Entrepreneur

MaGIC Cyberjaya On Rumoured Dissolution: "Business As Usual"

Since Prime Minister Mahathir’s announcement that certain government agencies will be dissolved, some confusion has gone up regarding MaGIC’s status.

Some reports indicate that Mahathir confirmed that MaGIC will be shut down, while others claim that his response came from a misheard question.

To allay these confusions, we reached out to MaGIC for a statement.

According to MaGIC, the Prime Minister is still reviewing all government agencies, and the final decision will be made once this review is concluded.

Meanwhile, it’s business as usual for MaGIC until they receive confirmation.

Their full statement can be read below:

“This morning the Prime Minister said that the review of all government agencies is still underway. He mentioned that final decisions would be made once this review was concluded and that some but not all of the agencies under review will be disbanded. We are watching the situation closely and waiting for further updates. In the meantime it’s business as usual for us at MaGIC as we continue our work to create a vibrant, open and collaborative entrepreneurship ecosystem in Malaysia that helps to nurture and inspire entrepreneurial talent as well as helping enable corporates to better connect and innovate with the startup community around them.”

In an announcement today, Mahathir confirmed that certain government agencies will be scrapped. This includes Land Public Transport Commission (SPAD) and the Special Affairs Department (JASA) and Federal Village Development and Security Committee (JKKP)

The dissolved agencies will be absorbed by relevant ministries, and any assets or manpower will be redeployed where they are needed.

 

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