2nd StimulusPlan- Our expectations remain (OSK)

Given the lack of further details, we maintain our expectations that the stimulus package will offer a tax cut or holiday and be focused on SMEs, education and healthcare, with some allocation for smallish construction jobs. As an indication, we estimate that a 2% cut in the corporate tax rate from 25% to 23% would come up to RM2.6bn while a 2% cut in the individual tax rate could amount to RM3.3bn. We will await the 2nd reading of the bill on Tuesday before commenting further.