By JAGDEV SINGH SIDHU and FINTAN NG

KUALA LUMPUR, MALAYSIA: Companies big and small found themselves recipients of the measures contained in the RM60bil mini budget, which focused on addressing the credit woes faced by the private sector.

In helping to overcome the tight credit market, the Government announced it was setting up a Financial Guarantee Institution and a Working Capital Guarantee Scheme and reducing the time companies take to raise funds from the capital markets.

The investment funds of Khazanah Nasional Bhd were increased by RM10bil to be invested over two years, while the tourism industry was given a RM200mil boost.

Deputy Prime Minister and Finance Minister Datuk Seri Najib Razak also announced several tax measures which experts said were progressive and would help smaller companies.

AmResearch Sdn Bhd research head Benny Chew said the mini budget was a step in the right direction.