The newly appointed Minister of Finance is introducing Tabung Harapan Malaysia/ Malaysia Hope Fund now enabling good caring Malaysians to donate any amount of money in settling Malaysia RM1 trillion debt inherited from the past government.
Sort of like a trust fund, Tabung Harapan Malaysia is accepting any amount of donation big and small, in Malaysian Ringgit only, to help reduce Malaysia Federal Treasury's debt managed by Ministry of Finance.
A. Tax Exemption
The government also giving dollar to dollar tax exemption for the money you donate meaning if you donate RM1K, you will get RM1K tax exemption, just keep your money transfer receipt.
B. Audit
An accounting firm will be brought in to audit this Tabung Harapan Negara. So each cent of your donation will be ensured to be used in reducing the federal government debt.
C. Why Tabung Harapan Negara
According to Moody's, as an A-rated sovereign, Malaysia's debt-to-GDP ratio is actually quite high. Finance Minister Lim Guan Eng says, if a baby is born today in Malaysia, he will already be RM33,000 in debt.
Instead of just 1. Official Federal Government Debt RM686.8 billion (50.8% of GDP) publicly announced by previous government, Malaysia in 2018 is in all honesty dangerously deep in debt in the form of additional unannounced 2. Government Guarantees RM199.1 billion (14.6% of GDP) eg: 1MDB, and 3. Lease Commitments RM201.4 billion (14.9% of GDP). Hence the overall big total Malaysia federal government debt of RM1,087.3 billion or 80.3% of the GDP.
1MDB - MoF silently paid RM7 million since April 2017. Known guaranteed debt is at total of RM38 billion. If includes all interest for the debt repayment, MoF is certain to pay at a ballpark RM50 billion.
D. It Is Happening
In 24 hours of launching, Tabung Harapan Malaysia already made an awesome collection of RM7 millions. After 48 hours, the total collection rose to RM 18.6 million. Beware of scam account number though, please do a double check on bank account number and bank account holder name before you transfer any money to Tabung Harapan Malaysia.
Malaysian Retail Chain Association (MRCA) donated RM200K.
Malindo Air is donating RM1 for every ticket sold.
Proton is donating RM10 for every car sold.
Spritzer donated RM500K.
Red Eagle cooking oil donated RM500K.
Matrix Concepts donated RM3 million.
Mah Sing donated RM3 million.
Servay Hypermarket donated RM1 million.
Marrybrown donated RM200K.
Tabung Harapan Malaysia
Ministry of Finance
5660 1062 6452 (Maybank)
Photos credit: MoF Malaysia.
#TabungHarapan
#NewMalaysia
#THM
Sort of like a trust fund, Tabung Harapan Malaysia is accepting any amount of donation big and small, in Malaysian Ringgit only, to help reduce Malaysia Federal Treasury's debt managed by Ministry of Finance.
A. Tax Exemption
The government also giving dollar to dollar tax exemption for the money you donate meaning if you donate RM1K, you will get RM1K tax exemption, just keep your money transfer receipt.
B. Audit
An accounting firm will be brought in to audit this Tabung Harapan Negara. So each cent of your donation will be ensured to be used in reducing the federal government debt.
C. Why Tabung Harapan Negara
According to Moody's, as an A-rated sovereign, Malaysia's debt-to-GDP ratio is actually quite high. Finance Minister Lim Guan Eng says, if a baby is born today in Malaysia, he will already be RM33,000 in debt.
Instead of just 1. Official Federal Government Debt RM686.8 billion (50.8% of GDP) publicly announced by previous government, Malaysia in 2018 is in all honesty dangerously deep in debt in the form of additional unannounced 2. Government Guarantees RM199.1 billion (14.6% of GDP) eg: 1MDB, and 3. Lease Commitments RM201.4 billion (14.9% of GDP). Hence the overall big total Malaysia federal government debt of RM1,087.3 billion or 80.3% of the GDP.
1MDB - MoF silently paid RM7 million since April 2017. Known guaranteed debt is at total of RM38 billion. If includes all interest for the debt repayment, MoF is certain to pay at a ballpark RM50 billion.
D. It Is Happening
In 24 hours of launching, Tabung Harapan Malaysia already made an awesome collection of RM7 millions. After 48 hours, the total collection rose to RM 18.6 million. Beware of scam account number though, please do a double check on bank account number and bank account holder name before you transfer any money to Tabung Harapan Malaysia.
Malaysian Retail Chain Association (MRCA) donated RM200K.
Malindo Air is donating RM1 for every ticket sold.
Proton is donating RM10 for every car sold.
Spritzer donated RM500K.
Red Eagle cooking oil donated RM500K.
Matrix Concepts donated RM3 million.
Mah Sing donated RM3 million.
Servay Hypermarket donated RM1 million.
Marrybrown donated RM200K.
Tabung Harapan Malaysia
Ministry of Finance
5660 1062 6452 (Maybank)
Photos credit: MoF Malaysia.
#TabungHarapan
#NewMalaysia
#THM
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| Tabung Harapan Malaysia Maybank bank account 5660 1062 6452. |
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| Establishment of Tabung Harapan Malaysia, May 30th 2018. |
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| Malaysia government debt vs appointed finance minister. |
