Ambank expects more benefits for urban poor

KUALA LUMPUR: AMMB Holdings Bhd (Ambank Group) expects to see more initiatives that will benefit the urban poor, including introducing a fixed nominal monthly fee for unlimited rides on public transport facilities, in the upcoming Budget 2019 announcement.

“We also hope the government is able to look into ‘social housing’ measures that will motivate and empower the urban poor to buy and own properties below RM100,000, which they are currently renting from third parties,” Ambank Bhd chief executive officer, Datuk Sulaiman Mohd Tahir, said in a statement yesterday. Sulaiman said they also expected the Budget to provide more tax breaks for children’s rising educational expenses to address the current socioeconomic conditions and ease the burden of the people.

“We also hope to see more investments and reduced cutbacks to improve the education sector, as well as to focus on the importance of information technology by adopting digital solutions and introducing coding in the curriculum, for example.

“We are optimistic that sound policies and rational initiatives will be the staple for Budget 2019 and this will set the framework for more progress and strengthening of the Malaysian economy for us to punch above other nations in this highly globalised and dynamic ecosystem,” he added.