Budget 2025 Puts Forth Clear Call To Action For Board Directors -- ICDM

KUALA LUMPUR, Oct 18 (Bernama) -- The MADANI government's Budget 2025 has put forth a clear call to action for board directors, namely to proactively step up, lead with purpose, exercise risk leadership, embrace diversity and innovation and prioritise people and talent to champion the national agenda.

 Institute of Corporate Directors Malaysia (ICDM) president and chief executive officer Michele Kythe Lim said the budget also introduced policies, frameworks and incentives to help companies focus and prioritise.

For instance, she said the allocation of over RM10 billion across different incentive-related areas for talent, development, innovation and for large companies to support the talent building for the nation, underscores the urgency to focus on the key pillars aimed at revitalising industries and catalysing innovation.

"It also highlights the push for the greater participation of all communities, especially women, from their return to work, in entrepreneurship (RM650 million, for women and youth), to achieving the 30 per cent goal of women on boards of Malaysia’s top 100 public listed companies by end- 2027," she said in a statement today.

Lim said the budget's significant focus and bold steps taken to raise the competencies of the government and nurturing talent to drive the nation’s digital transformation in areas of artificial intelligence (AI), cyber security, science, technology, engineering and mathematics (STEM), technical and vocational education and training (TVET) to innovation, also sets the tone for companies to step up to.

"New policies undoubtedly pose new challenges for corporations, but boards and senior management must be proactive in putting in place a clear plan forward, from addressing future risks and seizing opportunities to offer true value to investors and customers, in light of the policy changes or updates. 

"Only then can companies secure and grow income and propel Malaysia and its people into the high-income bracket," she added.

Budget 2025 was tabled by Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim in Parliament today. Worth RM421 billion, the budget is the largest in Malaysia's history.

-- BERNAMA