Malaysia Budget 2020: SMEs and Entrepreneurs Get More Supports Small and medium enterprises (SMEs) and entrepreneurs were among the groups that will benefit from Malaysia Budget 2020. Amongst other initiatives, RM 455 million will be allocated for Bumiputra entrepreneurs. Chinese community entrepreneurs would receive a total of RM 100 million loans with 4% interest. Similarly,…
Budget 2020: More Support For Companies in Malaysia Companies in Malaysia are getting a major boost from Budget 2020. The government is set to allocate funds upwards of RM1billion for customized packaged investment incentives. This will be yearly for five years to attract foreign companies to the country, a move that will help companies and…
The New Number Format Will Be Used for All Registered Companies in Malaysia With a steady economy, we are seeing more businesses and companies being registered. Every entrepreneur, big or small, is joining the entrepreneurship bandwagon as it is a viable alternative source of income. Just recently, a new business registration number format is introduced…
Automatic Compound Reduction Implemented by the Companies Commission of Malaysia (SSM) The Companies Commission of Malaysia (SSM) will implement an automatic compound reduction rate method. This method is effective as of 1 July 2019. This measure is meant to help facilitate the settlement of compounds within a specified period. This approach encourages the corporate community…
MIDA’s Launched I-Services Portal The Malaysian Investment Development Authority (MIDA) recently launched their i-Services Portal, connecting local service provides with potential clients both locally and abroad. MIDA’s new i-Services portal, accessible MIDA’s website, acts as a business platform link with three primary objectives: To help facilitate the linkage programmes run by MIDA and other agencies.…
MACC Launches Guidelines on Adequate Procedures The new Guidelines on Adequate Procedures will take effect from 1 June 2020, and is expected to prepare commercial organisations for the future. The guidelines were issued pursuant to subsection (5) of Section 17A of the Malaysian Anti-Corruption Commission Act 2009 (Act 694) (MACC Act 2009). This was stated…
SSM Registered Business Entities to Have New Format for Registration Numbers Business entities registered in Malaysia will now have a new registration number format when they register with the Companies Commission of Malaysia (SSM). Beginning January 2019, these new registration numbers for business will contain 12 digit characters which are designed to help facilitate data…
Smoking Ban to Be Imposed at All Malaysian Eateries From 1 Jan 2019 Starting from 1 January next year, a smoking ban will be enforced at all Malaysian restaurants nationwide. This includes hawker stalls and coffee shops, covering air-conditioned and non-air-conditioned eateries, street stalls and open-air hawker centers. Malaysia’s Deputy Health Minister stated during a…