KUALA LUMPUR: Malaysia's first Olympic champion will instantly become a millionaire, with the gold medallist at the Paris Games set to earn up to RM4 million, along with a luxury serviced apartment worth RM1 million.

Yinson Holdings Berhad, Matrix Concepts Holdings Berhad, and MJ Health Screening Centre are the latest Malaysian companies to offer cash incentives to the first gold medal winner.

Yinson Holdings has pledged RM1 million, while Matrix Concepts and MJ Health will each contribute RM500,000.

If a badminton pair or the three-woman archery team wins the first Olympic gold in Paris, the reward will be divided equally among the winners.

These latest cash incentives are in addition to the RM1 million offered through the National Sports Incentive Scheme (SHAKAM).

Last week, property developer Top Residency announced they would reward Malaysia's first gold medallist with a serviced apartment worth RM1 million.

Additionally, electronics chain Senheng has pledged RM1 million to shuttlers Aaron Chia, Soh Wooi Yik, and Chen Tang Jie, who were part of its SS Bakat Badminton Programme, if they win gold medals.

All Olympic medallists will also receive a sports utility vehicle (SUV) from China's automotive brand, Chery.

Youth and Sports Minister Hannah Yeoh expressed her gratitude to the sponsors, stating that the incentives will further motivate Malaysian athletes to bring home the country's first Olympic gold medal from Paris. She said, "I extend my gratitude to all sponsors. It will further motivate the Malaysian athletes to bring home the country's first Olympic gold medal from Paris. I am confident the 26 athletes will do their best."

Meanwhile, Malaysia's chef de mission Datuk Hamidin Amin said the incentives will spur the athletes in Paris. "We are very excited that many corporate bodies are supporting the national contingent. All these incentives serve as a strong motivator. We hope the national athletes will deliver inspiring performances to win the country's first gold medal," Hamidin said.

For the record, Malaysia has won 13 medals — eight silver and five bronze — since their first Olympic participation at the 1956 Melbourne Games. Badminton has contributed six silver and three bronze medals, while cycling and diving have each won one silver and one bronze.