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Mandatory Sustainability Reporting

Mandatory Sustainability Reporting

Mandatory Sustainability Reporting

MANDATORY SUSTAINABILITY REPORTING REQUIREMENT

1. Singapore Stock Exchange Sustainability Reporting Requirement

Annual Report issued for financial year ended on Financial Year Ended 2017.

2. Bursa Malaysia Sustainability Reporting Requirement

Narrative Statement (i)

Detailed Disclosure (ii)

Annual reports issued for financial years ending on or after.
Main Market listed issuers with market capitalisation as at 31 Dec 2015:
≥ RM 2 billion
31 Dec 2016
31 Dec 2016
RM1 – 2 billion

31 Dec 2017

31 Dec 2017

≤ RM 1 billion

31 Dec 2017

31 Dec 2018

ACE Market:

All listed corporations
31 Dec 2018

N/A

Notes:

  • Narrative statement of the management of material economic, environmental and social risk and opportunities
  • Detailed disclosure includes the governance structure, scope of sustainability statement and the management of EES risks and opportunities

WHAT WE DO

More and more stock exchanges recognised the important of Sustainability Reporting and require all the listed companies to disclose their ESG performance as non-financial performance reporting to satisfy the greater demand of transparency from stakeholders. We can assist you in developing your ESG reporting. Our key services include: –


  1. Stakeholder engagement
  2. Sustainability reporting and disclosure
  3. Environment, health & safety
  4. Policy advisory
  5. Report assurance

OUR SELECTED TRACK RECORDS AND TEAM EXPERIENCES

RGT Berhad
Harbour-Link Group
SDS Group Berhad
Malaysia Steel Works (KL) Bhd
Engtex Group Berhad
ARB Berhad
SCGM Berhad
KPS Consortium Berhad
Bonia Corporation Berhad
Sin Heng Chan (Malaya) Berhad
KSL Holdings Berhad
PCCS Group Berhad
Inta Bina Group Berhad
Perusahaan Sadur Timah Malaysia (Perstima) Berhad
K. Seng Seng Corporation Berhad
Perak Transit Berhad

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Featured Ideas & Insights

INTERNATIONAL PRE IPO AND IPO (INITIAL PUBLIC OFFERING) ADVISORY

International IPO

International Pre IPO and IPO (Initial Public Offering) Advisory

hong kong

Why Go Listed in Hong Kong?

  • Better valuation and liquidity
  • Gateway to Mainland China
  • Leveraging Mainland China’s growth
  • Well-established legal system
  • Various acceptable accounting standards
  • Sound regulatory framework
  • Free flow of capital and information
  • Advanced clearing and trading infrastructure

Criteria and Requirements of Listing for Hong Kong Main and GEM Board

hong kong listing criteria
hong kong requirement
HK listing requirement
hk listing criteria

Note:

For the Listing Criteria and Requirements on Singapore Stock Exchange, NYSE, NASDAQ, OTC, Australia Stock Exchange, London Stock Exchange, Borse Frankfurt Stock Exchange and Taiwan Stock Exchange, please refer to PDF.

Pros and Cons of an Initial Public Offering (IPO)

Pros

  • Opportunity for capital growth and new financing
  • Enlargement of shareholder base
  • Increase of shares marketability
  • Realisation of capital gains
  • Diversification of personal portfolios
  • Enhancement of corporate profile
  • Increase of corporate transparency
  • Improvement of employee incentive and commitment
  • Increase of directors’ fiduciary responsibility

Cons

  • Decrease in controlling power over the company and the need to share success with public shareholders
  • Loss of privacy of company and management
  • Time cost and initial IPO expenses during listing
  • Continuing obligations after listing
  • The need to meet shareholders’ expectation (including public minority shareholders)
  • Increase of directors’ fiduciary responsibility

IPO Preparatory Work for listing

Before Listing After Listing
Determine the proposed listing business or scope of the entity.
Form an internal team responsible for listing.
Plan for restructuring of the listing group.
Appoint external professional parties.
Introduce strategic investors.
Prepare and submit listing documents.
Decide to go listed or seek other forms of fund raising.
Respond to questions raised by SEHK regarding the listing documents.
Estimate the amount of funds raised through listing.
Attend listing hearings and get the approval for listing from the Listing Committee.
-
Arrange press conference and roadshow.
-
Issue prospectus.

IPO Process

Listing Process

Parties Involved in IPO Listing

Business Valuation-01
Good Transfer Pricing-02r Pricing-02
  • Sponsors
  • Company’s legal advisors as to Hong Kong law
  • Company’s legal advisors as to law of place of registered office
  • Legal advisors as to law of place of registered office
  • Legal advisors of sponsors and brokers as to Hong Kong law
  • Legal advisors of sponsors and brokers as to law of place of registered office
  • Reporting Accountants
  • Tax advisors
  • Valuers
  • Internal control consultants
  • Third-party industry experts
  • Printers (including Chinese and English translation)
  • Public relations firms
  • Share registrars
  • Receiving banks

Major Component of IPO Listing Expenses

major component of listing expenses
  1. Lawyers’ fees (including sponsors’ legal advisors, company’s legal advisors as to Hong Kong law and law of place of registered office)
  2. Underwriting commission
  3. Sponsors’ fees
  4. Reporting Accountants’ fees
  5. Internal control consultant fees
  6. Public relations and roadshow fees
  7. Printing fees
  8. Valuer’s fees
  9. Application fees to HKEX
  10. Others

Note:

The above is only an estimate of expenses and is subject to change depending on the requirements. For more details, kindly contact our consultants for more informations.

Key Areas that Management Have to Consider

  • What due diligence procedures are needed?
  • How long does the listing process take?
  • What are the impacts of a private company turning into a listed company?
  • The commitments and responsibilities of the senior management?
  • Does management have sufficient knowledge and experience to manage a listed company (e.g. comply with the requirements of corporate governance and internal controls)?
  • Is it necessary to increase internal resources to cope with the listing process?
  • What is the optimal capital structure?
accounting-02

Common Problems During IPO Listing

Corporate Structure or Business Issues

  • Determination of the assets, businesses or entities to be included in the listing group
  • Restructuring of the human resources, management, finance and information technology systems
  • Handling of competing businesses
  • Handling of related party transactions
  • Assets valuation
  • Handling of the minority shareholders’ interests

Taxation Issues

  • Review of tax compliance
  • Feasibility of tax planning
  • Handling of the tax of employees’ warrants
  • Contact with tax authorities to confirm corporate tax status and resolve tax disputes
  • Review of the adequacy of the group’s tax reserves, e.g. land appreciation tax, corporate income tax in the business domicile, value added tax, deferred income tax, profits tax in Hong Kong, etc.

Legal Issues

  • Restructuring of the listing group
  • Treatment and disclosure of legal issues and non-compliance issues for the listing group in track record Period
  • Legal titles of assets
  • Litigation and related compensations

Accounting Issues

  • Revenue recognition
  • Cut-off problem of sales and purchases
  • Consolidation of financial statements of listing entities
  • Retirement benefits of employees
  • Depreciation and impairment of fixed assets
  • Capitalisation of interests
  • Valuation and amortisation of intangible assets
  • Bad debts of accounts receivables and other receivables
  • Existence and completeness of inventory records
  • Accounting for financial instruments
  • External guarantee
  • Accounting for leasing contracts
  • Accounting for government grants and subsidies
  • Qualified opinions in track record period statutory audit reports
  • Unrecorded liabilities
  • Accounting for listing expenses

Continuing Obligations after IPO Listing

Upon listed, the listed company must strictly comply with the Securities and futures Ordinance and the Listing Rules to provide the public with accurate information on timely basis. The major requirements include:
Types of Audit
  • Disclosure of Inside Information
  • Financial Disclosure
  • Notices, Announcements and Circulars
  • Notifiable Transactions
  • Connected Transactions
  • Corporate Governance Report
  • Environmental, Social and Governance Report

Corporate Teams after Listing

Recovery Audit-03
  • Compliance Advisor
  • Company Secretary
  • Qualified Accountant
  • Authorised Representatives
  • Remuneration Committee
  • Audit Committee
  • Authorised Representatives

Our IPO Professional Services

Pre-IPO

Accounting and audit-1
  • Assess whether the company meets the listing requirements and discuss the potential listing problems
  • Discuss the financial and accounting matters regarding the company’s restructuring
  • Discuss the financial and accounting matters regarding the company’s fund raising strategies and channels
  • Discuss the regulatory requirements and the listing process of IPO
  • Discuss the company’s basic accounting policies, preparation of financial statements, consolidation process, etc.
  • Discuss the company’s financial budget mechanism and guide based on its business development strategy
  • Disclosure of related parties transactions
  • Discuss pre-IPO capital restructuring or dividend distribution to realise the optimal composition of assets and liabilities
  • Provide internal control review services, review and assist in establishing internal control procedures on financial reporting processes
  • Provide corporate training and recommendations on improving internal control environment and procedures
  • Provide recommandations on compliance processes
  • Provide tax services and recommendations, including tax audits, tax restructuring, tax planning, etc.

During IPO Listing

  • Prepare Accountants’ Report of the track record period, in accordance with IFRS or HKFRS and the Listing Rules of HKEX
  • Provide general assistance to the company’s sponsors, legal advisors and underwriters in the role of reporting accountants regarding the preparation of prospectus (including attending the meetings for drafting and planning, helping to review, submitting the required information and handling other matters as instructed)
  • Review the unaudited pro forma financial information
  • Review the statement of indebtedness prepared by the company
  • Review the profit and cashflow forecast prepared by the company
  • Assist the sponsors in solving queries from the regulatory authorities
  • Review the accounting policies and calculation methods adopted by the company in profit forecast
  • Comment on internal control review and corporate governance
Organization Description

Post IPO Listing

small business-1
  • Act as an auditor and provide audit services
  • Review the company’s transactions in capital market such as rights issues and major acquisitions and act as reporting accountants for mergers and acquisitions or other projects
  • Review on the disclosure of the company’s financial results regularly
  • Advice on the latest updates on Listing Rules, accounting standards, financial reporting, corporate governance and other regulatory matters
  • Review the company’s internal controls and corporate governance regularly, and provide recommendations for improvement
  • Assist in the preparation of environmental, social and governance report

IPO LISTING CRITERIA AND REQUIREMENTS

Note: For the Listing Criteria and Requirements on Hong Kong Stock Exchange, Singapore Stock Exchange, NYSE, NASDAQ, OTC, Australia Stock Exchange, London Stock Exchange, Borse Frankfurt Stock Exchange and Taiwan Stock Exchange, please refer to PDF.

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Featured Ideas & Insights

Investing In The Northern Corridor Economic Region (NCER), Malaysia

Investing In The NCER MALAYSIA

Investing In The Northern Corridor Economic Region (NCER), MALAYSIA

MAJOR DEVELOPMENT IN NCER

Major-Development-in-NCER

The Northern Corridor Economic Region (NCER) is a development plan encompassing the four Northern States of Malaysia namely Perlis, Kedah, Perak and Penang. The priority sectors in NCER are manufacturing, agriculture and bio-industries and services which include the sub-sectors of tourism, global business services and logistics & connectivity.

The objectives of the NCER initiative include:

a) To stimulate economic growth to address the imbalances and increase inclusively;

b) To achieve balance growth in the manufacturing, agriculture, bio-industries and services sectors;

c) To enhance talents to meet the growing needs of the region;

d) Increase private sector investments and finance initiatives.

The advantages include:

a) Located within the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT);

b) NCER has hosted many multinational companies and local companies with approximately RM47.7 billion of investment in the year 2009 – 2016;

c) Year 2020, RM50 million for high impact strategic projects has been allocated to Chuping Valley Industrial Area in Perlis;

d) NCER plays a predominant role in agriculture in the NCER;

e) NCER is renowned for its rich natural and heritage attraction.

MAJOR PROJECTS DEVELOPMENT IN NCER

perlis inland port

Perlis Inland Port

An inland port to capitalize on the border trade from southern Thailand.

  • 94bil GNI per year by 2025
  • 4,056 job creation
Chuping Valley Industrial Area(CVIA)

Chuping Valley Industrial Area (CVIA)

An on-going industrial park development to transform Perlis into an industrialised state.

  • 5bil investment by 2025
  • 12,674  job creation
Kota Perdana SBEZ(KPSBEZ)

Kota Perdana SBEZ(KPSBEZ)

A mixed development comprising industrial park, logistics hub & commercial zones.

  • RM50bil total GDVby 2030
  • 21,050 job creation
Kedah Science & Technology Park (KSTP)

Kedah Science & Technology Park (KSTP)

A new industrial park that focuses on science and technology clusters located at the border region.

  • 9bil total GDV by 2030
  • 23,244 job creation
Kedah Rubber City (KRC)

Kedah Rubber City (KRC)

Project that will focus on downstream rubber activities by creating a complete rubber.

  • 7bil investment by 2030
  • 14,471 job creation

MAIN ELIGIBILITY CRITERIA FOR NCER TAX INCENTIVE PACKAGES

a) A company incorporated in Malaysia under the Companies Act 1965 or Company Act 2016;

b) The company must be undertaking a qualifying project or activity in NCER;

c) For Foreign Direct Investment (FDI), the company must submit its application to Northern Corridor Implementation Authority (NCIA) before commencing operation/production (including trial production);

d) For Domestic Direct Investment (DDI), the incentive application submitted to NCER must not more than twelve (12) months from production services of the proposed project. The company must be owned by 60% Malaysian Resident and must hold equity in 5 years within the incentive period;

e) Company is required to source minimum 50% of raw material/ components/ services produced in Malaysia. Employment of full time employee in compliance with current national policy;

f) Applicable to application received by NCIA from 17 August 2017 until 31 December 2025.

TAX INCENTIVES IN NCER

Sector
Promoted Activities
NCER Incentives

A. Manufacturing

1. Electrical & Electronic
2. Machinery & Equipment

a. Green Technology (product)

b. Medical Devices (products)

c. Automotive (products)

d.  Additive Manufacturing (products)

e. Aerospace (products)

Kedah & Perlis

1. Income tax exemption of 100% of statutory income for 10 years (5 + 5); OR

2. An allowance of 100% on the qualifying capital expenditure incurred within 10 years. This allowance will be set-off against up to 70% of the statutory income.

3. A 50% reduction of stamp duty on instruments of transfer or lease of land.
Perak & Penang

4. Income tax exemption of 70% of statutory income for 10 years (5 + 5); OR

5. An allowance of 70% on the qualifying capital expenditure incurred within 10 years. This allowance will be set-off against up to 70% of the statutory income.

B. Agriculture & Bio-Industries

a. Sustainable Agriculture

b. Processing of Agriculture Produce

c. Superfruit/ Superfood (Upstream)

d. Superfruit/ Superfood (Downstream)

e. Green Technology Services

f. Halal Industry Seed Research & Development

Kedah, Perlis, Perak & Penang

1. Unutilised allowances are allowed to be carried forward to the following years until fully utilised.

2. Import duty exemption on plant and machinery, equipment, spare parts, raw materials and components not produced locally and used directly in production activities.
C. Service

1. Tourism
2. Logistic
1. Tourism:
a. Medical Tourism
b. Hotel Business
c. Tourism Projects
d. Business Tourism

2. Logistics:
a. Warehousing
b. Freight Forwarding
c. Transportation
Kedah and Perlis only

1. Income tax exemption of 100% of statutory income for 10 years; OR

2. An allowance of 100% on the qualifying capital expenditure incurred within 10 years; AND

3. A 50% reduction of stamp duty on instruments of transfer or lease of land.
Perak and Penang Only

1. Income tax exemption of 70% of statutory income for 10 years (5+5); OR

2. An allowance of 70% on the qualifying capital expenditure incurred within 10 years.

3. Import duty exemption on plant and machinery, equipment, spare parts, raw materials and components not produced locally and used directly in production activities for Kedah, Perak, Perlis and Penang.

D. Medical Science and Science & Technology

Contract R&D
Research, development and inspection works for customers.
Kedah and Perlis only

1. Income tax exemption of 100% of statutory income for 10 years; OR

2. An allowance of 100% on the qualifying capital expenditure incurred within 5 years.
Perak and Penang only

1. Income tax exemption of 70% of statutory income  for 10 years (5 + 5); OR

2. An allowance of 70% on the qualifying capital expenditure incurred within 10 years.

In-House R&D
Research & development undertaken by Malaysian company for their own business.

Kedah, Perak, Perlis and Penang

1. An allowance of 100% on the qualifying capital expenditure incurred within 10 years. This allowance will be set-off against up to 70% of the statutory income.

2. Unutilised allowances are allowed to be carried forward to the following year until fully utilised.

R&D Company
Research on science or  technology including Industry 4.0 for the production/ improvement of materials, equipment, products or processes.

Kedah, Perak, Perlis and Penang

1. An allowance of 100% on the qualifying capital expenditure incurred within 10 years. This allowance will be set-off against up to 70% of the statutory income.

2. Unutilised allowances are allowed to be carried forward to the following year until fully utilised.
E. Agriculture

Seed R&D Centre
Investor

Kedah and Perlis only

1. Income tax exemption of 100% of statutory income for 10 years; OR

2. An allowance of 100% on the qualifying capital expenditure incurred within 5 years.
Perak and Penang only

1. Income tax exemption of 70% of statutory income  for 10 years (5 + 5); OR

2. An allowance of 70% on the qualifying capital expenditure incurred within 10 years.

Seed R&D Centre
Operator

Kedah and Perlis only

1. Income tax exemption of 100% of statutory income for 10 years (5 + 5); OR

2. An allowance of 100% on the qualifying capital expenditure incurred within 10 years. This allowance will be set-off against up to 70% of the statutory income.

3. Unutilised allowances are allowed to be carried forward to the following years until fully utilised.

4. Industrial Building Allowance for 10 years on building used for Seeds R&D Centre operating in Kedah Science & Technology Park (KSTP).

5. Tax deduction for 5 years on cost incurred to acquire property rights with condition that the Seed R&D Centre is at least 51% Malaysian owned.

Approved Agriculture Project

Kedah, Perlis, Perak and Penang

1. Income tax exemption of 100% of statutory income for 10 years on new project undertaken; OR

2. Income tax exemption of 100% of statutory income for 5 years on expansion project approved by Jawatankuasa Penilaian Insentif Sektor Pertanian (JPISP).

3. Tax deduction for investor company carrying on an Approved Agriculture Project by JPISP.
F. Support Industry

Education

a. Private Institution of Higher Learning

b. Technical & Vocational Education and Training (TVET)

c. International/ Private Schools

Kedah and Perlis only

1. Income tax exemption of 70% of statutory income for a period of limited 5 years; OR

2. An allowance of 100% on the qualifying capital expenditure incurred within 5 years. This allowance will be set-off against up to 70% of the statutory income.

3. Unutilised allowances are allowed to be carried forward to the following years until fully utilised.
G. Special Incentive
1. Selama
2. Perak Tengah
3. Kuala Kangsar
4. Badan Datuk
5. Seberang Prai Utara
6. Seberang Prai Selatan
7. Seberang Prai Tengah
8. Barat Daya Pulau Pinang
Perak and Penang only

1. Income tax exemption of 100% of statutory income for a period of 15 years; OR

2. An allowance of 100% on the qualifying capital expenditure incurred within certain period, will be set-off against up to 70% of the statutory income.
H. Kedah Science & Technology Park (KSTP)

1. KSTP Park Manager

Income tax exemption of 100% of statutory income for 5 years. This approval applies only to the first industrial park manager at KSTP.
2. R&D & Manufacturing activities (Operators)

a. Manufacturing activities in agro-science;
b. Advanced material
c. Information & Communication Technology;
d. Biotechnology;
e. Component R & D;
f. Halal science;
g. Green Technology
1. Income tax exemption of 100% of statutory income for 15 years (5+5+5); OR

2. An allowance of 100% on the qualifying capital expenditure incurred within 10 years (5+5). This allowance will be set-off against up to 70% of the statutory income.

3. Unutilised allowances are allowed to be carried forward to the following years until fully utilised.

4. A 50% stamp duty reduction on transfer or lease of land/building.

5. Import duty exemption on plant and machinery, equipment, spare parts, raw materials and components which are not produced locally and used directly in production activities.

6. This approval is subject to product/service provision from qualifying activity. This approval does not apply to income derived from intellectual property services.
3. Developer
Commercial property development only
Income tax exemption of 70% of statutory income for 5 years.

4. KSTP Global Research Centre (GRC)

Income tax exemption of 100% of statutory income for 15 years (5+5+5).

5. Education
a. IHL and TVET
1. Income tax exemption of 100% of statutory income for 5 years; OR

2. An allowance of 100% on the qualifying capital expenditure incurred within 5 years.
I. Chuping Valley Industrial Area (CVIA)
1. Developer
Commercial property development only

1. Income tax exemption of 70% of statutory income for 5 years for the following income:

a. Disposal of all or part of right or land/building located at CVIA; OR

b. Rental of all or part or the land/buildings located at CVIA.

 

2. Stamp duty exemption on transfer or lease of land only.

2. CVIA Park Manager

Income tax exemption of 100% of statutory income for 5 years.

3. Waste-To-Resources Facilities Provider

1. Income tax exemption of 100% of statutory income for 15 years; OR

2. An allowance of 100% allowance on the qualifying capital expenditure incurred within 10 years. This allowance will be set-off against up to 70% of the statutory income. Unutilised allowances are allowed to be carried forward to the following years until fully utilized.

3. A 50% stamp duty reduction on transfer or lease of land/ building.

4. Import duty exemption on plant and machinery, equipment, spare parts, raw materials and components which are not produced locally and used directly in production activities.
4. Education

a. Institution of Higher Learning (IHL); and
b. Technical and Vocational Education and Training (TVET).
1. Income tax exemption of 100% of statutory income for 5 years; OR

2. An allowance of 100% on the qualifying capital expenditure incurred within 5 years. This allowance will be set-off against up to 70% of the statutory income. Unutilised allowances are allowed to be carried forward to the following years until fully utilized.
5. Companies That Undertake Qualifying Activities (Operators)

a. Green Manufacturing;
b. Halal industry;
c. Machinery and equipment;
d. Specialised machinery and equipment;
e. Green Energy Generation
1. Income tax exemption of 100% of statutory income for 15 years (5+5+5); OR

2. An allowance of 100% on the qualifying capital expenditure incurred within 10 years (5+5). This allowance will be set-off against up to 70% of the statutory income.Unutilisedallowances are allowed to be carried forward to the following years until fully utilized.

3. A 50% stamp duty reduction on transfer or lease of land/ building.
J. Kedah Rubber City (KRC)

1.  Manufacturer

1. Income tax exemption of 100% of statutory income derived from Rubber City qualifying activities for 10 years commencing from first year the company generates statutory income; AND

2. Income tax reduction of 50% for 5 years after expiry of the first 10 years; OR

3. An allowance of 100% on the qualifying capital expenditure incurred within 5 years. This allowance will be offset against up to 100% of statutory income for each assessment year.

4. Stamp duty exemption on the instrument of transfer of land or building or lease of land or building used for the qualifying activities in Rubber City.

5. Tax deduction for pre-operating expenses incurred within 4 years before the commencement date of qualifying activity and such expenses shall be deemed to be incurred on the commencement date.
2. Education, Training and R&D Supplier
1. Income tax exemption of 100% of statutory income derived from Rubber City qualifying activities for 10 years of commencing from first year the company generates statutory income; OR

2.An allowance of 100% on the qualifying capital expenditure incurred within 10 years. This allowance will be offset against up to 100% of statutory income for each assessment year.

3.Stamp duty exemption on the instrument of transfer of land or building or lease of land or building used for the qualifying activities in Rubber City.

4. Tax deduction for pre-operating expenses incurred within 4 years before the commencement date of qualifying activity and such expenses shall be deemed to be incurred on the commencement date.

3. Main Developer and Residential and Commercial Developer

1. Income tax exemption of 100% of statutory income derived from Rubber City qualifying activities for 10 years commencing from first year the company generates statutory income; OR

2. An allowance of 100% on the qualifying capital expenditure incurred within 5 years. This allowance will be offset against up to 100% of statutory income for each assessment year.

3. Stamp duty exemption on the instrument of transfer of land or building or lease of land or building used for the qualifying activities in Rubber City.
4. Catalytic Anchor Tenants
1. Income tax exemption of 100% of statutory income derived from Rubber City qualifying activities for 10 years of commencing from first year the company generates statutory income; OR

2. An allowance of 100% on the qualifying capital expenditure incurred within 5 years. This allowance will be set-off against up to 100% of the statutory income for each assessment year.

3. Stamp duty exemption on the instrument of transfer of land or building or lease of land or building used for the qualifying activities in Rubber City.

4. Tax deduction for pre-operating expenses incurred within 4 years before the commencement date of qualifying activity and such expenses shall be deemed to be incurred on the commencement date.

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Why Considering Outsourcing as You Have Bigger Fish to Fry

Why considering bigger fish

Why Considering Outsourcing as You Have Bigger Fish to Fry

Why Consider Business Process Outsourcing (“BPO”)

Why consider outsourcing? Today the business is dynamic, you might want to fully redeploy your human resources towards a more important business task to achieve your strategic goals and objectives, by leveraging our highly skills and experienced human resources to assist your organisation’s statutory compliance, you can focus on your operation in more efficient and effective way.

We have pool of professional staff with knowledge, experience and expertise to assist your internal fuction (i.e accounting, administrations, human resources etc.). We are able to assign our professional staffs to your office for a certain period as per your business needs. Our staff placement services will help you in the following situations:-
  • You need temporary replacement after your staff has resigned
  • You need professional and experience staff to clear accounting backlogs and get your accounts updated;
    • unidentified and unmatched trade spend and goods return
    • long outstanding and accumulated suspense, clearing, other debtors and creditors account balances,
    • bank statement reconciliation or monthly/annual accounts.
  • You are facing peak period which is temporary in nature (e.g annual budgeting, rapid expansion etc) and need extra hands to expedite the process;
  • Your existing staff participate in special projects (such as restructuring, merger, acquisition, listing exercise, system migration etc) and require temporary helping hands to focus on routine functions;
  • Your existing staff are on long leave due to illness, personal reasons or temporary re-assignment;
  • You need highly skills, experience professional and reliable staff that will always ensure your organisation are in full compliance with regulatory requirement in an accurate and timely mannerly;
  • You are at early stage companies and rarely require full-time accounting employees for accounting task as the worload is small.

What Benefits Our Staff Placement Services to Your Business

  • Redeploy your valuation human resources to a more important business task to achieve your business strategic goals and objectives;
  • Minimum re-training costs on the changes of GST/VAT, Accounting Standards and other relevant regulation and acts;
  • Lower your fixed costs on maintaining a pool of compliance teams; and
  • Lower recruitment costs on hiring your compliance team;

What We Do

  • Accounting Services and Function
  • Payroll Services and Human Resource Administration
  • Outsourcing CFO Functions
  • Compilation of Unaudited Financial Statement
  • Preparation of filing XBRL (Extensible Business Reporting Language)
  • Provision of Treasury Functions
  • Executive Recruitment and Search

Why TY TEOH

  • Our staff strength combine Singapore, Malaysia, UK, and Australia Chartered Accountants;
  • More than 150 experienced accounting professionals who bring the different set of technical skills and expertise and with different industry experiences;
  • Strong track records, e.g. delivered more than 10,000 financial report;
  • Experienced in handling BPO in different countries’ governing law and jurisdiction.

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Malaysia My Second Home (MM2H) Programme

MM2H

Malaysia My Second Home (MM2H) Programme

WHAT IS MALAYSIA MY SECOND HOME (MM2H) PROGRAMME

  • Malaysia My Second Home (MM2H) Programme is a programme promoted by the Government of Malaysia to allow foreigners who fulfil certain criteria to obtain multiple-entry social visit pass to stay in Malaysia.
  • Multiple-entry social visit pass valid for 10 years and is renewable.
  • This programme open to all citizens from all the countries recognised by Malaysia, regardless of religion, race, gender and age. Spouse of Malaysian who are not citizen of Malaysia and expatriate in Malaysia may apply to this programme upon expired of the employment visa for the purpose of retirement in Malaysia.
  • Principal applicants are allowed to bring their spouse and unmarried children below the age of 21 and parent who are age 60 and above.
  • More than 33,000 participants around the world participated this programme.

Why Malaysia？

  • This programme promoted by the Government of Malaysia
  • Malay language as official language, English and others language used widely.
  • No natural disaster and political stable

Benefits of MM2H

  • initially for a period of ten (10) years, and is renewable
  • No minimum days of staying
  • Political stable
  • No English requirement

MM2H REQUIREMENT (UPON APPLICATION）

Aged above 50
Aged below 50
  • Signed agreement with MM2H authorised agent
  • Same
  • Applicants are required to show proof of liquid assets worth of minimum RM350,000
  • Applicants are required to show proof of liquid assets worth of minimum RM500,000
  • Offshore income of RM10,000 per month or annual income of RM120,000
  • Same
  • For those who have retired, they are required to show proof of receiving pension from government RM10,000 per month.
  • Same

MM2H REQUIREMENT (UPON APPROVAL）

Aged above 50
Aged below 50
  • Open a fixed deposit account of RM150,000
  • Proof of receiving pension from government RM10,000 per month
  •  Open a fixed deposit account of RM300,000
  • Maintain a minimum balance of RM100,000 from second year onwards and throughout stay in Malaysia under this programme
  • Maintain a minimum balance of RM150,000 from second year onwards and throughout stay in Malaysia under this programme

MM2H PROGRAMME STATISTIC

2002 to 2018 （Top 10）

People’s Republic of China
12,881

Japan

4,778

People’s Republic of Bangladesh

4,135

United Kingdom

2,691

Republic of Korea

2.378

Islamic Republic of Iran

1,399

Republic of Singapore

1,459

Republic of China (Taiwan)

1,396

Islamic Republic of Pakistan

1,087

Republic of India

1,047

Others

9,020

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