Malaysia Business Reporting System by SSM to Be Implemented Nationwide Malaysia Business Reporting System (MBRS) is a submission platform for the Securities Commission of Malaysia (SSM). This system’s platform is based on the XBRL (eXtensible Business Reporting Language) format. With the XBRL format, companies and businesses will be able to submit the following documents: The…
“Pool Money” Activities are Prohibited Malaysia Companies or business entities in this country are prohibited from organizing any schemes or activities involving “pool money”. The Act (Prohibition) of “Pooling Money” of 1971 clearly states that companies which are formed under the Incorporation Act of 2016 (previously known as Incorporation Act of 1965), or any registered…
1 Jan Next Year Sees a New Minimum Wage in Malaysia From 1 January 2019, Malaysian workers are set to receive a change in their minimum wages. The new amount has been set at RM1,050 per month, and this change was made following the National Wage Consultative Council (MPGN)’s proposed recommendations. This amount works out…
What Does the New Government Mean for Malaysia in Terms of Business? Malaysia, the fourth largest economy in Southeast Asia, has always been known for its high labor productivity and its diverse economy. For the first time in 61-years, the country has a new government, a significant win in the country’s history since it gained…
No more Change In The Registered Address lodgments at SSM counters Beginning December 1, 2017, all lodgments of the Notification of Change In The Registered Address (CRA) through the Companies Commission of Malaysia (SSM) counters will be rejected. This includes all counters at SSM’s head office, state offices and branches. According to a recent announcement from the SSM,…
EPF Encourage Use of Electronic Transactions for Contribution Payments MALAYSIA: The Employees Provident Fund (EPF) is working with Bank Negara Malaysia (BNM), Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear) and local banks to minimise the usage of cheques and cash by encouraging the use of electronic payments. Campaigns to educate employers and encourage them to…
Managing director pleads guilty to providing false information A 59-year-old managing director in Malaysia, Goh Hee Seng pleaded guilty to two charges under Section 364 (2) of the Companies Act 1965 for providing false information to the Company Registrar with regards to an application to strike off a company name under Section 308 (1) of…
Revised Salary Requirements to Hire a Foreigner in Malaysia What Is an Employment Pass? Are you keen on experience work life in Malaysia and all the country has to offer? Malaysia is a country with no shortage of opportunity and despite being small in size, it has more than enough room for both locals…