Dear Valued Clients,
Welcome to our E-Newsletter January 2019
As always, the year creeps up on us. It is the time of the year that we reflect on ourselves as individuals and as a collective – how far we have come and how we have performed over the year.
Another Year of Achievements for 3E Accounting Malaysia
3E Accounting Malaysia continues to become better and better every year, and 2018 was no exception. The year 2018 would be remembered for two achievements that evidence our best performance and service. We have been selected as a representative of Global Excellence Awards and awarded the “Leading Accounting Services Provider of the Year” by Wealth & Finance International, recognising our impressive progress and prudent performance as the best-in-town Malaysia Company Registration and Corporate Secretarial services in the industry. In addition to this, we were shortlisted to be the Award Winners Accountancy Firm of the Year 2018 by Corporate LiveWire Finance. Sponsored by UK Business Circle and presented by Corporate LiveWire, the awards are the recognition to firms and individuals who have contributed both to the industry and played an integral part in improving financial services in law and wealth management. There is still plenty to be achieved and we see the year 2019 lines up with many successes and great achievements.
The Changing Tides in Malaysia Political Environment
The year 2018 has been a year of mixed lessons for Malaysians. Malaysians woke up to a new Malaysia after the whirlwind general election on May 10. The opposition parties ousted the coalition that has ruled Malaysia for all 61 years since independence. The 92-year-old Malaysia’s seventh Prime Minister, took the office and becomes the world’s oldest sitting elected leader. The changing tides in political power meant something bigger and more challenging for the new government as well as the people.
Despite the heavy national debt obligations and liabilities, the new government is putting in all effort to make Malaysians life better. The removal of notorious Goods and Service Tax (GST), the reintroduction of Sales and Service Tax (SST), the on-going revelations of financial mismanagement by the previous government and the recently announced Malaysia Budget 2019, have made headlines in 2018. While the Malaysia Budget 2019 has focused on restructuring of the national financial standing, Malaysians welcome a few new initiatives that aim to alleviate the people’s burden. For one, Malaysians will see zero tax hike affecting the B40 and M40. For another, Malaysians will see an increased focus and commitment from the government to help the uninsured people within the B40 group. The newly introduced Dana Perlindungan Kesihatan Nasional B40, free coverage for four critical illnesses, is said to be able to help the uninsured Malaysians.
Another thing worth highlighting is Malaysia had delivered a resilient performance in many areas. The recently released World Bank Doing Business 2019 Report is the living proof of Malaysia’s resilient performance. Malaysia has advanced nine spots to 15th out of 190 economies internationally (Malaysia was ranked at 24 in 2018’s report) – a benchmark that evidence Malaysia’s economic reforms are on the right track.
We would like to remind you that tax season is fast approaching and please do not forget to do stock take before December 31, 2018.
Lastly, I want to thank each one of you for being part of this family. I appreciate your great work, commitment, and support, which have been integral to 3E Accounting Malaysia’s progress and success. I wish you and your families a very happy new year and all the best in 2019!
Read More in our E-Newsletter January 2019.