PUTRAJAYA: Subsidiaries under the Ministry of Rural and Regional Development (KKDW) which are not generating profits will be closed or revamped as the ministry does not want to continue shouldering the burden, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.
Ahmad Zahid who is also the Rural and Regional Development Minister said he had ordered all chairmen of agencies under KKDW to monitor the performance of their respective entities.
"Please turn them around. Those that are not profitable should find ways to contribute profit to the agency or KKDW.
"If not, my order is to close. This is very important so that we do not have to feed loss-making entities in our organisation," he said when delivering his KKDW 2024 Address here today.
Ahmad Zahid said several subsidiaries under KKDW had been closed last year as they were not making profit and the list of companies will be announced in the coming Parliament sitting.
"There were already closures, we also offered management buyout to the management of the companies concerned. We are giving them norminal payment for them to continue if they leave the ministry," he said in a media conference after the ceremony.
Ahmad Zahid said the move to change or close loss-making subsidiaries is a new model and the Prime Minister Datuk Seri Anwar Ibrahim had been informed.
He said the Prime Minister also ordered subsidiaries under the Minister of Finance Incorporated to carry out the same approach as being implemented in KKDW.
Meanwhile, Ahmad Zahid in his address said the Desa MADANI aspiration had been conceived based on the acronym of KKDW which is skills (kemahiran) and knowledge (pengetahuan); effectiveness and efficiency; data and digital as well as 'wow-factor' as an effort to catalyze the work of KKDW staff.
"We know this ministry is responsible for the progress of rural communities. For that, KKDW employees must have a level of understanding and knowledge as well as skills in all issues related to rural development," he said.
He also put forward several approaches and targets that can be used as game-changer and high-impact programmes to be refined and discussed, including Rural to Global (D2G) programme.
"It aims to raise the potential of rural entrepreneurs' products and services to be marketed not only in the country but also abroad," he said.
-- BERNAMA
Bernama
Fri Jan 05 2024
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said he had ordered all chairmen of agencies under KKDW to monitor the performance of their respective entities. - BERNAMA
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
NFOF will be operational in November 2024 with funding of RM1 bil
PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.
Minimum wage to increase to RM1,700 effective Feb 1, 2025
The Progressive Wage Policy would be fully enforced next year with an allocation of RM200 million, benefiting 50,000 workers.
Bursa Malaysia ends higher on Budget 2025 optimism
The benchmark index, which opened 1.85 points higher at 1,643.29, moved between 1,641.71 and 1,649.31 throughout the trading session.
Five important aspects relating to people’s lives in Budget 2025 - PM
The focus is on driving the MADANI Economy, speeding reforms, cutting red tape, raising wages, and tackling the cost of living.
Economic outlook: Govt plans to leverage, expand existing city transit system
The expansion aims to provide a more efficient and reliable public transportation network, reduce congestion, and improve accessibility.
Economic outlook: Budget 2025 to lay foundation for a digital-driven economy
The report said Budget 2025 will entail efforts to position Kuala Lumpur as a top 20 global startup hub by 2030 through the KL20 initiative.
Economic outlook: Corruption and lack of accountability hinder economic progress
Special Cabinet Committee on National governance is established to curb corruption, law reforms to modernise outdate regulations, MoF said.
National Wages Consultative Council will be strengthened
The govt will also incentivise hiring women returning from career breaks, offer job matching and improve care services facilities.
Economic outlook: Ensuring 11 years of compulsory education for all children
Budget 2025 will continue prioritising upskilling and retraining initiatives to equip workers with the latest skill sets necessary.
Consolidated public sector projected to record lower surplus of RM41.7 bil 2024
The MoF said the consolidated general government revenue is estimated to increase slightly to RM384.7 billion in 2024.
PM announces substantial Budget 2025 hastening Malaysia to become Asian economic powerhouse
Datuk Seri Anwar Ibrahim said it would create jobs and also tackle financial leakages to enhance public spending efficiency.