37 CEMI Applications Received As Of June 12
SANDAKAN, June 16 (Bernama) -- The Concert and Event in Malaysia Incentives (CEMI), a financial rebate initiative introduced by the Communications Ministry through MyCreative Ventures (MyCV) on May 15, has received 37 applications as of June 12, said Deputy Communications Minister Teo Nie Ching.
She stated that the government had allocated RM10 million for CEMI to boost the local creative industry through strategic partnerships in concert and event management nationwide.
'I strongly encourage industry players, especially those in Sabah, to take this opportunity and apply for the incentive before the application deadline on July 10, 2025.
'CEMI covers two types of applications for concerts and events featuring international or local artistes.
The incentive aims to support the organisation of large-scale concerts and music events for 15,000 people and more,' she told reporters after opening the 'Ask Me Anything' road tour for the 2025 Creative Content Fund (DKK) – Music Industry by MYCV here today.
She noted that the growth of the concert industry in Malaysia has generated significant returns for the country, prompting the introduction of the incentive.
'In 2023, a total of 335 international concerts were held in Malaysia, contributing over RM498 million to the national economy. In 2024, this number rose to 408 international concerts, generating RM553 million in returns,' she said.
Meanwhile, Teo urged the arts and creative community in Sabah and Sarawak to apply for the DKK provided by the government as part of efforts to develop a competitive and impactful music industry.
'The government has allocated RM6.3 million for DKK. Three DKK programmes are being actively implemented, including the Music Performance Fund, which is open for applications until June 30,' she said, adding the deadline for the International Marketing and Promotion Fund and the Domestic Marketing and Promotion Fund is on Dec 1.
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This is our current reality: United States President Donald Trump's asinine trade tariff tantrum will make life tougher for both Americans and the rest of the world, because the economic friction introduced by his tariffs will lower Earth's potential aggregate economic growth. The reduction will make life less palatable for most of Earth's 8.2 billion people. Thankfully, there are ways for regular people to restructure their finances to benefit from the economic and capital market volatility stemming from bad policies gushing out from the once-respected White House like a high-pressure stream of raw sewage. In April, Forbes magazine released its 39th annual World's Billionaires list. It unearthed a record number of 3,028 billionaires with an aggregate net worth of US$16.1 trillion. The mean net worth of those 3,000-plus super-wealthy men and women this year: US$5.3 billion. The world's first billionaire was oilman John Davison Rockefeller — later referred to as John D. Rockefeller Sr when his son John D. Rockefeller Jr was born. JDR Sr became a billionaire in 1916 at the age of 77. To their credit, he and his progeny nurtured a culture of philanthropy that benefitted millions over many decades. JDR Sr died in 1937 at the age of 97 years and 10 months. Five years before his demise, in writer John Thomas Flynn's book God's Gold: The Story of Rockefeller and His Times, JDR Sr is quoted saying: "I believe the power to make money is a gift from God — just as the instincts for art, music, literature, the doctor's talent, the nurse's, yours — to be developed and used to the best of our ability for the good of mankind. "Having been endowed with the gift I possess, I believe it is my duty to make money and still more money; and to use the money I make for the good of my fellow man according to the dictates of my conscience." I find that almost century-old statement of mission and intent (from 1932) inspiring. 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So, to help such individuals, I've been laying the foundation of this blueprint over several weeks. Here it is: 1. Recognise the value of two distinct processes; 2. Embrace high market volatility as a long-term aid to wealth-building; 3. Harness a logical long-term investment strategy; and 4. Use a readily available banking facility to put your plan on autopilot. Allow me to elaborate: 1. The Two Processes The six-step financial planning process and a logical three-part wealth-building process can be of use to almost all adults of sound mind. Read that recent Money Thoughts column for a rundown of both processes. Do take note of the second process, which comprises one principle, one strategy and one system. Each of which will be sequentially covered below to provide you — hopefully — with a robust framework to build future wealth for your family, most likely within the target range of RM100,000 to RM10 million. 2. Volatility's hidden value In both business and investing, the most straightforward way to make money is to buy low, and sell high. It is a powerful principle. When we understand this unchanging economic truth, we can begin looking upon asset price volatility as a beneficial wealth-building mechanism. Elaboration: 3. Understand dollar-cost averaging Unfortunately, a mere cerebral acceptance of the validity of buying low and selling high is useless unless we can also implement a disciplined strategy to do so consistently. The dollar-cost averaging (DCA) fits the bill. Perfectly. 4. Rely on standing instructions Finally, even after we reach the point of understanding that it is economically beneficial to implement a personal DCA strategy when aiming to build lifelong wealth, we still need a pragmatic system to automatically and emotionlessly implement that strategy. The system I recommend hinges on bank Standing Instructions that regularly shunt cash out of our bank account into, ideally, a diversified savings and investment portfolio for decades on end. Digesting all the material in today's column requires time and attention. I know most readers won't embark on the full journey, but the minority that does will prosper; and in all likelihood, bigtime. © 2025 Rajen Devadason
