Paving the Way for Digital Transformation in Malaysia Business Environment Malaysia is currently undergoing a digital transformation as national agendas such as the Shared Prosperity Vision 2030 and the Ministry of International Trade and Industry’s (MITI) National Policy on Industry 4.0 (Industry4WRD) are encouraging the use of emerging technologies to fast-track industry improvement and stimulate…
Embracing the Fourth Industrial Revolution The Industrial Revolution is upon us and it is manifested through technology trends towards automation, cyber-physical systems, the internet of things, cloud computing, cognitive computing and artificial intelligence. However, Malaysia’s Entrepreneur Development Minister has pointed out that Malaysian small and medium enterprises (SMEs) are still reluctant to adopt the technologies…
Accountability and Responsive Service is Among Objectives of the Anti-corruption Plan (ACP) by IRBM Corruption is not only wrong for an individual, but it will also stamp out development if it spreads throughout an organisation. Thus, positive character development and enforcing regulation is an on-going course of action. This is what the Inland Revenue Board…
The Malaysian Accounting Standards Board Publishes the Interest Rate Benchmark Reform As Issued by IASB The Malaysian Accounting Standards Board has released the Interest Rate Benchmark (IRB) Reform on 31st October 2019. The Interest Rate Benchmark Reform will apply as amendments to MFRS 9 Financial Instruments, MFRS 139 Financial Instruments: Recognition and Measurement and MFRS 7…
Bursa Malaysia Expects Higher Growth in 2020 The Chief Executive Officer for Malaysia’s Stock Exchange, Bursa Malaysia, is expecting 40 new listings to be added next year. The listings include not just larger companies, but also small to medium-sized businesses. The inclusion of small to medium-sized businesses is made possible due to incentives such as…
Data Protection Laws Changes to Occur in Malaysia A recent cybersecurity leak involving a pay portal at the Universiti Malaysia Sabah has prompted the government to put out a call for stronger data protection laws. The security leak happened through the UMS e-pay portal, compromising thousands of students and their private information. This is the…
The Important Reasons for Regulating the Gig Economy in Malaysia 20 years ago, being successful in life meant getting a 9-5 job in an office setting, and climbing a corporate ladder on your way to success. Fast forward to 2019, and this is no longer the case. The gig economy is taking over the world,…
Plans in the Works by Malaysian Government to Create New Economic Corridor A new economic corridor development will be put forth to the Economic Action Council (EAC), announced Malaysia’s Economic Affairs Minister. The proposal for the new economic corridor is being deliberated by the Ministry of Economic Affairs before it reaches the EAC. It is…
Changes to Personal Tax in Malaysia Budget 2020 – More Benefits for Society Malaysia Budget 2020 proposed a series of enhancements to the existing personal tax regime. Budget 2020 will do more to support the community with extension of tax exemption for women returning to work, increase the limit of tax relief for fees paid…
Changes to Corporate Tax in Malaysia Budget 2020 – All Businesses Must Know Small and Medium-Sized Enterprises (SMEs) and entrepreneurs are the key beneficiaries in the newly tabled Malaysia Budget 2020. The Malaysian government has proposed a range of tax enhancements to boost the growth of SMEs. Review of Corporate Income Tax Treatment for…