Cyber Security Bill Expected To Be Tabled By Year-End

“We recently concluded our third meeting on the Bill, chaired by the Communications Minister, Fahmi Fadzil and the Minister in the Prime Minister’s Department (Law and Institutional Reform), Datuk Seri Azalina Othman Said, on May 14 at the Malaysian Communications and Multimedia Commission office.

“As of now, I can report that the draft is about 60% complete. We aim to table it in Parliament in July but if that timeline is not feasible, we will ensure it is tabled by the final parliamentary session at the end of the year,” she said.

Teo, who is also DAP Wanita chief, spoke to reporters after the Negri Sembilan Wanita DAP Division regular group meeting, which included representatives from eight divisions.

She said the Bill aims to ensure that all platform providers in the country adhere to the relevant standard operating procedure under their purview, as well as facilitate authorities in obtaining information and conducting investigations related to online security issues.

ZTE spearheads Malaysia’s 5G revolution with its ‘Unfolding the Intelligent Future 2024’ event and receives the Malaysia Book of Records’ fastest 5G-Advanced live trial award.

She noted that the ministry also plans to update existing legislation to improve it and close as many loopholes as possible.

In March, Teo reported that the Cabinet had decided to introduce the Cyber Security Bill and instructed the ministry and the Legal Affairs Division of the Prime Minister’s Department to study its necessity.

Realignment Of Bumiputera-Mandated Agencies Empowered To Be Strategic, Effective
Economy Minister Rafizi Ramli announced today the realignment of the three bumiputera-mandated agencies under the ministry’s supervision, in line with the Madani government’s goal to empower and boost the economic participation of bumiputeras in a strategic, sustainable and effective manner.

“The realignment of strategy and implementation for Unit Peneraju Agenda Bumiputera (Teraju), Yayasan Peneraju (YP) and Ekuiti Nasional Bhd (Ekuinas) was implemented after taking into account the views of various stakeholders through engagement sessions held earlier this year.

It will be achieved through smart and innovative collaboration between the public and private sectors, in line with the Madani government’s principles that prioritise inclusivity, effectiveness and sustainability.

“This realignment initiative was also carried out following the mid-term review of the 12th Malaysia Plan, which outlined a strategy to strengthen the role of bumiputera-mandated agencies in delivering the bumiputera agenda,” he said.

Rafizi said this at the Scaling Up Bumiputera Value Creation ceremony here this morning, which was attended by more than 500 people, including representatives of bumiputera companies of various sizes, corporate leaders, government-related companies and government agencies.

He said that through this realignment, YP, Teraju and Ekuinas will play a special role in the bumiputera entrepreneurial ecosystem.

He said YP will focus on talent development to increase the level of bumiputera value creators, while Teraju will act as a super-scaler in driving growth and expanding the scale of bumiputera companies to a higher and more competitive level in the global arena, while Ekuinas will continue to drive wealth creation and bumputera’s economic involvement through corporate equity ownership.

“As a result of this realignment, the three agencies involved have been assigned goals to meet by 2030.

“YP needs to provide 10,000 bumiputera talents who are ready to compete and become industry players. Teraju is targeted to provide financing facilities amounting to RM1 billion through collaboration with the private sector and to develop and improve the capabilities of 1,000 companies,” Rafizi said.

Ekuinas will support more bumiputra entrepreneurial companies that have excellent track records and profits.

Through a RM800 million fund, Ekuinas will invest to support the growth of these companies, ensuring they continue to grow and achieve greater success in the market, said Rafizi.

Meanwhile, today’s ceremony also witnessed the exchange of a number of memoranda of understanding witnessed by Rafizi, among which was between Teraju and Leave a Nest for collaboration and networking opportunities through strategic ecosystems, access to funding and prototyping support.

Apart from that, Teraju will also collaborate with the Malaysian Institute of Economic Research for a facilitation programme through bumiputera corporate depositories, consultation services and advisory services.

Teraju will collaborate with Sirim Bhd for a facilitation programme through consultation and advisory services that focus on technology products and services.

Teraju will also collaborate with financial institutions such as Bank Muamalat Malaysia Bhd, RHB Islamic Bhd, MIDF Bhd, MBSB Bank Bhd, Sabah Credit Corporate, Maybank Islamic Bhd, SME Bank, Agrobank, Bank Rakyat, Credit Guarantee, Exim Bank, Pernas, and the Development Bank of Sarawak to create financing facilities worth RM1 billion for bumiputera companies.

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