Malaysia to Establish MYR 1.2 Billion Fund to Support Digitalisation of Local Businesses

The Government of Malaysia is considering launching a National Stimulation Fund worth MYR 1.2 billion (USD 281.3 million) in July 2020, to support the digital transformation of local businesses by encouraging innovation and broadening domestic venture capital.

According to local media reports, the Government of Malaysia will fund MYR 600 million out of the aforesaid amount whilst the remaining MYR 600 million will be funded by domestic and international investors. International investors that have expressed interest included SK Group, Hanwha Asset Management, KB Investment Co. Ltd, Provident Growth, 500 Startups and The Hive, as per media reports.

According to Malaysia's short-term e...