddin expects the budget to extend the Madani government's efforts to widen prosperity and give priority to public well-being.