Malaysia Regulatory Update: Foreign Exchange Administration (FEA) Rules In a bid to calm the markets and to improve liquidity, Bank Negara Malaysia (BNM) recently issued the revised Foreign Exchange Administration Rules (FEA Rules) effective 5th December 2016, as a measure to accelerate the development of Malaysian financial market and to promote financial stability. The objectives…
Implementation of Online Submission for The Application of Import Duty Exemption on Machinery & Equipment and Raw Materials & Components All applications for import duty exemption which involve PC1, PC Services, PC2, PC2A, PC2-1, SPM1 and SPM2 need to be submitted online with effect from 1 November 2016. With effect from 1 November 2016, all…
Hire illegals and we will freeze assets, warns Immigration On 13 September 2016, DG says Immigration Dept will start using full provision of law to punish employers who flout law by hiring and protecting illegal foreign workers. Pointing to a provision under Section 56(1) of the Immigration Act, the department’s director-general Mustafar Ali said the…
Reminder for register online business with SSM Many people dabble in business online to supplement their income, but did not register company or business with the Companies Commission of Malaysia (SSM) to avoid Inland Revenue Board queries. This is an offence punishable under the Registration of Businesses Act. For those who make use of social…
Overview of Malaysia New Companies ACT 2016 The new Companies Bill 2015 (“Bill”), which will replace the current Companies Act 1965 (“Act”) as a whole and is expected to be gazzetted tentatively by end of August 2016 and its implementation shall commence as early as January 2017. OBJECTIVES OF REVISING THE COMPANIES ACT in…
Amendments to Employees’ Social Security Act, 1969 Please be informed that effective 1 Jun, 2016, The Employees’ Social Security Act, 1969 has been amended as below:- The ceiling of wage for contribution payment has been raised from RM3,000.00 per month to RM4,000.00 per month; All employees who are employed under a contract of service or…
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
