00:00 Ladies and gentlemen, the government will continue to make capital market investments in Malaysia rakyat-friendly.
00:08 In line with the international best practices and to expand the tax base, the government introduced the capital gains tax in Majang 1 in 2024.
00:16 The scope of CGT focuses on gains from disposal of unlisted shares by companies.
00:22 Disposable of listed shares and disposal by individuals are not subject to CGT.
00:28 Through various engagements we've had on this matter, it has come to our attention that one unintended area impacted by CGT is unit trusts.
00:39 Given that more than 90% of unit trusts are individuals, I want to assure you that this government values feedback and engagements.
00:50 I am pleased to announce that the government has agreed to exempt the imposition of capital gains tax as well as tax on foreign source income on unit trusts.
01:00 This is to ensure that the rakyat will continue to benefit only from the gains of their hard-earned money and invest in their future.
01:13 The exemption of FSI takes effect on 1 January 2024 until 31 December 2026.
01:22 Meanwhile, the exemption of CGT is effective 1 January 2024 until 31 December 2028.
01:30 Ladies and gentlemen, the reforms initiated by the Mandani government are yielding gains.
01:38 The economy Mandani framework has provided a clear roadmap to propel Malaysia to a higher economic value chain and breathe confidence into global investors.
01:50 In the first nine months of 2023, Malaysia secured RM225 billion in approved investments.
01:58 This represents a 7% increase from a year earlier, bringing it to the highest amount for the corresponding period over the last decade.
02:07 This indicates that investors have responded well to the economy Mandani vision, along with supporting policy documents, namely the National Energy Transition Roadmap Letter,
02:19 the new Industrial Master Plan 2030 NIMP and the mid-term review of the 12 Malaysia Plan.
02:28 The economy framework, along with these policy documents, demonstrates the government's commitment to elevate Malaysia's position in the global supply chain and embolden our business's ESG values.
02:42 In the coming months and years, the government will see through the execution of these policy documents and to ensure that the economy Mandani vision will become a reality.
02:52 [BLANK_AUDIO]
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