The group’s operating profit was down 14.48% to RM378.87 million from RM443.02 million, on higher expenses and higher cost of sales, offset by a net gain of disposal of investment properties.

It added that it will quickly set up the new co-investment fund of RM500 million for investments alongside private investors in early-stage and growth-stage Malaysian companies.

Revenue grew 16% to RM3.12 billion from RM2.68 billion, on higher sales in the automotive and manufacturing and engineering businesses, its stock exchange filing today showed.

In a statement, it said the relief measures include the deferment of corporate income tax payment, electricity subsidy, exemption of service tax and a RM1,000 tax relief for Malaysians to choose domestic travel destinations.

Secretary-general Tan Sri Annuar Musa: Umno is getting stronger, more united and solid.

Dr Mahathir said Muhyiddin would be more flexible than him when it came to working with Umno.

The officer, Mohd Nasharudin Amir, also testified that the admission did not come from the Saudi royal but his legal representative.

“Interested SMEs can apply directly to participating financial institutions which comprise commercial banks, Islamic banks and development financial institutions regulated by BNM. They may also apply online through the business financing referral platform at imsme.com.my.”

It addresses the association’s two main concerns directly — to ease cash flow and financial burden as well as to drive tourism.

Asked if the government will be issuing bonds to fund the stimulus package, Dr Mahathir said: “At the moment, we have enough source of money. But if necessary, we may issue bonds.”