Malaysia is pulling out all the stops in its pursuit of Olympic gold, offering a glittering array of incentives.
According to a Forbes report, that has propelled the nation to the fourth spot among countries with the highest official rewards for gold medalists at the Paris 2024 Olympics.
While Malaysia’s golden bounty is undeniably impressive, the nation still trails behind the top three contenders.
Hong Kong leads the pack, promising its gold medalists a staggering RM7.1 million (HK$12 million).
And it’s working: within just 48 hours in France, the Hong Kong team struck gold twice.
Israel follows closely with a reward of RM6.5 million (US$1.5 million), while Serbia completes the top three, offering RM5.9 million (€1.2 million) to its Olympic champions.
Malaysia’s Record-Breaking Rewards for Olympic Glory
The Youth and Sports Ministry, through the National Sports Council (MSN), is dangling a tantalizing RM1 million carrot for gold medalists under the Sports Victory Prize Scheme, with silver and bronze medalists set to receive RM300,000 and RM100,000, respectively.
But that’s just the tip of the iceberg.
Malaysia’s first Olympic gold medalist is poised to strike it rich with a treasure trove of cash and kind, amounting to a staggering RM7 million if the winner is a badminton player or a still-impressive RM6 million for other sports.
This unprecedented bounty has set the stage for a historic moment in Malaysian sports as the nation eagerly awaits its first Olympic champion.
The closest Malaysia has come was in 2016, when Datuk Lee Chong Wei clinched silver in badminton at the Rio Olympics.
Golden Rewards: Corporate Malaysia’s All-In Support for Olympic Dreams
Corporate Malaysia is rallying behind the nation’s Olympic aspirations, with Yinson Holdings Bhd pledging RM1 million, Matrix Concepts Holdings Bhd, and MJ Health Screening Centre each contributing RM500,000.
In the event of multiple gold medalists, the additional RM2 million will be divided among them.
Senheng New Retail Bhd is sweetening the pot for three national badminton players—Aaron Chia, Soh Wooi Yik, and Chen Tang Jie—who participated in the SS Badminton Talent Programme from 2012 to 2016.
If any of them strike gold, they’ll be rewarded with a cool RM1 million.
Beyond the cash bonanza, gold medalists will also be handed the keys to a luxurious RM1 million apartment in Top Residency, Setia Alam, courtesy of Top Glove founder and executive chairman Tan Sri Dr Lim Wee Chai.
And in a move that’s sure to drive athletes to excel, Chinese car manufacturer Chery Malaysia is offering a sleek sports utility vehicle (SUV) to any athlete who clinches a medal of any hue at the Olympic Games.
