News & Reviews:   mof

The Ministry of Finance (MOF) is examining proposals to expand the use of the MyKad-based digital ecosystem, including integration with the Basic Rahmah Contribution (SARA) system to strengthen identity verification in monitoring the sale of subsidised cooking oil.

The Ministry of Finance (MOF) has revealed that as of 31 January 2025, there’s a total of RM12.7 billion in unclaimed money in Malaysia. The Ministry elaborated that this figure is based on what was recorded by the Accountant-General’s Department (AGD).

The Ministry of Finance (MOF) revealed that the Digital Service Tax raked in RM1.6 billion in revenue in 2024. MOF announced the figure in a written Parliamentary reply yesterday (18 February) to a question by Bera MP and former Prime Minister Datuk Seri Ismail Sabri Yaakob.

According to The Edge Malaysia, the Ministry of Finance has confirmed several previous reports, stating that Khazanah and PNB's stake in the e-commerce site Fashion Valet was sold for only RM3.1 million. Both parties' initial investment amounted to RM47 million, namely RM27 million by PNB and RM20 million by Khazanah. So, what should you know about it?

The Ministry of Finance (MOF) has announced that as of today, it has approved more than 30000 applications for the BUDI MADANI RM200 cash aid initiative for diesel vehicle owners. MOF added that the recipients, including farmers and small-scale commodity growers, will receive first cash assistance amounting to RM200 each which will be disbursed on 10 June through their bank accounts.

The Ministry of Finance (MOF) announced details of the MADANI Subsidy Assistance Program which provides targeted subsidies for diesel vehicle owners and smallholders in the agricultural and commodity sectors. That said, what should you know about it?

Back in July, Prime Minister Datuk Seri Anwar Ibrahim announced an RM100 e-Tunai or eWallet aid to 10 million adult Malaysians. Fast forward to today, the government finally revealed when the eWallet credit would be distributed: December 2023.

The Malaysian Government may introduce a new incentive specific for the B40 group in the country to purchase electric vehicles (EVs) in Budget 2024. Such an incentive was touted by the Ministry of Investment, Trade and Industry (MITI), but will only apply to purchases of e-motorcycles.

Previously, we reported on the new initiative by the Federal Government which would provide RM100 of e-Tunai or e-Wallet credits to Malaysians earning less than RM100000 annually. Now, the Ministry of Finance (MOF) has commented on the initiative, saying that it is ready to expedite the e-Tunai's rollout.

The government recently distributed eBeliaRahmah RM200 eWallet credit to youths aged 18 to 20 and eligible full-time students in our country. However, since its disbursement, there have been many stories of recipients getting scammed when trying to cash out the credit, something that the initiative expressly said NOT to do.